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Following this for sometime.
Read this thread awhile ago.
I feel like i'm not succeeding in this strategy.
Anyone have words or examples of encouragement?
Thanks
Quoting faatkumo
Following this for sometime. Read this thread awhile ago. I feel like i'm not succeeding in this strategy. Anyone have words or examples of encouragement? Thanks
Hi faatkumo

I understand exactly where you're coming from. It's really hard to open a trade on a higher time frame and often when you do it's exactly when there's a pullback or retracement!

The answer is that you do have to come down to the lower time frames like the 1 hour or 30 min chart to find a suitable place to enter.

That's what I think anyway but someone like Oddbjorg might be able to help you better as she is most definitely doing well with this strategy (I think). I think she waits for 3 soldier candles and then enters a trade. Of course after 3 bullish/bearish candles there is often a pullback so if you're entering on the daily chart you need to employ a big SL like 100 pips or something. It's not my cup of tea but once the trade goes in your favour you're looking at 100's of pips profit.
Never say die
Quoting faatkumo
Following this for sometime. Read this thread awhile ago. I feel like i'm not succeeding in this strategy. Anyone have words or examples of encouragement? Thanks
Hello and welcome
Jmtini mentions me - so I will just say some of my thoughts, if they can help.

I am a bit longwinded, so I hope you all will bare with me. Do not do anything or using your money on what I say. I am just a learner.
Try it out in Demo for your self. Do not use any of your money, before you are succeeding with that. Go through the charts posted on the thread.

Thinking about going long ??!!

- after 2 green candles - not to small
- without great wicks - not sideways
- most of the time, coming from low bb, so there is space to run
- gone well through sma5 - sma 5 shall be pointing upwards
- for the most part not over or on high bb - look a bit how it is in other timeframes
- look a bit after the other pairs, that fit into the system that day and compare
- Bk8 says somewhere, that mid bb sometimes works as resistance, so the candle can be on or
over mid when you decide to go in.
- Bk8 used S&R - I do not know so much about that yet. - I use Tokyo open and sometimes London open.
- I am not good at the exiting part - I snap it after it has been running for 2 or 3 candles my way

Well this was longwinded – These are just some of my simple ways to look at it.

I am sure some of the profs will give more input.

All the best and take care.
Oddbjorg
All the best to all of you. But don't follow me. I am a learner.
Quoting Oddbjorg
{quote} Hello and welcome Jmtini mentions me - so I will just say some of my thoughts, if they can help. I am a bit longwinded, so I hope you all will bare with me. Do not do anything or using your money on what I say. I am just a learner. Try it out in Demo for your self. Do not use any of your money, before you are succeeding with that. Go through the charts posted on the thread. Thinking about going long ??!! - after 2 green candles - not to small - without great wicks - not sideways - most of the time, coming from low bb, so there is space to...
Thank you Oddbjorg sorry I that got it totally wrong. Would have worked nicely on AUDCAD! GBPAUD too of course
Never say die
Quoting Filipo1
Hello traders, AUDUSD is the only clean signal I have seen today. In fact a bit late as the setup was already clear at Thursday’s close . I see now that Oddbjorg already announced it on the 7th. Daily support line broken but beware of weekly next support coupled with 50% Fibonacci retracement just 30 pips below Friday’s close as doji highlighting market hesitation. {image} {image}
Follow up of post Nr. 9567
Fibonacci retracement adjusted at 19:40 GMT or UT.
The pair finally rebounded on its support and is showing possible continuation with a nice cup-and-handle in H4. However again it will have to cross 38.2 Fibonacci around 0.7740.
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I used to be indecisive but now I'm not so sure...
Hello
No trade for me.
Oddbj.
All the best to all of you. But don't follow me. I am a learner.
Eur/Aud.
Trendline + breakout
Is this a good oportunity?
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Quoting netas369
Eur/Aud. Trendline + breakout Is this a good oportunity? {image}
Hello Netas 369 I see what you mean.
On the one side Eur is stronger than Aud, but I would like to see one more green candle my green line , and would like sma 5 to point upwards my blue line, to see that Aud has bowed down.
Just what I think. Some of the profs can maube explain better.
Take care - and all the best.
op
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All the best to all of you. But don't follow me. I am a learner.
Hello
55%
EN or GN

Thank you.
Op
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All the best to all of you. But don't follow me. I am a learner.
Quoting Oddbjorg
Hello 55% EN or GN Thank you. Op {image} {image}
Thanks Oddbjorg, my preference goes for EURNZD
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I used to be indecisive but now I'm not so sure...
Quoting Oddbjorg
{quote} Hello Netas 369 I see what you mean. On the one side Eur is stronger than Aud, but I would like to see one more green candle my green line , and would like sma 5 to point upwards my blue line, to see that Aud has bowed down. Just what I think. Some of the profs can maube explain better. Take care - and all the best. op {image}
Thank you for your help.
About sronger currency, we need to watch eur or usd index? Or enough to see the trend, to consider which are stronger ?
Hello
The best I can see is EY. On the other hand it is the third candle, so the battery might be empty for now.
May be a small trade, but with keeping an eye on it - good sl. 50/50%
Upper bb could be the R line.
We will see.


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All the best to all of you. But don't follow me. I am a learner.
I agree. But for me gbpjpy seems better. The sma 5 line points upward, the price ran away from 50 sma and 50 is over the 200 sma, the stop loss can be smaller than other jpy cross.

In this case we had 3 green candle too, and it may be a problem. What do you all think?
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  • Post #9,594
  • Quote
  • Edited Dec 21, 2017 12:53am Dec 20, 2017 11:42pm | Edited Dec 21, 2017 12:53am
Quoting Doppiomalto
I agree. But for me gbpjpy seems better. The sma 5 line points upward, the price ran away from 50 sma and 50 is over the 200 sma, the stop loss can be smaller than other jpy cross. In this case we had 3 green candle too, and it may be a problem. What do you all think? {image}
Hi Doppiomalto, yes it seems to have some potential but limited from my point of view. First because the pair has been stuck in the 148-153 range roughly for quite some time and is now close to upper bound. Unless there is some important news release I doubt price action will be strong enough to break it till the end of the year as liquidity evaporates. In addition JPY pairs have mostly been under the USDJPY rally's influence which could now face resistance looking at the daily Ichimoku (always a must as far as JPY is concerned for me). On the Pound side GBPUSD is clearly not bullish at the moment.

Happy trading and best wishes to all for the new year!
I used to be indecisive but now I'm not so sure...
Quoting Filipo1
{quote} Hi Doppiomalto, yes it seems to have some potential but limited from my point of view. First because the pair has been stuck in the 148-153 range roughly for quite some time and is now close to upper bound. Unless there is some important news release I doubt price action will be strong enough to break it till the end of the year as liquidity evaporates. In addition JPY pairs have mostly been under the USDJPY rally's influence which could now face resistance looking at the daily Ichimoku (always a must as far as JPY is concerned for me)....
Thanks for your reply. I hope in a short term trading for this cross, before the Christmas holiday..
we wil see. Good Luck
hello

just want to ask:

1.how many of u put risk:reward in this system
2. SL BE
3.Cut profit,floating entries just hold till SL

i just want to know which is the best exit for this trading system.

Thanks
Zach
Quoting ErollZach
hello just want to ask: 1.how many of u put risk:reward in this system 2. SL BE 3.Cut profit,floating entries just hold till SL i just want to know which is the best exit for this trading system. Thanks Zach
Hello

For me:
- have a bit tigther sl than BK8 was teaching us.
- take the profit after it has gone 3 og 4 candles my way.
- if 2 trades, - take no. 1 like above, and let no. 2 run - - - and tigthen sl.
- only set sl and set the exit as BK8 was teaching us, when very sure of taking the position.
All the best
op
All the best to all of you. But don't follow me. I am a learner.
Hi friends im watching you time after time
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Quoting mizi123
Hi friends im watching you time after time {image}
Hi Mizi123
Nice having you. Thank you.
op
All the best to all of you. But don't follow me. I am a learner.
Quoting ErollZach
hello just want to ask: 1.how many of u put risk:reward in this system 2. SL BE 3.Cut profit,floating entries just hold till SL i just want to know which is the best exit for this trading system. Thanks Zach
Well, I've adapted this strategy to my way of trading.
- as rules say I take 2 positions and I put sl like BK8 saysn
- as soon as the price touch a resistance, a 50 sma or 200 sma in lower timeframe or a weekly pivot point or I gained 30 pips I close a position and set a tighter stop loss (generally at same pip of the first gain. In this way I protect the capital)
- for the second position I leave it run move the stop loss like BK8 said as soon as possible.;
- I take profit when:sl touch, 200 pip gained, price touch 3rd resistance or support of weekly pivot, when trend move against like BK8 said.

In this way risking 5% of my capital I'm gaining 10-30% monthly for 10 months. I never had a bad month.
Maybe I'm lucky
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