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Simple Low Risk Price Action Trading w/ TE Results

  • #21
  • Sep 17, 2017 1:35pm Sep 17, 2017 1:35pm
Quoting Embry1
{quote} You can certainly trade it that way. I recommend loading up the indicators or template and finding where the signals line up and see if you would benefit from entering once the stoch reaches above 30 or below 70. What is going to happen just like any system is that if you wait to enter, you may have a higher win rate, but your risk/reward will suffer because you will have to increase your stop loss and decrease your target profit due to the market already moving. This may differ for each trader and their comfort level but I would rather...
Thanks
  • #22
  • Sep 17, 2017 2:57pm Sep 17, 2017 2:57pm
GUYS BE AWARE FROM HUNTING YOUR STOP LOSSES BY YOUR BROKER & BY "GHOSTS"
  • #23
  • Sep 17, 2017 3:01pm Sep 17, 2017 3:01pm
2 SIGNALS IN ONE PAIR
4/5
5/5

GOOD ANALYSIS



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GUYS BE AWARE FROM HUNTING YOUR STOP LOSSES BY YOUR BROKER & BY "GHOSTS"
  • #24
  • Sep 17, 2017 3:03pm Sep 17, 2017 3:03pm
Also it can be coded into an ea. Direct code will fit.
GUYS BE AWARE FROM HUNTING YOUR STOP LOSSES BY YOUR BROKER & BY "GHOSTS"
  • #25
  • Sep 17, 2017 3:26pm Sep 17, 2017 3:26pm
Quoting Samer1970
2 SIGNALS IN ONE PAIR 4/5 5/5 GOOD ANALYSIS {image}
Thanks! A lot of the time in a trend you'll see the signals repeat two or three times in a day on the same pair on the 15 minute chart.
  • #26
  • Sep 17, 2017 4:28pm Sep 17, 2017 4:28pm
Here's another absolute beauty. With 4/4 signals, exiting when the PSAR is broken seems to be the best possible exit for the best risk/reward.
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  • #27
  • Sep 17, 2017 10:44pm Sep 17, 2017 10:44pm
Hello,
I think this is a good strategy. I have been using SAR and moving average for awhile now. The results are good
  • #28
  • Sep 18, 2017 5:47am Sep 18, 2017 5:47am
Each hr,can we move our stop loss trailing the SAR by the -5 pips ?
  • #29
  • Sep 18, 2017 6:59am Sep 18, 2017 6:59am
Quoting nihilist23uk
Each hr,can we move our stop loss trailing the SAR by the -5 pips ?
Depends on the trade, on a strong 4/4 signal I would recommend looking for an exit based on the PSAR breaking so you could trail it behind the PSAR. Especially if there's a lot of room between the PSAR and middle bollinger band or EMA 100.
  • #30
  • Edited 12:28pm Sep 18, 2017 7:20am | Edited 12:28pm
Seeing a decent setup on CADJPY 1H, I'm a little late to the party though on this. PSAR is a little further away than I'd like it so SL would be under middle bollinger band or last candle.
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  • #31
  • Sep 18, 2017 8:07am Sep 18, 2017 8:07am
Here are the "by the book" 4/4 signal opportunities this morning (for me, US trader) on the 15 minute chart. The only one I took is the EUR/USD because I wake up at around 6:45 Central time and just missed CHF/JPY and EUR/JPY signals.
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  • #32
  • Edited 1:28pm Sep 18, 2017 12:34pm | Edited 1:28pm
Demo wouldn't let me trade USD/JPY at the time I saw this signal but squeezed a few pips on this one on my live account. Most of the 15 minute chart trades should be 10-20 pip trades. Find a few of these a day and a few great 1H setups during the week and you have a great recipe for success. There really hasn't been much action for this strategy today unfortunately.

EDIT: What a nice gift here, saw a good opportunity forming on the USD/CAD just before the news and it worked out really well. It wasn't flawless but it did turn into a 67 pip profit which is what I needed today. Keep in mind if this broke the PSAR and if it broke the middle bollinger band as well it would have hit my SL. When I enter a 4/4 trade my risk will be from my entry until the point where only 2/4 signals line up. Since the PSAR, bollinger band, and the trade price were so close there was minimal risk on the trade. Exit was 1.2299.
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  • #33
  • Sep 18, 2017 5:25pm Sep 18, 2017 5:25pm
Hi Embry1,
Took a couple today on hr but both failed.If you could dissect for me and let me know if i made a mistake id be grateful.
I think the audjpy might just be a failed trade,and the audusd might be something to do with the fact price had already crossed ma and centre bb what do you think?
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  • #34
  • Sep 18, 2017 5:48pm Sep 18, 2017 5:48pm
Quoting nihilist23uk
Hi Embry1, Took a couple today on hr but both failed.If you could dissect for me and let me know if i made a mistake id be grateful. I think the audjpy might just be a failed trade,and the audusd might be something to do with the fact price had already crossed ma and centre bb what do you think? {image} {image}
For the AUD/JPY trade there was a previous 4/4 signal on the same PSAR line. Always cross check the 15 minute chart if you're looking to enter on the 1H and check the 1H if you're entering the 15 minute time frame. It was pretty extended at that point even though there was a valid signal. For an EA, it probably would have taken the trade but for better results you need the human factor. Luckily an appropriate stop loss would have been below the middle bollinger band and PSAR which was very close to the price at the time of the signal. The first signal also had a much better risk/reward opportunity whereas the second one did not. I think you could have planned for a 1:1 but just barely.

The AUD/USD trade was not valid from what I'm seeing. The PSAR is below the EMA and middle bollinger band. Even if you took this trade where you did you also have a very small stop loss due to the price being just a couple pips above the EMA and middle bollinger band. A decent setup would easily take you into profit after both of those losses.

Also important to note, it looks like you did this but just to be aware. In most cases when you see the signals line up, let that candle close and enter on the next one if the signals still line up.
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  • #35
  • Sep 18, 2017 6:04pm Sep 18, 2017 6:04pm
[quote=Embry1; The PSAR is below the EMA and middle bollinger band. Also even if you took this trade where you did you also have a very small stop loss due to the price being just a couple pips above the EMA and middle bollinger band. A decent setup would easily take you into profit after both of those losses. Also important to note, it looks like you did this but just to be aware. In most cases when you see the signals line up, let that candle close and enter on the next one if the signals still line up. {image} {image}[/quote]

OK,so sar needs to be on the right side ma and not just price ! OK thank you for your help. Yes,I have been waiting for the candle to close before taking the trades and I was going to ask about that so glad you mentioned it.
I will have another go tmrw with the extra knowledge and see how I go.

When you say " check 15min" if trading on hr what are we looking for ? stoch agreeing on both 15min and 1hr ?
  • #36
  • Sep 18, 2017 6:19pm Sep 18, 2017 6:19pm
Quoting nihilist23uk
{quote} OK,so sar needs to be on the right side ma and not just price ! OK thank you for your help. Yes,I have been waiting for the candle to close before taking the trades and I was going to ask about that so glad you mentioned it. I will have another go tmrw with the extra knowledge and see how I go. When you say " check 15min" if trading on hr what are we looking for ? stoch agreeing on both 15min and 1hr ?
Stoch doesn't have to agree, EMA 100 is pretty important though. Just take the same principles and make sure you don't have anything major (like all signals showing the opposite direction). Checking the 1H chart when entering on the 15 minute is going to help you determine how much room you have for a TP or even a SL. Checking the 15 minute chart for entering the 1H time frame is going to help you get a better entry.
  • #37
  • Sep 18, 2017 6:26pm Sep 18, 2017 6:26pm
Quoting Embry1
{quote} Stoch doesn't have to agree, EMA 100 is pretty important though. Just take the same principles and make sure you don't have anything major (like all signals showing the opposite direction). Checking the 1H chart when entering on the 15 minute is going to help you determine how much room you have for a TP or even a SL. Checking the 15 minute chart for entering the 1H time frame is going to help you get a better entry.
  • #38
  • Sep 18, 2017 8:24pm Sep 18, 2017 8:24pm
you should try it with renko..
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  • #39
  • Sep 19, 2017 7:20am Sep 19, 2017 7:20am
Quoting jooshset
you should try it with renko.. {image} {image}
Not opposed to it, would you share a link to the tool you're using? Or just attach the file. I'll take a look at it to see if it helps. So far I haven't needed an additional indicator but anything constructive to the strategy is appreciated.
  • #40
  • Sep 19, 2017 9:54am Sep 19, 2017 9:54am
There were quite a few good looking signals this morning before I woke up, which is making me extremely consider waking up earlier. I haven't seen a worthwhile setup yet this morning so I'm still sitting on my hands. However I did want to point out this setup and there was a couple more similar. Seeing these kind of opportunities happen while I sleep does make me want this as an EA a bit. Absolutely perfect risk reward opportunity on this one.

Side note, I got a message from someone trying to post on this thread but couldn't. Has anyone else experienced this? If so PM me. The person was not ignored or blocked and thread is open to everyone so it shouldn't be blocking anyone.
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