Trading Made Simple | Page 673 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Monitor for 'Trading Made Simple' system 565 replies

Trading Made Simple the right way, and other trading lessons 334 replies

Indicators for the 'Trading Made Simple' system 343 replies

MTF Indicators for the 'Trading Made Simple' system 241 replies

Trading Made Simple system follower - Thanks to eelfranz 9 replies

Attachments: Trading Made Simple
Exit Attachments

Trading Made Simple

  • #13,441
  • Nov 10, 2011 7:01am Nov 10, 2011 7:01am
Quoting kijkij
EU-H4

Long at 1.3576
Closed

EU + 55

USDCHF +56

CHFJPY +44
  • #13,442
  • Nov 10, 2011 7:08am Nov 10, 2011 7:08am
Quoting smatthew
I admit this is a weak point in my personal approach of TMS.
I've been studying old charts and almost all TDI crosses seem to result in positive pippage. Still I'm reluctant to apply wider stops. In part, this is due to the following:

My broker is Interactive Brokers where minimum lot sizes apply (25000). I'll need to have a bigger account to cover large stops at the 2% risk I'm willing to take.

Therefore I was trying to use a fixed stop of 40 pips based on what I could afford to lose (at 2%) if I were trading live.

I'll adjust my stop strategy...
Easy as changing brokers, or at least get a MT4 demo account.

IB still running DOS aren't they? very clunky program when I trialled it, thought it was rubbish actually!
It takes a lot for me to IGNORE you, but you can try.
  • #13,443
  • Nov 10, 2011 7:10am Nov 10, 2011 7:10am
Quoting smatthew
I admit this is a weak point in my personal approach of TMS.
I've been studying old charts and almost all TDI crosses seem to result in positive pippage. Still I'm reluctant to apply wider stops. In part, this is due to the following:

My broker is Interactive Brokers where minimum lot sizes apply (25000). I'll need to have a bigger account to cover large stops at the 2% risk I'm willing to take.

Therefore I was trying to use a fixed stop of 40 pips based on what I could afford to lose (at 2%) if I were trading live.

I'll adjust my stop...
I've observed that too. Anytime there is a H4 TDI cross that fulfills Big E's 12-2 & 4-6 clock face condition, it will always lead to +ve pips, atimes alot of pips. What i need to do now is heed Piprac's advice and just add ATR to all my E/U, G/U & A/U charts and be adjusting my lot size according to what ATR requires the SL to be.
  • #13,444
  • Nov 10, 2011 7:14am Nov 10, 2011 7:14am
Quoting piprac
A 14 period ATR on the H4 is 74 pips at the present & I believe you used a 40 p SL - much too tight in my opinion. And some here use 1.5 to 2 times the ATR by using good MM.
piprac; what ATR value would you advice to be used as the SL. As it appears, 1.5 or 2 times the value?
  • #13,445
  • Nov 10, 2011 7:22am Nov 10, 2011 7:22am
Quoting kijkij
Closed

EU + 55

USDCHF +56

CHFJPY +44
why have you exited EU? The signal is still valid on h4 :-).
  • #13,446
  • Nov 10, 2011 7:28am Nov 10, 2011 7:28am
Actually I have two indicators to value SL & TP but only use one if entering a trade. I have fractals on my charts, just a much easier visual to see swing highs & lows, and then I have ATR default 14. I pull the ATR into the TDI window and change the band color to "none" so that I just get a numerical reading of ATR. Then it's just a matter of which I am more comfortable with or which looks to be the best possibility for 1) Not getting stopped out and 2) TP. MM takes care of the risk.

Maybe not the most definitive answer, sorry for that, but it works for me. Again, I use one or the other after looking at both. p.
  • #13,447
  • Nov 10, 2011 7:29am Nov 10, 2011 7:29am
Quoting smash85
why have you exited EU? The signal is still valid on h4 :-).
Big E says to exit at 6AM Pacific
  • #13,448
  • Nov 10, 2011 7:33am Nov 10, 2011 7:33am
Quoting piprac
Actually I have two indicators to value SL & TP but only use one if entering a trade. I have fractals on my charts, just a much easier visual to see swing highs & lows, and then I have ATR default 14. I pull the ATR into the TDI window and change the band color to "none" so that I just get a numerical reading of ATR. Then it's just a matter of which I am more comfortable with or which looks to be the best possibility for 1) Not getting stopped out and 2) TP. MM takes care of the risk.

Maybe not the most definitive answer, sorry for that,...
Kindly; do you use the numerical value of the ATR as it reads or do you multiply it with a factor. (e.g 1.5, 2 etc)
  • #13,449
  • Nov 10, 2011 7:41am Nov 10, 2011 7:41am
Quoting kijkij
Big E says to exit at 6AM Pacific

I copy!
  • #13,450
  • Nov 10, 2011 7:43am Nov 10, 2011 7:43am
Quoting Erebus
Easy as changing brokers, or at least get a MT4 demo account.

IB still running DOS aren't they? very clunky program when I trialled it, thought it was rubbish actually!
IB's trading tool Trade WorkStation (TWS) is absolutely outdated and totally not userfriendly. Indeed, it's as if IB is still stuck in DOS and everyone else isn't.
Needless to say I'm not using it.

A year ago I purchased Ninjatrader, not knowing MT4 existed. NT interfaces with TWS as a charting and trading package.
So basically I invested $1000 in a tool that's compatible with just a limited number of brokers, including IB. Nevertheless Ninjatrader is a great tool and IB is a stable broker. I'll continue demoing with this combination which works fine for me (profit wise not so much but that's my fault).
If I ever make it to live, then I'll decide if I'll switch brokers or not.
Financial independence is what I live for
  • #13,451
  • Nov 10, 2011 7:53am Nov 10, 2011 7:53am
Quoting smash85
I copy!
ts 7 minutes to 6AM pacific
  • #13,452
  • Nov 10, 2011 8:03am Nov 10, 2011 8:03am
Quoting martinipips
Kindly; do you use the numerical value of the ATR as it reads or do you multiply it with a factor. (e.g 1.5, 2 etc)
Usually, but not always, I use 1.5X for SL & 2-3X for TP BUT I also see where the fractals are. Then it is a judgement call on my part.
  • #13,453
  • Nov 10, 2011 8:12am Nov 10, 2011 8:12am
Quoting piprac
Usually, but not always, I use 1.5X for SL & 2-3X for TP BUT I also see where the fractals are. Then it is a judgement call on my part.
Thanks alot.
  • #13,454
  • Nov 10, 2011 8:25am Nov 10, 2011 8:25am
Quoting martinipips
ts 7 minutes to 6AM pacific
I googled the times and found the same...
  • #13,455
  • Nov 10, 2011 8:59am Nov 10, 2011 8:59am
Quoting LazyLobster
Please forgive me... What is a TS?
Yes, TS is trailing stop. I'm thinking 30 pips on daily timeframe
  • #13,456
  • Nov 10, 2011 9:02am Nov 10, 2011 9:02am
Quoting smash85
I googled the times and found the same...
Infact most brokers have adjusted their platforms time to cater for the time change; since monday this week.
  • #13,457
  • Nov 10, 2011 9:13am Nov 10, 2011 9:13am
sell eu h1

Attached Image (click to enlarge)
Click to Enlarge Name: 24.gif Size: 46 KB
  • #13,458
  • Nov 10, 2011 9:14am Nov 10, 2011 9:14am
hi evrey body
sell at 1.3585 eur usd
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd h1.gif Size: 20 KB
  • #13,459
  • Nov 10, 2011 9:44am Nov 10, 2011 9:44am
So Big E restarts trading at 7 am pacific? That is 16o´clock in my time or does he restart at 17o´clock (8 am pacific)?
  • #13,460
  • Nov 10, 2011 10:00am Nov 10, 2011 10:00am
Quoting smash85
So Big E restarts trading at 7 am pacific? That is 16o´clock in my time or does he restart at 17o´clock (8 am pacific)?
I don't know why everyone focus on Big E times, it has been pointed out many times, they are the same as LONDON OPEN, how hard is that to work out?
It takes a lot for me to IGNORE you, but you can try.
71 traders viewing now