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Simple and profitable trading style

  • #3,981
  • Jan 27, 2019 12:38am Jan 27, 2019 12:38am
Quoting 9jatrader
{quote} No. I just have to go extra mile to learn to catch shorter TF setups I keep learning it.
serious learner
  • #3,982
  • Jan 27, 2019 2:52am Jan 27, 2019 2:52am
Quoting 9jatrader
What I do is this- I wait for bullish candle to move out of below the SMA and middle band, daily. Then wait for any bullish setup following retracement on the shorter TF
Just analyzed how it's working in CADJPY long position I caught 0n the 18th Jan. The weekly formed strong Hammer, supported by Bollinger Lower band breakout. Then the daily was still below the both the SMA and Middle Band. I got in when the daily was trading above both the SMA and Middle Band. Then I switched to any of the lower TF, 30mins, 1hr and 4hr to search for the ones that formed bullish setup immediately after bearish retracement. I caught it only on 30mins, though I was little late on 30mins. Here is the chart.
I keep working on it
Attached Image (click to enlarge)
Click to Enlarge Name: cadjpyff.png Size: 47 KB
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #3,983
  • Jan 27, 2019 2:56am Jan 27, 2019 2:56am
I strongly believe CADJPY has long journey up the mountain to climb with ease
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #3,984
  • Jan 27, 2019 2:59am Jan 27, 2019 2:59am
One point is that I use the longer TF to follow the movement and exit, because I may not be able to check lower TF charts every now and then to exit.
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #3,985
  • Jan 27, 2019 3:04am Jan 27, 2019 3:04am
Quoting 9jatrader
{quote} Just analyzed how it's working in CADJPY long position I caught 0n the 18th Jan. The weekly formed strong Hammer, supported by Bollinger Lower band breakout. Then the daily was still below the both the SMA and Middle Band. I got in when the daily was trading above both the SMA and Middle Band. Then I switched to any of the lower TF, 30mins, 1hr and 4hr to search for the ones that formed bullish setup immediately after bearish retracement. I caught it only on 30mins, though I was little late on 30mins. Here is the chart. I keep working on...
Opposite is the case for joining the bears

Using better lot size is great for this strategy. But when building account from scratch, we have to stay with small lot size
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #3,986
  • Jan 27, 2019 3:07am Jan 27, 2019 3:07am
Happy Sunday
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #3,987
  • Jan 27, 2019 3:41am Jan 27, 2019 3:41am
Quoting 9jatrader
One point is that I use the longer TF to follow the movement and exit, because I may not be able to check lower TF charts every now and then to exit.
But now you are using short time frames !
  • #3,988
  • Jan 27, 2019 3:52am Jan 27, 2019 3:52am
Quoting salimc
{quote} But now you are using short time frames !

Yes
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #3,989
  • Jan 27, 2019 5:46am Jan 27, 2019 5:46am
Quoting 9jatrader
{quote} Additional pairs are: AUDCHF (Long): Daily bullish candle above the SMA and Middle Band AUDNZD (Short): Weekly Bearish Engulfing right below the SMA, 30mins Shooting Star AUDUSD (Long): Daily Bullish Engulfing which was closed above both the SMA and Middle Band There was already strong Hammer earlier on he daily also. This has not completed its job CADCHF (Long): Bullish engulfing right above the daily SMA EURCAD (Short): Confirmation of Bearish Engulfing right below the SMA daily I will be using this post to follow up my trade
EURNZD made another SMA-based bearish setup on the weekly- Bearish Engulfing below it
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #3,990
  • Jan 27, 2019 10:52am Jan 27, 2019 10:52am
Quoting 9jatrader
{quote} EURNZD made another SMA-based bearish setup on the weekly- Bearish Engulfing below it
But it is already in Support Zone. Are you waiting to go long next week?
  • #3,991
  • Jan 27, 2019 10:54am Jan 27, 2019 10:54am
what a nice trading thread...i'm still learning your forex trading strategy...
  • #3,992
  • Jan 27, 2019 11:03am Jan 27, 2019 11:03am
my idea
Attached Image (click to enlarge)
Click to Enlarge Name: EURNZDH4.png Size: 91 KB
  • #3,993
  • Jan 27, 2019 12:15pm Jan 27, 2019 12:15pm
Quoting JimmieKip
what a nice trading thread...i'm still learning your forex trading strategy...
You are welcome
  • #3,994
  • Jan 27, 2019 12:20pm Jan 27, 2019 12:20pm
Quoting kette
my idea {image}
  • #3,995
  • Jan 27, 2019 3:10pm Jan 27, 2019 3:10pm
Quoting salimc
{quote} But it is already in Support Zone. Are you waiting to go long next week?
New short position
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #3,996
  • Jan 27, 2019 3:14pm Jan 27, 2019 3:14pm
Quoting kette
my idea {image}
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #3,997
  • Jan 27, 2019 3:15pm Jan 27, 2019 3:15pm
Quoting JimmieKip
what a nice trading thread...i'm still learning your forex trading strategy...
We welcome you.You can install SMA in your chart, Period: 14, Shift:0
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #3,998
  • Jan 27, 2019 3:20pm Jan 27, 2019 3:20pm
Quoting 9jatrader
{quote} New short position
Its Monday so be careful. Best of luck
  • #3,999
  • Jan 27, 2019 3:22pm Jan 27, 2019 3:22pm
Quoting salimc
{quote} Its Monday so be careful. Best of luck

Okay
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #4,000
  • Jan 27, 2019 4:05pm Jan 27, 2019 4:05pm
Quoting 9jatrader
What I do is this- I wait for bullish candle to move out of below the SMA and middle band, daily. Then wait for any bullish setup following retracement on the shorter TF

I learned a bitter lesson for not waiting for the daily candle to close above the middle band with this strategy. It only closed above the SMA only on 22nd Jan. what happened next? Middle band intercepted it on 23rd and 24th and the last candle formed strong bearish engulfing right below both the SMA and Middle Band. I was ambushed on the long positions because of my impatience and also against the trend
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
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