Trading Made Simple | Page 2535 | 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

  • #50,681
  • Jan 21, 2015 10:36am Jan 21, 2015 10:36am
Quoting mordin
Does anybody know wtf happened just now? I can't relate it to news, but I'm curious why the market made this movement, I lost half pips of profit, and even nearly got stop out with small loss! I know it is not forex, but look at the SP500 1H {image} This movement was mirrored even in several europe markets. This is IBEX35 on 1H {image} Edit: Besides this, I was short on AUD/CAD, USD/CAD and I got stop out . Just because I did not waited until TDI cross, but seeing price action (small bullish candles and reduced momentum) I thought it was going...

EURAUD..I also don't know.. took me out for -70
Attached Image (click to enlarge)
Click to Enlarge Name: 2015-01-21_22-33-17EURAUD.png Size: 33 KB
Sad i'm not trying to understand PA
  • #50,682
  • Jan 21, 2015 10:46am Jan 21, 2015 10:46am
"Monthly propose reaching € 50 billion asset purchase program, the ECB Governing Council of the Central Bank Governing Council - leaked on the Dow Jones this afternoon, a day before the announcement."
  • #50,683
  • Jan 21, 2015 10:51am Jan 21, 2015 10:51am
Today's results

EURAUD Short +45 green Tdi cross below pac and guppys
EURAUD Long + 145 Green (200 sma was target) Tdi bounce above pac and guppys
AUDUSD Long BE +1 Kicking my self for not getting in on the short, But thats life I guess.

Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD.PNG Size: 44 KB
Intelligence is the ability to adapt to change. Stephen Hawking
  • #50,684
  • Jan 21, 2015 10:52am Jan 21, 2015 10:52am
Quoting omonisha
{quote} EURAUD..I also don't know.. took me out for -70 {image}
BOC lower interest rates.
CAD down, AUD and NZD down too.
  • #50,685
  • Jan 21, 2015 11:04am Jan 21, 2015 11:04am
Quoting likica
Both GA & GN shorts turned into nice profits
Intelligence is the ability to adapt to change. Stephen Hawking
  • #50,686
  • Jan 21, 2015 11:34am Jan 21, 2015 11:34am
What a beauty!!
Attached Image (click to enlarge)
Click to Enlarge Name: EURCADH4.png Size: 25 KB
  • #50,687
  • Jan 21, 2015 12:04pm Jan 21, 2015 12:04pm
Quoting nods80
Today's results EURAUD Short +45 green Tdi cross below pac and guppys EURAUD Long + 145 Green (200 sma was target) Tdi bounce above pac and guppys AUDUSD Long BE +1 Kicking my self for not getting in on the short, But thats life I guess. {image}
Great trades nods80 . I hope to get there too one day.
  • #50,688
  • Jan 21, 2015 12:15pm Jan 21, 2015 12:15pm
Finally decided to make an account after lurking for so long lol...This thread/system has taught me a lot so hopefully I can return the favor and contribute a bit.

My first bit of advice (which is probably old news for you experienced traders ) is to always look at the bigger picture/trend. My first few weeks/months of trading were really figuring out which time-frame I was most comfortable with and which one would be most convenient for my busy day. Trading 1H charts was profitable, however it required me to wake up every hour during the London Session which can really mess up your sleep especially if you're in EST time. I then resorted to the 4H chart, only placing trades at 1 am (EST) and checking again at 5 am, like eelfranz.

Again this was profitable, but I wanted to know why my winners were winners, and why my losers were losers. No matter what time frame I traded on, 1H or 4H, all my winning trades were heading in the same direction as the daily chart. Even when I wasn't really paying attention to the daily chart, I noticed my big winners were always following the daily chart trend as well.

The problem with trading like this (not so much a problem) is that the criteria for taking a trade becomes much more strict, and you do trade less, sometimes only 1 pair a night. Psychologically, this is a nightmare. You try to force trades, and see things that aren't really there. I remember I would check this forum every morning to see people making tons of pips and think to myself, "How am I not seeing the same opportunities." I ended up forcing things because I felt I was missing out.

To really master this style of trading I think you have to be satisfied with hitting certain goals. If I make only 3 or 4 trades a week, but they are really strong trades and net me 300-400 pips for the week, I should be happy. Unfortunately, if I hit my 300-400 pip goal by Wednesday, I would still be tempted to trade Thursday and Friday.

Sorry if this is redundant. I know "trading with the trend" is nothing new, but this bit of advice was what really helped me become a more consistent and confident trader.
  • #50,689
  • Jan 21, 2015 12:56pm Jan 21, 2015 12:56pm
Quoting Sesamstrasse
{quote} And where is the TDI , the initial part of the entry and exits in this strategy ?? Nobody can see a reason why you entered . I believe you can do better posts . The reason to post here , should be a trade in the rules , to show others what worked / or what not worked .. For that case are the better experiented members here to " teach " the newbies and help them on the way to green pips. And the senior members do an incredible job with explanations how to do .

Hi Sesamstrasse;

You don't actually have to have the TDI your chart to know what it's doing.

The Green and Red lines on the TDI show the 2 Simple Moving Average/Close crossing the 7 Simple Moving Average/Close.

The only reason for having it separate is to make the Average Price Bars more easily visible.

The Market Base Line is a 34 Simple Moving Average, Buy when above Sell when below.

The 13 RSI is used to show when the market is "Oversold" or "Overbought".

Personally I get a better representation of what's happening by putting the Moving Averages on the chart and doing away with the RSI because I don't like Oscillators.
Attached Image (click to enlarge)
Click to Enlarge Name: 21st Jan 15 EUR:USD D1 Chart.png Size: 157 KB
  • #50,690
  • Jan 21, 2015 12:57pm Jan 21, 2015 12:57pm
Quoting clubdio
"Monthly propose reaching € 50 billion asset purchase program, the ECB Governing Council of the Central Bank Governing Council - leaked on the Dow Jones this afternoon, a day before the announcement."
Clubdio,

Nice meeting you & welcome to Tms.
Thanks for that information "news"... could be a
very interesting rest of the week

Welcome!
  • #50,691
  • Jan 21, 2015 12:59pm Jan 21, 2015 12:59pm
Quoting nods80
Today's results EURAUD Short +45 green Tdi cross below pac and guppys EURAUD Long + 145 Green (200 sma was target) Tdi bounce above pac and guppys AUDUSD Long BE +1 Kicking my self for not getting in on the short, But thats life I guess. {image}
Nods,

Congrat's on your trades!
Keep on trucking...their are going to be
more pips coming up
sj
  • #50,692
  • Jan 21, 2015 1:01pm Jan 21, 2015 1:01pm
Quoting csethna
What a beauty!! {image}
Csethna,

Perfect!
Feel's good doesn't it
sj
  • #50,693
  • Jan 21, 2015 1:02pm Jan 21, 2015 1:02pm
Quoting wyley187
{quote} I just switched platforms and thought it was my own stupidity why it wasn't working....let me know if you come up with a fix because I would really like it to work, pretty much for the same reasons you said!
Hi wyley187 - I think/hope I've found the fix for the SynPro MTF (arrows indi) It seems you have to load all the synpro indi's into your indicator file even if you do not need/use them all.

It also makes the SynPro trade alert work as well.

Try it and see....

Ray
Attached File(s)
File Type: zip SynergyPro.zip   2.4 MB | 915 downloads
  • #50,694
  • Jan 21, 2015 1:02pm Jan 21, 2015 1:02pm
Quoting toledoFX
{quote} Great trade mate! Sad i missed EA today. Really nice moves. Always watch your charts with big interest, our entries are often very similar, and i like your MM also. Had the same notice, that there is no need to put SL bigger than 25-30 pips when trading LO on EA. So that's the good way to minimize your losses.
Thanks Toledo! Nice catch from you on GA too! Looks like your exit was near perfect

Using 25 pip SL and 50 pip TP gives good results around LO on EA H1 at the moment. I'm currently demoing, but when I'm ready to go live, I'd be risking 2% of my account per 25 pip SL making today's win worth 4%. Typically I've found an average week gives 2 wins and 2-3 BE's giving around 8% per week! Hopefully this result will improve with time as I become more proficient. Also taking some pointers from Emmanuel about tweaking my MM strategy at the moment so watch this space...

Be wary about ECB tomorrow following last weeks chaos. As SJ pointed out the reaction could cause a change in trend, and in the last few hours EA H1 has closed above the 200EMA...

All the best!

Ballistical
Focus on the process and the profits will follow
  • #50,695
  • Jan 21, 2015 1:11pm Jan 21, 2015 1:11pm
Quoting rnsfrd
Finally decided to make an account after lurking for so long lol...This thread/system has taught me a lot so hopefully I can return the favor and contribute a bit. My first bit of advice (which is probably old news for you experienced traders ) is to always look at the bigger picture/trend. My first few weeks/months of trading were really figuring out which time-frame I was most comfortable with and which one would be most convenient for my busy day. Trading 1H charts was profitable, however it required me to wake up every hour during the London...
Rnsfrd,

Welcome to Tms!

I would say so far we are looking at the same things.
Because I live on the west coast trading the L/O is a problem.
I found that I do a lot of my trades on the daily. (1) I trust the
daily & (2) it's very accurate (3) come to find out very profitable.

Just keep doing what your doing (try the daily) and do it everyday.
Regardless of the # of pips. I just kinda go for it & do the best I can.
And let the chips fall where the chips fall. At the end of the month
I'm always profitable...

Once again welcome.

sj
  • #50,696
  • Jan 21, 2015 1:17pm Jan 21, 2015 1:17pm
Quoting snarlyjack
{quote} Rnsfrd, Welcome to Tms! I would say so far we are looking at the same things. Because I live on the west coast trading the L/O is a problem. I found that I do a lot of my trades on the daily. (1) I trust the daily & (2) it's very accurate (3) come to find out very profitable. Just keep doing what your doing (try the daily) and do it everyday. Regardless of the # of pips. I just kinda go for it & do the best I can. And let the chips fall where the chips fall. At the end of the month I'm always profitable... Once again welcome. sj
SJ,

With your Daily chart trades, are you using S&R for stop losses and targets kinda of a set and forget? I ask because I usually trade lower t/f's M15 and M30 and watch closely.......

Regards,
Cigarguy
Keep It Simple
  • #50,697
  • Jan 21, 2015 1:20pm Jan 21, 2015 1:20pm
I wanted to give a try to the guppy, and I downloaded a couple of indicators, "GMMA Short" and "GMMA Long". Which one should I use? I mostly trade 4H, perhaps daily in the future.
Had to be me. Someone else might have gotten it wrong.
  • #50,698
  • Edited 1:36pm Jan 21, 2015 1:23pm | Edited 1:36pm
Quoting mordin
I wanted to give a try to the guppy, and I downloaded a couple of indicators, "GMMA Short" and "GMMA Long". Which one should I use? I mostly trade 4H, perhaps daily in the future.
mordin,
I think most use Long GMMA's I personally use both. Whatever works for you.....

Regards,
Cigarguy
Attached Image (click to enlarge)
Click to Enlarge Name: AUDJPYiDaily.png Size: 85 KB
Keep It Simple
  • #50,699
  • Jan 21, 2015 1:24pm Jan 21, 2015 1:24pm
Quoting stevepatt
{quote} Hi Sesamstrasse; You don't actually have to have the TDI your chart to know what it's doing. The Green and Red lines on the TDI show the 2 Simple Moving Average/Close crossing the 7 Simple Moving Average/Close. The only reason for having it separate is to make the Average Price Bars more easily visible. The Market Base Line is a 34 Simple Moving Average, Buy when above Sell when below. The 13 RSI is used to show when the market is "Oversold" or "Overbought". Personally I get a better representation of what's happening by putting the Moving...
Steve,

I thought that was interesting!

It's been a long time since I've looked at the Tdi & chart
like that. You are 100% correct.

Imho, price action is #1 & Tms is #2. However, if you blend the
best of both together you can design a super good/accurate system

You are correct that price action is good...

sj
  • #50,700
  • Jan 21, 2015 1:29pm Jan 21, 2015 1:29pm
A day turned from good to bad and what stopped it from becoming WORST...

My GA trade in Tokyo session gave me some positive results and I wanted to trade the same pair in NY session (after work) as I wasn't expecting any news for both the currencies.

GA daily break of Trend line
Attached Image (click to enlarge)
Click to Enlarge Name: GA Daily.png Size: 266 KB


GA H4 trade taken on this TF
Attached Image (click to enlarge)
Click to Enlarge Name: GA H4 sell trade loss.png Size: 285 KB


GA H1
Attached Image (click to enlarge)
Click to Enlarge Name: GA H1sell trade loss.png Size: 275 KB


The above losing trade shows the significance of using StopLoss on your trades...

What if I hadn't used the SL ?
Multiply -300 pips (from initial entry) to your lot size you trade on this pair and see if it can significantly hurt your account.

How could I have avoided the -ve results ?
1. Staying away from trading NY session
2. DOTS wouldn't either helped as the sell targets were never hit on H1 and there was no DOTS sell entry on H4

Takeaway
Always use Stoploss when you are not monitoring your trades.

I would love to hear your ideas (especially Emmanuel) on how could cavemanager had handled such a situation...

Kindest Regards
204 traders viewing now