My Simple Strategy
- Thread starter GazFx
- Start date
- Watchers 19
Price action is below the EMA50, so this has not triggered an alert on my strategy. All things being equal, my strategy would be looking for a sell opportunity if or when price hits the EMA50. Cheers!
thats my target to at 50 EMA, i hope to sell when i see the candle close below the previous candle and CCI below the 100, do you have an indicator for this strategy?
GBPCAD ALERT - Late in the week, but just could not resist this one. Note that daily trend is also down:
i gotta give it to you GazFx, i just love the way you trade, nice one mate! cheers
I received the following You Tube comment:
"PRO JUST I ADD IN YOUR STRATEGY 2 INDICATORS ' MACD SAME SETTING AND FAST STOCHASTIC BY 8,5,5 ' JUST TRY IT GONNA WORK PERFECT WITH YOUR STRATEGY REALLY", Eslam Hassan
As promised, Eslam, I have inserted your indicators and settings to get a better look at your suggestion. It's interesting to see your inclusion of Stochastic, as this is the preferred indicator of Sam Seiden when applying this strategy. My preference is the CCI indicator, but as you can see, both give the same sell indication.
MACD goes completely against a sell. Firstly, MACD is converging with price action, which suggests rising prices to come, and secondly, this is combined with a cross-up above the zero line. Perhaps we really are looking at the end of this down-trend for the time being? If I were trading trend-reversals, then MACD would almost certainly be in the toolkit. But I am trading trend continuation opportunities, and for this the indicators I use are effective, and keep it simple.
Thanks, again!
"PRO JUST I ADD IN YOUR STRATEGY 2 INDICATORS ' MACD SAME SETTING AND FAST STOCHASTIC BY 8,5,5 ' JUST TRY IT GONNA WORK PERFECT WITH YOUR STRATEGY REALLY", Eslam Hassan
As promised, Eslam, I have inserted your indicators and settings to get a better look at your suggestion. It's interesting to see your inclusion of Stochastic, as this is the preferred indicator of Sam Seiden when applying this strategy. My preference is the CCI indicator, but as you can see, both give the same sell indication.
MACD goes completely against a sell. Firstly, MACD is converging with price action, which suggests rising prices to come, and secondly, this is combined with a cross-up above the zero line. Perhaps we really are looking at the end of this down-trend for the time being? If I were trading trend-reversals, then MACD would almost certainly be in the toolkit. But I am trading trend continuation opportunities, and for this the indicators I use are effective, and keep it simple.
Thanks, again!
Yes, I can see that. Your trade makes a lot of sense. We're just trading from slightly different perspectives, but I understand where you are coming from, and vice-versa. Cheers!
The MACD is divergence strategy, i came across it years ago but i dont use it currently, so based on this comment, what is your advice to the simple strategy? not to enter the sell but go buy based on MACD readings or ignore it all together and resume the sell short?
what i came across the simple strategy is the sell/buy candle must be a nice lenghty candle, like the buy candle opposite your arror indicating sell if the simjple strategy is to work perfect?
if you view GU on H4 with the simple strategy, the last sell candle is nice in lenght but the CCI is just touching the 100, not passed it, what do you reckon this trade direction would be after spread consolidates after todays market opening?
i also noticed that on your simple strategy and basis from your videos, the signal candle must close beyond the wick on the trailing candle to have a perfect entry, what do you suggest? i will put it to work this week if entries are there and let you know the outcome, cheers
The thing about convergence-divergence is that they are not always reliable as entry signals. They only "suggest" price direction to follow, but not how far price is likely to move. So, they can be accurate but fruitless. In the above example, divergence tells me that price retrace is real, and that I should prepare for downside continuation based on the strategy rules. In this instance the signal was wrong, and the trade was stopped-out. Longer candles are said to be better signals, but I would rather try to get in before the long candle forms...not always possible!
My honest answer is "I don't know...yet!" I never try to anticipate the next price move, which may sound a bit weird, but that is the job of the indicators and strategy rules. When they say "go", I go, otherwise I let the market take care of itself. Don't worry so much about what might happen, just worry about what does happen!
based on the simple strategy for GU H4, you would notice the candles has reached the 50 EMA, but based on your videos that i noticed, the sell candle did not close below the low wick of the alternate candle, even though CCI has now gone below the 100, it would not sell because of the candle not closing below the alternate candle wick touchinmg 50 EMA, it resumes the buy direction, what you reckon?