that's why I'm not quite comfortable to long usdchf.
I'm holding a usdcad long, however
I'm holding a usdcad long, however
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Dislikedthat's why I'm not quite comfortable to long usdchf.
I'm holding a usdcad long, howeverIgnored
DislikedI did long it but for few pips only., day trading can be quite profitable but margin for error is not as with trend following.
I just have not seen not many good set ups with majors with our 3SMAs method in the past 4 weeks. I guess it is like in Bible. 7 fat and 7 thin years. I guess I will stay out until I see legitimate trend develop and set ups. Hopefully, E/U is getting into place. will see Sunday/ Monday. USD/Chf, USD/JPY and GBP/JPY too. I see them all getting into place. I think I will stick with NightMoves/ Hector's approach as it looks...Ignored
DislikedYes you are right with Hector and Nightmove method, there aren’t much move...I think one can add the main S/R method on 4hr Tf which I have tested and once hector's method setup is set, one can ride on it too.
1loveIgnored
DislikedYou mean 4H S/R No Brainer method?
Yeah, NightMoves'/ Hector's method is solid when clear trend is in place.
I think some pairs start developing trend.Ignored
Dislikedyeah, I have been traded this method longer than anything. It practically turned me from losing to BE and slightly positive trader. But if you remember, Steve says that when market ranges for a long time, it becomes hard to determine which level might hold and which not. This is the situation now at least with pairs I always traded this method. also had I looked for these levels, I already have them on my posted charts actually. I just did not set my limit orders there as I usually do. i did not use any fancy set ups from BRV's method like spike...Ignored
DislikedI really have become quite fond of NightMoves'/ Hectors' approach.
The numbers just do not lie. I was almost 8% up for the period when there were opportunities with this method to lose almost everything while trying to trade DanUk's method. The reason was mostly that I let winners run but did not take them at all,m but had also losers. With DanUk method we are supposed to let them run, but if they do not? I believe that profits must be taken. and for my overall goals I find NightMoves/ Hector's method much more suitable than DanUk's. It is more...Ignored
DislikedI also have traded brv's method since a while. It works okay. The benefits are obviously the good R:R ratios. But kind of difficult to backtest his strategy.Ignored
Dislikedas Steve put it, when you are trading this style you always has to be on your toes. He makes both contra and along the trend trades.
I can trade this strategy ok, but it is too stressful actually especially when price goes through your order like a freight train and you are say 20-30 pips under water with 40 pips stop loss.Ignored
Dislikedyep, that's definitely a drawback. I have generally used it for trend trading. But well, through further testing I found out that waiting for pinbars and so on, the strat is more profitable.Ignored
Dislikedit was very good with A/U when it was trending. Laying bricks remember? I was entering with limit orders and had very little DD on each trade or none.
But overall, I do still draw all these S/R lines as per BRV, but I am thinking of how to trade not just putting any limit order at this level but to have PA confirmation that levels indeed gonna hold and with as small stop loss as possible. It is for day trading. I do not think some 4H pin bar is necessary for this. 15 min to 1H chart price action is enough. If price is rejected at this level so,...Ignored
DislikedHi Everyone,
I hope you don't mind me jumping in here and giving my 2 cents.
I haven't been a contributor on this thread, nor have I even been on this forum for quite a while but I was browsing the other day and this thread really caucght my eye. Everything here is logical and is very similar to the way I trade. It also seems that there are a lot of knowledgeable people on this thread who want to help which again is really nice to see.
@Shiko - I read your post above and the previous ones leading up to this and it seems to me that you know what...Ignored
DislikedHi Again,
Thanks Custos I think we are definitely on the same page here.
Shiko, I understand exactly what you are saying, but I really want to caution you against a few things.
1: Don't rely on other peoples results or backtested data. Only once you have tested it yourself can you have any real conviction in the strategy. Also you do not need an EA to test it, you can use metatrader and go forward a bar at a time or if you want to invest a little you can use a specialized testing software.
2: Even though learning and perfecting your day trading...Ignored
DislikedShiko
i am in the same situation, i follow the hector/nm style but have tried to enter on pin bars, engulfing bars etc. instead of waiting for the bpc of the retracement line. You guys who use the pin bars etc. what is your confirmation to enter?
AndyIgnored