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Simple and profitable trading style

  • #4,861
  • Sep 5, 2021 7:20am Sep 5, 2021 7:20am
With stochastic we would be able to filter out real breakout. Am currently on EURNZD short, 1hr. Stochastic was on oversold region when the 1.67066 was broken
Make all mistakes in demo and rain in pips in live account
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  • #4,862
  • Sep 5, 2021 8:42am Sep 5, 2021 8:42am
Quoting 9jatrader
With stochastic we would be able to filter out real breakout. Am currently on EURNZD short, 1hr. Stochastic was on oversold region when the 1.67066 was broken
EURNZD, Confluence understanding.
1. Weekly chart price close below Middle BB line. (MBB) = 1 score.
2. Daily chart close below Middle BB Line = 1 score.
3. Daily Stochastic is below 20 = 1 score
4. H4 is below BB band out side= 1 score
5. H4 Stochastic is below 20 = 1 score
Daily chart price don't break below BB yet & price close below support level.
It is probably break out of the support.

In my opinion according to your system, Your sell entry got 5.5 out of 6 score. I don't know your entry.
But EN in choppy conditions in Weekly chart. According to your system you got a sell signal 5/8/2021 in the daily chart.
MA provides the market's current direction and strength.
  • #4,863
  • Sep 5, 2021 10:24am Sep 5, 2021 10:24am
Quoting hasib
{quote} EURNZD, Confluence understanding. 1. Weekly chart price close below Middle BB line. (MBB) = 1 score. 2. Daily chart close below Middle BB Line = 1 score. 3. Daily Stochastic is below 20 = 1 score 4. H4 is below BB band out side= 1 score 5. H4 Stochastic is below 20 = 1 score Daily chart price don't break below BB yet & price close below support level. It is probably break out of the support. In my opinion according to your system, Your sell entry got 5.5 out of 6 score. I don't know your entry. But EN in choppy conditions in Weekly chart....
I love the daily. It broke below 1.66576 support while Mr Stochastic was resting on the oversold region . It means I have to hold to the position
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #4,864
  • Sep 5, 2021 10:36am Sep 5, 2021 10:36am
Quoting hasib
{quote} EURNZD, Confluence understanding. 1. Weekly chart price close below Middle BB line. (MBB) = 1 score. 2. Daily chart close below Middle BB Line = 1 score. 3. Daily Stochastic is below 20 = 1 score 4. H4 is below BB band out side= 1 score 5. H4 Stochastic is below 20 = 1 score Daily chart price don't break below BB yet & price close below support level. It is probably break out of the support. In my opinion according to your system, Your sell entry got 5.5 out of 6 score. I don't know your entry. But EN in choppy conditions in Weekly chart....
I got into EN on 2/9/2021 on 1hr when it broke below 1.67066 support
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #4,865
  • Sep 5, 2021 10:55am Sep 5, 2021 10:55am
Quoting 9jatrader
{quote} 146 pips down already{image}
Still holding on because it has not completed its job
Make all mistakes in demo and rain in pips in live account
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  • #4,866
  • Sep 5, 2021 11:27am Sep 5, 2021 11:27am
Going through the charts one would see that even Fakeout happens even with Stochastic on oversold/overbought. Sometimes I have to wait for one candle after the breakout, so that I don't ambushed in my own strategy
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  • #4,867
  • Sep 5, 2021 11:43am Sep 5, 2021 11:43am
For lover/intending lovers of sexy stochs here was the beginninghttps://www.forexfactory.com/thread/...tor-profitably
Make all mistakes in demo and rain in pips in live account
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  • #4,868
  • Sep 5, 2021 11:44am Sep 5, 2021 11:44am
You would see some breakout charts there
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #4,869
  • Sep 5, 2021 12:58pm Sep 5, 2021 12:58pm
Quoting 9jatrader
{quote} I got into EN on 2/9/2021 on 1hr when it broke below 1.67066 support
Ok I thought you use daily chart to enter the market.

BTW I am predicting you enter any of this 3 candle. Previous day price was in narrow range, You anticipate break out of the range. Good concept.
probably number 3 line is your entry.
Attached Image (click to enlarge)
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MA provides the market's current direction and strength.
  • #4,870
  • Sep 6, 2021 2:39am Sep 6, 2021 2:39am
Quoting hasib
{quote} Ok I thought you use daily chart to enter the market. BTW I am predicting you enter any of this 3 candle. Previous day price was in narrow range, You anticipate break out of the range. Good concept. probably number 3 line is your entry. {image}
You're very correct. I got in at the marked position. I have to wait for one more candle after the breakout. If you have been trading breakout, you would observe that sometimes we enter immediately after the breakout the market would reverse. Am very careful with breakout even with stochastic supported ones. Am still holding on to the position,
Make all mistakes in demo and rain in pips in live account
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  • #4,871
  • Sep 6, 2021 2:52am Sep 6, 2021 2:52am
Quoting 9jatrader
{quote} You're very correct. I got in at the marked position. I have to wait for one more candle after the breakout. If you have been trading breakout, you would observe that sometimes we enter immediately after the breakout the market would reverse. Am very careful with breakout even with stochastic supported ones. Am still holding on to the position,
Some people are specialize in Fake out, some people specialize Break out. Both group make money.

There are few pairs where Break out works well than others. Break out trading is interesting because we know we will get out with small loss when we are wrong. 30% win rate is good enough to make nice profit as a Break out trader.
Mr. Stochastic always help us to pick good level to trade.
MA provides the market's current direction and strength.
  • #4,872
  • Sep 6, 2021 4:00am Sep 6, 2021 4:00am
No signal so far this morning
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  • #4,873
  • Sep 6, 2021 9:01am Sep 6, 2021 9:01am
CADCHF has broken resistance while Mr Stochastic is still on overbought, on 30 mins. chart. Happy trading
Make all mistakes in demo and rain in pips in live account
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  • #4,874
  • Sep 6, 2021 9:05am Sep 6, 2021 9:05am
Quoting 9jatrader
CADCHF has broken resistance while Mr Stochastic is still on overbought, on 30 mins. chart. Happy trading
I already have two running positions on it. The breakout helps me to hold on to the positions
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #4,875
  • Sep 6, 2021 9:23am Sep 6, 2021 9:23am
Quoting 9jatrader
{quote} You're very correct. I got in at the marked position. I have to wait for one more candle after the breakout. If you have been trading breakout, you would observe that sometimes we enter immediately after the breakout the market would reverse. Am very careful with breakout even with stochastic supported ones. Am still holding on to the position,
On EURCAD, there was one candle that broke above the resistance before the last one. As I said before I wait for another candle(s) after breakout to filter fakeout.
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #4,876
  • Sep 6, 2021 9:26am Sep 6, 2021 9:26am
Quoting 9jatrader
{quote} 146 pips down already{image}
Still trapped between middle band and lower band
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #4,877
  • Sep 6, 2021 9:33am Sep 6, 2021 9:33am
EURGBP resistance breakout on 30 mins, while stchs is on overbought
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #4,878
  • Sep 6, 2021 9:37am Sep 6, 2021 9:37am
Quoting 9jatrader
{quote} 146 pips down already{image}
Support breakout while stochs is still resisting on oversold region. I wait for one more bearish candle before pressing the trade - adding position
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #4,879
  • Sep 6, 2021 1:25pm Sep 6, 2021 1:25pm
It's interesting to see that two time frames are on overbought- CHFJPY, 30 mins and 1hr
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #4,880
  • Sep 6, 2021 1:42pm Sep 6, 2021 1:42pm
Quoting 9jatrader
EURGBP resistance breakout on 30 mins, while stchs is on overbought
I have open a demo account just to trade this simple strategy.
This is my first trade at EurGBP. Daily chart sell.
Weekly chart price is in the lower side of the BB.
Daily chart Stoch generate a support level and price is probably move lower. It is not A++ set up. But I took it.

Suggestions, criticism, are welcome.

I will trade only daily chart. NO LTF

Lets see how this strategy work for me.
Attached Image (click to enlarge)
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MA provides the market's current direction and strength.
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