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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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Trading Made Simple

  • #43,321
  • Nov 6, 2014 4:52am Nov 6, 2014 4:52am
Quoting Sesamstrasse
{quote} Depends on the pairs you trade, GA is moving good. And the decisions of the UK bank rate and the ECB will not make the markets slow. More difficult will be to find a good setup during the volatility without getting stopped out or faked . Guido
I had shorts on EA and GA, taken out at breakeven on GA because I rushed to lock breakeven after only 15 pips of profit before HIN EA I took a 10 pip loss on, after it ranged for a very long time. No damage done, but lost so much time with it that it could have at least paid for some of my time
  • #43,322
  • Nov 6, 2014 5:01am Nov 6, 2014 5:01am
my shorts on GA +50 (was late and tried to bargain ), EA -4 (no where near perfect set up), well it did reach 30pips then playing since
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Appreciation is the key to wealth and happiness
  • #43,323
  • Nov 6, 2014 5:32am Nov 6, 2014 5:32am
Quoting Esosa
{quote} Thanks Elder. Is there a way i can put the arrows on the tdi window to tha main chart just like yours? It will be nice if the arrows is on the main chart. Help will be appreciated deeply.

Hi Esosa,

That indicator which prints he TDI cross arrows ons the price chart is in post#18,878.
Read that post carefully.
http://www.forexfactory.com/showthre...42#post6664442

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #43,324
  • Edited 5:51am Nov 6, 2014 5:37am | Edited 5:51am
EURCAD 6 Nov H1 trade LO.

Attached Image (click to enlarge)
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Looking at the small H1 APB/HA candle they look like H4 Blue coloured APBs.
The setup is H1 Inside Bar with TDI confirmation.
PA wise, suppprt at 200EMA also Day 10EMA.
Trade away from the Day Open.
Today' Day Open is also yesterday Day Close.
Use the Day OHLC as natural support and resistance.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #43,325
  • Nov 6, 2014 5:47am Nov 6, 2014 5:47am
Quoting Sesamstrasse
{quote} Hey emmanuel , I´ve got a question : I ´, in the same trade , but I took my signal from my H4 chart .. In H4 I use the original template , BIG E posted in the beginning of the thread . I also have in mind : Candlecolour change first or second candle , when TDI crosses. But your entry in H1 is the third candle , you entered . I just thought the first two are acceptable , third or more look for another signal . I readed the explanation in the chart .. but third candle is third candle or not ? Could you please explain , did I overread something...

Hi Guido,

You are correct that my entry was on the 3rd H1 APB candle.
Big E H4 trading rule is to use only the 1st and 2nd APB candles only. His trade entry on H4 is very aggresive because he scalp the H4 TDI cross which is seen as counter trend and that are usually reversal trades. But he is very sharp to see market consolidation and catch the reversals.

On my H1 chart, that H1 candle where is entered in actually a Fib38/50 rectracement entry. At that time of my trade, I look back at the last 10 candles and they are llarge candles which means the ATR(10) would be 105pips. If I had enter at candle#2 close, my initial SL would be pips away also where the recent swing high is. A Fib38/50 entry saved me 25 pips and I can have a bigger position size.

Note also that entry candle is also the last H1 candle which will close that H4 candle. I saw that a H4 potential all in one chart. seeing this, my entry is actually APB#1 on H4.

Hope this explains.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #43,326
  • Nov 6, 2014 6:05am Nov 6, 2014 6:05am
Quoting emmanuel7788
{quote} Hi Guido, You are correct that my entry was on the 3rd H1 APB candle. Big E H4 trading rule is to use only the 1st and 2nd APB candles only. His trade entry on H4 is very aggresive because he scalp the H4 TDI cross which is seen as counter trend and that are usually reversal trades. But he is very sharp to see market consolidation and catch the reversals. On my H1 chart, that H1 candle where is entered in actually a Fib38/50 rectracement entry. At that time of my trade, I look back at the last 10 candles and they are llarge candles which...
I basically wanted to ask you the same..
so, to sum up, on H4 is more important to enter #1 and #2, while on H1 it can be let's say #3 or #4 if there is enough strenght as it is anyway the #1 on H4 ... does it make sense this way ?
Lorenzo
  • #43,327
  • Nov 6, 2014 6:14am Nov 6, 2014 6:14am
Quoting lorbax
{quote} I basically wanted to ask you the same.. so, to sum up, on H4 is more important to enter #1 and #2, while on H1 it can be let's say #3 or #4 if there is enough strenght as it is anyway the #1 on H4 ... does it make sense this way ?
It all depends on the market you're trading. If you're in let's say 50 pip range consolidating market, you don't want to enter too late, whereas if you're in a trending market it's okay to enter on candle 5,6 and so on so long as you've got momentum behind your trade..

APB candles' size can help you in such a case, if it's small bodied candles, you don't want to enter after candle #3...
  • #43,328
  • Nov 6, 2014 6:20am Nov 6, 2014 6:20am
Quoting WDays
{quote} It all depends on the market you're trading. If you're in let's say 50 pip range consolidating market, you don't want to enter too late, whereas if you're in a trending market it's okay to enter on candle 5,6 and so on so long as you've got momentum behind your trade.. APB candles' size can help you in such a case, if it's small bodied candles, you don't want to enter after candle #3...
Ok, this is quite clear ... and I agree with you!
Thanks!
Lorenzo
  • #43,329
  • Nov 6, 2014 6:27am Nov 6, 2014 6:27am
Quoting lorbax
{quote} Ok, this is quite clear ... and I agree with you! Thanks!
That being said I can't emphasize enough that it doesn't matter what timeframe you're on. You've heard it before probably, that there's a trend on every timeframe out there... The same principles apply on every tf.
  • #43,330
  • Nov 6, 2014 7:04am Nov 6, 2014 7:04am
AJ ... interesting consolidation triangle setup ... ready to boom ?

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Lorenzo
  • #43,331
  • Nov 6, 2014 7:11am Nov 6, 2014 7:11am
Quoting WDays
{quote} That being said I can't emphasize enough that it doesn't matter what timeframe you're on. You've heard it before probably, that there's a trend on every timeframe out there... The same principles apply on every tf.
Thanks for your tips
Lorenzo
  • #43,332
  • Nov 6, 2014 7:50am Nov 6, 2014 7:50am
Hey Everyone,

When I started making money...

I live in the western part of the USA (Montana). London open is 1:00 a.m. my time. I used to try to
stay up all night and trade the markets but I just could not stay up...

So I switched to the daily & 4 hour charts. I put on my trade, shut down the computer and
went to sleep. Guess what, I started making money. After awhile the light switch turned on
and I thought to myself what a good way to trade. Less stress, no more watching the charts
until my eye's bleed. I hate to watch the charts.

Now, I don't watch the charts. If I'm trading off of the 4 hour chart, I'll place the trade and
come back in 4 hours and check the candle and the levels. Then I'll make a decision on what
I'm going to do...

The point I'm trying to make is: This system is boring! But, this system if you do it right
is very profitable. In my mind the real question becomes: Do you want to make a lot of money
or do you want tons of excitement? That question will determine how you will trade.

After you determine how your going to do trade then it become a % (probability) game...
Are the odds 50/50. 70/30, 80/20? Everyone is different, you need to figure out your %'s...

Trade smart...and have a good day.

sj
  • #43,333
  • Nov 6, 2014 8:09am Nov 6, 2014 8:09am
EURJPY, just entered short @15.00 (GMT+2) ...both H1 and H4 agrees...

Opinions? anyone on the same ride ? (so I share the guilt ahha)

H1
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H4
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cheers
Lorenzo
  • #43,334
  • Nov 6, 2014 8:14am Nov 6, 2014 8:14am
Quoting snarlyjack
Hey Everyone, When I started making money... I live in the western part of the USA (Montana). London open is 1:00 a.m. my time. I used to try to stay up all night and trade the markets but I just could not stay up... So I switched to the daily & 4 hour charts. I put on my trade, shut down the computer and went to sleep. Guess what, I started making money. After awhile the light switch turned on and I thought to myself what a good way to trade. Less stress, no more watching the charts until my eye's bleed. I hate to watch the charts. Now, I don't...
Luminating!
I really appreciated your insight - have a nice day
Lorenzo
  • #43,335
  • Nov 6, 2014 8:18am Nov 6, 2014 8:18am
Quoting snarlyjack
Hey Everyone, When I started making money... I live in the western part of the USA (Montana). London open is 1:00 a.m. my time. I used to try to stay up all night and trade the markets but I just could not stay up... So I switched to the daily & 4 hour charts. I put on my trade, shut down the computer and went to sleep. Guess what, I started making money. After awhile the light switch turned on and I thought to myself what a good way to trade. Less stress, no more watching the charts until my eye's bleed. I hate to watch the charts. Now, I don't...
Sounds like a low stress plan. I am curious what pairs you trade? I trade the 4 hour mostly NYO. LO is middle of the night for me also.
  • #43,336
  • Nov 6, 2014 8:27am Nov 6, 2014 8:27am
Quoting snarlyjack
Hey Everyone, When I started making money... I live in the western part of the USA (Montana). London open is 1:00 a.m. my time. I used to try to stay up all night and trade the markets but I just could not stay up... So I switched to the daily & 4 hour charts. I put on my trade, shut down the computer and went to sleep. Guess what, I started making money. After awhile the light switch turned on and I thought to myself what a good way to trade. Less stress, no more watching the charts until my eye's bleed. I hate to watch the charts. Now, I don't...
Couldnt agree with you more!!!

A lot of ppl here really don't understand what the thread creater eelfranz was doing here... He warned about over complicating with multi indicators and to keep it simple!

He advise us to trade the 4hour no lower, As he did! set and forget trades every 4 hours... I alway ask myself, if the 4 hour sl isn't much different from the hour and you will alway get more pip from the 4 hour, why are ppl still trading below the 4 hour???

Lastingwell way of trading is great Becoz it look at the 4 hour in the hourly TF....

Just a warning pick the right mentors for me it was eelfranz but there are people on this thread trying to over complicate this great system and if you actually do some homework you will find that they are not trading successfully!!

best of luck
Give yourself a chance and trade it like it's layed out...
  • #43,337
  • Nov 6, 2014 8:41am Nov 6, 2014 8:41am
Notreally,

I love "Fester" he was a great actor.

Ok...I trade 5 currency's (usd/chf, gbp/usd, eur/usd, aud/usd, usd/jpy) in that order.

What I do is what Eelfranz taught us. I start looking for trades on the daily chart at
about 9:00 p.m. my time. Then I'll drill down to the 4 hour chart. The 4 hour chart
time change is 9:00 p.m., 1:00 a.m., 5:00 a.m., 9:00 a.m. (my times).

I'll place the trades then go to bed. I'll get up and check the trades at 5:00 a.m.
but mostly I'll let it run until 9:00 a.m., then liquidate out (on the 4 hour). If I'm
trading the daily I'll check the chart at the end of the N/Y session (end of day).

You need to give your trades (1) room to breathe & (2) time to play out. In my mind
it's like a baseball game. You don't call the game in the middle of the game. You play
until the end of the game. The score is going to be all over the place. But at the
end of the innings hopefully you will win big time... this is where your % come in!

Hope this helped you!

sj
  • #43,338
  • Nov 6, 2014 8:44am Nov 6, 2014 8:44am
Regarding the recommended timeframe eelfranz would have traded the hourlies timezone permitted, (btw I have nothing against trading the 4hr and dailies).

Post 2236:

Our friends outside the USA....

I believe the London Session is the best sesson to trade... The only reason I trade it on the 4hr charts because that's my normal sleep time. I put my S/L at the previous swing hi or low... so if it swings up and down 30 pips let say... I'm unaware of it because I'm sleeping.

If my normal traing hours included the London Session I'd trade it on the 1hr charts. Then I'd trade the first couple of hours on the N.Y session on the 1hr charts too. Then I'd be off the charts until an hour or two before the London Session...

Put the odds in your favor for success... It's like looking for the best set ups only... odds in your favor again.
  • #43,339
  • Nov 6, 2014 9:04am Nov 6, 2014 9:04am
Quoting snarlyjack
Notreally, I love "Fester" he was a great actor. Ok...I trade 5 currency's (usd/chf, gbp/usd, eur/usd, aud/usd, usd/jpy) in that order. What I do is what Eelfranz taught us. I start looking for trades on the daily chart at about 9:00 p.m. my time. Then I'll drill down to the 4 hour chart. The 4 hour chart time change is 9:00 p.m., 1:00 a.m., 5:00 a.m., 9:00 a.m. (my times). I'll place the trades then go to bed. I'll get up and check the trades at 5:00 a.m. but mostly I'll let it run until 9:00 a.m., then liquidate out (on the 4 hour). If I'm trading...
SJ,

Gunsmoke was cool, of course all the old stuff from B&W days I liked. Guess that shows my age.

That is one problem I had lately was setting my stops to tight. I notice they would get hit and then move in my direction. Going to change that.
Thanks
  • #43,340
  • Nov 6, 2014 9:22am Nov 6, 2014 9:22am
Alexandros,

Nice meeting you!

Their must be 100 different ways to skin a cat.

But what is important is, what works best for you.

In my mind the least amount of stress & making the most amount money
is best for me. If I could trade the London market on the 1 hour charts
I would definitely think about trading the 1 hour charts...

Also, the larger the time frame the more accurate the signals. The 4 hour tdi
signals are far superior to the 15 minute tdi signals. The daily tdi signals
are superior to the 4 hour tdi signals. The daily tdi signals are the most accurate.

sj
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