Disliked{image}Am I finally on the right track? Entered near 200 ema at daily open level. rsi bearish. A scalp with sl above 200 ema, tp around 10 pips.Ignored
Roadmap - A Way To Read Markets
- #4,342
- Mar 8, 2021 11:30am Mar 8, 2021 11:30am
- Joined Apr 2020 | Status: Daylight Roadmapper | 1,371 Posts
- #4,348
- Mar 9, 2021 5:55am Mar 9, 2021 5:55am
- Joined Apr 2020 | Status: Daylight Roadmapper | 1,371 Posts
https://www.forexfactory.com/thread/...3#post13311913
Barraka has kindly updated his TrendStrengthRSI indicator with a few cool new features - check it out
Barraka has kindly updated his TrendStrengthRSI indicator with a few cool new features - check it out
Hey Roadmappers,
I've been really enjoying my trading these last couple of months after making some changes.
I had to ask myself how come I could do so well backtesting but perform so badly in real time. A significant answer for me was the timeframe I was trading but it was shocking how long it took me to realise that.
Scrolling through a chart while backtesting gave me a 'feel' for the market that I didn't get from viewing snap shots. I work full time and can only view the charts sporadically. I was trading on the 1H charts after trying even shorter time frames. Switching to 4H charts has made a massive improvement.
Of course, that's really slowed things down and I've had a couple of trades open for over a month. At first, it was difficult to accept how slow things were...my risk on each trade has remained the same, but now the results are speaking for themselves and slow and steady seems to be winning at last.
To spice things up a bit, I've recently started experimenting with 1:1 RR 15min set and forget trades. I did not really expect this to work well and it may well fail me soon but so far I have been surprised by the win percentages. I've tried a fair bit of backtesting too.
I'm mainly looking at GBP pairs pre London open before I start work. If I see the 8Ema channel rejecting the 55 channel then I'm interested, whilst taking into account other factors we have learnt through this thread.
In the above example I could have held on for more profit if I was monitoring but I ain't, so I'm happy with what I can get.
1:1 set and forget trades feel wrong to me, like it's not going to work but so far, it's going okay and gives me something a bit faster for my fix
.
I've been really enjoying my trading these last couple of months after making some changes.
I had to ask myself how come I could do so well backtesting but perform so badly in real time. A significant answer for me was the timeframe I was trading but it was shocking how long it took me to realise that.
Scrolling through a chart while backtesting gave me a 'feel' for the market that I didn't get from viewing snap shots. I work full time and can only view the charts sporadically. I was trading on the 1H charts after trying even shorter time frames. Switching to 4H charts has made a massive improvement.
Of course, that's really slowed things down and I've had a couple of trades open for over a month. At first, it was difficult to accept how slow things were...my risk on each trade has remained the same, but now the results are speaking for themselves and slow and steady seems to be winning at last.
To spice things up a bit, I've recently started experimenting with 1:1 RR 15min set and forget trades. I did not really expect this to work well and it may well fail me soon but so far I have been surprised by the win percentages. I've tried a fair bit of backtesting too.
I'm mainly looking at GBP pairs pre London open before I start work. If I see the 8Ema channel rejecting the 55 channel then I'm interested, whilst taking into account other factors we have learnt through this thread.
In the above example I could have held on for more profit if I was monitoring but I ain't, so I'm happy with what I can get.
1:1 set and forget trades feel wrong to me, like it's not going to work but so far, it's going okay and gives me something a bit faster for my fix
.
I was backtesting US30 on 1 minute for last two weeks and after I finished wanted to try out something on a larger scale to consolidate and improve the results. So I was about to back test from 2019-03, but what I noticed is that comprsi with fast 1m indice settings don't go that far, even with the bar setting set to required amount
It just stays at 0
If it works for the last few weeks and doesn't for anything before I noticed that in between there's like this fading kind of.
I assume I backtest without fast rsi then? And only include fast rsi in forward testing?
It just stays at 0
If it works for the last few weeks and doesn't for anything before I noticed that in between there's like this fading kind of.
I assume I backtest without fast rsi then? And only include fast rsi in forward testing?
- #4,358
- Mar 15, 2021 7:39am Mar 15, 2021 7:39am
In the above example I could have held on for more profit if I was monitoring but I ain't, so I'm happy with what I can get. 1:1 set and forget trades feel wrong to me, like it's not going to work but so far, it's going okay and gives me something a bit faster for my fix
If I code, I can't trade...
- #4,359
- Mar 15, 2021 8:36am Mar 15, 2021 8:36am
- Joined Sep 2006 | Status: Trader | 10,704 Posts
Hello people.
I thought I would post bad chart and a good chart.
My dax morning was dreadful despite starting well. Most of those losers ( 'X' marks the spots) could have been avoided if I had used horizontal speed lines and the 'Look Left' lines properly. lesson learnt - again.
But the afternoon Dax ( USA open) was much better as I now pay attention to what I tell everyone else to do - follow Laura's examples.
EDIT: Shown are short, long, and short trades
UPDATE: Closed this short and done for the day. Not going to risk such a nice gain after the horror of this morning
I thought I would post bad chart and a good chart.
My dax morning was dreadful despite starting well. Most of those losers ( 'X' marks the spots) could have been avoided if I had used horizontal speed lines and the 'Look Left' lines properly. lesson learnt - again.
But the afternoon Dax ( USA open) was much better as I now pay attention to what I tell everyone else to do - follow Laura's examples.
EDIT: Shown are short, long, and short trades
UPDATE: Closed this short and done for the day. Not going to risk such a nice gain after the horror of this morning
every Saint has a past. Every Sinner has a Future