Trading Made Simple(r)

Quoting Backspin

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{quote} Thank you Marcus. I've been lurking for a few weeks and am working on something to trade intraday. It's a work in progress to say the least. When I looked at your template I was reminded of the Murray Math (MM) levels and I found a MM indi that duplicates what you have when set on 1440 (daily) - pic attached. MM indi also attached. So it can just be loaded onto any chart. It also has the advantage of different settings should one want smaller intraday settings or weekly & monthly. For lower timeframes I'm using 240 (H4) and find it interesting....

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Quoting neil001

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{quote} Hey FxShouyo - So what is your edge then?? If you are going to enter early, why look left......just do it....??? Trading what YOU THINK will happen will end in tears - If it's the big win, without edge, you are looking for, a casino will give a better return - unless of course, you are trading without and edge??

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Quoting FXShoujo

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{quote} I enter early exactly because I look left. I just go with probability. If it happens once in the past, it could happen again in the future. If it bounce from the support/resistance once, then it could bounce again. I personally don't trade trends, don't care about them. I just manage my trade, where to take loss, where to take profit. But of course, I will always accept critics/feedback. So, could you tell me how do you spot a trend and trade them? I would like to learn and maybe if it does make sense, I would revised my trade plan. Thank...

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Quoting Ah-Ong

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{quote} RSI not yet cross level 50. {image}

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Quoting neil001

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{quote} Hey FXShoujo - please don't think i'm criticizing mate - just discussing different opinions..........just wondering how you trade with no edge. I know a lot of full-time traders and every single one can articulate their edge and have validated it with backtesting and know exactly what their ratios are before entering a trade.....It doesn't really matter if you trade trends or not as long as you know your edge (IMHO)

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Quoting FXShoujo

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{quote} So these examples are bad trade setups? {image} {image} {image}

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Quoting neil001

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{quote} I was in on the EURCAD trade as well - hard to tell what candle you used but that was a good trade result right?? For my trade, I had a 54% chance of going 1:3 and a 62% chance of going 1:2 based on my edge - it went 1:3 for me...are the top two on demo??

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Quoting Rubernet

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{quote} Hi Warsito, good risk management will eliminate fear, that is part of trading, I divide my trade size into 2 smaller trades depending on my risk assessment. I take the 1st trade then after 10 + pips, if i am happy with the momentum and strength, I would enter the next trade. For every trade I set a target depending what I am trading. When 1st target has been met I would close the 1st trade and then let the rest run. Usually I would add more trades as price breaks and closes below or above support or resistance levels. When you have a strong...

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Quoting FXShoujo

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{quote} So these examples are bad trade setups? {image} {image} {image}

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Quoting ArmanArif

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{quote} Hi mate, so u entry straight away when the HMA cross the MA5?

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Quoting FXShoujo

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{quote} So these examples are bad trade setups? {image} {image} {image}

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Quoting FXShoujo

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Come on, let's not talk about other's trade first. Let's discuss about trend first.

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Quoting Ah-Ong

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{quote} How you define bad trade setup ?? Even below ALL criteria meet, just the probability of winning is higher but it can be also a loss trade. {image} {image} I just highlight you missed two criteria that OP stated. There is nothing right or wrong. Just the probability. BTW, I am new for this thread, correct me if I am wrong.

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Quoting neil001

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{quote} Not sure what you want/mean but a trend is defined as a HH and HL for long and reverse for short......and fractal across all TF's...

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Quoting neil001

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{quote} I was in on the EURCAD trade as well - hard to tell what candle you used but that was a good trade result right?? For my trade, I had a 54% chance of going 1:3 and a 62% chance of going 1:2 based on my edge - it went 1:3 for me...are the top two on demo??

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Quoting tonberry

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{quote} It's impressive that you are able to forecast the probabilities with such accuracy considering the number of variables in the Forex markets. Care to elaborate more on how you made your calculations? Just curious that's all.

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Quoting FXShoujo

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For the record, all of this commentary are just jokes. I am not trying to offend anyone. Cheers. {image}{image}{image}

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