Trading Made Simple

After reading the whole thread and doing lots of backtesting I have two questions:

1. Big E wrote that he checks for set ups at 10pm (Pacific), again at 2am, and closes all trades by 6am. In between he sleeps and does not manage the trades. What if open trades are negativ at 6am. Does he still close them?

2. Big E also wrote that he usually uses a SL at the last swing low (or no SL at all) and a TP of 50. On the H4 timeframe this results in a terrible R:R ratio (risk much higher than reward) and led to consistent losses in my backtesting. Or did everybody switch to dcginc's ATR(7) SL/TP logic?

Thank you for this thread! Its huge but I learned a lot!

gary

Hi,

First post atlast! Ive been lurking since near the start of the thread and I have also (painfully) read every single post.

You are absolutely right gms, there is a whole lot of good information in this thread, alot of which can be transferred to other methods and styles of trading.

To answer your questions:

1. It is my understanding that big E closes his trades at 6am Pacific regardless of profit or loss.

2. Though he trades without a stoploss or with an emergency SL at the last swing high/low, I do not believe big E ever said he had a take profit of 50. I believe he only closes if the trade goes back on him a certain amount (20-30 pips if my memory serves me right?) or if there is a checkmark reversal, flat tdi or tdi is starting to hook over. dcginc's exit strat is one of several in this thread. You have to choose which is best for you or develop your own to suit your needs, I feel.

I have to point out that I am not an expert by any means, I am still a student myself. I have read and paid alot of attention, though. I need to start getting more involved now and put all I've learned into practice...

stop and reverse (I feel)

130 pips

A fractal on the way up

A nice long is developing in 90 min. coming up from level 32.

thank you Big E

Nice going Duca

Yub a big thnaks to Big E

Be careful duca, your trading into 1.3 and against a calm un-volatile trend..

I wish you well with your trade though..

add buy stop @2825

stop & reverse

I took a a very small short for testing purpos.
I see a support, fractal and wicks on the setup candle.
If price manage to clear these two I expect a good short.

wish me luck

I'm also shorting N/U right now.. I set the trade to BE before I left for work this morning.

closed

a little "thank you" to all that shared here....

Attached please find revised version of Xaphod's already excellent indicator TMS OSC Cross for TDI which allows to limit line cross notification to user selectable areas, ie. cross down above x and cross up below y or show alert arrows for upward crosses below 32 and downward crosses above 68 as suggested by BigE

E/U is running fine.
NZ is still.