@American Trader
trading Buy:
I Compass turns green
Parabolic SAR changes. It’s clear.
Now
a) the yellow EMA 20 crosses the first blue EMA 80 ? b) the yellow 20 EMA crosses the two blue 80 EMAs? you leave when Parabolic SAR and I Compass turn pink.
I understand it right?
@mikolaj333 . That’s pretty much it. The icompass indicator does repaint so I sometimes wait for a second candle for confirmation. But every time I look back and check for over a year now, it’s been pretty reliable.
Hi @AmericanTrader
I like your determination.
It must have taken you several years to develop that strategy.
Do you have myfxbook account, or do you offer signals on mql5 so that one can copy them at a fee?
@MarchFX
No. I don’t offer signals. I’m just a trader like you trying to get better all the time. I will never consider myself an expert. We are in this together and we can grow together and become more profitable together.
This is how today’s euro/usd chart looks based on my indicator settings for the euro/jpy one minute chart. Not bad.
Hi AmericanTrader, somewhere on this thread you mention using level 2 data, how did you manage to get that for forex please?
Nice one, I don’t use MT4 that much, but as all of your indicators are on there I might have another go.
That was nice on EUR/USD!
I don’t always win when trading on the news. I took my 30 pips and closed.
My pending sale order on euro/usd activated and closed for an additional 15 pips.
More free money while I’m driving.
My only remaining pending order is a sell off the 15-minute chart on euro/jpy. Not sure if it will end up triggering today.
Are you spending less time on the 5m charts?
@samewise
Was that question for me?
Well, I am spending more time on 1M because of the additional opportunities and because during the day I have to use my phone to trade and I have all the indicator settings set for the 1M trading.
But all morning I check a bunch of timeframes for the 3 pairs I’m trading in order to see if I want to enter any pending trades.
Yea it was. Cool, thanks!
So EURUSD, EURJPY an CHFJPY?
High impact USD news in 40 minutes.
Another 10 pips on Eur/Jpy.
Are you trading the news? I have been experimenting with both shorts and buys 5 pips away from the price right at the point the news comes in. I have trying to gain 30 pips each way, but in hindsight I will target less, so this time 10 pips each way. It does work but you have to be solid on the take profit and the stop losses figures when the price is moving constantly just before the news. If you want to experiment then just try it on demo? Also you have the factor in that some HIGH impact news doesn’t really move things that much too straight away, so take off both your orders if that happens.
I do have a pending order for Eur/Usd based on the news. Price would have to move quite a ways up to hit it though. I’m only doing it because my SL would only allow me to lose half of what I already made this moring.
I’m probably less than 50% wins on news trading,
If my pending order hits, it’s only 10 pips.
Yesterday, I got a win when price went up and another win when it went down after news.
Good USD news. I can cancel my pending buy order.
