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  • #581
  • Jun 25, 2019 9:19pm Jun 25, 2019 9:19pm
short eurgbp @ 0.8952
sl@ 0.8994
tp1 @ 0.8880

https://www.tradingview.com/x/YTWb22Tb/
Focus on the process, outcome will come by itself!!!
  • #582
  • Jun 25, 2019 9:23pm Jun 25, 2019 9:23pm
Quoting Roni26
{quote} Hi Kirinda, Not sure which HA candles you are using on the NZDCAD chart but on my chart those candles you entered on are red not blue thus not advocating an entry. In addition to this one of the stochs and RSI is under the 50 line on the daily so again this voids entry rules under RH's method. Roni
Not sure which HA candles you are using on the NZDCAD chart but on my chart those candles you entered on are red not blue thus not advocating an entry.

The entry candle is blue. In the following image there is an green arrow that shows the entry candle:

Attached Image (click to enlarge)
Click to Enlarge Name: 20190626NZDCADH4.png Size: 51 KB


In addition to this one of the stochs and RSI is under the 50 line on the daily so again this voids entry rules under RH's method

The entry was taken based on the entry rule but for 4H.

Anyways, I get stopped out because of a spike from NZD news. Maybe I should be more careful not setting on a new entry only hours before red news?
  • #583
  • Jun 25, 2019 9:32pm Jun 25, 2019 9:32pm
Quoting kirinda
{quote} USDJPY 4H hit my stop loss. GBPNZD 4H is still running and looks good. Put on a new trade for NZDCAD H4: {image}
NZD news did take out my trades: GBPNZD with a small profit profit (used trailing stop loss candle by candle), and NZDCAD my stop loss get hit. Maybe it was wrong to put on NZDCAD trade a couple of hours before red news?
  • #584
  • Jun 25, 2019 9:45pm Jun 25, 2019 9:45pm
USDJPY Jun 26 H4 low risk idea

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY Jun 26 H4 low risk idea 26-06-2019 12-42-36.png Size: 50 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #585
  • Jun 25, 2019 10:12pm Jun 25, 2019 10:12pm
Quoting kirinda
{quote} NZD news did take out my trades: GBPNZD with a small profit profit (used trailing stop loss candle by candle), and NZDCAD my stop loss get hit. Maybe it was wrong to put on NZDCAD trade a couple of hours before red news?
Hi Kirinda, I don't think you should beat yourself for getting in trade before news. You don't need even news to get spiked out. Sometimes spikes are coming from nowhere and if to start restrict yourself from trading on so many occasions , I'm afraid you won't have opportunities even to get in trade. Well this just my opinion
  • #586
  • Jun 25, 2019 10:17pm Jun 25, 2019 10:17pm
Quoting Giedrius
{quote} Hi Kirinda, I don't think you should beat yourself for getting in trade before news. You don't need even news to get spiked out. Sometimes spikes are coming from nowhere and if to start restrict yourself from trading on so many occasions , I'm afraid you won't have opportunities even to get in trade. Well this just my opinion
Giedrius, very good point. I think I will continue to put on trades only based on the setup rules outlined by RoobinHood.
  • #587
  • Jun 25, 2019 10:33pm Jun 25, 2019 10:33pm
Quoting kirinda
{quote} Giedrius, very good point. I think I will continue to put on trades only based on the setup rules outlined by RoobinHood.
on days when there is key news / data release, I would have look at the higher timeframes and see where the established direction is and place y SL above or below the previous 2 days high or low, then do my positions size.

news/events reaction spikes seldom takes out stop more the 2 days high/lows unless there is a change ind direction after the news event.

example below showing H12 tiemframe today, the direction is clear before the news event and after the news hour, the direct has not changed.

Now I can consider to move SL to BE+.

look at previous news candles ... white arrows.

Attached Image (click to enlarge)
Click to Enlarge Name: EURNZD Ju 26 H12 news 26-06-2019 13-26-28.png Size: 58 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #588
  • Jun 25, 2019 10:53pm Jun 25, 2019 10:53pm
Quoting lisat
{quote}Maloney said the Cable H6 entry was not within the rules I think because only one of the indicators was below the 50 line.

Correct. Hes just firing up some uncontrolled demotrades since he showed once again he doesnt know the basics and thinks no one take notice. Dont carring about rules or anything. Strange hobbit.

Lisat many green pips to you, you are one of the good. Im out and dirty enough.



Newbies be warned of emmanuel7788. Hes not true.
  • #589
  • Jun 25, 2019 10:54pm Jun 25, 2019 10:54pm
Quoting emmanuel7788
{quote} on days when there is key news / data release, I would have look at the higher timeframes and see where the established direction is and place y SL above or below the previous 2 days high or low, then do my positions size. news/events reaction spikes seldom takes out stop more the 2 days high/lows unless there is a change ind direction after the news event. example below showing H12 tiemframe today, the direction is clear before the news event and after the news hour, the direct has not changed. Now I can consider to move SL to BE+. look...
news/events reaction spikes seldom takes out stop more the 2 days high/lows unless there is a change ind direction after the news event.

You are right emmanuel, I will not been stopped out this way. But the cost is a large stop loss. For example in the NZDCAD trade (ref post 583)
the size of the stop loss would have been twice the size I used. I think I will continue to use small stop losses (two candle back from entry candle) because over
many trades the spikes doesn't count as much: I have manually back tested this method over many hundred on trades as spikes it's not a problem.
  • #590
  • Jun 25, 2019 11:05pm Jun 25, 2019 11:05pm
Quoting kirinda
{quote} news/events reaction spikes seldom takes out stop more the 2 days high/lows unless there is a change ind direction after the news event. You are right emmanuel, I will not been stopped out this way. But the cost is a large stop loss. For example in the NZDCAD trade (ref post 583) the size of the stop loss would have been twice the size I used. I think I will continue to use small stop losses (two candle back from entry candle) because over many trades the spikes doesn't count as much: I have manually back tested this method over many hundred...

the cost or the risk is the same when you use Position Sizing.

if you risk say $500 per trade, then if the SL is 80 pips and say trade size 0.2 lot you lose more trades due to the volatility.

if your risk same $500 per trade , then if the SL is 160 pips and trade size 0.1 lot you reduce the trade lot size and you will win more trades over longer term.

that's the basic principle using %Risk and Position Sizing.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #591
  • Jun 25, 2019 11:13pm Jun 25, 2019 11:13pm
EURJPY Jun 26 H4 waiting for the HMA to cross the 5EMA, then check the Stochastics ... but be careful with the RSI .

Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY Jun 26 H4 waiting 26-06-2019 14-09-55.png Size: 44 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #592
  • Jun 25, 2019 11:51pm Jun 25, 2019 11:51pm
AUDJPY Jun 26 nice going as Frankfurt open

locked positions at BE+ profits... add-on with no loss situation and can sit back relax.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDJPY Jun 26 nice going 26-06-2019 14-48-33.png Size: 52 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #593
  • Jun 26, 2019 12:25am Jun 26, 2019 12:25am
Quoting emmanuel7788
EURJPY Jun 26 H4 waiting for the HMA to cross the 5EMA, then check the Stochastics ... but be careful with the RSI . {image}
EURJPY Jun 26 H4 London session

with 1 hour 37 mins to go, it is looking good.

but I am caution when Tokyo closes and the European traders take control...

take a small risk and decide Go/No-Go

Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY Jun 27 H4 1h37m to go 26-06-2019 15-21-37.png Size: 50 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #594
  • Jun 26, 2019 12:59am Jun 26, 2019 12:59am
Quoting Bluejay12
{quote} see attached that is the small arrow in my chart. the large arrow is a paid one on license from my friends mentor...all no repaint or shift or extend with price {file}
Thank you
  • #595
  • Jun 26, 2019 2:03am Jun 26, 2019 2:03am
Quoting emmanuel7788
{quote} EURJPY Jun 26 H4 London session with 1 hour 37 mins to go, it is looking good. but I am caution when Tokyo closes and the European traders take control... take a small risk and decide Go/No-Go {image}

EURJPY jun 26 H4 Tokyo closed.

Not convincing with the H4 price pulled back .
HMA cross 5EMA... good but ...
RSI(14) and Stoch(14,3,3) also not looking the best at that last H4 closed.

No trade.
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY Jun 26 h4 Tokyo closed 26-06-2019 16-59-35.png Size: 51 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #596
  • Edited 3:01am Jun 26, 2019 2:45am | Edited 3:01am
Quoting emmanuel7788
{quote} the cost or the risk is the same when you use Position Sizing. if you risk say $500 per trade, then if the SL is 80 pips and say trade size 0.2 lot you lose more trades due to the volatility. if your risk same $500 per trade , then if the SL is 160 pips and trade size 0.1 lot you reduce the trade lot size and you will win more trades over longer term. that's the basic principle using %Risk and Position Sizing.
emmanuel, it's not that simple. Your winning % will go up but at the same time your winners will be smaller compare to the risk you take(I use the HMA color change as exit method).

To illustrate my point I back tested NZDCAD 4H from 01.04 until today. I use HMA color change as exit rule.
Every trade is descried with reward/risk ((number of pips in profit or loss)/number of pips to stop loss).
For example if number of pips to stop loss is 40 and I exit the trade with -9 pips the reward/risk will be -0.22. Or if the stop loss
is 40 pips and I exit the trade with +40 pips the reward/risk will be 1.0.

Here is the result of a backtest
0.79, 0.28,-0.09,-0.32,0.4,-0.19,0.1,0.13,0.11,1.62,3.5,-0.44,0.4,1.01,0.35,0.09,-1.0(hit initial stop loss)
I got 17 trades and only 1 trade (this was the news spike yesterday) hit my initial stop loss that is 2 candles back from entry candle.
Even if this back test is limited it conform that news spikes have little effect over many trades for this trading method.

If I increase my stop loss to avoid news spikes hit it I will increase my winning % a little bit but at the same time earn less money.
  • #597
  • Jun 26, 2019 2:56am Jun 26, 2019 2:56am
Quoting kirinda
{quote} emmanuel, it's not that simple. Your winning % will go up but at the same time your winners will be smaller compare to the risk you take(I use the HMA color change as exit method). To illustrate my point I back tested NZDCAD 4H from 01.04 until today. I use HMA color change as exit rule. Every trade is descried with reward/risk ((number of pips in profit or loss)/number of pips to stop loss). For example if number of pips to stop loss is 40 and I exit the trade with -9 pips the reward/risk will be -0.22. Or if the stop loss is 40 pips and...
Great post. logical conclusion. Thank You.

Best regards
  • #598
  • Jun 26, 2019 3:20am Jun 26, 2019 3:20am
AUDJPY 4H long trade

Attached Image (click to enlarge)
Click to Enlarge Name: 20190626AUDJPYH4.png Size: 60 KB
  • #599
  • Jun 26, 2019 3:43am Jun 26, 2019 3:43am
Hi guys,

I put short trades in last night on the Daily candle open for Gbpjpy and Gbpcad, I closed out Gbpcad for 40 pips but Gbpjpy hit my stop. Was supposed to be a continuation trade.

Just goes to show you there are losses in this method and it isnt 'the holy grail' that some traders would like to think.

Roni
  • #600
  • Jun 26, 2019 3:44am Jun 26, 2019 3:44am
I am getting quite a few private messages complaining about some people being insulting, bickering, or just being outright rude.

I didn't start this thread to have to read this type of stuff every day and I'm sure that the vast majority of others here who don't want to read it either.

It brings a negative vibe to the tread and it has to stop.

So in the future, if you are intentionally rude or insulting, you will be placed on ignore without warning.
Always a Student, Never a Master - Emulate What Works
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