Trading Made Simple | Page 2059 | 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

  • #41,161
  • Sep 18, 2014 7:59am Sep 18, 2014 7:59am
Hmmm...

Could someone please enlighten me on what I did wrong? EA Long at red vertical line (price at red horizontal line, and SL at horizontal line below (40pips SL).

Why I took the trade: Good TDI cross above 50 and MBL, TDI H4 step up, Cross yesterdays high and crossing week mid hi, no lower wicks. What did I do wrong? 40 pips loss...
Attached Image (click to enlarge)
Click to Enlarge Name: EA problem.jpg Size: 344 KB
  • #41,162
  • Sep 18, 2014 8:35am Sep 18, 2014 8:35am
Quoting Arkhambliss
Hmmm... Could someone please enlighten me on what I did wrong? EA Long at red vertical line (price at red horizontal line, and SL at horizontal line below (40pips SL). Why I took the trade: Good TDI cross above 50 and MBL, TDI H4 step up, Cross yesterdays high and crossing week mid hi, no lower wicks. What did I do wrong? 40 pips loss... {image}
read my post yesterday
I Have Learned to Take Some Losses to Make Profits
  • #41,163
  • Sep 18, 2014 8:43am Sep 18, 2014 8:43am
Quoting TheScorpS
{quote} read my post yesterday
You're right. I need more training and will wait for candle 2 or 3 to form first. Will be switching down to M30 TF too.
  • #41,164
  • Edited 9:44am Sep 18, 2014 9:01am | Edited 9:44am
Quoting Arkhambliss
Hmmm... Could someone please enlighten me on what I did wrong? EA Long at red vertical line (price at red horizontal line, and SL at horizontal line below (40pips SL). Why I took the trade: Good TDI cross above 50 and MBL, TDI H4 step up, Cross yesterdays high and crossing week mid hi, no lower wicks. What did I do wrong? 40 pips loss... {image}

The reason that it did not work was because you were taking a long right into a big resistant area so it would have never ever worked period..plus all setups don't work all the time plain and simple
  • #41,165
  • Sep 18, 2014 9:10am Sep 18, 2014 9:10am
Attached Image (click to enlarge)
Click to Enlarge Name: 50.jpg Size: 135 KB
  • #41,166
  • Sep 18, 2014 9:43am Sep 18, 2014 9:43am
Quoting emmanuel7788
{quote} Hi Britpip7, Thanks for sharing this watch list. Here is my view on CADJPY this week. I am still buy bias as we had a bullish August Month. The weekly range of this pair is rather small and today we have Japan bank holidays. Although we saw two Days of price pull-back and that Day inside Bar, an IB breakout would be a like trade set-up on D chart. The previous week candle has a very long upper wick and I am looking for a bearish week close this week before I take any sell trades. There is a historical Support and Resistance level 98.86 where...
Got to hand this one to ya Emmanuel. You picked it well, I traded badly , Demo still
Attached Image (click to enlarge)
Click to Enlarge Name: 200pips.png Size: 24 KB
"You know what needs to be addressed , completely completely reverse that".
  • #41,167
  • Sep 18, 2014 10:00am Sep 18, 2014 10:00am
Quoting Arkhambliss
{quote} You're right. I need more training and will wait for candle 2 or 3 to form first. Will be switching down to M30 TF too.
You see it does the same over and over again; lo prints a candle up, retrace and starts again
I Have Learned to Take Some Losses to Make Profits
  • #41,168
  • Sep 18, 2014 11:42am Sep 18, 2014 11:42am
Quoting Arkhambliss
Hmmm... Could someone please enlighten me on what I did wrong? EA Long at red vertical line (price at red horizontal line, and SL at horizontal line below (40pips SL). Why I took the trade: Good TDI cross above 50 and MBL, TDI H4 step up, Cross yesterdays high and crossing week mid hi, no lower wicks. What did I do wrong? 40 pips loss... {image}
Probably reacting to previous day's high, an area for caution, though five candles later the trade was in profit and you wouldn't have been taken out before that if you'd placed your stop at the low of the previous candle before your trade. However, very easy to be an expert after the trade, not very easy in realtime and emotions become a factor.
  • #41,169
  • Sep 18, 2014 11:49am Sep 18, 2014 11:49am
Quoting adikashyap
{quote} I would not take this trade ... 1. Candles are small ... 2. Cross over has not finished yet .... seems to be in the middle of the candle formation ... 3. Green and Red lines are heading different direction ... Might be a Fakey ... 4. Will await for proper confirmation ... 5. It is Dangerous as of now to trade against USD ...
I never wait for your number 2, as long as its a good cross angle when the candle opens which is how Eelfranz traded it, then I go in as long as h4 agrees, to be honest the minute I stopped over thinking everything and going in on these four points only, my balance has soared higher than I thought possible.

1. Good cross angle at the beginning of the candle (tdi watchdog can help with the alarm for that)
2. HTF agrees, htf tdi is moving in the same direction, either by having crossed already and green line still stepping up or htf shows a large step up in the direction you want to go in on.
3. You are not buying into resistance, or selling into support - wait until its gone through and retesting.
4. Preferably 1st or second candle of the colour you want it to be.

I don't let anything else influence my decision, not news, not thinking it couldn't possibly go any further, absolutely nothing else.
  • #41,170
  • Sep 18, 2014 11:55am Sep 18, 2014 11:55am
Quoting Arkhambliss
Hmmm... Could someone please enlighten me on what I did wrong? EA Long at red vertical line (price at red horizontal line, and SL at horizontal line below (40pips SL). Why I took the trade: Good TDI cross above 50 and MBL, TDI H4 step up, Cross yesterdays high and crossing week mid hi, no lower wicks. What did I do wrong? 40 pips loss... {image}
The bounce happened at the open of the candle before you went in, thats where you should have been thinking about going in, as it was a good angle, and the resistance area was where you should have been thinking about either taking some profit and moving to breakeven or taking profit on all of it.
  • #41,171
  • Sep 18, 2014 12:44pm Sep 18, 2014 12:44pm
GJ trades that I have been in for 3 days, adding positions as it developed. A near perfect ABCD setup (see the H4 chart). All entries and monitoring was done on the H1 time frame (see H1 chart). Initial entry on a Pullback Candle Reversal Formation with the angle of the TDI up but not yet crossed. Entered based on the PCRF and the ABCD setup. Entry 2 on a LO continuation. When the LO candle broke above the previous candle, I entered. Entry 3 made following a strong blue candle and I just happened to be at my computer. I don't usually trade that time of day but entered based on the ABCD setup. Entry 4 was made on a LO pullback and all 4 trades hit the target based on the ABCD setup.
Attached Image (click to enlarge)
Click to Enlarge Name: 2014.9.18 gj h4 abcd.png Size: 72 KB
Attached Image (click to enlarge)
Click to Enlarge Name: 2014.9.18 gj h1 3days.png Size: 70 KB
  • #41,172
  • Sep 18, 2014 12:46pm Sep 18, 2014 12:46pm
Quoting lastingwell
{quote} I never wait for your number 2, as long as its a good cross angle when the candle opens which is how Eelfranz traded it, then I go in as long as h4 agrees, to be honest the minute I stopped over thinking everything and going in on these four points only, my balance has soared higher than I thought possible. 1. Good cross angle at the beginning of the candle (tdi watchdog can help with the alarm for that) 2. HTF agrees, htf tdi is moving in the same direction, either by having crossed already and green line still stepping up or htf shows...
Great advice lastingwell, wish I could stick to the simple rules myself.
  • #41,173
  • Sep 18, 2014 12:48pm Sep 18, 2014 12:48pm
Quoting Phx62
GJ trades that I have been in for 3 days, adding positions as it developed. A near perfect ABCD setup (see the H4 chart). All entries and monitoring was done on the H1 time frame (see H1 chart). Initial entry on a Pullback Candle Reversal Formation with the angle of the TDI up but not yet crossed. Entered based on the PCRF and the ABCD setup. Entry 2 on a LO continuation. When the LO candle broke above the previous candle, I entered. Entry 3 made following a strong blue candle and I just happened to be at my computer. I don't usually trade that...

now that is what you call master class trading thanks phx62
  • #41,174
  • Sep 18, 2014 1:02pm Sep 18, 2014 1:02pm
Quoting Phx62
GJ trades that I have been in for 3 days, adding positions as it developed. A near perfect ABCD setup (see the H4 chart). All entries and monitoring was done on the H1 time frame (see H1 chart). Initial entry on a Pullback Candle Reversal Formation with the angle of the TDI up but not yet crossed. Entered based on the PCRF and the ABCD setup. Entry 2 on a LO continuation. When the LO candle broke above the previous candle, I entered. Entry 3 made following a strong blue candle and I just happened to be at my computer. I don't usually trade that...

Wow! 1082 pips in 2 days. You're the king with this system.
What does PCRF mean? And would you mind telling me what the indicator on the top left is (the M1 M5 M15, etc). Thanks.

PS. Thanks for the feedback Brath and Lastingwell.
  • #41,175
  • Sep 18, 2014 1:13pm Sep 18, 2014 1:13pm
Quoting Phx62
GJ trades that I have been in for 3 days, adding positions as it developed. A near perfect ABCD setup (see the H4 chart). All entries and monitoring was done on the H1 time frame (see H1 chart). Initial entry on a Pullback Candle Reversal Formation with the angle of the TDI up but not yet crossed. Entered based on the PCRF and the ABCD setup. Entry 2 on a LO continuation. When the LO candle broke above the previous candle, I entered. Entry 3 made following a strong blue candle and I just happened to be at my computer. I don't usually trade that...
  • #41,176
  • Sep 18, 2014 1:23pm Sep 18, 2014 1:23pm
Quoting Phx62
GJ trades that I have been in for 3 days, adding positions as it developed. A near perfect ABCD setup (see the H4 chart). All entries and monitoring was done on the H1 time frame (see H1 chart). Initial entry on a Pullback Candle Reversal Formation with the angle of the TDI up but not yet crossed. Entered based on the PCRF and the ABCD setup. Entry 2 on a LO continuation. When the LO candle broke above the previous candle, I entered. Entry 3 made following a strong blue candle and I just happened to be at my computer. I don't usually trade that...
incredible !
I call it big balls trading .
Never thought itīs possible to get such a large trend in perfection traded .

Guido
Risiko birgt immer auch die Chance.
  • #41,177
  • Sep 18, 2014 1:48pm Sep 18, 2014 1:48pm
Quoting Phx62
GJ trades that I have been in for 3 days, adding positions as it developed. A near perfect ABCD setup (see the H4 chart). All entries and monitoring was done on the H1 time frame (see H1 chart). Initial entry on a Pullback Candle Reversal Formation with the angle of the TDI up but not yet crossed. Entered based on the PCRF and the ABCD setup. Entry 2 on a LO continuation. When the LO candle broke above the previous candle, I entered. Entry 3 made following a strong blue candle and I just happened to be at my computer. I don't usually trade that...
Poetry in motion
  • #41,178
  • Sep 18, 2014 2:24pm Sep 18, 2014 2:24pm
Quoting Phx62
GJ trades that I have been in for 3 days, adding positions as it developed. A near perfect ABCD setup (see the H4 chart). All entries and monitoring was done on the H1 time frame (see H1 chart). Initial entry on a Pullback Candle Reversal Formation with the angle of the TDI up but not yet crossed. Entered based on the PCRF and the ABCD setup. Entry 2 on a LO continuation. When the LO candle broke above the previous candle, I entered. Entry 3 made following a strong blue candle and I just happened to be at my computer. I don't usually trade that...
That can lift my spirit , amazing, on these charts my mind always goes back to your book and see those trades
I Have Learned to Take Some Losses to Make Profits
  • #41,179
  • Sep 18, 2014 3:59pm Sep 18, 2014 3:59pm
Quoting Phx62
GJ trades that I have been in for 3 days, adding positions as it developed. A near perfect ABCD setup (see the H4 chart). All entries and monitoring was done on the H1 time frame (see H1 chart). Initial entry on a Pullback Candle Reversal Formation with the angle of the TDI up but not yet crossed. Entered based on the PCRF and the ABCD setup. Entry 2 on a LO continuation. When the LO candle broke above the previous candle, I entered. Entry 3 made following a strong blue candle and I just happened to be at my computer. I don't usually trade that...


amazing!!
  • #41,180
  • Sep 18, 2014 5:08pm Sep 18, 2014 5:08pm
Quoting Phx62
GJ trades that I have been in for 3 days, adding positions as it developed. A near perfect ABCD setup (see the H4 chart). All entries and monitoring was done on the H1 time frame (see H1 chart). Initial entry on a Pullback Candle Reversal Formation with the angle of the TDI up but not yet crossed. Entered based on the PCRF and the ABCD setup. Entry 2 on a LO continuation. When the LO candle broke above the previous candle, I entered. Entry 3 made following a strong blue candle and I just happened to be at my computer. I don't usually trade that...
Hi Phx

Amazing trades as always. I'm curious - how to you manage your stop loss in this case as you're targeting an ABCD exit? I know you previously stated that you would look to see if a candle closes in a different colour before "deciding" whether to exit, but do you continually move your stop loss to lock in profits or would you just leave it at BE until target is reached? Apologies if you've answered this question previously.
107 traders viewing now, 1 is registered:
hassan65