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SAFE - KISS

  • #121
  • Jan 31, 2018 5:05am Jan 31, 2018 5:05am
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}
Ralffe, may i ask for more clarification. In your trendline you only adjust to draw the TL to the last low when there is a wave right? My question is why did you draw on that candle (2nd arrow on my chart) where there was no wave there? Isnt it should be on the 1st arrow since that is the last wave and as you can see on my pic the aqua TL did not break yet and so no entry yet. Thanks!
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  • #122
  • Jan 31, 2018 5:32am Jan 31, 2018 5:32am
Quoting mario777
{quote} Ralffe, may i ask for more clarification. In your trendline you only adjust to draw the TL to the last low when there is a wave right? My question is why did you draw on that candle (2nd arrow on my chart) where there was no wave there? Isnt it should be on the 1st arrow since that is the last wave and as you can see on my pic the aqua TL did not break yet and so no entry yet. Thanks! {image}
As far as I can deduct from Ralffe's answer there was a "wave" but you can only see it clearly on the H4...
  • #123
  • Jan 31, 2018 5:46am Jan 31, 2018 5:46am
Quoting Go5
{quote} As far as I can deduct from Ralffe's answer there was a "wave" but you can only see it clearly on the H4...
you are right but we are talking about daily TF here. And besides, the HL at 4H chart cant be confirmed as HL until the HH can be broken hence you cant draw your TL there.
  • #124
  • Jan 31, 2018 5:52am Jan 31, 2018 5:52am
Quoting mario777
{quote} you are right but we are talking about daily TF here. And besides, the HL at 4H chart cant be confirmed as HL until the HH can be broken hence you cant draw your TL there.
Well, Ralffe has his own rules and we're not talking trendlines as such, are we?
  • #125
  • Jan 31, 2018 6:20am Jan 31, 2018 6:20am
Quoting Go5
{quote} Well, Ralffe has his own rules and we're not talking trendlines as such, are we?
thats why im asking him for clarification. If we can can draw TL anywhere we like then there is no rule.
  • #126
  • Edited 8:16am Jan 31, 2018 7:39am | Edited 8:16am
Hi all. I don't know why some are having problems with the rules. They are very simple and clear. The only subjective part of the rules are right at the beginning of drawing a new trend line, as to where you start the hinged point. You don't want too steep of an angle initially, as the idea is that the angle of the trend line gradually increases and becomes steeper as the waves of the trend become steeper until the trend exhaustion. Once you pick your hinged starting point at the left it never changes. The end point on the right you move to touch each new higher, lowest low point, on an uptrend, and each new lower, highest high point on a down trend. On the daily time frame your stop is placed aprox 20 pips below each new higher, lowest low point (uptrend), or each new lower, highest high point (downtrend) There is no take profit set. The idea is to ride the trend as long as it lasts, until your last stop loss you've been moving is taken out. That will be your take profit. Try it on a 1 minute chart on a pair that's trending, and you will quickly understand how it works. For 1 minute chart try a 3 pip stop under each new lower low or higher higher after you move your trend line end point.
Hope that helps.
“The waiting is the hardest part” Tom Petty
  • #127
  • Edited 10:45am Jan 31, 2018 10:33am | Edited 10:45am
Hello guys and thanks to Ralffe for shared this. I' ve been an "observer" of this forum for about 3 months, i'm a newbie also in trading and i never traded live account before. I'd like to know if i understood it correctly:

The magenta lines are just the white trendline of the past...
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  • #128
  • Jan 31, 2018 3:07pm Jan 31, 2018 3:07pm
When I was learning to draw trendlines, the number 1 rule was not to draw your lines too steep. Anything over a 45 degree angle is too steep and price can just walk right through it where as a angle closer to 30 degrees, price has to actually break the line since it's a trend line break. I like the idea of moving the hinge to a less steep starting point. Almost reminds me of how you draw an Andrews pitchfork.
  • #129
  • Jan 31, 2018 4:01pm Jan 31, 2018 4:01pm
I have to understand better the exact point of entry, i can't understand what Ralffe means for "entry when price crosses with no touch". Maybe you mean when the shadow, the retracement or what else, touch the line? Thank you and sorry but english is not my mother language
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  • #130
  • Edited 4:48pm Jan 31, 2018 4:15pm | Edited 4:48pm
I just wanted to say thanks Ralffe for such an elegantly simple, and visual method for setting entry and exit trigger points. The 'hinged line' is the sort of thing that makes me wish I had invented it but I'm not quite that clever.

A couple of simple questions.
What thickness of line are you using on D1? Is it the default 1 pixel or it looks more like 2?

How did you remove the lower timeframe buttons on your MT4 terminal?

Oh, and one silly question. As long as price doesn't actually break clear of the line, and price continues to make new higher or lower swings (waves) couldn't price theoretically push your line up or down until you hit your stop? I know that's unlikely. A more serious question would be in that case, would you ever consider moving your stop to break-even or better to 'lock-in' profit? I know I would but curious what you think.
  • #131
  • Jan 31, 2018 4:47pm Jan 31, 2018 4:47pm
Quoting MrGreen95
I have to understand better the exact point of entry, i can't understand what Ralffe means for "entry when price crosses with no touch". Maybe you mean when the shadow, the retracement or what else, touch the line? Thank you and sorry but english is not my mother language {image} {image}
I am sure Ralffe will correct me if I"m wrong but it's the Magenta line. The first bar that has no part touching your white line. Actually it should be between Magenta and red on your diagram since it will be the opening price after the bar that has closed without touching the line.
  • #132
  • Jan 31, 2018 6:20pm Jan 31, 2018 6:20pm
Quoting SirViver
Hi all. I don't know why some are having problems with the rules. They are very simple and clear. The only subjective part of the rules are right at the beginning of drawing a new trend line, as to where you start the hinged point. You don't want too steep of an angle initially, as the idea is that the angle of the trend line gradually increases and becomes steeper as the waves of the trend become steeper until the trend exhaustion. Once you pick your hinged starting point at the left it never changes. The end point on the right you move to touch...
Excellent interpretation Mate.
Those having problems should revisit the video on page 1. Stop & rewind the video when something doesn't gel.
Conventional trading is for losers
  • #133
  • Jan 31, 2018 6:30pm Jan 31, 2018 6:30pm
Quoting MrGreen95
I have to understand better the exact point of entry, i can't understand what Ralffe means for "entry when price crosses with no touch". Maybe you mean when the shadow, the retracement or what else, touch the line? Thank you and sorry but english is not my mother language {image} {image}
You are drawing the lines from the wrong direction.
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Conventional trading is for losers
  • #134
  • Jan 31, 2018 6:35pm Jan 31, 2018 6:35pm
Quoting clemmo17
I just wanted to say thanks Ralffe for such an elegantly simple, and visual method for setting entry and exit trigger points. The 'hinged line' is the sort of thing that makes me wish I had invented it but I'm not quite that clever. A couple of simple questions. What thickness of line are you using on D1? Is it the default 1 pixel or it looks more like 2? How did you remove the lower timeframe buttons on your MT4 terminal? Oh, and one silly question. As long as price doesn't actually break clear of the line, and price continues to...
thickness of line..2
How did you remove the lower timeframe buttons on your MT4 terminal. right click on times panel I had circled. click custom. Remove what you don't want.
would you ever consider moving your stop to break-even or better to 'lock-in' profit? Yes Especially as now when a direction change is due or suspected.
Conventional trading is for losers
  • #135
  • Jan 31, 2018 6:44pm Jan 31, 2018 6:44pm
Quoting FXChaser
When I was learning to draw trendlines, the number 1 rule was not to draw your lines too steep. Anything over a 45 degree angle is too steep and price can just walk right through it where as a angle closer to 30 degrees, price has to actually break the line since it's a trend line break. I like the idea of moving the hinge to a less steep starting point. Almost reminds me of how you draw an Andrews pitchfork.
Yes too steep can lead to false break-outs & premature entries.

Don't be afraid to move the hinge left if the line gets too steep.
Price action over the last few days is a prime example of this. Who knows. Price may continue North leaving you in shitters ditch with leaky gumboots. The last few days also emphasizes why entering on smaller time frames is not a good idea.
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Conventional trading is for losers
  • #136
  • Jan 31, 2018 7:00pm Jan 31, 2018 7:00pm
Quoting Ralffe
{quote} thickness of line..2 How did you remove the lower timeframe buttons on your MT4 terminal. right click on times panel I had circled. click custom. Remove what you don't want. would you ever consider moving your stop to break-even or better to 'lock-in' profit? Yes Especially as now when a direction change is due or suspected.
My bet is that the US dollar will move up this month, then Trump or one of his cronies will bleat about other countries having an unfair advantage & down the USdollar comes again to finish off the current down trend. So if currencies change direction over the next few days it may be short lived. Maybe just a 50% retrace.??????
Conventional trading is for losers
  • #137
  • Feb 1, 2018 2:29am Feb 1, 2018 2:29am
Quoting Ralffe
{quote} You are drawing the lines from the wrong direction. {image}
Because the turquoise/daily trendline was too steep, right?
  • #138
  • Feb 1, 2018 2:37am Feb 1, 2018 2:37am
Quoting clemmo17
{quote} I am sure Ralffe will correct me if I"m wrong but it's the Magenta line. The first bar that has no part touching your white line. Actually it should be between Magenta and red on your diagram since it will be the opening price after the bar that has closed without touching the line.
Thank you very much guys. Here it is another example/question. Be patient please, i don't have neither 100 hours on charts
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  • #139
  • Feb 1, 2018 4:29am Feb 1, 2018 4:29am
Quoting MrGreen95
{quote} Thank you very much guys. Here it is another example/question. Be patient please, i don't have neither 100 hours on charts {image}
The red line is correct & the entry is the next candle after the one you point to. Safety is paramount.
Conventional trading is for losers
  • #140
  • Feb 1, 2018 4:35am Feb 1, 2018 4:35am
Quoting MrGreen95
{quote} Because the turquoise/daily trendline was too steep, right?
Yes it was too steep. However it was the white line I was refering to. It should have been drawn fro to left to bottom right
To answer your 1st question the entry was at the red candle below the short magenta line
Conventional trading is for losers
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