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Trading Made Simple

  • #13,401
  • Nov 9, 2011 10:20am Nov 9, 2011 10:20am
Quoting snarlyjack
Gyfu,

I always trade with the price channel.

5 smoothed, lo
5 smoothed, hi

I set my stops at the top or bottom of the
price channel. The price channel will expand or
contract depending on volitility in the markets.
Just go with it and try to keep things simple.

When price is in the price channel that means the market
really doesn't know which way it's going to go. Sooner or
later it will break the price channel to the upside or downside.

Hope this helped you...

snarlyjack
Yes Snarlyjack, it does help me with figuring the SL, which is huge for this system, cos in a way, that is what I am lacking and using the peak or trough of the last swing, sometimes can be too huge for an SL.

I guess your comments make sense that if it is too close, might as well stay away from it and wait for the market to move.

Thanks a bunch for this useful advise.
  • #13,402
  • Nov 9, 2011 10:22am Nov 9, 2011 10:22am
Quoting weeman415
Hey guys, finally had a good trade this week. Got in on usd/cad on a 1h TDI cross last night, turned into a 4h cross around 12am, woke up to +100 pips . Can anyone post a 1h aud/usd chart, it looked like TDI could cross at 9am or 10am. I finally set up a laptop to take to work to look at charts but it is too early to run to the startbucks and check...i just got here haha
Got computer at work? You can run MT4 from a USB you know, maybe not?

Just drag and drop or copy & paste, the Metatrader folder to the USB, look for the "terminal.exe" to launch - you will need the account number & logon first time run, good luck
It takes a lot for me to IGNORE you, but you can try.
  • #13,403
  • Nov 9, 2011 11:14am Nov 9, 2011 11:14am
Quoting FXSurf
Anyone have the synergy candle indicator - which display "open and close" as a notch off the sides? Or know where I can get it?
Just select the bar chart to display open & close, it will overlay on the HA candle.
  • #13,404
  • Nov 9, 2011 11:35am Nov 9, 2011 11:35am
Quoting Phx62
Like snarlyjack and some others I traded the London session on EU today....only I traded the H1....entered the trade at the beginning of the 2nd blue candle....it took over 5 hours to get that 50 pip TP....I got tired of monitoring the trade and went back to bed, checking it every hour or so and moving the SL up...it finally hit my TP while I at work. But that is trading!!!! Some good and fast....some very slow. The TDI green stayed above the red so I rode it out.
This EA may help you with the sleep issues done by steve hopwood...FYI

http://www.forexfactory.com/showthread.php?t=89371

L
  • #13,405
  • Nov 9, 2011 1:18pm Nov 9, 2011 1:18pm
Quoting Erebus
Got computer at work? You can run MT4 from a USB you know, maybe not?

Just drag and drop or copy & paste, the Metatrader folder to the USB, look for the "terminal.exe" to launch - you will need the account number & logon first time run, good luck
Wish it were that easy, only works if open internet access, in my job the proxy server blocks all but approved ports...
  • #13,406
  • Nov 9, 2011 1:26pm Nov 9, 2011 1:26pm
I watched EU today, but the market was consolidating.

The "short" point of consolidating market was at 1.6800. The H1-Entry signal was within this consolidation phase, so I did not enter, as I thought it is against BigE´s rules.

Could someone experienced please clarify, if it was correct to stay out of trade or was it "allowed" to enter after BigE´s rules?

Attached is a screenshot of the consolidation I´ve seen...

Best to all of you,
smash
Attached Image (click to enlarge)
Click to Enlarge Name: consolidatio.jpg Size: 94 KB
  • #13,407
  • Nov 9, 2011 1:47pm Nov 9, 2011 1:47pm
Quoting geosanuy
Wish it were that easy, only works if open internet access, in my job the proxy server blocks all but approved ports...
Never know till you try, there is settings for proxy server in MT4 (copy from IE) and user name + password if you need that too, more information here

http://www.forexfactory.com/showthread.php?t=22087
It takes a lot for me to IGNORE you, but you can try.
  • #13,408
  • Nov 9, 2011 2:13pm Nov 9, 2011 2:13pm
Quoting smash85
I watched EU today, but the market was consolidating.

The "short" point of consolidating market was at 1.6800. The H1-Entry signal was within this consolidation phase, so I did not enter, as I thought it is against BigE´s rules.

Could someone experienced please clarify, if it was correct to stay out of trade or was it "allowed" to enter after BigE´s rules?

Attached is a screenshot of the consolidation I´ve seen...

Best to all of you,
smash
With the tdi green already below the red after a weak cross angle, it bounces south and picks up momentum.

APB had had a colour change on H1 and the signal candle was a good size relative to recent candles, the next candle increases the momentum and can be taken as an entry point. Looks like the entry point was on the 11pm PDT candle.

As an additional signal the move also breaks the last down fractal from 7 candles previous and if you have the trading range 5MA High Low (Dean Malone set up) this also breaks the 5MA low.

Looks great - shame I was counting sheep at the time - I expect we will see more of the same over the next few weeks.
Attached Image (click to enlarge)
Click to Enlarge Name: eu h1.gif Size: 26 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #13,409
  • Nov 9, 2011 2:56pm Nov 9, 2011 2:56pm
Quoting piprac
Just select the bar chart to display open & close, it will overlay on the HA candle.
Thanks, that did the trick.
  • #13,410
  • Nov 9, 2011 4:20pm Nov 9, 2011 4:20pm
Anybody else trading the daily charts? I switched to them exclusively after realizing its what worked for my schedule.Now i dont have to worry about catching any session or sitting in front of the computer too much.
  • #13,411
  • Nov 9, 2011 4:46pm Nov 9, 2011 4:46pm
Quoting kingclarence
Anybody else trading the daily charts? I switched to them exclusively after realizing its what worked for my schedule.Now i dont have to worry about catching any session or sitting in front of the computer too much.
Been backtesting this a little bit, wonder what the stops and limits should be
  • #13,412
  • Nov 9, 2011 6:03pm Nov 9, 2011 6:03pm
I decided to start trading that way to. For just those reasons and more. I am trying to cultivate an attitude of calm and patience. This will happen if I can ignore the computer. I am personally adding the volatility bands (they look and act like bollinger bands) and the price channel to the chart which are from dean malone's aresonal of tricks. Also I am watching the volatility indicator as well. I have noticed in my backtesting that when volatility is increasing when there is a good entry, it reinforces it. After a little more experience I am going to increase my lots on this type of entry. I have been trading for a little more than two years if ya like to know. Hope this helps. I might also add that I have an automated exit where I plan to exit half my lots at a risk reward of one to one and let the rest ride as per big E's rules.
"IN CASH WE TRUST"
  • #13,413
  • Nov 9, 2011 7:33pm Nov 9, 2011 7:33pm
Very soon this strategy will end again with many, many more indicators, soon It will be a very different system from the effective and simple original one.
Indicators always obey Price, not the other way.
  • #13,414
  • Nov 9, 2011 7:37pm Nov 9, 2011 7:37pm
Quoting maxtrader
Very soon this strategy will end again with many, many more indicators, soon It will be a very different system from the effective and simple original one.
Not for me, I just deleted some of the "progressive" indis and reloaded from pg 1. Clean & simple.
  • #13,415
  • Nov 9, 2011 8:03pm Nov 9, 2011 8:03pm
Quoting piprac
Not for me, I just deleted some of the "progressive" indis and reloaded from pg 1. Clean & simple.

Great, then you are on the correct path to learn price action.

Regards
Indicators always obey Price, not the other way.
  • #13,416
  • Nov 9, 2011 8:09pm Nov 9, 2011 8:09pm
Quoting piprac
Not for me.
Me neither; I can't read a cluttered chart. One of the benefits of TMS.
My favorite crochet hook is size J. It's a J-Hook!
  • #13,417
  • Nov 9, 2011 10:17pm Nov 9, 2011 10:17pm
Quoting LazyLobster
I decided to start trading that way to. For just those reasons and more. I am trying to cultivate an attitude of calm and patience. This will happen if I can ignore the computer. I am personally adding the volatility bands (they look and act like bollinger bands) and the price channel to the chart which are from dean malone's aresonal of tricks. Also I am watching the volatility indicator as well. I have noticed in my backtesting that when volatility is increasing when there is a good entry, it reinforces it. After a little more experience I am...
Im new to forex only been trading maybe two or three months.I switched to days cause i stay on the east coast of the U.S. and cant catch the london.I like it because i can catch every candle and dont have to stare at the screen much just check it once a day if i want.

You gotta be patient though and be willing to deal with some big swings in price.Upwards of a hundred pips sometimes.Im up 560 pips on some trades i took 5 days ago.

My biggest flaw is not staying in a trade and giving it time to develop.Most of my losses have been because i exited too early or moved my stop loss.
  • #13,418
  • Nov 9, 2011 11:23pm Nov 9, 2011 11:23pm
Been watching this thread for awhile now. I too am trading daily charts. Great if you work full time and can't watch all the time. I also end up exiting too soon, but still making pips. I think it's time to start looking at using a TS.

Happy trading all
  • #13,419
  • Nov 9, 2011 11:42pm Nov 9, 2011 11:42pm
Quoting maxtrader
Very soon this strategy will end again with many, many more indicators, soon It will be a very different system from the effective and simple original one.
Whether this happens or not is up to us, we are posting about Trading Made Simple System and we should keep it that way.
It can be very detrimental to the aspěring trader to see that the more experienced use BB's, Starc, Fractals or whatnot...
They interpret it as this guy uses so & so and is successful, let me get that and apply it...what they are not considering is that the other guy has 2 or 3 years of screen time on them, and is able to evaluate & use an added indicator, knowing when it is advantageous to mind it or ignore it in way that is practically impossible for the newer trader.

If one is posting with a view of helping "noobs" we should really refrain from altering the system or showing charts that may be harder for them to digest.
This is a powerful, SIMPLE system and a great way for a new trader to learn, if only they respect Big E's original specs.
  • #13,420
  • Nov 10, 2011 2:08am Nov 10, 2011 2:08am
Quoting Britpip7
With the tdi green already below the red after a weak cross angle, it bounces south and picks up momentum.

APB had had a colour change on H1 and the signal candle was a good size relative to recent candles, the next candle increases the momentum and can be taken as an entry point. Looks like the entry point was on the 11pm PDT candle.

As an additional signal the move also breaks the last down fractal from 7 candles previous and if you have the trading range 5MA High Low (Dean Malone set up) this also breaks the 5MA low.

Looks great...
Hi BritPip,

thanks a lot for your enlightning answer!

smash
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