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Trading Made Simple(r)

  • #2,581
  • Aug 8, 2019 10:52am Aug 8, 2019 10:52am
Quoting emmanuel7788
{quote} this week is AUD day ... all AUDSGD AUDUSD AUDJPY EURAUD GBPAUD AUDCAD AUDNZD ... all look good till close of the week.
I am guessing that means the Trend they are in now will last till tomorrow night? maybe the odd retrace or two
  • #2,582
  • Aug 8, 2019 10:56am Aug 8, 2019 10:56am
Well today there seems to be a lot of signals, most of them looks pretty clean to me.

GBPAUD H4 - Already in since 2 candles. TP1 already hit, TP2 SL-BE.
Attached Image (click to enlarge)
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AUDUSD H4 - Already in since 2 candles. TP1 already hit, TP2 SL-BE.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD.PNG Size: 45 KB


And right now, on the current candle open, I took a few other setups, all looking decent. Seems like a lot of orders open at the same time, this could be an opportunity to spot the better ones. But I still wanted to take all the setups that I would take in isolation, i.e. regardless of exposure. It's more about tracking the potential WR if I were to go live.

So 4 trades taken last candle:
AUDCHF H4: Discarded previous resistance wick. Could be an issue.
Attached Image (click to enlarge)
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AUDJPY H4: Recent divergence made me take the trade.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDJPY.PNG Size: 47 KB


GBPCAD H4: I'd rather trade on pound weakness than the other way. Still, it fits the criteria.
Attached Image (click to enlarge)
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EURAUD H4: Divergence could be seen as confluence.
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  • #2,583
  • Aug 8, 2019 11:01am Aug 8, 2019 11:01am
Quoting RochaTheRock
{quote} Thanks for sharing the pdf! Though it didn't answered my question it did help me on other matters. Thanks a lot What I do understand by reading the other inputs is that for the trailing stop loss it's a fixed point based on ATR and it won't follow the price as it progresses in our favor.
I have just put in a request in the platform tech area for someone to code an EA as described below. If someone does it I think it would be perfect for this system.

*************************************************************

If the following doesn't exist (and please post a link if it does!), would it be possible for someone to code the following?

I am looking for a trade management EA that sets stop loss, trailing stop loss, and take profit as follows:

1) When the trade is first opened, a stop loss is set which matches the top or bottom (depending on trade direction) of a previous candle defined by the user, IE, 1 candle earlier, 2 candles, 3 candles etc. The default would be stop loss on the 2nd candle prior to the trade.

However many pips this is, it is the opening trailing stop. It trails whether or not the buy has reached profit (though this initial trailing could be turned off true/false).

2) Once the trade has reached break even/small profit (default at 10 pips, but this is also user definable), the size of the trailing stop changes to a user definable number. So for example the settings would allow the user to have the trailing stop loss change to 50 pips once the trade is 40 pips in profit.

3) Finally, an option to scale the size of the trailing stop by increments once a user definable profit level has been reached, for example the user could chose to reduce the trailing distance by 50% for every increment of 100 pips profit reached, or perhaps reduce it by 10% for every 10 pips, this should be as user definable as possible. Simply defined by % reduction/number of pips profit.

Hopefully this can be done!

David
  • #2,584
  • Aug 8, 2019 11:01am Aug 8, 2019 11:01am
Quoting RochaTheRock
{quote} Thanks for sharing the pdf! Though it didn't answered my question it did help me on other matters. Thanks a lot What I do understand by reading the other inputs is that for the trailing stop loss it's a fixed point based on ATR and it won't follow the price as it progresses in our favor.
I believe it does trail by last candle high/low as another option. I expect Emmanuel can explain it better.
Trailing means exactly that, it tracks behind the price by a set amount. The ATR gives you the daily range of the pair and therefore a value based on ATR that can be used for a trailing amount. I am sure the experts can enlighten us.
  • #2,585
  • Aug 8, 2019 11:03am Aug 8, 2019 11:03am
Quoting itsDavid
{quote} I have just put in a request in the platform tech area for someone to code an EA as described below. If someone does it I think it would be perfect for this system. ************************************************************* If the following doesn't exist (and please post a link if it does!), would it be possible for someone to code the following? I am looking for a trade management EA that sets stop loss, trailing stop loss, and take profit as follows: 1) When the trade is first opened, a stop loss is set which matches the top or bottom...
sounds like cavemanager to me
  • #2,586
  • Aug 8, 2019 11:16am Aug 8, 2019 11:16am
Quoting 40PipsAlan
{quote} sounds like cavemanager to me
I don't know that one but I did download it after seeing it posted a short while ago. I was planning on reading the pdf today.
  • #2,587
  • Aug 8, 2019 11:21am Aug 8, 2019 11:21am
Quoting itsDavid
{quote} I don't know that one but I did download it after seeing it posted a short while ago. I was planning on reading the pdf today.
Yah, I was going to have another crack at it. Lots of parameters to play with. Does everything apart from make the tea!
  • #2,588
  • Aug 8, 2019 11:33am Aug 8, 2019 11:33am
one more chance ... CONTINUATION trade

Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD H4 Aug 08 09-08-2019 02-29-53.png Size: 54 KB
Attached File(s)
File Type: zip last chance.zip   5.6 MB | 1,313 downloads
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #2,589
  • Aug 8, 2019 11:44am Aug 8, 2019 11:44am
Quoting emmanuel7788
one more chance ... CONTINUATION trade {image} {file}
Ah, we have a comedian amongst us
  • #2,590
  • Aug 8, 2019 1:59pm Aug 8, 2019 1:59pm
Quoting 40PipsAlan
{quote} Ah, we have a comedian amongst us
What do you mean?

Same old... same old? ; )─

The thread name is just a little different... I got confused again... my eyes are failing me it seems ; )─ as the familiar ones are sort of flooding this thread. But at least... There's a thread admin.
Since Frank Sinatra sings in his own way, my chart sing... I did it, my way
  • #2,591
  • Aug 8, 2019 2:00pm Aug 8, 2019 2:00pm
Quoting v2vboni
{quote} What do you mean? Same old... same old? ; )─ The thread name is just a little different... I got confused again... my eyes are failing me it seems ; )─ as the familiar ones are sort of flooding this thread. But at least... There's a thread admin.
Our old friend Emmanuel likes pop music
  • #2,592
  • Aug 8, 2019 2:27pm Aug 8, 2019 2:27pm
giving EURCHF a try

H4 short as continuation setup...
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: EURCHFH4.png Size: 53 KB
  • #2,593
  • Aug 8, 2019 3:26pm Aug 8, 2019 3:26pm
Quoting mtacki
giving EURCHF a try H4 short as continuation setup... {image} {image}
This looks like a Crossover Trade to me Mtacki

Trade well.
  • #2,594
  • Aug 8, 2019 4:16pm Aug 8, 2019 4:16pm
Holding a short position on Cable, entered at the H4 yesterday, however price staled, but before killing the trade took a look at the Daily, looking nice for continuation trade. Anyone else in this one?
thinking outside the box
  • #2,595
  • Aug 8, 2019 5:58pm Aug 8, 2019 5:58pm
AUDUSD Aug 09 Tokyo session

D1 is early for a CROSSOVER setup trade option is to drop to H1 and take a CONTINUATION setup trade...

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD Aug 09 D1 too early 09-08-2019 08-54-23.png Size: 57 KB


H1 get in and get out with trailing stop... before FO/LO.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD Aug 09 H1 TOKYO 09-08-2019 08-56-58.png Size: 55 KB


FO= Frankfurt Open
LO=London Open
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #2,596
  • Aug 8, 2019 6:12pm Aug 8, 2019 6:12pm
Quoting Mercennary
Holding a short position on Cable, entered at the H4 yesterday, however price staled, but before killing the trade took a look at the Daily, looking nice for continuation trade. Anyone else in this one?
Good morning @Mercennary

I closed GA just now cause RBA statement in 20mins and GBP red news in 7hours.

Are you going to hold GU ?

Attached Image (click to enlarge)
Click to Enlarge Name: GDPAUD_09aug2019.PNG Size: 49 KB
  • #2,597
  • Aug 8, 2019 6:20pm Aug 8, 2019 6:20pm
Quoting emmanuel7788
AUDUSD Aug 09 Tokyo session D1 is early for a CROSSOVER setup trade option is to drop to H1 and take a CONTINUATION setup trade... {image} H1 get in and get out with trailing stop... before FO/LO. {image} FO= Frankfurt Open LO=London Open
Good mornig sir!

I'm watching AUD pairs cause RBA monetary policy statement in few mins.

Green pips.

Mrs.W
  • #2,598
  • Aug 8, 2019 6:39pm Aug 8, 2019 6:39pm
Quoting MrsWatanabe
{quote} Good mornig sir! I'm watching AUD pairs cause RBA monetary policy statement in few mins. Green pips. Mrs.W

Good morning.

Yes. Good to trade safe now unless you have profits locked in this week then do not take new trades with additional risks.

It is unlikely that RBA can match what RBNZ did this week with that drastic rate cut. RBA will make its rate cut at the next meeting to boost falling domestic spending.
Ongoing trade war and accusation of currency manipulation by China will cause some uncertainty and short periods of volatility.

Trade Safe and always use Capital Protection.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #2,599
  • Aug 8, 2019 7:00pm Aug 8, 2019 7:00pm
Quoting emmanuel7788
AUDUSD Aug 09 Tokyo session D1 is early for a CROSSOVER setup trade option is to drop to H1 and take a CONTINUATION setup trade... {image} H1 get in and get out with trailing stop... before FO/LO. {image} FO= Frankfurt Open LO=London Open
I'm watching for a retrace on the AU or the swing. Daily charts is all I trade. It's been wonderful and boring with all the trending pairs.
Trade what "Is", not what "If".
  • #2,600
  • Aug 8, 2019 7:27pm Aug 8, 2019 7:27pm
Quoting MrsWatanabe
{quote} Good morning @Mercennary I closed GA just now cause RBA statement in 20mins and GBP red news in 7hours. Are you going to hold GU ? {image}
Stop loss at safe place, so yeah, will hold it for sure. Lets see how it goes
thinking outside the box
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