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A very simple system - trade with arrow

  • #10,461
  • Aug 4, 2023 11:05am Aug 4, 2023 11:05am
Quoting pips29
{quote} will closing the chart and opening a new one helps
I tried many times, nothing happens, nothing changes . I don't know what is. Let's see maybe someone here will know.
  • #10,462
  • Aug 4, 2023 11:20am Aug 4, 2023 11:20am
Quoting pips29
first trade of the morning and in dd rightaway {image}

There's a lot hidden in this screenshot, I've been reviewing my charts with this as a bench mark.

I see that after the moving average crossover arrow, the best time to pull the trigger is after price closes either below the 10MA and closes back above it for a buy (reverse for sell) or bounces of it, all these while I just shoot from the hip and get my SL hit on multiple occasions.

I urge anyone finding it hard to be consistent to go over the charts and see again, there's no point taking multiple trades and getting slaughtered, seek quality set-ups and win, one or two trades per session or even for the whole day, rinse and repeat daily and the equity curve goes up and up.

MHO
Let it turn and find your entry.
  • #10,463
  • Aug 4, 2023 8:30pm Aug 4, 2023 8:30pm
Quoting Intrepidpips
{quote} There's a lot hidden in this screenshot, I've been reviewing my charts with this as a bench mark. I see that after the moving average crossover arrow, the best time to pull the trigger is after price closes either below the 10MA and closes back above it for a buy (reverse for sell) or bounces of it, all these while I just shoot from the hip and get my SL hit on multiple occasions. I urge anyone finding it hard to be consistent to go over the charts and see again, there's no point taking multiple trades and getting slaughtered, seek quality...




a well known trading coach said this:

Attached Image (click to enlarge)
Click to Enlarge Name: Focus Patient Good Trade to Make Profit.png Size: 51 KB




...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #10,464
  • Aug 4, 2023 8:40pm Aug 4, 2023 8:40pm
Quoting pips29
{quote} to help you in your "psychology" is to trade on a real account. You know what it means when you lose, when real money is involved your state of mind will be different before you enter a trade, during and after,imo

quite true... but you need an amount of real money which can tame the trader' emotion.

I know there traders with LIVE real USD100 cent-account and believe that one day they can trade LIVE real USD100,000 standard lot account.

...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #10,465
  • Aug 5, 2023 1:54am Aug 5, 2023 1:54am
Quoting Intrepidpips
{quote} I'm still trying to figure it all out myself, for now following the cross of MA 10 over MA 34 in M5 then going to M1 to find an entry. Here's the indicator {file}
is this weekly or daily ATr dash?
  • #10,466
  • Aug 7, 2023 3:00am Aug 7, 2023 3:00am
thanks for all the heads up will get bk and go high and higher
Do it like a Fool
  • #10,467
  • Aug 7, 2023 3:05am Aug 7, 2023 3:05am
Quoting Foolsgame
thanks for all the heads up will get bk and go high and higher
i closed my TE to public for the mean time..
Do it like a Fool
  • #10,468
  • Aug 7, 2023 3:54am Aug 7, 2023 3:54am
2 trades taken this morning
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURGBPxM5.png Size: 35 KB
Click to Enlarge Name: AUDUSDxM5.png Size: 36 KB
the cautious seldom err....C
  • #10,469
  • Aug 7, 2023 6:18am Aug 7, 2023 6:18am
I manually cloosed EG at b/e
the cautious seldom err....C
  • #10,470
  • Aug 7, 2023 8:20am Aug 7, 2023 8:20am
Quoting Foolsgame
thanks for all the heads up will get bk and go high and higher
believe me you aren't alone, on Thursday got 50pips on Friday lost 85pips! EJ and GJ ate it all .
Hard going, trying to align all stars and anyway you get hit SL. Easy when market is trending and you get in trade in time.
  • #10,471
  • Aug 7, 2023 8:36am Aug 7, 2023 8:36am
Quoting Giedrius
{quote} believe me you aren't alone, on Thursday got 50pips on Friday lost 85pips! EJ and GJ ate it all . Hard going, trying to align all stars and anyway you get hit SL. Easy when market is trending and you get in trade in time.
AU was a loss and all my profits from previous days were gone. I'm now on a GChf short using bbma..my short on EG was also done on bbma but I took it out at b/e. I will get back to scalping with the 10/34 ema as the stop I can use is way smaller than I could using bbma
the cautious seldom err....C
  • #10,472
  • Aug 7, 2023 8:54am Aug 7, 2023 8:54am
Quoting Giedrius
{quote} believe me you aren't alone, on Thursday got 50pips on Friday lost 85pips! EJ and GJ ate it all . Hard going, trying to align all stars and anyway you get hit SL. Easy when market is trending and you get in trade in time.
yea.... we need be patient and filtered some bad trade....
Do it like a Fool
  • #10,473
  • Aug 8, 2023 2:45am Aug 8, 2023 2:45am
Hello Pips29, I have a question regarding timeframe confluences. If you trade 5 min timframe, you watching on 30 min timframe as a direction of your trades?
  • #10,474
  • Aug 8, 2023 3:58am Aug 8, 2023 3:58am
Quoting AndryLV1984
Hello Pips29, I have a question regarding timeframe confluences. If you trade 5 min timframe, you watching on 30 min timframe as a direction of your trades?
hi! Andry, you are quite right but I rather have both M30 and H1 on my side.
the cautious seldom err....C
  • #10,475
  • Aug 8, 2023 4:05am Aug 8, 2023 4:05am
I got slapped by the market for not sticking to the method last night. Lesson learned
the cautious seldom err....C
  • #10,476
  • Aug 8, 2023 4:26am Aug 8, 2023 4:26am
Quoting pips29
{quote} hi! Andry, you are quite right but I rather have both M30 and H1 on my side.
Ok, thank you for answer.
  • #10,477
  • Aug 8, 2023 7:49am Aug 8, 2023 7:49am
I stepped out of my place for an hour or more and so was monitoring the trades with my mobile..could have done better on my laptop, anyway I am pleased with the results of both EU and GU..these 2 trades help me get back to +ve territory after last night-mare trades using bbma on EY and GY. I meant to take 1 lot each on the trades but I made a mistake with EY..I later decrease the risk by cashing out 40% of GY. As this method requires "layering" or add ons I just did not fancy doing that and moreover I need my sleep, a lesson learned and I shall remain faithful with the 10/34 ema method. Here are the trades done
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURJPYxM5.png Size: 33 KB
Click to Enlarge Name: GBPJPYxM5.png Size: 34 KB
Click to Enlarge Name: GBPUSDxM5.png Size: 28 KB
Click to Enlarge Name: EURUSDxM5.png Size: 29 KB
the cautious seldom err....C
  • #10,478
  • Aug 8, 2023 8:02am Aug 8, 2023 8:02am
majors like EU,GU,NU and AU have done the daily range already, wondering what pairs to trade from now
the cautious seldom err....C
  • #10,479
  • Aug 9, 2023 3:45am Aug 9, 2023 3:45am
Hello Pips29. I have another question. Do you consider change in direction on higher timframe when price croses 34 ema or when 10 ema croses 34 ema?
  • #10,480
  • Aug 9, 2023 3:55am Aug 9, 2023 3:55am
Quoting AndryLV1984
Hello Pips29. I have another question. Do you consider change in direction on higher timframe when price croses 34 ema or when 10 ema croses 34 ema?
the latter, Andry
the cautious seldom err....C
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