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Simple and profitable trading style

  • #2,161
  • Jan 4, 2018 1:51am Jan 4, 2018 1:51am
I decided to join the GBPUSD and EURUSD bears yesterday. It's all about setup and analyses, not profit or loss.
Make all mistakes in demo and rain in pips in live account
  • #2,162
  • Jan 4, 2018 1:13pm Jan 4, 2018 1:13pm
How will resistance 90.078 respond to the the strong trend. It was based on the daily middle band and 4hr upper band
Attached Image (click to enlarge)
Click to Enlarge Name: audjpyg.png Size: 41 KB
Make all mistakes in demo and rain in pips in live account
  • #2,163
  • Jan 4, 2018 1:15pm Jan 4, 2018 1:15pm
Next focus is the USDCAD long. I hope I don't miss it- using the journal here to follow it as I read/reread my post
Make all mistakes in demo and rain in pips in live account
  • #2,164
  • Jan 4, 2018 1:24pm Jan 4, 2018 1:24pm
Same here. Watching 0.80809 resistance level where the previous strong setup was formed. Reversal is easier to trade than continuation. I have been trapping this pair up and down
Attached Image (click to enlarge)
Click to Enlarge Name: audusdff.png Size: 39 KB
Make all mistakes in demo and rain in pips in live account
  • #2,165
  • Jan 4, 2018 1:27pm Jan 4, 2018 1:27pm
I focus more now on reversal than continuation. This is because continuation is faced with problem of strong retracement, even when we're right.
Make all mistakes in demo and rain in pips in live account
  • #2,166
  • Jan 5, 2018 12:43am Jan 5, 2018 12:43am
Quoting 9jatrader
It means that this week I have new setup: CHFJPY long and GBPCHF short I have said something about the strategy on CHFJPY. The two positions are of two different strategies.
CHFJPY correlated pair, EURJPY is great also, though I was afraid of taking both
Make all mistakes in demo and rain in pips in live account
  • #2,167
  • Jan 5, 2018 1:46am Jan 5, 2018 1:46am
Hello, the input signals you find them on D1 and then go on H4 ???
Is it possible to use this technique also for intraday ???
  • #2,168
  • Jan 5, 2018 2:01am Jan 5, 2018 2:01am
Quoting nightfox84
Hello, the input signals you find them on D1 and then go on H4 ??? Is it possible to use this technique also for intraday ???
If I understand you well you mean closing your position same day you entered. It may not work because am swing trading- leaving positions for days, weeks, and months
Make all mistakes in demo and rain in pips in live account
  • #2,169
  • Jan 5, 2018 2:05am Jan 5, 2018 2:05am
The reason I say it may not work is that in most cases retracements occur as soon as you entered the position. Using it in intraday means lots of losses in your positions. During retracement, SL is bound to triggered even when you're right in your analyses. The next candle after your entry could just trigger sl.
Make all mistakes in demo and rain in pips in live account
  • #2,170
  • Jan 5, 2018 2:12am Jan 5, 2018 2:12am
Using the longer time frame candle for sl already indicated that it's not good for intraday trading. In using the longer TF candle that combine to make the setup allows possibility of strong retracement before it finally obeys. I said all these since the beginning of the post/thread
Make all mistakes in demo and rain in pips in live account
  • #2,171
  • Jan 5, 2018 4:31am Jan 5, 2018 4:31am
Happy new year to @9jatrader and the members of this great thread,now i have been back-testing and studying this strategy and so far so good. I decided to try different setting the Bollinger Bands and instead of using 20,2 i use 10,2. You can see from the chart below where i entered EURNZD short trade based on daily and 4hr chart using 10,2 settings. I realised 10,2 gives an earlier signal unlike 20,2. Now my question to you 9jatrader and the members is if anyone else has tried to change the bollinger bands setting and what was the results?
personally i feel 10,2 gives an earlier signal. if this post is against the thread rules,please let me know i pull it down

regards
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Kim
  • #2,172
  • Jan 5, 2018 11:14am Jan 5, 2018 11:14am
Quoting alexkimke
Happy new year to @9jatrader and the members of this great thread,now i have been back-testing and studying this strategy and so far so good. I decided to try different setting the Bollinger Bands and instead of using 20,2 i use 10,2. You can see from the chart below where i entered EURNZD short trade based on daily and 4hr chart using 10,2 settings. I realised 10,2 gives an earlier signal unlike 20,2. Now my question to you 9jatrader and the members is if anyone else has tried to change the bollinger bands setting and what was the results? personally...
Good luck. I have not tried to change the settings. Maybe I would try in one platform. We're all learners here.
Thanks for sharing and new information you gave
Make all mistakes in demo and rain in pips in live account
  • #2,173
  • Jan 5, 2018 11:23am Jan 5, 2018 11:23am
I just lost my second positions on USDCAD long. Maybe for scalping short, but nothing has changed on the monthly- strong Pin Bar
Make all mistakes in demo and rain in pips in live account
  • #2,174
  • Edited 2:19am Jan 6, 2018 2:07am | Edited 2:19am
Working on daily middle band and 4hr much more better. This is because it allows one to have small sl and and maximize target. I have shared this chart before now. What drew attention here again on the pair is the small sl and great pips.
Attached Image (click to enlarge)
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Make all mistakes in demo and rain in pips in live account
  • #2,175
  • Jan 6, 2018 2:09am Jan 6, 2018 2:09am
It's using 86 pips to trap 287 pips for now
Make all mistakes in demo and rain in pips in live account
  • #2,176
  • Jan 6, 2018 2:12am Jan 6, 2018 2:12am
You could see the consolidation support it formed, the red mark. When the opposite is formed- forming resistance, it has the high probability of making strong movement on the bearish setup
Make all mistakes in demo and rain in pips in live account
  • #2,177
  • Jan 6, 2018 2:30am Jan 6, 2018 2:30am
Quoting 9jatrader
{quote} NZDCHF closing with strong Hammer with bullish body. Bullish body increases the the strong bullish bias. EURNZD weekly middle band and daily lower band is on the move.
NZDCHF
Though still trapped around middle band, weekly, yet was able to close with bullish candle
Make all mistakes in demo and rain in pips in live account
  • #2,178
  • Jan 6, 2018 2:36am Jan 6, 2018 2:36am
How was the weekly?
USDCAD was the pair of the week. It made and broke account. I was a victim on my USDCAD long.
The monthly bullish setup still valid
Make all mistakes in demo and rain in pips in live account
  • #2,179
  • Jan 6, 2018 2:41am Jan 6, 2018 2:41am
Quoting 9jatrader
It's using 86 pips to trap 287 pips for now
Good job!!!
  • #2,180
  • Jan 6, 2018 2:44am Jan 6, 2018 2:44am
Quoting nightfox84
{quote} Good job!!!
Thanks
Make all mistakes in demo and rain in pips in live account
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