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Monitor for 'Trading Made Simple' system 565 replies

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

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Trading Made Simple system follower - Thanks to eelfranz 9 replies

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Trading Made Simple

  • #13,801
  • Nov 25, 2011 1:46pm Nov 25, 2011 1:46pm
Quoting Phx62
... patience and not overtrading are two of the keys to success. In my early days of trading, I tried to take every entry signal, regardless of time frame or time of day and could not seem to hold on to the pips.
Dude, you must have been looking over my shoulder all this week, lol. Gotta frame those words in bold and hang them next to my trading computer.
  • #13,802
  • Nov 25, 2011 2:05pm Nov 25, 2011 2:05pm
I've been studying your chart and those previously posted by X-Man. Amazing what you can learn by looking at charts after reading the rules/theory!

Question about your early entry on this morning's London trade. Was your entry when PA broke below the low of the blue candle?
  • #13,803
  • Nov 25, 2011 3:03pm Nov 25, 2011 3:03pm
Phx62... your broker is on GMT?
It looks like, but i want to be sure.

Thx.

Btw.. nice entries
Took almost the same entry today, but got 65pips.
  • #13,804
  • Nov 25, 2011 4:00pm Nov 25, 2011 4:00pm
Quoting piprac
X-Man - take a look over on BabyPips, someone has started an SHI strategy over there, you might want to compare/contrast with it when you start your new thread.

Q. - you don't use your SHI channel with the 1H London & NY opens, right?

Again, many thanks to you and all of the contributors that perhaps wil get me on the right track - if I pay attention!! p.
No i dont ust the channel for the 1H trading i do at the london and NY opening.
I only use the shi channel for my long term trades.
i have started the thread already based on my trading strategies.
So if you want to know more about my swing trades you can visit my thread
X-man the legendary conqueror of markets
  • #13,805
  • Nov 25, 2011 4:40pm Nov 25, 2011 4:40pm
YAY! Used X-MAN's 1H E/U method yesterday, made 60 pips. Entered 1 stick after the first vertical line.

Now I find it very important to study the open and close (the green "-" ) as it gives me a good idea whats the PA is doing.

Weekend is here, it's backtesting time.

Thanks again X-MAN.
  • #13,806
  • Nov 25, 2011 4:48pm Nov 25, 2011 4:48pm
Quoting vcary
Phx62, Thanks for your explanations. Do you always use the stochastic?
I find that I use stochs less and less on the H1 time frame.....once one learns PA and how the market moves on a certain pair, there is less need to look at stochastic. I still find it useful if I scalp a few pips on the M15 time frame. It does comfirm overbought and oversold there.
  • #13,807
  • Nov 25, 2011 5:01pm Nov 25, 2011 5:01pm
Quoting ForexIdiot
I've been studying your chart and those previously posted by X-Man. Amazing what you can learn by looking at charts after reading the rules/theory!

Question about your early entry on this morning's London trade. Was your entry when PA broke below the low of the blue candle?
Yes, I took the trade on a strong break of the low of the blue candle. The TDI was just even with the red line when I took the trade and moved below it when the next hour completed. I am very comfortable with trading the 1st or 2nd candle of the London Open because there is usually lots of volume. Even if it reverses on you, as long as you are monitoring the chart, you can usually get out at BE or a few pips either way and then re-enter. When the market is moving, it is a lot easier to detemine trend and direction.
Success to you in your trading.
  • #13,808
  • Nov 25, 2011 5:35pm Nov 25, 2011 5:35pm
Quoting prftablefool
Congrats !

Your winning ratio is great. I am no expert but if you just let your profits run your top line (GP - GL) will improve automatically.

I know it is easy to say in hindsight that your AUDUSD of November 16 at 1.0045 cleared the troubled area of 1.0120 as well as BRN 1.0000 and if you would have just let the trade run to the next expected stop at 0.9700 (Sept 26) it would have net you more than 300 pips in one trade alone.

Just my opinion of two cents.
you are absolutely correct and this is part of the trading plan. Still messing with the trades and SL too much!

also looking at add-ons as the trades run longer - one thing I am very pleased with is reducing the number of trades I am taking - essentially this was from 10 entry positions so much less stress and the pip count now gets me into being able to trade full time once my balance improves.
"To live with Passion, it takes Courage and Grace to survive"
  • #13,809
  • Nov 26, 2011 12:54am Nov 26, 2011 12:54am
Thanks for all of your work eelfranz. I just subscribed to the thread, so I have a lot of reading to do. I just wanted to say that I appreciate your work.
may you find what you seek and trade what you find
  • #13,810
  • Nov 26, 2011 12:43pm Nov 26, 2011 12:43pm
Hi, Do you know anyone who does EA programing for a fee? Thanks

Quoting eelfranz
1st Trading Chart... Note on the TDI showing your entry set ups... green crossing red enter on that new PA candle...
  • #13,811
  • Nov 26, 2011 7:28pm Nov 26, 2011 7:28pm
Quoting rick071
Hi, Do you know anyone who does EA programing for a fee? Thanks
Hi Rick071,
check this thread http://www.forexfactory.com/showthread.php?t=292301
  • #13,812
  • Nov 26, 2011 11:36pm Nov 26, 2011 11:36pm
  •  fivex
  • | Joined Sep 2011 | Status: This is the title that appears | 247 Posts
Quoting Luchetto93
Hi Rick071,
check this thread http://www.forexfactory.com/showthread.php?t=292301
I Don't think Hopwood is available in FF
try http://www.stevehopwoodforex.com/phpBB3/index.php
  • #13,813
  • Nov 27, 2011 1:46am Nov 27, 2011 1:46am
Quoting X-Man
I'm going to type my trading plan which is very simple yet very profitable.
Its exactly what big E thought us at the start of the thread.

- Time frame = 1 H
- Pair = E/U
- Times = London opening and new york opening (You can trade any cross but the signals at these times work 70% to 80% of the time)
Indicators = Synergy bars , TDI , 4EMA shift 2

1. Mark the 6:00(london) and 12:00(new york) on your platform with vertical lines when you open your chart
(look at my previous chart that i posted for an example, the times might be...
very nice... followed.. thx xman

btw i have a few question

what if there are news for the currency at that trading time, should i open trade?

can this method use for other currency?
  • #13,814
  • Nov 27, 2011 5:27am Nov 27, 2011 5:27am
Hi everybody,
I would like to create or join an existing team in order to trade this "Trading Made Simple" method in order to trade in London and NY session.
This team could exchange information in live and talk about the different opportunities.
I'm french and I talk english so we could talk in different language for those who have problem with english.
This team will have for goal to improve the level of each partipant and improve the level of trading of each others....
Every body is welcom to join this team.
  • #13,815
  • Nov 27, 2011 12:08pm Nov 27, 2011 12:08pm
Quoting MehdiForX
Hi everybody,
I would like to introduce myself and try to explain my Forex strategy in order to discuss about it with people who got more experience.
I’m using the trade made simple method since 4-6 months in demo on the 1hr time frame on majors [EURUSD, GBPUSD …] with quite good result. (by the way thanks to all the people that help on this thread).
All my trade has a target of 15 pips and the SL takes as the last High or Low with standard entries as describe by ELFranz.
I’ll soon start in real with an initial deposit of 500 euros (I’m from France).
On...
Not too sure about a SL that is less than the ATR for any given Timeframe.

Phx62 is using an emergency SL of 50 and this gives him great results.

With a SL of 15 how often do you get stopped out? Does this mean you do not trade if the swing H/L is greater than 15pips?
"To live with Passion, it takes Courage and Grace to survive"
  • #13,816
  • Nov 27, 2011 5:41pm Nov 27, 2011 5:41pm
Dont know if I saw this but how do we deal with GAPS with this method. There are HUGE ones today on GU and EU.

It is throwing off my analysis because I know what could occur with a GAP. May be useless analysis. I dont know. I would appreciate guidance for this.
  • #13,817
  • Nov 27, 2011 7:59pm Nov 27, 2011 7:59pm
Quoting Britpip7
Not too sure about a SL that is less than the ATR for any given Timeframe.

Phx62 is using an emergency SL of 50 and this gives him great results.

With a SL of 15 how often do you get stopped out? Does this mean you do not trade if the swing H/L is greater than 15pips?
I'm reading his post that his TARGET is 15 pips and the Stop Loss is recent high or low, which means that often his RISK will more than his reward?

Good luck with that, got a plane to catch, 4 actually, bon voyage
It takes a lot for me to IGNORE you, but you can try.
  • #13,818
  • Nov 27, 2011 8:19pm Nov 27, 2011 8:19pm
Another trade at BE with a potential run up of 400 pips. FTA is at 1.7540.
Attached Image (click to enlarge)
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Forex is boring but profitable with patience and discipline
  • #13,819
  • Nov 28, 2011 2:45am Nov 28, 2011 2:45am
Quoting hale-mary
Dont know if I saw this but how do we deal with GAPS with this method. There are HUGE ones today on GU and EU.

It is throwing off my analysis because I know what could occur with a GAP. May be useless analysis. I dont know. I would appreciate guidance for this.
This is advice only, but if there are gaps and you are not trading them specifically, it is a good idea to stay out till it is clear that they are finished closing, or that they are going to conitinue their trend. I used to trade them and they close most of the time to a point. Won't go into it here, but withe TMS, I would wait till Price action tells you what you need to know. With Gaps like this, it might even be prudent to stay out for the night. Hope this helps.
"IN CASH WE TRUST"
  • #13,820
  • Nov 28, 2011 4:23am Nov 28, 2011 4:23am
My H4 candle formed 15 minutes ago, here are the trades I took.

Long eur/usd, aud/usd.

Short usd/chf.

Could have taken gbp/usd aswell but wanted to avoid over exposure. Most of the TDI's crosses were cause by the large gap this morning in the asian session which I didn't take. That gap obviously skewed the TDI for the whole day, so I am treating these entries as bounce trades per se.

All look okay against the daily, EUR/USD could be the reversal and probably the most risky. AUD looks good on the daily, CHF a bit rangy on the daily.
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