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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

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Trading Made Simple

  • #13,861
  • Nov 29, 2011 11:11am Nov 29, 2011 11:11am
Quoting nunrgguy
Ya beat me by a second


Never mind. Next time you can beat me by a mile - lol

Besides colorful indicators also forget about synergy bars, I believe even candles doesn't mean anything. Candles are simply representing the broker's time. Forex market is open 24 hours a days so essentially there is no closure time and daily candles also doesn't mean anything.

I believe the most important thing on a chart are the potential turning points where price can turn around and these areas can be identified regardless of brokers time. Markets have very good memory and you will notice that the long term supports/resistance dated back many years are also respected. These long term support/resistance are the areas where smart money get on / off.

Just another perspective worth two cents.
Forex is boring but profitable with patience and discipline
  • #13,862
  • Nov 29, 2011 11:22am Nov 29, 2011 11:22am
Quoting Phx62
Yes....per Big E's TMS rules, entry can be made on the 1st or 2nd candle based on a change in candle color and a TDI cross. The TDI had crossed, the candle had change to blue, so I waited for PA to clear the high of the previous candle and entered with my normal 50 pip TP. PA was strong so I moved my TP to 100 but PA did not get there. I exited on the pullback for 71 pips.

Thnk you that helps.

Do you enter without a TDI cross (Just a color change and breach of high of previous candle) Otherwise on my chart this morning the sharp reversal long would have peaked before a cross. Be interested to see how you handled this morning

regards
  • #13,863
  • Nov 29, 2011 11:38am Nov 29, 2011 11:38am
Quoting hale-mary
I dont like fractals at all. I have seen too many times that prices can break a swing point only to come back to it. Plus, those on on my chart too. I have added the 5 sma which might be what I was missing. i am reviewing setups now. I am trying to stick with eelfranz original method. And only add stuff that might help me. As of right now. I am slowly going to start removing excess stuff on the charts one by one. (ONe I figure out how to delete certain indications of that custom indicator)
right click on chart and you will see a tab for "Indicators List" - click on the indicator and remove what you don't want. You can also do the same for "Objects List"
Attached Image (click to enlarge)
Click to Enlarge Name: Removing Indicators.gif Size: 46 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #13,864
  • Nov 29, 2011 11:49am Nov 29, 2011 11:49am
dude its not like that. It is one indicator and if you open it up it has all of the settings and stuff.
  • #13,865
  • Nov 29, 2011 11:52am Nov 29, 2011 11:52am
Quoting hale-mary
dude its not like that. It is one indicator and if you open it up it has all of the settings and stuff.
which indicator?
"To live with Passion, it takes Courage and Grace to survive"
  • #13,866
  • Nov 29, 2011 12:13pm Nov 29, 2011 12:13pm
Im trying to use as little as possible.I got rid of the stochastics because it didnt really seem to help.All i got is the tdi and the heiken ash candles.I read this book i think it was called millionaire traders and the guy in there said that you could basically be profitibale off one indicator if you study and back test enough.

I think one day when i get really good at this i might just get rid of the tdi and go straight price action no indicators.
  • #13,867
  • Nov 29, 2011 12:15pm Nov 29, 2011 12:15pm
Quoting hale-mary
I dont like fractals at all. I have seen too many times that prices can break a swing point only to come back to it. Plus, those on on my chart too. I have added the 5 sma which might be what I was missing. i am reviewing setups now. I am trying to stick with eelfranz original method. And only add stuff that might help me. As of right now. I am slowly going to start removing excess stuff on the charts one by one. (ONe I figure out how to delete certain indications of that custom indicator)
hale-mary

Right click on any chart which you want to delete indicators. In the drop down box that opens you will see a heading "Indicators List" left click on it and a box will open showing the indicators that are on that chart.
You can edit or delete any of them from this box.
Hope this helps you.
  • #13,868
  • Nov 29, 2011 12:20pm Nov 29, 2011 12:20pm
Quoting Britpip7
which indicator?

its called the craig harris grid. what you see on the chart is basically the indicator....you have to pay for it. dont worry about it.

I am reading eelfranz compiled posts. and trying to figure out how to know when to kill the trade when it is going against me. I might try that skype group
  • #13,869
  • Nov 29, 2011 1:09pm Nov 29, 2011 1:09pm
What skype group?
Which one i mean...
  • #13,870
  • Nov 29, 2011 3:19pm Nov 29, 2011 3:19pm
Quoting hale-mary
its called the craig harris grid. what you see on the chart is basically the indicator....you have to pay for it. dont worry about it.

I am pretty sure, if paid, this indicator must be compiled therefore you cannot change the source code. However, you may be able to play around with the indicatior settings provided user input is allowed at the front end.
Forex is boring but profitable with patience and discipline
  • #13,871
  • Nov 29, 2011 3:37pm Nov 29, 2011 3:37pm
you can do anything with it. he gave the mq4 file. Lets not bother about this anymore. I rather focus on the method than a trivial indicator.
  • #13,872
  • Nov 29, 2011 4:48pm Nov 29, 2011 4:48pm
Quoting prftablefool
Price stalling at FTA as expected. Closed 50% of the initial position with +300 pips and entered a sell stop past FTA.
Would like to have only 2-3 trades like this in a month to have a reasonable bottom line. Sell Stop triggered beyond FTA. Next expected stop - 1.7200
Attached Image (click to enlarge)
Click to Enlarge Name: EURNZDH8.png Size: 52 KB
Forex is boring but profitable with patience and discipline
  • #13,873
  • Nov 29, 2011 6:15pm Nov 29, 2011 6:15pm
Quoting prftablefool
Would like to have only 2-3 trades like this in a month to have a reasonable bottom line. Sell Stop triggered beyond FTA. Next expected stop - 1.7200
Very nicely taken - eur/nzd is fun but some of the SL settings on swing H/L will make yours eyes water!

I watched this one after it gapped down and then was away from the screen for several hours - next time
"To live with Passion, it takes Courage and Grace to survive"
  • #13,874
  • Nov 29, 2011 6:23pm Nov 29, 2011 6:23pm
This will be interesting seeing as we have news in 10 mins - can the au punch through the 1.0000 BRN and keep going. H4 keeps hitting and sticking for the past 4 candles. Entry taken from the H4 fractal and then added 25 pips to the 1.0000 level. Soon, all will be made clear - or not!
Attached Image (click to enlarge)
Click to Enlarge Name: au day 11-29.gif Size: 25 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #13,875
  • Nov 29, 2011 6:50pm Nov 29, 2011 6:50pm
Quoting mikiantony
Thnk you that helps.

Do you enter without a TDI cross (Just a color change and breach of high of previous candle) Otherwise on my chart this morning the sharp reversal long would have peaked before a cross. Be interested to see how you handled this morning

regards
In answer to your comments, attached is a chart for the three trades I took this morning.
Trade 1 Following the close of the first red candle and a cross of the TDI, plus knowing volume increases at the opening of the London session, I entered the trade. It moved about 28 pips in my favor and then reversed. I closed it at breakeven.
Trade 2 On the close of the first blue candle and cross of the TDI, I tried several times to enter a trade but due to volume (from GBP news), the trade was not opened until the third or fouth try. It reach the 50 pip TP quickly.
Trade 3 Again following the cross of the TDI and the seeing the long upper wick on the third blue candle of the session and taking into consideration it failed to reach the high of the candle before, I entered as the candle pulled below the blue and turned red. This trade was successful as well, even though I was unable to monitor it.
Regards
Attached Image (click to enlarge)
Click to Enlarge Name: 11.29.11.gif Size: 67 KB
  • #13,876
  • Nov 29, 2011 7:45pm Nov 29, 2011 7:45pm
Quoting Britpip7
This will be interesting seeing as we have news in 10 mins - can the au punch through the 1.0000 BRN and keep going. H4 keeps hitting and sticking for the past 4 candles. Entry taken from the H4 fractal and then added 25 pips to the 1.0000 level. Soon, all will be made clear - or not!

In the last two days this baby is running like there is no tomorrow (took off 50% once it approached BRN).
Attached Image (click to enlarge)
Click to Enlarge Name: audusd daily.gif Size: 25 KB
Forex is boring but profitable with patience and discipline
  • #13,877
  • Nov 29, 2011 10:20pm Nov 29, 2011 10:20pm
Quoting prftablefool
In the last two days this baby is running like there is no tomorrow (took off 50% once it approached BRN).
looks like it is having another nap = back to BRN for a rest!
"To live with Passion, it takes Courage and Grace to survive"
  • #13,878
  • Nov 29, 2011 11:11pm Nov 29, 2011 11:11pm
@ which page i can get Update TPL n Indicators
  • #13,879
  • Nov 30, 2011 12:04am Nov 30, 2011 12:04am
Quoting Phx62
In answer to your comments, attached is a chart for the three trades I took this morning.
Trade 1 Following the close of the first red candle and a cross of the TDI, plus knowing volume increases at the opening of the London session, I entered the trade. It moved about 28 pips in my favor and then reversed. I closed it at breakeven.
Trade 2 On the close of the first blue candle and cross of the TDI, I tried several times to enter a trade but due to volume (from GBP news), the trade was not opened until the third or fouth try. It...
Thank you very much, for your explanation fully detailing your analysis when you enter a trade.
  • #13,880
  • Nov 30, 2011 1:10am Nov 30, 2011 1:10am
+1

I'd like to thank you aswell Phx for these explanations.
It seems like i have to be a little more confident in my abilities. Yesterday i managed to squeeze more pips from the first 2 trades, but i was frozen in fear to enter on the NY opening.

Thank you again.
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