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Trading Made Simple 151,866 replies

Trading Made Simple the right way, and other trading lessons 334 replies

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Trading Made Simple(r)

  • #6,561
  • Edited 9:26am Mar 9, 2021 8:34am | Edited 9:26am
Quoting etheldreda
No fear, no greed. When most of my floating pairs suddenly changed direction at once, just follow the rules. Close the positions as per the rules. Floating pips are nothing more than a virtual numbers. But to be honest, I can take this easily because this is demo account. From floating 280USD to realized 25USD. In real life I may cry a bit {image}
What every trader MUST LEARN TO ACCEPT is...

You can't buy the bottom.

You can't sell the top.

The best you can do is just take a piece of the middle.

I lost more money in the last 2 weeks than I paid for my first house. BUT, I am still up 400% this year, so nobody is going to feel bad for me...other than me.

*How I lost that much is because I am RELIGIOUSLY following a proprietary indicator that I created, position trading stocks. And, right now, I am FLAT, because that's what the indicator (and a few other things) are all telling me to do right now.

I'll give everyone a little taste of part of it...

Attached Image (click to enlarge)
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Always a Student, Never a Master - Emulate What Works
  • #6,562
  • Mar 9, 2021 9:32am Mar 9, 2021 9:32am
Quoting RobinHood
{quote} I have not tried because I for many years I created and coded mechanical trading systems and that no longer appeals to me, because... It's like the guy that invented Roulette, Blaise Pascal, he committed suicide because he invented a game that he couldn't beat. I beat the game with many of my trading systems, but it became an overwhelming obsession to find and code the "Holy Grail"...and at some point you realize that it's like chasing a rainbow to find the pot of gold at the end of it. It can't be done. *But I do think purely mechanical...

so you don't advise me to try and code it? the rules of your system are purely mechanical? i don't' want a holy grail system just a somewhat profitable system in the long run in terms of return and risk. so in your experience do you encourage me to give it a try?
  • #6,563
  • Mar 9, 2021 9:48am Mar 9, 2021 9:48am
Quoting benadil
{quote} so you don't advise me to try and code it? the rules of your system are purely mechanical? i don't' want a holy grail system just a somewhat profitable system in the long run in terms of return and risk. so in your experience do you encourage me to give it a try?
The rules are not purely mechanical. Here's what I wrote on Page 1 of this thread:

"What you must understand is that what's presented, as it's presented, is NOT a trading system.

A system has concrete rules with no variables. Methods don't. What I am presenting are trading methods, tips, and suggestions. Multiple trading methods about ways to enter and exit trades (with others likely to follow).

The only concrete rules there are, are the ones that you decide to make and follow."

I see no harm in coding what I have presented if that's what you want to do. Just keep in mind, there is no one right way to do it.

*Now some readers here will not like hearing this, BUT, do you honestly think that if I had a purely mechanical trading system that makes tons of money that I would have shared it for free on this forum? I am simply trying to help others here by presenting methods that may help them progress forward as traders. You know, it's the "teach them to fish, not give them a fish" type of thing.
Always a Student, Never a Master - Emulate What Works
  • #6,564
  • Mar 9, 2021 10:04am Mar 9, 2021 10:04am
Quoting RobinHood
{quote} What every trader MUST LEARN TO ACCEPT is... You can't buy the bottom. You can't sell the top. The best you can do is just take a piece of the middle. I lost more money in the last 2 weeks than I paid for my first house. BUT, I am still up 400% this year, so nobody is going to feel bad for me...other than me. *How I lost that much is because I am RELIGIOUSLY following a proprietary indicator that I created, position trading stocks. And, right now, I am FLAT, because that's what the indicator (and a few other things) are all telling me to...
The best you can do is just take a piece of the middle.

True. I am working on developing my mindset. Tx, RobinHood!
  • #6,565
  • Mar 9, 2021 10:21am Mar 9, 2021 10:21am
Quoting RobinHood
{quote} The rules are not purely mechanical. Here's what I wrote on Page 1 of this thread: "What you must understand is that what's presented, as it's presented, is NOT a trading system. A system has concrete rules with no variables. Methods don't. What I am presenting are trading methods, tips, and suggestions. Multiple trading methods about ways to enter and exit trades (with others likely to follow). The only concrete rules there are, are the ones that you decide to make and follow." I see no harm in coding what I have presented if that's what...
thanks, what I meant is taking the rules tweeking them example for a 4 hour chart setups i may add a 50 sma or ema to take into consideration the daily trend, also tweeking multiple exits conditions .... that kind of stuff
  • #6,566
  • Mar 9, 2021 10:40am Mar 9, 2021 10:40am
Quoting benadil
{quote} thanks, what I meant is taking the rules tweeking them example for a 4 hour chart setups i may add a 50 sma or ema to take into consideration the daily trend, also tweeking multiple exits conditions .... that kind of stuff
You should try coding in anything that appeals to you. One never knows what will work until they try it.
Always a Student, Never a Master - Emulate What Works
  • #6,567
  • Mar 9, 2021 1:21pm Mar 9, 2021 1:21pm
Quoting RobinHood
{quote} I have not tried because I for many years I created and coded mechanical trading systems and that no longer appeals to me, because... It's like the guy that invented Roulette, Blaise Pascal, he committed suicide because he invented a game that he couldn't beat. I beat the game with many of my trading systems, but it became an overwhelming obsession to find and code the "Holy Grail"...and at some point you realize that it's like chasing a rainbow to find the pot of gold at the end of it. It can't be done. *But I do think purely mechanical...
Beautiful, I love it, best way to go, real brain food.
  • #6,568
  • Mar 9, 2021 3:07pm Mar 9, 2021 3:07pm
Quoting benadil
{quote} thanks, what I meant is taking the rules tweeking them example for a 4 hour chart setups i may add a 50 sma or ema to take into consideration the daily trend, also tweeking multiple exits conditions .... that kind of stuff
I created a EA that took crossover trades based on some of the rules on page 1 (this gave decent results) and then I optimized it by k-ratio to improve the curve. Below is the result of trades on GBPUSD over 7 years from 2014 to 2021 trading on the H4 timeframe. I only ever trade this system manually though. Just some food for thought....
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  • #6,569
  • Mar 9, 2021 3:09pm Mar 9, 2021 3:09pm
Quoting tonberry
{quote} I created a EA that took crossover trades based on some of the rules on page 1 (this gave decent results) and then I optimized it by k-ratio to improve the curve. Below is the result of trades on GBPUSD over 7 years from 2014 to 2021 trading on the H4 timeframe. I only ever trade this system manually though. Just some food for thought.... {image}
thank you very much indeed tonberry, doing this will give you confidence trading it manually I think
  • #6,570
  • Mar 9, 2021 6:19pm Mar 9, 2021 6:19pm
One pair that 1/3 lot size reached TP1, SL for the other 2/3 lot size moved to BE yesterday while other pairs change direction/retrace(?). Yeay
Attached Image (click to enlarge)
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  • #6,571
  • Mar 10, 2021 2:50pm Mar 10, 2021 2:50pm
Quoting tonberry
{quote} I created a EA that took crossover trades based on some of the rules on page 1 (this gave decent results) and then I optimized it by k-ratio to improve the curve. Below is the result of trades on GBPUSD over 7 years from 2014 to 2021 trading on the H4 timeframe. I only ever trade this system manually though. Just some food for thought.... {image}
Great and good to know. Did you filter with higher time frame. I think that's a key. I also would like to try through an EA H1/H4, H4/D1, H8/W1 and D1/W1 with various currencies and instruments.
  • #6,572
  • Mar 10, 2021 3:49pm Mar 10, 2021 3:49pm
On the chart I attached there is no HTF filter, just pure H4. I did build HTF filters and found that for some pairs trading in the direction of daily was better, for others it was the weekly and for some no HTF filtering at all was best. The main benefit of automated testing is being able decide how you are going to trade each pair.
  • #6,573
  • Mar 10, 2021 3:54pm Mar 10, 2021 3:54pm
Quoting tonberry
On the chart I attached there is no HTF filter, just pure H4. I did build HTF filters and found that for some pairs trading in the direction of daily was better, for others it was the weekly and for some no HTF filtering at all was best. The main benefit of automated testing is being able decide how you are going to trade each pair.
I got you, Thanks Tonberry good luck with your EA :-)
  • #6,574
  • Mar 11, 2021 1:38pm Mar 11, 2021 1:38pm
Quoting tonberry
On the chart I attached there is no HTF filter, just pure H4. I did build HTF filters and found that for some pairs trading in the direction of daily was better, for others it was the weekly and for some no HTF filtering at all was best. The main benefit of automated testing is being able decide how you are going to trade each pair.
My back testing shows the same thing...so in this case, logic should override.

Streams flow into rivers, and rivers flow into oceans. The larger the body of water, the more powerful the flow.

Therefore, the higher the time frame, the more powerful the move.
Always a Student, Never a Master - Emulate What Works
  • #6,575
  • Mar 11, 2021 7:01pm Mar 11, 2021 7:01pm
Quoting RobinHood
{quote} My back testing shows the same thing...so in this case, logic should override. Streams flow into rivers, and rivers flow into oceans. The larger the body of water, the more powerful the flow. Therefore, the higher the time frame, the more powerful the move.
Real wisdom, I love it,
  • #6,576
  • Mar 12, 2021 10:32am Mar 12, 2021 10:32am
This is my Fri-nite demo account state:
1. additional 2.09% calculated against the initial 5,000 account opening balance
2. floating EUR/JPY pair, SL already move to BE

Note: each position opened with 3 identic lot size and total risk of 1%.

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Attached Image (click to enlarge)
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  • #6,577
  • Mar 12, 2021 1:21pm Mar 12, 2021 1:21pm
@Robinhood
Hey robin tried out the system for the fourth week now straight killing this week again and increased my account over 100 percent in one month alone really loving the system. Quick questions is there any better entry so far I am catching a 1:1 or 1:1.5 rr I would love to have a tighter stop-loss and greater risk reward ratio. Thanks again!
  • #6,578
  • Mar 12, 2021 3:51pm Mar 12, 2021 3:51pm
Quoting tonberry
{quote} I created a EA that took crossover trades based on some of the rules on page 1 (this gave decent results) and then I optimized it by k-ratio to improve the curve. Below is the result of trades on GBPUSD over 7 years from 2014 to 2021 trading on the H4 timeframe. I only ever trade this system manually though. Just some food for thought.... {image}
As MT4 can merely do in-sample backtesting, I would be hard pressed to have expectations that conform to your equity curve. MT4 is not a backtesting platform...

cheers
Cognoscio
If I code, I can't trade...
  • #6,579
  • Mar 13, 2021 9:41am Mar 13, 2021 9:41am
Quoting JV1423
@Robinhood Hey robin tried out the system for the fourth week now straight killing this week again and increased my account over 100 percent in one month alone really loving the system. Quick questions is there any better entry so far I am catching a 1:1 or 1:1.5 rr I would love to have a tighter stop-loss and greater risk reward ratio. Thanks again!
First of all...Congratulations!

I don't have anything new to add. However, while I fully appreciate your desire to improve your entries (and your exits I presume), any seasoned trader would tell you that if you can double your account in a month by only taking reasonable risks, you shouldn't change anything you are doing because in 30 months you would be ridiculously wealthy.

For example, if you took just a single penny and doubled it every day, by day 30, you would have$5,368,709.12.

Day 1: $.01
Day 2: $.02
Day 3: $.04
Day 4: $.08
Day 5: $.16
Day 6: $.32
Day 7: $.64
Day 8: $1.28
Day 9: $2.56
Day 10: $5.12
Day 11: $10.24
Day 12: $20.48
Day 13: $40.96
Day 14: $81.92
Day 15: $163.84
Day 16: $327.68
Day 17: $655.36
Day 18: $1,310.72
Day 19: $2,621.44
Day 20: $5,242.88
Day 21: $10,485.76
Day 22: $20,971.52
Day 23: $41,943.04
Day 24: $83,886.08
Day 25: $167,772.16
Day 26: $335,544.32
Day 27: $671,088.64
Day 28: $1,342,177.28
Day 29: $2,684,354.56
Day 30: $5,368,709.12
Always a Student, Never a Master - Emulate What Works
  • #6,580
  • Mar 13, 2021 5:33pm Mar 13, 2021 5:33pm
Quoting RobinHood
{quote} First of all...Congratulations! I don't have anything new to add. However, while I fully appreciate your desire to improve your entries (and your exits I presume), any seasoned trader would tell you that if you can double your account in a month by only taking reasonable risks, you shouldn't change anything you are doing because in 30 months you would be ridiculously wealthy. For example, if you took just a single penny and doubled it every day, by day 30, you would have$5,368,709.12. Day 1: $.01 Day 2: $.02 Day 3: $.04 Day 4: $.08 Day 5:...
Yea one thing I’ve been doing is entering on the 4 hour time frame with stoploss two candles back either highest or lowest depending if I am selling or buying. Then what happen is that when the trades go into high profits I use the one hour time frame to adjust my stoploss base on the pure naked forex price action either below the recent higher low or the lower high. What I have been noticing is that whenever the 1 hour time frame goes past my adjusted stop loss and all indicators showing opposite direction on the 1 hour the four hour will eventually have 2 color changes so that means that I can get out earlier instead of relying on the four hour to exit I can exit on the color changes on the 1 hour and man that gives me more profit
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