Big E Trading

[woris]

Congrats DonMacamillion, stay tuned!

[PureMuscle]

I’ve started using the 15M TF and now I see a big difference. My losing trades have been too small of a S/L. I also lowered my lot size as you suggested which helps to keep my emotions in check.

I gained 41 pips today with 5 trades. One loser. I see promise for me and this system. 40+ pips a day would make this one a keeper!

I also trade this system on the shorter timeframes, but generally not the 5 or 15 minute ones, as the profit vs risk is not worth it. Why not try the 30 minute charts with the 1 hour as a confirmation? If you follow this strictly, its almost impossible to make losses. I also agree with the larger S/L, at least 20 pips in my case, especially if the red TDI is not sloping in the direction of the trade, but has nevertheless been cut through by the green one. These moves tend to be much weaker than if the red one is also moving with the trade.

[DonMacamillion]

I also trade this system on the shorter timeframes, but generally not the 5 or 15 minute ones, as the profit vs risk is not worth it. Why not try the 30 minute charts with the 1 hour as a confirmation? If you follow this strictly, its almost impossible to make losses. I also agree with the larger S/L, at least 20 pips in my case, especially if the red TDI is not sloping in the direction of the trade, but has nevertheless been cut through by the green one. These moves tend to be much weaker than if the red one is also moving with the trade.

30M TF would seem to be more reliable. I will try it tomorrow. What’s your exit strategy like? I would like to be able to get a few more pips out of each trade.

[dobro]

The exit rules per the strategy’s originator, eelfranz, is when the green tdi hooks, flattens, or curves in the opposite direction. Which means of course that one needs to be in front of the monitor which I assume shorter TF traders are. d.

30M TF would seem to be more reliable. I will try it tomorrow. What’s your exit strategy like? I would like to be able to get a few more pips out of each trade.

[PureMuscle]

30M TF would seem to be more reliable. I will try it tomorrow. What’s your exit strategy like? I would like to be able to get a few more pips out of each trade.

I generally use the 30M chart to exit. If the latest candle closes below the yellow SMA line, then I exit. Again, as dobro said, it requires a lot of chart monitoring if you are trading the shorter TFs.

[marshalmax]

Why not try the 30 minute charts with the 1 hour as a confirmation?

What do you mean by “confirmation”? if you see the crossover in the 30m, what do you look for in the 1h to confirm the action to buy or sell?

[PureMuscle]

I will post an example later when I get home from work, but generally you’ll see the candles change from blue to red or red to blue on the 30minute chart, and eventually the latest candle will break through the SMA line and close below or above it (depending on your direction of trade). So once this has happened on the 30M chart, if you look to the 1H chart and the green TDI is starting to curl or reverse its direction, then the 1H chart will start to follow the same pattern as the 30M one, with the candles changing direction and closing above or below the SMA line. It’s hard to explain in words, but it’s generally easy to spot.

[marshalmax]

So you wait for the signals to occur in the H1 AS WELL AS the M30?

[PureMuscle]

No, not exactly. Based on the 30M chart, it is possible to see where the 1H chart is going. So even before the 1H chart starts looking like the 30M one, you can enter the trade successfully based only on the shorter TF. All you have to do is look for the curling TDI, an overbought/sold stochastic or even have a look at the normal candles and see if there are any candles suggesting a correction.

[993]

I am looking for some clarifications:

1. “Set stop above last swing high or low” >> In case of Swing Low, set stop ‘below’ last Swing Low, right?
2. “Don’t enter trade if there has been more than 3 candles in the same direction as the tdi cross” >> Since a cross doesn’t show direction, you mean don’t enter trade if there has been more than 3 candles in the same direction as the tdi line, right?
3. Can you give me a clear example of a 1:1 RR situation regarding your system?
4. can you show me an example (screenshot, if possible) when the tdi hooks?

Many thanks!

[PureMuscle]

Guys, do you also see this nice looking setup on the daily E/U?

It has all the requirements of a solid short trade

[dobro]

I’m in it too. Got +152 pips by shorting this pair from Thu. evening until late this morning. I normally wouldn’t leave a trade open over the weekend but just decided with the alleged good Eur. Union news that the mkt would slow down and take back some gains. The plan and strategy worked for a change.

Guys, do you also see this nice looking setup on the daily E/U?

It has all the requirements of a solid short trade

[dobro]

I tried to answer this a week ago but the screen locked up, will try again.
#1 - yes or you can use ATR or put the Fractal indicator on, an easy way to see hi & lows.
#2 - yes again but the green line has a direction and should be at 12 to 2 o’clock for long & 4 to 6 o’clock for short.
#3 - Say ATR is 50 pips and you are looking to go long. Add 50 pips to the current price for TP & subtract 50 pips from the entry price for SL.
#4 - sorry, don’t know how to post screen shots but pull up a chart, turn off Scroll & whatever the one to the right of the Scroll button is and then study charts - look for good crosses, hooks, how stochs look, etc. Study them. Good luck

I am looking for some clarifications:

1. “Set stop above last swing high or low” >> In case of Swing Low, set stop ‘below’ last Swing Low, right?
2. “Don’t enter trade if there has been more than 3 candles in the same direction as the tdi cross” >> Since a cross doesn’t show direction, you mean don’t enter trade if there has been more than 3 candles in the same direction as the tdi line, right?
3. Can you give me a clear example of a 1:1 RR situation regarding your system?
4. can you show me an example (screenshot, if possible) when the tdi hooks?

Many thanks!

[PureMuscle]

Hmmm, guys, what do you do when the H4 and the daily are showing opposing signals? I’m guessing the daily one is the one that will generally end up being the one to follow?

[dobro]

I read every post over on FF regarding this strategy and the really successful traders have the TF they want to trade agree with the next two higher TFs. Very conservative but some are showing wins in the 70-80% range. As Britpips7 has stated: if you have two winning trades a week at 2% each, that’s 4%/week & 16%/month not including compounding. Sure beats the stock mkt nowadays.
He also stressed that overtrading & poor MM kills more accounts than just losses.

Hmmm, guys, what do you do when the H4 and the daily are showing opposing signals? I’m guessing the daily one is the one that will generally end up being the one to follow?

[PureMuscle]

I think I’m guilty of overtrading this system, because I will get in a few wins, and then randomly look for another trade immediately, only to lose it and in all likelihood the next few as well. But I think that what you said should be pretty solid - agreeing the TF I want to trade to the next 2 higher ones. Thanks for that!

[dobro]

I should also add that there is more than a few who only look at the setups in a particular TF and ignore what other TFs are telling. Confusing? Long story short we have to find what works for us and do that by demoing. Even though most brokers offer demos with high money amounts only trade the number of lots, probably micro or mini to start, that you will be using when going live. I have stuck with 2% and the Big 6 -E/$, G/$, $/Y, $/C, $/swiss, & A/$ - and never more than 2 open trades at a time. I also only trade the NY session unless I see a D setup during FXDDs changeover at 4 pm. Good luck.

[MissusT]

Hi Johnny, sorry if someone has already asked this - basic - question, but was wondering: so you should wait til the candle closes before taking the trade. Meaning that all trades are taken on the hour… so once the candle closes, you need to check that the following candle starts to go the same way as your intended trade…?
Thanks
Natalie

[mario777]

I’m in it too. Got +152 pips by shorting this pair from Thu. evening until late this morning. I normally wouldn’t leave a trade open over the weekend but just decided with the alleged good Eur. Union news that the mkt would slow down and take back some gains. The plan and strategy worked for a change.

hi, how do you filter those small TDI cross? When I enter it always end up to retracement like the two red candles at around Oct 19. Have you taken that trade? if no, why? Thanks and Happy new year!

[MissusT]

Hi can you please explain how to use the stochs in more detail? What they should be doing to buy/sell and how they affect exiting? thanks a lot.