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Easy Eyes (No Indicators) Simple Day Trading

  • #121
  • Dec 3, 2010 11:42am Dec 3, 2010 11:42am
Quoting jmag
Sry I should have looked more closely at your following charts. I'm catching some action here.
Perfect.. looking at that you can clearly see the downtrend and you will know when things are changing direction without much hesitation
  • #122
  • Dec 7, 2010 6:18am Dec 7, 2010 6:18am
Quoting newyear498
Perfect.. looking at that you can clearly see the downtrend and you will know when things are changing direction without much hesitation

are you gonna post anymore charts ? are you making pips ?
  • #123
  • Dec 7, 2010 6:46am Dec 7, 2010 6:46am
Sorry most my time I started a new thread and also I have finals coming up so I have been laid back on trading until finals are over

  • #124
  • Dec 7, 2010 7:22am Dec 7, 2010 7:22am
to simplify and to have a reliable trigger - just add a 21EMA to the 5 min HA. When in a strong downtrend - wait for the first test of the 21 EMA and get short with a 8-10 pip SL. Just do the opposite for uptrends.
  • #125
  • Dec 7, 2010 7:53am Dec 7, 2010 7:53am
Quoting enochben
to simplify and to have a reliable trigger - just add a 21EMA to the 5 min HA. When in a strong downtrend - wait for the first test of the 21 EMA and get short with a 8-10 pip SL. Just do the opposite for uptrends.
Sounds like a good suggestion

@whatfx .. have you looked into pilotui thread he had some screen shots and a good outline..
  • #126
  • Edited 8:16am Dec 7, 2010 8:14am | Edited 8:16am
Quoting enochben
to simplify and to have a reliable trigger - just add a 21EMA to the 5 min HA. When in a strong downtrend - wait for the first test of the 21 EMA and get short with a 8-10 pip SL. Just do the opposite for uptrends.
I have taken two trades this AM using this method and will be looking to enter again when price goes above 1.3340 again...

The mustard cloud is the space between a 13 and 21 EMA - so i wait for pullbacks into the cloud to enter the trend of the moment.

note: this is a 3min chart

also note - only enter after a needle (long wick) if the candle has a short or no wick - there is too much strength to short
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  • #127
  • Dec 7, 2010 8:29am Dec 7, 2010 8:29am
another low risk entry
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  • #128
  • Dec 7, 2010 9:03am Dec 7, 2010 9:03am
Quoting enochben
another low risk entry
Looks great, thats some very promising pull back entries

I used a similar strategy on 1M before but i gave up on 1M and went to 5M and 15 / 30M's

This fits perfectly into the easy on the eye methods.. not to many indicators but moving averages provide nice guidelines as to direction

Would you mind sharing your template for the group?

Also are you saying before that the 21EMA gives the same signals as the larger timeframe ? Thanks!
  • #129
  • Dec 7, 2010 9:51am Dec 7, 2010 9:51am
Nice charts, enochben.

I'm thinking pivot &/or supp/res levels for targets from these entries...what exit strat have you found works best for you?

Edit: A couple of corkers off GU and EU just now (short).
  • #130
  • Dec 7, 2010 10:07am Dec 7, 2010 10:07am
Quoting newyear498

Would you mind sharing your template for the group?
I use sierra charts - if you use them for charting I would be happy to provide a template.
  • #131
  • Dec 7, 2010 10:13am Dec 7, 2010 10:13am
Quoting sidefx
Nice charts, enochben.

I'm thinking pivot &/or supp/res levels for targets from these entries...what exit strat have you found works best for you?
I have pivots on my charts but am using them less and less each day. I am using market structure to pinpoint previous swings. Google "market structure highs" for more info - there might be a thread at FF as well.

I set a standard target of 21 pips with a 13 pip SL. Today I took 6 trades - got 21 on all but 1 (a loss - only because i moved my stop too soon).

I have tried to hold for swings but do not have the intestinal fortitude to watch a profitable trade turn red, so I just collect 21 and look for the next entry.

looking at the charts, it looks fairly easy to build up a nice size position by just adding on at each pullback... but again - i dont have the stomach for that.
  • #132
  • Dec 7, 2010 10:16am Dec 7, 2010 10:16am
Arrrrrrrrr! Posting to this thread I missed another easy 21 pips!!!
Attached Image
  • #133
  • Dec 7, 2010 10:16am Dec 7, 2010 10:16am
Quoting enochben
I have pivots on my charts but am using them less and less each day. I am using market structure to pinpoint previous swings. Google "market structure highs" for more info - there might be a thread at FF as well.

I set a standard target of 21 pips with a 13 pip SL. Today I took 6 trades - got 21 on all but 1 (a loss - only because i moved my stop too soon).

I have tried to hold for swings but do not have the intestinal fortitude to watch a profitable trade turn red, so I just collect 21 and look for the next entry.

looking at the charts,...
Very kind of you to share this, thanks.
  • #134
  • Dec 7, 2010 11:22am Dec 7, 2010 11:22am
Quoting enochben
I use sierra charts - if you use them for charting I would be happy to provide a template.
Hello enochben,

I am testing sierra, and it looks good so far. Except for the fact that you enter trendlines through keyboard shortcuts.

However, I am just starting out. It would be great if you could post your template for the group or PM me.

And I will digg out another idea that works with some stochastic, I had this from another sierra user.

Many thanks, very interesting thread.



______________
michael
Be like water.
  • #135
  • Dec 7, 2010 12:26pm Dec 7, 2010 12:26pm
Quoting msmarple
Hello enochben,

I am testing sierra, and it looks good so far. Except for the fact that you enter trendlines through keyboard shortcuts.

However, I am just starting out. It would be great if you could post your template for the group or PM me.
you don't have to use keyboard shortcuts - just click the "TL" button at the top of your screen - click at one endpoint and click the other endpoint.

I have attached a zip folder of my chartbooks for euro, pound, europound, swissie and yen.

In case it doesn't work you might be able to pull up the following studies to mimick:

1. Market Structure MSL/MSH (paints white candle for MSH and blue for MSL)
2. Kiwi's Trailing Stop
3. Bill Williams Fractals
4. Inside Bar (paints orange candles)
5. Volume Weighted Average Price (just like to know where it is)
6. Pivot Points-Daily
7. Moving Averages (8,13 & 21)

Let me know if you have any questions.
Attached File(s)
File Type: zip sierra_simple_pullbacks.zip   23 KB | 716 downloads
  • #136
  • Dec 8, 2010 12:42am Dec 8, 2010 12:42am
@enochben

Thank you, I am in testing mode, do you use the FXCM or the ChoiceFX feed ?

I like the fact that you can switch timeframes so fast. I am used to MT4 and esignal.

My other idea to compliment this trading style was a combination of stochastics, 20,10,10 as larger waves and 5,3,3 as overlay.

There is a thread ( a bit older ) by Ninja96 here on FF who introduced me to this concept, maybe you can have a look. But this was based on Ensign charting.

Anyhow, many thanks - although my main trading is 4h and higher I like to have something I can use occasionally without much tech analysis.

Will report !






_______________
michael
Be like water.
  • #137
  • Dec 8, 2010 12:56am Dec 8, 2010 12:56am
If anyone likes trading the eurusd with this method ( hello Oandanians ), I have made good experiences with the basic Multiple Time Frame idea of Teb63 in his TEB trading thread.

Basically I use the 3h, 30min and 5min side by side, with a RSI set at 20 ( ! ). Highlight the 50 line.

If the 30min drops below the 50 line and 5min too, you very often see this confirmed by the Heikin Ashi candles.

In a way, this is a bit like the commercial forex-made-ez system, but without the clumsy oscar counting method, point-and figure etc.

We have our own tweaked method, and it is safer and free.

Just my 2 cents....



_____________
michael
Be like water.
  • #138
  • Dec 8, 2010 1:42am Dec 8, 2010 1:42am
Thanks enochben,

For the simple charts and 21 ema suggestion, Thanks to all contributors as well...

Can somebody make a similar template in MT4 as "enochben" similar sierra templates...

Good Luck..
The One Who Makes The Thunder Roar Also Hears A Butterfly Sigh - Ruzbeh
  • #139
  • Dec 8, 2010 6:06am Dec 8, 2010 6:06am
Hi enochben,

I finally managed to load the template, thank you. Funny how the brain, once used to 1 way of doing something is so " tunneled ". The file endings in esignal and MT4 are different, so I was making everything more complicated than it is.

Thank you, will test tomorrow morning.

For rspathy, I will try to create something similar as a template in Mt4, and also show some examples that could compliment this way of trading.

However, I think we have to stick to the main idea of the thread starter, and that is the MTF use of Heikin Ashi candles.

More soon, once again a big thank you !




___________
michael
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Be like water.
  • #140
  • Dec 8, 2010 7:54pm Dec 8, 2010 7:54pm
Thank you msmarple

Looking forward to it...

Thanks to all
The One Who Makes The Thunder Roar Also Hears A Butterfly Sigh - Ruzbeh
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