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A "new" simple system based on MA

  • #1,181
  • Dec 10, 2013 2:37am Dec 10, 2013 2:37am
Quoting dogal3x
Is this a good trend confirmation on USDJPY? H1 shows trend up, nice EMA spread, RSI 5 shows up(above 50) {image} M30 shows up, nice EMA spread, RSI 5 up, but i see lower highs being formed( am I wrong)? {image} M15 shows up, EMA spread not that good, now higher highs are being formed wich is good but i see the price in a range of 33 pips( am i wrong)? {image} M5 shows up, EMA start to spread nice again, RSI 5 up, but previous 5M high yellow elipse still not broken wich means we are still in that 33 pip range (am i wrong)? {image} Should i wait...
Hi Dogal.

Firstable I am sorry to answer you so too much late but I was focused on my trading and I dont want to be "disturb" reading my own thread or surfing on the Internet. And it is a "gold advice" : when you trade be focused on it and dont do anything else ! Many "traders" look at facebook, FF, or something else while they trade and they ask me "why do we fail ???". That's a job for real : treat it as a business or you are dead.

Ok. About your analyze : You are right the trend is clearly up ! But the fact that the trend is clearly up is not enough to jump in a trade. Also be very careful with RSI5 : it gives you momentum and not the trend ! This is very important my friend. trend is given by PA and EMAs, and confirmed by the RSI21. So of course we are in an uptrend but if you look at your 1h chart you can see that you are near a resistance level. So now you know two very important things : you are in a strong up trend so you dont want to short this market, and you are near a resistance so you have 2 ways of trading :

- A fisrst choice can be to wait for a pullback on 5mn chart to enter long with a tight stop because you would take your profit near the resistance level. You had three signals (1 wrong on the first touch of the high and 2 right after).
- A second choice is to wait for a breakout of the resistance and then wait for a pullback on a 5min chart or even a 1min chart : this way is generally safer because you have the big money in the game. Nevertheless, you have to be careful about false B/O that's the inconvenient but you have to accept some losses. The advantage is that you can be at the begining of a strong move with a tight SL so that you can have a very high R/R. And on the long term this is very important to be a successful trader !!!!
  • #1,182
  • Dec 10, 2013 2:49am Dec 10, 2013 2:49am
Quoting ahgang
1st day training with this system, comments are welcome. {image} {image}
Hi and congratulations ! These are great setups. I thhink the market is GBP/JPY and this is a good rerason of your success ! Why ? Because the long term trend is clearly up on this pair so you can profit from it searching for nice pullback as yours.

But never forget to analyze your market on the LT. 1min chart is really hard so you need more confirmation about important levels and LT trends. I advise you to also have a look at the 15min chart which will give you more information than a 5min chart. Or be sure to look at many bars (Last 500 minimum) on the 5 min charts to get all important levels of S/R.

Welcome in the thread and I wish you many pips !
  • #1,183
  • Dec 10, 2013 4:58am Dec 10, 2013 4:58am
Quoting hmaoui
{quote} Hi Dogal. Firstable I am sorry to answer you so too much late but I was focused on my trading and I dont want to be "disturb" reading my own thread or surfing on the Internet. And it is a "gold advice" : when you trade be focused on it and dont do anything else ! Many "traders" look at facebook, FF, or something else while they trade and they ask me "why do we fail ???". That's a job for real : treat it as a business or you are dead. Ok.
Thank you for answering. Dont be sorry, you are doing us a favour. What do you mean "when you trade be focused on it and dont do anything else"?
The problem i find when Im looking at the trades that I have opened is that my fellings are getting in the way. And to much analyzing gets me taking bad decizions( closing to soon etc). I prefer to understand the rules perfecly so I can trade as a robot. That is why I look to place A+ trade and let it see what happens. Normaly all the decisions for that trade I make imidietly after I place that trade.
Because by the ruls i should be weaning on the long run ( they would be most winners and with a R/R of 2/1 I should be winning).

And I ment to say RSI 21 not 5 my bad.
"The trend is your friend, until the end, when it bends"
  • #1,184
  • Dec 10, 2013 5:08am Dec 10, 2013 5:08am
And another thing hmaoui. When you place a trade, how long do you expect it would take until it gets to TP? I suppose if the trade enters in a range after you place it and before it gets to TP and that range lasts for several hours you dont stere at the monitor all those hours. What you do in this situation? Cose i had many trades that did go my way and just before getting to TP they went in a range and i left them open and eventualy they reversed back to losing but after many hours. Do you have a rule let say: if the trade dosent reach TP on 1 hour for example you close the trade?
"The trend is your friend, until the end, when it bends"
  • #1,185
  • Dec 10, 2013 5:17am Dec 10, 2013 5:17am
This might help people using this very well thought method of trading. Thanks Hmaoui !
Attached File(s)
File Type: ex4 Key Reverse Number Levels.ex4   6 KB | 444 downloads
  • #1,186
  • Dec 10, 2013 5:31am Dec 10, 2013 5:31am
Quoting snail69
This might help people using this very well thought method of trading. Thanks Hmaoui ! {file}
Can you explain how it works? Thanks
"The trend is your friend, until the end, when it bends"
  • #1,187
  • Dec 10, 2013 5:53am Dec 10, 2013 5:53am
Quoting dogal3x
{quote} Can you explain how it works? Thanks
I do not understand your question dogal3x..... Those are levels and together with pivot levels one can observe what is price doing around them.
  • #1,188
  • Dec 10, 2013 8:06am Dec 10, 2013 8:06am
Quoting snail69
{quote} I do not understand your question dogal3x..... Those are levels and together with pivot levels one can observe what is price doing around them.
I mean, what is the importance of levels 0,20,50 and 80? I see that from level 0 to another level 0 is 100 pisp spread. So those levels are number of pips from 0.

But how they are calculated? Any link we can read? Thx.
"The trend is your friend, until the end, when it bends"
  • #1,189
  • Dec 10, 2013 12:04pm Dec 10, 2013 12:04pm
Quoting dogal3x
{quote} Thank you for answering. Dont be sorry, you are doing us a favour. What do you mean "when you trade be focused on it and dont do anything else"? The problem i find when Im looking at the trades that I have opened is that my fellings are getting in the way. And to much analyzing gets me taking bad decizions( closing to soon etc). I prefer to understand the rules perfecly so I can trade as a robot. That is why I look to place A+ trade and let it see what happens. Normaly all the decisions for that trade I make imidietly after I place that...

Hi. When I say stay focused on your trades it is an advice for all people who want to trade for a living. It was not specifically for you, just a remark for all followers.

Yes feelings are the most important ennemy of traders. To fight it you have to reduce the size of your position. When you start to follow a new system, you have to learn it to then master it. So it takes time and at the beginning you make mistakes. Mistakes could cost you a lot : of course you can lose money, but you can also have psychological problem such as doubts about the system so you trade according to your feels. If you reduce your size you will lose much less money so it does not hurt you ! You can experiment the system, learn it, and master it. When you master it, you are confident in it and you dont trade with your feels : you trade with the system. And you dont care about the results you stay focused on the method. THIS is the way of success, believe me !!! Earning money is just a consequence of work and discipline...So your goal is not to earn money it is to master your system and follow it.

So to begin you have to : reduce the size of your position and take only A+ setups. It doesnt matter if you miss some good movments. Markets will be here tomorrow ! Take only A+ setups. Of course you will have losses but as you enter with a reduced size, you wont be hurt by your losses.

Hope my answer is clear enough.
  • #1,190
  • Dec 10, 2013 12:09pm Dec 10, 2013 12:09pm
Quoting dogal3x
And another thing hmaoui. When you place a trade, how long do you expect it would take until it gets to TP? I suppose if the trade enters in a range after you place it and before it gets to TP and that range lasts for several hours you dont stere at the monitor all those hours. What you do in this situation? Cose i had many trades that did go my way and just before getting to TP they went in a range and i left them open and eventualy they reversed back to losing but after many hours. Do you have a rule let say: if the trade dosent reach TP on 1...
These situations occur when you have a bad timing, or when you are wrong. Anyway, the market does not confirm your scenario. That's ok, SL is here to protect you if you are wrong. But you can also exit before if after taking a rest and analyzing your trade you see that it was not the good moment to enter ! I am ok with that. Many successful traders use Time stop....I use it too sometimes. I take a breath and look at my trade : is the reason I entered is still ok or not ? Sometimes I see that it is not the case and I can decide to stop trading because I am fed up or ill for example. Sometimes I just get out of my position, and wait for an A+ setup.

You have to know your personality to make the right choice and to be objective on your analyze : Take a breath and start your analyze from zero
  • #1,191
  • Dec 10, 2013 12:11pm Dec 10, 2013 12:11pm
Ok. Here is a trade in a corrective market. Look at charts to get more explanations.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURJPY1H.jpg Size: 345 KB
Click to Enlarge Name: EURJPY15MIN.jpg Size: 337 KB
Click to Enlarge Name: EURJPY1MN.jpg Size: 400 KB
  • #1,192
  • Dec 11, 2013 1:55am Dec 11, 2013 1:55am
I took this trade too on EJ Gave me 30 pips.


Quoting hmaoui
Ok. Here is a trade in a corrective market. Look at charts to get more explanations. {image} {image} {image}
  • #1,193
  • Dec 11, 2013 5:44am Dec 11, 2013 5:44am
Quoting hmaoui
{quote} Hi. When I say stay focused on your trades it is an advice for all people who want to trade for a living. It was not specifically for you, just a remark for all followers. Yes feelings are the most important ennemy of traders. To fight it you have to reduce the size of your position. When you start to follow a new system, you have to learn it to then master it. So it takes time and at the beginning you make mistakes. Mistakes could cost you a lot : of course you can lose money, but you can also have psychological problem such as doubts about...
Quoting hmaoui
{quote} These situations occur when you have a bad timing, or when you are wrong. Anyway, the market does not confirm your scenario. That's ok, SL is here to protect you if you are wrong. But you can also exit before if after taking a rest and analyzing your trade you see that it was not the good moment to enter ! I am ok with that. Many successful traders use Time stop....I use it too sometimes. I take a breath and look at my trade : is the reason I entered is still ok or not ? Sometimes I see that it is not the case and I can decide to stop trading...
Thank you hmaoui for taking the time to answer my noobish questions. This clarifies a lot.
"The trend is your friend, until the end, when it bends"
  • #1,194
  • Dec 11, 2013 7:12am Dec 11, 2013 7:12am
Here is a trade I made yesterday on AUDUSD
1H and 15M was up nice EMA spread, RSI 21 up (over 50), the entry was on the 5M at red vertical line.
5M was up, nice EMA spread, RSI 21 up (over 50), Sto and RSI 5 under 50 (pullback confirmed).
1 thing that I was not sure when I took this trade is that Sto and RSI 5 on 1H and 15M ware overbought (posible pullback start on 1H). Was I right on this? But i entered on M5 anyway to see what happens with 2 trades, closing 1 just before RN, moved the other at breakeven +1 and TS 10 pips.
See charts below
Attached Image (click to enlarge)
Click to Enlarge Name: audusdh1.png Size: 99 KB

Attached Image (click to enlarge)
Click to Enlarge Name: audusdm15.png Size: 88 KB

Attached Image (click to enlarge)
Click to Enlarge Name: audusdm5.png Size: 78 KB
"The trend is your friend, until the end, when it bends"
  • #1,195
  • Dec 11, 2013 7:33am Dec 11, 2013 7:33am
And today 2 trades on USDCAD. Closed 1 manualy before S1 and because of big spread (3 pips), and moved SL at breakeven and TS of 10pips the other.
I know I should wait and see what happens at S1 but I was at PC so i could manage it manualy.
Attached Image (click to enlarge)
Click to Enlarge Name: usdcadh1.png Size: 152 KB

Attached Image (click to enlarge)
Click to Enlarge Name: usdcadm15.png Size: 122 KB

Attached Image (click to enlarge)
Click to Enlarge Name: usdcadm5.png Size: 91 KB
"The trend is your friend, until the end, when it bends"
  • #1,196
  • Dec 11, 2013 7:47am Dec 11, 2013 7:47am
USDCHF and EURCHF looks nice on 1H 4H even on Daily but we are now in a range. But after the calm comes the storm right?
Attached Image (click to enlarge)
Click to Enlarge Name: usdchfh1.png Size: 101 KB

Btw if you guys are wondering why my screnshoots looks diffrent is because this is my spoting template
"The trend is your friend, until the end, when it bends"
  • #1,197
  • Dec 11, 2013 1:49pm Dec 11, 2013 1:49pm
Here are charts very interesting from this afternoon (Paris Time). Many traders (students from my classroom) took this trade too ! It was the same that the trade on E/Y yesterday ! We have a correction with price under EMAs and ST EMAs under LT EMAs on 1h, the same thing on 15min with a nice pullback composed by a doji and confirmed by stochastics for momentum. I then went on 5 min and 1 min charts and took a pullback. I add to my initial position because of a safe movement on 15min chart and nice pullbacks on 1 min. 3 entries were enough to get 1375 pips....Patience is really worth it ! That is the lesson of the day I think, dont you ?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Image1.png Size: 106 KB
Click to Enlarge Name: GBPJPY15.jpg Size: 343 KB
Click to Enlarge Name: GBPJPY1.jpg Size: 363 KB
  • #1,198
  • Dec 12, 2013 2:08am Dec 12, 2013 2:08am
Quoting hmaoui
Here are charts very interesting from this afternoon (Paris Time). Many traders (students from my classroom) took this trade too ! It was the same that the trade on E/Y yesterday ! We have a correction with price under EMAs and ST EMAs under LT EMAs on 1h, the same thing on 15min with a nice pullback composed by a doji and confirmed by stochastics for momentum. I then went on 5 min and 1 min charts and took a pullback. I add to my initial position because of a safe movement on 15min chart and nice pullbacks on 1 min. 3 entries were enough to get...
Respect
"The trend is your friend, until the end, when it bends"
  • #1,199
  • Dec 13, 2013 6:46am Dec 13, 2013 6:46am
Hi all !

my first post here.
My trade on EJ this morning during London.
+ 29.7 (with 9 pips SL) for R:R>3

Merci beaucoup hmaoui d'avoir créé cette discussion sur FF !!!

Take care
dom
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURJPY,M1.png Size: 23 KB
Click to Enlarge Name: EURJPY_M1-2.png Size: 2 KB
  • #1,200
  • Dec 14, 2013 12:57pm Dec 14, 2013 12:57pm
Quoting BorisViven
Hi all ! my first post here. My trade on EJ this morning during London. + 29.7 (with 9 pips SL) for R:R>3 Merci beaucoup hmaoui d'avoir créé cette discussion sur FF !!! Take care dom {image} {image}
Hi Boris and welcome on my thread ! Thank you for your congratulations. Nice to see that the french touch is also appreciate in trading lol

Je reste en anglais car le forum est anglophone, mais ça fait plaisir d'être lu par un français :-). On pourra peut-être rester en contact plus facilement et pourquoi pas se voir à une occasion (salon du trading ou autre ?).
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