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  • #341
  • Apr 22, 2020 11:07am Apr 22, 2020 11:07am
Quoting scsstnt
Good Afternoon all Traders, I have no words to describe this strategy from LauraT,you're a brilliant trader,thank you again.What took you so long to become a member of FF I just wanted to post my ''live'' GOLD trade below,the yellow shape box is where my buy entry should have been be placed much earlier and now ADR is max,thats perfect,I entered too late though,but my target achieved. I've also drawn some zones in which gold did some magic https://www.mql5.com/en/charts/11735...apital-markets...
Nice trade - well done

I guess I was too wrapped up in my own trading to want to frequent a forum. Now I'm getting a bit older though, I want to help others if I can.
  • #342
  • Apr 22, 2020 11:34am Apr 22, 2020 11:34am
Quoting LauraT
{quote} Nice trade - well done I guess I was too wrapped up in my own trading to want to frequent a forum. Now I'm getting a bit older though, I want to help others if I can.
Thank you very much,You've done so much for everyone here in such short space of time.We all getting older each day,of course god willing,age brings wisdom and hope it applies to forex trading too lol.
  • #343
  • Apr 22, 2020 12:00pm Apr 22, 2020 12:00pm
Attached Image (click to enlarge)
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This was a terrible entry. I'm showing it because I want to highlight how entries too far from the SMA impact our stop placement. As long as the channel stayed above the SMA, I was still in a valid trade. But I had to sit through a bit of pain in the process.

Hope this helps.
  • #344
  • Apr 22, 2020 12:04pm Apr 22, 2020 12:04pm
Quoting LauraT
{image} This was a terrible entry. I'm showing it because I want to highlight how entries too far from the SMA impact our stop placement. As long as the channel stayed above the SMA, I was still in a valid trade. But I had to sit through a bit of pain in the process. Hope this helps.
this is a great example. I got stuck in a similar entry at US market open on the SPX. Wasn’t sure what I did wrong, good to see it happens to you too. Tell
me are stops usually placed below recent low/SMA? This makes entering near the SMA important for RR ratio.
  • #345
  • Apr 22, 2020 12:15pm Apr 22, 2020 12:15pm
Quoting mUrfo
{quote} this is a great example. I got stuck in a similar entry at US market open on the SPX. Wasn’t sure what I did wrong, good to see it happens to you too. Tell me are stops usually placed below recent low/SMA? This makes entering near the SMA important for RR ratio.
You are spot on. Entering nearer the SMA means your stop can be closer.

I place a disaster stop that is never hit, as I manually manage the trade. I'll go into more detail when I write about trade management but, as the trade would be valid unless the channel crossed SMA, I am forced to give it quite a bit of wiggle room.

I do have methods to compensate for sub-optimal entries and I'll cover them over the weekend hopefully.
  • #346
  • Apr 22, 2020 1:01pm Apr 22, 2020 1:01pm
Quoting LauraT
{image} This was a terrible entry. I'm showing it because I want to highlight how entries too far from the SMA impact our stop placement. As long as the channel stayed above the SMA, I was still in a valid trade. But I had to sit through a bit of pain in the process. Hope this helps.
Hi Laura, great thread thanks for your contribution.
Regarding your stop losses, from the screenshot you attached I get that your losses are quite bigger than your winners. It's probably compensated by a higher WR, but do you have an idea of your average R:R over a large series of trades? And for example on this Dax trade, at what price level would you have closed out in the red?

Thanks,
  • #347
  • Apr 22, 2020 1:10pm Apr 22, 2020 1:10pm
Busy day and almost no time for screening on new positions.

Closed GPBNZD manually: +130 pips

Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2020-04-22 at 22.07.48.png Size: 43 KB


Will catch up reading this thread hopefully by tomorrow morning.
  • #348
  • Apr 22, 2020 1:28pm Apr 22, 2020 1:28pm
Quoting Barraka
{quote} Hi Laura, great thread thanks for your contribution. Regarding your stop losses, from the screenshot you attached I get that your losses are quite bigger than your winners. It's probably compensated by a higher WR, but do you have an idea of your average R:R over a large series of trades? And for example on this Dax trade, at what price level would you have closed out in the red? Thanks,
Hi - thanks for your kind words

I don't want to discuss my win rate or RRR, for a few reasons. One is that I consider it private, another is that I do not want to present a benchmark for others to judge themselves against. I will say though, the RRR isn't negative and the win rate is comfortably above 50%. I hope you understand why I am maintaining this stance. The last thing I want is to create expectations in others that might lead them to less than optimal decisions.

The point of posting the Dax trade was to show that a bad entry leads to a potentially larger loss if it goes wrong. But what I haven't shown yet is one of the runners I catch. Individual trades that can go on for more than one day on a 5m chart will deliver insane RRR and they happen often enough to skew the figures positively.

I cannot answer where I would have gotten out in price terms because I don't know. I would have exited with a loss when the market proved me wrong. That would be when the EMA channel fully crossed the SMA. As I've said previously, I do have a disaster stop in place but I am then manually managing the trade with no intention of allowing the disaster stop to be hit. 99.8% of my losses are taken manually once I'm proved wrong.

If entries are better than the one I showed, which thankfully they usually are, the realistic risk is actually not going to be necessarily bigger than the realistic gain. I hope that makes sense.

This will all become clearer when I have the time to sit and write in enough detail to do justice to the topic of trade management. As I'm trading and mentoring on weekdays, I'd imagine it will be this weekend.

Hope this helps.
  • #349
  • Apr 22, 2020 1:30pm Apr 22, 2020 1:30pm
Quoting FlyingCat
Busy day and almost no time for screening on new positions. Closed GPBNZD manually: +130 pips {image} Will catch up reading this thread hopefully by tomorrow morning.
Great result, well done

I'm guessing you weren't at your screen when price went to ADR high? Nevertheless, brilliant outcome. Keep it up!
  • #350
  • Apr 22, 2020 1:52pm Apr 22, 2020 1:52pm
Quoting LauraT
{quote} Hi - thanks for your kind words I don't want to discuss my win rate or RRR, for a few reasons. One is that I consider it private, another is that I do not want to present a benchmark for others to judge themselves against. I will say though, the RRR isn't negative and the win rate is comfortably above 50%. I hope you understand why I am maintaining this stance. The last thing I want is to create expectations in others that might lead them to less than optimal decisions. The point of posting the Dax trade was to show that a bad entry...
Thank you , it is a huge amount of work you are doing.
I am sorry I can't do anything else but thank you and emanate positive thoughts to you.
MTN
  • #351
  • Apr 22, 2020 1:54pm Apr 22, 2020 1:54pm
Quoting LauraT
{quote} Great result, well done I'm guessing you weren't at your screen when price went to ADR high? Nevertheless, brilliant outcome. Keep it up!
Correct, I was not around at the screen. You are right, the ADR high would had be a good point to lock profit in.

I am amazed about how even ‘less good entries’ and ‘less good exits’ work out well and the simplicity of just screening the charts in ~10 mins and then continue with other activities.

Very motivated to test the system further coming weeks.
  • #352
  • Apr 22, 2020 2:16pm Apr 22, 2020 2:16pm
EURAUD shaping up for a nice try on the hourly.
Attached Image (click to enlarge)
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  • #353
  • Apr 22, 2020 6:08pm Apr 22, 2020 6:08pm
Hi all,

The Usd/jpy had a near perfect short setup but unfortunately it did not work out. The aim is to have proper risk management. As LauraT has stated few times that placing trades as close as possible to the 200SMA is very important as the SL will be close and we will cut our losses. Nothing is guaranteed in trading, just make sure you have proper risk management and if you come out with a positive account you are doing ok. Trade well.

Regards
Dennis
  • #354
  • Apr 22, 2020 6:16pm Apr 22, 2020 6:16pm
Hi All,

Not a perfect setup but Eur/Aud tends to move as a bit during Asia session so got into this one for a small profit. Was a decent spike to take profit. Had set a profit for 20 odd pips as there was no decent lines around.

Regards
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDM5.png Size: 47 KB
  • #355
  • Apr 22, 2020 6:45pm Apr 22, 2020 6:45pm
Hi all, I would like to thank Laura T for her Brilliant strategy, I am in the USA, & trade the indices. Today I took a few NQ trades with this strategy. I took 3 trades long, 2 stop outs for - 40 ticks, an 1 winner for + 230 ticks, and I could have stayed in for 200 more. The NQ didn’t go back to the 200 Sma until 4PM Eastern. Thrilled
  • #356
  • Apr 22, 2020 6:54pm Apr 22, 2020 6:54pm
Quoting LauraT
{quote} Hi, The indicators are for MT4.
Not that this is your problem, but I haven't been able to install any indicators since I got Windows 10. I do all the things I've done for years, they appear in my indicators folder, but they don't appear in the list of indicators in the Navigator window, so I can't get them onto my charts. They all seem to download in a WinZip file, which I can't open. Therefore I can't follow this system because I can't get the levels you use or the MTF RSI or the red/green thingy in the corner. Never mind. You are a star for giving all the help that you do.
All you touch and all you see, is all your life will ever be.
  • #357
  • Apr 22, 2020 7:21pm Apr 22, 2020 7:21pm
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 35 KB


AU short. Price below Ema, and rsi below 50. aiming previous low.
  • #358
  • Edited 7:54pm Apr 22, 2020 7:42pm | Edited 7:54pm
This is an Expert Advisor that only sends signals (it does not open position)
for Buy signals :

  1. Candle high < MA 8 applied to low
  2. Price Ask >= MA 200
  3. ASK <= MA 8 applied to low
  4. MA 8 applied to high > MA 200
  5. RSI Trend > RSI High(input value)\

when all conditions are met, Alarm pop up+ audible signal + chart blink.

Test and confirm that it works as intended!!!

THIS ALERT IS ONLY FOR THE CONDITIONS LISTED ABOVE, YOU STILL HAVE TO EVALUATE BASED ON OTHER PARAMETERS

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 75 KB
Attached File(s)
File Type: ex4 A Way To Read Markets.ex4   145 KB | 763 downloads
  • #359
  • Apr 22, 2020 8:29pm Apr 22, 2020 8:29pm
Quoting jado911
This is an Expert Advisor that only sends signals (it does not open position) for Buy signals : Candle high < MA 8 applied to low Price Ask >= MA 200 ASK <= MA 8 applied to low MA 8 applied to high > MA 200 RSI Trend > RSI High(input value)\ when all conditions are met, Alarm pop up+ audible signal + chart blink. Test and confirm that it works as intended!!! THIS ALERT IS ONLY FOR THE CONDITIONS LISTED ABOVE, YOU STILL HAVE TO EVALUATE BASED ON OTHER PARAMETERS {image} {file}
It's taken a while but lookout, here come the EA fanatics.
All you touch and all you see, is all your life will ever be.
  • #360
  • Apr 22, 2020 8:40pm Apr 22, 2020 8:40pm
Quoting Loftboy
{quote} It's taken a while but lookout, here come the EA fanatics.
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