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Simple Daily Trend Reversal Trading System

  • #21
  • Nov 10, 2017 5:56am Nov 10, 2017 5:56am
Quoting yalgaar
{quote} But your MBFX indicator is now at around 50. Will this trade be still valid when the price crosses the 15SMA? Also...I do notice that the price did cross the 15SMA in the previous candle? Why didn't you take the trade then? Or do we have to wait for the price to close below the 15SMA? and not just touch cross the 15SMA? I am sorry about so many questions...I just want the rules to be clear.
I didn't open on the previous candle as I didn't see the set up until a bit earlier lol. In any case I would have waited for a the candle to close below the SMA to confirm the downwards reversal. It's very important to make all the confirmations as sometimes there could be a pullback delaying the reversal and then you enter the trade premature and go into DD or the reversal was false and you hit SL. This strategy isn't 100%, but if you follow the rules properly you can get 80% win most times.
Truth is like poetry. And most people f*cking hate poetry.
  • #22
  • Nov 10, 2017 6:35am Nov 10, 2017 6:35am
Quoting mrdfx
{quote} I didn't open on the previous candle as I didn't see the set up until a bit earlier lol. In any case I would have waited for a the candle to close below the SMA to confirm the downwards reversal. It's very important to make all the confirmations as sometimes there could be a pullback delaying the reversal and then you enter the trade premature and go into DD or the reversal was false and you hit SL. This strategy isn't 100%, but if you follow the rules properly you can get 80% win most times.

Thanks for your reply. So is the rule for the candle to close(not just price cross) below the SMA15 for a Sell trade and close(not just price cross) above the SMA15 for Buy trade?
  • #23
  • Nov 10, 2017 6:36am Nov 10, 2017 6:36am
Quoting mrdfx
{quote} I didn't open on the previous candle as I didn't see the set up until a bit earlier lol. In any case I would have waited for a the candle to close below the SMA to confirm the downwards reversal. It's very important to make all the confirmations as sometimes there could be a pullback delaying the reversal and then you enter the trade premature and go into DD or the reversal was false and you hit SL. This strategy isn't 100%, but if you follow the rules properly you can get 80% win most times.

Nothing is 100%, but 80% is good enough! :-)
  • #24
  • Nov 10, 2017 6:42am Nov 10, 2017 6:42am
The indicator repaints? And you showed the past performance? ...
  • #25
  • Nov 10, 2017 6:50am Nov 10, 2017 6:50am
Quoting yalgaar
{quote} Thanks for your reply. So is the rule for the candle to close(not just price cross) below the SMA15 for a Sell trade and close(not just price cross) above the SMA15 for Buy trade?
Yes correct. Monitoring PA is also very important, sometimes there will be a big fast move and the candle shooting through the SMA, in that case I wouldn't wait for the candle to close in and would enter to catch the rest of the move.
Truth is like poetry. And most people f*cking hate poetry.
  • #26
  • Nov 10, 2017 6:54am Nov 10, 2017 6:54am
Quoting andrern2000
The indicator repaints? And you showed the past performance? ...

As I replied to yalgaar on the first page, the only indicator that can repaint is the zig zag arrow, this is why I use the trend indicator, the stochastic and the SMA to make the confirmation before opening a trade, this will reduce any false signals.

Past performance? You mean showing a chart from a few days a go to give a good example of a confirmed set up? Is this a problem for you? The chart from a few days ago is to illustrate what a confirmed set up looks like, sorry if at the time of writing this thread there was no confirmed set up to take a picture for you.
Truth is like poetry. And most people f*cking hate poetry.
  • #27
  • Nov 10, 2017 7:14am Nov 10, 2017 7:14am
On H! I notice that price crossed below but now has crossed back above. Now a waiting game.
  • #28
  • Nov 10, 2017 7:33am Nov 10, 2017 7:33am
I can't get any of the indicators or templates to work.
Anyone else having that problem?
  • #29
  • Nov 10, 2017 7:46am Nov 10, 2017 7:46am
gonna give it a try and update
  • #30
  • Nov 10, 2017 7:57am Nov 10, 2017 7:57am
Quoting billbss
I can't get any of the indicators or templates to work. Anyone else having that problem?
Download the zip file on the first post and use the templates provided and it should work.
Truth is like poetry. And most people f*cking hate poetry.
  • #31
  • Nov 10, 2017 7:59am Nov 10, 2017 7:59am
Buy set up on USDCAD forming. It's looking good on H1, now just waiting for confirmation from the stochastic and SMA on H4 to enter.
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2017-11-10 at 11.58.54 AM.png Size: 148 KB
Truth is like poetry. And most people f*cking hate poetry.
  • #32
  • Nov 10, 2017 8:18am Nov 10, 2017 8:18am
Example of being impatient....
Attached Image (click to enlarge)
Click to Enlarge Name: unpatient.png Size: 29 KB
Fear is the mind-killer.
  • #33
  • Nov 10, 2017 8:25am Nov 10, 2017 8:25am
Quoting mrdfx
Buy set up on USDCAD forming. It's looking good on H1, now just waiting for confirmation from the stochastic and SMA on H4 to enter. {image}
How can you say it looks good on H1? The MBFX indicator was never in oversold level
  • #34
  • Nov 10, 2017 8:35am Nov 10, 2017 8:35am
Nice system! Subscribed for sure. A good reversal system is just what I need in my arsenal.
  • #35
  • Nov 10, 2017 8:41am Nov 10, 2017 8:41am
Quoting yalgaar
{quote} How can you say it looks good on H1? The MBFX indicator was never in oversold level
I was not referring to the stochastic on H1, I was looking at the overall direction and PA. I do most of my analysis on H4, but you can use lower TF if you prefer.
Truth is like poetry. And most people f*cking hate poetry.
  • #36
  • Nov 10, 2017 8:42am Nov 10, 2017 8:42am
Quoting Embry1
Nice system! Subscribed for sure. A good reversal system is just what I need in my arsenal.
Thanks Embry1 good to see you here.
Truth is like poetry. And most people f*cking hate poetry.
  • #37
  • Nov 10, 2017 8:43am Nov 10, 2017 8:43am
Quoting mrdfx
Buy set up on USDCAD forming. It's looking good on H1, now just waiting for confirmation from the stochastic and SMA on H4 to enter. {image}
3/3 confirmations now just waiting for the cross and close of the SMA. I'm not sure if this move will complete today as its a Friday and the market is very slow.

Also waiting on GOLD to make confirmation, but will follow the PA and see if it will confirm otherwise I will check again on Monday.

I did say that you need to have patience!
Truth is like poetry. And most people f*cking hate poetry.
  • #38
  • Nov 10, 2017 8:49am Nov 10, 2017 8:49am
Look at Audcad could be a buy in 12 Minutes

But i still have one question, where are youz putting the stoploss and the takeprofitt ?
  • #39
  • Nov 10, 2017 9:04am Nov 10, 2017 9:04am
Quoting mrdfx
{quote} I was not referring to the stochastic on H1, I was looking at the overall direction and PA. I do most of my analysis on H4, but you can use lower TF if you prefer.
I do not have any preference. I am just gathering all the rules of your system. That said...do you also use Stochastic for confirmation? Thought there were only 4 indicators to confirm a trade. Please clarify? Can you update your Post # 1 accordingly for other subscribers?
  • #40
  • Nov 10, 2017 9:08am Nov 10, 2017 9:08am
Quoting Embry1
Nice system! Subscribed for sure. A good reversal system is just what I need in my arsenal.
+++++++++++++++++++++++++++

I agree. There is potential.

Today is not only Friday, but US banks are closed. H4 & especially H1 trading today is something I'm not doing.

Also keep in mind, that Oscillators tend to move faster, following reduced candle movement, lending theirselves to misleading readings.
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