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A very simple system - trade with arrow

  • #8,421
  • Apr 13, 2022 4:48am Apr 13, 2022 4:48am
Quoting pips29
{quote} I'm sure most of you know that pivot can act as s/r

Foolsgame method contradicts yours, foolsgames also not around, his arrow system is also no more around.



Your method is very solid and based on your personal experience. And I'm trying to learn your method and take similar trades as you do.
  • #8,422
  • Apr 13, 2022 5:13am Apr 13, 2022 5:13am
Quoting trader2022
{quote} Foolsgame method contradicts yours, foolsgames also not around, his arrow system is also no more around. Your method is very solid and based on your personal experience. And I'm trying to learn your method and take similar trades as you do.
the arrows used by FG just simply show the 10/34 ema cross. I do not trade every cross and that's why he doesn't use them anymore ,the reason being not every cross will work and so trading blindly can lead to disastrous result during choppy session. You must look at the structure whether price is showing a downtrend by printing a series of LH/LL and the most recent H/L are also important viewing the htf like H4/Daily
the cautious seldom err....C
  • #8,423
  • Edited 6:27am Apr 13, 2022 6:12am | Edited 6:27am
Quoting pips29
{quote} the arrows used by FG just simply show the 10/34 ema cross. I do not trade every cross and that's why he doesn't use them anymore ,the reason being not every cross will work and so trading blindly can lead to disastrous result during choppy session. You must look at the structure whether price is showing a downtrend by printing a series of LH/LL and the most recent H/L are also important viewing the htf like H4/Daily

Yes, I learnt from you to check Daily/H4 before taking trades therefore, I've inserted a trend indicator to check Daily, H4, H1, M30, and M15 on same chart before taking a trade. its show MN, W1, D1, H4, H1 beside pipsometer... This is how, I can open multiple trades in trend and my other eA close them one by one either 15pips +ve or -ve fixed. Having said that; I'm using additional EA to close all trades once a combination of open trades reaches 50pips = a profit $25. This is my learning stage and I can increase profit taking in future but for now, lot size is 0.50 and TP 15pips. Close all trades when equity reaches Balance + $25.

But once again, I'm not going to take a trade Instead will learn from you your method first.
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  • #8,424
  • Apr 13, 2022 6:42am Apr 13, 2022 6:42am
Quoting trader2022
{quote} Yes, I learnt from you to check Daily/H4 before taking trades therefore, I've inserted a trend indicator to check Daily, H4, H1, M30, and M15 on same chart before taking a trade. its show MN, W1, D1, H4, H1 beside pipsometer... This is how, I can open multiple trades in trend and my other eA close them one by one either 15pips +ve or -ve fixed. Having said that; I'm using additional EA to close all trades once a combination of open trades reaches 50pips = a profit $25. This is my learning stage and I can increase profit taking in future...
you must take trades to learn from experience
the cautious seldom err....C
  • #8,425
  • Edited 7:21am Apr 13, 2022 6:57am | Edited 7:21am
Quoting pips29
{quote} you must take trades to learn from experience
I consider myself a failed trader.

Since I joined you, all my trades are hitting TP. So I'm in a shock. However, you weren't taking trades but I was taking trades only all of my trades hit TP the day before i was using lot 0.01. Then yesterday I made balance $10,000 again and changed lot size 0.10 and yes most of hit TP and I targeted $100 profit on lot 0.10 and acheived. Today I've reduced Lot size 0.05 and I do not watch trades then, my EA closes them automatically. Some are closed and Others are still floating. I targeted $50 and it has been acheived already. Still some trades are opened and this balance may reduce by the end of trading day so i do not consider that i've made $50 profit based on lot size 0.05.
I'm still using your system but method is to open trade in TREND. So I'm stunt and dont know what's giong on because you aren't taking trades but I'm taking trades. Our system is same but I'm not learning from you that was turning point. regardless my trades are hitting TP but still I'm stunt because its happening first time and I do not think what think right is actually right because i consider you as a succesful trader but you arn't taking trades. Therefore, I've to learn your method which i still don't know.
  • #8,426
  • Apr 13, 2022 7:33am Apr 13, 2022 7:33am
I have closed this trade after price missed my tp by 1 pip or more
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the cautious seldom err....C
  • #8,427
  • Apr 13, 2022 7:36am Apr 13, 2022 7:36am
Quoting trader2022
{quote} I consider myself a failed trader. Since I joined you, all my trades are hitting TP. So I'm in a shock. However, you weren't taking trades but I was taking trades only all of my trades hit TP the day before i was using lot 0.01. Then yesterday I made balance $10,000 again and changed lot size 0.10 and yes most of hit TP and I targeted $100 profit on lot 0.10 and acheived. Today I've reduced Lot size 0.05 and I do not watch trades then, my EA closes them automatically. Some are closed and Others are still floating. I targeted $50 and it has...
Why are you stunt? Isn't making profits your aim when you enter trades..
the cautious seldom err....C
  • #8,428
  • Apr 13, 2022 7:40am Apr 13, 2022 7:40am
Quoting pips29
I have closed this trade after price missed my tp by 1 pip or more {image}
YOur trading is precise because you know the method. One trade got you +61pips.


I'm using the same old method as novice, to open in trend and if trend change then it wil hit SL. yu TP will be taken by other SL. that's betting not trading. Whereas you are trading with known method and you are experienced.
  • #8,429
  • Edited 8:13am Apr 13, 2022 7:42am | Edited 8:13am
Quoting pips29
{quote} Why are you stunt? Isn't making profits your aim when you enter trades..
I'm in demo account learning and I need some confidence before I use the live account. Many times I've started trading but they failed after sometimes. this way of trading doesn't failed you much because whatever you lose you recover same day or next day that's why I let the EA take care of opened trade with fixed SL & TP, individual trades and the another EA to close all trades once TP hit fixed 50pips.



All trades closed: I just set my EA to close all trade with fixed profit. The only problem is I'm not using your method and I do not want to fail in Live account.
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  • #8,430
  • Apr 13, 2022 11:36am Apr 13, 2022 11:36am
Quoting pips29
{quote} Why are you stunt? Isn't making profits your aim when you enter trades..
@ pips29 please what is the settting of your pips29 indicator . do we live at default setting is 14, 14, 34, 34
thanks
  • #8,431
  • Apr 13, 2022 5:04pm Apr 13, 2022 5:04pm
Quoting joycometh
{quote} @ pips29 please what is the settting of your pips29 indicator . do we live at default setting is 14, 14, 34, 34 thanks
Try 50,50,50,50 for a start
the cautious seldom err....C
  • #8,432
  • Apr 13, 2022 5:06pm Apr 13, 2022 5:06pm
Hope to get a ride up after the fall with the rate increase announcement
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the cautious seldom err....C
  • #8,433
  • Apr 13, 2022 5:10pm Apr 13, 2022 5:10pm
I took a ride down using the bbma method, not going to discuss the method but just saying I did trade the loonie
Attached Image (click to enlarge)
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the cautious seldom err....C
  • #8,434
  • Edited 8:53pm Apr 13, 2022 8:28pm | Edited 8:53pm
Quoting pips29
{quote} Try 50,50,50,50 for a start
why for a start ? is 50,50,50,50 not the working setting ?
  • #8,435
  • Apr 14, 2022 2:29am Apr 14, 2022 2:29am
It's the setting I use till recently. I am trying out a more aggressive approach and I tweak the settings but I probably revert back to the 50
the cautious seldom err....C
  • #8,436
  • Apr 14, 2022 3:26am Apr 14, 2022 3:26am
first trade of the day. Long GY
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the cautious seldom err....C
  • #8,437
  • Apr 14, 2022 3:31am Apr 14, 2022 3:31am
Quoting pips29
Hope to get a ride up after the fall with the rate increase announcement {image}
Had I not moved the target higher the trade would have hit the target but instead it missed my target by 2 pips. I manually closed the trade as pa isn't looking promising atm
Attached Image (click to enlarge)
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the cautious seldom err....C
  • #8,438
  • Apr 14, 2022 4:30am Apr 14, 2022 4:30am
2nd trade of the day..Long GA
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the cautious seldom err....C
  • #8,439
  • Apr 14, 2022 6:22am Apr 14, 2022 6:22am
Quoting pips29
2nd trade of the day..Long GA {image}
locked in at b/e with some profits taken
Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUD.pM5.png Size: 62 KB
the cautious seldom err....C
  • #8,440
  • Apr 14, 2022 7:53am Apr 14, 2022 7:53am
Quoting pips29
{quote} locked in at b/e with some profits taken {image}
Luckily I took anoter bit off before the ECB rate announcement which shot it down
Attached Image (click to enlarge)
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the cautious seldom err....C
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