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Trading Made Simple(r)

  • #1,501
  • Edited 11:58am Jul 16, 2019 8:48am | Edited 11:58am
Quoting iSintim
{quote} Appreciate the advice RH, I consider myself quite inexperienced but the rigorous backtesting has really helped me stay disciplined. A question for you traders...

1. How many trades would you recommend per week?

2. I use the daily and don't have my exposure over 2% in any currency at a time so I look for the best long and short for any currency. Should I just keep cranking this machine? I mean from what I've seen its got a positive expectancy, but then I'm conscious of DD. I'm hungry to learn. Regards, iSintim

1. There is no one correct answer. A casino has a statistical advantage on virtually every bet (table games and slots), therefore they let you bet as many times as you want (but they limit the size of any single bet). Why not do the same thing if you have a "statistical advantage on virtually every bet" trading the Forex?

2. 2% is a good amount to risk per currency (on a small account), provided that you are not in too many pairs that are correlated such as the: GBPJPY, AUDJPY, EURJPY, CADJPY, etc.
Always a Student, Never a Master - Emulate What Works
  • #1,502
  • Edited 9:01am Jul 16, 2019 8:48am | Edited 9:01am
Quoting RobinHood
For those of you who may be struggling to get a good percentage of winning trades, here's what I suggest. ONLY trade Continuation Trades on a 4 hour chart for now, and only until you perfect trading them. Do not take any Crossover Trades. In my opinion, for people who are relatively new or inexperienced at trading OR have not yet been consistently successful at trading, Continuation Trades are easier to trade and more reliable than Crossover Trades (until you perfect them) because you are almost always jumping in on an ALREADY established trend,...
It's about learning to trade the methodology patiently and consistently - every time. Did I mention patience? GUYS & GALS PLEASE HEED THIS ADVICE FROM RH.
Emotion - it steals your money.
  • #1,503
  • Jul 16, 2019 8:50am Jul 16, 2019 8:50am
Quoting marcara
{quote} CHFJPY Short -- Daily is flat EURCAD Short -- candle from EUR news and the USD and CAD news EURUSD Short -- the cross trade was yesterday,today the news hekped! USDCHF Long --- it is news candle and daily chart is not confirming
Thanks for reviewing !
Usdchf is on a pull back D1 candle I see that now

thanks again !!

So no trades this morning we all sit and wait
  • #1,504
  • Edited 9:10am Jul 16, 2019 8:55am | Edited 9:10am
Quoting iSintim
{quote} Appreciate the advice RH, I consider myself quite inexperienced but the rigorous backtesting has really helped me stay disciplined. A question for you traders...How many trades would you recommend per week? I use the daily and don't have my exposure over 2% in any currency at a time so I look for the best long and short for any currency. Should I just keep cranking this machine? I mean from what I've seen its got a positive expectancy, but then I'm conscious of DD. I'm hungry to learn. Regards, iSintim
From my observations there are generally about 2 trade setups per week on each pair. All you need to do is just look at the historical charts and look at what happened each week. Some weeks will be a choppy mess, other weeks will have two profitable opposing moves and other weeks will have a huge trend with a crossover trade and continuation trades. On the four hour charts anyway. I don't care for how things look on the dailies or lower than the four hour.

Myself, I have decided to take no more than two trades on a pair in a week to help avoid getting caught in chop. If my first trade is a loss I'll take the next signal and if it is a loss I won't trade that pair for the rest of the week. If the first one is a win I'll take another set up (especially if its a continuation) as the worst that can happen is I give back a maximum of 1R from the prior win.
Emotion - it steals your money.
  • #1,505
  • Jul 16, 2019 9:45am Jul 16, 2019 9:45am
EURCAD short and CADJPY long.
waiting for USDCHF!
  • #1,506
  • Jul 16, 2019 9:53am Jul 16, 2019 9:53am
I concur with Eur/cad. Not sure about the cad/jpy tho, but then again what do i know.
  • #1,507
  • Jul 16, 2019 10:01am Jul 16, 2019 10:01am
Quoting 40PipsAlan
I concur with Eur/cad. Not sure about the cad/jpy tho, but then again what do i know.
what's your problem with these pairs? : )
  • #1,508
  • Jul 16, 2019 10:19am Jul 16, 2019 10:19am
Just looks as tho cad/jpy is hitting a resistance where it is now. But usd/chf might be worth a punt after the next candle. I am new to this strategy so take my opinion for what it is - limited. Still learning & loosing.
  • #1,509
  • Jul 16, 2019 10:40am Jul 16, 2019 10:40am
Quoting emmanuel7788
{quote} {quote} Hi, I am testing an alert indicator to see if it works properly according to RobinHood's Crossover condition i.e. the HMA crosses the 5EMA,Close,Shift+2 Yellow Line. Want to be sure that there is no repainting of the Up/Down arrows on live charts. It is not intended to be trade signal but to send alert so that traders can analyse their own charts for buy or sell trade opportunities. Let me finish the tests by this week and I will communicate with RobinHood and see how it can be of use in his thread. Please wait for further update...
Hi EMM

Any updates on this indi and are you willing to share with us

Thnx mate
  • #1,510
  • Jul 16, 2019 10:46am Jul 16, 2019 10:46am
Quoting 40PipsAlan
Just looks as tho cad/jpy is hitting a resistance where it is now. But usd/chf might be worth a punt after the next candle. I am new to this strategy so take my opinion for what it is - limited. Still learning & loosing.
i know about S/R zones but Robinhood says we shouldn't pay attention to them nor trendlines nor anything else. we should committed to only 7 indicators of Robinhood and look for D1 and 5M for confirmation.

Good Luck
  • #1,511
  • Jul 16, 2019 10:59am Jul 16, 2019 10:59am
Quoting paroucia
EURCAD short and CADJPY long. waiting for USDCHF!
I do not know how to manage these trades. All of them have the trend becase of news, so these trades are dangerous to take.

Ahh, in an hour is going to speak Powell.
  • #1,512
  • Jul 16, 2019 11:03am Jul 16, 2019 11:03am
Anyone considering this as a valid continuation trade?
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  • #1,513
  • Jul 16, 2019 11:21am Jul 16, 2019 11:21am
Quoting gj7rwt
Anyone considering this as a valid continuation trade? {image}
It is a ·lateral" area, the indicators are flat. and the most dangerous from my pojnt of view is that Powell is going to speak
  • #1,514
  • Jul 16, 2019 11:30am Jul 16, 2019 11:30am
Quoting RobinHood
{quote} If you think you can catch big enough swings to make you happy on a hourly, then trade it.
Why itīs so important to catch a big run/trend and open multiple positions with complex entry/exit methods monitoring a dozens of currency pairs/markets to find that perfect H4/Daily/Weekly condition trade setup "maybe" booking in hundrets of pips on a good run?

I just ask so because i donīt really understand the logic behind it. I mean isnīt a 25-50 Pips+ by the end of each trading week not enough for people if this could be even achieved on trading just one market with maybe 2-3 trades per week investing 2-3 hours of time per day. (even if this means day trading / close your trade after a few minutes / hours / by the end of the day). Is this because of greed? Is it really only about reducing risk? The arguments H4/Daily/Weekly charts take less time here involved because people have day jobs and what ever seems to me like a cheap excuse basically saying (i only have $200 to play with..)

Why not stop trading micro lot multi entry/exit positions and increase lot size and account size so risk stays the same... Do brokers close account if you ask for a 5-6-7 figure withdrawal by the end of each month, or isnīt that still not enough money for some people here?
  • #1,515
  • Jul 16, 2019 11:37am Jul 16, 2019 11:37am
Quoting marcara
{quote} I do not know how to manage these trades. All of them have the trend becase of news, so these trades are dangerous to take. Ahh, in an hour is going to speak Powell.
i closed CADJPY because i guess the indicator gave wring signal. after a few minutse i checked it and noticed it wasn't a position to open. i only have EURCAD and there is no news untill 20 hours later!
  • #1,516
  • Jul 16, 2019 11:42am Jul 16, 2019 11:42am
Quoting gj7rwt
Anyone considering this as a valid continuation trade? {image}

Looks that way yes

Best regards
  • #1,517
  • Jul 16, 2019 11:48am Jul 16, 2019 11:48am
So, one would ask me what did I see to enter these trades.
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Begin with the end in mind
  • #1,518
  • Jul 16, 2019 11:56am Jul 16, 2019 11:56am
Quoting paroucia
{quote} i closed CADJPY because i guess the indicator gave wring signal. after a few minutse i checked it and noticed it wasn't a position to open. i only have EURCAD and there is no news untill 20 hours later!
EURCAD will be affected by Powell; CAD always look at USD, be careful.
  • #1,519
  • Jul 16, 2019 12:04pm Jul 16, 2019 12:04pm
Quoting marcara
{quote} EURCAD will be affected by Powell; CAD always look at USD, be careful.
thanks for your point marcara. except news anything else is wrong about EURCAD?
Thanks
  • #1,520
  • Jul 16, 2019 12:09pm Jul 16, 2019 12:09pm
Quoting Luttlebird
So, one would ask me what did I see to enter these trades. {image}
EA buy why ?

chart 2 waiting for a continue trade


Best regards
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