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  • #701
  • Jun 28, 2019 6:13am Jun 28, 2019 6:13am
Quoting handysniper
"Herne" (Big E) protect us...we are following RobinHood... Thank you for this great method.
You're welcome and best of luck to you!
Always a Student, Never a Master - Emulate What Works
  • #702
  • Jun 28, 2019 6:18am Jun 28, 2019 6:18am
Hi RobinHood,

Been following this thread since the beginning. Thanks for all your time and patience helping everyone.

I sold USDCHF on the crossover. Daily chart is also in downtrend, and this appears to be a continuation down after pullback on daily.

I would appreciate any feedback on this trade. Thank you!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USDCHFH4.png Size: 23 KB
Click to Enlarge Name: USDCHFDaily.png Size: 20 KB
"Be the change that you wish to see in the world." --Gandhi
  • #703
  • Jun 28, 2019 6:29am Jun 28, 2019 6:29am
For those of you who are struggling with trading profitably, I would suggest that you ONLY trade Continuation Trades for a while. Once you get good at them, THEN you can start trading Crossover trades also (if you want to). The chart below shows 3 Continuation trades.

Attached Image (click to enlarge)
Click to Enlarge Name: 3 Continuation Trades.PNG Size: 73 KB
Always a Student, Never a Master - Emulate What Works
  • #704
  • Jun 28, 2019 6:35am Jun 28, 2019 6:35am
I moved SL to just above H1 resistance. The trade went to 38 pips overnight. All GBP pairs are positive in M1 to H1.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPCHF.proH4.png Size: 65 KB
  • #705
  • Jun 28, 2019 6:43am Jun 28, 2019 6:43am
Quoting Wally1953
Hi RobinHood, Been following this thread since the beginning. Thanks for all your time and patience helping everyone. I sold USDCHF on the crossover. Daily chart is also in downtrend, and this appears to be a continuation down after pullback on daily. I would appreciate any feedback on this trade. Thank you! {image} {image}
There's not much I can say about it other than you entered correctly and you should not be using profit targets (unless you are going to trade 3 units (or more) and exit at predetermined spots along the way like I explained in detail in post 112 on page 6).

You need to develop the mindset that "you never know how far a move will go". You should be willing to ALWAYS give some pips back by way of "the indicators reversing" to take you out of every trade INSTEAD of YOU picking some arbitrary spot to get out.

By far and away, riding a trend is where most of the money is made for most traders.
Always a Student, Never a Master - Emulate What Works
  • #706
  • Jun 28, 2019 6:53am Jun 28, 2019 6:53am
6 Continuation Trades

How much easier can trading get than this ???

Attached Image (click to enlarge)
Click to Enlarge Name: 6 Continuation Trades.PNG Size: 86 KB
Always a Student, Never a Master - Emulate What Works
  • #707
  • Jun 28, 2019 6:54am Jun 28, 2019 6:54am
Quoting RobinHood
6 Continuation Trades How much easier can trading get than this ??? {image}

Yes it is easy on the pics a perfect trend, but not so easy in sideways markets

Best regards
  • #708
  • Jun 28, 2019 6:54am Jun 28, 2019 6:54am
Quoting RobinHood
{quote} There's not much I can say about it other than you entered correctly and you should not be using profit targets (unless you are going to trade 3 units (or more) and exit at predetermined spots along the way like I explained in detail in post 112 on page 6). You need to develop the mindset that "you never know how far a move will go". You should be willing to ALWAYS give some pips back by way of "the indicators reversing" to take you out of every trade INSTEAD of YOU picking some arbitrary spot to get out. By far and away, riding a trend...
I've been using 1:1 risk:reward for years and am just a breakeven trader, so I will take your advice and try to ride the trends longer watching indicators for exit.
"Be the change that you wish to see in the world." --Gandhi
  • #709
  • Jun 28, 2019 6:59am Jun 28, 2019 6:59am
Quoting jgadefelth
{quote} Yes it is easy on the pics a perfect trend, but not so easy in sideways markets Best regards
NOTHING is easy in a sideways market...except for losing.
Always a Student, Never a Master - Emulate What Works
  • #710
  • Jun 28, 2019 7:03am Jun 28, 2019 7:03am
Quoting Wally1953
{quote} I've been using 1:1 risk:reward for years and am just a breakeven trader, so I will take your advice and try to ride the trends longer watching indicators for exit.
1:1 doesn't work in trading. You need at least 1:1.5 and preferably 1:2 or more.

Read post 112 on page 6 if you want use "risk to reward". It's a really good method.
Always a Student, Never a Master - Emulate What Works
  • #711
  • Jun 28, 2019 7:43am Jun 28, 2019 7:43am
Quoting Roni26
Went LONG on Gold as per rules- looking like a loser. Lol third losing trade of the week amongst winners. Average method/system at best. Good on you guys who are knocking down pips- keep it up. Roni {image}
Your still in the trade though, never say it's over till it's over! I see the hma on the daily has just turned red so maybe that was the warning sign that this trade was going to make you sweat a bit?

Good luck,
  • #712
  • Jun 28, 2019 8:18am Jun 28, 2019 8:18am
Long GU. Watching for entry on EJ also on continuation trade.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD.proH4.png Size: 59 KB
  • #713
  • Jun 28, 2019 8:39am Jun 28, 2019 8:39am
Quoting lddd
{quote} Thanks. Well, from my experience so far nearly all forex pairs nowadays tend to range, move sideways quiet slow for about most of the time. Thats were i had lots of trouble with like said either hitting my targets or not getting into a trade where it just starts another side says period. I guess this is a real problem for trading a trend mythology approach, isn’t it? So selecting the right markets to trade seems to be essentially important especially if you don’t want to hold positions over several day or weeks to make a few pips. I know...

Thanks. Well, from my experience so far nearly all forex pairs nowadays tend to range, move sideways quiet slow for about most of the time. Thats were i had lots of trouble with like said either hitting my targets or not getting into a trade where it just starts another side says period. I guess this is a real problem for trading a trend mythology approach, isn’t it?

YES

So selecting the right markets to trade seems to be essentially important especially if you don’t want to hold positions over several day or weeks to make a few pips. I know there might be no general way of how to handle this but maybe some experienced trader like you or anyone else here could give some suggestions to me what to look out for.

While learning I would only trade any of these 4 pairs: EURUSD, GBPUSD, AUDUSD and USDJPY.

I also think it’s important to focus on just one market to get a feeling for the rhythm of price action which would lead me to the next questions. Is trading just one forex pair here enough to end up positive for let’s say +50 pips on average per trading week. I mean will there be enough setup here following your method on the H4/Daily even though low volatile times?

YES

I am located in the EU and my main active trading time would be from London open including the first 2-3 hours of the NY session perhaps. I am not looking for massive amounts of pips, only single entry/exit trades at a 1:2 or 1:3 risk reward ratio would be fine. So maybe trading the M15 or even lower for watching one chart here following your method could be enough to realize my goals, what is your experience here?

Mainly I don't do it very often because it's usually stressful and exhausting.

I am just not sure how many „false“ signals the indicators here tend to produce, if it would be only 50/50 i guess it would become pretty hard to stay consistently profitable like that over the year by having to filter out tons of bad signals like i struggle with the TMS and TDI already on.

There are no bad signals using these indicators in the ways I suggest. The trades either make a profit or they don't. It's really just that simple.

Here's an analogy...

A pilot is flying a plane by the instruments ONLY, and all of them are in PERFECT WORKING ORDER, then a bird flies into the prop causing the engine to stall and the plane to crash. Are you going to blame the instruments for the crash?

In trading, just like most things in life, unforeseen events happen and so the best you can do is play the cards that you were dealt as best you can...AND THEN MOVE ON.

Sorry for so many questions, I am just highly interested in improving my trading and your method for entry/exit seem to be „easy“ and less confusing here just not sure how to deal with everything else but will give it a forward test soon (I am currently traveling). Regards again.
Always a Student, Never a Master - Emulate What Works
  • #714
  • Jun 28, 2019 9:03am Jun 28, 2019 9:03am
Long GJ
Attached Image (click to enlarge)
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  • #715
  • Jun 28, 2019 9:47am Jun 28, 2019 9:47am
I know is Friday and G20 , entrance and exit most important . Would you call continuation or crossover , RSI never crossed purple line. Is possible wont be much continuation. Opinions welcome, please . We learn from this.Thank you
Attached Image (click to enlarge)
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  • #716
  • Jun 28, 2019 10:00am Jun 28, 2019 10:00am
Quoting Giedrius
I know is Friday and G20 , entrance and exit most important . Would you call continuation or crossover , RSI never crossed purple line. Is possible wont be much continuation. Opinions welcome, please . We learn from this.Thank you {image}
That would have to be classed as a continuation as a sell was never indicated because the rsi stayed above the 50 line. Markets aren't going to go anywhere untill after the G20
  • #717
  • Jun 28, 2019 10:00am Jun 28, 2019 10:00am
This I closed yesterday dragging SL from candle to candle . To be honest I don't know what is best way to close trade, with best return and smallest possibility that something can go wrong +70pips
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDH4.png Size: 93 KB
  • #718
  • Jun 28, 2019 10:28am Jun 28, 2019 10:28am
Quoting Giedrius
I know is Friday and G20 , entrance and exit most important . Would you call continuation or crossover , RSI never crossed purple line. Is possible wont be much continuation. Opinions welcome, please . We learn from this.Thank you {image}
It's a Crossover Trade. I almost never pay attention to the news BUT this G20 event could possibly cause big market gyrations and so I closed all of my trades and won't trade any more today.
Always a Student, Never a Master - Emulate What Works
  • #719
  • Jun 28, 2019 11:00am Jun 28, 2019 11:00am
Quoting RobinHood
{quote} It's a Crossover Trade. I almost never pay attention to the news BUT this G20 event could possibly cause big market gyrations and so I closed all of my trades and won't trade any more today.
Hi RH, you will have to explain to me how that's classed as a crossover?
From what I understand, a sell shouldn't have been taken as the rsi never fell below 50. Therefore to my mind that's a continuation trade?

Have I misunderstood something?

Cheers
Andy
  • #720
  • Jun 28, 2019 11:03am Jun 28, 2019 11:03am
Quoting Giedrius
I know is Friday and G20 , entrance and exit most important . Would you call continuation or crossover , RSI never crossed purple line. Is possible wont be much continuation. Opinions welcome, please . We learn from this.Thank you {image}
Hi Giedrius
Here is my idea, what do you think?
IMO, TMSr is a trend trading strategy, so in choppy market type, we can get some false signals. In your chart, we have a consolidation/ narrow range with flat MA, so I will wait for the price to break out this range before setting any order. It's safer I think.
Thank you
Attached Image (click to enlarge)
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