Simple and profitable trading style | Page 75 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

NZD/JPY, USD/JPY

Similar Threads

Trading Made Very Simple and Profitable instructions 33 replies

The right thinking of the profitable trading in 3 simple steps. 14 replies

Indonesian Trader style - make trading simple 1 reply

Your consistently profitable trading style 37 replies

Gio's simple profitable trading quest 6 replies

Attachments: Simple and profitable trading style
Exit Attachments

Simple and profitable trading style

  • #1,481
  • Sep 10, 2017 4:48pm Sep 10, 2017 4:48pm
Market will finally decide if am or wrong. What keeps traders still going even when they are wrong is the money management. Knowing when to reduce/increase lot size
Make all mistakes in demo and rain in pips in live account
  • #1,482
  • Sep 10, 2017 4:52pm Sep 10, 2017 4:52pm
CADCHF informed me to exit my EURCAD short. There is where I use correlation to exit. I have been asked here and in the other thread what I watch out or informs me to exit. Please i might be wrong, but market is always right.
Make all mistakes in demo and rain in pips in live account
  • #1,483
  • Sep 11, 2017 6:32am Sep 11, 2017 6:32am
Quoting 9jatrader
We could see what Pinbar/Dragonfly is doing with USDCHF. Am scared of EURUSD long now. GBPCHF and USDCHF should have informed to get out. I enter not too long
GBPCHF weekly is closing above the middle band while the daily is closing above the upper band. Am not adding position on it, for fear of retracement, already over 200 pips.

It means that one can wait for USDCHF if one is not already in as it ( GBPCHF ) moves same direction with USDCHF
Make all mistakes in demo and rain in pips in live account
  • #1,484
  • Sep 11, 2017 7:01am Sep 11, 2017 7:01am
GBPCHF strongest correlated pairs, EURGBP is also doing great, closing below the lower band on the daily. The strategy I pointed out earlier on this pair was Gravestone Doji, 0.9305 high. It had the same setup on EURUSD. Only EG working and EU still milling around
Make all mistakes in demo and rain in pips in live account
  • #1,485
  • Sep 11, 2017 8:37am Sep 11, 2017 8:37am
Last time I said the USDJPY support breakout could be a fakeout. Same with USDCHF. They were too strong to fail. You would see what's happening on the daily. The bulls are back and possibly stronger by returning to the level again
Make all mistakes in demo and rain in pips in live account
  • #1,486
  • Sep 11, 2017 9:01am Sep 11, 2017 9:01am
GBPJPY long has same setup as GBPCHF. While the weekly is struggling to close above the middle band, the daily is closing above the upper band
Make all mistakes in demo and rain in pips in live account
  • #1,487
  • Sep 11, 2017 9:19am Sep 11, 2017 9:19am
I will repeat here again that in using this method, the longer TF candle should be used for sl, in case of possible retracement
Make all mistakes in demo and rain in pips in live account
  • #1,488
  • Sep 11, 2017 9:21am Sep 11, 2017 9:21am
What I mean is that in using the weekly middle band and daily upper band the sl should be below the low price of the bullish weekly candle. Opposite is the case with bearish position
Make all mistakes in demo and rain in pips in live account
  • #1,489
  • Sep 11, 2017 9:23am Sep 11, 2017 9:23am
Then for daily middle band and 4hr upper band, the sl should be below the low price of the daily bullish candle. Opposite is the case with bearish position
Make all mistakes in demo and rain in pips in live account
  • #1,490
  • Sep 11, 2017 4:48pm Sep 11, 2017 4:48pm
Quoting 9jatrader
It may just be a fakeout
you were spot on. nice one
  • #1,491
  • Sep 11, 2017 5:42pm Sep 11, 2017 5:42pm
Quoting candyman752
{quote} you were spot on. nice one
Dragonfly/Pinbar or hammer with bullish body on support hardly fail
Make all mistakes in demo and rain in pips in live account
  • #1,492
  • Sep 12, 2017 6:38am Sep 12, 2017 6:38am
Quoting 9jatrader
GBPJPY long has same setup as GBPCHF. While the weekly is struggling to close above the middle band, the daily is closing above the upper band
Wow, great move on the two pairs. Sometimes the strategy ignore retracement and works so well
Make all mistakes in demo and rain in pips in live account
  • #1,493
  • Sep 12, 2017 6:50am Sep 12, 2017 6:50am
EURUSD, is the one not working accordingly. EURGBP, EURNZD are doing great
Make all mistakes in demo and rain in pips in live account
  • #1,494
  • Edited 8:59am Sep 12, 2017 8:16am | Edited 8:59am
Just taken $500 to $1333. The trade still open
Make all mistakes in demo and rain in pips in live account
  • #1,495
  • Sep 12, 2017 9:00am Sep 12, 2017 9:00am
NZDCHF almost escape me on the daily. I should have got in earlier, this morning. Not too late
Make all mistakes in demo and rain in pips in live account
  • #1,496
  • Sep 12, 2017 9:03am Sep 12, 2017 9:03am
It strongly reacted to July,2016 support, now still acting as support, 0.6368 level
Make all mistakes in demo and rain in pips in live account
  • #1,497
  • Sep 12, 2017 9:06am Sep 12, 2017 9:06am
I decided to place a buy stop order on today's high price. Also using the daily middle band and 4hr upper band and EURNZD bearish bias informed me
Make all mistakes in demo and rain in pips in live account
  • #1,498
  • Sep 12, 2017 3:25pm Sep 12, 2017 3:25pm
It's interesting to see what Dragonfly/pinbar could do on GBPCHF. Not all are reliable. When they form at the wrong place it can be dangerous. But this one was formed on support
Make all mistakes in demo and rain in pips in live account
  • #1,499
  • Sep 12, 2017 3:35pm Sep 12, 2017 3:35pm
Just two weeks 400 pips.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpchftt.png Size: 46 KB
Make all mistakes in demo and rain in pips in live account
  • #1,500
  • Sep 12, 2017 4:01pm Sep 12, 2017 4:01pm
It's interesting to wait for setup on/around support and below/around resistance. Even though market may sometimes prove otherwise there is higher probability that finally works. Example was the USDCHF ( Dragonfly/Pinbar ) on/around support and USDJPY ( strong Hammer with bullish body ) also on support. It's just patience that's needed.
Make all mistakes in demo and rain in pips in live account
12 traders viewing now