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Trading Made Simple the right way, and other trading lessons 334 replies

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Trading Made Simple

Anyone else took some trades today?

Be active here and share with us and we shall learn together.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting jooshset
{quote} you are right.. I should learn more about ADR .... yes I'm happy with the result .. thanks emmanuel.. regards Yos

You may need to work on a clear set of exit conditions for different entry types.

ADR is just a measure of the volatility range which we use for day trading.

4H swing trading is different. I set my target using the average weekly range comparing the past 52 weeks and 100 weeks. Most often, 60% of that range get hit. In strong trending market type, 100% get hit quite easily.
NZDUSD is good example this week, just hit 100% weekly Ave range.
GBPUSD hit 60% and not reverse.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Achtung! Achtung!


Just saw this, CHFJPY Weekly chart. could be it the opportunity of a lifetime?!?! lol

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Quoting emmanuel7788
{quote} Good questions get asked all the time. Answer: We look at the market price. That's what we trade. Therefore we can trade any time, all the time and every time. Do you want to be a day trader, swing trader or position trader?
Hi, I like 4H TF, I am in demo fews months, the last 2/3 months EURUSD, GBPUSD I use cross EMA 5 to 21 If 5 cross 50 EMA the trend changes, I normally I have IN MY chart the 5, 21, 50, 100, 200 EMA, SupportResistencia barry, SupportResistencia 4H, D1, Weekly, Monthly , pivot daily, weekly, SEFC084 and same 2/3 more indicator, I get dizzy sometimes, change TF etc etc, so I found this system Trading Made Simple, sometimes simple is more good, wanted to know if this system also takes into account the SupportResistencia 4H / D1 ETC and pivot daily /weekly? There are many pages to read can sameone put TDI alert cross PushNotice to get alert in mobile thanks alot
I am eyeing USD/CAD Daily is about to hit the resistance ema 200 4hour is preparing to turn back up north and 1 hour is on the 3rd blue candle long term trend is up so what you guys thinking ??
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Nothing is True Everything is Permitted
EUR/JPY still didn't reach the moon I guess
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I Have Learned to Take Some Losses to Make Profits
Has anyone thought of coding this strategy into an EA? Is that possible?
Quoting Neon
Has anyone thought of coding this strategy into an EA? Is that possible?

Yes, Done.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
Quoting TheScorpS
EUR/JPY still didn't reach the moon I guess {image}
Hi Scorps
I have my ABCD drawn a bit differently
Price is about to reach a potential target. 50% retracement often leads to 141% extension.
Great profit targets can be identified when you have confluence of these levels with SR levels. In this case, i cant see any so would get out of the trade at 141% level(some pips below).

Cheers

Munir
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Quoting munirpt
{quote} Hi Scorps I have my ABCD drawn a bit differently Price is about to reach a potential target. 50% retracement often leads to 141% extension. Great profit targets can be identified when you have confluence of these levels with SR levels. In this case, i cant see any so would get out of the trade at 141% level(some pips below). Cheers Munir {image}
Listening to what BoJ Kuroda said, EJ may hit 139.00 by year end.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
positive data just released supporting $ it is more likely to see a dollar dominated market through the NY session
Nothing is True Everything is Permitted
Quoting emmanuel7788
{quote} Listening to what BoJ Kuroda said, EJ may hit 139.00 by year end.

140.00
easy to read the charts , just use your brain lads :d
little early then.

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thats 690pips btw. and not my account lol.
Quoting emmanuel7788
Anyone else took some trades today? Be active here and share with us and we shall learn together.
i didnt any. have to plan a little
Quoting emmanuel7788
{quote} Yes, Done.
can you do the TDI code for multicharts--a simple three lines indicator. it would be a great help since LMAX does not use
the MT4 platform.
thanks
Quoting emmanuel7788
Anyone else took some trades today? Be active here and share with us and we shall learn together.
Yes, I did. I won't bother you with the major screwups I did this week because I was not sticking to my own strategy, I was impatient and greedy and not willing to close losers, I made all the beginner-mistakes the last few days, but now i'm back on track.
I decided to change my strategy, three weeks ago. I only trade on PA and TDI. Only on H4. Only the majors and a few yenpairs. I have stochastics to confirm and two MA's. I only trade when everything is perfect, sentiment, HTF trend, etc, but I only read it in the TDI. So I buy when green>red>yellow>50. Ans I sell when G<R<Y<50.

My first TP is one ATR(20), my SL is the lowest low of the last two candles. (or highest high of two). Second half of the trade I let my profit run, no TP, and adjust my SL every new candle.
And basicly that's my strategy. I made trading simple again.
Apart from a few stupid trades I was very succesful with this for a few weeks so I've decided to stick with it for a while.
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Dabbeljoe, what are your 2 ma's?
Quoting mary4x
Dabbeljoe, what are your 2 ma's?
SMA 20 and SMA 40. Every time there is a crossing of green over the 50 line, meaning that sentiment is getting positive, the PA crosses the upper MA. And when the PA is going below 50, sentiment is getting negative, the PA crosses the lower MA. Sometimes there's one candle apart, the MA signal is usually one bar later.

When a new candle is formed, my goal is to open a new trade when the next candle reaches 5 pips above the setup candle, but in the picture I must admit that I opened it when the candle was only one hour old. And I set the sl a few pips below the LL2 of HH2, not exactly on it. But that's just details. Although it can save you. In the chart here, you can see two trades that look like good setups but a pending sell stop order would have saved you.
Bleu area's are area's where you could have had profits, red are area's where you would have had losses, unless you made a sell stop pending order 5 pips below the setup candle.
Compare the TDI and the crossings on the MA's...
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Hi,

my only trade this week on EURJPY. Reasons for enter:
1. Trading Time Frame MA bullish
2. Bullish TDI cross
3. MBL above 50
4. Price closed above the narrower channell
5. Price in a rising cahnnel (the wider one)

TP1: 2 ATR(7)
TP2: just below of the previous week's range Fib 138.2
TP3: jus below of the preious week's range Fib 161.8

take care,
thrax
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