Trading Made Simple | Page 1792 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

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

Attachments: Trading Made Simple
Exit Attachments

Trading Made Simple

  • #35,821
  • Apr 14, 2014 8:53am Apr 14, 2014 8:53am
Quoting hostwey
Just watching EURAUD, its been tapping demand/support zone following news. Was hoping for a nice bounce to confirm uptrend, however if that (blue) demand zone is liquidated then confirms the resumption of the downtrend I guess, buts it looking oversold on H1 chart. Think phx62 choose a good pair to trade as it has a nice order flow about it (some pairs look like car crashes) and candles and a decent range. {image}
I'm actually targetting the first circled aread for my short, but unfortunately I'm dealing with oversold conditions as well as the pair nearly reaching its daily range... Might take a while before it hits, and I am not sure if I want to wait that long.

As far as the uptrend goes, 200 Day EMA is a good gauge for trend shifts - right now it's attempting to break it, we'll know by day end what happens. That being said, it's good to monitor EA for an eventual rally...
  • #35,822
  • Apr 14, 2014 8:55am Apr 14, 2014 8:55am
Quoting WDays
{quote} I'm actually targetting the first circled aread for my short, but unfortunately I'm dealing with oversold conditions as well as the pair nearly reaching its daily range... Might take a while before it hits, and I am not sure if I want to wait that long.
Yeh there was a nice short earlier but under my rules can't sell now due to demand zone and as you rightly point out, its done its range.
  • #35,823
  • Apr 14, 2014 9:00am Apr 14, 2014 9:00am
Quoting hostwey
Just watching EURAUD, its been tapping demand/support zone following news. Was hoping for a nice bounce to confirm uptrend, however if that (blue) demand zone is liquidated then confirms the resumption of the downtrend I guess, buts it looking oversold on H1 chart. Think phx62 choose a good pair to trade as it has a nice order flow about it (some pairs look like car crashes) and candles and a decent range. {image}
Weekly seems to be showing hidden bullish divergence, it`s a long way off but could be worth noting.
  • #35,824
  • Apr 14, 2014 9:10am Apr 14, 2014 9:10am
2 other trades taken today on H1 and one checked out
Attached Image(s) (click to enlarge)
Click to Enlarge Name: pic53.png Size: 61 KB
Click to Enlarge Name: pic54.png Size: 63 KB
Click to Enlarge Name: pic55.png Size: 56 KB
the cautious seldom err....C
  • #35,825
  • Apr 14, 2014 9:17am Apr 14, 2014 9:17am
Quoting Zoopots
{quote} USDCHF H4 update (open position): After weekend open I survived the 27 pips gap up and have managed the trade slightly. Moved S/L to .8782 protecting +130 pips of profit; reaffirmed TP at .8730; MFE currently stands at +171 and the pair is greatly oversold. Have not had a PA close >PAC but it's hinting at it...will analyze in 45 minutes...if so, Buy TDI cross will be analyzed and considered. {image}
All the genius's come out after the fact. The product works well without added toys. Should respect originators request to keep thread as installed. Doesn't need to be bloated into larger method. Should start new threads instead of corrupting workable original ones.
  • #35,826
  • Apr 14, 2014 9:21am Apr 14, 2014 9:21am
EURNZD week16 H4 14Apr.

Attached Image (click to enlarge)
Click to Enlarge Name: EURNZD week16 H4 14 Apr NY.png Size: 28 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #35,827
  • Apr 14, 2014 9:35am Apr 14, 2014 9:35am
Quoting spiritboy
{quote} Grow up Nelly, you don`t have to sit there waiting to jump on Emmanuel when something is said you don`t agree with, he has helped a hell of alot of people on here, if he wants to post regular then good for him, i just take what i need to learn and personally look forward to when phx62 posts as i think we all have our favoured mentors. So come on give it a rest as you will destroy this thread and take away great mentors like the above who don`t want to see bickering just questions from traders eager to learn!
  • #35,828
  • Apr 14, 2014 9:41am Apr 14, 2014 9:41am
Quoting brandy711
{quote}
I agree with you brandy. I have learnt a lot from Emmanuel. I Feel my self lucky to have mentor like him through this thread.
  • #35,829
  • Apr 14, 2014 9:46am Apr 14, 2014 9:46am
Caught this up move on gold. Really big engulfing bar with nice wick rejecting to go low.

Moved stop to BE.

I doubt it will break the 1330 but if it can, I'm hoping to ride the up trend so I'm not taking any profit anytime soon. It will either go higher to take me out at BE.
Attached Images
Everything you can imagine, is real - Pablo Picasso
  • #35,830
  • Apr 14, 2014 10:00am Apr 14, 2014 10:00am
Quoting Direwolf
Caught this up move on gold. Really big engulfing bar with nice wick rejecting to go low. Moved stop to BE. I doubt it will break the 1330 but if it can, I'm hoping to ride the up trend so I'm not taking any profit anytime soon. It will either go higher to take me out at BE. {image} {image}
Gold has been trading an upward channel for a little while. The next target is the 50% fib at about 1334. Will be taking profits near this level and then looking for a retracement to re-enter for the next fib level.
  • #35,831
  • Apr 14, 2014 10:02am Apr 14, 2014 10:02am
Quoting mact4
{quote} Gold has been trading an upward channel for a little while. The next target is the 50% fib at about 1334. Will be taking profits near this level and then looking for a retracement to re-enter for the next fib level.
Sorry. Should have added my chart for clarity.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 88 KB
  • #35,832
  • Apr 14, 2014 10:08am Apr 14, 2014 10:08am
Quoting Bizzzle
{quote} Yes... after making nearly 500 pips profit in a month, I will continue I have other accounts too, that I am trading but I think out of respect to Big E and His thread I shall continue to post only my trades from post 1 Best of luck
Best of luck for this.
Simplicity is the key and I really like the idea of closing trades at 3rd candle. It has lot of advantages like instead of only exiting at TP, you are entering a trade and exiting no matter how profitable or negative a trade is (assuming you are not stopped out) by a specified time.
Example: Predict only the next four hour's direction, enter the trade, exit the trade four hour later. No one knows how far the market is going to move.
I think pros like BIG E figured this out and accept more than any other exit method so they are less concerned about "TP's." Instead they try to predict a time interval's direction which makes them profitable. Their ability to predict larger moving hours correctly more so than they lose, therefore they are consistently profitable. Take out wishful thinking: (I want 150 pips this trade) replace with realistic return: (market moved 42 pips this past hour and I took it), continuously improve entry rules... Since exit is always constant, success constantly improves. Maybe this also helped Big E in developing the edge he had.
I am not random, U just can't think as fast as me....
  • #35,833
  • Apr 14, 2014 10:16am Apr 14, 2014 10:16am
Quoting Direwolf
Caught this up move on gold. Really big engulfing bar with nice wick rejecting to go low. Moved stop to BE. I doubt it will break the 1330 but if it can, I'm hoping to ride the up trend so I'm not taking any profit anytime soon. It will either go higher to take me out at BE. {image} {image}
We have common reasons to enter . Gold has given me a lot of profits lately and i hope it will keep doing this
I am not putting any TP on this one too, will just trail my stop loss below the previous daily low.

Attached Image (click to enlarge)
Click to Enlarge Name: gold.PNG Size: 48 KB
I am not random, U just can't think as fast as me....
  • #35,834
  • Apr 14, 2014 10:17am Apr 14, 2014 10:17am
Quoting thinkpad123
{quote} Hello Refer to post number 33376 and post number 34415 I have shared two different settings of mine. You can tweak them to your liking or let me know your requirements so i will make one for you.
Thank you for the setting.

I have no idea what's the problem with my settings? My intention is to Use_CandleTrail_HL only, thus I switched everything to false except CandleTrailHL.

Standard TP = 75
Standard SL = 40

Use_CandleTrailHL = true,
Activation = 1pip

However, I got the modify pop up for every single tick.

Anything wrong with my settings?

Appreciate your help.
Attached File(s)
File Type: zip onlytrailcandlehl.zip   1 KB | 322 downloads
  • #35,835
  • Apr 14, 2014 10:17am Apr 14, 2014 10:17am
Everyone thats PM me I will answer you shortly been out playing golf on this glorious day in london

Today trades trading the 4 hour as seen on page one:

6am: No trades

10am:

GU- +13 pips

Total = +13 pips checking the computer 3 times a day!!

I went short as a pullback candle form, It was not a standard pullback but If you see the candle took out the high of the prevous bar and then pullback and took out the bottom!!

Best of luck all and thank you so much BIG E!!
Attached Image (click to enlarge)
Click to Enlarge Name: 14.04.png Size: 20 KB
Give yourself a chance and trade it like it's layed out...
  • #35,836
  • Apr 14, 2014 10:19am Apr 14, 2014 10:19am
Quoting mact4
{quote} Gold has been trading an upward channel for a little while. The next target is the 50% fib at about 1334. Will be taking profits near this level and then looking for a retracement to re-enter for the next fib level.
Where do you draw the fibs from?
Everything you can imagine, is real - Pablo Picasso
  • #35,837
  • Apr 14, 2014 10:26am Apr 14, 2014 10:26am
Quoting Direwolf
{quote} Where do you draw the fibs from?
Fib drawn from high of 17 March to low of 1 April.

At the start of this upward channel, I was expecting a retracement only to the 23 or 38% fib, but as these have both now been exceeded, I'm aiming for the 50% fib now. The Daily TDI gap between the red and green looks good for a continued upward move. I'm prepared to hold for a few days. If you're trading off the H1, you may have a different criteria.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 38 KB
  • #35,838
  • Apr 14, 2014 10:29am Apr 14, 2014 10:29am
Quoting thinkpad123
{quote} Best of luck for this. Simplicity is the key and I really like the idea of closing trades at 3rd candle. It has lot of advantages like instead of only exiting at TP, you are entering a trade and exiting no matter how profitable or negative a trade is (assuming you are not stopped out) by a specified time. Example: Predict only the next four hour's direction, enter the trade, exit the trade four hour later. No one knows how far the market is going to move. I think pros like BIG E figured this out and accept more than any other exit method...


If we back-test and I have been doing a lot of this you will see pattern emerging like Big E said at certain times of the day if we get a good set-up with momentum price will likely continue in that direction!

The key is practicing and gaining confidence...

I always say to people that are struggling the trading is like driving a car... people can tell you how to drive, people can show u how to drive, you can read millions of book telling you how to drive...

but once you get in the car and do as they have said, can you drive???

no!! why??? because like trading you need to PRACTICE!!!

Big E said to start with you will be 60-65% to start with and then after 1-2 months 70-80% and then after 3-6 months 80%!!!!
Attached Image (click to enlarge)
Click to Enlarge Name: 60-80.png Size: 90 KB
Give yourself a chance and trade it like it's layed out...
  • #35,839
  • Apr 14, 2014 10:31am Apr 14, 2014 10:31am
Quoting thinkpad123
{quote} Best of luck for this. Simplicity is the key and I really like the idea of closing trades at 3rd candle. It has lot of advantages like instead of only exiting at TP, you are entering a trade and exiting no matter how profitable or negative a trade is (assuming you are not stopped out) by a specified time. Example: Predict only the next four hour's direction, enter the trade, exit the trade four hour later. No one knows how far the market is going to move. I think pros like BIG E figured this out and accept more than any other exit method...
Great post, and exactly how I have felt about the closing out a trade within 2-4 candles.

Perhaps in the future we will be able to develop the sense of certainty and calm Zoopots has when in his longer term trades.

But the certainty of knowing your trading in London, with the highest liquidity, largest moves (generally) and also knowing your only going for the next few candles adds up to a sense of confidence in the trades that was lacking for me in the longer term trades.

toffy
  • #35,840
  • Apr 14, 2014 10:32am Apr 14, 2014 10:32am
Quoting Bizzzle
{quote} If we back-test and I have been doing a lot of this you will see pattern emerging like Big E said at certain times of the day if we get a good set-up with momentum price will likely continue in that direction! The key is practicing and gaining confidence... I always say to people that are struggling the trading is like driving a car... people can tell you how to drive, people can show u how to drive, you can read millions of book telling you how to drive... but once you get in the car and do as they have said, can you drive???...
I recall a professional trader (and mentor) saying he can teach newbies a strategy very quickly, but it can 6/12 months to get them to actually trade it! As they have no confidence in it, and are chopping/changing rules adding pointless indicators and so on.

I suspect more confident/experienced traders have simpler and clearer charts.

Less is more.
36 traders viewing now