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

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Trading Made Simple(r)

  • #7,461
  • Feb 10, 2022 2:23am Feb 10, 2022 2:23am
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We got the first T.P Now we move our S.L to brakeeven
  • #7,462
  • Feb 10, 2022 2:31am Feb 10, 2022 2:31am
Quoting trade1969
{image}We got the first T.P Now we move our S.L to brakeeven
How do you set TP? 1:1 and 1:2 ??
MetaTrader 4 - so many advantages.
  • #7,463
  • Feb 10, 2022 3:13am Feb 10, 2022 3:13am
Quoting RiskFighter
{quote} How do you set TP? 1:1 and 1:2 ??
Attached File(s)
File Type: ex4 NNFX_Trade_Assistant_MT4_v10.12.ex4   107 KB | 462 downloads
I have found this E.A for free.Is not perfect but gives fast order execution.
  • #7,464
  • Feb 10, 2022 3:31am Feb 10, 2022 3:31am
Attachment gFirst T.P ok again
  • #7,465
  • Feb 10, 2022 3:37am Feb 10, 2022 3:37am
Quoting trade1969
{quote} {file}I have found this E.A for free.Is not perfect but gives fast order execution.
OK. NNFX stands for No Nonse - a trader who call him self VP. He is not to my liking and I do not use any of his stuff. I simply disagree with nearly anything he stand for. For instance he talks about "The Dirty Dusine", which is 12 "old" indicators which do not work anymore and if a trader use those he is a fool. Amongst those indicators are RSI and Stochastics whome are very powerfull in our thread.

But then again - I am a grumphy old man - I do know that ;-)
MetaTrader 4 - so many advantages.
  • #7,466
  • Feb 10, 2022 3:43am Feb 10, 2022 3:43am
Quoting RiskFighter
{quote} OK. NNFX stands for No Nonse - a trader who call him self VP. He is not to my liking and I do not use any of his stuff. I simply disagree with nearly anything he stand for. But then again - I am a grumphy old man - I do know that ;-)
I dont know him.I just use this E.A Gives me speed in 15 M timeframe.Nothing more.If you know the truth i m sercing for an E.A which will open automatically three trades with one button.
  • #7,467
  • Feb 10, 2022 3:51am Feb 10, 2022 3:51am
What was wrong on this short continuation trade? Any ideas? (HA was red too, it's not on the chart).
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  • #7,468
  • Feb 10, 2022 4:25am Feb 10, 2022 4:25am
nzdusd 4h
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  • #7,469
  • Feb 10, 2022 5:07am Feb 10, 2022 5:07am
Quoting trade1969
{quote} I dont know him.I just use this E.A Gives me speed in 15 M timeframe.Nothing more.If you know the truth i m sercing for an E.A which will open automatically three trades with one button.
I am working at such a robot. But I keep getting distracted by other ideas. If I at some point in the future get it done, then I will quote you.
MetaTrader 4 - so many advantages.
  • #7,470
  • Feb 10, 2022 5:09am Feb 10, 2022 5:09am
Quoting trade1969
{quote} I dont know him.I just use this E.A Gives me speed in 15 M timeframe.Nothing more.If you know the truth i m sercing for an E.A which will open automatically three trades with one button.
Maybe this will help, Scripts I found on FF I think. Very easy to change to your liking. Just set a hotkey on each !

Thank you for posting your trades I am learning a lot Thanks

quicktrailng_new
you can setup on a chart and it will manage your trade to you settings - DOES NOT WORK WITH SYMBOLE CHANGER - you need to open a chart that your trade is on - it wil pick up on your trade and manage it. I just load n template with the EA on and bombs away !
Attached File(s)
File Type: mq4 Multiorder_Buy2.mq4   4 KB | 408 downloads
File Type: mq4 Multiorder_Sell2.mq4   2 KB | 408 downloads
File Type: mq4 quicktrailng_new.mq4   18 KB | 363 downloads
  • #7,471
  • Feb 10, 2022 5:15am Feb 10, 2022 5:15am
Quoting oohoo
What was wrong on this short continuation trade? Any ideas? (HA was red too, it's not on the chart). {image}
The only thing I can see is that the low was at same level as a spike 3 bars before. So it did not break the level. If you had waited to the next bar close it would have been an indecission bar and at that time the clue came not to trade the signal.

But I would have taken the trade also.
MetaTrader 4 - so many advantages.
  • #7,472
  • Edited 5:37am Feb 10, 2022 5:24am | Edited 5:37am
Quoting senkyoshi
2nd trade of the day. For your critique and comments: Reasons for entering buy: RSI(14) above 50 Channel and pointing upward Daily RSI above 50 Stochs above 50 and pointing upward HMA (12) green for continuation The current bar price of move above the high of previous bar (signal bar) Heikin Ashi is blue Reservations for entering: Maybe some resistance from Jan 26 and 27th bars Stop loss: Bottom of two bars back {image}
I would consider this a continuation trade because of the following:
1. The RSI is still above the 50 line
2. The short term Stoch dropped below the 50 line and came back up.
3. The HMA went pink, stayed above the Yellow EMA and turned back green.
4. Candle went from red to blue.

So, I would have entered on the close on the blue candle right after the red one (so, 3 candles earlier). I circled it in white but I'd like to see what Robinhood thinks.

My only qualm with it, is it is the 2nd continuation in that trend, but I still would have entered.

Like Robinhood has stated, S/R levels are right 50% of the time. I honestly don't pay attention to S/R (unless maybe it's on the Daily or Weekly TF), News, etc. If the indicators tell me to go long, I go long. If I'm wrong, I only risked 1% and I live to fight another day. If I am right, I just got 1.5-2:1 RR. Like RH has kind of said, "you can be wrong 70% of the time and become very wealthy"

EDIT: Not sure why my photos aren't loading...
Attached Image (click to enlarge)
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Remember, the market never lies. It is only we who lie to ourselves.
  • #7,473
  • Feb 10, 2022 5:24am Feb 10, 2022 5:24am
Quoting trade1969
{quote} {file}I have found this E.A for free.Is not perfect but gives fast order execution.

Thanks for the EA will give it ago.
  • #7,474
  • Feb 10, 2022 5:27am Feb 10, 2022 5:27am
Quoting RiskFighter
{quote} Here it is. There were a lot of teasing in this little fellow! It works as changing the background colour when Hull made a change in colour. It does only test Hull, because RobinHood mentioned this as a good indicator to show a possible continous trade. So when an alarm appear it is up to the trader to check of confluences to his liking are present. A continous trade is when the Hull did change colour shortly - but stayed on the trending side of EMA5 - and then change colour back in the trend direction. It is a robot. (Expert Advisor). Why...

Thank you - have set it up - let see !
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  • #7,475
  • Feb 10, 2022 5:27am Feb 10, 2022 5:27am
Attached Image (click to enlarge)
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First T.P in few minutes
Attached Image (click to enlarge)
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Ok. Its done. Brake even. Stress free trade from so on..
I m will get out when my S.L got hit or when the Stochastic brakes the 100 line or in the first red candle.
What comes first.
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I dont like predictions in the markets but i think this trade has everything it needs for the area of 83.761 if nothing change.
(Play what you see and not what to believe).
  • #7,476
  • Feb 10, 2022 5:36am Feb 10, 2022 5:36am
Quoting Tjp
{quote} Thank you - have set it up - let see ! {image}
Well - it seems like it works in my end. This will be a fantastic time saving tool
MetaTrader 4 - so many advantages.
  • #7,477
  • Feb 10, 2022 6:16am Feb 10, 2022 6:16am
Quoting oohoo
What was wrong on this short continuation trade? Any ideas? (HA was red too, it's not on the chart). {image}
I found that if using an Indicator what do I want to see as a warning/signal from a chart???

OVERBOGHT/OVERSOLD areas, helps my trading decisions, you sold when your Indicator was in an oversold area at that time frame---Having entered there it needed close monitoring. I would have gone into a smaller time frame to assist with directional changes.

That trade went on for 2 hours but had bad signals the longer it went on---your entry looked OK from the chart but once entered, it went ugly, Open/Closes erratic, tails on candles etc etc.

Practise makes you better, better luck next trade oohoo.
  • #7,478
  • Feb 10, 2022 8:18am Feb 10, 2022 8:18am
Quoting btrfx1
{quote} I found that if using an Indicator what do I want to see as a warning/signal from a chart??? OVERBOGHT/OVERSOLD areas, helps my trading decisions, you sold when your Indicator was in an oversold area at that time frame---Having entered there it needed close monitoring. I would have gone into a smaller time frame to assist with directional changes. That trade went on for 2 hours but had bad signals the longer it went on---your entry looked OK from the chart but once entered, it went ugly, Open/Closes erratic, tails on candles etc etc. Practise...
About the over-x areas:

  1. On the long trends the price can run for quit a while in the over-x areas. This is where the really big money are.
  2. Many people think that the traditional behaving in oversold and overbought areas are relevant in stock trading, not so much in Forex trading.
  3. This strategy is about trading when the stocastich is running fast towards the over-x and then retrade when it is going further. This continous trade will often be in the over-x area.

So I am not afraid over the over-x. Just be carefull. Which also is what you say.

MetaTrader 4 - so many advantages.
  • #7,479
  • Feb 10, 2022 8:50am Feb 10, 2022 8:50am
Quoting RiskFighter
{quote} Here it is. There were a lot of teasing in this little fellow! It works as changing the background colour when Hull made a change in colour. It does only test Hull, because RobinHood mentioned this as a good indicator to show a possible continous trade. So when an alarm appear it is up to the trader to check of confluences to his liking are present. A continous trade is when the Hull did change colour shortly - but stayed on the trending side of EMA5 - and then change colour back in the trend direction. It is a robot. (Expert Advisor). Why...

Hi RiskFighter

I have NO joy regarding - I even loaded the HMA on to the charts its self's.

Maybe something missing that did not come with

Thanks
  • #7,480
  • Feb 10, 2022 9:20am Feb 10, 2022 9:20am
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