More simple is impossible | Page 392 | 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

  • #7,821
  • Edited Feb 15, 2023 2:09pm Nov 19, 2016 2:54am | Edited Feb 15, 2023 2:09pm
Quoting PhilippineFX
Here is another great post by Cat... Post 695 Cleanup Quote Nov 19, 1:48am (8 hr ago) | Edited Nov 19, 2:00am {image} cat Joined Oct 2010 | Status: member | 3,145 Posts Why do so many traders persist in entering positions trying...
Phil, thank you again for posting posts like this, because thats really where the gold is hidden. I already read the whole thread of Cats posts you mentioned few pages ago and that is one of the things which kick off my ass out of thinking like an amateur and twirl in non-sense circle. What is more important, I really started do things like these guys recommends, not only read it and shake my head with very serious look. The action is what makes a change, not thinking.

To add some value to my post, there is the whole PDF which is another wagon of gold. Dee mentioned it first in this thread, but only a parts of that PDF. Do not be lazy to read those 209 pages - just during these days I read Dees PDFs 4th time, thats 717 pages of text and screens together in 5 PDFs.

{ copyrighted attachment deleted by staff }
  • #7,822
  • Nov 19, 2016 5:17am Nov 19, 2016 5:17am
Quoting des_b
Hi PhiliPineFX, great consistent trading once again, if its not too much trouble could you comment on your trading decisions, I can see from the chart that most of your trades were slight pull backs against the trend however I am wondering why you did not take any trades on pull backs around the 10:24 time, would be great to get your experience as to why you never took any trades at this time Thanks for any help Cheers...Des
I was away from the computer around then. Looks like it would have been good. London open is often a good time to trade but early moves tend to reverse fast.....
  • #7,823
  • Nov 19, 2016 2:43pm Nov 19, 2016 2:43pm
Quoting JanTheTrader
{quote} Is price action enough to be a winner?
Read the whole thread and you will find out.

For me personally it is 50/50 - price action/psychology. I recommend you learn psychology at first. In these nearly to 400 pages you can find both
  • #7,824
  • Nov 19, 2016 11:50pm Nov 19, 2016 11:50pm
Quoting Matomi
{quote} Phil, thank you again for posting posts like this, because thats really where the gold is hidden. I already read the whole thread of Cats posts you mentioned few pages ago and that is one of the things which kick off my ass out of thinking like an amateur and twirl in non-sense circle. What is more important, I really started do things like these guys recommends, not only read it and shake my head with very serious look. The action is what makes a change, not thinking. To add some value to my post, there is the whole PDF which is another...

+1. I agree 100%
Thx you guys for adding allways a little more.
  • #7,825
  • Nov 19, 2016 11:58pm Nov 19, 2016 11:58pm
Quoting JanTheTrader
{quote} Is price action enough to be a winner?
For sure it is not enough but it is the BIG FIRST STEP. Just take out all indis and learn to read what price is telling you.
  • #7,826
  • Nov 21, 2016 12:33am Nov 21, 2016 12:33am
Dax 30.....+23.......Classic London Open head fake then a charge down to set a LL/LH on its way to filling the gap....Stop loss was set just above the BRN at -7 pips so the risk was minimal
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot3.png Size: 68 KB
  • #7,827
  • Nov 22, 2016 12:37pm Nov 22, 2016 12:37pm
Quoting PhilippineFX
{quote} Most my Trades yesterday were momentum plays.......wait for a pullback and anticipate when price will rejoin that momentum. Here`s my last trade of the day. I guess you could call it a counter-trend trade but take a look at the renco 10 chart. Price has been fading from 10,800 so it could be argued that momentum was still down. Regardless I was looking at the renco 3 charts forming a nice divergence but as we all know that can not be the only reason to take the trade. Watching 3 pip bricks its had to tell what is going on. That`s where dropping...
Many thanks for your explanation Phil... Will take more time studying it.

Regards
  • #7,828
  • Nov 23, 2016 12:14am Nov 23, 2016 12:14am
Dax30 ....15 pips.... LL/LH
Attached Image (click to enlarge)
Click to Enlarge Name: R3.png Size: 27 KB
  • #7,829
  • Nov 23, 2016 1:32pm Nov 23, 2016 1:32pm
Quoting erkro
Dax30 ....15 pips.... LL/LH {image}
Nice trade.....London open can swing wildly but with a tight stop it ok...
  • #7,830
  • Nov 23, 2016 10:33pm Nov 23, 2016 10:33pm
Quoting PhilippineFX
{quote} Nice trade.....London open can swing wildly but with a tight stop it ok...
Yes it was very tight, I used a 8 pip stop loss. Thanks!
  • #7,831
  • Nov 24, 2016 12:59am Nov 24, 2016 12:59am
Dax 30....+26.....Big divergence along with a LH on the renco 3......looking at the renco 1 chart a series of HH`s were broken so i took a chance with PA fading to the downside.
The American`s have pulled their dog out of the CFD fight to celebrate Thanksgiving .....anyone care to chime in with their thoughts on how this effects the Dax today?????
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 65 KB
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 68 KB
  • #7,832
  • Nov 24, 2016 11:25pm Nov 24, 2016 11:25pm
Quoting PhilippineFX
Dax 30....+26.....Big divergence along with a LH on the renco 3......looking at the renco 1 chart a series of HH`s were broken so i took a chance with PA fading to the downside. The American`s have pulled their dog out of the CFD fight to celebrate Thanksgiving .....anyone care to chime in with their thoughts on how this effects the Dax today?????{image}{image}
Great trade, learn a lot from your charts.
Did not see the divergence ....... had a wrong setting on my macd.
  • #7,833
  • Nov 24, 2016 11:42pm Nov 24, 2016 11:42pm
Quoting PhilippineFX
Dax 30....+26.....Big divergence along with a LH on the renco 3......looking at the renco 1 chart a series of HH`s were broken so i took a chance with PA fading to the downside. The American`s have pulled their dog out of the CFD fight to celebrate Thanksgiving .....anyone care to chime in with their thoughts on how this effects the Dax today?????{image}{image}
Nice !!!! Learning a lot how to use 1 and 3/5 PIPs charts together. Thx :-)
A little Q about MACD. I see you prefer default settings (12.26.9) against the (7.10.5) we were using time ago. Why do you prefer that ?
  • #7,834
  • Nov 25, 2016 2:14am Nov 25, 2016 2:14am
Quoting xian
{quote} Nice !!!! Learning a lot how to use 1 and 3/5 PIPs charts together. Thx :-) A little Q about MACD. I see you prefer default settings (12.26.9) against the (7.10.5) we were using time ago. Why do you prefer that ?
This is going to sound funny but Until you mentioned it I did not realize that it was set at default.....In June I got a new laptop and had to reconstruct the charts from scratch so it must have happened then. I do not rely on macd all that much other then the odd divergence that pops up. Its there more out of nostalgia for the days when i had an indi laden chart..
  • #7,835
  • Nov 25, 2016 3:08am Nov 25, 2016 3:08am
Dax +13.........got a late start today but 10 minutes after settling in this trade presented itself. There were 3 LH`s on the ren 3 chart. Switching to the Ren 1 chart yet again there were 3 LH`s.......Price took a solid slap in the face at the BRN and headed south. SL was tight at 7 pips ......price headed south without painting a positive 1 pip brick......wish they were all this easy but of course they are not......
Besides a nice pip score in a slow market this trade shows the validity of The renco 1 chart to fine tune entry. Divergence,, HHHLLHLL, S&R, BRN etc all carry weigh just as they do on the 3,5,10 renco charts. It starts with the higher TF`s and works its way down....I am playing around with the renco 1/2 pip chart to see how that works into all of this...
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 67 KB
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 61 KB
  • #7,836
  • Nov 25, 2016 3:26am Nov 25, 2016 3:26am
Quoting PhilippineFX
{quote} This is going to sound funny but Until you mentioned it I did not realize that it was set at default.....In June I got a new laptop and had to reconstruct the charts from scratch so it must have happened then. I do not rely on macd all that much other then the odd divergence that pops up. Its there more out of nostalgia for the days when i had an indi laden chart..
What an telepathy ! This morning I was drawing to my charts and found out, that my MACD sets are default, because I did not use indicators few months. I added them again few weeks ago, but just for speed up recognizing divergences and cycles.

For everyone, did you try what a CrucialPoint in his extracted thread recommend as 1 day per week or 1 day per month ? I am doing it 5 days a week now (couple of weeks actually), just watching chart and sitting on my hands. Well, at first you feel like you are bored to die, but then when you realize how often you changed your bias during only 1 trade, that is one of the most important AHA! moments in trading. Quoting CrucialPoint "Your only work as a trader is ENTRY and EXIT, nothing else !" - that is what this observing exercise should teach you, at least in my case

Results ? Look at this picture, it is 3 days old, one of hundreds I marked on my charts during those weeks realtime. Just made a second screen at this morning to compare what happened next. Wish you lot of pips at the last day of week and have a nice weekend guys !

Edit: The green lines mark the start and end of every trade.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: XAUUSDM2.png Size: 49 KB
Click to Enlarge Name: XAUUSDM21.png Size: 54 KB
  • #7,837
  • Nov 25, 2016 3:43am Nov 25, 2016 3:43am
Quoting Matomi
{quote} What an telepathy ! This morning I was drawing to my charts and found out, that my MACD sets are default, because I did not use indicators few months. I added them again few weeks ago, but just for speed up recognizing divergences and cycles. For everyone, did you try what a CrucialPoint in his extracted thread recommend as 1 day per week or 1 day per month ? I am doing it 5 days a week now (couple of weeks actually), just watching chart and sitting on my hands. Well, at first you feel like you are bored to die, but then when you realize...
That`s great work you are doing here by just observing the dace in its simplest form.....keep posting
  • #7,838
  • Nov 25, 2016 4:25am Nov 25, 2016 4:25am
Quoting PhilippineFX
{quote} That`s great work you are doing here by just observing the dace in its simplest form.....keep posting
Thanks Phil, just doing what you recommend me 1 year ago (if I was not an idiot I would do it right in that moment) .

Nice trade above from you , just adding my view from higher 5 Renko chart, watching in realtime:
Attached Image (click to enlarge)
Click to Enlarge Name: GER30M2.png Size: 78 KB
  • #7,839
  • Nov 25, 2016 6:04am Nov 25, 2016 6:04am
GER30 +15, XAU BE+ ongoing both positions (sitting on my hands trades)

This is exactly one of situations I had never know what to do, the answer is - wait. You can see the XAU broke triangle with nice Double bottom, HTF trendline and Div both on Stoch and MACD, but it was out of a steam after break with stoch cycle on the end, but still even if price would make pullback (what really made), the strong S/R was just at high of swing, so I would wait for break, pull back and then it would be a safety entry for me. Instead of that, price dropped down and the LTF 123 was on the scene now, so I decide to try it, followed by HTF trendline break & bounce where I added second position. Meanwhile I was writing, the second position went to BE, first still ongoing, added again second on the pull back and again BE + first ongoing, the channel is forming now.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: XAUUSDM2.png Size: 60 KB
Click to Enlarge Name: GER30M2.png Size: 65 KB
  • #7,840
  • Nov 25, 2016 6:34am Nov 25, 2016 6:34am
XAU +15 +30 (observation)

When price bounced again from the bottom of channel I reviewed that maybe there is enoguh place for long, what price within few minutes confirmed, so I closed my first short for +15 and tried if I am right, and I was - My TP wasnt so ambitious for this time, because I lost too much pips in those 3 shorts and it looks like we are in range today. If I traded for real, I would say I am done for today.
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSDM2.png Size: 67 KB
9 traders viewing now