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Trading Made Simple(r)

  • #8,921
  • Edited 6:31am Jun 24, 2024 6:19am | Edited 6:31am
Quoting axecap
what are the smoothing settings on TC2000?
TC2000 does not have a SMMA (see the chart below), I recreated it by using the EMA with the settings of 22 and 26.

It only says SMMA on my chart because I typed it there as to be a reminder to me as to what it is.

I use 4 different trading platforms and it's easy for things to get confusing when switching back and forth between them.

Attached Image (click to enlarge)
Click to Enlarge Name: Types of MA's.png Size: 115 KB

Notice in the lower right corner where I typed "RHO2 SMMA" in as a name. You can label an indicator anything you want to in TC2000.
Attached Image (click to enlarge)
Click to Enlarge Name: SMMA.png Size: 162 KB
Always a Student, Never a Master - Emulate What Works
  • #8,922
  • Jun 24, 2024 12:55pm Jun 24, 2024 12:55pm
Quoting RobinHood
{quote} TC2000 does not have a SMMA (see the chart below), I recreated it by using the EMA with the settings of 22 and 26. It only says SMMA on my chart because I typed it there as to be a reminder to me as to what it is. I use 4 different trading platforms and it's easy for things to get confusing when switching back and forth between them. {image} Notice in the lower right corner where I typed "RHO2 SMMA" in as a name. You can label an indicator anything you want to in TC2000. {image}
MACD(15,35) also looks fine
  • #8,923
  • Jun 24, 2024 4:10pm Jun 24, 2024 4:10pm
Quoting RobinHood
Nearly a month ago I posted the "Triple Threat" (Post #8786). Every trading day since then I have used it (in various ways), both on stocks and/or the Forex. What I have realized is that it is GREAT at showing you Continuation Trades (at virtually the "perfect" entry point) that have a high probability of being successful/profitable (depending on where/how you decide to exit). Look at the chart below. When the lowest window has blue bars, you only make Long trades. When they are red, you only make Short trades. When the bars in the lowest window...
Hi Robinhood, Hope you are well. I have tried the triple threat method using the m1,m5,m15 and m30 as the longer term trend. I have had some success and the losing ones where because i didnt follow the rules. I was wondering if you had any suggestions on possible exits?
thanks

edit: currently using either the m30 last swing or h1 but have had issues with this
  • #8,924
  • Jun 24, 2024 4:42pm Jun 24, 2024 4:42pm
Quoting Mavdm
{quote} Hi Robinhood, Hope you are well. I have tried the triple threat method using the m1,m5,m15 and m30 as the longer term trend. I have had some success and the losing ones where because i didnt follow the rules. I was wondering if you had any suggestions on possible exits? thanks edit: currently using either the m30 last swing or h1 but have had issues with this
One of my favourites is to use the Hull MA. Settings are shown.
Attached Image (click to enlarge)
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Another option which works better above M30 is to use a channel made of 20sma high and 20sma low. If price closes through the channel, exit. Its not so good below M30 or even H1 but maybe a different sma period would be ok.
Attached Image (click to enlarge)
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  • #8,925
  • Edited Jun 25, 2024 8:24am Jun 24, 2024 5:16pm | Edited Jun 25, 2024 8:24am
Quoting Mavdm
{quote} Hi Robinhood, Hope you are well. I have tried the triple threat method using the m1,m5,m15 and m30 as the longer term trend. I have had some success and the losing ones where because i didnt follow the rules. I was wondering if you had any suggestions on possible exits? thanks edit: currently using either the m30 last swing or h1 but have had issues with this
This is no one best way that I know of to exit a trade so I'll just give you some of the numerous ways I use to get out.

1. When the 12-3 %D Stochastics is above or below the 80 or the 20 and it turns back in between the the 2.

2. When I see 1 or more RHO/TMMS histograms that I trust start to change colors or slope or turn in the opposite direction of my trade.

3. When 2 or more of my moving averages cross in the opposite direction of my trade.

4. When news is coming that could impact the market, or someone like the Fed chairman is going to speak. Before known market moving reports, events. etc.

5. Time of day, like getting out before the market closes if it's a day trade.

6. When my Stop, Profit Target or trailing stop gets hit.

7. The market stops "moving" as much, or starts to consolidate.

8. When I see a typical reversal pattern.

9. Candles that imply a reversal may be coming, like an outside bar after a strong move.

10. The most recent high or low of the day.

11. Well defined S&R zones from most recently.

12. Trendline breaks.

13. A food break, a bathroom break, someone at the front/office door to see you, a telephone call, an appointment or meeting, etc., etc., etc.

14. The HMA changes colors.

15. If I start not feeling good or I get too tired or sleepy

16. Not entering a trade (Forex) for at least 1 hour after it closes due to the wider spreads.

17. Not entering a stock trade during the first 20-30 mins. after the market opens.

18. How the market reacts at or around the VWAP.

19. How the market acts or reacts at or around certain particular moving averages, such as the 20, 50 and 200 EMA's.

20. How long should I go on? LOL!

Seriously, I use or have used every reason that I just listed and a lot more. You have to use what you find works best for you, and ways that you believe in.

Entries are easy, it's the exits that are hard because you have so many possibilities to choose from.

What I have found that works best for me is that it's better for me to leave some meat on the bone (profits), or to get out without losing my shirt (large losses).

I always know that there's a new trade coming just around the corner.
Always a Student, Never a Master - Emulate What Works
  • #8,926
  • Jun 25, 2024 12:18pm Jun 25, 2024 12:18pm
Quoting RobinHood
Nearly a month ago I posted the "Triple Threat" (Post #8786). Every trading day since then I have used it (in various ways), both on stocks and/or the Forex. What I have realized is that it is GREAT at showing you Continuation Trades (at virtually the "perfect" entry point) that have a high probability of being successful/profitable (depending on where/how you decide to exit). Look at the chart below. When the lowest window has blue bars, you only make Long trades. When they are red, you only make Short trades. When the bars in the lowest window...
Objective and measurable. Everyone sees the same thing.
  • #8,927
  • Jun 26, 2024 3:27pm Jun 26, 2024 3:27pm
Look at the 2 charts below from earlier today. The top chart is the 1 min. U/J pair and the bottom chart is a 1 min. chart of a AI stock that I day trade occasionally called Snowflake.

How much easier can trading successfully get than this?
Attached Image (click to enlarge)
Click to Enlarge Name: UJ 1 Min.png Size: 86 KB

Attached Image (click to enlarge)
Click to Enlarge Name: SNOW 1 Min.png Size: 177 KB
Always a Student, Never a Master - Emulate What Works
  • #8,928
  • Edited 7:12pm Jun 26, 2024 4:33pm | Edited 7:12pm
Quoting RobinHood
Look at the 2 charts below from earlier today. The top chart is the 1 min. U/J pair and the bottom chart is a 1 min. chart of a AI stock that I day trade occasionally called Snowflake. How much easier can trading successfully get than this? {image} {image}
True. Price leads the indicators so trend helps a lot
Getting the right trending FX pairs and stock moves does help greatly
  • #8,929
  • Jun 26, 2024 7:20pm Jun 26, 2024 7:20pm
RobinHood, do you find the synergy of the RHO and TMMS indicators on the chosen trade timeframe removes the need to verify on a higher timeframe?
  • #8,930
  • Edited 11:32am Jun 27, 2024 8:30am | Edited 11:32am
Quoting DwnUndrTrdr
RobinHood, do you find the synergy of the RHO and TMMS indicators on the chosen trade timeframe removes the need to verify on a higher timeframe?
I actually look at almost every timeframe (starting from the highest down to the lowest) before I start trading each day just to get a feel of an overall direction (if there is one).

I swing trade stocks and I always keep the Weekly chart beside the Daily chart.

When day trading, I have in the past often kept the 1 min. and 5 min. side by side but since creating the Triple Threat, and needing the space the 5 min. takes up, I have not been doing that. What I am doing for now is placing three 1 min. charts side-by-side of 3 different stocks to give me more opportunities to see Continuation trades.
Always a Student, Never a Master - Emulate What Works
  • #8,931
  • Jun 27, 2024 9:29am Jun 27, 2024 9:29am
RobinHood, firstly, thank you for all the support and advice. I am still fairly new at all this and this entire thread has been a wealth of information.

If you don't mind (and apologies if I missed it in all the prior threads), but you mentioned you look at various timeframes - mostly entries on 1min, and 30min. for larger trend (if I remember from a previous reply).
My question on the triple threat: do you wait for all the timeframes you look at to have same colour before entering?
eg. if I decide to use 5min, 15min, 1hr as example, do I need to wait for all three to show same color in the indicators?

Thanks
  • #8,932
  • Edited 12:40pm Jun 27, 2024 11:23am | Edited 12:40pm
Quoting jcwelgemoed
RobinHood, firstly, thank you for all the support and advice. I am still fairly new at all this and this entire thread has been a wealth of information. If you don't mind (and apologies if I missed it in all the prior threads), but you mentioned you look at various timeframes - mostly entries on 1min, and 30min. for larger trend (if I remember from a previous reply). My question on the triple threat: do you wait for all the timeframes you look at to have same colour before entering? eg. if I decide to use 5min, 15min, 1hr as example, do I need to...
Thank you for the kind words.

This would be very complicated to answer properly in a short amount of time because I incorporate so many other nuances into what I trade, why I make a trade, how I trade and when I trade. After you have traded for a very, very long length of time like I have, you've seen enough that you get to where you can trust your gut feelings more than the indicators often times. And that's also true for many other things in life (like your profession).

Waiting for all 3 time frames you mentioned to be the same indicator color is probably a better idea than not, but I don't usually do it now, but I have in past.

Now, typically, I only use 2 time frames. I like using 2 time frames where the higher one is about 3-5 times higher than the lower one.

Lastly, if someone was going to teach me how to trade (starting from knowing nothing about charting/trading), I would want them to teach me what I wrote in Post #8909 to start with, along with how to properly incorporate divergences into my trading (read Post #8751). Then you also need to learn proper money management and the mental side of the game.
Always a Student, Never a Master - Emulate What Works
  • #8,933
  • Jun 27, 2024 12:29pm Jun 27, 2024 12:29pm
Quoting RobinHood
{quote} Lastly, if someone was going to teach me how to trade (starting from knowing nothing about charting/trading), I would want them to teach me what I wrote in Post #8909 to start with, along with how to properly incorporate divergences into my trading (read Post #8751). Then you also need to learn proper money management and the mental side of the game.
Thank you so much for the quite thorough answer. I will be reading those posts again right after I type this and then experiment some more with the new insights.
Regards
  • #8,934
  • Jun 28, 2024 8:22am Jun 28, 2024 8:22am
Quoting RobinHood
So I have reverted back to using smTMMS_v5.0 because it has neither the gold line, nor the arrows.
I am back to this thread and its a pleasure to see how it gets better and better!

My I ask you for smTMMS_v5.0

Thanks!
  • #8,935
  • Jun 28, 2024 8:28am Jun 28, 2024 8:28am
Quoting pewebly
{quote} I am back to this thread and its a pleasure to see how it gets better and better! My I ask you for smTMMS_v5.0 Thanks!

You do know its freely available under the paperclip at the top of each page ???
  • #8,936
  • Jun 28, 2024 9:15am Jun 28, 2024 9:15am
Quoting pewebly
{quote} I am back to this thread and its a pleasure to see how it gets better and better! My I ask you for smTMMS_v5.0 Thanks!
Attached File(s)
File Type: mq4 smTMMS Oscillator_v5.0.mq4   14 KB | 497 downloads
Always a Student, Never a Master - Emulate What Works
  • #8,937
  • Jun 28, 2024 10:41am Jun 28, 2024 10:41am
Quoting RobinHood
This is about as easy of a way that I have ever seen to consistently make winning trades. I don't write code in MT4, but I do write code for the trading platform that I use to trade stocks (TC2000). I wrote the code for my stock scanner (last Monday evening) to show me all of the stocks (Daily timeframe) that are doing what I've just outlined above and I have not lost (exited) a trade using it as of yet
Quoting SwingMan
The only thing I will program in the near future is an EA for the Golden-Cross Idea and it will inevitably lead to success...
Are we a bit closer to a profitable EA soon?
  • #8,938
  • Edited 11:21am Jun 28, 2024 11:10am | Edited 11:21am
Quoting pewebly
{quote} {quote} Are we a bit closer to a profitable EA soon?
I don't know how to write MT4 code, but I did/do write code in other trading platform's language and I have programed many, many trading systems. In fact, I used to sell them.

Most mechanical trading systems are optimized through back-testing to show the best results possible over the past X period of time. Then, based on those past results they are traded going forward.

It has been my personal experience that because the future never matches the past that a mechanical trading system's performance typically erodes over time and then they need to be reoptimized again, and that's why I never learned to code MT4.

I am not saying that EA's can't be profitable, I am just saying what my experience has been with mechanical trading systems.
Always a Student, Never a Master - Emulate What Works
  • #8,939
  • Edited 3:10pm Jun 28, 2024 2:55pm | Edited 3:10pm
Quoting pewebly
Are we a bit closer to a profitable EA soon?
An EA for the Golden Cross idea is almost ready and will also be profitable.

But of course I cannot publish it in the forum or sell it. If no one has understood and checked how GC works, I cannot convince anyone to leave their job and go to an island in the Caribbean to trade from there, like I did:
Attached Image (click to enlarge)
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Four years ago I wrote here: https://www.forexfactory.com/thread/...7#post12428737
that I wanted to buy a Tesla model X,
Attached Image (click to enlarge)
Click to Enlarge Name: Tesla Model X.jpg Size: 4 KB

and it actually took a long time until I ordered this model last week, and now I'm waiting for it to be delivered...
As you can see, there is a saying: "no pain, no gain".
  • #8,940
  • Jun 29, 2024 5:31am Jun 29, 2024 5:31am
Quoting SwingMan
{quote} An EA for the Golden Cross idea is almost ready and will also be profitable. But of course I cannot publish it in the forum or sell it. If no one has understood and checked how GC works, I cannot convince anyone to leave their job and go to an island in the Caribbean to trade from there, like I did: {image} Four years ago I wrote here: https://www.forexfactory.com/thread/...7#post12428737 that I wanted to buy a Tesla model X,{image} and it actually took a long time until I ordered this model last week, and...

Congratulations @SwingMan on your Tesla model X.

I am still working hard to achieve my goal in getting this within the next remaining 26 months,
https://www.forexfactory.com/thread/...8#post14691838


Attached Image

I was in the dealership showroom this morning and they have a 2024 model with new 20-inch alloy wheel which look gorgeous and really much quieter with foam-filled tyres..


...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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