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Trading Made Simple(r)

  • #3,521
  • Sep 2, 2019 7:20am Sep 2, 2019 7:20am
Quoting 40PipsAlan
{quote} Sounds good to me {image}
I missed getting in right at the start of the move as I was working when the new candle started, but it looks like there's still plenty left.
  • #3,522
  • Sep 2, 2019 7:33am Sep 2, 2019 7:33am
Quoting Marcusv007
{quote} My 2 cents, only food for thought from my account of August. Advanced techniques [perhaps you speak of RH's pilot project] (the beauty of the method is in the simplicity compared to all that hours of chart analyzing, charts overloaded with various tools The market in all its righteousness gave us a period of varying conditions that I think needed patience, some days I didn't even trade ... i have a new found patience for the right conditions and or opportunities to trade. I'd rather preserve my account. You wouldn't try fly a kite...


“It was a tough competition and there were volatile market conditions during the 3 months of trading. Winning the competition was a balance of finding quality trading opportunities, applying sophisticated money management and having the discipline not to trade and risk giving up the lead,”

And he is trading , without indicators
  • #3,523
  • Sep 2, 2019 7:38am Sep 2, 2019 7:38am
Quoting Amateur4Ever
I think I begin to understand this method. These are my open trades at the moment according to my entry rules. I have two demo-accounts because in the MT4-demo I only have 1000,- to play with. In the MT5 demo I have 10.000,- so I use the entry-signals on MT4 and place them in the MT5. On both I risk 2% of the account. Are you still following me? LOL {image} {image}

good lock in the future trading a live account, total different ballgame, all you learned will
be upside down, when you risk your own money..

I hope you know, trading is about 80% mental
  • #3,524
  • Sep 2, 2019 8:12am Sep 2, 2019 8:12am
Also just entered audusd, clear signal for me :-)
And the rest is still going strong.....
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  • #3,525
  • Sep 2, 2019 8:51am Sep 2, 2019 8:51am
I am also forward testing trading the short term charts on gold with a version of this strategy. Mainly the M15, using the M1 and M5 to refine the entrance. I'm currently hitting a consistent 1% or so a day but only for the last 10 days, so we'll see where I am in 6 months!
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  • #3,526
  • Sep 2, 2019 9:18am Sep 2, 2019 9:18am
Quoting itsDavid
I am also forward testing trading the short term charts on gold with a version of this strategy. Mainly the M15, using the M1 and M5 to refine the entrance. I'm currently hitting a consistent 1% or so a day but only for the last 10 days, so we'll see where I am in 6 months! {image}
Just wondering what the best session would be for this? Sounds like a little hobby for my evenings if that works.
  • #3,527
  • Sep 2, 2019 9:32am Sep 2, 2019 9:32am
Quoting 40PipsAlan
{quote} Just wondering what the best session would be for this? Sounds like a little hobby for my evenings if that works.
I'm mainly waiting until the US session starts though I certainly couldn't say yet what time periods are optimal. I have had some decent success in the evening (I'm also UK). My feeling right now is that as long as the US session is still open there is enough movement and liquidity to make it viable. Like I said though, I really need to see how I stand after 6 months. Ten days is close to meaningless.
  • #3,528
  • Sep 2, 2019 9:41am Sep 2, 2019 9:41am
Did anyone else see EURCAD as a valid continuation trade or did I just get lucky with this one?

ADDED: I would like to note that one thing that drew me to it is the long wicks on the bearish candles, and the very short bullish candles. To my amateur eyes they suggest the rejection on a bullish reversal and a sign that it will continue downward, at least in the short term. Which is all I really need it to do. I'm not planning to still be in the trade when the market closes. I am open to the idea that this analysis might be utter crap though!

ADDED: Also, I think the current bar is forming a bearish pin bar, which I again take as a sign that it will continue downwards for a while. At least the next few candles.
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  • #3,529
  • Sep 2, 2019 9:48am Sep 2, 2019 9:48am
Quoting itsDavid
Did anyone else see EURCAD as a valid continuation trade or did I just get lucky with this one? ADDED: I would like to note that one thing that drew me to it is the long wicks on the bearish candles, and the very short bullish candles. To my amateur eyes they suggest the rejection on a bullish reversal and a sign that it will continue downward, at least in the short term. Which is all I really need it to do. I'm not planning to still be in the trade when the market closes. I am open to the idea that this analysis might be utter crap though! {image}...
Not for me, HMA is still green on my chart:
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  • #3,530
  • Sep 2, 2019 9:52am Sep 2, 2019 9:52am
Quoting Amateur4Ever
{quote} Not for me, HMA is still green on my chart: {image}
That's odd. As you can see it isn't on mine. I waited for it to turn before I took the trade.
  • #3,531
  • Sep 2, 2019 9:54am Sep 2, 2019 9:54am
GBP/CAD looking good too. GBY/JPY romped home 2R
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  • #3,532
  • Sep 2, 2019 10:00am Sep 2, 2019 10:00am
audusd not looking quite as good though, I'm keeping an eye on that one, lol
  • #3,533
  • Sep 2, 2019 10:02am Sep 2, 2019 10:02am
I also have silver in my basket. Green all the way on the console.
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  • #3,534
  • Sep 2, 2019 11:18am Sep 2, 2019 11:18am
After entering on any trade, I put my S/L 2 bar back as Robinhood recommended, then instead of putting T/P I just put Trailing stop as same the size of S/L. It's usually 30-35 pips. Using this strategy I've been profitable so far. My Question to Robinhood and Emmanuel, "According to your experience using this method, if I keep doing what I've mentioned, What you think I'll be profitable in long run?" Can you please give me any other suggestions that I can follow!!" I don't know how I can give you thanks because I've learned lots of thing from Robinhood and Emmanuel both. Hats of you sir
  • #3,535
  • Edited 11:46am Sep 2, 2019 11:26am | Edited 11:46am
Quoting rhzishan
After entering on any trade, I put my S/L 2 bar back as Robinhood recommended, then instead of putting T/P I just put Trailing stop as same the size of S/L. It's usually 30-35 pips. Using this strategy I've been profitable so far. My Question to Robinhood and Emmanuel, "According to your experience using this method, if I keep doing what I've mentioned, What you think I'll be profitable in long run?" Can you please give me any other suggestions that I can follow!!" I don't know how I can give you thanks because I've learned lots of thing from Robinhood...
You would likely be much more profitable if you changed your Profit Target to 1.5 or 2 x the size of your stop.

Your winning percentage will go down, but your profits will most likely go up.

At 1:1 (stop and profit target) and 50% winning trades, you ONLY break even, PLUS, you also have to consider the spread you are paying on every trade.
Always a Student, Never a Master - Emulate What Works
  • #3,536
  • Sep 2, 2019 11:49am Sep 2, 2019 11:49am
Quoting RobinHood
{quote} You would likely be much more profitable if you changed your Profit Target to 1.5 or 2 x the size of your stop. Your winning percentage will go down, but your profits will most likely go up. At 1:1 (stop and profit target) and 50% winning trades, you ONLY break even, PLUS, you also have to consider the spread you are paying on every trade.
Wouldn't having a trailing stop rather than a hard stop loss mean that they would actually make profit on a 50/50 win loss ratio? I'm not saying the sl/tp ratio is correct, just that it doesn't necessarily end up break even given that it's trailing in this case.
  • #3,537
  • Sep 2, 2019 12:47pm Sep 2, 2019 12:47pm
Quoting itsDavid
{quote} Wouldn't having a trailing stop rather than a hard stop loss mean that they would actually make profit on a 50/50 win loss ratio? I'm not saying the sl/tp ratio is correct, just that it doesn't necessarily end up break even given that it's trailing in this case.
I may have misunderstood his first sentence, BUT after reading it again, I am still not 100% positive of what he is saying.

BUT, if he means what I think he said, I don't understand the logic.
Always a Student, Never a Master - Emulate What Works
  • #3,538
  • Sep 2, 2019 12:54pm Sep 2, 2019 12:54pm
Quoting RobinHood
{quote} I may have misunderstood his first sentence, BUT after reading it again, I am still not 100% positive of what he is saying. BUT, if he means what I think he said, I don't understand the logic.
I don't set Take Profit at all. What I do is setting the Trailing stop about 35 Pips then let the market decide what's going to be the destination of that trade!! I think you misunderstood what I meant on the first post. Thanks dear
  • #3,539
  • Sep 2, 2019 2:27pm Sep 2, 2019 2:27pm
gbpaud daily setup cut loss after red bars and stochastic 8 3 3 under 0 line at last night bar open
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  • #3,540
  • Sep 2, 2019 2:50pm Sep 2, 2019 2:50pm
Quoting forexdg
gbpaud daily setup cut loss after red bars and stochastic 8 3 3 under 0 line at last night bar open {image}
Just my take on it. But too many bars for the crossover to take place. Any more than 4 bars is too risky IMO.
I would have passed on that one.
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