{quote} Target hit {image}
Emotion - it steals your money.
Easiest trading strategy on the planet!
{quote} I pretty much only trade the GBPUSD at the NY open on the 5 minute chart. I like this pair because it has decent moves and a low spread. I don't care to watch multiple pairs and I don't think it is necessary. The GBPUSD moves plenty enough to make some good money with the right strategy. I would do the EURUSD but it doesn't move quite as well as the GBPUSD. I have looked at the GBPAUD but it can get right out of control at times but, man, when it moves it moves! With this particular strategy I am finding that the times frames higher than...
Thank you
{quote} I pretty much only trade the GBPUSD at the NY open on the 5 minute chart. I like this pair because it has decent moves and a low spread. I don't care to watch multiple pairs and I don't think it is necessary. The GBPUSD moves plenty enough to make some good money with the right strategy. I would do the EURUSD but it doesn't move quite as well as the GBPUSD. I have looked at the GBPAUD but it can get right out of control at times but, man, when it moves it moves! With this particular strategy I am finding that the times frames higher than...
{quote} By restricting your self to trading just one pair & on one time frame your odds of success sky rocket compared to jumping from one chart to another. You've also noticed that one losing entry tends to constantly win in the opposite direction. Personally the road your on I wouldn't change a thing
Emotion - it steals your money.
{quote} Totally...those are my exact observations over the years. Now the trick is to stop getting bored and system hop and tinker with what, so far, is not broken! I am sooooo guilty of over trading, tinkering with a system to make it "better" and reading forums and I can't ever settle on one strategy or pair and work the shit out of it.
Well that was a quick one! Just sat down for the New York open and placed a pending buy order possibly a little prematurely I admit. The Hull was red and turning down where I have the dashed white line so I placed a pending buy order at that point. Then after those three red HA candles...boom! Up she goes. So that's my winning trade for the day 16.8% added to account (yes, I trade aggressively 1 pip=0.5% to 1% depending on the stop loss distance) now I can go hang out on the roof top pool with my morning coffee{image}
Winners add to winning trades!
- #93
- Edited 3:53pm Feb 12, 2019 3:39pm | Edited 3:53pm
{quote} Beautiful. Very risky trade but worked out for you. I'm not sure I could take it as to me it could just as easily fallen the other direction. Is there anything else you can tip us on as to why you were confident it would move like it did or were you just lucky?
For every reason TO enter a trade there are reasons NOT to enter a trade. There is nothing in the world that I have found that can accurately predict the direction OR the distance a trade will go. This strategy is simply trading the break of the average high/low swings as determined by the Hull MA. We have no idea if the move will continue in our favour or for how long or simply bounce off that level and reverse Nothing tipped me about this trade...I simply followed my rules. I had a pending sell order placed just below the 1.28500 price where the latest Hull swing was (see yellow arrow pointing to the area). Pretty weak swing, I'll admit, but I'm eager
I could have used the two earlier swings but I think I prefer to use the most recent. I certainly placed this particular buy stop on the early side of things as the Hull was red and moving down which I assumed was a new swing point but as soon as 8:00 AM hit, up shot the price! If price had gone down I would have caught the move with my sell stop order and I would have placed a buy stop above that higher swing in case price decided to bounce off the 1.28500 level and head for the 1.29000 level.If you look through the charts on the 5 minute GBPUSD you will often find nice moves at the NY open that break the most recent Hull swings in the London session. Those moves easily reach the nearest 25 pip or 50 pip round number price which is where I take profit as that just makes sense to me a as reasonable target that price will attempt to hit before deciding what it wants to do next. I had my TP set a little above the 25 pip round number simply because it had been breached earlier so I figured it would likely get breached again so I set my TP at 15 pips instead of the yellow dotted line (25 pip round number level) like I usually would. I think if my entry is less than 8-10 pips away from the 25 level I will endeavour to hit the 50 level. That may or may not work in my favour - who knows
This particular move did go on to hit the 1.29000 level later on after the London close...would have been a nice 35 pips 
Emotion - it steals your money.
{quote} I had a pending sell order placed just below the 1.28500 price where the latest Hull swing was (see yellow arrow pointing to the area). Pretty weak swing, I'll admit, but I'm eager
I read your post and it mentions a SELL order under the most recent low HMA swing which makes sense but then price took you into a long position so I am guessing you have an order on both sides of the recent structure in time for US Open to move in either direction?
Winners add to winning trades!
Took this trade yesterday AFTER UK Open as candle closed below most recent swing low. Used a trailing stop to lock in profit as it succeeds but turns out to be a dud. I accept not all set ups work out but did I miss something here as currently I am only 4 from 10 trades but suspect I should be a lot higher than that by now?
Another one taken as most recent low was closed below. This time the trailing stop locked in enough profit to bring almost to BE luckily although I think I got in too late and my TP of 1R would have been hit.
Another one taken as most recent low was closed below. This time the trailing stop locked in enough profit to bring almost to BE luckily although I think I got in too late and my TP of 1R would have been hit.
Winners add to winning trades!
{quote} So are you saying you add a buy and a sell order above and below the most recent swings? I read your post and it mentions a SELL order under the most recent low HMA swing which makes sense but then price took you into a long position so I am guessing you have an order on both sides of the recent structure in time for US Open to move in either direction?
Emotion - it steals your money.
Took this trade yesterday AFTER UK Open as candle closed below most recent swing low. Used a trailing stop to lock in profit as it succeeds but turns out to be a dud. I accept not all set ups work out but did I miss something here as currently I am only 4 from 10 trades but suspect I should be a lot higher than that by now? {image} Another one taken as most recent low was closed below. This time the trailing stop locked in enough profit to bring almost to BE luckily although I think I got in too late and my TP of 1R would have been hit. {image}
You could have taken another sell and it would have been a loss it looks like but the long would have been a winner for sure.Man, I miss cTrader
Emotion - it steals your money.
{quote} Hi still learning but isnt the line you drew for the divergence on the histogram pointing down not up? Is this not bearish in nature?
Check this out:
