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Attachments: Simple Way To Trade EURUSD & GBPUSD
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Simple Way To Trade EURUSD & GBPUSD

Quoting sheppy
{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
good approach
Quoting sheppy
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
didn't get what you mean with these 50/50 8/10 6/10.
can you please elaborate it?
@stirmatt

How do you filter out all these false signals during a trend?
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1 13-11-2024.png Size: 65 KB
Quoting Merka
@stirmatt How do you filter out all these false signals during a trend? {image}
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 potential trade setup on the chart.
Quoting stirmatt
{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...
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
Quoting Merka
{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
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??
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 28 KB
Read post #1 !! Then read it again 10 more times before you ask.
Quoting RiskFighter
{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}
Another way is to colour the channel. See my post #40. If the channel were coloured using the Smoothed Heiken Ashi, then the channel would be blue and this means that only long trades are allowed.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 27 KB
Read post #1 !! Then read it again 10 more times before you ask.
Quoting Merka
{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
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 you from false signals (though you'll miss some trades at times that may produce good profit but it's better to be saved than to be sorry). I don't seek trade setup or signal until London open and I don't usually place trade after London close.

I have attached two charts to this reply to guide you but if you aren't clear yet, kindly mark where you think you should have pick the signal from the chart and I would be able to analyze it.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: H1 Chart.png Size: 59 KB
Click to Enlarge Name: H4 Chart.png Size: 52 KB
Quoting stirmatt
{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...
Make sense and agree with you.
Suggest you update the rules on page to add this trend filter
Cheers
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  • Last Post: Nov 14, 2024 11:58am Nov 14, 2024 11:58am
Quoting Merka
{quote} Make sense and agree with you. Suggest you update the rules on page to add this trend filter Cheers
The main rule says if you're trading on M15 chart, check H1 chart to determine the trend and nothing has changed. Trading time for individual is different but anyone who has been trading for a while will know that it's better to trade when there's volume in the market. Some traders like Asian session but I prefer London and NY except if I am pick my signal on H4 chart using D1 to determine my trend
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