Re: XXXX Trading System "Money For Nothing" (except blood, sweat, tears and persistence)

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FourXXXX wrote: Sat Sep 10, 2022 11:15 am I am happy to see what people want to share and my first thought was it looked like a chart from the Blessing EA (grid/martingale) that I wasted too many years on.
Cool, my bad. How did your trading week turn out FourXxxx? I demo'd the system a bit and really like it. My biggest challenge is still when to bail on a trade and when to hold. The ea really helps with tp levels.

Bottom line I'm still getting the hang of it.


Re: XXXX Trading System "Money For Nothing" (except blood, sweat, tears and persistence)

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No martingale eas were used in the placing of the trades.
As I explained the counter trend trades were fishing for a reversal around session highs because the ADR had been exceeded.

I have an announcement all XXXXs and Xards templates are based on moving averages!
XXXX mas are 9/36emas his mas were used which I stated on the chart.
My chart has everything to do with this thread.

I included the good the bad and the ugly to illustrate that it is possible to make money even when you are wrong. (Larry Williams make sure you make money when you are wrong)
Providing you are in control of the risk..Most important.
I posted the chart with the two mas and a bar chart so it is possible to see what was happening.

I posted on this thread because there was no traffic except gushing thank you xxxx you're great love your stuff lol
It helps no one if a chart showing a really great trend breakout has no trades or any sort of hard right hand edge trade entries.Unfortunately I can only place trades in the here and now not jeez I wudda made a killing look at the setup classic. Guess what at the time it didn't look so great......
I very rarely post on threads but xxxx struck me as one of the good guys;-)

XXXX thank you
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Re: XXXX Trading System "Money For Nothing" (except blood, sweat, tears and persistence)

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Castle73 wrote: Sat Sep 10, 2022 11:27 am Cool, my bad. How did your trading week turn out FourXxxx? I demo'd the system a bit and really like it. My biggest challenge is still when to bail on a trade and when to hold. The ea really helps with tp levels.

Bottom line I'm still getting the hang of it.
It has been a good week, persistence is the key. Time to bail is when a candle closes the opposite colour to the way you are heading. Next post will help on entries.

Use the tester EA, always enter with your trade going away from the last thin white ZZ line.
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Musashi
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Re: XXXX Trading System "Money For Nothing" (except blood, sweat, tears and persistence)

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lorne wrote: Sat Sep 10, 2022 10:59 am It's not all about music videos;-)
Image
Thanks for the chart, at that time of the day I don't have HK50 open I am trading the DAX as per below. I like to trade the opens and catch that first big move. 134 plus PIP$ there at 61.85 about 20% profit on the margin used to enter.
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Re: XXXX Trading System "Money For Nothing" (except blood, sweat, tears and persistence)

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lorne wrote: Sat Sep 10, 2022 12:03 pm re chart That's ok
I normally don't trade HK50 but you had posted a chart.
I trade XAUUSD but will trade anything I spot with a potential good setup.

Onward and upward

Regards
lpp
I have traded gold before but found there is more to be made out of indices. Now I trade JPN225 sometimes AUS200 then HK50, DAX at London open and US30/NAS100 when US opens but if I am feeling tired I don't get up for the US session. My aim is to get in on the first big move of the session as shown above. That move was done in 1 hour but there are times the trend will just keep going. ATM I think we are more likely to see those long trends on the short side.

The US30 chart is always open and I look to see what it is doing, many times other indices march to the beat of the US30. Things like the yellow 200SMA, whole numbers ie every number ending with 50, 100, 1000 etc. The DAX and HK50 especially will retrace when the US30 does, you see it trade to a level and stall or retrace the others do the same, then the US30 will have another attempt and if it breaks through the others will usually move. When it is outside the US session these moves are much bigger on the other Indices. However, there are times this does not apply but usually, it is the case.
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Re: XXXX Trading System "Money For Nothing" (except blood, sweat, tears and persistence)

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FourXXXX wrote: Sat Sep 10, 2022 12:28 pm I have traded gold before but found there is more to be made out of indices. Now I trade JPN225 sometimes AUS200 then HK50, DAX at London open and US30/NAS100 when US opens but if I am feeling tired I don't get up for the US session. My aim is to get in on the first big move of the session as shown above. That move was done in 1 hour but there are times the trend will just keep going. ATM I think we are more likely to see those long trends on the short side.
Thanks for the reply and info...
Yes the HK50 had make its strong move and my thoughts were shorts were in order.

That's the thing if you aren't around at high probability times then you are left to try to find a trade;-) which is fraught with danger.

Regards
lpp
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Re: XXXX Trading System "Money For Nothing" (except blood, sweat, tears and persistence)

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This is how my thought process goes for trading the session open, this is showing JPN225 but the same applies to London and US opens just the times change.

The first thing is to check the calendar for any news, then look at the H1 chart. Look for where the market may be heading next the more you do this the more these cycles will make sense. Now we switch to the M5 chart, I have done this using the Tester EA and yes I picked a good day to do it. But it is a fairly typical trading day, the idea is to learn how to read what is going on, when to get in, when to get out and most import of all when not to get in. Feel free to ask questions or comment, someone sent me a message before offering money to learn. I am not after anyone's money, just here sharing what I am doing so we can help each other. Most of it is from Xard anyway.
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nil desperandum

Re: XXXX Trading System "Money For Nothing" (except blood, sweat, tears and persistence)

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rogeryrogery wrote: Sat Sep 10, 2022 11:00 pm Hello,

Thanks for your response earlier - I am on learning stage. Is it possible if you can make short live video for live trade you take. I think that would clear lot of thing for learner like me. It can help with some money management as well as understanding approach to charts.

Thank You.
I would prefer to do screenshots as above, I don't want to be worrying about making videos while I am trading live.

As for money management, I set the percentage of margin I want to use per entry in the EA I provided. If you are learning start on a demo account and set the % to what you would like to be trading ultimately. Practise in demo on the live market until you are confident. Then switch to your I've account and drop the percentage per entry down to 10 or less. When you are doing okay then increase the percentage over time. You don't want to be worrying about money while trading.

Use the testing EA also, pause it and study the chart, work out what you think is likely to happen next. If you are not sure take a screenshot and post it here.
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Re: XXXX Trading System "Money For Nothing" (except blood, sweat, tears and persistence)

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rogeryrogery wrote: Mon Sep 12, 2022 8:03 am Thanks for above bro - Now maybe this going to be really stupid but I HAVE TO BRAVE AND JUST ASK.

normally I would look on forex only & now sessions etc - but indicies - don't know either sessions - also if you can be really kind and let me know how can I check if my broker set to NY time, my broker is UTC +3 or London+2.

Thanks.
If your broker's time is 24:00 at the close of the NY session it is the same as what my templates are set for.
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