Simplistic Trading System - page 5
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Hi ejoi
Thank you for posting your system.
Can you post the mq4 files? So I can see what it is based on?
Many thanks
Smeden
Hi ejoi
Thank you for posting your system.
Can you post the mq4 files? So I can see what it is based on?
Many thanks
SmedenSure. Its on the first page.
How I trade
I trade in the direction of the arrow within the daily range and using the levels as target.
This looks like a great system.
I have a few questions-
1. What does "I trade within the daily range" mean?
Today's range or yesterday's?
If today's range, wouldn't it be impossible to be outside of today's range?
2. What levels do you use as targets? The support and resistance levels?
If so, which ones? The nearest to your entrance?
3. Do these arrows form before the bar is completed?
If they do, when do you enter? As soon as you see the arrow or after the bar is completed?
Thank you
1. What does "I trade within the daily range" mean?
Today's range or yesterday's?
If today's range, wouldn't it be impossible to be outside of today's range?
They are the average daily range. There are times during big strong news events that price will just break that range and be outside of the range.
2. What levels do you use as targets? The support and resistance levels?
If so, which ones? The nearest to your entrance?
Within the range... support and resistance levels.
3. Do these arrows form before the bar is completed?
If they do, when do you enter? As soon as you see the arrow or after the bar is completed?
Don't rely on the arrow toooo much. Either way, it helps u to decide to stay in the trade or stay out of the trade.
So, really shouldn't be trading off of those arrows then? Just work off of the Pivots, is that the plan basically.
1. What does "I trade within the daily range" mean?
Today's range or yesterday's?
If today's range, wouldn't it be impossible to be outside of today's range?
They are the average daily range. There are times during big strong news events that price will just break that range and be outside of the range.
2. What levels do you use as targets? The support and resistance levels?
If so, which ones? The nearest to your entrance?
Within the range... support and resistance levels.
3. Do these arrows form before the bar is completed?
If they do, when do you enter? As soon as you see the arrow or after the bar is completed?
Don't rely on the arrow toooo much. Either way, it helps u to decide to stay in the trade or stay out of the trade.So, really shouldn't be trading off of those arrows then? Just work off of the Pivots, is that the plan basically.
That depends on how u see the chart. The way i trade is using hit and run or set and forget tactic.
If u think its the same... so be it... ive got nothing to do with that thread.
well,i just curious to know only.no offence here.by the way,which timeframe and pairs most suitable for it?
Can you give us an example of both scenarios and when the arrows come into play, if you shouldn't just go off of their signals?
Thanks..
Marc
That depends on how u see the chart. The way i trade is using hit and run or set and forget tactic.
That depends on how u see the chart. The way i trade is using hit and run or set and forget tactic.
You're losing me now.
If you don't use the arrows, what do you use?
If you use "set and forget", when do you set? What causes you to enter a trade?
Hello Ejoi,
Thanks for your sharing your system. I have some questions:
1) When you see the entry arrows, where do you enter - the Close of the candle or the Open of the next candle?
2) Do you use market order to enter?
Thanks.
That depends on how u see the chart. The way i trade is using hit and run or set and forget tactic.