Trading Made Simple(r)

Quoting 40PipsAlan

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Looks like a Trend continue to me. EDIT:- Close for +102 {image}

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Quoting holyGrill

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{quote} hi 40PipsAlan, what is your (multiple) entry method? (looks like you have 2 BUYs) Also are you only trading specific hours (like London Open > US close)?

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Quoting holyGrill

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{quote} hi 40PipsAlan, what is your (multiple) entry method? (looks like you have 2 BUYs) Also are you only trading specific hours (like London Open > US close)?

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Quoting rescuenava

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Continuation trade {image}

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Quoting 40PipsAlan

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{quote} Something else to look at is the SMI just dipping below the zero and then back up for a buy trade. The stochs are crossing nicely and pointing upwards as well. {image}

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Quoting holyGrill

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{quote} Nice one thanks Alan - what is SMI btw? "Seems I get to 2 trades and then close them thru fear I guess when they start turning back." If you set SL your fears should be taken care of? (but I know watching trades turn against you can be stressful, I have the same, just hoping the trailing SL will make the loss more bearable!) Do you trade multiple TFs btw or just one (15M in this case)?

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Quoting 40PipsAlan

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{quote} SMI =Stochastic Momentum Index. Is part of the TMMS oscillator (yellow line) Or you can have it on its own or alongside the Stoch14 for the crosses. Yes I watch the M15 mostly and around news times. SMI dips below zero and back up again in the picture. cross of the stoch14 is a buy signal on the TMMS oscillator. I have drawn a SR line as well to show the break and retest. {file} {file} {image}

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Quoting emmanuel7788

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{quote} RHO is another brilliant idea and is innovative we have MT4 multi-screen like Dr Alexander Elder' Triple Screen Trading System with just one profile , at one glance you can see what you are trading in synergy with the H4, Daily and Weekly {image}

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Quoting RobinHood

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{quote} I don't look at it as "bad signals", I look at it as losing trades. Indicators simply "indicate" which way the market might move, they obviously can't always be right because no trader, no trading system, and no trading method is always right. I like to say that most professional baseball players miss hitting the ball 7-8 times out of 10, and yet their average salary is now $4.41 million dollars a year. So I can win less than 50% of my trades and still do very well. In my opinion, the best you can do in day trading is to: 1. Enter a trade...

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Quoting PipsAndGainz

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{quote} I'm indeed having more success trading the daily and the weekly stock charts. When trading the Forex I find it is much easier to enter on the 4-hour chart and then converting it to the daily just like you used to do. These are some of the trades I'm currently in: {image}{image}{image}{image} I have some feedback from last month. 1) I'm not moving my stop loss 2 bars back but instead keeping it at the high or low of the last daily bar. 2) I've also been able to catch bigger trends when I exit based on the combination of 2-3 indicators but...

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Quoting RobinHood

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{quote} It looks like you are doing well and that's to be commended. I am not exactly sure what you want me to comment on, but I will assume that it's regarding exits, otherwise please let me know. In my opinion, exits are by far the hardest part of trading. Getting in is easy, knowing when or where to exit a trade is much harder. I exit trades in many different ways such as...stop losses, profit targets, 1 or 2 bars back (depending on what I see), after a hug spike in my favor, before the release of BIG data reports, big breaking news, time of...

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Quoting PipsAndGainz

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{quote} Honestly that was exactly what I wanted to know. If you strictly followed the 2 bars back or if you manage each trade differently because I've been trying different methods and combinations and just wanted to know if I'm on the right track. Thank you for always explaining everything we ask for. I'm doing well and that is mostly because of you and the thread you created. I really appreciate your help.

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Quoting 40PipsAlan

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{quote} SMI =Stochastic Momentum Index. Is part of the TMMS oscillator (yellow line) Or you can have it on its own or alongside the Stoch14 for the crosses. Yes I watch the M15 mostly and around news times. SMI dips below zero and back up again in the picture. cross of the stoch14 is a buy signal on the TMMS oscillator. I have drawn a SR line as well to show the break and retest. {file} {file} {image}

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Quoting holyGrill

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{quote} Hows your M15 trades going Alan? I'm on M30 and getting quite a few losses...

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Quoting 40PipsAlan

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{quote} Yo boss, Havent done any since that last one I posted. Is tough doing a full time job as well. But GU looks to be ranging for the last couple days and I need some trending. Looking at the chart we can see a stiff resistance at the 1.203 level and price coming down again to a support level at 1.195ish and then breaking it. If price comes back up to retest the 1.195 level I would be tempted to try a short then. Ignore the running trade. It was taken by a bot I am writing/learning to code. {image}

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Quoting 40PipsAlan

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{quote} GU made a LL and then a LH under my 89SMA (also at the 61.8 fib). Entered on the M5 and now at +20. Dollar news approaching fast, move to BE Tough bit is when to get out. {image} {image}

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