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Simple Break System

  • #21
  • Mar 13, 2017 1:48pm Mar 13, 2017 1:48pm
Quoting Beamen
Did someone entered this on eur usd (H1) ? Is it right or not? Thanks {image}
Yes it's right, i'm in:

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD H1 (03-13-2017 1947).png Size: 45 KB
  • #22
  • Mar 13, 2017 1:50pm Mar 13, 2017 1:50pm
Quoting burat
Where to place exit
Money management it's personal, you can use take profit or moving average break or trailing stop or what you want
  • #23
  • Mar 14, 2017 5:58am Mar 14, 2017 5:58am
Good simple system. I use something similar which involves a cross of 8ema with a 21ema then wait for a pullback to the 21ema for entry.
At the pullback I look for a confirmation in the form of a pinbar, inside bar or engulfing bar in the direction of the ema cross. If it doesn't happen wait for another one.
Stop loss is on the other side of the confirmation candlestick.

Cheers
Hop
  • #24
  • Mar 14, 2017 11:33am Mar 14, 2017 11:33am
I take 50% of my position and set breakeven


Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD H1 (03-14-2017 1732).png Size: 50 KB
  • #25
  • Mar 14, 2017 12:25pm Mar 14, 2017 12:25pm
Quoting Stonyheart
I take 50% of my position and set breakeven {image}
Sweet. Did you add to your position at the first ''bounce''?
  • #26
  • Mar 14, 2017 12:27pm Mar 14, 2017 12:27pm
Quoting lemercenaire
Hi Stonyheart. I love KISS methods, so nice to see this. I would say that what you are doing is basically the third stage of the old 3-Ducks method and this can be a way to increase your entry success percentages. If you are not familiar, then you run 3 tfs, if you are entering on the H1, then it would be H1, H4 and Daily. Set sma20 on all. Wait for price to be on same side of the two top time-frames, then drop to your entry tf (H1). Wait for price to cross over onto the same side as the other two and then run as you note...so wait for pull-back...


your idea can be easily implemented on 1 single chart..
say using sma 20 on daily, h4 and h1.
we have to open a h1 chart and use sma 480 [which represents sma20 on daily chart], next sma 80 [which represents sma 20 on h4 chart] and sma 20.
so on one chart we have sma for all 3 tf.

Attached Image (click to enlarge)
Click to Enlarge Name: 3SMA ON H1.jpg Size: 138 KB
just my 2 cents
  • #27
  • Mar 14, 2017 12:29pm Mar 14, 2017 12:29pm
Quoting lemercenaire
{quote} Sweet. Did you add to your position at the first ''bounce''?
No, i take the first signal only to take the trend at the beginning. For me other signals are too late, it's more risky, you never know when the price will turn.
  • #28
  • Mar 14, 2017 1:47pm Mar 14, 2017 1:47pm
Quoting Stonyheart
{quote} No, i take the first signal only to take the trend at the beginning. For me other signals are too late, it's more risky, you never know when the price will turn.
Fair enough. Good shout.
  • #29
  • Mar 14, 2017 1:51pm Mar 14, 2017 1:51pm
Quoting Bobby.fx
{quote} your idea can be easily implemented on 1 single chart.. say using sma 20 on daily, h4 and h1. we have to open a h1 chart and use sma 480 [which represents sma20 on daily chart], next sma 80 [which represents sma 20 on h4 chart] and sma 20. so on one chart we have sma for all 3 tf. {image}
I'm aware. Someone's already mentioned it also.

The original concept (of Three Ducks) was that as the price lined up, you would move to the next ''duck'', so you could quickly scan your charts and when you saw the m5 chart open, you knew that that was a pair being ready to trade.

Comes ultimately down to personal choice and which style you like best - not that it matters here anyway, as that's not the method being traded.
  • #30
  • Mar 14, 2017 2:31pm Mar 14, 2017 2:31pm
Trading pullbacks is a solid and consistent strategy. It's my go-to method for pulling in those green pips.
  • #31
  • Mar 14, 2017 3:16pm Mar 14, 2017 3:16pm
Sir, have you any filtering or its only crossing + pullback setup.

Can you analyzing this situation ?

Attached Image (click to enlarge)
Click to Enlarge Name: 1.png Size: 50 KB



Thank you
Working,to be the best !
  • #32
  • Mar 14, 2017 3:37pm Mar 14, 2017 3:37pm
Quoting Saygin-TR
Sir, have you any filtering or its only crossing + pullback setup. Can you analyzing this situation ? {image} Thank you
Don't trade pullbacks on M5, that would be my filter.
  • #33
  • Mar 14, 2017 6:04pm Mar 14, 2017 6:04pm
Quoting ChicagoRob
{quote} Don't trade pullbacks on M5, that would be my filter.
So where do you trade pullbacks then? How do you know its pullback and not going straight?
  • #34
  • Mar 14, 2017 11:47pm Mar 14, 2017 11:47pm
Quoting mario777
{quote} So where do you trade pullbacks then? How do you know its pullback and not going straight?
For me, H1 and higher - preferably higher. You have to look at market structure. I trade D1 and zoom out to W1, to see what the market bias is. I also like to see a a good angle on the MA. If it's flat, I stay away. Also, after a pullback, bullish/bearish engulfing bars can help to determine price action.
  • #35
  • Mar 15, 2017 1:18am Mar 15, 2017 1:18am
Hi Stonyheart,

Thanks for the system. My first try and having great results!
Attached Image (click to enlarge)
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  • #36
  • Mar 15, 2017 2:16am Mar 15, 2017 2:16am
Quoting Saygin-TR
Sir, have you any filtering or its only crossing + pullback setup. Can you analyzing this situation ? {image} Thank you
I don't trade m5 timeframe it's too volatile and stay away from major news
  • #37
  • Mar 15, 2017 2:17am Mar 15, 2017 2:17am
Quoting Apost
Hi Stonyheart, Thanks for the system. My first try and having great results! {image}
Nice !
  • #38
  • Mar 15, 2017 2:52am Mar 15, 2017 2:52am
May I ask how to set profit target and stoploss?
Thanks!
  • #39
  • Mar 15, 2017 4:45am Mar 15, 2017 4:45am
Quoting Bobby.fx
{quote} your idea can be easily implemented on 1 single chart.. say using sma 20 on daily, h4 and h1. we have to open a h1 chart and use sma 480 [which represents sma20 on daily chart], next sma 80 [which represents sma 20 on h4 chart] and sma 20. so on one chart we have sma for all 3 tf. {image}
In the period H4 the sma is 120 and no 80.
  • #40
  • Mar 15, 2017 4:46am Mar 15, 2017 4:46am
interesting strategy, could u post more examples please?
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