here is the situation on 5 December, where the dragon had lost because he bought too early.
Price too quickly went to buy, and this usually happens after a rollback.
Price too quickly went to buy, and this usually happens after a rollback.
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DislikedI want to say that the stochastic parameters of 5-3-3 is often deceiving, and I look usually Stochastic 14.3.3. In my opinion we should look not only at the stochastics, but you need to look and EMA, and when all conditions are identical, and only then make a deal.Ignored
DislikedYour english is fine... I think you need to concern yourself less with the indicators... Hmaoui's original indicators are all you need. In fact, DMI is rather unecessary if you can just look at the price moving. If MAs are spread nicely, the trend is going strong.
What you should do is have a bigger time frame chart next to you, look at 5 and 30 minute charts, or 15 and 1 hour. This sytem works great for a pullback when you are in a lot of space on your larger time frame charts. EUR has been very tight the past week or so and a lot of seemingly...Ignored
DislikedI understand. But, for example, what happens in the following situation?
In 5 minutes: uptrend. Retracement. Stochastics oversold.
But in 15 minutes: uptrend. Stochastic overbought. Maybe begining of retracement?.
Is it safe to buy in this situation?Ignored
DislikedI don't have any indicators on my larger time charts. All I am looking for is where there is no choppy price action before, like for example, the last buy a half hour ago using this system in EU, if you look at a 5 minute chart, we had just broken out of a range and there was lots of room before the next choppy price area. I know its very subjective, but maybe you could look through your charts and see if you can find a correlation between 5 minute and 15 minute stochastic readings and how it affects the outcome of the 1 minute trades.
Hmaoui...Ignored
DislikedOk. Thank you very much.
I like your idea of waiting for the candle close above (or below) the previous candle. Enter signal is clearer.Ignored
DislikedAgreed. And in that example above, if you wait to buy until price closes above the last pullback bar, that early buy would have been prevented all together.Ignored
DislikedYes, but how can we know, which one is the last pullback bar? Look at the attached chart: I would have entered at the open of the bar with the vertical line (would have been a loss also) after the 2 bullish pinbars being rejected from the 20 EMA, Stoch oversold, DMI+. Had we waited for the last pullback bar, the DMI was -.Ignored
DislikedWould it be possible that you would post your template or the indicator settings you are using?Ignored
DislikedVery true, and honestly, I don't have an answer other than you really have no idea what will happen next in the market and you will lose some trades. In that chart you posted, the market is just going up and down, the MAs are just crossing up and crossing down, the price is not really moving (i.e. no strong trend). The market had just double topped, and looks to be forming a triangle so you're certainly not in a strong trend. I understand the desire to catch the very start of a trend, but this system isn't that. So that's not a situation when I...Ignored