Trading Made Simple

[quote=vtayha;5635896] Yes I have a list of the pairs with the best spread, (aprox. 20)...did that mostly on H, some on 4 H.Most of them starting at the London session...I live in Germany...Basically took every valid signal...it was a test after all..I really didn´t expect it to be that bad...read the whole rules, including the Malone PDF, it´s really simple...but not very promissing..Elfranz goes in earlier, Malone later ,liked the simplicity...maybe it´s better on Day or Weekly charts...I´m too old for those, can´t wait 20 years to make some money in Forex.
Anyway, I´m glad if it works for others, really, and I´m sure the people who design it are honest...just not my kind of spagetti..

Let me try clear up a few issues regarding this forum and the strategy shared within. Firstly there is alot of posts, i have been involved for over a year, at first it wasnt working for me, i went into trades too often not aware of support and resistance, that stuff went over my head.

But its crucial you do not go in a trade everytime the green (rsi) crosses the red (trade signal line) back test and you will see clearly it does not work... you need to add something to the recipe. I went away and only now have something to contribute. Firstly let me add amoung the hundreds on posts are explanations of what not to do and what to do, i know you cant read the first few pages and have it all done and dusted, that was where the wheels came off for me. You had to be part of the growth of the thread, coming in now is only going to allow you to pick up bits and pieces.

I cant say how the support resistance works but i do feel the trend is important. Using Daniel as an example ( i will get to his money management in a moment, tisk!) He used the daily for an entry, solely because the green crossed the red and a bar closed over the 5sma, also the rsi is coming from a overbought area well above the 50.0
Fair enough, but i do not recall Big E saying anything about daily time frame. He used H1 when the market was rampant and H4 when it was quiet. That didnt make sense to me and i lost interest soon after. Tdi however has been on my charts for over a year, i use it and try to make it work with other indys.

My suggestion is use the daily to find the trend. I do this by adding the Heiken Ashi smoothed (i have attached the indy)
Daily chart HA smoothed is in a down trend, ie colour just changed to down trend colour what ever your setting is. Now go to H4 and wait for rsi (green line) to cross above red and a bar to close above 5sma, then await a new setup.

When the rsi crosses clearly below the red and yellow with the close of a bar i go short. I only re-enter a new trade once the process is repeated. By that i mean the green goes clearly back above the red (not especially the yellow) and a bar closes above the 5sma (that to me is the pull back and a reset) then still watching to be sure daily is in a down trend, i wait for the H4 to setup again by closing below 5sma and green crossing clearly below red and yellow.
This system is simple as you can see. I do not leave the trades to run for hundreds as i read the earlier traders did, instead i bag 20, lower tier pairs 15 (eurgbp, cadjpy to name a few).

This is how i trade the TDI, not saying it is genius but it works for me. Always remember all indicators work, just get the environment correct.

Lower time frames I am not certain yet, all i can say is aim for far fewer pips, like less than 10. I know slim but atleast you can use more pairs as everyone is so keen to do it seems. That way if daily is synced with H4 then perhaps 1hr should be synced with H1, that way you get more trades and golden oldie over here can reach his pot of gold he so yearns for.

Please add any suggestions to my strategy once you have tested and or used it. Cheers!

Attached are two versions of HA smooothed, 2 pip indicators showing you your win/loss in pips, and 2 TDI indys, and an indicator showing pivots which you can adjust. I am not sure which is best so i added both versions (ex and mq4)

Mr Daniel, sorry for using you as an example however you did mention you were fairly new.
Money management is what will allow you to stay in this game. A strategy of course is second and then personal conditions, like your lifestyle.. personality.. emotions they all play a part in how you perform as a trader. Read Jack larken' page on trading ethos.

So money management, everyone says risk 1% (later you will find you can bend this rule)
Using a $1000.00 acc that would be $10 one the table to risk on a trade
0.01 lot would be the correct trade size, so if you lost 100 pips you would lose $10 of course depending on pair and costs of trade. If you wanted to risk 50 pips, then the trade size would be 0.02
Now if you go in 10 trades at the same time you would be risking 10% right.

So by Daniels standard, he went in with 0.1 and lost nearly $70 so he is almost risking 10% on a single trade, if he had 10 losses there goes the account..

Attached is a simple variation of a money management document. I trust you can use excel then fly with it. Any queries ill get back to you asap.
Some tips dont delete columns as they are linked by functions. Change the risk in the column which has a header of 'AR' to =k2*0.02 for 2 % risk for example.
Changing Risk of pips also changes the trade size. Too many traders start with small capital and want to get too far too soon. Either get more capital or make like a tortoise to the finish line. And a plan B would have some radical strategy which makes a very high win ratio.
Bon weekend~!

Please add any suggestions to my strategy once you have tested and or used it. Cheers!

OK thanks for the long, clear explanation...you obviously put an effort for the good of others..

I will give it a try...it´s quite a lot of filtering from the original...but it makes sense...now were talking entering on a correction of a "posible" trend, in the direction of the trend...and using tdi as a triguer...

Correctamondo, and yeah as to all what you said about trend, yeah its the trigger i guess.

Short EURUSD, EURJPY, Long USDCHF as you would expect CHFJPY also GBPJPY short with recent close of H4 bar, see daily is short, and they reset. Ill see for others and post trades from now on..

Big news coming soon so this is a bit risky, a few potentials with next H4 close: EURGBP short, CadCHF long,

New trade 4 May 2012 app 12.00 ukgmt

James,

Very Good input from you, if you do not mind put up some charts of the trade you have taken or charts to clarify you point as it becomes even clearer when you show us charts like elfreenz used to.

I see you know how to post charts so will like to ask you. Since you have done the work and perfected this systerm for yourself, how many Pips on average does this give you a week or daily but it can vary on a daily scale as the markets can be erratic.

Also, don't you think starting a new thread for your systerm will more good to people then hanging on from an over 1000 page thread. Many will miss it because of how long this thread is. So a new thread will be best in my two pips worth of sence.

Just a thought.

Thanks Sharemaster.. i will do
That was my first screenshot post. Ill keep em coming and explain the correlation with the daily HA

yamesp, kindly laid out a template of your system

I assumed you wanted the nuts and bolts to the strategy i was describing.. well here you go... see attached
Testing looks good, lets see what you good people think and how the coming weeks pan out

See post 15025 for indicators for MT4

Also, don't you think starting a new thread for your system will more good to people then hanging on from an over 1000 page thread. Many will miss it because of how long this thread is. So a new thread will be best in my two pips worth of sence.

Just a thought.[/quote]

I dont know how to start a thread?? i looked a few times in the past and gave up.. could you assist thanks

CADCHF example
See daily image, the thin bright green bars are HA smoothed and that indicates up trend (if it were to go salmon colour that would be a change to down trend.. trading made simple)
See H4 image, the pull back occured, now after a change in HA colour, rsi went below red and bars closed below 5sma

Now awaiting this bar to close above 5sma, green tdi to move above red and yellow
fyi: 5sma is the thicker yellow line

I dont know how to start a thread?? i looked a few times in the past and gave up.. could you assist thanks[/quote]


Hi there,

Just go to Trading Systerms in the Forum Home Page and on the Top Left, it says "Post a New Thread" enter the name for your thread ie the Topic like Trading Made Simple or Any name and that is it. Check this link also http://www.forexfactory.com/newthrea...newthread&f=71

My two Pips worth to your future Thread!

http://www.forexfactory.com/showthread.php?t=360049

JamesP

Found so many posts here! Host, have you earned nice bucks by using yr strategy? Does your strategy cover trend ranging & trending together? I'm looking for a strategy which could cover both trend behaviour.

Hi THERE,
i downloaded the indicators. where about i put them in the meta4 platform so i can use them?

regards

robert

[quote=JamesP;5637346]I assumed you wanted the nuts and bolts to the strategy i was describing.. well here you go... see attached
Testing looks good, lets see what you good people think and how the coming weeks pan out

Hi James, could you elaborate a little on your testing?..the aproach does make sense...my biggest worry these days is stop hunting, are we all waisting our time while "sweet broker man" parties with our money, one way or the other?

It depends where you downloaded your mt4 platform to but usually you want to go to your C: drive, look under program files, find your brokers folder, in there there is a folder called experts and in that there is a folder called indicators. Put all the stuff in there, restart mt4 and the indicators will be available under custom indicators.

I'm glad to help but fella, you have a long, long, long way to go! Good luck.

hi robert,

for starters, you should goto this post lnk below:

http://www.forexfactory.com/showthre...60#post5547160

and watch that video on how to install MT4 indicators.

regards,

Hi guys - my 1st post this thread. Have reached page 80 so huge way still to go. Without the benefit of knowing what the rest of the thread includes, is the original setup still being followed. I can see many positives with it but it would be a pity and a huge waste of my time continuing with the reading if the system has been altered etc. Any comments ??
Regards from NZ
Binnie