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My Day Trading System (MDTS) in trend following

  • #101
  • May 31, 2019 4:24am May 31, 2019 4:24am
Quoting sriloba
Hi, GBPUSD is stopped out with -6 pips Always put a stop loss at the most recent high or low. In this case, I decided to put the stop loss 6 pips from the entry. Because I saw the Hammer formed, in H4, at the bottom of the downtrend. Maybe the trend reverses. Sai Ram {image}
That's why, as I have already written, watching the graghs, I noticed on H1: the candle MUST CLOSE over /for sell/ or under /for buy/ 5 EMA /H_L/. It is not enough to touch the 5 EMA - it is risky. In 9.00 GT GBPUSD just closed a candle over 5 EMA - high and price begins to fall down - we'll see what will happen - is this theory right?! Again the candle on M15 is very long, it will probably retrace, but I think entrance in 10.15 GT is better. If you add a MBFX indicator - I think it is very significant to see where is its direction on H1 and M30 in order to take a decision to enter or not on M15. On 9.15 when you entered in a trade MBFX on M30 was in the oposite direction - would you see?
Sorry, I can't share a picture, I don't know how to share, but just add this indi and watch what is happening.
  • #102
  • May 31, 2019 4:30am May 31, 2019 4:30am
I've just finished EURGBP - BUY - 15 green pips, but the price made 30 pips. I enterd a bit later.
  • #103
  • May 31, 2019 4:52am May 31, 2019 4:52am
I've just finished - GBPUSD - SELL - 20 green and quick pips - I think the system is working, but we have to precise on H1 when the retracemrnt is finished and then enter on M15 - it is very significant in my opinion!
  • #104
  • May 31, 2019 7:04am May 31, 2019 7:04am
Quoting NatashaM
{quote} That's why, as I have already written, watching the graghs, I noticed on H1: the candle MUST CLOSE over /for sell/ or under /for buy/ 5 EMA /H_L/. It is not enough to touch the 5 EMA - it is risky. In 9.00 GT GBPUSD just closed a candle over 5 EMA - high and price begins to fall down - we'll see what will happen - is this theory right?! Again the candle on M15 is very long, it will probably retrace, but I think entrance in 10.15 GT is better. If you add a MBFX indicator - I think it is very significant to see where is its direction on H1...
Hi,

Now, I see your point. I will put it in application next week.

Do you mean the MBFX system or MBFX Timing indicator?



Thanks,

Sai Ram
Being a fxtrader is not easy. Ones must working hard.
  • #105
  • May 31, 2019 7:05am May 31, 2019 7:05am
Quoting NatashaM
I've just finished EURGBP - BUY - 15 green pips, but the price made 30 pips. I enterd a bit later.
Being a fxtrader is not easy. Ones must working hard.
  • #106
  • May 31, 2019 7:07am May 31, 2019 7:07am
Quoting NatashaM
I've just finished - GBPUSD - SELL - 20 green and quick pips - I think the system is working, but we have to precise on H1 when the retracemrnt is finished and then enter on M15 - it is very significant in my opinion!
Hi,


OK. Let do it next week.




Sai Ram
Being a fxtrader is not easy. Ones must working hard.
  • #107
  • May 31, 2019 8:31am May 31, 2019 8:31am
Quoting sriloba
{quote} Hi, Now, I see your point. I will put it in application next week. Do you mean the MBFX system or MBFX Timing indicator? Thanks, Sai Ram
Timing indicator!
  • #108
  • May 31, 2019 9:08am May 31, 2019 9:08am
Quoting NatashaM
{quote} Timing indicator!
Hi,



Thanks




Sai Ram
Being a fxtrader is not easy. Ones must working hard.
  • #109
  • May 31, 2019 9:43am May 31, 2019 9:43am
Hi,


For a maximum retracement, we have to wait for the price closes above or below the 5 EMA(H1) high/low.

Then crank down to M15 to enter a trade with the confirmations.

I have done some paper trades. The results are much better than before.

It is too late to take a trade at this hour. London session comes to an end in an hour.



Sai Ram
Being a fxtrader is not easy. Ones must working hard.
  • #110
  • May 31, 2019 11:15am May 31, 2019 11:15am
Quoting sriloba
Hi, For a maximum retracement, we have to wait for the price closes above or below the 5 EMA(H1) high/low. Then crank down to M15 to enter a trade with the confirmations. I have done some paper trades. The results are much better than before. It is too late to take a trade at this hour. London session comes to an end in an hour. Sai Ram
Standing in front of the computer and monitoring the price I have noticed that a H1 retracement is very significant and we have to be more patient in waiting a candle to close above or below the 5 EMA /H_L/ on H1. That's why I'm using MBFX timing indicator with default settings for a conformation that the retracement is finishing and the price is entering in the main H4 direction. If on H1 and even M30 we can not see any change of this direction /by yellow or the new color of MBFX/ - then we have to stay away of entering in a trade, even we have an entry signal on M15. Then we have to wait to the next M15 entry. A H1 timeframe is very significant - otherwise we are going to risk and our SL will be touched.
MBFX timing indicator is only a suggestion of mine - may be there is a better indicator for confirmation to give us a better clearness the retracement was finished on H1 in order to continue with our entry on M15. If you have a better solution - lets see and improve it. I'll be happy everyone to share here!
Have a nice weekend!
  • #111
  • May 31, 2019 11:53am May 31, 2019 11:53am
Quoting NatashaM
{quote} Standing in front of the computer and monitoring the price I have noticed that a H1 retracement is very significant and we have to be more patient in waiting a candle to close above or below the 5 EMA /H_L/ on H1. That's why I'm using MBFX timing indicator with default settings for a conformation that the retracement is finishing and the price is entering in the main H4 direction. If on H1 and even M30 we can not see any change of this direction /by yellow or the new color of MBFX/ - then we have to stay away of entering in a trade, even...
Hi,


Wow!!

I like your ideas! When doing top-down analysis from H4 to M15 ones must see the behaviors of price action in the interval of time frames. That's why price action

move in the H1 is significant. Never do the contrary in H1. All time frames must say the same thing.

If M15 is a whipsaw for accurate entry then use M30 to trigger. There is no problem. This might be a solution for an entry point.


Sai Ram
Being a fxtrader is not easy. Ones must working hard.
  • #112
  • Jun 3, 2019 2:52am Jun 3, 2019 2:52am
Hi, I've just put a BUY trade on GBPUSD - 8.45 GT - there is a perfect setup - we'll see what will happen....
  • #113
  • Jun 3, 2019 3:24am Jun 3, 2019 3:24am
Hi,

I've just closed manually GBPUSD +10 pips. Because NEW will release at 11:30 GMT.

H4: Trend is up

H4 and H1 are aligned

H1: Price closes below the 5 ema of the low

M15: Go LONG when ALF Winner is below 0 level and cross back above 0 level (white bar) + Force Index (H1) is positive


My friend just sent me ALF Winner to put in M15 for confirmation.


Hope I will grab 10 more pips to achieve my daily objective (20 pips)

Sai Ram
Attached Image (click to enlarge)
Click to Enlarge Name: BUY.png Size: 137 KB
Being a fxtrader is not easy. Ones must working hard.
  • #114
  • Jun 3, 2019 3:50am Jun 3, 2019 3:50am
Quoting sriloba
Hi, I've just closed manually GBPUSD +10 pips. Because NEW will release at 11:30 GMT. H4: Trend is up H4 and H1 are aligned H1: Price closes below the 5 ema of the low M15: Go LONG when ALF Winner is below 0 level and cross back above 0 level (white bar) + Force Index (H1) is positive My friend just sent me ALF Winner to put in M15 for confirmation. Hope I will grab 10 more pips to achieve my daily objective (20 pips) Sai Ram {image}
This indicator is giving us an earlier signal, I see, than MACD - we'll see is it better with ALF or with MACD?
  • #115
  • Jun 3, 2019 7:38am Jun 3, 2019 7:38am
My results till now - USDCAD - SELL - 20 green pips; EURGBP - BUY - 20 pips in profit and EURUSD - 20 pips again in profit. I'm waiting for a second trade in EURUSD - I've put SL to breakeven if the trend will go on and I'm still waiting for GBPUSD - it is an interesting movement today - the retracement continued longer - I've noticed MBFX on H1 didn't fall under 30 level - so that is meaning the retracement is not full - that's why I put my SL deeper - near the Pivot and we'll see ....
  • #116
  • Jun 3, 2019 7:51am Jun 3, 2019 7:51am
Quoting NatashaM
My results till now - USDCAD - SELL - 20 green pips; EURGBP - BUY - 20 pips in profit and EURUSD - 20 pips again in profit. I'm waiting for a second trade in EURUSD - I've put SL to breakeven if the trend will go on and I'm still waiting for GBPUSD - it is an interesting movement today - the retracement continued longer - I've noticed MBFX on H1 didn't fall under 30 level - so that is meaning the retracement is not full - that's why I put my SL deeper - near the Pivot and we'll see ....
Hi,

Be careful. The stop loss is the risk of each of your trade. How much you are willing to risk for this trade?

I don't risk 3 to 5% of capital on each trade. Every time you enter a trade it is a risk.

Because the indicators compute the past data to project in the future. So the past data don't give always 100% accurate.



Sai Ram
Being a fxtrader is not easy. Ones must working hard.
  • #117
  • Jun 3, 2019 8:06am Jun 3, 2019 8:06am
Quoting sriloba
{quote} Hi, Be careful. The stop loss is the risk of each of your trade. How much you are willing to risk for this trade? I don't risk 3 to 5% of capital on each trade. Every time you enter a trade it is a risk. Because the indicators compute the past data to project in the future. So the past data don't give always 100% accurate. Sai Ram
I risk not more then 2% of the capital. But GBPUSD is a volative pair - in many cases it's impossible our SL to be maximum 20 pips - it depends of the movement. Today I didn't enter on real account, because: 1. It's Monday - the new week is starting. 2. MBFX didn't fall under 30 level as I've already written - I was not sure enough. The H1 timeframe is a key timeframe before enter on M15.
  • #118
  • Jun 3, 2019 8:47am Jun 3, 2019 8:47am
Quoting NatashaM
{quote} I risk not more then 2% of the capital. But GBPUSD is a volative pair - in many cases it's impossible our SL to be maximum 20 pips - it depends of the movement. Today I didn't enter on real account, because: 1. It's Monday - the new week is starting. 2. MBFX didn't fall under 30 level as I've already written - I was not sure enough. The H1 timeframe is a key timeframe before enter on M15.
Being a fxtrader is not easy. Ones must working hard.
  • #119
  • Jun 3, 2019 8:50am Jun 3, 2019 8:50am
Hi,


There is a setup to go LONG as shown on the chart attached below.

But I did not take it because it is close to the NEWS releases on 17:00 GMT.




Sai Ram
Attached Image (click to enlarge)
Click to Enlarge Name: BUY.png Size: 149 KB
Being a fxtrader is not easy. Ones must working hard.
  • #120
  • Jun 3, 2019 9:16am Jun 3, 2019 9:16am
Quoting sriloba
Hi, There is a setup to go LONG as shown on the chart attached below. But I did not take it because it is close to the NEWS releases on 17:00 GMT. Sai Ram {image}
I think it is the real setup after the retracement on H1 has finised. In my opinion there is no mater the news are coming, because they are with a medium impack. The news are the moving force of the price and I think there is no problem /except non farm pay rolls, lets say and other with a high significance/. But most of the traders prefer to stay away from such a risk - in some cases it is beter to surf the wave of the movement, but on the other side it is beter to stay apart from trading.
There is no a perfect formula.
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