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Trading Made Simple 133,550 replies

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Attachments: Trading Made Simple(r)
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Trading Made Simple(r)

Hi Robinhood,
Thanks so much for the good work, can we have the setup MT5?
Thank you
Quoting PipsAndGainz
{quote} I've been focusing a lot more on how much can I lose rather than how much can I win and I can say it has changed my trading a lot. When you say you keep your losses small what do you exactly mean? Because I always risk the same no matter the distance from the entry point to the stop loss.
"Keep Your Losses Small" = Risk Management

It means only risking a small amount per trade, as in the same dollar amount, or the same # of pips, or a % of your account.

Since you asked "what do you exactly mean?", my answer is 1% of my account when position trading.

I don't know how to say this without it sounding somewhat arrogant, but I'm pretty good at day trading and I never literally enter stops or have time to calculate my risk for each trade, but I do keep my finger on the exit button (the mouse) nearly 100% of the time that I am in a trade.

My day trades rarely last very long because I trade the momentum, and when momentum starts to slow I just get out, otherwise, my mental stops are almost always just 1 bar back initially.

In day trading I NEED to be right, right now, or I need to be out.

It's a fast paced game where only the only the quick survive, because if you're not quick, then you're dead!

And personally, I don't recommend that most traders day trade because losing small over and over again (which can happen) is very hard on the psyche until they fully understand the game and how it should be played.
Always a Student, Never a Master - Emulate What Works
Quoting Onisowo
Good morning everyone. Please, I'll like to ask if this indicators work on MT5. Thank you.
It depends on specifically which indicators you are referring to.
Always a Student, Never a Master - Emulate What Works
Quoting Beasconsult
Hi Robinhood, Thanks so much for the good work, can we have the setup MT5? Thank you
I don't trade using MT5 and so I don't have it.
Always a Student, Never a Master - Emulate What Works
Quoting RobinHood
{quote} I don't trade using MT5 and so I don't have it.
Hi Robinhood, what's your recommendation for best offline backtest software. I mean i can download tick data while i am connected and practice strategies with no internet connection.
Quoting Caspian-swan
{quote} Hi Robinhood, what's your recommendation for best offline backtest software. I mean i can download tick data while i am connected and practice strategies with no internet connection.
I don't use any software for back-testing anymore because I no longer code trading systems, but when I did I used TradeStation, or MetaStock to a lesser degree.

TradingView has free back-testing software.
Always a Student, Never a Master - Emulate What Works
Quoting Onisowo
Good morning everyone. Please, I'll like to ask if this indicators work on MT5. Thank you.
Hi Caspian-Swan,
Unfortunately, RHO indicator does not work at MT5, but if you compress the axes of 2 MACD indicator, you can do it yourself. Try it.
This chart perfectly illustrates the significance of the RoadMap.
Attached Image (click to enlarge)
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Always a Student, Never a Master - Emulate What Works
Quoting RobinHood
Here's something that I have been playing around with lately if anyone is interested. I am using 3 simple moving averages. They are: 4 sma, -1, yellow dotted line 4 sma, 0, magenta solid line 4 sma, +1, blue solid line I have also tried sma's: 5, 6, 7, and 8, and each one has it's merits. I am using sma's here because they are smoother than the ema's, which I like better in this instance. What I like about it is that it shows you very well when the price starts going sideways, and it defines trends pretty well. But the jury is still out as it also...
Dear RobinHood
THANK YOU , THANK YOU , THANK YOU , THANK YOU
Thank you for your idea.Very simple but powerfool( FOR ME)
I call it ROBINHOOD 444 trading system
You can see it on a 15 minutes chart.
AGAIN THANK YOU VERY MUCH
Attached Image (click to enlarge)
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All the best
Dan
Quoting dansmol
{quote} Dear RobinHood THANK YOU , THANK YOU , THANK YOU , THANK YOU Thank you for your idea.Very simple but powerfool( FOR ME) I call it ROBINHOOD 444 trading system You can see it on a 15 minutes chart. AGAIN THANK YOU VERY MUCH {image} All the best Dan
Looking awesome! Do you mind sharing your template?
I'm trying to get close to this strategy but i find a bit confusing on the post which are now the indicators needed for this strategy. Does anyone have a summary of the latest ones?

Thanks a lot guys!
Hi RH.
I have found 3 entries on Nasdaq 2 minutes chart last friday.
1st - premarket period entry.
2nd - entry at NY open
3rd - entry after almost 200 points upmove. Maybe thats why it would be loss trade.
Attached Image (click to enlarge)
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@RobinHood what do you think about still trailing the SL two bars back?

During the weekend I was comparing that versus the exit signals of the oscillators and I realised that most of the times the oscillators kept us in the trade longer and sometimes even survived the pullback.

But of course other times we could have reduced our losses when the trade was not going in our favour.
Only the Mediocre are Always at their Best
Quoting Kizuma
I'm trying to get close to this strategy but i find a bit confusing on the post which are now the indicators needed for this strategy. Does anyone have a summary of the latest ones? Thanks a lot guys!
try to read a couple pages back you get all you need



As for me there is absolutely a mental block when i go from trading at lower lots vs when i try the bigger lots, it is simply not the same thing. I'm now trying to only see pips or percentages and ignore values
Quoting RobinHood
This chart perfectly illustrates the significance of the RoadMap. {image}
Can you share how to install 2 MACD on TC2000 for me? I tried to install it but it doesn't look like yours. thank you very much
Good morning all
My monthly report. Was a very good June. +23%
May +6%
April +12%
All trades taken using the rules from the first page with some modifications using daily timeframe.
Attached Images (click to enlarge)
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Hi RobinHood,
Is it more important that the price on road map or, is it more important that the RH histogram shows up while researching to the HTF(for long). To day at stock markt, a stock's HTF hisogram was showing up side and the price was under the road map, so I hesitated. in this case, it is necessary not to trade, or trade accordıng to HTF hıstogram.
I just got back from a cruise and I will try to answer all the questions as get the time to.
Always a Student, Never a Master - Emulate What Works
Quoting PipsAndGainz
@RobinHood what do you think about still trailing the SL two bars back? During the weekend I was comparing that versus the exit signals of the oscillators and I realised that most of the times the oscillators kept us in the trade longer and sometimes even survived the pullback. But of course other times we could have reduced our losses when the trade was not going in our favour.
There is no perfect stop placement as we all know.

I have no doubt that the oscillators will keep you in trades longer, but your losses will also most often be larger than if you use 1-2 bars back.

I like taking small losses better. I don't mind being wrong small over and over again. What I do mind is large losing trades.

Every trader has to use whatever stop placement method that they are the most comfortable with.
Always a Student, Never a Master - Emulate What Works
Quoting kecodon
{quote} Can you share how to install 2 MACD on TC2000 for me? I tried to install it but it doesn't look like yours. thank you very much
The second MACD must be "overlay and scaled with" the first MACD. Let me know if you still can't figure it out and I will walk you through it step by step.
Always a Student, Never a Master - Emulate What Works
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