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Attachments: Simple "Make Pips" Strategy
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Simple "Make Pips" Strategy

Quoting Eod
{quote} no, sorry, i'm not coder............. but i'm looking for it.....
ok
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Hi Simoneg,
I like your methodfor its simplicity.I have a few questions if you don't mind.
Do you take set ups during slow hours or only when the market is active?
You seem to prefer JPY pairs for this method but I guess anypair with enough liquidity is fine, is that right?
When you get more consecutive bars in one direction do you trade the first 2 and trail SL or you pyramid on every bar following in the same direction, or select 2 bars that fit some other criteria like size,shape, at S/R etc
I will post a chart of USDCAD that shows a possible set up the way I see it. I would like to hear your comments.
Recent trend is down. P retraced to the close of the first bearish bar inthe box. Aggressive entry would be with limit order at the line. More conservative would be to wait for 2 consecutive bearish bars on lower TF and the sell. Now the D candle is not closed yet, if it closes above the line then we have bullish set up on daily and we wait for retrace to the line and we would be looking to buy. Is that basically your concept?
Thanks
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This is a bit off topic. Could anyone tell me how to draw objects and insert text on Oanda chart? There were posted Oanda charts wit boxes, arrows and other stuff drawn on them. Thanks in advance!
ponchofx
Quoting ponchofx
This is a bit off topic. Could anyone tell me how to draw objects and insert text on Oanda chart? There were posted Oanda charts wit boxes, arrows and other stuff drawn on them. Thanks in advance! ponchofx
Hi ponchofx,

Have you gotten through with this already? I stopped using Oanda and have totally forgotten how to but wasn't a difficult task. Just browse around a bit.
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Quoting ponchofx
Hi Simoneg, I like your methodfor its simplicity.I have a few questions if you don't mind. Do you take set ups during slow hours or only when the market is active? You seem to prefer JPY pairs for this method but I guess anypair with enough liquidity is fine, is that right? When you get more consecutive bars in one direction do you trade the first 2 and trail SL or you pyramid on every bar following in the same direction, or select 2 bars that fit some other criteria like size,shape, at S/R etc I will post a chart of USDCAD that shows a possible...
Hi ponchofx,

I find the best times to look for setups to be 1:00am to 12:00pm EST.

Also regarding the setups, as you are trading them, that is a swing trading type of an approach. Your setup here, required more testing. The best approach is to wait for a test and a follow through (market moves off in your favor) OR at least two tests, followed by entry.

Take the following USDCAD Daily chart example:
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Also ponchofx, What if a bullish setup is being rejected? How do we approach it? Same principle, allow for testing or testing and follow through.

EURUSD 4hour Example:
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Thank you for your reply!
Yes, I'm trying to stay away from microtrading and smaller TF.
I see what you mean. Basically, you mark your levels on the chart and watch the PA when P gets there
Here is another chart I wanna see if I got it right. EURJPY, uptrend, P is consolidating in a range market and is currently sitting at S which has been tested a few times and there is no close below it on a daily basis.
1. For a long trade what would you do: go to a lower tf (1h, 4h) and enter from there or buy on the beak of yesterday's high, or wait for the daily/weekly roll and go from there.
2. For a short, I woul like to see if P will close below the line and then test it from below. Or if we get a bearish candle with close not far away from yesterday's close does it make sense to enter short since it is second bearish day in a row?
ponchfx
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Quoting ponchofx
Thank you for your reply! Yes, I'm trying to stay away from microtrading and smaller TF. I see what you mean. Basically, you mark your levels on the chart and watch the PA when P gets there Here is another chart I wanna see if I got it right. EURJPY, uptrend, P is consolidating in a range market and is currently sitting at S which has been tested a few times and there is no close below it on a daily basis. 1. For a long trade what would you do: go to a lower tf (1h, 4h) and enter from there or buy on the beak of yesterday's high, or wait for the...
Hi ponchofx, this is a setup that I am currently watching. Yes, watching the PA is key if we are holding for more pips. Using a lower time frame for entry is good. Also the daily close is important. Yesterday again closed above the level so the BUY setup is valid. However, my hesitation is that it is the close of the week. So maybe some funny business can take place, like gapping down etc. So will see today closes to help determine how its poised for next week.
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GM, eurusd daily has similar setup as well...
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I think we should take a seat and watch the Greek drama unfold this weekend. If they don't get a deal or some sort of agreement market could easily gap down 100 pips on Monday and put the beginning of the next major leg south. If they do get a deal (like it's never happened before) Euro may find the strength for a final push toward the highs + possible extension. Good luck to all!
Ponchofx
Thanks for posting your system Simon! So far I've won 5 out of 5 since starting this on demo last week. I will continue testing it.

hi simoneg and all

i have a question

Let's say 2 candles (H1) met the requirement to buy. So, take long trade and let's say TP 5pip on the 3rd candle right?

Then after an hour, the 3rd candle also close bullish and above the 2nd candle close, do we take the long trade on the 4th candle too?

Here is the screenshot
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Quoting Nico1359
Thanks for posting your system Simon! So far I've won 5 out of 5 since starting this on demo last week. I will continue testing it.
Great going Nico1359!
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Quoting gundurowo
hi simoneg and all i have a question Let's say 2 candles (H1) met the requirement to buy. So, take long trade and let's say TP 5pip on the 3rd candle right? Then after an hour, the 3rd candle also close bullish and above the 2nd candle close, do we take the long trade on the 4th candle too? Here is the screenshot {image}
Yes gundurowo! That's how its down on the short term approach!
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  •  Soros
  • Joined Sep 2012 | Status: Edge,Phsycology And Money Managemen | 909 Posts
how long have you been trading this method profitably on live acc?
I am what Many Dream to be but only a few can achieve, im a part of the 1%
Hello, It's been a very long time. Thought I would start sharing a few trades again.

NZDUSD H4 LONG.
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NZDJPY H4 Long plan.

I will take a long at/around the 76.70 area if the current bar closes above.
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welome back!

have you stopped trading since your gone? Or have you trade further?
Everyday better.
Quoting arlucad
welome back! have you stopped trading since your gone? Or have you trade further?
Thank you arlucad! Certainly not, but had some major transitions that kept and are somewhat still keeping me a bit busy.
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Possible bearish setups at 0.6921 on NZDUSD and 76.92 on NZDJPY. So watching these resistance levels at the moment.
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