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Swing Trades using Price Action

  • #321
  • Dec 4, 2023 5:00pm Dec 4, 2023 5:00pm
Quoting brabus8001
{quote} The main trend has no meaning. you need to do historical analysis. Without this data you are lost.
Backtesting is where you must spend most of your time while developing your trading plan, and this will take months.

If you insist on being in live trades while developing your plan, then trade only 4 hour and daily... this gives you plenty of time to do it.
If you are trading hourly or shorter time frames you will not backtest because you will be all the time watching your trades.
In the days of old when sailors were bold, and seldom if ever contented.
  • #322
  • Dec 4, 2023 7:39pm Dec 4, 2023 7:39pm
Quoting pt49
{quote} Your charts would be easier to read without the watermark on them... just my opinion.
Thanks for sharing your thoughts! I appreciate your feedback about the watermark on the charts. I'll consider your suggestion and explore ways to ensure the charts remain clear and easily readable without compromising their integrity. Your input is valuable, and I'll work on enhancing the readability of future charts.
We only trade when there is AGREEMENT. Get 1% Better Each Day!
  • #323
  • Dec 5, 2023 11:29am Dec 5, 2023 11:29am
Quoting pt49
{quote} Backtesting is where you must spend most of your time while developing your trading plan, and this will take months. If you insist on being in live trades while developing your plan, then trade only 4 hour and daily... this gives you plenty of time to do it. If you are trading hourly or shorter time frames you will not backtest because you will be all the time watching your trades.
Does anyone know of any good and ideally free backtesting sites/apps for traders where the backtesting doesn't require programming? I'd like to backtest strategies on different markets such as buy if RSI is over 30 or say 20 EMA crosses 50 EMA or fibonacci retracements etc. I have looked at Metatrader and TradingView but both seem to require coding. Forextester seems to be a possibility, but it's quite pricey. I don't need it to be glamourous just need it to show trades and profits.
  • #324
  • Dec 5, 2023 1:59pm Dec 5, 2023 1:59pm
Quoting modesttrader
{quote} Does anyone know of any good and ideally free backtesting sites/apps for traders where the backtesting doesn't require programming? I'd like to backtest strategies on different markets such as buy if RSI is over 30 or say 20 EMA crosses 50 EMA or fibonacci retracements etc. I have looked at Metatrader and TradingView but both seem to require coding. Forextester seems to be a possibility, but it's quite pricey. I don't need it to be glamourous just need it to show trades and profits.
There's FXReplay at about $25 a month, but I just use TradingView replay and do it manually.
In the days of old when sailors were bold, and seldom if ever contented.
  • #325
  • Dec 5, 2023 2:05pm Dec 5, 2023 2:05pm
Quoting modesttrader
{quote} Czy ktoś zna jakieś dobre i idealnie darmowe strony/aplikacje do testowania historycznego dla traderów, w których testowanie historyczne nie wymaga programowania? Chciałbym przetestować strategie historyczne na różnych rynkach, takie jak kupuj, jeśli RSI przekracza 30 lub powiedzmy, że 20 EMA przecina 50 EMA lub zniesienia Fibonacciego itp. Przyjrzałem się Metatraderowi i TradingView, ale wydaje się, że oba wymagają kodowania. Forextester wydaje się być możliwy, ale...
Here you have it for free on MT4 and MT5 https://www.fxblue.com/
  • #326
  • Dec 12, 2023 4:09am Dec 12, 2023 4:09am
Hi. I tested many currency pairs, I chose 8 pairs with an efficiency of 60-68% in H1. and what? 10 SLs one by one. In one day. challenge to the funded account lost. previous week 50% SL. I do not know what's going on....
  • #327
  • Dec 15, 2023 2:11am Dec 15, 2023 2:11am
Quoting brabus8001
Hi. I tested many currency pairs, I chose 8 pairs with an efficiency of 60-68% in H1. and what? 10 SLs one by one. In one day. challenge to the funded account lost. previous week 50% SL. I do not know what's going on....
When you take multiple pairs you MUST be aware that ALL of them can be impacted by the same fundamental news.
Say you trade 5 USD pairs (usdjpy, audusd, bgpusd, eurjpy, eurusd) and an adverse news event comes out impacting the USD...

In my back and forward testing its likely that you could get 3 or 4 entries in the hour or so before, leaving you over-exposed to the USD.... bad news event occurs and BOOM, 3 or 4 trades die instantly.
The opposite can occur also giving you 3 or 4 trades running in wild profits.

If trading multiple pairs try and make sure they are uncorrelated... that can protect you from these swings.
In the days of old when sailors were bold, and seldom if ever contented.
  • #328
  • Dec 16, 2023 7:41am Dec 16, 2023 7:41am
Quoting pt49
{quote} When you take multiple pairs you MUST be aware that ALL of them can be impacted by the same fundamental news. Say you trade 5 USD pairs (usdjpy, audusd, bgpusd, eurjpy, eurusd) and an adverse news event comes out impacting the USD... In my back and forward testing its likely that you could get 3 or 4 entries in the hour or so before, leaving you over-exposed to the USD.... bad news event occurs and BOOM, 3 or 4 trades die instantly. The opposite can occur also giving you 3 or 4 trades running in wild profits. If trading multiple pairs try...
what EMA are you using? maybe I have it set differently?
Attached Image (click to enlarge)
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  • #329
  • Dec 18, 2023 3:54am Dec 18, 2023 3:54am
Quoting brabus8001
{quote} what EMA are you using? maybe I have it set differently? {image}
EMA8
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In the days of old when sailors were bold, and seldom if ever contented.
  • #330
  • Dec 18, 2023 4:11am Dec 18, 2023 4:11am
Quoting pt49
{quote} EMA8 {image}
that changes a lot, thanks buddy
  • #331
  • Dec 18, 2023 5:56pm Dec 18, 2023 5:56pm
Quoting brabus8001
{quote} that changes a lot, thanks buddy
One thing that can make your charts different to mine is your Data Feed... I use FXCM charts where I can.
Oanda, Forex.com and others may draw slightly different candles to FXCM, but should balance out over time regardless the data feed your charts use.
Sometimes you win, sometimes I lose.
In the days of old when sailors were bold, and seldom if ever contented.
  • #332
  • Dec 22, 2023 11:16pm Dec 22, 2023 11:16pm
I don't understand one thing, I spent dozens of hours on historical analysis. I understood that the most important thing in this strategy is analysis. I have all the necessary data divided into months, the number of SLs, the number of SLs occurring one after the other, etc. I follow the entry criteria, everything looks good in the analysis, I enter the market and everything breaks down. what am I doing wrong?
  • #333
  • Dec 23, 2023 6:21pm Dec 23, 2023 6:21pm
Quoting deaftrader
{quote} Thanks for sharing your thoughts! I appreciate your feedback about the watermark on the charts. I'll consider your suggestion and explore ways to ensure the charts remain clear and easily readable without compromising their integrity. Your input is valuable, and I'll work on enhancing the readability of future charts.
That's easy on TV, right click on chart to access the Settings.

It shows the changes on the chart as you make them, really helps if you find the Watermark distracting or use various background colors.

Cheers.

Attached Image (click to enlarge)
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It takes a lot for me to IGNORE you, but you can try.
  • #334
  • Dec 23, 2023 7:48pm Dec 23, 2023 7:48pm
Quoting brabus8001
I don't understand one thing, I spent dozens of hours on historical analysis. I understood that the most important thing in this strategy is analysis. I have all the necessary data divided into months, the number of SLs, the number of SLs occurring one after the other, etc. I follow the entry criteria, everything looks good in the analysis, I enter the market and everything breaks down. what am I doing wrong?
Are you talking about Daily candles?

If so, please share some setups and we can help analyze, otherwise very hard to answer your question.
It takes a lot for me to IGNORE you, but you can try.
  • #335
  • Dec 24, 2023 7:19am Dec 24, 2023 7:19am
Quoting Erebus
{quote} Are you talking about Daily candles? If so, please share some setups and we can help analyze, otherwise very hard to answer your question.
I trade on H1 candles, do you also trade this strategy?
  • #336
  • Dec 26, 2023 1:50am Dec 26, 2023 1:50am
Quoting deaftrader
{quote} Thanks for sharing your thoughts! I appreciate your feedback about the watermark on the charts. I'll consider your suggestion and explore ways to ensure the charts remain clear and easily readable without compromising their integrity. Your input is valuable, and I'll work on enhancing the readability of future charts.
There are a lot of indicators in TradingView to display various watermarks... the most popular appears to be AG FX - Watermark
In the days of old when sailors were bold, and seldom if ever contented.
  • #337
  • Jan 11, 2024 3:41am Jan 11, 2024 3:41am
Dear All
I tried to code the strategy. I do not get positive results in long run. I do not find any errors in the EA. Feel free to test the EA. I would be glad if we can discuss the results of it.

Best hundsbua
Attached File(s)
File Type: ex4 WickOnEma v2.0.ex4   25 KB | 406 downloads
  • #338
  • Jan 11, 2024 12:28pm Jan 11, 2024 12:28pm
Quoting hundsbua
I tried to code the strategy. [...] I would be glad if we can discuss the results of it.
What TP did you implement? Did you implement RR 1:1? OP wrote: "Money Management and profits can be improved using alternate exit criteria like pivots, Fibonacci, Parabolic SAR etc. Another exit strategy could be to TakeProfit if Price breaks back through the 16 EMA, or closes back inside the 8 EMA.". Perhaps try these?
  • #339
  • Jan 11, 2024 7:43pm Jan 11, 2024 7:43pm
It looks very nice method keep going!
  • #340
  • Jan 12, 2024 6:10am Jan 12, 2024 6:10am
Quoting yoriz
{quote} What TP did you implement? Did you implement RR 1:1? OP wrote: "Money Management and profits can be improved using alternate exit criteria like pivots, Fibonacci, Parabolic SAR etc. Another exit strategy could be to TakeProfit if Price breaks back through the 16 EMA, or closes back inside the 8 EMA.". Perhaps try these?
I just added RR in this first version. Good idea , I try to add this options you mentioned
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