It is okay. Just keep the good work. 
(binned per thread starter’s request) MM (Money Maker) Detective
- #4,326
- Jul 4, 2019 7:40am Jul 4, 2019 7:40am
- Joined Jun 2012 | Status: Trader | 1,281 Posts
Hello R4M,
I think the JPY pairs are using wrong SLs/TPs...
I think the JPY pairs are using wrong SLs/TPs...
I never lose - either I win or I learn...
So I've been doing my research in the background as usual. Testing and tweaking as we all should be to further progress the system, I notice everyone or perhaps most have thrown out the previous indicators for the new BD & I have a feeling combing BD with one that we have all used previously has a tendency to catch long term trends not just for a middle slice, but potentially the ENTIRE slice.
So first of all BD, I highly suggest we stick to the Daily timeframe when it comes to signals, and I know the likes of Steve and Bishop himself also agree with that statement, but here's where it differs, yes we will wait for a daily signal but we won't limit the analysis to the daily.
When you overlay SpikeHunter on top of BD ADR you get some nice confluence that 1. Doesn't lower the number of trades you'll be taking. 2. Lowers potential drawdown. 3. Gives you a key look into where targets should go and how far a trend is likely to exhaust itself.
For example; Here on the Daily we have SpikeHunter overlayed on BD using the standard TMA Centered settings when both are showing overbought/oversold conditions and a signal is valid confluence is built and drawdown is lowered:
Now here's the fun part; The key factor of our system we have all been chipping in to build is all about the price being overstretched and us as TRADERS joining price and riding it back to equilibrium correct? So if BD and SpikeHunter are showing price is far from fair equilibrium on the daily, why should you cut your trade short when an incredibly high percentage of the time price will pull back to SpikeHunter's midline and even push to the opposing band... I'm personally all for taking fewer trades that produce higher returns, but if you remember I said at the beginning of this post that you won't be taking fewer trades necessarily. What I am proposing is by laying both on top what you're essentially doing is building confluence showing where trends are exhausting themselves allowing you to take a larger piece of the action.
Now I know exactly what question you all will have in mind right now. "What about when BD ADR shows a signal on the daily, but SpikeHunter doesn't?" This is when I suggest you lower to the 4HR and descend your way down the timeframes until BD ADR and SpikeHunter both are showing signals. All you're doing is preparing yourself with realistic targets that will be hit more often than not, and allow you to leave fewer pips on the table, while still trading the daily BD ADR timeframe.
A key benefit of taking positions this way is that you will be able to build positions on a pair across various timeframes targeting the same areas whilst risking pennies in comparison.
Here are a few screenshots of lower timeframes laying out what I mean:
So first of all BD, I highly suggest we stick to the Daily timeframe when it comes to signals, and I know the likes of Steve and Bishop himself also agree with that statement, but here's where it differs, yes we will wait for a daily signal but we won't limit the analysis to the daily.
When you overlay SpikeHunter on top of BD ADR you get some nice confluence that 1. Doesn't lower the number of trades you'll be taking. 2. Lowers potential drawdown. 3. Gives you a key look into where targets should go and how far a trend is likely to exhaust itself.
For example; Here on the Daily we have SpikeHunter overlayed on BD using the standard TMA Centered settings when both are showing overbought/oversold conditions and a signal is valid confluence is built and drawdown is lowered:
Now here's the fun part; The key factor of our system we have all been chipping in to build is all about the price being overstretched and us as TRADERS joining price and riding it back to equilibrium correct? So if BD and SpikeHunter are showing price is far from fair equilibrium on the daily, why should you cut your trade short when an incredibly high percentage of the time price will pull back to SpikeHunter's midline and even push to the opposing band... I'm personally all for taking fewer trades that produce higher returns, but if you remember I said at the beginning of this post that you won't be taking fewer trades necessarily. What I am proposing is by laying both on top what you're essentially doing is building confluence showing where trends are exhausting themselves allowing you to take a larger piece of the action.
Now I know exactly what question you all will have in mind right now. "What about when BD ADR shows a signal on the daily, but SpikeHunter doesn't?" This is when I suggest you lower to the 4HR and descend your way down the timeframes until BD ADR and SpikeHunter both are showing signals. All you're doing is preparing yourself with realistic targets that will be hit more often than not, and allow you to leave fewer pips on the table, while still trading the daily BD ADR timeframe.
A key benefit of taking positions this way is that you will be able to build positions on a pair across various timeframes targeting the same areas whilst risking pennies in comparison.
Here are a few screenshots of lower timeframes laying out what I mean:
- #4,330
- Jul 4, 2019 9:37am Jul 4, 2019 9:37am
- Joined Oct 2017 | Status: Trader | 12,472 Posts
Cycles / Time
Envelopes / Amplitude
Waves / Energy
Envelopes / Amplitude
Waves / Energy
- #4,335
- Jul 4, 2019 1:07pm Jul 4, 2019 1:07pm
- Joined Sep 2017 | Status: Trader | 4,360 Posts
Trade to trade another day
