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Trading Made Simple

  • #15,521
  • Jan 23, 2013 9:22am Jan 23, 2013 9:22am
Hi Everyone,

i have read this post from front to back, and have everything set, for my journey as a newby to trading,
but cant remember which 8 charts i should have loaded to watch for the signals,
i am in the uk and remember throughout the threads mention of the 8 charts but now without reading the whole thing again am stuck at this point.

does anyone know them from memory ??

regards

nelly
  • #15,522
  • Jan 23, 2013 10:14am Jan 23, 2013 10:14am
I don't remember either but click on the paper clip at the top or bottom of the page, then click "Hide Images" and you will find posts. I would try the 1st page (which is #7 I think) and go from there.
  • #15,523
  • Jan 23, 2013 7:33pm Jan 23, 2013 7:33pm
Hi Nellycopter
Previously I had copied some notes for myself from the early forum. Here it is but I don't have the post #...

I'd say pick the charts you like to trade and understand theirmovements... breathing patterns...

I always like to havethe E/U, G/U and A/U side by side on top plus one more chart. Those threecharts tend to move together in the same direction. So if I see a set up on oneI usually find a set up on one or both on the other pairs. I've made a lot ofpips trading all three at the same time.

I usually include 2-3Japaneese charts... a Usd/Cad chart. Always end up with 8 charts on one page.

Dean Malone trades these ontop...e/u, g/u e/j, a/u left to right and these below... left to right...u/chf, u/j, g/j , u/cad. Setting them up that way generally means the top chartis moving in one direction and the one directly below moves in the oppositedirection...

Keep in mind that if you use ...audusd, eurusd, gbpusd, nzdusd, usdcad, usdchf, usdjpy, then you have covered all the different majors. You can also add your favorite crosses if you wish.
best
Jim
  • #15,524
  • Jan 24, 2013 3:55am Jan 24, 2013 3:55am
i read most of this thread it is very interesting indeed.
i try this mathod live(micro account) for almost two weeks on the 1h graph.
is any one really make profit in the long run?
  • #15,525
  • Jan 24, 2013 12:33pm Jan 24, 2013 12:33pm
Thanks for the answer JIM,

I am now set and have been trading the 4 hr charts from yesterday and I'm impressed with the results,
Is it beginners luck or is this system really this good ?

All the way through people say keep it simple, don't overload with I indicators, so I have, and it does seem to work very very well..

The only thing I could do with as a beginner, which I can't find, is some sort of tool for mt4 so I can click buy or sell, and enter sl tp in pips or £,
I have sl tp drag and drop which is ok for moving them on the chart, but getting my head round which way I'm going for sl is doing me in,
Then I'm trying to add pips, points 5digits, in my head to enter the right number in the standard mt4 order page,

Any ideas anyone please ?
  • #15,526
  • Jan 26, 2013 6:00pm Jan 26, 2013 6:00pm
Quoting Nellycopter
Thanks for the answer JIM,

I am now set and have been trading the 4 hr charts from yesterday and I'm impressed with the results,
Is it beginners luck or is this system really this good ?

All the way through people say keep it simple, don't overload with I indicators, so I have, and it does seem to work very very well..

The only thing I could do with as a beginner, which I can't find, is some sort of tool for mt4 so I can click buy or sell, and enter sl tp in pips or £,
I have sl tp drag and drop which is ok for moving them on the chart, but...
This one is very good:
http://www.forexfactory.com/showthread.php?t=371147
Trade Garlic
  • #15,527
  • Jan 30, 2013 4:03am Jan 30, 2013 4:03am


The key to this method is the Traders Dynamic Index indicator for entries and exits. I also use a Stochastics (8,3,3) indicator. It is ONLY used to confirm direction. Nothing else.

We only use Heiken Ashi candles... that's important.

We want you to be an active member asking questions, posting charts and making observations when possible.

Start trading a Demo account until you build your confidence and only then consider switching to a live account...

Disregard template posted below and see updates... Read the complete thread BEFORE ASKING QUESTIONS... YOU WON'T BE SORRY

See post #25 on page 2 for indicators...

Latest update: PAGE 11, Post # 156... thanks Cliff
Another update by Numb3rs - 4/29 - Pg 48, post 713
UPDATE: See post #25
See post 14 & 15 for TDI & HA (APB) candles.[/quote]

May his gentle generous soul rest in peace. My question goes to the masters in this system as you can see above there were a lot of updates and i im confused about which is more relevant and which is not. Pls can someone let me know and put me through on how to replace the japanese candles with the heiken ashi candles in and the general trade setup. Thanks
  • #15,528
  • Jan 30, 2013 9:28am Jan 30, 2013 9:28am
WNABO,

Please go to BRITPIP7's very informative post on page 625; Post#9,365.
  • #15,529
  • Jan 31, 2013 7:24am Jan 31, 2013 7:24am
Quoting Phx62
I don't check the H4 or Daily. All the information I need is found on the H1 chart to take a H1 trade. I can find recent trend, structure (S&R levels) and candle patterns on the H1 chart. That, along with the TDI & Stoch agreement is all the information I need to enter a trade.
No, I do not exit on the hook of the TDI unless it hooks at the beginning of a trade. If I enter and the TDI hooks or reverses immediately, I know I probably miscalculated the entry. Otherwise, I will keep the trade open until it hits the TP or SL. If I am unable to monitor...
hi Phx please help with the ea that breaks even after 20pps
Watch me trade Live on YouTube
  • #15,530
  • Feb 2, 2013 4:40am Feb 2, 2013 4:40am
Hi All

I used this indicator on Feb 1st on GBPUSD 4 H chart

I have attached the chart showing the entery point with following cnfirmation:

- TDI lines crossed
- Red candle appearence in the chart
- Ist candle closed below the 5 MA yellow line
- Entery on the 2nd candle after above confirmation

This is my first entery on this method.
NB. I did not use the trial stop 20 points on the real account. In demo account I used it and SL got hit.

I suggest we discuss the SL best place. it seems the trial stop get hit fast with this method.

Pls free free to post your ideas, suggestion and recommendations to improve our trading using this method.

Orbit
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdfeb1.gif Size: 19 KB
  • #15,531
  • Edited 6:33am Feb 2, 2013 6:23am | Edited 6:33am
Quoting Orbit
Hi All

I used this indicator on Feb 1st on GBPUSD 4 H chart

I have attached the chart showing the entery point with following cnfirmation:

- TDI lines crossed
- Red candle appearence in the chart
- Ist candle closed below the 5 MA yellow line
- Entery on the 2nd candle after above confirmation

This is my first entery on this method.
NB. I did not use the trial stop 20 points on the real account. In demo account I used it and SL got hit.

I suggest we discuss the SL best place. it seems the trial stop get hit fast with this method....
http://www.forexfactory.com/attachme...1&d=1359801626

When you are trading in the H4 timeframe, you must also consider the recent volatility in H4. Use ATR(5) and ATR(10) to see the most recent volatility. At the time of your entry, the ATR(5) and ATR(10) was betwen 48 pips and 50pips. Also the last swing high was about 51 pips above.
The best technical Initial SLwould be above this last swing high.

Trailing stop (TS) using 20pips is not a good idea as the price swings will take out your TS easily.

An effective method is to move your protective stops using the initial SL which is your risk "R". You move your stops to protect profit as the market move "R" pips from your entry point.

See chart example.
Attached Image (click to enlarge)
Click to Enlarge Name: GU initial SL example.png Size: 55 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #15,532
  • Feb 2, 2013 8:21am Feb 2, 2013 8:21am
Quoting emmanuel7788
http://www.forexfactory.com/attachme...1&d=1359801626

When you are trading in the H4 timeframe, you must also consider the recent volatility in H4. Use ATR(5) and ATR(10) to see the most recent volatility. At the time of your entry, the ATR(5) and ATR(10) was betwen 48 pips and 50pips. Also the last swing high was about 51 pips above.
The best technical Initial SLwould be above this last swing high.

Trailing...

Thank You Emmanuel,

The volatility index is great idea and I will start to use it now on to determine the SL and would move it accordingly.

My problem is that I cant follow the market during the day as am at office 7 am to 5 pm which meanas I must use the TS. Any idea how best to use the TS for this method considering the above problem.

Many thanks,
  • #15,533
  • Feb 2, 2013 8:32am Feb 2, 2013 8:32am
Quoting Orbit
Thank You Emmanuel,

The volatility index is great idea and I will start to use it now on to determine the SL and would move it accordingly.

My problem is that I cant follow the market during the day as am at office 7 am to 5 pm which meanas I must use the TS. Any idea how best to use the TS for this method considering the above problem.

Many thanks,

You can consider to use a trade manager EA to manage your trades after you open.
Instead of TS, use Jumping Stop Loss 'JSL' instead.
There is a good multi purpose trade manager MPTM in the Commercial section:
http://www.forexfactory.com/showthread.php?t=89371

JSL is good when youi manager using R-miltiple.
For example, if your R is 50pips, you set your JSL to 50pips after Breakeven, the MPTM will move your protective stop every 50pips and protect your folating profits. You can also set the BE move to 50pips, this way the MPTM will move your trade to BE when market move +50pips above your Entry Price.

Try it, I used MPTM for 3 years and find it very useful.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #15,534
  • Feb 2, 2013 12:26pm Feb 2, 2013 12:26pm
Quoting emmanuel7788
You can consider to use a trade manager EA to manage your trades after you open.
Instead of TS, use Jumping Stop Loss 'JSL' instead.
There is a good multi purpose trade manager MPTM in the Commercial section:
http://www.forexfactory.com/showthread.php?t=89371

JSL is good when youi manager using R-miltiple.
For example, if your R is 50pips, you set your JSL to 50pips after Breakeven, the MPTM will move your protective stop every 50pips and protect your folating profits. You can also set the BE move to 50pips, this way the MPTM will move...
Thank You Emmanuel

I will try it indeed

Many Thanks
  • #15,535
  • Feb 3, 2013 10:47am Feb 3, 2013 10:47am
Quoting Orbit
Thank You Emmanuel,

The volatility index is great idea and I will start to use it now on to determine the SL and would move it accordingly.

My problem is that I cant follow the market during the day as am at office 7 am to 5 pm which meanas I must use the TS. Any idea how best to use the TS for this method considering the above problem.

Many thanks,
would you please explain how to Use ATR(5) and ATR(10) to see the most recent volatility
  • #15,536
  • Feb 3, 2013 12:55pm Feb 3, 2013 12:55pm
Quoting wnabo


The key to this method is the Traders Dynamic Index indicator for entries and exits. I also use a Stochastics (8,3,3) indicator. It is ONLY used to confirm direction. Nothing else.

We only use Heiken Ashi candles... that's important.

[font=Comic Sans MS][size=3][color=#0000ff]We want you to be an active member...
May his gentle generous soul rest in peace. My question goes to the masters in this system as you can see above there were a lot of updates and i im confused about which is more relevant and which is not. Pls can someone let me know and put me through on how to replace the japanese candles with the heiken ashi candles in and the general trade setup. Thanks[/quote]

This is what your chart will look like with Synergy APB with Price Bars as an overlay
Attached Image (click to enlarge)
Click to Enlarge Name: apb plus price bars and tdi.gif Size: 38 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #15,537
  • Feb 3, 2013 1:04pm Feb 3, 2013 1:04pm
Quoting mnmnmmnnmnmn
If we look back on the UJ chart, there're full of negetive divergence all over the place, but the pair keeps running north. So the divergence method is not reliable any more.
Really?

Follow the Price action but be aware that there are warning signs of overbought.

When you continue to see breaks of the previous highs, and one chart is giving conflicting signals, check out different time frames. In this case with such a stong day trend, drop to H4 and manage your entries from there.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: tdi - price action day.gif Size: 33 KB
Click to Enlarge Name: tdi - price action h4.gif Size: 38 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #15,538
  • Feb 3, 2013 1:14pm Feb 3, 2013 1:14pm
Quoting janpec1000
Hello,

@mnmnmmnnmnm thank you for informations, i did went almost trough 600 pages but i guess i forgot that information. Its good to know it for next time.

Now today i am quite pissed off. My trade went exactly as where predicted it. Almost 100 pip it WOULD be if by i got stopped out as well like you with 20pip sl. So far i am seeing that trading this system requires at least 30 pip stop lost, this is already third time i got stoped out in negative with too tight stop loss. Even on low time frames as h1 or m30 require at least 20 pips. Its...
If you are aiming for 100 pips profit, then your 20pip SL is almost certain to be hit.

SL should account for the ATR on the Time Frame you are trading - check out dcginc's posts regarding the use of ATR 7 - another option is to set SL below / above the most recent swing high/low
"To live with Passion, it takes Courage and Grace to survive"
  • #15,539
  • Feb 3, 2013 4:55pm Feb 3, 2013 4:55pm
Quoting khalidhassan
would you please explain how to Use ATR(5) and ATR(10) to see the most recent volatility

Hi khalid,

That depends on which timframe you trade and you must consider the market volatility of that timeframe.

You can read up on ATR here:
http://forex-indicators.net/volatility-indicators/atr

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #15,540
  • Feb 3, 2013 5:17pm Feb 3, 2013 5:17pm
Quoting emmanuel7788
Hi khalid,

That depends on which timframe you trade and you must consider the market volatility of that timeframe.

You can read up on ATR here:
http://forex-indicators.net/volatility-indicators/atr

regards,
am trading eurusd gbpusd in 1H & 4H time frame
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