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Trading Made Simple(r)

  • #321
  • Jun 18, 2019 9:42am Jun 18, 2019 9:42am
I have been playing with this strategy for a few days now. This is my first trade. Looks good until now. My idea is to stay in the trade until I get a contrasignal in the daily, for example MA-cross or change of the color of the candle. What do you think?

@RobinHood: thank you very much for sharing such a wonderful simple strategy!
Attached Image (click to enlarge)
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  • #322
  • Edited 10:59am Jun 18, 2019 9:53am | Edited 10:59am
Quoting Rob_Trader
I have been playing with this strategy for a few days now. This is my first trade. Looks good until now. My idea is to stay in the trade until I get a contrasignal in the daily, for example MA-cross or change of the color of the candle. What do you think? @RobinHood: thank you very much for sharing such a wonderful simple strategy! {image}
Rob,

I am glad to see you are in a trade that is working for you. BUT, it looks like to me that you were WAAAAY late for the party. It's vitally important that you enter as close to the time that you get the signal as possible. In this case, you should have entered up around where your stop is (the red line) and you would be ahead about another 100 pips AND you could have used a MUCH SMALLER STOP.

As far as exiting a trade goes:

From Page 1, Post #1

Exit Methods

Just some of the possible ways...

1. Candles change to the opposite color(s)

2. RSI crosses the Purple 50 Line in the opposite direction

3. HMA Line turns the opposite color

4. A candle closes on the opposite side of the Yellow Line

5. One or both Stochastics cross the Purple 50 Line in the opposite direction

6. The HMA Line and the Yellow Line cross to the opposite direction

7. Stop Loss (including a trailing stop) gets hit

8. Profit Target is reached

9. The market stalls, or slows down to a crawl, or gets choppy

10. The trend changes direction

==============

Personally, I feel that if combining multiple indicators is a good way to enter a trade (which Template 1 does), then doing the same thing should be a good way to exit.

Meaning, I never use just one indicator (of the 7 in the template) to exit. I want to see 2 or 3 or 4 all telling me to exit at the same time.
Always a Student, Never a Master - Emulate What Works
  • #323
  • Jun 18, 2019 9:55am Jun 18, 2019 9:55am
Quoting Rob_Trader
I have been playing with this strategy for a few days now. This is my first trade. Looks good until now. My idea is to stay in the trade until I get a contrasignal in the daily, for example MA-cross or change of the color of the candle. What do you think? @RobinHood: thank you very much for sharing such a wonderful simple strategy! {image}
Its too soon for me, one of the best exit i figured out is fast stoch 833 cross 50 line, even higher 55 for sell trade and 45 for buy trade
  • #324
  • Jun 18, 2019 10:06am Jun 18, 2019 10:06am
Quoting RobinHood
{quote} Rob, I am glad to see you are in a trade that is working for you. BUT, it looks like to me that you were WAAAAY late for the party. It's vitally important that you enter as close to the time that you get the signal as possible. In this case, you should have enter up around where your stop is (the red line) and you would be ahead about another 100 pips AND you could have used a MUCH SMALLER STOP.
Thanks for the feedback. You are completely right. The entry in the H4 was quite late according to the rules. But the image in the daily was just too tempting for me. Hence the late entry. Let's see how it develops.
Attached Image (click to enlarge)
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  • #325
  • Edited 6:29pm Jun 18, 2019 12:19pm | Edited 6:29pm
Short on EURUSD H4 chart and Short on CADJPY daily chart... Went down to 35pips but from the daily i expected more so decided to hold out for more.. Closed out at -11 pips as it rocketed back up.

Lets see how EURUSD plays out.

Roni
  • #326
  • Jun 18, 2019 12:51pm Jun 18, 2019 12:51pm
Quoting FxDream2409
After 3 days using #1 temple with Two Basic Trade Entry Methods, I got an insanse win rate. I hope I can fish for living with this tool that @RobinHood give us for free. Many thanks and best regards! By the way, #1 temple is woking fine on 15M and 4H TF XAUUSD. {image}
What timeframe were you trading?
Thanks.
  • #327
  • Edited 6:28pm Jun 18, 2019 5:48pm | Edited 6:28pm
Let me know if anyone still SHORT on EURUSD H4..
  • #328
  • Jun 18, 2019 6:54pm Jun 18, 2019 6:54pm
Quoting Roni26
Let me know if anyone still SHORT on EURUSD H4..
I am.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD.PNG Size: 5 KB
Always a Student, Never a Master - Emulate What Works
  • #329
  • Jun 18, 2019 10:50pm Jun 18, 2019 10:50pm
Hi RB,
Refer below attached h4 GJ chart, there is a setup crossing up trend, and it is now pending rsi to cross above 50% then we can enter short ? Please advice if this is not right.
I have attached the day chart as well on GJ, day is still showing downtrend, which means it is not ideal to go long with h4 crossed long ?


Thanks and Regards,
Harnying
Attached Image(s) (click to enlarge)
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  • #330
  • Jun 19, 2019 1:09am Jun 19, 2019 1:09am
Quoting harnying
Hi RB, Refer below attached h4 GJ chart, there is a setup crossing up trend, and it is now pending rsi to cross above 50% then we can enter short ? Please advice if this is not right. I have attached the day chart as well on GJ, day is still showing downtrend, which means it is not ideal to go long with h4 crossed long ? Thanks and Regards, Harnying {image} {image}
Hi Harnying
The rsi is below the 50 level so you should only be looking for shorts on that pair unless it crosses above the 50 level. You would also have to wait till the stocs come back below the 50 level and the hma turns red before taking the short on the 4hr if you were following the method as per Robinhood. At least that's how I see it but I am open to correction if I've got it wrong.
Cheers
Andy
  • #331
  • Jun 19, 2019 2:28am Jun 19, 2019 2:28am
Quoting harnying
Hi RB, Refer below attached h4 GJ chart, there is a setup crossing up trend, and it is now pending rsi to cross above 50% then we can enter short ? Please advice if this is not right. I have attached the day chart as well on GJ, day is still showing downtrend, which means it is not ideal to go long with h4 crossed long ? Thanks and Regards, Harnying {image} {image}
What Andy said in Post 330 is exactly correct.
Always a Student, Never a Master - Emulate What Works
  • #332
  • Jun 19, 2019 2:56am Jun 19, 2019 2:56am
This looks intresting but what about ranging/ sideways markets ?

And what is your successrate winners vs losers ? And riskt to rewarards ?

And what roi in a mounth is possible to get ?

Thank You.

Best regards
  • #333
  • Edited 4:48am Jun 19, 2019 3:40am | Edited 4:48am
Quoting jgadefelth
This looks intresting but what about ranging/ sideways markets ? And what is your successrate winners vs losers ? And riskt to rewarards ? And what roi in a mounth is possible to get ? Thank You. Best regards
Hi!

You should do your homework. It depends really of your trading style.
I did some paper trading from starting of begin of April. Last two and half months had next results:
Attached Image

Entry is by the rules and between 6 AM GMT to 9 PM GMT. Exit is when candle closes over the yellow line.
Your results will be different.

With regards,
SP
  • #334
  • Jun 19, 2019 3:45am Jun 19, 2019 3:45am
Quoting SuperPip
{quote} Hi! You should do your homework. It depends really of your trading style. I did some paper trading from starting of begin of April. Last two and half months got next results: {image} Entry is by the rules and between 6 AM GMT to 9 PM GMT. Exit is when candle closes over the yellow line. Your results will be different. With regards, SP

was it 4h ? why do you think it was so big difference between the different pairs ? stop ?

Best regards
  • #335
  • Jun 19, 2019 3:48am Jun 19, 2019 3:48am
Hello all,

My MT4 application giving "connection failed", anyone experiencing this?
Begin with the end in mind
  • #336
  • Jun 19, 2019 4:17am Jun 19, 2019 4:17am
Quoting jgadefelth
{quote} was it 4h ? why do you think it was so big difference between the different pairs ? stop ? Best regards
Yes, it was on 4H. I did not used the daily chart.
Difference is coming from currency behavior.
For good results nice trending on 4H is needed.
  • #337
  • Jun 19, 2019 4:35am Jun 19, 2019 4:35am
Quoting SuperPip
{quote} Yes, it was on 4H. I did not used the daily chart. Difference is coming from currency behavior. For good results nice trending on 4H is needed.
Does it depend on the pairs or just the time, that is for this period you tested this pairs was more trending then others or is it like this sort of mostly the same pairs are the one that trends ?

Best regads
  • #338
  • Jun 19, 2019 4:58am Jun 19, 2019 4:58am
Quoting RobinHood
{quote} I am. {image}

I got in a few bars later on the continuation... this is not where I entered... currently at -9pips.. not looking great.
It would help if you explained to us your method of entry as I am still using the templates you provided on page 1 and entered according to the rules there.

Kind regards,
Roni
  • #339
  • Jun 19, 2019 5:04am Jun 19, 2019 5:04am
In a dilemma,

Gold 4hr looks like a short but daily indicators all still positive.
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  • #340
  • Jun 19, 2019 5:27am Jun 19, 2019 5:27am
Thanks for sharing the system RH. I'll try the system on a daily chart with a demo account.
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jevgenix