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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

  • #18,321
  • Apr 26, 2013 11:28am Apr 26, 2013 11:28am
Quoting emmanuel7788
{quote} redfan, you need some practice on your own. doing it will make you learn this. it is not difficult. start go to post: 18228 http://www.forexfactory.com/showthre...99#post6637499 follow each of the channel with 3 swing points1,2 and 3... then as new sing points develop, you mark them 4, 5, 6 and so on... with every 3 swing points with TDI cross confirm, you can draw the channel using the MT4 channel tool. try it first..
emmanuel:

Thank will be working hard to learn this channel thing all weekend.
Have good weekend.
  • #18,322
  • Apr 26, 2013 11:38am Apr 26, 2013 11:38am
Quoting okanemici
This might be a good short gold trade !!! I wait for a small pulback to 1464 to enter or will try with a 3 18 cross down if that doesnt happen. {image}
Be careful Okanemici, look at the daily chart. Gold is about 9 days in an up trend and I have not seen signs of a real turn. I made some profits in Gold this week, all with long positions, but you need good nerves... It's up to you to decide,
  • #18,323
  • Apr 26, 2013 11:52am Apr 26, 2013 11:52am
Quoting Pipsmurfer
{quote} TP2 at + 86, still 1/3 of position open and SL moved to -40 of current price {image}
Party is over. Last part of this trade closed at SL +78. This was a nice day on Eurjpy. Unfortunately it's not always like this.
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  • #18,324
  • Apr 26, 2013 12:29pm Apr 26, 2013 12:29pm
You are right pipsmurfer, long term emas show uptrend and other scenario is a continuation above 18 and 3 if this was a pullback.And to be sure we have to wait for that.

Regards,

Okan


Quoting okanemici
This might be a good short gold trade !!! I wait for a small pulback to 1464 to enter or will try with a 3 18 cross down if that doesnt happen. {image}
Quoting Pipsmurfer
{quote} Be careful Okanemici, look at the daily chart. Gold is about 9 days in an up trend and I have not seen signs of a real turn. I made some profits in Gold this week, all with long positions, but you need good nerves... It's up to you to decide,
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  • #18,325
  • Apr 26, 2013 1:52pm Apr 26, 2013 1:52pm
Here are my trades for the week....I did not trade today because of some pressing business matters....still a good week.

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  • #18,326
  • Apr 26, 2013 3:34pm Apr 26, 2013 3:34pm
Quoting Phx62
Here are my trades for the week....I did not trade today because of some pressing business matters....still a good week. {image}

I see that you follow H4 and Daily trend and take trades in H1 TF, when TDI gives signals. Is that correct ?
  • #18,327
  • Apr 26, 2013 3:47pm Apr 26, 2013 3:47pm
Quoting gigitranza
{quote} I see that you follow H4 and Daily trend and take trades in H1 TF, when TDI gives signals. Is that correct ?
No, when I trade the H1 time frame, I take all my trades based on what I see on that time frame. I do have some S/R lines from the daily time frame and last H4 and Daily high and low lines on my chart but I do not follow the H4 or Daily trends to determine H1 entries.
  • #18,328
  • Apr 26, 2013 4:10pm Apr 26, 2013 4:10pm
Quoting Phx62
{quote} No, when I trade the H1 time frame, I take all my trades based on what I see on that time frame. I do have some S/R lines from the daily time frame and last H4 and Daily high and low lines on my chart but I do not follow the H4 or Daily trends to determine H1 entries.
OK, so you ignore other time frames.

Some of the entries, are made before TDI gives a clear signal. The THV Cavemanager EA helps you take those trades ?
  • #18,329
  • Apr 26, 2013 4:45pm Apr 26, 2013 4:45pm
Quoting Phx62
{quote} No, when I trade the H1 time frame, I take all my trades based on what I see on that time frame. I do have some S/R lines from the daily time frame and last H4 and Daily high and low lines on my chart but I do not follow the H4 or Daily trends to determine H1 entries.
Hi Phx62,

Thanks for sharing your experience to us.

Hope you would help:

 

  1. Saw you moved from EU to EJ, is it because EU is ranging more often than EJ?
  2. Do you have an extra H1 chart with Japanese candle, instead of ABP, when making an entry?
  3. If there is H1 candle break out, let say... break out of triple bottoms or ranging candles, but on the left there is a support/resistance opposite of this break out. What would you recommend?
  4. On H1, how do you wait for the entry? Do you check every hour when the candle's closed/open, or every 15mins, or do you stay in front of the chart all the time, or buy/sell stops? I usually stay in front of the chart and it's really tired. If I don't, I usually miss the entry when candle breaks out/decide its direction. Do you have any tip?


Thanks alot.

back... and more dangerous.
  • #18,330
  • Apr 26, 2013 4:56pm Apr 26, 2013 4:56pm
Quoting gigitranza
{quote} OK, so you ignore other time frames. Some of the entries, are made before TDI gives a clear signal. The THV Cavemanager EA helps you take those trades ?
My entries are made based on price action, candle pullbacks, S/R areas, etc and I confirm those entries with TDI. If the TDI green is about to cross and pointed in the direction of the trade, I will enter even when the cross has not completely happened. I have spent thousands of hours testing and learning when to enter these trades.
All my entries are made manually. The CaveManager only manages the trade once I enter, especially if I am unable to monitor the screen.
  • #18,331
  • Apr 26, 2013 5:16pm Apr 26, 2013 5:16pm
Quoting Phx62
Here are my trades for the week....I did not trade today because of some pressing business matters....still a good week. {image}
hello from SPAIN

is this an expert or u made by hand
there are any expert for this system on 4h TF or 1 TF

thanks

Have a nice week end every body
  • #18,332
  • Apr 26, 2013 5:31pm Apr 26, 2013 5:31pm
Quoting kbp
{quote} Hi Phx62, Thanks for sharing your experience to us. Hope you would help: Saw you moved from EU to EJ, is it because EU is ranging more often than EJ? Do you have an extra H1 chart with Japanese candle, instead of ABP, when making an entry? If there is H1 candle break out, let say... break out of triple bottoms or ranging candles, but on the left there is a support/resistance opposite of this break out. What would you recommend? On H1, how do you wait for the entry? Do you check every hour when the candle's closed/open, or every 15mins, or...
1. I pick the pair I am going to trade for the day based on the Average Daily Range of the pair, by news that may be scheduled and by any trends that may be occurring. For the past several months, EJ has been much more volitile than EU, so I mostly trade that pair. I occasionally will trade GU, EU or AU.

2. I only use the APB candles but have the Japanese candles overlayed so I can see open and close of the candles (see the little ticks on the sides of the candles on my chart). In the toolbars at the top of your chart, there is one named "charts". On that line, there are 3 squares named "bar chart", "candlesticks" and "line chart". Make sure the "bar chart" square is checked to see the open and close tics on the side of the APB bars.

3. Over time, I have learned that certain candle patterns and trending moves will blow right past S/R. If I enter on one of those patterns or a news release moves the market, I expect price to move past the S/R lines.....sometimes price may slow down or consolidate a bit but usually, price will move on through those areas following the consolidation. Unless I see a definite reversal signal, I expect price to continue in the direction it started.

3. I check the charts at the top of every hour when waiting for a trade set-up. I normally enter at the beginning of a new candle but if I am unsure the direction the candle is going to take, I sometimes wait for it to clear the high or low of the previous candle before entering. The rules of TMS are to take the trade at the beginning of the first or second candle. Why sit and wait for an hour watching price move up and down? You should not be entering a trade anyway until the beginning of a new candle. If you take that break from the computer for a little while and do something else (even take a nap), you take your mind off trading and come back more refreshed and ready to trade.
  • #18,333
  • Apr 26, 2013 6:56pm Apr 26, 2013 6:56pm
Quoting Phx62
{quote} 1. I pick the pair I am going to trade for the day based on the Average Daily Range of the pair, by news that may be scheduled and by any trends that may be occurring...
Thanks Phx62 for your knowledge. That'd help a lot for my H1 trading habit and to determine a good time for enter/exit a trade.

Also planned to move to EJ from EU too. EU is ranging 3-4 days out of 2 weeks. It's a big move so will take time.
(& I guess EU is ranging because it's the Eu&Us traders fighting. Where EJ is when ones awake and others are already sleeping, in other words: get murdered in the sleep lol!)

Quoting Amirsaid
{quote} hello from SPAIN is this an expert or u made by hand there are any expert for this system on 4h TF or 1 TF thanks Have a nice week end every body
Hello there. No expert advisor. Experience & skills only (& Phx62 is the H1 scalping master ).

If you're looking for expert advisor, better spend money in lottery instead. As with lottery at least you have some chances to win, with EA you have zero chance to find a good EA, given that you're new to forex.
Remember: profitable EA is never for sale. It is secretly shared among the authors who invented it. (thanks to EA, US lost 200billion when the "Obama Injured" news happened last week.)
back... and more dangerous.
  • #18,334
  • Apr 26, 2013 11:14pm Apr 26, 2013 11:14pm
Quoting Harlem
Jackub, tenmilewalk and the rest who are in the same boat... I understand your frustration because I too have been through it. I believe many traders who are consistent today have been through it as well. We are all human and we have emotions. If I would give an analogy on the emotional part of trading... It is like a journey to the summit of Mount Everest. You started the journey with a strong goal in mind, to be at the top like how other people have done it. (You started your forex journey) You have equipped yourself with sufficient knowledge...
Hi Harlem.
Firstly, thank you for your great contributions and patience with struggling traders. Your input is greatly appreciated.
Secondly, i too am in the frustration department. It doesn't matter how much of the technical analysis you know and apply. at times the trade just
does not play out as anticipated.
Your analogy of the mount Everest challenge is so true and so inspiring.
Never, ever, ever give up. Keep pursuing your goal and eventually you will overcome all obstacles!!!!!!


thank you Harlem.


Steve.
  • #18,335
  • Apr 26, 2013 11:42pm Apr 26, 2013 11:42pm
Quoting dee50
{quote} Try the original Checklist created by the originator of this thread, it worked for him and for many others since, because it is Simple. The original PDF is in the attachments section near the beginning of the thread. The more complicated your list becomes the more you will lose. Another method is to score your entry criteria, nothing complicated. e.g. I never enter unless I have at least 3 reasons. e.g. div + S&R + OB/OS or TDI cross or imminent + Stochs cross + Fib + confluence + BRN or variations of, just as long as there are at least...
thanks a lot!
  • #18,336
  • Apr 26, 2013 11:49pm Apr 26, 2013 11:49pm
Quoting Harlem
Jackub, tenmilewalk and the rest who are in the same boat... I understand your frustration because I too have been through it. I believe many traders who are consistent today have been through it as well. We are all human and we have emotions. If I would give an analogy on the emotional part of trading... It is like a journey to the summit of Mount Everest. You started the journey with a strong goal in mind, to be at the top like how other people have done it. (You started your forex journey) You have equipped yourself with sufficient knowledge...
Thanks Halrem for these words of self lifting and power encouraging, I'm willing to keep on climbing until the summit, climbers know that they might lose their lives but never give up until they fulfill their goal and reach the summit.
I Have Learned to Take Some Losses to Make Profits
  • #18,337
  • Apr 27, 2013 12:14am Apr 27, 2013 12:14am
Hi All,

I have been following quietly on this thread. I haven been making some right trades and believe I have not been observing the whole charts alongside with the PA of the bars, momentum, S/R etc. I could have been blindly following the TDI and stoch to make my entry/exit.

I have been analying the charts for a couple of weeks and noticed these 2 pairs which could be a possible entry? Hopefully, some experts can guide if I am seeing something here.....
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  • #18,338
  • Apr 27, 2013 12:38am Apr 27, 2013 12:38am
Quoting Phx62
{quote} 1. I pick the pair I am going to trade for the day based on the Average Daily Range of the pair, by news that may be scheduled and by any trends that may be occurring. For the past several months, EJ has been much more volitile than EU, so I mostly trade that pair. I occasionally will trade GU, EU or AU. 2. I only use the APB candles but have the Japanese candles overlayed so I can see open and close of the candles (see the little ticks on the sides of the candles on my chart). In the toolbars at the top of your chart, there is one named...
Phx62, thank you very much for the breakdown of how you trade.
You surely put to bed some of the queries i had regarding your entries. I see your use of the tdi in a masterful way.
Like you said. We need to do the time, to fully start understanding the finer intricacies of trading.
thank you for your generous contributions.


Steve
  • #18,339
  • Apr 27, 2013 4:00am Apr 27, 2013 4:00am
Quoting Phx62
{quote} My entries are made based on price action, candle pullbacks, S/R areas, etc and I confirm those entries with TDI. If the TDI green is about to cross and pointed in the direction of the trade, I will enter even when the cross has not completely happened. I have spent thousands of hours testing and learning when to enter these trades. All my entries are made manually. The CaveManager only manages the trade once I enter, especially if I am unable to monitor the screen.
Hi Phx62

Is the cavemanager only able to handle 1 chart? is it able to do so for 1 chart for different currencies? (1 eur pair, 1 jpy pair 1 usd pair). There seemed to be an issue when i used it. Metatrader will hang and I will get a message that metatrader is not responding. Good thing i was monitoring the charts and noticed this. my laptop has 3gb ram, so it should not be the cause. i figured that since you are very familiar with the cavemanager, maybe you could help me with respect to this issue.

also, do you set protective stop once the trade goes into the green? quite a few of the trades i took went positive but was stopped out due to the protective stop in place using cavemanager (kicks in after trade +25 pips). not sure if its a better choice to leave it untouched or better to BE than to see profit turn to loss within the hour before candle changes.

many thanks for your advise, but the issue of cavemanager causing metatrader to stop working and having to restart MT4 again to experience the issue again is worrying indeed.
  • #18,340
  • Edited 4:48am Apr 27, 2013 4:13am | Edited 4:48am
TMS 4H Trading CheckList on Chart...

How many of you want to see this checklist on your chart?

this should serve as constant reminder when you trade 4H.
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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