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Daily chart trading - simple entry and exit criteria

  • #61
  • Jan 2, 2022 12:55pm Jan 2, 2022 12:55pm
from Tom`s website I understand that only the initial trade is according to the 4-bar fractal........all the scaling-in trades after that are 75 pips apart.....the trailing stop is moved up/down as the trend progresses and is 75 pips away if a new trade is initiated....in this way, only the last trade is at risk......
  • #62
  • Jan 2, 2022 11:26pm Jan 2, 2022 11:26pm
Quoting PaulMF
{quote} Added small profit to BE in the version attached. Not sure about what you are after in the second suggestion. Can you develop it further? {file}
Are there any positive results with EA? From 22:00 GMT to 23:05 GMT, entry must be avoided. This is a period of several-fold increase in the spread.
Please excuse the bad English via Google Translate.
  • #63
  • Jan 3, 2022 8:27am Jan 3, 2022 8:27am
In my case, I have yet to test the EA with more time, with the tests done they do not give me a clear advantage, taking into account the initial spread of the candles.
  • #64
  • Jan 3, 2022 10:51pm Jan 3, 2022 10:51pm
Me gotta be really very, very stupid!
Never thought about such a simple and ingenious idea (for me)!
This is like a gift falling from the skies! Fits exactly like a correct sized glove on my trading style!
Will order it as an indicator very soon! Just need to adapt and set the rules for the signals a little bit, as i see some room for development. Don't know if this development having in mind, will be more or less profitable, but will find out soon enough. Still, in the way I see it, it is a monster already!
If the signal is taken after a break out of the signal candle? Finding it it better to filter the false flips, the price algo generates simply to stupid the unsure and doubtful trend traders...
Thanks a million!
Maadik Hugiis. IQ 69.
  • #65
  • Jan 3, 2022 11:02pm Jan 3, 2022 11:02pm
Quoting gerval
In my case, I have yet to test the EA with more time, with the tests done they do not give me a clear advantage, taking into account the initial spread of the candles.
this is t-rex, mate! this is sooo good (the method, dunno about the EA you are talking about, me guess)!

don't give up on that one fast!

just think of the so many ways you can develop it further?

you are kicking you absolute good luck... far away from yourself!

all people are born with equal brains. how more than 90% of them end up as deadly stupid then? it is how one is using own brain... that makes all the difference in between us.

absolutely the same is valid for the good and the bad luck. we have, every single one of us, equal shares of both good and bad luck. how do we use the good and the bad luck makes a big difference in between us, too.

The Nature is simply JUST. VERY JUST...
Maadik Hugiis. IQ 69.
  • #66
  • Edited 9:23am Jan 4, 2022 4:49am | Edited 9:23am
Sample Failed scenario of 3Bar setup in a downtrend (highlighted). GBPUSD - M15.
Take advantage of the red bearish candle that engulfs the 3rd bar of the 3bar pattern. The engulfing red bar indicates some incoming momentum to the downside. I had actually entered on a different PA strategy/TF. But just to show a sample "3bar play" failed scenario in a downtrend and possible "Entry - SL - TP" oppurtunities. this also gives me more advantage and confidence to hold on to my existing sell position(s).
But best to identify/spot these setups on the higher timeframe H1, H4, D1. for better results.

Apologies for ink write up.
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Grit; Knowledge; Right Mindset; All you need to overcome. KIS!
  • #67
  • Edited Jan 6, 2022 12:29am Jan 5, 2022 11:57pm | Edited Jan 6, 2022 12:29am
Reversal 3Bar pattern. GBPUSD H4. Missed out on the precise entry (arrow) but had to get in based on the momentum of the red bar. Strong RED 3rd bar with lots of momentum at the confluence zone 1.3577 - 1.3590. TP almost hit. Lol
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Grit; Knowledge; Right Mindset; All you need to overcome. KIS!
  • #68
  • Edited 12:28am Jan 6, 2022 12:02am | Edited 12:28am
Quoting pipibrasci
Reversal 3Bar pattern. GBPUSD H4. Missed out on the precise entry but had to get in . Strong RED 3rd bar with lots of momentum at the confluence zone 1.3577 - 1.3590. TP almost hit. Lol {image}
Updated.

My Trades closed. Target hit including TP zone smashed. .
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Grit; Knowledge; Right Mindset; All you need to overcome. KIS!
  • #69
  • Jan 10, 2022 1:00pm Jan 10, 2022 1:00pm
Quoting disciplined
.... baseline start date : 16 dec 21 24 dec : +3.2%
Hi Disciplined, Ive been following this thread lately, I was wondering if you have any updates about the stats from your first post. Any more exciting results hopefully?

Best regards
BT
  • #70
  • Jan 10, 2022 1:11pm Jan 10, 2022 1:11pm
Quoting BataviaTrade
{quote} Hi Disciplined, Ive been following this thread lately, I was wondering if you have any updates about the stats from your first post. Any more exciting results hopefully? Best regards BT
pipi is killing them already!

this is so exciting technique. and the three pairs hedging idea? doing the planning now. not very excited to enter the buys based on a grid or whatever. there is must be a logical buy condition first, to be in present, to enter the buy(s). same for the sell(s). like the current three candles reversals or anything similar. this will reduce the possible draw-down. one more thing is being more dynamic and if there is a logical sell condition in present? shut down the buys, if the rate goes unhealthy behind their backs... this is a big whale! huge blue whale!
Maadik Hugiis. IQ 69.
  • #71
  • Jan 11, 2022 6:18am Jan 11, 2022 6:18am
GBPUSD H4
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Grit; Knowledge; Right Mindset; All you need to overcome. KIS!
  • #72
  • Jan 11, 2022 7:59am Jan 11, 2022 7:59am
Quoting pipibrasci
GBPUSD H4 {image}

SL Hit!
Grit; Knowledge; Right Mindset; All you need to overcome. KIS!
  • #73
  • Jan 12, 2022 2:25am Jan 12, 2022 2:25am
In regards to Post #3

https://www.forexfactory.com/thread/...6#post13828596

Someone asked if I had any success?

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Profit every day
It takes a lot for me to IGNORE you, but you can try.
  • #74
  • Jan 12, 2022 2:43am Jan 12, 2022 2:43am
Profit every day
Hello, how do you define the SL and TP levels? Thanks
  • #75
  • Jan 12, 2022 2:57am Jan 12, 2022 2:57am
Quoting iDentist
Profit every day Hello, how do you define the SL and TP levels? Thanks
Stop Loss is when the pain of losing 1 more dollar is too much

Take Profit when it's BIG, or looks like reversal usually at US sessions

It takes a lot for me to IGNORE you, but you can try.
  • #76
  • Jan 12, 2022 3:19am Jan 12, 2022 3:19am
That is, at the opening of the daily candle, enter with a small stop and exit before the start of the American session?))))
  • #77
  • Jan 12, 2022 5:36am Jan 12, 2022 5:36am
Quoting iDentist
That is, at the opening of the daily candle, enter with a small stop and exit before the start of the American session?))))
I don't know what your trading style is or how big is your account.

Do you look for reversals at tops and bottoms, or do you trade trends?

Study the charts, what do you see?

Does any PRICE ACTION make sense to you?

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It takes a lot for me to IGNORE you, but you can try.
  • #78
  • Jan 12, 2022 7:19am Jan 12, 2022 7:19am
{quote} I don't know what your trading style is or how big is your account. Do you look for reversals at tops and bottoms, or do you trade trends? /quote]

I understand you perfectly. I am trying to decide for myself in what form to try to put this strategy on a new pamm account. With refills on each signal or with fixed targets? And the presence of 200 ema is also embarrassing. Is it really necessary? I myself trade on daily charts using ordinary movings. Thank you, Erebus
  • #79
  • Jan 12, 2022 12:28pm Jan 12, 2022 12:28pm
Quoting Erebus
In regards to Post #3 https://www.forexfactory.com/thread/...6#post13828596 Someone asked if I had any success? {image} Profit every day
Well done. It won't get any greener than that. I suppose this is the trading strategy you are going to execute for the rest of your life? Not many reasons not to.

Looking forward to more of your work! BTW what period is that Moving Average you are using? It is spot on.

edit: noticed in your later post it's 200 EMA.

BT
  • #80
  • Jan 13, 2022 2:26am Jan 13, 2022 2:26am
Quoting BataviaTrade
{quote} Well done. It won't get any greener than that. I suppose this is the trading strategy you are going to execute for the rest of your life? Not many reasons not to. Looking forward to more of your work! BTW what period is that Moving Average you are using? It is spot on. edit: noticed in your later post it's 200 EMA. BT
This one is against the trend, but NZD so strong and USD so weak, could be a change.

You can see, sometimes the best signal when the 200 EMA is crossed and closed.

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