..................Forme the best set up is NLMA MTF indicator with Coral, nothing else. Adding in other indicators can help at time show me visually, but the long term trend is there in the NLMA MTF indicator.
The one missing peice that an indicator can never provide is chart time.
NG has discussed this in many of his posts, why he took certain trades and avoided others.....this is chart time/experience.....learning to read price action. I know in my evolution as a trader I have sometimes tried to fill this missing...
Trading is about probability. No matter what system do you use, in the end you always have to choose between Up or Down. Buy or Sell. If you see or get caught up when these two things are mixed up in a day, get out and stay away! Comeback another day. Dont revenge the market. You might be succeed doing it once in a while but soon you will realize that this activity will ruin your long term discipline.
As long as you keep earn bigger when you are right and lose smaller when you are wrong, you are on the right track. That's all. Dont make it any harder for yourself.
All in all...This system is only half of your key to success, you need a proper MM, a good mental attitude and discipline to complete the other half. Now, It really sounds like a work.... well it is.
Remember the old saying..... SYSTEM WORKS BUT TRADERS FAILED.
NG
PS:
I am done with the technical stuff.
But still I know that some of the new guys still failed to trade this profitably because you guys entering too many
revenge trades on a ranging market or simply forcing yourself to take too many different signal everyday.
That's exactly where the traders failed. You have to be patience and have a discipline
That's why I keep writing this non technical stuff in last couple of posts.
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. I have opened a tiny account of USD 300. I risk 5% for every trade and that means 15 pips for 0.1 lots. But once I move this strategy to my regular account I have to figure out different MM to suit this strategy.
