More simple is impossible | Page 514 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

SIMPLE EA for a simple method needed!! 2 replies

Trading is this Simple? Finally Explained simple and clearly! 46 replies

More easy is impossible 17 replies

long-run profits impossible with short-term trading? 39 replies

Attachments: More simple is impossible
Exit Attachments

More simple is impossible

  • #10,261
  • Mar 15, 2022 1:47am Mar 15, 2022 1:47am
Quoting Sojourn
{quote} Thanks for the response matmomo, i appreciate it, i will do what you suggest and aim for a daily pip goal,one question i really wanted to ask you is do you look at higher timeframe charts when trading? like 1h 4h daily etc? or do you feel that the renko charts give you all the information you need? thanks again boss.
Hi mate,
you asked me an interesting question.

In my opinion we have two choices:
- We trade in search of trades of 10 / 20 pips.
In this case we can trade blindly, without knowing how the market will evolve.
At least twice a day we have patterns that can guarantee us 10 or 20 pips.

- We trade by looking for trades from 50/100 pips.
In this case we need to know in which waters we are sailing.

I personally use to look at h4 and daily charts at the beginning of the day.
Control weekly pivots and S&R. I use a Renko 30 charts for the same reason and then i move on the Renko 10 to trade.
So H4, Daily and Renko 30 for preparation. To trade Renko10 and 1m chart for entries and rebounds, on these last two charts I have the daily pivots.

Let me know.

Stay green.
  • #10,262
  • Mar 15, 2022 11:17pm Mar 15, 2022 11:17pm
Quoting matmomo
{quote} Hi mate, you asked me an interesting question. In my opinion we have two choices: - We trade in search of trades of 10 / 20 pips. In this case we can trade blindly, without knowing how the market will evolve. At least twice a day we have patterns that can guarantee us 10 or 20 pips. - We trade by looking for trades from 50/100 pips. In this case we need to know in which waters we are sailing. I personally use to look at h4 and daily charts at the beginning of the day. Control weekly pivots and S&R. I use a Renko 30 charts for the same reason...
i see so you are looking to hold the positions a bit longer for greater Risk to reward i assume? i have been leaning that ways too keeping a high hit rate can be pretty darn stressful and difficult,lol. If you could i would really appreciate it if you would post some screenshots of your trading and maybe why you took some trades with larger TF analysis as well, it would be really helpful. thanks a lot bro!
  • #10,263
  • Mar 16, 2022 11:05am Mar 16, 2022 11:05am
Quoting Sojourn
{quote} i see so you are looking to hold the positions a bit longer for greater Risk to reward i assume? i have been leaning that ways too keeping a high hit rate can be pretty darn stressful and difficult,lol. If you could i would really appreciate it if you would post some screenshots of your trading and maybe why you took some trades with larger TF analysis as well, it would be really helpful. thanks a lot bro!
Here I am mate,
This morning I read your post and so I started taking screen shots of the various phases of the day.
There will be about 10 pictures, I hope it's not too boring.

I start by specifying that normally I enter the market for 20/30 pips.
In some cases I divide the lots and enter with 2 operations. One with an Hard TP at 20 pips and the other I let it run with trailing SL.
My Stop Losses are always 20/22 pips never higher. When I'm at +10 pips (new Renko Brick) I move the SL to -10 / - 12pips.

My day starts by checking the Daily and H4 to identify the Weekly Pivots and the various supports and resistences.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.png Size: 72 KB
Attached Image (click to enlarge)
Click to Enlarge Name: 2.png Size: 69 KB

Today, even before the opening in Frankfurt we were in a strong uptrend with the breaking of a Triangle.
I thought it might be possible a Breakout - PullBack - Continuation pattern, but it didn't.
Attached Image (click to enlarge)
Click to Enlarge Name: 3.png Size: 77 KB

The rest is all in the images, which are certainly clearer than a thousand words.
Attached Image (click to enlarge)
Click to Enlarge Name: 4.png Size: 87 KB
Attached Image (click to enlarge)
Click to Enlarge Name: 5.png Size: 92 KB
Attached Image (click to enlarge)
Click to Enlarge Name: 6.png Size: 73 KB
Attached Image (click to enlarge)
Click to Enlarge Name: 7.png Size: 78 KB
Attached Image (click to enlarge)
Click to Enlarge Name: 8.png Size: 72 KB
Attached Image (click to enlarge)
Click to Enlarge Name: 9.png Size: 89 KB

For any clarification or questions I am here.
Come on, let's restart this thread.

Bye guys, stay green
  • #10,264
  • Mar 16, 2022 11:32am Mar 16, 2022 11:32am
Quoting matmomo
{quote} Here I am mate, This morning I read your post and so I started taking screen shots of the various phases of the day. There will be about 10 pictures, I hope it's not too boring. I start by specifying that normally I enter the market for 20/30 pips. In some cases I divide the lots and enter with 2 operations. One with an Hard TP at 20 pips and the other I let it run with trailing SL. My Stop Losses are always 20/22 pips never higher. When I'm at +10 pips (new Renko Brick) I move the SL to -10 / - 12pips. My day starts by checking the Daily...
This kind of content is great! thank you for sharing
rip and tear until it's done
  • #10,265
  • Mar 16, 2022 4:36pm Mar 16, 2022 4:36pm
Quoting matmomo
{quote} Here I am mate, This morning I read your post and so I started taking screen shots of the various phases of the day. There will be about 10 pictures, I hope it's not too boring. I start by specifying that normally I enter the market for 20/30 pips. In some cases I divide the lots and enter with 2 operations. One with an Hard TP at 20 pips and the other I let it run with trailing SL. My Stop Losses are always 20/22 pips never higher. When I'm at +10 pips (new Renko Brick) I move the SL to -10 / - 12pips. My day starts by checking the Daily...
Absolutely incredible bro, Definitely not boring! Thank you very much for sharing. it seems like you are primarily just looking for areas where multiple confluences are lining up, and clearly you have the patience to wait for those setups to occur, each entry is well thought out with logical explanations for each. Brilliant, this is exactly what i aspire to be able to do.
i will post my charts of my trading tonight as well good or bad.
i know you probably hate this question, but would you share your indicators and template please?
Also it seems like most of your trades involve some kind of meaningful horizontal level like BRN, pivots,etc?
how do you know when to enter? it seems like you enter many trades before the candle closes, is that just from experience?
sorry to bombard you with questions, its cool to be able to speak with someone so knowledgeable
  • #10,266
  • Mar 17, 2022 10:02am Mar 17, 2022 10:02am
Quoting Sojourn
{quote} Absolutely incredible bro, Definitely not boring! Thank you very much for sharing. it seems like you are primarily just looking for areas where multiple confluences are lining up, and clearly you have the patience to wait for those setups to occur, each entry is well thought out with logical explanations for each. Brilliant, this is exactly what i aspire to be able to do. i will post my charts of my trading tonight as well good or bad. i know you probably hate this question, but would you share your indicators and template please? Also it...
Hi friend,
regarding the market entry I sometimes use pending orders, or if I enter manually it may seem from the graph that I entered before the closing of the brick
but actually I entered after at a better price.

I absolutely do not hate requests, everything I know or can share is available.

Speaking about TP or SL you are right I look for confluence points.
Let me explain: I usually operate, as you know, for 20 / 30 pips per trade.
But if I see that at a certain point there is a BRN + a Pivot + a Fibo level then there is a good chance that the price will reach that level.
The more clues we have, the more possibilities there are. Right?
I attach to you an example from this morning:
Attached Image (click to enlarge)
Click to Enlarge Name: 1.png Size: 96 KB



Here the Indi + Templates

Let me know.
Stay green
Attached File(s)
File Type: zip Indicators.zip   410 KB | 725 downloads
Attached File(s)
File Type: zip Templates.zip   28 KB | 669 downloads
  • #10,267
  • Mar 17, 2022 1:43pm Mar 17, 2022 1:43pm
Quoting matmomo
{quote} ..... I absolutely do not hate requests, everything I know or can share is available. .... {file}{file}


Dear friend,
I'm so glad you're here again.
Many thanks for everything you do for us!
I wish you only all the best!
Don't think!
  • #10,268
  • Mar 17, 2022 1:50pm Mar 17, 2022 1:50pm
Quoting matmomo
{quote} Hi friend, regarding the market entry I sometimes use pending orders, or if I enter manually it may seem from the graph that I entered before the closing of the brick but actually I entered after at a better price. I absolutely do not hate requests, everything I know or can share is available. Speaking about TP or SL you are right I look for confluence points. Let me explain: I usually operate, as you know, for 20 / 30 pips per trade. But if I see that at a certain point there is a BRN + a Pivot + a Fibo level then there is a good chance...
Beautiful work as always Bro, and thank you very much for the template i will certainly try it, i am very interested in pivot points it seems they make for great horizontal confluence.
i have taken your advice and for now i am simply going to aim for 20 pips a night.
here is my chart, We took the same trade! although i think for slightly different reasons as i think my brokers data is different from yours.
How do you know where to put your fibs? whenever i try and use fibs i am always a bit nervous that i did not draw it correctly.
as always thanks so much for taking the time to share your knowledge, it really helps a lot.
Attached Image (click to enlarge)
Click to Enlarge Name: 3.16.22.png Size: 117 KB
  • #10,269
  • Edited 3:47pm Mar 17, 2022 2:57pm | Edited 3:47pm
Quoting matmomo
{quote} - We trade in search of trades of 10 / 20 pips. In this case we can trade blindly, without knowing how the market will evolve. At least twice a day we have patterns that can guarantee us 10 or 20 pips
Hi matmomo, any suggestion to look for at it?

That's the aproach and target that I'm actually looking to reach. I'm struggling to get into it because I don't know what i'm doing wrong but I always enter at the end of the trend lol, making me to lose a lot of pips easily and becoming really hard to get something positive, and when it is it's barely just a bunch of pips.

any sugestion to see those patterns that can turn the odds to get those 10 daily pips?

Thank you in advance, your posts that you are sharing are really useful.
rip and tear until it's done
  • #10,270
  • Mar 18, 2022 1:29am Mar 18, 2022 1:29am
Quoting LiboCop
{quote} Dear friend, I'm so glad you're here again. Many thanks for everything you do for us! I wish you only all the best!
Hi mate,
i'm so happy too.

Have a nice day and green pips
  • #10,271
  • Mar 18, 2022 1:35am Mar 18, 2022 1:35am
Quoting sisucoro
{quote} Hi matmomo, any suggestion to look for at it? That's the aproach and target that I'm actually looking to reach. I'm struggling to get into it because I don't know what i'm doing wrong but I always enter at the end of the trend lol, making me to lose a lot of pips easily and becoming really hard to get something positive, and when it is it's barely just a bunch of pips. any sugestion to see those patterns that can turn the odds to get those 10 daily pips? Thank you in advance, your posts that you are sharing are really useful.
Hello Sisucoro,
how about if you post some charts with your trades and let's try to analyze them together?
Might be a good idea?
Thank you for your words.

Let me know, I'm here.
Bye
  • #10,272
  • Mar 18, 2022 3:26am Mar 18, 2022 3:26am
GM,
here are for example current trades.
+100 in a few minutes, I like that .
Renko 5 points



Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 153 KB
Don't think!
  • #10,273
  • Edited 4:08am Mar 18, 2022 3:42am | Edited 4:08am
.... BRN is always an opportunity, then a rebound down again, 2nd position is now trailing to the BRN

Edit:
- always use tight SL below BRN. A Pin bar confirmation with pending order.
- the second entry (bouncing back down to the BRN) I've made with trailing pending orders below the current price. Using pending orders greatly minimizes your losses. Try it.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 161 KB
Don't think!
  • #10,274
  • Edited 4:38am Mar 18, 2022 3:46am | Edited 4:38am
...done
Have a nice weekend

Edit: I was once very covered in another topic, why we use stochastic and MACD when they are not originally used. However, if you look at trades, there was none if the levels were oversold or overbought, check it out. Please allow me to use the words by Matmomo "never to buy when the stochastic is overbought and vice versa". This may be a partial answer to the previous question of how not to grab a trade at the other end. It will also support successful entries in the beginning.

Hot tips: try always to use pending orders with confluence of stochastic. And if you add the levels described above by Matmomo, your trading will probably take a different turn.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 161 KB
Don't think!
  • #10,275
  • Mar 18, 2022 4:36am Mar 18, 2022 4:36am
Quoting Sojourn
{quote} Beautiful work as always Bro, and thank you very much for the template i will certainly try it, i am very interested in pivot points it seems they make for great horizontal confluence. i have taken your advice and for now i am simply going to aim for 20 pips a night. here is my chart, We took the same trade! although i think for slightly different reasons as i think my brokers data is different from yours. How do you know where to put your fibs? whenever i try and use fibs i am always a bit nervous that i did not draw it correctly....
Nice trade mate! keep on so.

About Fibonacci: you need of an High and a Low or vice versa:
Attached Image

In this case we have a Low and an High.
Draw your Fibo tools:
Attached Image (click to enlarge)
Click to Enlarge Name: 2.png Size: 44 KB

So you can identify the levels.

You can do it with large movements too:
Attached Image (click to enlarge)
Click to Enlarge Name: 3.png Size: 59 KB

Here we find an opportunity:
Attached Image (click to enlarge)
Click to Enlarge Name: 4.png Size: 96 KB
Attached Image (click to enlarge)
Click to Enlarge Name: 5.png Size: 55 KB


Have a nice day,
and stay green
  • #10,276
  • Mar 18, 2022 4:39am Mar 18, 2022 4:39am
Quoting LiboCop
...done Have a nice weekend {image}
Great work bro!

have a nice weekend you too
  • #10,277
  • Mar 18, 2022 9:29am Mar 18, 2022 9:29am
These days I see that there are quite a few enthusiasts reading this thread.
I want to tell you that if you are interested write, post your charts without any problems or doubts.
We all started from 0 and we are here to share our way.
Even if there are leaks, errors etc. We learn from mistakes, and if we share we learn first.

With this I greet you and wish you all a pleasant weekend.
Have fun and relax that on Monday we start again.
Stay green
  • #10,278
  • Mar 18, 2022 3:00pm Mar 18, 2022 3:00pm
Quoting matmomo
{quote} Nice trade mate! keep on so. About Fibonacci: you need of an High and a Low or vice versa:{image} In this case we have a Low and an High. Draw your Fibo tools: {image} So you can identify the levels. You can do it with large movements too: {image} Here we find an opportunity: {image}{image} Have a nice day, and stay green
Amazing demonstration! so its pretty much as simple as drawing fib from a high and a low and seeing if confluence lines up at that area?
Do you use pending orders a lot? i see how you used it in the screenshots, you wait for price to show rejection from an area with multiple confluences and then set the pending order at the close of the next renko brick based off of the renko counter indicator? i could see how this helps a lot, many times when i try to manually enter at the close of the next brick i get a lot of slippage and filled at a bad price because price moves too fast.
as always thank you for sharing with us, i will study this. Have a great weekend bro
  • #10,279
  • Mar 18, 2022 3:09pm Mar 18, 2022 3:09pm
Here is my charts of last nights trading(last night for me lol)
1 trade right at the open of london session, +20 pips
I find BRN levels to be the best for horizontal S/R especially when you get a double top/bottom at these levels.
if any member has any question please feel free to ask me, i am nowhere near as knowledgeable as matmomo or libocop but i will do my best to help if i can.
Hope everyone has a great weekend
Attached Image (click to enlarge)
Click to Enlarge Name: 3.17.22.png Size: 114 KB
  • #10,280
  • Mar 18, 2022 3:16pm Mar 18, 2022 3:16pm
Quoting LiboCop
...done Have a nice weekend Edit: I was once very covered in another topic, why we use stochastic and MACD when they are not originally used. However, if you look at trades, there was none if the levels were oversold or overbought, check it out. Please allow me to use the words by Matmomo "never to buy when the stochastic is overbought and vice versa". This may be a partial answer to the previous question of how not to grab a trade at the other end. It will also support successful entries in the beginning. Hot tips: try always to use pending orders...
interesting charts libocop thanks for sharing
do you always use pending orders when trading?
what are the green lines? just Support/resistance also the purple lines are those higher timeframe trendlines?
i will try and experiment with pending orders i see how they can be used to get better entries with less drawdown
3 traders viewing now