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This topic contains 439 replies, has 31 voices, and was last updated by  moaied suhail 4 hours, 22 minutes ago.

Viewing 20 posts - 41 through 60 (of 440 total)
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  • #56987

    Raj Vaid
    Participant
    • Topics: 2
    • Replies: 496

    Hi Sebastian – for Kiwi, I believe I entered late on that one and price was already below the ribbon….so I just put my S/L a little lower for breathing room.

    For Gbp – it was a good set-up, but the candle was too long and too far below ribbon – long candles usually re-trace….either you widen your stop, or wait for next entry which happened 4 candles later – this is what I have found works.

    I’ve attached nasdaq chart to show how to re-enter.

    Hope this helps.

    Cheers.

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    #56992

    Sebastian Brandt
    Participant
    • Topics: 0
    • Replies: 281

    Hey Raj,

    do you use this technique for the nasdaq or other indexes a lot?

    #56993

    Raj Vaid
    Participant
    • Topics: 2
    • Replies: 496

    Hi Sebastian – I often use it for nasdaq, I haven’t tried it on other indexes.

    Cheers.

    #56998

    Sebastian Brandt
    Participant
    • Topics: 0
    • Replies: 281

    Thanks very much Raj.

    The nasdaq just broke all-time highs. Just see how they’re kidding us around 🙂 Maybe they provoked this small “crash” on purpose to earn twice haha But Draghi helped a lot I think 🙂

    I’m getting enticed by a long-term position in this index, what’s your view?

    #56999

    Sebastian Brandt
    Participant
    • Topics: 0
    • Replies: 281

    I’d like to ask about the usd/jpy chart just a few minutes ago:

    https://www.mql5.com/en/charts/4163460/usdchf-m15-fxpro-financial-services

    The moving averages are crossing each other, but it’s a big candle. I drew the fibs just around the big candle – is that correct? It retraced 50%. By the time the moving averages move apart from each other (two candles further), we break the previous bearish candle high. Is this a good setup or would you avoid it and why?

    #57001

    Raj Vaid
    Participant
    • Topics: 2
    • Replies: 496

    Great setup! Entry would be at the start of the candle after the red candle because that’s when you get your averages separating.

    First I was racking my brain thinking my chart didn’t look anything like yours, because you said usd/jpy, then I realized you were talking about usd/chf

    🙂

    Cheers.

    #57005

    Raj Vaid
    Participant
    • Topics: 2
    • Replies: 496

    Hi Folks, just a few trades I took during Asian Session. Entries and re-entry examples using this system.

    Cheers.

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    #57009

    Sebastian Brandt
    Participant
    • Topics: 0
    • Replies: 281

    Just wanted to tease you so I said usd/jpy haha 🙂

    Thanks for your help.

    Do you always re-enter when candles go back to or below/above the ribbon like in your nzd/jpy examle? So even after a long time of the moving averages crossing each other.

    #57011

    Raj Vaid
    Participant
    • Topics: 2
    • Replies: 496

    Hi Sebastien I do it once or twice, but you are right you have to be cautious because at some point the smaller TF may have bigger retrace and stop you out.

    So when looking for set-ups, since I trade 5 and 15min charts, I scan my 30 and 60 min charts to see which direction to trade in.

    If 60min chart is below ribbon, I look for sells on the 15min chart and same for 5min chart if the 30 is under the ribbon.

    Cheers.

    #57012

    Barbara D.
    Spectator
    • Topics: 0
    • Replies: 6

    Thanks Raj that makes a big difference. So far stopped out 3 for 3!

    #57013

    Raj Vaid
    Participant
    • Topics: 2
    • Replies: 496

    Ouch….Barbara, if you like, post them and we can see what went wrong.

    Cheers.

    #57014

    Barbara D.
    Spectator
    • Topics: 0
    • Replies: 6

    I will once I figure out how to do that😮

    #57015

    Barbara D.
    Spectator
    • Topics: 0
    • Replies: 6

    I will once I figure out how to do that😮

    #57020

    Barbara D.
    Spectator
    • Topics: 0
    • Replies: 6

    Raj I went short on EUR/JPY at the red candle as the ribbons separated. Stopped out by next candle. Example attached I think!

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    #57029

    Raj Vaid
    Participant
    • Topics: 2
    • Replies: 496

    Hi Barbara, I know that the Daily is in a down trend, but just have a quick peek at the 30 or 60 min chart before entering on the 15 chart. You may not have entered based on what was happening on that time frame.

    This is my only beef with that trade.

    Hope this helps.

    Cheers.

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    #57045

    moaied suhail
    Participant
    • Topics: 1
    • Replies: 438

    hi,

    first attempt 3:1 after some back testing.

    https://charts.mql5.com/9/280/chfjpy-m15-fxpro-financial-services.png

    I think it will go much more if I apply fibo swings system, but playing save for now.

    #57046

    Raj Vaid
    Participant
    • Topics: 2
    • Replies: 496

    Hi Moaied, careful with this one – its sideways and messy for the last 5 days.

    Cheers.

    #57047

    TJ ‘
    Participant
    • Topics: 0
    • Replies: 92

    Hi Raj, just to let you know, so far, so good. I have started on demo today. By following all rules you explained, big candle, 50% retracement, higher TF trend etc. I have some good results. No questions for now. Watch me out later. 🙂 Thanks again man.

    #57048

    Sebastian Brandt
    Participant
    • Topics: 0
    • Replies: 281

    I like that point Raj.

    I noticed that it’s better you leave those charts alone when the candles have lots of shadows to either direction. So they’re just messing around and the SL could get hit easily.

    I’ll post my results after 100 trades, so I have a large sample size and I know whether I’m successful. I’m trading 0.01 lots on a live account. The reason is because it’s the perfect opportunity to see how the broker deals with slippage, SL hunting etc. These small lots do not cost anything, one trade for 50 cents or so if it goes wrong. So I like that better than trying it on demo.

    #57049

    TJ ‘
    Participant
    • Topics: 0
    • Replies: 92

    Sebastian, Do you think that brokers can hunt for micro lots?

    PLease let us know your results.

    Good luck!

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