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Simple and profitable trading style

  • #4,081
  • Jan 31, 2019 9:02am Jan 31, 2019 9:02am
Quoting menek
Ok I will stick with the main strategy for now. (Weekly and daily) 1. Let the weekly candle cross the middle line of the Bollinger band. 2. Let the candle break the upper or lower Bollinger band. I have notice that the Bollinger band will keep expanding to accommodate new candle making it difficult to identify the break of lower or upper band. The break will only become obvious when there is an opposite candle. Pls how do u handle this?
Install Simple Moving Average, Period 14, Shift 0 and I would be able to refer you to some charts
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #4,082
  • Jan 31, 2019 2:32pm Jan 31, 2019 2:32pm
Quoting 9jatrader
{quote} Install Simple Moving Average, Period 14, Shift 0 and I would be able to refer you to some charts
Ok. I have done that. can you refer me to those charts
  • #4,083
  • Jan 31, 2019 4:27pm Jan 31, 2019 4:27pm
Pls
  • #4,084
  • Jan 31, 2019 6:55pm Jan 31, 2019 6:55pm
Quoting menek
Pls
I will go through my journal on the ones that worked
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #4,085
  • Feb 1, 2019 9:10am Feb 1, 2019 9:10am
Quoting menek
{quote} Ok. I have done that. can you refer me to those charts
Daily charts: 24th January 2019 on EURCAD (short); 25th and 30th Jan, 2019 USDCAD (short); 3rd April, 2018 USDCAD(short); 16th Feb 2018 USDCAD(long); 7th March 2018 USDCHF(long);19th Dec 2018 NZDUSD (short). I think with the few ones you would know what I mean. As you continue to backtest it it would becomes used to you. Some would fail, I may fail I must say this. That's the reason no strategy is "Fool Proof" Keep the risk so now is our priority and know when the increase risk, specially when the account has moved far above the initial deposit

Do some home work also in checking some others in your charts
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #4,086
  • Feb 2, 2019 2:40am Feb 2, 2019 2:40am
Strong Shooting Star right below the upper band, 1hr on AUDNZD. This pair had been so boring on the daily. neither the long and short favours me for now. But the weekly Bearish Engulfing right below the SMA still not invalidated this week
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #4,087
  • Feb 2, 2019 3:04am Feb 2, 2019 3:04am
Is AUDCAD ready now to crash now? Broken consolidation support 0.957 and 0.956 have been retested. Though I have been bearish- but had been trapped on retracement. The last bearish candle and AUD news next week may finally crash it

The weekly middle band remains a great concern, the SMA had been broken below

I hope to add another position in another platform. I do not add /scale in on loosing positing
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #4,088
  • Feb 2, 2019 3:12am Feb 2, 2019 3:12am
Quoting 9jatrader
{quote} Daily charts: 24th January 2019 on EURCAD (short); 25th and 30th Jan, 2019 USDCAD (short); 3rd April, 2018 USDCAD(short); 16th Feb 2018 USDCAD(long); 7th March 2018 USDCHF(long);19th Dec 2018 NZDUSD (short). I think with the few ones you would know what I mean. As you continue to backtest it it would becomes used to you. Some would fail, I may fail I must say this. That's the reason no strategy is "Fool Proof" Keep the risk so now is our priority and know when the increase risk, specially when the account has moved far above the initial...
Additional one is the AUDCHF long,25th Jan. Am already out, using high lot.
Make all mistakes in demo and rain in pips in live account
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  • #4,089
  • Feb 2, 2019 3:19am Feb 2, 2019 3:19am
Quoting 9jatrader
{quote} Additional one is the AUDCHF long,25th Jan. Am already out, using high lot.
Weekly candle had strongly closed above the both SMA and middle band. I hope to wait to wait for bullish setup on the daily, above the SMA
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #4,090
  • Feb 2, 2019 3:35am Feb 2, 2019 3:35am
Quoting 9jatrader
EURCHF finally closed above the upper band. This pair got me so bored. Wait for the 4hr above the SMA after retracement {image}
Am out. The weekly finally closed above the middle band and SMA

Waiting for the daily SMA-based signal
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #4,091
  • Feb 2, 2019 3:39am Feb 2, 2019 3:39am
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...
Got out and then in again on the daily upper band. A bird in hand is worth more than a thousand in the bush
Make all mistakes in demo and rain in pips in live account
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  • #4,092
  • Feb 2, 2019 10:53am Feb 2, 2019 10:53am
According to the rules on the 1st page, I am to wait for candle to close above/below the middle line of the Bollinger band on the weekly chart. Then wait for candle to touch the upper/lower band on the daily chart then, take signal on the next dayday. Am I correct?
Attached Image(s) (click to enlarge)
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  • #4,093
  • Feb 2, 2019 10:59am Feb 2, 2019 10:59am
Quoting menek
According to the rules on the 1st page, I am to wait for candle to close above/below the middle line of the Bollinger band on the weekly chart. Then wait for candle to touch the upper/lower band on the daily chart then, take signal on the next dayday. Am I correct? {image} {image}
don't be angry, but this it doesn't work in the long run.
  • #4,094
  • Feb 2, 2019 11:17am Feb 2, 2019 11:17am
Quoting menek
According to the rules on the 1st page, I am to wait for candle to close above/below the middle line of the Bollinger band on the weekly chart. Then wait for candle to touch the upper/lower band on the daily chart then, take signal on the next dayday. Am I correct? {image} {image}
In using that strategy, yes. The daily only closed weakly on lower band, possibly because of Friday- profit taking by some traders. You have asked of how i use the SMA. You would observe that 4hr already moving, 46 pips for now since the Bearish Engulfing was formed on 31st Jan ( 4hr chart )
Attached Image (click to enlarge)
Click to Enlarge Name: eurcad.png Size: 44 KB
Make all mistakes in demo and rain in pips in live account
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  • #4,095
  • Feb 2, 2019 11:21am Feb 2, 2019 11:21am
Quoting tiborf71
{quote} don't be angry, but this it doesn't work in the long run.
All strategies do fail. That's the reason the word: No "Holy Grail in Forex". No strategy is fool proof, otherwise since your trading you should have been swimming in $$$
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #4,096
  • Feb 2, 2019 11:24am Feb 2, 2019 11:24am
I have said this is a single thread, but many strategies. When I started the thread the intention was to be only one strategy. In the course of the thread and backtesting I discovered I have to use other strategies to get something from the market
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #4,097
  • Feb 2, 2019 11:26am Feb 2, 2019 11:26am
I have found out the SMA have been great strategy and so use it to either get into new trend or follow the existing trend
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #4,098
  • Feb 2, 2019 11:31am Feb 2, 2019 11:31am
Quoting 9jatrader
{quote} All strategies do fail. That's the reason the word: No "Holy Grail in Forex". No strategy is fool proof, otherwise since your trading you should have been swimming in $$$
not all strategies are bad.
but good strategy is rare as the white raven.
  • #4,099
  • Feb 2, 2019 11:35am Feb 2, 2019 11:35am
Quoting tiborf71
{quote} not all strategies are bad. but good strategy is rare as the white raven.
If you have been trading, you would know that all strategies do fail- all signals do have the failure time, that keep questioning the straregy
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #4,100
  • Feb 2, 2019 11:41am Feb 2, 2019 11:41am
With all the downloads here and there which is fool proof. I started a thread here asking them if what they have been asking other traders to download is working, show TE, live or demo: https://www.forexfactory.com/showthread.php?t=875201
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
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