Disliked{quote} First week of being fully converted to this system. Did not get any entry for Thursday and Friday but I was happy enough just to be on the sideline, watching markets creating big, crazy movements. However, on Friday I was getting one entry signal on UJ, a counter-trend trade, that checked all the rules for 5-EMA method (price closes above 5-EMA, the next candle opens with the same color). If I had not placed my TDI, I would have entered with less risk, knowing it was a counter trend. Thanks to the TDI, I noticed that the first candle that...Ignored
reading your post and the price action on your UJ H1 chart,
I think it is obvious you missed learning the Natural Flow of the Forex Market tutorials videos which Big E posted back in 2009.
Big E' 5-Method Basics:
> the higher TF 'trend' for H1 is bearish, therefore no buy trade. the previous Day close big red candle
> the first TDI signal is not good because the price action show consolidation area... Post#647
> you should be looking for sell continuation setups - price pull-back reversal or simply price action bounce and make sure with both Stoch and TDI confluence signals.... Post#261
the rest of #647 checklist is below.
Your safest trades will always be when green crosses red and you enter on candle 1 or 2... odds are in your favor. Why? Because I'm expecting 3-8 candles... which is average...
With bounce trades the odds are lower for your success... but it still works.
When wanting to enter a TDI trade... take a moment first to observe basic 4x things... like:
How close am I to the previous high or lo
Am I in an uptrend or downtrend.. short & long term...
Am I in or close to a consolidation area
Are the previous candles small...
Look at the candles on the last reversal... big, little, what
How does the momentum look right now (12-2, 4-6)
Does Stoch's confirm the TDI signal
Sounds like a lot of stuff but it's basic stuff and only takes a moment to observe it...
If you don't already know these things... don't trade live yet... www.babypips.com is a good place to learn about the basics of trading 4X.
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You will do well with when you have the discipline keeping to One, Two and Three { click and read },
then after your first 1,000 trades you will see the true results of Trading Made Simple.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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