Simple and profitable trading style | Page 162 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

NZD/JPY, USD/JPY

Similar Threads

Trading Made Very Simple and Profitable instructions 33 replies

The right thinking of the profitable trading in 3 simple steps. 14 replies

Indonesian Trader style - make trading simple 1 reply

Your consistently profitable trading style 37 replies

Gio's simple profitable trading quest 6 replies

Attachments: Simple and profitable trading style
Exit Attachments

Simple and profitable trading style

  • #3,221
  • Oct 9, 2018 1:35pm Oct 9, 2018 1:35pm
I got in when the high price of the bearish candle was broken
Trade safe
Make all mistakes in demo and rain in pips in live account
  • #3,222
  • Oct 9, 2018 1:38pm Oct 9, 2018 1:38pm
For GBPJPY, though I remain bearish and had been short, if it breaks above the resistance formed by the bearish engulfing I have no option than to join the bulls
Make all mistakes in demo and rain in pips in live account
  • #3,223
  • Oct 9, 2018 2:13pm Oct 9, 2018 2:13pm
Later I will share with you how to hedge your position when price is strongly ready to go against your positions. Still on backtesting. The last pair for backtest was NZDJPY long and short. You would lost in one position and profit in two positions

The next position for backtesting is the current and running EURAUD. I have already lost in one position, while two positions are running in profit in short positions.

The hedging strategy would be great when "Breakout" turns "Fakeout". With the strategy you don't need to panic if it happens that way
Make all mistakes in demo and rain in pips in live account
  • #3,224
  • Oct 10, 2018 1:43am Oct 10, 2018 1:43am
Quoting 9jatrader
It's been a long time since I uploaded my charts. This time I would upload some charts because of my new strategy and finding The strategy has to do with breakouts. Some breakouts can really kill account when it turns out to be Fakeout The great strategy is when a strong resistance of Bearish Engulfing or strong support of Bullish Engulfing is broken. Here are some charts as the say a picture is worth more than a thousand words {image} {image} {image} {image}
From time to time I would be quoting the above post when setup is about to be formed based on the strategy. This would save me from posting charts on different pairs in focus, The next in focus is the GBPUSD. Check your chart. You would see that Bearish Engulfing has been formed before now on the pair. It's going to be make or break.
Make all mistakes in demo and rain in pips in live account
  • #3,225
  • Oct 10, 2018 1:50am Oct 10, 2018 1:50am
Quoting 9jatrader
{quote} Here is another chart of the pair I was able to catch since the strategy backtest/backcheck {image}
As EURGBP continues crashing GBPCHF continues flying and decided to still leave it open, though it's already above Fibonacci level 61.8%
Make all mistakes in demo and rain in pips in live account
  • #3,226
  • Oct 10, 2018 1:52am Oct 10, 2018 1:52am
For those who have been following the thread I said most often reversal takes place between Fibo 100.0% and 61.8%

And so am keeping my eagle eyes on them in case I see any sign of reversal or retracement before take profit triggered
Make all mistakes in demo and rain in pips in live account
  • #3,227
  • Oct 10, 2018 2:08am Oct 10, 2018 2:08am
Quoting 9jatrader
Later I will share with you how to hedge your position when price is strongly ready to go against your positions. Still on backtesting. The last pair for backtest was NZDJPY long and short. You would lost in one position and profit in two positions The next position for backtesting is the current and running EURAUD. I have already lost in one position, while two positions are running in profit in short positions. The hedging strategy would be great when "Breakout" turns "Fakeout". With the strategy you don't need to panic if it happens that way
Possibly before take profit is triggered or close it manually I would share the EURAUD hedging. Don't try it first on live account. Practice over and over on demo before taking to live account. I don't fear when price is set to go against me strongly
Make all mistakes in demo and rain in pips in live account
  • #3,228
  • Oct 10, 2018 2:12am Oct 10, 2018 2:12am
I have used it on live account when there was a big drawdown. Account is gradually building up now. AM GBPAUD long on live account. It was ready to go against me, but not strongly. And so no hedging strategy is applied yet on GBPAUD
Make all mistakes in demo and rain in pips in live account
  • #3,229
  • Oct 10, 2018 2:15am Oct 10, 2018 2:15am
With hedging strategy, " Do not have many open positions" otherwise you loose control when trying to hedge all when they are going against you. Keep to one position, except the previous positions have given opportunity to move your stop loss to breakeven
Make all mistakes in demo and rain in pips in live account
  • #3,230
  • Oct 10, 2018 9:21am Oct 10, 2018 9:21am
Quoting 9jatrader
It's been a long time since I uploaded my charts. This time I would upload some charts because of my new strategy and finding The strategy has to do with breakouts. Some breakouts can really kill account when it turns out to be Fakeout The great strategy is when a strong resistance of Bearish Engulfing or strong support of Bullish Engulfing is broken. Here are some charts as the say a picture is worth more than a thousand words {image} {image} {image} {image}

While the following pairs have been used for backtest,NZDJPY, GBPAUD, CADCHF, CADJPY, EURAUD,GBPJPY, EURJPY, the following remain strong on the watch list: GBPCAD, GBPUSD ,AUDNZD, EURAUD
Make all mistakes in demo and rain in pips in live account
  • #3,231
  • Oct 10, 2018 9:26am Oct 10, 2018 9:26am
Hope to share the charts when they form
Make all mistakes in demo and rain in pips in live account
  • #3,232
  • Oct 10, 2018 10:24am Oct 10, 2018 10:24am
Nice work Brother!!
  • #3,233
  • Oct 10, 2018 1:07pm Oct 10, 2018 1:07pm
Quoting rookie14
Nice work Brother!!
Thanks
Make all mistakes in demo and rain in pips in live account
  • #3,234
  • Oct 10, 2018 3:46pm Oct 10, 2018 3:46pm
NZDJPY is ready to crash further. Am already out in live account
Make all mistakes in demo and rain in pips in live account
  • #3,235
  • Oct 10, 2018 4:37pm Oct 10, 2018 4:37pm
Quoting 9jatrader
{quote} While the following pairs have been used for backtest,NZDJPY, GBPAUD, CADCHF, CADJPY, EURAUD,GBPJPY, EURJPY, the following remain strong on the watch list: GBPCAD, GBPUSD ,AUDNZD, EURAUD
GBPCAD had broken the resistance formed by Bearish Engulfing Pattern- the new strategy I introduced
Make all mistakes in demo and rain in pips in live account
  • #3,236
  • Oct 10, 2018 4:40pm Oct 10, 2018 4:40pm
Good night
Make all mistakes in demo and rain in pips in live account
  • #3,237
  • Oct 10, 2018 4:59pm Oct 10, 2018 4:59pm
Strong signal formed last week on CADJPY has broken the broken resistance ( now broken support )formed by Bearish Engulfing Pattern- our new strategy here.
Make all mistakes in demo and rain in pips in live account
  • #3,238
  • Oct 10, 2018 5:02pm Oct 10, 2018 5:02pm
AUDNZD had formed third strong bearish setup. I was in it in live account, but refused to crash. And so had to close almost at breakeven. Am already GBPAUD on live account- so I can't take it to live but demo.
Make all mistakes in demo and rain in pips in live account
  • #3,239
  • Oct 12, 2018 5:02am Oct 12, 2018 5:02am
Explosive trading awaits AUDNZD. It's currently forming strong Bollinger Bands Squeeze.
Make all mistakes in demo and rain in pips in live account
  • #3,240
  • Oct 12, 2018 2:18pm Oct 12, 2018 2:18pm
Quoting 9jatrader
It's been a long time since I uploaded my charts. This time I would upload some charts because of my new strategy and finding The strategy has to do with breakouts. Some breakouts can really kill account when it turns out to be Fakeout The great strategy is when a strong resistance of Bearish Engulfing or strong support of Bullish Engulfing is broken. Here are some charts as the say a picture is worth more than a thousand words {image} {image} {image} {image}
GBPUSD is unable to break the Bearish Engulfing; so Bearish Engulfing being formed right below it again. The bears are set to take it down again, over 200 pips

Quoting 9jatrader
{quote} From time to time I would be quoting the above post when setup is about to be formed based on the strategy. This would save me from posting charts on different pairs in focus, The next in focus is the GBPUSD. Check your chart. You would see that Bearish Engulfing has been formed before now on the pair. It's going to be make or break.
Here was the beginning of the focus
Make all mistakes in demo and rain in pips in live account
3 traders viewing now