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Simple Monday-Tuesday System (attached calculator)

  • #2,441
  • Jun 14, 2021 7:10am Jun 14, 2021 7:10am
Quoting Erebus
{quote} Ah-ha, this is why I make mistake, to see if anyone is reading the results! Actually, not sure what I did there, in the demo account, it was exit by the 75 trailing stop loss, so definitely at least a 1 to 1 winner. Thanks for catching that, will update the spreadsheet later as I have to go out today. {image}
How do you calculate the entry price?
  • #2,442
  • Jun 14, 2021 7:27am Jun 14, 2021 7:27am
Quoting boseman
{quote} How do you calculate the entry price?
Entry is calculated by taking 10% of the Range of the Mon Tue High to Mon Tue Low,

So, 10%, above or below the range limits, different for every pair
It takes a lot for me to IGNORE you, but you can try.
  • #2,443
  • Jun 14, 2021 11:59am Jun 14, 2021 11:59am
Quoting Erebus
{quote} Entry is calculated by taking 10% of the Range of the Mon Tue High to Mon Tue Low, So, 10%, above or below the range limits, different for every pair
Thank you!
  • #2,444
  • Jun 14, 2021 1:16pm Jun 14, 2021 1:16pm
Is there a Monday/Tuesday range limit of when not to trade? It thought I read something on this but cannot find it now.
  • #2,445
  • Jul 2, 2021 6:48am Jul 2, 2021 6:48am
Quoting Erebus
{quote} Entry is calculated by taking 10% of the Range of the Mon Tue High to Mon Tue Low, So, 10%, above or below the range limits, different for every pair
Hey man.
How are the counts going?
Do you stop to post it?
  • #2,446
  • Jul 2, 2021 6:59am Jul 2, 2021 6:59am
Quoting 19monza64
{quote} Hey man. How are the counts going? Do you stop to post it?
I've been tracking a demo account and posting in Telegram

But after 8 weeks, and now this week being poor, I'm just about done



Attached Image
It takes a lot for me to IGNORE you, but you can try.
  • #2,447
  • Sep 1, 2021 5:40am Sep 1, 2021 5:40am
I just realized a good way to recognize and enter these trades, with Tradingview

Draw the Mon Tue Low High levels on 4-hour chart

Attached Image (click to enlarge)
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Switch to the 1-hour chart and use the 4-bar signal to enter

Attached Image (click to enlarge)
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Be sure to set Alerts for each pair of interest

Good Luck

It takes a lot for me to IGNORE you, but you can try.
  • #2,448
  • Sep 3, 2021 8:09am Sep 3, 2021 8:09am
Quoting Erebus
I just realized a good way to recognize and enter these trades, with Tradingview Draw the Mon Tue Low High levels on 4-hour chart {image} Switch to the 1-hour chart and use the 4-bar signal to enter {image} Be sure to set Alerts for each pair of interest Good Luck
Thanks you for all replies on this entire forum, I think you are the only that make sense on all the strategys on forexfactory
  • #2,449
  • Sep 29, 2021 4:33pm Sep 29, 2021 4:33pm
Quoting amargam
{quote} Thanks you for all replies on this entire forum, I think you are the only that make sense on all the strategys on forexfactory
Thank you, very much appreciated

All the USD pairs this week, this is why it pays to watch these levels just as a Price Action even if you are not trading it as a method

Attached Image (click to enlarge)
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It takes a lot for me to IGNORE you, but you can try.
  • #2,450
  • Sep 29, 2021 6:48pm Sep 29, 2021 6:48pm
Hi Erebus thanks for your hard work!
Didn't read all the hundred pages but did you find this method to gives good return?
Not sure about what you say in post #2446 !Thank you
  • #2,451
  • Sep 29, 2021 7:02pm Sep 29, 2021 7:02pm
Quoting Jackain
Hi Erebus thanks for your hard work! Didn't read all the hundred pages but did you find this method to gives good return? Not sure about what you say in post #2446 !Thank you
It can return phenomenal results on the right week, absolutely...

But it will eat your account on other weeks...

That's why I just recommend using it as an ANALYSIS method...

When you see a setup happening, other price action, strong & weak, fundamental situation and the stars lined up together...

Then you hit that pair(s) as hard as you can; it won't even happen every week, but when it does, usually on correlated pairs.

Also, it can help make the decision to stay out of the market, which can save you some time, money, and regrets.

The market can only move in 3 directions, just know where it is from week to week...

Good luck

Attached Image (click to enlarge)
Click to Enlarge Name: 2021-09-30_9-56-24.jpg Size: 423 KB
It takes a lot for me to IGNORE you, but you can try.
  • #2,452
  • Sep 29, 2021 8:51pm Sep 29, 2021 8:51pm
Quoting Erebus
{quote} It can return phenomenal results on the right week, absolutely... But it will eat your account on other weeks... That's why I just recommend using it as an ANALYSIS method... When you see a setup happening, other price action, strong & weak, fundamental situation and the stars lined up together... Then you hit that pair(s) as hard as you can; it won't even happen every week, but when it does, usually on correlated pairs. Also, it can help make the decision to stay out of the market, which can save you some time, money, and regrets. The market...
I agree the stop loss rule is fearsome for this method
Learning a lot on forex trading and i think i'm starting to connect the dots !
It all make sense when learning but once in front of the chart i'm just lost, not even confident to determine the current trend sometimes
Thanks for your feedback !
  • #2,453
  • Edited Dec 7, 2021 6:14am Dec 6, 2021 4:52pm | Edited Dec 7, 2021 6:14am
What am I missing? My screenshot does not display. Using "Upload from device" option, same as I've used since 2010???

Was attempting to show the fib settings I've found useful.

Entry level @ 14% either side of MonTue range.

TP is 50% either side of MonTue range.

SL is 33% level, back inside of range.

TP= to 36%

SL= to 47%

Most testing I've done (GA & GU) show an overall profit of approx. 25%. This is quite early to go all in on these numbers. But worth further evaluation.
  • #2,454
  • Dec 8, 2021 8:14am Dec 8, 2021 8:14am
Quoting diamonddbw
What am I missing? My screenshot does not display. Using "Upload from device" option, same as I've used since 2010??? Was attempting to show the fib settings I've found useful. Entry level @ 14% either side of MonTue range. TP is 50% either side of MonTue range. SL is 33% level, back inside of range. TP= to 36% SL= to 47% Most testing I've done (GA & GU) show an overall profit of approx. 25%. This is quite early to go all in on these numbers. But worth further evaluation.
++++++++++++++++++++++++++++++++++++++++

This hard stuff. After THOROUGHLY reviewing previous testing, the numbers are still positive, But not by much. Pairs I've tested, going back 40 weeks each, are; GU, GA, & Gchf.

• I eliminated large ranges. On GA, ranges over 180, GU & GChf ranges over 125. On all pairs, trades were closed prior to end of week. Most of those, were in a basic break even range.

• I did change Stop Loss levels to 30%, from 33%, as I noticed that when price reverses a normal amount, it rarely reaches 30%. If price goes beyond 30%, it's usually by quite a lot. It doesn't appear that using a larger SL, makes much sense.

• Another change is trailing the SL (once only). If price makes it half way to TP, my testing moves SL from 44 to 28(14% inside range). 44 being the distance from entry, at 14% beyond MT range, back to 30% inside range.
+++++++++++++++++++++++++++++++
  • #2,455
  • Mar 30, 2022 6:34am Mar 30, 2022 6:34am
This place is quiet? is the strategy no longer viable? I think there is more that can be derived from this strategy. Thanks for all who have contributed. My first contribution will be using the channel as a support or resistance for the coming week, monitor the movement of the channel, it can good predictor of bias.
D labour of a fool wearieth him cos he doesn't know how to enta d city
  • #2,456
  • Mar 30, 2022 3:22pm Mar 30, 2022 3:22pm
Anybody still trading this strategy?
  • #2,457
  • Mar 30, 2022 8:54pm Mar 30, 2022 8:54pm
Quoting ogbuefi1
Anybody still trading this strategy?
I have stated a few times in this thread that I only use this as an analysis method, from which a trade may or may not be taken considering other price action events.

For example, CONSOLIDATION

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  • #2,458
  • Mar 30, 2022 9:00pm Mar 30, 2022 9:00pm
This is quite possibly the best-missed trade opportunity of the week

Attached Image (click to enlarge)
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It takes a lot for me to IGNORE you, but you can try.
  • #2,459
  • Mar 31, 2022 12:43pm Mar 31, 2022 12:43pm
Nice one Erebus, this can be a potential setup to be traded week in week out...look for Mo-Tue h&l not broken within the previous week and look to trade it on break out in the coming week.

Thank you for sharing.
D labour of a fool wearieth him cos he doesn't know how to enta d city
  • #2,460
  • Apr 5, 2022 7:27pm Apr 5, 2022 7:27pm
Many pairs have already reached their weekly average range, notably the AUD pairs; however, that doesn't mean they will stop there, and watch the price action.

The best I can see right now is the EURUSD, it has room to move, and has broken some recent supports; as long as the USD continues with strength and EUR remains weak, good to go.

Conversely, the USDCHF is ready to long, along with some JPY pairs, look at USDJPY of course.

Good Luck

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It takes a lot for me to IGNORE you, but you can try.
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