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Trading Made Simple(r)

  • #7,981
  • Edited 11:06am May 25, 2022 10:49am | Edited 11:06am
Quoting Polimini
I got very good with this method, 5 green out of 6 today. But man do i suck at getting out. My problem is i can't be monitoring it 24/7 so i usually just do SL and TP (simetric), most of the time i leave money in the table. On the other side i'm leaving with 3, 4 and 5% profit and should probably just be happy. I'm just doing M15 trades (i look at H1, H4, M30 for the perfect setup) but i time the ins and outs in M15. I don't think i have the discipline, to follow higher trends, yet. Any tips to make the process of getting out more polished?
Since you cannot monitor markets 24/7 and what you are doing is working really well, the easiest thing to do is to start trading a higher time frame which will make the SL and the TP higher. Making 3, 4, and 5% profit is nothing to be ashamed of. Quite the contrary.
Always a Student, Never a Master - Emulate What Works
  • #7,982
  • May 25, 2022 1:13pm May 25, 2022 1:13pm
Quoting RobinHood
{quote} Since you cannot monitor markets 24/7 and what you are doing is working really well, the easiest thing to do is to start trading a higher time frame which will make the SL and the TP higher. Making 3, 4, and 5% profit is nothing to be ashamed of. Quite the contrary.
I figure that out, but the risk increases a lot, you have to put the SL many dollars behind you. I will continue to improve so i can go do that next step. Thanks.
  • #7,983
  • May 25, 2022 1:30pm May 25, 2022 1:30pm
Quoting Polimini
{quote} I figure that out, but the risk increases a lot, you have to put the SL many dollars behind you. I will continue to improve so i can go do that next step. Thanks.
Actually, the risk does not have to increase, just trade smaller so the risk remains about the same.

If you trade 10 units at $1/unit or you trade 1 unit at $10/unit it's just the same thing.

So you CAN increase the time frame without increasing your risk amount by trading less units.
Always a Student, Never a Master - Emulate What Works
  • #7,984
  • Edited 7:09pm May 26, 2022 9:16am | Edited 7:09pm
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Always a Student, Never a Master - Emulate What Works
  • #7,985
  • May 27, 2022 1:42am May 27, 2022 1:42am
Quoting Polimini
I finally got some alerts working for HMA/MA crossing and now it's perfect. Last week got a lot of sucess with it, including 4 out of 4 on Friday.
Hi Polimini!!
I read you got alerts working for HMA/MA crossing! Nice! Can you teach me how to do it, super please?

Cheers!
  • #7,986
  • May 27, 2022 8:33am May 27, 2022 8:33am
Hi Robin Hood,
Is there any Robin Hood Oscillator for MT5 platform. Thank you.
  • #7,987
  • May 27, 2022 8:36am May 27, 2022 8:36am
Quoting Celal
Hi Robin Hood, Is there any Robin Hood Oscillator for MT5 platform. Thank you.
Not that I am aware of.
Always a Student, Never a Master - Emulate What Works
  • #7,988
  • May 28, 2022 4:21pm May 28, 2022 4:21pm
Has anyone tried the Trading View indicator: [Alerts]QQE Cross v6.0 by JustUncleL

It alerts you when to place the trade and when to close the trade.
I tried it on BTCUSD and ETHUSD (since it's the weekend) and the results so far are 100% - but I only did a few trades.
Attached Image (click to enlarge)
Click to Enlarge Name: 2022-05-28 22_17_25-ETHUSD â–² 1790.42 +3.8% BTCUSD.png Size: 27 KB
  • #7,989
  • May 29, 2022 1:36am May 29, 2022 1:36am
Quoting MXMmo
Has anyone tried the Trading View indicator: [Alerts]QQE Cross v6.0 by JustUncleL It alerts you when to place the trade and when to close the trade. I tried it on BTCUSD and ETHUSD (since it's the weekend) and the results so far are 100% - but I only did a few trades. {image}
Hello MXMmo!
Seems interesting! I will give a try. What timeframe did you use on these few trades you made?
Thanks.
  • #7,990
  • May 29, 2022 1:42am May 29, 2022 1:42am
Quoting RobinHood
.
Hey RH!
Do you have any idea how I can learn to setup this HMA/MA crossover alert?
I still can`t get used to HA candles and 4h timeframe. But your template works well in 15m too
And again, thank you for sharing all you do. This is the best thread on the entire internet. By far.
  • #7,991
  • May 29, 2022 1:47am May 29, 2022 1:47am
Quoting Tricolor77
{quote} Hello MXMmo! Seems interesting! I will give a try. What timeframe did you use on these few trades you made? Thanks.
Hi, I tried both the 5M and 15M timeframes - both worked well. It seemed to be less effective on the higher timeframes. I only tried with ETHUSD and BTCUSD so far.
  • #7,992
  • May 29, 2022 10:26am May 29, 2022 10:26am
Quoting Tricolor77
{quote} Hey RH! Do you have any idea how I can learn to setup this HMA/MA crossover alert? I still can`t get used to HA candles and 4h timeframe. But your template works well in 15m too And again, thank you for sharing all you do. This is the best thread on the entire internet. By far.
You're welcome. Thank you for the nice compliment!

If you are referring to MT4, I don't know how to code that. In TC2000 and TradingView, it can also be done, but I have not code it in either one.

Possibly someone else here can help. Please specify which trading platform you want it coded on.
Always a Student, Never a Master - Emulate What Works
  • #7,993
  • Edited 12:43pm May 29, 2022 12:18pm | Edited 12:43pm
For those of you who may be interested in mimicking my most current trading template on TC2000 to view Forex pairs (and stocks) you can do so for as low as $9.99/mo. USD. They had 42 Forex pairs available to view/trade the last time I counted.
Attached Image (click to enlarge)
Click to Enlarge Name: TC2000 Pricing.PNG Size: 74 KB

Here's what my current trading setup looks on like TC2000 with the Robinhood Oscillator on it (MACD 7 & 10 + MACD 11 & 13 (in the lower window), plus the RoadMap (34 ema last/close, 34 ema high, 34 ema low), and 2 other ema's (4 & 9). I have named this template: "Awesome" (because you have to name a template something).

The chart below is the Daily AUDCAD.
Attached Image (click to enlarge)
Click to Enlarge Name: Forex on TC2000.PNG Size: 280 KB

BTW, I don't trade through TC2000, but you can, I just use them for charting. I trade through Interactive Brokers.
Always a Student, Never a Master - Emulate What Works
  • #7,994
  • Edited 2:17pm May 29, 2022 12:36pm | Edited 2:17pm
I should explain that there are several methods that I currently use to enter Long trades using the template above to trade. Here's a chart for reference:
Attached Image (click to enlarge)
Click to Enlarge Name: Forex on TC2000.PNG Size: 280 KB

The Most Conservative Way:

When the price closes above the RoadMap (the 3 grey lines) and it's a green candle, and the yellow and purple vertical histograms (the RobinHood Oscillator aka RSO in the lower window) are above the Zero line, (and you can see both colors), you go Long.


The Less Conservative Way:

Ignore the RoadMap. When the RSO yellow and purple vertical histograms are above the Zero line (and you can see both colors) and it's a green candle, you go Long.


The Least Conservative Way:

Ignore the RoadMap. When the RSO yellow and the purple histograms are BELOW the Zero line and the yellow histogram disappears behind the purple histogram, you go Long.


How to Exit a Long Trade:

When the yellow histogram disappears behind the purple histogram, you exit the trade.


Short trades are exactly the opposite.
Always a Student, Never a Master - Emulate What Works
  • #7,995
  • May 29, 2022 7:49pm May 29, 2022 7:49pm
Quoting MXMmo
Has anyone tried the Trading View indicator: [Alerts]QQE Cross v6.0 by JustUncleL It alerts you when to place the trade and when to close the trade. I tried it on BTCUSD and ETHUSD (since it's the weekend) and the results so far are 100% - but I only did a few trades. {image}
Hey MXMmo!

I am trying to figure it out.
When I loaded on the tradinview chart it doesnt look like yours, easy to see buy and sell entry and exit points.
Mine got some XZ and XQ, and diferent colors.
Do you know some place, some thread to explain it better? Seems interesting.
Attached Image (click to enlarge)
Click to Enlarge Name: print1.PNG Size: 66 KB
  • #7,996
  • May 31, 2022 2:29am May 31, 2022 2:29am
Hi RobinHood,
First of all, thank you very much for sharing your system with us and helping us. I have been following your system for a long time. The most difficult part of implementing this system for me is (I coudn't solve the problem). In continuation trades when hull ma changes it's colour and turns up, this price can be top and price turns back. We don't know if the movement will continou upwards, usually there is a resistance zone. How do we know if this area will be crossed or if there is a strong probability of crossing? That's why I'm always getting caught on the hill and I'm hurting. Thank you for all.
Attached Image (click to enlarge)
Click to Enlarge Name: GOLDH4.png Size: 19 KB
  • #7,997
  • May 31, 2022 4:08am May 31, 2022 4:08am
Quoting RobinHood
I should explain that there are several methods that I currently use to enter Long trades using the template above to trade. Here's a chart for reference: {image} The Most Conservative Way: When the price closes above the RoadMap (the 3 grey lines) and it's a green candle, and the yellow and purple vertical histograms (the RobinHood Oscillator aka RSO in the lower window) are above the Zero line, (and you can see both colors), you go Long. The Less Conservative Way: Ignore the RoadMap. When the RSO yellow and purple vertical histograms are above...
Hi RH, I tried to reproduce this pattern on MT4, but it doesn't seem to be the same as yours. If yes, can you give me a template on MT4? Thanks
Hi RH, I tried to reproduce this pattern on MT4, but it doesn't seem to be the same as yours. If yes, can you give me a template on MT4? Thanks
  • #7,998
  • May 31, 2022 4:52am May 31, 2022 4:52am
Quoting Celal
Hi RobinHood, First of all, thank you very much for sharing your system with us and helping us. I have been following your system for a long time. The most difficult part of implementing this system for me is (I coudn't solve the problem). In continuation trades when hull ma changes it's colour and turns up, this price can be top and price turns back. We don't know if the movement will continou upwards, usually there is a resistance zone. How do we know if this area will be crossed or if there is a strong probability of crossing? That's why I'm...
Me Too! I'm experimenting with this approach:

I generate the S/R levels then only assume the trade will progress to the nearest S or R level. If this distance is greater than my stop loss, then my potential reward is greater than my risk and I take the trade. If not I pass. I've also changed the HMA so that it goes yellow when the price action is flat. Pic below shows the levels with the nearest (in red) highlighted as the profit target for a sell trade on USDCAD 4hr which I took yesterday. Forgive the non-standard nature of the chart - all my trading is done in Python. Ignore the black crosses, that's just an implementation of the parabolic SAR which I was trying out but I'm no longer using.Attachment gAttachment g
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 50 KB
  • #7,999
  • May 31, 2022 7:30am May 31, 2022 7:30am
Quoting Celal
Hi RobinHood, First of all, thank you very much for sharing your system with us and helping us. I have been following your system for a long time. The most difficult part of implementing this system for me is (I coudn't solve the problem). In continuation trades when hull ma changes it's colour and turns up, this price can be top and price turns back. We don't know if the movement will continou upwards, usually there is a resistance zone. How do we know if this area will be crossed or if there is a strong probability of crossing? That's why I'm...
You're welcome!

Just because the HMA changes colors (and stays above the yellow 5 ema), that does not mean that you MUST exit the trade. You SHOULD get confirmation from at least 1 or more of the other indicators before you exit. If anything, that is when you should be adding to your position because it may be another Continuation Trade.

Also...

Almost no trading systems or methods work very well during poorly trending or non-trending periods. For the most part, money is made in trends and losses come during the choppy times.

Here's what I do to try and alleviate the issue (if possible).

1. I go to a higher time frame.

Higher time frames almost always make whatever you are trading "smooth out" more than the lower time frames.

And/or

2. I change what I am trading.

Certain Forex pairs (and stocks, etc.) all go through trending/non-trending times. It's just how it is, so when I see something that is not trending, I simply won't trade it.

----

Personally, I think what hurts a lot of traders is that they think that they need to trade lots of different Forex pairs/stocks/crypto/etc.

Traders think that by diversifying amongst many different Forex pairs (stocks, etc.) that it's less risky than trading just 1-2-3 Forex pairs (stocks, etc.) and that's not necessarily true.

Most "newer" traders would be far better off to only trade 1-2-3 or so Forex pairs (stocks, etc.)

Remember what Bruce Lee said:

"I fear not the man who has practiced 10,000 kicks once, but I fear the man who has practiced one kick 10,000 times".

Each Forex pair(and stocks, etc.) all have their own personality, and traders must realize that.

Now some may wonder why I often have a portfolio of 25-30 stocks and that would be a fair question, but sometimes, like right now I only have 2 stocks in my portfolio. So for me (in the stock market), it comes down economic and market conditions. And, right now, overall, those 2 things are not very good in the U.S. which is where I live and trade the U.S. stock market.

There's a saying: "When There is Blood in the Streets, CASH is KING"

And right now, and at minimum for the near term future, there is "blood in the streets". For example, starting last November until now, Amazon stock has gone from a high of over $3700 down to a low of almost $2000 and right now it's at about $2300. High to low that's about a 46% drop.

Another thing that many people don't know is that rich people usually get richer during/after bad economic and market conditions because they buy things when they are cheap and then wait for things to turn around and go back up. They view it as those things are "on sale".

As for me, the chart always tells me everything I ever need to know about what to trade, and when or when not to trade. I don't try to "catch a falling knife".
Always a Student, Never a Master - Emulate What Works
  • #8,000
  • May 31, 2022 7:33am May 31, 2022 7:33am
Quoting tienphuc2910
{quote} Hi RH, I tried to reproduce this pattern on MT4, but it doesn't seem to be the same as yours. If yes, can you give me a template on MT4? Thanks Hi RH, I tried to reproduce this pattern on MT4, but it doesn't seem to be the same as yours. If yes, can you give me a template on MT4? Thanks
I do not have a template of this for MT4. I only use it on a trading platform called TC2000.
Always a Student, Never a Master - Emulate What Works
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