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Trading Made Simple

  • #14,721
  • Mar 16, 2012 12:54pm Mar 16, 2012 12:54pm
[quote=chewz;5484465]Did anyone take this on eur/usd? You can see I have 3 versions of tdi, and as usual the tdi RT (which moves in real time) now shows as if that wasn't a trade, proving my point once again! It did originally show a cross going down like the other two, but not due to a large candle (news) it shows it as if it wasnt a trade.

I know I havn't been trading this method long, from what I know of most indictors and seems to be the same for the tdi I got from the begining of this thread is they all move with price, thats why you see a cross then a bounce on this eurusd sell today, but I too looked at the charts at the cross you mentioned which for me was 11am london time candle open.

I did not take the trade, because I saw a bad set-up to sell- yes the stochastic was in aggreemt at the cross over, but I saw 2 things on the tdi which made me keep out of the trade, firstly the tdi green line angle was not similar to the stochastic and was around the 3-4 hour mark, and the Tdi had made a double bottom while price was making lower lows. Plus as I trade with trend lines and channels I saw price unable to break a daily support and was bouncing up of the middle of the 4 hr down channel.

I have attached a chart showing what I mean. In fact I posted this very same set-up in another forum showing the bad entry today on the eurusd, and then the bounce after price had moved.

joffie
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 30 KB
  • #14,722
  • Mar 16, 2012 12:57pm Mar 16, 2012 12:57pm
Quoting thrasher88
Hey Only20GP, you seem to be pretty successful with your trades, maybe I can pick your brain on this one. I know it wasn't the GREATEST cross but I thought I might be able to grab a few quick pips... Almost as soon as I entered on the open of the candle directly after the cross candle it started going the other way... is there anything I might be missing or is it one of those 25%'rs ? Thanks in advance!
Hey man, that is pretty good setup for a trade in my opinion, only thing is the time you took the trade. From what Big E said, during those times is when you should be closing your trades and not opening them. If you scroll back a few posts to post #14689 you will notice me saying that during those times I dont trade because often the price will do exactly the opposite from what our signals are telling us. But thats just my opinion. The reversal you saw there had to do with the News.

I know its fustrating sometimes, even for me when I look at the charts and dont see any decent setups and then have to wait 4 more hours and still no setup and thats the end of my trading period. But as a trader, I want to enter a trade with absolute confidence in it and not with a gambling mentality, so thats why I have a set of rules and try not to break them. I did see that setup earlier and was tempted but an alarm went off inside me saying

1- News coming out.
2- Not your trading times.

Had I seen that setup 1 or 2 candles before, I would have definetly taken it. What I do in times like that is trade a diffrent system. At the moment I am testing another system so that in days like this i dont feel like it was a worthless day cause I didnt take on any trade.
  • #14,723
  • Mar 16, 2012 2:16pm Mar 16, 2012 2:16pm
Quoting chewz
thrasher88 you mentioned before about using tdi rt and explained about using the standard tdi if market went the other way the standard tdi would remain in its position until start of new candle. You gave impression you used tdi rt and exit when it goes flat (and that it moves in real time - which i diddnt like). But just looking on your chart I see your using watchdog tdi. I thought it doesnt update in real time?
Hey, sorry for the confusion... I guess it doesn't, but I hit refresh all the time, like before trades and/or during, it updates... It would be a really lagging indicator I think if i took what it said at the start of a 4hr bar and used that for the whole bar...

Thanks for the info 20GP... I definitely see what your saying, especially with the news I should've checked (duhh, something I used to do even on my DEMO acc't)... I also see what your saying about the US Session open candle, only thing is that on my chart, the candles form @ midnight, 4am and 8am EST... and I find that going back there are lots of big moves where the candle crosses strong on the 4am and your entry would be 8am and take off from there... I'm not arguing your advice or anything just something I've noticed...
  • #14,724
  • Mar 17, 2012 4:18am Mar 17, 2012 4:18am
Quoting astral77
Hi
I know a lot of people have uploaded indicators which defeat the trading made simple principles, however, to help you avoid low volatility / choppy markets, you may want to use BANDWIDTH INDICATOR (set the period to 7).

The formula of this indicator was originally published by John Bollinger. Then for some reason Mr Malone whose SYNERGY is the basis behind TMS decided to call it SYNERGY VOLATILITY as part of his advanced synergy bundle and sell the package for $497.00!!!

As you can see from the chart it is the copy of Bandwidth indicator (period7)....
Hi Astral,

Thanks for this. I'll give it a go and see if I can incorporate it into my trading.
In boxing, all the champion's results are visible. In forex, talk is cheap.
  • #14,725
  • Mar 17, 2012 11:29am Mar 17, 2012 11:29am
I see in the picture posted by only20gp for the bandwidth indicator there is a level of 0.3 on the indicator. Is this the level that you would use to trade if the line is above 0.3 or should you go higher like 0.5?
  • #14,726
  • Mar 17, 2012 3:11pm Mar 17, 2012 3:11pm
Quoting Anu_
Hello everyone,

Great thread and I am putting my full effort to learn this. A big thank you to all authors and contributors for sharing this valuable info free of charge.

[color=black][font=Verdana]I read the first 50 - 60 posts and set up the template etc on my demo account y'day. So, I am pretty much informed but have a few questions if anyone can quickly clarify for...
Anu, a suggestion to you & all newbies struggling to learn this method -

Do not be mislead by the word SIMPLE in the title, it is not that, it is discretionary method, that means it is NOT rule based, everyone needs to make decision based on their experience, which you don't have, that is why there are 20 million questions about this & that, endless pages of SIMPLE trading, why are they not reporting thousands of dollars profit instead?

Think about it!

Go and read this thread just started, not by me, it really is very simple, best thing, it has MECHANICAL rules, trade entry is based on PRICE, guess what, no time wasting asking about how it looks or did it cross!!

What have you got to lose, check it out at -

Forex CobraSystem



EDIT: Another thing, it only uses standard MT4 indicators, no need to download extra indicator everyday like the last few pages on this this thread, think about it, if so SIMPLE, why they need more indicators to filter the trades?

It takes a lot for me to IGNORE you, but you can try.
  • #14,727
  • Mar 17, 2012 4:05pm Mar 17, 2012 4:05pm
Quoting JayCee007
I see in the picture posted by only20gp for the bandwidth indicator there is a level of 0.3 on the indicator. Is this the level that you would use to trade if the line is above 0.3 or should you go higher like 0.5?
Hi JayCee, I dont even know what bandwidth indicators are or what they do, if you are referring to the blue lines on the TDI, i pay no attention to them whatsoever. It must have just come with the TDI i downloaded. to decided my trades I look at

First Place : Price Action
Second : Yellow MA
Third : TDI

Then of course support and ressistance, Trend Line,Daily Trend and Pivots. Ill tell you, thats all you need to look at, on avarage I take 6 trades per week, with around 5 winners. Now just trying to apply the same to the 1hr timeframe but not having as much success. But I too am pretty new to this strategy. Only a month in.
  • #14,728
  • Mar 18, 2012 8:40pm Mar 18, 2012 8:40pm
Hey 20GP,

On the post above you mention that you use pivots. I use everything else that you use except those, do you feel they're worthwhile? Like to keep you in or out of certain trades and whatnot... Thanks
  • #14,729
  • Mar 18, 2012 10:59pm Mar 18, 2012 10:59pm
I just noticed your thread and liked it right away when I saw you post that you live in my time zone and you have your alarm set for 1:50am and 5:50am because this is exactly how I live my life. I trade only price action myself since I do not see any use for indicators of any kind except ATRs on daily and weekly. I use trend lines and identify support and resistance on weekly and monthly which I mark on my daily chart in different colors to give me targets and stops. As far as my MM I trade 1% of my account which I calculate on a forex calculator and because I plan my trades with daily targets I usually get either more than 2% or BE. I just laughed when I saw that you also get up 10 min before 2am and 10min before 6am since I also only enter my traded at new candles. I also execute touch of support and resistance trades when price action dictates it. Just wanted to say HI. HI
  • #14,730
  • Mar 19, 2012 3:32am Mar 19, 2012 3:32am
Quoting thrasher88
Hey 20GP,

On the post above you mention that you use pivots. I use everything else that you use except those, do you feel they're worthwhile? Like to keep you in or out of certain trades and whatnot... Thanks
yeh, i use the daily pivot and weekly pivot but as secondry use only. Not really a primary factor.

Short now on EUR/JPY not really happy with the entry but lets see how it goes.
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy.PNG Size: 61 KB
  • #14,731
  • Mar 19, 2012 3:57am Mar 19, 2012 3:57am
Hello everyone ... the sma on the graph what number?? It is a simple or exponential?
thanks
  • #14,732
  • Mar 19, 2012 4:04am Mar 19, 2012 4:04am
Just took a short on Cable at the new hour. I know the candles are small, but the TDI gave a good cross and it has bounced from a similar price before.

Anyone else in?
In boxing, all the champion's results are visible. In forex, talk is cheap.
  • #14,733
  • Mar 19, 2012 4:33am Mar 19, 2012 4:33am
Took entry on cross of H1. Like I said; small candles, but has bounced down from a similar region before. Currently about 9 pips in the red. Not looking like a great trade, but I'm still in.

Excuse the other stuff on the charts. I'm just testing some other things and forgot to take them off.

P.S Scalped a quick 15 pips of the E/U at the London open.
Attached Image (click to enlarge)
Click to Enlarge Name: cable.gif Size: 22 KB
In boxing, all the champion's results are visible. In forex, talk is cheap.
  • #14,734
  • Mar 19, 2012 5:00am Mar 19, 2012 5:00am
Hi,

Just picked up on this thread this morning (Australian Time) as I was looking for a simple trading system.

Thankyou very much for all the people on this thread that are assisting with everything, great job..

Well I am setup with a fxpro demo with the indicators set and will start testing to see how it is suited to me. I plan to trade the AUDUSD 4hr and can see a sell trade about to be hit on the AUDUSD 4 hour chart. (unless of course it is a bounce.)

Looking forward to jumping into this first trade and seeing how it ends, thinking of a S/L of 30 pips..

Will let you guys know how it goes down..

Bruski.
  • #14,735
  • Mar 19, 2012 5:04am Mar 19, 2012 5:04am
Just gone long on E/U on H1 cross. Bandwidth indicator not great, but coming of somewhat of a support area.

Closed at a loss of 5 pip on Cable just before it arrived at a break even. Oh well.
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp.gif Size: 24 KB
In boxing, all the champion's results are visible. In forex, talk is cheap.
  • #14,736
  • Mar 19, 2012 5:41am Mar 19, 2012 5:41am
Quoting Erebus
Anu, a suggestion to you & all newbies struggling to learn this method -

Do not be mislead by the word SIMPLE in the title, it is not that, it is discretionary method, that means it is NOT rule based, everyone needs to make decision based on their experience, which you don't have, that is why there are 20 million questions about this & that, endless pages of SIMPLE trading, why are they not reporting thousands of dollars profit instead?

Think about it!

Go and read this thread just started, not by me, it really is very...
Thank you Erebus.
I just downloaded the pdf manual and going through it now. Appreciate your comments and help.
  • #14,737
  • Mar 19, 2012 5:43am Mar 19, 2012 5:43am
Quoting only20gp
yeh, i use the daily pivot and weekly pivot but as secondry use only. Not really a primary factor.

Short now on EUR/JPY not really happy with the entry but lets see how it goes.
Yeah, two hours later with no movement on the PA. What happen to yen?
  • #14,738
  • Mar 19, 2012 5:51am Mar 19, 2012 5:51am
4hour short on E/J


Attached Image (click to enlarge)
Click to Enlarge Name: ej 4hour short.jpg Size: 92 KB
  • #14,739
  • Mar 19, 2012 6:05am Mar 19, 2012 6:05am
Closed a 6 pip loss on E/G as the TDI hooked back over... Looking good today.

Just taken this short on the H4 AUD/USD. Let's see where this one goes.

Any comments on my other trades today?
Attached Image (click to enlarge)
Click to Enlarge Name: aud.gif Size: 27 KB
In boxing, all the champion's results are visible. In forex, talk is cheap.
  • #14,740
  • Mar 19, 2012 6:24am Mar 19, 2012 6:24am
Hey By_tor,

Just entered the same trade but exited with +45 points. Looks to be turning back long, was flirting with my S/L for a while so was happy to take the profit.

(Demo at this stage..)

Bruski.
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