GladmanGoddey:
So in total 10 trades
6 wins
3 losses
1 break-even
RR 1;2

More backtest would be required though
but i think it might have potential

Good work bro make sure the pinbar is at a key support or resistance

I suggest you use the worse case scenario for your back-testing. When the market condition is dry, low volume. Range condition.

These last 2 weeks were quite good weeks, not much difficulty. Within these 2wks, I increased one account (demo) equity by more than 1000+% I am not boasting though.

VeeVeeMyLuv:
I suggest you use the worse case scenario for your back-testing. When the market condition is dry, low volume. Range condition.

These last 2 weeks were quite good weeks, not much difficulty. Within these 2wks, I increased one account (demo) equity by more than 1000+% I am not boasting though.

Roger that

VeeVeeMyLuv:
I suggest you use the worse case scenario for your back-testing. When the market condition is dry, low volume. Range condition.

These last 2 weeks were quite good weeks, not much difficulty. Within these 2wks, I increased one account (demo) equity by more than 1000+% I am not boasting though.

Wow, that's great bro.

Can you share more details with us?

Things like starting balance, lot size traded, your equity right now and of course your strategy. We may learn a thing or two from it.

Gasive:


Wow, that's great bro.

Can you share more details with us?

Things like starting balance, lot size traded, your equity right now and of course your strategy. We may learn a thing or two from it.

Thanks boss, I will try

Abeg somebody should do giveaway demo challenge na. I need small money

Bornfool:
Tonyfx if you have time try placing pending stop order at 0.0 fibs level of all the sucessful daily pinbar this week stop loss at 38.20 fibs then check the 4 hour time frame for how it goes, am backtesting this right now and its working fine, am looking for more data to backrest it on.
Have tried it on
GBPUSd
EURUSd
USDCAd
USDCHf
NZDUSd

It also give good RR hi

I have also worked on something similar but all my setup is on the 4h TF which coincides with your pin bar on the daily time.
Furthermore, it's very risky using using the 38 fib level because you will be stopped out 60% of the time. Based on my own personal analysis, setting your stop loss 30 pips below or above your entry level will win most of the time. And when I decide to be greedy, I set another entry limit @ 20pips below the 0.0 fib level with a 10pips stoploss.

Lapeztech:

I have also worked on something similar but all my setup is on the 4h TF which coincides with your pin bar on the daily time.
Furthermore, it's very risky using using the 38 fib level because you will be stopped out 60% of the time. Based on my own personal analysis, setting your stop loss 30 pips below or above your entry level will win most of the time. And when I decide to be greedy, I set another entry limit @ 20pips below the 0.0 fib level with a 10pips stoploss.

Please kindly upload your setup screenshot.

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Lapeztech:

I have also worked on something similar but all my setup is on the 4h TF which coincides with your pin bar on the daily time.
Furthermore, it's very risky using using the 38 fib level because you will be stopped out 60% of the time. Based on my own personal analysis, setting your stop loss 30 pips below or above your entry level will win most of the time. And when I decide to be greedy, I set another entry limit @ 20pips below the 0.0 fib level with a 10pips stoploss.

You can't compare the signal 4 hour will give you with daily apart from that am only backtesting the strategy to curb missing of trades using 50 pending order limit and wide stoploss setting above or below with entry above or below the pinbar. Well still backtesting it on successful pinbar no loss except the audcad Gladys share to us.

Bornfool:


You can't compare the signal 4 hour will give you with daily apart from that am only backtesting the strategy to curb missing of trades using 50 pending order limit and wide stoploss setting above or below with entry above or below the pinbar. Well still backtesting it on successful pinbar no loss except the audcad Gladys share to us.

Am not disputing your view from the daily chart, what I was saying is the all those is a sum total of what happened in the 4h tf.
******************************
This strategy as discussed occurs after a price changes direction. For instance let's say we were on a down trend and then price reverses for uptrend, price which is below the 13EMA then moves above the EMA. Then you wait for the first "red" candle to close, you can buy at this point and set your stop loss @ 30 pips below the wick of the red candle.
From the chat, you will notice that you were not stopped out after the first pullback.

Lapeztech:

Am not disputing your view from the daily chart, what I was saying is the all those is a sum total of what happened in the 4h tf.
******************************
This strategy as discussed occurs after a price changes direction. For instance let's say we were on a down trend and then price reverses for uptrend, price which is below the 13EMA then moves above the EMA. Then you wait for the first "red" candle to close, you can buy at this point and set your stop loss @ 30 pips below the wick of the red candle.
From the chat, you will notice that you were not stopped out after the first pullback.

Thanks, I will keep that in mind

saxy4c
Do you trade binary Synthetic indices?

saxy4c:
Good to see you again big man
Nice reaction and I just hope it sustains as I don't trust this Swiss guy at all.
According to this ABC thing that the great Voraz does, if W would equal to Y [which also coincides with the 78.6], then you may have to take your stops a bit more down sir. Nice alert. Thanks.

Sweet trade Ogami

hidhrhis:

The guy use big lot size and when the market move 2-4 pips he advise them to close trade
He opens multiple trade and when it start moving 2 pips he advise them to close the trade
I don't know if this is how they trade indices cos I have no idea and when we talked on whatsapp he is charging 5000 Naira for the training
I also asked him to show me his account history and he only told me he withdrew 35 dollars that day and also showed me trade like 10 trade that just moved 2 pips
Maybe indices don't have account history or he doesn't understand the meaning of account history
I don't know

Hehe... Boom and Crash
This would probably be the strategy behind it.
Buy Crash after a crash, Sell Boom after a boom and don't be greedy.

Balderdash
Hehe

These are the pairs and zones I'm watching for this week.

AUDUSD Sell Limit @ .6930.... SL: .6961 .... TP: .6661
NZDUSD Sell Limit @ .6500 & .6473 ..... SL: .6520 ..... TP: .6240
USDCAD Buy Limit @ 1.3500 & 1.3490 .... SL: 1.3460 ..... TP: 1.4150 (extreme swing)

Manage risk please

That's the only bad thing I do, not share those setups. But I very well could on request.

weblord1900:
saxy4c
Do you trade binary Synthetic indices?

Do you mean the 13EMA moves above the RSI?

Lapeztech:
For instance let's say we were on a down trend and then price reverses for uptrend, price which is below the 13EMA then moves above the EMA.

voraz:
These are the pairs and zones I'm watching for this week.

AUDUSD Sell Limit @ .6930.... SL: .6961 .... TP: .6661
NZDUSD Sell Limit @ .6500 & .6473 ..... SL: .6520 ..... TP: .6240
USDCAD Buy Limit @ 1.3500 & 1.3490 .... SL: 1.3460 ..... TP: 1.4150 (extreme swing)

Manage risk please

Great analysis bro!

voraz:
These are the pairs and zones I'm watching for this week.

AUDUSD Sell Limit @ .6930.... SL: .6961 .... TP: .6661
NZDUSD Sell Limit @ .6500 & .6473 ..... SL: .6520 ..... TP: .6240
USDCAD Buy Limit @ 1.3500 & 1.3490 .... SL: 1.3460 ..... TP: 1.4150 (extreme swing)

Manage risk please

Thumbs up.

saxy4c:
Do you mean the 13EMA moves above the RSI?

No sir, when the candle move above the 13EMA on your main chart. There is a similar opportunity for a sell at EURCAD, kindly look at it.

But you're pointing at an entry candle long before any MA crossing?

Lapeztech:

No sir, when the candle move above the 13EMA on your main chart. There is a similar opportunity for a sell at EURCAD, kindly look at it.

saxy4c:
But you're pointing at an entry candle long before any MA crossing?

For instance baa, for a downturn turning uptrend, the candle sticks moves from below to top of the 13EMA. After the couple of bull candles, you buy at close of the first bear candle with your stop loss 30pips below the bear cancel. U grab?

Lapeztech:

For instance baa, for a downturn turning uptrend, the candle sticks moves from below to top of the 13EMA. After the couple of bull candles, you buy at close of the first bear candle with your stop loss 30pips below the bear cancel. U grab?

what will TP be set

enolife2:
what will TP be set

you can trail

Oh I get it now, you wait for the first bearish candle close above 13ema and buy at the close of that candle setting your SL 30pips below the red candle.
Looks good if it has your winning percentage with a RRR of 2 at least. Great observation bro. More pips to you.

Lapeztech:

For instance baa, for a downturn turning uptrend, the candle sticks moves from below to top of the 13EMA. After the couple of bull candles, you buy at close of the first bear candle with your stop loss 30pips below the bear cancel. U grab?

Please traders that trade live account which legit Forex broker do you recommend for a new Forex trader. Trying to avoid all these scam brokers. Thanks

nwaobitex:
Please traders that trade live account which legit Forex broker do you recommend for a new Forex trader. Trying to avoid all these scam brokers. Thanks

This article might help you distinguish between a genuine ecn forex broker from fake ones.
https://www.thesearcherslist.com/2017/03/top-best-ecn-forex-brokers-lowest-spreads.html

icycool768:

This article might help you distinguish a genuine ecn forex broker from fake ones.
https://www.thesearcherslist.com/2017/03/top-best-ecn-forex-brokers-lowest-spreads.html

thanks the article was really helpful

Bornfool:

Let say we saw a pinbar on the daily time frame we draw fibs on the pinbar we place a buy stop at 0.0 fibs and stoploss at 38.2 fibs let see how it plays out on the 4 hour
Pic 1 daily
Pic 2 4 hour

Red arrow:stoploss
White arrow:buystop

As you can see it was successful with a better RR, am still backtesting it .

Your fib plotting is wrong bruv. When using a fib retracing , u move from the lesser number to the highest, not the other way round. Since the plotting is wrong, u will be accumulating a kinda miseducation from the setup u r seeing.

Try and go over the fibs

Vandorra:


Your fib plotting is wrong bruv. When using a fib retracing , u move from the lesser number to the highest, not the other way round. Since the plotting is wrong, u will be accumulating a kinda miseducation from the setup u r seeing.

Try and go over the fibs

i think it depends on the trend

goodboy744:
i think it depends on the trend

Yes. .

So that's why one must learn to plot it. In the scenario above, it was wrongly plotted.