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Attachments: The Small Turtle System (Donchian Trend +MACD)
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The Small Turtle System (Donchian Trend +MACD)

Quoting jpntrader
{quote} Thank you very much as well, man. Glad I could help. I'm still in a journey to find the best utilization of this system myself. But forex trading is a world where the more you share your knowledge, the better it is for you and everyone. Have a nice weekend, man. {quote} Hey man on what time frame you took the EJ and GJ?
4HOUR
Cut your losses. Cut your losses. Then maybe you have a chance
Quoting guderian
{quote} hello ali, what is your overall profit this week , in percentage ?
more than 6 %
but not all weeks like that you will get some weeks with loses but most of weeks you will make money
montly you can achieve from 3% to 15% according to market conditions
but i focus in how much i will risk and market is my boss he give me money for good work and behaviour because i never fight him
and i am happy when the market take some bribe (losses)
i never determine how much i will need to achieve but i told you the average of most months according to past
and you may get two losses months in the year so you must learn how to deal with losses
Cut your losses. Cut your losses. Then maybe you have a chance
LEARNING CHART
NZDJPY 4 HOUR
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Cut your losses. Cut your losses. Then maybe you have a chance
WAITING FOR REACTION HERE
EURJPY 4HOUR
WAIT FOR ANY TREND TO BE BROKEN AND GIVE YOU ENTRY POINT
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AND HERE US500 4 HOUR
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US 500 DAILY
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US 500 WEEKLY
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Cut your losses. Cut your losses. Then maybe you have a chance
HOW TO KNOW THAT YOU ARE GOOD TRADER OR NO
ASK YOUR SELF THIS QUESTION
1- IN ANY TRADE DO YOU THINK HOW MUCH YOU WILL LOSE OR HOW MUCH YOU WILL WIN
2-TAKE TOO MORE TRADES OR FILTER THEM
3- DID WIN AND LOSE HAVE THE SAME EFFECT ON YOUR EMOTION OR DIFFERENT EFFECT
4-DID YOU HAVE CONFIDENT ON YOUR SELF AND DONOT TAKE ANY TRADING IDEA FROM ANY ONE UNTILL YOU SEE IT AND MAKE YOUR DECISION OR TAKE ANY TRADE
EVERY ONE READ THIS POST
PUT YOUR OPINION AND ANSWER FOR THIS QUESTIONS
AND TELL THE TRUTH
Cut your losses. Cut your losses. Then maybe you have a chance
Quoting Alihelmy123
HOW TO KNOW THAT YOU ARE GOOD TRADER OR NO ASK YOUR SELF THIS QUESTION 1- IN ANY TRADE DO YOU THINK HOW MUCH YOU WILL LOSE OR HOW MUCH YOU WILL WIN 2-TAKE TOO MORE TRADES OR FILTER THEM 3- DID WIN AND LOSE HAVE THE SAME EFFECT ON YOUR EMOTION OR DIFFERENT EFFECT 4-DID YOU HAVE CONFIDENT ON YOUR SELF AND DONOT TAKE ANY TRADING IDEA FROM ANY ONE UNTILL YOU SEE IT AND MAKE YOUR DECISION OR TAKE ANY TRADE EVERY ONE READ THIS POST PUT YOUR OPINION AND ANSWER FOR THIS QUESTIONS AND TELL THE TRUTH
1- IN ANY TRADE DO YOU THINK HOW MUCH YOU WILL LOSE OR HOW MUCH YOU WILL WIN
I think about how much I'll have to pay if the trade doesn't play out. Winning is never guaranteed but losing is almost certain.

2-TAKE TOO MORE TRADES OR FILTER THEM
I trade too much now because this system does the thinking for me and all I have to do is pull the trigger, but I swear I will set a maximum amount of trade per day from now on because I experienced the bad effect last week

3- DID WIN AND LOSE HAVE THE SAME EFFECT ON YOUR EMOTION OR DIFFERENT EFFECT
Losing still feels "aaww man.." a bit to me, whereas winning doesn't really affect me.
I am gradually becoming able to forget my loss fast and my win even faster.

4-DID YOU HAVE CONFIDENT ON YOUR SELF AND DONOT TAKE ANY TRADING IDEA FROM ANY ONE UNTILL YOU SEE IT AND MAKE YOUR DECISION OR TAKE ANY TRADE
Oh YES I am absolutely confident with my decision especially since I converted to this system.
When you trade pure market structure, sometimes the way you see the market will be different from what others see. You see sell while other people see buy.
But with this system, given that you have backtested and forward tested it for enough time, as I said before, the system already does the thinking for you, you just have to pull the trigger. Confidence is the "only" thing you need.
Quoting jpntrader
{quote} 1- IN ANY TRADE DO YOU THINK HOW MUCH YOU WILL LOSE OR HOW MUCH YOU WILL WIN I think about how much I'll have to pay if the trade doesn't play out. Winning is never guaranteed but losing is almost certain. 2-TAKE TOO MORE TRADES OR FILTER THEM I trade too much now because this system does the thinking for me and all I have to do is pull the trigger, but I swear I will set a maximum amount of trade per day from now on because I experienced the bad effect last week 3- DID WIN AND LOSE HAVE THE SAME EFFECT ON YOUR EMOTION OR DIFFERENT...
Hi JPN, always a interesting reading your posts! What bad effect did you have from over trading last week ?
Quoting jpntrader
{quote} 1- IN ANY TRADE DO YOU THINK HOW MUCH YOU WILL LOSE OR HOW MUCH YOU WILL WIN I think about how much I'll have to pay if the trade doesn't play out. Winning is never guaranteed but losing is almost certain. 2-TAKE TOO MORE TRADES OR FILTER THEM I trade too much now because this system does the thinking for me and all I have to do is pull the trigger, but I swear I will set a maximum amount of trade per day from now on because I experienced the bad effect last week 3- DID WIN AND LOSE HAVE THE SAME EFFECT ON YOUR EMOTION OR DIFFERENT...
GREAT BRO
I KNOW THAT YOU WILL WRITE YOU TAKE MANY TRADES
TRY TO FOCUS IN 4 OR 5 TRADE ONLY THIS WEEK
AND DECREASE POSITION SIZE TELL THERE IS NO EMOTIONAL EFFECT FROM LOSSES
NO ONE CAN CONTROL EMOTIONS IN BIG LOSSE MAKE IT SMALL
Cut your losses. Cut your losses. Then maybe you have a chance
Quoting Yaya21
{quote} Hi JPN, always a interesting reading your posts! What bad effect did you have from over trading last week ?
WHY YOU DONOT ANSWER THE FOUR QUESTIONS
Cut your losses. Cut your losses. Then maybe you have a chance
LEARNING CHART
AUDCAD 4HOUR
LEARNING CHART
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Cut your losses. Cut your losses. Then maybe you have a chance
EVERY ONE HAS DIFFERENT LOOK FOR CHARTS
I LOVE SUPPORT AND RESISTANCE WITH TREND AND MACD +APB CANDLES TO DETERMINE ENTRY AND EXIT
LEARNING CHART
NZDJPY 4 HOUR
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Cut your losses. Cut your losses. Then maybe you have a chance
DR ALEXANDER ELEDER MENTIONED IN HIS BOOK TRADING FOR LIVING THE IMPORTANCE OF MULTI TIME FRAME ANALYSIS
EXAMPLE IF YOU TAKE TRADE IN DAILY FIRST YOU MUST SEE THE BIGGER TIME FRAME WEEKLY AND NEVER TAKE TRADE AGAINST IT
AND SMALLER TIME FRAME 4 HOUR
SOMETIMES I TAKE TRADES ACCORDING TO THIS CONSEPT
EXAMPLE
US500 WEEKLY
RETURN FROM TREND
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US 500DAILY
RETURN FROM WEEKLY TREND WITH GOOD PRICE ACTION
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US500 4 HOUR
CHANNEL BROKEN
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IN LIKE CASE I TAKE TRADE IN DAILY TIME FRAME AFTER LOOK IN WEEKLY AND 4 HOUR TIME FRAME
Cut your losses. Cut your losses. Then maybe you have a chance
Quoting Alihelmy123
HOW TO KNOW THAT YOU ARE GOOD TRADER OR NO ASK YOUR SELF THIS QUESTION 1- IN ANY TRADE DO YOU THINK HOW MUCH YOU WILL LOSE OR HOW MUCH YOU WILL WIN 2-TAKE TOO MORE TRADES OR FILTER THEM 3- DID WIN AND LOSE HAVE THE SAME EFFECT ON YOUR EMOTION OR DIFFERENT EFFECT 4-DID YOU HAVE CONFIDENT ON YOUR SELF AND DONOT TAKE ANY TRADING IDEA FROM ANY ONE UNTILL YOU SEE IT AND MAKE YOUR DECISION OR TAKE ANY TRADE EVERY ONE READ THIS POST PUT YOUR OPINION AND ANSWER FOR THIS QUESTIONS AND TELL THE TRUTH
1-I think how much I will lose
2-I take many because I want to increase my learning curve of the system and see all of it
3-It does not affect me emotionally to lose or win since before taking my position I already know my risk
4-I have absolute confidence, if the system gives an entry and I consider it to be good, there is nothing else to think about, I adjust the risk and inside I do not care about the opinion of others, only the system
Quoting Alihelmy123
firsty i want to thank all members helping new traders in this site if you want to be consistent profitable trader be here this thread will be more than strategy i will try to target all points to make traders in the right road firstly there are many important points every trader must know 1- success formula in trading consist of (emotional control - money mangment -trading system) 85%of traders focus on the trading strategy only so they never be consistent 2- the exit is more important than entry 3- cut losses quikly and let profits run ( the golden...
thank you very much for this great thread
Quoting Yaya21
{quote} Hi JPN, always a interesting reading your posts! What bad effect did you have from over trading last week ?
Hi Yaya, thank you very much for the warm message. I'm glad I could help.

So last week, I forgot which day, but there was this one day where I found multiple opportunities on 1H time frame within a very close time interval.
I ended up taking a total of five trades a day.
I thought that when your wins and your losses are not evenly distributed, you need to collect as many sample size (take as many trades) as possible.
Plus it's my own account anyway; I have no daily limit like those prop firm accounts.

All trades were executed safely within my risk profile and I was aware of the amount of money I would lose if those five trades fail.
But then all of the sudden, I felt anxious; even when knowing those trades were all within my allowed risk.
"What if those trades did end up hitting full SL and all profits from the week are cancelled because of today?" I thought.

That's when I realized I was trading too much.
If I had known that I would be having 5 trades at a time, I would have diversified my 1% risk to all of those trades (so each trade would be 0.2% risk).
But the problem is, those five trades happened not at the same time, so I didn't know I would be having 5 opportunities.
this is the point where I decided, okay from now on I will only be risking a fix amount of % a day (in the form of maximum trades per day).
A revelation, you would say. Haha.

What happened to those trades?
I ended up monitoring closely all of those and got breakeven overall. Guess what, if I had not done that, they would have gone full SL! All of them!

Before this system, I traded pure market structure with supply and demand, so there were lots of days where I did not get any trade. Therefore, on the day that several opportunities come, I took them all.
That mindset was naturally brought over to this system; however since I pretty much find setups every single day, I now realized that I should change this aspect of me.
Quoting Alihelmy123
{quote} GREAT BRO I KNOW THAT YOU WILL WRITE YOU TAKE MANY TRADES TRY TO FOCUS IN 4 OR 5 TRADE ONLY THIS WEEK AND DECREASE POSITION SIZE TELL THERE IS NO EMOTIONAL EFFECT FROM LOSSES NO ONE CAN CONTROL EMOTIONS IN BIG LOSSE MAKE IT SMALL
Ahahaha yes just like what you thought.
I will try to focus on fewer numbers of trade this week, and limit my maximum trades per day so I don't overtrade (this way, my position size could still be the same because I am already comfortable with the current risk profile).
Experience taught me well. Haha.

Have a nice trading week, Ali.

Quoting Alihelmy123
DR ALEXANDER ELEDER MENTIONED IN HIS BOOK TRADING FOR LIVING THE IMPORTANCE OF MULTI TIME FRAME ANALYSIS EXAMPLE IF YOU TAKE TRADE IN DAILY FIRST YOU MUST SEE THE BIGGER TIME FRAME WEEKLY AND NEVER TAKE TRADE AGAINST IT AND SMALLER TIME FRAME 4 HOUR SOMETIMES I TAKE TRADES ACCORDING TO THIS CONSEPT EXAMPLE US500 WEEKLY RETURN FROM TREND {image}{image} US 500DAILY RETURN FROM WEEKLY TREND WITH GOOD PRICE ACTION{image}{image} US500 4 HOUR CHANNEL BROKEN {image}{image} IN LIKE CASE I TAKE TRADE IN DAILY TIME FRAME AFTER LOOK IN WEEKLY AND 4 HOUR TIME...
Ali this is a great insight, thank you.
I trade the 1H and I do look at D1 first.
But for the lower time frame reference, which one you would advise me?
Will 15m be good?
Quoting javipenjamo
{quote} 1-I think how much I will lose 2-I take many because I want to increase my learning curve of the system and see all of it 3-It does not affect me emotionally to lose or win since before taking my position I already know my risk 4-I have absolute confidence, if the system gives an entry and I consider it to be good, there is nothing else to think about, I adjust the risk and inside I do not care about the opinion of others, only the system
great bro
but taking many trades donot increase learning curve you must learn to be have the behavior of experienced trader
by fitering the setups and take A+ ONLY IF YOU LEARN TO MAKE 10% PROFIT FROM 15 TRADES IT WILL
BETTER THAN MAKING 10% FROM 50 TRADES
AND REMEBER ALL EXPERIENCED TRADERS GET LOSSES AND SOMETIMES LOSSES STREAK AND HOW YOU DEAL WITH LOSSES THAT WHAT DETERMINE YOU WILL SUCESSE OR NO
Cut your losses. Cut your losses. Then maybe you have a chance
Quoting javipenjamo
{quote} thank you very much for this great thread
WELCOME BRO
Cut your losses. Cut your losses. Then maybe you have a chance
Quoting jpntrader
{quote} ahahaha yes just like what you thought. I will try to focus on fewer numbers of trade this week, and limit my maximum trades per day so i don't overtrade (this way, my position size could still be the same because i am already comfortable with the current risk profile). Experience taught me well. Haha. Have a nice trading week, ali. {quote} ali this is a great insight, thank you. I trade the 1h and i do look at d1 first. But for the lower time frame reference, which one you would advise me? Will 15m be good?
bro
if you trade 1 hour you must look for 4 hour and 15 minutes
before looking in 1 hour you must go first to 4 hour determine trend and marketconditions then look to 1 hour and 15 minutes in 15 minutes look for pattern broken in your direction or any thing in your direction
example if 4 hour time frame is long
you go to 1 hour and wait until it go short and then give you setup to move long so long setups in the same direction of 4 hour timeframe YOU
will have good chance to make money with high probabilty
some traders but stop in 1 hour and take profit in 4 hour Time frame it decrease win rate but winners are very big and make them good money
Cut your losses. Cut your losses. Then maybe you have a chance
Quoting Alihelmy123
{quote} bro if you trade 1 hour you must look for 4 hour and 15 minutes before looking in 1 hour you must go first to 4 hour determine trend and marketconditions then look to 1 hour and 15 minutes in 15 minutes look for pattern broken in your direction or any thing in your direction example if 4 hour time frame is long you go to 1 hour and wait until it go short and then give you setup to move long so long setups in the same direction of 4 hour timeframe YOU will have good chance to make money with high probabilty some traders but stop in 1 hour...
Roger that, Ali. Will try if I can find something out of this concept.
Also thank you for the second tips.
I think it's somewhat similar to what I did before; aiming for HTF low/high while entering from the LTF.
But now I'll just enter and exit the trade according to the system rule, that alone saves me from decision fatigue.

Oh btw, Ali, could you tell me the setting for the average channel?
I am experimenting with similar channel indicator on Tradingview,
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but I think you haven't told us the setting for that.
I am using these settings, please take a look if this is ok.

Moving Average Channel
Upper channel length: 20, source: high
Lower channel length: 20, source: low
offset/shift: 3
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