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  • #88,801
  • Jul 27, 2018 12:09am Jul 27, 2018 12:09am
Quoting DJsignals
{quote}
DJ
Am I wrong?
  • #88,802
  • Edited 1:16am Jul 27, 2018 12:53am | Edited 1:16am
Quoting emmanuel7788
{quote}My version: " The more time one spend looking at an indicator angle, the more time he has wasted and he will still be losing his hard-earned money trading retail forex".
Always come back to the same old storie Emmanuel.

Why don't you start your own thread and leave this thread the way BigE has left it.
------
No reason or argument will justify what you are trying to do Emmanuel. When a member wants to trade the a indicator (any type) he will.
------
What I don't understand Emmanuel is the chart's you post's. You make the statement that all indicators are lagging and price action is the only way forward.
Then why don't post such chart's? (Some chart's are)
Pure price action does not use any information that a indicator provide. That mean just that: No ATR, RSI, MA and other indicators.
Which mean basically the indicator folder in the Navigator Panel is empty of those type of indicators.
  • #88,803
  • Edited 3:05am Jul 27, 2018 12:56am | Edited 3:05am
Quoting DJsignals
Anyone take this bearish engulfing? {image}
DJ
Pun intended: How long do you stare at those two MA indicator's?
----------
Too early.
- Green has not crossed red.
- Lower time frames show massive consolidation, support level, stoch wrong direction
A lot of reasons not to trade and to wait.
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  • #88,804
  • Jul 27, 2018 1:07am Jul 27, 2018 1:07am
Quoting Tekkies
{quote} DJ Am I wrong?
No Tekkies, you are not wrong.
Any random probability number is fine.
Your suggested number is possible.
  • #88,805
  • Jul 27, 2018 1:16am Jul 27, 2018 1:16am
Quoting Tekkies
{quote} DJ Pun intended: How long do you stare at those two MA indicator's?
Not long, just several seconds everytime new daily candle occured.

FYI, i dont trade the cross of those two MA's.
Im used those as "mean reversion".
Im used those as dynamic support resistance.
Im used those as confluence.
  • #88,806
  • Jul 27, 2018 1:19am Jul 27, 2018 1:19am
Quoting RickM
{quote} My Version The more time one spend looking at an indicator angle, the more time they have wasted not understanding the current market type therefore taking the wrong trades at the wrong time at the expense of there Equity.
You were saying
Post 88,803
  • #88,807
  • Jul 27, 2018 1:22am Jul 27, 2018 1:22am
Quoting Tekkies
Too early. - Green has not grossed red. - Lower time frames show massive consolidation, support level, stoch wrong direction A lot of reasons not to trade and to wait. {image}
Yup too early, but i have different view to entry.
I used 50% retracement rule, so my risk will be smaller than my reward.
  • #88,808
  • Jul 27, 2018 1:29am Jul 27, 2018 1:29am
Quoting DJsignals
{quote} Not long, just several seconds everytime new daily candle occured. FYI, i dont trade the cross of those two MA's. Im used those as "mean reversion". Im used those as dynamic support resistance. Im used those as confluence.
DJ
You not stupid.
------
What do you mean by those three point's DJ? I can not see how they can give those type of information.
Can understand:
crossover = change in trend direction.
Band's far apart = momentum
When they entwine each other = consolidation
  • #88,809
  • Jul 27, 2018 2:06am Jul 27, 2018 2:06am
Quoting Tekkies
{quote} DJ You not stupid. ------ What do you mean by those three point's DJ? I can not see how they can give those type of information. Can understand: crossover = change in trend direction. Band's far apart = momentum When they entwine each other = consolidation
My answer is simple.
I dont want to debate about your chart and my chart.
Me and you have different view,
Me and you have different believe.

My view using those two MA's is price action is under that two MA's
So its downtrend, and as you can see those two MA's act as resistance in downtrend and also act as mean reversion in downtrend.

When i drop TDI to my chart, its clear, its downtrend.
RSI stay below 50 level, so its downtrend, as we know TDI is based on RSI.

So its same result about reading the trend, with using two different tools.

And now about entry timing.
You are used TDI, Stoch, and lower timeframe, and you said its too early.
For me its too early as well, but i used 50% retracement entry.

So its same result about timing entry, with using two different ways.

But im newbie, i can totally wrong about my words.

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  • #88,810
  • Jul 27, 2018 2:54am Jul 27, 2018 2:54am
Quoting DJsignals
{quote} Yup, its good when trade TDI cross in same direction with main trend, but not always good decision. When trade TDI cross against the trend, is bad decision, but not always bad decision. Trading is probability game. How you win this probability game? For me, this is my tool, its called Risk Reward. Risk Reward is crucial. Risk reward is the most important aspect of trading. See table below, even with 30% of winner, can produce money bigger than 70% of winner. {image}


on the 25% winning one you are forced to risk small percentages of your account or you will slip into huge drawdown sooner or later.

easy to get 20 losers in a row with that kind of winrate.

what will that do to your account if risking 2% or more per trade?


the 70% winner is superior as you will slip into less drawdown and can also safely risk more of your account per trade
  • #88,811
  • Jul 27, 2018 3:03am Jul 27, 2018 3:03am
Quoting emmanuel7788
{quote} {image} After 2 weeks, this starts to move below the Entry Price level. With some profits from the last 2 weeks, I can now start to scale-in more positions. {image}


what was the price action that made you want to place trades here?
  • #88,812
  • Jul 27, 2018 3:14am Jul 27, 2018 3:14am
Quoting kain775
{quote} on the 25% winning one you are forced to risk small percentages of your account or you will slip into huge drawdown sooner or later. easy to get 20 losers in a row with that kind of winrate. what will that do to your account if risking 2% or more per trade? the 70% winner is superior as you will slip into less drawdown and can also safely risk more of your account per trade
I think you had misconception about that risk reward.

Here example to explain those risk reward table.

I will take this pinbar trade if those trade give me atleast 2 times risk.
In this picture below, its give me potential profit 4,4 times risk to the price target.
So i will take that pinbar trade.

If we only looking trade with minimum 4 times risk, in 10 trade, and 7 is loser, we still make profit bigger than 1 times risk.
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  • #88,813
  • Jul 27, 2018 3:19am Jul 27, 2018 3:19am
Quoting DJsignals
{quote} I think you had misconception about that risk reward. Here example to explain those risk reward table. I will take this pinbar trade if those trade give me atleast 2 times risk. In this picture below, its give me potential profit 4,4 times risk to the price target. So i will take that pinbar trade. If we only looking trade with minimum 4 times risk, in 10 trade, and 7 is loser, we still make profit bigger than 1 times risk. {image}
If we only looking trade with minimum 4 times risk, in 10 trade, and 7 is loser,
we still make profit bigger than 1 times risk (7 win in 10 trade).

Hope this explain about that table of risk reward.
  • #88,814
  • Jul 27, 2018 3:21am Jul 27, 2018 3:21am
Quoting DJsignals
{quote} I think you had misconception about that risk reward. Here example to explain those risk reward table. I will take this pinbar trade if those trade give me atleast 2 times risk. In this picture below, its give me potential profit 4,4 times risk to the price target. So i will take that pinbar trade. If we only looking trade with minimum 4 times risk, in 10 trade, and 7 is loser, we still make profit bigger than 1 times risk. {image}
This pinbar trade only example to measure risk reward.
That pinbar is not good example for entry.
  • #88,815
  • Jul 27, 2018 3:24am Jul 27, 2018 3:24am
Quoting kain775
{quote} what was the price action that made you want to place trades here?

I did make a few posts on USDCAD in the past 2 weeks. Maybe you missed them.

Anyway, on that Weekly chart.

its BEEB/BEOB

some may see DBHLC (james16)

On the Daily, last week Friday closed as DBHLC. I posted this on the weekend.
https://www.forexfactory.com/showthr...9#post11284949


these are common price bar patterns I use instead of saying small candle, big candle as in Post#647 which can be rather subjective, how small is small, how big is big, etc.

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #88,816
  • Jul 27, 2018 3:32am Jul 27, 2018 3:32am
Quoting DJsignals
{quote} My answer is simple. I dont want to debate about your chart and my chart. Me and you have different view, Me and you have different believe. My view using those two MA's is price action is under that two MA's So its downtrend, and as you can see those two MA's act as resistance in downtrend and also act as mean reversion in downtrend. When i drop TDI to my chart, its clear, its downtrend. RSI stay below 50 level, so its downtrend, as we know TDI is based on RSI. So its same result about reading the trend, with using two different tools....
If you like MA crossover, Big E posted one in his old thread.

https://www.forexfactory.com/showthr...69#post4353069

But remember,
#1 importance is the PA
#2 is the TDI for confirmation of the price momentum.

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #88,817
  • Jul 27, 2018 3:45am Jul 27, 2018 3:45am
Quoting DJsignals
{quote} I think you had misconception about that risk reward. Here example to explain those risk reward table. I will take this pinbar trade if those trade give me atleast 2 times risk. In this picture below, its give me potential profit 4,4 times risk to the price target. So i will take that pinbar trade. If we only looking trade with minimum 4 times risk, in 10 trade, and 7 is loser, we still make profit bigger than 1 times risk. {image}

If you want to improve your trades Risk:Reward, then you will have to consider Big E's

CONSERVATIVE entry and AGGRESSIVE exit.

This should increase your wins R-Multiples and your Expectancy.

If anyone still do not know what is Big E's CONSERVATIVE entry and AGGRESSIVE exit, then you have not read all his posts and taken notes of what he wrote.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #88,818
  • Jul 27, 2018 3:45am Jul 27, 2018 3:45am
Quoting emmanuel7788
{quote} If you like MA crossover, Big E posted one in his old thread. https://www.forexfactory.com/showthr...69#post4353069 But remember, #1 importance is the PA #2 is the TDI for confirmation of the price momentum. {image}
Hi Emm,

I dont focused on MA crossover.
Im used those as "mean reversion".
Im used those as dynamic support resistance.
Im used those as confluence.

Agreed, #1 importance is the PA.

About #2 is the TDI for confirmation of the price momentum.
I dont used it anymore as confirmation, because every pinbar and engulfing always give same momentum on TDI.
So im take it down.

I think my chart is not relevant anymore here in TMS thread.
I just dont know where to post my chart.
Because im start in here, im keep posted here.
  • #88,819
  • Jul 27, 2018 3:48am Jul 27, 2018 3:48am
Quoting DJsignals
{quote} This pinbar trade only example to measure risk reward. That pinbar is not good example for entry.

Pin Bar reversals... at key support /resistance,

these are Aggressive reversal entry and are more risky.

You need to mitigate your trade risks when you trade those Pin Bars reversal.

How to mitigate the risks?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #88,820
  • Jul 27, 2018 3:50am Jul 27, 2018 3:50am
Quoting DJsignals
{quote} Hi Emm, I dont focused on MA crossover. Im used those as "mean reversion". Im used those as dynamic support resistance. Im used those as confluence. Agreed, #1 importance is the PA. About #2 is the TDI for confirmation of the price momentum. I dont used it anymore as confirmation, because every pinbar and engulfing always give same momentum on TDI. So im take it down. I think my chart is not relevant anymore here in TMS thread. I just dont know where to post my chart. Because im start in here, im keep posted here.


Yes, experienced traders do not trade moving averages, indicator cross signals, etc.

we trade the price and its price action.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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