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  • #721
  • Mar 2, 2025 2:29am Mar 2, 2025 2:29am
Quoting Islandfx911
Thanks for posting the details. The old saying still stands strong. The trend is your friend I will be heading back over to my other thread on Monday and start posting there. I have had an overload of information this week and fried my brain. I have been trading the DTosc with mixed results, probably the same as Birdland. What I have got from trading it is that the close inside band rule with the trend is an excellent entry trigger. I will be looking at entering trades when DTosc is overbought / oversold off support and resistance with...
i take the indicator and the signals less and less important.

for me it is more important whether the price closes within 5MA, so price action.

and then i also check whether the indicator is overbought/oversold.
trading is like dancing, don't think and just listen to the music!
  • #722
  • Mar 2, 2025 4:08am Mar 2, 2025 4:08am
Quoting birdland
{quote} i take the indicator and the signals less and less important. for me it is more important whether the price closes within 5MA, so price action. and then i also check whether the indicator is overbought/oversold.
Hi Birdland,
The 5 SMA close inside the band is part of a trading system I was taught many years ago by a highly successful trader.
It will give you the best low risk, value for money entry.
Everyone looking at this thread should see that now.
I am posting some rules and notes that I trade by.

My rules to trade by.
1. The close inside the bands, either bullish or bearish will give you the best entry to a trade and is the only way you should enter a trade.
2. Always trade away from a support or resistance structure
3. Only place trade at or during the market opens.
4. Only trade one timeframe until you have mastered it, then you can introduce more.
5. Take profit at line chart support or resistance and or Pivot within the average daily range
6. TP always at 7.5R or as close to possible depending on above rule.
7. Do not move SL until 3R profit can safely be locked in.
8. Never move TP past 7.5R unless the only support and resistance, Pivot is further away from TP and is still within the average daily range.
Notes:
Never enter a bullish trade on a bullish candle (You will be paying retail price)
Never enter a bearish trade on a bearish candle. (If you do this you will never make it)
Your average risk return has to be higher than 3.0R (I will explain this later)
Trading with emotions will affect your decision making. You must trade like a robot.

Remember,
No One Knows What Direction The Market Will Go At Any Given Point In Time.

I will give you an example of how a belief about market direction can affect your trading.
Post 688.
What did EM say in the post? Did you have a bullish or bearish belief when you read it?

You, I and everyone else must trade and follow their system without interference from others.
When we place a trade it must be placed without emotion and as per our trading plans.
Remove the distraction stay focused and accept the outcome.

These are my rules / beliefs and must not be considered as the only way to trade.
I wish everyone a profitable week ahead.

Regards
Rob
Your trade order needs to be in the right place at the right time.
  • #723
  • Mar 2, 2025 4:33am Mar 2, 2025 4:33am
Attached Image (click to enlarge)
Click to Enlarge Name: Bands Entry.png Size: 13 KB
Your trade order needs to be in the right place at the right time.
  • #724
  • Mar 2, 2025 6:56am Mar 2, 2025 6:56am
Quoting Islandfx911
{quote} Hi Birdland, The 5 SMA close inside the band is part of a trading system I was taught many years ago by a highly successful trader. It will give you the best low risk, value for money entry. Everyone looking at this thread should see that now. I am posting some rules and notes that I trade by. My rules to trade by. 1. The close inside the bands, either bullish or bearish will give you the best entry to a trade and is the only way you should enter a trade. 2. Always trade away from a support or resistance structure 3. Only place trade at...
"Trading with emotions will affect your decision making. You must trade like a robot."
I like trading sp500 albeit some here feel the Nasdaq gives more bang for the buck.
However, what you have written ( Highlighted in black) is a crucial element to success and one that many demo traders will not realise until they put cash on the line
( skin in the game.) The change in mind set from demo to real can be a shock: Your finger starts a life of its' own whilst grabbing little profits or frozen in the air as your losses go past your calculated stop loss in the hope that price will come back ( some times it does but the one time it doesn't is where fear matches your empty pocket.)
Fantastic thread you have here as is your other thread.
every Saint has a past. Every Sinner has a Future
  • #725
  • Mar 2, 2025 7:04am Mar 2, 2025 7:04am
if traders are interested more into MA-channels, i really can recommend (like turnip15 already has done) to read the threads from LauraT and her 8EMA system.

she is also a brilliant teacher and trader.
trading is like dancing, don't think and just listen to the music!
  • #726
  • Mar 2, 2025 7:15am Mar 2, 2025 7:15am
Quoting Islandfx911
{image}

that would take a thousand hours of chartist experience to build confidence to take that trade entry candle.

there is the 'signal' candle and then the '2b' pattern

since you use the 5SMA High-Low channel, a simple name for that setup would help many to see that as a '2b pattern'.

Attached Image (click to enlarge)
Click to Enlarge Name: Islandfx911 example 2b.png Size: 37 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #727
  • Edited 11:37am Mar 2, 2025 11:10am | Edited 11:37am
Quoting turnip15
{quote} "Trading with emotions will affect your decision making. You must trade like a robot." I like trading sp500 albeit some here feel the Nasdaq gives more bang for the buck. However, what you have written ( Highlighted in black) is a crucial element to success and one that many demo traders will not realise until they put cash on the line ( skin in the game.) The change in mind set from demo to real can be a shock: Your finger starts a life of its' own whilst grabbing little profits or frozen in the air as your losses go past your calculated...
To the contrary I'd say the only thing that works is discretion unaffected by personal psychology. This is because emotions are essential for decision making. And I am saying that against a background from [old skool physical space] prop firms, where invariably everyone who, with the arrival of decent online trading platforms, tried to work for themselves from home failed due to their personal psychology. They needed a manager looking over the shoulder to keep discipline.

This means that personal psychology was the problem, not their approach to trading. Still, of course, some (but not most) may be able to force themselves to comply with the robotic mantra, Yet for these, formerly very successful traders, that didn't work. And chances are it won't work for you either.

Yet, statements such as the one you highlighted are taught as common wisdom, while being far from the full truth. To me it reads like a slogan from Alcoholics Anonymous - the kind of things you have to force to believe yourself in order to overcome your addiction.

And the addiction is to unconsciously rooted impulsive actions. Which can be worked on, and which those few who are fortunate to find a good mentor will be able to do. For those who lose consistently, that's much better than throwing money away at fighting ghosts one can't see or understand, trying to convert themselves into the robots they will never be.

Here's how a stunningly successful hedge fund trader explains his success:

Quote
There was no system to it. It was nothing more than, “I think the market is going up, so I’m going to buy.” “It’s gone up enough, so I’m going to sell.” It was completely impulsive. I didn’t sit down and formulate any trading plan. I don’t know where the intuition comes from, and there are times when it goes away.

Then there's the story of the legendary Larry Williams who couldn't find success trading based on technical analysis, and became successful only when he integrated contextual market understanding into his approach.

And such contextual understanding is what I call discretion.
  • #728
  • Mar 2, 2025 4:29pm Mar 2, 2025 4:29pm
Quoting medici
{quote} Then there's the story of the legendary Larry Williams who couldn't find success trading based on technical analysis, and became successful only when he integrated contextual market understanding into his approach. And such contextual understanding is what I call discretion.
Larry Williams is a renowned trader known for his analytical prowess and use of historical data to achieve success in the financial markets. He has developed several influential trading indicators and strategies, such as the Williams %R indicator, which measures overbought and oversold levels to identify potential reversals in asset prices.

Williams' approaches often combines both technical and fundamental analysis, allowing him to make informed decisions based on market trends and patterns. His meticulous study of market dynamics and historical data has enabled him to create effective trading strategies that have stood the test of time.

Throughout his career, Williams has authored numerous books and conducted workshops to share his knowledge and insights with other traders. His contributions to the trading community have made him a respected figure and a source of inspiration for many aspiring traders.

Thanks A.I. my turn. That's true up to a point but, I met the man many years ago, and from his presentation I recall his enthusiasm and passion showing us the reams of price data research on how he developed strategies such as Smash Day. For me, it would be that he traded on what the charts were showing him, but as you say, he was aware of the market bigger picture. Don't forget his generation traded indexes and softs, such as corn and soybeans; he would demonstrate the effect of seasonals on those, which do not always translate to Forex, especially just for day traders. My 2 cents, have a great week.

It takes a lot for me to IGNORE you, but you can try.
  • #729
  • Mar 2, 2025 5:01pm Mar 2, 2025 5:01pm
Quoting teprewitt23
{quote} with all due respect larry williams is a snake oil salesman, that was the very first scam that i purchased back in 1995 "the money tree" complete with drunken trade calls. he just got lucky.
I hear you. Larry Williams is a polarizing figure in the trading world. While some traders swear by his methods and have found success using his strategies, others have had experiences like yours and feel differently. It's important to remember that trading is highly individual, and what works for one person might not work for another. Your skepticism is valid, and it's always wise to critically evaluate any trading system or advice before committing to it.

And we all want to get lucky.
It takes a lot for me to IGNORE you, but you can try.
  • #730
  • Edited 6:53pm Mar 2, 2025 6:15pm | Edited 6:53pm
I have been trading yen pairs at this hour profitably everyday the past week. Taken partial and stop is at be,,stress free
EDit: trade closed
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYM15.png Size: 34 KB
the cautious seldom err....C
  • #731
  • Edited 6:59pm Mar 2, 2025 6:19pm | Edited 6:59pm
got this pair as well
EDit:trade closed
Attached Image (click to enlarge)
Click to Enlarge Name: AUDJPYM5.png Size: 29 KB
the cautious seldom err....C
  • #732
  • Mar 2, 2025 6:49pm Mar 2, 2025 6:49pm
I think the risk is low for this pair atm and so I took a short, stop is just above the high, dropping to close the gap is likely imo
Attached Image (click to enlarge)
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the cautious seldom err....C
  • #733
  • Mar 2, 2025 7:12pm Mar 2, 2025 7:12pm
If I get stopped out then I go to zzzzz earlier, otherwise I 'll stay a bit longer
EDit: stopped out, bbl
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM5.png Size: 28 KB
the cautious seldom err....C
  • #734
  • Mar 2, 2025 8:07pm Mar 2, 2025 8:07pm
Quoting emmanuel7788
{quote} AU Feb28 New York Close UPDATE: - a nice bearish close is what I needed for a +2R trade - sellers are cautious at month-end and when oscillators show over-sold - sometimes the market just take it own time to move when the time-is-right {image} ... {image}

AU Feb 28 Close

Daily and Weekly New York Close 5pm

Attached Image (click to enlarge)
Click to Enlarge Name: AU Feb28 NYClosed Weekly and Daily 1-3-2025 9-57-08 am.png Size: 37 KB

AU Mar03 Tokyo 11am

- today completed the first 4-hours

- now the next 4Hr ... follow TLOC use the DTOsc as your helping indicator


Attached Image (click to enlarge)
Click to Enlarge Name: AU Mar03 4Hr closed 3-3-2025 10-01-39 am.png Size: 42 KB




...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #735
  • Mar 2, 2025 8:33pm Mar 2, 2025 8:33pm
Quoting emmanuel7788
{quote} #Learn to Read the Candles# BTC Feb21 > price remain at the Day Open {image} ... {image}

BTC Mar 03

- after Sunday' big candle, there is FEAR and GREED

- plenty of trade opportunities this week into the new month

Attached Image (click to enlarge)
Click to Enlarge Name: BTC Mar03 after Sunday candle FEAR and GREED 3-3-2025 10-29-37 am.png Size: 40 KB



...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #736
  • Mar 2, 2025 9:06pm Mar 2, 2025 9:06pm
Quoting emmanuel7788
{quote} that would take a thousand hours of chartist experience to build confidence to take that trade entry candle. there is the 'signal' candle and then the '2b' pattern since you use the 5SMA High-Low channel, a simple name for that setup would help many to see that as a '2b pattern'. {image}

Attached Image (click to enlarge)
Click to Enlarge Name: Islandfx911 example 2b.png Size: 37 KB


>>> 2B and not-2B <<<

this below is not a 2B

Attached Image (click to enlarge)
Click to Enlarge Name: not 2B 3-3-2025 10-57-29 am.png Size: 5 KB

...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #737
  • Mar 2, 2025 10:13pm Mar 2, 2025 10:13pm
DTosc combines RSI and the Stochastic, so using Parabolic SAR alongside it can help confirm signals.
  • #738
  • Mar 2, 2025 10:13pm Mar 2, 2025 10:13pm
Quoting emmanuel7788
{quote} >>> 2B and not-2B <<< this below is not a 2B {image} ... {image}
You are right about the entry on the chart I posted, that is my error.
I am not sure what happened there with arrow placement.
I can assure you though I enter bullish trades on bearish rejection candles.
My SL size starts at 2 pips for AU and goes as high as 15 for GJ.
I don't think it takes balls to enter when price is coming straight at you it takes experience and hours of watching the market.
I am pretty much housebound now and get to sit at my trading screens for 10hrs a day if I want so I have had plenty of time to work out the benefits of entering trades like this. Do they fail yes, but I am not bothered because i can have multiple loses and a couple of wins each week and I will be in front far greater than the trader that is stuck in the 2R profit mindset. (Not directed at anyone) I just have different beliefs about trading.

I will like to add that I run 3 different systems that have 3 different types of entry.
The rejection candle entry is my primary entry method.
Your trade order needs to be in the right place at the right time.
  • #739
  • Mar 3, 2025 2:00am Mar 3, 2025 2:00am
Quoting Th3W1z4rd
DTosc combines RSI and the Stochastic, so using Parabolic SAR alongside it can help confirm signals.

here is what you can consider trading DTOsc with Parabolic SAR

#332
https://www.forexstrategiesresources.com/trading-system-metatrader-4-iii/332-dtosc-forex-system/


Attached Image (click to enlarge)
Click to Enlarge Name: #332 DTOsc with PSAR 3-3-2025 3-59-10 pm.png Size: 71 KB


...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #740
  • Mar 3, 2025 2:01am Mar 3, 2025 2:01am
Quoting emmanuel7788
{quote} >>> 2B and not-2B <<< this below is not a 2B {image} ... {image}

Today's 'signal' candle example,

a false break of the DIB and close back inside the 5SMA hi-lo

Attached Image (click to enlarge)
Click to Enlarge Name: BTC Mar03 1-2-3 break 3-3-2025 3-37-30 pm.png Size: 37 KB



...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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