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

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Trading Made Simple(r)

  • #6,721
  • Jun 14, 2021 7:11pm Jun 14, 2021 7:11pm
Quoting SwingMan
{quote} Nice trading idea! Here a little visual help indicator... (Heikin Ashi indicator is not necessary) {image} {file}
Wonderful, Mr. Swingman! Thank you very much and wish you good health
  • #6,722
  • Jun 16, 2021 1:44am Jun 16, 2021 1:44am
Quoting SwingMan
{quote} Nice trading idea! Here a little visual help indicator... (Heikin Ashi indicator is not necessary) {image} {file}
Please, do you have the MT5 version. Thanks
  • #6,723
  • Edited 4:36pm Jun 26, 2021 6:00am | Edited 4:36pm
Quoting SwingMan
{quote} Nice trading idea! Here a little visual help indicator... (Heikin Ashi indicator is not necessary) {image} {file}
SwingMan,

Thank you very much for taking the time to create and post this indicator. I love it! In that this thread is named "Trading Made Simple(r)", that's aptly what this indicator further helps to do. Again, Muchas Gracias!

Attached Image (click to enlarge)
Click to Enlarge Name: sm HiLo Indicator.PNG Size: 90 KB



On another note, for those who may wonder why I am currently trading stocks and not the Forex, here's why...

Here's a typical looking weekly Forex chart:

Attached Image (click to enlarge)
Click to Enlarge Name: Forex.PNG Size: 131 KB

Here's an weekly Apple stock chart:

Attached Image (click to enlarge)
Click to Enlarge Name: Stocks.PNG Size: 178 KB


See any differences? LOL!

Also, I don't typically short stocks when position trading, but I do when day trading. I don't short stocks when position trading because it's a proven fact that your win % will be much higher if you only trade stocks on the Long side. Now, if we go into an extended bear market, things might change.

Here's my 1 year Cumulative Rate of Return trading stocks:

Attached Image (click to enlarge)
Click to Enlarge Name: Stocks 1 Year Returns.PNG Size: 72 KB

My point in in posting the charts is to show everyone what a stock in stock market looks like compared to a currency pair in the Forex.

In my opinion, the contrast is very stark.

I posted my returns in the stock market as poof that what I do REALLY WORKS, and...REALLY WELL.

ALSO...

Here's two stocks that I have a MASSIVE quantity of shares (as in 7 figures of each). Look at what they did yesterday:

Attached Image (click to enlarge)
Click to Enlarge Name: Stock - 2 Charts.PNG Size: 220 KB

Does this happen for me every day? No, but it happens often enough.

* I position trade stocks every day...and I day trade stocks for fun and mental stimulation on most days.

Best of Luck to Everyone!
Always a Student, Never a Master - Emulate What Works
  • #6,724
  • Jun 26, 2021 6:17am Jun 26, 2021 6:17am
Quoting RobinHood
{quote} SwingMan, Thank you very much for taking the time to create and post this indicator. I love it! In that this thread is named "Trading Made Simple(r)", that's aptly what this indicator further helps to do. Again, Muchas Gracias! {image} On another note, for those who may wonder why I am currently trading stocks and not the Forex, here's why... Here's a typical looking weekly Forex chart: {image} Here an Apple weekly stock chart: {image} See any differences? LOL! Here's my 1 year Cumulative Rate of Return: {image} My point in in posting the...
Wow nice RH. I agree with you on stocks....spend some time demo trading the DAX30 and came to the same conclusion. Way easier to trade than currency. Just dont know which platform/broker I can check stocks with and the minimal funds.

EDIT: I have learnt a lot from you. Thanks a lot.
"You can't buy the bottom, nor sell the top. The best you can strive for is
  • #6,725
  • Jun 26, 2021 6:47am Jun 26, 2021 6:47am
Quoting Nonip
{quote} Wow nice RH. I agree with you on stocks....spend some time demo trading the DAX30 and came to the same conclusion. Way easier to trade than currency. Just dont know which platform/broker I can check stocks with and the minimal funds. EDIT: I have learnt a lot from you. Thanks a lot.
You are very welcome!
Always a Student, Never a Master - Emulate What Works
  • #6,726
  • Jun 26, 2021 1:33pm Jun 26, 2021 1:33pm
RH
Is this trading system usable for the cryptocurrency market?
  • #6,727
  • Jun 27, 2021 9:08am Jun 27, 2021 9:08am
Quoting phamvuong
RH Is this trading system usable for the cryptocurrency market?
I don't know as I don't directly trade cryptocurrencies.

However, I do use it to trade stocks in companies that have invested heavily in cryptocurrencies like MicroStrategy and Grayscale Bitcoin.
Always a Student, Never a Master - Emulate What Works
  • #6,728
  • Jun 27, 2021 11:11am Jun 27, 2021 11:11am
Quoting RobinHood
{quote} SwingMan, Thank you very much for taking the time to create and post this indicator. I love it! In that this thread is named "Trading Made Simple(r)", that's aptly what this indicator further helps to do. Again, Muchas Gracias! {image} On another note, for those who may wonder why I am currently trading stocks and not the Forex, here's why... Here's a typical looking weekly Forex chart: {image} Here's an weekly Apple stock chart: {image} See any differences? LOL! Also, I don't typically short stocks when position trading, but I do when day...
Hi RH,
convincing results.
Can you tell me what indicators you use on the apple chart?
  • #6,729
  • Edited 1:45pm Jun 27, 2021 12:55pm | Edited 1:45pm
Quoting zego
{quote} Hi RH, convincing results. Can you tell me what indicators you use on the apple chart?
No, I'm sorry I can't. They are proprietary stock trading settings and/or indicators that I use and no one else has them. Were I to share them, in due time, I would be competing against other stock traders who were also using my proprietary stuff. I know because I have had it happen before.

The reason that I share everything for the Forex is because everything I share is already a part of MT4, or it was already publicly shared by other people on FF and/or other trading forums.

Remember, in the Forex we are not really competing against each other, but in stocks, we effectively are.

The best advice that I can give traders who want to somewhat emulate trading stocks the way I do is to read a book on stock trading called: "Insider Buy SUPERSTOCKS" by Jesse C. Stine because if I ever did write another trading book, it would have been very much like that one.

Otherwise, I would highly recommend: "How to Make Money in Stocks" by William J. O'Neil.
Always a Student, Never a Master - Emulate What Works
  • #6,730
  • Jun 27, 2021 1:25pm Jun 27, 2021 1:25pm
Quoting RobinHood
{quote} No, I'm sorry I can't. They are proprietary stock trading settings and/or indicators that I use and no one else has them. Were I to share them, in due time, I would be competing against other stock traders who were also using my proprietary stuff. I know because I have had happen before. The reason that I share everything for the Forex is because everything I share is already a part of MT4, or it was already publicly shared by other people on FF and/or other trading forums. Remember, in the Forex we are not really competing against each...
Ok, I'm sorry about that, but I understand.
Thanks.
  • #6,731
  • Jun 28, 2021 1:38am Jun 28, 2021 1:38am
Quoting RobinHood
{quote} I position trade stocks every day...and I day trade stocks for fun and mental stimulation on most days. Best of Luck to Everyone!
Thank you for sharing. Can you speak in greater detail about your routine for choosing stocks? I remember you said about going through forums/twitter to find stocks that are all the hype. However in Stein's book it's more about trading stocks that have been in long-lasting compression (or continuation). How do you find such stocks? Do you sift through them manually? Tradingview scanner is rather useless for finding assets in compression.
Thank you.
  • #6,732
  • Edited 7:57am Jun 28, 2021 5:23am | Edited 7:57am
Quoting oohoo
{quote} Thank you for sharing. Can you speak in greater detail about your routine for choosing stocks? I remember you said about going through forums/twitter to find stocks that are all the hype. However in Stein's book it's more about trading stocks that have been in long-lasting compression (or continuation). How do you find such stocks? Do you sift through them manually? Tradingview scanner is rather useless for finding assets in compression. Thank you.
1. Here's what you MUST first understand above all else. I have numerous definitive ways of entering and exiting. No one can change that as they are now set in stone (and this is very important to do for the trading psyche, so you don't question yourself when it come time to pull the trigger). For example, one way I enter a trade is:

a) My moving averages must be in a certain, precise order. And, there are several of them. *For example, think Crossover and Continuation trades as described in this thread on Page 1

AND

b) Both of the dots must be blue for Long entries or orange/yellow for short entries. See below:

Attached Image (click to enlarge)
Click to Enlarge Name: Stocks.PNG Size: 178 KB


c) For position trades, the above MUST be true on both the Weekly and the Daily charts at the same time. For day trades, I only look at one time frame, either the 1 min. or the 3 min. chart. Why? Different stocks are easier to trade on different time frames because of the way they move. For example, I find Tesla easier to day trade on a 1 min. chart and Apple easier to trade on a 3 min. chart. Overall, the 3 minute chart is my favorite time frame to use when day trading.

2. Each morning, well before the stock market opens, I rummage through the stock trading forum StockTwits to see what stocks people are trying "hype".

3. I create a list of all of those that I find and then I place those stocks on a chart 1 by 1 to see if they meet my criteria for a day trade, or for a position trade as described above.

4. If I find any good stocks, I day trade them or I add them to my portfolio as a position trade. *This is exactly how I found HPIL last week, and PHIL before it. See below:

Attached Image (click to enlarge)
Click to Enlarge Name: Stock - 2 Charts.PNG Size: 220 KB


In regards to Stine liking long-lasting compressions (mostly when it happens way down low on the chart), I like that A LOT too, but it's often hard to find stocks like that (unless you search through LOTS and LOTS of stock charts like he does) because the stocks are in an obscure mode and so no one is talking about them.

One of the world's best traders, Ed Seykota, taught me about "Compression" in regards to trading. He graduated from MIT. He KNOWS math and physics. He explained to me (and I am summarizing) that he looks for a chart pattern that he calls a "Coil". The longer the coil is (usually sideways horizontally), the more energy it releases when it decompresses. That enables him to put on a very large position with a very small Stop because if he's on the right side of the trade when it happens, price explodes and often it never looks back. Otherwise, he knows he is wrong and so he can use a very tight Stop Loss.

Unlike Stine and Seykota, my indicators make me wait until that explosion has already happened before I can enter. Now keep in mind, they are much more successful traders (moneywise) than I am, so I would follow their advice over mine. BUT, every trader has to find what works best for them, and that's what I have done for myself.

Lastly, never believe ANYTHING some one says in a stock trading forum because there are PAID stock "Bashers" and PAID stock "Hypers" in the stock forums. Meaning, these individuals are paid to LIE in their posts to try to sway traders into believing stuff about stocks that is totally not true in order to try and sway which way a stock moves, both up and down, depending on which way is most beneficial to the person or company paying them. Otherwise, MOST of the other posts people make are just their own wishful thinking, and not based on reality.

To me, in trading, you can never 100% trust in what anybody else says about trading, the best you can do in trading is to learn to trust yourself...and the charts.
Always a Student, Never a Master - Emulate What Works
  • #6,733
  • Jun 28, 2021 10:26pm Jun 28, 2021 10:26pm
Thank you for a detailed reply.
I find filtering and finding right assets/setups to be the most challenging and fundamental part. I totally agree about the coil, but there's no easy way to filter out such assets.
  • #6,734
  • Jun 28, 2021 11:17pm Jun 28, 2021 11:17pm
Quote
2. Each morning, well before the stock market opens, I rummage through the stock trading forum StockTwits to see what stocks people are trying "hype".
Could you specify that a little please? Do you just go through posts, or search for something specific, or use services which show what stock mentions are trending?
  • #6,735
  • Edited 8:11am Jun 29, 2021 5:40am | Edited 8:11am
Quoting oohoo
{quote} Could you specify that a little please? Do you just go through posts, or search for something specific, or use services which show what stock mentions are trending?
People are what move markets. Therefore, I just go into the most active StockTwit trading rooms and people will constantly make suggestions on what stocks to buy or sell. Some of them REALLY know what they are talking about, but most of them are just like kids in a candy store, every stock excites them and they swear that it's the one that is going to make them rich, and your job is to separate out the two groups. You can do that by doing what I suggest below.

I make a list of all the stocks people have suggested (I do this every morning). My lists are about only 10-20 stocks each day, because for me, any more than that becomes too tiring and boring. And, if I don't find any that meet ALL of my criteria that day, it doesn't matter because I already have a portfolio of good stocks.

I then pull up a Weekly chart of a stock (from the list I just made), and if it has the buy setup that I am looking for, I then switch to a Daily chart and if it also has the buy setup that I am looking for, when the market opens, I bring up a 3 minute chart and I look for a good entry point and I enter when I see one. On a 3 minute chart, they happen VERY often.

The way to switch trading rooms EASILY on StockTwits is to go to a trading room such as:

https://stocktwits.com/symbol/hpil

Then, when you want to switch rooms, you just replace the stock symbol at the end of the website link with another one. For example:

https://stocktwits.com/symbol/aapl <---- https://stocktwits.com/symbol/goog <----

----------------------------------------

Also, every day I go to the link below and I do the same thing that I described above with Weekly, Daily charts, etc.

https://www.benzinga.com/premarket/

But you have to be very careful with the stocks on this list, because lots of them will crash and burn because many of them are what's called "Pump & Dump" stocks. * I only look at the Pre-Market Gainers.

----------------------------------------

You wrote: I find filtering and finding right assets/setups to be the most challenging and fundamental part.

That's true, but IF you get your chart set up well enough that you have great confidence in spotting a BUY/Long entry (or a Short entry), then if you do what I mentioned above with each stock every day, then it becomes MUCH, MUCH, MUCH more easy to find them.
Always a Student, Never a Master - Emulate What Works
  • #6,736
  • Jun 29, 2021 1:17pm Jun 29, 2021 1:17pm
Thank you, these are very valuable observations.
  • #6,737
  • Jun 30, 2021 4:29am Jun 30, 2021 4:29am
Quoting SwingMan
{quote} Nice trading idea! Here a little visual help indicator... (Heikin Ashi indicator is not necessary) {image} {file}
Hi SwingMan,
Can you explain this new indicator, how it puts the dots and how can you enter: at the first dot or second, have you mt5 version of it? Thank you.
  • #6,738
  • Jun 30, 2021 12:56pm Jun 30, 2021 12:56pm
Quoting Celal
...Hi SwingMan, Can you explain this new indicator, how it puts the dots and how can you enter: at the first dot or second, have you mt5 version of it? Thank you.
I hope you can interpret an indicator.
Everything is here: https://www.forexfactory.com/thread/...3#post13530163

I do not program for mt5.
  • #6,739
  • Jul 2, 2021 10:29am Jul 2, 2021 10:29am
Good morning swingman

I am using one of your old indicators that I found in FF.

Even though you are not coding for other traders, could you help me by correcting an error in the indicator?
When I work with this indicator it prevents me from working on the chart with trend lines since they disappear.

If you don't have time to fix it, could you help me with the code, I know it is a daring request but I am very interested in this indicator since it works very well with my Order Blocks strategy,

The name of the indicator is

smPA_PriceControlLines_v1.ex4

I would really appreciate your help.

Greetings from Ecuador.
Attached File(s)
File Type: ex4 smPA_PriceControlLines_v1.ex4   4 KB | 416 downloads
IH - B221 Return Today: -0.2%
  • #6,740
  • Jul 3, 2021 2:26am Jul 3, 2021 2:26am
Quoting Vicente
Good morning swingman I am using one of your old indicators that I found in FF.
Hi young man, here are the old indicators ...

I did not understand where the problem is.

You probably have to change "deinit"

Inserted Code
int deinit()
{
   //ObjectsDeleteAll(0,OBJ_RECTANGLE);
   //ObjectsDeleteAll(0,OBJ_TREND);
   ObjectsDeleteAll(0,"PCLine_");
   return(0);
}
Attached Image
Attached File(s)
File Type: mq4 smPA_PriceControlLines_v1.mq4   5 KB | 477 downloads
File Type: mq4 smPA_PriceControlLines_v2.mq4   10 KB | 535 downloads
File Type: mq4 smPA_PriceRetracement_v2.mq4   26 KB | 553 downloads
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