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  • #3,941
  • Edited 11:41pm Jan 15, 2020 11:00pm | Edited 11:41pm
SGD-JPY is starting to roll over on the pressure to the upside.
I am waiting for the next small push up to attract breakout buyers - then I will enter a short on this pair.
Let's see how this pair plays out in the next 24 hours....

Monarch
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  • #3,942
  • Jan 15, 2020 11:46pm Jan 15, 2020 11:46pm
GBP-NZD looks to be ready for a move to the upper area marked on the chart as "target area."
I am looking for a pullback to the "buy zone" for a long entry.
It is not my trading style to trade breakouts in a market move but to wait for the pullback zones to enter trades.
If I miss a trade because it moves without me I will pick up the next setup on another pair.
Hopefully everyone has some of their own setups marked for trades using Masterrminds zones!
Have a great evening.

Monarch
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  • #3,943
  • Edited 4:33am Jan 16, 2020 4:15am | Edited 4:33am
AUD/NZD stopped out and re-entered SL 1 octive gap TP 1.5 octive gap

Edit: I'm thinking to close because i don't like how PA it's evolving (note: i'm trading this on a DEMO account)
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  • #3,944
  • Jan 16, 2020 5:40am Jan 16, 2020 5:40am
Quoting monarch
GBP-NZD looks to be ready for a move to the upper area marked on the chart as "target area." I am looking for a pullback to the "buy zone" for a long entry. It is not my trading style to trade breakouts in a market move but to wait for the pullback zones to enter trades. If I miss a trade because it moves without me I will pick up the next setup on another pair. Hopefully everyone has some of their own setups marked for trades using Masterrminds zones! Have a great evening. Monarch {image}
Great commentary Monarch.

GN can be an awesome money maker provided you tag the right direction.

Good trading,

Masterrmind........
Master your Mind then Master your Trades
  • #3,945
  • Jan 16, 2020 6:07am Jan 16, 2020 6:07am
Quoting MrGreen95
AUD/NZD stopped out and re-entered SL 1 octive gap TP 1.5 octive gap Edit: I'm thinking to close because i don't like how PA it's evolving (note: i'm trading this on a DEMO account) {image}
Yes good RR trade approach.

Make sure your reasoning for closing a trade is very very convincing ... in fact its a good idea to have some solid rules in place such as if PA of trade does A then do B else allow trade to run on.

If you are more of a discretionary type trader like me then you will show more interest in whats happening via the PA or other market events with experience being a major factor.

Above all patience is the difficult one to master.

My take is to do nothing on Entry 1 in terms of the initial settings for the SL.

Recall that Entry 1 should ideally have the lowest risk applied, a risk that the trader has assessed prior to entry as being justified and reasonable.

Therefore, Entry 1 no SL adjustment.

As price moves in your favor then SL adjustment can be performed but I don't recommend it until at least 2 Octive Gaps have been covered by price then move the stop to BE + 1 OG to lock in some profit then keep trailing by a minimum of 1 OG.

As price gets closer to the target consider more aggressive trailing until the market takes you out.

I will discuss trade management in detail later but certainly this is where an account can really flourish.

Major issue ofcourse is not knowing in advance exactly how PA is going to unfold.

I will tell you though that trailing at less than an OG will get a good trade knocked out far too soon.

Think about it like this ... initial risk is low and its risk Im ok with taking so why not try to give the trade as much breathing space as possible so it has the best chance of hitting the targets.

Ofcourse once price has moved the 2 OGs then by all means lock in 1 OG for peace of mind.

Improving in this area is tricky since each setup will always be abit if not a lot different from the previous one.

Another point Ill make is that as additional trades start hitting the market as orders are triggered I tend to be more aggressive on the trade management because of the relatively larger volumes being traded especially if a pullback against you occurs.

Good chart.

Masterrmind........
Master your Mind then Master your Trades
  • #3,946
  • Jan 16, 2020 10:47am Jan 16, 2020 10:47am
Quoting Masterrmind
{quote} Post 1 zip folder. Masterrmind........

You are very happy to meet you here. Through the indicators you said, I feel very upset that there is a deadline. Although there is a deadline, I am willing to try. How can I get the deadline! Need money! I'm promoting the display of this thread, happy New Year
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  • #3,947
  • Jan 16, 2020 11:00am Jan 16, 2020 11:00am
Whether this position should go down requires time to verify
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  • #3,948
  • Jan 16, 2020 11:04am Jan 16, 2020 11:04am
[quote = Masterrmind; 12706005] {quote}是好的RR交易方法。确保关闭交易的理由非常有说服力……实际上，有一些稳固的规则是一个好主意，例如，如果交易的PA执行A，然后执行B，则其他交易可以继续进行。如果您像我一样是全权委托类型的交易者，那么您将对通过PA或其他市场事件发生的事情表现出更多的兴趣，而经验是主要因素。首先，忍耐是一个很难掌握的人。我的看法是，就SL的初始设置而言，在条目1上什么都不做。回想一下，理想情况下，进入1应该具有最低的风险，即交易者在进入之前评估为合理合理的风险。因此，条目1没有SL调整。当价格上涨对您有利时，可以执行SL调整，但我不这样做 t推荐它，直到价格覆盖了至少2个八分之一缺口，然后将止损移动到BE + 1 OG以锁定一些利润，然后再继续追踪至少1 OG。随着价格接近目标，请考虑采取更积极的策略，直到市场将您淘汰。我将在后面详细讨论贸易管理，但是可以肯定的是，这确实可以使帐户蓬勃发展。课程的主要问题是无法事先确切知道PA的发展方式。我会告诉你，尽管追踪不到OG会很快就淘汰掉一笔好的交易。像这样考虑吧……初始风险低且承担风险可以接受，所以为什么不尝试给交易提供尽可能多的喘息空间，使它有最大的机会达到目标。当然，一旦价格移动了2个OG，则一定要锁定1个OG以使您安心。在这方面进行改进是很棘手的，因为每种设置都将与以前的设置相差无几。病态的另一点是，随着订单触发，更多的交易开始进入市场，由于交易量相对较大，特别是在出现对您的回撤时，我倾向于在交易管理上更加积极。好的图表。Masterrmind ........[/引用]


I really like this template! Can I mail my set for permanent use! happy New Year ! I will promote the development of this thread for the rest of my life

mailbox:[email protected]
  • #3,949
  • Jan 16, 2020 11:09am Jan 16, 2020 11:09am
If it's used in H4, I don't know how the results are expected to be tested with real heart
  • #3,950
  • Jan 16, 2020 12:19pm Jan 16, 2020 12:19pm
GBP-NZD Update: Long entered 1.9620 on the pullback to the buy zone. I have my target marked on the chart.

SGD-JPY Update: Short entered 81.77 on the move upwards to my sell zone. It has not moved much today so the trade is still in the formation stage. Target is 75 pips currently but will be adjusted with the next few daily candles.

Have a great day!

Monarch
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  • #3,951
  • Jan 16, 2020 12:26pm Jan 16, 2020 12:26pm
Quoting monarch
{quote} Great trade Jeff, looks like your doing good with Masterrmind's system. I have been away a few weeks and can't wait to do more studying and trading this strategy. Good luck on your trading. Monarch
Thank you Monarch...for the encouragement ...always love to learn new things

Cheers
Jeff
and Happy New Year!
Happily Married to MY College Sweet Heart!
  • #3,952
  • Jan 16, 2020 12:51pm Jan 16, 2020 12:51pm
Quoting Jeff59FX
{quote} Thank you Monarch...for the encouragement ...always love to learn new things Cheers Jeff and Happy New Year!

Happy New Years to you Jeff, keep up the constant learning that this thread is generous to share.
Remember, you do not have to trade just to trade, but pick your trade carefully and like Masterrmind says, have a plan for both loss and wins : )
  • #3,953
  • Jan 16, 2020 12:58pm Jan 16, 2020 12:58pm
GBP-CHF Long setup is forming on Masterrmind's lower Octive area.
I am watching todays candle to see if it turns blue with a close above yesterdays 'open price."

It is important to have a blue candle over shadow the red candle from yesterday to let us know buyers are possibly back in the market on this pair.
If the candle closes blue today with a nice solid body we can expect the market to pullback into that blue candle for our entry.
Do not rush into any trade, it is a daily candle and that allows us time to review all the possible scenarios and trade setups prior to it occurring.

I hope this helps explain the thoughts behind my entry points that are relative to the strategy shared by Masterrmind….

Monarch
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  • #3,954
  • Jan 16, 2020 3:33pm Jan 16, 2020 3:33pm
Quoting fx5966
[quote = Masterrmind; 12706005] {quote}是好的RR交易方法。确保关闭交易的理由非常有说服力……实际上，有一些稳固的规则是一个好主意，例如，如果交易的PA执行A，然后执行B，则其他交易可以继续进行。如果您像我一样是全权委托类型的交易者，那么您将对通过PA或其他市场事件发生的事情表现出更多的兴趣，而经验是主要因素。首先，忍耐是一个很难掌握的人。我的看法是，就SL的初始设置而言，在条目1上什么都不做。回想一下，理想情况下，进入1应该具有最低的风险，即交易者在进入之前评估为合理合理的风险。因此，条目1没有SL调整。当价格上涨对您有利时，可以执行SL调整，但我不这样做...
Please do not post personal information.

Best is to use Private Message via my profile.

Expiry dates are there for several reasons ... keep traders participating in the thread and posting charts using the indicators and templates, allow for updates, reduce frequency of traders downloading indicators and tools never to be seen again.

At expiry end I will review posts to this thread and if satisfactory provide the tools again...ongoing.

Masterrmind.........
Master your Mind then Master your Trades
  • #3,955
  • Jan 16, 2020 3:44pm Jan 16, 2020 3:44pm
Quoting fx5966
{quote} You are very happy to meet you here. Through the indicators you said, I feel very upset that there is a deadline. Although there is a deadline, I am willing to try. How can I get the deadline! Need money! I'm promoting the display of this thread, happy New Year {image}
D1 time frame only.

I have locked indicator to the D1 TF only.

Do not use on a different TF else indicator will stop working.

If this happens open indicator again using D1 only and leave chart on D1.

ps. this basic version indicator is nothing special but it does help to filter and allow manual setups.

pps. advanced versions are a different matter and the Expert Advisors will be able to be left on a VPS trading alone.

Masterrmind.........
Master your Mind then Master your Trades
  • #3,956
  • Edited 4:43pm Jan 16, 2020 4:31pm | Edited 4:43pm
CAD-JPY Setup forming.
Price is moving to the upper Octive which is near a recent resistance area.
I will monitor this pair for the next 24 hours and watch price as it moves towards this possible stall area.
My goal for a short entry is around 30 more pips to the upside.
The key is to let price come to us at our desired entry point.
I would prefer a smaller drawdown in most cases and the closer we can get to a historical support/resistance for entry the better...

Edited:

My personal trade strategy is to monitor Masterrmind's Octive areas for extremes on 30 pairs.
I will not be taking any trades if they are not at an "extreme of the Octive ranges."
A key component to trading is to have the smallest drawdown on a trade, and if your trading the daily candle you will have drawdowns.
Masterrmind has giving key levels on his strategy/indicator to target when we enter those trades, we should never give more to the market than what we expect to gain.
If you are looking to reach 75 pips then you should not give more than 75 pips in a loss, that is and has been my long term rule in any trade I have taken.

Monarch
Attached Image (click to enlarge)
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  • #3,957
  • Jan 16, 2020 4:59pm Jan 16, 2020 4:59pm
Quoting monarch
CAD-JPY Setup forming. Price is moving to the upper Octive which is near a recent resistance area. I will monitor this pair for the next 24 hours and watch price as it moves towards this possible stall area. My goal for a short entry is around 30 more pips to the upside. The key is to let price come to us at our desired entry point. I would prefer a smaller drawdown in most cases and the closer we can get to a historical support/resistance for entry the better... Edited: My personal trade strategy is to monitor Masterrmind's Octive areas for extremes...
Very good commentary and a great chart showing longer term resistance levels.

Nice work.

Masterrmind........
Master your Mind then Master your Trades
  • #3,958
  • Jan 17, 2020 1:05am Jan 17, 2020 1:05am
Hello all. Thanks to Mastermind Strategy Template, I was able to enter a buy trade on GBPCHF 0.01 Lot. At the moment, profit on trade is $4+ and counting, meaning that if I had used 1.0 lot I would have made $400. Other indicator on the chart supporting this move is as seen on the chart: Price respecting 61% Fib retracement level on D1.
At the moment, the RR ratio is left at 1:1. I plan to ride risk free once the OPL 1 level is reached on the chart, by which time the SL will move to OPL 0
By the way, this ain't demo account...
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  • #3,959
  • Jan 17, 2020 2:09am Jan 17, 2020 2:09am
Quoting Shegzz
Hello all. Thanks to Mastermind Strategy Template, I was able to enter a buy trade on GBPCHF 0.01 Lot. At the moment, profit on trade is $4+ and counting, meaning that if I had used 1.0 lot I would have made $400. Other indicator on the chart supporting this move is as seen on the chart: Price respecting 61% Fib retracement level on D1. At the moment, the RR ratio is left at 1:1. I plan to ride risk free once the OPL 1 level is reached on the chart, by which time the SL will move to OPL 0 By the way, this ain't...
Nice work.

Just be sure that you adhere to the risk and lot ratios.

Its always easy to see how higher lotsize would have produced higher return however, you need to ask yourself at what risk?

This is longer term trading with initial entry at low risk but don't worry there will be plenty of opportunities under the right conditions to significantly add to the return per cycle using additional entries.

Masterrmind.........
Master your Mind then Master your Trades
  • #3,960
  • Jan 17, 2020 6:41am Jan 17, 2020 6:41am
Usually I don't get too involved with new entries or new cycles of trades on the last trading day of the week.

At this stage it looks like it will be early next week before I get a chance to get into additional cycles.

Both accounts went through some minor DD as price initially went favorable only to quickly roll over and test recent lows before rebounding slightly and heading back in my favor with one pair putting in a Quad Short signal which meant closer monitoring, bears finally gave up with the bulls taking charge but lets see how it unfolds.

Nevertheless, both cycles are producing ongoing positive swap and are currently not close to being stopped out so all is good in Quad Land.

If second cycles get added it will be when current cycle is positive although I may make exceptions by trading at lower applied risk, unlikely on the 1K account but certainly on the 10K account I have more options, I will post likely setups as they occur.

Masterrmind.........
Master your Mind then Master your Trades
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