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Simple Daily Trend Reversal Trading System

  • #2,481
  • Jan 22, 2018 4:02pm Jan 22, 2018 4:02pm
Quoting Erebus
Possible trade setup, let's discuss 1 : Green Zig Zag Arrow - Yes 2 : MBFX Timing was oversold, now going up - Yes 3 : Trend Line is Green - Yes Price closed above 15 SMA - Yes Using Fib tool to display entry, stop loss and profit targets, by using 2 times the ATR(50) of 4 Hour candles, see Yellow arrow I placed the stop 10 pips below the low, and to maintain the 60 pips stop loss requirement, entry has to be at 89.00, do you follow? Therefore we can see 1 to 1 risk / reward is at first resistance point (fractals) and 2 to 2 risk / reward target...
Lack of price action, news nearby.
I would not take it.
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I can calculate the movement of stars, but not the madness of men. Isaac N.
  • #2,482
  • Jan 22, 2018 10:00pm Jan 22, 2018 10:00pm
AUD getting weak, might be the start of some swing trades vs. CAD, CHF, USD

It takes a lot for me to IGNORE you, but you can try.
  • #2,483
  • Jan 22, 2018 10:30pm Jan 22, 2018 10:30pm
Currently this month is -58pips. Let's see how this week the market will do
  • #2,484
  • Jan 22, 2018 10:38pm Jan 22, 2018 10:38pm
Quoting Erebus
AUD getting weak, might be the start of some swing trades vs. CAD, CHF, USD
i was holding trades for 2 months,finally a descend.
  • #2,485
  • Jan 22, 2018 11:52pm Jan 22, 2018 11:52pm
Quote
Lack of price action
Yeah forex seems very very quiet the last couple of months. Not much volatility going on, and not many good trade setups happening
Perhaps many forex traders have switched to the crypto markets ?
The volatility (and possible profits) is much greater there.
I myself do most of my trading on the crypto markets these days
Hell.. i'm even busy writing my first crypto-bot / ea ;-)
  • #2,486
  • Jan 23, 2018 12:10am Jan 23, 2018 12:10am
anyone know why all signals agrees on AUDJPY, but no sell signal??

Thanks


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  • #2,487
  • Jan 23, 2018 12:32am Jan 23, 2018 12:32am
Quoting ebeckers
{quote} Yeah forex seems very very quiet the last couple of months. Not much volatility going on, and not many good trade setups happening Perhaps many forex traders have switched to the crypto markets ? The volatility (and possible profits) is much greater there. I myself do most of my trading on the crypto markets these days Hell.. i'm even busy writing my first crypto-bot / ea ;-)
Was thinking the same and looked at some crypto charts.
Could not find anything that made sense to me at least from a technical view.
So gave up the idea and didn't even start.
I can calculate the movement of stars, but not the madness of men. Isaac N.
  • #2,488
  • Jan 23, 2018 12:36am Jan 23, 2018 12:36am
Quoting T4Trade
{quote} i was holding trades for 2 months,finally a descend.
you must trade like a vulture

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It takes a lot for me to IGNORE you, but you can try.
  • #2,489
  • Jan 23, 2018 12:42am Jan 23, 2018 12:42am
Quoting hzs10
Currently this month is -58pips. Let's see how this week the market will do
Are you trading just strictly by the signals and entries?

Looking at all the mainly 28 pairs, I wonder if there is a skilled coder could make an EA to trade the price action as a basket?

I mean, something like, when there is Arrow, MBFX is going up / down the same and price moved beyond the 15 SMA also

With a few position, a percentage take profit could be achieved, like the CCFp thread.

For instance, I just took a EURAUD long, it's not quite to the rules but it is breaking out along with Arrow, MBFZ and above the 15 SMA

If it keeps going at Frankfurt open and London, I will hit it harder
It takes a lot for me to IGNORE you, but you can try.
  • #2,490
  • Jan 23, 2018 2:16am Jan 23, 2018 2:16am
Quoting FxMadness
{quote} Was thinking the same and looked at some crypto charts. Could not find anything that made sense to me at least from a technical view. So gave up the idea and didn't even start.
You're right ... but already this EA does not go wrong on crypto.
"Rule No.1: Never lose money. Rule No.2: Never forget rule No.1."... But ..
  • #2,491
  • Jan 23, 2018 2:54am Jan 23, 2018 2:54am
Quoting Erebus
{quote} Are you trading just strictly by the signals and entries? Looking at all the mainly 28 pairs, I wonder if there is a skilled coder could make an EA to trade the price action as a basket? I mean, something like, when there is Arrow, MBFX is going up / down the same and price moved beyond the 15 SMA also With a few position, a percentage take profit could be achieved, like the CCFp thread. For instance, I just took a EURAUD long, it's not quite to the rules but it is breaking out along with Arrow, MBFZ and above the 15 SMA If it keeps going...
yup, but i engaged manually. So if I am sleeping or not in front of the screen I do not engage
  • #2,492
  • Jan 23, 2018 3:07am Jan 23, 2018 3:07am
Quoting FxMadness
{quote} The EA will only show pairs that have a zigzag arrow within the zigzagcandles range.
Thank you! good to know i've not broken it!
  • #2,493
  • Jan 23, 2018 5:28am Jan 23, 2018 5:28am
Nice setups coming up on pretty much all GBP pairs and EA triggered trades for AUDJPY and AUDCAD. I got signal on AUDJPY last night ET. Traded that sucker and pocketed 60 pips. Just enabled live trading on this EA and it started a new trade on AUDJPY and AUDCAD. I am sure it will trigger new trades on bunch of GBP pairs shortly. Thanks to the founding fathers of this signal and EA. I'll keep posting results. I just joined today but have been toying with fx a long time
  • #2,494
  • Jan 23, 2018 6:09am Jan 23, 2018 6:09am
Opened AUDCAD and AUDJPY sell on live as well. Both look like good entries and pairs to sell.
Truth is like poetry. And most people f*cking hate poetry.
  • #2,495
  • Jan 23, 2018 6:13am Jan 23, 2018 6:13am
Quoting ebeckers
{quote} Yeah forex seems very very quiet the last couple of months. Not much volatility going on, and not many good trade setups happening Perhaps many forex traders have switched to the crypto markets ? The volatility (and possible profits) is much greater there. I myself do most of my trading on the crypto markets these days Hell.. i'm even busy writing my first crypto-bot / ea ;-)
I don't get technical analysis on cryptos as they don't follow any kind of technicals. Most cryptos are less than a few years old and don't have any significant history to do technical analysis. Cryptos are also very fundamentally and speculator driven so trying to do any kind of technical analysis goes out the window. I could be wrong, but that my opinion.

I'm keen to try trading cryptos as more brokers start listing them on MT4, but its also very expensive to trade cryptos, on my broker even more than trading indices.
Truth is like poetry. And most people f*cking hate poetry.
  • #2,496
  • Jan 23, 2018 6:23am Jan 23, 2018 6:23am
Quoting mrdfx
{quote} I don't get technical analysis on cryptos as they don't follow any kind of technicals. Most cryptos are less than a few years old and don't have any significant history to do technical analysis. Cryptos are also very fundamentally and speculator driven so trying to do any kind of technical analysis goes out the window. I could be wrong, but that my opinion. I'm keen to try trading cryptos as more brokers start listing them on MT4, but its also very expensive to trade cryptos, on my broker even more than trading indices.
yeah trading crypto's is done mostly on exchanges like bittrex, binance, coinigy, cryptopedia and not on MT4
But these platforms aint that bad. What is a pitty is that you need to buy/sell the coins and cannot speculate on price changes using leverage like in forex. Perhaps it will change in the future, but even if it doesnt.. crypto's is the place to be atm.
The volatility is huge and its not very hard to make 2%-5% per day for the experienced traders..
I'm even considering porting the EA to binance and let it work on crypto's :-)
  • #2,497
  • Jan 23, 2018 6:39am Jan 23, 2018 6:39am
mrdfx.
How about Gold and silver. Have tried them on this strategy.
  • #2,498
  • Jan 23, 2018 6:50am Jan 23, 2018 6:50am
Quoting ebeckers
{quote} yeah trading crypto's is done mostly on exchanges like bittrex, binance, coinigy, cryptopedia and not on MT4 But these platforms aint that bad. What is a pitty is that you need to buy/sell the coins and cannot speculate on price changes using leverage like in forex. Perhaps it will change in the future, but even if it doesnt.. crypto's is the place to be atm. The volatility is huge and its not very hard to make 2%-5% per day for the experienced traders.. I'm even considering porting the EA to binance and let it work on crypto's :-)
Yeah I have a binance account but I only have it to buy some cryptos and hodl, not to trade. How would you link an EA to binance?
Truth is like poetry. And most people f*cking hate poetry.
  • #2,499
  • Jan 23, 2018 6:56am Jan 23, 2018 6:56am
Quoting Monty13
mrdfx. How about Gold and silver. Have tried them on this strategy.
I have not tested with metals, or commodities and indices, I am only trading with the 28 main pairs.

I would think it should work the same, just manage your risk if you do.
Truth is like poetry. And most people f*cking hate poetry.
  • #2,500
  • Jan 23, 2018 7:04am Jan 23, 2018 7:04am
Quoting mrdfx
{quote} I have not tested with metals, or commodities and indices, I am only trading with the 28 main pairs. I would think it should work the same, just manage your risk if you do.
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