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Trading PlanetX & Oscillators

  • #41
  • Mar 17, 2022 6:39pm Mar 17, 2022 6:39pm
Quoting robots4me
{quote} Exactly!!! I know you were kind of joking but this also relates to my pendulum / feedback post. In ALL systems, the metric that is being measured diverges from an equilibrium only very minimually before feedback mechanisms pull it back toward equilibrium. Even though my chart of core body temperature appears to show large swings in temperature, when you look at the Y-axis you'll see the swings are < one degree. It all depends how you chart it. In MT4 the main price chart shows only the very tip of the iceberg -- < 1%. So, the chart you posted...
Right but you need to take into account ;

the potential amplitude of the swing
the fact that you do not short at the top and sell at the low (or conversely)
your transaction costs to enter and exit or your spread
  • #42
  • Mar 17, 2022 7:05pm Mar 17, 2022 7:05pm
Quoting BestTraderEv
{quote} You can trade anything under two conditions: 1. Your broker allows you to trade under your conditions, 2. The spread and/or commissions allow you to take a profit.

Quoting parisboy
{quote} Right but you need to take into account ; the potential amplitude of the swing the fact that you do not short at the top and sell at the low (or conversely) your transaction costs to enter and exit or your spread
Yes, yes -- but you guys know what I meant. The discussion so far has only referred to charts -- so, I was referring to potential Entries based on chart signals. The bookkeeping you refer to falls under money management -- which is a different topic. Also, you expert traders forgot to mention available margin...

When I look at your charts the first thing that pops into my head is not: "Oh, my, what's the spread"...
  • #43
  • Mar 17, 2022 8:58pm Mar 17, 2022 8:58pm
Quoting parisboy
{quote} Trading Edges Descending Valid Trendlines (red) linking 2 successive lower Tops of the same degree, nature. When broken on the upside you have a candidate Action Signal to enter Long Ascending Valid Trendlines (green) linking 2 successive higher Lows of the same degree, nature. When broken on the downside you have a candidate Action Signal to enter Short Cartouches Red Candidate to enter Short after touching of the Upper Limit of the 1536 Envelope (black) {image}
I was trying to reproduce your GJ chart but was having a heck of a time. At the top it says "1H", but it really is H4, right?

Could you help me to reproduce your chart on GJ / H4 -- I would like to compare your markings with those from PlanetX, DSS-Bressert and other indicators to see how well they align. The goal would be to see if we could convert @parisboy's discretionary rules into algebraic, codable ones.

To be honest, kind of looks like reversal trading to me. Brings back fond memories, right?
  • #44
  • Mar 18, 2022 5:19am Mar 18, 2022 5:19am
More trades: don't do this at home except you know what you are doing.

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  • #45
  • Mar 18, 2022 5:28am Mar 18, 2022 5:28am
Quoting robots4me
{quote} I was trying to reproduce your GJ chart but was having a heck of a time. At the top it says "1H", but it really is H4, right? Could you help me to reproduce your chart on GJ / H4 -- I would like to compare your markings with those from PlanetX, DSS-Bressert and other indicators to see how well they align. The goal would be to see if we could convert @parisboy's discretionary rules into algebraic, codable ones. To be honest, kind of looks like reversal trading to me. Brings back fond memories, right?
Robots4me

it was 1 Hour charts , it is written on it also on the watermark
  • #46
  • Mar 18, 2022 5:35am Mar 18, 2022 5:35am
Quoting bishopdotun
More trades: don't do this at home except you know what you are doing. {image} {image}{image}{image}
Do you trade with an EA?
On USDCHF you went short although the blue line and chart went up. Why did you decide short?
  • #47
  • Edited 6:03am Mar 18, 2022 5:36am | Edited 6:03am
Quoting bishopdotun
More trades: don't do this at home except you know what you are doing. {image} {image}{image}{image}
If you need to take so many positins in one direction, I would say that you don't really know what you are doing...
From your charts, it looks like you are just shooting blindly in series.

Oh, and by the way, I thought that spamming threads with non related topics is against the ethics of this forum?
And, how is your trading related to the topic of this thread? (You are the OP, after all...)
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #48
  • Mar 18, 2022 5:57am Mar 18, 2022 5:57am
Quoting BestTraderEv
{quote} If you need to take so many positins in one direction, I would say that you don't really know what you are doing... From your charts, it looks like you are just shooting blindly in series.

wow..... I decided not to respond to you in the language of your post. Remember to be nice the next time. I will keep my response nice.

 

  1. There is no one way of trading
  2. I can add on to trades as long as I want and confident the trend is still active
  3. I am trying to swing trade within a trend
  4. That PlanetX indicates buy doesn't mean you should buy/sell blindly and you know that BestTraderEV

  • #49
  • Mar 18, 2022 6:03am Mar 18, 2022 6:03am
Quoting bishopdotun
More trades: don't do this at home except you know what you are doing. {image} {image}{image}{image}
Bishopdotun

it seems that EURAUD 1 Hour is ready for a reversal
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  • #50
  • Mar 18, 2022 6:19am Mar 18, 2022 6:19am
Quoting BestTraderEv
{quote} If you need to take so many positins in one direction, I would say that you don't really know what you are doing... From your charts, it looks like you are just shooting blindly in series. Oh, and by the way, I thought that spamming threads with non related topics is against the ethics of this forum? And, how is your trading related to the topic of this thread? (You are the OP, after all...)
I suggest you read the topic once more; slowly this time.

Trading PlanetX and Oscillators
Objectives

  1. Trade with PlanetX
  2. Use any additional edge (MM, S/R e.t.c.).....

You probably missed that part. Additional edge include how you place your trades, trade size, how you close the trades e.t.c

Look I appreciate the work you have done with PlanetX so far. But I believe I was clear in the objective of the thread. I was equally clear about being polite with the language.

Also, I don't have to risk all with one trade. I can better gauge my risk when I apply it slowly throughout the course of a trade direction. This works for me very well. If I lose, I adjust my lot size accordingly and go again with the aim of recovering the loss and getting back into profit.

  • #51
  • Edited 6:39am Mar 18, 2022 6:22am | Edited 6:39am
Quoting bishopdotun
{quote} wow..... I decided not to respond to you in the language of your post. Remember to be nice the next time. I will keep my response nice. There is no one way of trading I can add on to trades as long as I want and confident the trend is still active I am trying to swing trade within a trend That PlanetX indicates buy doesn't mean you should buy/sell blindly and you know that BestTraderEV
Please don't feel offended by my style of writing. I can be harsh and direct, I am that way, and I think that this is actually the best way to go, because it tends to clear things up, though it does not help in befriending people. Yet, I don't really care about friends, because most of them are fake anyways, they are our friends bacause they think they can get something, like free drinks, or whatever.
I do see that you have the OnChart signals and that you are going against them.
And I see a lot of other nonsensical or illogical trades.

BTW. Of course there is just one proper way of trading!
PROFIT >> LOSS

And, yes, I know that PlanetX indicators are not perfect, but they are damn good!
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #52
  • Mar 18, 2022 6:29am Mar 18, 2022 6:29am
Quoting parisboy
{quote} Bishopdotun it seems that EURAUD 1 Hour is ready for a reversal {image} {image}
Yes we seem to be in a S/R zone but there is a huge possibility of breaking below this zone. If I notice some consolidation around this zone, I will look to close the current bunch of trades and start again. However, I will still maintain the short bias until there is a clear reversal around that area.

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  • #53
  • Mar 18, 2022 6:37am Mar 18, 2022 6:37am
Quoting bishopdotun
{quote} Yes we seem to be in a S/R zone but there is a huge possibility of breaking below this zone. If I notice some consolidation around this zone, I will look to close the current bunch of trades and start again. However, I will still maintain the short bias until there is a clear reversal around that area. {image}
Future Line of Demarcation (FLD) 64 - price translated in the future by 32 hourly bars crosses Price Action swing in the midlle.

Hence this confirms EURAUD 1 Hour is in the Low Zone.

Then we have 2 Options - Sideways or Up

We have to wait for confirmation
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  • #54
  • Mar 18, 2022 6:48am Mar 18, 2022 6:48am
Quoting BestTraderEv
{quote} ...I do see that you have the OnChart signals and that you are going against them. And I see a lot of other nonsensical or illogical trades. BTW. Of course there is just one proper way of trading! PROFIT >> LOSS And, yes, I know that PlanetX indicators are nor perfect, but they are damn good!
PlanetX signals are good but has weakness.... when the pair is ranging, you get a lot of false swings and that can bring many losses if you are not careful. Besides, I have seen several of your trades that are perhaps instincts and experience and has nothing to do with PlanetX. So why are you accusing me of not following PlanetX 100% when you are guilty of the same?

Everyone needs to find their own way of dealing with the false positives.

  1. Do you want to follow PlanetX blindly? if you do you will lose big time except you have other ways of handling the false positives
  2. If not, how do you hedge the risk?
  3. Do you have other ways of deciding which of PlanetX signals you want to ignore?

  • #55
  • Mar 18, 2022 6:58am Mar 18, 2022 6:58am
Quoting bishopdotun
{quote} PlanetX signals are good but has weakness.... when the pair is ranging, you get a lot of false swings and that can bring many losses if you are not careful. Besides, I have seen several of your trades that are perhaps instincts and experience and has nothing to do with PlanetX. So why are you accusing me of not following PlanetX 100% when you are guilty of the same? Everyone needs to find their own way of dealing with the false positives. Do you want to follow PlanetX blindly? if you do you will lose big time except you have extended If...
I wrote quite a lot about this on the other PlanetX thread, which I had joined first.
Do you two, you and @robots4me, expect me to repost those here?
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #56
  • Mar 18, 2022 7:02am Mar 18, 2022 7:02am
Quoting bishopdotun
{quote} I suggest you read the topic once more; slowly this time. Trading PlanetX and Oscillators Objectives Trade with PlanetX Use any additional edge (MM, S/R e.t.c.)..... You probably missed that part. Additional edge include how you place your trades, trade size, how you close the trades e.t.c Look I appreciate the work you have done with PlanetX so far. But I believe I was clear in the objective of the thread. I was equally clear about being polite with the language. Also, I don't have to risk all with one trade. I can better gauge my risk...
Bishopdotun. Thank you for you likes.

I do not want to hijack your thread with my pet subjects. I have mine. Tell me if you classify some Hurst tools as "additional edge" or not.

Any way your EURAUD 1 Hour chart was a by the book example. Thank you
  • #57
  • Mar 18, 2022 7:13am Mar 18, 2022 7:13am
When I was opening this trade, I am sure the signals were about short.
I didn't take a screen shot, unfortunatelly.
What happened here? I trailed my Stop Loss, and it got taken out, even though the price had been damn close to Take Profit. Normally I would have closed the trade when I had 200 pips profit, especially that the price had already pulled back on one M15 candle, then came back down, and bounced, but I wanted to be patient and see what would happen.
In my experience, this always happens, I always do better when I close manually.
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.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #58
  • Mar 18, 2022 7:39am Mar 18, 2022 7:39am
It is said that one picture makes for a thousand words:
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.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #59
  • Mar 18, 2022 7:58am Mar 18, 2022 7:58am
Let me explain why my reaction, when I see the type of trading as presented by @bishopdotun.
Let's use the example of EURAUDH1:
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.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #60
  • Mar 18, 2022 8:02am Mar 18, 2022 8:02am
Thus:
It is always more risky to sell at worse prices which are not retail.
Ideally, the trader should just Sell at the best prices, because he knows where the Stop Loss should be, and then let the trade run until there are good wholsale buy prices.
And, vice-versa for Long trades.

And, yes, there are no good reasons to Buy now, and there are no good prices to Sell now, either.
Though, this is a zone to watch for a possible reversal.
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
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