Why Simple is better in trading and Complex is not | Forex Factory

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Why Simple is better in trading and Complex is not

  • #1
  • First Post: Nov 17, 2013 6:06am Nov 17, 2013 6:06am
I want to get people thinking and taking so let me post this there.
These are my thoughts on trading and see if we get some fire works lol.
But lets everyone be nice lol


Man I love FF so much junk on trading I think trade should be


To trade keep it simple

1. Find a trend-

2. Find a good stop - whatever you like - S/R S/D "OO" & "50" the other side of a 50, 100 200 MA whatever.

3. Find a target - whatever you like - S/R S/D ”OO" & "50" the other side of a 50, 100 200 MA whatever (I like it on a higher time frame)

4. make sure you have a good RRR

I like 1 to 4 so I can target 3 to 1 and if things change I can take it off at 1 to 2 and feel like a winner or better let it run.

5. Only trade in tradable times. Best 2am to noon est. or if you are trading on day chart NY close - 5pm est.

6. Find a trigger - The least important part of trading - my triggers keep getting simpler and simpler.

7. Put on your trade and take your chances. After that it’s a crap shoot

8. Set and forget ( I check 2 or 3 times a day) less is more in trading



RUN RUN RUN fast from anything else

The more the tools the worst it is

Ie. More than two tools ie Macd. MA, RSI etc.

And I will tell you why because if you get complex you are fighting head to head against the super computers who work 24/7

and you will lose big 95% of the time!! And they are looking for you! People complex "up" because they think it gives them more control in fact it’s less.

The two things we can do better than computers are (1) simple (2) follow what they as the big boys are doing.

We cannot be the well trained bank elephant but we can be the flea on his back. ( LOL)
  • #2
  • Nov 17, 2013 8:09am Nov 17, 2013 8:09am
Great idea - exactly where I would like to be with my trading - looking forward to participate in your thread
Never give up!!
  • #3
  • Nov 17, 2013 8:15am Nov 17, 2013 8:15am
Why get people thinking and talking ? Why not get them trading and making profit ?

You do trade, we copy. Then we make money and learn at the same time. This is very simple.

You say you follow 3 ducks. The 3 ducks guy occasionally come out with trades. You can do the same.
  • #4
  • Nov 17, 2013 8:20am Nov 17, 2013 8:20am
I don't think it's the tools that hurt. I think it's the rules for taking or not taking a trade and following the rules is where the problem comes in. I agree with you keeping it simple. But no matter how simple you try to keep things, if you don't have rules and here's where the tough part seems to be following the rules, simple or complicated won't make a difference. I have different rules for when I'm trading a longer term than when I'm trading short term because I believe you can't apply long term rules to short term trades or the other way around.
Nobody ever went broke closing a trade in profit
  • #5
  • Nov 17, 2013 1:12pm Nov 17, 2013 1:12pm
Quoting BeginnerJoe
Why get people thinking and talking ? Why not get them trading and making profit ? You do trade, we copy. Then we make money and learn at the same time. This is very simple. You say you follow 3 ducks. The 3 ducks guy occasionally come out with trades. You can do the same.
lol I am just trying to help a little and have some fellowship
I do not think its my job to make you rick
it will take on average about 10,000 hours of study and chart work to make it in forex
You are going head to head with some of the best minds in the world - Bankers etc
that is time you have to put in
I did lol


just to be clear - I do not follow 3 ducks
the 4 hour, 1 hour and then 5 mins, I think will not work long term
the reason is its to big a drop from 60 mins to 5 min (change it to 15 mins and I think you will do better)
He has added taking out the S/R which I think is great step forward.

In fact I do not trade trend at all I trade strength /weakness

cheers
  • #6
  • Nov 17, 2013 1:13pm Nov 17, 2013 1:13pm
Quoting gp00053
I don't think it's the tools that hurt. I think it's the rules for taking or not taking a trade and following the rules is where the problem comes in. I agree with you keeping it simple. But no matter how simple you try to keep things, if you don't have rules and here's where the tough part seems to be following the rules, simple or complicated won't make a difference. I have different rules for when I'm trading a longer term than when I'm trading short term because I believe you can't apply long term rules to short term trades or the other way...

I agree with you about the rules FOR SURE!!!!
but I think to many tools is a killer!!!!
  • #7
  • Nov 17, 2013 1:49pm Nov 17, 2013 1:49pm
Quoting TEB63
{quote} lol I am just trying to help a little and have some fellowship I do not think its my job to make you rick it will take on average about 10,000 hours of study and chart work to make it in forex You are going head to head with some of the best minds in the world - Bankers etc that is time you have to put in I did lol just to be clear - I do not follow 3 ducks the 4 hour, 1 hour and then 5 mins, I think will not work long term the reason is its to big a drop from 60 mins to 5 min (change it to 15 mins and I think you will do better) He has...
Don't worry, I won't make it your job to risk my money. You risk you own money and I will follow. There's no easier way to learn to trade than actually doing trading.

If you did follow 3 ducks recently, you would have had a winner. He shorted AUD/USD, and so did I. Although I wasn't copying him. I was short before he was.
  • #8
  • Nov 17, 2013 2:38pm Nov 17, 2013 2:38pm
Quoting TEB63
{quote} I agree with you about the rules FOR SURE!!!! but I think to many tools is a killer!!!!
For me I'm not sure the number of tools a trader uses is as much of a killer as the way they use them.
Nobody ever went broke closing a trade in profit
  • #9
  • Nov 17, 2013 4:59pm Nov 17, 2013 4:59pm
Quoting BeginnerJoe
{quote} Don't worry, I won't make it your job to risk my money. You risk you own money and I will follow. There's no easier way to learn to trade than actually doing trading. If you did follow 3 ducks recently, you would have had a winner. He shorted AUD/USD, and so did I. Although I wasn't copying him. I was short before he was.
that was a good trade you had congrads!!
I did trade that same pair early in the week !! - I would have traded the audjpy later in the week if I was going to trade the Aud
later in the week I traded the GpbJpy and the GbpCad
( I did post my trades as I took them by the way) and I did ok


anyways back to simple us complex any thoughts out there
  • #10
  • Nov 17, 2013 6:22pm Nov 17, 2013 6:22pm
What I have found is that you should be ready to accept a small win because many a time I get a great entry however the market doesn't move more than 10 points that's because your in a count tend wave (you don't know until the move happens regardless of entry skill) accept it take a scalp look for another trade, which will move a lot more then you know you have caught the majority of the trend based move usually between 15-45 points on cable.
Find your Favourite Pattern
  • #11
  • Nov 17, 2013 6:51pm Nov 17, 2013 6:51pm
Quoting Pipanator
What I have found is that you should be ready to accept a small win because many a time I get a great entry however the market doesn't move more than 10 points that's because your in a count tend wave (you don't know until the move happens regardless of entry skill) accept it take a scalp look for another trade, which will move a lot more then you know you have caught the majority of the trend based move usually between 15-45 points on cable.

How do you decide to take a small win? let it run?
  • #12
  • Nov 17, 2013 7:08pm Nov 17, 2013 7:08pm
Quoting Pipanator
What I have found is that you should be ready to accept a small win because many a time I get a great entry however the market doesn't move more than 10 points that's because your in a count tend wave (you don't know until the move happens regardless of entry skill) accept it take a scalp look for another trade, which will move a lot more then you know you have caught the majority of the trend based move usually between 15-45 points on cable.
Depends on the TF traded......
Doing what you like is Freedom. Liking what you do is Happiness.
  • #13
  • Nov 18, 2013 5:30am Nov 18, 2013 5:30am
why and how then
  • #14
  • Nov 18, 2013 7:36am Nov 18, 2013 7:36am
Quoting TEB63
1. Find a trend- 2. Find a good stop3. Find a target -4. make sure you have a good RRR 5. Only trade in tradable times.6. Find a trigger7. Put on your trade and take your chances. 8. Set and forget
These are all must-have knowledge.
But they never give you an edge for making money.

They just tell you what NOT to do.

You find an edge outside the box (of this knowledge).

ie; I don't use trendlines, SR, candlestick patterns (H&S), and Fib to find entries. I use them to avoid entries.

You get it?

So what my edge? It's almost an embarrassingly simple and stupid thing....
  • #15
  • Nov 18, 2013 7:47am Nov 18, 2013 7:47am
Quoting Forexgogo
{quote} These are all must-have knowledge. But they never give you an edge for making money. They just tell you what NOT to do. You find an edge outside the box (of this knowledge). ie; I don't use trendlines, SR, candlestick patterns (H&S), and Fib to find entries. I use them to avoid entries. You get it? So what my edge? It's almost an embarrassingly simple and stupid thing....

lol ok what is it please tell
  • #16
  • Nov 18, 2013 7:53am Nov 18, 2013 7:53am
Quoting TEB63
{quote} lol ok what is it please tell
One of my edges is EMA200 (15m 1h 4h day). I like to dance with it.
  • #17
  • Nov 18, 2013 8:24am Nov 18, 2013 8:24am
Your real edge comes when you realize there is no one size fits all when trading. In trading your edge comes with realizing there is more than one way to skin a cat.
Nobody ever went broke closing a trade in profit
  • #18
  • Nov 18, 2013 8:49am Nov 18, 2013 8:49am
Quoting Forexgogo
{quote} One of my edges is EMA200 (15m 1h 4h day). I like to dance with it.

I have used the 200ema as well on MTF !! good edge but "me thinketh there is more" lol
do tell
  • #19
  • Nov 18, 2013 8:50am Nov 18, 2013 8:50am
Quoting gp00053
Your real edge comes when you realize there is no one size fits all when trading. In trading your edge comes with realizing there is more than one way to skin a cat.

so having no rules is your edge?
  • #20
  • Nov 18, 2013 9:01am Nov 18, 2013 9:01am
Quoting TEB63
{quote} I have used the 200ema as well on MTF !! good edge but "me thinketh there is more" lol do tell
I've read your EMA200 thread. I do something like that.

The other thing, I use stochastics (5.3.3). I just watch when it turns (how beautifully it makes a u-turn is important) and don't care how high/low it is. I think you know what I mean...
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