Trading Made Simple | Page 2203 | 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

  • #44,041
  • Nov 17, 2014 4:33am Nov 17, 2014 4:33am
Quoting lorbax
{quote} hello griffinssoul, please don't put your hopes on me haha... Whatever was the reason of your entry, once you realize you're on the wrong direction, JUMP-OUT immediately ! I suggest you not to enter in the mentality loop of saying "there is this support, that resistance, let's hope it will bounce off ... " because you could always find N+1 excuses to justify your decision, just check what you see on the PA ... is it going up or down? up-long , down-short ... that's the only thing that matters. Don't put the word 'hope' in your trading, A...
Thanks lorbax !!! So, as soon as the TDI cross breaks down and the HA candle changes color - get out of the trade as you are simply wrong, out! Thats a great approach you have because the good trades then have a chance to develop and profit. Many thanks! Hey, I knew I could count on you... lol

EDT: I'll be sure to read it ... thanks!
  • #44,042
  • Nov 17, 2014 4:35am Nov 17, 2014 4:35am
Quoting dennis4u15
hi omnisha Would u be kind enough to share ur round number indicator please...saw it on ur chart with grey coloured. Regards
Here
Attached File(s)
File Type: mq4 SweetSpotsGold.mq4   4 KB | 430 downloads
Sad i'm not trying to understand PA
  • #44,043
  • Nov 17, 2014 4:35am Nov 17, 2014 4:35am
thank you for your response emmanuel , you can calculate the two best corners
  • #44,044
  • Edited 6:53am Nov 17, 2014 4:40am | Edited 6:53am
Quoting griffinssoul
{quote} Thanks lorbax !!! So, as soon as the TDI cross breaks down and the HA candle changes color - get out of the trade as you are simply wrong, out! Thats a great approach you have because the good trades then have a chance to develop and profit. Many thanks! Hey, I knew I could count on you... lol
Well depends a bit on the approach you have, I almost only trade on H4, and when, after four hours i see that TDI changed back and color changed, then I jump out ... maybe it can lead to profits afterwards but I think maybe/shoulda/woulda/coulda ... it's all bullshitta to me ...if in that moment i see green switching back, i get out.

IMHO, it's better having a -20 closed and then you're free-minded to take a +20 rather than suffering from -20 and hoping to reach 0 with frustration ...

PS. It's really important to define if a losing trade it's a WRONG trade (you entered without all the good conditions met) or if it's a RIGHT trade which went into red. Keep in mind that TMS has an average profit % of 70-75%, but statistics are only valid with a good number of samples ... so if you take 100 trades probably your winning rate will be around 70-75 , but if you take 4 trades don't expect to be 3 win / 1 lose , numbers are too small.
There will be RIGHT losing trades, it's the nature of things, you can't avoid that - you can only push the odds in your favor.

If it's a WRONG trade, I jump out immediately, I don't even wait for the next candle, while if it's a RIGHT trade but going red, I'll try to give some space and time, like with girls .... I TRY ... not always succeed.
Lorenzo
  • #44,045
  • Nov 17, 2014 4:48am Nov 17, 2014 4:48am
Quoting lorbax
{quote} Well depends a bit on the approach you have, I almost only trade on H4, and when, after four hours i see that TDI changed back and color changed, then I jump out ... maybe it can lead to profits afterwards but I think maybe/shoulda/woulda/coulda ... it's all bullshitta to me ...if in that moment i see green switching back, i get out. IMHO, it's better having a -20 closed and then you're free-minded to take a +20 rather than suffering from -20 and hoping to reach 0 with frustration ...
LOL! Absolutely! I've chased down loses for days trying to BE and its just a waste of time and energy when you could be focusing on winning trades...!
  • #44,046
  • Nov 17, 2014 7:25am Nov 17, 2014 7:25am
Good morning Tms,

I wanted to show you a couple of "pin-bars" on the daily chart. Pin-bars
are very reliable price action set-ups.

Look at the last apb's on these charts, they are pin-bars. Then look
at the pac & tdi. Even tho the tdi isn't in the correct place yet, the
pin bars are giving you a early warning sign of the coming direction.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USDCHFDaily.png Size: 65 KB
Click to Enlarge Name: EURUSDDaily.png Size: 65 KB
  • #44,047
  • Nov 17, 2014 7:31am Nov 17, 2014 7:31am
Here is another pin-bar on the aud/usd.

What all these pin-bars are telling me is the market is starting to roll over.
And a change is in the wind...
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDDaily.png Size: 66 KB
  • #44,048
  • Nov 17, 2014 7:44am Nov 17, 2014 7:44am
Quoting snarlyjack
Here is another pin-bar on the aud/usd. What all these pin-bars are telling me is the market is starting to roll over. And a change is in the wind... {image}
Hi snarlyjack, thanks for that tip. Some Red News is coming up, ECB President Draghi Speaks, how do you deal with this - hang on or get out the way?
  • #44,049
  • Nov 17, 2014 7:49am Nov 17, 2014 7:49am
Good morning Griffinssoul,

I only trade 1 new's event. Which is non-farm payroll.
As in I won't trade before that news event.
Other than that I pay no attention to news.
  • #44,050
  • Nov 17, 2014 7:54am Nov 17, 2014 7:54am
Quoting snarlyjack
Good morning Griffinssoul, I only trade 1 new's event. Which is non-farm payroll. As in I won't trade before that news event. Other than that I pay no attention to news.
Thanks snarlyjack, thats helpful information. I really appreciate your time and effort mate!
  • #44,051
  • Nov 17, 2014 8:11am Nov 17, 2014 8:11am
A little afternoon M15 action only +33 pips, direwolf style
Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUDM15.png Size: 49 KB
  • #44,052
  • Nov 17, 2014 8:35am Nov 17, 2014 8:35am
Quoting WDays
A little afternoon M15 action only +33 pips, direwolf style {image}
A skillful trade WDays. Unlike my EG -36pips Can I blame the weather or news? BTW: everything was bullish on the higher TF's?
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 33 KB
  • #44,053
  • Nov 17, 2014 8:37am Nov 17, 2014 8:37am
Quoting WDays
A little afternoon M15 action only +33 pips, direwolf style {image}
I was in this trade too but using Lastingwell style Grab 40 pips as there was strong Resistance!
Attached Image (click to enlarge)
Click to Enlarge Name: GA 17.11.png Size: 31 KB
Give yourself a chance and trade it like it's layed out...
  • #44,054
  • Nov 17, 2014 8:38am Nov 17, 2014 8:38am
Quoting Bizzzle
{quote} I was in this trade too but using Lastingwell style Grab 40 pips as there was strong Resistance! {image}
I checked the higher timeframe TDis first, before I went in. Closed at 33 because of m15 harmonics, which I will not get into

Quoting griffinssoul
{quote} A skillful trade WDays. Unlike my EG -36pips Can I blame the weather or news? BTW: everything was bullish on the higher TF's? {image}
Thanks. It happens, next time you'll get +62...


I had one bad session last week, then I had to take time off charts because I had other engagements. I also decided I'd cut down on my Forexfactory time, since i find it distracts/screws with my head a little. I will try to post trades still...
  • #44,055
  • Nov 17, 2014 8:53am Nov 17, 2014 8:53am
GU H1 Sell Trade

Took this sell trade on GU at work on my 1st break at LO candle (I was already 20 pips late) .

Reason for entry :
1. Previous 2 strong bearish candles
2. PA going into support area
3. PA travelling away from daily open (white horizontal line)
4. Strong TDI Green and Red line crosses below 50 whereas MBL is already below 50

Using CM 40 pips was my 1st target which fell short and had to close the trade on my next break when PA pulled back.

Overall 15.9 pips for the start of the week.
Attached Image (click to enlarge)
Click to Enlarge Name: GU H1 Trade Sell.png Size: 179 KB


Kindest regards
  • #44,056
  • Nov 17, 2014 8:59am Nov 17, 2014 8:59am
MrAussie FX,

If you look at my daily chart gbp/usd.
It should touch the bottom s/r line.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDDaily.png Size: 64 KB
  • #44,057
  • Nov 17, 2014 9:03am Nov 17, 2014 9:03am
Quoting MrAussieFX
GU H1 Sell Trade Took this sell trade on GU at work on my 1st break at LO candle (I was already 20 pips late) . Reason for entry : 1. Previous 2 strong bearish candles 2. PA going into support area 3. PA travelling away from daily open (white horizontal line) 4. Strong TDI Green and Red line crosses below 50 whereas MBL is already below 50 Using CM 40 pips was my 1st target which fell short and had to close the trade on my next break when PA pulled back. Overall 15.9 pips for the start of the week. {image} Kindest regards
Good call MrAussieFX: I took that - currently @ 30pips... It was in the high 30's so 40pip TP sounds spot-on...
  • #44,058
  • Nov 17, 2014 9:12am Nov 17, 2014 9:12am
Quoting griffinssoul
{quote} Good call MrAussieFX: I took that - currently @ 30pips...
Nice trading GS,

@ SJ, I believe your broker is not using NY close data feed, I may be wrong but your daily chart have 5 bearish candles whereas my chart have 4 bearish candles. I may be wrong. See the attachment, I don't have active support printed on my daily chart yet.

Attached Image (click to enlarge)
Click to Enlarge Name: GU Daily NY close.png Size: 175 KB


Kindest regards
  • #44,059
  • Nov 17, 2014 9:23am Nov 17, 2014 9:23am
Did anyone take this... UJ 1H TF currently +40pips... higher TFs all looked bullish... had a nice bounce halfway along... (the dashed treadlines are from the 4H chart)
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 37 KB
  • #44,060
  • Nov 17, 2014 9:34am Nov 17, 2014 9:34am
Thanks MrAussieFX,

You have good eyes!

When FXCM switched their commission schedule, my platform switched from
5 day charts to 6 day charts. I just called FXCM and they are ready to
set-up the 5 day charts with the new commission schedule. FXCM said
the platform change takes about a day.
78 traders viewing now