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Trading Made Simple(r)

  • #4,701
  • Edited 1:55pm Apr 14, 2020 1:30pm | Edited 1:55pm
Quoting hungnd
{quote} Have you tried to close and reopen MT5 ?
Yes. I figured it out, thanks for the help!
Always a Student, Never a Master - Emulate What Works
  • #4,702
  • Apr 14, 2020 2:51pm Apr 14, 2020 2:51pm
Quote
RobinHood

Hello RobinHood.

First of all I want to say a Big Thank to you.

I have never seen so many green pips staying on my account for so long before.

These are my current trades running, not all the entries match 100% to the rules.

I am on the page 96 of the thread now. Lots of reading left, tons of info.

But there is something I am struggling with right now.

1. I'm trying to do 1:2 RR
The problem is that my current trades are stuck somewhere in between and my floating profit goes up and down but does not increase.
Meanwhile I still get new entry signals. It really draws so much energy from me. (I remember that you advised to the new traders to go for 1:1 RR but the question is still there for me)

How to manage such a situation? How to not get overstocked on trades?
for me it looks like waiting for 1:2 or even 1:1 RR can make you either wait until you close your current trades or to entry for some new ones.

2. Could you please explain maybe one more time what exactly the SIGNAL, SET UP and ENTRY candles mean?
English isn't my first language and trying to understand it I got pretty lost I must say.

Thanks in advance!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 111.jpg Size: 1.2 MB
Click to Enlarge Name: 222.jpg Size: 1.4 MB
Go big or go home
  • #4,703
  • Edited Apr 15, 2020 4:03pm Apr 14, 2020 4:33pm | Edited Apr 15, 2020 4:03pm
Quoting Deminsib
{quote} Hello RobinHood. First of all I want to say a Big Thank to you. I have never seen so many green pips staying on my account for so long before. These are my current trades running, not all the entries match 100% to the rules. I am on the page 96 of the thread now. Lots of reading left, tons of info. But there is something I am struggling with right now. 1. I'm trying to do 1:2 RR The problem is that my current trades are stuck somewhere in between and my floating profit goes up and down but does not increase. Meanwhile I still get new entry...
Try trading 1:1.5. Trade only a few pairs. I prefer trading no more than 4 pairs at any one time.

The Set Up bar/candle is simply the bar/candle that gives you the signal to enter a trade. You MUST allow this bar to close to be positive that it's giving a real signal to enter.

The Entry bar/candle is simply the next bar after the Set Up bar/candle and you normally would enter on the Open of that bar. I mainly trade Daily charts right now. So due to the wide spreads at the Open of the Daily bars, I usually wait until one hour after the Open to enter a trade. For me, 5:00 PM EST is the time my new Daily bar opens, I try to Enter or Exit trades just before the close of the Daily bar at 4:55 PM EST. Or sometimes I Enter or Exit trades just past 6:00 PM EST if I miss the trade at 4:55 PM
Always a Student, Never a Master - Emulate What Works
  • #4,704
  • Apr 14, 2020 4:59pm Apr 14, 2020 4:59pm
Quoting RobinHood
{quote} Try trading 1:1.5. Trade only a few pairs. I prefer trading no more than 4 pairs at any one time. The Set Up bar/candle is simply the bar/candle that gives you the signal to enter a trade. You MUST allow this bar to close to be positive that it's giving a real signal to enter. The Entry bar/candle is simply the next bar after the Set Up bar/candle and you normally would enter on the Open of that bar. I mainly trade Daily charts right now. So due to the wide spreads at the Open of the Daily bars, I usually wait until one hour after the Open...

Which pairs are your favorite to trade?
  • #4,705
  • Apr 14, 2020 5:12pm Apr 14, 2020 5:12pm
Quoting Vpa021
{quote} Which pairs are your favorite to trade?
It changes over time due to pairs trending or not, and how volatile they are, right now I like:

EUR/AUD,
GBP/JPY,
NZD/USD
USD/SGD
USD/MXN

I really like anything that MOVES in a mostly orderly fashion. Sometimes you can find that on a 15 minute chart and sometimes it will be on a Weekly chart.

I like trading Daily charts but the trading the Weekly charts is usually more profitable.
Always a Student, Never a Master - Emulate What Works
  • #4,706
  • Apr 14, 2020 6:57pm Apr 14, 2020 6:57pm
Quoting Deminsib
{quote} Hello RobinHood. First of all I want to say a Big Thank to you. I have never seen so many green pips staying on my account for so long before. These are my current trades running, not all the entries match 100% to the rules. I am on the page 96 of the thread now. Lots of reading left, tons of info. But there is something I am struggling with right now. 1. I'm trying to do 1:2 RR The problem is that my current trades are stuck somewhere in between and my floating profit goes up and down but does not increase. Meanwhile I still get new entry...
Can you please upload the pip counter indicator that you are using? TIA
  • #4,707
  • Apr 14, 2020 8:05pm Apr 14, 2020 8:05pm
Quoting Vpa021
{quote} Can you please upload the pip counter indicator that you are using? TIA
Sure, here it is.

They have been downloaded from this thread, not sure what kind of difference between the two versions.
Attached File(s)
File Type: ex4 pipsometer_5_decimal.ex4   14 KB | 269 downloads
File Type: mq4 pipsometer_5_decimal.mq4   5 KB | 274 downloads
File Type: ex4 pipsometer_decimal_edit_2.ex4   13 KB | 222 downloads
File Type: mq4 pipsometer_decimal_edit_2.mq4   4 KB | 268 downloads
Go big or go home
  • #4,708
  • Apr 15, 2020 3:03am Apr 15, 2020 3:03am
Gud morning RH... I just started following your thread two days back, and I must say av learnt so mush so far, thanks for sharing your experience.
At the moment am trying to discipline my self on trading one single time frame, pls will u advice I stick to the daily or H4 or I should just mix the two and trade the signals as the come... Just an advice pls... Thanks
  • #4,709
  • Edited 7:15am Apr 15, 2020 7:00am | Edited 7:15am
Quoting rider1
Gud morning RH... I just started following your thread two days back, and I must say av learnt so mush so far, thanks for sharing your experience. At the moment am trying to discipline my self on trading one single time frame, pls will u advice I stick to the daily or H4 or I should just mix the two and trade the signals as the come... Just an advice pls... Thanks
I used to mostly only trade the 4 hr. charts, but I refused to wake up and look at the charts every 4 hours because I always had a hard time going back to sleep.

Often a trade would be way up or way down and my mind couldn't stop thinking about what had happened so I couldn't sleep.

So now I only trade the Daily charts to eliminate that problem.

I have to admit though that I have developed a somewhat bad problem. I sometimes will exit a Daily trade (depending on what I see) when I get a signal in the opposite direction on the 4 hr. chart. It's a double edged sword that will cut you both ways and I don't recommend starting the habit...but keep in mind, I also have 35 years of trading experience.
Always a Student, Never a Master - Emulate What Works
  • #4,710
  • Apr 15, 2020 7:20am Apr 15, 2020 7:20am
Quoting Deminsib
{quote} Sure, here it is. They have been downloaded from this thread, not sure what kind of difference between the two versions. {file} {file} {file} {file}

Thank you
  • #4,711
  • Apr 15, 2020 7:24am Apr 15, 2020 7:24am
Quoting RobinHood
{quote} I used to mostly only trade the 4 hr. charts, but I refused to wake up and look at the charts every 4 hours because I always had a hard time going back to sleep. Often a trade would be way up or way down and my mind couldn't stop thinking about what had happened so I couldn't sleep. So now I only trade the Daily charts to eliminate that problem. I have to admit though that I have developed a somewhat bad problem. I sometimes will exit a Daily trade (depending on what I see) when I get a signal in the opposite direction on the 4 hr. chart....
Thanks for your reply...
Based on wat I have read, I think I will only trade continuation trades on the H4 that aligns with the daily trend... But will be open to trade both crossover and continuations on the daily time frame... Hope to build my confidence with this. Thanks once more
  • #4,712
  • Apr 15, 2020 8:29am Apr 15, 2020 8:29am
Quoting RobinHood
{quote} They are the same indicators per se, it's just that another member here (SwingMan) combined the numerous indicators I showed in Post #1 into something that is visually much easier to trade. Plus, I have added a MACD line that I have never shown before (until now) because it's a discovery that I made and started using after I last posted here. BTW, this is how much things can change since I last posted here 21 mins ago. {image}
Hi, Robinhood, how can I add, the yellow MACD line to my bottom window? I haven't been able to do it.
TIA
Carmen.
  • #4,713
  • Apr 15, 2020 8:42am Apr 15, 2020 8:42am
Quoting carmelina
{quote} Hi, Robinhood, how can I add, the yellow MACD line to my bottom window? I haven't been able to do it. TIA Carmen.
Open the Navigator, locate the MACD, click on it and hold down the left mouse button, then drag it over to the lower window and let up on the mouse button.

Then you will have to change the settings to match mine. I posted an image of them in post 4661, page 234.
Always a Student, Never a Master - Emulate What Works
  • #4,714
  • Apr 15, 2020 9:25am Apr 15, 2020 9:25am
Quoting SwingMan
New Version "smTMMS-RobinHood DB_v2.2" You can now adjust the colors for the arrows and for highlighting the fields with convergent signals. {image} {file} {image}
Do you have an MT5 version of this indicator and smTMMS oscillator? thanks
  • #4,715
  • Apr 15, 2020 9:29am Apr 15, 2020 9:29am
Quoting nanacarter
{quote} Do you have an MT5 version of this indicator and smTMMS oscillator? thanks
It doesn't exist at this point.
Always a Student, Never a Master - Emulate What Works
  • #4,716
  • Apr 15, 2020 11:14am Apr 15, 2020 11:14am
Quoting RobinHood
{quote} It doesn't exist at this point.
Don't know if it works but I believe Emmanuel posted this one.
Attached File(s)
File Type: mq5 smTMMS Oscillator-MT5_v2.0.mq5   6 KB | 277 downloads
  • #4,717
  • Apr 15, 2020 11:18am Apr 15, 2020 11:18am
Green pips
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screen Shot 2020-04-15 at 12.17.22 PM.png Size: 153 KB
Click to Enlarge Name: Screen Shot 2020-04-15 at 12.19.58 PM.png Size: 191 KB
  • #4,718
  • Apr 15, 2020 11:49am Apr 15, 2020 11:49am
Quoting Vpa021
Green pips {image} {image}
Good for you man, but I do not see confirmation of basic rules. And then trading without stop loss. And also CAD had some news today.
  • #4,719
  • Apr 15, 2020 3:27pm Apr 15, 2020 3:27pm
Quoting RobinHood
{quote} Try trading 1:1.5. Trade only a few pairs. I prefer trading no more than 4 pairs at any one time. The Set Up bar/candle is simply the bar/candle that gives you the signal to enter a trade. You MUST allow this bar to close to be positive that it's giving a real signal to enter. The Entry bar/candle is simply the next bar after the Set Up bar/candle and you normally would enter on the Open of that bar. I mainly trade Daily charts right now. So due to the wide spreads at the Open of the Daily bars, I usually wait until one hour after the Open...
Thanks a lot!

May I ask if there is any particular reason or criteria why you try to exit your daily (or any other) trades just before the new trading day start?

I need to clarify it for myself as I thought that I need to keep my trades going until I have a signal for exit.

I still have 3 trades in profit and am thinking hard if I should close them or not.
It's not that I'm asking what to do but why.

Thanks!
Go big or go home
  • #4,720
  • Apr 15, 2020 4:06pm Apr 15, 2020 4:06pm
Quoting Deminsib
{quote} Thanks a lot! May I ask if there is any particular reason or criteria why you try to exit your daily (or any other) trades just before the new trading day start? I need to clarify it for myself as I thought that I need to keep my trades going until I have a signal for exit. I still have 3 trades in profit and am thinking hard if I should close them or not. It's not that I'm asking what to do but why. Thanks!
Because the spreads are so wide for about an hour after the Open.

You do need to keep your Daily trades open until you get an exit signal, it's just that you should exit about 5 minutes before the Close when you get an exit signal for the reason I just stated above.
Always a Student, Never a Master - Emulate What Works
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