E/CHF is still fighting, position taken on Monday
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Monthly Profit - Daily Trading using SMA
- #2,443
- Sep 14, 2016 6:55am Sep 14, 2016 6:55am
- Joined Aug 2009 | Status: Just trade it! | 1,230 Posts
{quote} Morning BK8 what i don't understand is all those suggestions to try and improve a system that is already profitable, this is a common theme right throughout FF, why change something when it already works, do people expect you to do all the legwork for them? as you stated previously test it yourself and then present it if its working and improving the system to the forum, the results as it is are outstanding, i hope we don't loose you due to the ignorance of others
Money is made by sitting, not trading. Jesse L. Livermore
- #2,449
- Sep 14, 2016 7:52am Sep 14, 2016 7:52am
- Joined Feb 2012 | Status: Trade like Water | 3,403 Posts
{quote} Morning BK8 what i don't understand is all those suggestions to try and improve a system that is already profitable, this is a common theme right throughout FF, why change something when it already works, do people expect you to do all the legwork for them? as you stated previously test it yourself and then present it if its working and improving the system to the forum, the results as it is are outstanding, i hope we don't loose you due to the ignorance of others
The Greatest Feedback!
Let Market Tell You
- #2,450
- Sep 14, 2016 8:18am Sep 14, 2016 8:18am
- Joined Jan 2011 | Status: Senior Member - Pro FX Trader | 2,736 Posts
{quote} 2 thumbs up.. The Greatest Feedback!
My original post on this thread was just that, although I trade supply and demand as my bread and butter I like to flutter around FF and look for those that are on the right path. Such as using daily timeframes, RR in the positive range, and the mindset of no fear etc for taking trades, psycology will give you the final edge in being succesful as I battled many years with mine before sorting it out.
I commend BK8 and also repeat that stick to the dailys and above, keep it simple, and always aim for TP to be larger than SL and you are over halfway there to a complete package.
- #2,451
- Sep 14, 2016 8:22am Sep 14, 2016 8:22am
{quote} I learned lesson from yesterday that even we have 1% doubt on setup... stay away We did not have SL for last 2 weeks but todays SL spoiled my day and profits from so many other setups
Just re your comment here, have you looked into your av loss pet trade and ave won pet trade yet?
Also have you a % figure of wibs vs losses vs B/E trades?
Doing this may assist in the emotions you experienced today hitting your S/L.
- #2,453
- Sep 14, 2016 8:58am Sep 14, 2016 8:58am
- Joined Dec 2012 | Status: Trader | 4,714 Posts
Can anyone modify this price/sma cross alert indy to accomodate the shift of sma? Thanks in advance. RisingSun {file}
The Average Discount Everything
... Turning away from resistance spotted last week.
- #2,458
- Sep 14, 2016 10:36am Sep 14, 2016 10:36am
I apologize if this question makes me sound ignorant, but how are you guys defining a "sideways" pair? I got caught in two that didn't look sideways to me, but others were saying different and had back to back losers for a sizeable chunk. Are we defining it as inside candles? Is it whipsawing the 5 SMA? I appreciate any clarification you can provide.
Sideways visually means that there is little seperation between the upper and lower limits of candles. For example a candle down followed by a candle up, where both are of similar size. An easy way to tell is to look at the Bollinger Bands. If there is little seperation between the upper and lower, then there is not a lot of volatility (energy), in the price. When the upper and lower bands have quite a gap between them, there is more volatility and a higher probability that the price will proceed in the appropriate direction.
Also, the perspective of your chart can distort the picture, and hide the sideways "look". Make your chart in "proportion". Often, we only look at a small piece of the information. Have a look at at least a months worth of data (preferably more), you'll soon see where the price is moving up a bit, then down a bit, but not really making any big moves in a particular direction.
Please ask questions if you'd like further clarification.Hope this helps, cheers M
- #2,460
- Sep 14, 2016 11:03am Sep 14, 2016 11:03am
{quote} Thanks Mathy, so in general, would a good rule of thumb be that there should be 3 or more of the same type of candle preceding an entry (ie three bullish candles before a short entry or three bearish candles before a long entry)?
By contrast, if you look at something like AUDUSD, you'll see there are significant waves and the Bollinger Bands are quite wide.
If you want a great example of volatility, have a look at NZDJPY, which has a reputation of being a bit of a beast! When that crosses the SMA5, you know something's going to happen!
Make your charts look like the candles are not fat (that is too wide) - squish them so the width is narrower. You can do this by using the "minus" key in MetaTrader, or by pinching them on iPad or iPhone (or the Android alternative)
cheers M