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Simple Daily Trend Reversal Trading System

  • #241
  • Nov 21, 2017 7:53am Nov 21, 2017 7:53am
Quoting ebeckers
{quote} 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 ?
That looks good to me. That trade is also doing well, about 40+ pips now.
Truth is like poetry. And most people f*cking hate poetry.
  • #242
  • Nov 21, 2017 8:04am Nov 21, 2017 8:04am
Quoting ebeckers
{quote} 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 ?
I set it below the arrow
  • #243
  • Nov 21, 2017 8:16am Nov 21, 2017 8:16am
Quoting mrdfx
{quote} That looks good to me. That trade is also doing well, about 40+ pips now.
Yep started of nicely, target is 240 pips.. so still a long way to go. Hopefully end of next week
  • #244
  • Nov 21, 2017 8:24am Nov 21, 2017 8:24am
Quoting ebeckers
{quote} Yep started of nicely, target is 240 pips.. so still a long way to go. Hopefully end of next week
That's a 1:6 RR, very nice, good luck!
Truth is like poetry. And most people f*cking hate poetry.
  • #245
  • Nov 21, 2017 3:06pm Nov 21, 2017 3:06pm
Quoting mrdfx
{quote} 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...
Thanks mrdfx. A few things to consider in the next few days,ill try a few out and see what sits best with me.
Thanks for taking the time to reply.
D.
  • #246
  • Nov 22, 2017 3:52am Nov 22, 2017 3:52am
Hi mrdfx. Please why are you not sharing your results from live account in your profile anymore?
  • #247
  • Nov 22, 2017 6:02am Nov 22, 2017 6:02am
Quoting hobbyt3
Hi mrdfx. Please why are you not sharing your results from live account in your profile anymore?
Quite rude if you ask me.
mrdfx takes the time and effort to share and explain his strategy with us
and all you can ask is why he doesnt share the results from his live account ?
Why not try the strategy yourself, perhaps on a demo account, and find out if it works for you or not ??
just m 2 cnts
  • #248
  • Nov 22, 2017 6:41am Nov 22, 2017 6:41am
Hey guys, I've entered 2 sell orders on GBPCAD and GBPCHF. Lets see how it goes.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screen Shot 2017-11-22 at 10.30.13 AM.png Size: 169 KB
Click to Enlarge Name: Screen Shot 2017-11-22 at 10.30.39 AM.png Size: 175 KB
Truth is like poetry. And most people f*cking hate poetry.
  • #249
  • Nov 22, 2017 7:11am Nov 22, 2017 7:11am
Quoting mrdfx
Hey guys, I've entered 2 sell orders on GBPCAD and GBPCHF. Lets see how it goes. {image} {image}
Both running in nice profit.
Truth is like poetry. And most people f*cking hate poetry.
  • #250
  • Nov 22, 2017 7:52am Nov 22, 2017 7:52am
one question

do you consider anything else to enter the trades

because i see lots of opportunities and you only took 2 trades

i took a lot more
  • #251
  • Nov 22, 2017 8:07am Nov 22, 2017 8:07am
ebeckers if i didnt ask you please shut up i asked because one day ago he shared it...thats all
  • #252
  • Nov 22, 2017 8:12am Nov 22, 2017 8:12am
Quoting hobbyt3
ebeckers if i didnt ask you please shut up i asked because one day ago he shared it...thats all
cool down man


we are all here to help each other
  • #253
  • Nov 22, 2017 8:25am Nov 22, 2017 8:25am
Quoting hobbyt3
ebeckers if i didnt ask you please shut up i asked because one day ago he shared it...thats all
Your first post in this thread contributed nothing constructive to the actual topic, now your second post is disrespecting other fellow members. If you have nothing positive to contribute towards this strategy or thread then feel free to post elsewhere.
Truth is like poetry. And most people f*cking hate poetry.
  • #254
  • Nov 22, 2017 9:27am Nov 22, 2017 9:27am
Quoting alhalawi
one question do you consider anything else to enter the trades because i see lots of opportunities and you only took 2 trades i took a lot more
There can be multiple opportunities on 1 day, but that doesn't necessarily mean I will trade everything I see. I was looking at GBP and noticed that it is weak today so those trades should go well. There might be other opportunities to trade for sure, but you only need 1-2 pairs to make enough pips for the day.
Truth is like poetry. And most people f*cking hate poetry.
  • #255
  • Nov 22, 2017 10:09am Nov 22, 2017 10:09am
Mrdfx i like this strategy and i like your work here. My first post in this thread was only normal question, if have you got some problem with that question i am sorry for that. Before my second post that follow member disrecpected me first with argument that i am rude.

I hope this little fight is in the end and we will now focused only to trading again. Sorry for disturbing i just asked ...
  • #256
  • Nov 22, 2017 11:46am Nov 22, 2017 11:46am
Quoting hobbyt3
Mrdfx i like this strategy and i like your work here. My first post in this thread was only normal question, if have you got some problem with that question i am sorry for that. Before my second post that follow member disrecpected me first with argument that i am rude. I hope this little fight is in the end and we will now focused only to trading again. Sorry for disturbing i just asked ...
no worries, lets focus on trading, much more fun :-)
Personally i didn't take any trade today. Got some swing trades running which seem to be turning out great.
GBPCAD.. i think short term it would be a good trade. But get out when you have (enough) profit Price action is right on a major weekly level, so we have to see what it will do during the next days.
Attached Image (click to enlarge)
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  • #257
  • Nov 22, 2017 1:48pm Nov 22, 2017 1:48pm
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.
What is your opinion about trading this strategy on D1 and W1? Have you ever tried it?
  • #258
  • Nov 22, 2017 2:41pm Nov 22, 2017 2:41pm
Quoting yalgaar
{quote} What is your opinion about trading this strategy on D1 and W1? Have you ever tried it?
I have not tried on those time frames, I'm sure it would also work well, but you would need to have a lot of patience to wait for good set ups.
Truth is like poetry. And most people f*cking hate poetry.
  • #259
  • Nov 22, 2017 2:44pm Nov 22, 2017 2:44pm
Quoting hobbyt3
Mrdfx i like this strategy and i like your work here. My first post in this thread was only normal question, if have you got some problem with that question i am sorry for that. Before my second post that follow member disrecpected me first with argument that i am rude. I hope this little fight is in the end and we will now focused only to trading again. Sorry for disturbing i just asked ...
Ok well lets all get along ey?

With regards to my live account that was in my TE, I removed it as it was not an entirely accurate representation of this strategy. I trade other set ups that are not related to this strategy so I thought it best to remove it from public view.
Truth is like poetry. And most people f*cking hate poetry.
  • #260
  • Nov 22, 2017 3:36pm Nov 22, 2017 3:36pm
Quoting mrdfx
{quote} I have not tried on those time frames, I'm sure it would also work well, but you would need to have a lot of patience to wait for good set ups.

Daily is good, catch some great moves, used a always in the market strategy
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