A very simple system - trade with arrow | Page 347 | Forex Factory

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A very simple system - trade with arrow

  • #6,921
  • Mar 17, 2020 7:53am Mar 17, 2020 7:53am
Quoting pips29
made some from this trade,,,my focus is on indices atm with trades that need monitoring on another platform, so I take my leave now {image}
Hey Pips29. Pleased to see you are still nailing it. Out of interest do you trade indices with a similar method?

Yeah I am still short GBP/USD I have that area marked on my charts as a possible TP. Trading smaller amounts at the moment but the extra ADR's more than make up for it.

Stay safe.
  • #6,922
  • Mar 17, 2020 8:13am Mar 17, 2020 8:13am
Quoting Pent56
{quote} Hey Pips29. Pleased to see you are still nailing it. Out of interest do you trade indices with a similar method? Yeah I am still short GBP/USD I have that area marked on my charts as a possible TP. Trading smaller amounts at the moment but the extra ADR's more than make up for it. Stay safe.
yes, be sensible and reduce the size as you get 50 pips move on a M1 candle..adr is pretty insane now..I use both M5 and M1 for trading indices..I just don't see how you can use the hourly and above to trade indices,,anyway I use the TMA as well only on M1
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the cautious seldom err....C
  • #6,923
  • Mar 17, 2020 11:30am Mar 17, 2020 11:30am
the low of 2015 being threatened..if it goes the the aussie will not even be on par with the kiwi as I reckon it will drop further
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the cautious seldom err....C
  • #6,924
  • Mar 17, 2020 11:32am Mar 17, 2020 11:32am
no hurry to go short this pair..just wait till pa shows price turns
Attached Image (click to enlarge)
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the cautious seldom err....C
  • #6,925
  • Mar 17, 2020 11:36am Mar 17, 2020 11:36am
I'm still in this trade with only one entry...target is the gap..a good day for those who went long the indices
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the cautious seldom err....C
  • #6,926
  • Mar 17, 2020 11:52am Mar 17, 2020 11:52am
hindsight is cheap but if you follow the 10/34 ema on H4 you would have made bumper pips trading with the trend..this is just one example of many..need I say more
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the cautious seldom err....C
  • #6,927
  • Mar 17, 2020 11:56am Mar 17, 2020 11:56am
got no words for this pair, just incredible but clearly the way to trade with the 10/34 ema and cci..if only I have more patience it's probably better to trade H4
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the cautious seldom err....C
  • #6,928
  • Mar 17, 2020 12:00pm Mar 17, 2020 12:00pm
can you see why going long is disastrous when you see a chart like this..trend has changed by looking at the ema and cci...not asking you to think just see
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the cautious seldom err....C
  • #6,929
  • Mar 17, 2020 12:09pm Mar 17, 2020 12:09pm
Quoting pips29
getting closer to my target as I move my stop higher {image}
will stop posting now and less posts from tomorrow onwards
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the cautious seldom err....C
  • #6,930
  • Mar 17, 2020 2:20pm Mar 17, 2020 2:20pm
I have locked in at b/e+60 but my target was missed by 7 pips earlier...it's not about the pips now but what I believe the big boys will do...let's see
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the cautious seldom err....C
  • #6,931
  • Mar 18, 2020 3:50am Mar 18, 2020 3:50am
was stopped out on my usdyen trade taken yesterday..took a fresh one mins ago aiming for the same target...will be going out later to buy some some stuffs mainly food items...don't think I can get the things that are in vogue like toilet rolls, sanitisers and the like
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the cautious seldom err....C
  • #6,932
  • Edited 4:29am Mar 18, 2020 3:55am | Edited 4:29am
that was quick..taken 1/2 and moved to b/e...stress free EDit: stopped out
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the cautious seldom err....C
  • #6,933
  • Mar 18, 2020 4:23am Mar 18, 2020 4:23am
I notice someone is using ema to filter out "bad" trades but the approach is completely wrong..one sure way of blowing the account..just adding fuel to fire...would already in deep shit if eurgbp and euraud shorts are taken..the loonie which was taken is already giving him lashes with the whip...totally avoidable..
the cautious seldom err....C
  • #6,934
  • Mar 18, 2020 4:46am Mar 18, 2020 4:46am
wow,wow,wow..the low of Oct 2008 is already broken...
Attached Image (click to enlarge)
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the cautious seldom err....C
  • #6,935
  • Edited 6:08am Mar 18, 2020 5:47am | Edited 6:08am
Quoting pips29
I notice someone is using ema to filter out "bad" trades but the approach is completely wrong..one sure way of blowing the account..just adding fuel to fire...would already in deep shit if eurgbp and euraud shorts are taken..the loonie which was taken is already giving him lashes with the whip...totally avoidable..
Quoting pips29
wow,wow,wow..the low of Oct 2008 is already broken... {image}
Now is the time to be zooming out the charts and looking at price extremes. The probability of these prices being hit/broken are much higher than the price reversing at this point.

That is unless scientists miraculously find a vaccine that can be mass produced and out in the market in a matter of weeks. We all know what the chances of that happening are (Even if a vaccine was found to be successful it would still be 12 months until fully tested).

There is no point fighting the market at the moment. People can make money by going with the flow and taking quick profits (which can be substantial as discussed because of the high ADR's). Money management is even more important than usual.

I know you don't really use trendlines in your trading but there is simple money to be made by simply trading the breaks of these lines. Just take a look at the M5 GBP/USD in the London session this morning. When the line breaks take the trade. Simple line trading. These trades are all over the place at the moment. Of course one still needs to be aware of areas of support/resistance etc.
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I'm not suggesting that you or anyone trades this but I'm just highlighting that strategies have to adapt to what the market is doing.

Hope you managed to get some supplies Pips29. I have 3 children and stocked up a bit yesterday (nothing too excessive just enough to see us through if we have to self isolate for a couple of weeks).
  • #6,936
  • Mar 18, 2020 6:43am Mar 18, 2020 6:43am
Quoting Pent56
{quote} {quote} Now is the time to be zooming out the charts and looking at price extremes. The probability of these prices being hit/broken are much higher than the price reversing at this point. That is unless scientists miraculously find a vaccine that can be mass produced and out in the market in a matter of weeks. We all know what the chances of that happening are (Even if a vaccine was found to be successful it would still be 12 months until fully tested). There is no point fighting the market at the moment. People can make money by going...
very well said..I just got back home and when I switch on my platform I see that I'm right about cable. I was looking to go short cable and the dragon but had to go out ..what a big miss for me..hope you got more than you ask from cable..as to my shopping ,when I got there all the items in vogue were gone and all the poultry were gone..I manage to grab some coconut juice and the last 4 bottles of water..my wife says I'm fussy for I only drink bottled water and not water from the taps, I also use only filtered water to boil water for a cup of coffee..will have to start looking for trades EDit: the 10/34 ema can easily capture those TL breaks with the cci as confirmation..that's why I don't need these tl..I use TL mainly on htf
the cautious seldom err....C
  • #6,937
  • Mar 18, 2020 8:03am Mar 18, 2020 8:03am
my second attempt on this pair today...let's see if I get my target
Attached Image (click to enlarge)
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the cautious seldom err....C
  • #6,938
  • Mar 18, 2020 9:02am Mar 18, 2020 9:02am
did not get the thrill of seeing my target get hit as I was slowly taking my lunch,,,anyway, got what I wanted from this trade, quite an "obvious" trade,simple and uncomplicated,that's the way I like it
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYM15.png Size: 61 KB
the cautious seldom err....C
  • #6,939
  • Mar 18, 2020 11:53am Mar 18, 2020 11:53am
Quoting pips29
no hurry to go short this pair..just wait till pa shows price turns {image}
told you ! broken EDit: I am sure traders who like picking tops/bottoms got themselves burnt..who to blame? Trading method or yourself?
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBPWeekly.png Size: 63 KB
the cautious seldom err....C
  • #6,940
  • Mar 19, 2020 6:31am Mar 19, 2020 6:31am
took a long last night and before going to bed I locked in at b/e+30 ..target was hit while I slept..
Attached Image (click to enlarge)
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the cautious seldom err....C
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