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Simple "Make Pips" Strategy

  • #241
  • May 23, 2017 5:07pm May 23, 2017 5:07pm
Hello from a learner. This looks interesting. Good luck.
Thank you.
Oddbj.
All the best to all of you. But don't follow me. I am a learner.
  • #242
  • May 23, 2017 5:10pm May 23, 2017 5:10pm
Quoting simoneg
GM everyone. I had taken this trade on NZDJPY H4 but was too busy to post. {image}
Keeping an eye on it D long.
All the best to all of you. But don't follow me. I am a learner.
  • #243
  • May 23, 2017 8:45pm May 23, 2017 8:45pm
Hey simoneg one question do you look on Daily timeframe or other else from h4 for your entries?
Everyday better.
  • #244
  • May 24, 2017 5:58am May 24, 2017 5:58am
GM Everyone. Relaxing for now as we got much movement yesterday and things look indecisive. Only eye on EURUSD short.

@arlucad. No H4 only. Less to consider and less confusion. Setup...trade.

@Oddbjorg, that long seems to have worked out well, hope you took it.
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  • #245
  • May 25, 2017 6:12am May 25, 2017 6:12am
Hello everyone. Hope you had a good day of trading yesterday.

I just took three longs on EURJPY, NZDJPY and GBPJPY (still watching previously post short level).
Attached Image(s) (click to enlarge)
Click to Enlarge Name: simpt18.png Size: 18 KB
Click to Enlarge Name: simpt20.png Size: 16 KB
Attached Image
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  • #246
  • May 25, 2017 6:45am May 25, 2017 6:45am
Long GBPUSD H4. Buy level still holding.
Attached Image (click to enlarge)
Click to Enlarge Name: simpt21.png Size: 19 KB
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  • #247
  • May 26, 2017 8:49am May 26, 2017 8:49am
Thanks for sharing this simple yet seemingly powerful system.

I decided to jump head first into this system and placed my first trade on the NZDUSD using your rules -

Attached Image (click to enlarge)
Click to Enlarge Name: IMG_2431.PNG Size: 118 KB


Hopefully I didn't take away from the systems simplicity but I did include Bollinger bands on my chart for further confirmation on shorting this pair.

Two consecutive bearish candles queued me in with signs of a Bollinger bounce. I placed my sell limit at the close of the first candlestick (0.7052), a 15-pip stop loss (0.7067), just above the high of the first candlestick and a 24-pip take profit (0.7028) for now simply by doubling the distance in pips between the first candlesticks close and high.

Lets see how this plays out!
  • #248
  • May 26, 2017 10:44am May 26, 2017 10:44am
Quick update regarding the NZDUSD trade I posted earlier.

Per the screenshot below, there's now a queue to open a long trade on pair two candlesticks later -

Attached Image (click to enlarge)
Click to Enlarge Name: IMG_2432.PNG Size: 109 KB


simoneg, how would you handle a situation like this? Should I look to close my position at a loss, but a smaller loss than if I'd let my stop loss trigger? Would you immediately open a long position? I'd love to know your thoughts.

Thinking back, it probably wasn't appropriate to test this strategy from my mobile on the last few hours of the week prior to a holiday weekend
  • #249
  • May 30, 2017 4:09am May 30, 2017 4:09am
Hello everyone, I went off for a little family time and just returning.
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  • #250
  • May 30, 2017 4:10am May 30, 2017 4:10am
Quoting Sobrien1195
Quick update regarding the NZDUSD trade I posted earlier. Per the screenshot below, there's now a queue to open a long trade on pair two candlesticks later - {image} simoneg, how would you handle a situation like this? Should I look to close my position at a loss, but a smaller loss than if I'd let my stop loss trigger? Would you immediately open a long position? I'd love to know your thoughts. Thinking back, it probably wasn't appropriate to test this strategy from my mobile on the last few hours of the week prior to a holiday weekend ...
Hi Sobrien1195,

One filter which I have added to the strategy is to wait for a test after a close above or below to increase the probability of a successful trade. As you will see with this trade, a test would have made a vast difference.
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  • #251
  • May 30, 2017 4:12am May 30, 2017 4:12am
Quoting simoneg
Hello everyone. Hope you had a good day of trading yesterday. I just took three longs on EURJPY, NZDJPY and GBPJPY (still watching previously post short level). {image} {image} {image}
Longs on these trades were short lived. Unfortunately I did not take the profits and ended up closing -73pips
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  • #252
  • May 30, 2017 4:18am May 30, 2017 4:18am
Short GBPUSD H4.
Attached Image
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  • #253
  • May 30, 2017 4:23am May 30, 2017 4:23am
Short EUR/USD H4.
Attached Image (click to enlarge)
Click to Enlarge Name: SIMPT23.png Size: 16 KB
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  • #254
  • May 30, 2017 4:37am May 30, 2017 4:37am
Short NZDJPY H4.
Attached Image (click to enlarge)
Click to Enlarge Name: simpt24.png Size: 16 KB
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  • #255
  • May 30, 2017 1:25pm May 30, 2017 1:25pm
Closed all trades +20pips
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  • #256
  • Last Post: May 31, 2017 12:06am May 31, 2017 12:06am
Your Broker Time is GMT?
Please excuse the bad English via Google Translate.
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