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SAFE - KISS

  • #101
  • Jan 30, 2018 2:08am Jan 30, 2018 2:08am
Quoting Ralffe
Gone short on Gold.. Price has proceeded below previous candle which had Red line crossing through it. We now wait until the 1st pull-back to draw a new line. Green lines show where previous trades entered. {image}
Why isn't the red line following the last lower high, a week back? For what I can see, you would get an entry with a much steeper line?
  • #102
  • Jan 30, 2018 2:12am Jan 30, 2018 2:12am
Go5 just how many posts of Ralffes' thread have you READ ....... Did you perhaps see ANYTHING ABOUT THE ANGLE BEING TOO SHARP ... go read it all again ... sheez
RE WATCH THE VIDEO
  • #103
  • Jan 30, 2018 2:40am Jan 30, 2018 2:40am
Quoting starpro
Go5 just how many posts of Ralffes' thread have you READ ....... Did you perhaps see ANYTHING ABOUT THE ANGLE BEING TOO SHARP ... go read it all again ... sheez RE WATCH THE VIDEO
Why don"t you start actually reading my post...
  • #104
  • Jan 30, 2018 3:40am Jan 30, 2018 3:40am
Quoting Go5
{quote} Why isn't the red line following the last lower high, a week back? For what I can see, you would get an entry with a much steeper line?
You could. But would that be a wise decision. Only time will tell.
Conventional trading is for losers
  • #105
  • Jan 30, 2018 4:13am Jan 30, 2018 4:13am
Good video - subscribed.
  • #106
  • Edited 6:15am Jan 30, 2018 5:22am | Edited 6:15am
Quoting Ralffe
{quote} You could. But would that be a wise decision. Only time will tell.
Let's see if I can reformulate my post: The gold line in the chart below is what I would expect to be a good one. The red line seems too steep and gives way for your entry. The red line in your post does not follow the last lower high -higher low but goes under the low of the 5th candle before your entry - why?

Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSDDaily.png Size: 48 KB
  • #107
  • Jan 30, 2018 6:17am Jan 30, 2018 6:17am
Hi, Ralffe.
Interesting strategy. Thanks for video)
I tried to draw lines on EURUSD chart & put possible long entry.
With arrows I marked SL moving.
Am I correct?
Attached Image (click to enlarge)
Click to Enlarge Name: EU.jpg Size: 276 KB
  • #108
  • Jan 30, 2018 7:39am Jan 30, 2018 7:39am
Just woke up. Waiting for the market to tell me which way she will go.

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“The waiting is the hardest part” Tom Petty
  • #109
  • Jan 30, 2018 10:03am Jan 30, 2018 10:03am
Just keep moving trend line down after each new lower high, and locking in profit with each new stop loss. Thank you again Ralffe! .

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“The waiting is the hardest part” Tom Petty
  • #110
  • Jan 30, 2018 11:26am Jan 30, 2018 11:26am
Quoting Go5
{quote} Let's see if I can reformulate my post: The gold line in the chart below is what I would expect to be a good one. The red line seems too steep and gives way for your entry. The red line in your post does not follow the last lower high -higher low but goes under the low of the 5th candle before your entry - why? {image}
Have same question here...cant see why you entered if there is no break on the TL yet.
Attached Image (click to enlarge)
Click to Enlarge Name: 699fe503ccb3c1665edf16f38aa2dd52.png Size: 59 KB
  • #111
  • Jan 30, 2018 3:00pm Jan 30, 2018 3:00pm
Quoting Flyangler
{quote} Have same question here...cant see why you entered if there is no break on the TL yet. {image}
Ralffe's chart is slightly different to yours, so I think his entry shown in Post # 94 is exactly according to his rule.
  • #112
  • Jan 30, 2018 3:29pm Jan 30, 2018 3:29pm
Quoting Flyangler
{quote} Have same question here...cant see why you entered if there is no break on the TL yet. {image}
If you look at the H1, when he entered, price had tested the line and dropped, it has now gone above and dropped below again.
Wow! I've got some experience to gain.
  • #113
  • Jan 30, 2018 6:53pm Jan 30, 2018 6:53pm
I see some good discussions & comments going on here. Nice to see most are getting the hang of the system.
I don't spend a lot of time in front of the screen hence the development of a trend trading system. I will try to answer questions generally not individually.

I will try to solve the mystery of my Gold entry.

You will note that I entered The trade after price dropped below the candle with the line through it. Yes price did go back up through the line AFTER I took the trade & I suffered an 80 pip DD but the trade was there to take.

The line was move to that position because I could see price had dropped below the previous higher high wave top then gone back up creating a topping wave.
You have to look close to see what I mean. Also my trend line was not steep so the chance of a false break- out was minimized.
You could say I jumped the gun a little.
So I remind you.

Avoid steep lines.

Discipline & Patience. Without which you will fail. Bend the rules at your peril.

The market must be committed to the move. Before you commit to the trade

50 pip DDs are not uncommon & have been known to blow out to 200 pips on rare occasions.
Therefore, SL 20 pips above / below last high / low. SL becomes TP.
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSDDaily.png Size: 26 KB
Conventional trading is for losers
  • #114
  • Jan 30, 2018 7:03pm Jan 30, 2018 7:03pm
Quoting antisystem
Hi, Ralffe. Interesting strategy. Thanks for video) I tried to draw lines on EURUSD chart & put possible long entry. With arrows I marked SL moving. Am I correct? {image}
Very good. You can now move your 3rd line up or draw a 4th if you prefer.
Conventional trading is for losers
  • #115
  • Jan 31, 2018 1:25am Jan 31, 2018 1:25am
Quoting Ralffe
Therefore, SL 20 pips above / below last high / low. SL becomes TP. {image}
To double check, you mean 1:1 RR, so if 300 pip stop, then 300 pip target ?
  • #116
  • Jan 31, 2018 1:51am Jan 31, 2018 1:51am
Quoting jtrade
{quote} To double check, you mean 1:1 RR, so if 300 pip stop, then 300 pip target ?
I think he meant, if your going to have a 20 pip S/L on a daily chart it's going to get hit frequently. You may as well think of it as a trailing T/P to prevent a draw down.
Good Trading
  • #117
  • Jan 31, 2018 2:44am Jan 31, 2018 2:44am
Who said anything about a 20 pip SL
Please read what I say carefully.

SL is set at 1st entry 20 pips above / below last high / low.

As the line is moved SL is reset 20 pips above / below last high / low.

Is this not simple & plain enough.?
Conventional trading is for losers
  • #118
  • Jan 31, 2018 3:00am Jan 31, 2018 3:00am
Quoting Ralffe
Who said anything about a 20 pip SL Please read what I say carefully. SL is set at 1st entry 20 pips above / below last high / low. As the line is moved SL is reset 20 pips above / below last high / low. Is this not simple & plain enough.?
Is this not simple & plain enough
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDDaily.png Size: 35 KB
Conventional trading is for losers
  • #119
  • Jan 31, 2018 4:09am Jan 31, 2018 4:09am
Yep.
Good Trading
  • #120
  • Jan 31, 2018 4:21am Jan 31, 2018 4:21am
Quoting Ralffe
{quote} Very good. You can now move your 3rd line up or draw a 4th if you prefer.
Got it) will practice now with micro accaunt
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