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Attachments: Simple 7 Strategy
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Simple 7 Strategy

  • #81
  • Jul 9, 2012 11:28am Jul 9, 2012 11:28am
It's the wrong time of day to be entering a trade here in CDT (11 am) but I have a sell stop @ .7922 for the Eur/gbp, 4H TF. Looks like a pretty good setup, at least I hope so. p.
  • #82
  • Jul 9, 2012 10:03pm Jul 9, 2012 10:03pm
Quoting piprac
I am having better results trading the 1H instead of the 15M & never the 5M. I only trade the a.m. NY session.
I will be testing the 1h chart this week, it may give less signals but If I set a goal for 50-100 pips, then close half position and let the rest break even or lock in pips as they come until a serious convergence or stop exit occurs. It might be less stressful and more productive.
  • #83
  • Jul 10, 2012 6:13am Jul 10, 2012 6:13am
Quoting piprac
It's the wrong time of day to be entering a trade here in CDT (11 am) but I have a sell stop @ .7922 for the Eur/gbp, 4H TF. Looks like a pretty good setup, at least I hope so. p.
This hadn't triggered by early evening so I closed it. No trade.
  • #84
  • Jul 11, 2012 8:59pm Jul 11, 2012 8:59pm
Look at the 4h audcad right now
Quoting piprac
This hadn't triggered by early evening so I closed it. No trade.
  • #85
  • Jul 11, 2012 10:43pm Jul 11, 2012 10:43pm
Quoting akatom2u
Look at the 4h audcad right now
Whoa - missed that one. What's going on in Aussie land?

edit: It's the unemployment figures. The rate remains the same so this pr might correct and head north again.
  • #86
  • Edited 6:49pm Jul 16, 2012 6:48pm | Edited 6:49pm
I have moved to the 4H TF and am doing fairly well; still demoing this but have started a live acct application with Oanda. I can place a trade at 7 am & 7 pm and have a stress free trade going. Increased the acct by 1% today (starting from last night but considered today because 11pm is my rollocer time.) I like this TF but I always check the D and the 1H prior to entering a trade. p
  • #87
  • Jul 19, 2012 10:21am Jul 19, 2012 10:21am
I didn't see anything on the 7am, my time, 4H that I liked but an hour later on the 1H I shorted the E/$, very tight TP & SL as I had to leave the computer for a couple of hours. +15 pips, the move was bigger but the 9am news could just as well have triggered a SL. I jst went long on the A/$. I like this strategy because it is very simple to analyze a chart and then place a trade or if not then move on.
  • #88
  • Jul 20, 2012 7:34pm Jul 20, 2012 7:34pm
Quoting piprac
I didn't see anything on the 7am, my time, 4H that I liked but an hour later on the 1H I shorted the E/$, very tight TP & SL as I had to leave the computer for a couple of hours. +15 pips, the move was bigger but the 9am news could just as well have triggered a SL. I jst went long on the A/$. I like this strategy because it is very simple to analyze a chart and then place a trade or if not then move on.
Yes, kind of like daily pivot trading you could just trade a buy or sell based on where price is relevant to the Simple 7 system. I have thought of doing that but i really am trying to maximize the probability of a winning trade.
  • #89
  • Edited 2:58pm Jul 23, 2012 8:37am | Edited 2:58pm
I have shorted this pr on the 4H about 1 1/2 hrs ago, bounces around some but right now I am +10 pips. In @1.0268.

edit: SL hit, this trade just never got going.
  • #90
  • Jul 24, 2012 7:20pm Jul 24, 2012 7:20pm
Quoting piprac
I have shorted this pr on the 4H about 1 1/2 hrs ago, bounces around some but right now I am +10 pips. In @1.0268.

edit: SL hit, this trade just never got going.

That trade is up about 150 pips right now.
  • #91
  • Jul 27, 2012 7:22pm Jul 27, 2012 7:22pm
These are all my trades from this week. Trades were based on ideas in the Simple 7 threads here and on babypips.
Attached Image (click to enlarge)
Click to Enlarge Name: 2012-07-27_weeklytrades.png Size: 39 KB
  • #92
  • Jul 28, 2012 4:08pm Jul 28, 2012 4:08pm
This is the only strategy I am trading right now. Easy to understand and implement. WalMart has an 11x8 in. white board for $2. I listed the 11 pairs I follow & have a column for the 4H trend direction. Then I move to the 15M TF and look for a setup and if the direction agrees I can enter a trade. Of course I check for S/R, candle size & wicks, etc.

Tom - thanks for posting your results, I can see the light at the end of the tunnel and it's not on a train locomotive! piprac
  • #93
  • Edited 9:19pm Jul 28, 2012 8:59pm | Edited 9:19pm
Quoting piprac
This is the only strategy I am trading right now. Easy to understand and implement. WalMart has an 11x8 in. white board for $2. I listed the 11 pairs I follow & have a column for the 4H trend direction. Then I move to the 15M TF and look for a setup and if the direction agrees I can enter a trade. Of course I check for S/R, candle size & wicks, etc.

Tom - thanks for posting your results, I can see the light at the end of the tunnel and it's not on a train locomotive! piprac
I used to have a setup just like that when I was a big-dog trader...
I am considering just 6 pairs to trade at the moment. The eur/gbp pays alot per pip, but it has never seemed to be generous to me... Haha, just realized that, my whiteboard is more like 2x3 feet. Giving you an $ icon bro!
  • #94
  • Jul 28, 2012 11:13pm Jul 28, 2012 11:13pm
I happened to take a look here and thought some looking at this might like the attached indicator as it is a cross with a RSI filter thrown in. you can adjust it for any cross and level of RSI you like .mql attached.

I edited it to reflect the 7x50ma with 10 period rsi above 55 and below 45 . When all those are in line it produces an arrow on chart and can have alert as well.
Attached File(s)
File Type: mq4 sidus_v3.mq4   4 KB | 1,156 downloads
  • #95
  • Jul 29, 2012 12:17am Jul 29, 2012 12:17am
Quoting tommyd
I happened to take a look here and thought some looking at this might like the attached indicator as it is a cross with a RSI filter thrown in. you can adjust it for any cross and level of RSI you like .mql attached.

I edited it to reflect the 7x50ma with 10 period rsi above 55 and below 45 . When all those are in line it produces an arrow on chart and can have alert as well.
Very nice of you to share such a useful tool for the subscribers to my thread and myself! Very much appreciated
  • #96
  • Jul 31, 2012 10:11am Jul 31, 2012 10:11am
I can't make heads or tails out of this market; good news regarding US sentiment but the dollar is down across the 6 major pairs so I'm taking the month of August off, I'll return to betting after Labor Day. Good trading all, p.
  • #97
  • Aug 1, 2012 4:34am Aug 1, 2012 4:34am
Hi,

Thanks to akatom2u for this elegant and simple method.

For clarity do you take every cross of the 7 and 50 EMA in the trend direction?

Many thanks.
We're all just one trade away from humility.
  • #98
  • Aug 1, 2012 7:50pm Aug 1, 2012 7:50pm
Quoting Drewas
Hi,

Thanks to akatom2u for this elegant and simple method.

For clarity do you take every cross of the 7 and 50 EMA in the trend direction?

Many thanks.
I use the RSI as a filter and consider the direction of the 50 ema also. You should consider previous, recent resistance and support prices and news events as well. The basic idea is that you increase your probabilities of entering into profit using the basic Simple 7 system together with some proficiency in the forex market.
  • #99
  • Sep 14, 2012 2:40pm Sep 14, 2012 2:40pm
Here was another classic Simple 7 trade. I had to share it with you all...
Attached Image (click to enlarge)
Click to Enlarge Name: 2012-09-13_simple7example.png Size: 81 KB
  • #100
  • Sep 14, 2012 4:27pm Sep 14, 2012 4:27pm
Thanks Tom -

With the enlarging feature offered by FF I can see the chart and lettering 100%. Thanks again, p.
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