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A very simple system - trade with arrow

  • #4,801
  • Jan 19, 2019 2:33pm Jan 19, 2019 2:33pm
Quoting pips29
{quote} Thks, I am just applying the method which is simple and rewarding. There is no need for other indicators which will only complicate and just trade the chart in front of you..There are traders who always try to be smarter than the charts and by doing so they inevitably end up in huge dd which is trading they claim..it needn't has to be so
I traded this method. And I did not have much success. When I watch your graphics, I am surprised. How do you do it ?! Why do 90% of your transactions bring you profit? How do you use the basement indicator. Could you say (or indicate if you previously wrote here) a step-by-step plan for your trading?
1,
2,
3,
Thanks anyway.
Trading has been and always will be, a hard way to make an easy living.
  • #4,802
  • Jan 19, 2019 2:40pm Jan 19, 2019 2:40pm
subscribed
  • #4,803
  • Jan 19, 2019 3:21pm Jan 19, 2019 3:21pm
Quoting Boobligoom
{quote} I traded this method. And I did not have much success. When I watch your graphics, I am surprised. How do you do it ?! Why do 90% of your transactions bring you profit? How do you use the basement indicator. Could you say (or indicate if you previously wrote here) a step-by-step plan for your trading? 1, 2, 3, Thanks anyway.
Please post your charts showing entries and exits.I can't see where you went wrong without a chart. I have been asking you guys to post charts so that we can learn from each other but no one did. It's more important you find out what you did wrong than what I did right
the cautious seldom err....C
  • #4,804
  • Jan 19, 2019 7:28pm Jan 19, 2019 7:28pm
Hi Eric,
Charts are 15 minute trades I took on Wednesday.
Can you take a look and point out any errors please and let me know what you think?
Stops were hit on both trades.
I am generally up each week but struggled this week to find a good entry.

Attached Image (click to enlarge)
Click to Enlarge Name: EU 15m.png Size: 40 KB


Attached Image (click to enlarge)
Click to Enlarge Name: UC 15m.png Size: 40 KB



I have been trying to work out your entries however there does not seem to be a set method that I can see.

Regards
Rob
Your trade order needs to be in the right place at the right time.
  • #4,805
  • Jan 19, 2019 7:32pm Jan 19, 2019 7:32pm
Can you comment on why GB Pairs and CAD qualified for shorting on Friday?
Was it anything to do with higher time frame PA?
Your trade order needs to be in the right place at the right time.
  • #4,806
  • Jan 20, 2019 8:25am Jan 20, 2019 8:25am
Quoting Islandfx911
Hi Eric, Charts are 15 minute trades I took on Wednesday. Can you take a look and point out any errors please and let me know what you think? Stops were hit on both trades. I am generally up each week but struggled this week to find a good entry. {image} {image} I have been trying to work out your entries however there does not seem to be a set method that I can see. Regards Rob
I don't know how or where you put your stop..My stop would be a few pips above the recent high and I would not have been stopped out..The stop is about 40 pips and that's no big deal for me..We must always find a stop where it's least likely to be hit and if hit then we shouldn't be in the trade anyway..what you lost on this trade you will get it back with bonus very soon..I have this attitude that when I lose today I will get it back with bonus the next day
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM15.png Size: 65 KB
the cautious seldom err....C
  • #4,807
  • Jan 20, 2019 8:32am Jan 20, 2019 8:32am
The loonie trade you took I believe was when Europe opened or before London opened..I can't help you with this trade as I don't trade at that time..My trading normally starts after London has opened for at least an hour..In fact later on the same day I took a short and was successful with some pips..The loonie normally becomes active coming closer and during the US session
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADM15.png Size: 81 KB
the cautious seldom err....C
  • #4,808
  • Jan 20, 2019 8:48am Jan 20, 2019 8:48am
Quoting Islandfx911
Can you comment on why GB Pairs and CAD qualified for shorting on Friday? Was it anything to do with higher time frame PA?
I did not short the Cad. I was shorting the pound which was weak across the board..you will notice I did not short cable and dragon last Friday but shorted the pound against cad,aud,eur,nzd and chf..I was actually waiting for cable to break and trade below the s/r level on my chart but price was just hanging around that level before falling. I was not there when it started to fall and as for the dragon price was having difficulty trading below the pivot and so... I was not involved with cable and the dragon this time round..I was just choosing the best options and even though I have not traded Gbp/Chf before it was the option I took ahead of cable and the dragon as it conformed to what I wanted to see before taking the entry and I am glad I did that.I still have 20% left on this trade
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPUSDH4.png Size: 77 KB
Click to Enlarge Name: GBPUSDM15.png Size: 69 KB
Click to Enlarge Name: GBPJPYM15.png Size: 60 KB
the cautious seldom err....C
  • #4,809
  • Jan 20, 2019 5:23pm Jan 20, 2019 5:23pm
Quoting pips29
{quote} I don't know how or where you put your stop..My stop would be a few pips above the recent high and I would not have been stopped out..The stop is about 40 pips and that's no big deal for me..We must always find a stop where it's least likely to be hit and if hit then we shouldn't be in the trade anyway..what you lost on this trade you will get it back with bonus very soon..I have this attitude that when I lose today I will get it back with bonus the next day {image}
Hi Eric,

My stops are usually tight which has been working for the last 4 months however, the market condition has recently changed resulting in more of my stops being hit.
I'll move stops further away this week and see how it goes.
Your trade order needs to be in the right place at the right time.
  • #4,810
  • Jan 20, 2019 5:26pm Jan 20, 2019 5:26pm
Quoting Islandfx911
{quote} Hi Eric, My stops are usually tight which has been working for the last 4 months however, the market condition has recently changed resulting in more of my stops being hit. I'll move stops further away this week and see how it goes.
Perhaps you should trade the 5 min or 1 min chart with tight stop
the cautious seldom err....C
  • #4,811
  • Jan 20, 2019 5:28pm Jan 20, 2019 5:28pm
Quoting pips29
The loonie trade you took I believe was when Europe opened or before London opened..I can't help you with this trade as I don't trade at that time..My trading normally starts after London has opened for at least an hour..In fact later on the same day I took a short and was successful with some pips..The loonie normally becomes active coming closer and during the US session {image}
Loonie trade was opened before London open with a stop above the entry bar.
I have had a few good trades around this time so placed the trade as usual.
I will wait until the market has opened each day before placing trades.
Thanks again for the comments.
Your trade order needs to be in the right place at the right time.
  • #4,812
  • Jan 20, 2019 5:31pm Jan 20, 2019 5:31pm
Quoting pips29
{quote} Perhaps you should trade the 5 min or 1 min chart with tight stop
I'll stick with 15 minute charts. I'm not confident using lower time frames.
Your trade order needs to be in the right place at the right time.
  • #4,813
  • Jan 20, 2019 5:37pm Jan 20, 2019 5:37pm
I guess your stop is around 10 pips which is what Stevepatt uses and he's trading the 1 min chart..I honestly feel a stop of 10 pips for trading the 15 min chart requires you to be correct from the start with almost no room for a not so precise entry..I have mentioned before I don't mind getting in the trade later as long as I'm correct in the direction..anyway do what you feel comfortable ,everyone of us have a different mindset..it's all good
the cautious seldom err....C
  • #4,814
  • Jan 20, 2019 5:44pm Jan 20, 2019 5:44pm
Quoting pips29
After missing my target by 4 pips and just before market close I moved the target much lower.. {image}
I have just set a stop now as spreads are back to almost normal...
Attached Image (click to enlarge)
Click to Enlarge Name: GBPCHFM15.png Size: 63 KB
the cautious seldom err....C
  • #4,815
  • Jan 21, 2019 3:34am Jan 21, 2019 3:34am
My workday begins now and as soon as I log in I saw this and took the trade. I did put in a sell limit before going to bed at a higher price
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM15.png Size: 56 KB
the cautious seldom err....C
  • #4,816
  • Jan 21, 2019 3:46am Jan 21, 2019 3:46am
Quoting fxtrain
Hi Pip29! You are a great trader. I am trying to learn from you. I am long on GN. Would you have taken thiz trade? Iz thiz a good trade? thankz {image}
The trade was good for 20 odd pips and I hope you came out in green. It's in line with the method, indicator wise, but I couldn't have taken this trade for I was asleep. The method is more suited for active session rather than a "rangy" one which Asian session is all about..trading pound pairs is riskier than other pairs at the present situation and you have to be more diligent
the cautious seldom err....C
  • #4,817
  • Jan 21, 2019 3:48am Jan 21, 2019 3:48am
just gone short cable
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM15.png Size: 55 KB
the cautious seldom err....C
  • #4,818
  • Jan 21, 2019 7:09am Jan 21, 2019 7:09am
in some dd with cable...looking like a bull trap to me...in any case ,as long as price is trading below today's pivot I'll remain short
the cautious seldom err....C
  • #4,819
  • Jan 21, 2019 7:30am Jan 21, 2019 7:30am
EU..... the volume is slow...
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM15.png Size: 59 KB
Do it like a Fool
  • #4,820
  • Jan 21, 2019 8:28am Jan 21, 2019 8:28am
Quoting Foolsgame
EU..... the volume is slow... {image}
nothing much has changed since I went for a walk...yes, when it's slow we do the slow waltz
Inserted Video
the cautious seldom err....C
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