'erebus' quick is best way to get rich, trades

[erebus]

just thinking out loud here...

 

[erebus]

See if you can figure out what's going on here

 

[erebus]

shooting fish in a barrel today

 

[ryan]

good results

 

[erebus]

I meant to post this as disclaimer

 

[erebus]

Hey Dale / others,

Some ideas I am kicking around, long term trend following makes you rich, but dumb humans generally think of trading as finding the perfect entry & exit, right?

So we can't actually "see" a trend when it is happening right in front of us; or if we could, we would be rich from the recent GBP-AUD trend right?

Therefore, how to know the trend? Donchian has been a favorite of many long term huge funds management firms, right? Similar to Turtle Trading

What if use Donchian to "see" price action DIRECTION and 20 EMA to confirm? Keeping it simple

But how to trade it as human is too biased or emotional?

Use a short only or long only trading EA, I found this Grid trader with only a few parameters to change.

You can't tell me that this wouldn't have produced a profit between 1.95 and 2.15 ???

All I need to do is go with the trend, even if it is not long term YET just to see the trend is the thing, no candle patterns, no support / resistance, no human bias / fear

Appreciate any comments, suggestions, etc. = I will start out small on demo and keep you posted, depends on how much red wine of course!!

 

[erebus]

Reporting on some success here. A gain of $662 is 1.3% on $50,000 account but holding $167 open drawdown as I type. Trades are thanks to GBP continued the trend.

 

[erebus]

Friday update: Booked $1,315 profit and $60 open profit. Not sure how accurate this is as Windows 10 decided to update during the night and do a restart which left all MT4 shutdown, grrrr!

Here is a chart of USD-CHF to show the human element of my method, because price has not activated any trade by breaking Donchian Channel yet; but I have started the EA fo sell because:

1. Oscillator is falling
2. Price closed below 20 EMA
3. Triangle or Pennant breakout
4. A 1-2-3 setup
5. Trend line break

Comments or questions appreciated

 

[erebus]

Here is one that slipped past me, should have activate the Sell EA sometime on Thursday, this is Friday candle and it has made the ADR now 1 hour past London Open; on the radar for next week, any pullbacks, start selling

May the pips be with you, John

 

[TheForexGuy]

I've played around with channel breakouts a lot, and text book entries are usually to take the break of channel highs or lows, but the problem is many failed breakouts occur here.

Like you've shown it's better to find better entry criteria off channel techincals, like buy off channel bottoms or sell of channel tops via a strong buy/sell signal.

Also the longer the channel line is flat, the stronger the support/resistance level it becomes.

 

[erebus]

Hey thanks Dale, look where this chart ended down !!! A full 100 pips more than the ADR ??? WTF ???


As I said in the chat, I turned off the EA on every chart, close all trades as I want to work on the settings for next week. This was not the only pair that I had the direction right, missed so many demo pips!!!

The account of $50,000 was up $1,212 for the week, so almost 2.5%. Biggest loser was $68, only 0.136% - I need an EA that opens trades based on account size and ADR or something. I'm going to have to do some Excel work and calculate trade size for each pair instead of fixed lot of 0.05. I'm sure the profit would be much better.

 

[erebus]

The USD CHF chart previous is a great example, trade off the technicals and now confirmed by the DC breakout; will the trend continue? who knows? I'll keep chasing it on demo and test for a few more weeks, see what happens then, may the pips be with you

 

[erebus]

Still running this but I scaled back to 9 pairs only = AUDUSD,EURAUD,EURGBP,EURJPY,EURUSD,GBPJPY,GBPUSD,USDJPY,USDCAD

Some good results today with GBP news, see below chart, trend continuation after retracement, to easy

 

[erebus]

Ever see Metatrader setup like this?

 

[tjenarvi]

I seen this before somewhere, I think it's FXST

 

[erebus]

I seen this before somewhere, I think it's FXST

no, no, no

my Harley is FXST

http://www.totalmotorcycle.com/photos/2004models/2004-Harley-Davidson-FXSTISoftailStandard.htm

this is The Forex Army

http://www.theforexarmy.com/

 

[joffie]

have you joined the army erebus?

 

[erebus]

have you joined the army erebus?

I did, but never did see an EZ trade signal, my latest plan is to trade only DAILY signals, and only PIN BARS or ENGULFING BARS, and only at SUPPORT or RESISTANCE

so, not doing much

 

[erebus]

Bugger, can't post charts to the War Room for some reason, here is my Trading View DEMO account, just tripled it from $100,00 to $300,000

Now, I can't even upload here, will try on the weekend

 

[tahir123]

Yes, it is good box because with the major trend, yes, an indicator

I'm try to PM you, do we have that here, or I get ban for mention name of indicator?

Hey are u still using box breakout