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lets develop a system which is very very simple but effective. 7 replies

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A very simple system - trade with arrow

  • #9,581
  • Sep 14, 2022 9:16am Sep 14, 2022 9:16am
Quoting kamyab1996
all the arrow indicator have repaint please do not use them at all.i lost 6 month on them
Kamyab,

You are still new to this endeavour and need more time to gain experience, just learn how to use them and in time, you will learn how not to use them too.
Be careful not to jump from one indicator to the next or one system to the next, that will bleed you more years of pain and losses.

All the best and indeed I feel your pain, we all have been through it too and still here going.

More green pips to us all.
Born to rule my Economic World and Make a Difference!
  • #9,582
  • Sep 14, 2022 9:24am Sep 14, 2022 9:24am
I had taken a long on ECad like I did yesterday. I ws stopped out then at -2 though my stop was actually at +10 owing to the cpi data from the US. Today I was also stopped out but at the correct price
Attached Image (click to enlarge)
Click to Enlarge Name: EURCAD.pM15.png Size: 32 KB
the cautious seldom err....C
  • #9,583
  • Sep 14, 2022 9:37am Sep 14, 2022 9:37am
Quoting kamyab1996
all the arrow indicator have repaint please do not use them at all.i lost 6 month on them
The arrow just shows the cross of the ema..there will be a lot of arrows (whipsaws) on lower tf. Foolsgame, I believe has stopped using them if I'm not mistaken..leave the arrows aside ,they are for archers, use this instead, much more accurate
Attached Image (click to enlarge)
Click to Enlarge Name: Capturesniper.PNG Size: 3 KB
the cautious seldom err....C
  • #9,584
  • Sep 20, 2022 6:01am Sep 20, 2022 6:01am
I haven't traded for some time and today I missed so much but after New York open I couldn't let this one short go.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Pips29 13.png Size: 78 KB
Click to Enlarge Name: TE 1.png Size: 2 KB
Let it turn and find your entry.
  • #9,585
  • Sep 20, 2022 6:18am Sep 20, 2022 6:18am
Quoting Intrepidpips
I haven't traded for some time and today I missed so much but after New York open I couldn't let this one short go. {image} {image}
Slow and steady is how the race is won.
Born to rule my Economic World and Make a Difference!
  • #9,586
  • Sep 20, 2022 6:40am Sep 20, 2022 6:40am
Quoting Intrepidpips
I haven't traded for some time and today I missed so much but after New York open I couldn't let this one short go. {image} {image}

I couldn't resist taking another short but on a separate account
Attached Image (click to enlarge)
Click to Enlarge Name: Pips29 14.png Size: 81 KB
Let it turn and find your entry.
  • #9,587
  • Sep 20, 2022 7:00am Sep 20, 2022 7:00am
Someone asked about the symbol changer
Attached File(s)
File Type: ex4 Symbol changer 1.1 separate.ex4   14 KB | 333 downloads
File Type: mq4 Symbol changer 1.1 separate.mq4   6 KB | 385 downloads
Let it turn and find your entry.
  • #9,588
  • Sep 20, 2022 7:10am Sep 20, 2022 7:10am
just a quick trade for some pips, took the trade slightly later as I was not looking at it earlier
Attached Image (click to enlarge)
Click to Enlarge Name: EURCAD.pM5.png Size: 26 KB
the cautious seldom err....C
  • #9,589
  • Sep 20, 2022 7:12am Sep 20, 2022 7:12am
Quoting Intrepidpips
{quote} I couldn't resist taking another short but on a separate account {image}
Hi Intrepid,

I downloaded the double MA dashboard you sent earlier, but I can't seem to get a clean look like you have. Any idea? I've added a screenshot
Attached Image (click to enlarge)
Click to Enlarge Name: MA dashboard.png Size: 22 KB
  • #9,590
  • Sep 20, 2022 8:34am Sep 20, 2022 8:34am
Quoting Intrepidpips
{quote} I couldn't resist taking another short but on a separate account {image}

I have had insane results with Demo accounts before but with Live it's never been this good. Thanks to all the contributors on this thread, you guys are super heroes
Attached Image (click to enlarge)
Click to Enlarge Name: TE 2.png Size: 3 KB
Let it turn and find your entry.
  • #9,591
  • Sep 20, 2022 8:46am Sep 20, 2022 8:46am
Quoting MA9
{quote} Hi Intrepid, I downloaded the double MA dashboard you sent earlier, but I can't seem to get a clean look like you have. Any idea? I've added a screenshot {image}
Why not delete it and attach it again to your chart because it seems very straight forward indicator, then maybe your chart properties need tweaking.

Check your Chart properties
Attached Image(s) (click to enlarge)
Click to Enlarge Name: DASHBOARD.png Size: 12 KB
Click to Enlarge Name: Chart properties.png Size: 6 KB
Let it turn and find your entry.
  • #9,592
  • Sep 20, 2022 11:11am Sep 20, 2022 11:11am
Well I'm glad to be back properly. I've been popping in every now and again and pleased to see you all pipping I have been having a rethink along with the break and I have set myself a target daily (percentage wise) on my own live account, and when I hit that I will stop. Going for higher risk on the m5 chart, as its higher risk I am trailing behind the previous candle that is going in the right direction, so only the bearish candles if I have a sell in and vice versa as I can't sit and watch the trade. Luckily I found an EA that will do exactly that after reading through some posts and will put in hard stops which I prefer. I put this GU trade in not too long ago and when I had reached just over 5% profit I took it out instead of waiting for it to hit tp.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM5-20-09.png Size: 19 KB
  • #9,593
  • Sep 20, 2022 11:18am Sep 20, 2022 11:18am
Quoting Intrepidpips
{quote} I have had insane results with Demo accounts before but with Live it's never been this good. Thanks to all the contributors on this thread, you guys are super heroes {image}
Wow well done.

How much do you risk per trade? How many trades open at once?

I'm asking as I'm starting out. At the moment, i'm still demo trading but want to see what others risk etc.
  • #9,594
  • Sep 21, 2022 8:43am Sep 21, 2022 8:43am
Quoting MA9
{quote} Wow well done. How much do you risk per trade? How many trades open at once? I'm asking as I'm starting out. At the moment, i'm still demo trading but want to see what others risk etc.

One of the sages (Mark Douglas) said "Think in percentages"
That is determine the typical number of entry signals you get per day and decide how much you can afford to loose per to enable you live to trade another day.

For instance if you risk 1% per trade, you need 100 consecutive losing trades to wipe out your account, if you risk 2% per trade, you need 50 consecutive losing trades to wipe out your account.

If your edge presents say 10 signals in a day and your win ratio is say 50% that can guide you to say if I risk 2% and I lost all my trades I still have 60% of my capital intact, but with a 50% edge you would have a probability of 5 winning trades and 5 losing trades so you can only lose 10% of your account.

So what you should be asking is
1 what is profitability rate of the system you want to use to trade the markets?
2 How many entry signals does it typically generate by day?
3 how much are you willing to lose per day?

These questions will only be answered after you back test or forward test the system you want to deploy on the markets.

So your work is cut out for you.
Let it turn and find your entry.
  • #9,595
  • Sep 21, 2022 9:06am Sep 21, 2022 9:06am
I'm not expert at picking the best entry points yet, but I think the market is going sideways in anticipation of the FOMC news.
Attached Image (click to enlarge)
Click to Enlarge Name: Pips29 15.png Size: 81 KB



Sadly I missed the Frankfurt open move
Attached Image (click to enlarge)
Click to Enlarge Name: Pips29 16.png Size: 77 KB



Done for the day I live to trade another day
Let it turn and find your entry.
  • #9,596
  • Sep 21, 2022 9:40am Sep 21, 2022 9:40am
Quoting Intrepidpips
Done for the day I live to trade another day

I just couldn't allow the market have the last laugh,
Attached Image (click to enlarge)
Click to Enlarge Name: Pips29 17.png Size: 80 KB


but then I think I bailed too soon.
Let it turn and find your entry.
  • #9,597
  • Sep 23, 2022 7:04am Sep 23, 2022 7:04am
FOMO trade but I was confident EUR was gonna fall
Attached Image (click to enlarge)
Click to Enlarge Name: Pips29 18.png Size: 77 KB


but I lost my nerve and bailed.


Nice weekend all
Let it turn and find your entry.
  • #9,598
  • Sep 23, 2022 7:11am Sep 23, 2022 7:11am
Quoting Intrepidpips
FOMO trade but I was confident EUR was gonna fall{image} but I lost my nerve and bailed. Nice weekend all
I shorted this pair instead
Attached Image (click to enlarge)
Click to Enlarge Name: USDCHFM5.png Size: 33 KB
the cautious seldom err....C
  • #9,599
  • Sep 23, 2022 8:54am Sep 23, 2022 8:54am
I honestly wish I had come by and embraced this system like 3 years ago, I'm amazed that even when I am not available for all the signals, I can still have a positive outcome day in day out.

I missed the morning drop on EUISD & GBPUSD but I still made a decent catch, if I had taken all the available signals I'd have flipped my small account and I am wondering why I didn't trade it on my main account.

When you interrogate the information on the charts the answers will come to you, soon I should be able to master the entries and exits of this system.

Once more thanks to all the contributors on this thread.
Let it turn and find your entry.
  • #9,600
  • Sep 23, 2022 8:56am Sep 23, 2022 8:56am
my 2nd and probably last trade for today..let's see if the majors can come back when Powell speaks
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDM5.png Size: 33 KB
the cautious seldom err....C
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