"Katana Trading Strategy"

As you can see, quite a few opportunities to catch a trade on this Gold chart, when the market trends, that's when you make money.

AU looks set to make a move this session.. was a pull back continuation signal. Definitely worth watching this chart...

when the market trends, that's when you make money... price moved xx00 to xx50 levels...

this is how price moves..

Sometimes the problem with trying to trail a position and capture a bigger move, invariably prices retrace right back to the entry... which is why taking profits at the xx00 and xx50 levels is a very good idea...

AU and EU charts both showing retracements against the trend...

Resistance evident at these levels is a good sign of continuaiton..

From profit to loss.... from xx50 to xx00 level in the market...yes it's painful to have this happen...

This sort of momentum of price does not generally stop and reverse easily...

Selling around here could well be a very good idea on EU

Attempting to approximate Katana chart setup since found the price bars script has been disabled - that is, once you download it it doesn't open.

This is Renko which is a kind of price bar. Renko is set for 100 on the M1 chart. (to get 10-pip bars on brokers with 5 places after the decimal point.) The ema's are set for 20, 40 & 60, which might be too narrow.

Of course this (the trades) is exactly the kind of thing you want to avoid, and can always hope that Katana will be the answer rather than just acccept fact of hopelessness after about four years now of demo-ing, though have gotten somewhere lately by checking longer timeframes first, if can remember.

What you see is not an active attempt to use the martingale method. That's just the way it came out. Have at least learned intellectually that the way to trade is to follow the trend, not attempt to predict it or expect it to meet expectations, and am hopeful Katana will have a positive effect in this regard. Mushashi has certainly mentioned enough times that this is the way it's done. He is obviously an accomplished trader and teacher. Believe from reading the thread that checking several thing, like S & R, trendline, Highs & Lows, as he does, before jumping into a trade, is the way to proceed.

Now if only could learn to do this. But having expressed this wish, go directly and enter something without remembering any of it! And ever again.

If you want to use Renko, then use this file to make the Renko Blocks.

I would not recommend using them, at the very least use them with the wicks enabled.

The Renko Blocks do not give a true representation of price, unlike the Range Bars.

Sell on EU going to go lower..... 1.2945 S/L

I still remember the days when these bars used to move this time of day...

Those days will come again... can't wait.. sheesh..

Think this will be it until after the new year....

I have been following your threads from page.1 really interesting to read on, but i have to ask questions else i couldn't not follow up.

Hi Mr M. do you mean lower low = short / Higher high = long?
How do we see the color histogram?
green = bullish
blue = retrench
red = bearish
white = ?

how can stochastic show's the two of the main signal?
reversal sign / trending? im sorry if i got you confused. please correct me if im wrong.

lol... I was wondering what you were thinking about with that position right about now... there was a huge doji on the 5 minute two three candles ago, I thought that might turn it around for you, but instead it just wants to bounce around...

ohhh... heree it goes maybe....

edit: oops, i guess not..

Appears that GU was the pair to trade and not euro.... might be a delayed move here for EU... can only hope so..

Unusual to see GU move so much and the other pairs not even move a bit..

Probably a good idea to exit this trade with a small loss, seems that a possible Higher Swing Low has formed, giving reason to think about early exit.

Nothing worse than being stuck in a trade going no where fast...

The trend continues in the original direction... only just...

What a jumbled mess... could just open random trades in this and close out when you see a few pips profit.

Jumbled mess to some... trading platform to me..

Do you call this a jumbled mess as well?

This is how you can make money...

Sir... I was in no way talking about your template or strategy or setup. In fact, I have a very similar one I use as for trend following as well.

I meant the Eur/Usd market itself.

Moved stop down, just in case of a big move about to happen on euro