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Donchian Channel and other breakout methods 68 replies

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Attachments: The Small Turtle System (Donchian Trend +MACD)
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The Small Turtle System (Donchian Trend +MACD)

Quoting Alihelmy123
WHEN I BEGAN AND ADD THIS SYSTEM I HOPE TO HELP ANY ONE WANT TO LEARN TRADIND AND MY GOAL IS TO MAKE IT VERY EASY FOR NEW TRADERS FIRSTLY ANYONE FOCUS IN INDICATORS ONLY WILL LOSS YOU MUST LEARN RISK MANGMENT AND CONTROL EMOTIONS WHEN I TOLD NEW TRADERS THAT YOU MUST FILTERS SETUPS AND TAKE A+ SETUPS I KNOW THEY MAY FOUND IT DIFFICULT TO DETERMINE MARKET CONDITIONS ANY SYSTEM MUST DETERMINE THREE THINGS 1- STRONG ENTRY 2- STRONG EXIT 3- DETERMINE MARKET CONDITIONS I CAN MAKE MONEY TRADING WITH SUPPORT AND RESISTANC ONLY WITH TWO KEYS 1- CUT LOSSES...
5 EMA, this is exactly what I use. Very, very powerful.
Part of the 5-method by Eelfranz!
Quoting jpntrader
{quote} 5 EMA, this is exactly what I use. Very, very powerful. Part of the 5-method by Eelfranz!
Yes but we use it here for exit
Cut your losses. Cut your losses. Then maybe you have a chance
Quoting Alihelmy123
{quote} Yes but we use it here for exit
Agree, I use it mainly for exit as well.

Oops, my reply made your posts sank to the previous page. My bad.
People, especially those who are still new, make sure to check Ali's post number #199 and #200 about trading this Turtle System for beginners.
Quoting Alihelmy123
WHEN I BEGAN AND ADD THIS SYSTEM I HOPE TO HELP ANY ONE WANT TO LEARN TRADIND AND MY GOAL IS TO MAKE IT VERY EASY FOR NEW TRADERS FIRSTLY ANYONE FOCUS IN INDICATORS ONLY WILL LOSS YOU MUST LEARN RISK MANGMENT AND CONTROL EMOTIONS WHEN I TOLD NEW TRADERS THAT YOU MUST FILTERS SETUPS AND TAKE A+ SETUPS I KNOW THEY MAY FOUND IT DIFFICULT TO DETERMINE MARKET CONDITIONS ANY SYSTEM MUST DETERMINE THREE THINGS 1- STRONG ENTRY 2- STRONG EXIT 3- DETERMINE MARKET CONDITIONS I CAN MAKE MONEY TRADING WITH SUPPORT AND RESISTANC ONLY WITH TWO KEYS 1- CUT LOSSES...
Great upgrade to an already great system, thank you!
I TOOK TODAY TWO SETUPS
FIRST GBPJPY
TILL NOW AROUND +2R
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Cut your losses. Cut your losses. Then maybe you have a chance
Quoting Alihelmy123
WHEN I BEGAN AND ADD THIS SYSTEM I HOPE TO HELP ANY ONE WANT TO LEARN TRADIND AND MY GOAL IS TO MAKE IT VERY EASY FOR NEW TRADERS FIRSTLY ANYONE FOCUS IN INDICATORS ONLY WILL LOSS YOU MUST LEARN RISK MANGMENT AND CONTROL EMOTIONS WHEN I TOLD NEW TRADERS THAT YOU MUST FILTERS SETUPS AND TAKE A+ SETUPS I KNOW THEY MAY FOUND IT DIFFICULT TO DETERMINE MARKET CONDITIONS ANY SYSTEM MUST DETERMINE THREE THINGS 1- STRONG ENTRY 2- STRONG EXIT 3- DETERMINE MARKET CONDITIONS I CAN MAKE MONEY TRADING WITH SUPPORT AND RESISTANC ONLY WITH TWO KEYS 1- CUT LOSSES...
Hi Ali, thank you for this interesting upgrade .
A question : why did you replace the Synergy APB with the traditional Heiken Ashi ?
The differences are minimal, however
THE SECOND TRADE WAS EURJPY 4HOUR
ALSO AROUD +2R TILL NOW
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Cut your losses. Cut your losses. Then maybe you have a chance
Quoting guderian
{quote} hi ali, thank you for this interesting upgrade . A question : Why did you replace the synergy apb with the traditional heiken ashi ? The differences are minimal, however
you can use anyone
heiken ashi or apb
Cut your losses. Cut your losses. Then maybe you have a chance
EURUSD 1 HOUR
THIS ONE WAS GOOD BUT I DIDNT TAKE IT BECAUSE I TOOK ANOTHER TWO SETUPS

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Cut your losses. Cut your losses. Then maybe you have a chance
IF ANY ONE WAS TAKEN THIS WILL MAKE AROUND 10R
USDCAD 1HOUR
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Cut your losses. Cut your losses. Then maybe you have a chance
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Quoting lbtrader
{image}
Great
Cut your losses. Cut your losses. Then maybe you have a chance
Quoting Alihelmy123
EURUSD 1 HOUR THIS ONE WAS GOOD BUT I DIDNT TAKE IT BECAUSE I TOOK ANOTHER TWO SETUPS {image}
Aw man I saw this but 1)day job was in the way, 2)Monday's Asian session is not the best timing for my plan, so I skipped this.
Well well well I'll try again tomorrow.
LEARNING CHART
XAUUSD 4HOUR
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Cut your losses. Cut your losses. Then maybe you have a chance
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Quoting Alihelmy123
LEARNING CHART XAUUSD 4HOUR{image}
I took the trade on H1
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experienced trader can take macd line crosses in highly time frame with or without turtle trend after determine montly -weekly and daily support and resistance -trend lines and take trades near them or after broken them
example
learning chart
nzdjpy daily
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eurusd daily
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there are many setups daily and in 4hour every week try to filter them and take only 4 trades in week
trading higher timeframes are good in emotional control and it is suitable for part time traders
Cut your losses. Cut your losses. Then maybe you have a chance
when market give you chance to ride big trend you must learn to be patience
i am still in this two trades until i get exit setup
learning example
eurjpy 4hour
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gbpjpy 4hour
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Cut your losses. Cut your losses. Then maybe you have a chance
Quoting Alihelmy123
when market give you chance to ride big trend you must learn to be patience i am still in this two trades until i get exit setup learning example eurjpy 4hour{image} gbpjpy 4hour{image}
You said " you must learn to be patience".I agree, in trading patience is key.
But - during the trade - you risk having high drawdown , especially in the high TF.
Do you agree?
Quoting Guderian
{quote} You said " you must learn to be patience".I agree, in trading patience is key. But - during the trade - you risk having high drawdown , especially in the high TF. Do you agree?
I don't understand
I never risk more than 1% in any trade
Never take more than 5 trades in the week
I risk low to avoid big drawdown
If you take 20 trades monthly and win 10 and loss 10 and winners are bigger you will make money
If you win 12 trades and loss 8 and winners are bigger than losses you make big money
This week i open
Eurjpy and closed it around 3R profit
Gbpjpy and closed it around 2R profit
Eurusd daily trade still in it in small profit
Xauusd 4 hour still in it in aroud 1R till now
I will take another trade this week if the market give me chance
Not all weeks like that
Some weeks
Win 2 loss 2 or win 1and loss 3 or win 3 and loss 1
If winners are bigger you will make money
And if you losse 4 or5 trades in week and no winner your drawdown will not more than 4% because must of the time according to our exit we go out before market hit stop1%
Cut your losses. Cut your losses. Then maybe you have a chance
So many opportunities today on 1H time frame.
These are the ones I got in:

USDJPY
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AUDUSD
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EURGBP
This one is in drawdown.
If heikin ashi candle closes above the 5 EMA (red line), I'm cutting my loss there.
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GBPUSD
Freshly opened 30 minutes ago.
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Don't know what happened with my Donchian Trend indicator on Tradingview, it keeps lagging no matter how I change the settings; might be be because of the code. But since I don't understand pine coding, I changed the indicator with "Supertrend". Does exactly the same.

Also, here is one useful tip to you all from Eric a.k.a Big E a.k.a Eelfranz from this legendary thread, Trading Made Simple. Ali is also a contributor in that thread.
So, if you are about to take a position and you have your signal candle, then it closes BUT the next candle opens in the opposite color, do not enter no matter how good the signal candle is.
I made a small mistake today on AUDJPY short; did not pay attention when the new candle opens in the opposite color (the signal candle wasn't that good to begin with, anyway). 12 minutes after I opened position, I realized that and I closed it immediately
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