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(binned per thread starter’s request) Neil's contrarian approach

  • #21
  • Jul 30, 2018 1:59am Jul 30, 2018 1:59am
I found that information on the change of long/short % over a period of time is more useful than a static long/short % number. Oanda and Forexfactory provide that information. Is that information available at any other online resources ?
  • #22
  • Jul 30, 2018 5:31am Jul 30, 2018 5:31am
entered sell GBP/USD and Buy USD/CHF according to the rules posted,both are tanking at the moment lets hope they turn around its early days yet,would love to know the exit rules,thanks for starting the thread venividivici
  • #23
  • Jul 30, 2018 5:41am Jul 30, 2018 5:41am
I like where you're going with this.
Stand strong against any "tweaks" or "Filters". If you don't this will be unrecognizable within 3 pages.
I would like to know how you set your SL and TP.
  • #24
  • Jul 30, 2018 6:04am Jul 30, 2018 6:04am
Also to clarify, RSI, we're not going to discuss the use Heiken Ashi candles, which would mean RSI(2, Close)?
Also, it would observed earlier in the original thread that it appeared the contrarian relationship to myFXbook was more effective Monday & Tuesday.
  • #25
  • Jul 30, 2018 7:49am Jul 30, 2018 7:49am
first trade using the method and i think it will not end up good. took the entry right at the 30 but the price turned
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Forex is a wild wild beast. You cannot tame it. Just run wild with it.
  • #26
  • Jul 30, 2018 8:05am Jul 30, 2018 8:05am
Quoting assassin85
first trade using the method and i think it will not end up good. took the entry right at the 30 but the price turned {image}
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Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #27
  • Jul 30, 2018 8:08am Jul 30, 2018 8:08am
Quoting heispark
{quote} {image}
how to check the strengh of a currency? indicators like the donforex? but according to the first post we cant use WCU or donforex
Forex is a wild wild beast. You cannot tame it. Just run wild with it.
  • #28
  • Jul 30, 2018 8:42am Jul 30, 2018 8:42am
usdchf Short
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life is short.enjoy your coffee...
  • #29
  • Jul 30, 2018 8:47am Jul 30, 2018 8:47am
Quoting assassin85
first trade using the method and i think it will not end up good. took the entry right at the 30 but the price turned {image}

Every trade is not going to be a winner. That's why money management plays a very important part in this system and in fact any system. Money management(SL,TP) is purely trader discretion no matter what someone else is using.

PS Don't judge any system based on one trade.
K.I.S.S.
  • #30
  • Jul 30, 2018 8:51am Jul 30, 2018 8:51am
not judging. just sharing the result

Quoting reader1
usdchf Short {image} {image}
you went with the retail traders. can you tell why you did that as we are following the contrarian approach
Forex is a wild wild beast. You cannot tame it. Just run wild with it.
  • #31
  • Jul 30, 2018 9:13am Jul 30, 2018 9:13am
Quoting assassin85
not judging. just sharing the result {quote} you went with the retail traders. can you tell why you did that as we are following the contrarian approach

hi assassin85 more learning period..
no sl waiting reversal market...


re entry gbpchf neilsdigest
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life is short.enjoy your coffee...
  • #32
  • Edited 11:50am Aug 1, 2018 9:37am | Edited 11:50am
Playing around with line break charts (non-default) on mt4 Attachment
Compared to TV chart
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  • #33
  • Edited 11:48am Aug 1, 2018 9:41am | Edited 11:48am
GBPCAD short would have been a decent trade so far. [attach];Attachment
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  • #34
  • Aug 2, 2018 2:09am Aug 2, 2018 2:09am
Still no explanation about tp and sl ?
Gambling = 0% skill, 100% luck. Trading = 1% skill, 99% luck.
  • #35
  • Aug 4, 2018 11:19am Aug 4, 2018 11:19am
im goint to let my 2 trades I entered at the start of the week run,the sell GBP/USD and the buy USD/CHF ,as neilsdigest suggests as long as retails traders are still buying/selling over 70% stay in the trade
  • #36
  • Aug 4, 2018 9:22pm Aug 4, 2018 9:22pm
Quoting Shakka
Still no explanation about tp and sl ?
I recall him saying, remain in the trade until you see the 70% starting to drop.. (65%, 60%....) or if rsiHLC goes opposite way.
He also used a 2 MA and placed sl at the bottom/ top of that candle I believe. V - correct me if I'm wrong here.

The strategy is great just need to figure out ideal moments of when entry is good, aside from the rsi2 hlc3.

Line Break Candles were recommended by Neil since it does not use time, rather PA.

NonLiner - those charts look very good side by side - can you redirect me to where I can mimic or be kind enough to provide template?

Cheers.
  • #37
  • Aug 5, 2018 5:47am Aug 5, 2018 5:47am
Quoting nonlinear
Playing around with line break charts (non-default) on mt4 2923563 Compared to TV chart {image} {image}
Hi. Interesting approach. Just wondering if you could please share the line chart builder. Thanks
  • #38
  • Aug 6, 2018 12:11am Aug 6, 2018 12:11am
How can I get RSI period 2 hlc3 in mt4?

I don't know how to get that hlc3.
Anything above the line is an uptrend, below the line is a downtrend.
  • #39
  • Aug 6, 2018 12:15am Aug 6, 2018 12:15am
Quoting Degolep
How can I get RSI period 2 hlc3 in mt4? I don't know how to get that hlc3.
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Trade well.
  • #40
  • Aug 6, 2018 12:42am Aug 6, 2018 12:42am
Quoting Shakka
{quote} What about with the TP and SL ? The risk % per trade ? Thanks.
This is a typical trading strategy without a execution plan which make it impossible to check it's trading robustness and effectiveness and therefore rendering it useless just like most of the trading strategy which is found in FF.

Hehe
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