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Easy no stress daily charts:)

Quoting FX_California
Olu:

Do you have any stats on that L method (without name calling)? How long you had been trading and average pips/month?

Thanks,

FX_California
I have only just opened an account dedicated to 'the system we cannot mention'. I uploaded a graphic sometime ago on this thread to show the system is consistently profitable. I am currently tracking through my past trades and analysing which ones are ' ' trades.

If you guys are using MT4 at the point of entering new trades you can name the strategy in the comments box so you can track which trades are ' ' trades. I should have done this but I didnt

I have been trading this method for about one year and on the whole it has been profitable. I will have to come back to you with more stats

Olu
Find a trend and milk it for all it is worth. That's how to be profitable
Thanks Olu. I am forward testing (live with Onada with very small lot) this one just over a month. Although, it's not profitable yet. But I realize that any trend following system probably will give postive results if we have patience to hold the trade in profit to get maximum benefit and also have the courage to accept frequent losses (for a daily system, it's not very small loss although). To cover frequent 170/200 pip loss, we need to get some times over 700/800 pips profits in some trades. We saw that Slurpee got that with USD/CHF. But most of us probably would have taken a lower profit and closed. Because of potential draw down, I have to keep my lot size small. So, even if I make a big profit, it won't be too much to feel rich. So, I need to be very certain and confident with any system before increasing lot size as that might eat up my account quickly in case it's not profitable. I am glad you, Slurpee and some other folks in different threads using similar daily trend follwiung method. Because of my day job, I have to settle only with daily time frame. I have been reading your thread and you are very helpful. I take this opportunity to thank you and Slurpee.

-FX_California
Quoting Olu
I have only just opened an account dedicated to 'the system we cannot mention'. I uploaded a graphic sometime ago on this thread to show the system is consistently profitable. I am currently tracking through my past trades and analysing which ones are ' ' trades.

If you guys are using MT4 at the point of entering new trades you can name the strategy in the comments box so you can track which trades are ' ' trades. I should have done this but I didnt

I have been trading this method for about one year and on the whole it has been profitable. I...
Quoting FX_California
Thanks Olu. I am forward testing (live with Onada with very small lot) this one just over a month. Although, it's not profitable yet. But I realize that any trend following system probably will give postive results if we have patience to hold the trade in profit to get maximum benefit and also have the courage to accept frequent losses (for a daily system, it's not very small loss although). To cover frequent 170/200 pip loss, we need to get some times over 700/800 pips profits in some trades. We saw that Slurpee got that with USD/CHF. But most...
Thanks for your kind comments. You are right about the usdchf trade. I got some of it but nowhere near that run Slurpee had. I started my tread because when I trade intraday I generally give money to the markets. I only have lunchtime to have a peep at the markets and find that I make rash decisions when I do. However my most profitable strategies start with tfs 4hrs and over. I am more or less trading the daily TF now. This is why this strategy suits me fine.

I started trading with 4 indicators on my charts and over time I keep reducing them and simplifying them. Right now it is down to one oscillator and one MA. I love simple strategies. I even trade strategies based only on inside bars, hammers, engulfing bars, trendlimes and pinbars whth no other indicators.

Yes the stop loss on this strategy is high to start with but if it goes our way we move it quickly to preserve capital. That's the best we can do as traders. One good thing though is that it is rare to get back to back losses like the uchf and the audusd we had recently. Shame but rare. Thankfully.

My mentor (yes, I have one) is a position trader and always says 'patience' is the key to getting the best trades.

Olu
Find a trend and milk it for all it is worth. That's how to be profitable
we have a buy signal on XAU/USD

I M BUY ON 1810.85
How do you guys confirm that the stoch cross has been completed? What I mean by that is when you check at the daily opening of the candle the cross that we see might not be there couple hours later..
Quoting The7
How do you guys confirm that the stoch cross has been completed? What I mean by that is when you check at the daily opening of the candle the cross that we see might not be there couple hours later..
At the end of your brokers day, when the candle has printed
Quoting jucaorma
we have a buy signal on XAU/USD

I M BUY ON 1810.85
I'm buying this one too.
GBP-USD for the radar...
usdcad the SL hit at -150

I hope the markets show finally some direction and we will get to have some proper trades...
Live it or leave it!
Quoting Slurpee
stopped out audusd and usdchf as well... usdchf -170, audusd -170

..... ok, enough crying, lets get ready for another trade!

This is part of the game, we should not take it as a personal loss, we sticked to the rules and that is the most important thing here... emotionsless
I think, the loss is 2x170 + 2x170. There was now BE.
Quoting Happy68
I think, the loss is 2x170 + 2x170. There was now BE.

Hi Happy,

of course it was 2x170 and 2x170... don't really get what is your point...?
Live it or leave it!
EurJpy?
Valid sell signal?
Quoting anderssv82
EurJpy?
Valid sell signal?
only for radar perhaps tomorrow
gbpusd is a buy signal

i lost on xauusd sl
Thanks for sharing a very nice system. I've been backtesting on the currency furtures and it works in this area as well...

In my backtest I noticed that an entry above the signal bar vs above the signal bar close, saves me from a few stop hits.

Question- If there is no fill after the signal day and we start getting lower highs, do we place our order above the high of each bar after the signal bar? Or do we wait at the high/low of the signal bar evey additional day until it's filled?

I understand that if if STOCH passes 60 in an uptrend or below 40 in a downtrend before we are filled then the trade is null?

Anyone else running futures contracts using this method?

Cheers
Signal On Yen
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Signal On Pound
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USD Signal. Currency Futures contract...
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Quoting anderssv82
EurJpy?
Valid sell signal?
By me - yes. And now is on BE.
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Quoting Slurpee
Hi Happy,

of course it was 2x170 and 2x170... don't really get what is your point...?
My point is, I'm not suge the MM of the system is OK.

I can not explain better because of my English, but the profit from U/S is blown - 340+340+300=980 pips. That is not good.

It is just a comment, I dn't have any proper solution/idea for this problem.

I hope you understand me now
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