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Trading Made Simple(r)

  • #3,281
  • Aug 24, 2019 6:16am Aug 24, 2019 6:16am
Quoting OnAJourney
For those of you who feel like RobinHood's method isn't working, you have to remember that he is an experienced trader. He's done a great service to FF with showing his system. RH, I hope you don't mind me posting this, but I feel like this might give other traders clarity and that's goal of this amazing thread. If people don't like what I'm posting, I'm okay with that because I stay profitable and I only answer to myself... as we all do. I like RH's original Stochastic Indicator/RSI but I personally like the Sto Indi with alerts and I've changed...
Hi, the BB_Alerts_Arrow indicator repaints.
  • #3,282
  • Aug 24, 2019 7:26am Aug 24, 2019 7:26am
Quoting josi
{quote} Quite so - but some people use your methodology extremely mechanically and - if you believe the postings - some lost real money because they didn't understand that what you so generously offered were instruments to be used when the market was in a trending move - ONLY. So - once you had offered your gift to the community - some made excellent use of it, and some less so by disregarding basic price action principles. And suddenly the question of responsibility arises: should you - as you are now quite aware of the fact that some were incapable...
I belive youre right
telling me I have to decide when to exit just make me go back to where I was before (loser in trading)
what I need is to know the rules for exit like I know the rules for entry
more help is need here than just 'you decide when to exit'
  • #3,283
  • Aug 24, 2019 7:31am Aug 24, 2019 7:31am
Quoting emmanuel7788
{quote} template#1 will work for me. ENTRY conditions based on 7 indicators is good and I will know my results when I completed 3,000 trades, this may take 24 to 36 months. it is the choice of EXIT, well if I have to pick 1 of the 11, then it would be No. 1 Perhaps, we all can add just one more EXIT_12... "Trump Tweet exit". Is it time for some of your ADVANCED things yet?
emmanuel, you can show what you look in weekly time frame to know direction for next weel?
I belive its important step to know where market is going
if I take the bad direction I lose
how I know the right direction when I look at w1 before new week start?
its simply a bar close on one side of the yellow 5ema? its all 7 indicators? its something else?
your help is apreciate
  • #3,284
  • Aug 24, 2019 7:37am Aug 24, 2019 7:37am
Quoting forexdg
{quote} I belive youre right telling me I have to decide when to exit just make me go back to where I was before (loser in trading) what I need is to know the rules for exit like I know the rules for entry more help is need here than just 'you decide when to exit'
THERE IS NO ONE SINGLE PERFECT EXIT

I have written many, many, many other times that what I do is I place my stop 1-2 bars back and move it as prices progresses until I am stopped out.

Other than that, what I wrote in Post # 1 is the best I can offer at this point.

Exit Methods

Just some of the possible ways...

1. Candles change to the opposite color(s)

2. RSI crosses the Purple 50 Line in the opposite direction

3. HMA Line turns the opposite color

4. A candle closes on the opposite side of the Yellow Line

5. One or both Stochastics cross the Purple 50 Line in the opposite direction

6. The HMA Line and the Yellow Line cross to the opposite direction

7. Stop Loss (including a trailing stop) gets hit

8. Profit Target is reached

9. The market stalls, or slows down to a crawl, or gets choppy

10. The trend changes direction

11. Plus many others, such as: Fibonacci spots, support and resistance areas, retracements, time of day, holidays, weekends, etc.
Always a Student, Never a Master - Emulate What Works
  • #3,285
  • Edited Aug 25, 2019 12:53am Aug 24, 2019 7:39am | Edited Aug 25, 2019 12:53am
Quoting josi
{quote} Quite so - but some people use your methodology extremely mechanically and - if you believe the postings - some lost real money because they didn't understand that what you so generously offered were instruments to be used when the market was in a trending move - ONLY. So - once you had offered your gift to the community - some made excellent use of it, and some less so by disregarding basic price action principles. And suddenly the question of responsibility arises: should you - as you are now quite aware of the fact that some were incapable...
Rubbish. We are all adults in this forum if you can not take responsibility for your own actions you shouldnt be here or infact trading for that matter.

Btw there is an old saying: Dont look a gift horse in the mouth.
Translated Means: when receiving a gift be grateful for what it is; don't imply you wished for more by assessing its value.
The more you learn, the more you see
  • #3,286
  • Edited 8:01am Aug 24, 2019 7:48am | Edited 8:01am
Fellow traders there is a misconception I see in the thread, and surely one can not try to look for explanations everywhere else but with ones self
Imho.
I will say there is a wealth of information in this thread from post 1 all the way through yes alot of pages hold meaningles info but there are gems hidden amongst those pages you must go through them for the nuggets. As you do the earth looking for diamonds or gold...

Secondly alot has been shared by various traders experienced and the learner if you haven't been absorbing and studying it all no matter how menial you need to question your desire to be a successful trader. 2 very good books have been shared here that 1. Gives you the correct mindset to trading beyond trading but your chatacter internally, emotionally, addressing even your childhood lol.. and 2 these books give the tools to navigate the volatile waters that is the forex market amongst many other things.

Alot of studying, researching, testing, practising is required before you just go with some new system into a live market. We seriously can not be repeating the same errors over and over again.
The more you learn, the more you see
  • #3,287
  • Aug 24, 2019 8:00am Aug 24, 2019 8:00am
Quoting forexdg
{quote} I belive youre right telling me I have to decide when to exit just make me go back to where I was before (loser in trading) what I need is to know the rules for exit like I know the rules for entry more help is need here than just 'you decide when to exit'
How about trying a trailing stop? Enter Trade and forget all about it? Measure 2 candles back and put it in trailing stop EA.
  • #3,288
  • Aug 24, 2019 9:17am Aug 24, 2019 9:17am
Quoting 40PipsAlan
Bout time we got a winner {image}

congrats to your winner, if you got out

I like to mention though, despite the fact you won, you did enter at the wrong time!
To win a trade does not mean your trade was executed well.
I would say it was a rather poor execution, and if you trade like this in the future you will be exposed to more loser than winner!

I personally dont like trailing stop, I have my SL and that should do the trick
If executed well the trade should hit his target, if not hit your SL, if you have the right Money Management
this shall not bother you because this is what trading is all about..nobody wins all the time, thats why you have to make
at least 1:1 trades or obviously much better 2:1 or more, its a numbers game and 80% is the traders mind.

hope I did not make you feel bad, but after more then ten years trading I learn a thing or two
better I have seen traders come and go, most never came back, they say 95% trader are loser, I say 98%
  • #3,289
  • Aug 24, 2019 9:32am Aug 24, 2019 9:32am
Quoting Marcusv007
{quote} Rubbish. We are all adults in this forum if you can not take responsibility for your own actions you shouldnt be here or infact trading for that matter. Btw there is an old saying: never look a gift horse in the mouth.

I agree with you, but all make their own decisions, nobody has to trade like this.

Trader include myself ( well not anymore but it hunted me for years), looking for the Holy Grail
most dont understand the basics of a chart and for this the flow, less do they understand price action
No one indicator is as good as is to know price action,
indicators are showing past time, they show what happen yesterday or an hour ago, depends on the TF used
yes they can help, but at the end the market is not dictated from indis, but from Market Makers, and this means Supply and Demand
if you like to become a trader, well you have to know S/D and waves help as well

No misunderstanding, I know successful traders trading MAs to make entries and as well to exit
I even know a successful trader, he only goes for 3 or 6 pips at the time and he makes tons of money
its all about knowledge and patience if you are not patient, dont trade or change your mindset
  • #3,290
  • Aug 24, 2019 10:10am Aug 24, 2019 10:10am
Quoting foureggs
nobody wins all the time, thats why you have to make at least 1:1 trades or obviously much better 2:1 or more,
Interesting. I don't really look at R:R, but just for reference, I am usually using 10 risk to 1 reward. But maybe because I take trades with such a high probability of the price moving the number of pips that I target before ever reaching the SL, I don't need to worry about it.
To free Gazans of Hamas, use whatever it takes.
  • #3,291
  • Aug 24, 2019 10:17am Aug 24, 2019 10:17am
Quoting foureggs
{quote} congrats to your winner, if you got out I like to mention though, despite the fact you won, you did enter at the wrong time! To win a trade does not mean your trade was executed well. I would say it was a rather poor execution, and if you trade like this in the future you will be exposed to more loser than winner! I personally dont like trailing stop, I have my SL and that should do the trick If executed well the trade should hit his target, if not hit your SL, if you have the right Money Management this shall not bother you because this...
Most defo late to that party indeed. Just shows pips can be made even with late entries. I am still in this trade at breakeven +20 so it can do whatever it likes. Its the SL we dont like hitting like most of August. Keep the suggestions coming.
  • #3,292
  • Aug 24, 2019 10:17am Aug 24, 2019 10:17am
Quoting foureggs
but at the end the market is not dictated from indis, but from Market Makers, and this means Supply and Demand if you like to become a trader, well you have to know S/D and waves help as well
if you like to become a trader, well you have to know S/D.Utter nonsense!
I once did some studying of S/D. Did I find it interesting? Yes.
Did I find it a tool useful for helping me to make trade decisions? No.
Do I use indicators? Yes--LAGGING ones.
To free Gazans of Hamas, use whatever it takes.
  • #3,293
  • Aug 24, 2019 1:13pm Aug 24, 2019 1:13pm
Quoting forexdg
{quote} I believe you're right telling me I have to decide when to exit just make me go back to where I was before (loser in trading) what I need is to know the rules for exit like I know the rules for entry more help is needed here than just 'you decide when to exit'
...logically, in TA perspective... The quickest exit method to think of is the way you entered into a trade (opposite manner), then go from there... Such as, moving your SL dynamically or manually or based on your position sizing (which should be known before entry),... etc.
Since Frank Sinatra sings in his own way, my chart sing... I did it, my way
  • #3,294
  • Aug 24, 2019 1:23pm Aug 24, 2019 1:23pm
Quoting Pepetrueno
{quote} Hi, the BB_Alerts_Arrow indicator repaints.
Yes, I mentioned that in a discussion in this thread already. Don't trade from it! As I said, I don't care if it repaints because all I'm looking for is an alert for a pair to pay attention because at some point the arrow remains and aligns with my indicators for a trade. It's simply a tool to let you know when a pair is hitting a limit... nothing more, nothing less.

Cheers
  • #3,295
  • Aug 24, 2019 1:26pm Aug 24, 2019 1:26pm
Quoting reo4ua
Results trading 4h charts - Robinhood suggested pairs with the entry method described in post #1. I didn't always move to m5 for entry however. Stop was set two bars back with take profit of 2r. Once 1r was achieved, my stop was moved to BE +5 and tightened up from there based on positive price movement. Interesting to note that as I exited trades I would leave the fib on the chart set to show reward levels. A few days later when returning to the charts, 3-6r was achieved in many cases without significant pullbacks. So there's something to be said...

Learned this moving SL to BE+ from Big E long ago with his TMS method. This is a really good strategy for capital preservation for noobs... to get the feel and experience.
Since Frank Sinatra sings in his own way, my chart sing... I did it, my way
  • #3,296
  • Aug 24, 2019 2:49pm Aug 24, 2019 2:49pm
Quoting DrDave
{quote} if you like to become a trader, well you have to know S/D.Utter nonsense! I once did some studying of S/D. Did I find it interesting? Yes. Did I find it a tool useful for helping me to make trade decisions? No. Do I use indicators? Yes--LAGGING ones.

I am sure you are a long time trader and you make a living off it.

I did not believe in S/D either, just its dominating the market sentiments.

Do thrades without follow S/D make money in trading, yes they do
But they know not to trade into a S or D area.

and yes you are entitled to have your opinion but trading is not an opinion
its what it is, S/D you like it or not,
BTW: you mentioned lagging indicators, well there are no others
besides crystal balls

If one knows S/D one can make a calculated decision to enter a trade or not
also you can make better decision to exit trades...with or without indicators, because they want tell you when to exit.

S/D also can tell you with a high possibility about how far the trade might go at least, days before you enter a trade, no indicator can tell you this...

Utter nonsense, well its your opinion, perhaps most opinions are utter nonsense

...
  • #3,297
  • Aug 24, 2019 2:56pm Aug 24, 2019 2:56pm
Quoting v2vboni
{quote} Learned this moving SL to BE+ from Big E long ago with his TMS method. This is a really good strategy for capital preservation for noobs... to get the feel and experience.

the problem moving S/L to break even can become a mentally challenge,
I dont know how often but more than hundreds off times I did this, just to get stopped out
and the price reversed on the pip and continued in my direction, well I was obviously not on the train anymore

Studies showed even that one make more pips to get stopped out, and let price do his job than visa versa
but these studies also let the trade run for 5:1 and even 10:1
I myself dont do this, I like to close trades the same day, guess about 80% off time
also this depends on what TF one is trading..

trading has so many form off it, hundred or perhaps even thousands
it all on you and your mentality, even this sounds utterly strange
  • #3,298
  • Aug 24, 2019 3:19pm Aug 24, 2019 3:19pm
Quoting foureggs
{quote} I am sure you are a long time trader and you make a living off it. I did not believe in S/D either, just its dominating the market sentiments. Do thrades without follow S/D make money in trading, yes they do But they know not to trade into a S or D area. and yes you are entitled to have your opinion but trading is not an opinion its what it is, S/D you like it or not, BTW: you mentioned lagging indicators, well there are no others besides crystal balls If one knows S/D one can make a calculated decision to enter a trade or not also you can...
The utter nonsense is appropriate here because you stated in a tone of fact, "...you have to know S/D". You have a bad habit of making statements that have the appearance of being facts, but you give no supporting evidence. This is a disservice to traders that have little education or experience in trading, because they perceive that the "expert" said it, so it must be the way it is. No one HAS to know S/D to make money trading, contrary to your statement that one HAS to know it. Or is this just your OPINION?

You make a claim that S/D dominates market sentiments. Where is your supporting evidence? Or is this just your OPINION?

And no, it was not an OPINION that I gave when I said your STATEMENT is utter nonsense. You yourself have now even back-tracked on knowing S/D is a must! If that was your OPINION, then make the statement that it is your opinion instead of presenting it as fact.
To free Gazans of Hamas, use whatever it takes.
  • #3,299
  • Aug 24, 2019 4:35pm Aug 24, 2019 4:35pm
Quoting forexdg
{quote} I belive youre right telling me I have to decide when to exit just make me go back to where I was before (loser in trading) what I need is to know the rules for exit like I know the rules for entry more help is need here than just 'you decide when to exit'
forexdg - you need to backtest the process and find out what works for YOU!!!
  • #3,300
  • Aug 24, 2019 4:43pm Aug 24, 2019 4:43pm
Quoting josi
{quote} Quite so - but some people use your methodology extremely mechanically and - if you believe the postings - some lost real money because they didn't understand that what you so generously offered were instruments to be used when the market was in a trending move - ONLY. So - once you had offered your gift to the community - some made excellent use of it, and some less so by disregarding basic price action principles. And suddenly the question of responsibility arises: should you - as you are now quite aware of the fact that some were incapable...
Yep RH - you are totally to blame for not spoon feeding every newcomer here - There is no need for them to do ANY research, backtesting or know anything about mm......it's your fault that the process is not spelt out completely and I'm flabbergasted that people would come on here (or anywhere in fact) and expect to be handed a process that makes the money with no thought at all.............it's tantamount to walking into a Doctors office and complaining you don't know how to operate and have the patient survive!!!???? What right do the losers have to put/suggest responsibility lies with RH - or the broker hunting stops or always blaming something but NEVER themselves or their lack of willingness to put in some hard work.
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