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Simple Monday-Tuesday System (attached calculator)

  • #2,321
  • Jan 7, 2021 6:02pm Jan 7, 2021 6:02pm
Hello,
There are problems with version BO_EA .... V_10_3 for the BreakEven function.
On the strategy tester it works well but live often the stopLoss is brought back to the entry point as soon as the order is placed and of course it is executed immediately.
So don't use it anymore and I put here version V_8_2 with range limits.
Sorry for not being able to resolve this issue at this time.
Attached File(s)
File Type: mq4 BO_EA_H1_Risk_SL_One Day_time slots_Big_V_8_2.mq4   13 KB | 444 downloads
File Type: ex4 BO_EA_H1_Risk_SL_One Day_time slots_Big_V_8_2.ex4   30 KB | 372 downloads
File Type: tpl BO_EA_H1_Risk_SL_One Day_time slots_Big_V_8_2.tpl   219 KB | 353 downloads
  • #2,322
  • Edited 9:22am Jan 16, 2021 8:19am | Edited 9:22am
i came across through this video,it has similar concept as looking mon tues range and trade with order flow.

Inserted Video

watch this too,very intersting.
Inserted Video
  • #2,323
  • Jan 20, 2021 5:29am Jan 20, 2021 5:29am
Hello faithful followers, hope you got some easy break out PIPS



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  • #2,324
  • Jan 20, 2021 3:39pm Jan 20, 2021 3:39pm
Faithful followers, you must watch the videos posted just above, thanks T4Trade

They hold the key of how to view the price action on Monday and Tuesday

Here are the basics on this chart, and the outcome +1%



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  • #2,325
  • Jan 20, 2021 6:10pm Jan 20, 2021 6:10pm
Same price action, anyone seeing this structure?

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  • #2,326
  • Jan 20, 2021 6:26pm Jan 20, 2021 6:26pm
Real-time trade entry, see how that work, weekly long bias, Mon Tue lows, breakout

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  • #2,327
  • Jan 20, 2021 6:31pm Jan 20, 2021 6:31pm
Quoting Erebus
Real-time trade entry, see how that work, weekly long bias, Mon Tue lows, breakout {image}
hello
tell us more about it please
i dont understand when you enter the trade,, is the wednesday or today at ASIA?
  • #2,328
  • Jan 20, 2021 7:08pm Jan 20, 2021 7:08pm
Quoting ordosgoitia
{quote} hello tell us more about it please i dont understand when you enter the trade,, is the wednesday or today at ASIA?
What part of REAL TIME didn't you understand?

Check your chart NOW

Here is 2 the same, JPY is weak, missed them but maybe still pips to go

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  • #2,329
  • Jan 20, 2021 7:18pm Jan 20, 2021 7:18pm
Hard Quiz: Buy or Sell?

For bonus points: Why?

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  • #2,330
  • Jan 20, 2021 7:59pm Jan 20, 2021 7:59pm
Quoting Erebus
Hard Quiz: Buy or Sell? For bonus points: Why? {image}
I would sell because of the daily chart.
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  • #2,331
  • Jan 21, 2021 7:31am Jan 21, 2021 7:31am
Quoting Erebus
Hard Quiz: Buy or Sell? For bonus points: Why? {image}
According to your reasoning weekly bias is down but on the other hand Tuesday has made a higher high than Monday, therefore it invalidates the short entry.
Regards
  • #2,332
  • Jan 21, 2021 4:53pm Jan 21, 2021 4:53pm
Quoting howard
{quote} According to your reasoning weekly bias is down but on the other hand, Tuesday has made a higher high than Monday, therefore it invalidates the short entry.
Why would Tuesday high do that? Maybe going below the weekly open invalidates the high.

We are keen to have retracements.

It did break lower but now back again, very neutral for now, maybe a big finish on Friday.

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  • #2,333
  • Jan 22, 2021 4:38am Jan 22, 2021 4:38am
How many watched that video?

There were some gems in there for sure?

The weekly bias, very obvious, logical, and sensible.

Did anyone hear the advice to Enter 30 pips away from the Weekly Open?

Listen again, the video should start at that point, 2 minutes, you will hear it.

Inserted Video
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  • #2,334
  • Jan 22, 2021 4:43am Jan 22, 2021 4:43am
To continue from the last post, let's look at a pair known to be difficult to get any pips from, EURCAD

First, we need the BIAS from the weekly chart, last 3 weeks are down, so let's say that we are looking for a SELL

Sell in the current week

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  • #2,335
  • Jan 22, 2021 5:03am Jan 22, 2021 5:03am
And to finish, go to the 1-hour chart, you can see the exact price action that he says to look for, which,

Is, a move higher on Monday and maybe higher on Tuesday, always knowing where the OPEN line is

He says for an experiment, just Sell (or Buy) 30 pips away from the Open and 180 pips stop loss

I say, let's try an entry 0.5 of ADR(20) from the Open price, stop loss at 1.0 ADR(20)

For the EURCAD, ADR(20) is 96 pips, so round up to 100, half is 50 pips for the Entry level

And Take Profit at 2 to 1, don't be greedy, easiest pips you will ever find

So entry could be either Monday or Tuesday, Wednesday is payday!

Any questions?

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  • #2,336
  • Jan 22, 2021 1:26pm Jan 22, 2021 1:26pm
In my opinion the hard part of this method is to get the weekly bias right.
What criteria are we to use to gauge the weekly trend? That is where it becomes subjective, is it direction of the previous week's bar, two previous bars, a moving average?
Regards
  • #2,337
  • Jan 22, 2021 2:37pm Jan 22, 2021 2:37pm
Quoting howard
In my opinion the hard part of this method is to get the weekly bias right. What criteria are we to use to gauge the weekly trend? That is where it becomes subjective, is it direction of the previous week's bar, two previous bars, a moving average?
If you are having a hard time finding the trend in a pair then you should just move on to another pair where the trend is easily defined
  • #2,338
  • Jan 22, 2021 5:41pm Jan 22, 2021 5:41pm
Quoting howard
In my opinion the hard part of this method is to get the weekly bias right. What criteria are we to use to gauge the weekly trend? That is where it becomes subjective, is it direction of the previous week's bar, two previous bars, a moving average?
Why is it hard? No moving average mentioned, my best guess is about 3 to 4 weeks same direction, use that for a start; if it's mixed, move to the next pair.

If the current week is opposite of your Weekly Bias, you won't see the price action that you want to see, therefore there won't be any trade setups in the direction you want; you can't lose.

Name a pair and get a free analysis, I like a challenge

And glad for the feedback, thanks
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  • #2,339
  • Jan 22, 2021 6:11pm Jan 22, 2021 6:11pm
Quoting howard
{quote} According to your reasoning weekly bias is down but on the other hand Tuesday has made a higher high than Monday, therefore it invalidates the short entry.
Please watch (LISTEN) the video again, from 18:30 >

Inserted Video


That is a Bullish example, reverse for your question about Bearish

He's got 20+ years of experience, so it's not my reasoning, it's what I see on the chart exactly what he is teaching!

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  • #2,340
  • Jan 22, 2021 6:31pm Jan 22, 2021 6:31pm
Quoting howard
{quote} According to your reasoning weekly bias is down but on the other hand Tuesday has made a higher high than Monday, therefore it invalidates the short entry.
In fact, love the retracements, it's exactly what is needed.

UPDATE: Here is the Bearish view, compare what he says with the chart I posted, see any difference?

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