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Trading Made Simple

  • #119,921
  • Jun 4, 2021 1:44am Jun 4, 2021 1:44am
hi Fellow Traders,
Greetings of the day.! I have been doing manual trading & EA trading for a little less than 4 months now... (so i m quite new to this).. in this short time, i learnt MQL coding, I did my first script too (I am not a coder by the way, I am an Automobile engr and in that core profession). this script, i run it at the end of week session, to download the history data of a set of 30 pairs (which i follow), to analyse the market movement... basically all these are potential PIP profits (Sky is the limit right).. I know this is a Whole Lot in the Market and even if we can take 0.0001% of that, we would make profits in 100Ks every month... Now most of the EAs, i have used so far (6 or 7 of them), are Scalpers, basically built on GRID Trading & MARTINGALE Strategies... I dont trust the back testing method, i rather, run the EA in a demo account for 2 months, before deploying them in the real account, if the performance was convincing in demo environment..

Even though i made money, i did lose a lot on the Dooms Day with huge draw downs.. with such a flip side, i m scared and i cant convince myself to have a bigger account... at present i am limiting myself to a $500 or $1K account to the max.... But i want to overcome this problem of draw downs with Grid Trading / Martingale... infact, I dont want to trade Grid trading / Martingale method EAs either... I hv to rely on EAs to do my trades, as i m not a day trader to sit for trading.. the Account balance growth can be reasonably slow, but the drawdown should b very minimal or even ABSOLUTE ZERO...

I hv a thought in mind (dont know if this would work as a strategy)... my idea is to have an EA on any pair's 4hr chart, (since 4 hr charts have considerably significant pip movements), have 2 trades for each Candle at OPEN Price, one Buy & one Sell... so at any point, there is only 2 trades per pair.... capture every pip movement in that candle.. like tracking the HIGH of the Candle as TP for the buy trade and LOW of the Candle as TP for the Sell trade...with trailing stops to minimize any potential big loss..

Now, I dont know if this is possible.. but hv seen indicators tracking HILO of candles.. if we can have an indicator for HILO, can we not have an EA to capture the pips between HILO.. Expert traders & Senior coders, I look forward to your comments & suggestions....
  • #119,922
  • Jun 4, 2021 2:24am Jun 4, 2021 2:24am
Quoting hasib
{quote} Yes, I can see sell in the daily chart. {image}
The sell you posted in your thread has too tight a stoploss if trading on Daily level

Look left and should identify the price level tops at about 1875. Win or lose, SL should give room for price to breath.

Although I have no idea why you sell and chase the downswing in the first place..
  • #119,923
  • Jun 4, 2021 3:40am Jun 4, 2021 3:40am
Quoting hasib
{quote} I can see price quickly recover the loss. almost 160 pips Tokyo channel. {image}

Elon Musk tweeted and BTCusd fell slightly. If this fall continues then I will cut my XAUUSD sell position ...

XAUUSD is in a market transition phase but it is still too early to say now, must wait for the Weekly to close and confirm.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #119,924
  • Jun 4, 2021 3:49am Jun 4, 2021 3:49am
GU Juno4 H1 London session

- it is simple, buy when HA candle is blue and mdeium size body above 5EMA.

- when HA candle fails to make higher high higher low + higher Close and HA candle changes colour and closes RED , EXIT!

Attached Image (click to enlarge)
Click to Enlarge Name: GU Jun 04 H1 London_3 4-6-2021 4-47-58 pm.png Size: 57 KB


NFP favours USD.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #119,925
  • Jun 4, 2021 3:56am Jun 4, 2021 3:56am
EG Jun 04 H1 London Open

* Free -trade *

- when EU did not present any setup and GU presented a buy setup,

- I look at EG and sell.

- now I wait for profit if the market is kind to me today.

Attached Image (click to enlarge)
Click to Enlarge Name: EG Jun04 H1 LO sell 4-6-2021 4-53-26 pm.png Size: 37 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #119,926
  • Jun 4, 2021 4:08am Jun 4, 2021 4:08am
Quoting tommydoginti
{quote} GU buy scalp round 2 Close call SL. But if lost then the plan was buy next exhaustion on m15 *Edit: m15 setup may take another hour to form at least. May have gone to bed by then. Call it a day good night and trade well {image}{image}
GU reversal Buy with TDI green cross red up

exited at resistance as TDI hooked. Off for Happy Friday.

Trade well guys

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  • #119,927
  • Jun 4, 2021 4:33am Jun 4, 2021 4:33am
Quoting emmanuel7788
EG Jun 04 H1 London Open * Free -trade * - when EU did not present any setup and GU presented a buy setup, - I look at EG and sell. - now I wait for profit if the market is kind to me today. {image}
GJ buy. seems like momentum lost. Lets see how it goes.
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MA provides the market's current direction and strength.
  • #119,928
  • Jun 4, 2021 4:55am Jun 4, 2021 4:55am
Quoting hasib
{quote} GJ buy. seems like momentum lost. Lets see how it goes. {image}
Many thanks for the last time I have even visited your discord page very cool keep it up,pls how do I get this template and the indicators that made it up I know those arrows are non repaint too.Rgds
  • #119,929
  • Jun 4, 2021 5:31am Jun 4, 2021 5:31am
Quoting tommydoginti
{quote} The sell you posted in your thread has too tight a stoploss if trading on Daily level Look left and should identify the price level tops at about 1875. Win or lose, SL should give room for price to breath. Although I have no idea why you sell and chase the downswing in the first place..
Well, when a person doesn't understand the inter-relationships between the TFs, he cannot understand that the XAUUSD H4 is OVERDUE to go up now that it has painted the downswing of the H16.

M15 has already confirmed trying to end theH16 downswing with a swing up, a pullback, and an up continuation that could have been bought.

But most folks, even though they have no winning system, reject anything that does not fit into their "comfort zone" analysis methods, and instead jump from one hyped (failng) system to another.
To free Gazans of Hamas, use whatever it takes.
  • #119,930
  • Jun 4, 2021 5:37am Jun 4, 2021 5:37am
GBPUSD
It's simple: When the H1 makes an up swing, pullback, and up continuation, it's a no brainer to check if TDI green cross red up with acceptable angle. If yes, and other entry criteria met, can buy and then drop to M15 (or even M5) and look for the pullbacks to buy as the H1 continues up to turn up H4.
To free Gazans of Hamas, use whatever it takes.
  • #119,931
  • Jun 4, 2021 5:52am Jun 4, 2021 5:52am
Quoting emmanuel7788
GU Juno4 H1 London session - it is simple, buy when HA candle is blue and mdeium size body above 5EMA. - when HA candle fails to make higher high higher low + higher Close and HA candle changes colour and closes RED , EXIT! {image} NFP favours USD.

GU Jun 04 H1 London session day-trading

- price action fails to make a higher high + higher Close. PA is a Doji bar / candle.

- exit without waiting for HA to change colour ... too much to give up if waited for HA colour change.

- some profit for NFP trading later.


- setup was Phx62 PCRF plus break of TOK_5H high entry

Attached Image (click to enlarge)
Click to Enlarge Name: GU Jun 04 H1 trade exit 4-6-2021 6-47-09 pm.png Size: 27 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #119,932
  • Jun 4, 2021 6:32am Jun 4, 2021 6:32am
Quoting hasib
{quote} GJ buy. seems like momentum lost. Lets see how it goes. {image}
Hi
Those arrows are TDI cross arrow. that indicator you will find in this thread.
Moving average are 34, 20, 10 and 5.
All other indicators are just supporting tools. In my new thread you will find those indicators.

Keep in mind Risk management is the key.
MA provides the market's current direction and strength.
  • #119,933
  • Jun 4, 2021 6:43am Jun 4, 2021 6:43am
Quoting sathishkbala
hi Fellow Traders, Greetings of the day.! I have been doing manual trading & EA trading for a little less than 4 months now... (so i m quite new to this).. in this short time, i learnt MQL coding, I did my first script too (I am not a coder by the way, I am an Automobile engr and in that core profession). this script, i run it at the end of week session, to download the history data of a set of 30 pairs (which i follow), to analyse the market movement... basically all these are potential PIP profits (Sky is the limit right).. I know this is a Whole...
Hi
excellent work that you have learn mql programing.
few points
1. 2 months forward test is small data sample for live testing.
2. Instead of daily High low you can use daily ADR high low in your ea since many successful EA use ADR in their trading system.
3. Martingale is risky system, consider your risk before applying martingale.
Best of luck
MA provides the market's current direction and strength.
  • #119,934
  • Jun 4, 2021 7:07am Jun 4, 2021 7:07am
Jun 04 H1 New York Open

- how many setup alerts for you in your day-trading plan?

- one of my favourite is Bullish/Bearish Engulfing Outside Bar.

Attached Image (click to enlarge)
Click to Enlarge Name: TMS Monitor Jun 04 H1 NYOpen 4-6-2021 8-05-03 pm.png Size: 37 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #119,935
  • Jun 4, 2021 7:37am Jun 4, 2021 7:37am
Quoting sathishkbala
hi Fellow Traders, Greetings of the day.! I have been doing manual trading & EA trading for a little less than 4 months now... (so i m quite new to this).. in this short time, i learnt MQL coding, I did my first script too (I am not a coder by the way, I am an Automobile engr and in that core profession). this script, i run it at the end of week session, to download the history data of a set of 30 pairs (which i follow), to analyse the market movement... basically all these are potential PIP profits (Sky is the limit right).. I know this is a Whole...

Hi,

EA is not part of the discussion of Trading Made Simple.

I started Forex with EA and also been running EA on live since last June. A bit of experience to share. Always good to learn coding to create or modify a EA for yourself to run

1. Don’t use grid/martingale strategies. First they are high risk strategies that also lock up most of your capital (for margin level maintenance). You need a big account size but slow growth.

2. Develop a reactive strategy instead of predictive. That also apply for manual strategy, as market is not as predictive as seems. Also keep rules simple.

3. As Hasib mentioned, use dynamic parameters such as ADR instead of fixed pips to best suit into current market condition, despite EA being rigid. Grid, for instant, has no adaptation to volatility.

4. A big part of EA should be troubleshooting, especially if looking for fully automated open/close trade executions. For the EA I run 24/5, I put a few features that may be helpful to you: 1) spread gate to avoid BUY entry/exit execution at market close and spikes. 2) mechanism to deal with requote and execution failure. 3) Alert systems with information

Hope it helps, and you can find more coders in other threads to further help you. Trade well
  • #119,936
  • Edited 10:37am Jun 4, 2021 7:43am | Edited 10:37am
Quoting tommydoginti
{quote} GU reversal Buy with TDI green cross red up exited at resistance as TDI hooked. Off for Happy Friday. Trade well guys {image} {image}
GU Buy at TDI green cross red

Update: 8.4R after spread

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  • #119,937
  • Jun 4, 2021 8:08am Jun 4, 2021 8:08am
Hi tommydoginti, hasib,

Many thanks for your feedback & valuable suggestions.
Yes I know EA was not part of this thread, but then, since the thread was about Trading Made Simple.. I thought I will share my idea...
being a rookie... I am neither allowed to like or directly reply to your threads... FF doesnt allow... the previous post was my first post...
So hope u guys dont take it otherwise, if my post was Off Topic..

Regarding Grid & Martingale, yeah, infact, I dont want to trade these strategies.. but most EAs available in market or from some known coders are built on these strategies... Even though they give great returns, there is huge risk trading with these... So i m thinking of building an EA which doesnt work on Grid / Martingale strategies... but still being effective to capture maximum pip in each candle...

Suggestion about ADR, is highly welcome... I will definitely consider this, infact I have to study this from scratch, as I have no clue on that yet, but anyways thnx for that tip Mate.. about the forward testing of 2 months.. yes its less... thats y, I continue to run the EAs in demo accounts simultaneously, testing with different account balances and currency pairs... trying to figure out the optimal account size and pairs mix for best returns...

I am reading all the other threads as well to gather knowledge... any & every suggestion / critic is welcome....
  • #119,938
  • Jun 4, 2021 8:15am Jun 4, 2021 8:15am
@emmanuel 7788... that image is an awesome dashboard.. is that some kind of EA.. is it available for sharing with mql source code... because, i m thinking of developing something similar with additional info like Balance, available Margin, net profit / loss float, number of sell & buy trades count in each pair..
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  • #119,939
  • Jun 4, 2021 8:23am Jun 4, 2021 8:23am
what is it?
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MA provides the market's current direction and strength.
  • #119,940
  • Jun 4, 2021 8:32am Jun 4, 2021 8:32am
Quoting sathishkbala
Hi tommydoginti, hasib, Many thanks for your feedback & valuable suggestions. Yes I know EA was not part of this thread, but then, since the thread was about Trading Made Simple.. I thought I will share my idea... being a rookie... I am neither allowed to like or directly reply to your threads... FF doesnt allow... the previous post was my first post... So hope u guys dont take it otherwise, if my post was Off Topic.. Regarding Grid & Martingale, yeah, infact, I dont want to trade these strategies.. but most EAs available in market or from some...
One good way is to look for ideas in the threads here in FF. There are non-profitable strategies that contains valuable concepts to learn despite of its failure, there are also strategies that can be working with suitable optimization and modification.

If you are looking for low DD, aim low. Look for high probability setups instead of wanting to capture big pips. A strategy with ~50-55% win rate and a 1.1RR is already very good and is what I am using. Slightly better than 50:50 (gambling) is already enough for steady growth.

If you want to learn MQL4 properly and need fast track to build your EA, you can go to This Thread.
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