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More simple is impossible

  • #8,461
  • Mar 3, 2017 3:04am Mar 3, 2017 3:04am
DAX Gap Fill 41+25. All for today. CU.
Attached Image (click to enlarge)
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Cut your Losers short and let your Winners run.
  • #8,462
  • Mar 3, 2017 3:09am Mar 3, 2017 3:09am
Thanks, Dee!
have a good weekend
  • #8,463
  • Mar 3, 2017 5:16am Mar 3, 2017 5:16am
Missed this cause I had to step out.
I know I would've taken the trades...both, upside and downside.

Is that right? either upside and downside? there's no preconceived notion of where most likely to go?
Thoughts?

I see a lot of these patterns. No entry just because of descending or ascending TL...but right after the breakout of the descending of ascending TL AND horizontal line from previous high or low. The payout always seems good compares to the risk.
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  • #8,464
  • Mar 3, 2017 5:38am Mar 3, 2017 5:38am
Quoting PappaJack
Missed this cause I had to step out. I know I would've taken the trades...both, upside and downside. Is that right? either upside and downside? there's no preconceived notion of where most likely to go? Thoughts? I see a lot of these patterns. No entry just because of descending or ascending TL...but right after the breakout of the descending of ascending TL AND horizontal line from previous high or low. The payout always seems good compares to the risk. {image}
This channel took 2 hours to form.....the breakout would have got you in earlier...
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  • #8,465
  • Mar 3, 2017 7:00am Mar 3, 2017 7:00am
Nice clean chart!

I downloaded the templates from this thread and I wanna delete the heiken ashi in my 10pips renko by deleting 1 min clives heiken ashi indicator.
I did that but my chart is not showing renko but showing regular bar chart. What gives?
but my 5 renko is just fine. Advice, please?

My apologies for the technical software questions. I'm new with MT4 and I just want my chart to look clean and just start trading based on prices alone
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Click to Enlarge Name: 1.png Size: 43 KB
  • #8,466
  • Mar 3, 2017 7:37am Mar 3, 2017 7:37am
Quoting PappaJack
Nice clean chart! I downloaded the templates from this thread and I wanna delete the heiken ashi in my 10pips renko by deleting 1 min clives heiken ashi indicator. I did that but my chart is not showing renko but showing regular bar chart. What gives? but my 5 renko is just fine. Advice, please? My apologies for the technical software questions. I'm new with MT4 and I just want my chart to look clean and just start trading based on prices alone {image}
Just change it to Candle in the Tool Bar, you have it set to Bar. Probably LH side of your tool bar 3 symbols Bar/Candle/Line
Cut your Losers short and let your Winners run.
  • #8,467
  • Mar 3, 2017 7:42am Mar 3, 2017 7:42am
GER30. +36+27+24+17+18+17+16. Just a bit of fun. Came back to see the US30 heading down, DAX follows. When the first trade got into profit I could not resist adding as basically there was nothing to lose, any potential losers would be covered by the first trade running on. As it was maximum DD was 3 pips.
Attached Image (click to enlarge)
Click to Enlarge Name: GER30+36+27+24+17+18+17+16 030317.png Size: 48 KB
Cut your Losers short and let your Winners run.
  • #8,468
  • Mar 3, 2017 7:47am Mar 3, 2017 7:47am
I have asked uncle google and even youtube to no avail...but uncle dee came to the rescue

Thanks again, Dee!
  • #8,469
  • Mar 3, 2017 7:52am Mar 3, 2017 7:52am
damn those numbers really add up. I can see myself getting 20-25pips in one move...but more than that? My heart been broken too many times seeing those plus 25 turn to only 5

I see that you add position...so instead of averaging down, you average up...maybe that's what I've been doing wrong.
  • #8,470
  • Mar 3, 2017 8:00am Mar 3, 2017 8:00am
Quoting PappaJack
damn those numbers really add up. I can see myself getting 20-25pips in one move...but more than that? My heart been broken too many times seeing those plus 25 turn to only 5 I see that you add position...so instead of averaging down, you average up...maybe that's what I've been doing wrong.
I got a bit carried away with adding on, I think the alcohol free beer I had whilst I was out, went to my head. I would normally only add on clear pullbacks but this time because I had a good start with the overnight trades and then the GAP fill trades I had plenty in the pot so I was a bit care free and if I ended up at BE that was OK.

Averaging down is always wrong!! Cut losers fast enough so that you donīt feel compelled to average down.
Cut your Losers short and let your Winners run.
  • #8,471
  • Mar 3, 2017 8:30am Mar 3, 2017 8:30am
Quoting dee50
{quote}Cut losers fast enough so that you dont feel compelled to average down.
will take this to heart!
  • #8,472
  • Mar 3, 2017 9:03am Mar 3, 2017 9:03am
Quoting dee50
GER30. +36+27+24+17+18+17+16. Just a bit of fun. Came back to see the US30 heading down, DAX follows. When the first trade got into profit I could not resist adding as basically there was nothing to lose, any potential losers would be covered by the first trade running on. As it was maximum DD was 3 pips. {image}
Hi Dee!

new here. I am wondering would you have taken the Long right around 12020 before you began your short position?

since there was a Dbl Btm+ divergence.

Thanks!
  • #8,473
  • Mar 3, 2017 9:42am Mar 3, 2017 9:42am
have started hands on this system.

seems pretty promising.
i liked this system for small DD and numerous opportunities.

some fast questions:
1. are you guys doing all manual entry? or are you guys letting an EA manage the trades thereafter? i had to constantly monitor to shift my SL for this method. pretty stressful. lol
2. any gd time period for system? london / ny open? or anytime?
3. For entries, i know we refer to higher tf and then look for entries at renko chart. is a pullback preffered first at the renko chart? especially for strong uptrend or down trend? i noticed it generally gives higher probability of green pips but downside is we could miss the entire trend if there is no pullback. any thoughts?
  • #8,474
  • Mar 3, 2017 10:43am Mar 3, 2017 10:43am
Quoting WootWoot
{quote} Hi Dee! new here. I am wondering would you have taken the Long right around 12020 before you began your short position? since there was a Dbl Btm+ divergence. Thanks!
There were 2 Dbl Btms in this down move, if I had been there I would have scalped them for a few pips, why not more I hear you ask. because neither of them was at a significant level, they were in no mans land indicating that these were only Pullbacks not reversals.
Attached Image (click to enlarge)
Click to Enlarge Name: DBL BTM + Div.png Size: 57 KB
Cut your Losers short and let your Winners run.
  • #8,475
  • Mar 3, 2017 10:49am Mar 3, 2017 10:49am
Quoting firsttimer
have started hands on this system. seems pretty promising. i liked this system for small DD and numerous opportunities. some fast questions: 1. are you guys doing all manual entry? or are you guys letting an EA manage the trades thereafter? i had to constantly monitor to shift my SL for this method. pretty stressful. lol 2. any gd time period for system? london / ny open? or anytime? 3. For entries, i know we refer to higher tf and then look for entries at renko chart. is a pullback preffered first at the renko chart? especially for strong uptrend...
1. Sleeptight. Milanese APTM, TMTools. look in attachments. Some do some donīt, I use Milanese but not to trail only for BE.
2. Cash Open/Ny Open/Anytime there is good PA. In that order
3. You answered your own question. But then you countered it with FOMO. What would you prefer, High Probability Low DD or Chasing a Trend that could reverse at any time?
Cut your Losers short and let your Winners run.
  • #8,476
  • Mar 3, 2017 10:50am Mar 3, 2017 10:50am
Nighty Nite. Have a good weekend.
Cut your Losers short and let your Winners run.
  • #8,477
  • Mar 3, 2017 2:09pm Mar 3, 2017 2:09pm
DAX +15

Last one this week, great to see new guys coming to thread with considerable interest about this trading style, just keep studying, do trades everyday - and DON'T ask why, just mark in your chart with simple notes clues on which you based your entries and be teacher to yourself .

Enjoy your weekend !
Attached Image (click to enlarge)
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  • #8,478
  • Mar 3, 2017 7:14pm Mar 3, 2017 7:14pm
Hello Dee,

On your last chart, how do you draw that 3 blue lines channel?

It looks like a tricky flag pattern, but those channel lines would really help to stay on the right side of price.

Any custom indi for that?

My ideas is to ct a failed flag pattern back into the channel. Will that work as a low risk, high probability trade?
  • #8,479
  • Mar 4, 2017 12:46am Mar 4, 2017 12:46am
Quoting PappaJack
Hello Dee, On your last chart, how do you draw that 3 blue lines channel? It looks like a tricky flag pattern, but those channel lines would really help to stay on the right side of price. Any custom indi for that? My ideas is to ct a failed flag pattern back into the channel. Will that work as a low risk, high probability trade?
Right click on a symbol in Line Studies on your tool bar. A Drop Down opens, click on Customize. A selection box opens as per image. You are looking for Fibonacci Channel. that is what I use. Set it to 1. There are other options, as with all things use what you want.

Look back on your charts, is a CT back into the channel or failed flag a low risk option, depends on whether it is a trap or not. You will not know that until it is sprung. Is it a potential Breakout Pullback Continuation? BPC.
Attached Image (click to enlarge)
Click to Enlarge Name: Tool Bar.png Size: 30 KB
Cut your Losers short and let your Winners run.
  • #8,480
  • Mar 4, 2017 4:35pm Mar 4, 2017 4:35pm
Thank u, Dee!

Currently re-reading crucial point's thread that u recommended. What a revelation
I'm planning to read them a couple more times until I feel them ingrained in my mentality
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