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Trading Made Simple(r)

  • #5,981
  • Sep 1, 2020 5:12am Sep 1, 2020 5:12am
Quoting Marcusv007
I've made a couple tweaks that straight off I think have improved the setup, but I will test them out and update if anything...So for any interested parties here we are: 1. I deleted the smTMMS v4 window and added the MACDTrue to the TMMS v7 window (i previously kept the other window because the arrows sometimes would block me from seeing what the SMI line is doing.) 2. I'm replacing the the Bricks for Trends with the Volatility Pivot, R.H was kind enough to share it with me to test against the Bricks. (looks like it will stay and I'll get rid of...
Thanks Marcus. May I know what the setting for the volatility pivot indicator
  • #5,982
  • Sep 1, 2020 5:22am Sep 1, 2020 5:22am
Quoting smartvin
{quote} Thanks Marcus. May I know what the setting for the volatility pivot indicator
No settings were specified but the default that arrives with it appear to work just fine.
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The more you learn, the more you see
  • #5,983
  • Sep 1, 2020 5:46am Sep 1, 2020 5:46am
Quoting Marcusv007
{quote} No settings were specified but the default that arrives with it appear to work just fine. {image}
Thanks Marcus
  • #5,984
  • Edited 7:56am Sep 1, 2020 5:49am | Edited 7:56am
Hi RH, just to say thank you for your great sharing. Strictly following your rules word by word, I now can get profit every day, which is really big to me. Before reading this thread, I had tried a lot, like scalping in M5 (as I thought the lost could be smallest, which finally turned out as a big wrong, LOL), day trading in M15, not to mention "millions" of indicators that looks promising. All just made me feel more confused than yesterday and really exhausted as being anchored on the screen. Your method is much more objective than others I have learned, which is really important for me. I have checked the trades I lose and find that in most cases it is because I failed to follow your entry rules, thinking I could be lucky enough even if the decision was just based on guess.

I have learned your risk management theory "3 Units" which is really inspiring. As I only trade 0.01 standard size (cuz my risk tolerance is very low - $6 AUD/one chicken wrap), I choose to keep 5 trades (size 0.01) running at anytime to control my risk and increase win % (normally 4 of 5 trades were running as expected if following your entry rules strictly). I didn't setup profit targets, just updating 2-bar stop every four hrs (except night) and I prefer to catch as much as possible from each trade.

https://i.imgur.com/QhYtD7r.png
  • #5,985
  • Edited 9:01am Sep 1, 2020 7:54am | Edited 9:01am
Bad trades - Signs you need to close them.

Consolidation candles came and hinted at the reversal SMI made its way towards and across the 0 line
*Macd however didn't and infact stayed on the sell side then more downside came.
If you opened this trade early on arrow alert - by the time you realise the histogram bars are not green, they also start to drop in size, the macd position flat you would possibly be able to close this bad trade in profit. The arrows get us in very early quicker than our brains register the opportunity the rest is to manage the trade and you get to close a bit in profit or with minimal pip loss(bait).


I guess it depends on your trade style and how much room you give your trades to breath and what time frame you're on but I make sure to never get caught in situations where it turns and you start to believe it will come back and before you know it youre -30 pips in the red... because the market managed to get you to want to be right and then emotionally invested in a trade.
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  • #5,986
  • Sep 1, 2020 8:49am Sep 1, 2020 8:49am
Just testing the DAX Marcus setup during my lunchbreak at work and must have hit a lucky one.
+924 added to the demo account in less than 6 mins. Nice one. trade closed when SMI went flat.
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  • #5,987
  • Sep 1, 2020 9:27am Sep 1, 2020 9:27am
Quoting 40PipsAlan
Just testing the DAX Marcus setup during my lunchbreak at work and must have hit a lucky one. +924 added to the demo account in less than 6 mins. Nice one. trade closed when SMI went flat. {image}
Great job. Yeh Dax is about trading at certain market times and catching volatility.

Your image made me realize we dont need the synergies anymore

ps. Opened this trade late but the big candles let on that there will be some good pips to bank to end my day.
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  • #5,988
  • Sep 1, 2020 2:32pm Sep 1, 2020 2:32pm
Quoting mrrobot24815
{quote} Hi there. Can you tell me how to me create "composite 30 3 3 80 50 20 14 34" windows in tradingviews. Thanks
It is just a mesh up using rsi and stochastic code in tradingview.
Full Time Funded Trader. Occasionally drop by FF. Expect a delay in reply.
  • #5,989
  • Sep 1, 2020 3:09pm Sep 1, 2020 3:09pm
Quoting Marcusv007
Update for De30, been a good week tweaking the strategy for this market, progress slowly but surely. R.H Method working even in the ranging /choppy market conditions if you adjust what you're paying attention to for valid entrys and exits (info in my previous posts), the only way is to put time in looking / studying the indicators with price action, you have to train your eye and that means you must get flying hours looking at the instruments in real-time. Tip: I'm watching what 3 time frames are doing simultaneously for my trading now - *since...
Just to check if the De30 is the same "pair" than the Ger30 at my terminal? (mt4), Thanks
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  • #5,990
  • Sep 1, 2020 6:48pm Sep 1, 2020 6:48pm
Quoting MyProfit
{quote} Just to check if the De30 is the same "pair" than the Ger30 at my terminal? (mt4), Thanks {image}
Yes - that's the same thing
  • #5,991
  • Sep 2, 2020 6:10am Sep 2, 2020 6:10am
This mornings movement on the 5min TF 9am CET German market open
based on the arrows to open and close you would have banked 240 pips I closed my trade 150pips in profit.

Opened a short,
No action now but waiting on US Data to move this one, maybe down,might be the start of a reversal but until the indicators confirm this and we see the histogram bars with colour it will be un-confirmed.

MACD is suggesting downside coming!
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  • #5,992
  • Sep 2, 2020 7:55am Sep 2, 2020 7:55am
Quoting Marcusv007
Opened a short, No action now but waiting on US Data to move this one, maybe down,might be the start of a reversal but until the indicators confirm this and we see the histogram bars with colour it will be un-confirmed. MACD is suggesting downside coming! {image}
Thought to try share some of these trades from start and in progress.... True to my trade rules, I had to close and re-open based on the arrows
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  • #5,993
  • Sep 2, 2020 8:08am Sep 2, 2020 8:08am
Rather lock pips in and close trade before Arrow 50pips is good enough for me.
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  • #5,994
  • Sep 2, 2020 8:19am Sep 2, 2020 8:19am
Quoting Marcusv007
Rather lock pips in and close trade before Arrow 50pips is good enough for me. {image}
good stuff Marcus. I saw the arrow down but hesitated on the trade for whatever reason.
  • #5,995
  • Edited 9:48am Sep 2, 2020 9:23am | Edited 9:48am
MACD confirmed that any upside wouldn't be strong as circled in the pic, so just had to wait for the continuation. Managed to bank another 40pips.

Price Action on the 5min and 15 min is not clear... seems perfectly poised for long or short. (however MACD on 5min is not moving and seems happy on the short side atleast for now)

Anyway thats my lot for today...

Trade well.

Cheers.
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  • #5,996
  • Sep 2, 2020 12:57pm Sep 2, 2020 12:57pm
Quoting Marcusv007
This mornings movement on the 5min TF 9am CET German market open based on the arrows to open and close you would have banked 240 pips I closed my trade 150pips in profit. Opened a short, No action now but waiting on US Data to move this one, maybe down,might be the start of a reversal but until the indicators confirm this and we see the histogram bars with colour it will be un-confirmed. MACD is suggesting downside coming! {image}
Hi Marcus,

thank you for your awesome posts, very inspiring.

1- could you please specify in which candle would you enter the trade? (1 = MACD is still negative) or (2 = MACD =0)

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2- about MACD it has different value from what wee see in smTMMS indicator, i think because of the fixed scale. so how do you consider this? the real MACD value? or just the geometric intersection? (for example in the last post you've shared, it has the value of -7.6 while the value on chart is -30 approximately).

Thank you in advance.
sorry for my English.
  • #5,997
  • Sep 2, 2020 1:34pm Sep 2, 2020 1:34pm
Quoting ardalan91
{quote} Hi Marcus, thank you for your awesome posts, very inspiring. 1- could you please specify in which candle would you enter the trade? (1 = MACD is still negative) or (2 = MACD =0) {image} 2- about MACD it has different value from what wee see in smTMMS indicator, i think because of the fixed scale. so how do you consider this? the real MACD value? or just the geometric intersection? (for example in the last post you've shared, it has the value of -7.6 while the value on chart is -30 approximately). Thank you in advance. sorry for my English....
Technically you can open with number 1. Maybe don't worry about the macd its good for reference of strength of price action.

To start just pay attention to the points noted in the image.

Macd is like the weather forecast if it supports the smi in movement it means a big move or decent size move is coming but if it doesn't move with the smi it means be cautious of the move that you may need to close the trade when the move runs out of steam.
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  • #5,998
  • Sep 2, 2020 2:04pm Sep 2, 2020 2:04pm
Quoting Marcusv007
This mornings movement on the 5min TF 9am CET German market open based on the arrows to open and close you would have banked 240 pips I closed my trade 150pips in profit. Opened a short, No action now but waiting on US Data to move this one, maybe down,might be the start of a reversal but until the indicators confirm this and we see the histogram bars with colour it will be un-confirmed. MACD is suggesting downside coming! {image}
Are you using the 5 min timeframe now to trade?

You have the window with RSI, but when the histogram start to be green or red, it shows you also where the RSI is passing the zero line, or is there another reason, like you want to see the RSI in real?

Thank you.
Keansajeweki
  • #5,999
  • Sep 2, 2020 2:17pm Sep 2, 2020 2:17pm
Quoting keansajeweki
{quote} Are you using the 5 min timeframe now to trade? You have the window with RSI, but when the histogram start to be green or red, it shows you also where the RSI is passing the zero line, or is there another reason, like you want to see the RSI in real? Thank you. Keansajeweki
Yes this week I've used the 5min, market conditions vary so the 5 min has been perfect.

Not sure I understand your second question.
Yes that is correct, remember we are always waiting for our trade to be confirmed correct or not. So we want to see it progress to histo bars cloloured and big... with strong RSI across the 0 line. Long as you have those you're good.
The more you learn, the more you see
  • #6,000
  • Sep 2, 2020 3:02pm Sep 2, 2020 3:02pm
Quoting Marcusv007
{quote} Yes this week I've used the 5min, market conditions vary so the 5 min has been perfect. Not sure I understand your second question. Yes that is correct, remember we are always waiting for our trade to be confirmed correct or not. So we want to see it progress to histo bars cloloured and big... with strong RSI across the 0 line. Long as you have those you're good.
I mean that. when the RSI is crossing zero, the histogram gives his first green bar, so you can always see when the cross happens, so you don't need the RSI in a separate window.
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