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Trading Made Simple(r)

  • #8,641
  • Sep 3, 2023 7:35pm Sep 3, 2023 7:35pm
Hi all

Can anyone provide any feedback on this trade I taken?

I entered this as a continuation trade and entered on the first candle of the market open for this week.

I already have some doubts, maybe I shouldn't enter on market open? Previous candle too big? Too late to enter for a continuation?

I appreciate any feedback, thank you!
Attached Image (click to enlarge)
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  • #8,642
  • Sep 4, 2023 12:34am Sep 4, 2023 12:34am
Quoting krislb
Hi all Can anyone provide any feedback on this trade I taken?{image}
IMO going short is the right trade but I think you got in too early. Also there is a public holiday in the US so things might be quite until Tuesday.
For what it's worth I have a sell limit order at the 61.8 fib of Friday's candle on GBPUSD.
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  • #8,643
  • Sep 4, 2023 3:52am Sep 4, 2023 3:52am
Quoting krislb
{quote} Which pairs did you use?
All major/minor pairs.
  • #8,644
  • Sep 4, 2023 7:28am Sep 4, 2023 7:28am
Quoting Tranqility
{quote} IMO going short is the right trade but I think you got in too early. Also there is a public holiday in the US so things might be quite until Tuesday. For what it's worth I have a sell limit order at the 61.8 fib of Friday's candle on GBPUSD. {image}
Ah thank you! I had no idea about the holiday in US
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  • #8,645
  • Sep 4, 2023 1:14pm Sep 4, 2023 1:14pm
Took this Sell Trade on EUR/GBP today. Continuation Trade.

I have moved my stop loss forward.

However I'm unsure about my proft target. How do you guys manage your trade in terms of taking profit?
Attached Image (click to enlarge)
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  • #8,646
  • Sep 5, 2023 12:59am Sep 5, 2023 12:59am
Quoting Berje
Took this Sell Trade on EUR/GBP today. Continuation Trade. I have moved my stop loss forward. However I'm unsure about my proft target. How do you guys manage your trade in terms of taking profit? {image}
As no one has sent a reply and its the end of my day, here is 2 cents worth of useless help.

Do you have a trading plan,
Are you sure its a continuation trade---what did you base that statement on, your experience or just a guess?
As you have an Indicator on your chart it suggests selling from an overbought condition is desirable.(refer to previous price action at O/b O/s levels--Strictly for references only not as point of entry/exits)
Holding onto a short trade when that indicator is into oversold territory requires close monitoring, especially when you only have a small number of pips to play with.
You can place a stop loss at the previous bars high and hope for the best.
You can undertake some training to help you make your own decisions, relying on other folk for guidance may cause you unbearable pain.

Good luck with this trade---you may need it.
  • #8,647
  • Sep 5, 2023 4:05am Sep 5, 2023 4:05am
Quoting Berje
Took this Sell Trade on EUR/GBP today. Continuation Trade. I have moved my stop loss forward. However I'm unsure about my proft target. How do you guys manage your trade in terms of taking profit? {image}
Yesterday I look into this setup too. I set SL at High of trigger bar and TP target at RR 1:1 which it hits perfectly. I refine my exit method by backtesting and this suit me the best, I suggest you to try backtesting and find what method you are comfortable with. There are various method to exit (read 1st post) you just need to follow one you want and for me, I just set my rules and close mt4 then wait till anything just triggered.
  • #8,648
  • Sep 5, 2023 7:24am Sep 5, 2023 7:24am
Quoting RobinHood
{quote} Bill, While your strategy may have worked this time, the odds are way against you being right a majority of the time. Which one do you think makes more sense, if you had the choice, and the reward was exactly the same? 1. To float down a river with the current? OR 2. To swim up a river against the current? Obviously, it's #1 and the same applies to trading. Plus, a retracement is never overdue. There is a saying that says: "The market can stay irrational longer than you can stay solvent.”
Nicely written!
  • #8,649
  • Sep 6, 2023 3:43am Sep 6, 2023 3:43am
Quoting jazpac
Hay guys. I like this thread a lot and I am using this strategy. It realy is simple trading. Many thanks to Robin Hood. Beside indicators that he describe in post 1 I add 136 Ema. It is just showing trend on higher tf. I am trading on 4h. so longer ema is actually 21 ema on D and 5 ema on W. This ema's moving fast enough to change direction when trend change on higher tf and so I always trade with trend. It's simple when price is above ema trade only long signal's according to RH. When price is below ema take only short trades. Yes, I miss some...
Can someone please point me to the post where I can download the arrows?
  • #8,650
  • Sep 6, 2023 5:01am Sep 6, 2023 5:01am
Quoting Raja.Banks
{quote} Can someone please point me to the post where I can download the arrows?
I thought you only used price action and SRC, Raja
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  • #8,651
  • Sep 29, 2023 10:23am Sep 29, 2023 10:23am
Just out of pure curiosity,

Is anyone trading this strategy live? It's very promising. I've been following this thread for a while now.
  • #8,652
  • Oct 2, 2023 4:13am Oct 2, 2023 4:13am
Quoting ForexFreak92
Just out of pure curiosity, Is anyone trading this strategy live? It's very promising. I've been following this thread for a while now.
I'm trading this strategy live
  • #8,653
  • Oct 21, 2023 8:22pm Oct 21, 2023 8:22pm
Quoting krislb
Hi all Can anyone provide any feedback on this trade I taken? I entered this as a continuation trade and entered on the first candle of the market open for this week. I already have some doubts, maybe I shouldn't enter on market open? Previous candle too big? Too late to enter for a continuation? I appreciate any feedback, thank you! {image}
sir, can u share tradingview indikator for this??where can i get? Its free
  • #8,654
  • Oct 23, 2023 9:32am Oct 23, 2023 9:32am
Quoting jameboy9864
{quote} I'm trading this strategy live
Can you please share more details?
What pais/tf do you trade in most?

I have been trading this for 3 months with mixed results and now I am negative.
I make some good trades and then the bad onces take all profit.
It is either hitting SL too early then goes in my direction or truns back just before TP. It was all okay during sep.18-3.dec and then it turned bad.

May I ask you share more info on your way to use this strategy? If it is profitable for you then it must be my fault so I have to learn it more.
  • #8,655
  • Nov 5, 2023 2:49pm Nov 5, 2023 2:49pm
Hello. I have a big request. I am interested in the S/R indicator which is in the picture above by the member "Berje"- red and green lines. Can someone please share it or give me a link to download it? Thank you in advance for your kindness.
  • #8,656
  • Nov 5, 2023 5:09pm Nov 5, 2023 5:09pm
Quoting DuNa189
Hello. I have a big request. I am interested in the S/R indicator which is in the picture above by the member "Berje"- red and green lines. Can someone please share it or give me a link to download it? Thank you in advance for your kindness.

@DuNa189

which S/R ?

all the indicators are in the zip file in Post#1

USDCAD Nov 06 Daily


Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD Nov06 TMS(r) Daily 6-11-2023 9-05-57 am.png Size: 44 KB




...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #8,657
  • Nov 5, 2023 8:09pm Nov 5, 2023 8:09pm
CADJPY looking good for a continuation buy trade on the 4hr
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  • #8,658
  • Nov 5, 2023 9:59pm Nov 5, 2023 9:59pm
Quoting emmanuel7788
{quote} @DuNa189 which S/R ? all the indicators are in the zip file in Post#1 USDCAD Nov 06 Daily {image} ...
Dear Sir,
Thank you for your prompt reply. I know there is no S/R indicator in the zip file. I just don't know how the horizontal lines (green and red) that indicate the S/R levels were created. For example, you can see it in the picture of member "krislb". Are these levels hand drawn or is it an indicator? Sorry for the stupid question, I'm a beginner. I like the RobinHood system very much, it looks promising, so I started to study it and try...
  • #8,659
  • Nov 6, 2023 1:45am Nov 6, 2023 1:45am
Quoting DuNa189
{quote} Dear Sir, Thank you for your prompt reply. I know there is no S/R indicator in the zip file. I just don't know how the horizontal lines (green and red) that indicate the S/R levels were created. For example, you can see it in the picture of member "krislb". Are these levels hand drawn or is it an indicator? Sorry for the stupid question, I'm a beginner. I like the RobinHood system very much, it looks promising, so I started to study it and try...
Those are the lines created when he put his buy order in, the red is the stop loss and green the entry point.
  • #8,660
  • Nov 6, 2023 1:58am Nov 6, 2023 1:58am
Quoting lynnc
{quote}Those are the lines created when he put his buy order in, the red is the stop loss and green the entry point.
Thank you for the explanation. How simple... I use MT4 only for market analysis, not for trading. For trading (DEMO for now) I use XTB's xStation 5 platform...
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