100-300 Pips Per Day Any Pair Any Timeframe Using 2 Indicators - page 20
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
Hi Joesmoe,
I enjoy reading your posts, please keep up your good work.
I have removed my previous posts in this thread so as not to interfere with your work.
All the best
Xard777
Joesmoe you are the best !
I stop posting immediatly on your thread !
Don't mix the 2 trades. I use the 2 trade the most. I use the #1 trade for when I miss the opportunity with the Mac D and then I just wait to see if trade #1 breaks S/R. If you were to have taken that trade when it crossed the S/R in your 1hr image example you would have made some good pips. I personally like trade #1 in 5 minute charts.
You are correct in saying that the Mac D is 4 bars late but they are not used together. Reread #1 and #36. Each trade has a set of rules. See them as there own. Trade one at a time as you have the rules in your mind. Once your good with that one then practice trading the other. It's easy to mix them together. I hope that helps. Come back if that did not help.
JSThanks for the explanations. I will concentrate my efforts on the 1 hr charts with system #2. The signals are clear to me as long as they are not too far apart, like more than 2 candles otherwise it's getting out of the system (if I understand what you say).
Like in my last image, the first entry signal is 1 candle after the #3 ball. That system seems to be well suited for 1 hr charts. I've been following 1min chart with it and the ball indicator is repainting very badly. I think that's what rossiya is trying to say. Your system #1 should be better for scalping.
Chamane
krock,
Thank you for what you said.
Now that you are only talking about the atr and not every indicator known to forex.
I would love to hear about what you have learned from your friend about atr.
Thanks,
JSHey joe, well it is in the keep it simple rule, atr shows a value, i use that value to set my stops and my profit target from whereever i enter my postion.#1. it keeps me in tune with the market volitality #2. it doesn't have me guessing when to get out. So i can enter a trade set my stop set my limit and wait for either to get hit. If you are alittle more aggressive you can set you limits to 2x the atr. But never change your stoploss. If your atr is reading 20 your stop is atr+1+spread and your target would be 1atr=20 or 2x atr=40. If you are using 2x the atr for your take profit move to break even after your first atr value is hit. Have to protect your accounts. So atr value is 30 = stop is 30+1+spread take profit is 60 once trade moves to 30 stop goes to breakeven.
Simple as that!! I use the atr value of 20.
Hey joe, well it is in the keep it simple rule, atr shows a value, i use that value to set my stops and my profit target from whereever i enter my postion.#1. it keeps me in tune with the market volitality #2. it doesn't have me guessing when to get out. So i can enter a trade set my stop set my limit and wait for either to get hit. If you are alittle more aggressive you can set you limits to 2x the atr. But never change your stoploss. If your atr is reading 20 your stop is atr+1+spread and your target would be 1atr=20 or 2x atr=40. If you are using 2x the atr for your take profit move to break even after your first atr value is hit. Have to protect your accounts. So atr value is 30 = stop is 30+1+spread take profit is 60 once trade moves to 30 stop goes to breakeven. Simple as that!! I use the atr value of 20.
krock,
Thank you for your explanation of how you use the atr. If at all possible could you explain it with a image for all of us that are visual.
Thanks again,
JS
Thanks for the explanations. I will concentrate my efforts on the 1 hr charts with system #2. The signals are clear to me as long as they are not too far apart, like more than 2 candles otherwise it's getting out of the system (if I understand what you say).
Like in my last image, the first entry signal is 1 candle after the #3 ball. That system seems to be well suited for 1 hr charts. I've been following 1min chart with it and the ball indicator is repainting very badly. I think that's what rossiya is trying to say. Your system #1 should be better for scalping.
Chamanechamane,
I only use 1hr charts with my 2nd trade Set up. The 1st trade set up works with all time frames and all pairs. I perfer 5 minute charts to any other time frame. This does not mean that I don't take them in the 1hr time frame either.
One thing you can look at is wait tell the price crosses the S/R in the 1hr. You can then go to a lower time frame and do the same thing to tighten your entry.
JS
Hi Joesmoe,
I enjoy reading your posts, please keep up your good work.
I have removed my previous posts in this thread so as not to interfere with your work.
All the best
Xard777xard777,
Thanks for your show of class.
I hope to see you post more on this thread about the 2 trade set ups and the issues surrounding them. No matter what they are we all see your trying to keep the theme of the thread and had no ill intentions.
Thanks again and please keep posting.
JS
Joesmoe you are the best !
I stop posting immediatly on your thread !
Big Joe,
Thank you; there is a time and place for all things.
I hope if you have anything to add it will be in the spirit of the forum.
JS
Here is a pic of atr
Here is a pic of atr
krock,
This might be a great answer to everyones take stoploss and take profit. This is quick, easy, and takes out emotion. Thats always a good thing in trading.
I use a variety of things to determine stoploss and take profit. Bol Bands, SHI Trend Channel, Fibs etc. Those take a little practice to determine. This on the other hand might be the K.I.S.S. that goes right along with both trade set ups.
Thanks again for your contribution.
JS
P.S. I included a picture to see if I understood you correctly.