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I'm sure that each system if used and wisely can be profitable. From 1 tick charts to each week from MA that is straightforward to complicated Elliot, line graph or mystic Gann calculations - everything actually brings profit.
When you've got system / strategy in question share it here and I show you how it might be adjusted / render it as it is and to be profitable.
Cheers!
Hi Big A, thanks for your answer.Originally Posted by ;
Would you mind to show an example of what you mean by the announcement? I hope to enhance the current system because you have pointed out.
Notice the price action around significant 30 pips from daily open level. About the 15 min TF it is easy to eyeball price rejection and later inside bar (small bearish candle) one might have as an entry bar on the break of the low. SL would be place just above refused bull candle. Approximate SL and TP ratio here is.
This system originally did not work. Why? Thanks to me. Simple. After hours of watching the charts it's starting to work no. Referring to this thread title systems -can - operate. Lak
Certainly, every system can do the job.
Agreed.
Got to give it sufficient time.
And be patient.
Just how long are you trading Big A?
Currently settled with EMA and stochastics combo set on 4H, entry to the breakout. I would cruise daily charts and filter out potential trades. Fine tune my entrances and I've been trying to keep my DD as small as I could. Do you believe that my current combo is good enough for what I'm aiming at?
Pi
I began trading (stocks) in 2002, then several tries to burn my cash succeeded repeatedly. Around 2008 I had been introduced to institutional trader and FX.
It's a very rough sketch you have given in your own trading style. I don't enjoy stochastics personally though I don't say it couldn't be exchanged particularly in the event that you utilize them to confirm trend management and for nothing else (or possess very special means to exploit OS/OB marks of stochs). Now, you obviously know there is not any such thing as 4 hr time frame (since it depends of the start of the four hr period that is different for different local times brokers refer to) and this is somewhat artificial one between 1H and 1D TFs.
DD generally is a myth and maintaining it as low as possible normally also signifies profits as low as possible. Perhaps you had in your mind SL and that is great to keep that tight unless you trade without leverage and manage cash to include a bank.
As with respect to EMAs - yes, it is the good way (although not always necessary ) to stay in line with market's trends.
I want you very best in your own trading.
A.
That is the way my chart usually resembles
Palladium 30M.
I do follow COT report. Palladium gave a buy signal and it did rally together with gold discovering support.
The trader who produced this combo prefers to enter from 4H charts, nevertheless since CFDs precious metals are traded at substantially higher worth than currencies I thought I'd zoom into reduced TFs 30M chart to be accurate.
I had been eyeing on palladium, not I was looking to trade but you know what I mean;--RRB-. I'm new to CFDs. It turns out palladium broke out there, been attempting to go higher for months now. And it eventually did. I like to get in when price breaks out, outside of its range, at a new low or high. Since I think that must imply something. And I need to be in early. By the way I navigate from daily chart first and make my way . There were instances where I went in at a breakout, only to learn price bouncing back and hitting on my SLs not shortly after. So I've been attempting to find out a way to avoid this from occurring.
And lately, Ive started using stochastics and EMA combo. I'd enter when stochastics all of the way down or up, 1 way or another and if trigger line crosses the primary. And 20EMA crosses below or above 50EMA. This way, I think it boosts the likelihood of my transactions living longer - I'm attempting to get the timing right. And that I avoid going when the price is overbought and vice versa. I hope that makes sense.
Compared to you, I'm a noob still. Although I've studied. I know screen time is essential. So what you say about my own system?
Use on two t/f, say H1 to establish direction of commerce M5 to enter off a pullback? Trade like Brian did in post 37.
This is exactly what it is - enter the market at the ideal time. I believe your method of investing is OK and it could make profits.
However, if you would take out stochs your charts are cluttered with non- essential information. Each of the indiors are just works of a price. So when you have stochs in your own charts you unconsciously (or perhaps deliberately) search for a confirmation /trigger and that won't help you to be exact in your entries with the regards to the time.
Now, consider the next pics and inform yourself honestly do you still need stochs? Please believe me - the non - information you've got in your charts the larger chances will be briefer and straighter and so the profits larger.
I would also suggest switching from stochs to easy trend lines as you say you would like to exchange breakouts (again, look at pics below).
There is also 1 thing here - I see you're relying too much on the past (background ). COT reports are one week old and they let you know exactly what happened previously. Unless you're investor I don't see how it might benefit you as a trader (speculator).
P.S. I also would suggest you leave CFDs (on the 4H TF, each of the tools lose the effects of the short term disturbances and become more technical analysis favorable, besides you wouldn't cover your broker disperse ) unless you've got deep understanding on the specific instrument. And if this is the case then switch to stocks.
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