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Simple Low Risk Price Action Trading w/ TE Results

  • #241
  • Oct 12, 2017 10:23am Oct 12, 2017 10:23am
Quoting mrdfx
Hello Embry1 nice strategy and thread. I think I have the just of it. I'm still catching up, but it looks like you can bank some nice pips if you get all the confirmations. Quick question as we trading a lower TF these would be shorter intraday trades, so what is your typical TP that you shoot for?
I'm doing a wide range of testing, I actually have a demo dedicated to H4 And D1 swing trading and it's working out nicely. It really depends on the pair but for 15 minute time frame I won't take a trade if I can't make at least 10 pips with a 1:1 risk reward at an absolute minimum. The TP and SL isn't necessarily based on pips, it's more structure. For example if I'm using a trade based on a support/resistance and divergence I will place the SL above or below it if the price breaks through and the TP will be close to the previous high or low or another support/resistance area. But to give you a general idea of what you can expect, on the 15 minute time frame trades can go from 10-30 pips. Hourly can be 20-60 pips. 4 hour and daily setups I go for at least 40 pips and as much as 100-150 pips. Pairs like the GBPUSD and GBPJPY can make some huge moves and others will be much smaller so there are quite a few factors. The biggest thing is risk/reward and money management.
  • #242
  • Edited 12:31pm Oct 12, 2017 12:20pm | Edited 12:31pm
Quoting reteid2222
A short review of my work...coded both of ur ideas...U can choose the filters... Missing: S/R..will try 2 do it tonight if I can catch free time.... If the indicator will be ready...i ll copy the code into the ea framework! {image} {file}
Thank your for working on this Reteid2222. I am sorry if my explanation of the strat was off or not clear to you. I am a bad girl lol.

I looked at your indicator and I see that you have is set up so when the the slow and fast lines in the stoch cross. This is not how it works and will cause this strat to fail. It is when the green line bounces off or or crosses out (not into see attached chart) of either over bought 70 or over sold areas 30 line. It is one of the key or top filters for this to work in my opinion (please if I am wrong Embry correct me).

The BB filter should be set up so when the price action is closer to the band closest to the 100ma so price has room to move to tp. If the trigger candle closes just past the middle of the bb I will still take a trade as long as it is close to the middle band. Please note in the chart below where the signal candles are located in the bb. The way the indicator is now working it will draw a arrow even if the pa is right up to the wrong side of the bb.

Here is a chart of trades I have taken 4 winners and 1 loss. The trades where taken at the close of the candles with the red line. SL was low of previous low and tp was the opposite bb.

If you have any questions please feel free to ask me.

Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 67 KB
  • #243
  • Oct 12, 2017 12:31pm Oct 12, 2017 12:31pm
This looks like a very good method.

I'm looking at D1 charts and on a 4/4 signal they can go on for half a month (exiting at PSAR break) and still gain around 1500-3000 pips depending on the pair.

I'm excited to test this method out for swing trading as well.
  • #244
  • Oct 12, 2017 10:16pm Oct 12, 2017 10:16pm
Hi Embry1 Great thread so thank you for this. Have you try this also on longer timeframes like 4h and daily ?

If you find time please respond i sent you a pm.

Thank you.

Best regards
  • #245
  • Oct 12, 2017 11:07pm Oct 12, 2017 11:07pm
I noticed though that on most 4/4 signals on the D1 chart, stochastic seems to always be near or beyond the 70 or 30 line.

From what I'm seeing though most of the trades will still go well, they will either draw down a little or stay on the trend. You'll still get a good amount of profit when the PSAR breaks. I'm doing a few trades now and I'll update you guys on the results.
  • #246
  • Oct 13, 2017 2:03am Oct 13, 2017 2:03am
Quoting AngelicaMari
{quote} Thank your for working on this Reteid2222. I am sorry if my explanation of the strat was off or not clear to you. I am a bad girl lol. I looked at your indicator and I see that you have is set up so when the the slow and fast lines in the stoch cross. This is not how it works and will cause this strat to fail. It is when the green line bounces off or or crosses out (not into see attached chart) of either over bought 70 or over sold areas 30 line. It is one of the key or top filters for this to work in my opinion (please if I am wrong Embry...
- the first change I understand that you take the trade when price leave os/ob zone...
- the second ist that the BB band is for taking the tp....so it is good for the trade to "start" low in the BB range...I could build in a filter that the price is in the lower range or lower x%
- Also it would be difficult to have divergence exact one candle behind the trade...so i will build a value "max X candles behind" in it....
- for S/R: "max X Candles behind" so that one of the last X candles had "touched" the S/R...
Vucking good EA coder... https://t.ly/AZjRM
  • #247
  • Oct 13, 2017 8:19am Oct 13, 2017 8:19am
Quoting reteid2222
{quote} - the first change I understand that you take the trade when price leave os/ob zone... - the second ist that the BB band is for taking the tp....so it is good for the trade to "start" low in the BB range...I could build in a filter that the price is in the lower range or lower x% - Also it would be difficult to have divergence exact one candle behind the trade...so i will build a value "max X candles behind" in it.... - for S/R: "max X Candles behind" so that one of the last X candles had "touched" the S/R...
Attached Image
  • #248
  • Oct 13, 2017 9:57am Oct 13, 2017 9:57am
Quoting AngelicaMari
{quote} {image}
I think this means: Do so!
Attached Image (click to enlarge)
Click to Enlarge Name: supergirl.jpg Size: 105 KB
Vucking good EA coder... https://t.ly/AZjRM
  • #249
  • Oct 13, 2017 12:38pm Oct 13, 2017 12:38pm
Quoting AngelicaMari
{quote} {image}
  • #250
  • Oct 16, 2017 1:00am Oct 16, 2017 1:00am
This strategy seems promising. I began to test on M5. Have anyone tested on M5?
Imparo ancora
  • #251
  • Oct 16, 2017 7:03am Oct 16, 2017 7:03am
Quoting erksa
This strategy seems promising. I began to test on M5. Have anyone tested on M5?
The problem I have on M5 is the risk/reward. Typically the spreads are going to eat up too much of the profit to be worthwhile. I'm sure it works on M5 but it may not be worth your time.
  • #252
  • Oct 16, 2017 9:35am Oct 16, 2017 9:35am
Back from vacation and ready to make some money! Here are some good setups since open of the market yesterday on the 1 hour chart. Seems like there are some good trends going. Also you can see in most of these setups, the TP is hit and surpassed in most cases. So these setups are providing a minimum of 2:1 risk/reward with a potential for higher if you are willing to take the additional risk. However if you play it safe with the 2:1 risk you'll still succeed with an average win ratio.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 101617 CADJPY 1.JPG Size: 374 KB
Click to Enlarge Name: 101617 EURJPY 1.JPG Size: 353 KB
  • #253
  • Oct 16, 2017 8:02pm Oct 16, 2017 8:02pm
Hello, maybe a good setup on EUR/CAD but without divergence.... i think 2:1r is ok.
Attached Image (click to enlarge)
Click to Enlarge Name: EURCAD.jpg Size: 218 KB
  • #254
  • Oct 16, 2017 8:09pm Oct 16, 2017 8:09pm
Quoting Zirbes
Hello, maybe a good setup on EUR/CAD but without divergence.... i think 2:1r is ok. {image}
I would consider that trade a weak 3/4 because the PSAR is below the middle bollinger and the 100 EMA because the previous low created a new low and the previous high did not breach the high before that so you have no support to back up the 100 EMA and middle bollinger band. It might be good for a small move, I would watch it on the 15 minute chart for confirmation.
  • #255
  • Oct 16, 2017 9:56pm Oct 16, 2017 9:56pm
Hi Embry, is this a good setup?

Kind regards.
Attached Image (click to enlarge)
Click to Enlarge Name: CADCHFM15.png Size: 49 KB
  • #256
  • Oct 17, 2017 12:10am Oct 17, 2017 12:10am
Quoting AngelicaMari
{quote} Thank your for working on this Reteid2222. I am sorry if my explanation of the strat was off or not clear to you. I am a bad girl lol. I looked at your indicator and I see that you have is set up so when the the slow and fast lines in the stoch cross. This is not how it works and will cause this strat to fail. It is when the green line bounces off or or crosses out (not into see attached chart) of either over bought 70 or over sold areas 30 line. It is one of the key or top filters for this to work in my opinion (please if I am wrong Embry...
Ok coded the indicator that it took exactly angelicas entrys...u have utc-7 to -4 in germany +1...
Settings and trades now as in the picture:
Next step I ll code embry s version with div & s/r....this will be harder cause of the s/r
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 79 KB
Click to Enlarge Name: Screenshot3.png Size: 51 KB
Vucking good EA coder... https://t.ly/AZjRM
  • #257
  • Oct 17, 2017 6:24am Oct 17, 2017 6:24am
Quoting reteid2222
{quote} Ok coded the indicator that it took exactly angelicas entrys...u have utc-7 to -4 in germany +1... Settings and trades now as in the picture: Next step I ll code embry s version with div & s/r....this will be harder cause of the s/r {image} {image}
Reteid2222,
First, thanks a lot for your work, I'am sure it is appreciated by many here.
Second, is this the same indicator as posted in your post 237 (incorporating all the new features?)?

Thanks again!
  • #258
  • Oct 17, 2017 7:11am Oct 17, 2017 7:11am
Quoting evandrorp14
Hi Embry, is this a good setup? Kind regards. {image}
Sorry for the late response, you must have posted this just as I was going to bed. I don't trade the CADCHF but in that picture I really don't know which way you were trying to go, there's no clear direction from what you posted if you're talking about the last few candles there. Could you go into more detail on your thought process on this one and if you were cross checking it at the time with another time frame? I don't see a setup at the current time from what you posted but there were setups earlier on in that chart.
  • #259
  • Edited 10:36pm Oct 17, 2017 7:28am | Edited 10:36pm
Ola Embry,

Actually, now I see that there was no trade in this pair.

Sorry about that.
  • #260
  • Oct 17, 2017 7:31am Oct 17, 2017 7:31am
For those of you who like trading higher time frames, I've been doing some testing and a few live trades with D1 trades and cross checking the H1 chart for entry. What I like about D1 setups is that the price action really respects the signals, divergence, and support/resistance. So I feel like accuracy is higher the longer the time frame. What I don't like is how few setups there are for this so you sort of have to take setups that you wouldn't necessarily take on a 1 hour or 15 minute chart. Here is an example:

This trade I held for about 24 hours and I hit first profit target so far on the live account for 76 pips. Essentially this is filling the gap between the current price and the previous low and/or the low bollinger band and 100 EMA. So for a 15 minute time frame trade, I wouldn't take this because the risk of it spiking up once the stoch crosses under 30 while still remaining above the 100 EMA is high. However in this case, even though the trade looks small there's a potential 150 pips or more to be made from a not so perfect setup. This just goes to show how well the price action respects the signals, divergence, and support/resistance that you can be this precise with a trade with outstanding risk/reward opportunities.
Attached Image
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