The first retracement is your good friend!

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The trend is your freind, all of us have heard that. It's right, but I say: The first retracement is your good friend, sure!

I have worked with a very simple system which is called "World simpliest system" by someone nicknamed Teb63... LOL... I don't know who he is but the system is great indeed and I would ike to sys thank to him. It's great maybe because it tells the sentence: The trend is your friend! The trend here is indicated with 200EMA on many timeframes, so it's very reliable. However, sometimes the system fails, ofcourse It's the reason we not only need a friend but we need a good friend! The first retracement is your good friend, sure! I always trade the first retracement and always win so far since I tried the way.

The idea is ok, right? BUt it's so hard to code. How to code THE FIRST RETRACEMENT into our EA?

Maybe next week, we'll test with some trades to clear the idea: The first retracement is our good friend...

And everybody, all of of can share here any idea about that. Or you can show your trades at the first retracement only with your trading system.

Nive weekend!

 

Example

For example:

I am waiting for a Long signal on E/U M5 now. Price is now returning to it's major uptrend after breaking 200EMA on M5 chart. I'm waiting for the 1st retracement to enter.

Let's see what happens.

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Any one caught this move? A very quick +20 pips! However, this is not a typical signal because the first retracement crossed back 200EMA.

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Toay day maybe we'll have a signal on E/U M15. Price has broken down 200EMA and now returns upward. Still waiting, I don't know whether it really wants to go up again today If it breaks up 200EMA successfully, wait for the first retracement to BUY!

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I'll catch this 20 pips move. This is also not a typical "fisrt retracement" because the retracement broke down 200EMA, so I can only hope for a 20 pips profit only .

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fxngold:
I'll catch this 20 pips move. This is also not a typical "fisrt retracement" because the retracement broke down 200EMA, so I can only hope for a 20 pips profit only .

Successully took profit this trade, +20 pips. It's rather soon however it's a 20 pips staying in our pocket

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I have a quick trade on E/U M1 timeframe. Price is returning to up-trend after breaking down 200EMA. The first retracement is a chance to enter the market.

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fxngold:
I have a quick trade on E/U M1 timeframe. Price is returning to up-trend after breaking down 200EMA. The first retracement is a chance to enter the market.

Took profit 10 pips!

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Anyone catch this bus for 50 pips with me?

On H1 chart, USD/CHF is returning to the up-trend. I hope this is a right entry; the TP set below the nearest resistance maybe ok...

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