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Trading Made Simple(r)

  • #3,581
  • Sep 4, 2019 4:16am Sep 4, 2019 4:16am
How bout these 2
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  • #3,582
  • Sep 4, 2019 4:20am Sep 4, 2019 4:20am
Quoting emmanuel7788
USDJPY Sep04 H6 {image}
I'm sadly short.
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  • #3,583
  • Sep 4, 2019 4:27am Sep 4, 2019 4:27am
Is it a good entry?

Buy signal appear in H4 but downtrend in D1
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  • #3,584
  • Edited 5:46am Sep 4, 2019 5:25am | Edited 5:46am
Quoting 40PipsAlan
How bout these 2 {image} {image}
I'm struggling with the idea of "selling" the JPY in any currency pair .

But risk on I suppose.

Cheers.
  • #3,585
  • Sep 4, 2019 7:33am Sep 4, 2019 7:33am
Quoting krismitt
{quote} I'm struggling with the idea of "selling" the JPY in any currency pair . But risk on I suppose. Cheers.
Based on what I see, all of the JPY Monthly and Weekly charts are DOWN, so don't be fearful of shorting them when the opportunity arises.

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I am NOT saying don't take any long signals. I am just saying don't be fearful of shorting if you get a signal.
Always a Student, Never a Master - Emulate What Works
  • #3,586
  • Sep 4, 2019 7:35am Sep 4, 2019 7:35am
Quoting krismitt
{quote} I'm struggling with the idea of "selling" the JPY in any currency pair . But risk on I suppose. Cheers.
Why?? I did 2 buys and a sell today of GBPJPY, all winners. (Not using tools of this system, though.)
To free Gazans of Hamas, use whatever it takes.
  • #3,587
  • Sep 4, 2019 9:10am Sep 4, 2019 9:10am
Quoting 40PipsAlan
How bout these 2 {image} {image}

my 5 cents
you are trading into a wall..round numbers always be careful
and trend is down
so chances are rather against you
your indicators also are hitting the top levels

but who knows
  • #3,588
  • Sep 4, 2019 9:48am Sep 4, 2019 9:48am
These are my trades open for now.

USDJPY I was not hit my SL for very little
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  • #3,589
  • Sep 4, 2019 11:20am Sep 4, 2019 11:20am
I am finding the exits a lot more trouble to deal with than the entrances on this strategy. Banging my head against the wall a little with it to be honest. I wonder if any of the experienced traders using this strategy would be willing to post their set files for CaveManager, or any other trade management EA they may be using?

Failing that, some more advice about what stop loss/take profit levels have been shown to work well over time would be great.
  • #3,590
  • Sep 4, 2019 11:58am Sep 4, 2019 11:58am
Quoting itsDavid
I am finding the exits a lot more trouble to deal with than the entrances on this strategy. Banging my head against the wall a little with it to be honest. I wonder if any of the experienced traders using this strategy would be willing to post their set files for CaveManager, or any other trade management EA they may be using? Failing that, some more advice about what stop loss/take profit levels have been shown to work well over time would be great.
TP 2R for me at the moment boss, with trailing stop till it gets there. I have the same problem of when to get out, would be nice to ride the trend to the bottom.
  • #3,591
  • Sep 4, 2019 1:11pm Sep 4, 2019 1:11pm
Quoting RobinHood
{quote} Based on what I see, all of the JPY Monthly and Weekly charts are DOWN, so don't be fearful of shorting them when the opportunity arises. {image} I am NOT saying don't take any long signals. I am just saying don't be fearful of shorting if you get a signal.
This is exactly my point RH, All the JPY Pairs are down, which implying "buying" the JPY (through SELL trades).

However, the JLY Pairs gave a few BUY setupes in the previous Session and I was saying that I found it difficult to take them (as they are all counter-trend moves IMHO).

Having said that, I decided on the one that looked best to me (both Stochs and RSI catching up and crossing the 50 level all at the same time). I'm keeping risk @ 2 candles back and TP open, since I will be trailing the Stop Loss (2 candles back):-

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Trade well.

.
  • #3,592
  • Sep 4, 2019 1:56pm Sep 4, 2019 1:56pm
Quoting itsDavid
I am finding the exits a lot more trouble to deal with than the entrances on this strategy. Banging my head against the wall a little with it to be honest. I wonder if any of the experienced traders using this strategy would be willing to post their set files for CaveManager, or any other trade management EA they may be using? Failing that, some more advice about what stop loss/take profit levels have been shown to work well over time would be great.
Read Post # 112
Always a Student, Never a Master - Emulate What Works
  • #3,593
  • Sep 4, 2019 4:08pm Sep 4, 2019 4:08pm
Quoting emmanuel7788
{quote} after your sell got stopped out, there is a price reversal, why not take a buy setup? I was on H6 and took that setup where RSI(14) cross up and both the Stoch(8,3,3) and (14,3,3) were good within 3 bars/candles. {image}
because robinhood advise newbies to take only continuation trades and what you say its cross trade, and you said this advise too in a post
if I see win trades with continuation setups then I look in crossovers
tonight another lose (usdsgd) but also small because of trailng stoploss 2 bar lookback
usdsgd d1 continuation
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  • #3,594
  • Sep 4, 2019 4:58pm Sep 4, 2019 4:58pm
Quoting RobinHood
{quote} Read Post # 112
I did read that several times actually, but am confused about 3 units, does that imply that when you enter, you place 3 entry orders? because i just enter once, and if i'm to exit, thats it.
  • #3,595
  • Sep 4, 2019 4:59pm Sep 4, 2019 4:59pm
Quoting 40PipsAlan
{quote} TP 2R for me at the moment boss, with trailing stop till it gets there. I have the same problem of when to get out, would be nice to ride the trend to the bottom.
sorry for the dumb question, how do i calculate 1R and 2R? i see several posters constantly post this but not sure how to determine this value.
  • #3,596
  • Sep 4, 2019 5:10pm Sep 4, 2019 5:10pm
Quoting fc3s
{quote} sorry for the dumb question, how do i calculate 1R and 2R? i see several posters constantly post this but not sure how to determine this value.
R = whatever your risk is. So if you place your stop loss at a 50 pip loss, 1R=50 pips, 2R=100 pips, and so on.
  • #3,597
  • Sep 4, 2019 5:12pm Sep 4, 2019 5:12pm
Quoting fc3s
{quote} sorry for the dumb question, how do i calculate 1R and 2R? i see several posters constantly post this but not sure how to determine this value.
1R = Whatever Number Your Risk Is

2R = Profit is 2 x Your Risk

3R = Profit is 3 x Your Risk


So if you have a trade where the stop is 50 pips, that becomes 1R.

To get a 2R profit, you would need to make 2 x 1R or 100 pips.

To get a 3R profit, you would need to make 3 x 1R or 150 pips.
Always a Student, Never a Master - Emulate What Works
  • #3,598
  • Sep 4, 2019 5:18pm Sep 4, 2019 5:18pm
Quoting RobinHood
{quote} Read Post # 112
Thank RH. I did read that some time ago (and have just re-read to refresh my memory). I'm already doing something quite similar with CaveManager, using it's 3 profit point system, as well as it's capital protection. However I don't think I'm even close to having the exits optimized even taking into account the excellent advice in that post and the ones following it.
  • #3,599
  • Sep 4, 2019 5:27pm Sep 4, 2019 5:27pm
AU Long and UCad short on Daily TF. both crossover trades. valid right?
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  • #3,600
  • Sep 4, 2019 5:56pm Sep 4, 2019 5:56pm
Quoting PipTrek
AU Long and UCad short on Daily TF. both crossover trades. valid right? {image} {image}
Both are valid, however both Daily trades are going in the opposite direction of their respective Weekly and Monthly charts.

IDEALLY, it would be BEST if you took trades that are going in the same direction as the higher time frames.

It's ALWAYS easier to swim with the current rather than trying to swim against it.

It doesn't mean that either or both trades can't win, it's just food for thought.

You are always better off when you try to stack as many odds in your favor as you can.
Always a Student, Never a Master - Emulate What Works
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