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More simple is impossible

  • #6,601
  • Apr 12, 2016 5:46pm Apr 12, 2016 5:46pm
Quoting JoshuaHope
Hi all. I won't be posting or trading over the next few weeks. I have decided to try and observe the market, following the advice passed on to PhillipineFX from Dee. There is no doubt that my trading has improved since i have dedicated to this thread. It is actually the only thread i follow now. My hope is to see the "rhythm" of the market and understand it...or more importantly how to profit from it consistently. Best, Josh
By all means post....let us know what you see and any changes in your thinking....It would be as valuable to the thread as any chart...
  • #6,602
  • Apr 12, 2016 9:53pm Apr 12, 2016 9:53pm
Here you go Dee50

This is a great example of the use of the Quartile though I wish it would happen everyday.

I trade 5% per Quartile so it doesn't matter whether they are 5 pips apart or 50 pips apart the results are the same.

I look for the trend line break preferably in the direction of the daily candle. Entry on the close of a break..initial stop is below the lower trend line and is most often less than the 5% risk.

On the chart below you see the larger (red) move, made me far less money than the much smaller (blue) move. The red was about 5% profit whilst the blue was 45% profit. You can keep trading like this all day long, if you can keep your eyes open.

It is not the number of pips people make, it is what you do with them. Pips are just the chart measurement not your account. Someone tells you they made X amount of pips then it is just a meaningless statement.

To tell you the truth I cannot for the life of me work out what the charts on this thread are telling me but they certainly look pretty I just hope they are making people money. I thought this thread was about simple methods but what do I know.

I just added a new (green) entry on the chart but haven't traded it cos I was writing this.
Attached Image (click to enlarge)
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  • #6,603
  • Apr 12, 2016 11:13pm Apr 12, 2016 11:13pm
Quoting Nala66
Here you go Dee50 This is a great example of the use of the Quartile though I wish it would happen everyday. I trade 5% per Quartile so it doesn't matter whether they are 5 pips apart or 50 pips apart the results are the same. I look for the trend line break preferably in the direction of the daily candle. Entry on the close of a break..initial stop is below the lower trend line and is most often less than the 5% risk. On the chart below you see the larger (red) move, made me far less money than the much smaller (blue) move. The red was about 5%...
I like the simplicity, even if you are not a Renko trader, it would be great if you posted here more often
Invincibility lies in the defence; the possibility of victory in the attack
  • #6,604
  • Apr 12, 2016 11:36pm Apr 12, 2016 11:36pm
Quoting BBalazs
{quote} I like the simplicity, even if you are not a Renko trader, it would be great if you posted here more often
Yep BBalazs it seems to me most people like to keep things simple and as long as it continues to work for folks then there is no need to change a thing.

This doesn't mean we cannot always improve ourselves in some way or other and understanding other peoples methods can often prove of some value to our own. This is why I read the stuff in the forums, for self improvement. Whether or not people use Renko charts, bars, line or candles does not matter in the least. What concerns me is the structure of the trade i.e. Stops, entries, targets i.e. SET because to me if there is no SET there is no trade.

I look at many of the charts in these threads and all I see is something that should be hung in an art gallery for goodness sake. Match this with the corresponding jargon and I am lost. All I want to see is the structure of a single trade and the reasoning behind it, not just a pretty picture. Maybe it is me and I am just too thick to understand what is going on in the real world isolated as I am with my PC.
  • #6,605
  • Apr 13, 2016 12:40am Apr 13, 2016 12:40am
Here is my chart in all its glory but I read more into the chart than what you see here.

For instance the resistance is broken and the support is holding. A test line (not trend line) has been broken.

I still don't know if the trade is going to work for me, one cannot be that sure else we wouldn't need stops.

On the chart you see my simple but very effective SET...Stop, Entry and Target.

We can work out the math in advance because the swings show us how wide the Quartile is, so we can be ready to click the precise entry.
Attached Image (click to enlarge)
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  • #6,606
  • Apr 13, 2016 1:58am Apr 13, 2016 1:58am
Quoting Nala66
Here is my chart in all its glory but I read more into the chart than what you see here. For instance the resistance is broken and the support is holding. A test line (not trend line) has been broken. I still don't know if the trade is going to work for me, one cannot be that sure else we wouldn't need stops. On the chart you see my simple but very effective SET...Stop, Entry and Target. We can work out the math in advance because the swings show us how wide the Quartile is, so we can be ready to click the precise entry. {image}
As far as I can tell, you are looking for a TL break in the direction of the trend, if the price goes below the MA, am I right? Sound simple enough. In my opinion, as long as you are shooting for more than your original risk and trade with the trend, you can use any entry method of your preference.

My trading is simple really, although the charts are really colorful Wait for a trend, trade the correction. Simple.
Invincibility lies in the defence; the possibility of victory in the attack
  • #6,607
  • Apr 13, 2016 2:17am Apr 13, 2016 2:17am
That is correct, however the difference is I know what lot size to use to get the desired result and the distance it is likely to go.

Just using trend line breaks is fine but where is it going and how much should you risk and where are the stops to be put and when do you close and which trend line should you use.

You see where my trend line cuts the Quartile at about the 50% level (middle), this is part of the setup. This is typically where we would also find an AB = CD which produces a risk reward of about 1 : 4. This mid point would be C.

Now I have a question for you... What difference does it make to use Renko charts, if any? I can see they look very neat and tidy, is that why you use them?
  • #6,608
  • Apr 13, 2016 2:25am Apr 13, 2016 2:25am
Quoting Nala66
That is correct, however the difference is I know what lot size to use to get the desired result and the distance it is likely to go. Just using trend line breaks is fine but where is it going and how much should you risk and where are the stops to be put and when do you close and which trend line should you use. You see where my trend line cuts the Quartile at about the 50% level (middle), this is part of the setup. This is typically where we would also find an AB = CD which produces a risk reward of about 1 : 4. This mid point would be C. Now...
That's part of the reason. It makes it easier for me to see swing highs and lows. More importantly however, with renko charts, I always know my precise entry point, and my risk. There are no sudden candle movements which I hate most about candlestick charts. I stopped counting how many times I was left hanging waiting for the candle to close and in the last few seconds, it shot up or down making me to either skip the trade, or enter at a less favorable price. Ever since I use renko, I never looked back. I don't say that one charting method is better than the other, just renkos and range bars suits me better.
Invincibility lies in the defence; the possibility of victory in the attack
  • #6,609
  • Apr 13, 2016 2:27am Apr 13, 2016 2:27am
Quoting PhilippineFX
{quote} By all means post....let us know what you see and any changes in your thinking....It would be as valuable to the thread as any chart...
I will PhilippineFX, as soon as I make some progress. Thank you.
  • #6,610
  • Apr 13, 2016 3:41am Apr 13, 2016 3:41am
I guess that is what I am asking then BBalazs What are those precise entry points you speak of and what is the risk based upon.

I am guessing the entry is associated with the direction change and the stop would be below/above that same point. Thus keeping it simple and trying to get a reward greater than the risk.
  • #6,611
  • Apr 13, 2016 4:13am Apr 13, 2016 4:13am
Quoting Nala66
Here is my chart in all its glory but I read more into the chart than what you see here. For instance the resistance is broken and the support is holding. A test line (not trend line) has been broken. I still don't know if the trade is going to work for me, one cannot be that sure else we wouldn't need stops. On the chart you see my simple but very effective SET...Stop, Entry and Target. We can work out the math in advance because the swings show us how wide the Quartile is, so we can be ready to click the precise entry. {image}
hello nala this quartile system seems interesting ...did you ever try it with crude oil?
  • #6,612
  • Apr 13, 2016 5:00am Apr 13, 2016 5:00am
Quoting Nala66
Here you go Dee50 This is a great example of the use of the Quartile though I wish it would happen everyday. I trade 5% per Quartile so it doesn't matter whether they are 5 pips apart or 50 pips apart the results are the same. I look for the trend line break preferably in the direction of the daily candle. Entry on the close of a break..initial stop is below the lower trend line and is most often less than the 5% risk. On the chart below you see the larger (red) move, made me far less money than the much smaller (blue) move. The red was about 5%...
Thanks, already worked it out. S&R zones broken down into quartiles, Trend line break for entry, it's another variation on a theme.

I can understand your obvious frustration, you come to a thread that started with a very simple Price Crosses the Line, Enter method which degenerates into a method requiring a degree in Chaos Theory that's why I was wondering if you
had considered starting your own thread because it must be very difficult for you to find any threads here on FF for you to post on, although there are a number of Clean Chart / Naked chart threads that would probably suit you better, particularly as you have such strong none complimentary views about other peoples styles.
Cut your Losers short and let your Winners run.
  • #6,613
  • Apr 13, 2016 5:11am Apr 13, 2016 5:11am
Quoting Nala66
Here is my chart in all its glory but I read more into the chart than what you see here. For instance the resistance is broken and the support is holding. A test line (not trend line) has been broken. I still don't know if the trade is going to work for me, one cannot be that sure else we wouldn't need stops. On the chart you see my simple but very effective SET...Stop, Entry and Target. We can work out the math in advance because the swings show us how wide the Quartile is, so we can be ready to click the precise entry. {image}
do draw a quartile for the last swing then wait for trendline break then put stop 1 quartile below your bar and profit 2 quartiles above your bar. how do you confirm the price action before entering???
  • #6,614
  • Apr 13, 2016 8:25am Apr 13, 2016 8:25am
I am going to short the dax leave it and see what happens
  • #6,615
  • Apr 13, 2016 10:44am Apr 13, 2016 10:44am
Quoting bettervolume
I am going to short the dax leave it and see what happens
OOps!
Cut your Losers short and let your Winners run.
  • #6,616
  • Apr 13, 2016 10:49am Apr 13, 2016 10:49am
GER30+40+24+5+9+5+35+5+16+5+10+5+43. All the +5s are partial TPs, PA got so scrappy that I thought I would at least bag some pips before getting stopped for BE, having made that decision it only happened once, still, at least I now know how to set up the TM for partials.
Attached Image (click to enlarge)
Click to Enlarge Name: GER30+40+24+5+9+5+5+35+16+5+10+5+43 130416.png Size: 44 KB
Cut your Losers short and let your Winners run.
  • #6,617
  • Apr 13, 2016 10:50am Apr 13, 2016 10:50am
Quoting dee50
{quote} OOps!
Yeh, damm, looking for a drop myself, goes against all the laws of trading.
  • #6,618
  • Apr 13, 2016 10:51am Apr 13, 2016 10:51am
Was there a gap up earlier today or is it my data just missing ?
  • #6,619
  • Apr 13, 2016 11:00am Apr 13, 2016 11:00am
Quoting Pinkas
{quote} Yeh, damm, looking for a drop myself, goes against all the laws of trading.
Have to admit I was thinking it would drop as well!!, but, it just kept bouncing off that 38.2% level which on the HTFs was also a major S&R level 9976 - 9980, also, on the 10 pip chart it was creating a Bullish Flag.

Trade what you see not what you think.
When in doubt wait for the turn.
Cut your Losers short and let your Winners run.
  • #6,620
  • Apr 13, 2016 11:02am Apr 13, 2016 11:02am
Quoting Pinkas
Was there a gap up earlier today or is it my data just missing ?
.
Attached Image (click to enlarge)
Click to Enlarge Name: GER30H1 Gap 130416.png Size: 53 KB
Cut your Losers short and let your Winners run.
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