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Trading Made Simple(r)

  • #2,641
  • Aug 9, 2019 12:22pm Aug 9, 2019 12:22pm
Quoting 40PipsAlan
{quote} That’s a easy question. We will know when it opens next week.
And then there are those that know their indicators, so will be able to know next week's open when today's candle closes.
To free Gazans of Hamas, use whatever it takes.
  • #2,642
  • Aug 9, 2019 12:27pm Aug 9, 2019 12:27pm
Quoting DrDave
{quote} And then there are those that know their indicators, so will be able to know next week's open when today's candle closes.
Closes for us minions but the big banks keep trading and could create a gap on the Sunday open taking out some traders SL.
  • #2,643
  • Aug 9, 2019 12:28pm Aug 9, 2019 12:28pm
Quoting Barraka
Interesting arguments regarding indicator knowledge. When I started out discovering the different tools / indis out there, I always wanted to know what what behind. Hence opening up the mql4 editor and seeing what was happening. Fast forward some time, after learning mql4 & making some indis of my own, sometimes recycling some formulas or methods used in traditional indis (RSI, stocks, macd...), I can comfortably say that knowing the inner workings or the indicators does not help you, in the sense that it doesn't give you an edge. Not the...
I think you meant to say.
Quote
I can comfortably say that knowing the inner workings or the indicators does not help ME, in the sense that it doesn't give ME an edge.
Just one example that gives me an edge by knowing my indicators: When the Weekly HA candle closes today, I will know the opening value of next week's weekly candle. I can make plans during the weekend for which pairs are of interest and what direction bias they have. Perhaps that is not an edge for you, but it is an edge for me.
To free Gazans of Hamas, use whatever it takes.
  • #2,644
  • Aug 9, 2019 12:34pm Aug 9, 2019 12:34pm
Quoting 40PipsAlan
{quote} Closes for us minions but the big banks keep trading and could create a gap on the Sunday open taking out some traders SL.
LOL. That, as you are well aware, is the exception. I think you will agree that we are talking about the usual events here.
To free Gazans of Hamas, use whatever it takes.
  • #2,645
  • Aug 9, 2019 12:49pm Aug 9, 2019 12:49pm
Quoting DrDave
{quote}I think you meant to say. {quote} Just one example that gives me an edge by knowing my indicators: When the Weekly HA candle closes today, I will know the opening value of next week's weekly candle. I can make plans during the weekend for which pairs are of interest and what direction bias they have. Perhaps that is not an edge for you, but it is an edge for me.
I totally agree, what works for one doesn't necessarily work for another. And what doesn't work for another, doesn't mean it won't work for yet another person.
Just curious, when you say that knowing when the HA candle will start next week gives you an edge, how would you define / exploit it?
  • #2,646
  • Aug 9, 2019 12:58pm Aug 9, 2019 12:58pm
Nice discussions all day but very few posted trades. The market will close in about 3 hours.

There is weekend time to read Post#1 again. There is ADDENDUM - 7/16/19 added by RobinHood in case some may not have read that.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #2,647
  • Aug 9, 2019 1:02pm Aug 9, 2019 1:02pm
Quoting 40PipsAlan
Trading made Simple(r) So we don't need to know how an indicator works. We just need to know how to apply them for improved trading success. And it does. {image}

I like your chart. It looks so simple when to enter and when exit.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #2,648
  • Aug 9, 2019 1:05pm Aug 9, 2019 1:05pm
Quoting emmanuel7788
{quote} I like your chart. It looks so simple when to enter and when exit.
Praise indeed. Trades improving on a daily basis, excellent system.
  • #2,649
  • Aug 9, 2019 1:16pm Aug 9, 2019 1:16pm
Quoting Barraka
{quote} I totally agree, what works for one doesn't necessarily work for another. And what doesn't work for another, doesn't mean it won't work for yet another person. Just curious, when you say that knowing when the HA candle will start next week gives you an edge, how would you define / exploit it?
As I said in brief in my original reply, I can leisurely check over the weekend the value of the open of the coming weekly bar and filter out several pairs from consideration. With the remaining ones, I can see the direction bias. So I can already have some select pairs that I intend to watch closely that I put onto a screen and save as a profile. I consider having filtered out "questionable" pairs along with having a set of pairs of interest before the week begins as a worthwhile edge.
To free Gazans of Hamas, use whatever it takes.
  • #2,650
  • Aug 9, 2019 1:27pm Aug 9, 2019 1:27pm
Quoting 40PipsAlan
{quote} Praise indeed. Trades improving on a daily basis, excellent system.

Well, I always believe in 100% mechanical rule-based method using technical indicators.

So far RobinHood has shared only the BASICS he mentioned in his Post#1418. I don't know when he will share the ADVANCED stuff but I am very patient person and right now doing what I already learned and use my own discretion what trade setup to take.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #2,651
  • Aug 9, 2019 2:48pm Aug 9, 2019 2:48pm
Quoting emmanuel7788
{quote} Well, I always believe in 100% mechanical rule-based method using technical indicators. So far RobinHood has shared only the BASICS he mentioned in his Post#1418. I don't know when he will share the ADVANCED stuff but I am very patient person and right now doing what I already learned and use my own discretion what trade setup to take.
Emmanuel, its a pleasure watching you trade and answer the many questions that arise here. so patient and knowledgable. Have a great weekend and once again thank you for being here,
regards,
Peter
Just trying to put a kiss on the cheek of success
  • #2,652
  • Aug 9, 2019 3:51pm Aug 9, 2019 3:51pm
Hello everyone. Accordint to the method rules can you give me an opinion abut the last days of the week on EUR USD.
Were the condition present for entering Long/Short ?
Thanks in advance
  • #2,653
  • Aug 9, 2019 4:00pm Aug 9, 2019 4:00pm
Let me guys give you a hint about the indicators and especially the RSI throught a video.

RH already sayed that you always have to consider the side of the RSI and trade in that direction.

Anyway indicators are just a mathematical formula, nothing fancy about them.

This guy just really nailed it and i really like his videos.

The old dogs knows better.

Inserted Video
  • #2,654
  • Aug 9, 2019 4:11pm Aug 9, 2019 4:11pm
This one is my fault. Always place a SL few pips above the candle you choosed. Now the market continued down without me but it is a fair game. I am paying the price for not being precise enough.
Attached Image (click to enlarge)
Click to Enlarge Name: nzdcad-h4-international-capital-markets.png Size: 90 KB
  • #2,655
  • Aug 9, 2019 7:43pm Aug 9, 2019 7:43pm
Quoting coloroffeels
This one is my fault. Always place a SL few pips above the candle you choosed. Now the market continued down without me but it is a fair game. I am paying the price for not being precise enough. {image}
NZDCAD is in my favourite group#5 AUDCAD, AUDNZD and NZDCAD.

under those market conditions seen with that big candle I would normally avoid trading until the price has move out of that big candle range.

when trading the CONTINUATION setups, placing the initial SL using the previous two candles high/low will work out most of the time.

but your trade was not a CONTINUATION setup and neither was it a CROSSOVER setup.

one consideration would be to use the ATR(10) H4 which is your chart timeframe and the ATR(10) was about 31 pips and placing a SL 2xATR(10) would be a consideration when it is not a CONTINUATION setup, your R = 64pips . But then looking at that big candle, I don't see there is room for a minimum 1.5R trade in such a situation. The better decision would have been .. look for another pair with a better R:R potential.
Attached Image (click to enlarge)
Click to Enlarge Name: coloroffeels NZDCAD 10-08-2019 08-20-21.png Size: 292 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #2,656
  • Aug 9, 2019 8:05pm Aug 9, 2019 8:05pm
Quoting sahara85
Hello everyone. Accordint to the method rules can you give me an opinion abut the last days of the week on EUR USD. Were the condition present for entering Long/Short ? Thanks in advance
Hello sahara85

AN important thing I learned in this business is this:

Remember these five famous quotes by the late Mark Douglas:
1. Anything can happen.
2. You don’t need to know what is going to happen next in order to make money.
3. There is a random distribution between wins and losses for any given set of variables that define an edge.
4. An edge is nothing more than an indication of a higher probability of one thing happening over another.
5. Every moment in the market is unique.

Now to do my usual post-mortem POMO of last week,

two charts below with comments.

Weekly
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD Week 32 POMO W1 10-08-2019 08-47-52.png Size: 51 KB


Daily
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD Week 32 D1 POMO 10-08-2019 08-50-06.png Size: 57 KB


for next week 33 Aug 12 to 16, you can do your own weekend homework and prepare your trade plan.

Have a good weekend.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #2,657
  • Aug 9, 2019 8:33pm Aug 9, 2019 8:33pm
Hi Emmanuel,

So looking at the Gbp/Usd u will be looking to sell next week as the closed weekly candle & heiken ashi was bearish. Unless there is a huge bullish Monday candle right?

Regards
Dennis
  • #2,658
  • Aug 10, 2019 12:07am Aug 10, 2019 12:07am
Report for the week. 14 trades of 2 units, 6 of which were full losers, with some BE here and there.
Net positive in pips, but that doesn't mean much, what matters more is what does that mean in terms of R. And for me that's a +0R week, I'm ok with that.

Attached Image (click to enlarge)
Click to Enlarge Name: Report.PNG Size: 33 KB
  • #2,659
  • Aug 10, 2019 1:55am Aug 10, 2019 1:55am
Quoting 40PipsAlan
Trading made Simple(r) So we don't need to know how an indicator works. We just need to know how to apply them for improved trading success. And it does. {image}
interesting chart.
I don't see how it fits in this thread though !?
Are you saying you are trading the 15min timeframe just in case of stoch cross overs ?
Or do you trim you entries in continuation / crossover setups, according to RH's Strat using the 15 min timeframe and the crossovers you marked ??

Greetz !
  • #2,660
  • Aug 10, 2019 2:05am Aug 10, 2019 2:05am
Quoting mtacki
{quote} interesting chart. I don't see how it fits in this thread though !? Are you saying you are trading the 15min timeframe just in case of stoch cross overs ? Or do you trim you entries in continuation / crossover setups, according to RH's Strat using the 15 min timeframe and the crossovers you marked ?? Greetz !
Lol. No it was just a graphic from google showing the stochastic buy and sell signals and the fact that we don’t really need to know how they are generated.
good trading next week to all.
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