Finally a good week.
Risiko birgt immer auch die Chance.
- #13,541
- Mar 23, 2018 10:57am Mar 23, 2018 10:57am
- Joined Jun 2013 | Status: Membership Rewarded | 3,206 Posts
Finally a good week.
- #13,543
- Mar 26, 2018 10:37am Mar 26, 2018 10:37am
- Joined Mar 2009 | Status: I know that I know nothing | 2,780 Posts
- #13,545
- Mar 26, 2018 11:10am Mar 26, 2018 11:10am
- Joined Mar 2009 | Status: I know that I know nothing | 2,780 Posts
- #13,546
- Mar 26, 2018 8:36pm Mar 26, 2018 8:36pm
The thread's guardian angel has send me an updated manual and gave permission to post here. Some good updates in there. The trade checklist rocks!rapidshare.com/files/430141724/The_Simple_Dance.pdf (add http:// )
- #13,547
- Mar 27, 2018 12:50am Mar 27, 2018 12:50am
- Joined Mar 2009 | Status: I know that I know nothing | 2,780 Posts
- #13,551
- Mar 28, 2018 11:16am Mar 28, 2018 11:16am
Hey!
First of all, thank you very much for this thread! Coming across this strategy is probably the best thing that could have happened to me on this forum.
I'm still reading the guide and wrote plenty of stuff down. Haven't finished it yet but I'm checking and testing from day to day with a few pairs.
So today I got this:
The white circle is where I entered my long position (106.144). Closed my trade at 106.25. 106 Pips.
But when looking back at my notes I'm not quite sure which trade I just did LOL.
I wrote down that there is the AAA Touch Trade and the Constrainment Trade.
To be honest when I entered my trade I thought this would be a AAA Touch Trade. After hitting the tp I realized that for a 10EMA Touch Trade it allows max 2 bars to touch the EMA10. In this case it didn't. Other requirements like >45 degree angle fit though.
So I assume that this was a constrainment trade? It bounced against the EMA10 a few times (3).
So just to make sure that I understand it correctly:
For a constrainment trade it requires the bars to bounce a few times on the MAs, am I correct? I wanna make sure that I understand it and not win some pips through luck.
Thanks everyone!
First of all, thank you very much for this thread! Coming across this strategy is probably the best thing that could have happened to me on this forum.
I'm still reading the guide and wrote plenty of stuff down. Haven't finished it yet but I'm checking and testing from day to day with a few pairs.
So today I got this:
The white circle is where I entered my long position (106.144). Closed my trade at 106.25. 106 Pips.
But when looking back at my notes I'm not quite sure which trade I just did LOL.
I wrote down that there is the AAA Touch Trade and the Constrainment Trade.
To be honest when I entered my trade I thought this would be a AAA Touch Trade. After hitting the tp I realized that for a 10EMA Touch Trade it allows max 2 bars to touch the EMA10. In this case it didn't. Other requirements like >45 degree angle fit though.
So I assume that this was a constrainment trade? It bounced against the EMA10 a few times (3).
So just to make sure that I understand it correctly:
For a constrainment trade it requires the bars to bounce a few times on the MAs, am I correct? I wanna make sure that I understand it and not win some pips through luck.
Thanks everyone!
- #13,552
- Mar 28, 2018 12:38pm Mar 28, 2018 12:38pm
- Joined Mar 2009 | Status: I know that I know nothing | 2,780 Posts
- #13,553
- Edited Mar 29, 2018 4:27am Mar 28, 2018 1:51pm | Edited Mar 29, 2018 4:27am
- Joined Jun 2013 | Status: Membership Rewarded | 3,206 Posts
Risiko birgt immer auch die Chance.
- #13,555
- Mar 29, 2018 4:27am Mar 29, 2018 4:27am
- Joined Jun 2013 | Status: Membership Rewarded | 3,206 Posts
Risiko birgt immer auch die Chance.
- #13,556
- Mar 29, 2018 4:49am Mar 29, 2018 4:49am
- Joined Mar 2009 | Status: I know that I know nothing | 2,780 Posts
It is actually footage from the annual gathering of CHOROS traders....
- #13,557
- Edited 5:32am Mar 29, 2018 5:11am | Edited 5:32am
Just took another trade (AAA Touch Trade on the SMA35) on GBPUSD:
The green line was my short entry @1.40707. SL was set to 1.40757 (50 Pips) TP was hit @1.40611 (Had a support line drawn there).
I was about to move my SL lower to lock some profits when the TP was suddenly hit (yay).
To be honest I had a feeling though like this was a risky trade? I immediately took the trade without waiting for a confirmation candle. The bounce of the SMA35 (yellow) was a short signal for me. Angle line drawn showed me 30 degree. Also compared to the Simple Dance Guide I don't use super tight SLs with 12 Pips. I used 50 pips in this trade to let the trade breath and adjusted the lot size according to it to match my risk. The risk to reward ratio was close to 2.0 which is pretty low for this strategy I guess? The trade I took before in my previous post had a much bigger ratio.
This trading strategy feels like scalping lol.
Edit: The difference between 1.40707 and 1.40757 is 0.00050. I'm assuming that those are 50 Pips. (A little bit confused because on MyFXBook they show the SL as 5 Pips and TP 9.60 Pips while I thought it's 50 Pips SL and 96 Pips TP.
Thoughts?
What's the meaning of destroying plates? haha
The green line was my short entry @1.40707. SL was set to 1.40757 (50 Pips) TP was hit @1.40611 (Had a support line drawn there).
I was about to move my SL lower to lock some profits when the TP was suddenly hit (yay).
To be honest I had a feeling though like this was a risky trade? I immediately took the trade without waiting for a confirmation candle. The bounce of the SMA35 (yellow) was a short signal for me. Angle line drawn showed me 30 degree. Also compared to the Simple Dance Guide I don't use super tight SLs with 12 Pips. I used 50 pips in this trade to let the trade breath and adjusted the lot size according to it to match my risk. The risk to reward ratio was close to 2.0 which is pretty low for this strategy I guess? The trade I took before in my previous post had a much bigger ratio.
This trading strategy feels like scalping lol.
Edit: The difference between 1.40707 and 1.40757 is 0.00050. I'm assuming that those are 50 Pips. (A little bit confused because on MyFXBook they show the SL as 5 Pips and TP 9.60 Pips while I thought it's 50 Pips SL and 96 Pips TP.
Thoughts?
What's the meaning of destroying plates? haha
- #13,558
- Edited 11:07am Mar 29, 2018 5:51am | Edited 11:07am
- Joined Jun 2013 | Status: Membership Rewarded | 3,206 Posts
Just took another trade (AAA Touch Trade on the SMA35) on GBPUSD: The green line was my short entry @1.40707. SL was set to 1.40757 (50 Pips) TP was hit @1.40611 (Had a support line drawn there). I was about to move my SL lower to lock some profits when the TP was suddenly hit (yay). {image} To be honest I had a feeling though like this was a risky trade? I immediately took the trade without waiting for a confirmation candle. The bounce of the SMA35 (yellow) was a short signal for me. Angle line drawn showed me 30 degree. Also compared to the Simple...
as first .. it´s 5 pips
.Second.
it needs a bit time to get a feeling how to get it right.. and most important .. patience .. patience.. patience..
I´d recomment to use a ratio from 1:1 or better.
Good luck and green pips..
Guido
Risiko birgt immer auch die Chance.
- #13,559
- Mar 29, 2018 5:57am Mar 29, 2018 5:57am
{quote} hi.. and welcome.. as first .. it´s 5 pips
Yeah, usually I only take trades with a Risk-Reward-Ratio greater than 1.5.