A follow up on my trades..
GBPUSD was taken out by trailing SL in profit.
Almost 70 % of upmove captured.
The uptrend continues but i wii not reenter long. Because rsioma is almost touching 100. Wait for a big pullback.
- #441
- Jul 7, 2024 9:39pm Jul 7, 2024 9:39pm
- Joined Feb 2019 | Status: Trader | 1,019 Posts
GBPUSD was taken out by trailing SL in profit.
Almost 70 % of upmove captured.
The uptrend continues but i wii not reenter long. Because rsioma is almost touching 100. Wait for a big pullback.
{quote} If you are comfortable you may send me private message regarding "added some stuffs and remove some and that is what brought about calling your system holy grail." Let me analyse , if it is making a significant change, i will dly and proudly post it here with your name. I am more interested what additions you have made.
- #444
- Jul 8, 2024 11:27am Jul 8, 2024 11:27am
- Joined Feb 2019 | Status: Trader | 1,019 Posts
Dear Doc. and tolani, Hashzar made a suggestion somewhere on the thread that Tolani email the other indicators that improved his system(as he claimed) to Hashzar to put here on the thread for wider evaluation...he also provided his email. So could it be done this way Doc?(with permission of course)
https://www.forexfactory.com/thread/...1#post14923391
https://www.forexfactory.com/thread/...8#post14923488
https://www.forexfactory.com/thread/...3#post14923613
- #447
- Edited 9:47pm Jul 8, 2024 4:46pm | Edited 9:47pm
- | Joined Aug 2019 | Status: Trader | 200 Posts
{quote} I checked 2 conditions. are they correct? and are there any other conditions I should add? {image}
It might help if you know where are the resistance and support levels in the M15, H1 and H4 chart. Then you know where it can become dangerous, or you can decide whether it would be better to close the trade.
Here you can see that the entry point was very good. M15 and H1 are zoomed in a lot, for a better overview. The vertical yellow lines show the entry in the 3 time frames. I sometimes use this chart as a scanner. The yellow circles at the bottom provide even more security for a successful trade. Top set up.
Kind regards
Don't trade because you think you have to do something.
Pullback in USDCD H4{image} H1 suggestive of false breakout.{image} Go short on H1 TE 51 sell alert after candle close. Or H4 TE 3 Sell alert on candle close. Trade in Demo account.
- #449
- Jul 8, 2024 9:44pm Jul 8, 2024 9:44pm
- Joined Feb 2019 | Status: Trader | 1,019 Posts
{quote} I checked 2 conditions. are they correct? and are there any other conditions I should add?
https://www.forexfactory.com/thread/...4#post14923864
This is the same mistake I did twice in my last USDCAD trade. My sell entries were triggered on open candle and then the price reversed.
Obviously my SL were hit.
- #450
- Jul 8, 2024 9:58pm Jul 8, 2024 9:58pm
- Joined Feb 2019 | Status: Trader | 1,019 Posts
{quote} Hi ozkanim It might help if you know where are the resistance and support levels in the M15, H1 and H4 chart. Then you know where it can become dangerous, or you can decide whether it would be better to close the trade. Kind regards
https://www.forexfactory.com/thread/...5#post14921425
Notice my entry candle of GBPUSD. A single candle broke all the resistances upto TE 51 in a downtrend. Obvious trend reversal.
While trading H4, For entry I will consider support resistance on H4 and above. Those on M15 and H1 are significant for target levels I suppose.
- #451
- Jul 8, 2024 10:16pm Jul 8, 2024 10:16pm
- Joined Feb 2019 | Status: Trader | 1,019 Posts
{quote} hello @walvekarraje so in this case how would you have manged this trade had you gone in on the second green candle in H4 as false breakout is forming later ?
My initial SL is always the swing high/low in trend reversal entries and first target R:R 1:1 ( I trade 2 lots). As the trade progresses i trail Sl to TE values in the data window. In this case I would trail SL on TE 9 which i usually follow (second value in data window). TE 3 is too close at the beginning of the trade but when in significant profit I trail it to TE 3 (first value in data window.
As the trase progresses and as long as the APB candle color is in your favour, it is a good practice to keep SL deep so you dont get taken out by the volatility.
Hope ths helps.
{quote} I consider the Guppies while entering a trade. They represent dynamic area of support and resistance. https://www.forexfactory.com/thread/...5#post14921425 Notice my entry candle of GBPUSD. A single candle broke all the resistances upto TE 51 in a downtrend. Obvious trend reversal. While trading H4, For entry I will consider support resistance on H4 and above. Those on M15 and H1 are significant for target levels I suppose.
I think that's good.
Kind regards
Don't trade because you think you have to do something.
- #453
- Jul 8, 2024 10:24pm Jul 8, 2024 10:24pm
- Joined Feb 2019 | Status: Trader | 1,019 Posts
{quote} Hello Dr, i tried to reach you privately, but being resisted because of my status ,.Anyways will continue trying
- #454
- Jul 8, 2024 10:37pm Jul 8, 2024 10:37pm
- Joined Feb 2019 | Status: Trader | 1,019 Posts
{quote} I have to get used to see the guppies as support and resistance. I can always learn something new in this way. I think that's good.
https://www.forexfactory.com/thread/...5#post14921425
Look at the EURUSD chart.
After Uptrend is established ( all guppies green) The first pullback early in the trend is inside the guppies which act as dynamic support and continuation pattern confirmed by TE 3 buy alert. If you miss it then the Gann alert on the next candle. Also notice the flag made by the red guppies which is broken (dynamic resistance).
Such entries are very common and extremly profitable.
- #455
- Jul 8, 2024 10:48pm Jul 8, 2024 10:48pm
- Joined Feb 2019 | Status: Trader | 1,019 Posts
Dear Doc. and tolani, Hashzar made a suggestion somewhere on the thread that Tolani email the other indicators that improved his system(as he claimed) to Hashzar to put here on the thread for wider evaluation...he also provided his email. So could it be done this way Doc?(with permission of course)
I have put in lot of efforts to optimise the settings.
Read my posts above with lot of explaination of how to use and utilise them for entries.
Michael.MSA has integrated this into his own trading system very successfully.
There is always a learning curve. Take your time. Get used to the cahrts and alerts in live market. You will definately benifit.
{quote} A classic example is in the same post. https://www.forexfactory.com/thread/...5#post14921425 Look at the EURUSD chart. After Uptrend is established ( all guppies green) The first pullback early in the trend is inside the guppies which act as dynamic support and continuation pattern confirmed by TE 3 buy alert. If you miss it then the Gann alert on the next candle. Also notice the flag made by the red guppies which is broken (dynamic resistance). Such entries are very common and extremly profitable.
Thank you so much for the insightful explanation.
Kind regards
Don't trade because you think you have to do something.
- #457
- Edited 9:49am Jul 9, 2024 7:23am | Edited 9:49am
On second thoughts........ {quote} https://www.forexfactory.com/thread/...4#post14902764 This is a combination of 4 trend trading systems optimised to work as one. There are setups within setups in the whole system. Adding and removing stuff might help your own trading strategy but might not be useful for others. Let me give you an example. Only using guppy trend envelops, there is a very profitable setup which i do like to trade. It is trading the first pullback. {image} This occurs very frequently in all timeframes and is a...
- #458
- Jul 9, 2024 11:20am Jul 9, 2024 11:20am
- Joined Feb 2019 | Status: Trader | 1,019 Posts
{quote} Thank you Dr for the wonderful system. Please I have a question,in the above chart does it mean Gan 9 not important and it was completely removed? Because I can't see the gann 9 indicator
The trades you have posted are too good.
https://www.forexfactory.com/thread/...2#post14923682
We are all very interested to know about any additions you have made to the system.
Your 16 years of trading experience are invaluable and will make a great difference to all of us.
One request. Dont delete anything on the chart.
- #460
- Edited 6:32am Jul 10, 2024 5:48am | Edited 6:32am
{quote} Sir, this was just a example of how anyone can remove indicators but can still be profitable. The trades you have posted are too good. https://www.forexfactory.com/thread/...2#post14923682 We are all very interested to know about any additions you have made to the system. Your 16 years of trading experience are invaluable and will make a great difference to all of us. One request. Dont delete anything on the chart.