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Trading EURUSD only 43,756 replies

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  • #34,161
  • Aug 11, 2018 4:52pm Aug 11, 2018 4:52pm
The trend on the Weekly chart is down.

But don't forget to always be like water.........

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Without VSA, you're playing checkers while the Smart Money plays chess.
  • #34,162
  • Aug 11, 2018 4:58pm Aug 11, 2018 4:58pm
Quoting Ata-Turkoglu
{quote} Your logic is very good indeed. And personally, I can start trying your logic with this condition: For my next 10 trades, once one of my trades reaches +50 pips profit I will immediately apply your logic combined with my own. That way I would know that in a worst case scenario I would still get 20 pips but that now I have the chance to get an additional 65 or 230 pips more than I planned. I'll keep you posted.. Stay Green
I think better is the optimization formula/process from here :
https://www.forexfactory.com/showthr...76#post8767076
I am who I am
  • #34,163
  • Aug 11, 2018 5:43pm Aug 11, 2018 5:43pm
Quoting Ata-Turkoglu
{quote} I went through your smart logic and here is my thinking process: Positive Case: You opened an X lots trade at 1.1400 and luckily price runs to 1.1450 You are opening a 2nd trade with 3X lots that will have 5 pips SL. Then you are calculating where to trail SL of the 1st trade with help of this formula: Current Price - (3X trade x 5 pips SL) Calculated value will be 1.1450 - (3 x 5 pips) = 1.1450 - 0.0015 = 1.1435 Now you are trailing 1st trade's SL to 1.1435 1st trade SL is moved to 1.1435 and thereby +35 pips is guaranteed for 1st trade!...
Also, this money management system can be modified and I do it all the time. It doesn't require a huge 50 pip gain. For example, if market goes from 1.1400 to 1.1420, and I really like the market, sometimes I might do second buy 3x with a 4 pip s/l and slide my first s/l up to 1.1412, thereby locking in a break even, but I have 4 units at work. The keys as you figured out is a)the entry point on the 2nd buy, AND b) playing with the "houses money". I never deploy this strategy in a losing trade.

Looking forward to hearing if it works for you. Your system is amazing, and I cant wait til I feel more confident about it so I can deploy it in real time. You are so kind to provide details of your system to all. Keep us posted. Thanks
  • #34,164
  • Aug 11, 2018 6:10pm Aug 11, 2018 6:10pm
Quoting tommygo
{quote} Also, this money management system can be modified and I do it all the time. It doesn't require a huge 50 pip gain. For example, if market goes from 1.1400 to 1.1420, and I really like the market, sometimes I might do second buy 3x with a 4 pip s/l and slide my first s/l up to 1.1412, thereby locking in a break even, but I have 4 units at work. The keys as you figured out is a)the entry point on the 2nd buy, AND b) playing with the "houses money". I never deploy this strategy in a losing trade.

this one looks much better and much more realistic , only thing is that a 4 pip stop is almost guaranteed to be hit

but i could develop other interesting models , formulae and variations for possible pyramiding strategies
  • #34,165
  • Aug 11, 2018 6:44pm Aug 11, 2018 6:44pm
Quoting MXT
{quote} ... Draghi's whatever-it-takes ...
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I am who I am
  • #34,166
  • Aug 11, 2018 8:50pm Aug 11, 2018 8:50pm
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  • #34,167
  • Aug 11, 2018 9:13pm Aug 11, 2018 9:13pm
Is that fisherman using a euro or a dollar for bait? I need to know for my next fishing trip.

Green Acres is the place to be.
  • #34,168
  • Aug 11, 2018 10:21pm Aug 11, 2018 10:21pm
TF - W, Harmonic pattern 5-0

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  • #34,169
  • Aug 12, 2018 2:54am Aug 12, 2018 2:54am
Quoting Ata-Turkoglu
{quote} On chart below I tried to picture the process.. This is the core of trading with my method and again I am very generous today to reveal this method which you will not find in any source or book or whatsoever resource on earth.. Fully new.. Fully my own invention.. Let me quickly explain.. Read my explanations while looking at every numbered part that I am mentioning on the image below of this post. Today, as you remember, drop started earlier and at 1.1465 area a bullish candle appeared. So, whenever we see a bullish candle completion...
Good morning Ata.
Nice one again there but I noticed there's conflicting/contradicting approach to the BEARISH CANDLE cloned lines. @candle 3, you cloned from body top of bearish candle while in candle 7, you cloned from body bottom of bearish candle. Which is the rule? Or is it a matter of discretion?
Thanks.
  • #34,170
  • Aug 12, 2018 3:09am Aug 12, 2018 3:09am
Quoting tommygo
{quote} Also, this money management system can be modified and I do it all the time. It doesn't require a huge 50 pip gain. For example, if market goes from 1.1400 to 1.1420, and I really like the market, sometimes I might do second buy 3x with a 4 pip s/l and slide my first s/l up to 1.1412, thereby locking in a break even, but I have 4 units at work. The keys as you figured out is a)the entry point on the 2nd buy, AND b) playing with the "houses money". I never deploy this strategy in a losing trade. Looking forward to hearing if it works for...
I don't really believe it must be 3 extra contracts. The sole aim is to use locked in profit of first trade to carry 2nd trade (whatever amount of contracts safe enough) with the hope that price continues to move in our favour. 2nd trade mustn't be 3.

The indicator I posted earlier, if it could be converted to trailing stop ea, is so perfect for this because of it's behavior during pullback. The key is this, during pullback, we check the position of the trailing stop to determine the amount of locked in profit. So the size and risk of 2nd trade is such that it's less than the locked in profit of the 1st trade.

Happy trading all
  • #34,171
  • Aug 12, 2018 3:13am Aug 12, 2018 3:13am
Quoting Starcraftmaz
Took a short at 1.1442. Reasoning is it was testing around 1.145 previous short term support and failed, so going down to a new low now. Short term trade, will close before too long. I would suggest close all trades before weekend, this has been a pretty interesting end to the week. Don't discount Turkey doing something like raising rates by 10% over the weekend causing a huge gap up in risk. Definitely don't bet on it either!
Don't forget the Elder Paisios prophecies ...

Turkey will be dismembered into 3-4 pieces, and Greece will give Constantinople back...
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  • #34,172
  • Aug 12, 2018 3:44am Aug 12, 2018 3:44am
Quoting robin2003
TF - W, Harmonic pattern 5-0 {image}

nice chart, personally i am still with the bears on this pair, if you look at where you pointed the bulls to come in from your chat, its still like 300 pips from the current price (if i am not wrong)...as far as i am concerned, i dont see the bulls coming in yet...but i may be wrong...we will see what happens next week...nice one bro.
  • #34,173
  • Aug 12, 2018 3:46am Aug 12, 2018 3:46am
Quoting HiddenGap
The trend on the Weekly chart is down. But don't forget to always be like water......... {image}
yeah bro, weekly is still down same as monthly...and sure, its good to always be like water, lets see what plays out next week.

  • #34,174
  • Aug 12, 2018 4:09am Aug 12, 2018 4:09am
Quoting Donwealt
{quote} I don't really believe it must be 3 extra contracts. The sole aim is to use locked in profit of first trade to carry 2nd trade (whatever amount of contracts safe enough) with the hope that price continues to move in our favour. 2nd trade mustn't be 3. The indicator I posted earlier, if it could be converted to trailing stop ea, is so perfect for this because of it's behavior during pullback. The key is this, during pullback, we check the position of the trailing stop to determine the amount of locked in profit. So the size and risk of 2nd...
yesterday I downloaded the indy and ran some tests. For sliding parallel lines trading, you make more pips cutting your losses way before the price breaches the ATR trailing stop or cutting losses/taking small profits on minor retraces then reentering after reenter rules have been confirmed. Basically, the ATR trail gets in the way of the edge.

The indy lines do look good and have potential for a break-out (buy or sell stop) and trail EA combined with retrace limit entry functionality.

Quoting MXT
{quote} this one looks much better and much more realistic , only thing is that a 4 pip stop is almost guaranteed to be hit but i could develop other interesting models , formulae and variations for possible pyramiding strategies
If sliding parallel lines are being used properly (as is the case here) 4 pip stops aren't guaranteed to be hit. In truth, you should be able to get down to a 1 to 2 pip stop.
  • #34,175
  • Edited 6:56am Aug 12, 2018 4:47am | Edited 6:56am
Quoting bjpumping
{quote} weekly is still down same as monthly...
A word of caution. The monthly is certainly not "still down". It has not been "still down" since April 2017.

Facts
1. It has been UP since 1st May, 2017 when Price Closed above the 10 EMA in April, 2017. Today the 10 EMA is still above the 50 EMA - on the published chart. When I enlarge my chart to maximum on my computer (you cannot do it on the chart I published), it shows the 10 EMA just appearing below the 50 EMA, but not with Daylight - it can still disappear with an up move. So, not sure it is Down yet.
2. It has been an UP Divergent BUY since 1st July, 2017 when the Stochastic Triggered UP. Today the Stochastic has NOT Triggered Down yet - as can be seen on the chart.
3. The MACD Reversed UP with Daylight on 1st August, 2017. Today it is still in a LONG mode.

Result: The monthly is still in LONG mode. Just a word of caution.

Yes, I agree. Lower time frames from Weekly till the M20 clearly show the market going Down. That is currently not the case on the Monthly.
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Only real values: Valid rules, discipline and experience.
  • #34,176
  • Aug 12, 2018 4:51am Aug 12, 2018 4:51am
[quote=Ata-Turkoglu;11358674]{quote} I went through your smart logic and here is my thinking process: Positive Case: You opened an X lots trade at 1.1400 and luckily price runs to 1.1450 You are opening a 2nd trade with 3X lots that will have 5 pips SL. Then you are calculating where

Ata's explanation of this strategy is more understanding, i should try this and see if it works for me too
  • #34,177
  • Aug 12, 2018 5:12am Aug 12, 2018 5:12am
Quoting mbrown
{quote} If lines are being used properly (as is the case here) 4 pip stops aren't guaranteed to be hit. In truth, you should be able to get down to a 1 to 2 pip stop.
i hear you man , but many times even if a 3 pip stop would do the job , just the occurrence of stupid random market noise would hit your stop

maybe a more realistic figure would be a 12 / 16 pip stop on the second pyramiding entry , which could be more robust , stable and safe in a bigger number of cases , but with that kind of stop , the model should be modified and adjusted a bit
  • #34,178
  • Aug 12, 2018 5:28am Aug 12, 2018 5:28am
another view of the US Dollar (not DXY)

this is a weighted average currency chart

Weekly
Attached Image (click to enlarge)
Click to Enlarge Name: USD Weekly 081218.png Size: 98 KB
90% of people, are wrong about 90% of everything, 90% of the time...
  • #34,179
  • Aug 12, 2018 5:31am Aug 12, 2018 5:31am
Quoting MXT
{quote} i hear you man , but many times even if a 3 pip stop would do the job , just the occurrence of stupid random market noise would hit your stop maybe a more realistic figure would be a 12 / 16 pip stop on the second pyramiding entry , which could be more robust , stable and safe in a bigger number of cases , but with that kind of stop , the model should be modified and adjusted a bit

Respect my man, but trust me on this one. Overtime as you use sliding parallel lines to trade you will see quickly that what was once considered a small stop-loss (10 to 20 pips) is no longer required. 1 to 5 pips are all that is necessary when trading outside the news. I had quite the back and forth with Digger and co about this last year but I'm glad the thread is now catching-up.

Although I do not manual trade anymore, it is a pleasure to watch as Ata and folks make discoveries. I am sat with my pop-corn watching and waiting with excitement for one massive realisation about the markets to occur: "if I shift iterate this parallel 100, 1000, 10000, 1000000 and the price still reacts to it, that actually means X which means I can simply make a fortune doing X."
  • #34,180
  • Aug 12, 2018 5:33am Aug 12, 2018 5:33am
Quoting theDHT
another view of the US Dollar (not DXY) this is a weighted average currency chart Weekly {image}
corresponding view of the EURO weighted average

Weekly: Note the breakout above supply zone followed by a test of the line
Attached Image (click to enlarge)
Click to Enlarge Name: EURO Composite Weekly 081218.png Size: 122 KB


Daily: Note the fib level
Attached Image (click to enlarge)
Click to Enlarge Name: EURO Composite Daily 081218.png Size: 123 KB
90% of people, are wrong about 90% of everything, 90% of the time...
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