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Trading Made Simple(r)

  • #2,081
  • Jul 26, 2019 4:11pm Jul 26, 2019 4:11pm
Here is the trade report for this week. I set up another demo account so that I can trade exclusively this method on it, it's easier to track results and isolate them from other methods that I trade.

Attached Image (click to enlarge)
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So overall, second consecutive week that I trade this live demo, second week in the green, but second week with a ridiculous pip/trade ratio (less than 2 lol). Guess that it's better than finishing in the red, and considering I had a bad start of the week, it's still ok.

Next week's objective is to fine-tune my entries, and I need to think about the 3-unit trade system... It's got a reassuring side where it avoids that you leave too many pips on the table and that a trade reverses & goes against you. But I've had too many trades that hit TP1 of 1R, and break-even the other 2. That's also partly why the pip/trade ratio is so low, because when I get a loser I get -1R vs +0.6R in those situations.
  • #2,082
  • Jul 26, 2019 4:22pm Jul 26, 2019 4:22pm
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...
Just one more question on this topic to clarify this for me RH... hope I don’t annoy you with it to much matey...
So let say you get a signal on H4 and go straight to M5 to find out that trade is going in opposite direction at this moment. So, do you wait until it reverse and start going in your direction later on (might take a while) or you just ignore this trade...??? Thx again
  • #2,083
  • Jul 26, 2019 4:42pm Jul 26, 2019 4:42pm
Quoting RaV1307
{quote} Just one more question on this topic to clarify this for me RH... hope I don’t annoy you with it to much matey... So let say you get a signal on H4 and go straight to M5 to find out that trade is going in opposite direction at this moment. So, do you wait until it reverse and start going in your direction later on (might take a while) or you just ignore this trade...??? Thx again
Rav I think reitilicios gave a good example in post 2084.

The trade isn't automatically void, wait for it to come back in the direction of your trade, which it often does. If it doesn't, as in his example, then eventually the 4h signal will be voided by a change of candle colour or hma colour change.
  • #2,084
  • Jul 26, 2019 4:55pm Jul 26, 2019 4:55pm
Quoting RaV1307
{quote} Just one more question on this topic to clarify this for me RH... hope I don’t annoy you with it to much matey... So let say you get a signal on H4 and go straight to M5 to find out that trade is going in opposite direction at this moment. So, do you wait until it reverse and start going in your direction later on (might take a while) or you just ignore this trade...??? Thx again
You wait until the 5 min chart is going in the direction of the 4 hr. trade signal. You get the direction by using our same 7 indicators on the 5 min chart.
Always a Student, Never a Master - Emulate What Works
  • #2,085
  • Jul 26, 2019 8:27pm Jul 26, 2019 8:27pm
Quoting iwan73
{quote} Why this candle is "good" for waiting for entry setup? It is small candle. It has hardly closed below MA.
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY Weekly scan 16-07-2019 15-29-06.png Size: 58 KB



That is a Weekly scan after NY closed that weekend.That is not a candle for sell entry on Weekly.

That Weekly candle was good to have a sell bias in the following week trading H4.

That Weekly APB/HA candle close below the 5EMA (Yellow) but very near to the HMA line.
When I am in doubt, I would look in the Data Window and see the actual data.
I look at EVERYTHING and not just the APB or the HA candle action in isolation. Note the previous 3 week bars for example, do we see a bearish reversal type pattern?

Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY Week 28 CLOSE 27-07-2019 08-49-47.png Size: 106 KB


Looking at it now after NY closed for the week, next week trading decision is easy...4H swing traders .. wait for SELL H4 only .. but where would be the initial Stop Loss R for Positions Sizing and what amount of money to risk?

Do not forget, it is month end trading for 3 days Jul 29 to 31, then we have a new Monthly candle which will open on Aug 01. Sellers can be caught in the lower wick/shadow of the July MN candle.... it is MN shadow trading.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #2,086
  • Jul 27, 2019 1:32am Jul 27, 2019 1:32am
RH is it possible for you to put in the first post what pair you trade and the ones you avoid please ?

Thank You.

Best regards
  • #2,087
  • Jul 27, 2019 1:39am Jul 27, 2019 1:39am
Quoting jgadefelth
RH is it possible for you to put in the first post what pair you trade and the ones you avoid please ? Thank You. Best regards
It is in the first few pages on what he trades... But do believe that he has said before that he trades anything that he sees a set up for.. within reason
  • #2,088
  • Jul 27, 2019 1:41am Jul 27, 2019 1:41am
Quoting PhillipmC
{quote} It is in the first few pages on what he trades... But do believe that he has said before that he trades anything that he sees a set up for.. within reason

Yes find post 49 where he say not Eu on intraday. But he likes jpy pairs and GJ And usd/try.

Seen other pairs here from other people maybe the better question is what to avoid in the majors ?

Best regards
  • #2,089
  • Jul 27, 2019 3:05am Jul 27, 2019 3:05am
Quoting jgadefelth
RH is it possible for you to put in the first post what pair you trade and the ones you avoid please ? Thank You. Best regards
I wanted to know too and I simply look at his posts where he show some of his trades.

For example this post#385:
https://www.forexfactory.com/showthr...7#post12340587
I see a few exotic USD pairs.

When you want to decide which pairs you want to trade, for example when you trade H4, you need also to consider the H4 ATR of the pair and also what its pip $value.
Losing 10 pips on EURGBP and losing 10 pips on EURUSD and GBPUSD are not the same $$$losses.
Your trade lot size matters when you trade with fixed lot size and do not consider the Stop Loss ... Risk in pips and use Position Sizing. For example, you place your SL two candles above/below your entry candle, you should know how much $$$ you will lose when your SL get hit.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #2,090
  • Jul 27, 2019 3:07am Jul 27, 2019 3:07am
Quoting emmanuel7788
{quote} I wanted to know too and I simply look at his posts where he show some of his trades. For example this post#385: https://www.forexfactory.com/showthr...7#post12340587 I see a few exotic USD pairs. When you want to decide which pairs you want to trade, for example when you trade H4, you need also to consider the H4 ATR of the pair and also what its pip $value. Losing 10 pips on EURGBP and losing 10 pips on EURUSD and GBPUSD are not the same $$$losses. Your trade lot size matters when you trade with fixed...
Yes consider ATR can be important do you have a site that shows that ? For position size i think percent of account will be simplest ?

Best regards
  • #2,091
  • Jul 27, 2019 3:16am Jul 27, 2019 3:16am
Quoting jgadefelth
{quote} Yes consider ATR can be important do you have a site that shows that ? For position size i think percent of account will be simplest ? Best regards

here is one which I follow for years on their forum... lots of European traders there.

https://www.mataf.net/en/forex/tools
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #2,092
  • Jul 27, 2019 3:27am Jul 27, 2019 3:27am
Quoting emmanuel7788
{quote} here is one which I follow for years on their forum... lots of European traders there. https://www.mataf.net/en/forex/tools

Thank You, but we stick to majors 28 pairs ? for decent spread ?

Best regards
  • #2,093
  • Jul 27, 2019 3:33am Jul 27, 2019 3:33am
Only managed to trade Thursday and Friday
GBPCHF was an error on my part I entered the trade very late, and without correct consideration, also should have halved that losss as I realized I was wrong but I waited to see the indicators prove I was wrong. So the only 2 failed trades were 100% my fault.

For whomever this may help: following and working off all 7 indicators, catching the first candle close i.e.(the sweet spot as I like to call it); so meeting all 7 indicator conditions and dropping down the the 5min Interval to make sure you enter when price action is in your signal direction will ensure you save yourself a headache of going - xx pips on a trade but more than likely go straight into the green. Lastly, ideally if you working off the 4hr you'll check to make sure price movement/ trend on the daily is the same or atleast forming.


@Emmanuel Many Thanks for enlightening me on ATR. Much appreciated!
Attached Image (click to enlarge)
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The more you learn, the more you see
  • #2,094
  • Jul 27, 2019 3:40am Jul 27, 2019 3:40am
I am avoiding CHF and CAD for the moment whilst learning this method. Keep getting burnt on these two.
  • #2,095
  • Jul 27, 2019 3:41am Jul 27, 2019 3:41am
Quoting Marcusv007
Only managed to trade Thursday and Friday GBPCHF was an error on my part I entered the trade very late, and without correct consideration, also should have halved that losss as I realized I was wrong but I waited to see the indicators prove I was wrong. So the only 2 failed trades were 100% my fault. For whomever this may help: following and working off all 7 indicators, catching the first candle close i.e.(the sweet spot as I like to call it); so meeting all 7 indicator conditions and dropping down the the 5min Interval to make sure you enter when...

It looks very good do you hae a target or you trail 2 candles behind and see if any indicator change direction one or more then one ? what pairs do you trade ?

Thank You.

Best regards
  • #2,096
  • Jul 27, 2019 5:20am Jul 27, 2019 5:20am
Quoting Marcusv007
Only managed to trade Thursday and Friday GBPCHF was an error on my part I entered the trade very late, and without correct consideration, also should have halved that losss as I realized I was wrong but I waited to see the indicators prove I was wrong. So the only 2 failed trades were 100% my fault. For whomever this may help: following and working off all 7 indicators, catching the first candle close i.e.(the sweet spot as I like to call it); so meeting all 7 indicator conditions and dropping down the the 5min Interval to make sure you enter when...
Those are EXCELLENT results. Great job!
Always a Student, Never a Master - Emulate What Works
  • #2,097
  • Jul 27, 2019 5:31am Jul 27, 2019 5:31am
Quoting 40PipsAlan
I am avoiding CHF and CAD for the moment whilst learning this method. Keep getting burnt on these two.
Avoid chf like many traders. You will be a lot safer.
  • #2,098
  • Jul 27, 2019 7:03am Jul 27, 2019 7:03am
Quoting jgadefelth
{quote} It looks very good do you hae a target or you trail 2 candles behind and see if any indicator change direction one or more then one ? what pairs do you trade ? Thank You. Best regards
Hi, The trading style that seems to work for me is to have a target, however if I see a currency with a breakout on a couple time frames and a clear trend also across couple time frames I will hang in there and trail my stop out closely. Its a fine margin between finding out how far a currency will go and how much do you want to give back to the market. What appears to work for me is locking in my targets and moving on.

I use the symbol changer and sift through for any possible setups, so I don't have preference on any pairs.
The more you learn, the more you see
  • #2,099
  • Jul 27, 2019 7:19am Jul 27, 2019 7:19am
Quoting RobinHood
{quote} Those are EXCELLENT results. Great job!
Thank you sir.
The more you learn, the more you see
  • #2,100
  • Jul 27, 2019 12:56pm Jul 27, 2019 12:56pm
is there any way to set up this beautiful strategy over the phone with MT4?

Thanks for your beautiful work!
keep up the good work.
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