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Beat brokers at their own game - trading round figures

  • #101
  • Oct 1, 2019 5:05am Oct 1, 2019 5:05am
Here's three trades from this morning.

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Gold trade was a pending order trade

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  • #102
  • Oct 1, 2019 5:58am Oct 1, 2019 5:58am
Gold manual trade to the level.

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  • #103
  • Oct 1, 2019 7:44am Oct 1, 2019 7:44am
And another. Closed early but it hit the 50 level again.

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  • #104
  • Oct 1, 2019 8:15am Oct 1, 2019 8:15am
This trading strategy remembers me a little bit on this strategy "As simple as possible: 00 level trading", https://www.forexfactory.com/showthread.php?t=487923.
But it´s much more simpler. You´re looking for the pure price action and if the market approaches the 50 and 100 levels, you´re entering the market. The market must be trendig. How high is the hit ratio?
  • #105
  • Oct 1, 2019 8:23am Oct 1, 2019 8:23am
I was watching this one but didn't take it. It worked though.

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  • #106
  • Oct 1, 2019 8:42am Oct 1, 2019 8:42am
Quoting fegeme
This trading strategy remembers me a little bit on this strategy "As simple as possible: 00 level trading", https://www.forexfactory.com/showthread.php?t=487923. But it´s much more simpler. You´re looking for the pure price action and if the market approaches the 50 and 100 levels, you´re entering the market. The market must be trendig. How high is the hit ratio?
Yes I studied that thread, it is very good but I like to keep things simpler. Hit rate is very high, 90 %+
  • #107
  • Oct 1, 2019 10:47am Oct 1, 2019 10:47am
90%+! Unbeliveable! To nice to be true!
  • #108
  • Oct 1, 2019 1:52pm Oct 1, 2019 1:52pm
Quoting fegeme
90%+! Unbeliveable! To nice to be true!
  • #109
  • Oct 2, 2019 12:53am Oct 2, 2019 12:53am
6:30 am here in the UK . First trade of the day , a 9.2 pip winner, traded with trend to the 80 level.

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  • #110
  • Oct 2, 2019 2:31am Oct 2, 2019 2:31am
10 pip winner GJ sell right after the London Open. 132.00 RN tested.

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I am testing a mtf MACD indicator, I like it

Attached File(s)
File Type: ex4 MACD_OsMA_4ColorH_2LVar_mtf alerts nmc.ex4   32 KB | 597 downloads
  • #111
  • Oct 2, 2019 3:51am Oct 2, 2019 3:51am
NJ Sell to the 67.00 RN. Not one of my usual pairs to trade but if the setup is perfect I will always take the trade.

I could have entered one or two candles earlier but better late than never.

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  • #112
  • Oct 2, 2019 10:41am Oct 2, 2019 10:41am
Whilst I was away from the computer two pending orders triggered on Gold for 7 pips each, I wish I had placed the extra two orders at the blue boxes.

Gold is still a little new to my trading toolbox at the moment.

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  • #113
  • Oct 2, 2019 11:02am Oct 2, 2019 11:02am
Quoting HighFive
NJ Sell to the 67.00 RN. Not one of my usual pairs to trade but if the setup is perfect I will always take the trade. I could have entered one or two candles earlier but better late than never. {image}
Trades look good. Well done!

1. What do you look for to identify potential trades for the day?
2. How do you set the SL and TP level?
3. Do you also trade news or NY sessions?
  • #114
  • Oct 3, 2019 8:15am Oct 3, 2019 8:15am
@HighFive

would you mind sharing your indicators - or pointing to where to find them ??

esp. - I'm searching for this CAN indicator in the upper right - as well as the one above with the blue arrows...

Best,

mt
  • #115
  • Oct 9, 2019 1:24pm Oct 9, 2019 1:24pm
Family commitments have meant I have not been able to post much here recently and I won't be able to much for a while.

Here's a handful of trades from this morning. The last two were pending orders. Gold really likes moving between the round numbers.

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  • #116
  • Oct 9, 2019 2:12pm Oct 9, 2019 2:12pm
Quoting mtacki
@HighFive would you mind sharing your indicators - or pointing to where to find them ?? esp. - I'm searching for this CAN indicator in the upper right - as well as the one above with the blue arrows... Best, mt
I have put all the indicators I use in the zipped file below

Attached File(s)
File Type: zip levels.zip   637 KB | 677 downloads


Templates for Gold and Currencies below
Attached File(s)
File Type: tpl gold.tpl   453 KB | 647 downloads

Attached File(s)
File Type: tpl currencies.tpl   519 KB | 668 downloads
  • #117
  • Oct 9, 2019 2:15pm Oct 9, 2019 2:15pm
Quoting wavetraderix
{quote} Trades look good. Well done! 1. What do you look for to identify potential trades for the day? 2. How do you set the SL and TP level? 3. Do you also trade news or NY sessions?
Hi Wavetrader I am pushed for time right now I will try to answer you in a day or two. Regards HF
  • #118
  • Apr 16, 2020 5:06pm Apr 16, 2020 5:06pm
Hello guys which leverage is best to with trade?
  • #119
  • Sep 26, 2022 8:02pm Sep 26, 2022 8:02pm
USDCAD
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  • #120
  • Sep 27, 2022 4:00am Sep 27, 2022 4:00am
Quoting UnnamedPlayr
I think "stop hunting" doesn't exist in the way it is mostly discussed here. Sure many stops get hit but it is a normal byproduct when the banks are buying currencies. They don't give a damn about where the small retail guys put stops because they have the order to buy or sell a special currency. And the most orders never see the real interbank market. They stay in the market maker order books (MM brokers).

I think you are wrong.

Market works this way: there are limit orders in the orderbook. They are "wishes" backed with liquidity. Also there are stops in the orderbook. But they are hidden. They are liquidity too.

Market moved only when market order executed. Once executed it searches for the best match - for the limit orders in the orderbook. Also it trigger stops. And stops are market orders too. That's why price moves. Because stops also start to search for best limit order to match (price and size). Also it start to trigger more and more stops until everything will reach the high density liquidity pool. Then the movement stops.

I have described real market, like CME for example. If we are talking about forex you have to forget all that I said. Literally forex don't care if there are no matching buyers and sellers. Because forex is casino. They have positive expectation against traders so they just copy-paste data from several real exchanges drawing charts for you. And it doesn't matter what really happening in the market (current broker). The price will be exactly the same like it was at source data.

That's why all the drawings with poker faces and all the strategies people are posting here is purest finest 100% bullshit. You have to analyze the source, not the fake copy-paste mixed and zipped data. It is only to draw the candles for us. Totally useless.
Observer effect
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