Simplicity is the Key | Page 13 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Simplicity is the ultimate form of sophistication ( Elite ) 866 replies

Why are we afraid of simplicity? 96 replies

Simplicity is the key to brilliance 36 replies

Signals for Simplicity 1,144 replies

The Journal of Simplicity Trade 12 replies

Attachments: Simplicity is the Key
Exit Attachments

Simplicity is the Key

  • #241
  • Feb 8, 2007 10:57pm Feb 8, 2007 10:57pm
Quoting ikimashu
hi trader 101~

have you see the bullish sign of GU ?
looks like its forming a good trend now!
any thoughts?
Hello, Iki
Could be, iki but at this point not clear yet, but if it reaches 1.9615 then i can say it is, if not then it will be tommorrow morning. Iki, i m also waiting for GBP to run bullish which could be its last trend for the week and i need it to get at least 50 pips. But I could be wrong....
  • #242
  • Feb 8, 2007 11:05pm Feb 8, 2007 11:05pm
Hi Jeff,

Needless to say your post is very interesting. Hope you don't mind a few simple questions:

1) what time frame are your candles?

2) on the average trade, how big are your winning pips compared to losing pips?

3) on average out of every 10 trades, how many are winners?

4) do you use Stop Losses?

5) are these the same 2 hours every day? or do you just trade when you feel like it?

thanks.

Quoting howtalru
Trader101, very nice, congratulations to you! I don’t know what your system is but based on the title of this tread it is very simple. I too believe that simplicity is the key. I have been trading for 6 years. 2 years in the currencies market. I trade currencies totally different than I trade equities (stocks/options). My currency trade system is so simple I don’t use any technical indicators at all. They never worked for me consistently over time in the currencies market. All I have are candles. Here’s what simplicity can do for ya. Since January 1st of 07 I’m up a little over 5,000 pips. I only trade 4 pairs and I spend less than 2 hours a day.
Keep up the good work. And again congratulations on 2 consecutive successful weeks of trading.
~Jeff~
  • #243
  • Feb 8, 2007 11:07pm Feb 8, 2007 11:07pm
Hello folks,
closer to trend pairs:
1. AUD/USD
2. USD/CAD --remember this pair that i trade at 15:00 ish? it was already trending then and still trending. i got bored and closes my trade with 1 pip profit. LOL
3. GBP/USD
Above pairs arrange according to most likely to likely.
The prices that i left in the afternoon with you for the trending zone is no longer valid. As i have explained in the earlier pages of this thread, my real median is being moved according to currency pair and time of the day. If you use it it might throw you off and you might be surpise it was the apex rather than the waistline.
  • #244
  • Feb 8, 2007 11:14pm Feb 8, 2007 11:14pm
Hello Darkstar,
It is really an honor to have you visited this thread.. Again thanks for your advice last week, it give me a lot of confidence when i am down.
  • #245
  • Feb 8, 2007 11:24pm Feb 8, 2007 11:24pm
I was just mentioning about assumming that it is the waistline of the run but you might be surprise that it was the apex, I think this the one happening in the NZD/USD i just traded. I just come in, without any investagation/analysis..chart look good, trade. boom you are in for the surprise, price just dive down. I do it by impulse, the impuse trading habit is hard to eliminate. Setup and trade prep is the most important part of trading i think and most of the time we forget it, like what happend to right now. Even if i get this trade to profit, i will not consider this as a win but a lucky shots. Still i will include it in my stats.
  • #246
  • Feb 8, 2007 11:43pm Feb 8, 2007 11:43pm
Ok folks im signing off...see you tommorrow.
Trader101
  • #247
  • Feb 9, 2007 12:20am Feb 9, 2007 12:20am
Quoting trader101
Hello Darkstar,
It is really an honor to have you visited this thread.. Again thanks for your advice last week, it give me a lot of confidence when i am down.
Glad I could help.

It looks like this system is working out well for you. When you get to 50 completed trades send me a PM and I'll show you how to analyze the profitability and efficiency of what your doing.
  • #248
  • Feb 9, 2007 2:42am Feb 9, 2007 2:42am
Quoting Darkstar
Glad I could help.

It looks like this system is working out well for you. When you get to 50 completed trades send me a PM and I'll show you how to analyze the profitability and efficiency of what your doing.
Thank you and I will
  • #249
  • Feb 9, 2007 2:46am Feb 9, 2007 2:46am
I lost Trade#22 by 24 pips. Again its NZD, jump to trade with out trading prep.
  • #250
  • Feb 9, 2007 2:48am Feb 9, 2007 2:48am
-UPDATE
CLOSED TRADES 1 lot trades (for this week)
Trade #1 Closed Gain +90 (in pips)
Trade #2 Closed Loss -24
Trade #3 Closed Loss -17
Trade #4 Closed Gain +20
Trade #5 Closed Gain + 2
Trade #6 Closed Loss -25
Trade #7 Closed Loss -15
Trade #8 Closed Gain +20
Trade #9 Closed Gain +50
Trade #10 Closed Gain +30
Trade #11 Closed Loss -25
Trade #12 Closed Gain +70
Trade #13 Closed Gain +20
Trade #14 Closed Loss -5
Trade #15 Closed Gain +55
Trade #16 Closed Loss -35
Trade #17 Closed Gain 2
Trade #18 Closed Loss -20
Trade #19 Closed Gain 12
Trade #20 Closed Gain 5
Trade #21 Closed Gain 1
Trade #22 Closed Loss -24
--------------------------------
NET P/L(this week) + 187
--------------------------------
NET P/L(last week) + 108
--------------------------------
OPEN TRADES -- None
  • #251
  • Feb 9, 2007 3:09am Feb 9, 2007 3:09am
Hello, Iki
There is a 4:30 Trade Balance report of the GBP that will determine if GBP will continue short or reverse to long position. If it goes long then it will be a very long rally, i think...
  • #252
  • Feb 9, 2007 3:38am Feb 9, 2007 3:38am
Quoting trader101
Hello, Iki
There is a 4:30 Trade Balance report of the GBP that will determine if GBP will continue short or reverse to long position. If it goes long then it will be a very long rally, i think...
hi trader~

the figure came out bad for UK~
I decide not to trade this news

i rather look for other pair with good trend signs!

I so hate news~
"Quality means doing it right when no one is looking"
  • #253
  • Feb 9, 2007 3:39am Feb 9, 2007 3:39am
--Trade #23
--SELL EUR/USD @MP (1.3005)
--SL 25 + spread
--TP -- TBA
  • #254
  • Feb 9, 2007 3:42am Feb 9, 2007 3:42am
Quoting ikimashu
hi trader~

the figure came out bad for UK~
I decide not to trade this news

i rather look for other pair with good trend signs!

I so hate news~
Try Short NZD/USD
Long USD/CAD or Short Aud/USD
  • #255
  • Feb 9, 2007 3:47am Feb 9, 2007 3:47am
Quoting trader101
Try Short NZD/USD
Long USD/CAD or Short Aud/USD
God this is unbelievable~

we entered same pair at same price~ wow!

I have been watching USD/CAD for the past 15 min. and can't decide ~

I do not like NZD, i experienced a slow boring movement which ended -15 pips...

the more frustrating today was my EUR/JPY....where it touched my SL and...a few min later started to fall~ damm!

oh~ what do u see on USD/CAD? on what time frame you see the bullish sign?
"Quality means doing it right when no one is looking"
  • #256
  • Feb 9, 2007 3:53am Feb 9, 2007 3:53am
Don't tell me you are speculating the bad figures from CAD later today~

so far CAD at its day high
"Quality means doing it right when no one is looking"
  • #257
  • Feb 9, 2007 4:01am Feb 9, 2007 4:01am
Quoting ikimashu
God this is unbelievable~

we entered same pair at same price~ wow!

I have been watching USD/CAD for the past 15 min. and can't decide ~

I do not like NZD, i experienced a slow boring movement which ended -15 pips...

the more frustrating today was my EUR/JPY....where it touched my SL and...a few min later started to fall~ damm!

oh~ what do u see on USD/CAD? on what time frame you see the bullish sign?
Long USD/CAD - mayb 30 to 40 pips - i used 15 min chart & 1 hr chart
EUR/JPY will stay up there, since the Tuesday night it cant fall for the whole week
NZD dont like it either it killed me 3 times this week - maybe im supertitous
  • #258
  • Feb 9, 2007 4:02am Feb 9, 2007 4:02am
Quoting ikimashu
Don't tell me you are speculating the bad figures from CAD later today~

so far CAD at its day high
Stay out of it, unless you know the 7:00 Employment Report. Maybe what we are seeing right now is just speculaive trend.
  • #259
  • Feb 9, 2007 4:02am Feb 9, 2007 4:02am
Quoting trader101
Long USD/CAD - mayb 30 to 40 pips - i used 15 min chart & 1 hr chart

My biggest concern is the chart is giving me a Buy sign, but my MACD does not confirm the entry~

what is the entry point u suggest? at current high? or will it retrace a bit ?
"Quality means doing it right when no one is looking"
  • #260
  • Feb 9, 2007 4:05am Feb 9, 2007 4:05am
Quoting trader101
--Trade #23
--SELL EUR/USD @MP (1.3005)
--SL 25 + spread
--TP -- TBA
looking good so far, the key is the TP now
since you announced a TBA, I still would like to know what is your ideal exit point..... LOL~

mine is set at TP1: 1.2985 TP2: 1.2970
"Quality means doing it right when no one is looking"
2 traders viewing now