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Trading the Cable swings via averages

  • #341
  • Dec 5, 2018 6:06am Dec 5, 2018 6:06am
Quoting mickmack5
Hi Alan, First of all, I want to thank you for sharing such a wonderful method. I need to ask you about the current trade on the m5; are you suppose to close the trade and open an opposite trade (hedge) when you see a divergence against you, as explained in the chart. Thank You. {image}
You know what... I didn't actually see that, I was looking for continuation moves. You are correct I should have hedged there, then the hedge would have been stopped out a little later as the journey continued.
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Glad to see you are developing a good eye for the details.
  • #342
  • Dec 5, 2018 6:09am Dec 5, 2018 6:09am
Quoting Riaanvw
Hedge stopped out {image}
That is correct, we just never know if the hedge is going to turn into a full blown turn around, as I said to Jazz just think of it as insurance.

In this particular case the hedge ran straight into bullish RSI divergence.
  • #343
  • Dec 5, 2018 6:54am Dec 5, 2018 6:54am
Cool, thanks for clarifying
  • #344
  • Dec 5, 2018 7:01am Dec 5, 2018 7:01am
Thank you Alan for your time, appreciate it.
  • #345
  • Dec 5, 2018 8:01am Dec 5, 2018 8:01am
Divergence on M5 and H1
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  • #346
  • Dec 5, 2018 8:07am Dec 5, 2018 8:07am
Hi Alan,

I just realized that my chart's RSI is a bit different from yours and also Riaanvw, I have used your template that you have provided. Can you please advise? ( I have applied "Previous Indicators Data" on RSI 5 already). Thanks
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  • #347
  • Edited 8:33am Dec 5, 2018 8:12am | Edited 8:33am
Quoting Nala66
{quote} You know what... I didn't actually see that, I was looking for continuation moves. You are correct I should have hedged there, then the hedge would have been stopped out a little later as the journey continued.{image} Glad to see you are developing a good eye for the details.
Hi Nala,

First of all, thanks for a great thread - I'm trying to grasp it and hopefully put it to good use in the coming days/weeks. Who knows, perhaps I would be able to help with the improvement

However, today's entries left me a bit unsure if I'm doing things right. Hope you dont mind me drawing over your chart to show you what I mean. In yellow I've noted what I thought the entries should've been. My questions (in order of the entries) are:

- Do we trade before 7am, as I thought we only look for signals by that time?
- My 1st entry is taken "after" price closes above the EMA - I've backtested this and unless we're very far from the EMA (so we can expect some pullback due to our HTF analysis and price deviation) it usually doesn't work out very well to open below it. What is your take on that?
- My 2nd entry was same as your 3rd (Bulls find Support), so all good here
- My 3rd entry would've been on the break of the pivot - would that be correct if it's still within the 10 pips range we try to load our positions?

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Thanks in advance for your feedback!
  • #348
  • Dec 5, 2018 5:18pm Dec 5, 2018 5:18pm
Quoting Zelias
{quote} Hi Nala, First of all, thanks for a great thread - I'm trying to grasp it and hopefully put it to good use in the coming days/weeks. Who knows, perhaps I would be able to help with the improvement However, today's entries left me a bit unsure if I'm doing things right. Hope you dont mind me drawing over your chart to show you what I mean. In yellow I've noted what I thought the entries should've been. My questions (in order of the entries) are: - Do we trade before 7am, as I thought we only look for signals by that time? - My 1st...
I have never said you cannot trade before the 108 bar, what I am saying is that is where we would expect an increase in price activity. I am in the fortunate position of being in Australia so I have the advantage of being awake long before the 108 bar which is about tea time for me. It depends on what I have on for the day as to when I can get to the PC to trade. I would expect to at least get there by 108. I am spending a tad more time at the PC than normal because I am thinking about the stuff to put in this thread.

Nor do you have to get your three trades on specifically within ten pips, this is what I try to do but cannot always manage it. In fact sometimes I can only get the stage 1 trade on. We have to have a degree of flexibility, the market is not a rigid construction, it is always going to chuck variables at us. The trade is structured in such a way as to manage these variables responsibly for the best outcome we can expect to achieve.

If we continue to take small losses for the potentially much larger winning ones then we are very much putting the mathematics in our favour.

When I place my stage one trade I have no idea if the trade will work out or not and the same goes for stage 2 and 3 entries, what I do know from pure experience is that I have a very high probability of being correct and a very high return for risk as a result.

The simple thing to do is to practice with very small lot sizes such as 10c, 20c and 30c entries and then letting the 30c entry run for 40 pips. If you trade like this with real money you are forced to be honest with yourself because the results will show in your bottom line. Log the trade and comment on what you did correctly or wrongly and how the trades turn out. Don't just take my word for it, you have to prove it for yourself.

Good stuff keep, up the pace.
  • #349
  • Dec 5, 2018 6:13pm Dec 5, 2018 6:13pm
hi
thanks mate we learning everyday great system need a lot of practice thanks again
  • #350
  • Dec 5, 2018 6:58pm Dec 5, 2018 6:58pm
Quoting mickmack5
Hi Alan, I just realized that my chart's RSI is a bit different from yours and also Riaanvw, I have used your template that you have provided. Can you please advise? ( I have applied "Previous Indicators Data" on RSI 5 already). Thanks {image}
My charts are different as well. I think it has to do with the opening time of the Mt4 provider. A different opening time will change the candles. I use axitrader.
  • #351
  • Dec 5, 2018 8:55pm Dec 5, 2018 8:55pm
Quoting Paullum
{quote} My charts are different as well. I think it has to do with the opening time of the Mt4 provider. A different opening time will change the candles. I use axitrader.
That is strange I use Axitrader also...

On this 5 min chart I have put verticals so you can check the chart time.

Do you see divergence on the RSI at these two locations.
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  • #352
  • Dec 5, 2018 9:31pm Dec 5, 2018 9:31pm
Hello,
Once again i would like to thank Nala for this wonderful system, it is literally one of the best i ever traded. The thing i love most about this system is tight stoplosses and hedging, i never thought hedging could be that powerful. I'm still learning and improving everyday, the thing i'm struggling most with is the MM part, its really hard for me to keep myself calmed down while having those HUGE trades running, may be just because i'm not too confident about my entries yet. For practising purposes i cut my lot sizes relatively small, so i can learn the system with full focus without the fear of losing much money.
Here is a setup i took, i know its too early to take any setups for the day but i really want to practice this system as much as i can so i can master this quickly and then go BIG with this. There is div in both 1H and 15M charts, div in 1H is the main reason i'm taking this entry, Lets see how it plays out.
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  • #353
  • Dec 5, 2018 10:28pm Dec 5, 2018 10:28pm
Quoting haris1211
Hello, Once again i would like to thank Nala for this wonderful system, it is literally one of the best i ever traded. The thing i love most about this system is tight stoplosses and hedging, i never thought hedging could be that powerful. I'm still learning and improving everyday, the thing i'm struggling most with is the MM part, its really hard for me to keep myself calmed down while having those HUGE trades running, may be just because i'm not too confident about my entries yet. For practising purposes i cut my lot sizes relatively small, so...
Cool... Just remember at the wrong time of the day they are more likely to be relatively small scalps.
  • #354
  • Dec 6, 2018 1:51am Dec 6, 2018 1:51am
hi thanks again look very good
  • #355
  • Dec 6, 2018 2:47am Dec 6, 2018 2:47am
Hi Alan,

my chart is definitely different from your charts. If anyone can advise me on this will be great (other than changing broker). Thanks
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  • #356
  • Dec 6, 2018 2:56am Dec 6, 2018 2:56am
if you like, we could do a TeamViewer session, then I can look into your computer and check your MT4.
Just send me a pm if that's what you want.
Trading S/R with PA only. No indicators anymore!
  • #357
  • Dec 6, 2018 3:55am Dec 6, 2018 3:55am
Quoting mickmack5
Hi Alan, my chart is definitely different from your charts. If anyone can advise me on this will be great (other than changing broker). Thanks {image}
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lol
Good Trading
  • #358
  • Dec 6, 2018 6:34am Dec 6, 2018 6:34am
Quoting aud
{quote} {image} lol
Yours looks the same as mine to me...
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  • #359
  • Dec 6, 2018 7:02am Dec 6, 2018 7:02am
Morning all, took a few longs this morning
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  • #360
  • Dec 6, 2018 7:03am Dec 6, 2018 7:03am
Plus 40 pips
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