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Simple Daily Trend Reversal Trading System

  • #81
  • Nov 13, 2017 5:32am Nov 13, 2017 5:32am
USD/CHF didn't look much trend reversal ...if you go long.
  • #82
  • Nov 13, 2017 5:36am Nov 13, 2017 5:36am
Quoting Hazza88
{quote} so you couldnt take the recross until the stoch for example had returned to oversold and was coming up out of it again?
Yes as the stochastic is now in OB I will wait for the stochastic to confirm again. This trade doesn't look like it will be valid for a few hours, so I will check again later in the day.
Truth is like poetry. And most people f*cking hate poetry.
  • #83
  • Nov 13, 2017 5:41am Nov 13, 2017 5:41am
I take a look at the daily chart and I wouldn't take this one, I like better your system after an extended trend
  • #84
  • Nov 13, 2017 5:43am Nov 13, 2017 5:43am
Did you take EUR/USD last Friday ?
  • #85
  • Nov 13, 2017 5:46am Nov 13, 2017 5:46am
Quoting rockknmike
I take a look at the daily chart and I wouldn't take this one, I like better your system after an extended trend
Sure you should find and use my strategy how you feel it can benefit you.

USDCHF might not work and that's fine, if the pair is not confirmed valid then its ok, and I check the next one and wait. It's like I said we must have patience and wait for the good set up. Monday is also slow so better to maybe wait for tomorrow.
Truth is like poetry. And most people f*cking hate poetry.
  • #86
  • Nov 13, 2017 6:14am Nov 13, 2017 6:14am
Quoting mrdfx
{quote} Yes as the stochastic is now in OB I will wait for the stochastic to confirm again. This trade doesn't look like it will be valid for a few hours, so I will check again later in the day.
Ok many thanks for confirming that
  • #87
  • Nov 13, 2017 7:29am Nov 13, 2017 7:29am
Do you know what is the data used for the ZIg Zag arrow ?
  • #88
  • Nov 13, 2017 8:15am Nov 13, 2017 8:15am
GBPCAD +40 pips
Attached Image (click to enlarge)
Click to Enlarge Name: 40.png Size: 23 KB
Fear is the mind-killer.
  • #89
  • Nov 13, 2017 10:43am Nov 13, 2017 10:43am
Quoting rockknmike
Do you know what is the data used for the ZIg Zag arrow ?
I'm not exactly sure of all the data that has been coded, but I know its based off of the zig zag indicator.
Truth is like poetry. And most people f*cking hate poetry.
  • #90
  • Nov 13, 2017 10:44am Nov 13, 2017 10:44am
Quoting MrJoker
GBPCAD +40 pips {image}
Nicely done!

I'm running on 25+ pips on UC, and still going.
Truth is like poetry. And most people f*cking hate poetry.
  • #91
  • Nov 13, 2017 11:17am Nov 13, 2017 11:17am
A little clarity please - In my back testing I've notice that quite often the MBFX has already left the extreme areas by the time the Trend Indicator and MA cross. At the time the arrow shows up, MBFX is in proper position. Although the MBFX is moving in the correct direction, I would NOT take the trade based on the rules.
Even with your example picture on Post 1, where you show that is "NOW" a good sell or buy, the MBFX has moved on.
  • #92
  • Nov 13, 2017 11:42am Nov 13, 2017 11:42am
Quoting lctrader11
A little clarity please - In my back testing I've notice that quite often the MBFX has already left the extreme areas by the time the Trend Indicator and MA cross. At the time the arrow shows up, MBFX is in proper position. Although the MBFX is moving in the correct direction, I would NOT take the trade based on the rules. Even with your example picture on Post 1, where you show that is "NOW" a good sell or buy, the MBFX has moved on.
You seem to misunderstand the strategy I think. It is not based only on the MBFX, that is only ONE of the indicators used for confirmation of a trade. It is quite normal in most cases for the MBFX to have moved out from the OB & OS levels when there is a full confirmation of a trade, but as long as the MBFX is still moving in the correct direction it is valid. Please read my strategy rules again to clarify. Also we do not wait for the Trend Line indicator to cross the SMA, that is not in the rules so I think you have misunderstood that part as well. I have been using this strategy successfully for almost 1 year, and decided to share here with FF members, but if you do not feel confident in in the trade rules of my strategy that is fine and I wish you success with your own.
Truth is like poetry. And most people f*cking hate poetry.
  • #93
  • Nov 13, 2017 12:07pm Nov 13, 2017 12:07pm
After you reach your TP , will you re-enter under the same arrow if all the conditions are still right ?
  • #94
  • Nov 13, 2017 12:28pm Nov 13, 2017 12:28pm
Quoting rockknmike
After you reach your TP , will you re-enter under the same arrow if all the conditions are still right ?
No generally I will wait for the next signal. Once I've hit my TP or closed the trade I'll wait for the next one.
Truth is like poetry. And most people f*cking hate poetry.
  • #95
  • Nov 13, 2017 12:34pm Nov 13, 2017 12:34pm
Sorry if I ask a lot of question but since you trade that system for a long time you are well placed to answer...
How do you figure your TP and SL ?
Usually you let it run until the reverse signal appears ? fixed TP and SL ? or around previous S\R ?
  • #96
  • Nov 13, 2017 1:19pm Nov 13, 2017 1:19pm
Quoting rockknmike
Sorry if I ask a lot of question but since you trade that system for a long time you are well placed to answer... How do you figure your TP and SL ? Usually you let it run until the reverse signal appears ? fixed TP and SL ? or around previous S\R ?
As I wrote in the first post: "Setting the TP & SL levels is a personal choice. For me if I set a SL, I would normally set my SL at the previous high or low, and I also pay attention to price action. The TP can be a fixed target or set either using Fibonacci or when there is the next confirmed signal to get maximum pips. I will monitor price action most of the time, and get out if I see the trend is changing and a new reversal forming."
Truth is like poetry. And most people f*cking hate poetry.
  • #97
  • Nov 13, 2017 11:34pm Nov 13, 2017 11:34pm
Hi, I will study your indicators and rules tonight and will try it out on my demo account, to see how it works and so on. Might also be interested in building EA based on these rules or something... Lets see how this works out, still a noob here, so
  • #98
  • Nov 14, 2017 12:53am Nov 14, 2017 12:53am
AUD/CHF setting up for a short on the 1HR time frame, got "anxious" and jumped in early. Oh, I "expanded" the "MBFX Timiing Indicator" out to 80/20, vs. 70/30, to try and get in a little earlier.
Attached Image (click to enlarge)
Click to Enlarge Name: AUD CHF Short.png Size: 38 KB
  • #99
  • Nov 14, 2017 2:15am Nov 14, 2017 2:15am
Quoting arjasepp
Hi, I will study your indicators and rules tonight and will try it out on my demo account, to see how it works and so on. Might also be interested in building EA based on these rules or something... Lets see how this works out, still a noob here, so
Awesome try it out and I wish you success.
Truth is like poetry. And most people f*cking hate poetry.
  • #100
  • Nov 14, 2017 2:19am Nov 14, 2017 2:19am
Quoting Patso
AUD/CHF setting up for a short on the 1HR time frame, got "anxious" and jumped in early. Oh, I "expanded" the "MBFX Timiing Indicator" out to 80/20, vs. 70/30, to try and get in a little earlier. {image}
I see many zig zag arrows on your chart, did you change some of the parameters in the arrow indicator settings? Based on my H1 chart I would not have entered as there was no valid signal. I hope you closed and got out as I'm seeing a reversal forming.
Truth is like poetry. And most people f*cking hate poetry.
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