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Trading EURUSD only 43,756 replies

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  • #34,181
  • Aug 12, 2018 5:34am Aug 12, 2018 5:34am
Agreed on the monthly being in a bull trend, but PA certainly put it in ICU (intensive care unit)
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Self discipline It is a practice
  • #34,182
  • Aug 12, 2018 5:44am Aug 12, 2018 5:44am
Quoting imwim
{quote} Don't forget the Elder Paisios prophecies ... Turkey will be dismembered into 3-4 pieces, and Greece will give Constantinople back... https://www.youtube.com/watch?v=gC7T7FDl8oU
yeah its just can be possible in your dream , firstly greece should paid their debt to germany
  • #34,183
  • Aug 12, 2018 5:55am Aug 12, 2018 5:55am
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...
I agree. And actually 5 pips SL for 2nd trade is still a little too optimistic. Therefore here are additional ways of choice that can handle the tight SL and your 3X critic:

  1. Scenario: Open X trade.. Achieve a +50 pips profit, then put a 2nd order with 2X lots and 10 pips SL.

    1. Positive Sub Case: Both trades get stopped out. End result: (50 - 20) - 20 = 10 pips minimum.
    2. Positive Sub Case: Only 2nd trade gets stopped out. End result: 100 - 20 = 80 pips.
    3. Positive Sub Case: Both trades succeed. End result: 100 + (2 x 50) = 200 pips.

  2. Scenario: Open X trade.. Achieve a +50 pips profit, then put a 2nd order with an additional X lots and 15 pips SL.

    1. Positive Sub Case: Both trades get stopped out. End result: (50 - 15) - 15 = 20 pips minimum.
    2. Positive Sub Case: Only 2nd trade gets stopped out. End result: 100 - 15 = 85 pips.
    3. Positive Sub Case: Both trades succeed. End result: 100 + 50 = 150 pips.

  3. Scenario: Open X trade.. Achieve a +50 pips profit, then put a 2nd order with an additional X lots and 20 pips SL.

    1. Positive Sub Case: Both trades get stopped out. End result: (50 - 20) - 20 = 10 pips minimum.
    2. Positive Sub Case: Only 2nd trade gets stopped out. End result: 100 - 20 = 80 pips.
    3. Positive Sub Case: Both trades succeed. End result: 100 + 50 = 150 pips.


The goal in these type of trades is to have safer trades by using better and more logical SL levels and as you can see profit is still satisfying. My favorite is scenario 2 because I generally use 10 to 15 pips SL and rarely 20/25.. That would mean my 1st trade will also have not more than 20 pips SL levels which in the longer run can make me benefit of this idea even better. But..... based on my own relaxed system this logic is adding stress because now you are expecting and hoping for a specific target.. The trick of my system is that we keep our brains free from targets and keep our trades open as much as it gets.. That little mentality difference makes huge impact on your nervous system. I hope I can explain this one day in detail. But yeah, these are my thoughts around the idea. My two cents..

Stay Green

Focus only on what truly matters!
  • #34,184
  • Aug 12, 2018 6:15am Aug 12, 2018 6:15am
Quoting mbrown
{quote} 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. {quote} If sliding parallel lines are being used properly...
Which settings did you use?. Try Atr period=3 and multiple factor 1.75. This performed far better than MA trailing, previous bar's high and fractal trailing.
Thanks
  • #34,185
  • Aug 12, 2018 6:17am Aug 12, 2018 6:17am
Quoting Ata-Turkoglu
{quote} The trick of my system is that we keep our brains free from targets and keep our trades open as much as it gets.. Stay Green
I agree 100%. I never put Take Profit. My Trading Plan rules would indicate when it is time to Take Profit.
Only real values: Valid rules, discipline and experience.
  • #34,186
  • Aug 12, 2018 6:21am Aug 12, 2018 6:21am
Quoting Ata-Turkoglu
{quote} That little mentality difference makes huge impact on your nervous system. Stay Green
A very important consideration. LOL...probably explains why I'm a nervous wreck!!!!


Quoting Donwealt
{quote} Which settings did you use?. Try Atr period=3 and multiple factor 1.75. This performed far better than MA trailing, previous bar's high and fractal trailing. Thanks

I've abandoned trying to use it as a trailing stop. I'll let you know when the breakout EA has been developed.
  • #34,187
  • Aug 12, 2018 6:22am Aug 12, 2018 6:22am
Quoting Ata-Turkoglu
{quote} I agree. And actually 5 pips SL for 2nd trade is still a little too optimistic. Therefore here are additional ways of choice that can handle the tight SL and your 3X critic: Scenario: Open X trade.. Achieve a +50 pips profit, then put a 2nd order with 2X lots and 10 pips SL. Positive Sub Case: Both trades get stopped out. End result: (50 - 20) - 20 = 10 pips minimum. Positive Sub Case: Only 2nd trade gets stopped out. End result: 100 - 20 = 80 pips. Positive Sub Case: Both trades succeed. End result: 100 + (2 x 50) = 200 pips. Scenario:...
Yea having open trades are good. At least from the testimony of your trades. But the key is having the right trailing strategy that keeps much of your profits and at the same time allows trades to move to their logical conclusion. Maybe you teach us the optimal trailing strategy.
Thanks
  • #34,188
  • Aug 12, 2018 6:25am Aug 12, 2018 6:25am
Quoting Ata-Turkoglu
{quote} I agree. And actually 5 pips SL for 2nd trade is still a little too optimistic. Therefore here are additional ways of choice that can handle the tight SL and your 3X critic: Scenario: Open X trade.. Achieve a +50 pips profit, then put a 2nd order with 2X lots and 10 pips SL. Positive Sub Case: Both trades get stopped out. End result: (50 - 20) - 20 = 10 pips minimum. Positive Sub Case: Only 2nd trade gets stopped out. End result: 100 - 20 = 80 pips. Positive Sub Case: Both trades succeed. End result: 100 + (2 x 50) = 200 pips. Scenario:...
Ata, you can use this system without the TP. If both trades go into profit, just handle both of them in the same way as you handle one with your system. Let both trades get you as much as they can get without the stress of the TP.
Observation is the path to discovery.
  • #34,189
  • Aug 12, 2018 7:16am Aug 12, 2018 7:16am
Quoting Slt93
{quote} 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...

thanks bro for the word of caution...but my view is...the low of both may and june monthly candles have been broken hence my sentiment of saying the monthly is still down. i dont use indicators at all, only candles so not sure of the input of the ema you mentioned, i am stilll holding my short and i will sure be cautious as anything can happen in the market at any time...cheers.
  • #34,190
  • Aug 12, 2018 8:32am Aug 12, 2018 8:32am
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...

you are blessed
  • #34,191
  • Aug 12, 2018 9:45am Aug 12, 2018 9:45am
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...

Hi Ata,

I like your approach.

Have you looked at just using just Horizontal Lines and the Buying / Selling that takes place around Whole and half Numbers.

Just an observation.
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  • #34,192
  • Aug 12, 2018 11:48am Aug 12, 2018 11:48am
Quoting Slt93
{quote} 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...
Depends on ones perspective I reckon. Below the monthly 200 , below the daily 200 and about to test the weekly 200 from the top along with the failure at the top trendline and now thru the bottom trendline , Maybe it was only a retrace up to test the breakdown level , a few weeks to go before this month closes but currently not a resounding picture of strength with a weekly close below neckline of 1665ish . Once again all in ones perspective but the whole picture as stated not overly bullish looking , maybe it wasent certainly up to begin with on a long chart view ,,,, as always time will tell
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  • #34,193
  • Aug 12, 2018 12:09pm Aug 12, 2018 12:09pm
Quoting Donwealt
{quote} Yea having open trades are good. At least from the testimony of your trades. But the key is having the right trailing strategy that keeps much of your profits and at the same time allows trades to move to their logical conclusion. Maybe you teach us the optimal trailing strategy. Thanks
30 min EURUSD intraday BAT ATR EA done (not the trailing stop one) . I'll upload it to the EA thread early next week for you to optimise. Thank you for the indy and the idea.
Attached Image
  • #34,194
  • Aug 12, 2018 12:47pm Aug 12, 2018 12:47pm
I was rereading my favorite trading book over the weekend and I came across this statement. Every time I reread it I find something new.

"True knowledge appears when mental agitation disappears."

Having been at this for quite some time, I'm beginning to understand what the author is conveying.

I can ask a hundred questions of a mentor, but I must answer a hundred questions myself. Otherwise the answers will not be in me.

Just a little nugget of philosophy for a Sunday!
  • #34,195
  • Aug 12, 2018 1:11pm Aug 12, 2018 1:11pm
And the books name was?
  • #34,196
  • Aug 12, 2018 1:12pm Aug 12, 2018 1:12pm
Quoting mbrown
{quote} 30 min EURUSD intraday BAT ATR EA done (not the trailing stop one) . I'll upload it to the EA thread early next week for you to optimise. Thank you for the indy and the idea. {image}
Thank you.
Hopefully you will paste the link to the thread here because I don't know the thread.I'm new here.

Since you didnt do the trailing stop, Please do you know any better trailing stop EA? Kindly post here. Thank you.
  • #34,197
  • Aug 12, 2018 1:15pm Aug 12, 2018 1:15pm
IMO, best trading book there's remains "Trading in the zone" by Mark Douglas.
  • #34,198
  • Aug 12, 2018 1:17pm Aug 12, 2018 1:17pm
Quoting Larseg
And the books name was?
I didn't say, out of respect to Ata and his teaching. But I did mention the author on an earlier post.
  • #34,199
  • Aug 12, 2018 1:18pm Aug 12, 2018 1:18pm
Quoting Sossos
I was rereading my favorite trading book over the weekend and I came across this statement. Every time I reread it I find something new. "True knowledge appears when mental agitation disappears." Having been at this for quite some time, I'm beginning to understand what the author is conveying. I can ask a hundred questions of a mentor, but I must answer a hundred questions myself. Otherwise the answers will not be in me. Just a little nugget of philosophy for a Sunday!
Lol, that is one major nugget most just dont get , that fits all the little sayings ,, give a man a fish feed him for a day , teach a man to fish he is fed for a life time ,,, ,, ships are not built to sit in a safe harbor, hard to classify one seaworthy till it has a few storms on the sea under its belt . This day and age everyone is looking for instant easy repeating results or someone to tell them exactly what to do and when to do it ,,, every situation is just enough different that its hard to convey and sometimes not enough time to convey even if one wanted too . Systems fail , they cant help it , they are designed for a closed environment , the mkt is far from a closed environment, a methodology and a way to implement and adapt to what the mkt is saying is the only way one can consistently profit . A very good thread for things that will help a person become a trader right here and ones own experience will help solidify the stepping stones here
  • #34,200
  • Aug 12, 2018 1:52pm Aug 12, 2018 1:52pm
Quoting Donwealt
{quote} Thank you. Hopefully you will paste the link to the thread here because I don't know the thread.I'm new here. Since you didnt do the trailing stop, Please do you know any better trailing stop EA? Kindly post here. Thank you.
No problem.

Just type "trailing stop EA" in the search text box top right handside of your screen. There are many on FF.
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