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lets develop a system which is very very simple but effective. 7 replies

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Attachments: A very simple system - trade with arrow
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A very simple system - trade with arrow

gone short with tight stop
EDit: trade closed at b/e
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the cautious seldom err....C
gone short
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the cautious seldom err....C
going long here
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the cautious seldom err....C
Quoting pips29
going long here {image}
taken 60% off and stop moved to b/e .,my target is also moved higher
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the cautious seldom err....C
Quoting pips29
gone short {image}
taken some profits and moved stop to b/e
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the cautious seldom err....C
Quoting pips29
level has been broken hopefully with a close in order for further progress to my initial target,,,in any case I have taken some out for more profit {image}
coming close to my target,,a bit of R here
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the cautious seldom err....C
i don't see any arrows in my template
Quoting pips29
going long here {image}
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My target was at 1.2085. There was strong resistance. I closed when the price did not reach 2 pips and started to reverse.
Trading has been and always will be, a hard way to make an easy living.
Quoting Boobligoom
{quote} {image} My target was at 1.2085. There was strong resistance. I closed when the price did not reach 2 pips and started to reverse.
good for you ,mine ended as shown on chart
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the cautious seldom err....C
this pair is in a big downtrend and I have been looking at opportunity to short, won't be surprised price gets down to the level marked on my chart
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the cautious seldom err....C
going long here
EDit: closed b/e
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the cautious seldom err....C
Quoting pips29
going long here EDit: closed b/e {image}
Took 15 pips.
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Trading has been and always will be, a hard way to make an easy living.
@pips29 Are you using ADR indicator again? Somewhere in the flow, you said that it distracts you from potential trend continuation.
Trading has been and always will be, a hard way to make an easy living.
Quoting Boobligoom
@pips29 Are you using ADR indicator again? Somewhere in the flow, you said that it distracts you from potential trend continuation.
I have been trying to catch the timing of retracement/reversal and knowing whether price has already reached the limit helps in this respect but when riding the trend it's better to ignore it until price has exhausted. I will only post trend trading charts here. Everyday we have trends and today there were many with GBP pairs
the cautious seldom err....C
The entrance was good, but my greed does not allow me to consistently earn and take a little profit. I have been trading medium-term for a long time, so 15 pips profit seems small to me. also, I think I need to trade after the London session opens. @pips what mistakes do you think I'm making?
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Trading has been and always will be, a hard way to make an easy living.
Quoting Boobligoom
The entrance was good, but my greed does not allow me to consistently earn and take a little profit. I have been trading medium-term for a long time, so 15 pips profit seems small to me. also, I think I need to trade after the London session opens. @pips what mistakes do you think I'm making?{image}
If I'm not mistaken your entry was after LO and price was coming near the lower limit of the adr. I would be wary and would have taken some profits at that time and see the reaction and in this case price rejected this level. You could at least lock your trade in at b/e so you won't lose. 15 pips is good and to many traders they can live on 15 pips/day..if you had taken the 15 pips and went long with the set up later and ride the move up to the next pivot or adr high I believe you would have harvested at least 30 pips conservatively..remember hitting 3 x 15 pips a day is easier than 1 x 50 pips especially for Monday with no important data release
the cautious seldom err....C
Quoting pips29
{quote} If I'm not mistaken your entry was after LO and price was coming near the lower limit of the adr. I would be wary and would have taken some profits at that time and see the reaction and in this case price rejected this level. You could at least lock your trade in at b/e so you won't lose. 15 pips is good and to many traders they can live on 15 pips/day..if you had taken the 15 pips and went long with the set up later and ride the move up to the next pivot or adr high I believe you would have harvested at least 30 pips conservatively..remember...
Thanks Eric, good words .. LO on my terminal opens at 10-00. My GMT 2
Trading has been and always will be, a hard way to make an easy living.
Quoting Boobligoom
The entrance was good, but my greed does not allow me to consistently earn and take a little profit. I have been trading medium-term for a long time, so 15 pips profit seems small to me. also, I think I need to trade after the London session opens. @pips what mistakes do you think I'm making?{image}
your entry is after LO
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the cautious seldom err....C
Quoting pips29
{quote} your entry is after LO {image}
Yes, you are right. I confused this trade with the previous one. This time I waited for the opening of London). I opened the trade so many times before the LO and then the price ran in the opposite direction ... and I got a loss. This time I thought I had made a mistake again.
Trading has been and always will be, a hard way to make an easy living.
Long NU, tight stop
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the cautious seldom err....C
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