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Simple and profitable trading style

  • #1,201
  • Jul 25, 2017 4:54pm Jul 25, 2017 4:54pm
Quoting 9jatrader
They are different from GBPJPY weekly-it failed to close above the weekly upper band. The trio- CADJPY, CHFJPY and EURJPY will test what I know, that when candle closes above the upper band after a long time it means the bulls want to continue. Opposite is the bearish position
CADJPY resistance breakout on the daily. Great move now
Make all mistakes in demo and rain in pips in live account
  • #1,202
  • Jul 25, 2017 5:00pm Jul 25, 2017 5:00pm
Quoting Nahmad554
{quote} Bro any idea about eurousd...will it go down or gone up..?
No one can tell the direction Bro. Am already long and I shared the setup analyses here and the EURUSD thread
Make all mistakes in demo and rain in pips in live account
  • #1,203
  • Jul 25, 2017 5:08pm Jul 25, 2017 5:08pm
GBPCHF: I have said something about this and am already long and I shared the charts- weekly and the daily [/quote]

After it triggered my SL it found support again, while stochastic is leaving oversold

Quoting 9jatrader
I will repeat, when your SL is triggered, don't worry. For long position you wait for lower band rejection to get in again. Check my running NZDJPY long. My SL was initially triggered. I waited when candles consistently reject lower band and I got in again and I closed with over 400 pips before US election, then re-entered and still running. You would observed that CADJPY and CHFJPY did not retrace as NZDJPY, though there was noise around them because of the US election.
This is what happened with GBPCHF. The SL was triggered. Then I have to wait for lower band rejection to get in again. Stochastic has added more confidence now

Same thing happened with USDJPY I shared and how/when the SL was triggered. It retraced and during lower band rejection formed Pinbar/Dragonfly. I have to get in again. For those who have been on this thread already knew the reason I do get in again. For the purpose of those who are new to the thread, I get in again because the movement was affected by retracement- the setup already established, just that it faces retracement
Make all mistakes in demo and rain in pips in live account
  • #1,204
  • Jul 25, 2017 5:26pm Jul 25, 2017 5:26pm
The strategy still remains simple- I take losses.
Make all mistakes in demo and rain in pips in live account
  • #1,205
  • Jul 25, 2017 5:50pm Jul 25, 2017 5:50pm
Quoting 9jatrader
{quote} I was also afraid of the strong shooting star, daily- the red mark that had brought the pair down so strongly. Am more comfortably now that the price is above it. It may come strongly to retest the broken resistance, and so we need better SL. am already in profit, using better lot size, trusting in the setup/breakout {image}
Here is the EURUSD analyses
Make all mistakes in demo and rain in pips in live account
  • #1,206
  • Jul 25, 2017 8:24pm Jul 25, 2017 8:24pm
the most simple method that is profitable in trading? trading major support and resistance lines.

go to your daily and 12 hour charts, draw the lines, wait for the price to get to one of them and shows signs of indecision (candles with no bodies or very small bodies and long pins)

are you still listening? if so, all you need to do is to add the proper risk and money management to your trades, and then statistically bet on the moves from those lines with a high risk to reward ratio (like 1:3 or higher)

with a risk to reward ratio of 1:3 you only need to be right 25% of the time to breakeven and if you guess the move correctly 33% of the time, you are making profit.



so yeah, you will be profitable. but unless you have a huge capital already, you won't make that much money from trading the most simple methods.
  • #1,207
  • Jul 26, 2017 4:17am Jul 26, 2017 4:17am
Any Picture will help, man.
Thanks,
HC
  • #1,208
  • Jul 26, 2017 5:03am Jul 26, 2017 5:03am
Quoting hhchenfx
Any Picture will help, man. Thanks, HC
You're very correct, so that others can learn from what he is saying
Make all mistakes in demo and rain in pips in live account
  • #1,209
  • Jul 26, 2017 4:11pm Jul 26, 2017 4:11pm
If only I have the time to start another thread basically focusing on correlation
Make all mistakes in demo and rain in pips in live account
  • #1,210
  • Jul 26, 2017 4:18pm Jul 26, 2017 4:18pm
NZDJPY bulls are back and am glad to join them now. This was one of the great pairs that had earned great pips
Make all mistakes in demo and rain in pips in live account
  • #1,211
  • Jul 26, 2017 4:20pm Jul 26, 2017 4:20pm
The reason is that the bullish candle finally closed above upper band on the daily, after moving along tight range for a while
Make all mistakes in demo and rain in pips in live account
  • #1,212
  • Jul 26, 2017 4:30pm Jul 26, 2017 4:30pm
About correlation, EURUSD are negatively correlated with NZDUSD and AUDUSD. Using strong setup on EURUSD can be used to monitor the other two.
Make all mistakes in demo and rain in pips in live account
  • #1,213
  • Jul 26, 2017 4:37pm Jul 26, 2017 4:37pm
Quoting 9jatrader
I have decided to apply for Tickmill Demo contest and see how it goes. My first position is AUDJPY short. I wish myself good luck
Those at the contest are crazy traders. My first position cost me a lot. And so am practicing for the next month contest by having the same account size- $10000 and leverage of 1:500. For now I have four accounts for each position
Make all mistakes in demo and rain in pips in live account
  • #1,214
  • Jul 26, 2017 4:57pm Jul 26, 2017 4:57pm
I have AUDUSD, NZDUSD and NZDJPY on the practice. Hope to be among ten winners some day, no one can tell
Make all mistakes in demo and rain in pips in live account
  • #1,215
  • Jul 27, 2017 8:26am Jul 27, 2017 8:26am
Hi,
What do you think about the CADCHF, the Buy is similar to your method.
I quite over-traded it and not quite sure where to get out or Stoploss should be.
Any discussion.
HC
Attached Image (click to enlarge)
Click to Enlarge Name: Untitled.png Size: 103 KB
  • #1,216
  • Jul 27, 2017 12:30pm Jul 27, 2017 12:30pm
Quoting hhchenfx
Hi, What do you think about the CADCHF, the Buy is similar to your method. I quite over-traded it and not quite sure where to get out or Stoploss should be. Any discussion. HC {image}
I have been in the position since with the strategy. I would advise you hold on if you have been also. Stochastic is already on overbought region on the weekly and it's breaking the the November, 2015 resistance. Am still holding on to my positions
Attached Image (click to enlarge)
Click to Enlarge Name: cadchfbb.png Size: 41 KB
Make all mistakes in demo and rain in pips in live account
  • #1,217
  • Jul 27, 2017 12:32pm Jul 27, 2017 12:32pm
It's correlated with EURCAD, that has refused to crash down
Make all mistakes in demo and rain in pips in live account
  • #1,218
  • Jul 27, 2017 12:34pm Jul 27, 2017 12:34pm
Hi Hhchenfx,
Thanks for drawing our attention to it. I even shared the setup analyses when it was being formed, though I did not share the chart
Make all mistakes in demo and rain in pips in live account
  • #1,219
  • Jul 27, 2017 1:37pm Jul 27, 2017 1:37pm
Are the USDCAD bears giving up? It's strongly reacting to May 2016 strong resistance, 1.24442
Make all mistakes in demo and rain in pips in live account
  • #1,220
  • Jul 27, 2017 1:38pm Jul 27, 2017 1:38pm
It has been on my watch list.
Make all mistakes in demo and rain in pips in live account
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