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Simple and profitable trading style

  • #341
  • Jan 9, 2017 7:42am Jan 9, 2017 7:42am
Hi,
You can describe in detail the criteria for entry trade, pls write the criteria for exit / outside SL /.
Thank you.
  • #342
  • Jan 10, 2017 10:57am Jan 10, 2017 10:57am
Quoting moonman
Hi, You can describe in detail the criteria for entry trade, pls write the criteria for exit / outside SL /. Thank you.
My exit has been described in the thread. My GBP exit has nothing to do with exit criterion
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  • #343
  • Jan 10, 2017 10:58am Jan 10, 2017 10:58am
As i have said using GBP during uncertainty and especially going bullish with GBP was a mistake
Make all mistakes in demo and rain in pips in live account
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  • #344
  • Jan 10, 2017 11:02am Jan 10, 2017 11:02am
Please when I have time I will describe the exit point again or refer you to the exit point page on the thread
Make all mistakes in demo and rain in pips in live account
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  • #345
  • Jan 10, 2017 12:39pm Jan 10, 2017 12:39pm
Quoting moonman
Hi, You can describe in detail the criteria for entry trade, pls write the criteria for exit / outside SL /. Thank you.
Let me repeat the strategy of exit. There is a strategy of going long and there is a strategy of going short. The strategy of going short could be used to close the long position. Simple. Going long: When price is moving sideways strongly, weekly and the daily. Then when the weekly is "closing" above the middle band and the daily candle strongly closed above the upper band then we go long. Going short: Opposite is the case with going short. When price is ranging and the weekly "closing" below the middle band and the daily strongly closed below the lower band then we go short. And So if you have been in a long trade with this strategy, hold on to the long position. When it's ranging, when the weekly is closing below middle band and the daily strongly closed below the lower
band then we can get out.
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  • #346
  • Jan 10, 2017 12:47pm Jan 10, 2017 12:47pm
NZDJPY, among all the other JPY pairs have been very strongly trending. Now they're moving sideways on the daily. EURJPY is even forming bollinger band squeeze. The bulls are still strong on weekly on NZDJPY is still. The bollinger angle steep. This is not the time for exit. I have shared the charts showing the broken support NZDJPY is reacting to. This shows how valid the broken support ( now strong resistance ) is.
Make all mistakes in demo and rain in pips in live account
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  • #347
  • Jan 10, 2017 12:54pm Jan 10, 2017 12:54pm
For those who asked the questions about the reason of not waiting for the weekly to close when using this strategy, AUDNZD long I entered during the week will give more answer. The weekly has not closed yet and already bullish. As long as the strategy is bases on daily and the weekly, we get in when the daily closed while the weekly has not closed.
Attached Image (click to enlarge)
Click to Enlarge Name: audnzd-d1-sss.png Size: 33 KB
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  • #348
  • Jan 10, 2017 12:58pm Jan 10, 2017 12:58pm
When we allow the weekly to closed before getting in we might be hit with retracement before going the direction again
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  • #349
  • Jan 10, 2017 1:03pm Jan 10, 2017 1:03pm
The interesting thing now is that the Stochastic is already on overbought region when the local resistance was strongly broken.
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  • #350
  • Jan 10, 2017 1:29pm Jan 10, 2017 1:29pm
Thank you for your explanation.
  • #351
  • Edited 5:06pm Jan 11, 2017 3:57pm | Edited 5:06pm
Audnzd is now closing well above middle bb on daily chart, while on the weekly chart is already above upper bb. Can we go long?

Sorry, it is the other way around: up the middle bb in weekly chart and up the upper bb in the daily chart
  • #352
  • Jan 11, 2017 4:38pm Jan 11, 2017 4:38pm
Quoting Sanbernardin
Audnzd is now closing well above middle bb on daily chart, while on the weekly chart is already above upper bb. Can we go long?
You seem to miss them up. You did exchange in your post. I understand what you mean. The daily has to close above the upper band and the weekly above the middle band. On the daily it was last three candles away that closed above the middle band on the daily. I fear now that you might be hit with retracement. When I got in I informed you here. Am already bullish on AUDNZD. EURAUD hit by retracement
Make all mistakes in demo and rain in pips in live account
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  • #353
  • Jan 11, 2017 5:22pm Jan 11, 2017 5:22pm
Quoting 9jatrader
{quote} You seem to miss them up. You did exchange in your post. I understand what you mean. The daily has to close above the upper band and the weekly above the middle band. On the daily it was last three candles away that closed above the middle band on the daily. I fear now that you might be hit with retracement. When I got in I informed you here. Am already bullish on AUDNZD. EURAUD hitbyretracement
Yes, it is happening the other way around: up the middle bb in weekly chart and up the upper bb in the daily chart. In my daily chart, there are only a few pips difference between yesterday and today closing, both above upper bb. Doesn't make sense to enter?
Last thing: my setting for bb is 20,2,2, close. Is it correct? Different brokers infact have different setting, some have 20,0,2.
  • #354
  • Jan 11, 2017 5:45pm Jan 11, 2017 5:45pm
Quoting Sanbernardin
{quote} Yes, it is happening the other way around: up the middle bb in weekly chart and up the upper bb in the daily chart. In my daily chart, there are only a few pips difference between yesterday and today closing, both above upper bb. Doesn't make sense to enter? Last thing: my setting for bb is 20,2,2, close. Is it correct? Different brokers infact have different setting, some have 20,0,2.
It doesn't make sense to get in now. You see what EURAUD did even though we got in early. You can use the settings as you met it.
Make all mistakes in demo and rain in pips in live account
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  • #355
  • Jan 11, 2017 5:47pm Jan 11, 2017 5:47pm
Same setup, different environment. Some just work as if it's magic, while hit on retracement before moving again.
Make all mistakes in demo and rain in pips in live account
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  • #356
  • Jan 11, 2017 5:48pm Jan 11, 2017 5:48pm
It's part on learning curve we have to go through.
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  • #357
  • Edited 6:23pm Jan 11, 2017 5:53pm | Edited 6:23pm
EURAUD will be bullish again if it refuses to break the resistance when Stochastic is oversold. Stochastic is already going oversold to oversold region. Middle band is trouble place to trade. The weekly bullish move is currently trapped around the middle band.
Attached Image (click to enlarge)
Click to Enlarge Name: euraud-d1-alpariau.png Size: 33 KB
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  • #358
  • Jan 11, 2017 8:53pm Jan 11, 2017 8:53pm
BBsqueeze is becoming more on the NZDJPY
Attached Image (click to enlarge)
Click to Enlarge Name: nzdjpy-d1-alpari-ll.png Size: 27 KB
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  • #359
  • Jan 11, 2017 8:59pm Jan 11, 2017 8:59pm
Nothing has changed on the weekly. The bulls are still in good control. The upper and the lower band are strongly separated, and so it's difficult for bears to take over. I will be following more now the weekly chart. Fear has created BBSqueeze on the daily. For fear of loosing what traders have gained so far on the pair, some are closing to collect their profits.
Attached Image (click to enlarge)
Click to Enlarge Name: nzdjpy-w1-alparioo.png Size: 40 KB
Make all mistakes in demo and rain in pips in live account
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  • #360
  • Jan 12, 2017 11:04am Jan 12, 2017 11:04am
Quoting 9jatrader
When SL is based on the daily candlestick I increase lot size to either 0.02 and 0.03. My CADCHF SL was based on the daily candle. So I used 0.02 lot {image}
This pair is forming Tweezers Top. They move accordingly. If it ends like this at the end of today market I will close my position with small profits and go short immediately. The interesting thing about the Tweezers is the fact that the setup was formed right below the weekly strong resistance that had not been broken since November, 2015. I have the daily and the weekly charts.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: cadchf-d1mm.png Size: 35 KB
Click to Enlarge Name: cadchf-w1-ifcmarkets-corp-2.png Size: 44 KB
Make all mistakes in demo and rain in pips in live account
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