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Day Trading 101

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This topic contains 486 replies, has 32 voices, and was last updated by Moaied Suhail moaied suhail 3 weeks, 6 days ago.

Viewing 40 posts - 81 through 120 (of 487 total)
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  • #57298
    Raj Vaid
    Raj Vaid
    Participant
    • Topics: 2
    • Replies: 523

    Hi Ambrose, sideways markets are not for this strategy.

    I like Asian pairs, just not the Asian session as its slower than the others.

    5min parent is 30min
    15min parent is 1hr
    30min and 1hr is 4hr
    daily parent is weekly
    weekly parent is monthly

    Hey happy pips on gbp/chf!!! Great to hear!

    Cheers

    #57324
    Raj Vaid
    Raj Vaid
    Participant
    • Topics: 2
    • Replies: 523

    My Post news trades for today, and its been a pleasure folks. Let’s hope next week keeps on giving us good opportunities.

    Cheers.

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    #57328
    Sebastian Brandt
    Sebastian Brandt
    Participant
    • Topics: 0
    • Replies: 415

    Nice Raj, thanks for sharing πŸ™‚

    You’re bold to long the EUR πŸ™‚ But I’m happy to see it worked out. Please keep posting so we can learn more.

    #57329
    A U
    A U
    Spectator
    • Topics: 0
    • Replies: 20

    Hi Raj!

    I considered your entry candlesticks in both pairs too big. What was the conviction for going long with such huge CFs?

    #57330
    Raj Vaid
    Raj Vaid
    Participant
    • Topics: 2
    • Replies: 523

    You guys are right long candles. But do as I say, not as I do πŸ™‚ πŸ™‚ πŸ™‚

    But seriously, for Cad/Jpy, see this chart and you may see why I was looking for a quick short.

    Now for eur/aud, look at the slope of the moving averages – when they create a “W”
    instead of a gradual slope, it means a pretty strong bull/bear decision, and price will move very quickly.

    Sebastian – “Destiny Favours The Bold”

    Cheers.

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    #57339
    Pete Makris
    Pete Makris
    Spectator
    • Topics: 0
    • Replies: 3

    OK Raj, this week, I went 3/9— 3 winners to 9 losers on the M15 time frame. I don’t think the problem is with your system. It really looks good and simple. The problem is “operator error”.
    I need to look at the “parent” time frames as you stated above. I expect to improve next week and am shooting for a 50% success rate for the next few weeks and higher after that.
    My s/l : t/p is about 1:2.
    Thanks for taking the time to post and follow up with everyone.

    #57340
    Raj Vaid
    Raj Vaid
    Participant
    • Topics: 2
    • Replies: 523

    Hi Pete, the smaller TF’s like 5, and 15 are the hardest….30 min has such nice smooth movements.

    Keep me posted.

    Cheers

    #57350
    Pete Makris
    Pete Makris
    Spectator
    • Topics: 0
    • Replies: 3

    Hi Pete, the smaller TF’s like 5, and 15 are the hardest….30 min has such nice smooth movements.
    Keep me posted.

    OK Raj, thanks. I’ll forward test on the M30 next week. Like I said in the previous post, I think this is more “operator error” than anything. Looking forward to better trading in the coming weeks.
    Thanks

    #57353
    Sebastian Brandt
    Sebastian Brandt
    Participant
    • Topics: 0
    • Replies: 415

    I had 5 losers and 8 winners, most of them on the 15 min frame this week.

    I did not have much time – was mainly just one day when I took most of the setups so it might not a result which we can count on. I’ll repeat until we have a sample size of 100 setups, now we only have 13 which is not enough.

    #57833
    Transarm .
    Transarm .
    Participant
    • Topics: 0
    • Replies: 34

    Hi Raj
    I have noticed 2 hours before London open there would be some movements, would you trade those?

    Today I entered a short trade on GBPUSD after London open on 5 minute chart, was in a profitable position whilst aiming for 1:2. Was also waiting 15min chart to form an entry so I could hold on to my position. 90mins later there were fundamental events, the results was somewhat neutral however GBP shot up and hit stop loss. Was sad and could not understand based on fundamentals why it shot up, and that I should’ve closed my position with profit 1:1 based on 5 min chart.

    #57843
    Aariff Kadar
    Aariff Kadar
    Participant
    • Topics: 0
    • Replies: 53

    Hi Raj,

    Thanks for sharing another excellent trading strategy.

    I use Fxcm Tradestation web for my trading. They have something called vertical shift and horizontal shift. I am not sure which one to use. do you have any idea? should i use both to shift the moving average?

    I have not started this in demo, but soon i will go along with Fibs.

    Aariff

    #57908
    Transarm .
    Transarm .
    Participant
    • Topics: 0
    • Replies: 34

    Hi Raj
    Hope you are well.
    I have more questions, please see attached picture.

    Because of broker spreads, I find it very hard to trade this system.
    You think you want 12 pips, but market needs to move 16 pips in order for you to TP 12 pips.
    Is your understanding the same as my picture?

    Have lost 15% of my live account and am very sad.

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    #57917
    Florent Norroy
    Florent Norroy
    Participant
    • Topics: 0
    • Replies: 16

    Transarm,

    I would trade a higher timeframe in this case. If this picture was taken on a 5 minute chart, try a 15 minutes chart and limit your target to 1:1. You should have better results

    #57934
    Aariff Kadar
    Aariff Kadar
    Participant
    • Topics: 0
    • Replies: 53

    Well said florent. I am planning to do this in 1 hour chart on my demo account. Today i saw a potential of 40 pip profit but my order was not triggerred because of different reason. I will trade this in 1 hour or 4 hours. i cannot monitor 15 minutes or 5 minutes.

    Transarm, please try any setup in demo account atleast for a month before going live. higher timeframe will give you more profit and you can cover your spread cost.

    Aariff

    Transarm,

    I would trade a higher timeframe in this case. If this picture was taken on a 5 minute chart, try a 15 minutes chart and limit your target to 1:1. You should have better results

    #57953
    Transarm .
    Transarm .
    Participant
    • Topics: 0
    • Replies: 34

    Hi Florent, Aariff
    Thanks for your comments.
    However, on my 2nd post and picture it IS a 1:1 trade.
    Yes it a 5 minute chart, which is why I am asking the person who is having positive trades on 5min/15min chart to share some answers on spreads.

    #57954
    Transarm .
    Transarm .
    Participant
    • Topics: 0
    • Replies: 34

    Also, it is indeed my error to trade based on someone else’s experience and not testing it on a demo account first.

    #57964
    Raj Vaid
    Raj Vaid
    Participant
    • Topics: 2
    • Replies: 523

    Hi Guys, sorry I’ve been away, and will be for a while still, just checking in.

    Aarif – I’m not familiar with tradestation, so I’m not sure about your question.

    Transarm – sorry to hear about the losses, but always best to demo new strategies until you become proficient at them.

    Try to demo higher TF’s.

    Also guys you can please add RSI, or macd whichever you prefer, this will help you trade in the proper direction.

    I’ve included examples.

    See you soon, cheers.

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    #57968
    Raj Vaid
    Raj Vaid
    Participant
    • Topics: 2
    • Replies: 523

    And an hourly example

    Cheers

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    #57980
    Aariff Kadar
    Aariff Kadar
    Participant
    • Topics: 0
    • Replies: 53

    Hi All,

    I am giving the credit for this 4 trading in demo account to Raj. All trades were from 1 hour chart.

    Aariff

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    #57984
    Sebastian Brandt
    Sebastian Brandt
    Participant
    • Topics: 0
    • Replies: 415

    Very nice Raj, thanks for updating us. I like these examples. I haven’t much time to practice this system but I’ll post here as soon as I have enough examples.

    #57985
    Raj Vaid
    Raj Vaid
    Participant
    • Topics: 2
    • Replies: 523

    Nicely done Aarif!

    Sebastian – okay thanks I’ll look for your post in the future!

    I’m attaching more examples using the rsi divergence, and using the ribbon as our confirmation for entry.

    Hope you like them.

    Cheers.

    Disclaimer: Combining these two strategies together can cause severe swelling of your trading account. Please use amply!

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    #57996
    Sebastian Brandt
    Sebastian Brandt
    Participant
    • Topics: 0
    • Replies: 415

    Amazing Raj πŸ™‚

    One question about your eur/cad and gbp/usd examples: Where was your SL? Above the highs instead of the ribbon? How do you plan your R:R for these divergence trades with the confirmation of your ribbon?

    Do you use an indicator that draws your RSI divergence or do you look out for it yourself?

    Your gbp/jpy chart example is the best, looks like you’re printing money Raj πŸ™‚ Thanks for sharing.

    #57997
    Raj Vaid
    Raj Vaid
    Participant
    • Topics: 2
    • Replies: 523

    Hi Sebastian, I have found in most cases putting the stop just above the ribbon will be safe, but its always best above/below a high/low. So basically your entry to your s/l will equal your t/p.

    But since I look at fib swings also, I may stay in a trade longer.

    I draw my own divergence.

    Cheers.

    #57998
    Sebastian Brandt
    Sebastian Brandt
    Participant
    • Topics: 0
    • Replies: 415

    I like the idea of looking at the higher timeframes and if we are in trend and use the fibs you taught us, we’d have a much higher R:R.

    I’ll do some practice and back-testing – thanks very much for your generosity Raj.

    #57999
    Thomas P.
    Anonymous
    • Topics: 0
    • Replies: 139

    Hi Raj,

    Thanks for sharing another excellent trading strategy.

    I use Fxcm Tradestation web for my trading. They have something called vertical shift and horizontal shift. I am not sure which one to use. do you have any idea? should i use both to shift the moving average?

    I have not started this in demo, but soon i will go along with Fibs.

    Aariff

    Aariff,
    Where did you find a vertical or horizontal shift on the Web Trading Station?
    For now, the best way i’ve found is to learn how to use MT4… πŸ™‚

    #58010
    Florent Norroy
    Florent Norroy
    Participant
    • Topics: 0
    • Replies: 16

    Raj,

    I have been backtesting that strategy on daily timeframe from 2015-01-01 until today, on 8 pairs, and I was quite AMAZED at the efficieny of the strategy.

    For my backtesting, basically applied the strategy without regard to the size of the candle (took the trade without waiting for retracement on (very) long candles). First picture illustrate the type of trades I took, the second the ones I did not. I did not take any continuation trades either (pictures are clickable)


    Detailed results are in the picture below.

    Out of the pairs only one ended up negative at the end of the year even though there were more winning than losing trades.

    So on average, all pairs combined, the system won a net total of 3716 (pips won – pips lost), 69 winning trades for 33 winning trades and an average efficiency of 67,65%.

    I can provide the complete list of trades taken for backtesting if you want (or those who want to). In regards to this results, I am definetely incorporating this strategy in my toolbox.

    Thank you for the great strategy.

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    #58040
    Raj Vaid
    Raj Vaid
    Participant
    • Topics: 2
    • Replies: 523

    Hi Florent, thank you for the back test. It must have taken some time to do this, and I appreciate your hard work on that. I’m glad you see merit in it.

    Hope you make a lot of pips with it, thanks again.

    Cheers.

    #58041
    Jauhar Ali
    Jauhar Ali
    Spectator
    • Topics: 0
    • Replies: 1

    Hi Florent,
    Thanks for sharing the back test results. Can you please explain the criteria for NOT taking the trades? I mean why the trade in the 2nd picture should not be taken?

    Jauhar

    #58042
    Sebastian Brandt
    Sebastian Brandt
    Participant
    • Topics: 0
    • Replies: 415

    I can’t see much on the chart but since it is eur/usd I’d assume it’s because going long would be against the trend?

    #58156
    Aariff Kadar
    Aariff Kadar
    Participant
    • Topics: 0
    • Replies: 53

    Hi Thomas,

    Shift_I is separate indicator. I wish i can use MT4 at my office.

    Aariff

    Hi Raj,

    Thanks for sharing another excellent trading strategy.

    I use Fxcm Tradestation web for my trading. They have something called vertical shift and horizontal shift. I am not sure which one to use. do you have any idea? should i use both to shift the moving average?

    I have not started this in demo, but soon i will go along with Fibs.

    Aariff

    Aariff,
    Where did you find a vertical or horizontal shift on the Web Trading Station?
    For now, the best way i’ve found is to learn how to use MT4… :)

    #58160
    Florent Norroy
    Florent Norroy
    Participant
    • Topics: 0
    • Replies: 16

    Hi Florent,
    Thanks for sharing the back test results. Can you please explain the criteria for NOT taking the trades? I mean why the trade in the 2nd picture should not be taken?

    Jauhar

    Hey Jauhar,

    I did not take those trades in my back testing because the candle did not forned through both moving averages but in that example was formed above

    #58161
    Thomas P.
    Anonymous
    • Topics: 0
    • Replies: 139

    Thanks Aariff!

    #58163
    Raj Vaid
    Raj Vaid
    Participant
    • Topics: 2
    • Replies: 523

    Hi Folks, Mondays are painfully slow for trading, but there was a nice set-up on the 5min chart, maybe some of you took it.

    Cheers.

    Attachments:
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    #58169
    Raj Vaid
    Raj Vaid
    Participant
    • Topics: 2
    • Replies: 523

    Near the end of the day, euro managed to give another trade on the 30min chart.

    Cheers.

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    #58180
    Sebastian Brandt
    Sebastian Brandt
    Participant
    • Topics: 0
    • Replies: 415

    Many thanks for the examples Raj.

    #58183
    Florent Norroy
    Florent Norroy
    Participant
    • Topics: 0
    • Replies: 16

    Great job Raj.

    #58196
    Jae Task
    Jae Task
    Spectator
    • Topics: 0
    • Replies: 13

    Good work Raj, I am looking at this at the moment. I am still having trouble getting the system to work, Maybe its just a choppy day πŸ™‚

    Can I ask? Do both SMAs work off the “Typical Price” or just the First SMA with no Shift?

    #58199
    Raj Vaid
    Raj Vaid
    Participant
    • Topics: 2
    • Replies: 523

    Hi Jae, both SMA’s are typical

    Cheers

    #58200
    Jae Task
    Jae Task
    Spectator
    • Topics: 0
    • Replies: 13

    Thanks Raj, that makes sense. This helped me a lot actually, I think I was trying to over complicate things. Ive gone with your method of the dual 15M and 60M timeframes but have also plotted the 60M SMAs on the 15M chart for additional confirmation.

    Now that I am understanding your use of RSI divergence it is way more profitable.

    Excellent work, thank you.

    #58201
    Jae Task
    Jae Task
    Spectator
    • Topics: 0
    • Replies: 13

    And here is the attachment which shows both on one screen. The darker SMAs are the 60M on the 15M timeframe..

    Once again thanks raj, really excellent work.

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