No Indicator Trading System | Page 36 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

AUD/JPY, EUR/JPY, AUD/USD

Similar Threads

Please suggest a simple & effective Method/System of "Trading System" Forum to newbie 182 replies

HYBRID: trading system within a trading system 31 replies

WatchMyZone trading system - WMZ system 7 replies

Day Trading system - Simple system to make money 51 replies

Trapping System: Way to Fully-Automated Trading System 47 replies

Attachments: No Indicator Trading System
Exit Attachments

No Indicator Trading System

  • #701
  • Feb 5, 2024 8:05pm Feb 5, 2024 8:05pm
Quoting Islandfx911
{quote} Hi Lt, Wicks are used with this system. Line chart for clarity of identifying swings and support and resistance, then a buy sell zone created by using wicks back to body. {image}

I do understand your technique. I understand it works, but it works perfectly on currencies. This i really agree. This technique works on less volatile pairs. So currencies are best to use this. I too apply a set of no indicator trading but it comes with different rules. Its a bit realistic rule, not a get rich method. But a slower growth but consistent growth. Though there is a high price to pay to use this method, but not in monetary value. But life values.
Trading is very lonely
  • #702
  • Feb 5, 2024 10:35pm Feb 5, 2024 10:35pm
Quoting Islandfx911
{quote} Hi Lt, Wicks are used with this system. Line chart for clarity of identifying swings and support and resistance, then a buy sell zone created by using wicks back to body. {image}
Hi Islandfx,

I have been keeping track of your method as there is similarity in price action analysis (highs and lows) with my trading approach. I also used limit orders to catch price retesting and rejecting from levels (Inthebox’s QM method, an old thread)

You mentioned you need to wait for confirmation sometimes (wicks etc), do you also use stop orders and/or market price entries?

The reason of asking is seeing you posted about your health, daily activities, and trade routines. And just a thought that since your entry rules are defined, maybe you can use alerts to help you. Your S/R levels, original SL/ wick levels, or wick itself (if you have clear defined rules around that), are plausible to be used as alerts. You can keep watching the market to see those happening, or an alert to let you know when it is happening. This is my current status to reduce chart time.

take care and stay strong.


Attached Image (click to enlarge)
Click to Enlarge Name: 832E208B-9F11-420D-8BFA-BB0CCB0E1A13.jpeg Size: 247 KB
  • #703
  • Feb 6, 2024 12:01am Feb 6, 2024 12:01am
Quoting tommydoginti
{quote} Hi Islandfx, I have been keeping track of your method as there is similarity in price action analysis (highs and lows) with my trading approach. I also used limit orders to catch price retesting and rejecting from levels (Inthebox’s QM method, an old thread) You mentioned you need to wait for confirmation sometimes (wicks etc), do you also use stop orders and/or market price entries? The reason of asking is seeing you posted about your health, daily activities, and trade routines. And just a thought that since your entry rules are defined,...
Hi T,
Thanks for the advice.
I use limit orders if the wick creates a SL > 10 Pts as 10 Pts is my max SL size.
All other orders I enter at market.
I am planning on just trading the Asian session from now on so I only spend 1.5hrs trading a day.
I may look into alerts as it could work for me.
Thanks again for your consideration

Regards
Rob
Your trade order needs to be in the right place at the right time.
  • #704
  • Feb 6, 2024 12:49am Feb 6, 2024 12:49am
Hi Rob, finally yesterday's trade for UJ paid 7.5R. But my stop on BE jumped because of the overnight spread increase.
At least I know I didn't fail in the plan because I had planned to hold until the TP. Today is a new day.
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYxM15.png Size: 6 KB
  • #705
  • Feb 6, 2024 12:57am Feb 6, 2024 12:57am
AU Feb06 H4 after the RBA rate statement

Attached Image (click to enlarge)
Click to Enlarge Name: FF Cal Feb06 London 6-2-2024 8-05-42 am.png Size: 14 KB



Attached Image (click to enlarge)
Click to Enlarge Name: Au Feb06 H4 pullback 6-2-2024 2-45-07 pm.png Size: 24 KB




...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #706
  • Feb 6, 2024 12:59am Feb 6, 2024 12:59am
Quoting Nortal
Hi Rob, finally yesterday's trade for UJ paid 7.5R. But my stop on BE jumped because of the overnight spread increase. At least I know I didn't fail in the plan because I had planned to hold until the TP. Today is a new day. {image}
Hi N,
You now know two things.
7.5R trades are a reality
Stops will get hunted

I would just place set and forget trades. Leave SL at -1R and walk away.
Congratulations for believing
Your trade order needs to be in the right place at the right time.
  • #707
  • Feb 6, 2024 1:00am Feb 6, 2024 1:00am
Quoting emmanuel7788
AU Feb06 H4 after the RBA rate statement {image} {image} ...
Never ceases to amaze me how calculated this all is.
Your trade order needs to be in the right place at the right time.
  • #708
  • Feb 6, 2024 1:51am Feb 6, 2024 1:51am
Quoting Islandfx911
{quote} Hi T, Thanks for the advice. I use limit orders if the wick creates a SL > 10 Pts as 10 Pts is my max SL size. All other orders I enter at market. I am planning on just trading the Asian session from now on so I only spend 1.5hrs trading a day. I may look into alerts as it could work for me. Thanks again for your consideration Regards Rob

Use tradingview. Free account lets you use 5 alerts for free. So you can alert if hit your buy/sell limit or stop loss or tp. Saves u time from watching the phone or pc all the time. All alerts notify on your phone
Trading is very lonely
  • #709
  • Feb 6, 2024 1:54am Feb 6, 2024 1:54am
Quoting luckytujuh
{quote} Use tradingview. Free account lets you use 5 alerts for free. So you can alert if hit your buy/sell limit or stop loss or tp. Saves u time from watching the phone or pc all the time. All alerts notify on your phone
Hi Lt,
Thanks for the info. Much appreciated
Your trade order needs to be in the right place at the right time.
  • #710
  • Feb 6, 2024 2:19am Feb 6, 2024 2:19am
Hi Traders,
EJ Long at Euro open. Trade now at breakeven.

Attached Image (click to enlarge)
Click to Enlarge Name: EJ 06 02 24 Long ES.png Size: 24 KB
Your trade order needs to be in the right place at the right time.
  • #711
  • Feb 6, 2024 2:43am Feb 6, 2024 2:43am
Hi T,
Here's one for you.
Attached Image (click to enlarge)
Click to Enlarge Name: DAX Turnip.png Size: 23 KB
Your trade order needs to be in the right place at the right time.
  • #712
  • Feb 6, 2024 2:55am Feb 6, 2024 2:55am
Quoting Islandfx911
{quote} Never ceases to amaze me how calculated this all is.

AU Feb06 H4 pullback candle trade

Attached Image (click to enlarge)
Click to Enlarge Name: Au Feb06 H4 pullback 6-2-2024 2-45-07 pm.png Size: 24 KB



M5 entry

Attached Image (click to enlarge)
Click to Enlarge Name: 6-2-2024 4-04-38 pm.png Size: 26 KB



...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #713
  • Feb 6, 2024 2:57am Feb 6, 2024 2:57am
Quoting emmanuel7788
{quote} AU Feb06 H4 pullback candle trade {image} M5 entry {image} ...
Attached Image (click to enlarge)
Click to Enlarge Name: AU 06 02 24.png Size: 13 KB
Your trade order needs to be in the right place at the right time.
  • #714
  • Feb 6, 2024 3:00am Feb 6, 2024 3:00am
EURJPY

Missed sell. And placed limit order.
I will like to ask if it has taken too long for retest of 3 and therefore invalidated the setup?

Please kindly note that I use a 10 pips fixed SL and aim for 4RR

Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYM30.png Size: 10 KB

Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYM30...png Size: 9 KB
  • #715
  • Feb 6, 2024 3:10am Feb 6, 2024 3:10am
Quoting Islandfx911
{quote} {image}
What do you guys think about this option
Long in this support??
Attached Image(s) (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 31 KB
Click to Enlarge Name: screenshot.png Size: 30 KB
Enter Signature
  • #716
  • Feb 6, 2024 3:11am Feb 6, 2024 3:11am
Quoting Jewel1996
EURJPY Missed sell. And placed limit order. I will like to ask if it has taken too long for retest of 3 and therefore invalidated the setup? Please kindly note that I use a 10 pips fixed SL and aim for 4RR {image} {image}
Hi J,
I was long EJ at market open, I am out now. There were better choices.
If it was me, I would cancel the order and watch this one to learn from it. This is what I would do I am not suggesting you do that.
You are in control of your trades..
Your trade order needs to be in the right place at the right time.
  • #717
  • Feb 6, 2024 3:16am Feb 6, 2024 3:16am
Quoting Islandfx911
{quote} {image}
We are starting to speak the same language haha. I saw this one but I missed it.
I m short in GJ
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYxH1.png Size: 10 KB
  • #718
  • Feb 6, 2024 3:18am Feb 6, 2024 3:18am
Quoting Katfx
{quote} What do you guys think about this option Long in this support?? {image} {image}
Hi K,

Euro Session opened selling off AU. Have a look at Em's chart above it will give you some clues.
Your trade order needs to be in the right place at the right time.
  • #719
  • Feb 6, 2024 3:30am Feb 6, 2024 3:30am
Hi Traders,
To the new traders learning this system. Although this is my system I do not have all the answers to your questions.
There are some traders here that are utilizing some or part of my trading system with there own.
Some trading it 100% to the system rules.
You will need to find what suits you and build on that.
It will take time to see what I see, there is no rush.
Do your homework, plan the trade.
Your trade order needs to be in the right place at the right time.
  • #720
  • Feb 6, 2024 4:14am Feb 6, 2024 4:14am
Quoting luckytujuh
{quote} Use tradingview. Free account lets you use 5 alerts for free. So you can alert if hit your buy/sell limit or stop loss or tp. Saves u time from watching the phone or pc all the time. All alerts notify on your phone
I like TradingView because it is so mobile friendly in chart analysis and alert setting.
3 traders viewing now