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

The Small Turtle System (Donchian Trend +MACD)

Quoting Yaya21
{quote} Dear Alihelmy, So nice to see you around, and I know you talked about this before, but I would like a reminder - psychologically, how do you stay in trades for long.. this part is extremely hard for me, as I see profit and get out before full potential (as you say - it is very tough to do..). Do you sometimes see price levels (ex: S/R, fib levels..) where you get out before, even without color change ? Thank you for your continuous support here
This question is one of the greatest question when you get to this level of thinking you know in yourself that is a problem here and it is hard to commitment to implement the rules so there is a problem in your way of thinking when i am in the trade so you need to change your way of thinking to be a combination between external and internal environment
When you can resolve this problem you will be successful trader
It the same question when someone tell doctor i want to lose weight but i cant be disciplined with diet and decreas meal size and make excersice
In trading 90% of traders cant cut losses quickly the ego dont need to be wrong and it is hard to accept loses
Every person have different way of thinking
For myself when i am in trade i know that i cant control the market so when i take small lose i go out quickly to be ready when the market give me big movement i must think in this point that i must wait to take big profit to remove small loses and get some money
I dont know when to go out so when Heiken ashi candle color change i go out with 3 situation
Small lose
Small win
Big win
So i should cut losses quickly to avoid big losses and try to wait when market move in my direction to get big win
Cut your losses. Cut your losses. Then maybe you have a chance
Quoting jpntrader
{quote} Heey man how are you doing, nice seeing you again
Very good
Me too thanks bro
Cut your losses. Cut your losses. Then maybe you have a chance
Quoting Alihelmy123
{quote} This question is one of the greatest question when you get to this level of thinking you know in yourself that is a problem here and it is hard to commitment to implement the rules so there is a problem in your way of thinking when i am in the trade so you need to change your way of thinking to be a combination between external and internal environment When you can resolve this problem you will be successful trader It the same question when someone tell doctor i want to lose weight but i cant be disciplined with diet and decreas meal size...
Big thank you Alihelmy for reminding me how inspirational you are!!!
Quoting Yaya21
{quote} Big thank you Alihelmy for reminding me how inspirational you are!!!
It was my pleasure
Cut your losses. Cut your losses. Then maybe you have a chance
Quoting Alihelmy123
{quote} most of my lost trades i go out before hit stop loss after candle change my maximum stop loss in any trade should not more than 1 % and that happen when strong move happen against my trade and that help me to cut losses quickly and when the market give me chance to ride big move in my setup direction i will still in it to get big profit and that difficult pyschological to many traders to make that consistent most of trading system that cut losses quickly and let profit run make money but most of traders dont make that consistent trading...
Thanks for answering my big teacher and sorry for late answer.
Just a quick doubt:
You said: {quote} most of my lost trades i go out before hit stop loss after candle change
But do you wait a new candle is born right? You do not exit until a new candle is born right? You do not exit when the colour change on the same live candle or yes?
Sorry for stupid question but doubt remain
Thanks again for great words and teaching .
My experience on this system is improving and I am becoming better trader, from loosing I am at least breakin even every month consistently, I need to work more on entry rule and respect the rule every time

Bye all

Paolo
Quoting paolo7
{quote} Thanks for answering my big teacher and sorry for late answer. Just a quick doubt: You said: {quote} most of my lost trades i go out before hit stop loss after candle change But do you wait a new candle is born right? You do not exit until a new candle is born right? You do not exit when the colour change on the same live candle or yes? Sorry for stupid question but doubt remain Thanks again for great words and teaching . My experience on this system is improving and I am becoming better trader, from loosing I am at least breakin even every...
I think you are looking for this >>>
https://www.forexfactory.com/thread/...0#post14086540
Ali, Japan Trader and all others diligently working with this fine thread.

I have read it all now, have forex experience and really like this straightforward approach.

While virtually all time frames are being being used by someone, this seems most suited to H4 and up, and I am attracted to the D1 having done some backtesting. As usual, working on the greater TFs brings a greater win rate but fewer entries. And I may add one or more additional filters to help things along.

Wondering if any of you are primarily working with the D1 or D1 with occasional H4? My checking indicates that there will average about 1.2 (or more) entries per month per pair over a long view using D1. It also appears that averaging >100 pips is quite likely on successful trades. If you watch as few as 8-10 pairs, and many do more, there is a strong potential to wrestle a significant number of pips out of the market each month.

I see things are quieter on the forum now, but a number of you are still engaged, and I hope to hear from you as you can.

Wishing Ali and all continued success and sending my thanks to all who have contributed to make this a successful thread. Bravo!

FS
quote=kenergy1;14516283]{quote} I think you are looking for this >>> https://www.forexfactory.com/thread/...0#post14086540[/quote]

Thanks for the help kenergy!
Paolo
[quote=Forest-Sea;14518059]Ali, Japan Trader and all others diligently working with this fine thread. I have read it all now, have forex experience and really like this straightforward approach. While virtually all time frames are being being used by someone, this seems most suited to H4 and up, and I am attracted to the D1 having done some backtesting. As usual, working on the greater TFs brings a greater win rate but fewer entries. And I may add one or more additional filters to help things along. Wondering if any of you are primarily working with the D1 or D1 with occasional H4? My checking indicates that there will average about 1.2 (or more) entries per month per pair over a long view using D1. It also appears that averaging >100 pips is quite likely on successful trades. If you watch as few as 8-10 pairs, and many do more, there is a strong potential to wrestle a significant number of pips out of the market each month. I see things are quieter on the forum now, but a number of you are still engaged, and I hope to hear from you as you can. Wishing Ali and all continued success and sending my thanks to all who have contributed to make this a successful thread. Bravo! FS[/quote

Hi, thanks for writing your opinions, i am considering myself not e newbye but still far from being consistent...
I am using D1 only and for your indication of 1,2 trades per minth, It depends on the your approach to the strategy: if you wait the cross of MACD Lines at zero line exactty It May be there Is a big reduction of the Number of the trades but if you start to read and understand the price action you can Easy fill 4 trades per week (not more for risk management reason)Personally i cannot avarage the pips earned, i am breaking even with this strategy, and still a lot of work ti do.
There are a lot of thing we can do to improve this strategy but rhey are not only actions for this strategy but for all out trading FX approach ( check risks, greedy approach, being superficiale...ecc.)

Bye all

Paolo
Quoting paolo7
.. I am using D1 only and for your indication of 1,2 trades per minth, It depends on the your approach to the strategy: if you wait the cross of MACD Lines at zero line exactty It May be there Is a big reduction of the Number of the trades but if you start to read and understand the price action you can Easy fill 4 trades per week (not more for risk management reason)) Bye all Paolo
Many thanks, Paolo, for your reply, thoughts and experience. You have made an excellent point on the MACD cross of the 0 line and impact on the number of trades.

With respect, FS
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