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Buy/Sell anytime and set forget

  • #21
  • Dec 2, 2017 7:51am Dec 2, 2017 7:51am
Quoting cowcool
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 {quote} {image} {image}
Let us address a few things...I will attempt to pick apart your chart and give you a little hint here and there.
Take it if you want to or not. It is all up to you.

  1. Monthly-Positional Trading?
  2. H4-D1: Are swing trading or day trading?
  3. H4 and H1- quick trades and quick profits?

If you require quick profits, you got to look for the ideal setup and identify it, i will use your heiken ashi and keep things simple.
One thing you might want to do is take mental notes, we will start from monthly as you have it and go down to your weekly and daily.
I want to keep things relevant.
Nb. This method has less trade opportunities the higher the timeframe for entry but expect to stay in them for a while.

R:R "Percentage Focus"
  • #22
  • Dec 2, 2017 8:12am Dec 2, 2017 8:12am
My Target is 7-R multiple a month

Monthly - Candle entry D1 ... Target 1 MO ATR(7) - duration of holding position 1 month

Weekly - Candle entry H4 ... Target AWR or 1 W1 ATR(7) - duration of holding position 1 week

D1 - Candle entry H1 - Target 1 ADR - duration of holding position 1 to 3 days.

I am usually monitoring 10 pairs ...









Quoting PrinceJ58
{quote} Let us address a few things...I will attempt to pick apart your chart and give you a little hint here and there. Take it if you want to or not. It is all up to you. Monthly-Positional Trading? H4-D1: Are swing trading or day trading? H4 and H1- quick trades and quick profits? If you require quick profits, you got to look for the ideal setup and identify it, i will use your heiken ashi and keep things simple. One thing you might want to do is take mental notes, we will start from monthly as you have it and go down to your weekly and daily....
Life Is Good
  • #23
  • Dec 2, 2017 8:16am Dec 2, 2017 8:16am
Quoting cowcool
My Target is 7-R multiple a month Monthly - Candle entry D1 ... Target 1 MO ATR(7) - duration of holding position 1 month Weekly - Candle entry H4 ... Target AWR or 1 W1 ATR(7) - duration of holding position 1 week D1 - Candle entry H1 - Target 1 ADR - duration of holding position 1 to 3 days. I am usually monitoring 10 pairs ... {quote}
As I say i will keep things simple. My prefered asset will be XAUUSD. On your chart take a blank chart with heiken ashi since you are using this.
Take off the moving averages, tdi and everything, forget all of that for a second but do this on a different chart from your template.
R:R "Percentage Focus"
  • #24
  • Dec 2, 2017 8:17am Dec 2, 2017 8:17am
Here is my gold chart.
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD.proMonthly.png Size: 64 KB
R:R "Percentage Focus"
  • #25
  • Dec 2, 2017 8:18am Dec 2, 2017 8:18am
To the weekly
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD.proWeekly.png Size: 80 KB
R:R "Percentage Focus"
  • #26
  • Dec 2, 2017 8:30am Dec 2, 2017 8:30am
I add support and resistance on weekly but in relation to the current action.
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD.proWeekly Support and resistance.png Size: 70 KB
R:R "Percentage Focus"
  • #27
  • Dec 2, 2017 8:31am Dec 2, 2017 8:31am
Now daily chart.
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD.proDaily.png Size: 63 KB
R:R "Percentage Focus"
  • #28
  • Dec 2, 2017 8:38am Dec 2, 2017 8:38am
HI

i want a robot which just check balance and send order. i am not coder. i dont know how to code. just i set some of pairs of currencies in it and it trade buy or sell which i set in it.

variables major currency pairs, buy, sell

check balance each time.

kindly reply any one. this would be good help for me.
  • #29
  • Dec 2, 2017 8:39am Dec 2, 2017 8:39am
I utilized equidistant channel to draw trendlines, it allow me to draw both support and resistance in a trending formation.
Then i add actual horizontal lines for support and resistance from previous price action.

For an area to be significant it has to have 2-3 touches or more.
Establish the direction of the market, like a five year (5) old would.
Then all i do is wait. For the bounce/rejection and go with it.
When Trading heiken ashi its all about that Doji.
R:R "Percentage Focus"
  • #30
  • Dec 2, 2017 8:41am Dec 2, 2017 8:41am
I will now do another method.
Lets call this line break with Moving average or trend direction.
I did not do it perfectly but each time price action gets on the other side of the line you trade it in that direction.
Attached Image (click to enlarge)
Click to Enlarge Name: Break of Lines XAUUSD.proDaily.png Size: 62 KB
R:R "Percentage Focus"
  • #31
  • Dec 2, 2017 8:53am Dec 2, 2017 8:53am
Arrows will be entries for the day trader, every 4 hours you can check your chart, but with heiken ashi you just need one of those entries.
What if you could get a Trendline e.a. that once you do your charting on higher timeframes and come down you just trading in accordance to the doji and trend line break. using recent support and resistance as targets and exits etc. I have to leave, so until later.
Attached Image (click to enlarge)
Click to Enlarge Name: Arrow entries.png Size: 69 KB
R:R "Percentage Focus"
  • #32
  • Dec 2, 2017 8:56am Dec 2, 2017 8:56am
Quoting PrinceJ58
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...
Good one man...
  • #33
  • Dec 2, 2017 10:19am Dec 2, 2017 10:19am
Quoting aaven
{quote} Good one man...
It is true @aaven anyone can do it, the struggle is in our minds.
R:R "Percentage Focus"
  • #34
  • Dec 3, 2017 12:01am Dec 3, 2017 12:01am
Quoting madhavbs
HI i want a robot which just check balance and send order. i am not coder. i dont know how to code. just i set some of pairs of currencies in it and it trade buy or sell which i set in it. variables major currency pairs, buy, sell check balance each time. kindly reply any one. this would be good help for me.
There is more to a system when being coded. Figure out what will determine direction of trade. Identify what method of trading you are doing & look at the good and bad of the method. Ensure that you practice practice. Real money practice is different from demo any day. Well that is my belief (psychological impact is different). Generate a journal for your research before seeking this assistance. There are ways to get it fast but you must know what you want in detail. As what you ask is what you will surely get.
R:R "Percentage Focus"
  • #35
  • Dec 3, 2017 12:34am Dec 3, 2017 12:34am
Everything i tried, I was told that it will not work as everyone had an opinion of what they are seeing and thinking. Just remember that anything in the thought can be realized you just need the right people around you to make it happen.

The man who looked at the birds and said he is going to fly everyone thought he was crazy but yet it still happened now we have planes; the man with the Lightbulb, now we don't have to rely only on sun or the moon & I could find many more examples but in life people are free to have opinions but the ones who stick to the plan no matter what are the ones that overcome and become the extra ordinary. I say all that to say that Trading is no different, it is not simple a b d shiuld be taken as serious as a university course, when you get to the place that you know what you are looking for and you are discipline at it, it can become boring and monotonous but it's the results that keeps you pushing.

Push until something happens. 6 months and breakeven, it could have been 6 months and only losses too. The main aim is to protect capital. I could show you one candle pattern that can make the world of difference. And I will. It's always seen in a trending scenario. I will tell you so you can start looking. Look up reversal bars versus continuation. I love pinbars and stars:

  1. shooting stars/ evening stars which is best found in a trending market.
  2. Hammers/ morning stars found in a downtrend


Color's for the above is no major factor just the area where the formation happened. I also have filters but no coder to code it. I have typical indicators that only looks good after the fact but in live trading is an apology. I know of traders who make a living trading these candle patterns.

Heiken ashi will not show this, which is why you have to study wick direction-(strength) in heiken ashi and doji's, bounces and breaks.
Heiken ashi you have to look for price patterns. Candlesticks give more detail but can be misleading. Heiken ashi can make you late and make you stay in a trade when you should have been out as well as keep you in a potentially good trade.

So continue to research and make your notes, it's only those who take their goals into action gets satisfaction. The more you share the quicker you solve the puzzle. You may see it clearer without anyone telling you aswell.


Later.

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?
R:R "Percentage Focus"
  • #36
  • Dec 7, 2017 1:36pm Dec 7, 2017 1:36pm
Did you find a solution?
R:R "Percentage Focus"
  • #37
  • Jan 24, 2018 9:38am Jan 24, 2018 9:38am
Having a mind set of a scalper, you can't apply set and forget formula. It's very common that in higher time frame you will get less trade opportunity than lower time frame. Trading is the combination of all aspects. In higher timeframe you get more pips in a single trade. You have to understand your limitations and act accordingly.
  • #38
  • Last Post: Jan 27, 2018 6:57am Jan 27, 2018 6:57am
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?
Use higher time frame like D1 or H4. In lower time frame there is too much volatility comparing to higher time frame. Set and forget formula is basically used in higer time frame. And it is very simple a D1 candle takes one day to be formed that's why it will take more time to get profit in D1. You can't expect same thing in D1 that you get in m15.
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