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1H Swing Trading on EURUSD

  • #621
  • Apr 23, 2020 3:39am Apr 23, 2020 3:39am
Quoting broketrader
{quote} I understand that you got serious losses, sorry to hear that! Yes, Money Management and personal targets are important but very personal, that's why everyone should have their own and that I don't want them discussed here, my risks and personal goals are only mine. It's the system that we can share and learn to trade, not the rest. Take the time now to think about some rules in order to not jeopardize your account on a couple of trades. Again, the system is good but will never be perfect and at times will be difficult to trade, like it is...

yeah i know! just was carried away with the success and overextended on the last sell signal.....thanks BT
Rise or fall....a better me!
  • #622
  • Apr 23, 2020 3:55am Apr 23, 2020 3:55am
Quoting ohm
{quote} Sadly, I also do the same, I also lost some of my investment, but i will follow this strategy; but only problem that i found from this is that we have to spend most of our time in front of the screen,I would like to have some sort of alert (if possible). Thank you BT
Sorry to hear that too, definitely hard times...

I'm aware of the screen problem time, thinking about but no solution so far... when I'm at work, the only solution I have found to not be 100% in front of the screen, is to check the hour closing price and not care in between, as I only use the close to validate anything.

Then for example when there is a new swing high/low in your favor, you know that you have plenty of time (usually more than one day) before needing to check again regularly even if you won't wait one day ;-)

You could also set your stop loss below a previous swing and relax knowing what is your maximum risk at any one time.

... all not perfect but some ideas...
Simplicity is the Ultimate Sophistication.
  • #623
  • Apr 23, 2020 4:05am Apr 23, 2020 4:05am
Quoting broketrader
{quote} As you talk about the stop losses, I think I talked about that in the past but see that it's important that I drop a word about it again... As you have seen so far, I never set any (visible) stop loss on my trades, because for this system to work you need to give the price plenty of room to move. For example, in the past, I have been 60+ pip in loss on a counter move, would you had been stopped on that move ? So think about it... As an example of what I do for my trades to set my mental stop loss, I follow these steps: 1. I decide the risk...
10% is manageable especially if you are ambitious with your take profits and you're therefore able to maximise big swings. I have created a system that works for me but it's very much inspired by what you've done here e.g. SMA96 + RSI indicator. However, I'm less ambitious and aiming for 50 pip gains and then finding re entry points. Therefore, my stops are smaller.

Watching and analysing this thread closely though as I would like to become more ambitious and think that comes with time, experience and confidence.
  • #624
  • Apr 23, 2020 4:05am Apr 23, 2020 4:05am
Quoting broketrader
{quote} Sorry to hear that too, definitely hard times... I'm aware of the screen problem time, thinking about but no solution so far... when I'm at work, the only solution I have found to not be 100% in front of the screen, is to check the hour closing price and not care in between, as I only use the close to validate anything. Then for example when there is a new swing high/low in your favor, you know that you have plenty of time (usually more than one day) before needing to check again regularly even if you won't wait one day ;-) You could also...
Hi BrokeTrade, could you tell me what the MyStochRSI settings are in M15? I would like to post in MT4 the same parameters that I have in trading view but I can't understand what they are for m15

Thanks
  • #625
  • Apr 23, 2020 4:17am Apr 23, 2020 4:17am
Quoting FrancescoDTM
{quote} Hi BrokeTrade, could you tell me what the MyStochRSI settings are in M15? I would like to post in MT4 the same parameters that I have in trading view but I can't understand what they are for m15 Thanks
You can try to modify the indicator by dividing by 3 the values used for M5 in the M15 time-frame but you will only see the 5m plot charted on the M15 time-frame. There is no M15 settings per se as I don't use M15 but H1 and M5 only.
Simplicity is the Ultimate Sophistication.
  • #626
  • Apr 23, 2020 6:09am Apr 23, 2020 6:09am
Taking some profits, will reload later eventually.
Simplicity is the Ultimate Sophistication.
  • #627
  • Apr 23, 2020 9:23am Apr 23, 2020 9:23am
Quoting penyuperwira
I modified your indicator to show on timeframe M5, M15, M30, H1, and H4... I also like to use period 200 too... just to filter mixed-signal... It probably has bugs that I don't know yet... {image}{image}{image} {file}{file}{file}{file}{file}{file}
Please delete that post, your screenshots show two SMAs and two SRSIs and I have already said that I don't want to over-complicate things.
We only need H1 to confirm events and m5 to see where the waves are. that's all.
Simplicity is the Ultimate Sophistication.
  • #628
  • Apr 23, 2020 9:29am Apr 23, 2020 9:29am
Quoting broketrader
{quote} Please delete that post, your screenshots show two SMAs and two SRSIs and I have already said that I don't want to over-complicate things. We only need H1 to confirm events and m5 to see where the waves are. that's all.
Ok. I've deleted the post... Thanks for the original indicators btw.
  • #629
  • Apr 23, 2020 9:31am Apr 23, 2020 9:31am
Quoting penyuperwira
{quote} Ok. I've deleted the post... Thanks for the original indicators btw.
Thanks Post #1 indicators have all needed.
Simplicity is the Ultimate Sophistication.
  • #630
  • Apr 27, 2020 6:22am Apr 27, 2020 6:22am
Wait for the rollback and go North?
  • #631
  • Apr 27, 2020 6:54am Apr 27, 2020 6:54am
Quoting Den77
Wait for the rollback and go North?
Yes, will add on the retracement.
Simplicity is the Ultimate Sophistication.
  • #632
  • Apr 28, 2020 5:10am Apr 28, 2020 5:10am
With this hour close and new swing high we are at the beginning of 20-13 trend.

Attached Image (click to enlarge)
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Want to add more but was looking for larger retracement as I have to be prudent, the 2 next days we have FOMC and ECB rates and we will have some volatility.
I will take the risk then, if we have a spike at and even below the SMA. Now it would have been too early and I'm anyway to near of my current signal entry.
Simplicity is the Ultimate Sophistication.
  • #633
  • Apr 29, 2020 7:19am Apr 29, 2020 7:19am
Price may go south now. See GU; the Euro almost always follows it...you may consider closing some long positions till a clearer signal emerges.
  • #634
  • Apr 29, 2020 7:50am Apr 29, 2020 7:50am
Quoting Sureforex
Price may go south now. See GU; the Euro almost always follows it...you may consider closing some long positions till a clearer signal emerges.
If you had watched or read just a bit about what I do here you would know that I don't care about GU and whatever says your crystal ball I just follow my system which has already given me a clear signal by the way. No need of more of your useless science and comments, bye!
Simplicity is the Ultimate Sophistication.
  • #635
  • Apr 29, 2020 7:52am Apr 29, 2020 7:52am
Quoting Sureforex
Price may go south now. See GU; the Euro almost always follows it...you may consider closing some long positions till a clearer signal emerges.
Be careful can be a false breakout(or cross) on GU!.
  • #636
  • Apr 30, 2020 10:28am Apr 30, 2020 10:28am
Again, trusting the system and learning to stay calm and just wait in front of 60+ pips retracements seems to pay...

I'm not fully loaded on this one, only 70%, as I was expecting deeper retracements that didn't came this time and I don't want to add at higher prices.
Learning from the past to get better entries, near SMA, or no entry at all even if from time to time, like now, I'm not fully loaded.

With the base of this recent impulse, we have a second point to draw our trend, the 13th of the year !

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 111 KB
Simplicity is the Ultimate Sophistication.
  • #637
  • May 1, 2020 4:08am May 1, 2020 4:08am
I closed my long position on this one, big move and I'm happy with the profit with RR 3:1.
Have a nice day!
Attached Image (click to enlarge)
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  • #638
  • May 1, 2020 4:21am May 1, 2020 4:21am
Quoting Mermain
I closed my long position on this one, big move and I'm happy with the profit with RR 3:1. Have a nice day! {image}
Well done, very nice !
Simplicity is the Ultimate Sophistication.
  • #639
  • May 1, 2020 12:07pm May 1, 2020 12:07pm
Quoting broketrader
{quote} If you had watched or read just a bit about what I do here you would know that I don't care about GU and whatever says your crystal ball I just follow my system which has already given me a clear signal by the way. No need of more of your useless science and comments, bye!
Importance of not giving a shit about what others say, trade your way, ignore the rest.
Building a Freedom All Time Return: 5,178.8%
  • #640
  • May 1, 2020 12:24pm May 1, 2020 12:24pm
Quoting J1mm
{quote} Importance of not giving a shit about what others say, trade your way, ignore the rest.
LOL, yes, very well said, it's a long time now that I'm not paying any attention anymore to fortune tellers, and more than that, I'm almost allergic to them, that's why I maybe look a bit harsh at times...
Simplicity is the Ultimate Sophistication.
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