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Buy/Sell anytime and set forget

  • #1
  • First Post: Edited 8:49pm Dec 1, 2017 3:59am | Edited 8:49pm
My issue is patience and tiredness , what i want to achieve is to spend 2 hrs each day and enter a trade profitably and then set and forget.

I am tired of sitting glued to my pc all day round.


is there a way to achieve this?

Solution:
- Open many D1 Pairs pick the best one and enter from D1.

Drawback : not too many chances . Onnly 1 trade or less per day and it can sometime takes few days before TP is hit

Any other ways to do this profitably other than switching to d1?
Life Is Good
  • #2
  • Dec 1, 2017 4:04am Dec 1, 2017 4:04am
Quoting cowcool
My issue is patience and tiredness , what i want to achieve is to spend 2 hrs each day and enter a trade and then set and forget. I am tired of sitting glued to my pc all day round. is there a way to achieve this? Solution: - Open many D1 Pairs pick the best one and enter from D1. Drawback : not too many chances . Onnly 1 trade or less per day and it can sometime takes few days before TP is hit Any other ways to do this?
D1 or H4. H4 will get you more opportunities. D1 will get you less but you still be able to have more trades going at a time by being able to trade more pairs due to using less leverage. This may or may not be a good thing though. Sometimes less is more in my personal experience.
  • #3
  • Dec 1, 2017 4:15am Dec 1, 2017 4:15am
any other solutions other than switching to D1? picking a good setup out of 20 pairs can be overwhelming but in D1 its doable.
Life Is Good
  • #4
  • Dec 1, 2017 5:48am Dec 1, 2017 5:48am
Look only at high yield and high volatility combined and at longer term charts to begin.
Nzd Chf Long
Eur Nzd Short
Aud Chf Long
Nzd Jpy Long
Eur Aud Short
Gbp Nzd Short
Aud Jpy Long
Usd Chf Long
Gbp Aud Short
Cad Chf Long

Gbp Aud highest volatility followed by Eur Nzd which is slowly topping be careful and use limit orders and adjust the levels. I am awake at a time I never can be paying attention and must be asleep. Until I move to the mainland, and because of other exigencies in my schedule, I cannot trade at all unless I do it in this way.
  • #5
  • Dec 1, 2017 6:31am Dec 1, 2017 6:31am
In life anything is possible, Plan it, Believe in the plan, Test it, test it, Write the rules/findings, adjust it, fine tune it, and ensure that you do not get distracted from the main aim/goal.

There is more to it than just looking at a daily chart, trading has three things to consider, Technical, fundamentals and sentiments. There are pivots, moving averages, price patterns, candle patterns. It all depends on how much pips you are aiming for, account balance, comfort zone-meaning tolerance level, trading based on the daily means you have to wait until end of every day to analyse, trades will be much longer, lasting for couple days to possible weeks.

So its not just about setting and forgetting like that, you need:

  1. good entry
  2. Direction Bias
  3. Weekend Home work
  4. Keep in touch with fundamentals
  5. Patience & tiredness-Daily chart will teach you patience indeed, if that's what you need.
  6. Daily can be your bias but are trend trading, scalping, etc I could go more but you need to figure out some things.

Explain what you used to do in front of the computer for hours and success or failure. Share a chart and what you want to achieve.

R:R "Percentage Focus"
  • #6
  • Dec 1, 2017 6:49am Dec 1, 2017 6:49am
I trade any pairs that are trending by looking at w1 and mo for directional bias d1 is really choppy for directional bias


Quoting Greenstar
Look only at high yield and high volatility combined and at longer term charts to begin. Nzd Chf Long Eur Nzd Short Aud Chf Long Nzd Jpy Long Eur Aud Short Gbp Nzd Short Aud Jpy Long Usd Chf Long Gbp Aud Short Cad Chf Long Gbp Aud highest volatility followed by Eur Nzd which is slowly topping be careful and use limit orders and adjust the levels. I am awake at a time I never can be paying attention and must be asleep. Until I move to the mainland, and because of other exigencies in my schedule, I cannot trade at all unless I do it in this way.
Life Is Good
  • #7
  • Dec 1, 2017 7:12am Dec 1, 2017 7:12am
Quoting cowcool
I trade any pairs that are trending by looking at w1 and mo for directional bias d1 is really choppy for directional bias {quote}
Now you are starting to layout the foundation.
R:R "Percentage Focus"
  • #8
  • Dec 1, 2017 7:38am Dec 1, 2017 7:38am
Quoting cowcool
I trade any pairs that are trending by looking at w1 and mo for directional bias d1 is really choppy for directional bias {quote}
What determines entry?
R:R "Percentage Focus"
  • #9
  • Dec 1, 2017 7:49am Dec 1, 2017 7:49am
I definitely agree with looking at Higher TF's. I also agree with J58's comment about Test, Test, Test.

Recently found out (in my opinion) how H4 tends to be the heart of the trends, for the purpose of getting many good entries, compared to D1 & higher.

Right now I'm finding best success with lower daily average pairs. UCad & NU, have both proven to be consistent. Other low average pairs also look to have potential, however UCad & NU are the only ones I've compiled stats on, for 2017.

UCAD has averaged over 100p, each month, with only a 32% win rate. At one point it had a record of 1 Win & 11 Losses (6 losses, followed by one win, and 5 more losses). What makes up for it, is catching the long runs, every few months.

NU is much slower, only averaging about 60 pips monthly. Both pairs offer up about 4 trades monthly.

These numbers include manipulation of entries and exits, on, and around NFP.

For UCAD I used 72 & 18 SMMA's, with entries once price was beyond both. Exits with close coming back across 18.

With NU, I found a layered channel to work best. The channel consists of the 30 SMMA, Close, High & Low. On the 30 Close, I added 25 pip levels on either side. Entry must break outer level, by at least 10 pips, or have 2 closes outside outer levels. Exits are at opposite 30 high or low. On a short, your SL goes to the 30 High. I found that using a trailing stop of 80 helps to grab more pips on strong trends. In one case price advanced 153 pips, and letting it stop out at the 30 (Low) only netted 1 pip. Using the TS that added 70 pips.

That's basically it. Good hunting and if you try either of these, write it up.
  • #10
  • Dec 1, 2017 7:51am Dec 1, 2017 7:51am
Entry is candle patterns at h4/d1 time frame.

W1/Mo Directional bias UP .... wait until D1 reached oversold level and buy from there and vice versa.

But this thread isnt about discussing swing trading..

lets get back to the original topic...

Is there a way to be able to enter anytime profitably?
Life Is Good
  • #11
  • Dec 1, 2017 9:53am Dec 1, 2017 9:53am
Ok i see Nikos Mermigas on youtube has a set and forget system, looks simple, but could be a lethal weapon if figured out.
Inserted Video

Inserted Video



The next thing is securing profits, in this trading environment, which has changed and will continue to change. Will the process be adaptive or only conditional? How do you know when conditions are right for it?etc
R:R "Percentage Focus"
  • #12
  • Dec 1, 2017 10:00am Dec 1, 2017 10:00am
Quoting PrinceJ58
Ok i see Nikos Mermigas on youtube has a set and forget system, looks simple, but could be a lethal weapon if figured out. https://www.youtube.com/watch?v=zHFO_bsldh0&t=355s https://www.youtube.com/watch?v=oq7A...yo1dgQ6YWAnfwg The next thing is securing profits, in this trading environment, which has changed and will continue to change. Will the process be adaptive or only conditional? How do you know when conditions are right for it?etc


Once conditions are met he sets his orders same time everyday.
R:R "Percentage Focus"
  • #13
  • Dec 1, 2017 10:20am Dec 1, 2017 10:20am
Quoting cowcool
My issue is patience and tiredness , what i want to achieve is to spend 2 hrs each day and enter a trade and then set and forget. I am tired of sitting glued to my pc all day round. is there a way to achieve this? Solution: - Open many D1 Pairs pick the best one and enter from D1. Drawback : not too many chances . Onnly 1 trade or less per day and it can sometime takes few days before TP is hit Any other ways to do this other than switching to d1?
My issue is patience and tiredness , what i want to achieve is to spend 2 hrs each day and enter a trade and then set and forget.-Setting or tweaking your method around this will be important.

I am tired of sitting glued to my pc all day round.-If the time was profitable, it would be no problem, right?


is there a way to achieve this? Yes, Risk to reward and system must have tp and sl, that is growth oriented.

Solution:
- Open many D1 Pairs pick the best one and enter from D1.- Sounds like a dashboard or scanner will do the trick. Many charts will be heavy on most computers.
Drawback : not too many chances . Only 1 trade or less per day and it can sometime takes few days before TP is hit- Not really all depends on what is required to be comfortable- or in other words, figuring out what would make you do it everyday and not feel bad doing it, but encourage, since the light, water, gas etc etc will be covered through this routine of set and forget.

Any other ways to do this other than switching to d1? Yes H1 could be used, m30 etc, all depends on what is needed.

Suppose you are a vicious trader, and want to compound? 5-10 pips would be great?
What if you needed peace of mind, then would 50- 100 pips, do you great?
Google risk to reward and post the chart here. 1:1, 1:2, 1;3, 1:4 etc, and the likely hood of profits being hit and how will it be protected, how do you deal with draw down. etc etc.
R:R "Percentage Focus"
  • #14
  • Dec 1, 2017 10:33am Dec 1, 2017 10:33am
So if the daily and weekly bias is up, how do you know, candle direction, weekly open, daily open, daily close, weekly close, moving averages, currency strength, pivots, fibs.

All trading conditions might not be present in the 2 hours you choose, what about news, tweets, missile testings?

However lets look on the positive side:
Weekly and daily is up, we looking to buy/long entries, where would the perfect/ideal long entry be?
Weekly and daily is down, we looking to sell/short entries, where would the perfect/ideal short entry be?
What about stop loss, exit points and take profit targets.
When will it be too late to enter, why, whats the reason?
R:R "Percentage Focus"
  • #15
  • Dec 1, 2017 8:27pm Dec 1, 2017 8:27pm
I never pay attention to news and fundamental, in my experience PA make the news not vice versa. I only avoid intraday trading during FOMC and NFP. other red news , i only increase my SL size before entry.
I focus on PA and correlation. PA 75 % , correlation 25%





Quoting PrinceJ58
So if the daily and weekly bias is up, how do you know, candle direction, weekly open, daily open, daily close, weekly close, moving averages, currency strength, pivots, fibs. All trading conditions might not be present in the 2 hours you choose, what about news, tweets, missile testings? However lets look on the positive side: Weekly and daily is up, we looking to buy/long entries, where would the perfect/ideal long entry be? Weekly and daily is down, we looking to sell/short entries, where would the perfect/ideal short entry be? What about stop...
Life Is Good
  • #16
  • Dec 1, 2017 8:49pm Dec 1, 2017 8:49pm
My two cents: do your analysis to identify where you want to trade, then put a price alert somewhere near it. You'll have a heads up when it's time to have a look, then all that's left Is to watch price action at that level and decide go/no go and when to get in. Works on all time frames... Except scalping I suppose
  • #17
  • Dec 2, 2017 1:12am Dec 2, 2017 1:12am
Quoting PrinceJ58
Weekly and daily is up, we looking to buy/long entries, where would the perfect/ideal long entry be?
@ weekly up and daily down
  • #18
  • Dec 2, 2017 2:10am Dec 2, 2017 2:10am
Quoting cowcool
My issue is patience and tiredness , what i want to achieve is to spend 2 hrs each day and enter a trade profitably and then set and forget. I am tired of sitting glued to my pc all day round. is there a way to achieve this? Solution: - Open many D1 Pairs pick the best one and enter from D1. Drawback : not too many chances . Onnly 1 trade or less per day and it can sometime takes few days before TP is hit Any other ways to do this profitably other than switching to d1?
MY suggestion would be to learn how to code (or hire someone) but only if you are profitable and sick of starring at charts like I was several years ago when I reached my breakeven point and suddenly realize whether the past 7-8 yrs of utter grief was worth it (and I wasn't even starring at charts more than 60 mins at a time.

Most if not 99% discretionary traders fail after 3+yrs because their butts are sore and lifestyle goes down the drain, lose friends, family, social life, get divorced get depressed etc. It's really not worth it but try and explain that to a new and motivated trader...they won't budge until 10yrs of suffering. Either that or they are pure lazy and try automated junk and continue to fail from day1 :-

EDIT: No disrespect to the above replies. regardless of whether you have a profitable strategy or not, discussing it with other forum members will most definitely turn you into a long term loser. Only YOU can figure out what works for you and your lifestyle. No one else can or should.
Staying in my lane...
  • #19
  • Dec 2, 2017 7:07am Dec 2, 2017 7:07am
Minimum R:R is 1:2
Position sizing per trade 5 percent
Result after 140 plus trades is break even

Directional Bias W1 and Mo
Trigger candle H4/D1
Conditions:
W1 bias Up
===========
- Buy from H4 when H4 is in TDI 40 to 68
- Only buy when pair correlation is favourable e.g. GBPLFX up and NZDLFX down, this mean we should long on GND
Please open the attached images


Quoting PrinceJ58
So if the daily and weekly bias is up, how do you know, candle direction, weekly open, daily open, daily close, weekly close, moving averages, currency strength, pivots, fibs. All trading conditions might not be present in the 2 hours you choose, what about news, tweets, missile testings? However lets look on the positive side: Weekly and daily is up, we looking to buy/long entries, where would the perfect/ideal long entry be? Weekly and daily is down, we looking to sell/short entries, where would the perfect/ideal short entry be? What about stop...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: weeklybias.jpg Size: 155 KB
Click to Enlarge Name: entry.jpg Size: 155 KB
Life Is Good
  • #20
  • Dec 2, 2017 7:34am Dec 2, 2017 7:34am
I see i see...Whats your target...For argument sake How many profitable trades do you require to be a happy lad?
R:R "Percentage Focus"
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