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Trading Made Simple(r)

  • #8,521
  • Mar 28, 2023 12:31am Mar 28, 2023 12:31am
Quoting RobinHood
{quote} 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.
And what about Continuation trades? Are you waiting for additional candle to surpass the "back to trend" candle and then enter? Or still enter as soon as the continuation signal candle closes and all indicators are in your favor?
  • #8,522
  • Mar 28, 2023 7:11am Mar 28, 2023 7:11am
Quoting giksaw
{quote} And what about Continuation trades? Are you waiting for additional candle to surpass the "back to trend" candle and then enter? Or still enter as soon as the continuation signal candle closes and all indicators are in your favor?
"Are you waiting for additional candle to surpass the "back to trend" candle and then enter?"

Yes
Always a Student, Never a Master - Emulate What Works
  • #8,523
  • Mar 28, 2023 6:28pm Mar 28, 2023 6:28pm
Quoting RobinHood
{quote} "Are you waiting for additional candle to surpass the "back to trend" candle and then enter?" Yes
If the additional candle is outside the roadmap and the "back to trend continuation candle is inside the roadmap. is it valid? or both (signal continuation/"back to trend" candle) AND the lower or higher candle has to be outside of the roadmap?
  • #8,524
  • Mar 29, 2023 8:39am Mar 29, 2023 8:39am
Quoting giksaw
{quote} If the additional candle is outside the roadmap and the "back to trend continuation candle is inside the roadmap. is it valid? or both (signal continuation/"back to trend" candle) AND the lower or higher candle has to be outside of the roadmap?
"If the additional candle is outside the roadmap and the "back to trend continuation candle is inside the roadmap. is it valid?"

Yes. But ideally, given my preference, I would rather it be outside of the RoadMap. I just don't like initiating trades inside of the RoadMap unless there happens to be a strong trend.
Always a Student, Never a Master - Emulate What Works
  • #8,525
  • Mar 29, 2023 12:30pm Mar 29, 2023 12:30pm
Quoting RobinHood
{quote} "If the additional candle is outside the roadmap and the "back to trend continuation candle is inside the roadmap. is it valid?" Yes. But ideally, given my preference, I would rather it be outside of the RoadMap. I just don't like initiating trades inside of the RoadMap unless there happens to be a strong trend.
Well the initiation of the trade would be outside of the roadmap because the additional candle is outside the roadmap but the signal candle is inside the roadmap. So you prefer both of them to close outside (or initiation candle is abut to close outside) of the roadmap and then initiate the trade?
  • #8,526
  • Mar 29, 2023 4:48pm Mar 29, 2023 4:48pm
Hello everyone,

I have been following this thread very recently I have went through page #1 to page around #67 reading and catching up, I saw a setup with the system on post #1 so out of curiosity decided to see if anyone has taken it, to my shock I see that everyone's chart looks really different than mine which made me feel like I have lost the plot, can someone please recap everything that I have missed in terms of the actual system, this is the current chart view I have.

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I would be extremely grateful to anyone that can get me up to speed on what is happening hahaha.
  • #8,527
  • Mar 29, 2023 5:32pm Mar 29, 2023 5:32pm
Quoting Outcast918
Hello everyone, I have been following this thread very recently I have went through page #1 to page around #67 reading and catching up, I saw a setup with the system on post #1 so out of curiosity decided to see if anyone has taken it, to my shock I see that everyone's chart looks really different than mine which made me feel like I have lost the plot, can someone please recap everything that I have missed in terms of the actual system, this is the current chart view I have. {image} I would be extremely grateful to anyone that can get me up to speed...
Quick update I have found some things while browsing through the links and attachments tabs, this is what I am on right now.

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I am not entirely sure what are the rules of this intra day system but buzzin to go through it and start testing it.

If anyone has any feedback I will be deeply grateful!
  • #8,528
  • Mar 30, 2023 6:43am Mar 30, 2023 6:43am
Quoting giksaw
{quote} Well the initiation of the trade would be outside of the roadmap because the additional candle is outside the roadmap but the signal candle is inside the roadmap. So you prefer both of them to close outside (or initiation candle is abut to close outside) of the roadmap and then initiate the trade?
It doesn't matter to me where the signal candle is, I just don't like entering a trade inside of the RoadMap.
Always a Student, Never a Master - Emulate What Works
  • #8,529
  • Mar 30, 2023 6:52am Mar 30, 2023 6:52am
Quoting Outcast918
Hello everyone, I have been following this thread very recently I have went through page #1 to page around #67 reading and catching up, I saw a setup with the system on post #1 so out of curiosity decided to see if anyone has taken it, to my shock I see that everyone's chart looks really different than mine which made me feel like I have lost the plot, can someone please recap everything that I have missed in terms of the actual system, this is the current chart view I have. {image} I would be extremely grateful to anyone that can get me up to speed...
What is posted on Page #1, Post #1 is still valid...and it's all you really "need", but like many things in life this thread has "evolved" over the course of over 8,500 posts and almost 4 years.

I don't think anyone is going to "recap everything that you have missed" because it would be far too taxing for someone to do. I think you are just going to have to read the whole thread in order to understand all of the changes and nuances that have happened over time.
Always a Student, Never a Master - Emulate What Works
  • #8,530
  • Mar 30, 2023 8:00am Mar 30, 2023 8:00am
Quoting RobinHood
{quote} What is posted on Page #1, Post #1 is still valid...and it's all you really "need", but like many things in life this thread has "evolved" over the course of over 8,500 posts and almost 4 years. I don't think anyone is going to "recap everything that you have missed" because it would be far too taxing for someone to do. I think you are just going to have to read the whole thread in order to understand all of the changes and nuances that have happened over time.
Hey Robinhood thanks for the reply, I think the wording was wrong, what I meant to say that just like post one if there are any new rules list available for day trading that would be appreciated.

Also to add on the point evolution it is great to see and I am happy to be an adapter of change and embrace it.
  • #8,531
  • Mar 30, 2023 11:36am Mar 30, 2023 11:36am
Quoting Outcast918
{quote} Hey Robinhood thanks for the reply, I think the wording was wrong, what I meant to say that just like post one if there are any new rules list available for day trading that would be appreciated. Also to add on the point evolution it is great to see and I am happy to be an adapter of change and embrace it.
There is no actual new list of rules that I am aware of. Nor was it ever my intention for it to be used as a day trading system, although I guess it could be as I have done it, BUT...I would suggest someone be damn good at trading BEFORE they start day trading because it can be the most frustrating type of trading that you will ever do.

Some advice I would offer is...stick to only trading Continuation Trades in the beginning.
Always a Student, Never a Master - Emulate What Works
  • #8,532
  • Mar 31, 2023 1:31am Mar 31, 2023 1:31am
Quoting RobinHood
{quote} It doesn't matter to me where the signal candle is, I just don't like entering a trade inside of the RoadMap.
What to do if a signal candle and the 2nd or 3rd candles are still inside the roadmap and the candle/s after that are outside of the roadmap and still trending. Do you take those trades or it's too risky still? (I remember you wrote only enter if it's a valid trade on the 2nd or 3d candle, later it's too late therefore too risky). Is this still the case, even if it's going outside of the roadmap only on the 3th candle or later? Sorry about the repetition, I'm very tired today.
  • #8,533
  • Edited 4:06pm Mar 31, 2023 10:04am | Edited 4:06pm
Quoting giksaw
{quote} What to do if a signal candle and the 2nd or 3rd candles are still inside the roadmap and the candle/s after that are outside of the roadmap and still trending. Do you take those trades or it's too risky still? (I remember you wrote only enter if it's a valid trade on the 2nd or 3d candle, later it's too late therefore too risky). Is this still the case, even if it's going outside of the roadmap only on the 3th candle or later? Sorry about the repetition, I'm very tired today.
You can still take the trade but in my experience, on average, it is best to enter a trade as close to the signal candle as possible. Much more than 1 or 2 candles past the signal candle and I usually just skip the trade...depending on the momentum.

While nothing works 100% of the time in trading, you are far better off to create and use a set of well thought out rules and indicators that you continuously abide by.

I always think to myself that it's amazing, just truly amazing how I can create my own set of trading rules and nearly 100% of the time that I break them, I will get punished by losing on the trade.

For example, I have been day trading Tesla all this week, and 3 times I jumped the gun and entered before ALL of my entry criteria were met and all 3 times I lost on the trades. It's just crazy how traders can do that and lose over and over again.
Always a Student, Never a Master - Emulate What Works
  • #8,534
  • Apr 3, 2023 6:57pm Apr 3, 2023 6:57pm
Quoting RobinHood
{quote} 7. I always think to myself that it's amazing, just truly amazing how I can create my own set of trading rules and nearly 100% of the time that I break them, I will get punished by losing on the trade. For example, I have been day trading Tesla all this week, and 3 times I jumped the gun and entered before ALL of my entry criteria were met and all 3 times I lost on the trades. It's just crazy how traders can do that and lose over and over again.


Hi David.
I typed that line out and have it placed at the base of my screens--as a reminder that the future is difficult to predict---

Quote" Nor was it ever my intention for it to be used as a day trading system, although I guess it could be as I have done it, BUT...I would suggest someone be damn good at trading BEFORE they start day trading because it can be the most frustrating type of trading that you will ever." end quote

i look at it everyday----Thank you for sharing your experiences.
  • #8,535
  • Apr 5, 2023 3:11am Apr 5, 2023 3:11am
Hello RH and fellow traders,

Now I'm new to trading stocks and I have especially one thing I've noticed that maybe you guys can provide insight with. I mostly trade TESLA & AMAZON because those charts are smooth, and I presume they're high-volume stock so getting in and out should be smooth with my 0.05 lot sizes in a micro account. Now here lies my problem and confusion since I don't understand why or how. Most of the moves I like on those two charts always begin around London session. But whenever I attempt to open a position, I get and error on the journal "off quotes prices" I think. And this error persists even in the early US session. By the time I'm allowed to get in... the moves have already span out for quite a while and I'm usually very nervous going in. Can anyone who trades stocks please explain, I'm feeling rather deflated
"You can't buy the bottom, nor sell the top. The best you can strive for is
  • #8,536
  • Apr 5, 2023 9:11am Apr 5, 2023 9:11am
Quoting Nonip
Hello RH and fellow traders, Now I'm new to trading stocks and I have especially one thing I've noticed that maybe you guys can provide insight with. I mostly trade TESLA & AMAZON because those charts are smooth, and I presume they're high-volume stock so getting in and out should be smooth with my 0.05 lot sizes in a micro account. Now here lies my problem and confusion since I don't understand why or how. Most of the moves I like on those two charts always begin around London session. But whenever I attempt to open a position, I get and error...
I have had the same problem many times.

Here's the official answer:

“Off quotes” is an error message which means no price is available on the platform. This error can appear in Metatrader in two scenarios: If there is a break in connectivity with the platform. The best price for the pair you're trading is not within the “maximum deviation” range you have set.

Here's the solution:

How To Fix “Off Quotes” in MT4/MT5

https://blueberrymarkets.com/support...es-in-mt4-mt5/
Always a Student, Never a Master - Emulate What Works
  • #8,537
  • Edited Apr 6, 2023 8:07am Apr 5, 2023 3:59pm | Edited Apr 6, 2023 8:07am
As many of you know, I have a huge library of trading books. I collect and read them as it's my only hobby and it has been for about 40 years.

There 3 most important parts to trading. I call them the 3 M's of trading. They are: Mind, Method and Money Management. And you can't succeed in trading without all 3.

Notice that Mind comes first because it's the most important aspect of trading successfully and I still constantly work on how to improve mine.

That brings me to the point of this post.

When it come to mastering trading psychology Mark Douglas's book have become the gold standard for most traders.

BUT...I just read 2 books that I think are even better than his and would be in my top dozen best trading books.

One is called "New Trader, Rich Trader" and the 2nd one is called "New Trader, Rich Trader 2".

I HIGHLY suggest you read them both. After you read both of them, I would really like to hear other people's opinion on them.
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Always a Student, Never a Master - Emulate What Works
  • #8,538
  • Apr 6, 2023 4:52am Apr 6, 2023 4:52am
Quoting RobinHood
{quote} I have had the same problem many times. Here's the official answer: “Off quotes” is an error message which means no price is available on the platform. This error can appear in Metatrader in two scenarios: If there is a break in connectivity with the platform. The best price for the pair you're trading is not within the “maximum deviation” range you have set. Here's the solution: How To Fix “Off Quotes” in MT4/MT5 https://blueberrymarkets.com/support...es-in-mt4-mt5/
Thank you again, RH. I will take a look at the solution you've shared.
"You can't buy the bottom, nor sell the top. The best you can strive for is
  • #8,539
  • Apr 6, 2023 8:59am Apr 6, 2023 8:59am
Quoting Nonip
{quote} Thank you again, RH. I will take a look at the solution you've shared.
I trade TESLA CFD but just the stock price that does not include after hours trading data. You mentioned you trade TESLA in london session. Do you mean you trade it during london US session overlap?

I'm short nicely on Tesla now with my analysis based purely on regular hours trading data(9:30 AM to 4:00 PM EST)

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  • #8,540
  • Apr 6, 2023 10:33am Apr 6, 2023 10:33am
Quoting sharingan9
{quote} I trade TESLA CFD but just the stock price that does not include after hours trading data. You mentioned you trade TESLA in london session. Do you mean you trade it during london US session overlap? I'm short nicely on Tesla now with my analysis based purely on regular hours trading data(9:30 AM to 4:00 PM EST) {image}
Yes, just as the US session opens. My broker doesn't offer TESLA CFD, wasn't even aware such an instrument exists.
"You can't buy the bottom, nor sell the top. The best you can strive for is
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