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Trading Made Simple(r)

  • #381
  • Jun 20, 2019 12:14am Jun 20, 2019 12:14am
Hi,
Would like to ask on USDCAD, H4 had already crossed 10 candle back, and Day just crossed today, do you wait for h4 to pullback then crossed down then only enter ?
another thing is Week just crossed downtrend, we can use Day down and week down to enter short ?
Which is better option, i am thinking if we use Day to enter, then the SL would be a huge one.


Thanks and regards,
Harnying
Attached Image(s) (click to enlarge)
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  • #382
  • Jun 20, 2019 12:26am Jun 20, 2019 12:26am
Quoting harnying
Hi, Would like to ask on USDCAD, H4 had already crossed 10 candle back, and Day just crossed today, do you wait for h4 to pullback then crossed down then only enter ? another thing is Week just crossed downtrend, we can use Day down and week down to enter short ? Which is better option, i am thinking if we use Day to enter, then the SL would be a huge one. Thanks and regards, Harnying {image} {image}
Hi, my take on this is that it's better to stick with H4 entry's in the beginning. Your SL will be a lot smaller and will cause you to not back out early of a trade if you see it go against you. I believe the June 19th 00.00 candle on your H4 chart was the ideal entry. The Daily still had a Blue candle, but the RSI was below 50.
  • #383
  • Jun 20, 2019 2:42am Jun 20, 2019 2:42am
I apologize for my English, I write through Google translate. So, having spent a small backtesting, I found for myself the best setup of the entry point. Trade is conducted in the direction of the daily trend. Sample for sale:
1. All indicators (stochastics and RSI) are below level 50.
2. As soon as the Blue and Doger Blue candle appears on the daily chart and closes the day, I switch to the H4 chart.
3. On the H4 chart I enter according to the system rules.
4. The presence of divergence on the H4 chart is welcome.
5. I am waiting for a signal on the H4 chart until the indicators on the daily chart (stochastics and RSI) cross the level 50 in the opposite direction. If this happens, the signal is canceled.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USDCHFDaily.png Size: 66 KB
Click to Enlarge Name: USDCHFH4.png Size: 76 KB
  • #384
  • Jun 20, 2019 3:47am Jun 20, 2019 3:47am
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
Yes
Always a Student, Never a Master - Emulate What Works
  • #385
  • Jun 20, 2019 4:09am Jun 20, 2019 4:09am
Here are most of the trades that I am currently in:

Attached Image (click to enlarge)
Click to Enlarge Name: RH Trades 6-20-19.PNG Size: 176 KB


I show these trades to give aspiring traders who may be struggling inspiration and to prove that my methods work.
Always a Student, Never a Master - Emulate What Works
  • #386
  • Jun 20, 2019 5:04am Jun 20, 2019 5:04am
Hi Robin,
Question to Nzdusd pair, daily stoch is not crossed yet and only RSI crossed and we do not need the HMA to crossed MA, it just candle open above HA/yellow line consider good ?


Regards and thanks,
harnying
  • #387
  • Edited 5:46am Jun 20, 2019 5:12am | Edited 5:46am
Quoting harnying
Hi Robin, Question to Nzdusd pair, daily stoch is not crossed yet and only RSI crossed and we do not need the HMA to crossed MA, it just candle open above HA/yellow line consider good ? Regards and thanks, harnying
As I have said from the beginning, the only real rules are the rules YOU make for yourself. The rules I normally use are all in Post # 1. Remember, these are methods, not a system.

I use to write (and sell or lease) VERY, VERY EXPENSIVE trading systems many years ago (mostly for brokers to use to trade for their clients by paying me a monthly subscription fee per client) and it's been my experience that virtually no trader (or broker) can follow the rules of a trading system precisely. It's like traders are just compelled to change something such as: the entry, the initial stop, the trailing stop, the trading size, the exit, the money management, etc. That's why I use methods and not a system, because just like every other trader, I don't always follow my own rules either. Like yesterday, when I read a story about Trump that he might start a currency war with Europe. I was in 4 EUR pairs and I decided to bail on most of them just because I didn't want that much exposure and the possible huge downside risk.

Amateur traders ask themselves "How much money can I MAKE?"

Professional traders ask themselves "How much money can I LOSE?"

That's why I ALWAYS place a stop as soon as I enter a trade, and I NEVER enter a profit target (when using these methods).
Always a Student, Never a Master - Emulate What Works
  • #388
  • Jun 20, 2019 5:17am Jun 20, 2019 5:17am
Quoting RobinHood
{quote} As I have said from the beginning, the only real rules are the rules YOU make for yourself. The rules I normally use are all in Post # 1. Remember, these are methods, not a system.
thanks, let me reread again
  • #389
  • Jun 20, 2019 8:11am Jun 20, 2019 8:11am
Quoting dimon79ua
I apologize for my English, I write through Google translate. So, having spent a small backtesting, I found for myself the best setup of the entry point. Trade is conducted in the direction of the daily trend. Sample for sale: 1. All indicators (stochastics and RSI) are below level 50. 2. As soon as the Blue and Doger Blue candle appears on the daily chart and closes the day, I switch to the H4 chart. 3. On the H4 chart I enter according to the system rules. 4. The presence of divergence on the H4 chart is welcome. 5. I am waiting for a signal on...
It looks like you have some good trades so far. Well done!
Always a Student, Never a Master - Emulate What Works
  • #390
  • Jun 20, 2019 10:09am Jun 20, 2019 10:09am
Quoting RobinHood
Here are most of the trades that I am currently in: {image} I show these trades to give aspiring traders who may be struggling inspiration and to prove that my methods work.
2864 pips? e_e , u seem to like trade exotic pair?
  • #391
  • Edited 11:32am Jun 20, 2019 11:12am | Edited 11:32am
Quoting trieuVhh
{quote} 2864 pips? e_e , u seem to like trade exotic pair?
I'll trade any pair that moves. Concerning the exotic pairs, often times I have no idea what currency one of the pairs is. I just know that most of the time one of them is the USD.
Always a Student, Never a Master - Emulate What Works
  • #392
  • Jun 20, 2019 11:42am Jun 20, 2019 11:42am
This currency strength dashboard is a bit different from the usual spaghetti lines and has an alert function to give a heads up as to checking out a pair to see if there's a trade opportunity using the TMS(r) system.

Quoting honestknave
Version: 1.29 Expiry: 31 December 2019 Wishing success to all! {file}
  • #393
  • Edited 12:09pm Jun 20, 2019 11:44am | Edited 12:09pm
Quoting Zimbinga
This currency strength dashboard is a bit different from the usual spaghetti lines and has an alert function to give a heads up as to checking out a pair to see if there's a trade opportunity using the TMS(r) system. {quote}
Thank you, I have it, but you must be very careful when using it.
Attached Image (click to enlarge)
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  • #394
  • Jun 20, 2019 12:01pm Jun 20, 2019 12:01pm
Here, example of the USD/CHF pair in daily with the Csdash and Robinhood template
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  • #395
  • Jun 20, 2019 12:46pm Jun 20, 2019 12:46pm
Hi,

Just started using this system, would it be possible to add an email/ push notification alert to HMA indicator when colour changes.


Thanks
T
  • #396
  • Jun 20, 2019 12:57pm Jun 20, 2019 12:57pm
Example where the pair GBPJPY is about to cross the purple 50 line to be able to place a short order in H4, although in the Daily, the color of the candles are in blue yet. The trend is clearly bearish, and the dash also promotes short. RobinHood may you check this please? Thank you
Attached Image (click to enlarge)
Click to Enlarge Name: DASH.png Size: 431 KB
  • #397
  • Edited 2:51pm Jun 20, 2019 2:24pm | Edited 2:51pm
Quoting RobinHood
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...
hi. excuse me.

when at h1 we had signal we must look to daily.

then m1 v m5 confirmation?


exit in h4?
  • #398
  • Jun 20, 2019 2:37pm Jun 20, 2019 2:37pm
Quoting juantrader
Example where the pair GBPJPY is about to cross the purple 50 line to be able to place a short order in H4, although in the Daily, the color of the candles are in blue yet. The trend is clearly bearish, and the dash also promotes short. RobinHood may you check this please? Thank you {image}
Taking a 4 hr. trade that is going against the Daily trend often works because the 4 hr. chart has to turn before the daily chart does, but it's more risky. Each trader has to decide which way suits them best.
Always a Student, Never a Master - Emulate What Works
  • #399
  • Edited 2:51pm Jun 20, 2019 2:41pm | Edited 2:51pm
Quoting amiralifx
{quote} hi. excuse me. when at h1 we had signal we must look to daily. then m1 v m5 confirmation?
I don't ever trade using the 1 hr. chart (or even ever look at it) nor do I suggest you take trades from one. But if you are going to do it, technically you really only need to go up one time frame, which in this case is a 4 hr. chart. And then use m1 v m5 to fine tune the entry.
Always a Student, Never a Master - Emulate What Works
  • #400
  • Jun 20, 2019 6:53pm Jun 20, 2019 6:53pm
Timeframes are all tradeable... The problem is focus your strategy...
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