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Nova Volume Trading System

  • #561
  • Nov 25, 2024 6:33am Nov 25, 2024 6:33am
Quoting LinuxBoy97
Hello Thread, today gold is king, its all for today ENTRY M5 STRUCTURE M1 Trendline Breakout + Nova I could have gotten more, it's true, but it's my preferred ratio and it was a profitable day {image}
PA in all its beauty. I feel satisfied when see this type of trades.
  • #562
  • Edited 7:02am Nov 25, 2024 6:49am | Edited 7:02am
Morning/Afternoon all

Gold & Nas100 looking great!

Regarding losses, of course they're going to happen. But in reality you only need 1 good trade per day and each session gives you the first pullback entry towards the moving averages when they're flipping.

Focus on that set up FIRST if you're struggling.

Edit: I marked the wrong nova volume with the yellow circle. It could be where I marked but the main signal.would be after that pull back and then nova volume increased.

Will edit the image shortly

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You can lead a horse to water, but you can't make it drink
  • #563
  • Nov 25, 2024 7:04am Nov 25, 2024 7:04am
1 more trade, I pulled out at +1.5rrr so overall for today is 2.5rrr(doesn't sound amazing I know), but I missed 2 trades and I am still learning, I would say I do not even know a quarter of information of people on this thread. I was trying to find a place where I fit, and thank God I found it, it is trading. I am quite optimistic about my previous and further journeys mainly for 2 reasons. First of all, if I started doing it, I am mentally ready to succeed. Secondly, I honestly believe that by spending more time on learning theory and analysing markets(not exactly to open trades) you can optimise your learning time. I am still young so no need for money or luxurious stuff in my life. I fulfilled my main concern, I've found the thing I am truly passionate about. Thanks to all ff community and especially to people who contribute to this thread, because discovering this forum boosted my interest and made my journey more joyful(at least I am not alone anymore.)
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  • #564
  • Nov 25, 2024 7:31am Nov 25, 2024 7:31am
Quoting Ju4ara
1 more trade, I pulled out at +1.5rrr so overall for today is 2.5rrr(doesn't sound amazing I know), but I missed 2 trades and I am still learning, I would say I do not even know a quarter of information of people on this thread. I was trying to find a place where I fit, and thank God I found it, it is trading. I am quite optimistic about my previous and further journeys mainly for 2 reasons. First of all, if I started doing it, I am mentally ready to succeed. Secondly, I honestly believe that by spending more time on learning theory and analysing...
All you need to know is 1 setup that works 50% of the time and you will be set.

Try not to strategy hop as then you'll have too much information in your head and it'll slow down your progression.

Also, so enough backtesting if you have a setup you like and check every single scenario it appears and what time it appears too.

Be careful when news it going to be announced as it'll either make you overconfident if you catch one big win or you could blow your account if you risked too much. Usually better to stay out.

Focus on not risking more than 1% initially depending on your account size.
You can lead a horse to water, but you can't make it drink
  • #565
  • Nov 25, 2024 7:36am Nov 25, 2024 7:36am
Quoting xkwisit2001
{quote} All you need to know is 1 setup that works 50% of the time and you will be set. Try not to strategy hop as then you'll have too much information in your head and it'll slow down your progression. Also, so enough backtesting if you have a setup you like and check every single scenario it appears and what time it appears too. Be careful when news it going to be announced as it'll either make you overconfident if you catch one big win or you could blow your account if you risked too much. Usually better to stay out. Focus on not risking more...
Thanks, no, I mean I am not that new, but thanks for telling, I would like to ask you about your previous setup, is it regular flip and bounce off?
  • #566
  • Nov 25, 2024 7:38am Nov 25, 2024 7:38am
Quoting vintex
Hello there, sorry I'm new to tradingview, may I know why the indicator is not showing? Thanks in advance! {image}
Marvelous Job so far.... But you did not respond to proffer a solution to Vintex's encountered problem - Post#61: Am Gold/Oil focused trader with eyes on my currencies. So far I cannot get Nova Volume on my currency charts. Any advice Pease.
Thanks
  • #567
  • Nov 25, 2024 7:47am Nov 25, 2024 7:47am
I've tried this strategy for the first time today from London session through to New York session. I focused mainly on trading Gold (XAU/USD) with some luck on BTC.

All of the trades I took were on the 1m timeframe but I've found trades to be more probable on the 5m chart. Also I would wait for the direction on the indicator to reset before looking for another entry. E.g I would look to enter within the first two candle on the Nova indicator with the EMA heading in the direction of my bias. If I can't enter within the first two candles of the indicator I will then wait for the indicator to reset, turn blank (white or black if you have dark mode) before looking to enter again. I noticed that this strategy works wonders with a heavily trending pair. Before you start, identify the trend and ride it all the way down/up.

I'm going to experiment more with this tomorrow alongside drawing out liquidity points and ranges to see where I should focus on taking these trades rather then only entering off a bearish EMA and a bearish indicator visual.

I entered 17 trades, winning 9 of them at a 2:1 ratio, exiting early on some if I saw weak buying/selling pressure.

Yes I entered way more trades than I should but I was pushing this strategy to it's limit seeing what works and what to look for.

My take away from today's session that this could be a very good scalping tool alongside a couple more confluences for consistency. I will be looking to continue testing everyday this week.
  • #568
  • Nov 25, 2024 7:58am Nov 25, 2024 7:58am
Quoting Ju4ara
{quote} Thanks, no, I mean I am not that new, but thanks for telling, I would like to ask you about your previous setup, is it regular flip and bounce off?
The setup I posted was when the moving averages were about to flip for downtrend.

You usually get the large impulse move down (downtrend) and then price will pullback to usually retest the low it broke.

That is where I would enter my trade on the first nova signal with price above where there was a rejection of the last lower high... or above the 200EMA (up to you)

Then target 1:2 or trail it. I have been using heiken ashi candles recently so as soon as there's 2 opposite candles in a row or a close above the last down candle I'll look to exit.
You can lead a horse to water, but you can't make it drink
  • #569
  • Nov 25, 2024 8:00am Nov 25, 2024 8:00am
Quoting deediaZ22
{quote} Marvelous Job so far.... But you did not respond to proffer a solution to Vintex's encountered problem - Post#61: Am Gold/Oil focused trader with eyes on my currencies. So far I cannot get Nova Volume on my currency charts. Any advice Pease. Thanks
My apologies, I don't see everything.

It depends on the instrument & broker. Some data feeds you have to pay for so it might not show up on the chart.

Try selecting other instruments and see if it appears.
You can lead a horse to water, but you can't make it drink
  • #570
  • Nov 25, 2024 8:12am Nov 25, 2024 8:12am
+2R, just hit the spot
waiting for setup on us30 now, it's bounce from ema
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  • #571
  • Nov 25, 2024 8:17am Nov 25, 2024 8:17am
Quoting xkwisit2001
{quote} The setup I posted was when the moving averages were about to flip for downtrend. You usually get the large impulse move down (downtrend) and then price will pullback to usually retest the low it broke. That is where I would enter my trade on the first nova signal with price above where there was a rejection of the last lower high... or above the 200EMA (up to you) Then target 1:2 or trail it. I have been using heiken ashi candles recently so as soon as there's 2 opposite candles in a row or a close above the last down candle I'll look to...
Oh, I see, I was also entering these kind of trades before, there was a gu he explained it in details in this thread. I thought you use something else or wait for some sort of additional confirmation.
  • #572
  • Nov 25, 2024 8:21am Nov 25, 2024 8:21am
Quoting TableTop
{quote} 11 trades sounds like a lot (IMHO) and there was a lot of red news. If you take another look at Friday. There were 2 red news releases quite close together, so no trades until after the news. Neither release moved the market much so, I'm happy that the market structure hasn't changed. ~10 minutes or so after the 2nd news release you get the first nova signal for a short. Keep in mind time rotation (i.e. where am I in the 15 minute candle, and 1 hour candle) and by 0915 the day is done. The rest of the days trades inside of this high and...
Thanks, but there was no red news today according to FF European time.
Friday was full of news, I am extremely careful to keep a safe distance to the news events.I donīt trade news, neither "swappy" overnight.
Yes lots of trades, but each follows the basics, M1: EMAS pointing my way, shading of Nova, and volume spike. I reduced my TP to 1,5 and made it on 2 all the others were straight losers.There was one where I made a mistake, nobody is perfect, but pretty much every day I traded the system was a clear looser. Mind you, on EURUSD.
Btw. I am not a newbie, like I mentioned, it will be 30 years in about 18 months, about 15 in Forex. No big deal, I am taking the strategy as a test, never traded volume before, so I try to find a relation to the Big Boyīs algos with it.
In my humble, any system that works is because "somehow" it made it to follow the Algos accurately, say 50% of the time. That is the million-dollar formula.
I donīt want to be "destructive" , the creator of the system is an excellent trader, I can see that.But like the old turtle system, give it different people and some will just blow it one way or the other.
Anyway all the best to all.
  • #573
  • Nov 25, 2024 8:24am Nov 25, 2024 8:24am
Quoting Ju4ara
+2R, just hit the spot waiting for setup on us30 now, it's bounce from ema {image}
Might want to swap your 50 ema to green and 100 ema to yellow haha, it's messing with my OCD.

The reason why I set those colours is because they are like traffic lights in the UK.

Green, good to go, yellow/orange be cautious and then red (red alert) haha.

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You can lead a horse to water, but you can't make it drink
  • #574
  • Nov 25, 2024 8:33am Nov 25, 2024 8:33am
Quoting xkwisit2001
{quote} Might want to swap your 50 ema to green and 100 ema to yellow haha, it's messing with my OCD. The reason why I set those colours is because they are like traffic lights in the UK. Green, good to go, yellow/orange be cautious and then red (red alert) haha. {image}
nice idea btw, the more you cut ur energy spendings, the more your brain is going to stay fresh. I got in 3 mins ago, I hope it breaks support, wanna just hit 2r and close, don't have guts for now
  • #575
  • Nov 25, 2024 8:36am Nov 25, 2024 8:36am
Quoting cuchuflito
{quote} Thanks, but there was no red news today according to FF European time. Friday was full of news, I am extremely careful to keep a safe distance to the news events.I donīt trade news, neither "swappy" overnight. Yes lots of trades, but each follows the basics, M1: EMAS pointing my way, shading of Nova, and volume spike. I reduced my TP to 1,5 and made it on 2 all the others were straight losers.There was one where I made a mistake, nobody is perfect, but pretty much every day I traded the system was a clear looser. Mind you, on EURUSD. Btw....
Backtest this setup (here)

Focus only on that setup when the EMA's flip and there is pullback and nova gives an entry.

I think because of your time in forex, you might have a lot of different ideas on entries because that's what I was like.

And the ones that work out I didn't enter.

Nova will also work best when the 5M is crossing 0 because then the bigger push will appear.

This is the 5m about to cross the zero level.

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Go to the 1M chart and wait for the EMA's to be super think or about to flip and enter the first nova signals below 200 EMA.

The below are the entries just following nova. If you make the first entry 2R then it was still great.

I am just showing how I would look at it. I do prefer earlier entries, hate getting in after a big move.
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You can lead a horse to water, but you can't make it drink
  • #576
  • Nov 25, 2024 8:38am Nov 25, 2024 8:38am
Quoting Ju4ara
{quote} nice idea btw, the more you cut ur energy spendings, the more your brain is going to stay fresh. I got in 3 mins ago, I hope it breaks support, wanna just hit 2r and close, don't have guts for now
Haha yes, always need to save on energy.

Gold looks like it wants to reverse at the moment for a short term up trend. Will have to wait and see though.

It's just broke the short term high.
You can lead a horse to water, but you can't make it drink
  • #577
  • Nov 25, 2024 8:40am Nov 25, 2024 8:40am
P stands for profit
+2R
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  • #578
  • Nov 25, 2024 8:43am Nov 25, 2024 8:43am
Quoting Ju4ara
P stands for profit +2R {image}
Banging! good work mate.

That's the pullback flip entry too although you entered earlier!!

Are you taking these live?
You can lead a horse to water, but you can't make it drink
  • #579
  • Nov 25, 2024 8:46am Nov 25, 2024 8:46am
I'm monitoring Gold & Nas and not found anything yet that I want to enter.

May take a long on gold but it is still downtrend.
You can lead a horse to water, but you can't make it drink
  • #580
  • Nov 25, 2024 8:52am Nov 25, 2024 8:52am
Quoting xkwisit2001
I'm monitoring Gold & Nas and not found anything yet that I want to enter. May take a long on gold but it is still downtrend.
I stop for today, now I go to read books know, cos if I don't learn something new, the day can cue considered as lost, also it helps me to relieve the pressure, so I don't want to overtrade.
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