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Simple and profitable trading style

  • #1,041
  • Jul 9, 2017 4:57pm Jul 9, 2017 4:57pm
Our duty is to enter good setup, but the direction market will take the trade to is none of our business.
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #1,042
  • Jul 10, 2017 9:26am Jul 10, 2017 9:26am
Quoting 9jatrader
{quote} How do we know when market trend? When market trends it candlestick hardly crossed bollinger middle band. Check the movement of the price before and immediately the US election. When we compare it we could see and judge. Good luck
So eventually you get in CADJPY?
Can you tell us what make you change your view since we had a few discussion on that on back in mid Jun?
Thanks
HC
  • #1,043
  • Jul 10, 2017 9:32am Jul 10, 2017 9:32am
Quoting hhchenfx
{quote} So eventually you get in CADJPY? Can you tell us what make you change your view since we had a few discussion on that on back in mid Jun? Thanks HC
I have been in the trade since 28th, June,2017. I did not add positions, but still holding on-256 pips for now. I shared the CADJPY last week.
What discussion? Remind me
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #1,044
  • Jul 10, 2017 10:00am Jul 10, 2017 10:00am
Am still building discipline by not adding positions to the running pairs. When I get in on the daily setup, I stay away from taking more positions when either the weekly or the monthly form their setup. Instead I use them to hold on.
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #1,045
  • Jul 10, 2017 1:31pm Jul 10, 2017 1:31pm
Quoting 9jatrader
The 11th June was closing below the middle band on the weekly chart while the daily, 12th June closed strongly below the lower band. Great movement,over 455 pips {image} {image}
Hi 9J,
Please excuse my inability to understand how to apply the weekly vs daily candle closings. YES, I have read from beginning and have watched each of the posts as they come thru. I would like to use your recent USDCAD posting as an example. Here is my problem: We look at the 12 June weekly close and see that it has closed below mid-band (that candle does not close until 16 June). Now, after the 16th, we go to the Daily to see if....and this is where my confusion may be...."ANY" candle during the week has closed below the lower band, or at the end of the week the Daily candle has closed? In this case, if any one of the Monday-Friday candles has closed below the lower band, we could/should enter a short trade? I guess my confusion comes when I see that I missed some of the downward move by waiting for the weekly candle to close (in retrospect of course). I do appreciate your patience, but once I understand the logic, I will be able to apply discipline to this strategy.
  • #1,046
  • Jul 10, 2017 2:28pm Jul 10, 2017 2:28pm
Quoting lctrader11
{quote} Hi 9J, Please excuse my inability to understand how to apply the weekly vs daily candle closings. YES, I have read from beginning and have watched each of the posts as they come thru. I would like to use your recent USDCAD posting as an example. Here is my problem: We look at the 12 June weekly close and see that it has closed below mid-band (that candle does not close until 16 June). Now, after the 16th, we go to the Daily to see if....and this is where my confusion may be...."ANY" candle during the week has closed below the lower band,...
I often use the word " Closing and closed".That weekly candle you pointed out opened on 11th June above the middle band. While it was gradually moving towards the across the middle band, the daily closed below the lower band. Then opportunity to join, even when the weekly is yet to close at the end of the week. I use the word "closed" when the daily closed above the lower band on Friday and while the weekly also closed below the middle band on Friday. Any problem let me know.
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #1,047
  • Jul 10, 2017 2:33pm Jul 10, 2017 2:33pm
The reason to get in when the weekly has not closed is the fact that it might be late and so SL may be triggered during retracement before obeying again
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #1,048
  • Jul 10, 2017 2:43pm Jul 10, 2017 2:43pm
AUDCHF bullish move is the pair am monitoring now. Am already bullish- the weekly strong Bullish Engulfing. I hope to use the strategy here to take another position(s)
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #1,049
  • Jul 10, 2017 2:51pm Jul 10, 2017 2:51pm
You sort of read my mind to my next question/observation: Reviewing several charts, I see that once the weekly candle crosses the mid-band, and then dropping to the Daily to see if that one crosses the outer band, a pullback often comes shortly after. Would it be advantageous to drop to the 4H to get an even better entry point by watching for a pullback in the opposite direction, and then enter in the same direction as the weekly with conviction. Am I understanding correctly?
  • #1,050
  • Jul 10, 2017 2:52pm Jul 10, 2017 2:52pm
When using the strategy, monitor strong support/resistance for your exit. I learned a big lesson in my NZDJPY I share at the beginning of this thread. i will be watching my USDJPY long around weekly resistance. If the weekly closes above the upper band after a long time I will remove my TP or widen it. It means that it will be more bullish after the resistance
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #1,051
  • Jul 10, 2017 2:54pm Jul 10, 2017 2:54pm
I already shared USDJPY when I got in
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #1,052
  • Jul 10, 2017 4:00pm Jul 10, 2017 4:00pm
Quoting lctrader11
You sort of read my mind to my next question/observation: Reviewing several charts, I see that once the weekly candle crosses the mid-band, and then dropping to the Daily to see if that one crosses the outer band, a pullback often comes shortly after. Would it be advantageous to drop to the 4H to get an even better entry point by watching for a pullback in the opposite direction, and then enter in the same direction as the weekly with conviction. Am I understanding correctly?
I have never tried the method. I focus on the weekly and the daily. If you intend to trade shorter TF like 4hr, you use the daily middle band and 4hr upper/lower bands
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #1,053
  • Jul 10, 2017 4:20pm Jul 10, 2017 4:20pm
when it's too late get into position, the best option is to stay away and wait for another trade
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #1,054
  • Jul 10, 2017 11:21pm Jul 10, 2017 11:21pm
I decide to use a pending, " Buy Stop" order on my AUDJPY short. As soon as the SL is triggered, the bullish positions takes effect from the same price of the short position SL. The bulls are too strong now and seem ready to break the resistance under which I place my short positions.
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #1,055
  • Jul 10, 2017 11:57pm Jul 10, 2017 11:57pm
For those who love 4hr in taking their positions this strategy is really doing great also. Just checking the daily and 4hr, I found out that while the daily was closing below the middle band 4hr had already closed below the lower band on NZDUSD. If only I could trade 4hr also using high lot to catch some pips
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #1,056
  • Edited 7:01am Jul 11, 2017 6:41am | Edited 7:01am
Quoting 9jatrader
For those who love 4hr in taking their positions this strategy is really doing great also. Just checking the daily and 4hr, I found out that while the daily was closing below the middle band 4hr had already closed below the lower band on NZDUSD. If only I could trade 4hr also using high lot to catch some pips
The pair is still doing great on the 4hr. Maybe I will include 4hr in my analyses. That may probably helps me to incorporate it into my trading
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #1,057
  • Jul 11, 2017 6:42am Jul 11, 2017 6:42am
Exiting will be on the daily support/resistance
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #1,058
  • Jul 11, 2017 4:00pm Jul 11, 2017 4:00pm
Alpari is a dead broker. I can't close my GBPJPY long
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #1,059
  • Jul 11, 2017 4:16pm Jul 11, 2017 4:16pm
Am away from using Alpari for backtest. Funny broker. I will delete it from TE
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #1,060
  • Jul 11, 2017 4:19pm Jul 11, 2017 4:19pm
What if it were live account with Apari? Watching profit sinking and finally wipe account

Am already short in another platform-GBPJPY

At least 770 pips to 1066 pips down the road. Positive points line up for the short setup. Firstly, price failed to break 147.864 resistance while stochastic was on overbought region. The main and signal had crossed each other and left overbought. Secondly, last candle was shooting star below the resistance.
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
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