Trading is as simple as 1-2-3 | Page 298 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

SIMPLE EA for a simple method needed!! 2 replies

Trading Made Simple the right way, and other trading lessons 334 replies

Trading is this Simple? Finally Explained simple and clearly! 46 replies

trading is simple - trading is easy 43 replies

Simple trading method 49 replies

Attachments: Trading is as simple as 1-2-3
Exit Attachments

Trading is as simple as 1-2-3

  • #5,941
  • Edited 5:08am Mar 5, 2018 4:02am | Edited 5:08am
NZ long now +10 switched to 10 trailer. ...... now +20
  • #5,942
  • Mar 5, 2018 5:33am Mar 5, 2018 5:33am
Attached Image (click to enlarge)
Click to Enlarge Name: 3518gj2.png Size: 21 KB

Short GJ +5 locked. All 9 signals on this pair got +5 today.
  • #5,943
  • Mar 5, 2018 6:07am Mar 5, 2018 6:07am
Quoting lemercenaire
{quote} Pippy and I looked at the shape of the bars to see if there was any difference in how a trade went depending on how high priced travelled after the open and where the subsequent close occurred.
Interesting study Lem.

Did you do any study on the closing price of a new high/low bar compared to the open price of the new bar (zero bar)? So were there more successful trades when the open price of the zero bar was equal to/higher/lower than the close of the new high/low bar?
  • #5,944
  • Mar 5, 2018 6:53am Mar 5, 2018 6:53am
Quoting kaza007
{quote} Interesting study Lem. Did you do any study on the closing price of a new high/low bar compared to the open price of the new bar (zero bar)? So were there more successful trades when the open price of the zero bar was equal to/higher/lower than the close of the new high/low bar?
As I said above, for the purposes of that post, I kept the options simple but in the actual study we covered as many permutations as we could and saw no bias one way or the other, no matter what type of bar formation.
  • #5,945
  • Mar 5, 2018 1:11pm Mar 5, 2018 1:11pm
Attached Image (click to enlarge)
Click to Enlarge Name: TOOSLOW1.png Size: 56 KB
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,946
  • Edited 4:51am Mar 6, 2018 3:24am | Edited 4:51am
Attached Image (click to enlarge)
Click to Enlarge Name: 3618gj.png Size: 17 KB

GJ long +5 locked +13, 10 trailer on
  • #5,947
  • Mar 6, 2018 5:06am Mar 6, 2018 5:06am
Attached Image (click to enlarge)
Click to Enlarge Name: 3618ej.png Size: 17 KB

Long EJ +5 locked
  • #5,948
  • Mar 6, 2018 5:13am Mar 6, 2018 5:13am
Attached Image (click to enlarge)
Click to Enlarge Name: 3618jy.png Size: 18 KB

Long JY +5 locked
  • #5,949
  • Mar 6, 2018 5:24am Mar 6, 2018 5:24am
Attached Image (click to enlarge)
Click to Enlarge Name: 3618au.png Size: 18 KB

Long AU +5 locked
  • #5,950
  • Edited 9:10am Mar 6, 2018 8:33am | Edited 9:10am
Thank you very much for this thread, haven't traded forex in a while and this inspired me to give it another go. I've read through the first 20 pages so far and just testing a few entries with small size, would like to check whether I understood correctly.

I identified 4 pairs for this hour based on them making new highs/lows in the last hour:
- GPB/USD
- AUD/USD
- USD/CAD
- USD/CHF

Found sufficient reversals on GBP/USD and USD/CAD to enter into trades.
AUD/USD did not really test the high, and USD/CHF closed very close to the bottom and just took off to the top.

Will appreciate any comments/thoughts.

EDIT RESULT:
GBP/USD moved 9 pips below open before moving up and trade was closed with loss of 1 pip
USD/CAD moved 15 pips above open before moving down and triggered my stop with loss of 8 pips

Didn't manage the USD/CAD trade very well :-)
Attached Image (click to enlarge)
Click to Enlarge Name: Forex 06Mar18.JPG Size: 178 KB
  • #5,951
  • Mar 6, 2018 9:33am Mar 6, 2018 9:33am
Quoting pasopvirpot
Thank you very much for this thread, haven't traded forex in a while and this inspired me to give it another go. I've read through the first 20 pages so far and just testing a few entries with small size, would like to check whether I understood correctly. I identified 4 pairs for this hour based on them making new highs/lows in the last hour: - GPB/USD - AUD/USD - USD/CAD - USD/CHF Found sufficient reversals on GBP/USD and USD/CAD to enter into trades. AUD/USD did not really test the high, and USD/CHF closed very close to the bottom and just took...
Welcome aboard, pasopvirpot.

The first thing I'd say - and it's from a practical point of view - is that you are running four USD pairs. They're either all going to work or all going to fail.

I haven't the time to check the individual set-ups at the moment but I will try and get back to you on that later (or someone else can chime in).
  • #5,952
  • Mar 6, 2018 10:50am Mar 6, 2018 10:50am
Attached Image (click to enlarge)
Click to Enlarge Name: TOOSLOW1.png Size: 57 KB
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,953
  • Edited 1:05pm Mar 6, 2018 11:23am | Edited 1:05pm
Please excuse the silly question, but at what time do you reset your daily highs and lows, open of new york session?

EDIT: I have found the answer in the HOLO thread thanks
  • #5,954
  • Mar 6, 2018 12:47pm Mar 6, 2018 12:47pm
Quoting lemercenaire
{quote} Welcome aboard, pasopvirpot. The first thing I'd say - and it's from a practical point of view - is that you are running four USD pairs. They're either all going to work or all going to fail. I haven't the time to check the individual set-ups at the moment but I will try and get back to you on that later (or someone else can chime in).
This would be a good time for the thread creator TS to chime in and help someone out.
  • #5,955
  • Mar 6, 2018 1:24pm Mar 6, 2018 1:24pm
Quoting pasopvirpot
Thank you very much for this thread, haven't traded forex in a while and this inspired me to give it another go. I've read through the first 20 pages so far and just testing a few entries with small size, would like to check whether I understood correctly. I identified 4 pairs for this hour based on them making new highs/lows in the last hour: - GPB/USD - AUD/USD - USD/CAD - USD/CHF Found sufficient reversals on GBP/USD and USD/CAD to enter into trades. AUD/USD did not really test the high, and USD/CHF closed very close to the bottom and just took...
Cable looks straight forward, with the possibility of a re-entry as well...
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1lookedstraightforward-withpossiblereentry6thMar18.png Size: 27 KB


AU would probably have been a little more work. If you had gone in on the early bar, then probably stopped. Then a re-entry. You would also have a second vanilla trade on the bar after that.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDH1abitmoreworkbutOK6thMar18.png Size: 26 KB


UC is AU in reverse. Earlybirds would of course be planning a trip to The Bahamas on the back of the am drop, lol.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADH1asAUinreverse-andthebiggiefromtheAM6thMar18.png Size: 28 KB


UChf
This is a mirror of GU and as such could have played nicely. You may have had to cut things short of you had gone in on early bars but if you'd held your nerve, you'd have bagged the eventual bigger move.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCHFH1nicetopandtailerwithalittlebitofjuggling6thMar18.png Size: 30 KB
  • #5,956
  • Mar 6, 2018 1:26pm Mar 6, 2018 1:26pm
Quoting lemercenaire
{quote} Cable looks straight forward, with the possibility of a re-entry as well... {image} AU would probably have been a little more work. If you had gone in on the early bar, then probably stopped. Then a re-entry. You would also have a second vanilla trade on the bar after that. {image} UC is AU in reverse. Earlybirds would of course be planning a trip to The Bahamas on the back of the am drop, lol. {image} UChf This is a mirror of GU and as such could have played nicely. You may have had to cut things short of you had gone in on early bars but...
Do you also see what I meant about basically running multiple USD trades?
  • #5,957
  • Mar 6, 2018 1:58pm Mar 6, 2018 1:58pm
Thanks so much for your kind assistance lemercenaire, much appreciated!

On the UChf, I didn't interpret it as really testing the low again, as the previous hour closed near the low, it just went straight up from the open, or am I missing something?
  • #5,958
  • Mar 6, 2018 2:40pm Mar 6, 2018 2:40pm
Quoting pasopvirpot
Thanks so much for your kind assistance lemercenaire, much appreciated! On the UChf, I didn't interpret it as really testing the low again, as the previous hour closed near the low, it just went straight up from the open, or am I missing something?
No, you read it correctly. It happens. Sometimes you can get in on a retrace, sometimes not. You could still have bagged something on the previous two opportunities.
  • #5,959
  • Edited 3:46am Mar 7, 2018 3:12am | Edited 3:46am
Attached Image (click to enlarge)
Click to Enlarge Name: 3718gu.png Size: 18 KB

Long GU +5 locked And in the nick of time.
  • #5,960
  • Mar 7, 2018 3:14am Mar 7, 2018 3:14am
Watch out for red UC news today folks. Oil Inventories included.
2 traders viewing now