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Trading Made Simple

  • #53,301
  • Feb 14, 2015 2:24pm Feb 14, 2015 2:24pm
Quoting firas1980
hi snarlyjack i want to ask you about dots levles show on 15m on your chart but in my chart not show becasue not enough bar. i follow dean malone steps but still same thing . thank you

You need enough price history for DOTS to calculate the ADR.

Try this: https://www.mql5.com/en/code/9672?ut...minal+codebase
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #53,302
  • Feb 14, 2015 2:43pm Feb 14, 2015 2:43pm
Quoting snarlyjack
Emmanuel, Question. You trade all the different time frames. Which time frame do you like the best? Which time frame do you find it easiest to profit from? The reason I ask is I'm thinking of getting up really early (my time) & trading the 30 minute tf. I just wanted to get your thoughts on this idea! Thanks. sj

Hi SJ,

Now to answer which timeframe I like to trade best. It is the D chart TF and I trade that with a disciplned money management strategy.
I had a slow start in Jan after my long year end vacation. As usual, being away from the market, I lost touch with the movements. But in Feb, I managed to get back into the rhythm with the market and managed achieved my first 10% profit cycle in 10 trading days. I risk between 1% and 2% per currency pair and only open each trade with 0.2% risk, then scale-in more trades with same 0.2% risk as the trend continues. In instances when I have booked in profits, I increased my risk to 0.5% per trade but still within my 2% max.

Below is a screen shot of myFxbook for Jan and Feb (till 13 Feb).

Attached Image (click to enlarge)
Click to Enlarge Name: myfxbook week 02 to 13 Feb(Pips).png Size: 27 KB


This week I added NZDUSD as I see potential in the coming days. I dropped AUDUSD since Kiwi has a wider trading range.
Also added EURJPY to my D chart trading.

Trading the D chart gives me more time to do other things during the day. I only need to login to my VPS and check once a day at minimum. I can also check my H1 and H4 charts at any time during the day and decide on closing some trades and / or open new ones. It is so relaxing to have a life while I am trading the D charts.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #53,303
  • Feb 14, 2015 2:55pm Feb 14, 2015 2:55pm
GBPNZD D chart trading for next week 08.
Current market type is sideways wide range,... good for TMS 5-Method.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPNZD D chart for week 08.png Size: 75 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #53,304
  • Feb 14, 2015 3:04pm Feb 14, 2015 3:04pm
Kiwi show some early sign of increase market interest and breaking out of the range.

Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSD D chart for week 08.png Size: 67 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #53,305
  • Feb 14, 2015 3:11pm Feb 14, 2015 3:11pm
Quoting emmanuel7788
{quote} Hi SJ, Now to answer which timeframe I like to trade best. It is the D chart TF and I trade that with a disciplned money management strategy. I had a slow start in Jan after my long year end vacation. As usual, being away from the market, I lost touch with the movements. But in Feb, I managed to get back into the rhythm with the market and managed achieved my first 10% profit cycle in 10 trading days. I risk between 1% and 2% per currency pair and only open each trade with 0.2% risk, then scale-in more trades with same 0.2% risk as the trend...


I'm sorry, but would you clarify this for me....? You're up 4820 pips for the month of February, in which there have been 10 trading days thus far... which means you've averaged 482 pips per day. Correct....????

Please, drag / drop some trades from your account history tab onto you their respective charts, and post those charts.
  • #53,306
  • Feb 14, 2015 4:01pm Feb 14, 2015 4:01pm
Quoting Landline
{quote} Hi Emm Thanks for your help....I think that will work, I've just got to familiarise myself with Chrome now, but I'll hopefully be able to post a test chart on here shortly just to check and confirm that its been fixed. Thank you for your help its appreciated
Hopefully this test chart now posts at last using Chrome browser as recommended by Emm
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDH4.png Size: 32 KB
  • #53,307
  • Feb 14, 2015 4:06pm Feb 14, 2015 4:06pm
Quoting Landline
{quote} Hopefully this test chart now posts at last using Chrome browser as recommended by Emm {image}

Hi landline,

If you squint this looks 3D! Just out of interest can you explain the template?
Intelligence is the ability to adapt to change. Stephen Hawking
  • #53,308
  • Feb 14, 2015 4:14pm Feb 14, 2015 4:14pm
Quoting sknight1
{quote} I'm sorry, but would you clarify this for me....? You're up 4820 pips for the month of February, in which there have been 10 trading days thus far... which means you've averaged 482 pips per day. Correct....???? Please, drag / drop some trades from your account history tab onto you their respective charts, and post those charts.
You have to bear this in mind, pip count means nothing when you constantly open and close trades, if you take into consideration by his own figures he is up 10% with that 4800 pips, an average of 480 pips needed to make 1% that will help you to understand the type of trading done.
  • #53,309
  • Feb 14, 2015 4:35pm Feb 14, 2015 4:35pm
Quoting emmanuel7788
{quote} Thanks SJ for your EURUSD charts. The DOTS levels are based on recent ADR and is rather conservatively calculated. I do find the levels are easily reached on most intraday trading when we observe how price move after the day open. I think the combine use of the DOTS calculated levels with the SM_ADR Marker which is dynamic during the day would be better. Anyway, I see something big with EU pair. regards,
What settings is everyone using for the Sm_ADR Marker?
The current settings for the ATR period is 14.
Thanks,
sj
  • #53,310
  • Feb 14, 2015 4:38pm Feb 14, 2015 4:38pm
Quoting nods80
{quote} Hi landline, If you squint this looks 3D! Just out of interest can you explain the template?
Hi nods

I've got used to it now. I don't need candles I only need to know the high and low price. The thick red and green are advanced by one 1 MAs and the thins are both 1 MAs, both effectively giving me the only information concerning price that my strategy needs. The red and green dots (super signal channel indi) gives me the heads up in which direction price will likely be going once I get the thick and thin MA cross. The arrows are TMS osc crosses, not really necessary tbh but they comfort me lol

The lower window is self explanatory and confirms signals from the upper window, Thats about it really
  • #53,311
  • Feb 14, 2015 4:54pm Feb 14, 2015 4:54pm
Quoting Landline
{quote} Hi nods I've got used to it now. I don't need candles I only need to know the high and low price. The thick red and green are advanced by one 1 MAs and the thins are both 1 MAs, both effectively giving me the only information concerning price that my strategy needs. The red and green dots (super signal channel indi) gives me the heads up in which direction price will likely be going once I get the thick and thin MA cross. The arrows are TMS osc crosses, not really necessary tbh but they comfort me lol The lower window is self explanatory...
Looks neat and looking at the screen shot seems pretty accurate.
Intelligence is the ability to adapt to change. Stephen Hawking
  • #53,312
  • Feb 14, 2015 5:31pm Feb 14, 2015 5:31pm
Quoting nods80
{quote} Looks neat and looking at the screen shot seems pretty accurate.
I've been using this amended method productively since just before Christmas, when it occurred to me what use are the candles to me when all I'm interested in is what the high and low price for any given period of time is. I don't factor candle shapes into my strategy so decided I didn;t need them, leaving me with a relatively barren chart, yet still containing the crucial information that I required without unnecessary chart distractions. It works for me anyway
  • #53,313
  • Feb 14, 2015 7:13pm Feb 14, 2015 7:13pm
Hi everyone,

I've been reading this thread since the start, I'm at page 30 and post 500.

I've been trying to trade this system and getting pretty mixed results. Certainly nothing like people are reporting in the thread back then.
Now I fast forward to now and see that everyone is trading it differently to how it was in 2011. I hardly see any 4hour charts and I see more indicators used.

Why has there been a shift in how it is done? Is there are post in the last year that sums up why you guys are trading it as you are now?

It seems most people are using m30 and h1 charts.

It's frustrating to see trade setups on the 4hr chart that match what is expected, only for it to move against you by a large portion, over and over. Right now I'm probably only a little bit ahead. That is with a stack of lucky BE trades. My accuracy is about 50% (exuding all BE trades).

I see people post a lot of their positive results, but I rarely see failed results. This further makes it frustrating because it is seen that other people are having great success when in reality they may only be doing marginally better than I.

Cheers.
  • #53,314
  • Feb 14, 2015 7:36pm Feb 14, 2015 7:36pm
Quoting Tollazor
Hi everyone, I've been reading this thread since the start, I'm at page 30 and post 500. I've been trying to trade this system and getting pretty mixed results. Certainly nothing like people are reporting in the thread back then. Now I fast forward to now and see that everyone is trading it differently to how it was in 2011. I hardly see any 4hour charts and I see more indicators used. Why has there been a shift in how it is done? Is there are post in the last year that sums up why you guys are trading it as you are now? It seems most people are...

Yes...and you never see any live trading at all...ever. Lot's of claims and hindsight trades, but nothing live, even from those who are claiming huge monthly gains...... I wonder why that is?
Doing what you like is Freedom. Liking what you do is Happiness.
  • #53,315
  • Feb 14, 2015 8:00pm Feb 14, 2015 8:00pm
Quoting Ballistical
{quote} Inspiring as always Phx62! Can't thank you enough for showing myself and many others the way to profitable trading! I'd be interested to hear what factors persuaded you to stick with +50 on Wednesday. I would have imagined that with TDI green crossing red and yellow, all just above the 50 line, prior to London Open, this would be prime territory for you to target +100. Was this partly down to the slow start at London Open or the lack of news during the session? Thanks again for sharing your trades!
I had an early business meeting the next morning so it was a set and forget trade after moving the SL to BE+4.
  • #53,316
  • Feb 14, 2015 8:05pm Feb 14, 2015 8:05pm
Quoting Next4467
Quoting Phx62
EA H1 trades this week including breaks of trend lines at or near LO. Trade 1. Price broke short below trend line with TDI confirmation. Entry made on a break below the Frankfurt candle and on the 3rd candle. Still within the rules of TMS and my trading plan because candle 2 did not count (no body). Trade 2. Price broke long at LO with TDI confirmation and also broke the 3 touch trend line. Entry above high of Frankfurt candle. Beautiful Trading PHx62 as always. Can I ask a question about your trade 2: You entered at the break
...
Actually the candle following LO pulled back 28 pips and then moved long again. When the red candle printed, the TDI green had not crossed over the red, so I stayed in. If the candle following the red candle had pulled below the 2nd London candle, I would have exited for a loss.
  • #53,317
  • Feb 14, 2015 8:16pm Feb 14, 2015 8:16pm
Quoting emmanuel7788
{quote} Hi SJ, Now to answer which timeframe I like to trade best. It is the D chart TF and I trade that with a disciplned money management strategy. I had a slow start in Jan after my long year end vacation. As usual, being away from the market, I lost touch with the movements. But in Feb, I managed to get back into the rhythm with the market and managed achieved my first 10% profit cycle in 10 trading days. I risk between 1% and 2% per currency pair and only open each trade with 0.2% risk, then scale-in more trades with same 0.2% risk as the trend...

hi emm,

would you mind to post your fxbook username or link so we may learn from your history trade?
  • #53,318
  • Feb 14, 2015 10:32pm Feb 14, 2015 10:32pm
I have to wonder, is it simply luck for these people, they just happened to be the ones who fluke more wins than loses? I notice that names of people in these threads seem to last around 1 yearish than disappear. Is that because they irrecoverably blew their cash?

Then again some people seem to have consistency with it.

I've been running an empty EA that just starts the visual strategy tester in my4, doesn't actually do anything. That way you can load your indicators and everything and play the market for a historic spot (eg march 2014) and run it in fast forward. Doing this on the 1hr EJ charts I currently have 6 losses and 5 wins.

40 pips loss and 70 pips win, so +30 all up. Is this what people are averaging in reality, not the 80% wins of 30+ pips each with a few low pip losses?
Can people start posting their actual stats so people like I can get a real idea of just what is 'normal' for a good trader?
  • #53,319
  • Feb 14, 2015 10:49pm Feb 14, 2015 10:49pm
Quoting Tollazor
I have to wonder, is it simply luck for these people, they just happened to be the ones who fluke more wins than loses? I notice that names of people in these threads seem to last around 1 yearish than disappear. Is that because they irrecoverably blew their cash? Then again some people seem to have consistency with it. I've been running an empty EA that just starts the visual strategy tester in my4, doesn't actually do anything. That way you can load your indicators and everything and play the market for a historic spot (eg march 2014) and run...
while i am not trading live, i have been learning in this thread for the past two or so years. I don't believe its luck, i believe its determination. You don't become a surgeon in a couple years of study, so why is forex any different. I have been silent lately in this thread, but i've been watching and reading and absorbing all i can. I hate EA's because they are mechanical, but i've seen others that use them with no problem, i just don't like them. This system is more than just a mechanical entry/exit, you have to know all the other odds and ends of forex trading too. Risk management is extremely important with any system and if its followed to a T, then you should have small losses but larger winners. I've been getting better at trading, but i will tell you i'm not profitable yet. I know this will take many years of practice and study and watching the markets to be good at it. Other's do it and so can i. I've been in it long enough to know it takes a long time to reach this goal. Sorry i don't have any stats for you .
  • #53,320
  • Feb 14, 2015 10:53pm Feb 14, 2015 10:53pm
Some interesting speculative news on the Greece situation.

http://www.reuters.com/article/2015/...0LI0QV20150214
Intelligence is the ability to adapt to change. Stephen Hawking
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