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Trading Made Simple

  • #14,501
  • Feb 2, 2012 6:20am Feb 2, 2012 6:20am
Quoting Erebus
Please let me know if you do not agree with any of that!
This thread is to discuss the Trading Made Simple strategy, which uses numerous indicators. If you don't agree with the use of indicators please refrain from posting further.
  • #14,502
  • Feb 2, 2012 12:45pm Feb 2, 2012 12:45pm
Quoting TheMaxx
This thread is to discuss the Trading Made Simple strategy, which uses numerous indicators. If you don't agree with the use of indicators please refrain from posting further.
I don't think Erebus mean't to detract from the TMS intended rules and indicators, in fact he's comments were the most logical and true statements that every trader needs drilled into their head!

When BOJ or Swiss Bank decide that they want to manipulate the markets, you will be screwed if you don't have a stop loss set. It will wipe out your whole account in the blink of an eye.

What's stopping any other central bank from doing the same? Nothing.....

SET A STOP LOSS ON EVERY TRADE!
  • #14,503
  • Feb 2, 2012 1:24pm Feb 2, 2012 1:24pm
Not sure what the issue is here - Erebus hasn't said anything against TMS but has pointed out that to blindly follow an indicator without understanding what the PA is telling you is a trading disaster.

All indicators are lagging - they will not pick up on large candle moves because they depend on averaging.

No one is detracting from BigE's approach and he has on many occassions preached about forex basics. He also exited trades that were starting to pull back and then looked for new entry positions and that this strategy saved him many pips.

You will see numerous comments of folks that exit at the first sign of the TDI flatenning only to watch it continue on its merry way, so back test and forward test - trading the TDI live is completely different from back testing.

Trade per you trading plan and adapt TMS so that it works for your trading style.
"To live with Passion, it takes Courage and Grace to survive"
  • #14,504
  • Feb 2, 2012 2:13pm Feb 2, 2012 2:13pm
Quoting TheMaxx
This thread is to discuss the Trading Made Simple strategy, which uses numerous indicators. If you don't agree with the use of indicators please refrain from posting further.
If you don't agree with my posts, please refrain from reading further.

The indicators are fine, but they will NOT get you out of a losing trade; only a stop loss will do that, and if you blindly follow Big E or anyone else advice to trade without stops, well, we know how that will end, financially & emotionally stressed.

It takes a lot for me to IGNORE you, but you can try.
  • #14,505
  • Feb 2, 2012 2:14pm Feb 2, 2012 2:14pm
Quoting jasonnevis
I don't think Erebus mean't to detract from the TMS intended rules and indicators, in fact he's comments were the most logical and true statements that every trader needs drilled into their head!

When BOJ or Swiss Bank decide that they want to manipulate the markets, you will be screwed if you don't have a stop loss set. It will wipe out your whole account in the blink of an eye.

What's stopping any other central bank from doing the same? Nothing.....

SET A STOP LOSS ON EVERY TRADE!
Thank you jasonnevis , this was my point exactly, very well said.
It takes a lot for me to IGNORE you, but you can try.
  • #14,506
  • Feb 2, 2012 2:17pm Feb 2, 2012 2:17pm
Quoting Britpip7
Not sure what the issue is here - Erebus hasn't said anything against TMS but has pointed out that to blindly follow an indicator without understanding what the PA is telling you is a trading disaster.

All indicators are lagging - they will not pick up on large candle moves because they depend on averaging.

No one is detracting from BigE's approach and he has on many occassions preached about forex basics. He also exited trades that were starting to pull back and then looked for new entry positions and that this strategy saved him many...
Thank you Britpip7 , very well said & very true words! Especially the part about having a PLAN, works for me

It takes a lot for me to IGNORE you, but you can try.
  • #14,507
  • Feb 2, 2012 2:48pm Feb 2, 2012 2:48pm
Logic would tell me to never to enter a trade without having a pre-defined
stoploss placement.
Now this is part of my perception of risk, this is very important to me...
Its part of my trading plan...its part of what gives me confidence when i
have a bad run of trades....( knowing i am regulating risk )..

I have 2 good friends ( 1 now retired in his early 40's) who worked/work for large hedge funds, trading stocks in the London arena.
When I mention stoploss's etc they laugh, both never used/use stop losses
because that gave the game away to the opposition !...
Now admittingly they worked in a completley different enviroment, one was a head trader on a floor, trading a pot of 1 "yard" + ( 1 billion £ + !!)
and no stop losses,,,LOL

This is common practice in this enviroment...

What i'm trying to say, if you you want succeed in this game its all about what works for you..your trade plan...

It took me years of yo-yoing accounts to realise this, i know this now because of years of continual banging my head against the wall
thinking it was all about the strategy !.

Risk...Money Management...Discipline.... once you understand these it will
all start to click... ( right i get it now ).

Its great that forex factory brings everybody together in one big melting pot, new & old. A few years ago i never would have dreamed of even
submitting a reply to FF. but as my age is ascending : ( it makes you feel like trying to give something back..

Its cool that everyone wants to put there view across, but I think we should remember, its our view and that's it...We should be calm in our reply,
as we should in our trading...

Help those who want help, listen to those who want to talk.....

Ja..
Memories caught in time but never forgotten
  • #14,508
  • Feb 2, 2012 2:48pm Feb 2, 2012 2:48pm
Hi guys,

First Day - First Thread *g*.

Tdi is a very interesting Trading Style.

i'am currently playing around with TDI to generate a EA.

i use the Entry conditions with a Stoch Comfirm.

Mostly very good at all. But the Exits are mostly not well.

They are very early. So for exit Bullish green < red, green > 32, green > vbl.

Exiting with that conditions i have a not very good R:R.

May you have some good impressions for using an special Indicator for Exiting trades much better?.

Muchas thx

Max
  • #14,509
  • Feb 2, 2012 3:03pm Feb 2, 2012 3:03pm
Quoting j4d
Logic would tell me to never to enter a trade without having a pre-defined
stoploss placement.
Now this is part of my perception of risk, this is very important to me...
Its part of my trading plan...its part of what gives me confidence when i
have a bad run of trades....( knowing i am regulating risk )..

I have 2 good friends ( 1 now retired in his early 40's) who worked/work for large hedge funds, trading stocks in the London arena.
When I mention stoploss's etc they laugh, both never used/use stop losses
because that gave the game away to...
Nicely put Ja.

Interstingly with regards to SL, the larger traders often do not use them for the very reason that they are then open to SL attacks which is very common in forex. Even Goldman's EU SL was run over a few weeks back, so it happens to the big guys as well as us retail traders.

The main issue is that most retail traders do not use adequate SL setting and wonder why their SL gets triggered, and then the trade continues back on its merry way. I often see H4 and Day chart traders puzzling why their trade got killed with a 30pip SL. For retail traders, my belief is that an emergency SL is essential, but for exits, everyone is different, henc the need for a trading plan and the need to follow it / revise it nad actually use it!

Setting SL based on previous swing / candle H/L is a good approach - I prefer to base mine on the ATR(7) value depending on whether I am trading reversals or continuations with an Add-on. This is where back testing will allow you to test for drawdowns and build your data for where you place your SL.

Also research other methods such as the Compass FX approach - they have lots of videos based on their methodology - BigE refers to the Dean Malone approach a lot and based TMS on that and the Criag Harris approaches.
"To live with Passion, it takes Courage and Grace to survive"
  • #14,510
  • Feb 2, 2012 3:05pm Feb 2, 2012 3:05pm
Quoting Max_001
Hi guys,

First Day - First Thread *g*.

Tdi is a very interesting Trading Style.

i'am currently playing around with TDI to generate a EA.

i use the Entry conditions with a Stoch Comfirm.

Mostly very good at all. But the Exits are mostly not well.

They are very early. So for exit Bullish green < red, green > 32, green > vbl.

Exiting with that conditions i have a not very good R:R.

May you have some good impressions for using an special Indicator for Exiting trades much better?.

Muchas thx

Max
you might want to check this out - http://www.forexfactory.com/showthread.php?t=332760
"To live with Passion, it takes Courage and Grace to survive"
  • #14,511
  • Edited 4:08pm Feb 2, 2012 3:50pm | Edited 4:08pm
Hi everyone,
I'm currently new to the method and I took this trade demonstrated by the red vertical line. But as you can see it quickly flattened. Can anyone help me as to how determine a better entry position

http://dl.dropbox.com/u/60261890/test%202.png
  • #14,512
  • Feb 2, 2012 4:14pm Feb 2, 2012 4:14pm
Quoting jcarp
Hi everyone,
I'm currently new to the method and I took this trade demonstrated by the red vertical line. But as you can see it quickly flattened. Can anyone help me as to how determine a better entry position

http://dl.dropbox.com/u/60261890/test%202.png
Hi, this is my first post as well, I suggest Trendlines
  • #14,513
  • Feb 2, 2012 4:58pm Feb 2, 2012 4:58pm
Oh gosh thanks a lot, completely forgot to check the trend, well I zoomed out and inserted a channel, noticed that it's fluctuating between that small area. Oops.
http://dl.dropbox.com/u/60261890/test%203.png
  • #14,514
  • Edited 11:17pm Feb 2, 2012 6:08pm | Edited 11:17pm
http://forex-strategies-revealed.com...d-strength.png

http://forex-strategies-revealed.com...d_Strength.mq4

I have found an indicator that can help filter out range bound trading, the original link is

http://forex-strategies-revealed.com...dard-deviation

If it is going up the trend is gaining strength.
If it is going down it is losing strength and is either turning into a range or a reversal to be seen soon.
If it is hugging the bottom you are in a ranging market.

The author also suggests using ATR and std-deviation to identify trending and ranging market, I like this one better.

Hopefully, this helps.

David Wu
  • #14,515
  • Feb 2, 2012 6:41pm Feb 2, 2012 6:41pm
Quoting alongforex
Hi, this is my first post as well, I suggest Trendlines
The candle to the left of the red line had large wicks top & bottom, indecision, plus the ema (yel) and the rsi (I think that's what it is called,red) are flat.
  • #14,516
  • Feb 3, 2012 3:44am Feb 3, 2012 3:44am
Hi Chaps

First post here so be gentle!
I was recently introduced to trading on the Foreign Exchange by pure chance. After chatting to someone over the weekend, he told me how he started two years ago and now draws in vast sums of money (tax free), and how anyone can trade, assuming they follow certain criteria.

Obviously it's easy to get carried away with this, thinking you'll become a millionaire over night, so I approached with caution.
One of the strategies this guys uses is 'Payback Trader' by Jason Alexander.

It basically identifies turning points on the candle chart, and cross referencing this with the Stochastic chart (red above green for long / red below green for short) and then look at the MACD (as soon as the first red or green bar appears, place the ticket in the direction it's going, assuming the other 'indicators' give you the go-ahead).

Anyway, the short story is - now I'm intrigued by the FOREX and stumbled across this website and the many trading systems.
I thought I would kick off with this one but there's like 1000 pages. I'm not looking for a shortcut here, but is there a comprehensive document which explains the nut's and bolt's of this method, or is it a case of trawling through the whole thread?

Would this be the recommended method for beginners?


Kind Regards
Seb
  • #14,517
  • Feb 3, 2012 5:45am Feb 3, 2012 5:45am
I add the chart with Zigzag Fractal and Zigzag semafor. The result is I can see the top and bottom easily. The chart I enclosed is GU H4.
Attached Image (click to enlarge)
Click to Enlarge Name: tms combined.gif Size: 18 KB
Attached File(s)
File Type: ex4 3_Level_ZZ_Semafor.ex4   43 KB | 477 downloads
  • #14,518
  • Feb 3, 2012 6:01am Feb 3, 2012 6:01am
Quoting Sebastian1
Hi Chaps

First post here so be gentle!
I was recently introduced to trading on the Foreign Exchange by pure chance. After chatting to someone over the weekend, he told me how he started two years ago and now draws in vast sums of money (tax free), and how anyone can trade, assuming they follow certain criteria.

Obviously it's easy to get carried away with this, thinking you'll become a millionaire over night, so I approached with caution.
One of the strategies this guys uses is 'Payback Trader' by Jason Alexander.

It basically identifies...
yes read the first post. This is a very simple method which relys on the tdi indicator. The main thing to know is nothing beats screen time. after seeing the patterns emerge over and over again you are going to be confident on the ones which you know are going to turn out good. This is a great system for 1hr and higher.
  • #14,519
  • Feb 3, 2012 6:22am Feb 3, 2012 6:22am
Quoting Sebastian1
Hi Chaps

First post here so be gentle!
I was recently introduced to trading on the Foreign Exchange by pure chance. After chatting to someone over the weekend, he told me how he started two years ago and now draws in vast sums of money (tax free), and how anyone can trade, assuming they follow certain criteria.

Obviously it's easy to get carried away with this, thinking you'll become a millionaire over night, so I approached with caution.
One of the strategies this guys uses is 'Payback Trader' by Jason Alexander.

It basically identifies turning...
Welcome to the forex world my friend.
You have a long journey ahead. This is a lovely thread to start off with but before you even start learning a system i want you to obtain the basics of trading.
Go to www.babypips.com there you will see a school where they will teach you everything you want to know about forex all for free and then when you finish graduate then you come back to this thread. thats when you will be ready to learn a trading system.
X-man the legendary conqueror of markets
  • #14,520
  • Feb 3, 2012 6:36am Feb 3, 2012 6:36am
Quoting Sebastian1
Hi Chaps

First post here so be gentle!
I was recently introduced to trading on the Foreign Exchange by pure chance. After chatting to someone over the weekend, he told me how he started two years ago and now draws in vast sums of money (tax free), and how anyone can trade, assuming they follow certain criteria.

Obviously it's easy to get carried away with this, thinking you'll become a millionaire over night, so I approached with caution.

One of the strategies this guys uses is 'Payback Trader' by Jason Alexander.

It basically...
I would get real chummy with your new friend, since "now draws in vast sums of money" or at least follow the same method he uses; can't he teach you how to use the method.

Seriously, be easier than wading thru this lot!!!

It takes a lot for me to IGNORE you, but you can try.
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