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Trading is as simple as ABCD

  • #10,081
  • Apr 8, 2016 5:48am Apr 8, 2016 5:48am
Hi there,

just want to share my experience after trying all the advice I got from you. Generally said, if i did all my trades opposite way (instead of buy I sell and vice versa) I would be quite successful trader DD But that gives me a hope - if I able to loose the money, the same way I can earn them - if I decide correctly. For now I'm playing with demo account, so not big deal, but I try to keep it as much realistic as possible (leverage, money on account, time to trade, ...).

To make it simple for learning all the range bars charts I use are M7 with 7pips candles

I recognize my biggest problems:

1. I'm always confused if the point I want to enter is turning point of trend or pullback in the continuing trend

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and then the result
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2. Many times there are support/resistance/sweet spots levels just near the entry point, so I cannot decide if i go for it (and believe it will go through) or not. If I decide NOT to go, then I see hardly 1-2 entry points a day on my M7 range bars

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and then the result

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3. Sometimes the clives method with LWMA 10 is just opposite from LWMA 35+175 and I don't know which is to believe.

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When looking backwards to history, I can clearly see the points where I should enter, because it is really clear. But in the time of decision, I just do wrong decisions. Of course it is about training to see the right things. As well I understand that not all the entries are perfect and successful.

Any comment is very welcomed.
  • #10,082
  • Apr 8, 2016 7:01am Apr 8, 2016 7:01am
​trying out the dax...
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out -5pip
  • #10,083
  • Edited 6:07am Apr 13, 2016 5:50am | Edited 6:07am
Quoting mahroch
1. I'm always confused if the point I want to enter is turning point of trend or pullback in the continuing trend
The first chart you show. If the trend is strong as indeed the move up was (this therefore excludes easily seen range bound trading levels) then (barring special circumstances like news event or a major key number SR level) you need to ask yourself if a trend will change over the space of 5 mins. Not really likely unless the 5 min period is a clear DT/LH. I mean the fall and push back up to highs with another 5 mins or more DT/LH. So more than likely you'll have another push up to challenge the high that needs to fail for you to sell. Exactly as your 'result' chart shows.

Why - if the big boys are selling then they'll need more vol to get their positions in and will take longer to push through market.
  • #10,084
  • Edited 6:14am Apr 13, 2016 5:57am | Edited 6:14am
Quoting mahroch
2. Many times there are support/resistance/sweet spots levels just near the entry point, so I cannot decide if i go for it (and believe it will go through) or not. If I decide NOT to go, then I see hardly 1-2 entry points a day on my M7 range bars {image} and then the result {image}
So then perhaps sweet spots more crucial at the end of a move rather than the beginning? When approaching a sweet spot or any other level what was prices reaction to it? The move below your highlighted area 153.59, chart under point 2, 10 candles above the quick ma that go nowhere slowly and 1 candle below to bring price down. So do you think the SR level will hold or fail?

If sweet spots are confusing you that much then take them off and see how you go. Or do more back testing.

Also on your chart 2, price has dropped almost 100 pips to the RN where it chops. Not sure what time your charts are but perhaps guessing that its approaching the time when London might have done its thing and going on a break? Especially after such a strong run. If you have missed the first 3 or so moves getting into first trade at a RN after 100 pip move is a brave thing to do.
  • #10,085
  • Apr 13, 2016 6:05am Apr 13, 2016 6:05am
Quoting mahroch
3. Sometimes the clives method with LWMA 10 is just opposite from LWMA 35+175 and I don't know which is to believe. {image}
If you are going to copy Clives 10lwma set up then you need to be clear what he is doing. In out lots of BE's or small losing trades waiting for the ones that push through, well thats my understanding at least. This though is the classic trend v reversal situation that everyone faces and is one of the toughest things in trading to get right.

So try either:

- sticking to trend and Clives buy above sell below 1 min 100lwma remains about as good a short term indicator of trend, if you go this route just accept that you'll miss some turns but the point being what will you get from staying with trend
- only try reversal trades at SR levels you have identified and where price then clearly shows it does not want to continue i.e. a DT/LH, DB/HL that has probably taken 20 mins or so to form. Risk here if it fails to reverse then you have to be nimble and get back into the trend move.
  • #10,086
  • Apr 13, 2016 6:20am Apr 13, 2016 6:20am
As a final point I'd get your entry rules right, perhaps:

- buy above sell below 1min 100lwma
- after price crosses 100lwma look to trade the following two pullbacks and revert to trend (either from cci or 10lwma)
- if successful then OK to continue yes/no
- times of trades LO - first two hours, 1hr before US open, after US news whatever
- stop size
- exit levels (number of pips, trail SL, RN 25 50 75 etc etc)

Then do your back testing with the above in mind.
  • #10,087
  • Apr 13, 2016 8:17am Apr 13, 2016 8:17am
Quoting Vantage
As a final point I'd get your entry rules right, perhaps: - buy above sell below 1min 100lwma - after price crosses 100lwma look to trade the following two pullbacks and revert to trend (either from cci or 10lwma) - if successful then OK to continue yes/no - times of trades LO - first two hours, 1hr before US open, after US news whatever - stop size - exit levels (number of pips, trail SL, RN 25 50 75 etc etc) Then do your back testing with the above in mind.
​Great advice!
Today's zone = Tomorrow's opportunity!
  • #10,088
  • Apr 13, 2016 8:50am Apr 13, 2016 8:50am
@Vantage: Thank you very much for patience and your time, I will try my best to study closely your advice and then let you know after some days of practicing
M.
  • #10,089
  • Edited 9:53am Apr 13, 2016 9:34am | Edited 9:53am
Vantage, there is one sentence I read again and again and try to understood what you mean, but ... maybe because I'm not native speaker + newbie in trading I just cannot get the meaning of what you advice. I tried everything what I could imagine on short back testing to figure it out, but it still makes no sense to me.

Quoting Vantage
- after price crosses 100lwma look to trade the following two pullbacks and revert to trend (either from cci or 10lwma)
You mean that after the price crosses 100lwma up (up trend) I wait for first or second pullback and BUY. then I hold the trade and wait till the trend reverts (according the cci or 10lwma) and then exit the trend.


Or do you mean something else?
  • #10,090
  • Apr 13, 2016 11:03am Apr 13, 2016 11:03am
Quoting mahroch
Vantage, there is one sentence I read again and again and try to understood what you mean, but ... maybe because I'm not native speaker + newbie in trading I just cannot get the meaning of what you advice. I tried everything what I could imagine on short back testing to figure it out, but it still makes no sense to me. {quote} You mean that after the price crosses 100lwma up (up trend) I wait for first or second pullback and BUY. then I hold the trade and wait till the trend reverts (according the cci or 10lwma) and then exit the trend. Or do you...
In these examples price below the 100lwma so looking to sell. Price moves up and when it reverts to trend i.e. down in this case looking for entry signal.
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  • #10,091
  • Apr 13, 2016 3:08pm Apr 13, 2016 3:08pm
GREAT Stuff.. Thanks
  • #10,092
  • Apr 13, 2016 3:21pm Apr 13, 2016 3:21pm
Thanks Vantage for your terrific post.

Please tele us what indicator you are showing in the last chart:

M2/M4

Thank you
True Grit!
  • #10,093
  • Apr 14, 2016 3:53am Apr 14, 2016 3:53am
Quoting hards
Thanks Vantage for your terrific post. Please tele us what indicator you are showing in the last chart: M2/M4 Thank you
Its the pivot indi from the higher low lower high thread. It always gives pivot levels which it is programmed to believe will be a target during the course of the day. I don't use it for that, just the pivots and days open prev days H/L.
  • #10,094
  • Apr 14, 2016 11:56am Apr 14, 2016 11:56am
Quoting Vantage
{quote} Its the pivot indi from the higher low lower high thread. It always gives pivot levels which it is programmed to believe will be a target during the course of the day. I don't use it for that, just the pivots and days open prev days H/L.
Thank you.
True Grit!
  • #10,095
  • Apr 15, 2016 2:58am Apr 15, 2016 2:58am
hello all. hope things are going well. thanks for the thread Clive. and everyone's valuable input. here is today on eurusd so far on 1min, range bar, and renko chart (in order):

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  • #10,096
  • Apr 17, 2016 11:05am Apr 17, 2016 11:05am
Hi Clive and traders, Hope all is good with you. Thank you for your terrific Thread & posts!

On page 462, post # 9,231 you lay out a very concise trading system on the 1M chart.

Please explain how that has worked out for you and mention any major problems you have had with it over time.

My charts are set up with the 175 LWMA & the 35 LWMA with your CCI set at 8. Please critique.
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True Grit!
  • #10,097
  • Apr 17, 2016 2:12pm Apr 17, 2016 2:12pm
Share the indicator please!
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  • #10,098
  • Apr 17, 2016 2:43pm Apr 17, 2016 2:43pm
how find m2 chart , thanks
  • #10,099
  • Apr 18, 2016 4:56am Apr 18, 2016 4:56am
Quoting high321
how find m2 chart , thanks
hi,

M2 is a offline chart, to only way to use renko on mt4. Renko is pipbased not timebased. If you want 2min time charts, tradestation and Ctrader offers that.


M
MY SITTING, NEVER MY THINKING!
  • #10,100
  • Apr 18, 2016 8:23pm Apr 18, 2016 8:23pm
Quoting mercyr
Share the indicator please! {image}
This one is same as currency strength meter (CSM) giraia. Output numbers and colors can be adjusted in settings. It can be found in this thread or under files I've posted. -Jason
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