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The paradox System 2023 (for beginners)

  • #61
  • Edited 6:21pm May 19, 2023 6:07pm | Edited 6:21pm
Quoting Danielesse87
I want to quote that Dana's post from original thread...
I think it was this and other similar examples that prompted me to think about shorting today. We had the 3 charts in consolidated trend. In 2h we had the flip PSAR and the EMA/purple cross. We had all Fibo red (overbought)
the only differences were:
1- we were in an uptrend and not a downtrend as in the example.
2- the Daily in Dana's example had the 4 horsemen in trend for the longest time (perhaps)
Today however we had a Daily Ema that had just crossed purple to get back into the uptrend.
These are the only differences I can think of if we exclude clues from other TFs that weren't used initially (4H, Weekly)
  • #62
  • Edited May 20, 2023 2:08am May 19, 2023 6:13pm | Edited May 20, 2023 2:08am
Quoting Danielesse87
{quote} Penso che sia stato questo e altri esempi simili a spingermi a pensare allo short oggi. avevamo i 3 grafici in trend consolidato. In 2h abbiamo avuto il flip PSAR e l'EMA/croce viola. le uniche differenze erano: 1- eravamo in un trend rialzista e non in un trend ribassista come nell'esempio. 2- il Daily nell'esempio di Dana ha avuto i 4 cavalieri in trend per il tempo più lungo (forse) Oggi però abbiamo avuto un Daily Ema che aveva appena attraversato il viola per rientrare nel trend rialzista. Queste sono le uniche differenze a cui riesco...
perhaps Romar 2h outside the BB was also a decisive variable as lightning pointed out to me
  • #63
  • May 19, 2023 6:41pm May 19, 2023 6:41pm
I came to a conclusion that is the simplest. Mine wasn't a bad trade. What was wrong was my TP. I could not hope to reach 40 pips with all that support. The odds of cross Romar 1h were simply few. In fact my trade before turn was about 27 pips in profit. I should have close exactly there. And if I was good enough I would have also seen a chance to enter Long as Lightning suggested.
  • #64
  • May 21, 2023 5:50am May 21, 2023 5:50am
Quoting Danielesse87
I came to a conclusion that is the simplest. Mine wasn't a bad trade. What was wrong was my TP. I could not hope to reach 40 pips with all that support. The odds of cross Romar 1h were simply few. In fact my trade before turn was about 27 pips in profit. I should have close exactly there. And if I was good enough I would have also seen a chance to enter Long as Lightning suggested.
Your conclusion is completely wrong. You have mentioned you want to trade the system as per the rules laid out by Dana. This means a single clean 40 pip trade once per day around the releases.

I am telling you there was zero 0 chance of a short. Just because it went for 27 pips matters not, it was not a good entry at all. Try that entry again the next time the scenario comes up and you will loose. This is not a scalping system where you think you can slot in small trades here and there. You trade a 40 pip gap between support and resistance with the trend, in the moment.
  • #65
  • May 21, 2023 12:19pm May 21, 2023 12:19pm
Quoting L1ghtning
{quote} Your conclusion is completely wrong. You have mentioned you want to trade the system as per the rules laid out by Dana. This means a single clean 40 pip trade once per day around the releases. I am telling you there was zero 0 chance of a short. Just because it went for 27 pips matters not, it was not a good entry at all. Try that entry again the next time the scenario comes up and you will loose. This is not a scalping system where you think you can slot in small trades here and there. You trade a 40 pip gap between support and resistance...
hello lightning. Yes, I will still consider this a bad trade. I was just looking for reasons why it wasn't a good trade and on other occasions it might have been (see dana's post I mentioned)
  • #66
  • May 22, 2023 1:42am May 22, 2023 1:42am
Hello!
No plans and no trades for me today. Situation too complicated for me to understand. I'll watch what happens and note it in my diary
  • #67
  • May 22, 2023 5:20am May 22, 2023 5:20am
Quoting Danielesse87
Hello! No plans and no trades for me today. Situation too complicated for me to understand. I'll watch what happens and note it in my diary
Its happening right in front you now, in the moment

Apply support and resistance on your charts - what's the trend, what's the market telling you it wants to do
  • #68
  • May 22, 2023 5:49am May 22, 2023 5:49am
If your struggling to see it, open the Paradox charts on GBPJPY and start to watch it happen again
  • #69
  • May 22, 2023 6:06am May 22, 2023 6:06am
USDJPY is moving slower today, use it to learn, get that screen time
  • #70
  • May 22, 2023 12:52pm May 22, 2023 12:52pm
Quoting L1ghtning
{quote} Its happening right in front you now, in the moment Apply support and resistance on your charts - what's the trend, what's the market telling you it wants to do
Hi lightning!
Yes, I have looked at the charts even though I have not traded. At the moment you wrote me this message I saw exactly 1h full UP and on 2h we had a white/purple cross which eliminated the PSar as resistance and the opening above EMA. In also saw the effort that the market made to go under Romar 1h. In short, if I had a trading plan it would certainly have been for a LONG. Thank you very much again for your interventions are very helpful
  • #71
  • May 23, 2023 1:22am May 23, 2023 1:22am
Hi traders!
I went on reading the original thread between yesterday and this morning. I have to say that I feel the confusion growing in me after reading some things. It almost seems that when you think you have some things clear then these certainties falter when you move forward. These are probably advanced trades and that's why I have a hard time understanding them. Or maybe I still lack understanding of some basics. I do not know. There's a lot of economic news today so I'll stay still and take the opportunity to continue with the study. I can't wait for someone to add to the discussion. I really need a daily comparison. Someone "beginner"...I'm very grateful for the interventions of Hoss and Lightning but they are on another level of understanding. and rightly they won't waste time here with too detailed explanations. I feel a little discouraged. But I won't give up. See you soon
  • #72
  • May 23, 2023 9:21am May 23, 2023 9:21am
I've been waiting for this one - lets see how it goes. Live trade on USDCHF


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  • #73
  • May 23, 2023 11:58am May 23, 2023 11:58am
Quoting L1ghtning
I've been waiting for this one - lets see how it goes. Live trade on USDCHF {image} {image} {image} {image}
It looks good as far as I see. You have all the graphs for the LONG. Can I ask you in these situations which support do you look at for your entry? and on which chart?

EDIT:
I realize now that more than two hours have already passed. Are you still in that trade?
  • #74
  • May 23, 2023 2:44pm May 23, 2023 2:44pm
Quoting Danielesse87
{quote} It looks good as far as I see. You have all the graphs for the LONG. Can I ask you in these situations which support do you look at for your entry? and on which chart? EDIT: I realize now that more than two hours have already passed. Are you still in that trade?
Yes I am in the trade - it hasn't hit 40 pips yet. Watch what happens

To answer your question - look at the moment - all charts at the same time. H2 is your trading chart but support and resistance is on all charts
  • #75
  • May 23, 2023 2:54pm May 23, 2023 2:54pm
The thing I absolutely love about trading the Paradox is you do not have to be pin point accurate with the entry 99% of the time. The only time you need to be pinpoint laser accurate is if the gap is tight, but if the gap is that tight it comes with risk for the trade. If you pull the trigger long at support into the uptrend, or short at resistance into the downtrend, you will see your profit. I still have to work on my patience and its an ongoing battle, as you can see in my entry earlier. Dana said the patience comes with years and years of trading, so still a way to go.
  • #76
  • May 23, 2023 5:16pm May 23, 2023 5:16pm
Quoting L1ghtning
{quote} Yes I am in the trade - it hasn't hit 40 pips yet. Watch what happens To answer your question - look at the moment - all charts at the same time. H2 is your trading chart but support and resistance is on all charts
Yes I understand trading at the moment. But when you have such a defined trend and wait for a retracement to enter, how do you decide which support/resistance to enter? For example in your trade that retrace could have also stopped at purple/withe/smooth/EMA which were all support. Are you looking for confluence? For example "EMA 2h and Romar 1h?
  • #77
  • May 24, 2023 6:28am May 24, 2023 6:28am
+40 pips. This sometimes happens with entries late in the London session and after USD releases - it can take a while. But it is an entry at support in the H2 swing into the uptrend. Lets see what happens in the US session today as its the FOMC meeting minutes later. Unfortunately as it took its time to come into TP, I couldn't enter my planned trade on EURUSD this morning- you take the rough with the smooth with trading.
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  • #78
  • May 24, 2023 9:40am May 24, 2023 9:40am
Quoting L1ghtning
+40 pips. This sometimes happens with entries late in the London session and after USD releases - it can take a while. But it is an entry at support in the H2 swing into the uptrend. Lets see what happens in the US session today as its the FOMC meeting minutes later. Unfortunately as it took its time to come into TP, I couldn't enter my planned trade on EURUSD this morning- you take the rough with the smooth with trading. {image}
Nice trade! I've been watching on EJ. Daily says one thing, 4h says a different, 2h still different...as a result I have seen the market move from side to side with fast movements.
  • #79
  • May 24, 2023 10:07am May 24, 2023 10:07am
Quoting Danielesse87
{quote} Nice trade! I've been watching on EJ. Daily says one thing, 4h says a different, 2h still different...as a result I have seen the market move from side to side with fast movements.
What you are witnessing is Support and Resistance holding the market between them. Pull up the EURUSD now and see what I mean. The market is getting thrown around and its times like these I really do see the clarity in Dana's teachings and how he figured out how the forex market works. Please tell me you took the USDCHF entry at the Frankfurt open, I literally gave away a free trade yesterday with another entry on it this morning
  • #80
  • May 24, 2023 10:15am May 24, 2023 10:15am
This is the matrix. Trends you just got to pull the trigger into them and watch the higher highs and lower lows and I hate trading them. I know others have stated this previously to, or words to that effect. Consolidation is where its at - the matrix.
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