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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

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Trading Made Simple

  • #15,121
  • Edited 6:45am Jun 26, 2012 5:44am | Edited 6:45am
Quoting binnie
Cheers FXSwiss , I will put the yellow median line back on the TDI. I am grateful for your help.
Binnie
Cheers mate. Change your last setting from 1080 to 1440.
  • #15,122
  • Jun 26, 2012 2:00pm Jun 26, 2012 2:00pm
Quoting binnie
Hi Britpip - thanks for your template. I have tracked back to find the PDF & description from dcginc. On loading the link from your post, I see that the value of the ATR on my charts is shown as 300% of ATR 20 . This differs from dcginc which is based on x times ATR 7. Is this a personal thing or have I missed something ? Looks a neat method of determining risk and possible targets.
Binnie
That is the default setting

Mine is ATR 7 periods with a multiplier of 1.0
"To live with Passion, it takes Courage and Grace to survive"
  • #15,123
  • Jun 26, 2012 8:10pm Jun 26, 2012 8:10pm
Just wanted to let everyone know that I've just started trading this method and running on Demo for now. Since yesterday at this time I'm up 1141 points, I guess thats 114 pips. I was trading on 1 full contracts on 4H and my balance is up $1141. That was nice to wake up to this morning. I'm waiting for the markets to clean up and jumping back in.
This is a AWESOME, SIMPLE SYSTEM, going to be looking for a wheel barrow.
Thanks Big E
  • #15,124
  • Jun 26, 2012 8:53pm Jun 26, 2012 8:53pm
Quoting thecoolyman
Just wanted to let everyone know that I've just started trading this method and running on Demo for now. Since yesterday at this time I'm up 1141 points, I guess thats 114 pips. I was trading on 1 full contracts on 4H and my balance is up $1141. That was nice to wake up to this morning. I'm waiting for the markets to clean up and jumping back in.
This is a AWESOME, SIMPLE SYSTEM, going to be looking for a wheel barrow.
Thanks Big E
Well done Cooly. Are you able to post a chart show us your setup & entry?
Binnie
  • #15,125
  • Jun 26, 2012 9:42pm Jun 26, 2012 9:42pm
Quoting FXSwissTrader
Cheers mate. Change your last setting from 1080 to 1440.
I have done this now FXSwiss - What about the settings if I am looking for a setup on say the 60min or 4hr charts. ? Do we adjust the indi settings on each one we watch. For Example - if using the 4hr chart for signals, is the setting changed to 1day / 1week / 1month to show the longer TF directions or is your intention to only use the 30min chart for signals.? I think I have made my question sound confusing but I think you know what I mean (lol)
  • #15,126
  • Jun 27, 2012 12:27am Jun 27, 2012 12:27am
Quoting binnie
Well done Cooly. Are you able to post a chart show us your setup & entry?
Binnie
Thank You, Sorry I don't know how to add pics yet, I'm new here. I'll have to work it, might take me a few days. I can tell you that I simply followed the rules,
1 - green crossed the red
2 - candle closed on other side of MA
3 - Stoch was used to confirm
I use this to say yes 3 times, then pull the trigger to trade

My trades were for 1 full contract each. They were for $541, $245, $335.66, $20.14, and even a $3. my total was actually $1144.80.
This is a K.I.S.S to my account (Keep It Simple Silly) LOL
I'm keeping it the way it was meant to be done
  • #15,127
  • Jun 27, 2012 12:43am Jun 27, 2012 12:43am
Anyone interested in a possible good trade set up, just have to wait till the bar closes on other side of MA. Look at the CAD/CHF 4H chart, TMI and Stoch are all set to go, I'm going to bed so good luck, If I wake up I'll take a peak so I can try to get in the trade too.
  • #15,128
  • Edited 6:59am Jun 27, 2012 3:49am | Edited 6:59am
Quoting binnie
I have done this now FXSwiss - What about the settings if I am looking for a setup on say the 60min or 4hr charts. ? Do we adjust the indi settings on each one we watch. For Example - if using the 4hr chart for signals, is the setting changed to 1day / 1week / 1month to show the longer TF directions or is your intention to only use the 30min chart for signals.? I think I have made my question sound confusing but I think you know what I mean (lol)
If you're trading off the hourly, IMO, there's no reason to go off the weekly, but if you want, change settings to 240, 1440, 10080.
  • #15,129
  • Edited 9:23am Jun 28, 2012 8:03am | Edited 9:23am
Hey everybody, I've been demo'ing this system over the past week and a half. It's been quite successful, except for today. I set up 3 very nice-looking trades before I went to sleep last nite based on the "look and hook" of the TDI (EUR.USD, USD.CHF, AUD.NZD) and all 3 went south in a big way. I had a 30 pip stop loss and 2 of them were hit, with my 3rd trade ending up -6 pips, so total of -66 pips in demo acct.

I'm wondering if anybody else placed similar trades, and/or if you take a look at the charts, can you see anything faulty in the setup? The trade occurred "2 candles ago". Thanks to all.

Edit: actually I meant 3 candles ago. In other words, I was short AUD.NZD, long EUR.USD, and short USD.CHF, none of which worked according to plan.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: aud.nzd.gif Size: 18 KB
Click to Enlarge Name: eur.usd.gif Size: 22 KB
Click to Enlarge Name: usd.chf.gif Size: 20 KB
  • #15,130
  • Jun 28, 2012 9:31am Jun 28, 2012 9:31am
Quoting w00dmann
Hey everybody, I've been demo'ing this system over the past week and a half. It's been quite successful, except for today. I set up 3 very nice-looking trades before I went to sleep last nite based on the "look and hook" of the TDI (EUR.USD, USD.CHF, AUD.NZD) and all 3 went south in a big way. I had a 30 pip stop loss and 2 of them were hit, with my 3rd trade ending up -6 pips, so total of -66 pips in demo acct.

I'm wondering if anybody else placed similar trades, and/or if you take a look at the charts, can you see anything faulty in the setup?...

You can't be that mechanical in your trading. There are alot of fundamentals effecting today's movement. EU summit is one of them.
  • #15,131
  • Jun 29, 2012 12:06am Jun 29, 2012 12:06am
Wow, didn't know what was going on but I had a few trades that were going nice an slow and I sat down to watch a movie and take a break away from the charts, been on them all day. No good set ups so I was looking around using cross MA PA, guess I was chasing the pips. Then i came back over and all the trades I had were going crazy. I was trying to get things under control cuz I was about 450 pips in the negitive. So I started grabbing charts and try to do something to control that mess. Well through today along with all that mess I managed to pull 173 pips out of it all. Still got a few trades running that I'm waiting for them to come back down some or I'll have to cut them off for a bit of a loss. Well a lesson learned today.
Still I'm thanking God for bringing me here to learn.
  • #15,132
  • Jun 29, 2012 12:10am Jun 29, 2012 12:10am
Quoting thecoolyman
Wow, didn't know what was going on but I had a few trades that were going nice an slow and I sat down to watch a movie and take a break away from the charts, been on them all day. No good set ups so I was looking around using cross MA PA, guess I was chasing the pips. Then i came back over and all the trades I had were going crazy. I was trying to get things under control cuz I was about 450 pips in the negitive. So I started grabbing charts and try to do something to control that mess. Well through today along with all that mess I managed to pull...
By the sound of it you are taking too many trades at the same time, just my thoughts. Also the EU summit causing some volatility shouldn't have been a surprise.
  • #15,133
  • Jun 29, 2012 3:26am Jun 29, 2012 3:26am
I'm a new member here, I got intrigued by Forex trading about a month ago and since then, I've been reading everything I could about it. Pretty soon into my reading I learned that it's good to have a good trading strategy which you're comfortable with and can stick to. So I started searching for one and somehow I found this topic here and seeing it's over a 1000 pages long I thought whoa, this should be a very thoroughly researched and discussed system. I also liked its simplicity and the many positive results posted here. I started demoing the system about a month ago and I'm happy to report that on my demo account I managed to make $100 profit during this month (I'm trading on demo strictly like I'm planning to trade on live, so I'm "simulating" that I have only $500 on my account (that's how much money I plan first on burning on Forex). So I can say the results are pretty impressive and they reflect the awesomeness of this system. I'm planning on opening my live account within a month from now, and I thought I'd like to give something back to the community here, by documenting my adventures using this system and hopefully learn by my mistakes.

I'm using the system as is, in its original form, so that means I only use the template and indicators as referred by Numb3rs in post #713 on page 48 -> direct link to Numb3rs' post with the indicators and template.
I just installed these indicators and fired up the template I haven't tampered with them at all (yeah, I kind of like going exactly by the book)
I trade only the 4H charts exactly like eelfranz described in his first post (that is, I look for trading opportunities at exactly the opening of the new 4H candle at 10pm Pacific time). My demo account is at Alpari UK, using the Metatrader 4 trading platform. Alpari UK opens candles at exactly the times given by eelfranz. Since I live in Hungary this is actually more than perfect for me, since that means the candle opens at 07:00 am my time, so I can comfortably set my trades up before I go to work and I can monitor my trades whenever I like from my work computer (I seriously hope that by the time I get caught and fired for trading Forex instead of doing my job, I'll have enough money from trading to just laugh at my bosses )

Anyway without making this post longer, here are the trades I took this morning (ummm, my morning, your late evening...) hmmmm, seems like I'm limited to 5 images, so for the images of the last three trades, click on the links if you're interested.

AUD/USD buy 0.02 lots @ 1.01493 S/L 1.01000
http://www.rpotor.com/forex/TMS/2012-06-29-04.jpg

USD/CAD sell 0.02 lots @ 1.02708 S/L 1.03200
http://www.rpotor.com/forex/TMS/2012-06-29-06.jpg

EUR/USD buy 0.02 lots @ 1.25760 S/L 1.25260
http://www.rpotor.com/forex/TMS/2012-06-29-01.jpg

GBP/USD buy 0.02 lots @ 1.56067 S/L 1.55660
Trade setup image

EUR/JPY buy 0.02 lots @ 99.712 S/L 99.210
Trade setup image

GBP/JPY buy 0.02 lots @ 123.809 S/L 123.300
Trade setup image

(I always trade 0,02 lots and set my stop loss for each trade at 50 pips, so at most I only lose about $10 on any trade which is 2% of my simulated $500 account (all the books I've read so far say that you should only risk 1-2% of your trading capital on any one trade, so I'm sticking to this "rule"). Today for the GBP/USD trade I set my stop loss at 40 pips, because 5606 - 50 equals 5566, right? ... ooookay my excuse is that it was 7:00 in the morning!

Actually when I got into my office this morning at about 08:30, I saw that all of my trades were showing profit (on the 6 trades all in all, I was up about $41), so I decided that this is a very nice profit for me and closed all trades and ran with the money. In 5 hours I'll update this post and see whether this was a smart decision or if I could got filthy rich if I waited till the candle opening at 6am (Pacific Time).
  • #15,134
  • Jul 2, 2012 1:23pm Jul 2, 2012 1:23pm
Quoting Hugh Briss
By the sound of it you are taking too many trades at the same time, just my thoughts. Also the EU summit causing some volatility shouldn't have been a surprise.
Well you were right in a way cuz I did have several orders running. My main issue was I didn't place SL on them, my bad. When I'm monitoring them I stopped using SL's cuz they were getting hit everytime I placed a SL. I think I was being hunted, What else could it have been? I placed my SL then the market would go right to my SL and then go the opposite direction, happened many times. So I changed brokers.

Today so far I'm up over 230 pips and a lot of the day to trade yet. Using those SL's and making small moves.

Happy Pips to Everyone
  • #15,135
  • Jul 2, 2012 1:57pm Jul 2, 2012 1:57pm
Quoting thecoolyman
I think I was being hunted, What else could it have been? I placed my SL then the market would go right to my SL and then go the opposite direction, happened many times. So I changed brokers.
So your previous brokers were manipulating a trillion dollar a day market just to hit your tiny, insignificant stop loss?!?!?!?!

I think you need to have a good think about what you are doing and whether forex is for you.
  • #15,136
  • Jul 6, 2012 3:48am Jul 6, 2012 3:48am
Hello!

I'm looking for good entry with this trading system but ...no interesting entry.

Have you some advice, for example: best markets and its times/TF?

Is this always a good system for trading?

Thanks!

  • #15,137
  • Jul 6, 2012 4:08am Jul 6, 2012 4:08am
Quoting smarco
Hello!

I'm looking for good entry with this trading system but ...no interesting entry.

Have you some advice, for example: best markets and its times/TF?

Is this always a good system for trading?

Thanks!

Was wondering if you even took the time to read the very first post, or at least went through much of the thread to get your answers? Have you even demo'd the system? Maybe you're new to forex looking for the holy grail and just want to be spoon fed, at least then I can understand your motivation level. Do some homework bro.
  • #15,138
  • Jul 6, 2012 5:24am Jul 6, 2012 5:24am
Quoting FXSwissTrader
Was wondering if you even took the time to read the very first post, or at least went through much of the thread to get your answers? Have you even demo'd the system? Maybe you're new to forex looking for the holy grail and just want to be spoon fed, at least then I can understand your motivation level. Do some homework bro.
Hi FXSwissTrader,
I have read all post of this thread (almost all).
I've a demo account for test it and in two weeks I've found few occasion to enter.

This system has several years (from first post) and I do not know possible variations of its functionality.

But if you have any indication or council further is well accepted.

Thanks again!




  • #15,139
  • Jul 6, 2012 8:58am Jul 6, 2012 8:58am
Quoting smarco
Hi FXSwissTrader,
I have read all post of this thread (almost all).
I've a demo account for test it and in two weeks I've found few occasion to enter.

This system has several years (from first post) and I do not know possible variations of its functionality.

But if you have any indication or council further is well accepted.

Thanks again!




The system hasn't changed much at all since Big E's initial post. If you've read through the thread, there are plenty of excellent examples of entry/exit rules. I personally only use the TDI and will trade only in the direction of higher trends. I no longer use stochs. That's just my preference. You will have to find yours. Hope that helps.

Cheers
  • #15,140
  • Jul 6, 2012 10:10am Jul 6, 2012 10:10am
Quoting Hugh Briss
So your previous brokers were manipulating a trillion dollar a day market just to hit your tiny, insignificant stop loss?!?!?!?!

I think you need to have a good think about what you are doing and whether forex is for you.

Thanks for that very sound advice (NOT). Trust me I've thought about it more than I've wanted to but thats how I felt, and it hasn't happen since I changed brokers. I made my last comment to say how happy I was to walk away that day with a 9 pip profit and as to help others to tell them to not give up. I've been trading for a few yrs now and still make my mistakes but to have some smart a** remark like yours, you can keep your 2 cents for your next trade.
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