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Simple "Make Pips" Strategy

  • #61
  • Nov 11, 2014 8:46am Nov 11, 2014 8:46am
Quoting S_Ferrer
Interesting stuff Simoneg + subscribed I took this on the UCad {image} I guess we're trying to ride the retracement back down? (or at least take some crumbs from the table on the way?) {image}
Thanks S_Ferrer!
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  • #62
  • Nov 11, 2014 3:31pm Nov 11, 2014 3:31pm
Last trade for the day +5pips on GJ...
Attached Image (click to enlarge)
Click to Enlarge Name: gjlong.png Size: 19 KB
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  • #63
  • Nov 11, 2014 6:16pm Nov 11, 2014 6:16pm
Quoting simoneg
Last trade for the day +5pips on GJ... {image}
So it looks like you are trading a rally with a pull back then scalping in the original direction. Or in the case of the longer term trades going for higher targets.
Would you have taken the doji bars in that rally up on your chart? Are those generally the type of second bars you are looking for but blue to confirm the continuation?

Mike
  • #64
  • Nov 12, 2014 3:22am Nov 12, 2014 3:22am
Quoting mikeh3855
{quote} So it looks like you are trading a rally with a pull back then scalping in the original direction. Or in the case of the longer term trades going for higher targets. Would you have taken the doji bars in that rally up on your chart? Are those generally the type of second bars you are looking for but blue to confirm the continuation? Mike
Hi mikeh3855,

The 2 blue bars was the first thing that I saw. What made it easier to take the trade was that the trend was up on the higher times. I don't look for a particular type of bar. Just two consecutive bullish or bearish, that's all.

If you look at the principle behind the system you will be able to spot very strong moves for entry. Two consecutive closes in the same direction is very significant. The midpoint between those creates very strong s&r. Two consecutive bearish bars will generally mean continued selling when the close price of the first bar remains as resistance, but what if there is a close above this price? Will it still be resistance? NO, it will no mean old resistance has become new support. What will then be the likely reaction? Buying of course. Look at this GJ reversal and all the previous SELL levels which I have marked with a horizontal line. Look at how the NEW TREND reacted to these levels giving great entry points.
Attached Image (click to enlarge)
Click to Enlarge Name: example.png Size: 20 KB
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  • #65
  • Nov 12, 2014 3:28am Nov 12, 2014 3:28am
I just took this long trade on the GJ since posting this chart. Will see how it works out. Already up 20pips. Its two setups here, rejected sell setup and a new buy setup almost at the same price.
Attached Image (click to enlarge)
Click to Enlarge Name: gjswing.png Size: 17 KB
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  • #66
  • Nov 12, 2014 4:37am Nov 12, 2014 4:37am
Quoting simoneg
I just took this long trade on the GJ since posting this chart. Will see how it works out. Already up 20pips. Its two setups here, rejected sell setup and a new buy setup almost at the same price. {image}
stopped +1pip, but hope you get the idea
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  • #67
  • Nov 12, 2014 6:29am Nov 12, 2014 6:29am
Quoting simoneg
{quote} Hi mikeh3855, The 2 blue bars was the first thing that I saw. What made it easier to take the trade was that the trend was up on the higher times. I don't look for a particular type of bar. Just two consecutive bullish or bearish, that's all. If you look at the principle behind the system you will be able to spot very strong moves for entry. Two consecutive closes in the same direction is very significant. The midpoint between those creates very strong s&r. Two consecutive bearish bars will generally mean continued selling when the close...

Thanks much. Much clearer.
  • #68
  • Nov 12, 2014 6:35am Nov 12, 2014 6:35am
Quoting mikeh3855
{quote} Thanks much. Much clearer.
No problem Mike!
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  • #69
  • Nov 12, 2014 8:45am Nov 12, 2014 8:45am
Very simple long setup on NZDJPY
Attached Image (click to enlarge)
Click to Enlarge Name: NJLong.png Size: 15 KB
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  • #70
  • Nov 12, 2014 8:47am Nov 12, 2014 8:47am
Quoting simoneg
I just took this long trade on the GJ since posting this chart. Will see how it works out. Already up 20pips. Its two setups here, rejected sell setup and a new buy setup almost at the same price. {image}

the marked one is a sell right ? after that a buy that are in problem because of the red candle ?


Best regards
  • #71
  • Nov 12, 2014 8:50am Nov 12, 2014 8:50am
Quoting jgadefelth
{quote} the marked one is a sell right ? after that a buy that are in problem because of the red candle ? Best regards

Hi jgadefelth,

Please read the post before the one you are quoting to better understand what I was explaining.
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  • #72
  • Nov 12, 2014 8:57am Nov 12, 2014 8:57am
Double long setup on AJ. The sell setup was risky given the daily and H4 trend, even though, if taken you would have made few pips.
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Click to Enlarge Name: ajl.png Size: 17 KB
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  • #73
  • Nov 12, 2014 9:28am Nov 12, 2014 9:28am
Found this on another forum for Binary Options, similar strategy as the one here:

http://www.binaryoptionsedge.com/ind...ding-strategy/
  • #74
  • Nov 12, 2014 9:31am Nov 12, 2014 9:31am
Quoting dim13
Found this on another forum for Binary Options, similar strategy as the one here: http://www.binaryoptionsedge.com/ind...ding-strategy/
Wow interesting! That should solidify some things.
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  • #75
  • Nov 12, 2014 10:50am Nov 12, 2014 10:50am
good stuff just make 20 pips on 4 pairs now.

gbpusd 5pips, eurgbp 5pips ,eurusd 5pips and usdchf 5pips . altogether 20 pips under 30 minute . thanks simoneg
  • #76
  • Nov 12, 2014 10:53am Nov 12, 2014 10:53am
Quoting lecoon2003
good stuff just make 20 pips on 4 pairs now. gbpusd 5pips, eurgbp 5pips ,eurusd 5pips and usdchf 5pips . altogether 20 pips under 30 minute . thanks simoneg
Nice trading lecoon2003!
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  • #77
  • Nov 12, 2014 10:53am Nov 12, 2014 10:53am
Quoting lecoon2003
good stuff just make 20 pips on 4 pairs now. gbpusd 5pips, eurgbp 5pips ,eurusd 5pips and usdchf 5pips . altogether 20 pips under 30 minute . thanks simoneg

Great post some charts please.

Best regards
  • #78
  • Nov 12, 2014 10:57am Nov 12, 2014 10:57am
Also am checking another 7 pairs to trade within next 10 minute will update the result later. the pairs are :-

USDCHF---- BUY , EURUSD-- SELL ,USDJYP--- BUY ,USCAD---BUY , AUDUSD--SELL , EURGBP-- SELL , GBPUSD-- SELL, NZDUSD ---SELL all in 1 hr.

thanks
  • #79
  • Nov 13, 2014 1:52am Nov 13, 2014 1:52am
Simoneg,
A clear case of thinking outside the box. I have watched this on several pairs & see it has much merit.
I like the simplicity of the method. Thank you for sharing. Good trades to you.


ForexSamsam,
If you would code an indicator to mark these areas that would be great. They are easy to spot without
the indicator, but the indicator would be most helpful. Thank you for your consideration into coding an indicator.

_____________________________
  • #80
  • Nov 13, 2014 4:04am Nov 13, 2014 4:04am
Quoting simoneg
{quote} SHORT when there are TWO CONSECUTIVE BEARISH BARS and the SECOND closes WITH a LOWER CLOSE PRICE Do you mean that the second bar simply needs to be another bearish bar? Or does the close need to be toward the low of the candle? No, I had addressed this question in an earlier post. There must be two consecutive bearish bars AND the second MUST have a lower close price than the first. Remember than GAPS in the market price can permit a different picture, so this is important. LONG when there are TWO CONSECUTIVE BULLISH BARS and the SECOND...
simoneg, i have also difficulty understanding what you mean the SECOND closes WITH a LOWER CLOSE PRICE. I think if there is 2 bearish bars, the second bar's close is always lower than the 1st bar. If not, then its not a bearish bar. Am i right?
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