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

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Trading Made Simple(r)

  • #6,881
  • Sep 5, 2021 3:45pm Sep 5, 2021 3:45pm
Quoting RobinHood
{quote} Based on these 144 trades, it would be wise to also calculate these other things: 1. What your average winning trade is, and what your average losing trade is...in pips? 2. What your largest winning trade is, and what your largest losing trade is...in pips? 3. What is the most number of winning trades in a row, and the most number of losing trades in a row? 4. What is the largest drawdown in pips? For example, if you are ahead 1,000 pips, and you lose 300 pips before you cross back above 1,000 pips, your largest drawdown is 30%. 5. What...
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File Type: pdf EURUSD M15 BACKTEST 0034.pdf   74 KB | 704 downloads
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Sorry , I'm not a computer geek
  • #6,882
  • Sep 5, 2021 6:19pm Sep 5, 2021 6:19pm
Quoting trade1969
{quote} {image}{image}Sorry , I'm not a computer geek
Thank you for posting the pdf, I found it to be VERY helpful.

The 2 things that stood out the most for me were:

1. 1 month return: 174.18%

That's astounding!

2. 9.51 Profit Factor.

"Profit Factor is simply defined as gross profits divided by gross losses. That’s it in a nutshell, but sometimes the simplest things hold the most value. So let’s imagine your trading system’s gross profit for the past year was $40,000 and your gross losses were $20,000. Your Profit Factor would be 2. ($40k / $20k = 2). The formula is simply giving you a reading as to the difference between your system’s gains as opposed to its losses.

A Profit Factor above 2 is outstanding. Obviously, the larger the number is, the better. For example: a Profit Factor of 3 means your net gains were 3 times greater than your net losses, and anything above 3 is unheard of."

Quoted from....

https://tradingmarkets.com/recent/wh...20unheard%20of.
Always a Student, Never a Master - Emulate What Works
  • #6,883
  • Sep 6, 2021 12:50am Sep 6, 2021 12:50am
Quoting RobinHood
{quote} Thank you for posting the pdf, I found it to be VERY helpful. The 2 things that stood out the most for me were: 1. 1 month return: 174.18% That's astounding! 2. 9.51 Profit Factor. "Profit Factor is simply defined as gross profits divided by gross losses. That’s it in a nutshell, but sometimes the simplest things hold the most value. So let’s imagine your trading system’s gross profit for the past year was $40,000 and your gross losses were $20,000. Your Profit Factor would be 2. ($40k / $20k = 2). The formula is simply giving you a reading...
Thank you for your time.Do you think i made a mistake at some point?Your opinion is very important to me.
  • #6,884
  • Sep 6, 2021 2:03am Sep 6, 2021 2:03am
I would like to have your opinions about my trading.I'm bearish on USDCAD.I use sell-stop orders in case everything goes wrong.As long as it falls I will continue to make small profits until I catch the target.(If my analysis is corect)The two bands are montly S/R areas.
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  • #6,885
  • Sep 6, 2021 8:47am Sep 6, 2021 8:47am
Quoting trade1969
{quote} Thank you for your time.Do you think i made a mistake at some point?Your opinion is very important to me.
I just looked at the pdf again. I didn't see anything wrong. But keep doing what you are doing and keep us posted. The results over time will likely be very interesting.
Always a Student, Never a Master - Emulate What Works
  • #6,886
  • Sep 6, 2021 8:53am Sep 6, 2021 8:53am
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  • #6,887
  • Sep 6, 2021 9:12am Sep 6, 2021 9:12am
Quoting trade1969
I would like to have your opinions about my trading.I'm bearish on USDCAD.I use sell-stop orders in case everything goes wrong.As long as it falls I will continue to make small profits until I catch the target.(If my analysis is corect)The two bands are montly S/R areas.{image}
Just let the indicators tell you what to do. S/R is only correct about 1/2 of the time in my opinion, that's why I don't talk about it.

Personally, I do everything I can not to allow myself to develop a longer term opinion as to which direction a market is going. I honestly only look at, and only care about which direction the "one time frame higher" is going.

The reason is (for example), if I am trading the Daily, then I only look at the Weekly. If I also look at the Monthly and it's going in the opposite direction of the Daily and the Weekly, then my judgement becomes clouded, and my confidence declines significantly. Remember, the Daily and the Weekly always turn direction before the monthly.

BUT, me doing it my way does not make the way you are doing it wrong by any means because the way you are doing it is working for you, and that's really all that matters.
Always a Student, Never a Master - Emulate What Works
  • #6,888
  • Sep 6, 2021 9:22am Sep 6, 2021 9:22am
DAILY OPEN 21/8 CLOSE TODAY
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  • #6,889
  • Sep 6, 2021 9:35am Sep 6, 2021 9:35am
Quoting RobinHood
{quote} Just let the indicators tell you what to do. S/R is only correct about 1/2 of the time in my opinion, that's why I don't talk about it. Personally, I do everything I can not to allow myself to develop a longer term opinion as to which direction a market is going. I honestly only look at, and only care about which direction the "one time frame higher" is going. The reason is (for example), if I am trading the Daily, then I only look at the Weekly. If I also look at the Monthly and it's going in the opposite direction of the Daily and the...
Thanks for answering me.I take S/R into account only when they converge with the other indicators. And only the monthly and weekly MAIN swing highs& lows.Νever else.
  • #6,890
  • Sep 6, 2021 11:24am Sep 6, 2021 11:24am
Does anyone have the template also for MT5 by chance?
  • #6,891
  • Sep 6, 2021 2:48pm Sep 6, 2021 2:48pm
Quoting trade1969
Vorrei avere le vostre opinioni sul mio trading.Sono ribassista su USDCAD.Uso ordini sell-stop nel caso in cui tutto vada storto.Finché cadrà continuerò a fare piccoli profitti fino a quando Prendo il bersaglio. (Se la mia analisi è corretta) Le due bande sono aree S/R mensili.{image}
hello TRADE1969 and congratulations for the results.
could you explain us your entry and exit rules? Could you repeat them please?
can you share your template?
  • #6,892
  • Sep 6, 2021 4:01pm Sep 6, 2021 4:01pm
Quoting Eod
{quote} hello TRADE1969 and congratulations for the results. could you explain us your entry and exit rules? Could you repeat them please? can you share your template?
It is very easy.First go to post 1.Read the exit and entry rools.2.In post 1you will find also the templates.3.Read all posts written by Robinhood and Emmanuel 7788.3. Start practising and post your trades here with your questions -if you have-.4.On your free time bedween your trades keep reading all posts written by other members. Stay focus at the method and before you notice it you will profitable.
  • #6,893
  • Sep 6, 2021 4:06pm Sep 6, 2021 4:06pm
Quoting trade1969
{quote} It is very easy.First go to post 1.Read the exit and entry rools.2.In post 1you will find also the templates.3.Read all posts written by Robinhood and Emmanuel 7788.3. Start practising and post your trades here with your questions -if you have-.4.On your free time bedween your trades keep reading all posts written by other members. Stay focus at the method and before you notice it you will profitable.
https://www.forexfactory.com/thread/...1#post13680361
  • #6,894
  • Edited 10:27pm Sep 6, 2021 10:12pm | Edited 10:27pm
Quoting trade1969
{quote} https://www.forexfactory.com/thread/...1#post13680361
Ok, tks.
can you explain 0n high tf, what is the analisys the you make? For example for GbpUsd...Please?
  • #6,895
  • Sep 6, 2021 10:50pm Sep 6, 2021 10:50pm
Quoting Eod
{quote} Ok, tks. can you explain 0n high tf, what is the analisys the you make? For example for GbpUsd...Please?
1.If you get a signal on 4H chart for example short,then check the Daily to see if you have the same sinal.If not,stepout and try to find another trade.
  • #6,896
  • Sep 7, 2021 3:29am Sep 7, 2021 3:29am
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  • #6,897
  • Sep 7, 2021 4:20am Sep 7, 2021 4:20am
Has anyone took any 4H trades this week so far? It seems many pairs are in the process of reversing with 4H entries presenting themselves just now however no confirmation of reversal on the daily chart yet. I wondered if people were taking the 4H crossover ahead of the daily crossover?
  • #6,898
  • Sep 7, 2021 2:58pm Sep 7, 2021 2:58pm
Quoting trade1969
{image}
Good job!

How are you determining your lot size? I wonder because it appears to vary quite a bit from trade to trade sometimes.
Always a Student, Never a Master - Emulate What Works
  • #6,899
  • Sep 7, 2021 4:25pm Sep 7, 2021 4:25pm
Hello, you have the stoclastic color indicator for MT5. Thanks
  • #6,900
  • Sep 8, 2021 2:55am Sep 8, 2021 2:55am
Quoting RobinHood
{quote} Good job! How are you determining your lot size? I wonder because it appears to vary quite a bit from trade to trade sometimes.
Well,I 'm trying different money managment methods at different accounts,so i redefine the lot size accordingly.
In my live 1D account i use 2% risk (1+1 POSITIONS),with 1.5 ATR SL,1 ATR 1st T/P and open the 2nd trade.Trailing stop at 2ATR Not very often my S/L gets hited.
All backtests posted are made in the same way.
I my live 15 M account i divide 20% of my trading capital by 25 and the number resulting from division is my lot size.(25 is the number of my potential loss).
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