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@  traderpusa : (08 July 2020 - 04:04 PM) Most if not all of uncle sw had a time limit.
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@  happyjas : (26 June 2020 - 05:42 PM) :unsure: 'Can't afford the BM thing, 'just got the 2018 Audi 2016 :(
@  happyjas : (26 June 2020 - 05:41 PM) :unsure: 'Ca
@  Dyabolus : (26 June 2020 - 03:45 AM) so were u verified by David at last? how about that 'pic'
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TRADESMART'S SIMPLE STRATEGY


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#1 tradesmart

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Posted 10 February 2015 - 10:27 AM

This is a very simple strategy that i have been using and ive had much success with it ,its very newbie friendly too.

It only uses two simple moving averages and a forex mtn indicator.

 

chart is 5 mins

 

add a 100 sma and a 50 sma. (my 100 sma is yellow and my 50 sma is purple)

add the forex MTN indicator.

 

PUT TRADE

if the 100 sma is above the 50 sma then we are in a downtrend and looking for a put trade only. 

wait for price to rise above both of the sma's and a RED dot to appear on the forex MTN, then trade 30 mins starting on open of next candle

 

CALL TRADE

if the 100 sma is below the 50 sma then we are in an uptrend and looking for a call trade only.

wait for price to go below both of the sma's and a BLUE dot to appear on the forex MTN then trade 30 mins starting on open of next candle.

 

 

as i say, it has been working very well for me and it is so simple and with not many indicators at all there is always room for more indicators for extra confimation without the chart being too cluttered. 

 

 

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  • FXCM MetaTrader 4 2.png
  • FXCM MetaTrader 4.png

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#2 Tripack

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Posted 10 February 2015 - 10:35 AM

Ah, Moving average ? Trading with the trend ? Allowing enough room to settle up ? Looks like very good ingredinents to mix ! (be careful about MAs spacing though).

Simple, clean, efficient :D



#3 tradesmart

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Posted 10 February 2015 - 10:39 AM

Also seems to have better success when both sma,s are pointing in direction of the trade.

If anyone has any suggestions on any other indicators or anything useful that might help this strategy be even more solid then feel to post with your sugesstions. There's no I in team haha.

#4 tradesmart

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Posted 10 February 2015 - 10:43 AM

Ah, Moving average ? Trading with the trend ? Allowing enough room to settle up ? Looks like very good ingredinents to mix ! (be careful about MAs spacing though).
Simple, clean, efficient :D


Oh yes that reminds me, make sure the space between the two sma's is fairly decent. Too close together and I would avoid.

#5 Tripack

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Posted 10 February 2015 - 10:49 AM

I would suggest to keep it like that, adding more stuff to it would also blur out the whole idea.

Yoiu do have:

1. a trend indication

2. a potential entry indication while still in the bigger trend

3. You don't need 3 with bins.

 

So yep, spacing and also candle sizes (look for brakes), and with enough room to breathe you have something very valid and very simple here my friend ! :P


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#6 tradesmart

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Posted 10 February 2015 - 10:53 AM

I would suggest to keep it like that, adding more stuff to it would also blur out the whole idea.
Yoiu do have:
1. a trend indication
2. a potential entry indication while still in the bigger trend
3. You don't need 3 with bins.
 
So yep, spacing and also candle sizes (look for brakes), and with enough room to breathe you have something very valid and very simple here my friend ! :P


That was my original thinking too to be honest. Why try and fix something if its not broke :)
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#7 Tripack

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Posted 10 February 2015 - 11:18 AM

Yeah, well, I still think that with bins you need to approach things the simplest way, that is technically speaking.

Once you're in there it's all about self evolution on individual level but that is another story (such as the old greed and fear etc), but to those who are reading this, believe me you don't need more than something like this, or simple quick bounce trades in order to be successful.

The key is within yourselves and how you look at things, from which perspective. And that is something technical analysis cannot solve, unfortunately.


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#8 tradesmart

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Posted 10 February 2015 - 11:33 AM

Its true, when I think about it I've had more success with strategies that are simple with less indicators than strategies that are made complex cluttered with indicators. The best indicator is you yourself.
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#9 Tripack

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Posted 10 February 2015 - 11:45 AM

Yeah same here, in fact I think it is a necessary journey somehow to go & look for all kinds of complex stuff out there.

 

Without the intention of finger-pointing here, some stuff we regularily see is about following something like 5+ rules in order to place a 60 sec trade which will be at the mercy of your broker's feeds in the end.

I don't know about you guys but for me I just want to close my charts, when it gets too complex something's wrong, at least with bins; I don't speak about longer term trades which need precise trade management by fine tuning at times depending on evey individual risk aversion, but here's it's fire & forget, not gambling don't take me wrong, just stacking odds to your side.

 

Anyways let's leave some room for others :D


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#10 easy123

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Posted 10 February 2015 - 12:30 PM

Where can i get the MT4 indicator on the chart above? A nice system i must say.



#11 tradesmart

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Posted 10 February 2015 - 01:11 PM

Where can i get the MT4 indicator on the chart above? A nice system i must say.

 

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#12 easy123

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Posted 10 February 2015 - 01:29 PM

Thanks tradesmart, but does it repaint?



#13 Tripack

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Posted 10 February 2015 - 02:34 PM

Thanks tradesmart, but does it repaint?


You probably mean the MTN one ? I can't tell since I never used it but by the looks of it I can tell for sure it will either repaint as such or just keep drawing dumb dots over and over again, it's the weakest link here anyways.

#14 tradesmart

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Posted 10 February 2015 - 02:50 PM

Thanks tradesmart, but does it repaint?


It doesn't repaint but it does as tripack says draw some dumb dots, but not all over the place, just wait for a dot when price is above or below the sma's

#15 Tripack

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Posted 10 February 2015 - 02:53 PM

What in case of true reversal, except MAs crossing, how will dots react ? Just curious.

#16 tradesmart

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Posted 10 February 2015 - 03:04 PM

Well I've been very impressed with the forex MTN ever since I used it, I'm not normally a fan of dot indicators or arrow indicators, but the forex MTN I must say impressed me for some time now.
The dots seem to only appear when price reaches an extreme high or extreme low.

#17 easy123

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Posted 10 February 2015 - 04:27 PM

Well I've been very impressed with the forex MTN ever since I used it, I'm not normally a fan of dot indicators or arrow indicators, but the forex MTN I must say impressed me for some time now.
The dots seem to only appear when price reaches an extreme high or extreme low.

Thanks for the response. In your charts, its only on EURUSD tthat you traded it with. can it work in other pairs?



#18 tradesmart

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Posted 10 February 2015 - 04:41 PM

Thanks for the response. In your charts, its only on EURUSD tthat you traded it with. can it work in other pairs?


Yes it can. Eur/usd is just a personal favourite of mine.

#19 jaycool79

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Posted 10 February 2015 - 10:34 PM

Yes it can. Eur/usd is just a personal favourite of mine.

thank you tradesmart.. :)

i know its simple to set up, but would you mind sharing the template..too lazy.. :D

cheers.



#20 yawyks

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Posted 11 February 2015 - 12:13 AM

Well I've been very impressed with the forex MTN ever since I used it, I'm not normally a fan of dot indicators or arrow indicators, but the forex MTN I must say impressed me for some time now.
The dots seem to only appear when price reaches an extreme high or extreme low.

 

ForexMTN is a remake of the value chart where the dots appear at a certain high/low vc level. Put the 2 together to see what I mean.


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