Simple Way To Trade EURUSD & GBPUSD

Quoting sheppy

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{quote} ok I see where you are referring to. Its pretty low odds trade. I like to see the candle not even touch the moving average. might miss some of the move but it helps me eliminate indecision

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Quoting sheppy

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This is a great strategy 50 /50 or the 8 /10 I like 6/10 as it does set up more often. If you know your pair or asset and time it when the volume is there it will be a pretty consistent method. Plus you will know when and why you are pulling the trigger

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Quoting Merka

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@stirmatt How do you filter out all these false signals during a trend? {image}

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Quoting stirmatt

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{quote} Hi Marka, One of the best ways to filter out fake move is to consider what's going on H1 chart if you want to pick your signal on M15 chart. Check if the candles are above the two channel lines on H1 (at least two or three candles should closed above the lines) to determine uptrend then, look for buy signal on M15 chart. If you want to M30 or H1 chart for your setup (signal) then you have to use H4 chart to determine your trend. I may find time tomorrow or next to upload my customize trading system with sound to call your attend when there's...

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Quoting Merka

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{quote} The chart that I posted it's already a H1 chart and the signals are per the rules. Did a quick visual backtesting and found these false signals are very common in trends where you can easily have >4 false entries. As you are prop firm trader, would like to understand how you manage scenarios like that because prop firms have a limit on DDs? Thanks

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Quoting RiskFighter

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{quote} Hi Merka You show the H1 chart, which has false signals to the short side. If I understand you right. So the thing is that higher TF always must be checked to se the direction of the trend. And that is an uptrend, therefore you should not take short signals on the H1 TF. Sorry if I have not understood you right?? {image}

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Quoting Merka

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{quote} The chart that I posted it's already a H1 chart and the signals are per the rules. Did a quick visual backtesting and found these false signals are very common in trends where you can easily have >4 false entries. As you are prop firm trader, would like to understand how you manage scenarios like that because prop firms have a limit on DDs? Thanks

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Quoting stirmatt

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{quote} Hi Merka, You must first know that every supposed setup you found on the chart using any kind of system or EA will not produce profit. False signal, lose trades and loss are part of trading and that's why adequate risk management must be put in place before taking any trade. If you're planning to take your trade on H1 chart, H4 chart must be your guide. If trend is up on H4 chart, you must ignore sell signal on H1 chart until H4 chart turn to down trend. Waiting for trend to form and show clear direction before placing your trade will save...

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Quoting Merka

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{quote} Make sense and agree with you. Suggest you update the rules on page to add this trend filter Cheers

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Quoting stirmatt

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Let use yesterday scenario on EURUSD M15 chart as seen in the attached picture. The first movement below the channel on M15 highlighted with circle was not confirmed on H1 because the candles were still above the channel on H1 and RSI value was not below 50. In this case, it is better to let the opportunity pass because it is risky especially on non trending days. The better way to place the pending order in this case is marked with red line in the attached picture. Your profit target on EURUSD M15 should between 20pips and 30pips and move your...

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