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Attachments: When Price is UP, buy; when Price is Down, sell short...
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When Price is UP, buy; when Price is Down, sell short...

  • #721
  • Feb 23, 2016 10:58pm Feb 23, 2016 10:58pm
Quoting chiru13
Hi Sunshine, I couldn't manage to execute trades on forex demo account due to my day job which is going beyond day job!!! Your method has improved my way of reading the charts, but i think I still need to work my part to manage and stick to good trades n leave out weak trades. Have another Question, how do you determine to trade some pairs only among all the Pairs which already satisfy M+D1 Or W+H4? I think this is the most critical part of your trading, otherwise we would caught up with some pair which becomes choppy whereas some other pair becomes...
hello chiru

apologies for the delay in answering u, i was a bit pre-occupied with getting our last born settled into his chosen career. he wants to be an aviator, more commonly known as a pilot. but i did manage to take some trades, please checkout the the charts that follows this post...hope it brings more questions to mind bcz i changed my strategy which includes entry & SL placement as well as holding period

i thank u or your kind words.

i want to come back later to answer your questions about pair selection and choppy markets.
  • #722
  • Feb 23, 2016 11:22pm Feb 23, 2016 11:22pm
Quoting Scrabie
{quote} I`m sorry for my late respond, had no time last week. Charts are very clearly to understand. Just to clarify, (please look at attached charts) you are adding postion after bullish bar in downtrend. Is it correct? In other words you are selling breakup from recent LSL? Today I have started to use line chart instead of candlestic. It feels a little better, but still I have to hang around it to fully transfer from candlesticks to line. Whats your opinion on that? I know that you were using line charts on higher tf, but for lower tf it should...
hi scrabie u welcome,

u say that u attached a chart but there is none visible...?

yes, correct, sometimes i will enter after a bullish bar on the Dly but looking at the 4hrs there may be a short signal. as i mentioned to chiru in my last post, i have changed the strategy slightly...stay tuned i shall show the changes and for the results u can look at the next few charts that i will post.

u can use Line chart & candlesticks side-by-side, just open another chart of the same pair that u examining...mark the LSL's on Line chart and look for bearish bar on the other chart, enter when candle signal is complete.

i suggested approaching the higher tf first with a Line chart, mark off the LSL for shorts & LSH for buys...if higher tf weekly or monthly candle closed below or above that swings then drop down to lower tf and execute the trade.

if the last monthly candle closed up BUT the last weekly candle closed down then u have a few options:

  1. trade on the entry signals in Daily, or
  2. trade only the entry signals in 4hrs, or
  3. trade both signals from the Daily & 4hrs.
  4. for this 4th option i will explain later, but for now checkout the charts in the next post, note the moving averages please.

  • #723
  • Feb 23, 2016 11:26pm Feb 23, 2016 11:26pm
some open trades of which i may close all or some after this post. some trades were opened last week but the majority of trades were opened this week.
all shorts, GBPUSD, EURUSD & GBPJPY.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD+EURUSD+GBPJPY shorts midwk Wed24Feb.png Size: 54 KB
  • #724
  • Feb 23, 2016 11:44pm Feb 23, 2016 11:44pm
and here are 3 more pairs. please note i may close some or all after this post or i may add more shorts. the Dly of the CADJPY especially looks really good for more downside,
different tf's
all shorts, CADJPY & EURJPY & USDJPY... these are pairs i do not normally trade but i could not refuse their invitation .
Attached Image (click to enlarge)
Click to Enlarge Name: CADJPY+EURJPY+USDJPY short wed24Feb.png Size: 48 KB
  • #725
  • Feb 23, 2016 11:58pm Feb 23, 2016 11:58pm
wild card USDZAR is most volatile. i entered a few trades, some shorts are in loss still but short trade direction are still good. the earlier buy were stopped out for a loss.
the spread can range from 10 pips [100 points] to more than 25 pips and longs get penalised heavily because of the interest rate, called swaps.
Attached Image
  • #726
  • Feb 25, 2016 1:15am Feb 25, 2016 1:15am
some open trades on 4 pairs with the GBP as a base, all shorts except the 2 leftmost pairs, GBPUSD & GBPJPY, that have a buy each.
the buys are based on 4hr LSH signals, i entered too early before the 4hr bar completed with the result that the GBPJPY 4hr bar did not close above its LSH.

with the exception of GBPNZD, the other 3 pairs, GBPUSD+GBPJPY+GBPAUD all have a M+Dly combo with a shorting Bias.
the Green arrows indicate the Monthly Trading Bias and when the week opens with the most powerful Reversal Candlestick {big green arrow} then we know for sure are trading bias is correct.

Attached Image (click to enlarge)
Click to Enlarge Name: GBP pairs 25wedFeb.png Size: 52 KB


the white arrow indicate LSL's on the GBPNZD and this is also the reason why i was short from last week in this pair.
Attached Image
  • #727
  • Feb 25, 2016 10:57am Feb 25, 2016 10:57am
Quoting sunshine
{quote} hello chiru apologies for the delay in answering u, i was a bit pre-occupied with getting our last born settled into his chosen career. he wants to be an aviator, more commonly known as a pilot. but i did manage to take some trades, please checkout the the charts that follows this post...hope it brings more questions to mind bcz i changed my strategy which includes entry & SL placement as well as holding period i thank u or your kind words. i want to come back later to answer your questions about pair selection and choppy markets....
That's really a great career to choose and its fascinating to many of us.
Seems like you have started filtering the entries differently especially when there is a conflict in MN and Weekly bars.
Its interesting to monitor your trades!
  • #728
  • Mar 1, 2016 12:29am Mar 1, 2016 12:29am
Quoting chiru13
{quote} That's really a great career to choose and its fascinating to many of us. Seems like you have started filtering the entries differently especially when there is a conflict in MN and Weekly bars. Its interesting to monitor your trades!
hi chiru
yes i do hope so although i wasn't keen on the idea because i was looking further down the road when the marriage, wife and children phase should enter his life but being a believer in a Incomparable and Majestic God, i know that his path and sustenance is written for him and that each and every child come into this world with his/her own sustenance written for him/her, therefore, all we as parents can do is to guide, protect, teach and assist. but it is going to cost us as parents a cool half a million and more to get him to his Commercial Pilot Licence after which we do hope he will be able to earn his way.

​we as parents have as a guide the teachings of the prophet of Islam (saw) or it could have been his cousin Ali (ra) that said the following:

  1. ​for the 1st 7 years of the child's life, play with him,
  2. the next 7yrs, teach him, and
  3. the next 7years become his friend.

we are in that last phase right now and we are actively cultivating friendship for the last 4 years, and all i can say, is that it is such a heartwarming pleasure to me as a father that your son will actively seek u out to just talk or to relate what happened and what he learned during the course of the day and to ask u for advice on other matters too.

sorry to bother u with all that but i do believe that since no child comes with a manual into this world i really wanted to convey a few general guidelines on our relationship as parents {foster parents and guardians} with our children and those of our family, relatives and friends and even strangers.

so just as in trading and investing, we need to have general guidelines and criteria to govern our behaviour when scouting for trades and once in a trade new guidelines are necessary to minimise damage to our capital account and straighten our equity curve gently.

ok enough of that... yes u are correct...when there is conflict in the M & W tf's then i advise to either stand aside or trade the 4hrs.
however, recently i found that i am drifting to the once a day trade management, so from now on u may be seeing more and more daily chart entries with direct bearing on the M+D combo. also u will notice the SL placement is much wider than usual.

  • #729
  • Mar 1, 2016 1:33am Mar 1, 2016 1:33am
hi Sunshine, as at this morning EURAUD monthly-up,weekly-down,daily down,4hr had gone choppy,but down presently,am i right?
  • #730
  • Mar 1, 2016 2:02am Mar 1, 2016 2:02am
Quoting timilehin
hi Sunshine, as at this morning EURAUD monthly-up,weekly-down,daily down,4hr had gone choppy,but down presently,am i right?
Hello timilehin,

CORRECTION: the Monthly is DOWN, please check again...last month, February closed down, can u see it on your charts ?
yes correct at the time of your writing the 4hrs has given its dwn signal and price is following.
below is my Dly chart of the pair...EURAUD ...M+Dly combo=dwn, so shorts rule.
Attached Image
  • #731
  • Mar 1, 2016 2:14am Mar 1, 2016 2:14am
hi Sunshine,needed to clarify something,is your definition of month down is when line chart makes a downward angle,bcos i can see the last high was broken up monthly,so i assume its up
  • #732
  • Mar 1, 2016 2:18am Mar 1, 2016 2:18am
Quoting timilehin
hi Sunshine, as at this morning EURAUD monthly-up,weekly-down,daily down,4hr had gone choppy,but down presently,am i right?
here is the Monthly chart.

  1. last month closed down, see the green down arrow above that month, February, that closed down.
  2. so the M+Dly combo will read down, i.e. for this new month of March, we will only be shorting when using this M+Dly strategy.
  3. i have switched from trading mainly Weekly+4hr combo to the longer M+D combo due to time constraints. so from now on u will mostly see Dly charts.

​

Attached Image
  • #733
  • Mar 1, 2016 2:28am Mar 1, 2016 2:28am
Quoting timilehin
hi Sunshine,needed to clarify something,is your definition of month down is when line chart makes a downward angle,bcos i can see the last high was broken up monthly,so i assume its up

  1. the month is down when it actually closed down(red)
  2. in this instance the month of february closed down,
  3. february closed red,
  4. that means for the new month of march we will only be looking for short sell signals in the Daily timeframe,
  5. in other words, in the Dly tf, a down day will signal a short entry especially after an up day.
  6. please note:: this method and strategy has nothing to do with how high or how low price went or if it made a new high and/or a new low.

​i do hope it is clear now.

  • #734
  • Mar 1, 2016 2:35am Mar 1, 2016 2:35am
current shorts on M+D combo, 3 x Yen pairs.
EURJPY & CADJPY & USDJPY all of which is at this moment in a loss. price is moving against my positions.
Attached Image (click to enlarge)
Click to Enlarge Name: CADJPY+USDJPY+EURJPY shorts M+D tues 01 Mar.png Size: 42 KB
  • #735
  • Mar 3, 2016 11:47pm Mar 3, 2016 11:47pm
those last posted trades above are underwater.
the CADJPY trades resulted in loss. now why was that ??? i know i ignored the fact that price closed above its Dly LSH.

here are some current trades. the GBPUSD + EURJPY + GBPJPY.

...as can be seen on the charts i did NOT ignore the LSH closes, the buy entry of EURJPY was initiated this morning when yesterday CLOSED above its LSH.
just a reminder, although price closed above its LSH, the M+D trend is still down. i am simply taking advantage of the rally in the lower tf.
...the long of the GBPUSD was entered yesterday, Tuesday, and today i moved the SL to just above the entry. This was also my signal to close 3 shorts that were in profit for a total of almost 680 pips profit.
...the buy of the Geppy was entered on Monday before the bar completed and today i moved to lock-in gains.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD+EURJPY+GBPJPY long&short friday04march.png Size: 54 KB
  • #736
  • Mar 3, 2016 11:59pm Mar 3, 2016 11:59pm
be careful today, the puppet masters are out in full later today for the USD.
also CAD red news later.
  • #737
  • Mar 5, 2016 1:44am Mar 5, 2016 1:44am
let's do some trade analysis of a few pairs so that we may get a an idea of which way to trade for the coming week
or, does anyone have a request for a specific pair or pairs ?
even pairs or commodities that we not normally trade is welcome.
i will present a clean chart without any of my trades on it in an attempt not to cause a distraction.
  • #738
  • Mar 5, 2016 2:07am Mar 5, 2016 2:07am
i got some free time so, i was thinking maybe we can start the ball rolling by doing hindsight analysis of 3 pairs all with the CAD as counter party,
like the USDCAD+EURCAD+GBPCAD...anyone interested ? if not, then i won't bother.
  • #739
  • Mar 5, 2016 2:11am Mar 5, 2016 2:11am
or what about currencies with the Yen as the counter party...
or pairs that have the Cable as base currency ?
  • #740
  • Mar 5, 2016 5:38am Mar 5, 2016 5:38am
Quoting sunshine
i got some free time so, i was thinking maybe we can start the ball rolling by doing hindsight analysis of 3 pairs all with the CAD as counter party, like the USDCAD+EURCAD+GBPCAD...anyone interested ? if not, then i won't bother.
Yes pls on all. Been a bit quiet of late me that is
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