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Easy Eyes (No Indicators) Simple Day Trading

  • #141
  • Dec 9, 2010 12:34am Dec 9, 2010 12:34am
nice thread here I am posting mainly to add an auto subscription.

I do something very similar, however i use timeless charts via a renko script. If your unfamiliar with renko there are many threads that cover the subject here already. Here is a screenshot with a live trade that is still active. On my left moniter i have a 30pip renko setup and on the right a 10 pip setup also i watch the 1min charts that are driving the 10 pip charts. The 30pip is my trend and 10 pip is my entry.....the 1min also helps on entry exit.....i shoot for 20 pips or so then pull off 1/2 and set stop to break even and let the rest ride with a 50 pip trail. Its not very often but once a month or so one of my 1/2 sized runners takes off for 300-500 pips. im linking to my picture as it is 4096x2304 and much to large to post in forum

http://screencast.com/t/yp6cPwXF
  • #142
  • Dec 9, 2010 9:16am Dec 9, 2010 9:16am
EURUSD setting up for a pullback soon....
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  • #143
  • Dec 9, 2010 9:26am Dec 9, 2010 9:26am
Chalk one up for Pilotui's method. It looks good on the change in direction at 30m. I've been missing these and trying to keep a closer eye on it and caught one this morning. I actually put the entry under the last 5m bar in the recent 30m, but I think his way is to put it under/over the extreme of the 30m. I just didn't remember which at the time. Either would have worked on this move.
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  • #144
  • Dec 9, 2010 9:28am Dec 9, 2010 9:28am
I know I have been studying for my finals which is tonight HAH.. so yeah I still trade this method.. and heres a screen shot... I rode up the first trend that broke out of range and now Im on the down trend..

on the left screens you can see my initial last trade.. on the way down I been selling it in half at very strong resistance points.. but still riding it
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  • #145
  • Dec 9, 2010 9:57am Dec 9, 2010 9:57am
mustard cloud entry for +21
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  • #146
  • Dec 9, 2010 10:01am Dec 9, 2010 10:01am
Quoting newyear498
I know I have been studying for my finals which is tonight HAH.. so yeah I still trade this method..
Looking at your charts and then mine and then further reading into the threads title, I think I have convoluted your thread. my apologies.... I will start a new thread.
  • #147
  • Dec 9, 2010 1:47pm Dec 9, 2010 1:47pm
Quoting enochben
Looking at your charts and then mine and then further reading into the threads title, I think I have convoluted your thread. my apologies.... I will start a new thread.
Thats fine, please feel free to leave a link to your new thread I appreciate your respect
  • #148
  • Dec 9, 2010 4:01pm Dec 9, 2010 4:01pm
Newyear, yes I must apologize too. Good to see you are doing well and i wish all the best for your finals.



Best regards,




___________
michael
Be like water.
  • #149
  • Edited 8:56am Dec 10, 2010 8:20am | Edited 8:56am
I was reluctant to enter near the reports, but the spread went to normal pretty quickly and I got in for 20 pips. Looks like cable would have paid as well.
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  • #150
  • Dec 10, 2010 5:33pm Dec 10, 2010 5:33pm
whats the point of indis in m1 chart ,theres too much action there ,averages havve to catch up after price
  • #151
  • Dec 11, 2010 5:08pm Dec 11, 2010 5:08pm
Traded this three days this week Friday.

Tuesday 11
Wednesday 82
Thursday 45

Tuesday was a really screwed trading sequence because I was second guessing my self. Didn't start methodically taking profits until Wed. and Thur.

1. I look for a reversal signal 5min Heikin-Ashe inside candle or preferably doji at a pivot point or MA's
2. Enter on break or retrace after 1min break or use the 1min method NY.
3. Use the opposite end of the reversal candle as the stop. Usually 10-12 pips.
4. 1/2 off at 10 the rest off at 20.

Thanks New Year
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  • #152
  • Dec 11, 2010 5:33pm Dec 11, 2010 5:33pm
Awesome dfstone32,

Are you using the 30M at all or just focusing on the 5M/1M?

I am very happy to see your success

I also have to ask you about oandas pivots, looks like your using them when they looked a little weird and not where they should have been due to my manual drawing.. do they work for you I will have to try them again!

Thanks for sharing your results!
  • #153
  • Dec 11, 2010 6:52pm Dec 11, 2010 6:52pm
[quote=Iamfx;4197699]
Quoting newyear498

Forgot you were with Oanda---wont work with them.
It would be fairly easy to download any old mt4 platform--keep it on your task bar and as soon as you make a trade on Oanda do the same on mt4. Might distract you from your trading though
@newyear498

It does work with Oanda, FXCM and of course with MT4. An excellent free tool to analyze/improve your system and trade results from different angles. I use it actively with my several different accounts, real and demo, auto/manual. You can set/limit it private just for yourself and/or public.
  • #154
  • Dec 11, 2010 8:32pm Dec 11, 2010 8:32pm
[quote=toppo qqq;4236923]
Quoting Iamfx

@newyear498

It does work with Oanda, FXCM and of course with MT4. An excellent free tool to analyze/improve your system and trade results from different angles. I use it actively with my several different accounts, real and demo, auto/manual. You can set/limit it private just for yourself and/or public.
Thanks toppo.. just wanted to know if they were being plotted properly.. they appear to now.. but when I first got on oanda.. they were in weird places now they look to match up better.. I suppose years of updates fixed it.. or maybe it was just me haha.. easy to plot tool

thanks!
  • #155
  • Dec 11, 2010 11:24pm Dec 11, 2010 11:24pm
[quote=newyear498;4236974]
Quoting toppo qqq

Thanks toppo.. just wanted to know if they were being plotted properly.. they appear to now.. but when I first got on oanda.. they were in weird places now they look to match up better.. I suppose years of updates fixed it.. or maybe it was just me haha.. easy to plot tool

thanks!
my pleasure, newyear498. i am deeply embedded with Oanda, so any system/trader who upload Oanda charts attracts me my method is a breakout of s/r using line chart with trend confirmation (a pattern reading of my own) based on a few moving averages on M15, around euro/london open. incorporating HA may improve my gain rates, so will be following this thread with great interest. keep up the good work, and thanks for sharing. toppo
  • #156
  • Dec 12, 2010 9:56am Dec 12, 2010 9:56am
Quoting newyear498
Awesome dfstone32,

Are you using the 30M at all or just focusing on the 5M/1M?

I am very happy to see your success

I also have to ask you about oandas pivots, looks like your using them when they looked a little weird and not where they should have been due to my manual drawing.. do they work for you I will have to try them again!

Thanks for sharing your results!
No problem. I'm not using the 30 minute at all. I'm trading very small now 3:1 And probably will through Dec. How much leverage do you use NY.

I use Oanda's pivots and haven't had a problem. I'm not sure why they don't feel the need to have a "real" charting package but fancy charts don't make a good trader either. a little flexibility would be nice.
  • #157
  • Dec 12, 2010 5:10pm Dec 12, 2010 5:10pm
Quoting dfstone32
No problem. I'm not using the 30 minute at all. I'm trading very small now 3:1 And probably will through Dec. How much leverage do you use NY.

I use Oanda's pivots and haven't had a problem. I'm not sure why they don't feel the need to have a "real" charting package but fancy charts don't make a good trader either. a little flexibility would be nice.
leverage for me is 20:1

its really less important I suppose to your actual management.. I'll set my stoploss to 1% of my account at most.. usually I trade larger when I'm having a good day and lower when I'm having a bad day.. sometimes the market just won't do what you feel like it has to go up 100% so you feel.. haha.. then other days its like.. yeah I'm the best trader around... and sometimes I come on forums and see traders saying its a horrible day to trade when I was thinking it was so easy.. and the other way around

I actually have plans on moving up to 2% on some trades but I just havent felt comfortable yet at that level.. I say trade as much as you can feel comfortable with.. and by that I mean comfortable losing..

I try to put emphases tho that I am not an expert so those are just my experiences, I think your very wise to move slowly as you appear to be.. if only I was slower when I first jumped in
  • #158
  • Dec 12, 2010 6:35pm Dec 12, 2010 6:35pm
Just like to thank NY et-al for a great thread. I am new to trading but will endeavour to learn this system. I hav'nt had the time yet to read all the posts but can you tell me if its possible to trade using 'igindex'? As far as i'm aware they dont have 'Heikin-ashi'. Would this mean havin a different borker. If so, who do you recommend?
Many thanx to ALL
D
  • #159
  • Dec 12, 2010 10:34pm Dec 12, 2010 10:34pm
Quoting lukyman
Just like to thank NY et-al for a great thread. I am new to trading but will endeavour to learn this system. I hav'nt had the time yet to read all the posts but can you tell me if its possible to trade using 'igindex'? As far as i'm aware they dont have 'Heikin-ashi'. Would this mean havin a different borker. If so, who do you recommend?
Many thanx to ALL
D
Thank you for your kind words,

Solution could be getting meta trader off alpari-us.com

its free and then you can get use the platform to plot HA

use that charting software and place trades with your broker
  • #160
  • Dec 13, 2010 9:11am Dec 13, 2010 9:11am
Today is an absolutely beautiful day for this method.. when things trend you will make really good money because this gets your in around 20% of the bottom and out around 80% of the top.. just my opinion.. if only I had today to trade.. but I couldn't get in for a trade until now...

no problem I'll take what I can get... actually this trade is going to net 6% of my account if it hits TP and I am already at break even.. but I will lock in 2% and such as I see fit and so forth..


set my bottom left screen to candle sticks so you can see the trade in both aspects.. I enter after the 5M pull back and bought on the dip/ new trend up
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