Kiss principle trading

I believe in simplicity and focus. When it comes to trading or punting, If what I am doing or trying to do is complicated, is not clear, or if I am overthinking it, then I use this simple maxim I learn years ago from a successful trader: If in doubt, stay out.

I have resumed my trading after a small break. I am focus now on a few currencies and commodities, I have a total of 8 products I trade.

In the past I tried many approaches, multi products, single products, day v intraday trading, riding a trend v fibonacci targets, or 2:1, 3:1 targets, etc. Now I have consolidated my trading into a KISS approach that gives me a mix of profits taking opportunities that prevent me from feeling “I missed on this one, I could’ve stayed longer” or “Man, if I had only placed my TP at the 161.8% fib instead of the 127% I would’ve made this much more”…

There is no more of this, there is no more of closing trades because they are going against me, there is no more betting higher than my money management rules…

it is KISS TRADING

I will only post a subgroup of my trades here, I have so far entered 36 trades in just one month, so it won’t be easy to posts them all.

Happy Trading…

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LONG: AUD/USD 30m Chart
Entry: 0.71396
Stop: 0.71286 (11 pts) correction typo “0.71266”
Profit: 0.71676 (28 pts)

The entry is based on a “30m Double Bottom” formed with a Engulfing candle.
We feel that the AUD/USD is moving towards forming the “right tip of a bear crown” or what is also known as the “D” point in a Gartley formation.
Basically the market has broken the short term down trend line, it therefore moved into the “Buy Zone”, after retracing to near support formed a bull engulfing candle, signalling our long entry.
The take profit target is a bit tricky since we didn’t have a 618 or 786 fib entry, therefore we are placing our TP below the 618% fib of the latest downswing.

We are also in this situation trading the “A-D” phase of a larger (1H-2H chart) bear Gartley forming (see second picture below). Which we expect to short at “D”. This “D” entry we expect it to be around the 618 or 786 of the downswing (in pink)

Happy trading…

AUD/USD Bear Gartley forming?: See next post

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AUD/USD Bear Crown/Gartley forming?
Following on the post above, we believe we are trading the “AD” swing of a bear gartley in formation within the 1h-2h charts. Last night, I traded the mini bear gartley/crown in the 30m which way surpassed my 127fib tp. Now I hope there is another short opportunity coming up at the 618 or 786, hence our TP for the long trade above is placed below the downswing 618 (pink)

Happy trading…

UPDATE: AUD/USD LONG & BEAR CROWN:
Our long 30m trade got stopped out at a Loss and the bear crown never formed. In reviewing the reasons for this trade not to work, as we always do, the Bear Crown had already form during the “spike” candle that came just under the 618 (aka Right Tip) therefore our 30m trade had no chance. :frowning:
Onto the next…

LONG: EUR/CAD 4H Chart
Entry: 1.49621 (618%)
Stop: 1.49321 (30 pips)
TP: 1.50821 (120 pips @127% fib extension)
Tech Reason: Bull Crown Possible Right Tip at Fib 61.8%

I believe we have a Bull Crown at this cross. However, when measuring the location of the left tip, the Right Tip is expected to be at the 786 and not the 618. I decided to entered it anyway and I am prepare to take the loss if the RT happens to form at the 786. ie. I will re enter at this level and if this second attempt fails then the formation will fail and we are back to bear grounds…

happy trading…

UPDATE 28/2/19 18:30 (Adelaide, AUS Time):
This trade has now moved 1:1 so we are now moving our stop to FREEROLL (I dont like using the word “break even” for personal reasons…:slight_smile:)

UPDATE 1/3/19 11:00AM:
Our freeroll trade got stopped out. It moved in our favour about 1:1 - 1:1.25 times however if we start closing trades at this ratios (as I used to do in my beginner days) we will never make profits. I rather take a “break even” any time than be closing trades at 1:1 only to find that my original TP was hit at 3:1 or more…

Read todays analysis for EUR / CAD in the new posts…

BULLISH: GBP/JPY DAY -> Long 30m Entry:
I am bullish on the GBP/JPY as we are in a clear up trend on the Daily chart.
I am waiting for a 30m-2h retracement to the Fib 50% or better and a candle confirmation to go LONG.
We feel that the up trend rally will end at the 161.8% fib also Resistance Levels (149.50-149.90) as shown in the Daily chart below…

At that junction, we will be shorting the pound…

Note: the other 1h chart has to go into a new post…

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as mentioned above, we are waiting for a retracement to the fib levels to go long

UPDATE: 28/2/19 19:00 So far the G/J is sitting just at the Fib 50 + Short Term Up Trend Line. We have a bear candle plus a doji already formed in the 30m chart. We are now waiting for a bull candle to be completed in 28mins (19:30 Adelaide Australia Time) to enter long…I wont make any more updates until we either enter this trade or not… happy trading…

UPDATE: 15m Bull Engulfing Candle at 61.8% Entered Long. Its ok to wait for a 30m Morning Star in the forming before entering as well.

STOP @ 146.927
TP @149.127 (161.8% fib extension and below the Day resistance of 149.700

this is old for now. in 30min the Coffee market will open and we will enter our last trade long as per above analysis…
happy trading…

UPDATE 1/3/19 11:00AM
We are FREEROLLING on this trade now. It moved just about 1:1 times in our favour

Onto the next…

Commodities:

Coffee: Bull Rally expected We are waiting for coffee market to open tonight to go Long on a Double Bottom +Bull Engulfing candle formed on the Daily Chart.

Current Price (market is closed) is 95.75. Our stop will be below the day support level of 92.48 with a TP of around 100.00 (below the 61.8% of the last downswing)

Copper Cash: Bear Retracement expected: We have entered short based on the Daily Chart hitting the 161.8% extension of its recent rally from the 38.2% bounce. This level also shows a RSI Over Bought signal plus Doji Candles. Whilst in the 2H Chart we broke the short term Up Trend and entered the Sell Zone…

All in all we entered the following trade:
Sold @ 294.73
Stop @ 296.53 (18 points)
TP @ 288.23 (65 points just above the 38.2% fib of the current up swing)

Because we are basically trading against the prevailing Day trend, we are actually trading a possible retracement, our TP is somewhat “arbitrary” we do not have a Fib Extension to place it at. So in this instances as long as I can get a 2:1 min I can close this trade when I feel the market may turn alternatively I used a Fib Retracement as target, in our case this is the 38.2% which give us about 3:1 return…

Crude Oil: Bear Crown / Gartley:
I was happy when I picked up a nice short trade which surpassed my TP (25/2/19 avo). I entered upon a break of the most recent 4H Up Trend Line. Oil then went to hit the next longer term up trend line and of course bounced from it. This is giving us a Bear Gartley / Crown opportunity at the current 61.8% bear swing levels. Although I am not 100% happy with the “lack of candle confirmation” I still took the trade on the SHORT side as follows:

SOLD @66.205 (61.8% fib and possible Right Tip)
STOP @66.705
TP @ 64.705 (last low)

If this trade fails, I expect to trade the 78.6% possible right tip with a proper candle confirmation. I suggest to wait for this second opportunity or to be in the look out for a 2h - 4h candle confirmation at the current 61.8% levels before entering…I am a higher risk trader and prefer to enter a trade I have 50% + confidence than let an opportunity pass by.

Having said that, when I have situations like this, I only enter about 60% of my stake whilst I entered the remaining 40% plus a full 100% stake on my “safer trade” if the first one fails…

More of this in later posts…

Gold Cash: Heading towards 1,375 high?
Gold has been rallying nicely since 16th Aug 2018 bouncing of fib levels 62%, 79% and even 50% and 38.2%. Currently is sitting at the 62% of the most recent upswing, however the speed of the recent uptrend since Nov 2018 has been a bit “faster” than the rallies between Aug-Nov. Furthermore, this recent rally is accompanied by what I called a “3-point RSI divergence” (last 3 day-chart 4/1, 31/1 and 20/2 highs). This usually means a reversal or at least a break of such a trend line to “adjust the speed”.

In Summary: Wait for at least a 4h if not a Day candle bull signal at the current levels as long as the TL is not broken. If no such a signal and the market breaks its current Up Trend Line then we will be looking to enter short on any rallies or to buy a clear bull candle at a resistance levels (one of the day lows). Further analysis will be required but it should be defined in the following days… Keep an eye for updates on Gold Cash.

happy trading

here are the commodities charts for the above post…

UPDATE: 28/2/19 19:45 (Adelaide, Australia Time): Coffee market opened and we entered long…

Buy @96.32
Stop @92.32
TP @104.32

UPDATE 1/3/19 11:00AM: We are still Long in this trade. Nothing to report yet.

UPDATE 1/3/19 11:00AM COPPER CASH: SHORT DAY ENTRY ADDED
During our 28/12/19 post we entered short. Today however, the Day Chart gave us further confirmation with a Bear Engulfing Day Candle. We have added to our trade making it a full UNIT (100%). In one of my posts I mentioned that depending on the type of trade and my confidence on it I usually enter 60% of a unit (0.6) and if that trade fails e.g. a 618 entry and the market then gives me a safer trade at the 786 then I will enter 1.4 units into this “safer trade”. I do this to resolve the dilema I used to have in the old days: Do I wait for the 786 safer trades or I trade the 618 as well? Many times the market will bounce at the 618 turn back at the 786 of the opposing swing to hit the 786 which was also a 127…then go in my original direction and I would “hesitate” trading the 786 winning trade missing out!.. Other times, I would wait for the 786 only to miss out on a beautiful 618 or 382 trades…

So I adjust the % of my entry according to the strength of the trades. This doesnt mean that I would trade anything and everything either, I am rating the trades within those that meet my basic criteria…

UPDATED TRADE:
STOP @293.56
NEW TP @285.45 (At the Fib50% of the recent upswing and above most recent resistance turned support)

NOTE: I still need to wait another 4hrs before being able to reply. yesterday I had to update all my live trades and went pass the limit…lol…
So my new charts for each of the products I trade will go on later today…
including this one on Copper…

UPDATE 1/3/19 11:00AM: Nothing to report except I am not that confident on this trade. I am expecting it to fail and form a confirmed 4h-2h bear candle at the 786 at which time I will enter 1.4units as mentioned previously (0.4 u saved plus the normal 1unit)…onto the next…

UPDATE 1/3/19 17:00: This trade got stopped out. So we are now waiting to see if it ends up forming a Bear Crown or Gartley “Point D” at the 786. See analysis posts coming up

As mentioned, if daily candles break the current 618/Up Trend Line then we are set for a possible Bear Gartley / Crown. In which case we will try to trade the rally to the right tip (A-D) or be patient and trade Short at the Right Tip “D”… stay tune, as we will keep an eye on this commodity in the next weeks…

UPDATE: As discussed here, we have now entered LONG on Gold due to a 61.8% + H4 Engulfing candle.
Buy: 1,322.12
Stop: 1,315.12
TP: 1,357.15 (127% Fib Ext)
happy trading
ps. since I joined in today i was only allow to reply 20 times, I am not verse on using forums so I edited this posts with the update…I dont know if there is another way to adding posts per trades etc apart from using the “reply” button :slight_smile:

UPDATE 1/3/19 11:00AM
Not a nice feeling when you make a rush entry forgetting a key rule: IF I HAVE A DAY SIGNAL POINTING IN A DIRECTION, ONLY A DAY SIGNAL SHALL BE AS STRONG TO GO AGAINST IT!. I have the Day 3pt RSI Divergence showing a retracement of the current up trend, this could turn back around at a fib in this case 618 however I needed a DAY candle confirmation for this NOT a 4H…no wonder it failed… :frowning:

LESSON LEARNT…OR I SHOULD SAY LESSON REMINDER…

Now the next DAY TRADE opportunity can be the DAY BEAR CROWN or GARTLEY to form (“D” point).
We have for now the option to short Gold using the 2H-4H charts. We will keep an eye on this. Basically the X-A portion of a Gartley in formation. I believe we could have up to 1300 mark to trade short, but we need to wait for the current move to rally to a fib and give us that chance…otherwise we will have a long wait …

Gartley is KISS? Really?

In spite of this, interesting posts, thank you.

amazing man. i do not understand this pattern and it is too complicated for me but you make it sound so easy. best of luck mate.

HAHA, I feel the same! :laughing:!! For me, though, it’s out of ignorance. I had seen some Gartley’s on a chart and it seemed interesting. I did the the googleplex, read some posts, watched some youtube, downloaded a PDF Book - forget which one - on gartleys and it was HUNDREDS of pages long, full of bats, boars, bears and all sorts of Rorschach patterns. For me, too complicated.

I have learned that however a trader continues to grow their account it’s a valid process for them.

Tx for posting @TitanTito !!

KC

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hi guys, yes i agreed with you all and thank you for your comments.
I have opened up a new topic “Trading The Gartley -ABC”. I will be posting my simple version of this method, what it has worked for me. So feel free to check it out and I am sure you will find it easy to understand. I have a ONE page summary of how to find and trade it or one way to trade it at least, and in the future I will keep adding examples and video tutorials …once I am allowed to upload attachments!

happy trading …

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Cocoa Cash: Day Chart Analysis

Cocoa Cash: 2H Chart Analysis

Coffee Arabica Cash: LONG Trade Active

Copper Cash: SHORT Trade Active

Crude Oil Brent Cash: SHORT Trade Stopped Out
This is the trade I’ve updated in the posts above. We are now waiting to see if the market will still form the “D” point of The Gartley which I also refer to as “the Right Tip of a Bear Crown”.