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A very simple system - trade with arrow

  • #7,301
  • Apr 23, 2020 7:33am Apr 23, 2020 7:33am
Dnetto, I see you subscribing to me but I have not seen any of your post..any reason ?
the cautious seldom err....C
  • #7,302
  • Apr 23, 2020 8:58am Apr 23, 2020 8:58am
Quoting pips29
{quote} i believe my risk management is taking my trade to b/e asap..in other words risk free...that is why i aim at perfect entry rather than what sort of risk i'm taking..my attitude to trading is i aim not to lose when i enter and the last thing on my mind is how much i will lose when wrong..i don't believe in what the gurus say about risk management especially like say risking 5% or 10 %..why do i need to prepare for a loss..when you go to battle you go with the aim of winning ,if not don't fight, wait for a better opportunity..that's why when...
This is an interesting point of view. And it’s clear that this works for you. In my case, I always lost a deposit when I neglected MM and believed in a good deal. In any case, there is something to think about ..
Trading has been and always will be, a hard way to make an easy living.
  • #7,303
  • Apr 23, 2020 9:30am Apr 23, 2020 9:30am
Quoting Boobligoom
{quote} This is an interesting point of view. And it’s clear that this works for you. In my case, I always lost a deposit when I neglected MM and believed in a good deal. In any case, there is something to think about ..
just in case you think wrongly I do have a stop when I enter..what I don't have is a fixed stop, by that I mean,some traders put in a 50 pips stop and look for a 2x stop profit or a risk:reward of 1:2 the market doesn't always give you what you want and so you could be taking 30 pips profit risking 50 pips..some gurus will tell you it 's an adverse r:r and it's discouraged. I just put my stop where I think it will not be reached, if price takes me out so be it...that's why I try very hard to time a good entry with minimal stop..May I know what type of stop you are using because you are looking for 10 pips or so
the cautious seldom err....C
  • #7,304
  • Apr 23, 2020 9:36am Apr 23, 2020 9:36am
you can see if I moved the stop to b/e when price moved below my entry my target would have been reached or if I had taken an entry where I stupidly exited and then set it to b/e when price moved down my target would be hit as well, so by moving to b/e I have zero risk and more than 80 pips target , go and calculate what the r:r is
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the cautious seldom err....C
  • #7,305
  • Apr 23, 2020 10:01am Apr 23, 2020 10:01am
For the second time in a row this week. This is not where I like to get into a deal. This is risky for me. Continuation of the Strong impulse up can very quickly get you out of the game. But .. Touching the EMA34 Level for H4. Daily pivot and a strong level of 1.0840. The entry was on a 1 minute candle when it closed below 1.0840. The stop was placed at the maximum of the previous candle. Today is a big catch of +20. I think that in such places you need to trade very carefully and this is contraindicated for beginners. First you need experience using the main entry points that the strategy offers in this thread. That is, you must wait for confirmation on the lower timeframes (m5 / m15) in order to enter the continuation of the trend. @ pips29 correct me if I'm wrong.
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Trading has been and always will be, a hard way to make an easy living.
  • #7,306
  • Apr 23, 2020 10:10am Apr 23, 2020 10:10am
Quoting pips29
{quote} just in case you think wrongly I do have a stop when I enter..what I don't have is a fixed stop, by that I mean,some traders put in a 50 pips stop and look for a 2x stop profit or a risk:reward of 1:2 the market doesn't always give you what you want and so you could be taking 30 pips profit risking 50 pips..some gurus will tell you it 's an adverse r:r and it's discouraged. I just put my stop where I think it will not be reached, if price takes me out so be it...that's why I try very hard to time a good entry with minimal stop..May I know...
Thanks for the detailed answer. Now everything is clear to me. In the long run, you have excellent r: r.
Trading has been and always will be, a hard way to make an easy living.
  • #7,307
  • Apr 23, 2020 10:22am Apr 23, 2020 10:22am
Quoting Boobligoom
For the second time in a row this week. This is not where I like to get into a deal. This is risky for me. Continuation of the Strong impulse up can very quickly get you out of the game. But .. Touching the EMA34 Level for H4. Daily pivot and a strong level of 1.0840. The entry was on a 1 minute candle when it closed below 1.0840. The stop was placed at the maximum of the previous candle. Today is a big catch of +20. I think that in such places you need to trade very carefully and this is contraindicated for beginners. First you need experience...
what you have done is exactly what I would do if I had taken this pair..I have mentioned several times that 34 ema on H4 acts well as S/R..even though taking the trade on the ltf seems countertrend it's actually trading the trend on H4 which is down...nothing wrong with the trade but not recommended for fairly new traders..for this group of traders it's better to trade with the trend on the ltf and take perhaps smaller pips but still good..the aim of this game is not to lose
the cautious seldom err....C
  • #7,308
  • Apr 23, 2020 10:38am Apr 23, 2020 10:38am
I just watched this playing out by the big boys fooling traders who went short at the break of the level I marked on my chart and then fooled them again by taking losses and went long only to be fooled again when price was rejected at the 34 ema and cut their longs when price took a dive down to continue with the down move..a short at the rejection of the 34 ema would have brought in handsome profits with a small stop..hindsight is great but I knew it before it happened
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the cautious seldom err....C
  • #7,309
  • Apr 23, 2020 10:44am Apr 23, 2020 10:44am
Quoting Boobligoom
For the second time in a row this week. This is not where I like to get into a deal. This is risky for me. Continuation of the Strong impulse up can very quickly get you out of the game. But .. Touching the EMA34 Level for H4. Daily pivot and a strong level of 1.0840. The entry was on a 1 minute candle when it closed below 1.0840. The stop was placed at the maximum of the previous candle. Today is a big catch of +20. I think that in such places you need to trade very carefully and this is contraindicated for beginners. First you need experience...
I caught a big tiger by the small tail .. But let it go earlier
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Trading has been and always will be, a hard way to make an easy living.
  • #7,310
  • Apr 23, 2020 10:51am Apr 23, 2020 10:51am
Quoting Boobligoom
{quote} I caught a big tiger by the small tail .. But let it go earlier{image}
Like I said you own your trade and it's down to you when to exit..I would not exit so quickly as you have joined the trend at the top of the ltf and joining the trend on the htf..you can now picture where you took the trade using this picture...this is very important and once you understand what the picture is telling you..you r success rate would be at least 70%. Please don't take notice of the yellow spot ,,that's for an uptrend and I don't know how to remove that spot..just ignore it EDit: please use the 3 tf chart to find out where you might have taken an entry...it's very important that you know and so improve on your entry..time for me to log off..bbl
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the cautious seldom err....C
  • #7,311
  • Apr 23, 2020 1:20pm Apr 23, 2020 1:20pm
Quoting pips29
{quote} Like I said you own your trade and it's down to you when to exit..I would not exit so quickly as you have joined the trend at the top of the ltf and joining the trend on the htf..you can now picture where you took the trade using this picture...this is very important and once you understand what the picture is telling you..you r success rate would be at least 70%. Please don't take notice of the yellow spot ,,that's for an uptrend and I don't know how to remove that spot..just ignore it EDit: please use the 3 tf chart to find out where you...
Thanks! I removed this square for you)
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Trading has been and always will be, a hard way to make an easy living.
  • #7,312
  • Apr 25, 2020 6:04am Apr 25, 2020 6:04am
Hi all bro. im posting my trades on Fri. let get some comment from bro @pips29 if he willing to
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Do it like a Fool
  • #7,313
  • Apr 26, 2020 2:00am Apr 26, 2020 2:00am
Quoting Foolsgame
Hi all bro. im posting my trades on Fri. let get some comment from bro @pips29 if he willing to {image} {image} {image}
the shorts on uy were correct but the stop was wrong with your first entry..as for the loonie you should have observed pa where the low was before your entry, were they not showing you bullishness..it's better to put in a pending sell 2-3 pips below that low if you really want to go short rather than entering where you did and lastly another wrong stop for the aussie trade
the cautious seldom err....C
  • #7,314
  • Apr 26, 2020 4:56am Apr 26, 2020 4:56am
Quoting pips29
{quote} the shorts on uy were correct but the stop was wrong with your first entry..as for the loonie you should have observed pa where the low was before your entry, were they not showing you bullishness..it's better to put in a pending sell 2-3 pips below that low if you really want to go short rather than entering where you did and lastly another wrong stop for the aussie trade
thanks for the rply bro. so whats the opion of stop if you are in the trade?
could you explain more clearer view of the UCAD?i enter 10/34 ema and the trend is going down where H1 show rejection from 34 ema. so whats is your first thought if you see this?
Do it like a Fool
  • #7,315
  • Apr 26, 2020 11:16am Apr 26, 2020 11:16am
Quoting Foolsgame
{quote} thanks for the rply bro. so whats the opion of stop if you are in the trade? could you explain more clearer view of the UCAD?i enter 10/34 ema and the trend is going down where H1 show rejection from 34 ema. so whats is your first thought if you see this?
If you are referring to the rejection candle as shown on my chart, you were very late to have gone short, price had moved more than 50 pips before your entry..in any case it's one of those days when pa was confusing..just have to take the loss
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the cautious seldom err....C
  • #7,316
  • Apr 27, 2020 12:46am Apr 27, 2020 12:46am
Quoting Foolsgame
{quote} thanks for the rply bro. so whats the opion of stop if you are in the trade? could you explain more clearer view of the UCAD?i enter 10/34 ema and the trend is going down where H1 show rejection from 34 ema. so whats is your first thought if you see this?
the pa on this pair was similar to the loonie..first you can see a pinbar and price retraced back up and if you took the 34 ema rejection like the one on the loonie your trade would be a loss...so it's better to put a pending sell just a few pips below the pinbar
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the cautious seldom err....C
  • #7,317
  • Apr 27, 2020 2:22am Apr 27, 2020 2:22am
Quoting pips29
{quote} the pa on this pair was similar to the loonie..first you can see a pinbar and price retraced back up and if you took the 34 ema rejection like the one on the loonie your trade would be a loss...so it's better to put a pending sell just a few pips below the pinbar {image}
got it. means got pinbar PA. need more cautious
Do it like a Fool
  • #7,318
  • Apr 27, 2020 2:46am Apr 27, 2020 2:46am
gone long cable
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the cautious seldom err....C
  • #7,319
  • Apr 27, 2020 2:47am Apr 27, 2020 2:47am
Quoting Foolsgame
{quote} got it. means got pinbar PA. need more cautious
the cautious seldom err....C
  • #7,320
  • Apr 27, 2020 3:52am Apr 27, 2020 3:52am
Quoting pips29
gone long cable {image}
taken 1/3 off and stop moved to b/e+
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the cautious seldom err....C
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