I like this.... Easy, simple and effective
nice thread :-) Do you guys take the steepness of the ema into consideration ? Like in my case a value of 75 in order to avoid ranging markets ? Also - Minotawr - I like that indi that plots the lines ( entry, sl, etc.) on your charts... Is this a custom indicator ? Are you willing to share ? Best, Mark {image}
This is not an indicator, this is just the standard fibonacci tool from metatrader. You can modify it like you want.
- #110
- Edited 8:28am Apr 2, 2020 8:15am | Edited 8:28am
Yes, this is a trend following strategy. You will avoiding a range? Simple: if you see a range, don`t trade!
So many people want to be on the begining of a trend and they trying to force it. It`s just wrong. You will never know when a trend is just about to start.
Make it simple: if you see a trending pair, then stick to it. Don`t complicate.
My broker offer me 100 pairs or something
, one or two of them are definitely trending in this time. So you just need one or two to concentrate on.
I mean, look on the EUR/GBP chart. Is this so hard to spot the trend?
Just my two cents, don`t get offended
So many people want to be on the begining of a trend and they trying to force it. It`s just wrong. You will never know when a trend is just about to start.
Make it simple: if you see a trending pair, then stick to it. Don`t complicate.
My broker offer me 100 pairs or something
, one or two of them are definitely trending in this time. So you just need one or two to concentrate on.I mean, look on the EUR/GBP chart. Is this so hard to spot the trend?
Just my two cents, don`t get offended
- #113
- Apr 2, 2020 10:09am Apr 2, 2020 10:09am
- | Joined May 2009 | Status: lost in the void | 2,977 Posts
Yes, this is a trend following strategy. You will avoiding a range? Simple: if you see a range, don`t trade! So many people want to be on the begining of a trend and they trying to force it. It`s just wrong. You will never know when a trend is just about to start. Make it simple: if you see a trending pair, then stick to it. Don`t complicate. My broker offer me 100 pairs or something
If you say to keep focus more on price then on the EMA, and H1 needs even more practice here, what exactly do you mean by this? Like any specific price action / candle pattern that tends to work out best for this kind of retracement entries? Your example charts so far always seem to hit the perfect entry candle leaving out earlier possible entries where price was often not ready yet to drift back again to the trend direction.
- #115
- Apr 2, 2020 11:34am Apr 2, 2020 11:34am
- Joined Dec 2015 | Status: Trader | 8,751 Posts
Do your homework, follow the footprints of smart money
- #116
- Apr 2, 2020 12:07pm Apr 2, 2020 12:07pm
- | Joined May 2009 | Status: lost in the void | 2,977 Posts
- #119
- Apr 2, 2020 2:38pm Apr 2, 2020 2:38pm
- Joined Oct 2014 | Status: Cooking | 1,484 Posts
Sorry, been a bit quiet trading recently. But I have incorporated this into my own strategy and it works really well.
I'm using a new broker but they don't have mt4 support. However, I managed to get into these trades between last night and today. (im UK time).
Green dotted lines are my entries and RED dashed lines are my SL. I TP where I scribbled.. lol... when things started to seem a bit exhaused (to me). Had two entries and got around 190 pips risking 30 pips lol... crazy R:R.
Can see it was also close to the 100MA where I was looking for entries to sell.
I've been profitable for the past 3 years (out of 5 years), but adding this simple strategy into my trading has allowed me to understand things much much better.
As you can see though, I do use the heiken ashi average price parts to cut out the noise and for me but it gives me more confidence when I see one of these potential entries form.
Happy trading!
I'm using a new broker but they don't have mt4 support. However, I managed to get into these trades between last night and today. (im UK time).
Green dotted lines are my entries and RED dashed lines are my SL. I TP where I scribbled.. lol... when things started to seem a bit exhaused (to me). Had two entries and got around 190 pips risking 30 pips lol... crazy R:R.
Can see it was also close to the 100MA where I was looking for entries to sell.
I've been profitable for the past 3 years (out of 5 years), but adding this simple strategy into my trading has allowed me to understand things much much better.
As you can see though, I do use the heiken ashi average price parts to cut out the noise and for me but it gives me more confidence when I see one of these potential entries form.
Happy trading!
You can lead a horse to water, but you can't make it drink