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1H Swing Trading on EURUSD

  • #681
  • May 20, 2020 1:56pm May 20, 2020 1:56pm
Quoting emmzett
{quote} I reported you to the Forexfactory admins and asked to flag you as a commercial member. You should not be allowed to post your crap here in this part of the forum. ps to all readers: On his website he tries to sell Broketrader's system for $500, and other free systems from Forexfactory. See http://amntrader.com/AMNTrader-com-Swing-MNTrader/ for Broketrader's system. See http://amntrader.com/AMNTrader-com-%D0%A1hannel-VA-MNTrader/...
I think that what he sells is the automation part for ninja trader because he's not hiding that the system comes from me as there is a link to this thread on his page and I think that legally he can do that but anyway I don't care, I don't have time and energy to spend on that.

Thank you for making us aware of it...
Simplicity is the Ultimate Sophistication.
  • #682
  • May 20, 2020 2:01pm May 20, 2020 2:01pm
Quoting broketrader
{quote} I think that what he sells is the automation part for ninja trader because he's not hiding that the system comes from me as there is a link to this thread on his page and I think that legally he can do that but anyway I don't care, I don't have time and energy to spend on that. Thank you for making us aware of it...
Legally he can do that, of course. But doing it in this part of the forum is against FF rules. And for a good reason as most of such offers are cons. However one wants to see it, there is absolutely no difference between his site and the countless other websites selling the holy grail to beginners.
It takes blood, sweat and enough tears to wash away the blood.
  • #683
  • May 20, 2020 2:09pm May 20, 2020 2:09pm
Quoting emmzett
{quote} Legally he can do that, of course. But doing it in this part of the forum is against FF rules. And for a good reason as most of such offers are cons. However one wants to see it, there is absolutely no difference between his site and the countless other websites selling the holy grail to beginners.
I completely agree
Simplicity is the Ultimate Sophistication.
  • #684
  • May 21, 2020 4:21am May 21, 2020 4:21am
hello BT, thanks for the system, can i know what is the value of the STORSI indicator? i cannot locate it in the previous thread, i'm just using the web platform of Oanda. thanks
  • #685
  • May 21, 2020 7:52am May 21, 2020 7:52am
Looks like we are having a decent trend after the 4 previous tentatives, that's a good thing, just waiting for a new signal now ...

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Simplicity is the Ultimate Sophistication.
  • #686
  • May 22, 2020 1:47am May 22, 2020 1:47am
Entered with 40% on new signal, my previous sell was an anticipation, will add more on retracement later, stop is around last swing high...

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Will also initiate a trade on AUDCHF as it's giving a signal soon, stop is above swing like EU, will load 40% only, no more, just to learn to trade this pair...

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Simplicity is the Ultimate Sophistication.
  • #687
  • May 23, 2020 7:53am May 23, 2020 7:53am
Extending trading to Majors + EURGBP and EURJPY !

Starting from now, I will cut by a third my risk on EURUSD and distribute that risk plus some more over all the other Majors.
In all, I will be trading now EURUSD, USDJPY, GBPUSD, AUDUSD, USDCHF, NZDUSD, USDCAD, EURGBP and EURJPY !

By doing so I will increase my risk from actually 15% per trade to something like 26% ! This is for the worst case scenario where I'm in on all pairs and all terminate in a loss. So my risk on EU will be now of 10% per trade while all others will carry 2% per trade.

I will keep trading EU as I do now while the rules for the others majors will be different in only 3 points.

1. There is only one entry on signal.

2. Profit targets are to be kept small, 50 pips seems to work well on all pairs.

3. Stop Loss maximum is 75 pips even if previous swing is farther than that.


The lot size is calculated using the distance from signal (ENTRY) to previous swing high or low (STOP) which should always form a short term top or bottom but limited to 75 pips as said on point 3, if that distance is greater than that.

The trades should be entered with their SL and TP set from the beginning, that way I can forget about them.

These were all the setups for May on all pairs.

USDJPY: 150 pips gain 75 pips loss = +75

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GBPUSD: 150 pips gain, 75 pips loss = +75

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AUDUSD: 100 pips gain, 75 pips loss = +25

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USDCHF: 100 pips gain = +100

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NZDUSD: 150 pips gain = +150

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USDCAD: 250 pips gain, 75 pips loss = +175

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EURGBP: 100 pips gain, 75 pips loss = +25

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EURJPY: 100 pips gain, 75 pips loss = +25

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So, overall in May, I would have had: 75+75+25+100+150+175+25+25 = 650 pips profit !

Now, as always, this seems all nice but it's still only theory as long has it hasn't proved profitable live and on the long run !
Meaning that I will give it a try for a week, a month or a year, I don't know, and then see if it's a way I can go or not.
.
.
Simplicity is the Ultimate Sophistication.
  • #689
  • May 23, 2020 10:47am May 23, 2020 10:47am
Quoting LuboLabo
This is how you can loose all quickly! With such MM you wil not survive long!
Lol, another preacher man with its crystal ball !

I' have been trading this, 6+ months now, well not in all majors but EU and only using my MM on which apparently you know nothing but still know already it won't let me survive, damn I'm just wondering how I have been able to survive until now without you !

Hopefully we have you on board now... well I prefer not!
Simplicity is the Ultimate Sophistication.
  • #690
  • May 24, 2020 4:41pm May 24, 2020 4:41pm
Quoting broketrader
Extending trading to Majors + EURGBP and EURJPY ! Starting from now, I will cut by a third my risk on EURUSD and distribute that risk plus some more over all the other Majors. In all, I will be trading now EURUSD, USDJPY, GBPUSD, AUDUSD, USDCHF, NZDUSD, USDCAD, EURGBP and EURJPY ! By doing so I will increase my risk from actually 15% per trade to something like 26% ! This is for the worst case scenario where I'm in on all pairs and all terminate in a loss. So my risk on EU will be now of 10% per trade while all others will carry 2% per trade. I...
Small Update:
a) Absolute stop loss used for lot calculation will be 50 pips except for GBPUSD and EURJPY where I will use 75 pips.
b) TP will be as per my own judgement (no fixed target).

Next Trades:
short 0.36 GU @ 1.21693
short 0.45 AU @ 0.65320
short 0.45 NU @ 0.60933
short 0.37 EG @ 0.89457
short 0.32 EJ @ 117.161
long 0.63 UC @ 1.40041

Some EU must be closed to reflect new risk and AUDCHF has to be closed as it's replaced by AUDUSD.
Simplicity is the Ultimate Sophistication.
  • #691
  • May 25, 2020 12:31am May 25, 2020 12:31am
Having a closer look at UC which is a bit weak but still resilient.
Should it made a new short term low, I will consider closing it before eventually re-enter if trend resumes.
No need to let it go till the 50 pips limit, if price action is against me!

Edit: Same story for EJ!

All others are in their recent trading range as the market is quiet this morning.
Simplicity is the Ultimate Sophistication.
  • #692
  • May 25, 2020 3:09am May 25, 2020 3:09am
Added long 0,60 UJ @ 107.753 a bit in anticipation but we should have a signal if it remains at that level the next couple of hours...
UC seems to be improving a bit, good sign...
Simplicity is the Ultimate Sophistication.
  • #693
  • May 25, 2020 4:13am May 25, 2020 4:13am
Why the switch from the 100 sma to the 96 sma? Thanks.
  • #694
  • May 25, 2020 4:20am May 25, 2020 4:20am
Quoting IRISH37
Why the switch from the 100 sma to the 96 sma? Thanks.
Pure cosmetic, only because 96 rounds to 4.00 days (96/24) while 100 gives 4.16
Simplicity is the Ultimate Sophistication.
  • #695
  • May 25, 2020 4:28am May 25, 2020 4:28am
Quoting broketrader
Having a closer look at UC which is a bit weak but still resilient. Should it made a new short term low, I will consider closing it before eventually re-enter if trend resumes. No need to let it go till the 50 pips limit, if price action is against me! Edit: Same story for EJ! All others are in their recent trading range as the market is quiet this morning.
Took a loss on UC and reverted it to short, short 0.63 UC @ 1.39742
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Simplicity is the Ultimate Sophistication.
  • #696
  • May 25, 2020 4:47am May 25, 2020 4:47am
Thank you for sharing this system with us. I follow with excitement.
  • #697
  • May 26, 2020 10:49am May 26, 2020 10:49am
Quoting broketrader
Extending trading to Majors + EURGBP and EURJPY ! Starting from now, I will cut by a third my risk on EURUSD and distribute that risk plus some more over all the other Majors. In all, I will be trading now EURUSD, USDJPY, GBPUSD, AUDUSD, USDCHF, NZDUSD, USDCAD, EURGBP and EURJPY ! By doing so I will increase my risk from actually 15% per trade to something like 26% ! This is for the worst case scenario where I'm in on all pairs and all terminate in a loss. So my risk on EU will be now of 10% per trade while all others will carry 2% per trade. I...
So it looks like it was not the best moment to try this as I got my first full reversal in EU and everything went upside down !

The 50 pips risk was a bad idea, the initial idea of using the previous swing was far better and would have been more relax to trade.
Entering on all pairs was not a good idea for a try, needed too much monitoring... consider only adding 1-3 if any, no more.
Needs to rethink if really reasonable to add any other pair to trade, as I have made already very good profits on almost only EU !
Think using signal impulse on EU to enter one shot quick profit trade (wave 0) as an alternative.
In case I would like to retry:
a) reduce the number of pairs and b) trade with only 0.01 lots, c) collect stats for at least 3 months, then conclude if it's worth the effort or not.

A lot of things to think about so I revert to EU only while I try to get answers to all this.
Simplicity is the Ultimate Sophistication.
  • #698
  • May 28, 2020 5:34am May 28, 2020 5:34am
Quoting broketrader
{quote} So it looks like it was not the best moment to try this as I got my first full reversal in EU and everything went upside down ! The 50 pips risk was a bad idea, the initial idea of using the previous swing was far better and would have been more relax to trade. Entering on all pairs was not a good idea for a try, needed too much monitoring... consider only adding 1-3 if any, no more. Needs to rethink if really reasonable to add any other pair to trade, as I have made already very good profits on almost only EU ! Think using signal impulse...
I really like your systematic approach, watching closely! Thanks for sharing
  • #699
  • May 28, 2020 7:55am May 28, 2020 7:55am
Quoting Joysen
{quote} I really like your systematic approach, watching closely! Thanks for sharing
Yes, regularly, I think when I'm bored, I do some shitty trading. When that arises, one important thing is to be honest with one self and try to get something out of it because otherwise it's just money spent for nothing. I think I have taken something out of this episode but only time will tell if I have fully understood the lesson.

You're welcome!
Simplicity is the Ultimate Sophistication.
  • #700
  • May 28, 2020 1:16pm May 28, 2020 1:16pm
Wow! Just got what I needed, one good push from last trend line touch at 1.10 to put the account again near the top.

I Could have bought at a better level as I missed the retracement to SMA in that big bull candle but at that moment I was somehow not focused on my trading, I was feeling like the system was derailing because of the choppy market we had in the previous weeks so when that happens, let the market do it's thing and just trade the system and have patience... still have to learn that.

When the trend was there, just added some heavy trades in the direction of the signal and it just worked so I'm happy with what I have but still plenty of things to rethink and review this weekend.

Have survived another month, need to relax a bit and clear my mind in order to have a clean month of June !

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Simplicity is the Ultimate Sophistication.
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