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Trading Made Simple(r)

  • #361
  • Jun 19, 2019 9:28am Jun 19, 2019 9:28am
Quoting Luttlebird
So, about 45 minutes ago, I saw this Gold trade all the indicators are telling me that this trade is on a ride for long. I didn't consider if the 4H candle has closed, I jumped in because the 4TF are going in the same direction. Any suggestion on the possible error I may be committing. Thank you. Luttlebird. {image}
From Post # 1, you overlooked the suggestion I made below in BOLD.

Trading Tips:

When using the Crossover or Continuation methods for entries, it is best to enter on the 1st, 2nd, or 3rd candle after the HMA Line crosses the Yellow Line. Otherwise, it is usually better to wait for the next trade set-up. This is because, as Big E used to preach, most often candles only run the same colors for 3-8 bars.

When using the Crossover or Continuation methods for entries, ideally, you should only enter if BOTH Stochastic have crossed the Purple 50 Line (in the direction you are trading), or if one has crossed and the other is very close to crossing the 50.

You MUST wait for the set-up candle to close before you enter OR exit a trade, otherwise it may close the wrong color(s) and you don't want to trade that.

It's often much riskier to enter a new trade immediately after an exceptionally large bar. So it's not suggested that you do it.

Whenever you enter a trade, make sure that the last bar has closed on the same side of the Yellow Line as the direction you are trading in.

When the two Stochastics cross in unison (or very close together), it's usually a better than average trade set-up. But, you also need the other indicators to agree before you enter.

Always enter a stop loss immediately when you place a trade.
Always a Student, Never a Master - Emulate What Works
  • #362
  • Jun 19, 2019 9:33am Jun 19, 2019 9:33am
Quoting Luttlebird
So, about 45 minutes ago, I saw this Gold trade all the indicators are telling me that this trade is on a ride for long. I didn't consider if the 4H candle has closed, I jumped in because the 4TF are going in the same direction. Any suggestion on the possible error I may be committing. Thank you. Luttlebird. {image}
Hi Luttlebird,

I cant really read your charts that well but my chart shows the 4hr HMA is red meaning a long isn't ready to be taken yet.

I posted a 4hr and daily chart earlier as I was in 2 minds as to what to do. In the end I decided not to take a trade.

When I look at a chart I first look at where the rsi is in relation to the 50 line. I then check the HMA colour, if they are not in agreement I move on to the next pair. According to the method you cant have one without the other.

Cheers
Andy
  • #363
  • Jun 19, 2019 10:14am Jun 19, 2019 10:14am
Quoting gj7rwt
{quote} Hi Luttlebird, I cant really read your charts that well but my chart shows the 4hr HMA is red meaning a long isn't ready to be taken yet. I posted a 4hr and daily chart earlier as I was in 2 minds as to what to do. In the end I decided not to take a trade. When I look at a chart I first look at where the rsi is in relation to the 50 line. I then check the HMA colour, if they are not in agreement I move on to the next pair. According to the method you cant have one without the other. Cheers Andy
Thank you for the insight.
Begin with the end in mind
  • #364
  • Jun 19, 2019 10:15am Jun 19, 2019 10:15am
Quoting RobinHood
{quote} From Post # 1, you overlooked the suggestion I made below in BOLD. Trading Tips: When using the Crossover or Continuation methods for entries, it is best to enter on the 1st, 2nd, or 3rd candle after the HMA Line crosses the Yellow Line. Otherwise, it is usually better to wait for the next trade set-up. This is because, as Big E used to preach, most often candles only run the same colors for 3-8 bars. When using the Crossover or Continuation methods for entries, ideally, you should only enter if BOTH Stochastic have crossed the Purple 50...
Thank you RH
Begin with the end in mind
  • #365
  • Jun 19, 2019 10:26am Jun 19, 2019 10:26am
Dear all, I need your help to explain this. earlier today at about 8 am my time. I saw a variation in some of the pairs. Please see the images below. Can anyone explain to me what's happening

Thank you.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AUDUSDH4.png Size: 31 KB
Click to Enlarge Name: EURUSD Trade.png Size: 54 KB
Begin with the end in mind
  • #366
  • Jun 19, 2019 11:14am Jun 19, 2019 11:14am
Quoting Luttlebird
Dear all, I need your help to explain this. earlier today at about 8 am my time. I saw a variation in some of the pairs. Please see the images below. Can anyone explain to me what's happening Thank you. {image} {image}
Hi Luttlebird,

That looks like an error with the broker feed price. the Eur/Usd has not been up in the 1.17 area at all !
Who is your broker? If you can, query it with them. I would be concerned if that happened to my account.
To double check the correct level you can always look at www.tradingview.com and click on charts.

cheers
Andy
  • #367
  • Edited 1:27pm Jun 19, 2019 1:12pm | Edited 1:27pm
Here's a suggestion to help you time your entries better...

As I am sure that everyone has experienced, it often seems like right when you enter a trade, the trade immediately goes against you.

Since most traders on this forum didn't previously trade the 4 hr and/or the Daily charts as I suggest, I'll tell you how I usually enter a trade and mostly avoid that issue.

Using the 4 Hr chart to trade (and Template 1) for example, as soon as I get a signal, I look at the Daily chart to see if it's is going in the direction that I want to trade. If it does, then I drop down to a 1 min and 5 min chart to time my entry better. I only enter a trade when both are going in the same direction I want to trade.

And just like everyone else, sometimes I break my own rules, BUT NO MATTER WHAT, I ALWAYS drop down to a 1 min and 5 min chart to time my entries better.
Always a Student, Never a Master - Emulate What Works
  • #368
  • Jun 19, 2019 1:27pm Jun 19, 2019 1:27pm
Quoting kirinda
Long on CADJPY 4H and GBPJPY 4H: {image} {image}

Hi Kirninda- both trades are below the 50 line on the daily charts so this would not be confirmation for RH or myself as per rules to enter long on H4.
  • #369
  • Jun 19, 2019 1:28pm Jun 19, 2019 1:28pm
Guys,

Moreover I have found that the average win ratio for this system is around the 50/50 mark just like any given system. It relies solely on your MM and risk/reward.
I have had some winners with this system (following rules to a tee) but also some losers this week.

Lets keep experimenting and try to find an edge, possibly entering early or using less of the indicators to confirm direction.

Kind regard,
Roni
  • #370
  • Jun 19, 2019 1:49pm Jun 19, 2019 1:49pm
Quoting Roni26
Guys, Moreover I have found that the average win ratio for this system is around the 50/50 mark just like any given system. It relies solely on your MM and risk/reward. I have had some winners with this system (following rules to a tee) but also some losers this week. Lets keep experimenting and try to find an edge, possibly entering early or using less of the indicators to confirm direction. Kind regard, Roni
I wholeheartedly I disagree. That may be your experience, but it's certainly not mine.

If what you are saying was true, then every time my template gives you an entry signal, then you could enter in the opposite direction and have the same results??? That's simply impossible because my template trades in the direction of the trend on the higher time frames and you would be doing the exact opposite, as in trading against the trend. It just makes no sense logically.

Here are the trades I am currently in:

Attached Image (click to enlarge)
Click to Enlarge Name: RH New Trades.png Size: 28 KB
Always a Student, Never a Master - Emulate What Works
  • #371
  • Jun 19, 2019 1:49pm Jun 19, 2019 1:49pm
My 3 losses for this week posted below:

All trades were entered after confirmation close of bar below YELLOW line.


EURUSD H4 chart- Entered short, Checked all indicators again, daily chart's indicators all below 50 line showing short momentum.

CADJPY Daily chart- Entered short, Checked all indicators were past 50 line crossing down and weekly chart indicators also below 50 line. HMA line red.

Eurcad H1 chart- Entered short, Checked H4 chart to make sure all indicators pointing down below 50 line.

And there you have it folks- This is no holy grail, you need put the time and work in to find an edge, regardless of having 10 different indicators on a chart, nothing works like your own trading psyche.

If you guys can give me any critique or how you would have played these trades feel free.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: RH System Loss.PNG Size: 48 KB
Click to Enlarge Name: RH system 3.PNG Size: 52 KB
Click to Enlarge Name: RH system 2.PNG Size: 50 KB
  • #372
  • Jun 19, 2019 2:29pm Jun 19, 2019 2:29pm
EURUSD H4 chart- Entry should have been at about 1.1198, using the trailing stop rule (2 bars back) you would have been stopped out about at about 1.1203, a 5 pip loser.

CADJPY Daily chart- Entry at about 80.90. Stop at 2 bars back 81.25, a loser of about 35 pips.

Eurcad H1 chart- I only suggest that people trade 4 hr. and Daily charts. You traded the 1 Hr chart and so it doesn't count as a loser.

----------------

Trading is like fishing, you have to fish in the right place, you have to use the right bait, and you have to be willing to lose your bait to catch something bigger...like this trade I am currently in below:

Attached Image
Always a Student, Never a Master - Emulate What Works
  • #373
  • Jun 19, 2019 2:44pm Jun 19, 2019 2:44pm
Quoting RobinHood
EURUSD H4 chart- Entry should have been at about 1.1198, using the trailing stop rule (2 bars back) you would have been stopped out about at about 1.1203, a 5 pip loser. CADJPY Daily chart- Entry at about 80.90. Stop at 2 bars back 81.25, a loser of about 35 pips. Eurcad H1 chart- I only suggest that people trade 4 hr. and Daily charts. You traded the 1 Hr chart and so it doesn't count as a loser. ---------------- Trading is like fishing, you have to fish in the right place, you have to use the right bait, and you have to be willing to lose your...

Entry on the EURUSD was at the open of the second red bar bellow yellow line 1.1189 when all other indicators confirmed this- why would it be at the 1.1198 as bar did not open there?
  • #374
  • Jun 19, 2019 2:58pm Jun 19, 2019 2:58pm
Quoting Roni26
My 3 losses for this week posted below: All trades were entered after confirmation close of bar below YELLOW line. EURUSD H4 chart- Entered short, Checked all indicators again, daily chart's indicators all below 50 line showing short momentum. CADJPY Daily chart- Entered short, Checked all indicators were past 50 line crossing down and weekly chart indicators also below 50 line. HMA line red. Eurcad H1 chart- Entered short, Checked H4 chart to make sure all indicators pointing down below 50 line. And there you have it folks- This is no holy grail,...
I think that all your entries were perfect but
1. For the EURUSD trade, you could have exited when the stoch line changed from blue to red. That should have given you a trigger.

2. For the CADJPY, I wouldn't say that is a complete crossover because the HMA line didn't go below the Yellow Line. From the post 1

Crossover Trades:

1.The HMA Line is Lime Green and crosses above the Yellow Line for long trades OR the HMA Line and is Deep Pink and crosses below the Yellow Line for short trades.

2.The candles must have just changed from DodgerBlue/BluetoRed/Orange for short trades or from Red/Orange to Dodger Blue/Blue for long trades.

3.After both #1 and #2 above have occurred, preferably, you want to initiates trade after thrust at has closed on the same side of the Yellow Line as the direction of the trade or on the 2nd or 3rd candle. Entering any later than that is more risky.
Also, one of the stoch line is exiting the 50 line.

3. For the EURCAD trade, i think my explanation on 2 above is applicable.

Like you rightly said, one needs to put the time and work in to find an edge.

Thank you.

Luttlebird
Begin with the end in mind
  • #375
  • Jun 19, 2019 4:49pm Jun 19, 2019 4:49pm
Quoting Roni26
{quote} Entry on the EURUSD was at the open of the second red bar bellow yellow line 1.1189 when all other indicators confirmed this- why would it be at the 1.1198 as bar did not open there?
You don't get a crossing AND a close UNTIL the bar that has the vertical green line on it HAS CLOSED. Then you buy the Open on the next bar which is 1.1198

Attached Image (click to enlarge)
Click to Enlarge Name: EU Trade.JPG Size: 119 KB
Always a Student, Never a Master - Emulate What Works
  • #376
  • Jun 19, 2019 5:31pm Jun 19, 2019 5:31pm
Quoting RobinHood
{quote} I wholeheartedly I disagree. That may be your experience, but it's certainly not mine. If what you are saying was true, then every time my template gives you an entry signal, then you could enter in the opposite direction and have the same results??? That's simply impossible because my template trades in the direction of the trend on the higher time frames and you would be doing the exact opposite, as in trading against the trend. It just makes no sense logically. Here are the trades I am currently in: {image}

Hello RobinHood, Thanks for sharing your system. I'm trying to learn more about your entries. can you explain about your EURJPY entry ? on my chart it is not a sell signal on 4h time frame . thanks in advance and green pips to you

Attached Image (click to enlarge)
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  • #377
  • Jun 19, 2019 6:12pm Jun 19, 2019 6:12pm
Quoting kasrafx
{quote} Hello RobinHood, Thanks for sharing your system. I'm trying to learn more about your entries. can you explain about your EURJPY entry ? on my chart it is not a sell signal on 4h time frame . thanks in advance and green pips to you {image}
I initially got in on a 4 hr chart a while back, then I converted it to a Daily trade. If you look at a Daily chart you should be able to see what I am talking about.
Always a Student, Never a Master - Emulate What Works
  • #378
  • Jun 19, 2019 9:04pm Jun 19, 2019 9:04pm
Hi RH,
When you convert it to daily chart from 4hr chart on EJ, do you mean that you will be following exit rules with daily tf ?


Thanks and regards,
Harnying
  • #379
  • Jun 19, 2019 9:09pm Jun 19, 2019 9:09pm
Quoting harnying
Hi RH, When you convert it to daily chart from 4hr chart on EJ, do you mean that you will be following exit rules with daily tf ? Thanks and regards, Harnying
Yep exactly right
  • #380
  • Jun 19, 2019 9:30pm Jun 19, 2019 9:30pm
Quoting Roni26
My 3 losses for this week posted below: All trades were entered after confirmation close of bar below YELLOW line. EURUSD H4 chart- Entered short, Checked all indicators again, daily chart's indicators all below 50 line showing short momentum. CADJPY Daily chart- Entered short, Checked all indicators were past 50 line crossing down and weekly chart indicators also below 50 line. HMA line red. Eurcad H1 chart- Entered short, Checked H4 chart to make sure all indicators pointing down below 50 line. And there you have it folks- This is no holy grail,...
in your EC trade there is a support then become resistance, for me i wil keep that trade
Attached Image (click to enlarge)
Click to Enlarge Name: EurCad.png Size: 114 KB
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