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Trading Made Simple

  • #94,221
  • Edited 6:04am Feb 21, 2019 5:14am | Edited 6:04am
Breakeven
Use or don't use, your choice.
If and when breakeven get's breached you can always reenter as long a entry rules are not breach
Like:
- Don't enter on bar 3 after crossover.
- M15 angle has not moved back to 1.
Attached Image
  • #94,222
  • Feb 21, 2019 5:39am Feb 21, 2019 5:39am
Quoting Pip-Miner
Has anyone put the thread owner rules into an ea and tested it ? I’m confident the results won’t be good long term.
Have tried.
The TDI crossover trigger order's when new bar begin's. In consolidation that will rip account to shred's.
Even tried to use the H1 crossover on M15.
- When M15 has crossed over H1 will either be late with (depending when M15 has crossover) 15, 30, 45min.
- Even the angle of H1 green does not work.
Set the expert to 2 degrees many false signal are used.
Set the expert to 1, it miss out on the signal's that are above 2.
- Can not do backtesting on MT4 with a MTF expert so it is a time consume project on live account.
  • #94,223
  • Feb 21, 2019 5:52am Feb 21, 2019 5:52am
Thank you, dear friends for the answer, it helps me to know your thoughts. It gives me pleasure to read them, they are so kind and talented. I am stimulated by your advice, I am going to learn more, you are a stimulus. Sorry for my English, I'm from Argentina, I speak Spanish. Thank you and I follow you attentively in all your notes. Keep going. I have a friend who says that those of us who speak Spanish seem like Messi speaking in English.
  • #94,224
  • Feb 21, 2019 6:02am Feb 21, 2019 6:02am
DE30 Feb 21 H1 clsoing .

Do this H1 closing look good for a trade in H1?

M15 is pulling back!

H4 still good to buy with Daily and Weekly supporting.

Attached Image (click to enlarge)
Click to Enlarge Name: DE30 Feb 21 H1 close 1958 21-02-2019 19-57-18.png Size: 80 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #94,225
  • Feb 21, 2019 6:05am Feb 21, 2019 6:05am
Quoting Christonly
{quote} Which indicator are you using, that draw S/R on your chart.. Can you share it please

I don't have any support and resistance indicator on my charts.

on which post do you see them?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #94,226
  • Feb 21, 2019 6:22am Feb 21, 2019 6:22am
Quoting Pip-Miner
Has anyone put the thread owner rules into an ea and tested it ? I’m confident the results won’t be good long term.

All his rules will grow tumours in the programmers brains.
TDI for entry and exit sounds too easy also easy to code in mql4.
12 -2 and 4-6 clock face angle, utter nonsense.
risking 15% to 30% of account in one single trade is easy to code but the quickest way to blow an account.

What did work out for trade entries was using his post below, but only with a few added on filters to pick only the best entry on Daily. Money management and position sizing is key. The forward tests results on Daily is positive using some filters and manual intervention is mandatory. Exit is a different story, do not follow his exit with TDI cross. Cannot be running as fully automated trading robot but run as trade manager with the trader making the key decision when to trade and when not to trade.
A lot of other stuff tested over the past 10 years.

Quoting eelfranz
I'm going to do a test on the Daily charts. When green crosses red I'll stay in until green crosses red again. I'll report the results in a week or so... I'll only enter if the candles are medium length or larger... wish me luck ...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #94,227
  • Feb 21, 2019 6:32am Feb 21, 2019 6:32am
Quoting emmanuel7788
DE30 Feb 21 H1 clsoing . Do this H1 closing look good for a trade in H1? M15 is pulling back! H4 still good to buy with Daily and Weekly supporting. {image}
Those line on the 15m TF
  • #94,228
  • Feb 21, 2019 6:36am Feb 21, 2019 6:36am
Quoting kain775
{quote} are you using fibs as support and resistance for your 5 bar swings like it said in the video you linked to? if not what are you using? how can you trade a h4 IB breakout on m15 when the new H4 bar hasn't fully formed yet [you don't have confirmation of the breakout by way of new h4 bar closing above the inside bar] price could very easily reverse the other way tbh i think likica takes them like that using one time frame only[m30]. but i thought you was a more conservative trader

Stopped using Fibs for quite many years. Just use eyeball the depth of retracements and the price momentum. Anything less than 30% is good to stay in the trend. If retracement reach 70% ... jump ship.

You can trade the IB in that timeframe of the IB alone as in the case of likica M30.

But using M15 to jump into a H4 IB breakout, you need to see the H4 momentum using the M15 details. When the M15 shows strong close at the top of the H4 IB High, and the pull back is shallow, that is what I look at and jump in at the next break of the H4 IB High. Follow the H4 Open High Low and Close. Look at the number of time of pull backs within a H4 period. Too many pull backs usually will fail. You will get the feel of the rhythm of the price movement.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #94,229
  • Feb 21, 2019 6:58am Feb 21, 2019 6:58am
Quoting Christonly
{quote} Those line on the 15m TF

those are the high low of the H4 period,

you will find them in these posts, two versions.

https://www.forexfactory.com/showthr...12#post6540312

https://www.forexfactory.com/showthr...33#post6541233
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #94,230
  • Feb 21, 2019 7:03am Feb 21, 2019 7:03am
Quoting emmanuel7788
{quote} those are the high low of the H4 period, you will find them in these posts, two versions. https://www.forexfactory.com/showthr...12#post6540312 https://www.forexfactory.com/showthr...33#post6541233
Thanks
  • #94,231
  • Feb 21, 2019 7:07am Feb 21, 2019 7:07am
Quoting emmanuel7788
{quote} Stopped using Fibs for quite many years. Just use eyeball the depth of retracements and the price momentum. Anything less than 30% is good to stay in the trend. If retracement reach 70% ... jump ship. You can trade the IB in that timeframe of the IB alone as in the case of likica M30. But using M15 to jump into a H4 IB breakout, you need to see the H4 momentum using the M15 details. When the M15 shows strong close at the top of the H4 IB High, and the pull back is shallow, that is what I look at and jump in at the next break of the H4 IB...

How are you measuring the trend retracements.

where exactly are you measuring from to determine this?
  • #94,232
  • Feb 21, 2019 7:11am Feb 21, 2019 7:11am
Quoting Pip-Miner
Has anyone put the thread owner rules into an ea and tested it ? I’m confident the results won’t be good long term.
In my tests, profit factor is only around 1.18-1.22. Its not worth the effort.
Trading thin liquidity at the boundary of the charts
  • #94,233
  • Edited 10:01am Feb 21, 2019 9:31am | Edited 10:01am
Quoting emmanuel7788
{quote} All his rules will grow tumours in the programmers brains. TDI for entry and exit sounds too easy also easy to code in mql4. 12 -2 and 4-6 clock face angle, utter nonsense. risking 15% to 30% of account in one single trade is easy to code but the quickest way to blow an account. What did work out for trade entries was using his post below, but only with a few added on filters to pick only the best entry on Daily. Money management and position sizing is key. The forward tests results on Daily is positive using some filters and manual intervention...
I only got reasonable results when I put his tdi rules as the initial entry for a grid system running on micro lots. Without the grid bad. But when I replaced his rules as the entry the results improved.
  • #94,234
  • Feb 21, 2019 2:11pm Feb 21, 2019 2:11pm
any DE30 M15 scalpers?

Not trading at this hour, just enjoying my morning coffee and turned on my computer screen.

saw the nice H4 made consecutive lower highs, lower lows after that last huge H4 bearish outside bar,

an alert scalper would have taken those two candles.

Attached Image (click to enlarge)
Click to Enlarge Name: DE30 Feb 21 M15 LH LL 22-02-2019 03-51-57.png Size: 45 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #94,235
  • Feb 21, 2019 2:40pm Feb 21, 2019 2:40pm
Quoting kain775
{quote} How are you measuring the trend retracements. where exactly are you measuring from to determine this?
I am very much a visual type trader and I look at each price move within a period when day trading.

Looking at H4 period movements, I pick the move from low to high or from high to low.

Below is an example, yesterday's DE30,

after a big H4 move, my past favourite is to pick a setup at Fib50 retracement.

but in strong 'trend' the retracement usually to 23% and 38%, and we often miss the entry at Fib50.
Attached Image (click to enlarge)
Click to Enlarge Name: H4 Fib entry example.png Size: 39 KB


But when I am swing trading, I look at the Weekly price patterns.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #94,236
  • Feb 21, 2019 4:33pm Feb 21, 2019 4:33pm
Quoting emmanuel7788
{quote} those are the high low of the H4 period, you will find them in these posts, two versions. https://www.forexfactory.com/showthr...12#post6540312 https://www.forexfactory.com/showthr...33#post6541233
Emmanuel, download the Hi Low indicator, but it does not work for me. It says it's an expired version or something similar. You have another.
  • #94,237
  • Feb 21, 2019 5:57pm Feb 21, 2019 5:57pm
Quoting asclepius67
{quote} Emmanuel, download the Hi Low indicator, but it does not work for me. It says it's an expired version or something similar. You have another.

OK. Post this later.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #94,238
  • Feb 21, 2019 6:03pm Feb 21, 2019 6:03pm
Quoting kain775
{quote} How are you measuring the trend retracements. where exactly are you measuring from to determine this?

Hi Kain,

Here is another example how I would use Fib tool.

Yesterday D1 closed a pull back candle, small but it happen at key Weekly resistance 11458 and also the Weekly WRB High has significane play this week, I want to see if this week will close above.

Attached Image (click to enlarge)
Click to Enlarge Name: DE30 Feb 22 D1 pull back close 22-02-2019 07-51-59.png Size: 23 KB


Now moving to our trading chart below, with the Fib levels drawn from the Feb 21 High to Low, we have several retracement levels to keep eyes on. There is also the Fib127 extension below, this was my favourite to keep watch at the price action should it move lower.

Attached Image (click to enlarge)
Click to Enlarge Name: DE30 Feb 21 high to Low Fib levels22-02-2019 07-55-08.png Size: 44 KB


I will explain later how I used Fib127 in the past for day trading.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #94,239
  • Feb 21, 2019 7:22pm Feb 21, 2019 7:22pm
DE30 M15 Tokyo 1020

if you are an all day scalper on M15,

I see H4 made lower highs, lower lows,...

and now wait for the reversal candle or classic TMS setup candle.

Attached Image (click to enlarge)
Click to Enlarge Name: DE30 Feb 22 M15 Tokyo 1019.png Size: 33 KB


its simple, right? No Stoch, no TDI.... you need confidence.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #94,240
  • Feb 21, 2019 7:35pm Feb 21, 2019 7:35pm
EURUSD Feb 22 M15 before Frankfurt Open,

Taking a quick look at EURUSD now, H4 has been sideways with no clear HH HL or LH LL,

if you study the price action and how an oscillator like the Stochastics made those swings between OB and OS level, you use that piece of information for scalping in M15. Follow the natural flow of the market....

there is a H4 Inside Bar which is an opportunity for trading later,

see how many times you can grab a quick 15 to 20 pips later today.... until there is a big move and let your profits run.

Note: today is Friday, so I do not open new 4H swing positions. I close them when London session closes.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD Feb 22 M15 22-02-2019 09-28-36.png Size: 56 KB


coming up next: '2BE or not 2BE'.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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