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Trading is as simple as 1-2-3

  • #5,321
  • Nov 30, 2017 5:45am Nov 30, 2017 5:45am
Attached Image (click to enlarge)
Click to Enlarge Name: 1130nz.png Size: 19 KB

This NZ took two hours to move, but I love these set up, stop was only 5 pips. +5 locked
  • #5,322
  • Edited 6:52am Nov 30, 2017 5:50am | Edited 6:52am
GJ +13. Hit my 10 trailing stop


My Trade Rules:
HOLO 1-2-3
1) Bar that makes new daily Hi/Lo MUST reverse somewhat and close further from the high as possible.
2) Best is if the ADR HI/LO is near setup
3) Ignore Asian session setups, MAYBE only trade AUD pairs during AO. Best time to trade will be LO all the way till the close of LO. Therefore, ignore remainder of US session once LO is closed
Attached Image (click to enlarge)
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  • #5,323
  • Edited 6:52am Nov 30, 2017 6:28am | Edited 6:52am
EU +10. Hit my trailing stop. Currently i am avoiding Asian session completely, only take setups Just before LO up till close of LO. So i ignore late US sessions too. i will usually ignore candles that make a new high/lo but show little to no signs of reversing before a close. Seems to work so far. Plus when im 10 pips up i move to BE and set a trailing. I am keen to know the trade managements and strategies that you guys use to help me improve


My Trade Rules:
HOLO 1-2-3
1) Bar that makes new daily Hi/Lo MUST reverse somewhat and close further from the high as possible.
2) Best is if the ADR HI/LO is near setup
3) Ignore Asian session setups, MAYBE only trade AUD pairs during AO. Best time to trade will be LO all the way till the close of LO. Therefore, ignore remainder of US session once LO is closed
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 110 KB
  • #5,324
  • Nov 30, 2017 6:48am Nov 30, 2017 6:48am
UJ +5 pips locked


My Trade Rules:
HOLO 1-2-3
1) Bar that makes new daily Hi/Lo MUST reverse somewhat and close further from the high as possible.
2) Best is if the ADR HI/LO is near setup
3) Ignore Asian session setups, MAYBE only trade AUD pairs during AO. Best time to trade will be LO all the way till the close of LO. Therefore, ignore remainder of US session once LO is closed
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 107 KB
  • #5,325
  • Nov 30, 2017 8:24am Nov 30, 2017 8:24am
UCHF +10. This was a unique case and abit risky. As you can see, price had actually made a new high 4 bars back. i missed the entry as i was working, a good thing too cuz the folliwing 2 bars from the Daily high bar made high highs toward the daily high without hardly retracing. On the bar where i took my entry (marked with a red dot), i considered that bar to be a proper test and rejection of daily high and then entered. Once 10 pips in profit i set to BE and slapped on a trailer of 10 pips. As you can see it hit my trailer (not too sure if im using Trailing stops correctly) and ended up wiht 10 pips. Couldve been more obviously as u can see.

My Trade Rules:
HOLO 1-2-3
1) Bar that makes new daily Hi/Lo MUST reverse somewhat and close further from the high as possible.
2) Best is if the ADR HI/LO is near setup
3) Ignore Asian session setups, MAYBE only trade AUD pairs during AO. Best time to trade will be LO all the way till the close of LO. Therefore, ignore remainder of US session once LO is closed
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 75 KB
  • #5,326
  • Nov 30, 2017 8:44am Nov 30, 2017 8:44am
Quoting benjamintoh8
UCHF +10. This was a unique case and abit risky. As you can see, price had actually made a new high 4 bars back. i missed the entry as i was working, a good thing too cuz the folliwing 2 bars from the Daily high bar made high highs toward the daily high without hardly retracing. On the bar where i took my entry (marked with a red dot), i considered that bar to be a proper test and rejection of daily high and then entered. Once 10 pips in profit i set to BE and slapped on a trailer of 10 pips. As you can see it hit my trailer (not too sure if im...


OMG I am really upset now! If it hadn't hit my 10 pip trailer it would be more than double the amount now! Guy's need some advice on the trade management rules you apply. I seem to be missing out on the really big moves. Are my trailing stops too tight? What are some suggestions for managing trades once they have been set to BE and to let it run? What are some things we look at to exit other than a trailing stop
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  • #5,327
  • Nov 30, 2017 9:28am Nov 30, 2017 9:28am
Quoting benjamintoh8
GJ +13. Hit my 10 trailing stop My Trade Rules: HOLO 1-2-3 1) Bar that makes new daily Hi/Lo MUST reverse somewhat and close further from the high as possible. 2) Best is if the ADR HI/LO is near setup 3) Ignore Asian session setups, MAYBE only trade AUD pairs during AO. Best time to trade will be LO all the way till the close of LO. Therefore, ignore remainder of US session once LO is closed {image}
Fair enough. Run it and see how it goes and let us know! Good luck.

One thing I'd say to possibly consider, is looking at UC in the period you are going to ignore, as often you will get a ''middle-move'' in that session on that pair. It may not be as big a runner as a ''top'' or a ''tail'' but it does bag some nice, friendly, percents
  • #5,328
  • Nov 30, 2017 9:44am Nov 30, 2017 9:44am
Quoting benjamintoh8
{quote} OMG I am really upset now! If it hadn't hit my 10 pip trailer it would be more than double the amount now! Guy's need some advice on the trade management rules you apply. I seem to be missing out on the really big moves. Are my trailing stops too tight? What are some suggestions for managing trades once they have been set to BE and to let it run? What are some things we look at to exit other than a trailing stop {image}
Well, first off - don't be too eager to dismiss the profit you have made today. Hardly a pig-in-a-poke. It is too easy to get hung up on the ones that got away and forget about the fact that you have safe cash in the bank. You're thinking of yourself as someone who lost thirty, rather than the winner of thirty (or whatever it was) that you are. That is very bad psychologically. There is a very human tendency to forget about all the other ones that in the same situation would have brought big losses if you hadn't had your stop where it was.

Anyway. Best way to stop your SL being hit is to have not moved it all up at all. I know HAL chops-and-changes in different circumstances at the moment (take 50% off, 50% run just now I think) but to play the odds, taking around 85 - 90% off at +5 and then letting the remainder run without dragging the stop up is the way to go, imo. You can also look at the possibility of adding in to your position on pullbacks (if you are not willing to add-in, then some would say that you may as well close your position). Not something for rookies perhaps but you seem to be a good distance removed from rookie status.

I myself, use counter trading to cover any trade going negative but I don't go into that here, as I feel that is one bridge too far for most traders' mind-sets.
  • #5,329
  • Nov 30, 2017 9:59am Nov 30, 2017 9:59am
Quoting lemercenaire
{quote} Well, first off - don't be too eager to dismiss the profit you have made today. Hardly a pig-in-a-poke. It is too easy to get hung up on the ones that got away and forget about the fact that you have safe cash in the bank. You're thinking of yourself as someone who lost thirty, rather than the winner of thirty (or whatever it was) that you are. That is very bad psychologically. There is a very human tendency to forget about all the other ones that in the same situation would have brought big losses if you hadn't had your stop where it was....

Thanks for the kind words! Btw, im actually thinking of not using a traditional trailing stop but rather i need something that locks in a certain percentage of pips (say 30 or 50%) when profit reaches say, 20 pips. Then once it head up another 20 pips (total 40pips), the ea can then move the stop up by the preset percentage. I think this is better than a traditional trailing stop. Any EA's around for such? Do you guys use automated trade management or manual. Like you mentioned you take of 50% of postion at +5 and let the rest run. Is that manual or automated? Thanks in advance!
  • #5,330
  • Nov 30, 2017 10:09am Nov 30, 2017 10:09am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,331
  • Nov 30, 2017 10:12am Nov 30, 2017 10:12am
Quoting benjamintoh8
GJ +13. Hit my 10 trailing stop My Trade Rules: HOLO 1-2-3 1) Bar that makes new daily Hi/Lo MUST reverse somewhat and close further from the high as possible. 2) Best is if the ADR HI/LO is near setup 3) Ignore Asian session setups, MAYBE only trade AUD pairs during AO. Best time to trade will be LO all the way till the close of LO. Therefore, ignore remainder of US session once LO is closed {image}
I see you modified the trade rules.

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Attached Image


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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,332
  • Nov 30, 2017 10:26am Nov 30, 2017 10:26am
Quoting TooSlow
{quote} I see you modified the trade rules. {image} {image} {image}
looks like I have gotten the attention of Too Slow now Hi sir, really nice thread you have going on here, am reading and learning. which parts of the trade rules am I modifying ? I don't know if that's a good or bad thing . I'm just creating some filters to prevent me from take some bad setups . if you look at the charts , you will notice alot of new highs or lows being formed during the asian session and this is not unexpected as that's exactly when the 1700 new York time opens a new daily candle . if we stick to the rules vanilla during tjat period we would be slaughtered no? let me know your thoughts on it . also , if for example a really strong h1 candle makes a new daily high during trading hours and just retraces a tiny bit before closing , wouldn't it then be risky to take the short trade on the next candle when the price for example tests the highs in the first say 2 mins and then goes past the opening price. say you enter then , and it's only like 5mins into that bar. wouldn't the possibility of a push up remain a threat to hit sl ? please let me know your thoughts on this too sir. I'm not trying to offend or be irritating. I'm asking all these so as to learn. Thanks in advance !
  • #5,333
  • Nov 30, 2017 12:12pm Nov 30, 2017 12:12pm
Quoting benjamintoh8
{quote} Thanks for the kind words! Btw, im actually thinking of not using a traditional trailing stop but rather i need something that locks in a certain percentage of pips (say 30 or 50%) when profit reaches say, 20 pips. Then once it head up another 20 pips (total 40pips), the ea can then move the stop up by the preset percentage. I think this is better than a traditional trailing stop. Any EA's around for such? Do you guys use automated trade management or manual. Like you mentioned you take of 50% of postion at +5 and let the rest run. Is that...
I run my trade management manually but there are a few good progs around that will do what you want. I'd just do a search on FF (or just Google it) - I am sure I have pointed people in the same direction previously.
  • #5,334
  • Nov 30, 2017 12:28pm Nov 30, 2017 12:28pm
Quoting benjamintoh8
{quote} Thanks for the kind words! Btw, im actually thinking of not using a traditional trailing stop but rather i need something that locks in a certain percentage of pips (say 30 or 50%) when profit reaches say, 20 pips. Then once it head up another 20 pips (total 40pips), the ea can then move the stop up by the preset percentage. I think this is better than a traditional trailing stop. Any EA's around for such? Do you guys use automated trade management or manual. Like you mentioned you take of 50% of postion at +5 and let the rest run. Is that...
I'm not sure if this is what you are looking for but you can try this one if you want. Install it as an EA.

Attached File(s)
File Type: ex4 Mrg_Auto_SL_TP_Trailing.ex4   40 KB | 509 downloads
  • #5,335
  • Nov 30, 2017 3:32pm Nov 30, 2017 3:32pm
Quoting bojack34
{quote} I'm not sure if this is what you are looking for but you can try this one if you want. Install it as an EA. {file}
Cheers, Bo. I thought I remembered you finding something.
  • #5,336
  • Nov 30, 2017 6:50pm Nov 30, 2017 6:50pm
Quoting hal7
{quote} Ok, well you are credit worthy, how about honorable mention.
Missed that beauty on EU, as well as GU... once I hit that profit target I stop. Discipline is key, right?
  • #5,337
  • Nov 30, 2017 11:15pm Nov 30, 2017 11:15pm
Quoting bojack34
{quote} I'm not sure if this is what you are looking for but you can try this one if you want. Install it as an EA. {file}
CHeers bro! thanks for this i will give it a shot!
  • #5,338
  • Dec 1, 2017 3:01am Dec 1, 2017 3:01am
Attached Image (click to enlarge)
Click to Enlarge Name: 121ej.png Size: 17 KB

Took this EJ short last hour after it had made the new high +5 locked +12 switched to 10 trailer
  • #5,339
  • Dec 1, 2017 3:09am Dec 1, 2017 3:09am
Stopped out of GU Long here is what happened.

refer to the screenshot ( sorry im using tradignview as i am at work)

1)3rd bar from the right, made a new daily low and reversed.
2) entered on the 2nd bar from the right when price tested the low and retraced to open (i know you cant see it here, but look at the 1 min chart and you will know what i mean)
3) Obviously from the pictyure you can then see that the bar then went on to make a new low, stopping my trade out.

This is what i meant exactly in my first few posts. price tests previous new low or high that was created, retraces back to the open price, we enter, but yet anything can happen until the current candle closes. Any advice is welcome
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  • #5,340
  • Dec 1, 2017 3:12am Dec 1, 2017 3:12am
Attached Image (click to enlarge)
Click to Enlarge Name: 121eu.png Size: 17 KB

Short EU +5 locked
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