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Simple, Non-subjective, Consistent, Effective

  • #101
  • Jan 5, 2014 8:37pm Jan 5, 2014 8:37pm
Hello,

I am trying to get a grip on this.
A little confusing, I must admit. The rules are pretty simple but in real life...

I was also looking at EUR/USD. You guys are short on this pair but the weekly trend is clearly UP. Are we not suppose to look at the overall long term trend? Or just take whatever the multimeter gives us?

Which takes me to the next puzzle. The monthly trnd fo this par is red (down). But the month is basically 1 day old! Same for the week. As I am writing this, my week is 4 hours old! You see what i am getting at here. When is the signal valid?

Thanks

Insider
  • #102
  • Jan 6, 2014 1:21am Jan 6, 2014 1:21am
Quoting insider999
Hello, I am trying to get a grip on this. A little confusing, I must admit. The rules are pretty simple but in real life... I was also looking at EUR/USD. You guys are short on this pair but the weekly trend is clearly UP. Are we not suppose to look at the overall long term trend? Or just take whatever the multimeter gives us? Which takes me to the next puzzle. The monthly trnd fo this par is red (down). But the month is basically 1 day old! Same for the week. As I am writing this, my week is 4 hours old! You see what i am getting at here. When...
Please don't overthink this any more than it needs to be. When I put 'Simple' in the title, I meant it. If the rules are simple, so should the practice of them in real life be. At the point of entry, price had broken the past two prev day's lows in a row, followed by the two biggest candles on the chart, two dominant reds that broke and closed below prev week low (excuse the run-on). After that, there was very little bounce-back off of prev week low.

That is plenty enough space and time to trade H4's and H1's. I'm not claiming this is going to be the trade of the century. Conditions were good enough to where I felt the probabilities of that particular entry were in my favor. And the entry was within the rules. That's all. So far so good. I'm not predicting where it will go from here. I will simply follow until that position is disproven. Positions will be added to the stack if it does continue down. If it doesn't, and we start getting engulfs to the long side above daily and weekly open, I will attempt to start a long stack. No predictions involved, only simple trend following.

As for your second question, I'm not sure I see what you're getting at. I believe the rules are stated quite clearly. Buy and sell with D1 direction according to the open. Please correct me if I'm wrong, or if it is unclear.

Attached Image (click to enlarge)
Click to Enlarge Name: 010514 eu direction example.png Size: 40 KB
  • #103
  • Jan 6, 2014 3:24am Jan 6, 2014 3:24am
***UPDATE***

From now on:

Previous Daily Low = PDL
Previous Weekly Low = PWL
Previous Monthly Low = PML

Previous Daily High = PDH
Previous Weekly High = PWH
Previous Monthly High = PMH
  • #104
  • Jan 6, 2014 4:28am Jan 6, 2014 4:28am
Hey guys, What about this EUR/USD 4H long?

Above today's open and nice engulfing...

Attached Image (click to enlarge)
Click to Enlarge Name: EU4.png Size: 61 KB
  • #105
  • Jan 6, 2014 12:26pm Jan 6, 2014 12:26pm
Hello,

is there anyone who has the two little indicators for the Metatrader 5?
  • #106
  • Jan 7, 2014 1:30am Jan 7, 2014 1:30am
Just a simple tool to help remind of rules # 1. and #2. in original first post...
Are you Above or Below today's current open?
Attached File(s)
File Type: mq4 daily_open_line.mq4   2 KB | 680 downloads


Nice thread and following you Ap3...
Cheers!
"You Never Know.....Until You Find Out."
  • #107
  • Jan 7, 2014 1:46am Jan 7, 2014 1:46am
@goldenequity: I know but this files are for the Metatrader 4 and not for the Metatrader 5.
  • #108
  • Jan 7, 2014 2:14am Jan 7, 2014 2:14am
If you wanna make killing winners just add the 92 SMA to your chart. stack longs when above, and short when below.
  • #109
  • Jan 7, 2014 2:38am Jan 7, 2014 2:38am
Quoting attilafx
If you wanna make killing winners just add the 92 SMA to your chart. stack longs when above, and short when below.
uhmm... no thanks.
"You Never Know.....Until You Find Out."
  • #110
  • Jan 7, 2014 3:33am Jan 7, 2014 3:33am
Quoting Galactor
@goldenequity: I know but this files are for the Metatrader 4 and not for the Metatrader 5.

Yes... my post was not in response to your request. sorry if it appears that way... unintended.

but... I will say this... The metatrader 4 v. 5 issues (to me) are not worth the 'upgrade'... why are you using it?
In a perfect world... v.5 should have been backwards compatible with all v.4 indies... but I guess it wasn't possible.
Cheers.
"You Never Know.....Until You Find Out."
  • #111
  • Jan 7, 2014 8:59am Jan 7, 2014 8:59am
Hello AP3,


I like your system. I wanted to ask you have you come across William Dunnigans trading system . It has lots of fundamentals which parallel your approach although it was designed for stocks rather than forex.

regards,

volvo264
  • #112
  • Jan 7, 2014 9:04am Jan 7, 2014 9:04am
Real time trade. USD/CAD to the upside. let's see if it keeps the breakout this hour.
Post real time trades not from the past
  • #113
  • Jan 7, 2014 9:05am Jan 7, 2014 9:05am
Quoting attilafx
If you wanna make killing winners just add the 92 SMA to your chart. stack longs when above, and short when below.
What is the unique thing about the 92 SMA?
  • #114
  • Jan 7, 2014 9:05am Jan 7, 2014 9:05am
Oh here is the current image. Have to wait till this hour closed right?
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot from 2014-01-07 16:05:00.png Size: 22 KB
  • #115
  • Jan 7, 2014 9:15am Jan 7, 2014 9:15am
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 50 KB


Long on this trade
  • #116
  • Jan 7, 2014 11:07am Jan 7, 2014 11:07am
Quoting Ap3
{quote} I certainly encourage you to try if that's something you're curious about. Plenty of ways to make money in this market. Just not here, please. Thank you.
.
  • #117
  • Jan 7, 2014 1:10pm Jan 7, 2014 1:10pm
You can see the EURUSD has been 'stuck' in multiple days of ranging before break outs occur... today was another example.
Don't let it discourage you from this system...
Cheers!

Attached Image (click to enlarge)
Click to Enlarge Name: rangedays.png Size: 34 KB
"You Never Know.....Until You Find Out."
  • #118
  • Jan 7, 2014 2:10pm Jan 7, 2014 2:10pm
Anyone took this 2 4H trades on USD/CAD? I didn't because tey were straight into Daily and Weekly highs... As for the rules am I doing it right or I should have traded those?

Attached Image (click to enlarge)
Click to Enlarge Name: usdcad.png Size: 65 KB
  • #119
  • Jan 7, 2014 2:32pm Jan 7, 2014 2:32pm
Quoting goldenequity
Just a simple tool to help remind of rules # 1. and #2. in original first post... Are you Above or Below today's current open? {file} Nice thread and following you Ap3... Cheers!
Thank you goldenequity.
  • #120
  • Jan 7, 2014 2:33pm Jan 7, 2014 2:33pm
Quoting volvo264
Hello AP3, I like your system. I wanted to ask you have you come across William Dunnigans trading system . It has lots of fundamentals which parallel your approach although it was designed for stocks rather than forex. regards, volvo264
I have not.
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