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Trading is this Simple? Finally Explained simple and clearly! 46 replies

More easy is impossible 17 replies

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More simple is impossible

Quoting cfabian
Today's market was a very difficult one to trade (at least for me). I blew a demo account. Part being didn't respect SL, but hard to spot entries, and break trades with severe DD. Hope dee, Luca and those showing the light can post some guidance. I am trading DAX and DOW in US session. Best
One thing I can recommend is something that has helped me greatly when running into such conditions is this. Before the session and during it, I look at the chart and ask myself is this a trend?is it consolidation?is it a range? What supports that its this? What needs to happen to support this, what would need to happen to negate it?
Then you can align your trading to match the condition. If example its a trend, - look for hidden divs, don't fight the trend, look for momentum breaks on macd...if its a range, slab the TMA on it to call out tops or bottoms, consolidation - expect small moves, pending breakout. TMA also useful.
My 2 cents, take it or leave it :-)

Best, Josh
Hi all. Trade ideas from today. I still wonder sometimes what to do when price is around BRN.
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Cheers!
Hi guys, today I watched EURUSD instead of GER 30 where I could not find any sensible trade. It worked well - no loss, 1 BE, 4 wins for 49 pips.
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Quoting cfabian
Today's market was a very difficult one to trade (at least for me). I blew a demo account. Part being didn't respect SL, but hard to spot entries, and break trades with severe DD. Hope dee, Luca and those showing the light can post some guidance. I am trading DAX and DOW in US session. Best
Hi Cfabian,
sorry for delay. Have right, was a very difficult day for trading.
First of all you have to follow the Joshua's words, thats the way.
About charts, you have to see Divergences and Pattern with Oscillators and must be in agreement.
Do not worry about the burnt account, it is a necessary path to success. The important thing is to understand why it happened.
Best

Luca
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Quoting matmomo
{quote} Hi Cfabian, sorry for delay. Have right, was a very difficult day for trading. First of all you have to follow the Joshua's words, thats the way. About charts, you have to see Divergences and Pattern with Oscillators and must be in agreement. Do not worry about the burnt account, it is a necessary path to success. The important thing is to understand why it happened. Best Luca {image} {image}
Agree. I would like to add this. - What I would do historically is take a first SL, then second SL and then go full revenge trading. Not stopping to think, wait..what is going on here? Worst thing to do and that would lead to serious trouble. There is a reason why such areas are called killing zones/account killers etc.
Best, Josh
Few from Draghi. Ger30 35+2+31+34+11+17+10+26+38.Divergence at BRN followed by a TL break started it all, no idea where it was going to stop so just kept entering and looking ahead for targets first Blue line was the HTF 200EMA not much resistance there, then a BRN got a bit wiggly just before then after that someone hit the accelerator again and I couldn't add enough trades early enough it moved pretty quickly, got rid of that batch on the pullback but then there was a deeper pullback to the 20 ema the stochs peaked and the MACD only pulled back to the 0 line so I loaded up again, took a partial at +10 another at the BRN and left one to run as it still showed no sign of finishing. Looking left on the HTF chart showed an area of prior congestion so I was ready to close this manually, I set Target down below the congestion price did come down to kiss me didn't like the taste, must have been the garlic last night so I played safe and closed. Goodnight all.
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Cut your Losers short and let your Winners run.
First post on the forum here. I just recently finished reading this thread from start to finish and all I can say is "Wow".

I don't have much to add at this point other than to thank all of the people (like dee50) who have taken so much time to share what could only be described as a wealth of knowledge. It is much appreciated.
Nice thread, thanks! This is really the most simpliest way to trade. Do not overcomplicate things, guys! Totally agree with TS. Would love to follow the thread, subscribed!
Quoting dee50
Few from Draghi. Ger30 35+2+31+34+11+17+10+26+38.Divergence at BRN followed by a TL break started it all, no idea where it was going to stop so just kept entering and looking ahead for targets first Blue line was the HTF 200EMA not much resistance there, then a BRN got a bit wiggly just before then after that someone hit the accelerator again and I couldn't add enough trades early enough it moved pretty quickly, got rid of that batch on the pullback but then there was a deeper pullback to the 20 ema the stochs peaked and the MACD only pulled back...
Superb. Amazing trading as always.
More simple is literally impossible
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We all do it and we all often end up cursing. Breakout Trading. The 50/50 way to a fortune I say that because you have a 50/50 chance of it coming back to bite you on the arse or ass, depending on your preference. Lance Beggs had a few thoughts on this so I have converted them to PDFs, 3 in a row is labouring it but he has a valid point.
Hope it helps.
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File Type: pdf Post Breakout Behaviour 3.pdf   141 KB | 419 downloads
Cut your Losers short and let your Winners run.
Quoting dee50
We all do it and we all often end up cursing. Breakout Trading. The 50/50 way to a fortune I say that because you have a 50/50 chance of it coming back to bite you on the arse or ass, depending on your preference. Lance Beggs had a few thoughts on this so I have converted them to PDFs, 3 in a row is labouring it but he has a valid point. Hope it helps. {image} {image} {image}
Many thanks Dee
I see what you say... breakout trading for me has been difficult, and makes me feel uncomfortable.

Will read your PDFs
Quoting dee50
We all do it and we all often end up cursing. Breakout Trading. The 50/50 way to a fortune I say that because you have a 50/50 chance of it coming back to bite you on the arse or ass, depending on your preference. Lance Beggs had a few thoughts on this so I have converted them to PDFs, 3 in a row is labouring it but he has a valid point. Hope it helps. {image} {image} {image}
Thanks Dee,
for your time and for share your knowledge.

Best
Luca
DAX +11

I avoided of trading whole January and started today, I was trying many concepts in last 8 weeks and this is my strategy for next couple of weeks - just 1 trade a day, TP around 10 pips/maybe more or less - depends on volatility. I have many reasons to trade this way, hope it will prove itself as good decision.
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Anyone having trouble with their renko charts?

I’m using STG renko indicator and it’s drawing blank.

I try to go back using the offline chart with renkolivecharts pimped v4-13 but it’s not working either.

any advice? I made no changes to my computer nor the mt4.
Dear all!!!!!
today DowJones is awesome for learning, its speed allow us (IMHO) quick entries and exit with our criterias. May be with demo accounts, I don't wanna be responsable of your decissions, he he he

Check it
Quoting PappaJack
Anyone having trouble with their renko charts? I’m using STG renko indicator and it’s drawing blank. I try to go back using the offline chart with renkolivecharts pimped v4-13 but it’s not working either. any advice? I made no changes to my computer nor the mt4.
Nope. Try opening a regular chart and see if data is updated there. Best, Josh
I really don’t know what’s going on. Using the STG indicator, data is fine...but all I see is nothing in the renko charts...only the price line going up and down.

I’m trying out ovo in the meantime and it seems fine. I wonder what went wrong with the STG, though.
Quoting PappaJack
I really don’t know what’s going on. Using the STG indicator, data is fine...but all I see is nothing in the renko charts...only the price line going up and down. I’m trying out ovo in the meantime and it seems fine. I wonder what went wrong with the STG, though.
Hmmm. Are you sure you are basing the renko chart on a 1 min chart? Try collapsing everything, closing all online and offline charts and rebuilding them.
If that does not help, I would try deleting your history from mt4/history/your account/ -for ger30 / de30 or whatever pair.
Best, Josh
huhhh??? it seems I broke my renko 3. STG works fine with renko 5 and renko 10. Really, really weird.
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