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Simple Daily Trend Reversal Trading System

  • #221
  • Nov 20, 2017 1:27pm Nov 20, 2017 1:27pm
Buy order opened on USDJPY.
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Truth is like poetry. And most people f*cking hate poetry.
  • #222
  • Nov 20, 2017 1:32pm Nov 20, 2017 1:32pm
Guess i have a small indicator-disorder-syndrome as well :-)
But i'm happy with it and it makes money, perhaps i will drop some indicators in the future
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  • #223
  • Nov 20, 2017 1:39pm Nov 20, 2017 1:39pm
Quoting ebeckers
Guess i have a small indicator-disorder-syndrome as well :-) But i'm happy with it and it makes money, perhaps i will drop some indicators in the future {image}
As long as you can see whats going on there!
Truth is like poetry. And most people f*cking hate poetry.
  • #224
  • Nov 20, 2017 1:43pm Nov 20, 2017 1:43pm
Quoting ebeckers
Guess i have a small indicator-disorder-syndrome as well :-) But i'm happy with it and it makes money, perhaps i will drop some indicators in the future {image}
Keepnit simple bro
  • #225
  • Nov 20, 2017 1:52pm Nov 20, 2017 1:52pm
Quoting alhalawi
{quote} Keepnit simple bro
I do keep it very simple for my swing trading ;-)
During the day I use the modified setup of mrdfx for intraday trading on H1/H4
But i have a separate account (and PC) for swing trading. That one has naked P/A charts for D1/W1 like this and which i look at just 1x a day when market opens to see if i should take an order or not..
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  • #226
  • Nov 20, 2017 2:30pm Nov 20, 2017 2:30pm
hi guys trying new weekly martingale strategy that i discovered over weekend
news coming on aud hope if it does work ill get 130 pips from 2 more trades
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  • #227
  • Nov 20, 2017 2:38pm Nov 20, 2017 2:38pm
Just started reading this thread. very impressive. i have having problems uploading the indicators. I am a newbie to forex so i was hoping someone could tell me exactly how to do this.
thanks
  • #228
  • Nov 20, 2017 2:45pm Nov 20, 2017 2:45pm
Quoting Cullen
Just started reading this thread. very impressive. i have having problems uploading the indicators. I am a newbie to forex so i was hoping someone could tell me exactly how to do this. thanks
If you don't want to make an effort in searching the Internet on how to put up indicators and template so don't bother trading in first place. Because no one will show you how to be come profitable, you have a long way to go

There are loads of websites that will show you how to do it
  • #229
  • Nov 20, 2017 3:23pm Nov 20, 2017 3:23pm
Quoting beethoven
hi guys trying new weekly martingale strategy that i discovered over weekend news coming on aud hope if it does work ill get 130 pips from 2 more trades {image}
You are welcome to trade any strategy you like, but lets please stick to the topic of this thread and original strategy, we don't want to confuse anyone and sway form the original strategy. If you would like to talk about and share your strategy please consider opening your own thread and discuss it there. Thanks.
Truth is like poetry. And most people f*cking hate poetry.
  • #230
  • Nov 20, 2017 3:25pm Nov 20, 2017 3:25pm
Quoting Cullen
Just started reading this thread. very impressive. i have having problems uploading the indicators. I am a newbie to forex so i was hoping someone could tell me exactly how to do this. thanks
Hi Cullen I have uploaded all the indicators into the zip file on the first post. If you don't know how to install indicators on MT4, I highly suggest you do some studying on the basics of forex first, and watch some YouTube videos how to operate the MT4 platform.
Truth is like poetry. And most people f*cking hate poetry.
  • #231
  • Nov 20, 2017 9:01pm Nov 20, 2017 9:01pm
Quoting alhalawi
I have added 2 more indicators which could increase the probability of being on the right choice i will also attach my template to make it easier Let's do this team {image} {file} {file} {file}
Salaam Alaikum Wa Rahmatullahi Wa Barakatuhu, the indicators that you have posted are super cool can you please CONFIRM via your experience that they do not repaint have you thoroughly tested it i think that the the previous data once refreshed repaints ...can you confirm it does not please ....
Regards
  • #232
  • Nov 21, 2017 4:56am Nov 21, 2017 4:56am
Please to have found this ! thanks to Mrdfx for sharing this great system.

Taken 3 trades today,gbpchf,usdcad and gbpcad,all looking good so far.

Entry has been explained very well and I think its pretty much idiot proof. I think where im going to go fail with this is trying to time my exits.
Maybe time and experience will help with this as this seems to be how mrdfx is working with it. Time will tell.

mrdfx,maybe when you close out a few trades you can show us why you closed them out to help us better understand your thinking ?

Thank you once again .
  • #233
  • Nov 21, 2017 5:04am Nov 21, 2017 5:04am
Quoting nihilist23uk
Please to have found this ! thanks to Mrdfx for sharing this great system. Taken 3 trades today,gbpchf,usdcad and gbpcad,all looking good so far. Entry has been explained very well and I think its pretty much idiot proof. I think where im going to go fail with this is trying to time my exits. Maybe time and experience will help with this as this seems to be how mrdfx is working with it. Time will tell. mrdfx,maybe when you close out a few trades you can show us why you closed them out to help us better understand your thinking ? Thank you once again...
i think there was no entry on the trades you mentioned

make sure that candle closes above/below 15 sma to make sure the trade is still on
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  • #234
  • Nov 21, 2017 5:20am Nov 21, 2017 5:20am
Quoting alhalawi
{quote} i think there was no entry on the trades you mentioned make sure that candle closes above/below 15 sma to make sure the trade is still on {image}
Sorry ! forgot to mention i switched down to 30min time frame, for training purposes only of course,just to get a hang of system. 1st day today.
out with a profit on all 3.
+ that chart you showed was nzdchf .not a pair I traded.
Thanks for reply though.
  • #235
  • Nov 21, 2017 5:30am Nov 21, 2017 5:30am
Quoting nihilist23uk
{quote} Sorry ! forgot to mention i switched down to 30min time frame, for training purposes only of course,just to get a hang of system. 1st day today. out with a profit on all 3. + that chart you showed was nzdchf .not a pair I traded. Thanks for reply though.

yes you can but on low time frame it's risky

the best time frame is H4 for this system
  • #236
  • Nov 21, 2017 7:03am Nov 21, 2017 7:03am
Quoting nihilist23uk
Please to have found this ! thanks to Mrdfx for sharing this great system. Taken 3 trades today,gbpchf,usdcad and gbpcad,all looking good so far. Entry has been explained very well and I think its pretty much idiot proof. I think where im going to go fail with this is trying to time my exits. Maybe time and experience will help with this as this seems to be how mrdfx is working with it. Time will tell. mrdfx,maybe when you close out a few trades you can show us why you closed them out to help us better understand your thinking ? Thank you once again...
Hello nihilist23uk thanks for joining. When it comes to exits, its based mainly on price action, and trend momentum. I normally target 50-100 pips per trade, but I'll monitor the price action, and if I see the pair turning or ranging sometimes I'll close and get out. If I leave a trade overnight I'll set a hard SL and let it run.

I will say that many times I set a TP of 50 pips and the trade went on to hit +100 and I could have got a lot more. A good idea would be to set a 50 pip target and then trail it, or set a 100 pip target and move your SL into profit and ride it. The exit of a trade is really up to you and your preferred way of managing trades.
Truth is like poetry. And most people f*cking hate poetry.
  • #237
  • Nov 21, 2017 7:06am Nov 21, 2017 7:06am
Quoting alhalawi
{quote} yes you can but on low time frame it's risky the best time frame is H4 for this system
H4 is the time frame that I tend to use, but other time frames can be used. If you want to trade on lower time frames then I would cross check with the higher time frames for extra confirmation. You need to keep your eyes on the charts on lower time frames for pullbacks and false breakouts etc. I found that the trend respects higher time frames like H4 a lot better so there's a higher chance of success.
Truth is like poetry. And most people f*cking hate poetry.
  • #238
  • Nov 21, 2017 7:27am Nov 21, 2017 7:27am
Quoting mrdfx
{quote} H4 is the time frame that I tend to use, but other time frames can be used. If you want to trade on lower time frames then I would cross check with the higher time frames for extra confirmation. You need to keep your eyes on the charts on lower time frames for pullbacks and false breakouts etc. I found that the trend respects higher time frames like H4 a lot better so there's a higher chance of success.
Same with H4. After hitting SL a few times using this strategy and wondering why i noticed that you have to look at S/R levels on higher timeframes.
I try to only take setups using this methods on weekly (and sometimes daily) S/R levels

Like audcad atm. its reached a major weekly level (yellow line) at 17 nov. Because of this major weekly level you can be almost 100% sure that it will keep on going after the close above the SMA 15 yesterday
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  • #239
  • Nov 21, 2017 7:35am Nov 21, 2017 7:35am
Quoting ebeckers
{quote} Same with H4. After hitting SL a few times using this strategy and wondering why i noticed that you have to look at S/R levels on higher timeframes. I try to only take setups using this methods on weekly (and sometimes daily) S/R levels Like audcad atm. its reached a major weekly level (yellow line) at 17 nov. Because of this major weekly level you can be almost 100% sure that it will keep on going after the close above the SMA 15 yesterday {image}
If you say some of your trades hit SL a few times, perhaps you running your stops too tight? On higher time frames you need to allow more room for the pair to breath and swing. Generally if a trade starts going to -50 in DD I will start looking at possibly closing down if I don't see it coming back. Most times if it does go into DD it will come back to respect the set up.
Truth is like poetry. And most people f*cking hate poetry.
  • #240
  • Nov 21, 2017 7:42am Nov 21, 2017 7:42am
Quoting mrdfx
{quote} If you say some of your trades hit SL a few times, perhaps you running your stops too tight? On higher time frames you need to allow more room for the pair to breath and swing. Generally if a trade starts going to -50 in DD I will start looking at possibly closing down if I don't see it coming back. Most times if it does go into DD it will come back to respect the set up.
I usually set the SL at the tip of the arrow. See the audcad screenshot above for an example. Is that too tight ?? Do you set it lower then ?
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