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  • #4,021
  • Sep 25, 2019 1:33pm Sep 25, 2019 1:33pm
Quoting itsDavid
{quote} I did take the GBPJPY one even though the D1 RSI was still above the 50 line. 8/9 of the signals are indicating a stronger than average sell, the pair is a sell on most timeframes (it's a weak buy on the weekly, but sell everywhere else), and finally the remaining indi (D1 RSI) is consistently on its way down. So I didn't mind bending the rules slightly on this one. {image}
Well done!.

Very good application.

Cheers.
  • #4,022
  • Sep 25, 2019 2:00pm Sep 25, 2019 2:00pm
Nuances - TMSr.

RH has shared an excellent Trading Methodology.

He has also commented in here that there are nuances to his trading that are not shared (ways in which he uses the Indicators for example).
It's quite nice to see different ones taking the Method and maturing in their use of the tools and making a success of it.
With correct application and good money management, we should all do well in the "bad patches".

Love it!.

Trade well.
  • #4,023
  • Sep 25, 2019 2:06pm Sep 25, 2019 2:06pm
Quoting Marcusv007
{quote} Sure, I will assume you have the default Template in place from Post1, I've added the extras I use. There are 3 templates I use this is number 2 in pic. #1 is my default when I open a chart, #3 I use to see Breakout i.e. H,L Support & Resistance levels. Hope it helps, If I've missed anything just let me know. {file}
Thank you very much Mate'.
  • #4,024
  • Edited 4:13pm Sep 25, 2019 3:38pm | Edited 4:13pm
Quoting krismitt
Nuances - TMSr. RH has shared an excellent Trading Methodology. He has also commented in here that there are nuances to his trading that are not shared (ways in which he uses the Indicators for example). It's quite nice to see different ones taking the Method and maturing in their use of the tools and making a success of it. With correct application and good money management, we should all do well in the "bad patches". Love it!. Trade well.
Two things I want to address....

1. I said in Post # 1: "My hope is that other traders will recognize the power of these templates and contribute even more ways to trade them, hopefully in ways even more effective than I have presented, and that they help traders make a lot more money trading the Forex." Fortunately, that has happened, and I want that to always continue to happen.

2. Concerning "nuances". I have NO "GREAT" SECRETS that I have not shared (that I know of). It's just that after 30+ years of trading, I CAN'T share everything that I know about trading. It would be impossible. Early on in this thread I thought that adding more and more trading information hoping that it would be beneficial to others, but to me, beyond a certain point, the less nuances I share, the better it is because then it doesn't add any confusion or contradictions to what I presented in the beginning posts of this thread.

Let me give you an example...

I don't like having any short positions in the U. S. futures markets (the Nasdaq 100, S&P 500 Futures, or the Russell 2,000, etc.) on U. S. holidays (and certain days near them, such as: Dec. 24, Dec. 31, the Friday after Thanksgiving, etc.) where the market is open. WHY? Because "wanna-be full-time traders" are off work and the majority of the time those markets go up on those days BECAUSE ALL THEY KNOW IS HOW TO BUY. They don't usually understand selling short. They can't seem to comprehend how to sell something that they don't own.

Now I have tons of trading "nuances" like that, but should I share them all? No, I don't think so because just as I said, it would only cause confusion BECAUSE these things are just my own personal trading beliefs. AND, then on those types of days I just mentioned, if the financial markets happen to go down, someone gives it to me on the chin because I was told them something that ended up being wrong.
Always a Student, Never a Master - Emulate What Works
  • #4,025
  • Sep 25, 2019 4:34pm Sep 25, 2019 4:34pm
Quoting Reitilicios
{quote} I don't see a continuation trade on your pictures. As fas as I know, you have to wait for the HMA line to change back to green, before you enter the trade.
my god youreright!!!!!!!!!!!!!!!!!
thats what mistake I did
I went back and read robinhod rules for continuation again and its like you say
thank you a lot
that why almost all trades I taken are loses and no one opened my eyes about my mistake until now
here is trades I taken just now d1 continuation
audusd
Attached Image (click to enlarge)
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audsgd
Attached Image (click to enlarge)
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nzdusd
Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSDDaily.png Size: 35 KB

this trades dont have previos color change for hma and I need to ask robinhood if its valid entries, or if for sells we need hma to be red after it was green?
in my trades hma is all red but red bars are follow by blue and then again red
  • #4,026
  • Sep 25, 2019 4:35pm Sep 25, 2019 4:35pm
Quoting monty20
{quote} where exactly did you buy in at on these two? Maybe im missing something but Im not seeing any continuation trades here
I buy right before I post the screen shots
but now I know it was not good continuation trades
  • #4,027
  • Sep 25, 2019 4:47pm Sep 25, 2019 4:47pm
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 32 KB

Just curious what you guys think on this one as a buy. is it still too early since the rsi isn't completely above the 50 mark? its AUDNZD
  • #4,028
  • Sep 25, 2019 4:53pm Sep 25, 2019 4:53pm
Quoting forexdg
{quote} my god youreright!!!!!!!!!!!!!!!!! thats what mistake I did I went back and read robinhod rules for continuation again and its like you say thank you a lot that why almost all trades I taken are loses and no one opened my eyes about my mistake until now here is trades I taken just now d1 continuation audusd {image} audsgd {image} nzdusd {image} this trades dont have previos color change for hma and I need to ask robinhood if its valid entries, or if for sells we need hma to be red after it was green? in my trades hma is all red but red bars...
Those are not valid continuation trades as far as I know. The hma needs to be red and then green and then red again before its considered a continuation sell trade. I don't think its a continuation trade just because one bar changes to blue and then the next is red but maybe someone with a little more experience can confirm this
  • #4,029
  • Edited 6:05pm Sep 25, 2019 5:51pm | Edited 6:05pm
Quoting monty20
{image} Just curious what you guys think on this one as a buy. is it still too early since the rsi isn't completely above the 50 mark? its AUDNZD
Yeah, the 4H RSI needs to be above the 50 line for it to be a valid trade. The fact that it's dipping down a little now is also potentially problematic. Just wait, another trade will be along shortly.

ADDED: If it's the close of bar two of the move that you are talking about, then it 'might' be OK there since it looks slightly above the line to my eyes. But it's hard to tell exactly where the RSI was at the start of bar three. RH and others can probably confirm better than I can.
  • #4,030
  • Edited 6:25pm Sep 25, 2019 6:02pm | Edited 6:25pm
Quoting forexdg
{quote} my god youreright!!!!!!!!!!!!!!!!! thats what mistake I did I went back and read robinhod rules for continuation again and its like you say thank you a lot that why almost all trades I taken are loses and no one opened my eyes about my mistake until now here is trades I taken just now d1 continuation audusd {image} audsgd {image} nzdusd {image} this trades dont have previos color change for hma and I need to ask robinhood if its valid entries, or if for sells we need hma to be red after it was green? in my trades hma is all red but red bars...
I'm not seeing the colour change in the HMA 12 that you need for continuation entries in those charts.

For example I have uploaded a screenshot for you. As you can see the move is going up, the HMA 12 is green, then it changes to red for a couple of candles, with those candles also being red, then the indicators all start signalling a buy again, with (crucially) the HMA 12 returning to green. Without that colour change it's not a valid continuation trade as far as I understand the system. As long as everything else is set up as the method requires, it's that colour change the signals the 'continuation' of the move that we are looking for.
Attached Image (click to enlarge)
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  • #4,031
  • Edited 7:28pm Sep 25, 2019 6:26pm | Edited 7:28pm
By the way, if any of the more experienced members feel I have made any errors in my explanations please feel free to step in and correct me. I wouldn't want to spread incorrect information, and I would learn something myself. I've only been at this for about 8 weeks so far so I am bound to make mistakes along the way!
  • #4,032
  • Sep 25, 2019 9:03pm Sep 25, 2019 9:03pm
Quoting RobinHood
{quote} On the chart below, in the lower window, I placed the 4 hr. RSI in red, the Daily RSI in white, and the Weekly RSI in blue. The green vertical lines show each trade that you would have missed by only taking trades when all 3 RSI lines are above/below the 50. {image} I rest my case...lol.
Hi RH.
Can you give me the teamplate with nested RSi indicators?
thanks you.
  • #4,033
  • Edited 1:46am Sep 26, 2019 1:35am | Edited 1:46am
Quoting itsDavid
By the way, if any of the more experienced members feel I have made any errors in my explanations please feel free to step in and correct me. I wouldn't want to spread incorrect information, and I would learn something myself. I've only been at this for about 8 weeks so far so I am bound to make mistakes along the way!
I use continuation trade like you: first HMA color change and then enter on candle after HMA color change back.

But RH doesn't mention HMA for continuation trades on first page:
-----------------------------------------------------------------------------
Continuation Trades:

A Continuation Trade is when there has already been a trade in that direction, but you were stopped out OR got out for some other reason and then you get another signal to enter in the same direction.

You can go long again if a bar turns back to Dodger Blue/Blue after being Red/Maroon or Red/Blue AND the Dodger Blue/Blue bar's close is above the Yellow Line and all other indicators agree.

You can go short again if a bar turns back to Red/Maroon after being Dodger Blue/Blue or Red/Blue AND the Red/Maroon bar's close is below the Yellow Line and all other indicators agree.
---------------------------------------------------------------------------

There are also two examples on first page without HMA color change. There are also examples with color change but entry on candle before HMA color change back. But most of the examples on first page are with color change and entry after color change back.

Maybe RH can clarify more about this?

For me I think the most important is that you can see change in momentum: With that I mean that you need at least see that the HMA pulling back/getting flat a little before it continues.
  • #4,034
  • Sep 26, 2019 4:27am Sep 26, 2019 4:27am
Quoting kirinda
{quote} You can go short again if a bar turns back to Red/Maroon after being Dodger Blue/Blue or Red/Blue AND the Red/Maroon bar's close is below the Yellow Line and all other indicators agree.
Isn't the HMA 12 being the correct colour one of the other indicators? Therefore doesn't it have to change back to the correct colour for the direction you are entering according to this statement? Perhaps I have misunderstood and RH can clarify. That's how I read this personally in any case.
  • #4,035
  • Sep 26, 2019 4:41am Sep 26, 2019 4:41am
GBPUSD.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH4.png Size: 49 KB

Trade well.
  • #4,036
  • Sep 26, 2019 5:07am Sep 26, 2019 5:07am
Did you take EURAUD or EURJPY krismitt?
  • #4,037
  • Sep 26, 2019 5:11am Sep 26, 2019 5:11am
Re-entered the EURJPY continuation due to the stochs turning down again, and turning red, as well as the RSI still looking good for a bearish move.
Attached Image (click to enlarge)
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  • #4,038
  • Sep 26, 2019 5:13am Sep 26, 2019 5:13am
Also took a fairly standard crossover on the EURAUD, ignored the fact that the weekly RSI was slightly above the 50 line since everything else looks great, and the weekly RSI is not a rule of the system, just something I like to add to help me make better decisions.
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD.jpg Size: 953 KB
  • #4,039
  • Sep 26, 2019 5:18am Sep 26, 2019 5:18am
Quoting krismitt
GBPUSD. {image} Trade well.
I;m currently shorting
GBPJPY - Target level 131.80
GBPCAD Target Level 1.6226

LOL GBPCHF winked at me but no thanks, never ever again

I understand why RH has/ or had GBPJPY marked as a favorite pair to trade. If it werent for XAUUSD it would be mine too!
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 141 KB
The more you learn, the more you see
  • #4,040
  • Sep 26, 2019 5:20am Sep 26, 2019 5:20am
Quoting Marcusv007
{quote} GBPCHF winked at me but no thanks, never ever again
I don't even have any swissy pairs in my market watch
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