Spoof's Trading Made Simple(r) Journal | Page 28 | Forex Factory

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Spoof's Trading Made Simple(r) Journal

  • #541
  • Aug 13, 2019 5:18am Aug 13, 2019 5:18am
Quoting Ibar51
{quote} The method is to avoid trades that are more than 3 to 4 blue/red candles old preferably 2 to 3.
Spoof's TMS does not avoid 3 to 4 blue/red candles old. To my understanding. Thanks.
  • #542
  • Aug 13, 2019 5:20am Aug 13, 2019 5:20am
Quoting 40PipsAlan
{quote} Break even EA could save a few losses!
I already apply moving Risk to 50% of Risk when 1R reaches.
  • #543
  • Aug 13, 2019 7:42am Aug 13, 2019 7:42am
Quoting chnp
{quote} Spoof's TMS does not avoid 3 to 4 blue/red candles old. To my understanding. Thanks.
Signal Candle: For long trades the signal candle is the first or second green candle to close above the HMA and the smTMMS oscillator is green. For short trades the first or second red candle to close below the HMA and the smTMMS oscillator is red. Try to avoid trading large candles.

I will take later candles on occasion.
Emotion - it steals your money.
  • #544
  • Aug 13, 2019 7:53am Aug 13, 2019 7:53am
Quoting chnp
{quote} Hi Spoof, Thank you for such a great thread. I read every line and video. And then I back-tested AUDUSD and I could get a 40% winning rate. If I use trailing, maybe I would get a higher winning rate. I found it would be quite a high loss rate when the trend was ranging. Like the pic attached. I lost every single trade. How to avoid this kind of trades? I think to avoid large K-line entry might be a help. {image}
Alot of those trades could have broke even or exit with profit if you had trailed your SL at the top/bottom of previous 2 candles.
Detach yourself from the value of money - Mr. Pip
  • #545
  • Aug 13, 2019 7:54am Aug 13, 2019 7:54am
Quoting chnp
{quote} Hi Spoof, Thank you for such a great thread. I read every line and video. And then I back-tested AUDUSD and I could get a 40% winning rate. If I use trailing, maybe I would get a higher winning rate. I found it would be quite a high loss rate when the trend was ranging. Like the pic attached. I lost every single trade. How to avoid this kind of trades? I think to avoid large K-line entry might be a help. {image}
There are some bad entries in there especially with the large candles. Stops weren't effectively trailed to shed risk and some of those trades you could have gotten out at the color change in candles. Now that being said, if you had read my first post and watched my video (below) about how to chose pairs to trade you wouldn't be trading this pair in the first place. My win rate is only about 45% and I am making money. Why because my money management allows me to ensure my winning trades are on average large than my losing trades and so far I am about 2:1 on average.

This is not necessarily a completely mechanical system and I think you need to use some market knowledge especially when it comes to protecting your trading capital. You simply have to take small losses and have bigger wins. Take for example last week where I had 5 negative trades but they only totaled 2.7R I didn't take a full 5R total on those trades because I trade defensively. The good trades with this system happen fast so if I get in a place where price starts to stall I will get out. I didn't put this sort of thing in my first post because it is very subjective and difficult to teach people.
Inserted Video
Emotion - it steals your money.
  • #546
  • Aug 13, 2019 8:02am Aug 13, 2019 8:02am
I am really tempted to take the rest of this month off, folks. Take my 1R profit this month and be happy Price action is absolute crap on the pairs I am trading. Of course I will do that and then the nice big moves come! Just my luck. We can't make any money if the market isn't giving us any
Emotion - it steals your money.
  • #547
  • Aug 13, 2019 8:03am Aug 13, 2019 8:03am
Entered UJ H4 continuation short

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 99 KB
Detach yourself from the value of money - Mr. Pip
  • #548
  • Aug 13, 2019 8:03am Aug 13, 2019 8:03am
GBPCAD, EURCAD and USDJPY entered
  • #549
  • Aug 13, 2019 8:28am Aug 13, 2019 8:28am
Quoting Supreme1394
Entered UJ H4 continuation short {image}
same here
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYH4 - entry.png Size: 33 KB
  • #550
  • Aug 13, 2019 8:42am Aug 13, 2019 8:42am
Quoting Ibar51
{quote} The method is to avoid trades that are more than 3 to 4 blue/red candles old preferably 2 to 3.
I reviewed spoof's 2nd video. Yes, he said only enter a trade in 1st or 2nd candle. You are right.
  • #551
  • Aug 13, 2019 8:43am Aug 13, 2019 8:43am
oookay-
that was a too tight stop loss it seems :-/
that a short trade
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYH4 - stoploss.png Size: 25 KB
  • #552
  • Aug 13, 2019 8:51am Aug 13, 2019 8:51am
Quoting mtacki
oookay- that was a too tight stop loss it seems :-/ that a short trade {image}
More like spikey news. took me out too
  • #553
  • Aug 13, 2019 8:52am Aug 13, 2019 8:52am
Condolences to you guys that just got stopped out of your Yen shorts. Got to be careful when price is sideways and the candles are small. You cannot have stops that are too tight like many of you showed on your charts. Regardless, the current candle is spiking up really good and could continue - a wider stop wouldn't have saved you here anyway. It's already passed the last swing points. Whoo! GBPAUD and USOUSD are also going crazy.

I hope it goes without saying...do not chase this price action! This is a time to sit on our hands guys.
Emotion - it steals your money.
  • #554
  • Aug 13, 2019 8:59am Aug 13, 2019 8:59am
WHAT IS THIS ???
Attached Image (click to enlarge)
Click to Enlarge Name: D5111AEE-77DA-4BB6-B90F-A60470E0903E.jpeg Size: 567 KB
  • #555
  • Aug 13, 2019 9:00am Aug 13, 2019 9:00am
Quoting mtacki
WHAT IS THIS ??? {image}
It's craziness is what it is
Emotion - it steals your money.
  • #556
  • Aug 13, 2019 9:05am Aug 13, 2019 9:05am
Got stopped out of this trade but I don't know if my eyes are deceiving me but I'm sure I entered when the oscillator had closed in the red as a continuation trade. Do you think the oscillator repaints? Very strange.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 140 KB
  • #557
  • Aug 13, 2019 9:08am Aug 13, 2019 9:08am
Quoting mtacki
WHAT IS THIS ??? {image}
Chinese Vice PM called US Secretary of the Treasury..... And they will have calls in 2 week.
  • #558
  • Aug 13, 2019 9:18am Aug 13, 2019 9:18am
Quoting chnp
{quote} Chinese Vice PM called US Secretary of the Treasury..... And they will have calls in 2 week.
USD Core CPI in the green just came in also.

I also use VWAP on my chart. only trade when price is above or below. Set to Monthly. Weekly on anything below H1 charts.
Attached File(s)
File Type: ex4 Any Time Frame VWAP.ex4   11 KB | 296 downloads
File Type: mq4 Any Time Frame VWAP.mq4   3 KB | 318 downloads
Trade what "Is", not what "If".
  • #559
  • Aug 13, 2019 9:22am Aug 13, 2019 9:22am
Quoting chnp
{quote} Chinese Vice PM called US Secretary of the Treasury..... And they will have calls in 2 week.
He should have called me first
  • #560
  • Edited 10:07am Aug 13, 2019 9:44am | Edited 10:07am
I got lucky. Was long CHFJPY on that news spike.Tariffs postponed till December. Boom!

Cavemanager grabbed 1.3 R on 75% but I should still have a 25% runner in play and I don't. Forensic investigation to follow.

B
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