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Simple Daily Trend Reversal Trading System

  • #4,341
  • Aug 23, 2018 9:04am Aug 23, 2018 9:04am
Quoting mrdfx
Just entered sell on EJ. {image}
Stopped out on EJ.

It's pushed straight through R100 level and the momentum is strong, its better to wait and look for more opportunities to renter again later.
Truth is like poetry. And most people f*cking hate poetry.
  • #4,342
  • Aug 23, 2018 10:46am Aug 23, 2018 10:46am
Quoting mrdfx
Sold EG, and added more positions on EJ. {image}
EG hit SL on that huge spike up.

Will look to reenter after confirmation.
Truth is like poetry. And most people f*cking hate poetry.
  • #4,343
  • Aug 23, 2018 1:09pm Aug 23, 2018 1:09pm
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Do good and throw it into the water.
  • #4,344
  • Aug 23, 2018 1:22pm Aug 23, 2018 1:22pm
Quoting ihrust
{image} {image} {image} {image} {image}
You have some nice trades there, however I would be very cautious of trading any pairs that have broken through the S/R100 levels. Normally this indicates a strong trend and rejection of any potential reversal.

If I see a pair break the S/R100 level most times I will not trade it unless I see some solid PA on higher time frames indicating a weakness in momentum.
Truth is like poetry. And most people f*cking hate poetry.
  • #4,345
  • Aug 23, 2018 3:06pm Aug 23, 2018 3:06pm
Quoting mrdfx
{quote} You have some nice trades there, however I would be very cautious of trading any pairs that have broken through the S/R100 levels. Normally this indicates a strong trend and rejection of any potential reversal. If I see a pair break the S/R100 level most times I will not trade it unless I see some solid PA on higher time frames indicating a weakness in momentum.
Thank you. I will draw attention to this . I thought about it...
Do good and throw it into the water.
  • #4,346
  • Aug 24, 2018 4:43am Aug 24, 2018 4:43am
Quoting jeidk11b
EUR USD Failed first time. lets see if it holds this time.. {image}
mrdfx and fellow traders,

Has any one thought of combining Supply Demand with this strategy? Is some one already doing it?
Just an example here EURUSD and few other failed trades posted on this thread worked nicely with Supply and Demand confluence. Is it something that we should look at?
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  • #4,347
  • Aug 24, 2018 4:50am Aug 24, 2018 4:50am
Quoting jeidk11b
EUR USD Failed first time. lets see if it holds this time.. {image}
mrdfx and fellow traders,

Has any one thought of combining Supply Demand with this strategy? Is some one already doing it? IMO it is worth exploring.

Just an example here EURUSD and few other failed trades posted on this thread worked nicely with Supply and Demand confluence.
Attached Image (click to enlarge)
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  • #4,348
  • Edited 6:17am Aug 24, 2018 5:55am | Edited 6:17am
Quoting TradeYodha
{quote} mrdfx and fellow traders, Has any one thought of combining Supply Demand with this strategy? Is some one already doing it? IMO it is worth exploring. Just an example here EURUSD and few other failed trades posted on this thread worked nicely with Supply and Demand confluence. {image}
This needs to be tested more if this S&D indicators are even worth anything. And yes I see that more ore less all the EUR trades are failing big time that have been posted in past few days.

But overall it looks like a simple and good strategy. Thx mrdfx.
Anything above the line is an uptrend, below the line is a downtrend.
  • #4,349
  • Aug 24, 2018 8:35pm Aug 24, 2018 8:35pm
Quoting TradeYodha
{quote} mrdfx and fellow traders, Has any one thought of combining Supply Demand with this strategy? Is some one already doing it? IMO it is worth exploring. Just an example here EURUSD and few other failed trades posted on this thread worked nicely with Supply and Demand confluence. {image}
Interesting. Could you kindly share the indicator, please?
Thank you.
  • #4,350
  • Aug 25, 2018 2:41am Aug 25, 2018 2:41am
Quoting TradeYodha
{quote} mrdfx and fellow traders, Has any one thought of combining Supply Demand with this strategy? Is some one already doing it? IMO it is worth exploring. Just an example here EURUSD and few other failed trades posted on this thread worked nicely with Supply and Demand confluence. {image}
Hello TradeYodha and traders,

Yes! I've been trying to apply Supply and Demand Zone confluence to mrdfx's valuable strategy. This is my personal preference to this strategy and I don't mean anything to complex the simple system. So I don't even add more indicator to the chart to draw S & D zones.

My preference is to first look the bigger timeframe (D1 or W1) S & D zones and direction. If daily or H4 S & D zones are in line with Pivot SR78 or 61 (prefer 78 more), go down to H1 and look for entry with confirmation.

I look Price Action too and look for opposing S & D zones near to avoid bad profit margin.

My TP is at Pivot level if there is no opposing S & D zone until pivot level. My SL is above or below previous swing.

Thanks
  • #4,351
  • Aug 25, 2018 3:36am Aug 25, 2018 3:36am
indicator is here: https://www.mql5.com/en/code/14545
  • #4,352
  • Aug 25, 2018 4:36am Aug 25, 2018 4:36am
Trade report for the week. The trade was conducted on H4. 2 profits, 1 stop. The rest were manually closed, as potentially unprofitable when entering the minimum profit.
Good luck!
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Do good and throw it into the water.
  • #4,353
  • Aug 26, 2018 3:58am Aug 26, 2018 3:58am
Hi, just found this discussion. Just my 2 cent, is it possible to put notification to this system? I mean when the setup is finding good moment for buy/sell, it will send notification to smartphone. So you can enjoy your day by only spending some minutes to analyze the notification.
  • #4,354
  • Aug 26, 2018 12:41pm Aug 26, 2018 12:41pm
It was another roller-coaster week, and I had a few stops taken out a long the way.

This week there were once again some strong trends with many pairs rejecting 61, 78 levels, and breaking through their S/R 100 levels.

This is one of the weak points of the strategy unfortunately, and as it being a trend reversal base strategy in strong trends it can fail.

We can never know if it is a strong trend until it breaks S/R 100, and in that case for me it signifies a strong trend, and that is why I don't trade past it.

The only way to avoid big losses in these kinds or market conditions is to use a good MM, and to manage your risk appropriately. This wasn't the best week, but at least I did not lose more than I made.

Lets hope the new week ahead will be better.
Truth is like poetry. And most people f*cking hate poetry.
  • #4,355
  • Aug 26, 2018 12:43pm Aug 26, 2018 12:43pm
Quoting Iniezta
Hi, just found this discussion. Just my 2 cent, is it possible to put notification to this system? I mean when the setup is finding good moment for buy/sell, it will send notification to smartphone. So you can enjoy your day by only spending some minutes to analyze the notification.
None of the current indicators have any alerts so you have to watch the charts, however the EA will have alerts so you can receive notifications.
Truth is like poetry. And most people f*cking hate poetry.
  • #4,356
  • Aug 26, 2018 4:19pm Aug 26, 2018 4:19pm
hey Rainy88 any updates with these settings?

thanks, blam

Quoting Rainy88
{image} System is workin great, only thing missing I think is that EA should be able to set last swing as stop loss instead of a fixed amount of pips, in this case position sizing would be much more intelligent and it could have a % trailing profit function.
  • #4,357
  • Aug 26, 2018 10:18pm Aug 26, 2018 10:18pm
Quoting mrdfx
It was another roller-coaster week, and I had a few stops taken out a long the way. This week there were once again some strong trends with many pairs rejecting 61, 78 levels, and breaking through their S/R 100 levels. This is one of the weak points of the strategy unfortunately, and as it being a trend reversal base strategy in strong trends it can fail. We can never know if it is a strong trend until it breaks S/R 100, and in that case for me it signifies a strong trend, and that is why I don't trade past it. The only way to avoid big losses in...
Nice guidence..thanks..
Can you suggest any good MM?
James
  • #4,358
  • Aug 26, 2018 10:47pm Aug 26, 2018 10:47pm
i noticed all the pairs that had a strong trend and hit SL, did not break the 70 mark on stochastic, you can filter them if you add it to your screen.
  • #4,359
  • Aug 28, 2018 11:06am Aug 28, 2018 11:06am
Just confirmed a sell on CADJPY however I am seeing a pullback so I have set a pending sell order at 85.840 to catch it once/if it drops.

There are some strong trends and continuations again this week so I am being cautious about entries.
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Truth is like poetry. And most people f*cking hate poetry.
  • #4,360
  • Aug 28, 2018 2:24pm Aug 28, 2018 2:24pm
Just a suggestion.. maybe can backtest with a 20 moving average and see if that would help.. its a well known ma for swing traders.. in my humble opinion 10 is a bit tight.. i understand you will be not as early in the move anymore.. but maybe more consistent
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