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Trading Made Simple 151,872 replies

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

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Trading Made Simple(r)

  • #7,341
  • Feb 1, 2022 1:16pm Feb 1, 2022 1:16pm
Quoting RiskFighter
{quote} Please be more sharp. The question is: Did you develop a method for traders to be profitable or do we have to add our own confluences? That is what nmuscles ask. If so, then he ask people what they do to make the method profitable.
In my opinion, what I presented in Post # 1 is all that a trader needs to be successful as far as entry and exit methods go.

But I also said in Post #1:

"My hope is that other traders will recognize the power of these templates and contribute even more ways to trade them, hopefully in ways even more effective than I have presented, and that they help traders make a lot more money trading the Forex."

And thankfully that has happened, and it will continue to happen.

Here's what my trading charts for trading the Forex look like NOW:

Attached Image (click to enlarge)
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The two lower windows are basically redundant but I like looking at both of them at the same time because I see unique things each window.
Always a Student, Never a Master - Emulate What Works
  • #7,342
  • Feb 1, 2022 3:00pm Feb 1, 2022 3:00pm
Quoting RobinHood
{quote} In my opinion, what I presented in Post # 1 is all that a trader needs to be successful as far as entry and exit methods go. But I also said in Post #1: "My hope is that other traders will recognize the power of these templates and contribute even more ways to trade them, hopefully in ways even more effective than I have presented, and that they help traders make a lot more money trading the Forex." And thankfully that has happened, and it will continue to happen. Here's what my trading charts for trading the Forex look like NOW: {image}...
Super. It is very clear. We should be able to make profit using the method of RH. And I also believe that. But of cause we must improve - as we always should. I look forward to my testing and to imply my own toolbox which is quit comprehensive.
MetaTrader 4 - so many advantages.
  • #7,343
  • Feb 2, 2022 2:39am Feb 2, 2022 2:39am
OK. Once again this morning I were up 2% gain of the account balance and now it is negative. It happens too often.

This week was really just to get going with this strategy. I should get my new trading computer this week, so from Monday I start up 3 identical demos with different exits.

  1. It will run until Hull change colour.
  2. I will risk 2% and set TP at 4%.
  3. I will risk - don't know yet - and exit when the profit i 1 or 2% of the account. And then it will stop trading for the rest of the day.

I believe that 1% will be possible every day. And that gives 20% a month. Why will it work? Because when we take a trade we have found a sweet spot. The indicators gives a nice signal when something happens with the instrument. And that normally gives a peek. Some times it then falls back again, but we don't need much of a peek to get 1% profit.

It is important to add to the strategy that whatever signals you get, you may not trade before the last bar at close exceed the high of the former bars.

I will code a little robot that does the exit automatically at the #3 method. Anyone interested in such a little robot? It will take me 5 minutes which I will find before Monday.

MetaTrader 4 - so many advantages.
  • #7,344
  • Feb 2, 2022 3:05am Feb 2, 2022 3:05am
Quoting RobinHood
{quote} In my opinion, what I presented in Post # 1 is all that a trader needs to be successful as far as entry and exit methods go. But I also said in Post #1: "My hope is that other traders will recognize the power of these templates and contribute even more ways to trade them, hopefully in ways even more effective than I have presented, and that they help traders make a lot more money trading the Forex." And thankfully that has happened, and it will continue to happen. Here's what my trading charts for trading the Forex look like NOW: {image}...
Thanks for your response - and yes I agree the system looks good, and is very visual etc - like you said, its often taking this as a base and then turning it into your own system - it was those subtle tweaks I was interested in for others to recognise when a trade is more probable. I was just looking for commentary, e.g. Do some look at near S/R targets, price action inc double tops/bottoms etc.

I can see adding higher TF does help, but need to practice and analyse a bit more - but like the simplicity of the system, I just need to put more hours in.
  • #7,345
  • Feb 2, 2022 3:06am Feb 2, 2022 3:06am
Quoting stiffdogg06
{quote} Post your entries on your trades and I'm sure Robinhood will critique them. With ~7 indicators, I don't think there is a need to add anymore. The only "extra" indicator I added was the next higher TF RSI. So, if I am trading the 4hr, I add the Daily RSI to my 4hr chart.
Adding the next higher TF RSI - that's interesting - Ive just been looking at the next higher TF in general including bars and overall trend. Are you interested only when RSI above the 50 in support of a trade or will you also take trades when higher TF RSI looks like it's turning above 50 etc?

Thks
  • #7,346
  • Feb 2, 2022 5:28am Feb 2, 2022 5:28am
Quoting RiskFighter
OK. Once again this morning I were up 2% gain of the account balance and now it is negative. It happens too often. This week was really just to get going with this strategy. I should get my new trading computer this week, so from Monday I start up 3 identical demos with different exits. It will run until Hull change colour. I will risk 2% and set TP at 4%. I will risk - don't know yet - and exit when the profit i 1 or 2% of the account. And then it will stop trading for the rest of the day. I believe that 1% will be possible every day. And that...
Post your charts of your entries.
Remember, the market never lies. It is only we who lie to ourselves.
  • #7,347
  • Feb 2, 2022 8:05am Feb 2, 2022 8:05am
Quoting stiffdogg06
{quote} Post your charts of your entries.
They are not done yet. After last post the profit have been more than 4% of the account. But I let them run.
MetaTrader 4 - so many advantages.
  • #7,348
  • Feb 2, 2022 5:54pm Feb 2, 2022 5:54pm
Current trades that are running.
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Remember, the market never lies. It is only we who lie to ourselves.
  • #7,349
  • Feb 2, 2022 6:30pm Feb 2, 2022 6:30pm
Quoting stiffdogg06
Current trades that are running.
Nice.
This has been a choppy week so far. I only entered two trades and lost a little on both.
  • #7,350
  • Edited 11:57pm Feb 2, 2022 9:19pm | Edited 11:57pm
Dear Mr. RobinHood
Thank you for the great trading idea. I've been looking for something like this for a long time. I like that a lot and I think if we follow the rules well we have a very good chance. Here I am still waiting for the next candle to make maybe a sell trade.
What do you think about the support and resistance indicator? Maybe it can also be very helpful for trading decisions.
Thank you so much. It's very helpful to learn from you and all the other people here in this thread.
Regards
Michael.MSA

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Don't trade because you think you have to do something.
  • #7,351
  • Feb 3, 2022 3:08am Feb 3, 2022 3:08am
Quoting Michael.MSA
Dear Mr. RobinHood Thank you for the great trading idea. I've been looking for something like this for a long time. I like that a lot and I think if we follow the rules well we have a very good chance. Here I am still waiting for the next candle to make maybe a sell trade. What do you think about the support and resistance indicator? Maybe it can also be very helpful for trading decisions. Thank you so much. It's very helpful to learn from you and all the other people here in this thread. Regards Michael.MSA {image}
I can tell you. Robinhood think that S/R is right only every other time and he don't use it. I agree. But he also say that he is not the one to decide. If you think that S/R is an important part of your strategy - then it is.

He mention this several times in the thread. You will learn a lot by reading the thread. At least some nice big part of it.
MetaTrader 4 - so many advantages.
  • #7,352
  • Edited 6:11am Feb 3, 2022 5:27am | Edited 6:11am
Quoting Michael.MSA
Dear Mr. RobinHood Thank you for the great trading idea. I've been looking for something like this for a long time. I like that a lot and I think if we follow the rules well we have a very good chance. Here I am still waiting for the next candle to make maybe a sell trade. What do you think about the support and resistance indicator? Maybe it can also be very helpful for trading decisions. Thank you so much. It's very helpful to learn from you and all the other people here in this thread. Regards Michael.MSA {image}
Hi Michael,

Thanks for posting. What RiskFighter said is EXACTLY how I would have responded.
Always a Student, Never a Master - Emulate What Works
  • #7,353
  • Feb 3, 2022 8:16am Feb 3, 2022 8:16am
Hello David.
am from SA and i do have a trading system that i would love people like you to design for me, well i did get the provision where i can write to you privately...hence why i wrote it here...would you give it a shot?
  • #7,354
  • Feb 3, 2022 8:56am Feb 3, 2022 8:56am
Quoting dingani2022
Hello David. am from SA and i do have a trading system that i would love people like you to design for me, well i did get the provision where i can write to you privately...hence why i wrote it here...would you give it a shot?
Thank you for the request, but I no longer write/code trading systems, except occasionally for myself.

Possibly someone else here will see your request and can help you. I suggest that they send you a private message.

Good Luck
Always a Student, Never a Master - Emulate What Works
  • #7,355
  • Feb 3, 2022 8:57am Feb 3, 2022 8:57am
I have a snow day today, so I wanted to play around with lower TF's.

Robinhood, if you were to trade the 15M TF, what higher TF would you use? 1hr?
Remember, the market never lies. It is only we who lie to ourselves.
  • #7,356
  • Feb 3, 2022 9:57am Feb 3, 2022 9:57am
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  • #7,357
  • Feb 3, 2022 10:00am Feb 3, 2022 10:00am
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  • #7,358
  • Feb 3, 2022 10:02am Feb 3, 2022 10:02am
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  • #7,359
  • Feb 3, 2022 10:04am Feb 3, 2022 10:04am
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  • #7,360
  • Feb 3, 2022 10:06am Feb 3, 2022 10:06am
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