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A very simple system - trade with arrow

  • #8,161
  • May 22, 2021 4:57am May 22, 2021 4:57am
Giedrius, I notice you like trading UY..no interest in cross pairs like EA,GA,EN and GN..the loonie is a good pair to trade too
the cautious seldom err....C
  • #8,162
  • May 22, 2021 5:03am May 22, 2021 5:03am
On the loonie if price drops below 1.19 then a further few hundred pips drop can be expected
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADMonthly.png Size: 66 KB
the cautious seldom err....C
  • #8,163
  • May 22, 2021 5:07am May 22, 2021 5:07am
Quoting Giedrius
{quote} I'll keep in mind this about NY open
I'm talking about sessions open and not only NYO
the cautious seldom err....C
  • #8,164
  • May 22, 2021 5:42am May 22, 2021 5:42am
Quoting pips29
Giedrius, I notice you like trading UY..no interest in cross pairs like EA,GA,EN and GN..the loonie is a good pair to trade too
problem is I have too high spreads on cross pairs like 4,5,6 pips, if you trade hourly or daily is alright but for 5, 15min they are just to high.
There are plenty opportunities and on couple pairs just if I could identify them at right time right spot I think this can be plenty to go with already.
No, I understood you about sessions open, thanks
Another question what I what to ask, if you trade 5min. what higher time you are watching to support your decisions, is 4H not to high and maybe better 1H.
Would you try to explain and if you can to show, at what point something triggers your interest, how stars have to align for you to pull the trigger ?. Maybe candle being at special position, indicators showing special conditions coming etc. If I'm not asking too much!? Thank you eric for your time
  • #8,165
  • May 22, 2021 6:55am May 22, 2021 6:55am
Quoting Giedrius
{quote} problem is I have too high spreads on cross pairs like 4,5,6 pips, if you trade hourly or daily is alright but for 5, 15min they are just to high. There are plenty opportunities and on couple pairs just if I could identify them at right time right spot I think this can be plenty to go with already. No, I understood you about sessions open, thanks Another question what I what to ask, if you trade 5min. what higher time you are watching to support your decisions, is 4H not to high and maybe better 1H. Would you try to explain and...
I check the daily to look for S and R and if there's room for price to move up on the daily I will take a long when the set up is there on M5. there's an indicator called pips 29 which shows the mtf cci indicator. I'm using the 50 cci as the basis for the trend..you can choose whatever value you like but I'm sticking with the 50..as with all mtf indicators when all tf align then the entry is good till one of them changes colour...my preference is to get the next 2 htf with the same colour to enter but it's common I enter when the tf I'm on shows the correct colour and not bothering with the rest..any trend reversal will start with the ltf first and so the htf will take time to turn to the same colour as the colour of your entry....If I were you I would not worry too much over the htf...the important thing is to enter correctly on the tf you are using,,if it's telling you to go short don't go long just because the htf is showing long..if you enter against the trend and set up of the tf (M5) then you have started off on the wrong foot. When you enter correctly, then you start off being right until the market proves otherwise. I will explain more about the entry when I trade this Monday
Attached Image (click to enlarge)
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the cautious seldom err....C
  • #8,166
  • May 22, 2021 7:11am May 22, 2021 7:11am
from the chart you can see the set up initially...the set up later came with the mtf cci if you waited for htf alignment
EDit: let me add this , when price is trending you will be well rewarded but if it's not you will probably be stopped out at b/e..enter correctly and you will not look at a loss for a long time
Attached Image (click to enlarge)
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the cautious seldom err....C
  • #8,167
  • May 22, 2021 7:21am May 22, 2021 7:21am
Quoting pips29
from the chart you can see the set up initially...the set up later came with the mtf cci if you waited for htf alignment EDit: let me add this , when price is trending you will be well rewarded but if it's not you will probably be stopped out at b/e..enter correctly and you will not look at a loss for a long time {image}
Thank eric for all your explanatin and time, appreciate
  • #8,168
  • May 22, 2021 7:26am May 22, 2021 7:26am
Quoting Giedrius
{quote} Thank eric for all your explanatin and time, appreciate
damn! I fell into your trap Giedrius, I already posted I'm not a guru and you made me behave like one, not letting you trap me again
the cautious seldom err....C
  • #8,169
  • May 22, 2021 7:36am May 22, 2021 7:36am
Quoting pips29
{quote} damn! I fell into your trap Giedrius, I already posted I'm not a guru and you made me behave like one, not letting you trap me again
no eric, I don't think you are guru, sorry to disappoint you, but I think you are guy who has lots of experience and knowledge
and if you don't mind to share that is great we just need to try absorb it and use it, but not always is easy. Sometimes what you see I don't see it!!!
  • #8,170
  • May 22, 2021 7:46am May 22, 2021 7:46am
Quoting Giedrius
{quote} no eric, I don't think you are guru, sorry to disappoint you, but I think you are guy who has lots of experience and knowledge and if you don't mind to share that is great we just need to try absorb it and use it, but not always is easy. Sometimes what you see I don't see it!!!
thanks Giedrius, in ff gurus are the ones who can't trade ( I read this in many threads)..it's good you don't see what I see cause I don't want you looking at my wife's naked body
the cautious seldom err....C
  • #8,171
  • May 22, 2021 7:52am May 22, 2021 7:52am
what do you think about this article? https://www.forexfactory.com/news/10...ued-completely
the cautious seldom err....C
  • #8,172
  • May 22, 2021 8:03am May 22, 2021 8:03am
Quoting pips29
what do you think about this article? https://www.forexfactory.com/news/10...ued-completely
Swiss don't want to blink first
  • #8,173
  • May 24, 2021 10:19am May 24, 2021 10:19am
took this trade but it didn't work out
Attached Image (click to enlarge)
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the cautious seldom err....C
  • #8,174
  • May 28, 2021 9:22am May 28, 2021 9:22am
This was my trade for today+25. Closed half position, but then remembered is Friday and do not be to greedy closed second half.
And looks like I did well to close.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM5.png Size: 82 KB
  • #8,175
  • May 28, 2021 11:05am May 28, 2021 11:05am
Quoting Giedrius
This was my trade for today+25. Closed half position, but then remembered is Friday and do not be to greedy closed second half. And looks like I did well to close. {image}
nicely done, Giedrius..I closed shop early today..it's always good to take profits quickly on Friday as price is fickle on this day
the cautious seldom err....C
  • #8,176
  • May 28, 2021 11:20am May 28, 2021 11:20am
Quoting pips29
{quote} nicely done, Giedrius..I closed shop early today..it's always good to take profits quickly on Friday as price is fickle on this day
sure it is ericwell, you enjoy bank holiday, I hope you having nice weather there, now when pubs are open, pint outside
  • #8,177
  • May 28, 2021 11:36am May 28, 2021 11:36am
Quoting Giedrius
{quote} sure it is ericwell, you enjoy bank holiday, I hope you having nice weather there, now when pubs are open, pint outside
I seldom drink beer. I'm more a wine drinker..are you from Lithuania?
the cautious seldom err....C
  • #8,178
  • May 28, 2021 11:41am May 28, 2021 11:41am
Quoting pips29
{quote} I seldom drink beer. I'm more a wine drinker..are you from Lithuania?
Yes I'm from Lithuania, but I live in Ireland around 17years, so I don't know who I'm more at this point
Well enjoy with glass of wine then
  • #8,179
  • May 28, 2021 2:21pm May 28, 2021 2:21pm
Quoting Giedrius
{quote} Yes I'm from Lithuania, but I live in Ireland around 17years, so I don't know who I'm more at this point Well enjoy with glass of wine then
Cheers
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the cautious seldom err....C
  • #8,180
  • May 29, 2021 5:58am May 29, 2021 5:58am
looks like nobody else is trading this method except you Giedrius..as you trade M5 I would suggest a stop of not more than 15 pips,,if you enter correctly the stop can be reduced to under 10..look at the charts carefully and you can find entries where the stop can be 5 - 10 pips
the cautious seldom err....C
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