Cut your losses. Cut your losses. Then maybe you have a chance
The Small Turtle System (Donchian Trend +MACD)
Good day. Today I opened 2 positions. Hope that enterences are correct. Both are short. It is daily chart. As I understood we exit position when candle changes color? Right? {image} {image}
EURUSD RETURN FROM WEEKLY SUPPORT AND THERE IS ENGULFING CANDLE IN DAILY CHART
IT IS GOOD BUT NOT A+ NEXT TIME BETTER WAIT FOR RANGE BROKEN
SO CUT LOSSES QUICKLY AND IF MARKET GIVE YOU CHANCE TO RIDE BIG TREND DONOT LEAVE IT
Cut your losses. Cut your losses. Then maybe you have a chance
Sometimes, in order to fully grasp the system, you have to be 100% into it even though you know you could do otherwise. This is what I mean. USDCHF 1h TF. My first entry was correct in everything. Except that it pulled back and the candle changed color. I knew that it was just a pullback and I could hold onto this position; but I was trying to follow the original rule (for now, at least). Closed the position with a very very tiny profit; but then a setup candle appeared again and I should have taken it. But it was late at night in my place. I don't...
SOMETIMES IN BIG TRENDS IT MAY BE 8 OR 9 HOUR CANDLE AND YOUR SLEEP TIME COME AND YOU DONT KNOW WHEN WILL CLOSE THE TRADE
IT HAPPEN WITH ME IN GBPJPY 1 HOUR THIS WEEK BUT I LEAVE IT AND SLEEP AND WHEN GET UP I FOUND IT STILL TRENDING IN PROFIT
BUT IF COME EXIT POINT OR RE ENTRY WHEN SLEEP YOU MAY FEEL BAD
FOR ME I DONT RISK MORE 1% AND LEAVE IT
SOMETIMES I LEAVE IT AND EXIT POINT COME AND I DONT EXIT BECAUSE I WAS SLEEPIND BUT BY LUCK IT RETURN IN MY DIRECTION AGAIN AND GIVE ME MORE PROFIT
THE BIG MOVEMENT IN YOUR DIRECTION THAT IS THE KEY BECAUSE IT REMOVE 4 OR 5 LOSSES
AND GO OUT QUICKLY SOMETIMES IN SMALL LOSSE OR PROFIT THAT PREVENT YOU FROM BIG DROWDOWN
AND ANY BIG PROFIT SWAPS THIS LOSSES
MOST OF TIMES LOSSES AROUND 0.5% BECAUSE I CLOSE WHEN CANDLE COLOR CHANGE
AND SOME OF WINNERS MAY GIVE 4% OR 5% IT REMOVE 8 OR 10 LOSSES IF THERE IS THIS AMOUNT OF LOSSES
Cut your losses. Cut your losses. Then maybe you have a chance
Sometimes, in order to fully grasp the system, you have to be 100% into it even though you know you could do otherwise. This is what I mean. USDCHF 1h TF. My first entry was correct in everything. Except that it pulled back and the candle changed color. I knew that it was just a pullback and I could hold onto this position; but I was trying to follow the original rule (for now, at least). Closed the position with a very very tiny profit; but then a setup candle appeared again and I should have taken it. But it was late at night in my place. I don't...
BUT DO NOT TAKE MORE THAN 5 OR 6 SETUP WEEKLY
AND DO NOT RISK MORE THAN 1%
FOCUS IN RISK
NO ONE CAN PREDICT THE MARKET
IT IS HOW TO MANAGE THE TRADE
Cut your losses. Cut your losses. Then maybe you have a chance
{quote} DONT FEEL DISAPPOINTED THERE ARE MANY SET UPS
But hey I'm showing myself again today. Ready to find any opportunities.
this are two examples of set ups
a+ setup like this one
a+ donot mean that it will hit rofit no it mean that you make ideal process and the market how determine go out with small losses or small profit or big profit you make ideal work if it loss i will not feel bad because i do what i can do perfectly 
and this second chart normal set up and candles are sideway better to wait for range broken 
these are learning chart only to deffirentiate between a+ and normal
may be normal make more profit may be the two lose may be the two profit
no one can predict
the goal is to make you work in ideal process and the market will give you money in the long run for your discipline and ideal work
a+ setup like this one
a+ donot mean that it will hit rofit no it mean that you make ideal process and the market how determine go out with small losses or small profit or big profit you make ideal work if it loss i will not feel bad because i do what i can do perfectly
and this second chart normal set up and candles are sideway better to wait for range broken
may be normal make more profit may be the two lose may be the two profit
no one can predict
the goal is to make you work in ideal process and the market will give you money in the long run for your discipline and ideal work
Cut your losses. Cut your losses. Then maybe you have a chance
{quote} FOR THAT I PREFER TO TRADE BIG TIME FRAMES LIKE DAILY AND LOOK FOR THE MARKET ONE TIME ON DAILY CANDLE CLOSE SOMETIMES IN BIG TRENDS IT MAY BE 8 OR 9 HOUR CANDLE AND YOUR SLEEP TIME COME AND YOU DONT KNOW WHEN WILL CLOSE THE TRADE
I am trading 15m-1h at the moment but I think I mentioned before that one day I too aim for HTF trading.
This system, and the settings of the indicator happen to be suitable to be applied on various time frames without any need to change its settings.
This is why I like it; basically I could make the jump (to higher time frames) anytime I want.
Will probably try slowly.
Thank you for all the positivity, Ali.
- #53
- Aug 3, 2022 11:22pm Aug 3, 2022 11:22pm
Since Ali is suggesting me to trade higher time frames...
AUDNZD 4H
Should have entered one candle ago, but since the price is not so far away from the original entry point, I entered just now.
Note that instead of using MACD, I am using TDI (Trader's Dynamic Index).
Basically gives the same confirmation as MACD.
TDI is a part of the "Trading Made Simple" system (Ali is also an active contributor there and this Turtle system is similar in nature).
The above thread has been active since it's first created back then in 2009, and I'm glad Ali even gives a more concrete rule in this system.
Have a great day.
AUDNZD 4H
Should have entered one candle ago, but since the price is not so far away from the original entry point, I entered just now.
Note that instead of using MACD, I am using TDI (Trader's Dynamic Index).
Basically gives the same confirmation as MACD.
TDI is a part of the "Trading Made Simple" system (Ali is also an active contributor there and this Turtle system is similar in nature).
The above thread has been active since it's first created back then in 2009, and I'm glad Ali even gives a more concrete rule in this system.
Have a great day.
- #54
- Aug 4, 2022 2:15am Aug 4, 2022 2:15am
{quote} FOR THAT I PREFER TO TRADE BIG TIME FRAMES LIKE DAILY AND LOOK FOR THE MARKET ONE TIME ON DAILY CANDLE CLOSE SOMETIMES IN BIG TRENDS IT MAY BE 8 OR 9 HOUR CANDLE AND YOUR SLEEP TIME COME AND YOU DONT KNOW WHEN WILL CLOSE THE TRADE
You advise to trade the big TF ( H4, D1 ) with a low risk (1%) and you are right - this trading is less stressful and often allows for very high gains
But iIdid some tests and I saw that your system gives good signals also in M5 TF , but using as filter M15.
I mean : if in M15 trend is long , in M5 look for long signals only . If in M15 trend is short , in M5 look for short signals only .
I also keep an eye on the general trend in H1.
- #57
- Aug 4, 2022 6:16am Aug 4, 2022 6:16am
{quote} Hi Guderian, would you like to show an example? Thanks in advance
Pair : EurUsd
Please look at the dotted vertical yellow lines
H1 : from 9:00 ( FxPro time ) 02 08 2022 : main trend is short :
M15 : from 8:45 = confirmed short :
so, in M5 I search only short : 5 profitable short :
