Hi Guys,
I have followed the instructions to upload the TDI indicator into MT4. But when I restart the program it doesnt appear in my custom indicators dropdown menu in MT4. Is there something that I am doing wrong?
Thanks in advance
@Johhny
pips can be identified by the first four decimal places of the currency? is this correct?
Thanks alot!
@Aussie
Yes you are doing something wrong. It also took me a while to configure my mt4.
Noel,
The best advice I got from someone is that you need to define yourself as trader first and then find systems that fit your âcharacterâ and you will have the best chance for success. Trading a system just because someone else does and makes money in no way may produce the same results for you. Maybe completely the opposite.
Need to define your risk level per trade you are comfortable with.
Number of times per day you want to trade witout over trading.
How much computer face time do you have.
How many losses in a row can you face before you crack.
How deep of drawdown can you sit on with each trade.
How long do you want to sit in a trade.
Whatâs your style, scalping, PA, swing trading, technical analysis, trend trading, range trading, retractment trading, etc.
How well do you handle stress. Can you sleep at night when a trade is in deep draw down?
Plan to grow your account slowly and steadlyâŚshooting for high risk big returns usually ends up badly.
Again, trying to just trade a system that doesnât fit you is surely a losing system in time. You have to find you then a system to match.
Oh ya, there are no holy grails, you can blow a lot of money on EAs that usually donât work very well over longer time frames.
These forums are a wealth of info. As JK stated, read everything you can get your hands on.
hi ejohnston. thanks good advice to newbies like myself. i am finding the âswingsâ are very volatile on a short term basis. sometimes it is better to have two systems- short term with long term systems.
i prefer simpler systems. complex stuff is hard. too much screen time waiting for setup is not healthy.
Hi Halba,
Welcome to the site. Have you tried working with Moving averages? I have a very simple and effective system based around this. Let me know if you are interested and will post more info up.
All the Best
Mark
Sent from my iPhone using BabyPips
Noel,
The best advice I got from someone is that you need to define yourself as trader first and then find systems that fit your âcharacterâ and you will have the best chance for success. Trading a system just because someone else does and makes money in no way may produce the same results for you. Maybe completely the opposite.
Need to define your risk level per trade you are comfortable with.
Number of times per day you want to trade witout over trading.
How much computer face time do you have.
How many losses in a row can you face before you crack.
How deep of drawdown can you sit on with each trade.
How long do you want to sit in a trade.
Whatâs your style, scalping, PA, swing trading, technical analysis, trend trading, range trading, retractment trading, etc.
How well do you handle stress. Can you sleep at night when a trade is in deep draw down?
Plan to grow your account slowly and steadlyâŚshooting for high risk big returns usually ends up badly.
Again, trying to just trade a system that doesnât fit you is surely a losing system in time. You have to find you then a system to match.
Oh ya, there are no holy grails, you can blow a lot of money on EAs that usually donât work very well over longer time frames.
These forums are a wealth of info. As JK stated, read everything you can get your hands on.
Read more: 301 Moved Permanently
yet another great post and further proof that you are truly a professional!
@Johhny
pips can be identified by the first four decimal places of the currency? is this correct?
Thanks alot!Read more: 301 Moved Permanently
not necessarily. Basically currency pairs can have 4 digits after the decimal or 2 We usually refer to these as â4 digit brokersâ
for example eur/usd is 1.4394 and eur/jpy is 110.48
an example of a â5 digit brokerâ would be eur/usd 1.43948 and eur/jpy 110.486 The last number is also sometimes referred to as a âpipetteâ and represents a fraction of a pip.
eur/usd would be something like 1.4394 and 8/10thâs of a pip or 1.43948 If you sold eur/usd and closed it at 1.43548 you would have earned 40 pips if you closed at 1.43547 you would have 40.1 pips
@johnny - Correct me if iâm wrong, example: eur/jpy is 110.48, and I closed it for 110.59, that would be 10.4 pips? or thatâs 1.04 pips? Iâm pretty confused.
@ejohnston - thanks for the advice man, I am currently in the process of figuring out what kind of trader I am with the demo, Iâve been studying babypips lessons and reading books. So far, Iâm getting overloaded with theories. I think iâll be sticking with the âKISSâ. Been experimenting with the Big E and the 3 Ducks system. Both system is working good for me, itâs just iâm over trading. Still getting that habit out of my system before I do the real thing.
noeljedayala,
The size of one pip on EUR/JPY is 0.01, so the difference between 110.48 and 110.59 is 11 pips.
A pip on EUR/USD is 0.0001. Look out for extra digits on the end, as Johnny noted. 0.001 would be 1/10th pip on EUR/JPY, and 0.00001 would be 1/10th pip on EUR/USD.
ejohnston,
That was a nice read, your post about trading your style. Something to consider thoroughly. Thanks.
Thanks for clearing this up! 
guys I donât know who else to ask but how do I compute profit/loss per pip without entering a trade? I know it has to do something with leverage and lot size, but whats the formula? Iâm making my risk management system help plz! thanks
Great explanation, didnât realize there were also fractions of pips
Whatâs the recommended Timeframe for BigE?
h1 or h4 or even daily
iâve been following this for a long time now. just got around to making an account now. awesome system. props to the owner for sharing!
Heâs baaaaaaack! Who cares?
My experiment with scalping is over, too much computer time for too little pip results plus to make money one needs to raise the risk (lot) exposure. I had on the side still watched and sometimes traded the BigE and have boiled it down to one session, the 4H at 07:00 my time.
Last night I entered a Daily trade on the E/gbp at 23:00, went to bed and this morning I closed it out at -36 pips. I will not trade the D. anymore as I canât or wonât monitor a trade during sleep time. This morning at 7am on the 4H I shorted the E/gbp for +7 pips, shorted the E/$ for +39 pips, & shorted the gpb/$ for +38 pips. Closed all of them at 08:20 for + 84 pips. But less the -36 pips from the D. trade I am +48 net for the day and done.
I follow BigEâs rules as he expressed in post #1 on the FF forum. Plus I read something by another trader and I quote inexactly: âI never understood the need to make a bunch of trades. If one had two successful trades a week and each nets 2%, thatâs 4% a week, 16% a month.â Anybodyâs 401k posting that kind of result? Not my portfolio anyways. Easily doable if one follows the rules.
Good trading all, d.
Welcome back. 
I think I am going to renew my efforts as well. This is a great system if I can find the time to trade it.
jk - I have nothing but time as Iâm retired. I read quite a bit of the other forumâs thread and learned to skip the posts where someone wanted to add an indi or change settings, etc. But the successful ones seem to trade the 4H or the 1H if nothing on the 4. Some even trade the D. but twice I have seen a good setup end up in the minus column because MBTradingâs daily changeover is 23:00 my time. The London session killed me.
I donât know how someone with a dayjob in the US and family obligations could trade this strategy frankly. I have never done well with the Asian session and tend to go to bed early anyways. It is a good strategy with 5 or 6 simple rules but they must be followed precisely or negative pips will result. 2 premium trades a week is doable for me. Best to all, d.
I think I am going to renew my efforts as well. This is a great system if I can find the time to trade it.[/QUOTE]
Good to see you back, d. Iâve been reading your comments on this thread and have taken interest in your approach, so I am looking forward to hearing more from you. Please keep us up to date on your successes/trials with BigE.
I have been loosely following the rules laid out here but also branching out a bit, with moderate success. Sometimes I scalp the 15min setups for small profits but they also end in lossess just as well. The 1HR and 4HR timeframes do seem more reliable, and I need to use more patience in my trading in order to follow this timeframe.
Regardless, I think the TDI is a great indicator, as I find that it catches moves earlier than other indicators do.
On a side note, how do you like MB Trading? Iâve been thinking about going with them, but I wonder how their pricing structure works with scalping. I use thinkorswim, which seems to have poor spreads, but excellent charting tools (Iâm an option trader first and foremost).
Seth: I donât want to derail this threadâs subject but to answer your question re. MBT - they are great. Even lower spreads than Oanda and truly straight through processing. One slight drawback if you use their mt4 platform (I do) is that you can place a market order but no SL or TP at the same time. After the order is placed you can modify it with SL & TP, a slight inconveniece but the processing is FAST in my experience. d.
edit: a guy named âtitchâ over on FF looks 1st at 4H TFs, if nothing meets the rules he drops down to 1H, & if still nothing he drops to the 15M for scalping. He has done well but I donât think he posts much anymore as he has his strategy and it apparently works for him. Hopefully we will all be like him this fall. d.