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A simple strategy with no indicators

  • #81
  • Jul 21, 2010 8:05am Jul 21, 2010 8:05am
iam looking for a pair with reasonable movements. not too volatile. maybe about 30 pips a day. can anyone help ? most major pairs seem really volatile and can move 100 or so points a day.
  • #82
  • Jul 21, 2010 11:40am Jul 21, 2010 11:40am
Quote
Quote:...
Here is a chart with all losses. Hope you see where I am not doing something right.

KingHigh

__________________
Attached Image (click to enlarge)
Click to Enlarge Name: noindie.gif Size: 17 KB
  • #83
  • Jul 21, 2010 1:50pm Jul 21, 2010 1:50pm
Quoting KingHigh
Here is a chart with all losses. Hope you see where I am not doing something right.

KingHigh

__________________
Yes they are all valid signals according to this strategy
Make It Simple !
  • #84
  • Jul 21, 2010 2:08pm Jul 21, 2010 2:08pm
Quoting KingHigh
Here is a chart with all losses. Hope you see where I am not doing something right.

KingHigh

__________________
I also invite you to count how many winners and losers in the attached chart
Attached Image (click to enlarge)
Click to Enlarge Name: example.gif Size: 49 KB
Make It Simple !
  • #85
  • Jul 21, 2010 4:06pm Jul 21, 2010 4:06pm
Just to let everyone know that I use real money with my strategy:

http://www.forexfactory.com/showthre...20#post3890520
Make It Simple !
  • #86
  • Jul 21, 2010 4:16pm Jul 21, 2010 4:16pm
ashraff999 ,

The 2nd high-lighted trade ( circled ) does not appear to have been a valid set-up ? Am I missing something on that trade set-up ?

I like the simplicity of the method and will follow it to gain confidence in the set-ups. Thanks for sharing it .



Best of trades ,

EZ
" Master Your Set-Up , Master Yourself "
  • #87
  • Jul 21, 2010 4:46pm Jul 21, 2010 4:46pm
Quoting EZTrades
ashraff999 ,

The 2nd high-lighted trade ( circled ) does not appear to have been a valid set-up ? Am I missing something on that trade set-up ?

I like the simplicity of the method and will follow it to gain confidence in the set-ups. Thanks for sharing it .



Best of trades ,

EZ
It is a valid set-up but resulted in a loss had you waited till the close of the candle. However, if you set up the target at the psychological level 88.50, you would have won the trade despite it closed bearish. Thanks for your input
Make It Simple !
  • #88
  • Jul 21, 2010 6:47pm Jul 21, 2010 6:47pm
Thanks ashraf ,

I see the set-up now .




EZ
" Master Your Set-Up , Master Yourself "
  • #89
  • Jul 21, 2010 7:00pm Jul 21, 2010 7:00pm
Looks like a new set-up on the GBP/JPY .




Best of trades .

EZ
" Master Your Set-Up , Master Yourself "
  • #90
  • Jul 21, 2010 7:24pm Jul 21, 2010 7:24pm
Quoting whatfx
iam looking for a pair with reasonable movements. not too volatile. maybe about 30 pips a day. can anyone help ? most major pairs seem really volatile and can move 100 or so points a day.
Best of luck....

http://i28.tinypic.com/73jl0p.png
  • #91
  • Jul 21, 2010 7:46pm Jul 21, 2010 7:46pm
A sell on the open of GBP/JPY @ 131.87 hit 1st psychological TP of 131.50 ( +37 pips ) within 20 minutes of open of the new bar.




Best in life,

EZ
" Master Your Set-Up , Master Yourself "
  • #92
  • Jul 21, 2010 8:17pm Jul 21, 2010 8:17pm
Quoting ashraf999
Just to let everyone know that I use real money with my strategy:

http://www.forexfactory.com/showthre...20#post3890520
hi

a few things still need to be clarified.

when you say the body of the signal candle must be higher than the previous two. do you count the top and bottom wicks as part of the body ? by how many pips must the body be higher by at least ?


in order to count a candle as valid, what is the minimum width it has to be, i.e. at least how many pips it has to be ? you see some candles are only about 2-3 pips in body, some are just a wick. so how do you count a candle as being valid. what is the minimum pips it has to be in body ?


i see there is a set on the gbp / usd pair, short signal. do you agree ?


regards
  • #93
  • Jul 21, 2010 8:34pm Jul 21, 2010 8:34pm
Quoting whatfx


i see there is a set on the gbp / usd pair, short signal. do you agree ?


regards
I agree on GBP/USD. I am short on it since 5 pm EST.

Also short EUR/JPY (already up 50 pips) and GBP/CHF (still around break even).
  • #94
  • Jul 21, 2010 9:24pm Jul 21, 2010 9:24pm
Hi Ashraf99 and all,

Today (22.July.2010) spotted GU short setup, is it a valid short setup? http://i589.photobucket.com/albums/s...2_GU_Short.jpg

If yes, would u think that the SL is too small for a D1 trade?

Broker : IBFX
  • #95
  • Jul 21, 2010 9:47pm Jul 21, 2010 9:47pm
Quoting whatfx
hi

a few things still need to be clarified.

when you say the body of the signal candle must be higher than the previous two. do you count the top and bottom wicks as part of the body ? by how many pips must the body be higher by at least ?


in order to count a candle as valid, what is the minimum width it has to be, i.e. at least how many pips it has to be ? you see some candles are only about 2-3 pips in body, some are just a wick. so how do you count a candle as being valid. what is the minimum pips it has to be in body ?


i see...
no wicks...just the body which is the distance between open and close. If it is a doji then there is no body because the open would be the close itself. As long as there is a "difference" between open and close, then there is a body..

Yes there are valid gbpusd, eurjpy & gbpjpy setups
Make It Simple !
  • #96
  • Jul 21, 2010 9:53pm Jul 21, 2010 9:53pm
Quoting maxximuz
Hi Ashraf99 and all,

Today (22.July.2010) spotted GU short setup, is it a valid short setup? http://i589.photobucket.com/albums/s...2_GU_Short.jpg

If yes, would u think that the SL is too small for a D1 trade?

Broker : IBFX
Yes this a valid setup as per this strategy. The SL is too small indeed. But I would take the risk and trade it. You may set your stop loss higher @ 1.5250. That is entirely your decision. But remember to always and always set your stop losses no matter what happens
Make It Simple !
  • #97
  • Jul 21, 2010 10:07pm Jul 21, 2010 10:07pm
Quoting maxximuz
Hi Ashraf99 and all,

Today (22.July.2010) spotted GU short setup, is it a valid short setup? http://i589.photobucket.com/albums/s...2_GU_Short.jpg

If yes, would u think that the SL is too small for a D1 trade?

Broker : IBFX
Hi max

I read comments from some seniors advising that G-U has large pips swing everyday, easily > 100. Thus SL should set more. IMO.

tpat
  • #98
  • Jul 21, 2010 10:40pm Jul 21, 2010 10:40pm
Quoting ecforex
I have finished a scanner indicator ...

Install it as indicator and run on one screen on time frame of your choice.

It will scann ALL low spread pairs on every new bar .. so if u install it on M15 charts it will scan every 15 minutes. If you change TF it will scan immediately and then every new bar in the new TF ... like H1 ... then it will scan once per hour ..

I ignores the incompleted/last bar completely.

Please remember it scans for the BODY of the candle to be inside the previous bar.

I am also attaching a scanner for the Full candle...
thank you so much ecforex for the indi, is it possible you can post the code ?
  • #99
  • Jul 21, 2010 11:01pm Jul 21, 2010 11:01pm
ashraf99 & tradpat

Yes, I thought so, shd hv higher SL. Thanks

http://i589.photobucket.com/albums/s..._GU_Short2.jpg
SL : TP = 1:2
SL2 : TP = 1:0.5
SL2 : TP2 = 1:1.2

Just trying to look for better RR ratio. Let see how it goes
  • #100
  • Jul 21, 2010 11:28pm Jul 21, 2010 11:28pm
i have gone thru all the pages. like this simple daily strategy. entry is good. only issue is sl and tp, we cant have same sl,tp for all pairs due to different volatility. also risk reward ratio should be 2, may be we can use ATR to derive the SL,TP , i like the psychological levels 00, 50 also but sometimes they are too close.

if we have a EA then we can tweak the SL/TP values for each pair.
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