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High Reward to Risk Trading

  • #201
  • May 16, 2016 3:22pm May 16, 2016 3:22pm
Quoting abokwaik
{quote} An LVC is closed when it's OPEN price is hit by any following candle..
Thank you!

Quoting abokwaik
{quote}Good luck with your NU trade.
Just closed it out -6 to late in the day. We'll get'em tomorrow buddy!
Find The Pain Points On Your Chart & Trade Off Those Levels
  • #202
  • May 16, 2016 4:32pm May 16, 2016 4:32pm
Quoting abokwaik
This is the indicator version of Need4Speed EA (Bull Bear Power). {image} For more details on how this works, please refer to Need4Speed thread. {file}
When i put this indicator on my chart it stays alive until the next ticket then disappears. Can you help?
  • #203
  • May 17, 2016 3:06am May 17, 2016 3:06am
Quoting Mham2k
{quote} When i put this indicator on my chart it stays alive until the next ticket then disappears. Can you help?
Strange ..
Check Experts and Journal tabs for errors.
No guts, no glory
  • #204
  • May 17, 2016 3:13am May 17, 2016 3:13am
Be patient on profits, let profits run.

EJ Example from yesterday.

Note that a move to BE would get you out of the trade at BE and even miss the 2:1 RR, not to mention 6:1 RR.

Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYH1.png Size: 55 KB
No guts, no glory
  • #205
  • Edited 9:50am May 17, 2016 3:15am | Edited 9:50am
Tip : Enter in the place of your planned stop.

Live example, just now. (on Gold).

Attached Image (click to enlarge)
Click to Enlarge Name: GOLDM15_enter_at_SL.png Size: 47 KB


Proof of concept. (within 3 hours)

This is exactly what I am talking about. It happens most of the time.
This one reached 5:1 RR so far.

Attached Image (click to enlarge)
Click to Enlarge Name: GOLDM15_2.png Size: 45 KB


After 6 hours, reached > 10:1 RR.

Attached Image (click to enlarge)
Click to Enlarge Name: GOLDM15_enter_at_SL_2.png Size: 47 KB
No guts, no glory
  • #206
  • Edited 8:41am May 17, 2016 8:06am | Edited 8:41am
Hey Khalil,

Offering tips now, ha.
You missed up AGAIN on Gold Yesterday, didn't you ?

Khalil : Why ?

Abokwaik : You tried to catch the falling knives, and luckily you got away with it this time.

Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSDM15_FK.png Size: 44 KB


Khalil : Oh, that one. But the daily was still up.

Abokwaik : Really, And how many Bearish Impulses were at that candle ?

Khalil: 15.

Abokwaik : And how many Bullish Impulses ?

Khalil: 3.

Abokwaik : 3 against 15, and you're a good guy, so you stood up with the poor ones ?
Abokwaik : Are you a CB, a HF or maybe you have very deep pockets that I don't know about.
Abokwaik : You're nothing but a small drop in the ocean. A weak wind can blow you away.

Khalil : I thought ...

Abokwaik : Stop It !. You are here to sell tops, and buy bottoms using PRICE ACTION, not your thoughts. Your target is High Reward, Low Risk.
Abokwaik : Don't play games with me. And why the hell you keep trading Gold. So far it costed you -10% ?

Khalil : OK, I learned my lesson.

Abokwaik : Sure. And how many times you have to learn your lesson?

Abokwaik : NEW RULES:

 

  1. If you insist on trading Gold, I allow you max 2 trades per day. And please user a reasonable SL.
  2. Follow your system. You've seen it.
  3. Don't enter unless :

    1. there is an clear imbalance in bull/bear power.
    2. target LVCs are within a good range.



  4. Take partial profit at 2:1 RR, and let the remaining position run, at least 6:1 RR.

No guts, no glory
  • #207
  • May 17, 2016 8:12am May 17, 2016 8:12am
"Enter in the place of your planned stop". Sir, That's the way to go. No immediate jump in the trade. Let the price reach the area of your liking. Then let it play. Believe me a very relax way of trade. You will never regret for such a lose.
Forex; the game of movements not the game of candles.
  • #208
  • May 17, 2016 8:14am May 17, 2016 8:14am
Quoting abokwaik
{quote} Strange .. Check Experts and Journal tabs for errors.
I figured it out, one of my custom indicators was causing this to blow up
  • #209
  • May 17, 2016 8:45am May 17, 2016 8:45am
OK, after 9 days, we're finally in the green, managing to recover last week's loss plus small profit.
But we're still very far from our target.
Currently our Average Winner = Average Loss.
This should change to at least : Average Winner = 3 x Average Loss.

Gold was the big loser -10.9%, and UJ the big winner +6.6%.

I will minimize the trades on Gold, and focus more on Majors.
No guts, no glory
  • #210
  • May 17, 2016 8:48am May 17, 2016 8:48am
Quoting abokwaik
OK, after 9 days, we're finally in the green, managing to recover last week's loss plus small profit. Gold was the big loser -10.9%, and UJ the big winner +6.6%. I will minimize the trades on Gold, and focus more on Majors.
Great job! What do you think about about GBP pairs right now?
"Men Who Can Both Be Right & Sit Tight Are Uncommon" ~ Jesse Livermore
  • #211
  • Edited 11:49am May 17, 2016 9:02am | Edited 11:49am
Quoting michisuperfr
{quote} Great job! What do you think about about GBP pairs right now?
With reference to previously posted GU charts.
Our initial Long Entry area resulted > 180 pips.

Now GU might go down and close the newly formed LVCs on H1, and test the Inverted Head&Shoulders Neckline on the Daily.Which could be a good place to go long.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1_08.png Size: 68 KB
No guts, no glory
  • #212
  • May 17, 2016 9:12am May 17, 2016 9:12am
I'll try NU long once again...could be risky with the GDT Price Index coming out today
Attached Image (click to enlarge)
Click to Enlarge Name: long.png Size: 44 KB
Find The Pain Points On Your Chart & Trade Off Those Levels
  • #213
  • May 17, 2016 10:05am May 17, 2016 10:05am
hello kahil,

have you ever looked at pzharmonic indicator on 1 minute chart poiting the turning point of price movement, i saw it in a thread on ff looks ok
Attached Image (click to enlarge)
Click to Enlarge Name: eg1min.PNG Size: 35 KB
  • #214
  • May 17, 2016 10:13am May 17, 2016 10:13am
Quoting clint2008
hello kahil, have you ever looked at pzharmonic indicator on 1 minute chart poiting the turning point of price movement, i saw it in a thread on ff looks ok {image}
No, I haven't.

Tell me more

Does it paint standard harmonic patterns (butterfly, bat, gartly ... etc).
Or is it something else.
No guts, no glory
  • #215
  • May 17, 2016 10:27am May 17, 2016 10:27am
yes harmonics, i had to look it up as i forgotten to bookmark it. The thread is here

http://www.forexfactory.com/showthread.php?p=8890685

You wouldn't be able to automate that, would you?
  • #216
  • May 17, 2016 10:57am May 17, 2016 10:57am
Out NU for 51 Pips/ 24%
Attached Image (click to enlarge)
Click to Enlarge Name: 2016-05-17_115106 51.png Size: 72 KB
Find The Pain Points On Your Chart & Trade Off Those Levels
  • #217
  • May 17, 2016 11:25am May 17, 2016 11:25am
Quoting GPips
Out NU for 51 Pips/ 24% {image}
That's a good one, with at least 10:1 RR. Simply perfect. 👍
No guts, no glory
  • #218
  • May 17, 2016 4:32pm May 17, 2016 4:32pm
Quoting abokwaik
{quote} That's a good one, with at least 10:1 RR. Simply perfect. 👍
Thanks abokwaik... we need more of the same!

Looking back the exit was as good as the entry.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: exit.png Size: 56 KB
Click to Enlarge Name: PT.png Size: 321 KB
Find The Pain Points On Your Chart & Trade Off Those Levels
  • #219
  • May 17, 2016 6:29pm May 17, 2016 6:29pm
Well I give NU another go long... 1 pip SL
Attached Image (click to enlarge)
Click to Enlarge Name: 2016-05-17_192628 1 pip sl.png Size: 79 KB
Find The Pain Points On Your Chart & Trade Off Those Levels
  • #220
  • May 17, 2016 8:03pm May 17, 2016 8:03pm
Can you drop the MQL4 for the Bull Bear power indicator. I grabbed N4S_05.mq4 but it seems to have different options that the one you dropped in this thread.
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