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SAFE - KISS

  • #861
  • Mar 23, 2018 1:40am Mar 23, 2018 1:40am
Quoting antisystem
{quote} Can you explain 5 wave? I don't understand what do you mean :/
You need to understand the "Basics" of Elliot waves to be able to read a chart successfully. All wave sequences are in 5 or 3 waves on any time frame.
Conventional trading is for losers
  • #862
  • Mar 23, 2018 1:43am Mar 23, 2018 1:43am
Quoting starpro
What I was querying Ralffe was the anchoring of the rising line from a high rather than a low ...?
It doesn't matter where you anchor the hinge. So long as the line doesn't start or become too steep.
Conventional trading is for losers
  • #863
  • Mar 23, 2018 1:56am Mar 23, 2018 1:56am
Quoting Ralffe
{quote} You need to understand the "Basics" of Elliot waves to be able to read a chart successfully. All wave sequences are in 5 or 3 waves on any time frame.
Ok. I'll do my homework)
  • #864
  • Mar 23, 2018 4:05am Mar 23, 2018 4:05am
Have been following this thread in the shadows right from start and it is very solid.
Everybody should take the teaching of Ralffe and apply it in a way that is best for their own style, method, tolerances etc...When I see people looking for 90% success, that is silly. 50/50 or 60/40 is good as long as your wins can run and your losses are SL at the correct place.
For me, i have been testing on H4 and I am very happy with results. (Daily is good but I want more "action" especially when testing and below H4 I find that it is too subjective, risky, open to spikes etc..)
The last month markets have been very up/down so longer trends are hard to find and many stop outs can happen.
I have found that to take a trade for more chance of success it can be good to wait for a H4 & Daily trendlines to both move in the same direction. For example UJ attachment
DO you think this is a good approach Ralffe?
Thanks for offering your method to all of us.
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYH4.png Size: 43 KB
It takes time
  • #865
  • Mar 23, 2018 4:20am Mar 23, 2018 4:20am
Quoting galactico
Have been following this thread in the shadows right from start and it is very solid. Everybody should take the teaching of Ralffe and apply it in a way that is best for their own style, method, tolerances etc...When I see people looking for 90% success, that is silly. 50/50 or 60/40 is good as long as your wins can run and your losses are SL at the correct place. For me, i have been testing on H4 and I am very happy with results. (Daily is good but I want more "action" especially when testing and below H4 I find that it is too subjective, risky,...
The method presented here "as-is" doesn't work!
90%, 50%, 40%.. success is a just a dream. I've been demo-ing this and regardless how sound the entries are (according to the rules) one simply cannot take every TL break.
I think this can be used just as an entry method on a longer time frame pull back.
Basically, one needs to determine the trend and the pull back on a higher time frame (I find this step the be crucial, more important even than the entry alone) then draw the pullback trend line on the current time frame and look for TL break in the direction of the longer time frame.
This aspect of the trading system hasn't been discussed.. yet!
Val
  • #866
  • Mar 23, 2018 5:00am Mar 23, 2018 5:00am
Quoting galactico
Have been following this thread in the shadows right from start and it is very solid. Everybody should take the teaching of Ralffe and apply it in a way that is best for their own style, method, tolerances etc...When I see people looking for 90% success, that is silly. 50/50 or 60/40 is good as long as your wins can run and your losses are SL at the correct place. For me, i have been testing on H4 and I am very happy with results. (Daily is good but I want more "action" especially when testing and below H4 I find that it is too subjective, risky,...
Yes good approach. Glad you are having success with the system.
Some are having problems, mostly through lack of patience & taking short-cuts. Some simply because they are newbies & do not yet understand chart patterns etc. Others expect to get rich overnight. Most having problems need to revisit the videos & absorb their content.
Conventional trading is for losers
  • #867
  • Mar 23, 2018 5:03am Mar 23, 2018 5:03am
Here is one of my cherry picked trades. Went against me as soon as I got in. I should have been in earlier, one wave above but I only saw it when I saw it. I still cant let go of some of my indicators though. But it was a nice 30 pip winner on the M1
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM1.png Size: 39 KB
  • #868
  • Mar 23, 2018 5:13am Mar 23, 2018 5:13am
Quoting fxmarvel
{quote} The method presented here "as-is" doesn't work! 90%, 50%, 40%.. success is a just a dream. I've been demo-ing this and regardless how sound the entries are (according to the rules) one simply cannot take every TL break. I think this can be used just as an entry method on a longer time frame pull back. Basically, one needs to determine the trend and the pull back on a higher time frame (I find this step the be crucial, more important even than the entry alone) then draw the pullback trend line on the current time frame and look for TL break...
Not sure why you are having problems. Perhaps you could post some pics showing where you got caught out. Maybe I can work out why the trades failed.
Post some pics showing the lines drawn & the trade results like this pic.
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSDM5.png Size: 26 KB
Conventional trading is for losers
  • #869
  • Mar 23, 2018 5:16am Mar 23, 2018 5:16am
Quoting pp22
Here is one of my cherry picked trades. Went against me as soon as I got in. I should have been in earlier, one wave above but I only saw it when I saw it. I still cant let go of some of my indicators though. But it was a nice 30 pip winner on the M1 {image}
Well done
Ditch the indicators. They are doing nothing for you, just a distraction.
Conventional trading is for losers
  • #870
  • Mar 23, 2018 6:39am Mar 23, 2018 6:39am
USDCHF potentially long
ive had more success drawing the trendline to the body of the candles rather than wicks I don’t know if that will help you guys.
Attached Image (click to enlarge)
Click to Enlarge Name: 13C8F13C-F5E4-4BBE-81D9-4D393DA94335.png Size: 193 KB
  • #871
  • Mar 23, 2018 6:41am Mar 23, 2018 6:41am
Quoting Ralffe
{quote} Not sure why you are having problems. Perhaps you could post some pics showing where you got caught out. Maybe I can work out why the trades failed. Post some pics showing the lines drawn & the trade results like this pic.
Thank you Ralffe!

EURUSD H4
- potential entry on breaking the high of the previous candle
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD - H4.JPG Size: 106 KB
Val
  • #872
  • Mar 23, 2018 7:00am Mar 23, 2018 7:00am
Quoting fxmarvel
{quote} Thank you Ralffe! EURUSD H4 - potential entry on breaking the high of the previous candle {image}
Pairs. Choose your pairs carefully. Not all pairs are “trend friendly” I just copied Pasted this from the 1st post. People seem to have forgotten this advice.

I would not be trading this pair on any other than the Daily, 15m or 1H. In fact I hardly ever trade this pair.
Your 4H line should look like this at present.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH4.png Size: 24 KB
Conventional trading is for losers
  • #873
  • Mar 23, 2018 7:19am Mar 23, 2018 7:19am
Here are a couple more I would have taken

EURCAD - Long H1
Attached Image (click to enlarge)
Click to Enlarge Name: EURCAD - H1.JPG Size: 77 KB


CADCHF - Short H1
Attached Image (click to enlarge)
Click to Enlarge Name: CADCHF - H1.JPG Size: 84 KB
Val
  • #874
  • Mar 23, 2018 8:38am Mar 23, 2018 8:38am
GBPUSD - Long H1
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD - H1.JPG Size: 80 KB


EURAUD - Short H1
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD - H1.JPG Size: 100 KB
Val
  • #875
  • Mar 23, 2018 10:41am Mar 23, 2018 10:41am
Quoting Ralffe
{quote} I also noticed you lowered the line to a minor wave. This can be deadly on small time frames. Take no short cuts & the system will work. You would not have got stopped out & not taken the long trade. {image}

Thank you Ralffe. I taked note. It will not happen again
  • #876
  • Mar 23, 2018 11:06pm Mar 23, 2018 11:06pm
Quoting fxmarvel
Here are a couple more I would have taken EURCAD - Long H1 {image} CADCHF - Short H1 {image}
I see all your charts are on the 1H time frame. Ok considering the ranging markets the past 2 months. Haven't seen this for a couple of years.
Makes trading hard.
Using lower time frames means more screen time being prepared to watch for the fake-outs which are much more prevalent in ranging markets.

Lets analyze each chart & see what happened.
EC. Not matter the angle on the 1H you would have been sucked into this trade for a 20 to 30 pip loss. However, the preceding trade would have reaped 200 pips, Don't take a single trade result in isolation. There will be losses along the way.
Also. You don't have to wait for your SL to be hit. If the line is crossed. Get out.
Always check all time frames before entering a trade. That trade would never have been taken if the 4H had been consulted first.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURCADH1.png Size: 26 KB
Click to Enlarge Name: EURCADH4.png Size: 26 KB
Conventional trading is for losers
  • #877
  • Mar 23, 2018 11:14pm Mar 23, 2018 11:14pm
Quoting fxmarvel
Here are a couple more I would have taken EURCAD - Long H1 {image} CADCHF - Short H1 {image}
CadChf
This would have been an add on trade to a retracement. Not wise & once again if the 4H had been consulted the trade would never have been takeb.
Conventional trading is for losers
  • #878
  • Mar 23, 2018 11:25pm Mar 23, 2018 11:25pm
Quoting fxmarvel
GBPUSD - Long H1 {image} EURAUD - Short H1 {image}
GU
Once again the 4H shows the folly of taking this trade on the 1H

EA
Same problem.
Do yourselves a favor folks. Eliminate the 1m, 5m, 30m, & 1H from your charts.
If you are prepared to spend lotsa screen time it's better to stick to the 15m.
Otherwise the 4H & Daily.
Different if you are a keen scalper of course.
Conventional trading is for losers
  • #879
  • Mar 24, 2018 3:52am Mar 24, 2018 3:52am
Quoting Ralffe
{quote} GU Once again the 4H shows the folly of taking this trade on the 1H EA Same problem. Do yourselves a favor folks. Eliminate the 1m, 5m, 30m, & 1H from your charts. If you are prepared to spend lotsa screen time it's better to stick to the 15m. Otherwise the 4H & Daily. Different if you are a keen scalper of course.
So ...... Draw lines on 4 hour chart to determine trend direction, then draw lines on 15 minute chart & just take trades in the direction of the 4 hour trend? Is this correct?
  • #880
  • Mar 24, 2018 6:14am Mar 24, 2018 6:14am
Quoting Trade.Time
{quote} So ...... Draw lines on 4 hour chart to determine trend direction, then draw lines on 15 minute chart & just take trades in the direction of the 4 hour trend? Is this correct?
No. The 4H is used as a guide to taking trades on the daily. The 4H will often give you a heads up for a potential direction change on the daily

The 15m can be used to take day trades in both directions. This for traders who are prepared to screen gaze for at least 2 to 4 hrs
Conventional trading is for losers
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