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Trading Made Simple(r)

  • #181
  • Jun 5, 2019 5:15am Jun 5, 2019 5:15am
Quoting RobinHood
{quote} Nice Trade. You should add the Purple 50 Line to the lower window, it would make it much easier to see when the indicators are above or below the 50 line.
Sometimes when I change TF the purple line disappears have any of u had this problem when I first load the chart it's always there
  • #182
  • Jun 5, 2019 6:43am Jun 5, 2019 6:43am
Quoting PhillipmC
{quote} Sometimes when I change TF the purple line disappears have any of u had this problem when I first load the chart it's always there
I have never experienced that problem.
Always a Student, Never a Master - Emulate What Works
  • #183
  • Jun 5, 2019 6:48am Jun 5, 2019 6:48am
Hi all, we should all be grateful to RobinHood for not only sharing a strategy that he has proved over an extended period is profitable, but also for the advice on trade management so freely given.
We should simply follow his advice and strategy as best our circumstances allow and prove to ourselves that we can make it work for us.
Until we have traded it with real money for at least 6 months we should resist the temptation to suggest changes.
Always remember we have been told that not every trade will be profitable, backtests confirm this, so keep your expectations reasonable.
This is a beautiful stress free strategy, thank you RobinHood.
Larry
  • #184
  • Edited 8:19am Jun 5, 2019 7:47am | Edited 8:19am
Quoting LarryK
Hi all, we should all be grateful to RobinHood for not only sharing a strategy that he has proved over an extended period is profitable, but also for the advice on trade management so freely given. We should simply follow his advice and strategy as best our circumstances allow and prove to ourselves that we can make it work for us. Until we have traded it with real money for at least 6 months we should resist the temptation to suggest changes. Always remember we have been told that not every trade will be profitable, backtests confirm this, so keep...
Larry, thank you for the nice comments.

I have been actively trading (day trading, position trading, swing trading) non-stop for more than 20 years.

One of my goals always was to create a way to trade (visually) that you could explain "how to do it" to a 10 year old child in 5 minutes and they would "get it".

With my template(s) there is no one right way to trade them. There are many ways. Everyone who uses my template(s) needs to find what way(s) work for them. I can only offer suggestions based on my observations, but that doesn't mean that mine are the best ways nor do I expect everyone to agree with them.

My goal in creating this thread was to share what it has taken me over 20 years to "perfect" (in my eyes), and to save others from having to do the same thing.

As every good trader knows, there are many components that are required to consistently trade successfully, and my template(s) are only a small part of the equation.

With that being said, my other goal would be to have others contribute really good ideas and methods to this thread that may improve the templates, or talk about things such as: money management, trade management, trading mindset, profit targets, stops, trailing stops, trading size, best times to trade, worst times to trade, etc. etc. etc.
Always a Student, Never a Master - Emulate What Works
  • #185
  • Edited 8:11am Jun 5, 2019 7:59am | Edited 8:11am
Here's how I set up my charts to trade the 4 hr. and Daily charts. The idea is that by setting up your charts this way, you are always "aware" of what is going on in the higher time frames. AND, you can also easily change one of the charts (like the monthly chart) to a lower time frame charts (like the 1 min. or 5 min.) to make sure that you are entering your trades when the pair is also moving in the direction of the higher time frame, instead of possibly against it.

After you set up the 4 charts, go to the top left corner on MT4 and click > File > Profiles > Save As and give it a name. I do this for all the pairs I trade. This way you can very easily flip through all the pairs you want.

Attached Image (click to enlarge)
Click to Enlarge Name: Chart Set-Up.PNG Size: 132 KB
Always a Student, Never a Master - Emulate What Works
  • #186
  • Jun 5, 2019 8:28am Jun 5, 2019 8:28am
Quoting RobinHood
Here's how I set up my charts to trade the 4 hr. and Daily charts. The idea is that by setting up your charts this way, you are always "aware" of what is going on in the higher time frames. AND, you can also easily change one of the charts (like the monthly chart) to a lower time frame charts (like the 1 min. or 5 min.) to make sure that you are entering your trades when the pair is also moving in the direction of the higher time frame, instead of possibly against it. After you set up the 4 charts, go to the top left corner on MT4 and click > File...
Hi Robinhood and all

Here is an additional thing you can do with your profile list if you would like them listed in a particular order. Those who trade numerous pairs may find this helpful.

(1) EURUSD
(2) GBPUSD
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #187
  • Jun 5, 2019 12:02pm Jun 5, 2019 12:02pm
So my experience with MA's was that I was dealing with too many false signals for my liking (crossover trades or continuation trades that failed) and I found this getting in the way of my overall profitability. would I be dealing with those same issues here? how has the admin dealt with these issues over the last decade?
  • #188
  • Jun 5, 2019 12:19pm Jun 5, 2019 12:19pm
Quoting sharpiemomo
So my experience with MA's was that I was dealing with too many false signals for my liking (crossover trades or continuation trades that failed) and I found this getting in the way of my overall profitability. would I be dealing with those same issues here? how has the admin dealt with these issues over the last decade?
I don't exactly know how to answer that. It's almost like someone asking you how you keep from falling off when you are riding a bicycle.

What you have to accept going in is that you can't eliminate what you call "false signals".

To me, there are no false signals, only valid signals that aren't profitable.
Always a Student, Never a Master - Emulate What Works
  • #189
  • Jun 5, 2019 12:28pm Jun 5, 2019 12:28pm
Would there be the possibility of you sharing your trading performance as you trade with your system to give us further insight on what to expect and what to look out for?
  • #190
  • Jun 5, 2019 1:03pm Jun 5, 2019 1:03pm
Quoting sharpiemomo
Would there be the possibility of you sharing your trading performance as you trade with your system to give us further insight on what to expect and what to look out for?
How I perform has no relevance as to how you'll perform.

Think about it like this...

Just Tiger Woods teaches you to to play golf, it doesn't mean that you will ever be able to play golf like Tiger Woods.
Always a Student, Never a Master - Emulate What Works
  • #191
  • Jun 5, 2019 1:11pm Jun 5, 2019 1:11pm
Quoting RobinHood
{quote} How I perform has no relevance as to how you'll perform. Think about it like this... Just Tiger Woods teaches you to to play golf, it doesn't mean that you will ever be able to play golf like Tiger Woods.
Think about it like this... Tiger Woods is Tiger Woods... Tiger Woods has a track record and his performance is unquestionable.

You are not Tiger Woods and you have not provided us with a track record yet you are showing us your system. So in this sense it does matter how you perform. If I wanted to be a professional golfer and I was taught by Tiger Woods I would stand a much greater chance of succeeding rather than being taught how to play golf by somebody who has never played golf successfully.

And other than that if you were to show us your trades we would be able to see how you are using your system in accordance to the market and that would provide a benefit to us all.
  • #192
  • Jun 5, 2019 2:03pm Jun 5, 2019 2:03pm
Quoting sharpiemomo
{quote} Think about it like this... Tiger Woods is Tiger Woods... Tiger Woods has a track record and his performance is unquestionable. You are not Tiger Woods and you have not provided us with a track record yet you are showing us your system. So in this sense it does matter how you perform. If I wanted to be a professional golfer and I was taught by Tiger Woods I would stand a much greater chance of succeeding rather than being taught how to play golf by somebody who has never played golf successfully. And other than that if you were to show us...
I didn't present a TRADING SYSTEM and its performance where the results are unquestionable. I made no profitability claims. I presented a template along with some possible TRADING METHODS just to TRY TO HELP OTHERS to trade better, nothing more.
Always a Student, Never a Master - Emulate What Works
  • #193
  • Jun 5, 2019 4:48pm Jun 5, 2019 4:48pm
Quoting sharpiemomo
{quote} Think about it like this... Tiger Woods is Tiger Woods... Tiger Woods has a track record and his performance is unquestionable. You are not Tiger Woods and you have not provided us with a track record yet you are showing us your system. So in this sense it does matter how you perform. If I wanted to be a professional golfer and I was taught by Tiger Woods I would stand a much greater chance of succeeding rather than being taught how to play golf by somebody who has never played golf successfully. And other than that if you were to show us...
I suggest you do backtesting for previous 1yr and forward testing for the next 1- 2 months on a demo. If it doesn't work for you abandon it all tune it to what you think will make you profitable.
MM
  • #194
  • Jun 5, 2019 6:25pm Jun 5, 2019 6:25pm
Quoting Mwangi
{quote} I suggest you do backtesting for previous 1yr and forward testing for the next 1- 2 months on a demo. If it doesn't work for you abandon it all tune it to what you think will make you profitable.
You guys are simply not getting it. I am not here to PROVE anything to you.

I did not present a TRADING SYSTEM, I simply presented a template where you decide if you want to use it AND/OR how you want to use it and offered some suggestions.

I am not here to spoon feed people. I am just here to present some of my ideas.

You know that saying...

"Give a man a fish and he will eat for a day, teach a man how to fish and he will eat for a lifetime"

I am not giving you a fish and I am not here to teach you to fish. I am trying to present you with some POSSIBLE methods of HOW to fish if you are struggling.

I am not commenting further about this.
Always a Student, Never a Master - Emulate What Works
  • #195
  • Jun 5, 2019 11:51pm Jun 5, 2019 11:51pm
Quoting RobinHood
{quote} You guys are simply not getting it. I am not here to PROVE anything to you. I did not present a TRADING SYSTEM, I simply presented a template where you decide if you want to use it AND/OR how you want to use it and offered some suggestions. I am not here to spoon feed people. I am just here to present some of my ideas. You know that saying... "Give a man a fish and he will eat for a day, teach a man how to fish and he will eat for a lifetime" I am not giving you a fish and I am not here to teach you to fish. I am trying to present you with...
RobinHood , what I see here on FF 1from 3 will ask this question to other traders, and I'm puzzled what this has to do with learnig to trade. This sounds so pathetic and sad, when someone tells that from yours bank statment they gonna learn trading secrets . You must be joking . Just dont pay attention Robin, thanks God not everybody like this
  • #196
  • Jun 6, 2019 6:00am Jun 6, 2019 6:00am
Thanks for the very interesting information, I am new to this but I will research a lot and see where it takes me. Please dont let people put you off sharing your knowledge.
  • #197
  • Jun 6, 2019 7:37am Jun 6, 2019 7:37am
Quoting martbac
Thanks for the very interesting information, I am new to this but I will research a lot and see where it takes me. Please dont let people put you off sharing your knowledge.
Welcome, thank you, and good luck!
Always a Student, Never a Master - Emulate What Works
  • #198
  • Jun 6, 2019 2:25pm Jun 6, 2019 2:25pm
I took a small position on a GBPJPY 4 hr Crossover trade. It's against the daily trend and not far from hitting previous support (which may become resistance). I'll keep a close eye on this one and bail quickly if I see it starting to stall or act funny at or near resistance.

The resistance I am talking about is at about 137.86

Attached Image (click to enlarge)
Click to Enlarge Name: GJ 4 Hr Crossover Trade.PNG Size: 79 KB
Always a Student, Never a Master - Emulate What Works
  • #199
  • Jun 6, 2019 4:07pm Jun 6, 2019 4:07pm
I exited the above trade just under 2 pips off the high.

Attached Image (click to enlarge)
Click to Enlarge Name: GJ Exit.PNG Size: 8 KB


Attached Image (click to enlarge)
Click to Enlarge Name: GJ Exit 2.PNG Size: 95 KB


I exited on the bar just below the green X.

Why? Because it should have gone straight up to 137.86 and it didn't. It stalled near a previous high. The HMA Line turned Deep Pink and the bar turned Red/Red.

That was enough to tell me to get out.
Always a Student, Never a Master - Emulate What Works
  • #200
  • Jun 6, 2019 5:13pm Jun 6, 2019 5:13pm
Robin, do u offer drill down to 1M tf to see what's going on ? Or was it because it was near a resistance level that u were concerned about ?
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