Swing Trades using Price Action | Page 18 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

EUR/USD, EUR/JPY

Similar Threads

Swing high / Swing low indictator+alert? 20 replies

High probability trade setups for day trades and swing trades 4 replies

What is the difference between Price Swing and Wave Swing? 5 replies

Swing highs and swing lows 3 replies

SWING Trades using the FXTradepro "LUCKY 7" Progression Sequence 4 replies

Attachments: Swing Trades using Price Action
Exit Attachments

Swing Trades using Price Action

  • #341
  • Jan 16, 2024 2:35pm Jan 16, 2024 2:35pm
If anyone is struggling with it, go back to the opening post and study it slowly, thyen back test it on each pair in various time charts.
I'm using 1hr, 4hr & daily.
I have manually back tested NOT using any stuff like Strategy tester and such.
At least 500 hours minimum of work... candle by candle.
At loeast a year of work spread out overt many years.
Every time I got tired of it or frustrated, I simply stopped doing it... one time for 5 years, and I went training Greyhounds to make some money... I trained just over 400 winners in Darwin, Australia in a bit over 5 years.

I could have used back testing software, but you don't train your brain that way, all you do is save time.
In the days of old when sailors were bold, and seldom if ever contented.
  • #342
  • Jan 16, 2024 3:00pm Jan 16, 2024 3:00pm
NOW... to prove this works I am attempting to pass some Prop Firm challenges.
I started a FundedEngineer $100k challenge yesterday.
So far 1 trade, for 1.20% win.

I need 10% to pass phase 1, then 5% to pass phase 2 and get funded.
I'm posting my trades on "X" formerly Twitter and in my private Discord that I'm using as my journal... I copy and post as soon as I can after I enter.
My "X" handle is @savco
My Discord is simply my journal, and for my record only instead of writing a manual journal.

I recommend using Discord as your journal... go to Discord, open your own server (free) and copy your screen shots of trades and add a comment as to what happened, your emotions etc.
Everything is saved in Chronological order.

I'm trading GBPUSD daily, USDJPY 1 hour & EURJPY 1 hour.

Being in Australia my trading sessions are Asian, London and some of New York AM.
In the days of old when sailors were bold, and seldom if ever contented.
  • #343
  • Jan 16, 2024 3:26pm Jan 16, 2024 3:26pm
Hi pt,

Very interesting strategy, keen too test this.

Was wondering how you have your EMAS set up and if you could explain these briefly?

Regards,
The Bands
  • #344
  • Jan 16, 2024 3:26pm Jan 16, 2024 3:26pm
Quoting hundsbua
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 {file}
I don't have time to run/test your EA hundsbua, but others may do so for you hopefully.

If your charts don't match mine it is probably because of your data feed.
My charts are from FXCM, if you use Oanda or Forex.com they can differ slightly... especially 4hr.
My 4hr are outa sync with MT5 due to MT5 being located in Asia somewhere, maybe Russia or Cyprus.

It should not matter on 1hr and daily though... what I miss on the zigs, you win on the zags.
In the days of old when sailors were bold, and seldom if ever contented.
  • #345
  • Jan 16, 2024 3:40pm Jan 16, 2024 3:40pm
Yesterday there were a few trades I noted, and one that I traded.

GBPUSD 4hr... loser
https://www.tradingview.com/x/6ceIdqeA/

GBPUSD 1hr... loser
https://www.tradingview.com/x/P0NJfcyy/

USDJPY 2 trades... 2 wins
https://www.tradingview.com/x/UH6TtzOb/
In the days of old when sailors were bold, and seldom if ever contented.
  • #346
  • Jan 16, 2024 3:49pm Jan 16, 2024 3:49pm
9 winners straight on this pair in 2 weeks.

https://www.tradingview.com/x/LDtemVq6/
In the days of old when sailors were bold, and seldom if ever contented.
  • #347
  • Edited 8:34pm Jan 16, 2024 6:58pm | Edited 8:34pm
This is the post the lazy traders wanted to see... those who will not succeed.

In trading this I am using TP of 1:1 risk to reward.
In other words, if my wick is 35 pips, my stop is 35 pips, and my TP is 35 pips also... so my TP is equal to my risk, 1r.
Obviously, many trades go a lot more than 1r, but the more profit you try to get, the more times you will lose the trade.

LAST 12 Months USDJPY... 1hr charts.

191 trades for 127 wins at 1:1 r:r in the 12 months to 17th Jan 2024.

Taking 1r profit yields 67% win-rate in my back and forward testing on the usdjpy 1hr...
- Longest winning streak 11
- Longest losing streak 4
- Worst period Jan to Mar 2023
- Best period Nov 2023 to the present, mid Jan 2024

Blind Freddy makes money with those odds.

If you are not willing to do the work in back and forward testing ANY strategy, you will NEVER make money trading.

I 1st began working on this strategy 15 years ago, when I was 51 years old (I'm now 76 y/old) ... take a look at the date of the opening post on page 1... success takes time.

Am I successful with trading this?
We will find out in the next month if I can pass some challenges.
In the days of old when sailors were bold, and seldom if ever contented.
  • #348
  • Edited 5:30pm Jan 17, 2024 4:19pm | Edited 5:30pm
Initial results on my $100,000 FundedEngineer Challenge, Phase 1.
2.8% on closed trades
0.9% on an open trade (long eurjpy 2 lots, TP at ).

So approaching 4% Equity in 2 days.
Attached Image (click to enlarge)
Click to Enlarge Name: hist.png Size: 33 KB
In the days of old when sailors were bold, and seldom if ever contented.
  • #349
  • Jan 17, 2024 5:41pm Jan 17, 2024 5:41pm
I have not tested the Aussie a lot, but this looks a good entry with 3 consecutive setups

https://www.tradingview.com/x/mcEDPn0v/
In the days of old when sailors were bold, and seldom if ever contented.
  • #350
  • Jan 17, 2024 9:22pm Jan 17, 2024 9:22pm
Quoting pt49
BTC is not my fav pair but I had to take this... the reentry after the stopout was based on a break and retest into a bullsish FVG. The 1st entry was a bit over 2x, and the open trade has hit 10x but still running. Combined over +3% so far on my FundedEngineer Challenge which was 6% down. {image}
Hello pt49,
May I ask.
For this trade, it's a 1 TF H1 chart trade?
Or are you applying a HTF (eg D1 or W1 to get a HTF bias first)?
  • #351
  • Jan 18, 2024 1:07am Jan 18, 2024 1:07am
Quoting kedridder
{quote} Hello pt49, May I ask. For this trade, it's a 1 TF H1 chart trade? Or are you applying a HTF (eg D1 or W1 to get a HTF bias first)?
I don't bother too much about Bias... if the 8ema is sloping up or down, thats my Bias.
I recommend adding the 16ema for newbies... if the ema's are separating that gives you a bias.
If the 8ema is FLAT when the qualifying candle closes, I won't take the trade... any sort of a slope, I take the trade.

It can be confusing when the ema is flat because it repaints and shows a slope if the next candle moves fast on opening.
You get a slope where there was a flat.
In the days of old when sailors were bold, and seldom if ever contented.
  • #352
  • Jan 18, 2024 6:51am Jan 18, 2024 6:51am
Quoting pt49
{quote} I don't bother too much about Bias... if the 8ema is sloping up or down, thats my Bias. I recommend adding the 16ema for newbies... if the ema's are separating that gives you a bias. If the 8ema is FLAT when the qualifying candle closes, I won't take the trade... any sort of a slope, I take the trade. It can be confusing when the ema is flat because it repaints and shows a slope if the next candle moves fast on opening. You get a slope where there was a flat.
Got it, thank you!
If EMA flat, it means price doesn't know which way. So better stay away
  • #353
  • Jan 18, 2024 7:00am Jan 18, 2024 7:00am
Quoting kedridder
{quote} Got it, thank you! If EMA flat, it means price doesn't know which way. So better stay away
sometimes it happens that EMA8 is flat for a while. 'the price is resting' and after this consolidation there is a continuation with a very good R:R. as the author wrote, without backtesting it is impossible to trade this method effectively
  • #354
  • Jan 18, 2024 7:06am Jan 18, 2024 7:06am
My transactions from yesterday and one from today. 50k challenge, 0.2% on transactions. all profitable. The 3rd and 4th photo shows the "price rest" and the continuation of the trend. I confirm such inputs on the higher TF, it often happens that the pinbar is also created on the higher TF at the same time
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Zrzut ekranu 2024-01-17 083110.png Size: 21 KB
Click to Enlarge Name: Zrzut ekranu 2024-01-17 083154.png Size: 22 KB
Click to Enlarge Name: Zrzut ekranu 2024-01-17 140051.png Size: 21 KB
Click to Enlarge Name: Zrzut ekranu 2024-01-18 064544.png Size: 22 KB
  • #355
  • Jan 18, 2024 11:06am Jan 18, 2024 11:06am
Quoting hundsbua
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 {file}
Hej, my backtesting set up is on mt5. Would you mind sharing your code, so I can transform it to MQL5? Or can you do it yourself?

Thanks
  • #356
  • Jan 19, 2024 5:11am Jan 19, 2024 5:11am
I'm having an EA built for this Strategy, my man is backed up a bit with work, so it may take a week for him to get to it.
I'm no fan of EA's but I want to test this on multiple pairs incl indices and futures on multiple time frames.
That amount of testing involves lot of work, way too much for this old man.
In the days of old when sailors were bold, and seldom if ever contented.
  • #357
  • Jan 19, 2024 5:17am Jan 19, 2024 5:17am
In the first 18 days of this year the usdjpy, 1 hour TF,has had 15 trades for 12 wins at 1R risk.

1R means if I risk $100 with my stoploss, I make $100 with my TakeProfit.
In the days of old when sailors were bold, and seldom if ever contented.
  • #358
  • Jan 19, 2024 6:17am Jan 19, 2024 6:17am
Quoting pt49
Good luck with your new thread Husla. I guess it's time to keep this old-time thread alive... Backtesting a few pairs... I am in this current trade (live) on EUR/AUD on hourly chart. {image}
How does FVG play out in your strategy? If you don't mind
  • #359
  • Jan 19, 2024 6:49am Jan 19, 2024 6:49am
Quoting kedridder
{quote} How does FVG play out in your strategy? If you don't mind
I don't apply them to this... well, I hadn't even thought of it.
You could use fvg's and OB's in setting TP's if you trading larger r:r's.
That's worth looking into, thanks for that idea.
In the days of old when sailors were bold, and seldom if ever contented.
  • #360
  • Jan 19, 2024 7:12am Jan 19, 2024 7:12am
Quoting pt49
{quote} I don't apply them to this... well, I hadn't even thought of it. You could use fvg's and OB's in setting TP's if you trading larger r:r's. That's worth looking into, thanks for that idea.
Don't mention it.
I happen to see your chart, has FVG printed out by ur indi.
0 traders viewing now