Simple Low Risk Price Action Trading w/ TE Results | Page 6 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Trading is this Simple? Finally Explained simple and clearly! 46 replies

Compounding my Wealth using Simple Price Action Trading on Daily Charts 67 replies

A Simple Low Risk Daily Strategy 18 replies

Simple Price Action Scalping 5 replies

Simple Price Action Code 3 replies

Attachments: Simple Low Risk Price Action Trading w/ TE Results
Exit Attachments

Simple Low Risk Price Action Trading w/ TE Results

  • #101
  • Sep 22, 2017 7:33am Sep 22, 2017 7:33am
GM, wonder if you would have taken the entry in the attached? If so would you have taken a 12-15 pip win, stop out at BE, or what? H1 shows OB stoch should that have been warning maybe? Anything I'm missing about whether to have gotten into this trade or not from the beginning? Appreciate your input.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 42 KB
  • #102
  • Sep 22, 2017 7:47am Sep 22, 2017 7:47am
Quoting vikvikram
GM, wonder if you would have taken the entry in the attached? If so would you have taken a 12-15 pip win, stop out at BE, or what? H1 shows OB stoch should that have been warning maybe? Anything I'm missing about whether to have gotten into this trade or not from the beginning? Appreciate your input. {image}
So yes it's a great setup for sure. If you cross check the 1H chart you would see that it was massively overextended and coming up on resistance. However there is still room for a 1:1 risk reward so you could have certainly taken this but you would have to have a great entry and zero greed.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 092217 EURUSD 1.JPG Size: 323 KB
Click to Enlarge Name: 092217 EURUSD 2.JPG Size: 133 KB
  • #103
  • Sep 22, 2017 8:06am Sep 22, 2017 8:06am
Thanks. Watching the M1 TF it seems the divergence indi has at least a 1 bar lag so for the best entry R:R wise we are back to the 70/30 stoch cross with the divergence providing after the fact assurance. Curious about others experience
  • #104
  • Sep 22, 2017 9:04am Sep 22, 2017 9:04am
Bugger !
Just took out my stop loss before going south ! put stop 5 pips behind sar,just too tight for this one.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 291 KB
  • #105
  • Sep 22, 2017 9:43am Sep 22, 2017 9:43am
Quoting nihilist23uk
Bugger ! Just took out my stop loss before going south ! put stop 5 pips behind sar,just too tight for this one. {image}
Did you adjust your stop loss? That one should have been a winner. If you placed your stop loss just above the PSAR and middle bollinger band at the point of the signals lining up it would have missed it.
Attached Image (click to enlarge)
Click to Enlarge Name: 092217 GBPAUD 1.JPG Size: 1,013 KB
  • #106
  • Sep 22, 2017 9:50am Sep 22, 2017 9:50am
Quoting Embry1
{quote} Did you adjust your stop loss? That one should have been a winner. If you placed your stop loss just above the PSAR and middle bollinger band at the point of the signals lining up it would have missed it. {image}
I place stop loss 5 pips above sar and not the bb. Thats what I did wrong.
  • #107
  • Sep 22, 2017 9:55am Sep 22, 2017 9:55am
Quoting nihilist23uk
{quote} I place stop loss 5 pips above sar and not the bb. Thats what I did wrong.
Sorry man that's a real bummer. When the PSAR and middle bollinger band are that close together and that close to the price you definitely want to put it above the PSAR and bollinger band because that would take it down to a 2/4 if it broke through both. The reason behind that is because even if it takes out the PSAR you still have a very strong 3/4 signal with a huge bearish divergence. The risk is slightly higher but you had plenty of room for a huge TP, that was the trade of the day so far.
  • #108
  • Sep 22, 2017 10:03am Sep 22, 2017 10:03am
Quoting Embry1
{quote} Sorry man that's a real bummer. When the PSAR and middle bollinger band are that close together and that close to the price you definitely want to put it above the PSAR and bollinger band because that would take it down to a 2/4 if it broke through both. The reason behind that is because even if it takes out the PSAR you still have a very strong 3/4 signal with a huge bearish divergence. The risk is slightly higher but you had plenty of room for a huge TP, that was the trade of the day so far.
That makes a lot of sense explaining it that way,Thanks,you teach well. Had a few trades today and that was the frustrating one ! Loos like I will finish in profit today.
Next week I will open a new demo account and start testing strat on its own for the week and see how I go.
  • #109
  • Sep 22, 2017 12:33pm Sep 22, 2017 12:33pm
So I actually took this trade here with both my live and demo account. I made a mistake on the demo and actually had the SL 1 pip shorter than my live account and that candle wick took it out on the demo. I wanted to share this because it's a good example of a 3/4 with confirmed divergence being a better setup than a 4/4 setup. I saw the 4/4 setup and honestly I got in too soon because the candle that I jumped in on took out the PSAR. If I had waited for that candle to close I would have had a better entry and better risk/reward. There's no telling if this one will hit TP with the way things have moved today so we'll see.
Attached Image
  • #110
  • Sep 22, 2017 3:45pm Sep 22, 2017 3:45pm
Boy was this a learning lesson. I had taken both of these trades on the demo and live and got out early because the market hadn't closed yet and both of these were pretty strong signals. They didn't hurt too bad but I was literally minutes away from hitting TP on both and making up for the day. That's what happens when you don't follow the rules, you get burned! Oh well, at least in the back of my mind I know that these setups did work.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 092217 GBPJPY 2.JPG Size: 139 KB
Click to Enlarge Name: 092217 GBPUSD 1.JPG Size: 124 KB
  • #111
  • Sep 22, 2017 3:53pm Sep 22, 2017 3:53pm
Couple of other small opportunities I didn't take due to it being the end of the day and market close.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 092217 EURUSD 3.JPG Size: 132 KB
Click to Enlarge Name: 092217 NZDUSD 1.JPG Size: 220 KB
  • #112
  • Sep 22, 2017 4:12pm Sep 22, 2017 4:12pm
Thanks for all the charts mate ! They help us learn so appreciate your time posting them up especially the losers.
Have a good weekend and catch you on the other side,hopefully with lots of green pips to go around.
  • #113
  • Sep 24, 2017 3:42pm Sep 24, 2017 3:42pm
we definetly need some alert by push notifications after stohastic and MA rules are met,but its hard to make I think
  • #114
  • Sep 24, 2017 4:30pm Sep 24, 2017 4:30pm
Quoting ficibald
we definetly need some alert by push notifications after stohastic and MA rules are met,but its hard to make I think
Well if that were the case I'm sure an EA would just determine the trade based on the alert. From the alerts that I've seen I believe that by the time it alerts you, it's probably a little too late. I think the human factor is very important with this strategy. Are you saying you need the alert because of it being difficult to watch multiple pairs?
  • #115
  • Sep 24, 2017 4:47pm Sep 24, 2017 4:47pm
Quoting Embry1
{quote} Well if that were the case I'm sure an EA would just determine the trade based on the alert. From the alerts that I've seen I believe that by the time it alerts you, it's probably a little too late. I think the human factor is very important with this strategy. Are you saying you need the alert because of it being difficult to watch multiple pairs?
A programmer can make an expert advisor for any system that has clear entry and exit rules for every situation.
If you could write that up say in a pdf or word document with chart examples for every possible situation then I am sure a programmer would look at it,
I think right now is to subjective as your talking about 4/4, 3 out 4 and 2 out of 4 trades.
I think you would need to create a section in a pdf or word documents for each types of those trades.
  • #116
  • Sep 24, 2017 5:45pm Sep 24, 2017 5:45pm
Could you please tell me about the timing? Do you open the chart at any random time, then observe your 4 conditions?
  • #117
  • Sep 24, 2017 6:33pm Sep 24, 2017 6:33pm
Quoting Torontoman
Could you please tell me about the timing? Do you open the chart at any random time, then observe your 4 conditions?
Are you asking what time frames am I using? Or like what time of day am I trading? I'm not sure what you mean by opening the charts at random times, I'm constantly monitoring about 15 pairs on 2 different time frames 1 Hour and 15 minute charts.
  • #118
  • Sep 24, 2017 6:47pm Sep 24, 2017 6:47pm
Quoting Embry1
{quote} Are you asking what time frames am I using? Or like what time of day am I trading? I'm not sure what you mean by opening the charts at random times, I'm constantly monitoring about 15 pairs on 2 different time frames 1 Hour and 15 minute charts.
I am sorry that I was not clear. But you answered my question. Please correct me if I am wrong. You are constantly monitoring the pairs. Then suddenly you see3 of the 4 conditions met. Then you enter.
  • #119
  • Sep 24, 2017 7:04pm Sep 24, 2017 7:04pm
Quoting Torontoman
{quote} I am sorry that I was not clear. But you answered my question. Please correct me if I am wrong. You are constantly monitoring the pairs. Then suddenly you see3 of the 4 conditions met. Then you enter.
There's really no set of strict rules as far as an entry. I will say though for the most part I like to wait for the current candle to close and enter on the next candle if both candles show the same signals. That's how you'll increase your win % but may have worse risk/reward. However there are certainly going to be occasions where to get the best entry and risk/reward you may need to enter as you see the signals coming together. For example, if you see a setup where the price is coming very close to the middle bollinger, PSAR, and EMA 100 but the stoch isn't quite at 30 (or 70) but you see divergence in the stoch then I would take that trade where I could enter it best as long as the risk/reward made sense.
  • #120
  • Sep 24, 2017 8:23pm Sep 24, 2017 8:23pm
Thank you!!

Quoting Embry1
{quote} There's really no set of strict rules as far as an entry. I will say though for the most part I like to wait for the current candle to close and enter on the next candle if both candles show the same signals. That's how you'll increase your win % but may have worse risk/reward. However there are certainly going to be occasions where to get the best entry and risk/reward you may need to enter as you see the signals coming together. For example, if you see a setup where the price is coming very close to the middle bollinger, PSAR, and EMA...
1 trader viewing now