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EURUSD only

Quoting Pagh
{quote} Moty your habit of constantly trying to make predictions is so unhealthy and counterproductive ... I really wonder if you listen to anything people tell you here, or if you just ignore it and tunnelvision what you think is the way to approach your trading.


Couldn’t be more than true

Quoting Pagh
{quote} Why would you like him to stay? Sure he makes alot of posts, but they have no substance and only represent a bad strategy and a narrow minded individual, so how much value does his posts actually bring? He's stubborness blocks his view and makes him believe that he is right and everybody else are wrong. I cant help to believe that this guy is doing just as bad outside of trading as he is in trading. Man i gotta stop these negative posts, but i think this one is justified and pretty fair. Its the truth afterall.


What you said reflects all my opinion and I fully agree with you.

This is so true. I have been criticizing him ever since August 2018. Initially I tried to give some good advise but his ignorance continue overshadowing him. I left the FF forum since then until I come back recently only to find out Moty has been removed from this thread.

If I would to describe Moty, I will not hesitate to say he is a newbie, to least. Most of his postings are “right to what he thinks is right” without any reasonable explanation & analysis. Every trade seems like certainty for him. Some are unnecessary, some are just plain spam. It appeared to have create annoyance over the time.

Quoting Moty
{quote} Another one bite the ignored dust. At the end i will only see digger and ata and engweijie massages. Sometime I wonder why i make an effort for this thread


See the problem here? Nobody ask, request or force you Moty to make effort for Ata’s thread. Is it jealousy or just trying to show off? I have no comment on this.

Quoting Ata-Turkoglu
{quote} I agree.. Again I don't care if he stays or goes.. I care for quality posts.. So best solution for this is to let democracy speak.. that's all.. Stay Green


I’m also in here for quality posts. +1

Now the dust has been settled and let’s continue posting quality EU discussion threads here.

Cheers.
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Hi everyone, hope we’re all having a pleasant weekend.

I waited for the weekend to discuss this because I didn’t want to derail the live discussions when the market is open, but I’ve been experimenting with a theory of mine and I need some help to refine it because it is VERY ELEMENTARY and crude at this given moment.

Basically the gist of it is using the average weekly range to scalp both directions.

Current averages:

Quarterly - 138 pips
52 Week (1 year) - 169 pips
104 Week (2 years) - 175 pips
156 weeks (3 years) - 181 pips

(*rounded off)

For my experiments I have been using 138 pips given that longer than that, fundamentally a lot of things can change.

The gist of it has been to basically take the weekly opening price, add 138 pips on either sides up and down, then basically buy every intra-day support in the bottom half and sell every resistance on the top half. As the week progresses, we take the ‘mileage’ clocked by price, minus it off of 138 pips then add it to the current week’s high/low and carry on from there.

The idea is that within the current week, if not the following week, in some eventuality price would come back to break-even if not some pips in profit with a max 138 pips drawdown (give or take some for buffer).

I have NO statistics to prove this as this is a floating idea in my head that I’m forward testing this on. Here’s a TE with the entries taken this way (please ignore the USDSGD trades which are causing the bulk of the drawdowns): https://www.forexfactory.com/engweijie#acct.91

Now what I need help with, are primarily EXIT strategies. Right now I more or less have the entry requirements figured out:

1) Buy every support in the bottom half of the projected range, sell every resistance in the upper half of the range. So for example, if price opens with no gap on Monday, I would sell 1.1205, 1.1215, 1.1225, 1.1234, 1.1250, 1.1265, 1.1290, 1.1315 and 1.1333 with hard stops about 20 to 30 pips above the highest sell entry.

2) I’d further filter my entries with some momentum indicator like any RSI, Stochs and etc etc.

*trades taken on either M5 or M15, short timeframes.

For now I’ve been haphazardly closing trades at random - I’d open my phone throughout the day and whatever trade is in profit, whether 2 pips or 60 pips I’d just close it, and if price is near any of those marked areas I’d just open a new position.

For now I think position sizes of 1:1 up to a max 1:5 leverage per entry should give you enough margin to buffer the drawdowns.

What I need help with are ways to properly exit the positions - where and when. Also, another question I can’t figure out is how often to update the average that I use. Do I re-calculate a 12 week average every Sunday before the market opens?

Again, this is VERY PRELIMINARY and VERY UNORTHODOX and most definitely wouldn’t sit well with conventional trading methods. Hopefully we can get some suggestions in that I can carry forward and test out Monday when the market opens and further refine this. Maybe collectively we can come up with a method unique to this thread (compilation of everyone’s trading styles and ideas).

Lets keep this discussion for the WEEKENDS ONLY, because ultimately when the market opens we want to discuss live trading calls and ideas.

To Ata: I posted this here instead of creating a new thread because this method primarily focuses on EURUSD ONLY and no other pairs, and that Traders here are focused on this pair so would be able to collectively give good input we could all use together as a team when the markets are open. If you feel this derails your thread (I Hope discussion during the weekend is fine), please let me know I’ll delete this and have the discussion somewhere else.

Many thanks in advance, have a good weekend everyone.
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You hesitate, you masturbate.
Quoting amikaking
{quote} If you have nothing to tell, please go back to the old thread. I thought you are not going to post anymore thread ya? Where is your promise to yourself? Are you blind? Did you see my chart & analysis / discussion posted here? Anything you still want to blabbering about? Don’t be childish. And with respect to Ata, I would never reply to your thread here from now onwards. Thanks.
Amikaking and Jaybag.. I know that both of you are genuinely good hearted people.. No need to bicker.. All is well..

At weekends the thread can be a little more chilled and free.. Just make sure we go back in business mode once market opens..

Stay Green
Be a seer, not a looker!
Last months candle closed as a doji. On Friday a 4 hour hammer formed rejecting about 50% of the wick of last months doji. Maybe this goes back up to 1.25 area to make an M on monthly chart
ex nihilo
Quoting engweijie
Hi everyone, hope we’re all having a pleasant weekend. I waited for the weekend to discuss this because I didn’t want to derail the live discussions when the market is open, but I’ve been experimenting with a theory of mine and I need some help to refine it because it is VERY ELEMENTARY and crude at this given moment. Basically the gist of it is using the average weekly range to scalp both directions. Current averages: Quarterly - 138 pips 52 Week (1 year) - 169 pips 104 Week (2 years) - 175 pips 156 weeks (3 years) - 181 pips (*rounded off) For...
For exits try equal legs method.
Don't believe me just watch!
A resistance area the next fib line. 618

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TMT Scalping System (Best system on FF)
hello to everyone new on ff ....this is how i see the eur/usd pair
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share holder of PayorCoin
Quoting engweijie
Hi everyone, hope we’re all having a pleasant weekend. I waited for the weekend to discuss this because I didn’t want to derail the live discussions when the market is open, but I’ve been experimenting with a theory of mine and I need some help to refine it because it is VERY ELEMENTARY and crude at this given moment. Basically the gist of it is using the average weekly range to scalp both directions. Current averages: Quarterly - 138 pips 52 Week (1 year) - 169 pips 104 Week (2 years) - 175 pips 156 weeks (3 years) - 181 pips (*rounded off) For...
Hi hengweijie
1) I don't understand if you want to create e scalp system or a trading following system. This is important to understand for the exit strategy.
2) For understand the direction of the price during all the week I simply use weekly pivot. Please note how when the price open over or under WWP (yellow line) in the most of case the price remain for all the week over or under this important value. This is foundamentel during the week for decide how to buy low or sell high.
3) WPP is a great imbalace zone and the break out of this level is always very important. to understand a possible fake break out I look where is the price during the week.
How ATA said stay green and I will follow you with pleasure.
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3) WWP is a great imbalance
Quoting 19monza64
{quote} Hi hengweijie 1) I don't understand if you want to create e scalp system or a trading following system. This is important to understand for the exit strategy. 2) For understand the direction of the price during all the week I simply use weekly pivot. Please note how when the price open over or under WWP (yellow line) in the most of case the price remain for all the week over or under this important value. This is foundamentel during the week for decide how to buy low or sell high. 3) WPP is a great imbalace zone and the break out of this...
I know this is EUR USD thread but check EURGBP which is trading below the 200 Zone of the weekly pivot. What you got to say about that.?
sell strength in falling markets, and buy weakness in rising markets.
Quoting 19monza64
{quote} Hi hengweijie 1) I don't understand if you want to create e scalp system or a trading following system. This is important to understand for the exit strategy. 2) For understand the direction of the price during all the week I simply use weekly pivot. Please note how when the price open over or under WWP (yellow line) in the most of case the price remain for all the week over or under this important value. This is foundamentel during the week for decide how to buy low or sell high. 3) WPP is a great imbalace zone and the break out of this...
Can I just ask, what are the other coloured lines in your chart representing? The colourful lines that box up sections of the whole chart?

Thanks in advance
You hesitate, you masturbate.
Quoting htcone
{quote} I know this is EUR USD thread but check EURGBP which is trading below the 200 Zone of the weekly pivot. What you got to say about that.?
what I said before. Eurgbp was all week under Wpp so for me it was just short. Last week I was already long on GBPUSD which did all week over WPP. Unfortunately, trading is not an exact science but simply a probability calculation.
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Quoting engweijie
{quote} Can I just ask, what are the other coloured lines in your chart representing? The colourful lines that box up sections of the whole chart? Thanks in advance
Simply fibo weekly pivot you can find it in Davit thread (pivot trading) or every were in internet
Quoting 19monza64
{quote} Simply fibo weekly pivot you can find it in Davit thread (pivot trading) or every were in internet
Thank you buddy appreciate the assistance. Hope you’re having a good weekend!
You hesitate, you masturbate.
To be clearer WPP is the weekly pivot point the other pivots are supports or resistances
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Quoting 19monza64
To be clearer WPP is the weekly pivot point the other pivots are supports or resistances {image}
its between 2 levels. Your thoughts, What direction would it go?
TMT Scalping System (Best system on FF)
happy sunday
just my opinion:

M30 chart
i think price will pullback to 1176 ish area.
Thats a buy for me if price action agrees.
target 1240 ish

just a plan.
till it opens its all speculation.
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in wondering about yourself, you forgot what you came here to be part of
As usual, here is new week's analysis from Chris that serves to me as a general outlook and warm-up for my brains.. enjoy..

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Stay Green
Be a seer, not a looker!
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