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Simple and profitable trading style

  • #1,241
  • Jul 28, 2017 12:44pm Jul 28, 2017 12:44pm
Quoting 9jatrader
{quote} I lost here. Price rejected the weekly lower band and the daily finally closed above the broken support ( that was acting as resistance ). I have to join the bulls
How does the strategy works if the condition is :
1. Weekly candle and daily candle, both are below lower bb Or both are above upper bb? Tq
  • #1,242
  • Jul 29, 2017 8:22am Jul 29, 2017 8:22am
Quoting 9jatrader
{quote} It was weekend. There was no need
What is that mean "it was weekend, there was no need"? Weekly candle of course closed at weekend,right?
  • #1,243
  • Jul 29, 2017 8:36am Jul 29, 2017 8:36am
Quoting 9jatrader
{quote} Am already short on AUDCAD. They're correlated
What is that mean of "short" ? And there is sometimes "long"
  • #1,244
  • Jul 29, 2017 10:04am Jul 29, 2017 10:04am
Quoting 9jatrader
The most unsuccessful positions I have with this strategy are the GBP pairs. Could Brexit be responsible for it? They're just milling around after entry.
Is this strategy still no valid for gbp pairs till right now?
  • #1,245
  • Jul 30, 2017 7:08am Jul 30, 2017 7:08am
Quoting Michaelll
{quote} What is that mean of "short" ? And there is sometimes "long"
You have to go and learn the fundamentals/terminology of forex trading- go and learn the basics first
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #1,246
  • Jul 30, 2017 7:12am Jul 30, 2017 7:12am
Hi MichaelIII,
If you don't know where to start from, go to school of babypips- www.babypips.com and start there. Then we can discuss here. The thread will always be here.
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #1,247
  • Jul 30, 2017 7:21am Jul 30, 2017 7:21am
CADCHF broke the resistance I pointed out while the weekly still remains on the overbought region. It was a mistake closing, on the daily while the weekly was giving signal. Forex is like school- platform for learning. I have already added this observation to my strategy/journal
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #1,248
  • Jul 30, 2017 9:34am Jul 30, 2017 9:34am
Quoting 9jatrader
GBPCHF: I have said something about this and am already long and I shared the charts- weekly and the daily
After it triggered my SL it found support again, while stochastic is leaving oversold {quote} 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[/quote]

GBPCHF has made second trade setup based on the strategy here. The first one was returned and triggered my SL. I got in again using the lower band rejection. The weekly closed above the middle band, while the daily closed above the upper band again. The interesting thing now is that it has broken the resistance that returned the first setup.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpchfbb.png Size: 47 KB
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #1,249
  • Jul 30, 2017 9:36am Jul 30, 2017 9:36am
I may possibly take another position and then move the SL of the previous positions, in case market turns wild against me
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #1,250
  • Jul 30, 2017 9:37am Jul 30, 2017 9:37am
I mean moving it to breakeven
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #1,251
  • Jul 30, 2017 9:39am Jul 30, 2017 9:39am
The previous position is already 311 pips for now. Hope to ride and maximize the profit.The great thing is the positive swap on the pair.
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #1,252
  • Jul 30, 2017 9:57am Jul 30, 2017 9:57am
For those who love and have time for shorter TF, here would have been great setup on CHFJPY short. The daily was closing below the middle band while the 4hr closed below the lower band, 239 pips for now. Whether it will go further I can't tell, because it be too late on the shorter TF, and there is possibility of strong retracement
Attached Image (click to enlarge)
Click to Enlarge Name: chfjpyvv.png Size: 33 KB
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #1,253
  • Jul 30, 2017 12:04pm Jul 30, 2017 12:04pm
Quoting 9jatrader
Hi MichaelIII, If you don't know where to start from, go to school of babypips- www.babypips.com and start there. Then we can discuss here. The thread will always be here.
Hi 9jatrader, i'm not really a newbie, i understand b.band strategy u teach, but maybe some words that i dont understand(maybe my english isnt good enough) so i asked it to make sure what i think in my mind is like what u teach, so there is no missunderstanding in text-line, tq before
  • #1,254
  • Jul 30, 2017 12:17pm Jul 30, 2017 12:17pm
Quoting Michaelll
{quote} Hi 9jatrader, i'm not really a newbie, i understand b.band strategy u teach, but maybe some words that i dont understand(maybe my english isnt good enough) so i asked it to make sure what i think in my mind is like what u teach, so there is no missunderstanding in text-line, tq before
Ok. I was surprised when you did not get what I mean by short and long. Going long is to "Buy" and short is "Sell". For example CADCHF ( long )- you go long means you're buying CAD and the same time selling CHF. CADCHF ( short )- you're selling CAD and the same time buying CHF. It doesn't matter if we have been in the business for long. We always have something to learn everyday. Don't get offended. I recommended Babypips because we're ignorant of anything in the market, she will show a bitter way- lost our hard earned money
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #1,255
  • Jul 30, 2017 12:21pm Jul 30, 2017 12:21pm
There are some terminology/terms/words that are related to trading that we need to learn. What would happen when I start talking about correlation of some pairs.
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #1,256
  • Jul 31, 2017 3:55am Jul 31, 2017 3:55am
Quoting 9jatrader
If you want to compete with other traders, head on to Tickmil Demo contest.
Have you personally tried your hand in that? The prize pool is capped while trading on your own has no limits. Still should be very interesting contest for newbies.
  • #1,257
  • Jul 31, 2017 6:06am Jul 31, 2017 6:06am
Quoting 9jatrader
{quote} Ok. I was surprised when you did not get what I mean by short and long. Going long is to "Buy" and short is "Sell". For example CADCHF ( long )- you go long means you're buying CAD and the same time selling CHF. CADCHF ( short )- you're selling CAD and the same time buying CHF. It doesn't matter if we have been in the business for long. We always have something to learn everyday. Don't get offended. I recommended Babypips because we're ignorant of anything in the market, she will show a bitter way- lost our hard earned money
By all mean, thz a lot for the detail explaination, but simple answer long=buy, short=sell, i got it. I just dont want u get bored when u answer somebody question, wkwkwk. By the way, i dont get offended. Also tq for babypips.com info. What a nice person of u
  • #1,258
  • Jul 31, 2017 7:23am Jul 31, 2017 7:23am
Quoting Michaelll
{quote} By all mean, thz a lot for the detail explaination, but simple answer long=buy, short=sell, i got it. I just dont want u get bored when u answer somebody question, wkwkwk. By the way, i dont get offended. Also tq for babypips.com info. What a nice person of u
I will not be bored by anybody's questions. I decided to mention Babypips because the guys there did great job on the web on so many trading related topics. Those who have been on this and the other thread have probably read that I still follow some of the bloggers, especially Dr. Pipslow on trading psychology
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #1,259
  • Jul 31, 2017 7:34am Jul 31, 2017 7:34am
Quoting available
{quote} Have you personally tried your hand in that? The prize pool is capped while trading on your own has no limits. Still should be very interesting contest for newbies.
Am currently in the contest. As I have said earlier there are crazy traders in the contest, and I have not been doing well in it. Tomorrow we will star August. I must say the contest has nothing to do with "Newbie" or not. The first position has made $3.129million profit with $10000, leverage 1:500. The account and the leverage are the same for all traders. You can't change them. They are already set.
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #1,260
  • Jul 31, 2017 7:37am Jul 31, 2017 7:37am
My mistake was entering a retracement on AUDJPY short. This means negative swap for me. In the next content I will never buy currency of lower interest rate, instead buy the one of high interest rate and sell the one of lower interest rate. The higher the lot size the higher the either positive or negative swap.
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
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