One more trade running. Euro/jpy buy order up 40 pips.
1 Like
Food for thought maybe? This is from this morning (no trade placed). The Hodrick Prescott Channel offers quite a bit of information and confirmation in different areas. It also works well with the 32 channel. Take a look and see what you think.
1 Like
Euro/jpy buy order completed. 74 pips.
I do not see a typical order Block candle on the euro/jpy. But if there was one, we are close to the area where it would be. Perhaps someone could help me out and let us know if we are approaching that area. As you know I closed my buy order because of price being in that area.
I could be doing it wrong but I found there was so many signals that would stop out with small losses. Then I would step away and miss the huge signal.
orange and yellow is short, blue and purple is long. If I use the 200 ema filter there is no signals in the chart. If I use the psar direction and ignore the filter, I see 2 losers.
Any tips on how to avoid these? Or do you guys just trade every signal?
Ignore the hollow candles and triangles that is another signal
EURUSD
Not a typical day thanks to recent US bank failures
It was a difficult day to do the channel strategy on Eur/Usd. All those big candles mean you would need a much larger than “normal” SL. But it was fairly easy on Eur/Jpy
and UsdJpy
1 Like
I’m not sure about the 200 ema filter. I use a 50 to determine whether I’ll take a signal. Above buy and so on. You know.
Are you using the indicator? One was made by a member here. Scalping strategy to finish the year strong - #379 by dastultz
In the settings, there’s filters for the long and short crossover as well as a volume filter. You can also set alerts, but it’ll ring anytime any of the conditions are met making some extraneous alerts, but that’s whatever. The volume filter, plus a trend indicating ema/sma provides a good amount of entry signals. You’ll get more with the volume filter off, but they may not be as reliable. If you haven’t looked at it, load it up and see what’s been signaled the past few days. On days I’m not successful, its not the system, it’s most definitely me.
1 Like
I made my own indicator based on just the ema crosses.
Yea for sure, I agree that most strategies will work but it depends on the person executing it. When I catch the big moves I make a ton, but then the consistent small losses really gets to me so I stop trading and then miss the next big move 
. Everyone is a little different and handles the strain on the mind differently.
I much prefer scanning multiple pairs and looking for a setup which is what did on 1H/4H/1D for years. Now I am just doing this on the 1 minute chart with multiple strategies and just applying whatever strategy I see.
I placed 32 trades in the last 24 hours, only lost 3 trades (because I went to sleep thinking it was ok to sleep with positions open since I did this all the time with higher time frames, completely my fault).
Going to keep trying this for the rest of the month and if it works out, I’ll up my position sizes and see how that goes for a month.
2 Likes
ahh the bottom chart is 0.01 instead of 0.07?
My eurpy order also completed. 92 pips.
3 Likes
So after reading my reply, I decided to scan all 28 pairs on the daily time frame to look for any patterns I liked. Saw a hanging man that looked solid. Went to 1 hour chart to draw support and resistance. Then dropped down to 5 minute chart and entered on the ema channel.
Closed for half profit at 20 pips and the rest is running with a 35 pip trailing stop (Currently guarenteed 17 pips).
Its a pretty solid strategy for entry signals that I can use after I find setups I like. I guess I am not one to stay on just 3 pairs.
Edit: GBVPAUD was the pair
1 Like
Quick note Re: King of Forex strategy.
I noticed his live trading sessions seemed to be around 10 to 11:30 am at GMT-5.
I have used the strategy later in the day too, but got caught in a trade on Aud/Cad, I think, that I started in the evening and price just would not move, so I ended up with a loss on that one.
So I think he waits until most of the high impact news is over, and trades for an hour or so. When you master it, that is all the time you will need.
I have not mastered it. But was doing it in demo over a year ago and it went really well. I’ll have to shake the rust off and use very small entries for a little while.
Yea, I noticed it works the best when there are huge swings in one or two candles.
I took his method and gave it my own spin. I only look at the swings when they are opposite the daily trend.
So say EURUSD is trending up for the day. I only took buy orders while price was under the emas on the 1 min chart and would target whichever ema was furthest away from price. I close most but not all orders and tried to let some of them run with trailing stops if the supports were forming above the entries. That was the EURUSD chart I posted earlier. I feel like there is less risk this way and only had to compound my entries on one swing so far.
I play it a little different. When the train is one way in the Indy is the other that’s when I hit it.
I just got back from yoga and four trades made me 162 pips.
This is not a get rich quick scheme.
closed another half at 50 pips for GBPAUD short. still trailing the last quarter of the position.
1 Like
I just closed $175 pips on the pound yen took six trades
2 very nice wins.
All trades closed.
I just bagged SEVEN WINS. 145 pips total!