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Trading Made Simple(r)

  • #8,501
  • Mar 16, 2023 12:29pm Mar 16, 2023 12:29pm
Quoting giksaw
Hi Robinhood, It seems like price does nothing at Turncoat Support . What settings are you using with the SS_SupportResistance_v07.53 (Filter Alerts MA) indicator? Did you turn that off? Which SR areas are you paying attention to or have you decided to stick to what you always thought that SR is a 50% kind of thing in your trading hence you excluded it... Thank you
I still do believe that S/R is a 50/50 kind of a thing. I don't use it to trade per se. I only have it on my charts to make me aware of what could possibly become reversal points.

For example, if I am in a trade and I see what was a previously a significant S/R Zone, I will watch that zone very closely and then trade accordingly.

Or, If I get an entry signal near a significant S/R Zone, I will wait to enter (or not) once price has resolved itself around that S/R zone .

BTW, I am just using the default settings.
Always a Student, Never a Master - Emulate What Works
  • #8,502
  • Mar 16, 2023 12:43pm Mar 16, 2023 12:43pm
Quoting RobinHood
{quote} I still do believe that S/R is a 50/50 kind of a thing. I don't use it to trade per se. I only have it on my charts to make me aware of what could possibly become reversal points. For example, if I am in a trade and I see what was a previously a significant S/R Zone, I will watch that zone very closely and then trade accordingly. Or, If I get an entry signal near a significant S/R Zone, I will wait to enter (or not) once price has resolved itself around that S/R zone . BTW, I am just using the default settings.
Is this a valid cross entry? I entered on the last candle.
Also, I changed the SR setting of the time frame it's looking at so instead of 0, it's looking at only 1 Hr SR lines. Do you think it's a good filter? It got rid of the closest SR which was marked as Turncoat SR and now it's not there.
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  • #8,503
  • Mar 16, 2023 5:24pm Mar 16, 2023 5:24pm
Quoting giksaw
{quote} Is this a valid cross entry? I entered on the last candle. Also, I changed the SR setting of the time frame it's looking at so instead of 0, it's looking at only 1 Hr SR lines. Do you think it's a good filter? It got rid of the closest SR which was marked as Turncoat SR and now it's not there. {image} {image}
I recommend entry at candle 2 or 3 and TF 4 Hours. I see your entry is not good..good luck mate
  • #8,504
  • Mar 17, 2023 12:33am Mar 17, 2023 12:33am
Quoting BatonaFX
{quote} I recommend entry at candle 2 or 3 and TF 4 Hours. I see your entry is not good..good luck mate
Entry is on candle #3. according to the instructions. Why entry is not good?
1st candle is the 3rd before the end -> verified HMA cross and candle closed outside of roadmap,
2nd candle price went higher then candle #1
Entry on #3 ( a bit late but valid according to instructions)
  • #8,505
  • Mar 17, 2023 5:24am Mar 17, 2023 5:24am
Quoting giksaw
{quote} Is this a valid cross entry? I entered on the last candle. Also, I changed the SR setting of the time frame it's looking at so instead of 0, it's looking at only 1 Hr SR lines. Do you think it's a good filter? It got rid of the closest SR which was marked as Turncoat SR and now it's not there. {image} {image}
Yes, it's a valid entry. But Ideally, you should have entered 1 bar/candle earlier.

If you are trading 15 min. charts, which it appears that you are, then looking at 1 hr. S/R Zones is okay to do.
Always a Student, Never a Master - Emulate What Works
  • #8,506
  • Mar 20, 2023 4:02am Mar 20, 2023 4:02am
Hi RobinHood.
Thanks for this amazing strategy that you decided to share with us. I’ve used it and paper traded it and it’s amazing. The exit plan is so simple yet it ride most of the trend!

One thing I’m curious does it works on EVERY forex pair with this system? Even SUPER EXOTIC pair?

thanks again robinhood
  • #8,507
  • Mar 20, 2023 7:16am Mar 20, 2023 7:16am
Quoting yhcniche
Hi RobinHood. Thanks for this amazing strategy that you decided to share with us. I’ve used it and paper traded it and it’s amazing. The exit plan is so simple yet it ride most of the trend! One thing I’m curious does it works on EVERY forex pair with this system? Even SUPER EXOTIC pair? thanks again robinhood
Thank you for the kind words. I have successfully traded it on exotic pairs.
Always a Student, Never a Master - Emulate What Works
  • #8,508
  • Mar 20, 2023 9:56am Mar 20, 2023 9:56am
I do have a question for the crossover trade entry tho. Does your 1st candle setup means that if I'm gonna enter long the previous crossover candle MUST be red & the crossover candle turned blue?

Or is entering with a previous crossover candle blue candle and another blue candle cross over ema is fine too?
  • #8,509
  • Mar 20, 2023 12:21pm Mar 20, 2023 12:21pm
Quoting yhcniche
I do have a question for the crossover trade entry tho. Does your 1st candle setup means that if I'm gonna enter long the previous crossover candle MUST be red & the crossover candle turned blue? Or is entering with a previous crossover candle blue candle and another blue candle cross over ema is fine too?
Does your 1st candle setup means that if I'm gonna enter long the previous crossover candle MUST be red & the crossover candle turned blue? NO

Or is entering with a previous crossover candle blue candle and another blue candle cross over ema is fine too? YES

When I first started this thread, at that time I did adhere to the rule that the candles must be one color and then change to the opposite color before entering a Crossover Trade, but now I've seen too many instances where there are good Crossover Trades and the candles remain the same color before and after the crossover so now I am not so strict about following that rule.
Always a Student, Never a Master - Emulate What Works
  • #8,510
  • Mar 20, 2023 4:33pm Mar 20, 2023 4:33pm
I see. Thanks a lot for taking your time to clear up my misunderstanding. Cheers!
  • #8,511
  • Mar 22, 2023 9:58am Mar 22, 2023 9:58am
Amazing thread.

Will be trading H4 and D1 mainly.
  • #8,512
  • Edited 1:36pm Mar 22, 2023 1:22pm | Edited 1:36pm
This system is my #1,, very happy to have "found" it, I tried to use the smTTms-RobinHood DV_v2.2 again, but it is not working anymore...PLEASE Swingman, Could you fix it?
Thank You

Attached File(s)
File Type: ex4 smTMMS-RobinHood DB_v2.2.ex4   102 KB | 432 downloads


Edit... Sorry, I forgot that this 'indicator' should be in the experts folder, NOT in the "indicators' folder!, working now...
"Great Men are not born great, They Grow Great."
  • #8,513
  • Mar 23, 2023 4:10am Mar 23, 2023 4:10am
Quoting MyProfit
This system is my #1,, very happy to have "found" it, I tried to use the smTTms-RobinHood DV_v2.2 again, but it is not working anymore...PLEASE Swingman, Could you fix it? Thank You {file} Edit... Sorry, I forgot that this 'indicator' should be in the experts folder, NOT in the "indicators' folder!, working now...
I think we use this now.
Attached File(s)
File Type: ex4 smTMMS Oscillator_v7.3.1.ex4   47 KB | 439 downloads
  • #8,514
  • Mar 24, 2023 11:12am Mar 24, 2023 11:12am
Hello guys, there's fewer places/people I trust like the guys on this thread. That said, would any of you guys recommend good brokers/platforms where one can start trading stocks with the least possible deposit? TIA
"You can't buy the bottom, nor sell the top. The best you can strive for is
  • #8,515
  • Mar 24, 2023 11:34am Mar 24, 2023 11:34am
Quoting Nonip
Hello guys, there's fewer places/people I trust like the guys on this thread. That said, would any of you guys recommend good brokers/platforms where one can start trading stocks with the least possible deposit? TIA
My preference is Interactive Brokers. Very low commissions and you can trade almost anything there. Stocks, Futures, Commodities, Forex, Options, etc.

https://www.interactivebrokers.com/en/home.php
Always a Student, Never a Master - Emulate What Works
  • #8,516
  • Mar 24, 2023 11:42am Mar 24, 2023 11:42am
Quoting RobinHood
{quote} My preference is Interactive Brokers. Very low commissions and you can trade almost anything there. Stocks, Futures, Commodities, Forex, Options, etc. https://www.interactivebrokers.com/en/home.php

Thank you for the very prompt reply RH.
"You can't buy the bottom, nor sell the top. The best you can strive for is
  • #8,517
  • Mar 26, 2023 2:56pm Mar 26, 2023 2:56pm
Below is the link to is a very handy type of trading tool that all Forex traders should be using for every trade.

Generally speaking (in my opinion)...

If you have a small account (under $10k USD) I suggest risking 1% to 2% per trade and going for a profit target of 2% to 4%.

If you have a larger account (over $10k USD) I suggest risking .5% to 1% per trade and going for a profit target of 1% to 2%.

The reason for the difference is that if you have a very small account, it will take a very long time for most traders to grow it quickly using the same R:R as a larger account, whereas if you have a big account then there is no reason to bet like you have a small account since with a large account you can still make a lot of money while risking less.

Otherwise, you could place your Stop at a swing low or swing high, or two bars back, etc. and then calculate your risk and then that would tell you what size you should be trading for that trade.

Position Size Calculator

https://www.babypips.com/tools/position-size-calculator

Also very helpful...

Calculating Position Sizes

https://www.babypips.com/learn/forex...position-sizes

And

Pip Value Calculator

https://www.babypips.com/tools/pip-value-calculator
Always a Student, Never a Master - Emulate What Works
  • #8,518
  • Edited 4:34pm Mar 26, 2023 3:08pm | Edited 4:34pm
Regarding Support and Resistance Levels/Zones...

If you've read enough of this thread, then you probably know that I believe that S/R levels/zones only work about 50% of the time...

Here's a Forex trader that has made millions of dollars trading the Forex who trades using ONLY Support and Resistance Levels/Zones who ALSO says that S/R levels/zones ONLY work about 50% of the time (and he's okay with that). Now let that sink in.

Inserted Video
Always a Student, Never a Master - Emulate What Works
  • #8,519
  • Mar 27, 2023 12:35am Mar 27, 2023 12:35am
Hello RH,

Where would you enter?
candle #1 becasue it's the signal candle and it's higher than the candle before it, both candles are outside the roadmap, OR you would wait for #2 to go higher than the signal candle #1 (in that case it wasn't the case)? In other words, the candle after the signal candle has to be higher, or the signal candle itself is enough becasue it's higher than the candle before it which was outside of the roadmap as well?
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  • #8,520
  • Mar 27, 2023 5:40am Mar 27, 2023 5:40am
Quoting giksaw
Hello RH, Where would you enter? candle #1 becasue it's the signal candle and it's higher than the candle before it, both candles are outside the roadmap, OR you would wait for #2 to go higher than the signal candle #1 (in that case it wasn't the case)? In other words, the candle after the signal candle has to be higher, or the signal candle itself is enough becasue it's higher than the candle before it which was outside of the roadmap as well? {image}
The entry can't be on candle #1 because the HMA and the Yellow ema have not actually crossed into a positive direction until candle #1 closes.

I would enter on the open of candle #2.

But...

More and more I find myself only entering long trades just above the high of the signal bar, and vice-versa for short trades.

Sometimes it works out in my favor, and sometimes it doesn't.

I like doing it that way because, to me, it implies that the trend up is more than likely continuing up.
Always a Student, Never a Master - Emulate What Works
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