Disliked{quote} Systems based on certain patterns, such as a 1-2-3, and/or a coil, and/or ascending/descending triangles, and/or trendline breaks, and/or several other reliable patterns. and/or Well defined "Supply and Demand" zones based on the higher time frames. and/or Sometimes commonly used moving averages like: 20 ema, 50 ema 100 ema, and the 200 ema. ----------------- And...most importantly what I say in my profile: "The absolute best trading advice that I could give someone is to buy the resumption of an up trend after the first pull-back. And vice-versa...Ignored
- #6,825
- Aug 29, 2021 7:27am Aug 29, 2021 7:27am
- Joined Jul 2009 | Status: Trade What U See Not What You Think | 1,760 Posts
Hi everyone , i am new (trying to learn the system) . first I want to say thanks to BigE and RH for the simple system. as i have read alot from bigE thread and combine with this SimpleR thread. im having fun reading all the posts. i noticed BigE mentioned he didnt like to trade on market opening session i would like to ask RH , did you do so too? (if i missed some comment you have made , im sorry.) i also noticed from page1’s example , and post #6703 , no matter if its crossover or continuation. the entry...
Sorry for the late reply, but I knew it was going take some time to answer your questions properly, and so I had to wait until I had enough time.
I enter and exit my trades 5 minutes before the Close OR 1 hour after the Open when trading Daily charts. I do this to avoid the ridiculously wide spreads after the Open. I call it "FU money" for the brokers. Only thieves would play shenanigans like that in a market that is open 24 hours a day, trades worldwide, and trades over $7 TRILLION a day.
You are correct.
The "no wick" suggestion was only meant to apply to what I described in Post #6703. It is not the way that I enter otherwise. The way I now always enter a long trade wait for the Crossover (or the Resumption of the trend). I buy just above the high of the 1st bar after the Crossover (or the Resumption of the trend). Short trades are just the opposite. Here's 2 examples:
Always a Student, Never a Master - Emulate What Works
- #6,826
- Aug 29, 2021 8:07am Aug 29, 2021 8:07am
backtest usdchf 15m timeframe:From 27/7/2021 23:45-27/8/2021 23:45. TRADES:114.WIN 92. LOSS 22 WIN RATE 80.7%
BUY WHEN.1.SYNERGY ARB BLUE 2.BOTH STOCH >50 ,RSI >50,TMS OSC HMA DOTS GREEN,SSL BAR GREEN.entry first or second candle after croosover.Just those indivators,noting more(S/R,SUPPLY& DEMAND.etc)
Avoid trades O/S,O/B areas.Daily still is my favorite time frame.
BUY WHEN.1.SYNERGY ARB BLUE 2.BOTH STOCH >50 ,RSI >50,TMS OSC HMA DOTS GREEN,SSL BAR GREEN.entry first or second candle after croosover.Just those indivators,noting more(S/R,SUPPLY& DEMAND.etc)
Avoid trades O/S,O/B areas.Daily still is my favorite time frame.
{quote} Sorry for the late reply, but I knew it was going take some time to answer your questions properly, and so I had to wait until I had enough time. I enter and exit my trades 5 minutes before the Close OR 1 hour after the Open when trading Daily charts. I do this to avoid the ridiculously wide spreads after the Open. I call it "FU money" for the brokers. Only thieves would play shenanigans like that in a market that is open 24 hours a day, trades worldwide, and trades over $7 TRILLION a day. You are correct. The "no wick" suggestion was only...
Thankyou for the kind and clear explanation RH , appreciate it alot . Please dont worry about the late reply .
Does that means i should have enter at candle 2a instead of 2b ? (Attached picture)
i will practice more by scouting a chart with similar circumstances and post it here. I hope you dont mind
thank you very much!
- #6,832
- Aug 29, 2021 2:58pm Aug 29, 2021 2:58pm
- Joined Jul 2009 | Status: Trade What U See Not What You Think | 1,760 Posts
{quote} Thankyou for the kind and clear explanation RH , appreciate it alot . Please dont worry about the late reply . Does that means i should have enter at candle 2a instead of 2b ? (Attached picture) i will practice more by scouting a chart with similar circumstances and post it here. I hope you dont mind
Always a Student, Never a Master - Emulate What Works
- #6,833
- Edited 3:17pm Aug 29, 2021 3:07pm | Edited 3:17pm
- Joined Jul 2009 | Status: Trade What U See Not What You Think | 1,760 Posts
Always a Student, Never a Master - Emulate What Works
- #6,839
- Aug 30, 2021 5:43pm Aug 30, 2021 5:43pm
{quote} Hi Trade 1969 You showed an image of 1 sell trade with 3 TP can you please tell me how it is done Thank you T{image}
1 TAKE PROFIT 1 ATR
2 TAKE PROFIT 2 ATR
3 TAKE PROFIT 3 ATR
Brake your position to three thirds
OR ROBINHOOD POST 1382
