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Monitor for 'Trading Made Simple' system 565 replies

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

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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

  • #34,881
  • Apr 7, 2014 12:06am Apr 7, 2014 12:06am
Quoting emmanuel7788
{quote} Thank you mor707 for bringing back this pdf. This is a great document describing the 5-Method which we discuss in this TMS thread. This simple method works in all timeframes, you just need to know when and how to trade with it. It is trend trading and there is a trend in every timeframe. The range of the trend is what you must know when you jump into the market. My favourite pic on Market Trends. {image} Have a Great...
Thank you,
This is a very good reminder to all new traders.
  • #34,882
  • Apr 7, 2014 12:12am Apr 7, 2014 12:12am
Quoting sharincarin
{quote} Hi there, you should read post#34,808 of Emmanuel7788. I have the same question before. Regards


Thanks thats exactly what I was looking for
  • #34,883
  • Edited 1:51am Apr 7, 2014 12:32am | Edited 1:51am
Quoting Zoopots
3 Apr update: Moved S/L up to lock in additional profit; +370 pips now protected. Weekly and Daily still favorable to my Buy, but since the pair is stalling at major resistance of 95.70 the H4 is beginning to hint Sell. 6 Apr update (market open): (AUDJPY H4) Moved S/L to a very tight 95.75 protecting 397 pips of profit. Came within 24 pips of Target. TDI hinting at Sell but no close below PAC as you can see below. 20 days in trade
Stopped out for +397. Will start considering short now.
  • #34,884
  • Apr 7, 2014 12:42am Apr 7, 2014 12:42am
Nice one Zoopots ... I've been eying AJ for a short too....
.... laughing all the way to the bank
  • #34,885
  • Apr 7, 2014 3:13am Apr 7, 2014 3:13am
Quoting Zoopots
{quote} Stopped out for +397. Will start considering short now.
Dear, we will be grateful, if you share when you enter Short in this pair.
It will be beneficial for so many of us and will safe us from false entries.
Regards.
  • #34,886
  • Apr 7, 2014 3:17am Apr 7, 2014 3:17am
Long NU on the bounce trade. All time frames are showing an up trend. 20 pips SL for infinite gains. Lets get this week started off right!

Attached Image (click to enlarge)
Click to Enlarge Name: nzdusdh4.png Size: 65 KB
MAY THE PIPS BE WITH YOU!
  • #34,887
  • Apr 7, 2014 3:30am Apr 7, 2014 3:30am
Quoting as33156
Long NU on the bounce trade. All time frames are showing an up trend. 20 pips SL for infinite gains. Lets get this week started off right! {image}
Yes I thought NU too but given its 7 APB's in on the H4 I thought I might have been risking the odds. Sure hope it works for you though.

Can't see a bounce trade on my TDI though (well not yet anyway).
  • #34,888
  • Apr 7, 2014 3:52am Apr 7, 2014 3:52am
Quoting as33156
Long NU on the bounce trade. All time frames are showing an up trend. 20 pips SL for infinite gains. Lets get this week started off right! {image}
I will enter it on break of 8615
  • #34,889
  • Apr 7, 2014 3:59am Apr 7, 2014 3:59am
I see many divergences of EUR pairs. I took two trades today, one trade on EJ and one trade on ECAD.
I wrote the reason for trading in these pictures below. Please tell me your opinions. Thank for considering.

EURJPY
http://i1248.photobucket.com/albums/...pse7580486.png

EURCAD
http://i1248.photobucket.com/albums/...psb0947f01.png

EURAUD
http://i1248.photobucket.com/albums/...ps0ba52227.png
  • #34,890
  • Apr 7, 2014 4:01am Apr 7, 2014 4:01am
Quoting Zoopots
3 Apr update: Moved S/L up to lock in additional profit; +370 pips now protected. Weekly and Daily still favorable to my Buy, but since the pair is stalling at major resistance of 95.70 the H4 is beginning to hint Sell. 6 Apr update (market open): (AUDJPY H4) Moved S/L to a very tight 95.75 protecting 397 pips of profit. Came within 24 pips of Target. TDI hinting at Sell but no close below PAC as you can see below. 20 days in trade {image}
Interesting how your AUDJPY compares with my H4 and I have one close below the PAC.
Attached Image
  • #34,891
  • Apr 7, 2014 4:06am Apr 7, 2014 4:06am
Rather quiet Asian session with China on holidays. Now with Tokyo closed, let's see what the European market makers will do when there is no major news events today.

Tomorrow is BOJ poilcy statement so expect some movement for JPY pairs.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #34,892
  • Apr 7, 2014 4:07am Apr 7, 2014 4:07am
Quoting khanhtrinhmd
{quote} Hi Bizzzle, many times i see you stop at break even or stop out with 5-10 pips. Do you use THV Cavemanager to manage your trade? If you use THV, do you set the same number of "use no loss after pips" for all pairs? Thanks for considering my post.
Hi mate, I don't use any EA. If I open a position at 6am I will check my computer at 10am and manage my trades from there, i.e move stops to Break-even etc.
Give yourself a chance and trade it like it's layed out...
  • #34,893
  • Apr 7, 2014 4:16am Apr 7, 2014 4:16am
Quoting as33156
Long NU on the bounce trade. All time frames are showing an up trend. 20 pips SL for infinite gains. Lets get this week started off right! {image}
Hi mate,
Look at the Chart you added for NU, for the past 12 hours it hasn't broken the high of the previous 4 hour candles, for me this doesn't have a high probability of success....

Try waiting for only the best set-ups, you will have less trades but more success

Best of luck mate
Give yourself a chance and trade it like it's layed out...
  • #34,894
  • Apr 7, 2014 4:19am Apr 7, 2014 4:19am
Quoting Bizzzle
{quote} Hi mate, I don't use any EA. If I open a position at 6am I will check my computer at 10am and manage my trades from there, i.e move stops to Break-even etc.
Thank Bizzzle, i hope you will get lots of green pips this week .
  • #34,895
  • Apr 7, 2014 4:19am Apr 7, 2014 4:19am
Quoting Bizzzle
{quote} Hi mate, I don't use any EA. If I open a position at 6am I will check my computer at 10am and manage my trades from there, i.e move stops to Break-even etc.

so you simply trade the London 6am and 10 am H4 candles, am I right?

and you close all trades at 2pm London time, regardless if the trades are in profit or loss, right?

what is the percent risk for each of the currency pairs you traded so far?

do you trade live account using MT4 broker?

do you trade using only one live account of separate accounts?

what is the maximum percent risk for any one day since you are trading multiple currency pairs?

do you trade when there is news release during the London session?
  • #34,896
  • Apr 7, 2014 4:32am Apr 7, 2014 4:32am
Quoting vtayha
{quote} so you simply trade the London 6am and 10 am H4 candles, am I right? and you close all trades at 2pm London time, regardless if the trades are in profit or loss, right? what is the percent risk for each of the currency pairs you traded so far? do you trade live account using MT4 broker? do you trade using only one live account of separate accounts? what is the maximum percent risk for any one day since you are trading multiple currency pairs? do you trade when there is news release during the London session?
Please read through my posts, as I have said many time here I am doing as the thread owner was doing on page one!!

I haven't seen you post here in over four month and now you asking me all these question lol

Asking a trader, there % risk, leverage, how much money they have in there account etc, is private information and to be honest rude!!

read the thread I am trading the same way as page one!

He thought different to everyone else and made lots of pips, I am now trailing it out for a month and its been very successful.
Give yourself a chance and trade it like it's layed out...
  • #34,897
  • Apr 7, 2014 4:55am Apr 7, 2014 4:55am
Quoting Bizzzle
{quote} Please read through my posts, as I have said many time here I am doing as the thread owner was doing on page one!! I haven't seen you post here in over four month and now you asking me all these question lol Asking a trader, there % risk, leverage, how much money they have in there account etc, is private information and to be honest rude!! read the thread I am trading the same way as page one! He thought different to everyone else and made lots of pips, I am now trailing it out for a month and its been very successful.

what a character!

you simply don't have all the answers to my simple questions and making such lame excuses about being private information.

it is about risk management and money management in general.

thank you anyway for taking your precious time to post such reply.

  • #34,898
  • Apr 7, 2014 5:08am Apr 7, 2014 5:08am
Quoting Bizzzle
{quote} Please read through my posts, as I have said many time here I am doing as the thread owner was doing on page one!! I haven't seen you post here in over four month and now you asking me all these question lol Asking a trader, there % risk, leverage, how much money they have in there account etc, is private information and to be honest rude!! read the thread I am trading the same way as page one! He thought different to everyone else and made lots of pips, I am now trailing it out for a month and its been very successful.

Bizzle;

In my humble opinion, I think you are over-simplifying things referring to just page 1 or is it post#1.

I read all the posts in the CHS thread on 5-Method and all the 463 posts by eelfranz in this TMS thread, eelfranz did not trade the way you are doing here in trading several currency pairs at the same time. He traded standard lots, sometimes 3 to 5 standard lots and usually one to two paris at the same time. I recall some of the skyp sessions he warned us about over trading and over expose our accounts when we trade too many pairs at the same time and have too many open positions which can influence our decision when we manage trades.

I can see you want to score on the number of pips but what is the risk is trading several pairs at the same time. How do you manage the risk in so doing.
What I see is you are entering based on market time and exit on market time. That is like what time based entry and exit system is about.

regards,

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #34,899
  • Apr 7, 2014 5:09am Apr 7, 2014 5:09am
Quoting mor707
{quote}Look at the attached doc which is a compilation of Big E's posts from that thread. (...) Actually, I just want to draw your attention to Big E's trading the D1.....maybe there's something of value for you in that. enjoy. {image}
Huge thank you for that .pdf! It was really helpful to read eelfranz's posts 2 years before TMS, his old posts reminded me of myself now. It's great to see the difference in that topic and this one, which way eelfranz went in trading.

Quoting Bizzzle
{quote} Please read through my posts, as I have said many time here I am doing as the thread owner was doing on page one!!
Thanks for posting your results. eelfranz's method seems to simple to understand without complicating I've just spent 3 hours on GU H4 backtesting (autoscrolling off, [HOME] button to scroll the chart all the way back and [F12] to go step by step), 1.5 hour any entries and rest exactly how eelfranz described. 3 hours to realize I did all my entries wrong for the last week

As for today, AUDCAD drives me crazy, it went beautifully up, but there was no clear signal it would. Now waiting for EU to make up it's mind, wasn't sure about the entry back then so I just marked it with a vertical line (entry would have been on the close of the marked candle/open of a new candle at 10am)
Attached Image
  • #34,900
  • Apr 7, 2014 5:19am Apr 7, 2014 5:19am
When people say they are back testing what do they mean? Big E used to say studying old charts was essential to the method, and I do scroll back and go through old charts and mark possible trades and the position of the TDI , and scroll forward with F12 key to see the results so I can't prejudge the decision.

Its not ideal though because in real life indicators can repaint and change direction, and what looks a good trade now, might not have appeared so good back then! I just wondered if there was a better solution.

I've looked at MT4 back testing and it just seems to back test EA's. MACD crossover etc..
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