I always try to trade divergence, but it’s seem when it’s good time to entry, my psychology can’t handle it and have a bad trades.
Easiest trading strategy on the planet!
{quote} Its an 85 period EMA which I saw on one of the OPs posts. I use it as a quick bias in line with the MACD signal line so if both are down then I look for shorts only. Probably not really relevant but I am yet to fully assess it. I think it may help to avoid those small moves on the wrong side of the MACD 0 line.
- #48
- Feb 7, 2019 3:58am Feb 7, 2019 3:58am
- Joined Aug 2011 | Status: Mos P from Cape to Cairo | 2,712 Posts
Let it turn and find your entry.
This strategy looks very interesting. I have been playing around with it for the last few days. Here is a trade I just made for +16 pips and that will be it for me for the day - this added 13.43% to the account and I am up 49.91% for the week. I follow the rules except I have lines placed at 25 pip intervals on the round numbers and I simply take profit at the nearest 25 pip level once the peak of the HMA is broken with a pending stop order. If the peak of the HMA is too close (i.e. less than 7-8 pips) to the 25 pip level I will target the next level. I was thinking about trying to ride to the 50 pip levels but so often price reaches the 25 pip level and then reverses...never making it to that 50 pip level. I have learned to not be greedy so I will take the nearest 25 pip level. So far so good 
Edit...20 minutes later this trade did make it to the 50 pip level! Oh well
Edit...20 minutes later this trade did make it to the 50 pip level! Oh well
Emotion - it steals your money.
while looking for reversal trades using your divergence wave strategy (main focus), i found these ones staring at me, so i jumped to this thread to share them, they may turn ok USDCAD M5 {image} EURCAD M15 {image}
USDCAD M5 (win)
EURCAD M15 (win)
- #55
- Edited 3:28pm Feb 8, 2019 12:30pm | Edited 3:28pm
First trade was a loss. The trade was triggered with a pending order vs. waiting for the candle to close above the level. I am of a mixed opinion on this - I'll have to keep watch on how many bad trades the pending orders get me into. The second trade went well but the EA I use to manage trades prematurely closed my position before the 1.29250 level which it looks like as of 1:30 PM will likely get hit. That would have been a nice 30 pips - not happy about that 
Oh well. 1.73% for the day and 51.65% for the week with this strategy.
Oh well. 1.73% for the day and 51.65% for the week with this strategy.
Emotion - it steals your money.
First trade was a loss. The trade was triggered with a pending order vs. waiting for the candle to close above the level. I am of a mixed opinion on this - I'll have to keep watch on how many bad trades the pending orders get me into. The second trade went well but the EA I use to manage trades closed my position before the 1.29250 level which it looks like as of 1:30 PM will likely get hit. That would have been a nice 30 pips - not happy about that. Oh well. 1.73% for the day and 51.65% for the week with this strategy. {image}
As you get comfortable you can then start to employ extra filters an/or rules into the strategy https://www.forexfactory.com/showthread.php?t=877044
- #57
- Edited 6:22am Feb 9, 2019 6:06am | Edited 6:22am
{quote} Don't see why not let us know how you get on
Looks promising
link to mean renko bars & remote for controls on offline charts
https://ovo.cz/products/offline-char...an-renko-bars/
https://ovo.cz/products/free-mt4-uti.../omnia-remote/
this is the risk reward tool I use... it's pretty awesome
https://www.investsoft.eu/risk-reward-ratio-tool.html
https://www.investsoft.eu/risk-reward-ratio-tool.html
Inserted Video
- #59
- Feb 9, 2019 11:01am Feb 9, 2019 11:01am
- Joined Aug 2011 | Status: Mos P from Cape to Cairo | 2,712 Posts
{file}{file} {quote} I have used this setup before but without employing the macD signal line zero cross Looks promising
Thanks for sharing, please what are the values for the HMAs on the charts and I'm supposing that's a 20pips mean Renko chart?
I started employing the MACD Zero line crossing and it's weeding out some loosing entries. Still working on it though I have decided to stick with the Point O charts.
Thanks for pointing me in the Zero cross direction I was reluctant before saying it's always a late entry.
Let it turn and find your entry.