DislikedHi everyone, It's been a while I've been following this blog... I decided to persuade a couple of mechanical systems for about 18-24 months to find out mechanical systems aren't the right tool for this market condition :-(. So I am back to a drawing board. I remember looking at this system and thinking to give it a go, but didn't because I had trouble to read those Heiken Ashi candles. I have several question to ask you and I'd appreciate if you could give me your honest answers :-). 1. I'm wondering which setup you guys trade and how much has the...Ignored
1. The setups i trade are based on simple PA and the TMS entry rules set by Big E's posts. If you want to know more about PA, check out Al Brooks PA books for as much price action information you could ever want to know. The system hasnt changed since Eelfranz's posts, but several people have slightly modified it to suit there needs, but i recommend following how this system was originally designed as it is,in fact, trading made simple and adding unnecessary things to it complicate things further.
2. I havent tested this system for 8 months, but i have for a couple months and i've been profitable (demo) thus far as you saw in my previous posts. I only take the best trade setups with confluence, but the TDI is the heart of this system in the end. If you want to learn how the TDI indicator actually works, you can do a google search on Dean Malone TDI and find out how it calculates price (sorry if you already have done this).
3. I havent really looked in depth about other PA based systems, so i cant really recommend any. But PA alone is tradable, but to me its hard to only use candlesticks for entries and exits. Maybe once i become more experienced i will be able to identify trades only by PA, but right now this system has worked for me this far, and i may never try any other system. I believe if you find a system that is easy, spend all your time trying to learn and perfect every aspect of that system (including PA) until you understand said system from front to back, and it becomes second nature to identify trades. It seems many people just decide to try a system for a short time and give up on it, moving on to the "next best thing". The good thing about the TDI is it shows market sentiment in relation to PA, so they complement one another. Just demo trade this system and see how it works for you, and only trade it as outlined by Big E, and all the other guys here carrying on this thread.