Trading Made Simple | Page 740 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

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

Attachments: Trading Made Simple
Exit Attachments

Trading Made Simple

  • #14,781
  • Mar 20, 2012 4:53pm Mar 20, 2012 4:53pm
Quoting thrasher88
So I haven't been having much luck with the 4hr at all... I think I'm too new a trader to have learned the discipline required... eg., always wanting to get out of trades before they get too close to s/l and getting out before my planned t/p etc.

So I went back to trading 1hr and its been good, I made back all my semi-minor losses from the 4hr. However... We need some liquidity in this market!... Do you guys all use the market tab just above this screen here on FF? It's GREAT, it shows where liquidity is as compared to a 30 day liquidity avg that...
Hi Thrasher,

What trades have you been taking on the H1 charts? I'd be very interested to see, as the H1 charts have been a pain so far this week. I can't agree enough about liquidity!
In boxing, all the champion's results are visible. In forex, talk is cheap.
  • #14,782
  • Mar 20, 2012 5:53pm Mar 20, 2012 5:53pm
Quoting By_Tor2114
Hi Thrasher,

What trades have you been taking on the H1 charts? I'd be very interested to see, as the H1 charts have been a pain so far this week. I can't agree enough about liquidity!
I tried to get you a detailed report but they all came out looking like garbage... Basically I took trades on EUR/USD and USD/CAD both @7:56 and got both out @ 8:25 then USD/JPY and EUR/USD again both @ 9:49 til 10:15... then since i'm a noob i tried a couple trades without any liquidity/volatility in the market and took some pretty small losses but all in all ended up a lot better. Couldn't really find any other good opportunities since then...

Hopefully tomorrow is more lucrative for us all lol... On a side note I've been waking up @ 3:45AM to look for 4h trades for the past 2 weeks but I'm beginning to feel ill... does anyone else wakeup that early then go back to bed ? Just hoping its not the reason since although I haven't found much opportunity I know thats where opportunity usually arises, looking back on old charts... Thanks !
  • #14,783
  • Mar 20, 2012 6:00pm Mar 20, 2012 6:00pm
Quoting thrasher88
I tried to get you a detailed report but they all came out looking like garbage... Basically I took trades on EUR/USD and USD/CAD both @7:56 and got both out @ 8:25 then USD/JPY and EUR/USD again both @ 9:49 til 10:15... then since i'm a noob i tried a couple trades without any liquidity/volatility in the market and took some pretty small losses but all in all ended up a lot better. Couldn't really find any other good opportunities since then...

Hopefully tomorrow is more lucrative for us all lol... On a side note I've been waking up @ 3:45AM to...
What time zone are you in? I wouldn't mind checking out how it looked.
In boxing, all the champion's results are visible. In forex, talk is cheap.
  • #14,784
  • Mar 20, 2012 6:58pm Mar 20, 2012 6:58pm
Quoting By_Tor2114
What time zone are you in? I wouldn't mind checking out how it looked.
EST Timezone... GMT-5
  • #14,785
  • Mar 20, 2012 7:02pm Mar 20, 2012 7:02pm
[quote=thrasher88;5495392]I've been waking up @ 3:45AM to look for 4h trades for the past 2 weeks but I'm beginning to feel ill... does anyone else wakeup that early then go back to bed ?quote]

Haven't tried exactly that, but have tried to trade London from the central time zone & made myself sick. Need to live on day shift, which means the new york session. I've read people here are good at keeping odd hours & getting up just long enough to look at the charts & go back to sleep, but I can't do it. You may want to do a little experimenting to see what works for you. If you're feeling ill since trying the new schedule, go back to a normal schedule for a while, & if you feel better, stay on it.
My favorite crochet hook is size J. It's a J-Hook!
  • #14,786
  • Mar 20, 2012 7:14pm Mar 20, 2012 7:14pm
[quote=littlebunny;5495493]
Quoting thrasher88
I've been waking up @ 3:45AM to look for 4h trades for the past 2 weeks but I'm beginning to feel ill... does anyone else wakeup that early then go back to bed ?quote]

Haven't tried exactly that, but have tried to trade London from the central time zone & made myself sick. Need to live on day shift, which means the new york session. I've read people here are good at keeping odd hours & getting up just long enough to look at the charts & go back to sleep, but I can't do it. You may want to do a little experimenting to...
Yah I think your right... I started trading to free myself from crappy working conditions I guess I'm not doing myself justice... plus my normal time to wakeup is NY Session, thanks for the advice!
  • #14,787
  • Mar 20, 2012 8:06pm Mar 20, 2012 8:06pm
Quoting thrasher88
... On a side note I've been waking up @ 3:45AM to look for 4h trades for the past 2 weeks but I'm beginning to feel ill... does anyone else wakeup that early then go back to bed ?... Thanks !
I beg you do not do that. Your health is your wealth as the saying goes. eelfranz was doing that and he had to be hospitalized couple of times last year. There has been no sign of him for the last few months and I am sure other traders are just as concerned for him as I am. We all PRAY that he is OK. It is a shame if such a generous kind person was not with us anymore, BIGE if you are reading this please just drop a line and let us know you are OK.

getting back to my main point, you must have at least 5 to 6 hours of uninterrupted sleep in 24 hours, otherwise you will suffer later on in life.

ALL THE BEST MY FRIENDS

P.S. You can go to bed around 22:00 and wake up around 03:30, that is 5.5 hours and you can nap for couple of hours afterwards.
  • #14,788
  • Mar 20, 2012 8:32pm Mar 20, 2012 8:32pm
Quoting Tom Joad
Hello everyone ... the sma on the graph what number?? It is a simple or exponential?
thanks

If it's an Sma, it's Simple surely? Read the thread!!
All you touch and all you see, is all your life will ever be.
  • #14,789
  • Mar 21, 2012 12:42am Mar 21, 2012 12:42am
Quoting Loftboy
If it's an Sma, it's Simple surely? Read the thread!!
EMA period 4 shift 2
  • #14,790
  • Mar 21, 2012 3:53am Mar 21, 2012 3:53am
Took a trade this morning LONG on AUS/USD this morning (GMT) using this method, anybody else take that trade?

Currently +10 pips ... wahhey!
  • #14,791
  • Mar 21, 2012 3:54am Mar 21, 2012 3:54am
Quoting thrasher88
I tried to get you a detailed report but they all came out looking like garbage... Basically I took trades on EUR/USD and USD/CAD both @7:56 and got both out @ 8:25 then USD/JPY and EUR/USD again both @ 9:49 til 10:15... then since i'm a noob i tried a couple trades without any liquidity/volatility in the market and took some pretty small losses but all in all ended up a lot better. Couldn't really find any other good opportunities since then...

Hopefully tomorrow is more lucrative for us all lol... On a side note I've been waking up @ 3:45AM to...
Hi Thrasher,

Any reason you were taking those trades before the new candles had opened? Always curious to see how other people tick.
In boxing, all the champion's results are visible. In forex, talk is cheap.
  • #14,792
  • Mar 21, 2012 4:13am Mar 21, 2012 4:13am
Quoting MrBurns
Took a trade this morning LONG on AUS/USD this morning (GMT) using this method, anybody else take that trade?

Currently +10 pips ... wahhey!
Got a chart?
In boxing, all the champion's results are visible. In forex, talk is cheap.
  • #14,793
  • Mar 21, 2012 4:17am Mar 21, 2012 4:17am
Quoting By_Tor2114
Got a chart?
Not at the mo, im in work. Im trading off FXtrade but chart using MT4 (both Oanda)

I will post one a bit later on if you dont mind buddy. Must admit its in the red now lol
  • #14,794
  • Mar 21, 2012 4:28am Mar 21, 2012 4:28am
Quoting MrBurns
Not at the mo, im in work. Im trading off FXtrade but chart using MT4 (both Oanda)

I will post one a bit later on if you dont mind buddy. Must admit its in the red now lol
That would be great. I'm thinking seeing each others charts is a great way to get better on this style of trading. Currently long on the trade below. I know resistance is near, hence the tight stop and close monitoring... Actually, I just closed it for a rather dull 3 pips. It seemed to be stalling in the last high and it was never gonna be more than a scalp. Should have been watching when it was about 10 pips!
Attached Image (click to enlarge)
Click to Enlarge Name: usd.gif Size: 23 KB
In boxing, all the champion's results are visible. In forex, talk is cheap.
  • #14,795
  • Mar 21, 2012 5:12am Mar 21, 2012 5:12am
Made a mental note to stay away from anything GBP due to this morning's news... A decision well made!

Did anyone manage to take some pips of that spike from the news?
In boxing, all the champion's results are visible. In forex, talk is cheap.
  • #14,796
  • Edited 6:24am Mar 21, 2012 6:13am | Edited 6:24am
Quoting By_Tor2114
Made a mental note to stay away from anything GBP due to this morning's news... A decision well made!

Did anyone manage to take some pips of that spike from the news?
HEy Tor... I took those trades a little early just because they were shooting off and i got excited... usually it works out especially if its like 4-5 mins before the next candle. Even though I know its not protocol.

Also, when you "save as picture" in MT4 if you click active chart (800x600) it'll be much easier to read your charts... I couldn't even read which pair you were on, on your last upload.

Finally, I agree that was definitely a good decision. Those pairs got a mind of their own that past hour. I think we should all watchout for that Bernanke Testifies event coming out because people seem to think he's a God. I saw Bernanke Testifies and I got excited thinking it was his court hearing or something LOL.

Here is my first trade of this morning, I doubt I'll be in it long enough to get to my T/p what with the bernanke news but hopefully I can get a few pips before he muddles with our trading. I know its coming into a previous consolidation zone but i'm hoping that was already reckoned with by the big up-spike from yesterday. Good luck to everyone.

I just bothered to click on your picture Tor, sorry its actually much better res than 800x600 LOL
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad 03.21.12.gif Size: 26 KB
  • #14,797
  • Mar 21, 2012 6:34am Mar 21, 2012 6:34am
Hey Thrasher,

I'll give that a go with the chart size. It seems to be ok when I'm clicking on the ones I posted, but I'll try the other way of doing it as well.
In boxing, all the champion's results are visible. In forex, talk is cheap.
  • #14,798
  • Mar 21, 2012 8:05am Mar 21, 2012 8:05am
A update on the audusd sell I took, still in profit with some locked in. I stand by what I said before on this pair and it shows once you can master price action with this method you will make pips.

joffie
Attached Image (click to enlarge)
Click to Enlarge Name: audusd.gif Size: 28 KB
  • #14,799
  • Mar 21, 2012 8:08am Mar 21, 2012 8:08am
Quoting joffie
A update on the audusd sell I took, still in profit with some locked in. I stand by what I said before on this pair and it shows once you can master price action with this method you will make pips.

joffie
Good job Joffie.. I saw that setup, should've taken it but I thought it was going to get messedup by that resistance. Joffie, I see your using regular candles on your chart, have you tried the APB synergy ones that come with this method's template? Or perhaps you prefer regular ones...
  • #14,800
  • Edited 8:27am Mar 21, 2012 8:17am | Edited 8:27am
Quoting thrasher88
Good job Joffie.. I saw that setup, should've taken it but I thought it was going to get messedup by that resistance. Joffie, I see your using regular candles on your chart, have you tried the APB synergy ones that come with this method's template? Or perhaps you prefer regular ones...
I did try the APB candles but as I have always traded with candlesticks I prefered using them instead, the entry I took even though it also showed with the simple 4hr method on here, do you see the large momentum bearish 4hr candle, then a small retrace candle, I got up to see this and being after a trend line break one bar test after break out, also testing the R1 level of this bearish candle. Now this has happened once again with the bounce, from testing once again the R1 of the 2nd bearish candle. Now I need to see a close below that pin candle to know price will continue lower.

Many traders just look as support and resistance as a number of times price failed to go higher or lower, but fail to see every candle also represents this same support and resistance. But you could not use all candles as this would be suicide. But when you have large candles compared to others around it these will act as support and resistance. Have a look over charts, see where we have these momentum candles how price reacts when it comes to middle or open of these candles.


Here is a gbpusd trade I have taken today, using these same principles along with this method. I have no idea if this will be a winner or loser, but if you can put as much into your favour as you can on every trade you take, gives you a better chance.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusd 4hr.gif Size: 31 KB
Click to Enlarge Name: gbpusd 1hr.gif Size: 27 KB
70 traders viewing now