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Trading Made Simple(r)

  • #2,061
  • Jul 26, 2019 8:33am Jul 26, 2019 8:33am
Quoting TheSpoof
{quote} I took 9 trades this week. 5 were positive and 4 were negative. I came away with just a tad over 4R in profit.
Thank you for the info. You limit tourself to 5 pairs or something ?

Best regards
  • #2,062
  • Jul 26, 2019 8:34am Jul 26, 2019 8:34am
Quoting jgadefelth
How many trades have the people in this thread been able to get this week, what was your winning percent and risk to reward ? Best regards
frankly, actually the same system here may yield differently, different number of trades, different personal discretion according to different events, different TP and SL systems.. too many possibilties, unreliable... it is not a published research paper so nothing can be trusted... what may work for others may not work for oneself.. trust oneself and do the tiring backtesting... it is thankful enough someone is willing to share something that works..

just knowing this is a high TF system with furthermore minimal some people trade live and willing to guide using this method and works, should be enticing enough for someone interested in earning from forex using this system to do backtesting let say among 10 currency pairs someone like to trade with, there are a certain number of trades this week for that particular someone, and those can yield how many winning percent and RR ratio, if that is how someone thinks, people think differently, but who cares as long it works... if it is enticing to you, do another back test for another week, and repeat the process again and again until you are satisfied while learning PA, while also doing forward testing the following weeks again and again with complete discipline according to how you test, not tweaking a single criteria...
  • #2,063
  • Jul 26, 2019 8:34am Jul 26, 2019 8:34am
Quoting gj7rwt
{quote} Ended up not taking the short position as I don't want to leave the position open over the weekend and it's looks like all liquidity has exited the market today.....I would only be about 5pips up by now if I had taken the position earlier after spread is taken in to account Have a good weekend Cheers. Andy
So after pressing post reply the market drops the most it has all day lol
  • #2,064
  • Jul 26, 2019 8:34am Jul 26, 2019 8:34am
Quoting spyderman
{quote} You could also place a buy/sell stop order a bit above/below price. That way you ensure it's moving your direction when the trade is taken
It's not a bad idea and will save you from those odd times where price just wants to be rude and immediately reverse against you. I used to only enter trades with pending orders for that very reason and I may do so again.
Emotion - it steals your money.
  • #2,065
  • Jul 26, 2019 8:35am Jul 26, 2019 8:35am
Quoting jgadefelth
{quote} Thank you for the info. You limit tourself to 5 pairs or something ? Best regards
Yes.
Emotion - it steals your money.
  • #2,066
  • Jul 26, 2019 8:47am Jul 26, 2019 8:47am
Quoting gj7rwt
{quote} So after pressing post reply the market drops the most it has all day lol
Yeah about 15 pips in profit at the moment. Only demo tho testing the RH methology. Real money will prove more challenging I am sure.
Just wondering about leaving trades open for the weekend. Not so sure its a good idea so might close it all down in an hour or so.
  • #2,067
  • Jul 26, 2019 8:51am Jul 26, 2019 8:51am
Quoting moRTaL
{quote} frankly, actually the same system here may yield differently, different number of trades, different personal discretion according to different events, different TP and SL systems.. too many possibilties, unreliable... it is not a published research paper so nothing can be trusted... what may work for others may not work for oneself.. trust oneself and do the tiring backtesting... it is thankful enough someone is willing to share something that works.. just knowing this is a high TF system with furthermore minimal some people trade live and...

Yes Thank you.

Best regards
  • #2,068
  • Jul 26, 2019 10:48am Jul 26, 2019 10:48am
Damn I missed the short signal on AUDJPY, well actually it wasn't in the list of pairs that my EA monitors. That's a nice momentum move right at the signal, with some white space to the left. Oh well, better luck next time

Attached Image (click to enlarge)
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  • #2,069
  • Jul 26, 2019 11:30am Jul 26, 2019 11:30am
Quoting Barraka
Damn I missed the short signal on AUDJPY, well actually it wasn't in the list of pairs that my EA monitors. That's a nice momentum move right at the signal, with some white space to the left. Oh well, better luck next time {image}
Yah just closed it down being the weekend an all for 24 pips profit.
  • #2,070
  • Jul 26, 2019 11:52am Jul 26, 2019 11:52am
Hello. This is my first post, after a while of watching and practicing. Very good results, ending an early week. Thank you BIG E, Robin Hood and Emmanuel.
Attached Image (click to enlarge)
Click to Enlarge Name: week2607.jpg Size: 438 KB

Hello. This is my first post, after a while of watching and practicing. Very good results, ending an early week. Thank you BIG E, Robin Hood and Emmanuel.
  • #2,071
  • Jul 26, 2019 12:07pm Jul 26, 2019 12:07pm
Hi All
like last week, i ended trading with a lot of pips. but in between them i lost many pips. lack of patient and discipline is a huge barrier for me. i need to resolve it asap.
Attached Image


Have A Good Weekend
  • #2,072
  • Edited 12:53pm Jul 26, 2019 12:27pm | Edited 12:53pm
For those who don't understand WHY I drop down to the 5 min chart to "fine tune" my entry, it's because you ASSURE yourself that the lower time frame is going IN THE SAME DIRECTION AS THE HIGHER TIME FRAME that you got the signal on...at the time you enter.

How many times have you entered a trade that IMMEDIATELY WENT AGAINST YOU???

VERY OFTEN, RIGHT?.

So which way makes the most sense to enter a trade...logically?

1. To enter a trade WHEN THE 5 Min CHART IS GOING IN THE OPPOSITE DIRECTION AS YOUR TRADING SIGNAL?

OR

2. To enter a trade WHEN THE 5 Min CHART IS GOING IN THE SAME DIRECTION AS YOUR TRADING SIGNAL?

It's a pretty elementary concept...and just another reason WHY I named this thread "Trading Made Simple(r).
Always a Student, Never a Master - Emulate What Works
  • #2,073
  • Jul 26, 2019 12:55pm Jul 26, 2019 12:55pm
Quoting Maicuong
Hello. This is my first post, after a while of watching and practicing. Very good results, ending an early week. Thank you BIG E, Robin Hood and Emmanuel. {image} Hello. This is my first post, after a while of watching and practicing. Very good results, ending an early week. Thank you BIG E, Robin Hood and Emmanuel.

Very good 24 trades if i counted them right. Did you take all by the rules and on 4h charts ? I see many of your winners is much larger then your losers how did you manage them ? Thank You.

Best regards
  • #2,074
  • Jul 26, 2019 12:57pm Jul 26, 2019 12:57pm
Quoting RobinHood
For those who don't understand WHY I drop down to the 5 min chart to "fine tune" my entry, it's because you ASSURE yourself that the lower time frame is going IN THE SAME DIRECTION AS THE HIGHER TIME FRAME that you got the signal on...at the time you enter. How many times have you entered a trade that IMMEDIATELY WENT AGAINST YOU??? VERY OFTEN, RIGHT?. So which way makes the most sense to enter a trade...logically? 1. To enter a trade WHEN THE 5 Min CHART IS GOING IN THE OPPOSITE DIRECTION AS YOUR TRADING SIGNAL? OR 2. To enter a trade WHEN THE...
Thanks for clarity Rob but why 5min not 15min
Will be back in 5years
  • #2,075
  • Jul 26, 2019 12:59pm Jul 26, 2019 12:59pm
Quoting RobinHood
For those who don't understand WHY I drop down to the 5 min chart to "fine tune" my entry...
So true, I've seen too many trades kind of reverse just as I click the Buy/Sell button, and got stopped out in 1 or 2 candles... Now I haven't got into the habit of fine-tuning the setups to the 5m TF (seems at first radical to go from H4 to M5, but it makes sense).
All the trades I've taken so far with this method have been set instantly as I saw they met the criteria. Probably why my results this week have been so-so.

Next week I'll add this layer of decision-making to it.

Thanks for your insights.
  • #2,076
  • Jul 26, 2019 1:22pm Jul 26, 2019 1:22pm
Quoting Satraderma
{quote} Thanks for clarity Rob but why 5min not 15min
You can use any lower time frame you want. I chose the 5 min because I used to day trade the 5 min. charts (and so I'm very comfortable with it) and the 1 min has way too much noise for me.

You could use the Monthly and the 4 hr. if you wanted to.

It's about the "concept" of using a lower time frame, not which specific time frame.
Always a Student, Never a Master - Emulate What Works
  • #2,077
  • Jul 26, 2019 1:23pm Jul 26, 2019 1:23pm
Quoting Barraka
{quote} So true, I've seen too many trades kind of reverse just as I click the Buy/Sell button, and got stopped out in 1 or 2 candles... Now I haven't got into the habit of fine-tuning the setups to the 5m TF (seems at first radical to go from H4 to M5, but it makes sense). All the trades I've taken so far with this method have been set instantly as I saw they met the criteria. Probably why my results this week have been so-so. Next week I'll add this layer of decision-making to it. Thanks for your insights.
You're welcome.
Always a Student, Never a Master - Emulate What Works
  • #2,078
  • Jul 26, 2019 1:38pm Jul 26, 2019 1:38pm
Quoting RobinHood
For those who don't understand WHY I drop down to the 5 min chart to "fine tune" my entry, it's because you ASSURE yourself that the lower time frame is going IN THE SAME DIRECTION AS THE HIGHER TIME FRAME that you got the signal on...at the time you enter. How many times have you entered a trade that IMMEDIATELY WENT AGAINST YOU??? VERY OFTEN, RIGHT?. So which way makes the most sense to enter a trade...logically? 1. To enter a trade WHEN THE 5 Min CHART IS GOING IN THE OPPOSITE DIRECTION AS YOUR TRADING SIGNAL? OR 2. To enter a trade WHEN THE...

It just happened to me this week. I had a Signal on the 4h (forgot the pair). I switched to the 1 minute to check the direction. It was going AGAINST the signals direction. I waited for about 45 min, checking around every 5 minutes. It still went in the other direction. After checking 1 1/2 hours later on the 4h Chart the HMA changed the colour and also the Candle.

If I had taken the signal immediately I would have lost. By checking the 1 or 5 min, it saved me from losing.

So guys I really suggest you follow RH here!

Have a nice weekend everyone.
  • #2,079
  • Jul 26, 2019 3:15pm Jul 26, 2019 3:15pm
Quoting emmanuel7788
{quote} Good sense of humour calling Weekly grandmother, Daily mother and ....4Hourly daughter. LOL. I keep a rather simple routine. When Monday market open at my end (NY Open Sunday) I scan through my watchlist 20 pairs Weekly charts and look for new setups and if there is already an established trend after a recent CROSSOVER, I will drop down to Daily. If Weekly shows that price bars HA candles are small and trapped within its HMA and 5EMA, I skip the pair. I wait until there is a new price move outside the HMA and 5EMA. Then I scan through all...
Why this candle is "good" for waiting for entry setup? It is small candle. It has hardly closed below MA.
  • #2,080
  • Jul 26, 2019 3:29pm Jul 26, 2019 3:29pm
Quoting iwan73
{quote} Why this candle is "good" for waiting for entry setup? It is small candle. It has hardly closed below MA.
Valid trend continuation candle?
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