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Attachments: The Paradox System
Exit Attachments

The Paradox System

Entered long at 2000 NY time open bar - 113.486 Just after I entered the bar went down and DB attached.
  • Post #6,162
  • Quote
  • Edited Aug 23, 2016 3:54am Aug 22, 2016 11:52pm | Edited Aug 23, 2016 3:54am
Date: 23-08-2016 - 2.00 GMT

Daily:
ROMAR - Resistance
EMA - Support
PSAR - Support

Check List:
Last MACD 0 crossing - Up
Last EMA Alert Arrow - Up after MACD up
Last DB Attachment - 112.303 bottom
Fibo up or down - Down
Notes: EMA, White and Smooth sliding under Purple. Open candle at 61.8 Fibo.

2 HR:
OPEN PRICE - 113.532
ROMAR - Support
EMA - Resistance
PSAR - Resistance

Check List:
Last MACD 0 crossing - MACD down
Last EMA Alert Arrow - Up at this candle, so not set in stone yet. After MACD down
Last DB Attachment - 113.323 bottom
Fibo up or down - Down
Notes: The market is ending its downswing at ROMAR support. White already crossed Purple and open candle above Smooth.

1 HR:
ROMAR - Support
EMA - Resistance
PSAR - Support

Check List:
Last MACD 0 crossing - Up
Last EMA Alert Arrow - Up before MACD up
Last DB Attachment - n/a
Fibo up or down - Down
Notes: The market is ending its upswing with White and Smooth crossed Purple, Parabolic has flipped on current candle and open candle is above EMA.

Final Notes for all three charts: All Fibo's are down, but ROMARs are out of sync with H1/H2 being support and Daily being resistance.

Entry:
Consolidation:
Long: On H1 we already have a Limegreen EMA arrow and MACD arrow up. On H2 we have an unconfirmed Limegreen arrow up. Will enter long when H2 MACD arrow up confirms uptrend and/or H2 Parabolic flip with new momentum and market retraces into support on H1 and H2. But first I will wait what the JPY high impact news will do.
Short:

Notes for readjustments: 4.00 GMT: BoJ Governor Kuroda Speaks - High impact

Update 6.00 GMT: Now we have a Red EMA arrow, MACD down arrow and coral MA arrow down on H1, and we have Red EMA arrow on H2. Will wait on H1 Limegreen arrow to appear first and then H2 Limegreen EMA arrow and/or Parabolic flip. That will now be my entry point.
Quoting Elflaco
Date: 22-08-2016 - 2.00 GMT Daily: ROMAR - Resistance EMA - Resistance PSAR - Support Check List: Last MACD 0 crossing - Up Last EMA Alert Arrow - Up after MACD Last DB Attachment - 112.303 bottom Fibo up or down - Down Notes: Purple is at the crossing of EMA with EMA now just sliding on top, Parabolic has flipped. White and Smooth is sliding below Purple. 2 HR: OPEN PRICE - 113.671 ROMAR - Support EMA - Support PSAR - Support Check List: Last MACD 0 crossing - Up Last EMA Alert Arrow - Up after MACD up with EMA down in between because of 50 pip...
Well, I closed my trade due to the upcoming high impact JPY news in 7 minutes at +0 pips. About my entry yesterday: it wasn't the best move to go long when H1 and H2 Fibo had flipped and we were at the top with just 25 pips to Fibo 0.0 level. Despite that I wasn't really concerned that my SL would had hit in a swing down, because it was behind H1 and H2 ROMAR and also behind support on Daily and H2 ROMAR did hold. A better trade yesterday would probably have been to sqeeuze in 20 pips down till ROMAR.
When the market was at +20 I moved my stop to +10. When the market came back down that was hit, so I'm out with +10 pips.
Quoting InDaMoment
When the market was at +20 I moved my stop to +10. When the market came back down that was hit, so I'm out with +10 pips.
Think in terms of statistics. If you dont take the time to calculate the proper entry and rely on a break evened S/L or even a +10 S/l : You then not gather the proper amount of pips to mop out your losses. Therefore when market runs straight the opposite of your position, you lose 40 pips, and your winnings (10 pips accumulations) dont mop out the losses PLUS you worked like a damned soul for all that. There's no way you're going to get all those entry right. It is impossible. (Trading is not if this then that. It's : if this then I look at this then I wait a little while until that other that is aligned with those other that until the setup is about to pop; i.e. I need 10 more pips for a S/R hit, Ema/Romar, etc. then BOOM it all disappears into nothingness (with your entry; if you were too eager to pull the trigger at number 1)) : 1) While in the process of the setup showing up or 2) before you have time to pull the trigger. Setup after setup. Then : once in a while (I don't want to put numbers here, but The Paradox is intraday, so you're looking for 1 trade per day. not complicated.) you have a great setup that you are very confident about and you pull the trigger just in time and you know it is a great entry. You feel very confident in leaving the trading station; leave the computer and come back a bit after. You need to pull the trigger in those times only. Setups will come, we choose them. You can see it is an emotional game before anything else. A mind game where you control yourself.

In the long run that kind of behavior will kill your account (B/E+ upgraded S/L). If you are to put +10 S/L with a 40/40 I suggest that instead, you take profit right away. Even, this will also kill your account in the long run (with the paradox system) (Dont get me wrong though. Some scalpers are successful, but they use a different set of rules, their T/P-S/L are tighter. Statistics.)

If your entry is right and you have faith, there's no way you would put a S/L. You position yourself in the market and let run. You take into account that there might be an announcement during your entry, so dont trade just before : trade after. Some times a news/announcement will provide enough liquidity to hit S/R. If the setup is already righ but lacking those counter-traded $'s, the news/announcement will often provide it (if considerd bearish/bullish when the market is totally opposite). You use that liquidity to trade the returnal into trend from S/R. -SOME TIMES- lol... Some news you dont want to be in Before, After, even days after.

There's a lot to pay attention to. They are an example.

Adapt or get rekt.

Edit: changes in the mid paragraph.
No tree, it is said, can grow to heaven unless its roots reach down to hell
In the light of daily ranging, 4h into reversal mode : that 2h SAR attachment at downtrend PSAR was pretty cute. Did not produce the 40 pips yet.

That entry is past history. Nothing could bring the trigger point of that precise entry back.
No tree, it is said, can grow to heaven unless its roots reach down to hell
Quoting Jaymantos
In the light of daily ranging, 4h into reversal mode : that 2h SAR attachment at downtrend PSAR was pretty cute. Did not produce the 40 pips yet. That entry is past history. Nothing could bring the trigger point of that precise entry back.
You're saying you use a 4h chart? Why would you wanna do that when the system is built for 2h and Daily?
I believe I meant 1H, sorry I am no more trading the Paradox. (Very great system by the way.) I indeed trade with a 4h. But that is all I will say. I already spoke too much.


Don't take it for a dissuasion to trade the Paradox. It is not a dissuasion. Learn as much as you can from it.

And never take the wise words from a stranger as they are ( even more if he's kind and shit). Challenge them thoughts, after all they might no more hold true when you discover your way of trading.. make them thoughts your own. Keep discussing the Paradox you guys make a great job.
No tree, it is said, can grow to heaven unless its roots reach down to hell
Quoting Jaymantos
Very great system by the way.
Couldn't agree more
Quoting Jaymantos
I believe I meant 1H, sorry I am no more trading the Paradox. (Very great system by the way.) I indeed trade with a 4h. But that is all I will say. I already spoke too much. Don't take it for a dissuasion to trade the Paradox. It is not a dissuasion. Learn as much as you can from it. And never take the wise words from a stranger as they are ( even more if he's kind and shit). Challenge them thoughts, after all they might no more hold true when you discover your way of trading.. make them thoughts your own. Keep discussing the Paradox you guys make...
I'm curious why you do not trade it anymore if you find it a great system, what made you decide to quit?
Well I'm trying long term trading, for which the paradox is not especially designed for.
No tree, it is said, can grow to heaven unless its roots reach down to hell
Nothing is granted. You should not pay much attention to my words. I should be an entertainment nothing else. copy/paste the thread in a word doc and never come back on FF. It's an emotional game. If you let anyone play in your head, you're doomed. I can see you are questionning the system just by your question. It works, take the time to see how.
No tree, it is said, can grow to heaven unless its roots reach down to hell
Quoting Jaymantos
Nothing is granted. You should not pay much attention to my words. I should be an entertainment nothing else. copy/paste the thread in a word doc and never come back on FF. It's an emotional game. If you let anyone play in your head, you're doomed. I can see you are questionning the system just by your question. It works, take the time to see how.
I am not doubting the system by any means. If I would, I wouldn't have devoted all my time to it. I was just wondering why you wouldn't trade a system if you yourself think it's great.
I think diablo 2 was the greatest game of all times. Unfortunately I dont play it anymore.
No tree, it is said, can grow to heaven unless its roots reach down to hell
Quoting Elflaco
Date: 23-08-2016 - 2.00 GMT Daily: ROMAR - Resistance EMA - Support PSAR - Support Check List: Last MACD 0 crossing - Up Last EMA Alert Arrow - Up after MACD up Last DB Attachment - 112.303 bottom Fibo up or down - Down Notes: EMA, White and Smooth sliding under Purple. Open candle at 61.8 Fibo. 2 HR: OPEN PRICE - 113.532 ROMAR - Support EMA - Resistance PSAR - Resistance Check List: Last MACD 0 crossing - MACD down Last EMA Alert Arrow - Up at this candle, so not set in stone yet. After MACD down Last DB Attachment - 113.323 bottom Fibo up or down...
hi mate
your plan is good
i check it with my chart
i will post my chart please compare it with yours
i thing some thing wrong
tanx
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Quoting mahmood.tava
{quote} hi mate your plan is good i check it with my chart i will post my chart please compare it with yours i thing some thing wrong tanx {image} {image} {image}
Hi mahmood,

Your charts are exactly like mine.
Quoting Elflaco
{quote} Hi mahmood, Your charts are exactly like mine.
tanx mate
Quoting Elflaco
Date: 23-08-2016 - 2.00 GMT Daily: ROMAR - Resistance EMA - Support PSAR - Support Check List: Last MACD 0 crossing - Up Last EMA Alert Arrow - Up after MACD up Last DB Attachment - 112.303 bottom Fibo up or down - Down Notes: EMA, White and Smooth sliding under Purple. Open candle at 61.8 Fibo. 2 HR: OPEN PRICE - 113.532 ROMAR - Support EMA - Resistance PSAR - Resistance Check List: Last MACD 0 crossing - MACD down Last EMA Alert Arrow - Up at this candle, so not set in stone yet. After MACD down Last DB Attachment - 113.323 bottom Fibo up or down...
I took a trade today, which was not according to my plan. I entered long at 8.00 GMT H2 open candle. I got the Limegreen arrow on the H2 as well as the H1, but both were not set in stone, as they just appeared on the open candles. I was anticipating since the H2 open candle was above EMA with White and Smooth under Purple in a slider and Purple close to EMA. Ofcourse my plan asked for the Limegreen arrows, but they needed to be set in stone. That was my intention when creating the plan, but when I saw the arrows I took the trade in a whim, which is the worst I could have done.

So while I was acting on emotion afraid to miss out on a trade I missed a lot of signals that told me this was not the right time, besides the fact that the Limegreen arrows where not set in stone yet. I missed the fact that the H1 4 horsemen where all pointing down, just above ROMAR, and therefore where not in sync with H2. Next to that H2 Purple was still under EMA in a slider, which told me EMA was still resistance and also holding Parabolic as resistance. So all and all a very bad trade and if I had just stick to my plan, I wouldn't had a 40 pip loss. Woudn't had a win either, as my plan only contained a long entry, but the most important is that I wouldn't had a loss today. I also need to work on my trading plan, but if I don't follow my plan it's useless. Lesson learned.
If anyone took a trade today on EURJPY, could you please tell where you took it and what the reasons were for your entry?
At 9:00 (-6:00 GMT) i sold eurjpy because the price was at the smooth, and shorted to a down trend line, scored 15 pips, took out just before retraced.
I was looking at the down trend in both daily and 1 hour, 2 hour not entirely convinced of down. This is not a textbook trade based on paradox strategy but just a scalp. looking in a couple/few hours for market to move and maybe trend for us.
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