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Simple and profitable trading style

  • #1,621
  • Oct 23, 2017 12:15pm Oct 23, 2017 12:15pm
I wish to restate here that when using the 4hr upper/lower band the low/high price of the daily should be used for sl
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #1,622
  • Oct 23, 2017 12:32pm Oct 23, 2017 12:32pm
EG short moving towards the daily and 4hr. Am not using the strategy to get in. Am already in with the shooting star,12th October and the previous gravestone doji, 29th August
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #1,623
  • Oct 23, 2017 12:34pm Oct 23, 2017 12:34pm
Quoting 9jatrader
Fibonacci level 23.6% remains a a barrier on the strong bullish setup on GBPCHF. {image}
It's doing well now above the level and middle band.
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #1,624
  • Oct 23, 2017 12:38pm Oct 23, 2017 12:38pm
Quoting 9jatrader
If you can remember, I said sometime ago that EURGBP correlated pair, GBPCHF formed bullish engulfing above Fibonacci level 38.2%. Today's candle still formed above it and also strongly rejected the lower band by forming strong hammer, having "Bullish Body". Having bullish body indicates that it has strong probability/momentum to fly. I might be wrong, but market is always right.
Here was the hammer candle analyses. Hammer is doing it's job.
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #1,625
  • Oct 23, 2017 3:05pm Oct 23, 2017 3:05pm
First time posting a potential trade for me using this strategy. Thoughts on Long for USD/CAD?
  • #1,626
  • Oct 23, 2017 4:21pm Oct 23, 2017 4:21pm
<p>
Quoting lctrader11
First time posting a potential trade for me using this strategy. Thoughts on Long for USD/CAD?
You're correct. USDCAD slow
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #1,627
  • Oct 23, 2017 4:30pm Oct 23, 2017 4:30pm
OK, step 1 correct at any rate.
I agree with the slowness. I see the BBs are squeezing together, putting pressure on the total move. ATR(14) is at 87, so a % of that also indicates not much of a move, relative to a normal higher TF. Would this be a valid/fair assessment?
  • #1,628
  • Oct 23, 2017 4:38pm Oct 23, 2017 4:38pm
Quoting lctrader11
OK, step 1 correct at any rate. I agree with the slowness. I see the BBs are squeezing together, putting pressure on the total move. ATR(14) is at 87, so a % of that also indicates not much of a move, relative to a normal higher TF. Would this be a valid/fair assessment?
Yea, BBSqueeze. But for those who would use daily middle band and 4hr upper band they would be over 350 pips. 18th September would be a nice day to get in. You would observe that it would have triggered sl few days on the 4hr, but not daily candle sl. That's is the reason I say use the longer TF candle for sl
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #1,629
  • Oct 23, 2017 4:42pm Oct 23, 2017 4:42pm
If the sl size on using the longer tf candle is too big, lower the size of the lot size. You would still be in profit. When sl is triggered your account would still be in good shape
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #1,630
  • Oct 23, 2017 4:50pm Oct 23, 2017 4:50pm
Backcheck many previous price charts on many pairs and so you would be able to have and build more confidence on the strategy. And so you would know the success and failure of the strategy.
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #1,631
  • Oct 23, 2017 7:15pm Oct 23, 2017 7:15pm
AUDCHF and AUDJPY returned to where the previous setup was made as expected. While AUDCHF formed a weak Tweezer Tops, AUDJPY formed engulfing, though not supported by upper band breakout
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #1,632
  • Oct 24, 2017 12:20am Oct 24, 2017 12:20am
Quoting lctrader11
First time posting a potential trade for me using this strategy. Thoughts on Long for USD/CAD?
Your post informed me to check what USDCAD monthly was doing. I found out that it has already formed strong bullish setup a month ago, strong Dragonfly/Pin bar. It was formed on strong support,1.24626. Getting in on the shorter TF is the game plan now.
Thanks for your post
Attached Image (click to enlarge)
Click to Enlarge Name: usdcadb.png Size: 35 KB
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #1,633
  • Oct 24, 2017 12:26am Oct 24, 2017 12:26am
One of the candles has closed above the upper band. If only I knew then i would have join the bulls. USDCAD was much more frustrating for me while I was waiting. I hope to use pending order, "Buy Stop" above the recent high price in case the bulls are ready this time. Also worth noting is the fact that it takes time for longer TF to work.
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #1,634
  • Oct 24, 2017 1:03am Oct 24, 2017 1:03am
what currency pairs you use to trade?
  • #1,635
  • Oct 24, 2017 1:25am Oct 24, 2017 1:25am
Quoting adius7
what currency pairs you use to trade?
I have more than twenty pairs I trade. Am daily candlestick trader. With long TF trading, one can trade many pairs. I don't trade EURCHF
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #1,636
  • Oct 24, 2017 4:46am Oct 24, 2017 4:46am
Quoting 9jatrader
One of the candles has closed above the upper band. If only I knew then i would have join the bulls. USDCAD was much more frustrating for me while I was waiting. I hope to use pending order, "Buy Stop" above the recent high price in case the bulls are ready this time. Also worth noting is the fact that it takes time for longer TF to work.
The pending triggered. No going back.
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #1,637
  • Oct 24, 2017 12:22pm Oct 24, 2017 12:22pm
EURGBP short is returning again from middle band. I hope it would not finally become frustrating like EURUSD short I have been since August
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #1,638
  • Oct 24, 2017 12:25pm Oct 24, 2017 12:25pm
The shooting star setup not invalidated for now.
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #1,639
  • Oct 24, 2017 8:00pm Oct 24, 2017 8:00pm
AUDJPY making similar short trade similar to AUDUSD, daily middle band and 4hr lower band.
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #1,640
  • Oct 24, 2017 8:04pm Oct 24, 2017 8:04pm
The positive thing is that there was already an existing short trade setup on the daily. I have shared it here. Still backtesting 4hr, as long as there is already strong setup on the daily. I missed the USDCAD daily middle band and 4hr upper band. I got in with weekly middle band and daily upper band
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
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