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Trading Made Simple(r)

  • #601
  • Edited 7:01am Jun 26, 2019 6:01am | Edited 7:01am
hey guys beside entering a little late, do u think its valid enter
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  • #602
  • Jun 26, 2019 6:12am Jun 26, 2019 6:12am
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...

but you need to consider better Reward to Risk and the positive Expectancy in the longer term.
your exit strategy will determine the reward.

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #603
  • Jun 26, 2019 6:16am Jun 26, 2019 6:16am
Quoting Roni26
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

its too early to make any conclusion now.

do the first 100 trades, then 200 trades, then 300 trades then only you will get a better feel of the method. you need to fine tune as you progress along.

entry is important, find setups with higher probability.

exit is more important as it will decide your Expectancy.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #604
  • Jun 26, 2019 6:31am Jun 26, 2019 6:31am
Quoting emmanuel7788
{quote} but you need to consider better Reward to Risk and the positive Expectancy in the longer term. your exit strategy will determine the reward. {image}
Actually, I traded like you describe with a fix risk:reward 1:2 with break even after 1R. That's okay. With RooobinHood exit methods (for example color change one 2 or more indicators) you will often take small profit even if the price turn early back, in addition sometimes you will get runners that it's much bigger than 2R.
  • #605
  • Jun 26, 2019 6:40am Jun 26, 2019 6:40am
Quoting kirinda
{quote} Actually, I traded like you describe with a fix risk:reward 1:2 with break even after 1R. That's okay. With RooobinHood exit methods (for example color change one 2 or more indicators) you will often take small profit even if the price turn early back, in addition sometimes you will get runners that it's much bigger than 2R.
That's exactly what I have found and why I like these methods better than anything else.
Always a Student, Never a Master - Emulate What Works
  • #606
  • Jun 26, 2019 6:42am Jun 26, 2019 6:42am
Quoting kirinda
{quote} Actually, I traded like you describe with a fix risk:reward 1:2 with break even after 1R. That's okay. With RooobinHood exit methods (for example color change one 2 or more indicators) you will often take small profit even if the price turn early back, in addition sometimes you will get runners that it's much bigger than 2R.
So the more profitable version is to not have fixed targets ?

Best regards
  • #607
  • Jun 26, 2019 7:07am Jun 26, 2019 7:07am
I appreciate the discussion on money management. Thank you.
  • #608
  • Jun 26, 2019 7:12am Jun 26, 2019 7:12am
Quoting jgadefelth
{quote} So the more profitable version is to not have fixed targets ? Best regards
I don't use profit targets because NO ONE has any idea how long a trend will last, AND trends are where you make the most money. They pay for your losers and can give you VERY large profits.

I ALWAYS make the market take me out of a trade by way of 2 or 3 (or more) of the 7 indicators turning in the opposite direction.

The reasoning is, the best trades never look back until they are over.

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Always a Student, Never a Master - Emulate What Works
  • #609
  • Jun 26, 2019 7:17am Jun 26, 2019 7:17am
I bailed on CADJPY and EURCAD after the open last evening. I did not believe that USDCAD would support those trades and the lower timeframes were wobbling badly.

I have to leave my old mental baggage at the door.

Still short GBPCAD but only partial, for the same reason (my USDCAD "belief")

Individually these trades are very strong entries up to the weekly timeframes.

I'm not used to entries at the open in the horrible slow stuff, so I have to work on that.
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  • #610
  • Jun 26, 2019 7:19am Jun 26, 2019 7:19am
Quoting mirzka
hey guys beside entering a little late, do u think its valid enter {image}
I am in this, a little earlier than you, but might get out before the news.
  • #611
  • Jun 26, 2019 7:35am Jun 26, 2019 7:35am
What yesterday was looking good, solid trade, today got hit SL while at work. If I would trail SL candle after candle I wouldn't loose at all.!?
Problem is I'm at work big part of day . I'll be need to think something.
If I may ask how rest of you managed this trade ? If anybody can share. I know I wasn't alone in it . Thank you
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  • #612
  • Edited 8:01am Jun 26, 2019 7:49am | Edited 8:01am
Quoting Giedrius
What yesterday was looking good, solid trade, today got hit SL while at work. If I would trail SL candle after candle I wouldn't loose at all.!? Problem is I'm at work big part of day . I'll be need to think something. If I may ask how rest of you managed this trade ? If anybody can share. I know I wasn't alone in it . Thank you {image}
1. You have your Heiken Ashi and Synergy_APB backwards. You need to fix that. The darker blue should be on top of the lighter blue and the darker red needs to be on top on the lighter red. This IS important because they are used in conjunction with each other as an IMPORTANT indicator.

2. Regarding your trade, you entered one bar late and that cost you about 20-30 pips from the best I can tell. Regarding your exit, as soon as you had those 2 blue bars close above the Yellow Line and the HMA Line turned green, you should have exited. Had you exited at that point, you would have had a small profit instead of a small loss.

3. Due to your work restraints, why not switch to trading the Daily charts and then maybe you won't have as many trading issues.

4. Should you switch to the Daily charts, DO NOT EVER ENTER any trades during the first hour after the market opens because that's when they will screw you terribly on the spread. Enter a few minutes before the Open OR at least one full hour after the Open. But however you do it, you should be consistent with which way you do it.
Always a Student, Never a Master - Emulate What Works
  • #613
  • Jun 26, 2019 8:28am Jun 26, 2019 8:28am
Dear Robinhood
How can i upload the Zip file (7 indicators) to my MT4 platform. Kindly guide me.
  • #614
  • Jun 26, 2019 8:32am Jun 26, 2019 8:32am
Quoting RobinHood
{quote} 1. You have your Heiken Ashi and Synergy_APB backwards. You need to fix that. The darker blue should be on top of the lighter blue and the darker red needs to be on top on the lighter red. This IS important because they are used in conjunction with each other as an IMPORTANT indicator. 2. Regarding your trade, you entered one bar late and that cost you about 20-30 pips from the best I can tell. Regarding your exit, as soon as you had those 2 blue bars close above the Yellow Line and the HMA Line turned green, you should have exited. Had...
Thanks for clearing the air RH . Do you have any idea why Heiken Ashi and ABP are backwards on my charts , what I did wrong? Cause I don't have a clue.!

Thank you
  • #615
  • Jun 26, 2019 8:33am Jun 26, 2019 8:33am
Quoting jgadefelth
{quote} So the more profitable version is to not have fixed targets ? Best regards
I do not know what methods is more profitable (I don't know because I haven't back tested and compared these methods), but it's also about what you
feel comfortable with.
  • #616
  • Jun 26, 2019 8:41am Jun 26, 2019 8:41am
Quoting Giedrius
{quote} Thanks for clearing the air RH . Do you have any idea why Heiken Ashi and ABP are backwards on my charts , what I did wrong? Cause I don't have a clue.! Thank you
1. Go to your Indicator list and delete the Heiken Ashi.

2. Reinsert the Heiken Ashi and change the settings to exactly what is in the image:

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3. Then save the # 1 template again so the settings will always be correct each time you insert the template on a new chart.
Always a Student, Never a Master - Emulate What Works
  • #617
  • Jun 26, 2019 8:45am Jun 26, 2019 8:45am
Thank you RH.....
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  • #618
  • Jun 26, 2019 8:48am Jun 26, 2019 8:48am
Quoting juantrader
Thank you RH..... {image} {image} {image}
You're welcome! Good Job!
Always a Student, Never a Master - Emulate What Works
  • #619
  • Jun 26, 2019 8:54am Jun 26, 2019 8:54am
Quoting RobinHood
{quote} I don't use profit targets because NO ONE has any idea how long a trend will last, AND trends are where you make the most money. They pay for your losers and can give you VERY large profits. I ALWAYS make the market take me out of a trade by way of 2 or 3 (or more) of the 7 indicators turning in the opposite direction. The reasoning is, the best trades never look back until they are over. {image}

If you have tried bouth and then you can say its ok, but otherwise i can use the same argument that you never know how long a trade will last so take the 2 r that you got before it turns on you. For this strategy and for forex maybe your reasoning is true but when i played with stocks the trailing stop was giving lower performance compared to target. I used a trailing stop as a test for stocks.

Best regards
  • #620
  • Jun 26, 2019 8:59am Jun 26, 2019 8:59am
Quoting RobinHood
{quote} You're welcome! Good Job!

Hi RH,

Can you please advise on what was wrong with my GBPJPY short on the daily candle today, I checked weekly, all indicators were below 50 line and so was the daily timeframe. All fo a sudden it just shot up on me and now im am holding with a -60pip loss. Your rules were followed to a tee, Just a case of a losing trade?

This system is not any better than the Trading made simple system created by BIG E in my opinion. I have had about 60 trades with this system, win ratio has been good but the drawdown on the losers especially off daily charts is substantial.

There needs to be a SOLID exit strategy to retain profits, not just "I use a combination of 10 different indicators to exit"- And by any means this is not a dig at your or anyone, Just generally speaking.


Roni
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