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Simple, proven and profitable S/R system

  • #41
  • Apr 18, 2016 8:35pm Apr 18, 2016 8:35pm
Quoting chrisxhernan
HCooper, A week ago you started a thread with a different trading system that you have stated you concluded after many years (see link below)... So, how many systems do you trade? http://www.forexfactory.com/showthread.php?t=586713
If you have read the first post, you will find the answer
  • #42
  • Apr 18, 2016 9:03pm Apr 18, 2016 9:03pm
S/R are the core tools of technical analysis. It shouldn't even be classified as a kind of trading system.
However, any "system" that incorporates the use of S/R + price action such as yours should always be a winner. Kudos.
Great indicator too.
  • #43
  • Apr 18, 2016 9:44pm Apr 18, 2016 9:44pm
So Coop... do you used your system's separately or combined each other ? (is there any chance to combine ?)
  • #44
  • Apr 19, 2016 1:45am Apr 19, 2016 1:45am
Quoting Kubiasty
Looks cool. Will test tomorrow XD thanks.
Nice let me know how are you doing with the system then
  • #45
  • Apr 19, 2016 1:48am Apr 19, 2016 1:48am
Quoting chrisxhernan
HCooper, A week ago you started a thread with a different trading system that you have stated you concluded after many years (see link below)... So, how many systems do you trade? http://www.forexfactory.com/showthread.php?t=586713
Hello, this is correct - I pasted the link to the Correlation system in the end of the first post. I trade mainly these two systems on real accounts as I watch correlations on longer charts and use the S/R system mostly for fast intraday trades. I am also trying some EAs, but I am not live with these.
  • #46
  • Apr 19, 2016 1:49am Apr 19, 2016 1:49am
Quoting HCooper
Btw: the indicator counts tests only if the market closes inside the S/R zone and bounce. But similar situations are also valid for me.
So, if I understand your statement correctly - you consider a zone valid if the market retraces/bounces from a zone irrespective if it closes or not inside the zone. Is my understanding correct?
  • #47
  • Apr 19, 2016 1:49am Apr 19, 2016 1:49am
Quoting joeri
{quote} If you have read the first post, you will find the answer
Yep, thanks
  • #48
  • Apr 19, 2016 1:50am Apr 19, 2016 1:50am
Quoting Koop
S/R are the core tools of technical analysis. It shouldn't even be classified as a kind of trading system. However, any "system" that incorporates the use of S/R + price action such as yours should always be a winner. Kudos. Great indicator too.
Definitely agree with this.
  • #49
  • Apr 19, 2016 1:55am Apr 19, 2016 1:55am
Quoting amrih
So Coop... do you used your system's separately or combined each other ? (is there any chance to combine ?)
Hello, I use the systems separately, but the fact is that I use some principles of correlations in every trade. For example due to a high correlation of EUR/USD and GBP/USD, it is usually not wise to open the same trades both on EUR/USD and GBP/USD (for example go long on both pairs) - usually both trades will end on TP or on SL. When I get the same signal on pairs that have a high negative or positive correlation, I try to choose only the pair with the best momentum.

Other option would be to spread the risk across trades on pairs that correlate and open all trades with smaller volume.
  • #50
  • Apr 19, 2016 2:13am Apr 19, 2016 2:13am
Hi Hcooper,

Thanks for posting your system. Is this a valid trade on GU? I have used SL on other side of resistance zone to improve RR. Please post some trades to learn further how you use this system.
Attached Image (click to enlarge)
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  • #51
  • Apr 19, 2016 2:28am Apr 19, 2016 2:28am
Quoting rajib4
{quote} So, if I understand your statement correctly - you consider a zone valid if the market retraces/bounces from a zone irrespective if it closes or not inside the zone. Is my understanding correct?
Correct
  • #52
  • Apr 19, 2016 2:33am Apr 19, 2016 2:33am
Quoting Alamhakim
Hi Hcooper, Thanks for posting your system. Is this a valid trade on GU? I have used SL on other side of resistance zone to improve RR. Please post some trades to learn further how you use this system. {image}
Hello and welcome here! Are the zones from the indicator? The indicator should tell you whether the S/R zone is weak / verified etc... The way how you entered is correct - with SL above the resistance to improve RRR. But the resistance zone in the situation that you show wasn't verified (it was the first bounce - so I would trade the second bounce). Some examples are in the second and in the first page, but I will post a couple of more today...
  • #53
  • Apr 19, 2016 2:46am Apr 19, 2016 2:46am
I would recommend all traders to read the first post and start from the beginning with the simplest version of the system...

But there is an example of more advanced and more difficult way of trading.

We had very nice verified support and the second bounce (based on the rules from the first post, we should set limit order in the S/R zone, place TP under the nearest resistance, in the same amount of pips place SL and simply go away...

Attached Image (click to enlarge)
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But I choose a little bit different approach here. I waited for a bounce, then go buy with SL right under the support. Firstly I place the TP under the nearest resistance, but finally I closed the trade right after the break of Doji candle on M5 time-frame.

Attached Image (click to enlarge)
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As you can see, there are simply a lot of ways how you could trade the opportunities that appear every single day. But once again, please stick to the simplest rules in the first post (or change them on your own, but firstly keep it simple) and improve little by little.
  • #54
  • Apr 19, 2016 4:18am Apr 19, 2016 4:18am
very interesting. keep posting.
did u trade on bigger timeframe. like h1 minimum or above.
  • #55
  • Apr 19, 2016 5:29am Apr 19, 2016 5:29am
It looks like best ff thread ever
  • #56
  • Apr 19, 2016 5:54am Apr 19, 2016 5:54am
Quoting pressok
very interesting. keep posting. did u trade on bigger timeframe. like h1 minimum or above.
I mostly trade lower intraday timeframes. When I watch bigger time frames, I usually trade the Correlation system - it is the second thread that I posted here (http://www.forexfactory.com/showthread.php?t=586713)at FF. But I am pretty sure that this trading strategy / approach will work on all time frames and markets - it is a principle how market works.
  • #57
  • Apr 19, 2016 5:56am Apr 19, 2016 5:56am
Quoting Kubiasty
It looks like best ff thread ever
Thanks men itīs nice to see that other traders can learn a lot from my experience.
  • #58
  • Edited 7:35am Apr 19, 2016 6:47am | Edited 7:35am
Is this correct entry ?

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I Will watch now candles and ressistance:

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HCooper, i noticed that the indicator repaints very often S/R areas, is this good or not, from you experience with this indicator?

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  • #59
  • Apr 19, 2016 7:39am Apr 19, 2016 7:39am
Quoting Kubiasty
Is this correct entry ? {image} I Will watch now candles and ressistance: {image} HCooper, i noticed that the indicator repaints very often S/R areas, is this good or not, from you experience with this indicator? {image}
Wow, this is a very nice entry!!
  • #60
  • Apr 19, 2016 7:44am Apr 19, 2016 7:44am
Quoting Kubiasty
Is this correct entry ? {image} I Will watch now candles and ressistance: {image} HCooper, i noticed that the indicator repaints very often S/R areas, is this good or not, from you experience with this indicator? {image}
HC, it says weak support. why is it a very good entry?
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