Lou, very nice addition! I love these tools that you have shared with us.
The thing I would say is that you have to be somewhat keen on price action. If you are in an up trend and you get a short signal, use some discretion, you do not have to try to milk every pip out of the market. If that short does turn into a reversal, then keep your eye on the pullback (most of the time there is one).
However, at the rick of vacillating, you can pretty much take most (valid) signals, trend and countertrend a like. But you have to TAKE them. You will get losers in every system. However hit the next signal. If you finish up for the day, then you shouldn't worry about the little loss you incurred on your way to a profitable day.
These tools are killer, but it still comes down to knowledge of price action, proper trade management and confidence in the system you are using.
You learn these things with these tools, in my opinion, is the closet thing to any sort of grail that you are going to achieve.
Thanks again Lou for the new tool. I will still keep my M1 system as is (TVI Modified, again profitable today), but I will definitely use this with M5 and higher. I look forward to posting the ALF SR trades on here.
Lohad
The thing I would say is that you have to be somewhat keen on price action. If you are in an up trend and you get a short signal, use some discretion, you do not have to try to milk every pip out of the market. If that short does turn into a reversal, then keep your eye on the pullback (most of the time there is one).
However, at the rick of vacillating, you can pretty much take most (valid) signals, trend and countertrend a like. But you have to TAKE them. You will get losers in every system. However hit the next signal. If you finish up for the day, then you shouldn't worry about the little loss you incurred on your way to a profitable day.
These tools are killer, but it still comes down to knowledge of price action, proper trade management and confidence in the system you are using.
You learn these things with these tools, in my opinion, is the closet thing to any sort of grail that you are going to achieve.
Thanks again Lou for the new tool. I will still keep my M1 system as is (TVI Modified, again profitable today), but I will definitely use this with M5 and higher. I look forward to posting the ALF SR trades on here.
Lohad