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Trading Made Simple

  • #19,141
  • May 13, 2013 11:54pm May 13, 2013 11:54pm
EJ 1h looking like it wants to go down. or am i hallucinating o.O?
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Daniel
  • #19,142
  • May 14, 2013 12:02am May 14, 2013 12:02am
Quoting Greenb
EJ 1h looking like it wants to go down. or am i hallucinating o.O? {image}
EJ is in range, we need a breakout, we need to see reversal pattern on H4, still there is nothing like that.....
JacekPreserve Precious Capital
  • #19,143
  • May 14, 2013 12:04am May 14, 2013 12:04am
Quoting Jackub
{quote} EJ is in range, we need a breakout, we need to see reversal pattern on H4, still there is nothing like that.....
so i really am hallucinating =.= ....need moree pipsss
Daniel
  • #19,144
  • May 14, 2013 12:10am May 14, 2013 12:10am
Quoting Greenb
{quote} so i really am hallucinating =.= ....need moree pipsss
I was impatient yesterday, efect... lost trades.... lack of discipline... tiny teeny frustriaton... relaxation/meditation, then analize my behaviour and today I am brend new trader!
JacekPreserve Precious Capital
  • #19,145
  • May 14, 2013 12:14am May 14, 2013 12:14am
Quoting Jackub
{quote} I was impatient yesterday, efect... lost trades.... lack of discipline... tiny teeny frustriaton... relaxation/meditation, then analize my behaviour and today I am brend new trader!
same here, lost 20 pips. took a long on GU at 2am my time, woke up 6am and its gone flat. i should have pull out but for whatever reason- i blame it on not enough caffeine- i did not pull out. would have been 10 pips lost and not 20.
Daniel
  • #19,146
  • May 14, 2013 12:42am May 14, 2013 12:42am
Quoting Greenb
{quote} same here, lost 20 pips. took a long on GU at 2am my time, woke up 6am and its gone flat. i should have pull out but for whatever reason- i blame it on not enough caffeine- i did not pull out. would have been 10 pips lost and not 20.
Greeneb , U can blame me , But mine is still on ,
  • #19,147
  • May 14, 2013 1:21am May 14, 2013 1:21am
Seating so many hours daily, watching the screen, desire to take trade is growing in my head… I think it's common feeling for many newbies like me… nothing really is going on markets but somehow I am trying over interpret what is on, I am trying unconsciously bending my rules, same time ruined my discipline. This is effect of lack of patience…. I need to grab more pips, I love to grab pips, but finally I am loosing pips.
How to help myself? How to be more patient…. what came across my mind is " shouldn't I create just few rules, very simple rules and following them almost blindly?" Simple rules is difficult to bend because they are simple and straight …
Why I pursuit reversals?? Because we need to sell high and buy low… fine, sounds great, but why in most cases when I am buying low, it is NOT THAT low, and when I am selling , it is NOT THAT high? If I am still not able to determine with high probability reversal point or PRZ, why for heck I am trying do this?
Solution is SIMPLE, on my road to become a trader I should join only running strong moves and do it with trend (MTF checks), I do not need to grab 75% - 85% of the moves, 15% - 25% will be far enough, really not how big move I can bank is important, important is to do this repeatedly and consistently. This can be achieved by training, patience, simple rules. Slowly but sure…..
This is, I think, what Big Eelfranz has in his mind giving name to his system "Trading Made Simple"
THIS IS BEGINNING of traders road….
JacekPreserve Precious Capital
  • #19,148
  • May 14, 2013 1:28am May 14, 2013 1:28am
Took this short on USDJPY. Yesterday, daily was indecision and is forming now an reversal pattern. On the H1 I see a break of 4 IB. in confluence with the break of TOK-5. Also there is resistance on the monthly. Let's see what's going to bring.
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  • #19,149
  • May 14, 2013 1:30am May 14, 2013 1:30am
Quoting Pipsmurfer
Took this short on USDJPY. Yesterday, daily was indecision and is forming now an reversal pattern. On the H1 I see a break of 4 IB. in confluence with the break of TOK-5. Also there is resistance on the monthly. Let's see what's going to bring. {image}
ive seen TOK-5 mentioned couple time lately....what is TOK-5?
Daniel
  • #19,150
  • Edited 2:15am May 14, 2013 1:31am | Edited 2:15am
Quoting terminator12
{quote} Greeneb , U can blame me , But mine is still on ,
ouch -50 now?
btw, i noticed you keep calling me Greeneb?
Daniel
  • #19,151
  • May 14, 2013 1:35am May 14, 2013 1:35am
Quoting Greenb
{quote} ive seen TOK-5 mentioned couple time lately....what is TOK-5?
It's the range wich is formed by the first 5 hours of the TOKio session. Emmannual has written many posts about it.
  • #19,152
  • May 14, 2013 2:48am May 14, 2013 2:48am
I often find myself blurry after sitting so many hours in front of pc, so from time to time I get a break, watching only H1 and H4 candles. This way I can avoid mistakes due to fatigue or impulsive trading. Simple rules set by Big E are quite fine and when you combine this with S/R levels or PASR then should be just fine.
Quoting Jackub
Seating so many hours daily, watching the screen, desire to take trade is growing in my head… I think it's common feeling for many newbies like me… nothing really is going on markets but somehow I am trying over interpret what is on, I am trying unconsciously bending my rules, same time ruined my discipline. This is effect of lack of patience…. I need to grab more pips, I love to grab pips, but finally I am loosing pips. How to help myself? How to be more patient…. what came across my mind is " shouldn't I create just few rules,...
  • #19,153
  • May 14, 2013 3:46am May 14, 2013 3:46am
Quoting Jackub
{quote} I was impatient yesterday, efect... lost trades.... lack of discipline... tiny teeny frustriaton... relaxation/meditation, then analize my behaviour and today I am brend new trader!
I have been very similar.. trigger happy, but unhappy at the losses, jumping in without A+++ approval, got to learn to wait so im turning a new leaf.. becoming the patient trader

And at the moment cant see anything to get too excited about so on another thought, Im monitoring 14 pairs as below, quite easy to monitor the crosses and PA, would like to hear thoughts on if this is too much, must admit it doesnt seem to produce any more trade opportunities, but im not gonna miss one lol..
How many pairs people monitoring? be nice to know, maybe i should look at reducing my list
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By failing to prepare, you are preparing to fail - Benjamin Franklin
  • #19,154
  • May 14, 2013 3:54am May 14, 2013 3:54am
Quoting Downunder
{quote} I have been very similar.. trigger happy, but unhappy at the losses, jumping in without A+++ approval, got to learn to wait so im turning a new leaf.. becoming the patient trader And at the moment cant see anything to get too excited about so on another thought, Im monitoring 14 pairs as below, quite easy to monitor the crosses and PA, would like to hear thoughts on if this is too much, must admit it doesnt seem to produce any more trade opportunities, but im not gonna miss one lol.. How many pairs people monitoring? be nice to know,...
I am watching 12 pairs on H1, which is my my working space, and have other account for only H4 with 8 pairs. Normally I am running one trade at the time/account,
JacekPreserve Precious Capital
  • #19,155
  • May 14, 2013 3:57am May 14, 2013 3:57am
Quoting Downunder
{quote} I have been very similar.. trigger happy, but unhappy at the losses, jumping in without A+++ approval, got to learn to wait so im turning a new leaf.. becoming the patient trader And at the moment cant see anything to get too excited about so on another thought, Im monitoring 14 pairs as below, quite easy to monitor the crosses and PA, would like to hear thoughts on if this is too much, must admit it doesnt seem to produce any more trade opportunities, but im not gonna miss one lol.. How many pairs people monitoring? be nice to know,...
DownUnder, I got disy just by looking at your screen! I think you should reduce to max six pairs you feel more comfortable with. I pesonally use six pairs and I think that even that is too much. I try to pick 2 or 3 at a time and leave the others for another day.
  • #19,156
  • May 14, 2013 4:30am May 14, 2013 4:30am
Quoting gegeorge
{quote} DownUnder, I got disy just by looking at your screen! I think you should reduce to max six pairs you feel more comfortable with. I pesonally use six pairs and I think that even that is too much. I try to pick 2 or 3 at a time and leave the others for another day.
yes so do i at time, but the plan is make the screen look like im actually designing some sci-fi webpage so the wife doesnt think im "staring at my charts again"... and its working...

I try to reduce it down to my watch list of about 3, but i tend just to colour the background of those ... and that really does confuse the wife
By failing to prepare, you are preparing to fail - Benjamin Franklin
  • #19,157
  • May 14, 2013 4:39am May 14, 2013 4:39am
Quoting Downunder
{quote} yes so do i at time, but the plan is make the screen look like im actually designing some sci-fi webpage so the wife doesnt think im "staring at my charts again"... and its working... I try to reduce it down to my watch list of about 3, but i tend just to colour the background of those ... and that really does confuse the wife
  • #19,158
  • May 14, 2013 5:10am May 14, 2013 5:10am
Just saw an POP-GUN, EU H4.
Good position: just below W pivot and M pivot and below 50%Fib of previous week.

Entry with half position, 50 pips SL. Waiting for retracements to trigger the second half position.
Attached Image (click to enlarge)
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  • #19,159
  • May 14, 2013 5:15am May 14, 2013 5:15am
Hi Guys,
I don't have any more than 3 pairs happening, I feel that is enough for me.
Cheers ! :-)
  • #19,160
  • May 14, 2013 5:18am May 14, 2013 5:18am
This there anyone within this thread that is using this system on the: Leaderboard / live trade ?
421 traders viewing now, 2 are registered:
gerryjam
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