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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

  • #43,381
  • Nov 7, 2014 2:58am Nov 7, 2014 2:58am
All aboard the piptrain, let's see where it takes me
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  • #43,382
  • Nov 7, 2014 3:06am Nov 7, 2014 3:06am
I think Master Candle EA H4
  • #43,383
  • Nov 7, 2014 3:34am Nov 7, 2014 3:34am
Took GBP/AUD short this morning. Thought not to trade today before NFP, but couldn't stay away from such beautiful entry. Breakout of yesterday's low + perfect TDI cross with bounce off MBL and 50 level. Very nice and clear setup. Took only +30pips, but could got all 50 i guess if were more disciplined. Decided not to be greedy on friday, that's ok.
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  • #43,384
  • Nov 7, 2014 3:35am Nov 7, 2014 3:35am
Quoting Bizzzle
{quote} First time seeing you here, but I think you missed the point I am trying to make, have you Back-tested the hourly compared to the 4 hour? have you see the R:R on both? Which do you believe is better??
Hi Bizzle, please don't take my comment the wrong way, I am not trying to put you down or anything similar. I myself prefer the longer timeframes (4hr, dailies) and I am now in the process of backtesting the hourlies on EU.

I was trying to show that Eelfranz would actually trade the hourlies succesfully, nothing more.

In my opinion if you have a pip value that is more than, let's say 10$/pip, then by cherry picking your entries in the hourlies you can actually get a decent return even by using fixed targets (in the 10-20 pips range) and not expose yourself too much in the market.

As soon as I am done with my backtesting I will post my results here.
  • #43,385
  • Nov 7, 2014 3:38am Nov 7, 2014 3:38am
Quoting emmanuel7788
{quote} Hi allstate, That DodgerBlue line is the Day Open of each new day. With that Day Open line on my H1 chart, I can see where the previous day close and the new day open. Usually, there is no gap between previous day close and the new day open. Using that Day Open line, it is easy to see if the previous days was bearish or bullish. In many cases, when the previous day was bullish close, I look at the price action and the colour nof the APB/HA and the TDI. The high probability is to trade the continuation of the previous day(s) on H1 and H4....

Thank you for the prompt reply! =)
  • #43,386
  • Nov 7, 2014 4:26am Nov 7, 2014 4:26am
Still running... Waited longer to lock breakeven this time, with GBP news (however weak impact they had). I'm trailing and locking 50 pips once price is at the hourly 200EMA Oh yeah, and I'll close manually before NFP if it hasn't reached target yet..
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  • #43,387
  • Nov 7, 2014 4:41am Nov 7, 2014 4:41am
Quoting WDays
{quote} I don't like breakouts too much, but generally the idea is I combine trendlines (or other structures) with a good TMS signal. I'd take a breakout trade when I get a candle in the direction I'm trading that breaks above/below and closes above/below and has a good TDI cross. Not much philosophy behind it, as you know I don't like to trade all the weird harmonic patterns (besides ABCD) so I don't put in nearly as much thought into my trading Congratulations on your GJ trade, by the way... You've gone a long way since our skype room sessions...
Been a long way, but getting tha grip finally, I see that you are doing great as well, so things are improving and in the right direction what matters really

Skype room is still intact, didnt check in today having a flue of seasons changes, congrats on your running trade, I like it and follow it, might generate good pips , good luck
I Have Learned to Take Some Losses to Make Profits
  • #43,388
  • Nov 7, 2014 4:44am Nov 7, 2014 4:44am
Quoting lastingwell
{quote}If you backtest and forward test you will find that in the vast majority of cases price will come back to test the breakout point, I would rather wait for that to happen and then go into the trade on a signal than go in on the breakout itself. Very very rarely will price go in one direction after the breakout and if it does then I pass until there is a pullback afterwards. That goes for trendlines, horizontal s/r or any other s/r you want to use.
I will set to see how these breakouts moves , I will start with Double Tops, Bottoms, Head and Shoulder , Trend lines, triangles will implement these into back-testing and learn how to apply that

Thanks
I Have Learned to Take Some Losses to Make Profits
  • #43,389
  • Nov 7, 2014 4:48am Nov 7, 2014 4:48am
Quoting TheScorpS
{quote} Been a long way, but getting tha grip finally, I see that you are doing great as well, so things are improving and in the right direction what matters really Skype room is still intact, didnt check in today having a flue of seasons changes, congrats on your running trade, I like it and follow it, might generate good pips , good luck
Yep, constant equity growth lately and that's all that matters
  • #43,390
  • Nov 7, 2014 5:28am Nov 7, 2014 5:28am
closed all trades.
+30 green from AU long
+30 green from EA short
+18 green from GA short (late from correct entry, so got in M5)
- struggled with GJ and EJ for -25 & BE
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Appreciation is the key to wealth and happiness
  • #43,391
  • Edited 5:45am Nov 7, 2014 5:34am | Edited 5:45am
Quoting robuk
I think Master Candle EA H4
Any comments , help , very much appreciated
My platform GMT 0
  • #43,392
  • Nov 7, 2014 5:36am Nov 7, 2014 5:36am
Liquidated the position, hope I did the right thing even though there's still time before NFP +53

Closing shop for the week with 140 pips...
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  • #43,393
  • Nov 7, 2014 8:37am Nov 7, 2014 8:37am
a short but very long...for +40green
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Appreciation is the key to wealth and happiness
  • #43,394
  • Nov 7, 2014 8:50am Nov 7, 2014 8:50am
USDTrader,

Good morning,

Thanks for your question regarding the "Guppy" system.

The guppy system for those not familiar with it, is a series of ema's that determine short term
& long term trend. The idea is to follow the trend & trade away from the short term guppy's.
The ema's are: 5,8,10,12,15 (short term) & 30,35,40,45,50,55,60 (long term). They are designed
to keep you in the trend and to show you where the market is going. Some people like the
guppy system, some people don't like it. Everyone is different.

I traded with the guppy system for a long time and I personally like it. A lot of price action traders
don't like it because they feel it covers up what some of the candles are saying. So like everything
their are pro's & con's to using it. Check it out and let me know what you think!

P.S. Welcome to all the new traders! We are trying to help you! It takes time to learn how to
trade. Enjoy the process and don't give up. That's the big secret...

sj
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  • #43,395
  • Nov 7, 2014 9:07am Nov 7, 2014 9:07am
GBPJPY
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Sad i'm not trying to understand PA
  • #43,396
  • Nov 7, 2014 9:26am Nov 7, 2014 9:26am
Quoting snarlyjack
Likica, Emmanuel, X-Man & myself have spent years & years trying to figure this out. After all this time I don't believe the market is random. I think the market can be timed & traded. The good news is, the more you trade, the more you learn. I have found the process very educational & interesting. I still learn something everyday! It's amazing to me that the market can hit a level and turn on a dime. When you watch it, you go wow...I can't believe it made that turn right their. How cool is that... By the way most traders get along pretty well....
I totally agree. the market is not random.
The market can be timed and traded. Certain things happens almost all all the time. day in day out.
Follow the big boys and you will make the money.
Once we learn to do this then trading will be the easiest thing under the sun
X-man the legendary conqueror of markets
  • #43,397
  • Nov 7, 2014 9:40am Nov 7, 2014 9:40am
Quoting snarlyjack
Likica, The art of anticipation... You have to get in tune with the overall market and how it is flowing. Then follow the flow. In the charts I provided the daily charts were in a downtrend. When I saw the price action on the 4 hour chart I could see that price was hugging the price action channel and I was looking for price to follow it down. Since the trend was down, I was anticipating a sell on the pullback into resistance . The price action channel was acting as resistance. The middle of the price action channel is the 10 ema. I trade more like...
Trading is definitely an art. thats why mechanical systems in my opinion will not work out in the forex market.
Learn to flow with the markets.
When we learn this flow we will realize how all is 1 and 1 is all.

we see different sections in forex trading. like abc or 123 , waves , S&R , demand & supply , fibbs. chart patterns , divergances etc.
here when we start we learn all this and we choose the ones we comfortable with and trade it then find systems based on these.

When we start to SEE how the markets start to flow and we are able to go with the flow we will see all these different sections become 1.
When you learn to flow with the market you will see everything in its true form and wont even realize you are trading fibbs or waves or 123 etc.
Thats when everything will start to work.
X-man the legendary conqueror of markets
  • #43,398
  • Edited 1:53pm Nov 7, 2014 1:36pm | Edited 1:53pm
Quoting snarlyjack
USDTrader, Good morning, Thanks for your question regarding the "Guppy" system. The guppy system for those not familiar with it, is a series of ema's that determine short term & long term trend. The idea is to follow the trend & trade away from the short term guppy's. The ema's are: 5,8,10,12,15 (short term) & 30,35,40,45,50,55,60 (long term). They are designed to keep you in the trend and to show you where the market is going. Some people like the guppy system, some people don't like it. Everyone is different. I traded with the guppy system for...
Hi snarlyjack, don't want to try to teach my grandma how to suck eggs but... your guppies pretty much obscure the price action. What I did was to make all the ma's single line thickness apart from the outer ma's of each band which I made double thickness ie 60 & 30 and 5 & 15. In addition I made these outer ma's different colours so 60 could be turquoise and 30 could be purple for example. Similar on the shorter ma's, maybe 15 yellow and 5 hot pink or whatever. This makes it much easier to see alligator mouths and when there is a crossover as trend changes. But I thought you'd pretty much given up with indicators to focus on pure price action.

As a matter of interest I first came across the guppy system in Daryl Guppy's book 'Trading the Trend' in the late eighties or early nineties. The book wasn't available in the UK at that time (computers maybe but no internet?) and I remember sending off to Australia to Dymocks bookstore in Sydney for it and waiting 3 weeks for it to arrive.
  • #43,399
  • Nov 7, 2014 2:34pm Nov 7, 2014 2:34pm
Tanglewood,

Nice speaking with you again!

I agree with everything you just said!
Would you post up a picture of your set-up?

I like price action and I consider myself a price action trader!
Imho, the three most important things to trading is:
1). price action
2). levels
3). maybe 1 indicator. The tdi is as good as any indicator out their & better than most...

The reason I made the guppy stand out is so people could see it better.
But, I agree with everything you said!

Have a good weekend everyone

sj
  • #43,400
  • Nov 7, 2014 3:04pm Nov 7, 2014 3:04pm
Quoting snarlyjack
Tanglewood, Nice speaking with you again! I agree with everything you just said! Would you post up a picture of your set-up? I like price action and I consider myself a price action trader! Imho, the three most important things to trading is: 1). price action 2). levels 3). maybe 1 indicator. The tdi is as good as any indicator out their & better than most... The reason I made the guppy stand out is so people could see it better. But, I agree with everything you said! Have a good weekend everyone sj
Hi SJ, I'll gladly post my chart set-up but tomorrow if that's OK, I'm off to watch TV now (9pm UK). Like you I'm focusing more these days on price action, but particularly more and more on levels. I agree the TDI is one I wouldn't like to be without, just got so used to it by now and thanks to Dean Malone for creating it. My set-up is pretty much Synergy Pro with the long term guppies for direction. I use the synergy pac instead of the shorter term guppies but just a matter of preference. Have a good week-end SJ.
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