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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

  • #30,601
  • Edited 3:29am Feb 10, 2014 2:53am | Edited 3:29am
Quoting emmanuel7788
{quote} if you are trading based on TDI cross and the APB change in colour, what is the purpose of that 34EMA wave channel and 89EMA on your chart and how do you use them for these two trade decisions?

I use the 34 EMA channel and 89 ema just to follow the trend and/or enter bounces. If the ABB candle gets stuck inside the 34 EMA channel it gives me an indication to either close the trade for profits, wait for it to completely cross to resume its destination, or enter the bounce for the trend continuation.

For example here on AUD/JPY on the 1H chart, I am keeping watch since it hit an EMA. What will happen next ? Usually a bounce off it OR through it.
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Take what the market gives you.
  • #30,602
  • Feb 10, 2014 4:11am Feb 10, 2014 4:11am
Quoting emmanuel7788
{quote} I have a simple solution. I keep an old version build509 offline and use that version's MetaEditor for all my coding work. The complied .ex4 files will run in build600 with no problems... so far. Here is a link to how FF Member hanover did it. http://www.forexfactory.com/showthre...03#post7269903
Yes I saw that but couldn't get it to work either... I mean when I open the indicator I want to edit with the old build, it shows that the code has already been altered and in theory should work, but it still doesn't... I'm not great with coding and all this technical stuff, maybe I followed Hanover's instructions wrong. I will try again later, right now I'm too tired to even look at a chart.
  • #30,603
  • Feb 10, 2014 6:19am Feb 10, 2014 6:19am
EURAUD:

First sign of a pull back when that last H4 candle closed....but

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #30,604
  • Edited 6:47am Feb 10, 2014 6:30am | Edited 6:47am
Quoting omonisha
{quote} This video may help http://www.youtube.com/watch?v=FOu44yEv444[/qu OMONISHA THANK YOU SO SO VERY MUCH IT NOW WORKING FINE ALL MY INDICATORS ARE OPENING THANKS A MILLLIION GREATFUL ALSO LIKE TO THANK EMMANUEL I APPRECIATE
You are welcome my friend....trade well
Sad i'm not trying to understand PA
  • #30,605
  • Feb 10, 2014 7:51am Feb 10, 2014 7:51am
Quoting Oldie
{quote} Thanks for replying Britpip BUT my point is why THAT time when it is at the end of the Asian session & London not yet open. By using GMT times anyone can work out the times to trade in their timezone. Cheers Oldie
Asia often sets up the trend for the night - if it breaks the previous day high, then there is a good possibility of the trend continuing.

If there is a reversal setting up, then the previous day high is going to act as a resistance level.

He would still check in on the start of every H4 candle and would then see the LO and NYO candles which have much more volatility.
"To live with Passion, it takes Courage and Grace to survive"
  • #30,606
  • Feb 10, 2014 7:52am Feb 10, 2014 7:52am
Quoting emmanuel7788
EURAUD: First sign of a pull back when that last H4 candle closed....but {image}
Why is it too early? You want the body to be closer to 61.8?
Everything you can imagine, is real - Pablo Picasso
  • #30,607
  • Feb 10, 2014 7:52am Feb 10, 2014 7:52am
Closed AUD/USD short for now
  • #30,608
  • Feb 10, 2014 8:35am Feb 10, 2014 8:35am
Hi traders. I'm new to FF and have just recently started trading this strategy on the 4 hour time frame. Can someone please give me some advice on the best time to trade and which pairs are the best to trade. Eelfranz recommended looking at the 4hr tf 2 hours before the LO and also 2 hours after, but it doesn't seem logical to me to enter before the london open. Also which pairs are best to trade at this time? It also doesn't seem logical to me to trade a pair such as AUSUSD during the LO time. I greatly appreciate any advice anyone can give me.
  • #30,609
  • Feb 10, 2014 9:11am Feb 10, 2014 9:11am
Quoting Britpip7
{quote} I have a lot of time for Rick's analysis and the ABCD patterns make a lot of sense
Britpip, would you please pm me with info on Rick? If so, thanks.
  • #30,610
  • Feb 10, 2014 9:14am Feb 10, 2014 9:14am
hmm not a good start this week. After a full loss on Friday news, got another loss today on GJ.

Entered when price rejected 200 EMA and TDI crossed up. Exit when TDI hook back down for -14 pips.

Attached Image
Everything you can imagine, is real - Pablo Picasso
  • #30,611
  • Feb 10, 2014 9:15am Feb 10, 2014 9:15am
Quoting olly93
Hi traders. I'm new to FF and have just recently started trading this strategy on the 4 hour time frame. Can someone please give me some advice on the best time to trade and which pairs are the best to trade. Eelfranz recommended looking at the 4hr tf 2 hours before the LO and also 2 hours after, but it doesn't seem logical to me to enter before the london open. Also which pairs are best to trade at this time? It also doesn't seem logical to me to trade a pair such as AUSUSD during the LO time. I greatly appreciate any advice anyone can give me....
Hi there and welcome

The reason why Big E. recommended looking at the H4 2h before/2h after is because at that time his broker printed new H4 candles. The best time to trade is very relative... subject to a number of things, like which pair you trade and so on. Usually there's momentum at market openings, which is as close as you can get to the best time to trade. "MOM" - market open momentum is supposedly strongest as markets overlap, i.e London open + FF having opened an hour prior to that + Tokyo still active. There can sometimes be momentum as markets near closing time or are closing, i.e 12pm gmt+2 for tokyo close, 7pm gmt+2 for London close. However like you pointed out yourself, AU would rarely move with euro traders who are way more interested in euro pairs (that includes GBP), so based on the pair you would want to trade you have to backtest to see when it tends to move most often.

The pairs you would trade is entirely up to you. Some of us like volatile pairs with a 200 ADR like GJ, EA... Others like small but sure things. It's a matter of personal preference. I suggest whatever you pick, you stick to.
  • #30,612
  • Feb 10, 2014 9:22am Feb 10, 2014 9:22am
Quoting Direwolf
hmm not a good start this week. After a full loss on Friday news, got another loss today on GJ. Entered when price rejected 200 EMA and TDI crossed up. Exit when TDI hook back down fopr -14 pips. {image}
It happens, sadly... It's okay though. 14 pips is a small loss compared to what profit GJ can yield. You have to keep in mind mondays are a bit slower than other week days and also today's a holiday in Japan. I suppose the move down towards the 200EMA this morning was nothing more than profit taking from the last few days' bull move...

However, personally I wouldn't have taken this setup because I'd like for H4 to be hinting towards the direction I am looking to trade, and by the looks of it, you were entering long following an engulfing bear candle + a TDI crossed to the downside on H4.

EDIT: Scratch the holiday in Japan stuff, I dont know where I saw that... I'm kind of disconnected from reality right now
  • #30,613
  • Feb 10, 2014 9:37am Feb 10, 2014 9:37am
WD - for EJ and GJ, do you think it's better to trade only London session? Looking back a few months, first 2 candles at LO seem pretty reliable.... I just don't want to miss the pips during Asian, not a good way I think I guess.

Thanks for your kind words!
Everything you can imagine, is real - Pablo Picasso
  • #30,614
  • Feb 10, 2014 9:46am Feb 10, 2014 9:46am
Quoting Direwolf
WD - for EJ and GJ, do you think it's better to trade only London session? Looking back a few months, first 2 candles at LO seem pretty reliable.... I just don't want to miss the pips during Asian, not a good way I think I guess. Thanks for your kind words!
Don't mention it,

EJ I mostly trade at tokyo and london... GJ pretty much follows, except it very often gives a good entry in the afternoon, with NYO and often times around this time (case in point).
  • #30,615
  • Feb 10, 2014 9:54am Feb 10, 2014 9:54am
I see. Thanks WD. For some reason I haven't thought much about NY session... it's also a good session to trade right?

GJ is having a nice move down. On the bright side, I made the right call closing my position. On the bad side, the loss prevented me from entering that TDI cross down. Could have made back what I've lost.

Truly a mind game, Forex is.
Everything you can imagine, is real - Pablo Picasso
  • #30,616
  • Feb 10, 2014 10:22am Feb 10, 2014 10:22am
Quoting Direwolf
I see. Thanks WD. For some reason I haven't thought much about NY session... it's also a good session to trade right? GJ is having a nice move down. On the bright side, I made the right call closing my position. On the bad side, the loss prevented me from entering that TDI cross down. Could have made back what I've lost. Truly a mind game, Forex is.
It depends, sometimes it provides a fresh setup. I can't say I trade any specific session anymore, I just check my chart at various times of the day depending on how the more volatile times performed. In other words, if LO was bad, I will check my charts at 12 pm, 2pm, 3pm and sometimes 5 pm my time (gmt+2). I will then usually relax a little and be back around sydney to see how things are looking, I may wait until Asia or if I've gotten my daily pips I'd call it a night unless something really sweet is setting up.

Each time I look at Daily and H4, I often look for divergences and signs of trend reversal... Or eventual continuation.
  • #30,617
  • Feb 10, 2014 12:13pm Feb 10, 2014 12:13pm
would someone tell me where to find/locate the build version of mt4 (MBtrading)
Thanks in advance
  • #30,618
  • Feb 10, 2014 1:26pm Feb 10, 2014 1:26pm
Quoting sfg7th
would someone tell me where to find/locate the build version of mt4 (MBtrading) Thanks in advance
With MT4 open, click on Help then on About. Gives the build number there.
  • #30,619
  • Feb 10, 2014 3:16pm Feb 10, 2014 3:16pm
Quoting Direwolf
{quote} Why is it too early? You want the body to be closer to 61.8?
Too early because the previous two days were bullish pin bars and a bullish Asian session.
The D TDI green is angle up. To catch a 4H swing, I want to see a bearish D and also I want to see that D and W to be in the synergy bias wise.
Liquidity is rather low and most pairs are moving slow.
Patience is important when we want to get into the market with high probability setup.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #30,620
  • Feb 10, 2014 3:17pm Feb 10, 2014 3:17pm
Evening all (UK anyway),

It seemed to be a quiet day today looking back over the London and New York sessions.

I was wondering how many of us have set rules for every single trade we enter or do you vary it from trade to trade!

I have found my results have gone from strength to strength when I follow a set plan and try and make my trading as unemotional as possible. Just thought whilst the market was quiet we could share some ideas on ROE. I have very much adapted a style similar to PHX62 and reading the last few hundred threads many others have to.

As time is coming back to me I hope to share with you all again over the coming weeks.

I hope you all have a successful day tomorrow.

Adam
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