Rules based system that is profitable on GBPUSD and EURJPY | Page 4 | Forex Factory

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Rules based system that is profitable on GBPUSD and EURJPY

  • #61
  • Jun 15, 2020 4:34pm Jun 15, 2020 4:34pm
LOL..."we have contact"...yep i just got my H4 signal alert about 30min ago, just got back home so gonna see what targets i'm looking for on EJ
  • #62
  • Edited 5:44pm Jun 15, 2020 4:37pm | Edited 5:44pm
1.23750 TP for 250, then wait for reversal or continuation,,,, but if EJ breaks the 125 then looking for targets of 127-130
as you can see on D1 there is plenty room @the top "key is to trade the open space"
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 171 KB
  • #63
  • Jun 15, 2020 5:09pm Jun 15, 2020 5:09pm
so you only trade these two pairs exclusively
  • #64
  • Jun 15, 2020 5:19pm Jun 15, 2020 5:19pm
Quoting pantherrilla
so you only trade these two pairs exclusively
Yep
  • #65
  • Jun 15, 2020 5:30pm Jun 15, 2020 5:30pm
is like you trade only downward crossing and not upward?
  • #66
  • Jun 15, 2020 5:33pm Jun 15, 2020 5:33pm
Quoting youngjosh
is like you trade only downward crossing and not upward?
who are you referring to...we trade both sides of the spektrum, this ain't stocks baby...this FOREX LMAO
  • #67
  • Jun 15, 2020 5:34pm Jun 15, 2020 5:34pm
Quoting mkvy
{quote} Yep
nice i think i will follow you on just trading these two as well
  • #68
  • Jun 15, 2020 6:13pm Jun 15, 2020 6:13pm
Quoting youngjosh
is like you trade only downward crossing and not upward?
up and down
  • #69
  • Jun 15, 2020 6:44pm Jun 15, 2020 6:44pm
Nearly time to join the ride up qith GBPUSD , waiting for hours close
  • #70
  • Jun 15, 2020 7:08pm Jun 15, 2020 7:08pm
coming up on the 1.265, then it's go time, 3rd entry will be activated
  • #71
  • Jun 16, 2020 4:34am Jun 16, 2020 4:34am
How is that following my system? You can start a thread for your system?
  • #72
  • Edited 5:12am Jun 16, 2020 4:47am | Edited 5:12am
Quoting mkvy
Nearly time to join the ride up qith GBPUSD , waiting for hours close

We are looking at upward trend, right crossing, hope am correct? meaning buy
  • #73
  • Jun 16, 2020 5:30am Jun 16, 2020 5:30am
Quoting youngjosh
{quote} We are looking at upward trend, right crossing, hope am correct? meaning buy
i would sit out until after the US news is over take current profits for now and wait for re-entry, according to sources GU will drop back to the 1.25....and EJ is a
short since 4 am
  • #74
  • Jun 16, 2020 9:02am Jun 16, 2020 9:02am
sell on both, only bcuz the US govt is putting money in the economy to save face such eco fakers LOL
  • #75
  • Edited 11:33am Jun 16, 2020 11:16am | Edited 11:33am
Quoting mkvy
{quote} EMA 63 and EMA 13
hi mkvy, good thread.
i just tried this on m15, done backtest for last couples of week, and the result is pretty decent.
it's because i've been trying to find a simple system for intraday with fix rule, so i can trade while doing other work.

i have question:
like your last EURJPY case, what if after your sell position closed (hit SL+), ema13 didn't cross up, meaning downtrend still intact, do you open new sell position?
or you just waiting for ema13 to cross up?
"If you run, you'll only die tired." - Sniper's philosophy
  • #76
  • Jun 16, 2020 11:40am Jun 16, 2020 11:40am
Quoting tomiko
{quote} hi mkvy, good thread. i just tried this on m15, done backtest for last couples of week, and the result is pretty decent. it's because i've been trying to find a simple system for intraday with fix rule, so i can trade while doing other work. i have question: like your last EURJPY case, what if after your sell position closed (hit SL+), ema13 didn't cross up, meaning downtrend still intact, do you open new sell position? or you just waiting for ema13 to cross up?

usually, if i lose a trade, i wont do revenge trade. i wait for next signal meeting the rules.
  • #77
  • Jun 16, 2020 11:57am Jun 16, 2020 11:57am
Quoting mkvy
Targets.. You can look at larger timeframes H4 or Daily.. to see major trendlines o horizontal structure... as long as its 100's of pips its ok to take profit but then you will have to wait for another cross signal. . In this example what happens if the price falls below that trendline.. you would be looking at huge pips... The chances are that the price would bounce up again and create a buy signal but then you may only get 100 pips profit... Sometimes you have to sacrifice less profit for the chance of getting huge profit {image}

How do you explain that price should bounce/breakthrough the level you draw? As I understand the underlying principle is self-fulfilling prophecy, like many other traders draw the same line, expect same that you expect, hence express same reaction. It makes sense for some major historical lows or highs like recent SPX bounce from 3000, but what about random trendlines on lower timeframes?
  • #78
  • Jun 16, 2020 1:00pm Jun 16, 2020 1:00pm
Dear mkvy
What is your position on EURJPY - still long? And if so is it correct to set the stop around 120.14?
  • #79
  • Jun 16, 2020 3:11pm Jun 16, 2020 3:11pm
Quoting cdsaa
{quote} usually, if i lose a trade, i wont do revenge trade. i wait for next signal meeting the rules.
not revenge.
i mean: you have open sell, price going down. then you manage to bag 180pips (either manual close or sl+). you got profit, right.
and then price touch/cross ma63. but ma13 still under ma63. sell condition still inctact.
will you open sell again? (maybe with considering some cs pattern or else)
"If you run, you'll only die tired." - Sniper's philosophy
  • #80
  • Jun 17, 2020 10:56am Jun 17, 2020 10:56am
Quoting tomiko
{quote} hi mkvy, good thread. i just tried this on m15, done backtest for last couples of week, and the result is pretty decent. it's because i've been trying to find a simple system for intraday with fix rule, so i can trade while doing other work. i have question: like your last EURJPY case, what if after your sell position closed (hit SL+), ema13 didn't cross up, meaning downtrend still intact, do you open new sell position? or you just waiting for ema13 to cross up?
Good question... If stoploss hit but continues down --- Do nothing... Wait for another cross.
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