DislikedSo, about 45 minutes ago, I saw this Gold trade all the indicators are telling me that this trade is on a ride for long. I didn't consider if the 4H candle has closed, I jumped in because the 4TF are going in the same direction. Any suggestion on the possible error I may be committing. Thank you. Luttlebird. {image}Ignored
Trading Tips:
When using the Crossover or Continuation methods for entries, it is best to enter on the 1st, 2nd, or 3rd candle after the HMA Line crosses the Yellow Line. Otherwise, it is usually better to wait for the next trade set-up. This is because, as Big E used to preach, most often candles only run the same colors for 3-8 bars.
When using the Crossover or Continuation methods for entries, ideally, you should only enter if BOTH Stochastic have crossed the Purple 50 Line (in the direction you are trading), or if one has crossed and the other is very close to crossing the 50.
You MUST wait for the set-up candle to close before you enter OR exit a trade, otherwise it may close the wrong color(s) and you don't want to trade that.
It's often much riskier to enter a new trade immediately after an exceptionally large bar. So it's not suggested that you do it.
Whenever you enter a trade, make sure that the last bar has closed on the same side of the Yellow Line as the direction you are trading in.
When the two Stochastics cross in unison (or very close together), it's usually a better than average trade set-up. But, you also need the other indicators to agree before you enter.
Always enter a stop loss immediately when you place a trade.
Always a Student, Never a Master - Emulate What Works
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