I have a nice trade for you put up the 50 period simple moving average on the 1 hour chat look for the trend wait for the pair to cross the 50 day aginst the trend and then take a trade with the trend this trade works 80% of the time or more. The reason why this works is becuase the pros will see the trend extending and buy a position in the oppiste direction to shake the retail traders out of the market and once they do the turn around and take position long the trend again to maximze there profits and they’ll do this until the trend changes.
Not sure if im understanding correctly. So if it is above the 50day and then crosses below it, do i go short or long?
I think that if the trend were up it would be above the 50 day (if the trend were down then it would be below it) and so on retrace, he suggests you go long.
I think most folks try to catch a bit of a retracement before entering (otherwise it retraces right after you enter, and your buy line starts to look like a resistance marker). The concern for me is always that maybe this time its a reversal.
Hey Bp, I think maybe filtering with a stoch may help but not necessary really.,say if you have a divergence or something. Bp what is your stop normally and how do you control risk ? Barry Burns with top dog has a very similiar strategy called the rubber band trade except he uses filters etc. I’ve been experimenting with 2 positons - 1st position take 1/2 off the table and bring the other to brake even or watch your stochs to see if they turn then exit.Like you say it’s effective …What pairs do you normally trade and are you trading this method live ?
Rob
This is Barry Burn’s Rubber Band method. And he got it from someone else. The problem with it is that you’ll get old and gray waiting for trades.
Bp your explaining the same technique 
You better have a very good plan if your going to get 80% hit rate . 60% very possible.
I like to include here . Hope it help. I trade with 200 ema , 300 ema or 400 ema . I look for second suppport or resistance to go long or short when the ema line is touch at at buttom or top. . What I mean about the second support/resistance , example long, at 4 hr Chart , 200 ema is touch for the first time, look ema move higher . Only buy at the next support or resistance level when is ema line is touch again. If i using the 50 ema . I only trade at 30 or 1 hr Chart. Other signal and Indicator must to combine.
This is actually logical. If you are in an up trend and you find price below the 50 ma, it’s a heck of a good place to get in…IF the trend continues. I think that’s what you’re saying. This would probably work well on the 15min, that would give you more trades.
Also, might want to wait for price to cross back through the 50ma in the direction of the trend for confirmation. If 50 ma losses it’s uptrend slant, the trade would be cancelled. This I think would be profitable…but I dont do “paint by numbers” trading anymore lol.
I have taken 3 small trades with this strategy, all winners but also small pips. I use the 1H TF as suggested and only take a trade if there is a pronounced trend - flat doesn’t get it. The concept is simple but like any other strategy it ain’t easy, takes some patience that’s for sure. I use Oanda because I can preset default TP & SL but that is an individual matter. MT4 would be just as good. d