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Trading Made Simple(r)

Quoting TheSpoof
Well, that sucks. Not much you can do about these things except a wider stop but that comes with its own challenges. {image}
Yes, That sucks but NO with a wider SL.

From my point of view, If an important data is coming, You can close the position before the data and take some green pips or move the position to BE and wait.

I usually move to BE, but most trades are closed in BE. So, I am thinking on closing the trade before the data news to avoid the volatility problem.
Just got 1.5 hours before close of candle to confirm setup in aud/jpy long. HMA needs to cross over 5ema on close
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Quoting marcara
{quote} Yes, That sucks butnow with a wider SL. From my point of view, If an important data is coming, You can close the position before the data and take some green pips or move the position to BE and wait. I usually move to BE, but most trades are closed in BE. So, I am thinking on closing the trade before the data news to avoid the volatility problem.
It won't have a positive effect overall.

News happens all day, every day in every heavily populated country all around the world and you can't possibly keep up with that.

So let's look at it from a logical standpoint...

Doing what you are suggesting, you will save pips about 50% of the time OR you would have made pips about the other 50% of the time.

But when the news goes against and you lose pips, you can mostly limit the losses by using a stop.

And when the news goes for you and you win pips, there is technically no limit to the upside that you can make.

This is WHY I ignore the news and why I ONLY fly blindly by doing ONLY what my indicators tell me to do. Or I get stopped out.
Always a Student, Never a Master - Emulate What Works
Quoting emmanuel7788
{quote} {image} with less than one hour to H4 close, trade management decision ... anythingcan happen during NY session until London close today. move all positions to BE and get free trades. {image}
Thank you very much, It is very very helpful I am trading with some similar sytem ( from my own) but only with two lots and these is much much better.

The only thing that I do not understand is the -0,5 SL.
When and how do you use it?

Thanks in advance
Much better this week. 5% gain on £1000 demo account. This excludes the bitcoin trade I tried earlier....did not work out (see screenshot)...stick to traditional currency!!

Thanks again to RH.
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Quoting Atheos
Much better this week. 5% gain on £1000 demo account. This excludes the bitcoin trade I tried earlier....did not work out (see screenshot)...stick to traditional currency!! Thanks again to RH. {image}
You're welcome. Good job!
Always a Student, Never a Master - Emulate What Works
UNBELIEVABLE !
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THANK YOU ROBINHOOD
Quoting paroucia
UNBELIEVABLE !{image} THANK YOU ROBINHOOD
Great Job!
Always a Student, Never a Master - Emulate What Works
Quoting TheSpoof
Just placed a buy on GBPUSD. Tight stop and a 3R take profit. We will see how she goes. {image}
Hi TheSpoof,
would you be kind to share your template and the indicators? Thank you.
NZDJPY continuation trade long. The only issue is the previous swing ,,,
Hi Robinhood, I do not see the crossover signal in the EURUSD H4.

Can you expain it?

Just checking and rechecking posts to learn!
What do you think , any hope, did I take according to rules ? I know as marcara saying there is swing, but I guess new swings has to be made at some point!
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I think there is similar set up on AJ ,but I'm not big fan to have similar pairs at that same time . What are yours policy about this?
do you know any EA to withdraw positions profits partial just like Pro Agent? (sorry for bad language)
Quoting gj7rwt
Just got 1.5 hours before close of candle to confirm setup in aud/jpy long. HMA needs to cross over 5ema on close {image}
AUDJPY D1 is in a lateral area, be careful
Quoting 99999
[quote = RobinHood; 12389583] {quote} Я был остановлен на все 3 примерно по 20 пипсов каждый. Теперь у меня длинная пара AUDUSD и NZDUSD, у меня...
Yes
Always a Student, Never a Master - Emulate What Works
Quoting marcara
Hi Robinhood, I do not see the crossover signal in the EURUSD H4. Can you expain it? Just checking and rechecking posts to learn!
At the time I entered the trade, all indicators but the Stochastics 8,3,3 said sell. Having done this for so long, I knew for a fact that the Stochastics 8,3,3 was also going to cross below the Purple 50 Line.

PLUS, The Daily, Weekly, and Monthly are all down.
Always a Student, Never a Master - Emulate What Works
Quoting Giedrius
What do you think , any hope, did I take according to rules ? I know as marcara saying there is swing, but I guess new swings has to be made at some point! {image}
The entry was correct.

I don't worry too much about similar pairs. If they are pairs that I watch and I get a signal, I take the trade.

Like right now, I am long the AUSUSD and AUDJPY and short the EURAUD.
Always a Student, Never a Master - Emulate What Works
So here is something I wanted to share about over analyzing charts and going by what you think might happen as opposed to just following what the indicators are showing you. Here is a very profitable trade on oil that I missed this week simply because I didn't like the "look" of the entry candle - what ever that means The indicators were telling me that price is going down, but I had to interject my feelings onto the chart and as a consequence I lost out on a beautiful trade. If I was wrong I would have lost 1R...no big deal but I missed out on a 2R, 3R and even a 4R potential all because I didn't like the "look" of the signal candle.

Now this isn't to say that you shouldn't pay attention to the recent price action to avoid potential chop, but placing your own subjective feelings onto what the charts are showing you can cause a lot of missed opportunities and is a potential sign that you are trying to control the market or that you think you know what is going to happen - you don't. Just place the trades when the indicators are telling you what price is currently doing, take your losses if they happen, shed risk as the trade unfolds and let your winners go.
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Emotion - it steals your money.
Swift Trade All Time Return: 7.8%
Quoting TheSpoof
So here is something I wanted to share about over analyzing charts and going by what you think might happen as opposed to just following what the indicators are showing you. Here is a very profitable trade on oil that I missed this week simply because I didn't like the "look" of the entry candle - what ever that means The indicators were telling me that price is going down, but I had to interject my feelings onto the chart and as a consequence I lost out on a beautiful trade. If I was wrong I would have lost 1R...no big deal but I missed...
If you have the Holy Grail, just took the trade; If not you should read the market.
And If you have found the holy grail, It won't last long.

Just my honest opinion.
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