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Trading Made Simple(r)

  • #10,001
  • Edited 5:37pm Mar 13, 2025 6:13am | Edited 5:37pm
On average (simple guess) how much time do you spend on the charts? About 10-13 hours a day.

Do you have a set timeframe that's your favorite? 2 min. charts when day trading.

Do you avoid specific times? Usually 3 -4 p.m. eastern time.

Second question.. do you ever trade the Asian open? NEVER. I hate trading the Asian session. 3 a.m to about 11 a.m eastern time are the best times to trade.

I work a 7am-3pm job still. I find myself watching charts but not able to follow along well enough for some good moves and end up missing some good signals. I've been curious about checking out the Asian open when I'm at home after dinner or so for an hour or two while everyone is just chilling on the couch. Curious if you've ever had success with that? Nope.

I mean I guess people do it for a living in Asia so there is a market for it. Just wondering about your personal opinion of that opening market.

Third question (sorry thought of this way later)
You have mentioned a few times a few books to read... Do you mind re-stating those books? I purchased a kindle for some extra book reading and it seems I definitely value your opinion on these things more so than the YouTube gurus who pretty much push their own books.

I collect trading books and other forms of trading materials and I have literally hundreds and hundreds of them. So choosing just a few is tough and it also depends on what subject that you are interested in, like: Methods? Psychology? Money Management, Bet Sizing? Which Market Type? Day Trading? Swing Trading? Investing? etc.

So here are just a few:

Thinking in Bets by Annie Duke
The Disciplined Trader by Mark Douglas
Think & Trade Like a Champion by Mark Minervini
Reminiscences of a Stock Operator by Jesse Livermore
Insider Buy Super Stocks by Jesse C. Stine

Bird Watching in Lion Country
Attached File(s)
File Type: pdf Bird Watching In Lion Country.pdf   1.5 MB | 284 downloads

Phantom's Gift
Attached File(s)
File Type: pdf Phantom's Gift.pdf   371 KB | 261 downloads

Trading Beyond the Matrix
Attached File(s)
File Type: pdf Trading Beyond the Matrix.pdf   4.5 MB | 363 downloads
Always a Student, Never a Master - Emulate What Works
  • #10,002
  • Edited 8:15am Mar 13, 2025 7:34am | Edited 8:15am
Quoting oscarw02
hi guys, just come across this strategy looks really good just want to check im understanding it correct. ive read through the pdf document which was full of information can't believe how much you've put into helping people achieve their goals RH. I have just placed this trade on the following basis and want peoples opinions if they'd have got in or wouldn't have got in and why? {image} - Fast MA crossed the slow MA on the TDI with a sharp turn -previous up trend appears to be broken suggesting do wntrend possible -looking for TP to be either when...
You jacked the 10,000 post

Anyways, Im still learning as well so im gonna throw my two sense in and wait for confirmation or de-confirmation from the elders here.

I would have hesitated slightly on this trade cause it looks to me like you sold right into an order block... Personally I would have waited to see how price reacts to that block before buying or selling.
Attached Image (click to enlarge)
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where the green long rectangle box is that I added is where I'm seeing an order block. an area where buyers and sellers orders were being filled causing price to fluctuate. You can zoom in on the charts on the 1 minute and usually see price bouncing around in these blocks untill either buyers take control and push the price up, or sellers take control and push the price down...
I think,
I say I think because who fucking knows really other than the hedge funds making purchases in the millions that make the market do what it do.
thats not to say its not a valid trade. 50/50 chance. Price goes for you, or price goes against you. Lose this one, might win the next one.


I guess I should add in though from what I see on the indicators that it was a good signal.
Ive been trying to incorporate some sort of support and resistance areas where I've noticed time and time again in the past that my trades have been affected by them. They help me with profit targets. In the past a lot of the times i ended up putting my profit target past some of these zones and wondering why a lot of the times my earnings would disappear lol They would hit these zones and price would fluctuate a lot then reverse course. So I changed up how I place my stop losses and take profit targets a little bit to incorporate these "zones" and its helped me a little bit.
Just trying what I can to get rid of losses, not necessarily to just add winners all the time. But i guess those are two in the same.
Trying to learn how to learn how to teach a robot how to learn
  • #10,003
  • Mar 13, 2025 9:57am Mar 13, 2025 9:57am
Quoting Ronin-
{quote} Find attached the MA Direcion Indicator I use. This is based on EMA 10, 20, 30 ,60 and 8 to set direction. If the 8 ema crosses the 20 ema the trend has ended. Whilst this indicator uses different EMAs to the recommended, it does compliment the method well. On request I will provide inputs for the EMA / change the EMAs when time allows. R {file}

i really liked this indie, could you please include option to change the EMA's lenght in the indie's inputs.
  • #10,004
  • Mar 13, 2025 10:20am Mar 13, 2025 10:20am
Quoting Polimini
{quote} i really liked this indie, could you please include option to change the EMA's lenght in the indie's inputs.
Will do, when time allows. :-)
  • #10,005
  • Edited 11:15am Mar 13, 2025 10:56am | Edited 11:15am
This is the results of todays trading the method. The issue I'm having is sometimes the pullbacks are deep into the EMAs whilst other times it is a trend reversal. The RSO looks like a good setup only to end up being a reversal of trend. More learning and practice required.

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 3 KB

Profit Factor:2.12
Maximal Drawdown: (1.90%) Relative Drawdown:1.90%
Total Trades:36 Short Positions (won %):21 (95.24%) Long Positions (won %):15 (66.67%)
Profit Trades (% of total):30 (83.33%) Loss trades (% of total):6 (16.67%)
  • #10,006
  • Mar 13, 2025 11:08am Mar 13, 2025 11:08am
Quoting RobinHood
{quote} I always try to be conscious of S/R areas but I don't use them to trade per se. Personally, I think they work better on the Forex than they do on stocks. The Forex often trades between "levels" thereby creating S/R areas. The Forex is just constantly try to balance out exchange rates, where in theory you buy shares of stocks in companies always hoping that they will increase in value over time. So that's why I think they matter more in the Forex rather than in stocks.
Hi RH, regarding the S/R areas, which time frames do you look ( if) to " check them" , say when trading on a 2 min chart, this in order to avoid catching tops & bottoms.
Tks a lot
  • #10,007
  • Mar 13, 2025 11:26am Mar 13, 2025 11:26am
This is a crude example of what the issue is:

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 8 KB


The first trade works out but the second trade, you can see the upper fractal forming, orange stoch above 20 and blue stoch still below 20. Due to the real time movement of price you can see price and stoch starts to fall suggesting entry only to be a reversal. An tips on how to navigate this situation?
  • #10,008
  • Mar 13, 2025 11:59am Mar 13, 2025 11:59am
Quoting Ronin-
This is the results of todays trading the method. The issue I'm having is sometimes the pullbacks are deep into the EMAs whilst other times it is a trend reversal. The RSO looks like a good setup only to end up being a reversal of trend. More learning and practice required. {image} Profit Factor:2.12 Maximal Drawdown: (1.90%) Relative Drawdown:1.90% Total Trades:36 Short Positions (won %):21 (95.24%) Long Positions (won %):15 (66.67%) Profit Trades (% of total):30 (83.33%) Loss trades (% of total):6 (16.67%)
U going for 1:1s?
  • #10,009
  • Mar 13, 2025 12:09pm Mar 13, 2025 12:09pm
XAGUSD.

2R.
Attached Image (click to enlarge)
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  • #10,010
  • Mar 13, 2025 12:11pm Mar 13, 2025 12:11pm
Quoting csierravh
{quote} Hi RH, regarding the S/R areas, which time frames do you look ( if) to " check them" , say when trading on a 2 min chart, this in order to avoid catching tops & bottoms. Tks a lot
The higher time frames such as 4 hr. and the Daily.
Always a Student, Never a Master - Emulate What Works
  • #10,011
  • Mar 13, 2025 12:12pm Mar 13, 2025 12:12pm
AUDNZD 1D/12H long position soon if indicators give confirmation.
Lets see...
Attached Image (click to enlarge)
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  • #10,012
  • Mar 13, 2025 12:22pm Mar 13, 2025 12:22pm
Quoting Ronin-
This is a crude example of what the issue is: {image} The first trade works out but the second trade, you can see the upper fractal forming, orange stoch above 20 and blue stoch still below 20. Due to the real time movement of price you can see price and stoch starts to fall suggesting entry only to be a reversal. An tips on how to navigate this situation?
I get it. It happens to me almost every day, remember...

"Perspective Determines Opinion"

So here's my perspective about it...

Does every professional baseball player swing at EVERY perfect pitch (at least in theory)?

Yes. Does he hit the ball every single time? NO. But he still swings at it because that's what his job is to do.

So I swing at every perfect trade, but I still lose sometimes. Losing is just a part of trading, so going in knowing that, why be surprised when it happens?

* BTW, most professional traders only win about 30-40% of their trades.
Always a Student, Never a Master - Emulate What Works
  • #10,013
  • Mar 13, 2025 12:55pm Mar 13, 2025 12:55pm
Quoting RobinHood
{quote} I get it. It happens to me almost every day, remember... "Perspective Determines Opinion" So here's my perspective about it... Does every professional baseball player swing at EVERY perfect pitch (at least in theory)? Yes. Does he hit the ball every single time? NO. But he still swings at it because that's what his job is to do. So I swing at every perfect trade, but I still lose sometimes. Losing is just a part of trading, so going in knowing that, why be surprised when it happens? * BTW, most professional traders only win...
Absolutely and the reminder is most welcomed.
  • #10,014
  • Mar 13, 2025 1:03pm Mar 13, 2025 1:03pm
Quoting MaDxPT
{quote} U going for 1:1s?
1:1 or nearest fractal (S/R).
  • #10,015
  • Mar 13, 2025 2:54pm Mar 13, 2025 2:54pm
Quoting Ronin-
{quote} Find attached the MA Direcion Indicator I use. This is based on EMA 10, 20, 30 ,60 and 8 to set direction. If the 8 ema crosses the 20 ema the trend has ended. Whilst this indicator uses different EMAs to the recommended, it does compliment the method well. On request I will provide inputs for the EMA / change the EMAs when time allows. R {file}
Hello RB, do you use this new strategy now or still use first one wich was your firs page ? i mean 4 hour strategy?

Thanks
  • #10,016
  • Edited 8:57pm Mar 13, 2025 5:39pm | Edited 8:57pm
Go back and re-read Post #10,001. I just updated that post with some interesting trading books that you can download.
Always a Student, Never a Master - Emulate What Works
  • #10,017
  • Mar 14, 2025 7:25am Mar 14, 2025 7:25am
Hi Robinhood

Was curious as to where you personally would enter a short position on the following chart.

Many thanks
Sam
Attached Image (click to enlarge)
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  • #10,018
  • Edited 11:42am Mar 14, 2025 8:33am | Edited 11:42am
Quoting SF422
Hi Robinhood Was curious as to where you personally would enter a short position on the following chart. Many thanks Sam {image}
I can't give you one specific answer because there are too many variables that I don't know. I am looking at just one piece of the puzzle, but just based on your image there are several different entry methods one could employee here.

But if you want to know what I would do just based on your chart, I would enter just below the low of bar #3.

Let me give you an example of why I say there are too many variables that I don't know. Here is what I am looking at to day trade today right now:
Attached Image (click to enlarge)
Click to Enlarge Name: 4 charts 3-14-25.png Size: 126 KB

The 4 charts starting from left to right are the: 5 min., 2 min., 15 min., and the 1 hr.

Basically, the 2 and 5 min. are saying about the same thing, which makes sense because they are very close to being the same time frame. The 5 min. appears to be in an up trend but making a pullback, while the 2 min. has just made a lower high, imply it may be going down.

The 15 min. is saying up but it's also setting up a sell divergence based on the orange line.

The 1 hour is saying down, down, down, but is also making a retracement, possibly setting up a Continuation Trade OR it could turn into a reversal and become a Crossover trade, which typically happens if the yellow 3 ema crosses and closes above the 55 ema.

Now what we have not yet taken into consideration is what the RSO is saying, as well as the RHRSI which is VERY IMPORTANT.

Basically, the 1 hr. blue line in the RSO is saying that we are in a STRONG downtrend and the orange line is strongly saying that we are going back down most likely. This is my favorite type of entry on any chart.

The 1 hr. RSI is "implying" that we may still have room to go up, BUT most likely I would go Short when the orange line in the RSO crosses back down through green line.

Will the trade win? Who knows. But what I am doing here with my analysis is doing what I call "Educated Guessing".

Now I could also break down what the 2, 5 and 15 min. charts are telling me, but I just wanted to give you a VERY clear reason why I can't answer your question of where would I enter when it would be taken out of context.

What I am showing here is that this is a very complicated game to master, if one even ever does. That's probably why there is a 90-98% failure rate for those who play this game. They don't put in the study time and effort required to consistently beat the market.

I look at it this way, how many years does it take to become a medical doctor and how much does it cost, yet you can make more money by trading than a doctor, yet people think they can do it successfully without the needed education and experience.

I didn't intend to ramble on, but I had some free time before the market opens today and it was a good time to do some educating and explaining.
Always a Student, Never a Master - Emulate What Works
  • #10,019
  • Mar 14, 2025 12:23pm Mar 14, 2025 12:23pm
[quote=RobinHood;15182113]{quote} I can't give you one specific answer because there are too many variables that I don't know. I am looking at just one piece of the puzzle, but just based on your image there are several different entry methods one could employee here. But if you want to know what I would do just based on your chart, I would enter just below the low of bar #3. Let me give you an example of why I say there are too many variables that I don't know. Here is what I am looking at to day trade today right now: {image} The 4 charts starting from left to right are the: 5 min., 2 min., 15 min., and the 1 hr. Basically, the 2 and 5 min. are saying about the same thing, which makes sense because they are very close to being the same time frame. The 5 min. appears to be in an up trend but making a pullback, while the 2 min. has just made a lower high, imply it may be going down. The 15 min. is saying up but it's also setting up a sell divergence based on the orange line. The 1 hour is saying down, down, down, but is also making a retracement, possibly setting up a Continuation Trade OR it could turn into a reversal and become a Crossover trade, which typically happens if the yellow 3 ema crosses and closes above the 55 ema. Now what we have not yet taken into consideration is what the RSO is saying, as well as the RHRSI which is VERY IMPORTANT. Basically, the 1 hr. blue line in the RSO is saying that we are in a STRONG downtrend and the orange line is strongly saying that we are going back down most likely. This is my favorite type of entry on any chart. The 1 hr. RSI is "implying" that we may still have room to go up, BUT most likely I would go Short when the orange line in the RSO crosses back down through green line. Will the trade win? Who knows. But what I am doing here with my analysis is doing what I call "Educated Guessing". Now I could also break down what the 2, 5 and 15 min. charts are telling me, but I just wanted to give you a VERY clear reason why I can't answer your question of where would I enter when it would be taken out of context. What I am showing here is that this is a very complicated game to master, if one even ever does. That's probably why there is a 90-98% failure rate for those who play this game. They don't put in the study time and effort required to consistently beat the market. I look at it this way, how many years does it take to become a medical doctor and how much does it cost, yet you can make more money by trading than a doctor, yet people think they can do it successfully without the needed education and experience. I didn't intend to ramble on, but I had some free time before the market opens today and it was a good time to do some educating and explaining.[/quote

Hi RH, tks so much for such detail valuable information. Wanted to ask you about your opining on the opening range, and if you do use it and how.
Tks as always.
  • #10,020
  • Edited 1:44pm Mar 14, 2025 1:10pm | Edited 1:44pm
Quoting csierravh
Quoting RobinHood
{quote} I can't give you one specific answer because there are too many variables that I don't know. I am looking at just one piece of the puzzle, but just based on your image there are several different entry methods one could employee here. But if you want to know what I would do just based on your chart, I would enter just below the low of bar #3. Let me give you an example of why I say there are too many variables that I don't know. Here is what I am looking at to day trade today right now: {image} The 4 charts starting
...
I don't use it because it doesn't fit my trading style, and when day trading the S&P which I do every day, I rarely enter before 10 a.m. eastern time.
Always a Student, Never a Master - Emulate What Works
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