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The daily strategy - the different point of view

  • #141
  • Jul 27, 2017 2:42pm Jul 27, 2017 2:42pm
Quoting FxHelp
The Daily Open Market Opens first hour .. break outside first hour in asian session, then around Frankfurt price moves back toward open ( not exactly sometimes) or a reference point near the open, and then price continues with the break. The Open is the main pivot in anytime frame. The close is the 2nd pivot The High and Low are the 3rd
make candle indicator with open of london session and it will be accurate then candle from broker server
Risk comes from not knowing what you're doing.
  • #142
  • Jul 27, 2017 2:50pm Jul 27, 2017 2:50pm
That seems like that what I'm experiencing. It's a little unclear though please go into detail with the previous dragon guy.
  • #143
  • Jul 27, 2017 2:53pm Jul 27, 2017 2:53pm
Quoting dragonexpert
{quote} make candle indicator with open of london session and it will be accurate then candle from broker server
Yes but this fails if the price is in a trend.
It takes money to make money.
  • #144
  • Jul 27, 2017 2:53pm Jul 27, 2017 2:53pm
I'm looking for an indicator that plots the daily open on the chart as a horizontal lines so I can use it to place my entry on it with 3 pips from that being my take profit
  • #145
  • Jul 27, 2017 2:56pm Jul 27, 2017 2:56pm
Quoting ewebb205
I'm looking for an indicator that plots the daily open on the chart as a horizontal lines so I can use it to place my entry on it with 3 pips from that being my take profit
With a TP of 3 pips, what pips is your SL? I assume you're doing this without a SL. But as I mentioned in my previous post, what if the price is in a trend? This would result in a loss since price is "trending" away from the open (or huge loss if no SL).
It takes money to make money.
  • #146
  • Jul 27, 2017 2:58pm Jul 27, 2017 2:58pm
I think this indi shows the opens. needs Modifications
Attached File(s)
File Type: ex4 Delicate_Levels_V1.ex4   13 KB | 313 downloads
File Type: mq4 Delicate_Levels_V1.mq4   4 KB | 373 downloads
Frank Fadi
  • #147
  • Jul 27, 2017 3:01pm Jul 27, 2017 3:01pm
also this indi might be helpful in determining the open
Attached File(s)
File Type: ex4 !crodzilla-Price action V8-MTF.ex4   22 KB | 332 downloads
File Type: mq4 !crodzilla-Price action V8-MTF.mq4   10 KB | 359 downloads
Frank Fadi
  • #148
  • Jul 27, 2017 3:07pm Jul 27, 2017 3:07pm
Quoting Harpy
{quote} With a TP of 3 pips, what pips is your SL? I assume you're doing this without a SL. But as I mentioned in my previous post, what if the price is in a trend? This would result in a loss since price is "trending" away from the open (or huge loss if no SL).
I don't use a sl my theory proves that on a daily chart price moves at least 3 pips above and below market open
There's a few days out of the year that there is no wicks on the daily candle.
  • #149
  • Jul 27, 2017 3:10pm Jul 27, 2017 3:10pm
Quoting ewebb205
{quote} I don't use a sl my theory proves that on a daily chart price moves at least 3 pips above and below market open There's a few days out of the year that there is no wicks on the daily candle.
Okay, good luck with that. It may work for a while but I assure you, it takes only that one time of it not working to wipe you out. Even if you use some other form of equity stop, if the risk to reward isn't right with your win rate, it's just a matter of time before the wheels come off.
It takes money to make money.
  • #150
  • Jul 27, 2017 3:11pm Jul 27, 2017 3:11pm
Quoting Harpy
{quote} With a TP of 3 pips, what pips is your SL? I assume you're doing this without a SL. But as I mentioned in my previous post, what if the price is in a trend? This would result in a loss since price is "trending" away from the open (or huge loss if no SL).
I don't trade chart trends. By the time you see a trend, that means the trend is already established and it'll be over soon. The only way to trade a trend is off a reversal. But would trying to find the next a pivot point. And then tomorrows news event could destroy the trend and then your losing now.
  • #151
  • Jul 27, 2017 3:17pm Jul 27, 2017 3:17pm
Risk ratio? 95% of traders fail. Risk ratio is a way for smart money to keep you in a position long enough to go from winning to losing. Are you reading everything these website tell you? The markets makes everything thing sound good and thrilling " wow! I can triple what I risk?"
Man that shit don't work. All the win:lose pyramids they
teaching," one win can make up for three losses" is crap.
I'll attach my jun track record hold on
  • #152
  • Jul 27, 2017 3:21pm Jul 27, 2017 3:21pm
Better yet when I get off work Ill screenshot my mt4.
  • #153
  • Jul 27, 2017 3:24pm Jul 27, 2017 3:24pm
Quoting ewebb205
Risk ratio? 95% of traders fail. Risk ratio is a way for smart money to keep you in a position long enough to go from winning to losing. Are you reading everything these website tell you? The markets makes everything thing sound good and thrilling " wow! I can triple what I risk?" Man that shit don't work. All the win:lose pyramids they teaching," one win can make up for three losses" is crap. I'll attach my jun track record hold on
Okay but that's for June. Usually it takes 3 months for the wheels to come off on a strategy that has any substantial return. Do it for July and August as well and then I'd say okay, you're doing something different. Then, do it for 12 months and you'll make a believer out of almost anybody. But I'm sure at that point, you won't be here anymore. Instead, you'll be in Hawaii
It takes money to make money.
  • #154
  • Jul 27, 2017 3:26pm Jul 27, 2017 3:26pm
I refer to forex as a remote control car on the interstate.
This is a business for banks not retail. So the only way to survive is to protect what you got and get what ever you can. I use to let trades run. I let trades run for days on the daily tf. One week later a news spike will eat all the profits. Fuck letting trades run( time x money value = not worth it)
So I get it and go.
  • #155
  • Jul 27, 2017 3:28pm Jul 27, 2017 3:28pm
Quoting ewebb205
I refer to forex as a remote control car on the interstate. This is a business for banks not retail. So the only way to survive is to protect what you got and get what ever you can. I use to let trades run. I let trades run for days on the daily tf. One week later a news spike will eat all the profits. Fuck letting trades run( time x money value = not worth it) So I get it and go.
There is no conspiracy other than the scams that exist in any business or industry whether it's the mom and pop shop down the street or the government. A good retail trader can beat the pants off of any city trader. Look at the leverage difference for one thing.
It takes money to make money.
  • #156
  • Jul 27, 2017 3:29pm Jul 27, 2017 3:29pm
Well obviously I brought my strategy on here for suggestions questions comments and concerns.
Did you not see my revision earlier today?
Once all the kinks are out I start a fresh track record from month to month- year to year. I'm close I can feel it.
  • #157
  • Jul 27, 2017 3:32pm Jul 27, 2017 3:32pm
Quoting Harpy
{quote} Your question shows such lack of understanding about how things work but I'll try. ForexFactory is a forum, is not meant to be a portal connecting to your broker for placing trades. You could try TradingView but I haven't used them for placing trades so I can't help.
Oh yeah and stop fucking bashing people and be of some assistance. The banks are your enemy dumdum. Retail traders aren't.
  • #158
  • Jul 27, 2017 3:34pm Jul 27, 2017 3:34pm
Quoting FxHelp
also this indi might be helpful in determining the open {file} {file}
Thank you fxhelp
  • #159
  • Edited 4:43pm Jul 27, 2017 4:11pm | Edited 4:43pm
And when comes the system? My head is near to explode the excitment is too big!

The big Problem I See is the spread here and the big risk you take with every trade. For such a strategy o think a nice hedging idea could help. Im sorry if you spoke about that before but do you use a straddle? Or oco?

3 pips target 50 pips risk. After one month you are in sure profit
I used a equity simulator. And with this settings a winrate of 99% what is needed in my opinion. Will work really well

Max looser in row 3 max Wins in row 324. But when the 3 loosers in row hit it will hurt the profit alot.
So a good trade management and money Management.
Think further than I dont set a stop loss and wait until the price will come back.
Everyday better.
  • #160
  • Jul 27, 2017 4:34pm Jul 27, 2017 4:34pm
A few more hours. Nice sarcasm
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