More simple is impossible | Page 374 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

SIMPLE EA for a simple method needed!! 2 replies

Trading is this Simple? Finally Explained simple and clearly! 46 replies

More easy is impossible 17 replies

long-run profits impossible with short-term trading? 39 replies

Attachments: More simple is impossible
Exit Attachments

More simple is impossible

  • #7,461
  • Jul 11, 2016 12:27pm Jul 11, 2016 12:27pm
Quoting ibermex
Could you please post the template and indicators you are using for this strategy? Thanks
Welcome on board, you got a long journey, here the basics are use 2 Renko brick sizes, one being the lower Time Frame and the other double the lower would be the Higher Time Frame.
Then we use 2 Oscillators, 1 or 2 or 3 MA's for Trend direction and entry, some use Fibs for targets (I need to inculcate that discipline it is sure) and some use Pivots and Daily Open lines.

You will have to develop what works best for you because many have downloaded templates and indicators but few are posting their charts afterwards.
You will need to start at the beginning or just look up the attachments for all the indicators and templates already posted (check the paperclip at the top of the page).
Attached Image (click to enlarge)
Click to Enlarge Name: New Reply.png Size: 39 KB
Let it turn and find your entry.
  • #7,462
  • Jul 12, 2016 2:13am Jul 12, 2016 2:13am
{quote} ... but few are posting their charts afterwards. quote]

​I hear you. Am busy travelling this summer.

Zones I am looking at for PA to determine whether to enter trade, TP and SL. Two long trades at moment.
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.JPG Size: 329 KB


Upper Levels
Attached Image (click to enlarge)
Click to Enlarge Name: Capture 2.JPG Size: 225 KB
  • #7,463
  • Jul 12, 2016 3:19am Jul 12, 2016 3:19am
​Added another long trade with very tight SL (13 pips) just below the last swing low on 5 pip renko. Reasons:
1. Strong up=trend.
2. Price reacted to previously identified zone.

Indicators haven't quite turned yet but I'm finding myself increasingly not using indicators as a reason to enter or exit a trade, but more as confirmation of price reacting to a zone to either enter, exit or stay out of trade.

All 3 trades at BE. Managing exits. Still not very good at letting it run fully.

Attached Image (click to enlarge)
Click to Enlarge Name: Capture 3.JPG Size: 184 KB
  • #7,464
  • Jul 12, 2016 3:48am Jul 12, 2016 3:48am
Quoting mact4
​Added another long trade with very tight SL (13 pips) just below the last swing low on 5 pip renko. Reasons: 1. Strong up=trend. 2. Price reacted to previously identified zone. Indicators haven't quite turned yet but I'm finding myself increasingly not using indicators as a reason to enter or exit a trade, but more as confirmation of price reacting to a zone to either enter, exit or stay out of trade. All 3 trades at BE. Managing exits. Still not very good at letting it run fully. {image}
Bravo
Let it turn and find your entry.
  • #7,465
  • Jul 12, 2016 4:01am Jul 12, 2016 4:01am
[quote=mact4;9024648]​Added another long trade with very tight SL (13 pips) just below the last swing low on 5 pip renko. quote]

Closed for +83. Initial 2 trades still ongoing
  • #7,466
  • Jul 12, 2016 4:03am Jul 12, 2016 4:03am
I'm trying to root out my demons, that voice of "it could turnaround on you"

The voice came with the HD coming before FO and me thinking "Okay, it may turn at the Asian Session High" there was a clear entry I didn't take it cos of that and look what I missed. Should have taken the drop which my HTF gave a heads-up but I went to cool-off my frustration of missing out on the Bull run in the garden. Then the MACD did not agree with the bounce-off the MA but I said "to hell, I'm gonna get into a loosing trade anyway it may be this one or the one after so I will just have to pull the trigger". Hit my TP as the HTF MACD was RED and BOE Gov was gonna speak so didn't ask for too much
Attached Image(s) (click to enlarge)
Click to Enlarge Name: RENKO 218.png Size: 67 KB
Click to Enlarge Name: RENKO 219.png Size: 62 KB
Let it turn and find your entry.
  • #7,467
  • Jul 12, 2016 4:07am Jul 12, 2016 4:07am
[quote=mact4;9024744]
Quoting mact4
​Added another long trade with very tight SL (13 pips) just below the last swing low on 5 pip renko. quote] Closed for +83. Initial 2 trades still ongoing
Like the way you are nailing it, and I see you have a 34MA on your MACD, how does that help with entries?
Thanks.
Let it turn and find your entry.
  • #7,468
  • Jul 12, 2016 4:12am Jul 12, 2016 4:12am
[quote=Intrepidpips;9024766]
Quoting mact4
{quote} Like the way you are nailing it, and I see you have a 34MA on your MACD, how does that help with entries? Thanks.
​I don't use indicators for entry now, rather use it to help me decide if it supports my decision on a direction to take a trade, exit one or stay out of market. I found using indicators gave me more false entries and exits. The 34 MA gives me a more dynamic bias of the market but I use PA to decide when / where to trade. Still a learner with a capital "L" though
  • #7,469
  • Jul 12, 2016 4:28am Jul 12, 2016 4:28am
[quote=mact4;9024776]
Quoting Intrepidpips
{quote} ​I don't use indicators for entry now, rather use it to help me decide if it supports my decision on a direction to take a trade, exit one or stay out of market. I found using indicators gave me more false entries and exits. The 34 MA gives me a more dynamic bias of the market but I use PA to decide when / where to trade. Still a learner with a capital "L" though
Okay thanks!
Let it turn and find your entry.
  • #7,470
  • Edited 4:54am Jul 12, 2016 4:32am | Edited 4:54am
[quote=mact4;9024744]
Quoting mact4
​Added another long trade with very tight SL (13 pips) just below the last swing low on 5 pip renko. quote] Closed for +83. Initial 2 trades still ongoing
​

Bailed too early. Should have stuck to my guns. Then again, better some pips in bank then giving them back. Closed another for +167. Left last one at BE. Let's see if it can go further
  • #7,471
  • Jul 12, 2016 8:33am Jul 12, 2016 8:33am
I am thinking that it would just make my life so easy if I could just wait for the turn and find a profitable entry, so I turned to the Beast -GBPJPY and I found out the 5 days ADR is an amazing 304.6 pips, and just 10% of that is needed to keep my equity curve rising to the moon.
So I'm considering ditching Cable for the Beast.

A great strategy would be to get an ADR Dashboard and just pitch your tent with the highest.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: RENKO 220.png Size: 62 KB
Click to Enlarge Name: RENKO 221.png Size: 92 KB
Click to Enlarge Name: RENKO 222.png Size: 82 KB
Let it turn and find your entry.
  • #7,472
  • Jul 12, 2016 8:41am Jul 12, 2016 8:41am
Quoting Intrepidpips
I am thinking that it would just make my life so easy if I could just wait for the turn and find a profitable entry, so I turned to the Beast -GBPJPY and I found out the 5 days ADR is an amazing 304.6 pips...
Clive Packham visited earlier in this thread. He has an indi for picking out the top trenders : http://www.forexfactory.com/showthread.php?t=486543

Regardless of which instrument you use, understanding PA and price zones is key. I found these two websites particularly useful in filling in the gaps in my knowledge.

1. http://www.forexfactory.com/showthread.php?t=402253
Don't be put off by the size of this thread. The first post directs to you to page 730+

2. http://www.forexfactory.com/showthread.php?t=562581
This thread is only a 146 pages long
  • #7,473
  • Jul 12, 2016 9:53am Jul 12, 2016 9:53am
​Distracted with phone call and made a knee jerk reaction to bail out of last trade for +141. Regretted it when I saw what looks like a double bottom. Made another knee-jerk decision to enter long, just one trade. On reflection, did not like my entry point and bailed out for -10. Enough pips for today.

Price has crept up a little and I could have gotten out for BE but I think I made the right decision to kill a poorly thought out trade.
Attached Image (click to enlarge)
Click to Enlarge Name: Capture 4.JPG Size: 218 KB
  • #7,474
  • Jul 12, 2016 5:18pm Jul 12, 2016 5:18pm
Hello intrepidpips, i would like to ask you for the indicator swingman ultrasuper and its setting you used on your charts above, thanks
  • #7,475
  • Jul 13, 2016 1:56am Jul 13, 2016 1:56am
Looking to see if price retraces and how price reacts to blue zone.

Attached Image (click to enlarge)
Click to Enlarge Name: Capture.JPG Size: 208 KB

​
  • #7,476
  • Jul 14, 2016 8:10am Jul 14, 2016 8:10am
Dax 30......+21...... simple ABCD
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 57 KB
  • #7,477
  • Jul 14, 2016 3:07pm Jul 14, 2016 3:07pm
Quoting PhilippineFX
Dax 30......+21...... simple ABCD{image}
Aaaa ! And I thought you are not posting anymore in this thread, nice to see your trades again, looking forward another ones !
  • #7,478
  • Jul 15, 2016 2:40am Jul 15, 2016 2:40am
Quoting PhilippineFX
Dax 30......+21...... simple ABCD{image}
  • #7,479
  • Jul 15, 2016 7:19am Jul 15, 2016 7:19am
Quoting amoc
Hello intrepidpips, i would like to ask you for the indicator swingman ultrasuper and its setting you used on your charts above, thanks
I am afraid I don't access to my computer for some time now, so just do a search for Swingman ultra super trip on the forum. I found it posted on Mihailo adjustable Renko thread. I use the default settings.
Let it turn and find your entry.
  • #7,480
  • Jul 16, 2016 1:54pm Jul 16, 2016 1:54pm
Hello everyone. Again, I find myself amazed when I look at how well Ger30 listens to Davits pivots. I have been also experimenting with Psych levels, so added them to the chart to see if these levels actually have any credence. I find them interesting as it seems GER30 has a rather good probability of interaction with these levels.
I say this because they seem to cluster very close to the pivots, so ergo they create a confluence zone adding to the analysis - at least my experience so far.
Anyway, thats what i have been up to. I wish you all a good weekend and a profitable week.
Best, Josh
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GER30 pivots and psych levels.png Size: 90 KB
Click to Enlarge Name: Ger30 2.png Size: 111 KB
28 traders viewing now