Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

Mysticforex

Simple Trend Trade

Recommended Posts

I have posted 6 setups so far. 3 went to profit, 3 did not open or I stood aside. No losers.

There will eventually be losers, but with the R/R we were able to use you should make more than you lose.

 

I started using this method about 5 years ago. It has proved to be dependable in just about all market conditions. It's not a Grand Slam, but I am able to eek some pips out of the market with it.

 

Should I continue with a few more examples?, or am I beating a dead horse?

Share this post


Link to post
Share on other sites

I've enjoyed reading you posts Mysticforex. No dead horse flagellation here. Thanks :-)

 

If you don't mind sharing --- what sort of overall profit factor (total profits / total losses) have you seen using this approach, over the time that you've been trading it?

 

-bbc

Share this post


Link to post
Share on other sites
I've enjoyed reading you posts Mysticforex. No dead horse flagellation here. Thanks :-)

 

If you don't mind sharing --- what sort of overall profit factor (total profits / total losses) have you seen using this approach, over the time that you've been trading it?

 

-bbc

 

I don't keep records that detailed. I record all my trades in a notebook. The trading platform has the time I entered a trade. If I can't remember why I entered a trade I check the time then the chart. Then it is usually clear to me why I entered.

 

The method shown here probably represents about 5% of my trading over the years, with a win rate of about 63-64%. I am primarily a counter trend trader, but the method I use for that while not complex is a little more detailed.

 

I will continue to post setups using "Simple Trend Trade" as long as there is demand, but none today. I am getting an early start to a long holiday weekend. Back for Tuesday London.

 

I will also see what I can come up with for a simple counter trend trade and start a new thread. I have also been meaning to start a thread for trading a range bound, ascending or descending channel using trend lines.

 

Have a good weekend.

 

 

I will continue to post setups

Share this post


Link to post
Share on other sites

With the bump in prices on Friday we are due for a resumption of trend, or at least a retrace.

Her is the GBP/USD... it is not quite oversold yet. We wait for it to become oversold, the on a "Good" bearish candle, with the stoch coming out of oversold we short. S/L would be a little above the most recenthigh. TP would be the area of support. There is weak support @ 15230 and some strong demand ! @15280.

guscot.thumb.gif.65c5f92bbb0ee2d37331aba38a53d968.gif

Share this post


Link to post
Share on other sites

Ok, here's one we can watch. EUR/USD 4 Hour Chart.

 

Price is below the 200 SMA, so we are in a down trend. The stoch looks like it wants to go into overbought. Remember, don't jump the gun... wait for it to be overbought. Then if/when it comes out of overbought... with a "NICE" looking candle, short. TP would be a new low...

S/L would be just above the most recent high when the trade opens.

 

Play this one close to the chest. There is a lot going on we don't know about.

 

This is not a suggestion to buy or sell currency. It is just an idea on how to look for opportunity.

euscot.thumb.gif.b88089290d6cc7509d4974e32fbfa7fe.gif

Share this post


Link to post
Share on other sites

Here's a possibility if it opens...

 

1 hour USD/CAD. Price just below 200 SMA, Stoch oversold. If we come out of oversold on a good bearish candle I would short to around the 10200 area. Stop would go a little above 10330.

ucad.thumb.gif.6f375cd209c91cb0235bd8f48235574c.gif

Share this post


Link to post
Share on other sites

1 hour USD/CAD has opened and is currently in profit. I am moving my S/L to BE @10303.

I don't usually do this but in light of recent $$$ strength, and EU fears, I am doing so this time. I am also tired and want to get some sleep :)

ucad.thumb.gif.9bc699c6963d628a2d37c023618706c0.gif

Share this post


Link to post
Share on other sites

2 Pairs worth watching into tomorrow. EUR/AUD and USD/CAD on the 1 hour chart.

Both are trading below the 200 SMA but moving toward it, the stoch is moving up on both as well. If we get into overbought on these, we will be looking to sell on the stoch coming out of overbought with a nice bearish candle. You can also view this as a bounce down off the 200 SMA.

I will be watching these and post if/when I see them open.

 

Here's the charts:

euraudscot.thumb.gif.190af388fce00b49bca2897cb757ff3e.gif

ucadscot.thumb.gif.2854182b2f019cce849b1dd2fc5d2550.gif

Share this post


Link to post
Share on other sites

EUR/AUD getting closer but not ripe yet. The current candle closes in 50 min...

Here's a chart on a different template I use. This one has a faster stoch, 50 sma,and 20sma.

This template might provide an earlier entry, but it is something I just started working with.

It's based on Steve Bigalow book, "High Profit Candlestick Patterns" Steve is a stock trader and money manager.

euraudscot.thumb.gif.a8b00ca29bbf02bf9c9de7c6886f968b.gif

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • VRA Vera Bradley stock watch, pull back to 5.08 support area at https://stockconsultant.com/?VRA
    • MU Micron stock watch, pull back to 102.83 gap support area with high trade quality at https://stockconsultant.com/?MU
    • ACLX Arcellx stock watch, trending at 84.6 support area with bullish indicators at https://stockconsultant.com/?ACLX
    • Here’s something few are talking about: The Chinese are printing money like it's going out of style. Not that you'd hear about it in the mainstream news. But Bitcoin knows.   Bitcoin always knows.   Here’s the thing…   When the Chinese government prints money to paper over the cracks, their smart money doesn't sit around waiting to get devalued.   It usually flows into three things: Bitcoin, gold, and dollars.   After years of being beaten down, gold's having one of its best years in decades. But here's the secret -- whatever gold does, Bitcoin's going to do it bigger.   Much bigger.   Since last November, when China started their printing spree, Bitcoin's been moving in near-perfect correlation with the People's Bank of China's balance sheet. Over 80% correlation, maybe even 90%.   Again, few are talking about it.   But here's why this matters right now: This could be the beginning of a huge breakout in the crypto markets.   Bitcoin broke above its July high, and historically, that's led to new all-time highs over 90% of the time. The only times it failed? COVID and the 2022 bear market.   That's it.” – Chris Campbell   Profits from free accurate cryptos signals: https://www.predictmag.com/     
    • Originally Answered: How can I compete with people who are better than me in every way?   So you want to outcompete people who are smarter, better looking and more experienced than you?   No problem!   All you have to do is outwork them.   Will Smith said, "if we both get on a treadmill either you're going to get off first or I'm going to die trying."     Most people just aren't willing to work that hard. Sure, they'll show up for the job interview and maybe practice in front of the mirror for a few minutes, but they won't do hours and hours of research and prepare for weeks. They won't wake up early and stay up late working on their dreams.   So while all those smart, good-looking, experienced people are waiting around for the next opportunity to come their way, you can outwork them and create your own opportunities.   In a few years, you'll be that "smart" person everyone looks up to. But you'll be different. You'll know it was your hard work, your inner strength and your commitment to living a great life that made you successful and brilliant - not luck or good genes.” – Tom Corson-Knowles, Quora Profits from free accurate cryptos signals: https://www.predictmag.com/   
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.