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Trading Made Simple(r)

  • #121
  • May 29, 2019 8:43am May 29, 2019 8:43am
Quoting RobinHood
{quote} That could be a good trade as the daily chart looks like it may be rolling over to resume the downtrend. I'm short the 4 hr. EURAUD
This week I have started to look at daily before entry. Hope it helps with the results.

I took a re-entry on EURAUD when price arrive back to my original entry. This trade looking good at the moment
  • #122
  • May 29, 2019 8:44am May 29, 2019 8:44am
Quoting RobinHood
kirinda, One important piece of advice, only trade in the same direction as the RSI (14). RSI (14) > Purple 50 Line = LONG ONLY RSI (14) < Purple 50 Line = SHORT ONLY
Thanks for the advice
  • #123
  • May 29, 2019 8:51am May 29, 2019 8:51am
Quoting RobinHood
{quote} It may be hard to believe, but I NEVER look at the news, or even consider looking at it. For me, it's similar to when a professional pilot flies a plane by just reading the instruments, I just read the indicators. They tell me everything I need to know.
I'm usually trading 4H (before I look at this method) and I only care about some news that is related to employment, rate and monetary policy. But if I use
low risk per trade I think I doesn't need to see at news at all.
  • #124
  • May 29, 2019 9:07am May 29, 2019 9:07am
Quoting kirinda
{quote} I'm usually trading 4H (before I look at this method) and I only care about some news that is related to employment, rate and monetary policy. But if I use low risk per trade I think I doesn't need to see at news at all.
I used to watch CNBC religiously all day every day. They are mostly just talking heads who have no more idea how news will affect the markets than anybody else does.

BUT, when you listen to them, it's almost impossible not to be influenced by what they say at least to some degree, so now I have not watched it (or read) or any other financial news in over a decade.

Do I miss it? Not one iota. In fact, I trade much better without it.
Always a Student, Never a Master - Emulate What Works
  • #125
  • May 29, 2019 9:34am May 29, 2019 9:34am
RobinHood,
Just a quick word to say thank you for sharing this method. A great thread so far and I've learned a lot. I've read/followed and traded Big E's method over the last three years or so but I'm ashamed to say that it has taken until today for me to become a member of FF. I like this method, it just makes sense to me. I am in the process of trying to find the best way to trade with it to suit my style. I would prefer to trade the Daily charts, I wonder if you (or anyone else) can offer any advice or tips for holding a trade over the weekend?
Thanks.
  • #126
  • May 29, 2019 10:14am May 29, 2019 10:14am
Quoting James1749
RobinHood, Just a quick word to say thank you for sharing this method. A great thread so far and I've learned a lot. I've read/followed and traded Big E's method over the last three years or so but I'm ashamed to say that it has taken until today for me to become a member of FF. I like this method, it just makes sense to me. I am in the process of trying to find the best way to trade with it to suit my style. I would prefer to trade the Daily charts, I wonder if you (or anyone else) can offer any advice or tips for holding a trade over the weekend?...
Welcome! And you're welcome!

Nike provides the simplest answer...

"Just Do It"

It's really not that scary...LOL!

"Nothing is either good or bad, only thinking makes it so"
Always a Student, Never a Master - Emulate What Works
  • #127
  • May 29, 2019 10:31am May 29, 2019 10:31am
Hi all,

Thanks to RobinHood for all info and education what he is sharing with us . Nice thread all civilized not like in some places here onFF, hope will stay like that ! Want to share couple trades some okay and some not so much. Comments and ideas of improvement are welcome . Just to be clear for TP and SL using old HighS and LowS , I have full time job, can't monitor. Thank you
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: USDCADH4.png Size: 94 KB
  • #128
  • May 29, 2019 10:43am May 29, 2019 10:43am
Quoting RobinHood
{quote} Welcome! And you're welcome! Nike provides the simplest answer... "Just Do It" It's really not that scary...LOL! "Nothing is either good or bad, only thinking makes it so"
It's not? Scares the hell outta me ... take a gander at this trade (the vertical dashed blue line is the entry candle and the Daily candle was greener than grass at the time):
Attached Image (click to enlarge)
Click to Enlarge Name: NZDCADH4.png Size: 47 KB
  • #129
  • May 29, 2019 11:56am May 29, 2019 11:56am
Quoting Giedrius
Hi all, Thanks to RobinHood for all info and education what he is sharing with us . Nice thread all civilized not like in some places here onFF, hope will stay like that ! Want to share couple trades some okay and some not so much. Comments and ideas of improvement are welcome . Just to be clear for TP and SL using old HighS and LowS , I have full time job, can't monitor. Thank you {image} {image} {image} {image} {image} {image}
I think you would do better using the template exactly as it was presented. It would have kept you from some losing trades. Mainly because you entered too late.
Always a Student, Never a Master - Emulate What Works
  • #130
  • Edited 12:31pm May 29, 2019 12:07pm | Edited 12:31pm
Quoting tenthman
{quote} It's not? Scares the hell outta me ... take a gander at this trade (the vertical dashed blue line is the entry candle and the Daily candle was greener than grass at the time): {image}
You entered 2-3 candles too late. You should have entered as soon as the Stochastics 8, 3, 3 crossed back above the Purple 50 Line.

If you had of entered at that time, and moved your UP stop along the way, it would have been a small winning or small losing trade.

As far as being scared to hold a trade over the weekend, if you are, then you are trading too big, reduced the size until you no longer worry about it.

You have to look at trading like fishing.

Do you worry about losing your bait? Or do you just realize that losing your bait IS part of fishing and accept it going in? It's really the same thing with trading.

The best baseball players on earth can on average hitting the ball 3 to 4 times out of 10.

It's just like what I wrote earlier...

"Nothing is either good or bad, only thinking makes it so"
Always a Student, Never a Master - Emulate What Works
  • #131
  • May 29, 2019 12:46pm May 29, 2019 12:46pm
Dear Robin Hood, please, may you check if the vertical blue lines indicate possibles re-entries according to your method?
Attached Image (click to enlarge)
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  • #132
  • May 29, 2019 12:53pm May 29, 2019 12:53pm
Quoting RobinHood
{quote} I think you would do better using the template exactly as it was presented. It would have kept you from some losing trades. Mainly because you entered too late.
RobinHood , but I didn't change anything. I saw they are a bit different , but I don't have idea why? Did I put in folders somehow wrong, I don't know ? Any idea , RobinHood?
  • #133
  • Edited 3:34pm May 29, 2019 1:16pm | Edited 3:34pm
Quoting juantrader
Dear Robin Hood, please, may you check if the vertical blue lines indicate possibles re-entries according to your method? {image}
Attached Image


Trades

First Trade is a Crossover Trade: Entered too early, all lower indicators must cross above the Purple 50 Line before going long (at least that's the way I do it).

All other trades are Continuation trades and are basically correct (some were a bar early)
Always a Student, Never a Master - Emulate What Works
  • #134
  • May 29, 2019 1:17pm May 29, 2019 1:17pm
Quoting Giedrius
{quote} RobinHood , but I didn't change anything. I saw they are a bit different , but I don't have idea why? Did I put in folders somehow wrong, I don't know ? Any idea , RobinHood?
I have no idea. Maybe try downloading the zip file again and reinstalling everything. But I know it works correctly because as you can see no one else is having that same issue.
Always a Student, Never a Master - Emulate What Works
  • #135
  • May 29, 2019 3:13pm May 29, 2019 3:13pm
Quoting Giedrius
Hi all, Thanks to RobinHood for all info and education what he is sharing with us . Nice thread all civilized not like in some places here onFF, hope will stay like that ! Want to share couple trades some okay and some not so much. Comments and ideas of improvement are welcome . Just to be clear for TP and SL using old HighS and LowS , I have full time job, can't monitor. Thank you {image} {image} {image} {image} {image} {image}
Nice job man!!!
  • #136
  • May 29, 2019 10:20pm May 29, 2019 10:20pm
Quoting neil001
{quote} Nice job man!!!
Thanks. There is a lot of room for improvement. Here is about patience, discipline. Get in trend in time, get out in time. Determine direction on the trend .No short cuts. Problem that sometimes you want yo ride this trend do much and you jump in. And this few candles can mean a lot. Just my opinion.....
  • #137
  • May 30, 2019 2:43am May 30, 2019 2:43am
Quoting kirinda
NZDUSD 4H crossover trade. Short entry in the same direction as the trend on daily timeframe. I will use exit method based on color change for 2-3 indicators. {image}
Exit because of color change. 7 pips loss (stop loss was 36 pips)
  • #138
  • Edited 6:56am May 30, 2019 5:23am | Edited 6:56am
Quoting Giedrius
{quote} Thanks. There is a lot of room for improvement. Here is about patience, discipline. Get in trend in time, get out in time. Determine direction on the trend .No short cuts. Problem that sometimes you want yo ride this trend do much and you jump in. And this few candles can mean a lot. Just my opinion.....
You are right. And especially important is: "And this few candles can mean a lot."

Something I find very helpful (and I ALWAYS do) is when I get a signal to enter, I always look at the 5 min chart and will only enter when it's going in the same direction as the higher time frame chart that told me to enter.
Always a Student, Never a Master - Emulate What Works
  • #139
  • Edited 5:47am May 30, 2019 5:29am | Edited 5:47am
Quoting kirinda
{quote} Exit because of color change. 7 pips loss (stop loss was 36 pips)
You are getting the hang of it! And once you do, it all becomes very easy.
Always a Student, Never a Master - Emulate What Works
  • #140
  • May 30, 2019 7:33am May 30, 2019 7:33am
Quoting RobinHood
{quote} You entered 2-3 candles too late. You should have entered as soon as the Stochastics 8, 3, 3 crossed back above the Purple 50 Line. If you had of entered at that time, and moved your UP stop along the way, it would have been a small winning or small losing trade. As far as being scared to hold a trade over the weekend, if you are, then you are trading too big, reduced the size until you no longer worry about it. You have to look at trading like fishing. Do you worry about losing your bait? Or do you just realize that losing your bait IS...
Two to three candles too late??? A 4H chart! I would have made a whopping 10 pips had I gotten in (and out) when you suggest. Here's how it ended up ... (good thing it was a demo acct):
Attached Image (click to enlarge)
Click to Enlarge Name: NZDCADH4.png Size: 45 KB
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