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Trading Made Simple(r)

  • #7,861
  • May 7, 2022 2:28pm May 7, 2022 2:28pm
Quoting PipsAndGainz
{quote} I appreciate the detailed response. The reason why I tried to replicate it is because I think I have tried almost every indicator available on the platform (and even tried to create some famous ones like the TTM Squeeze) and this oscillator you created is one of the best. That's why I tried so hard to make it identical to yours & I'm not going to lie it took me around a week to figure it out. I noticed that you had already posted a chart with the roadmap and the other oscillator (red and green lines) but just like your commodities...
A margin account is a double-edged sword. It just allows you to amplify your winnings or losses.

Were it me, I would start off with a cash account and then once you become consistently profitable then go to a margin account.

BTW, it only took you a week to figure out the RobinHood Oscillator, it took me years!
Always a Student, Never a Master - Emulate What Works
  • #7,862
  • May 7, 2022 11:13pm May 7, 2022 11:13pm
Quoting RobinHood
I day trade nearly every day. I have been day trading for almost 30 years so I'd like to think that I know a thing or two about it by now. Let me say this before I go on...I do not suggest that most traders day trade because it takes a unique set of skills that often takes years to develop and master, and an intense amount of concentration, and you will most likely lose a lot of trades (and a lot of money relatively speaking) before you get good at it...if ever. 1. There is an old saying. "There are only 2 types of day traders; the quick and the...
Hi RH, a fun weekend, can I ask if this model can be used on larger frames? and now do you still use ashi heikin indicator?
  • #7,863
  • Edited 7:15am May 8, 2022 4:46am | Edited 7:15am
Quoting tienphuc2910
{quote} Hi RH, a fun weekend, can I ask if this model can be used on larger frames? and now do you still use ashi heikin indicator?
Yes, it can be used on any time frame.

Yes, I still use HA candles on some things (like Daily Forex charts) because they smooth things out and help you to better stick with a trend, but I also like using Japanese Candlesticks in some instances, like on 1 minute charts because seeing the OHLC of every bar when I am scalping for 5, 10, 15 pips is very important .
Always a Student, Never a Master - Emulate What Works
  • #7,864
  • May 8, 2022 4:40pm May 8, 2022 4:40pm
Would be great to hear more of your tips on day trading @RobinHood. I frequently check this thread for your updates and insights on all things trading.
  • #7,865
  • Edited May 9, 2022 5:16am May 8, 2022 5:23pm | Edited May 9, 2022 5:16am
Quoting whiteso
Would be great to hear more of your tips on day trading @RobinHood. I frequently check this thread for your updates and insights on all things trading.
If you have anything specific that I could help you with or answer I would be happy to try to.
Always a Student, Never a Master - Emulate What Works
  • #7,866
  • May 8, 2022 6:10pm May 8, 2022 6:10pm
Quoting cpfleger
Everyone, This is a great system to enjoy trading, its been a few years since I wrote last but I still use RH Strategy and it keeps me and my family in good harmony and thanks again RH and friends for sharing and may everyone enjoy in the future, laters. cpfleger {image}
hey cpfleger, what is this arrow ?
  • #7,867
  • May 8, 2022 6:33pm May 8, 2022 6:33pm
Quoting RobinHood
{quote} I want to be honest. I position trade Daily charts for most of my profits. I day trade mostly for fun and just to see if I have still "got it". If you have anything specific that I could help you with or answer I would be happy to try to.
We are so lucky to have your ongoing input into this site, many thanks for the TPL, this has to be the silly question of the day, how do I custom set M2 on MT4 ???
  • #7,868
  • May 9, 2022 4:05am May 9, 2022 4:05am
Quoting cpfleger
Everyone, This is a great system to enjoy trading, its been a few years since I wrote last but I still use RH Strategy and it keeps me and my family in good harmony and thanks again RH and friends for sharing and may everyone enjoy in the future, laters. cpfleger {image}
Can I use it for a bigger time frame?
  • #7,869
  • May 9, 2022 4:44am May 9, 2022 4:44am
Quoting Coffeebuff
{quote} We are so lucky to have your ongoing input into this site, many thanks for the TPL, this has to be the silly question of the day, how do I custom set M2 on MT4 ???
Thank you. I used to trade 2 minute charts on MT4 many years ago, so I know that it can be done, but I have forgotten exactly how to do it. If I remember correctly, you have to go to File > Open Offline, but I don't remember any more than that.
Always a Student, Never a Master - Emulate What Works
  • #7,870
  • May 9, 2022 4:50am May 9, 2022 4:50am
Quoting RobinHood
{quote} Thank you. I used to trade 2 minute charts on MT4 many years ago, so I know that it can be done, but I have forgotten exactly how to do it. If I remember correctly, you have to go to File > Open Offline, but I don't remember any more than that.
You need to add a period converter to your M1 chart and open the M2 chart generated by the indi as an offline chart. Make sure you have all the broker data as well with the load all history script (goes in the script folder)
Attached Image (click to enlarge)
Click to Enlarge Name: Josh1.png Size: 8 KB
Attached File(s)
File Type: ex4 Period_Converter_Opt.ex4   9 KB | 187 downloads
File Type: ex4 LoadAllHistory.ex4   102 KB | 191 downloads
  • #7,871
  • May 11, 2022 12:16am May 11, 2022 12:16am
Quoting 40PipsAlan
{quote} You need to add a period converter to your M1 chart and open the M2 chart generated by the indi as an offline chart. Make sure you have all the broker data as well with the load all history script (goes in the script folder) {file} {file} {image}
Many thanks to both of you.

Green pips
  • #7,872
  • May 12, 2022 2:11am May 12, 2022 2:11am
Attached File(s)
File Type: pdf Profit and loss manipulations by online trading brokers.pdf   626 KB | 851 downloads
Maybe this document is useful for some in the group
  • #7,873
  • May 12, 2022 4:35am May 12, 2022 4:35am
Hi all. Been reading this thread. However I see that template has changed compared to post 1 . Is the method still the same ? Thanks
  • #7,874
  • May 12, 2022 5:40am May 12, 2022 5:40am
Quoting benjamintoh8
Hi all. Been reading this thread. However I see that template has changed compared to post 1 . Is the method still the same ? Thanks
What's on Page # 1, Post # 1 is still the same and is all you NEED. As you go through the thread, you will see that there have been some changes and additions made. You don't "need" them, but you may want to add one or more to your template. It's a personal decision.
Always a Student, Never a Master - Emulate What Works
  • #7,875
  • May 12, 2022 8:07am May 12, 2022 8:07am
Quoting RobinHood
{quote} What's on Page # 1, Post # 1 is still the same and is all you NEED. As you go through the thread, you will see that there have been some changes and additions made. You don't "need" them, but you may want to add one or more to your template. It's a personal decision.


Alrighty, Thanks!
  • #7,876
  • May 12, 2022 12:27pm May 12, 2022 12:27pm
Quoting Boo15
{image}Not a bad start to the Month! hopefully can keep it up.


Hi bro, good results. May i know which TF you are trading this system in to get those results? THanks
  • #7,877
  • May 12, 2022 1:45pm May 12, 2022 1:45pm
Quoting benjamintoh8
{quote} Hi bro, good results. May i know which TF you are trading this system in to get those results? THanks
4hr buddy,
I don't have very much time to trade so it's pretty much set and forget!
Good luck
From tiny pips mighty oaks grow
  • #7,878
  • May 13, 2022 7:03am May 13, 2022 7:03am
Quoting cpfleger
Everyone, This is a great system to enjoy trading, its been a few years since I wrote last but I still use RH Strategy and it keeps me and my family in good harmony and thanks again RH and friends for sharing and may everyone enjoy in the future, laters. cpfleger {image}
This looks like a really effective strategy - what kind of win rate do you get with it on average?
  • #7,879
  • May 13, 2022 11:43am May 13, 2022 11:43am
Robinhood, hope you’re well.

I wanted to get in touch and let you know how I’ve been getting on applying your teachings. I alluded to the fact I was doing quite well previously, which I felt I was for quite some time. Unfortunately, the recent downward swing in the US markets humbled me, I’ve just about finished licking my wounds and am starting to reassess so thought I’d get in touch and let you know what happened.

My strategy was roughly as follows: -

Each weekend I’d scan the SP500 for stocks trading with my 3 long EMA’s all in the correct order for an uptrend. This usually gave me a weekly shortlist of around 100 stocks.

I’d then browse the shortlist at the end of each trading day and make entries based on my 3 short period EMA’s, I’d apply some discretion to entries, avoiding consolidation and avoiding continuation trades extended well above the Longer EMA’s, preferring to take entries bouncing off them instead. I’d enter with limit orders above the high of the signal candle and exit when my shortest EMA crossed my second shortest. Id always risk a fixed 1% of my account, and place my stop loss below the obvious swing low.

This seemed to work great and prior to the downward swing my 10k demo account was sitting at 13k in 2 months trading, however only 1k of this was realised profits. The recent downturn stopped me out of many trades and left me sitting on 8k. This swing happened over 3 days. At times I had many open trades at any given time, and closed a total of 88 trades, perhaps this was my mistake. Obviously, I deemed this downward swing unacceptable and thus I need to revise my strategy. I confess it was a big emotional hit, I was daring to dream I could have found my ‘holy grail’.

I think perhaps a trailing stop exit could’ve captured more profits, at times I found myself giving large amounts back to the market on otherwise winning trades, but it’s hard to tell if this would’ve saved me in the end. Frustratingly almost every trade I made was initially successful and I have no doubt this entry strategy is profitable.

I wondered if you have any improvements I could make or could criticise any obvious mistakes I made.

I’ve just about finished university for this year and will have more time to focus on trading, hopefully I can weed out my issues, I feel like what you’ve taught me has brought me closer than ever to profitability.

Thanks again for all your selfless contributions to us at FF, I hope to hear from you.

Paul.
  • #7,880
  • Edited 2:51pm May 13, 2022 12:27pm | Edited 2:51pm
Quoting UkSmurfy
Robinhood, hope you’re well. I wanted to get in touch and let you know how I’ve been getting on applying your teachings. I alluded to the fact I was doing quite well previously, which I felt I was for quite some time. Unfortunately, the recent downward swing in the US markets humbled me, I’ve just about finished licking my wounds and am starting to reassess so thought I’d get in touch and let you know what happened. My strategy was roughly as follows: - Each weekend I’d scan the SP500 for stocks trading with my 3 long EMA’s all in the correct order...
Hi Paul,

Thank you for your post. The best news is that it is only a demo account. I have felt your pain in the same way several times myself in past years (but not this year so far), so I fully understand what you have been going through. I have many things to say about what you wrote. Today is Friday afternoon in the U.S. and I am going to be day trading for just under the next 2.5 hours. I will do my best to give you an in-depth response tomorrow or Sunday.

But, first let me try to make you feel a little bit better. The hottest stock fund manager of 2021 is a woman named Cathie Wood. Just over a year ago, her ETF (ARKK) was at almost $160/share, as of yesterday, it was down to as low as $35/share. That's a 72% drop!, and yet she still manages BILLION of $$$.

My point is, if that can happen to her, it can certainly happen to much less experienced traders too so don't feel too bad!

Attached Image (click to enlarge)
Click to Enlarge Name: ARKK ETF.PNG Size: 221 KB
Always a Student, Never a Master - Emulate What Works
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