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More simple is impossible

  • #8,121
  • Jan 27, 2017 4:17am Jan 27, 2017 4:17am
Quoting Matomi
{quote} I use 3 & 5 pip charts, 5 for bigger picture, 3 for trading.
Thanks
  • #8,122
  • Jan 27, 2017 1:54pm Jan 27, 2017 1:54pm
Thank you @Matomi and @BBalazs!
I had went through many techniques outlined in this thread!
123 system by Mark Crisp is pretty useful in identifying the beginning and the ending of the trade (attached below). HA candles are not reliable for my style. EMA numbers varies with different charts/timelines. That is why I wanted everyone's idea here

Anyway, I use the following to identify the trend!
UP Trend Trading:
In Daily Chart, the EMA 8 should be above EMA 21. In H4 chart, there should be a swing low of EMA 8 above EMA 21. Also, check for the Higher Highs and Higher lows.
Wait for a pullback (Reversal Candle Pattern) and trade along the trend.
Attached File(s)
File Type: pdf 123system.pdf   1.1 MB | 589 downloads
  • #8,123
  • Jan 27, 2017 3:49pm Jan 27, 2017 3:49pm
Also let me add another strategy I use which saved a lot of failures!

Its either Consolidation or Trending.
If higher charts are consolidated, then the lower charts have trends. (You can increase your lot size depends on your risk management when trading lower charts).
If a lower chart breaks a trend, look higher charts for the HH & HL patterns to trade according to the trend. If H1 is consolidated, I look for M30 or M15 for any trends.

I basically trade according to the trend with the help of 123 system (the pdf I attached in the previous post). But rather than breakout trade, I use 123 system to identify the beginning and the end of the trade to trade according to the trend.
  • #8,124
  • Jan 28, 2017 2:33am Jan 28, 2017 2:33am
Quoting ganesubu
Also let me add another strategy I use which saved a lot of failures! Its either Consolidation or Trending. If higher charts are consolidated, then the lower charts have trends. (You can increase your lot size depends on your risk management when trading lower charts). If a lower chart breaks a trend, look higher charts for the HH & HL patterns to trade according to the trend. If H1 is consolidated, I look for M30 or M15 for any trends. I basically trade according to the trend with the help of 123 system (the pdf I attached in the previous post)....
You are welcome, hope you are doing well with your system, do not hesitate share screens with us
  • #8,125
  • Jan 28, 2017 4:39pm Jan 28, 2017 4:39pm
For sure Matomi,
The only problem is my screenshots wont be relevant to this thread bcoz I don't use Renko nor Heiken Ashi! But I love both the techniques involved in this thread! You guys are amazing!
I try to see the what price action is doing to the renko chart but using the regular chart! So that I can incorporate price action based on candles as well!

Step 1: Identify the Trend using MAs. (8 EMA, 21 EMA. Also, add 50 EMA if you can't identify the trend change)
Step 2: Identify the Pattern of HHHLs. (Helps when not to trade amidst of above condition) Draw a trend line if it helps.
Step 3: Wait for the reversal candle favoring the trend.
TDI Traders Dynamic Index "one of the best tool" Hands down! Gives you the trend, the momentum, and limits.
Step 4: Finally, if the RSI crosses the Trade Signal Line (Green over Red) during Step 3, Go for it!

I usually try many combinations! But this one is consistently more profitable than many other techniques I used. Just wanna share it to the community that I gained most from!
  • #8,126
  • Jan 30, 2017 1:54am Jan 30, 2017 1:54am
DAX +25

One more trade like this and I am OK for today.
Attached Image (click to enlarge)
Click to Enlarge Name: GER30M3.png Size: 48 KB
  • #8,127
  • Jan 30, 2017 8:19am Jan 30, 2017 8:19am
DAX +4 +3 +2 +9

Or not, the +4 trade had TP at 11705.0, but... but. So after that I decided to scalp because I had lot of other stuff to do. Hope you all utilized "unusual" DAX day like this to make some pips as well.
Attached Image (click to enlarge)
Click to Enlarge Name: GER30M3.png Size: 46 KB
  • #8,128
  • Jan 31, 2017 3:37am Jan 31, 2017 3:37am
Dax +2+5+6+10-8+3+3+10+13+11+10+22+4+4.
Attached Image (click to enlarge)
Click to Enlarge Name: 310117 3 range.png Size: 69 KB
Cut your Losers short and let your Winners run.
  • #8,129
  • Jan 31, 2017 3:46am Jan 31, 2017 3:46am
Quoting dee50
Dax +2+5+6+10-8+3+3+10+13+11+10+22+4+4. {image}
So welcome back on board, finally I can write you - thank you for all I know
  • #8,130
  • Jan 31, 2017 3:51am Jan 31, 2017 3:51am
Quoting dee50
Dax +2+5+6+10-8+3+3+10+13+11+10+22+4+4. {image}
Elvis is back in the building.......good to see....
  • #8,131
  • Jan 31, 2017 3:51am Jan 31, 2017 3:51am
The best new we have in a whole time !!!! Welcome again Master.
  • #8,132
  • Jan 31, 2017 4:38am Jan 31, 2017 4:38am
I have to confess I have made a few changes.
Thanks go to
Clive Packham for his Trend Hinter and his use of the 35 and 10 LWMA.
@Divergence (Harold) for reminding me of how to trade HHs and HLs.
@DutchDaxy for showing me how best to use Market Profile for that extra bit of information on where the market "might" be going and why it is going in that direction despite the lack of News.

I have been scalping the 1 pip and 3 pip Renkos for months (seems like a lifetime), but to really scalp the HHs and HLs I found that the 3 pip Range chart was easier to follow, that is just my personal preference, PhilippineFX, Matomi and others are doing a much better job than I using Renko charts.

Here are examples of the charts I am using.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 3 pip Range.png Size: 71 KB
Click to Enlarge Name: 3 pip renko.png Size: 64 KB
Click to Enlarge Name: Market Profile.png Size: 46 KB
Cut your Losers short and let your Winners run.
  • #8,133
  • Jan 31, 2017 4:41am Jan 31, 2017 4:41am
Gotta love it when someone posts their chart with their feelings stated about each trade, I just sit here seething, maybe this chart markup 'method' is better for the blood pressure ha ha. If those comments are on a +90 something session - would love to see what gets written with results like mine lol Nice work Mr Dee.
  • #8,134
  • Jan 31, 2017 4:45am Jan 31, 2017 4:45am
@dee50
Nice to have you back here in the thread. Curios what Market Profile indicator(s) you use on last chart?
  • #8,135
  • Jan 31, 2017 4:48am Jan 31, 2017 4:48am
Quoting dee50
I have to confess I have made a few changes. Thanks go to Clive Packham for his Trend Hinter and his use of the 35 and 10 LWMA. @Divergence (Harold) for reminding me of how to trade HHs and HLs. @DutchDaxy for showing me how best to use Market Profile for that extra bit of information on where the market "might" be going and why it is going in that direction despite the lack of News. I have been scalping the 1 pip and 3 pip Renkos for months (seems like a lifetime), but to really scalp the HHs and HLs I found that the 3 pip Range chart was easier...
Is that Volume or Market Profile? Welcome back

NVM, it's MP.
Invincibility lies in the defence; the possibility of victory in the attack
  • #8,136
  • Jan 31, 2017 5:32am Jan 31, 2017 5:32am
Quoting dee50
I have to confess I have made a few changes. Thanks go to Clive Packham for his Trend Hinter and his use of the 35 and 10 LWMA. @Divergence (Harold) for reminding me of how to trade HHs and HLs. @DutchDaxy for showing me how best to use Market Profile for that extra bit of information on where the market "might" be going and why it is going in that direction despite the lack of News. I have been scalping the 1 pip and 3 pip Renkos for months (seems like a lifetime), but to really scalp the HHs and HLs I found that the 3 pip Range chart was easier...
Hi Dee50

Nice to see you back on the thread and thanks for the mention in despatches, glad you found it helpful as I've found many of your post helpful to my trading too. Thats what its all about at the end of the day, like minded traders helping like minded traders, so thanks for that...

On the topic of like minded traders helping like minded traders I have started a skype trading room with just that in mind. I was wandering if you would like to join it as I'm sure you would be a great help in the room? We already have a few of the guys from your thread here like Matomi, PhillippineFX and Xian to mention just a few, Oh and dear old Harold is there too but now renamed "Darth Vaper Trader" since his deep breathing on his videos...

So if you would like to join then just skype me on clive.packham1 and I'll invite you in....

All the best Clive
Feel the Fear and do it anyway!!!
  • #8,137
  • Jan 31, 2017 5:44am Jan 31, 2017 5:44am
Quoting clivepackham
{quote} Hi Dee50 Nice to see you back on the thread and thanks for the mention in despatches, glad you found it helpful as I've found many of your post helpful to my trading too. Thats what its all about at the end of the day, like minded traders helping like minded traders, so thanks for that... On the topic of like minded traders helping like minded traders I have started a skype trading room with just that in mind. I was wandering if you would like to join it as I'm sure you would be a great help in the room? We already have a few of the guys...
Hey i have been following the thread for a while and was wondering could i join the skype room
  • #8,138
  • Jan 31, 2017 5:45am Jan 31, 2017 5:45am
Market Profile. here is the Indicator I use and a template. It is setup for Pepperstone, they are a GMT+2 Broker so in the section "ShiftbrokerofGMT" I had to set it to"10" being 10am, I wanted each session to coincide with the opening range, I am CET so at 9am my time it is 8am GMT, broker time is 10am (GMT+2) confused? yes so was I. If you are not bothered about the opening range or want to mark it manually set it to 99. One important note. "Lookback" I have set to 10 days, the longer the lookback period the greater the strain on the CPU to the point that it will freeze your computer!!
I also changed the the row height parameters from 8 pips to 4 pips.
The best thing to do is load the template save the "set" file and play around with the default settings, then if you get lost just load the set file or template.
First load the indicator onto a M30 chart (30 minutes) that will give you the Daily Market Profile, if you want to see Weekly press H1(1 hourl) or Monthly press H4(4 hour).
Have fun.
The indicator .ex4 goes into "Indicators" the DLL goes into "Libraries" the mqh goes into "include"
Attached Image (click to enlarge)
Click to Enlarge Name: market profile setup.png Size: 46 KB
Attached File(s)
File Type: rar riv_ay-TPOChart.v102-5.rar   374 KB | 559 downloads
File Type: tpl RIVAY TPO Chart.tpl   435 KB | 519 downloads
Cut your Losers short and let your Winners run.
  • #8,139
  • Jan 31, 2017 5:54am Jan 31, 2017 5:54am
Quoting trade786
{quote} Hey i have been following the thread for a while and was wondering could i join the skype room
Yes of course you can as can any like minded trader as the more the merrier, but theres a few basic rules to adhere to which I will post you when you contact me on skype, once you acknowledge agreement to them I will join you up.

Just request a skype contact to clive.packham1

All the best Clive
Feel the Fear and do it anyway!!!
  • #8,140
  • Jan 31, 2017 5:56am Jan 31, 2017 5:56am
Quoting clivepackham
{quote} Yes of course you can as can any like minded trader as the more the merrier, but theres a few basic rules to adhere to which I will post you when you contact me on skype, once you acknowledge agreement to them I will join you up. Just request a skype contact to clive.packham1 All the best Clive
Yes sure thankyou i will add u now my friend
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