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Trading Made Simple the right way, and other trading lessons 334 replies

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Trading Made Simple(r)

  • #1,021
  • Jul 4, 2019 2:01am Jul 4, 2019 2:01am
Quoting PhillipmC
not long until candle closes anyone looking to enter ? {image}
Yes I have, you?
  • #1,022
  • Jul 4, 2019 2:03am Jul 4, 2019 2:03am
Quoting martbac
{quote} Yes I have, you?
the only thing is its a big candle and i might look on the 5 min see if it pulls back a little. then enter on the break of the trend line
  • #1,023
  • Jul 4, 2019 3:07am Jul 4, 2019 3:07am
Quoting emmanuel7788
{quote} New HA and APB versions OK. I will work on versions for this thread where you can input your own variables - colours, candle size, zoom factor, HA overlay APB, etc. Please wait till next weekend. Today and tomorrow I am busy attending a trading course by a CME trainer on E-Mini futures and US markets prep for 2020. Have fun trading today US Bank holiday and tomorrow is NFP.
Thank you, much appreciated. Wish I could attend that CME session also.
  • #1,024
  • Jul 4, 2019 3:31am Jul 4, 2019 3:31am
is good?
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  • #1,025
  • Jul 4, 2019 5:08am Jul 4, 2019 5:08am
Quoting unmaskedluke
is good? {image}
No, it's actually pretty risky. You should have checked the next high TF. Since you are trading of a 1 hour chart, you must also check what the 4 hour chart is telling you. And what it's telling you is that the RSI is still well above 50, which is putting your short at risk because it's counter-trend.
  • #1,026
  • Jul 4, 2019 5:15am Jul 4, 2019 5:15am
Quoting Jan81
{quote} No, it's actually pretty risky. You should have checked the next high TF. Since you are trading of a 1 hour chart, you must also check what the 4 hour chart is telling you. And what it's telling you is that the RSI is still well above 50, which is putting your short at risk because it's counter-trend.
But if you used the exit rule of 2 or 3 color changes on the indicators, I guess you are already out of the trade and it was only a loss of a couple of pips.

Like a few others here I'm in a NZDCAD trade today. If you take a look on the next high TF it is also telling the trend is down.
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  • #1,027
  • Jul 4, 2019 7:15am Jul 4, 2019 7:15am

  1. [quote]emmanuel7788[/quote][quote][/quote][quote]
  2. Joined Nov 2008 | Status: Member | 21,059 Posts[/quote]

Quote
London 6AM

H1 CrossOver trade setup conditions.

USDJPY. EURNZD and GBPNZD

Post your H1 charts and share your thoughts which pair you pick to trade.

Hi, emmanuel, are you trading from the 1 hour timeframe now ?, and if it is...you adjusted some of the Indicators?, specially the stochs settings ?

Thanks
"Great Men are not born great, They Grow Great."
  • #1,028
  • Jul 4, 2019 11:30am Jul 4, 2019 11:30am
Quoting MyProfit
[list] [url="https://www.forexfactory.com/emmanuel7788"][color=inherit]{quote} Hi, emmanuel, are you trading from the 1 hour timeframe now ?, and if it is...you adjusted some of the Indicators?, specially the stochs settings ? Thanks
I can trade all chart timeframes from M5, M15, H1, H4, D1 .... W1.

My favourite timeframe is H4, D1 and W1.

And with MT5 now Ican trade also H4, H8, H12, D1 and W1.
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #1,029
  • Jul 4, 2019 11:54am Jul 4, 2019 11:54am
a pair with no heart beat ...

come back on Monday Jul 08

Attached Image (click to enlarge)
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #1,030
  • Jul 4, 2019 2:16pm Jul 4, 2019 2:16pm
Looks like good setup for continuation trade, but would you go for it after such a long drop? It feels a bit risky...
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  • #1,031
  • Jul 4, 2019 2:32pm Jul 4, 2019 2:32pm
Quoting onsen
Looks like good setup for continuation trade, but would you go for it after such a long drop? It feels a bit risky... {image}

I think if you go with the system you dont think about things like that or S and R you just take the signals ....


Best regards
  • #1,032
  • Jul 4, 2019 3:54pm Jul 4, 2019 3:54pm
Looking at this to enter looking good on daily and weekly as well.
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  • #1,033
  • Jul 4, 2019 4:16pm Jul 4, 2019 4:16pm
Quoting PhillipmC
Looking at this to enter looking good on daily and weekly as well. {image}
Going to wait looks like it might pull back a little today will enter on 15m when trend line breaks i think.. only thing that gives me second thoughts is holding over the weekend and entering a trade on Friday. being in Australia
  • #1,034
  • Jul 4, 2019 4:42pm Jul 4, 2019 4:42pm
Jul 05 Sydney Open

NZDCAD D1

Attached Image (click to enlarge)
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USDJPY D1

not quite ready yet

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*** today is NFP during New York session ***
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #1,035
  • Jul 4, 2019 6:55pm Jul 4, 2019 6:55pm
NZDCAD Jul 05 M15 setup for sell entry with small stop loss

after the D1 set up above post.

Attached Image (click to enlarge)
Click to Enlarge Name: NZDCAD Jul 05 M15 timed entry 05-07-2019 09-52-00.png Size: 60 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #1,036
  • Jul 4, 2019 7:21pm Jul 4, 2019 7:21pm
Hey guys Has anyone done a rough win/loss % with the trading idea given in the first post would be interested in any back testing that u have done I really wanted to do it but I can't reply on trading view using HA candles for some reason.. it's seems most of my trades at worst end up in break even and most end up in profit...
  • #1,037
  • Jul 5, 2019 12:55am Jul 5, 2019 12:55am
Quoting PhillipmC
Hey guys Has anyone done a rough win/loss % with the trading idea given in the first post would be interested in any back testing that u have done I really wanted to do it but I can't reply on trading view using HA candles for some reason.. it's seems most of my trades at worst end up in break even and most end up in profit...
I've back tested about 8 pairs (From Jun to 2014-Jun 2017) so far and bar EURCHF all gave a positive expectancy with a win rate averaging 59%. These were ONLY CROSSOVER TRADES though on the daily timeframe. RH has mentioned continuation trades have a higher win ratio, which I have observed too.

Whats more important though is how the method innately cuts losses short and allows winners to run. Your average loss compared to your average win is always lower and this even occured on EURCHF.

In any case the answer to your question is YES. You can be profitable with this method. Backtest and do your DD for confirmation. Green pips to you my friend.
  • #1,038
  • Jul 5, 2019 12:56am Jul 5, 2019 12:56am
How many does till use genesis matrix and TMs tape ?

Best regards
  • #1,039
  • Jul 5, 2019 2:23am Jul 5, 2019 2:23am
Quoting iSintim
{quote} I've back tested about 8 pairs (From Jun to 2014-Jun 2017) so far and bar EURCHF all gave a positive expectancy with a win rate averaging 59%. These were ONLY CROSSOVER TRADES though on the daily timeframe. RH has mentioned continuation trades have a higher win ratio, which I have observed too. Whats more important though is how the method innately cuts losses short and allows winners to run. Your average loss compared to your average win is always lower and this even occured on EURCHF. In any case the answer to your question is YES....
Here at FF traders always talk about win rate but it's useless without the information you pointed out
  • #1,040
  • Jul 5, 2019 2:29am Jul 5, 2019 2:29am
Quoting iSintim
{quote} I've back tested about 8 pairs (From Jun to 2014-Jun 2017) so far and bar EURCHF all gave a positive expectancy with a win rate averaging 59%. These were ONLY CROSSOVER TRADES though on the daily timeframe. RH has mentioned continuation trades have a higher win ratio, which I have observed too. Whats more important though is how the method innately cuts losses short and allows winners to run. Your average loss compared to your average win is always lower and this even occured on EURCHF. In any case the answer to your question is YES. You...
Thanks for the info buddy much appreciated.. I have the same thinking btw I'm impressed with this trading idea because of the very facts u posted...

Thanks RH.
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