Power of Two System

Quoting nitethinker

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{quote} The bias in TPOT is always based on the interaction of the 4-hour range high/low. So as shown in my screenshot it was NFT to the downside, which means long bias. Sticking to the primary setup, we would take the long trade if the setup present itself. When you mentioned momentum was down, were you talking about the general 4-hour trend? You were right that it was in a down trend but (since beginning of Aug) now I can only see it was ranging without direction. In addition, this might be out of scope of TPOT, but if you switch to Daily chart,...

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Quoting klavi6a

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{quote} On 1). In one of Scott's latest videos, he mentions momentum and that threw me off the TPOT course. Since then, I can't decide between directional bias based on last 4H range interaction and momentum. Apropos, I am sure you saw that video where Scott says he considers momentum change after two consecutive LH or LL. I don't look at Daily.... I am so stuck @ 4H & 15m. I need to loosen up a bit and start experimenting. I wasn't exaggerating when I said I am a noob.

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Quoting nitethinker

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{quote} Yes, I saw that video. It was a good video knowing that they took note of the actual trend and use discretion to trade the 4-hour TPOT bias. But again that does not mean there will be no loss. During London today, before the GU trade, Scott took a counter NFT trade on EURUSD, going short and was stopped out. I assumed it was due to EU being in a downward momentum and therefore, since the sell entry model presented itself, he took the short, despite NFT being long bias.

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Quoting klavi6a

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{quote} Where r you following his trades? Telegram or somewhere else? Also, someone, many pages earlier, mentioned a newsletter from Evo Market. Are you aware of suth thing? And last, Scott mentioned in one video about free weekly webinars, but I could not find a link.

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Quoting nitethinker

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{quote} Telegram. You can go to their website and get their free course materials. After that there will be emails every now and then and also some links to join their social platform, etc. And of course the Youtube videos have some links in the summary/bio section too.

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Quoting klavi6a

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@nitethinker , I need your advice again. How to read this formation? It was UNC after the big bear, then after the 2 bulls it was a definite NFT, but then do I change it to FT? of stick with NFT until if interact with the new 4H fractal low? If it interacts with it at all. And if it does not - to possibly miss a bullish setup. How about the one with "???" {image} {image}

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Quoting nitethinker

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{quote} The same page 20 and specifically post 395 should be able to clear your doubt. In the first chart, it would become FT if the last candle closed as it is. In the 2nd chart, it was SFT, and you would trade it as SFT until 4H range high/low was interacted.

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Quoting klavi6a

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What TF use you go through? I assume you are not limiting yourself to just 4H & 15m (like you mentioned earlier you looked at daily for momentum on EU). Do you go as high as Wk? Or just Daily? Do you also go to 1H or 30m?

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Quoting PitsonsLstbn

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So I just came across this strategy and I'm trying to forward test it . I need some clarity on this. Sorry I can only provide a mobile screenshot, but here do we wait for price to reach the outer fractals (labeled as 1) or we just start using the new fractals (labeled as 2) {image}

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Quoting klavi6a

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These were not actual trades but just a mark ups. And still, it's bitter-sweet. I marked up both, EU & GU. both would have been a loosing trades- thats the bitter part. After the news they both end up hitting my TP - that's the sweet part. Now my question: -How do you guys deal with news? - Close any positions 30 mins before news? - Don't open positions 30 mins before & 30 after the news? - Don't trade at all that day? (that would cost a lot of days) How do you trade around news? {image} {image}

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Quoting nitethinker

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{quote} I remembered these 2 trades. I was busy during that time but I did took both EU and GU, so I did not get to post them. At one point, I estimated it was around 30min before the news, EU was +1R and GU was +2R. I could close both for total 3R profit, but out of greed I moved both to +1 pip breakeven on. When news came out, I ended up getting BE only. So it might be a good lesson to try to remember to close trades for profit when there were red news coming up. I totally forgot about it. I would think 30min before and after news no trading would...

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