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Simple and profitable trading style

  • #4,261
  • Edited Mar 19, 2019 5:30am Mar 18, 2019 7:25am | Edited Mar 19, 2019 5:30am
Strong Hammer on CADCHF, 1hr. The great thing about the setup is the fact that it was able to close with bullish body and was supported by Bollinger Lower Band breakout
Make all mistakes in demo and rain in pips in live account
  • #4,262
  • Edited Mar 19, 2019 5:31am Mar 18, 2019 7:27am | Edited Mar 19, 2019 5:31am
Opposite is the case for EURCAD- strong Gravestone Doji. This would be able to crash the pair, no doubt
Make all mistakes in demo and rain in pips in live account
  • #4,263
  • Mar 18, 2019 7:57am Mar 18, 2019 7:57am
Quoting 9jatrader
Opposite is the case for CADCHF- strong Gravestone Doji. This would be able to crash the pair, no doubt
Do you set stop loss in your trades? What size is your risk per trade?
  • #4,264
  • Edited 8:45am Mar 18, 2019 8:31am | Edited 8:45am
Quoting MonkeyPlanet
{quote} Do you set stop loss in your trades? What size is your risk per trade?
Yes; without stop loss means being too generous to our brokers. I stay with smallest lot size as I build the account until the account has increased-after which I increase lot size gradually
Make all mistakes in demo and rain in pips in live account
  • #4,265
  • Mar 18, 2019 8:40am Mar 18, 2019 8:40am
Keeping eyes on USDCAD, 4hr above the middle band/SMA

If the current bullish candle closes well above middle band/SMA I would be in
Make all mistakes in demo and rain in pips in live account
  • #4,266
  • Edited 9:06am Mar 18, 2019 8:55am | Edited 9:06am
I continue to learn from different brokers on how they fill my order, demo or live. I have found that FXTM and IFC are notorious. They would would never fill the order at the right and current price. HotForex, FxOpen, Tradeview and Global Prime are great in taking the order at the right price
Make all mistakes in demo and rain in pips in live account
  • #4,267
  • Mar 18, 2019 9:24am Mar 18, 2019 9:24am
Waiting for AUDCAD and NZDCAD bears. Am out of my long
Make all mistakes in demo and rain in pips in live account
  • #4,268
  • Mar 18, 2019 10:40am Mar 18, 2019 10:40am
Quoting 9jatrader
Keeping eyes on USDCAD, 4hr above the middle band/SMA If the current bullish candle closes well above middle band/SMA I would be in
Finally joined the USDCAD bulls
Make all mistakes in demo and rain in pips in live account
  • #4,269
  • Mar 18, 2019 10:46am Mar 18, 2019 10:46am
You are late in USDCAD Bulls.... Quartly Piovt in front.
  • #4,270
  • Mar 18, 2019 10:55am Mar 18, 2019 10:55am
Quoting swagat555
You are late in USDCAD Bulls.... Quartly Piovt in front.
Am on 4hr. I do not know anything about pivot
Make all mistakes in demo and rain in pips in live account
  • #4,271
  • Mar 18, 2019 10:56am Mar 18, 2019 10:56am
I am in 4H as well. Hitting Q- Pivots.
  • #4,272
  • Mar 18, 2019 1:00pm Mar 18, 2019 1:00pm
Quoting swagat555
I am in 4H as well. Hitting Q- Pivots.
Did you see the Drop in USDCAD.... That's why told you wrong entry
  • #4,273
  • Mar 18, 2019 4:19pm Mar 18, 2019 4:19pm
Quoting swagat555
{quote} Did you see the Drop in USDCAD.... That's why told you wrong entry

You call 18 pips a drop? Then how much is your stop loss. I still remain in the trade
Make all mistakes in demo and rain in pips in live account
  • #4,274
  • Mar 18, 2019 4:28pm Mar 18, 2019 4:28pm
I was taught that trading with tight stop loss is equal to trading without stop loss. I have found it to be true
Make all mistakes in demo and rain in pips in live account
  • #4,275
  • Mar 18, 2019 4:34pm Mar 18, 2019 4:34pm
Quoting 9jatrader
Waiting for AUDCAD and NZDCAD bears. Am out of my long
Joined only the NZDCAD bears for now on 1hr
Make all mistakes in demo and rain in pips in live account
  • #4,276
  • Mar 18, 2019 4:38pm Mar 18, 2019 4:38pm
Scalping only 55 pips
Make all mistakes in demo and rain in pips in live account
  • #4,277
  • Mar 18, 2019 4:55pm Mar 18, 2019 4:55pm
Though not convincing anyone why it has higher probability that it works out well, here are some of the reasons it would work:
1.The SMA had been retested over and over and formed continuation above and below it- market with elipse
2. Price had also been moving sideways following the uptrend, until te bears broke below the support formed - the rectangular mark
Attached Image (click to enlarge)
Click to Enlarge Name: nzdcady.png Size: 49 KB
Make all mistakes in demo and rain in pips in live account
  • #4,278
  • Mar 18, 2019 4:59pm Mar 18, 2019 4:59pm
The strategy requires a deal of patience as in any other strategy. Look for the strong trending pairs

Allow/wait for SMA to be retested over and over until the SMA/middle band breakout is impressive
Make all mistakes in demo and rain in pips in live account
  • #4,279
  • Mar 18, 2019 5:05pm Mar 18, 2019 5:05pm
Am I fighting strong trend with this method? Certainly no. Just trying to catch the reversal at the right and early time
Make all mistakes in demo and rain in pips in live account
  • #4,280
  • Mar 19, 2019 1:08am Mar 19, 2019 1:08am
Quoting 9jatrader
Though not convincing anyone why it has higher probability that it works out well, here are some of the reasons it would work: 1.The SMA had been retested over and over and formed continuation above and below it- market with elipse 2. Price had also been moving sideways following the uptrend, until te bears broke below the support formed - the rectangular mark {image}
Finally I joined the AUDCAD bears and see how it goes
Make all mistakes in demo and rain in pips in live account
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