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The paradox System 2023 (for beginners)

  • #361
  • Jun 5, 2023 3:09am Jun 5, 2023 3:09am
Quoting SeriTrade
{quote} At the time 2H EMA hit, there is less than 40 pips to 4H 61.8, Daily 23.6 I calculated for 40 pips, it has to hit near 2H Romar. In this case I miss entry as it didn't come close to 2H Romar. What am i missing?
You may actually be very right. To tell the truth, initially when drafting my plan I had thought the same thing, ie that the safest long entry would have been at the Romar 2h.
The truth is, I let my emotions decide. Fear of missing the trade made me pull the trigger.
  • #362
  • Jun 5, 2023 3:11am Jun 5, 2023 3:11am
Quoting SeriTrade
{quote} Here is my 2H {image}
Same as mine
  • #363
  • Jun 5, 2023 3:11am Jun 5, 2023 3:11am
Quoting SeriTrade
{quote} At the time 2H EMA hit, there is less than 40 pips to 4H 61.8, Daily 23.6 I calculated for 40 pips, it has to hit near 2H Romar. In this case I miss entry as it didn't come close to 2H Romar. What am i missing?
Likely the big picture. The market wasn’t going to 2hr ROMAR for reasons I mentioned. With the position of the 4H on the charts it was going to go for the green FIBO.

You can always find SOME reason to not enter a trade. Just like you can always find SOME reason to enter a trade. That’s fear and doubt. I really never understood what “the bigger picture” means but it’s literally what the name says.

Keep in mind, I’ve only been really trading this system for a few weeks and still make plenty of mistakes. However, that’s how I would answer your question.
  • #364
  • Jun 5, 2023 3:24am Jun 5, 2023 3:24am
Quoting MustardJam
{quote} Likely the big picture. The market wasn’t going to 2hr ROMAR for reasons I mentioned. With the position of the 4H on the charts it was going to go for the green FIBO. You can always find SOME reason to not enter a trade. Just like you can always find SOME reason to enter a trade. That’s fear and doubt. I really never understood what “the bigger picture” means but it’s literally what the name says. Keep in mind, I’ve only been really trading this system for a few weeks and still make plenty of mistakes. However, that’s how I would answer...
But it is also true that we look for the best opportunities to enter. Those with the least risk. And indeed the risk that this upward trend will be blocked is there. We should not chase the market but let it come to us. If the opportunity doesn't present, then let's move on.
  • #365
  • Jun 5, 2023 3:27am Jun 5, 2023 3:27am
Quoting Danielesse87
{quote} You may actually be very right. To tell the truth, initially when drafting my plan I had thought the same thing, ie that the safest long entry would have been at the Romar 2h. The truth is, I let my emotions decide. Fear of missing the trade made me pull the trigger.
The problem is the market was unlikely to get to ROMAR. I think you had the right idea. You just might’ve entered the trade too late (still to be seen).
  • #366
  • Jun 5, 2023 3:29am Jun 5, 2023 3:29am
Quoting Danielesse87
{quote} You may actually be very right. To tell the truth, initially when drafting my plan I had thought the same thing, ie that the safest long entry would have been at the Romar 2h. The truth is, I let my emotions decide. Fear of missing the trade made me pull the trigger.
"Fear of missing the trade", I was doing that many times and i am going no way. I recall Dana was saying if you miss a trade there are plenty more to trade. I keep that as one of the Paradox rule. ha ha ha.
  • #367
  • Jun 5, 2023 3:30am Jun 5, 2023 3:30am
Quoting Danielesse87
{quote} But it is also true that we look for the best opportunities to enter. Those with the least risk. And indeed the risk that this upward trend will be blocked is there. We should not chase the market but let it come to us. If the opportunity doesn't present, then let's move on.
Well you are correct and the market came to the 2hr EMA. As I mentioned earlier, I agree that the risk might’ve been too high at your entry with the 2hr FIBO location and the daily 4H.
  • #368
  • Jun 5, 2023 3:34am Jun 5, 2023 3:34am
Quoting SeriTrade
{quote} "Fear of missing the trade", I was doing that many times and i am going no way. I recall Dana was saying if you miss a trade there are plenty more to trade. I keep that as one of the Paradox rule. ha ha ha.
I was on demo and still on demo.
  • #369
  • Jun 5, 2023 3:37am Jun 5, 2023 3:37am
Quoting MustardJam
{quote} Well you are correct and the market came to the 2hr EMA. As I mentioned earlier, I agree that the risk might’ve been too high at your entry with the 2hr FIBO location and the daily 4H.
My entry point is definitely wrong.
But honestly now I doubt that even the EMA hit was a good entry, for the reasons we mentioned above.
I'm sure that later the more experienced guys will help us clarify. Thank you so much for your comments SeriTrade and MustardJam
  • #370
  • Jun 5, 2023 3:42am Jun 5, 2023 3:42am
Quoting Danielesse87
{quote} But it is also true that we look for the best opportunities to enter. Those with the least risk. And indeed the risk that this upward trend will be blocked is there. We should not chase the market but let it come to us. If the opportunity doesn't present, then let's move on.
Quoting MustardJam
{quote} The problem is the market was unlikely to get to ROMAR. I think you had the right idea. You just might’ve entered the trade too late (still to be seen).
Post 7808, original thread
Dana said ".........focus on the risk and not the winner." Another Paradox rule for me to remember.
  • #371
  • Jun 5, 2023 3:42am Jun 5, 2023 3:42am
Quoting Danielesse87
{quote} My entry point is definitely wrong. But honestly now I doubt that even the EMA hit was a good entry, for the reasons we mentioned above. I'm sure that later the more experienced guys will help us clarify. Thank you so much for your comments SeriTrade and MustardJam
Yeah maybe it’s just speculation.

Oh, and the SAR on the 2hr is another sign. It was going to reconnect with DB up top
  • #372
  • Edited 4:20am Jun 5, 2023 4:03am | Edited 4:20am
Quoting SeriTrade
{quote} I still don't understand. 1. Is "Romar down town central" same as "Romar centre"? 2. "Romar centre" : does it mean Romar is in the middle of Bollinger Bands?, regardless whether BB is flat or in an incline (either up or down).
I want to try to clarify it with you.
Based on what was said by lightning and the images attached to his post, I understand this:
Romar center is when purple is turning from the top (or bottom) of our chart and Romar is not far from purple.
Attached Image (click to enlarge)
Click to Enlarge Name: 2.png Size: 89 KB

If Romar center and the big picture is consistent then Romar won't hold resistance/support. It means that your entry can also have a gap of less than 40 pips.


Romar not center is when instead the "meeting" between Romar and purple will take place in the center of our chart.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.JPG Size: 333 KB


If Romar not center then you need a 40 pips gap for a risk free entry.

This is what I understood. I know it seems counterintuitive because the word "centre" makes us think that Romar is at the center. But from what I understand it is the other way around.

What I just said is just my current understanding. It's not confirmed. So let's wait for a confirmation from the most experts
  • #373
  • Jun 5, 2023 6:30am Jun 5, 2023 6:30am
Quoting Baje
I am not going to be at home for today's market opening, so here is my Plan for the EJ. The H2 will be in a fully blown UP-TREND when the market opens. With the H1 retracing off of a swing High and looking for Support, I will be looking to go LONG off of an H1 Support hit of either EMA or the PARABOLIC. The Daily is UP in consolidation due to EMA still being Support having not yet crossed PURPLE. Comments will be appreciated.
I was expecting Lusky or L1ghting to comment on my worded plan for yesterdays EJ opening but got none.
  • #374
  • Jun 5, 2023 8:08am Jun 5, 2023 8:08am
Quoting Baje
I am not going to be at home for today's market opening, so here is my Plan for the EJ. The H2 will be in a fully blown UP-TREND when the market opens. With the H1 retracing off of a swing High and looking for Support, I will be looking to go LONG off of an H1 Support hit of either EMA or the PARABOLIC. The Daily is UP in consolidation due to EMA still being Support having not yet crossed PURPLE. Comments will be appreciated.
Write out a plan like Dana says to use, even if you start now with the simpler one he shared on page one of his thread. Your write up here is telling us you're still heavily focused on the H1 and you mentioned nothing about the H4 which is fine if you're not using it, but I do think everyone here decided to use the H4 even though it's deeper in the thread? Maybe try not looking at the H1 at all until you train yourself to trade the H2. I was definitely guilty of looking at the H1 too much early on in my efforts. Looking back on it I think the reason is we see the H1 hit what appears to be "entries with an edge" from Dana's list quite often but his list was not meant to be used on the H1.
  • #375
  • Jun 5, 2023 8:14am Jun 5, 2023 8:14am
I hope those who pulled the trigger long right into resistance without the gap understand what they did wrong.

61.8 is one of the most powerful support/ resistance levels in the Paradox.

Who took the time to read this and check for themselves?
https://www.forexfactory.com/thread/...3#post14448453
  • #376
  • Jun 5, 2023 8:19am Jun 5, 2023 8:19am
Quoting L1ghtning
I hope those who pulled the trigger long right into resistance without the gap understand what they did wrong. 61.8 is one of the most powerful support/ resistance levels in the Paradox. Who took the time to read this and check for themselves? https://www.forexfactory.com/thread/...3#post14448453
Yes lightning, we've already discussed with the guys why it wasn't a good idea to go Long. This is a great lesson.
  • #377
  • Jun 5, 2023 8:23am Jun 5, 2023 8:23am
Quoting Baje
{quote} I was expecting Lusky or L1ghting to comment on my worded plan for yesterdays EJ opening but got none.
I also have to remind you that Lusky and Lightning are free from any kind of obligations on this thread. So no certainty that they will reply or comment on our posts and this must be respected
  • #378
  • Jun 5, 2023 9:11am Jun 5, 2023 9:11am
Long at 149.715, SL hit
Evaluation:
1. Trade through red news.
2. 2H fibo down
3. At entry Long, purple cross white and smooth down, with EMA and MACD arrow down.
I have no idea what i am missing.
Well, try again tomorrow. Good night.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 40 KB
  • #379
  • Jun 5, 2023 9:20am Jun 5, 2023 9:20am
Quoting SeriTrade
Long at 149.715, SL hit Evaluation: 1. Trade through red news. 2. 2H fibo down 3. At entry Long, purple cross white and smooth down, with EMA and MACD arrow down. I have no idea what i am missing. Well, try again tomorrow. Good night. {image}
Close trades before high impact news is a rule. Now, going forward, take a look for the confluence after the news release.
  • #380
  • Jun 5, 2023 9:25am Jun 5, 2023 9:25am
Quoting SeriTrade
Long at 149.715, SL hit Evaluation: 1. Trade through red news. 2. 2H fibo down 3. At entry Long, purple cross white and smooth down, with EMA and MACD arrow down. I have no idea what i am missing. Well, try again tomorrow. Good night. {image}
The H2 was at a swing high with the DBSAR at top. With the Fibo Down and ROMAR UP the chart is in consolidation. In consolidation you are trading from R to S. Where is the Resistance? At the top of the Fibo. Where is the Support? The 61.8.
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