More simple is impossible

1. below 11795 U should SHORT only ... close short and re-open short with down trend. red EMA
2. luck of SL ...

BTW.. I think I caught nice S 11745 BE+5 ...Target comeback to EMA 11715-11720
EDIt : OUT +39

Thank you Dee for support. I think its definitely problem of XTB-Broker marking instruments. EA cant read 2 dots behind title of instrument "DE30.." and probably it is the problem with reading .hst file by EA.

Well then....GAME ON



#1 Interesting. You bought and sold at the same time. Here is my opinion on the trades taken at #1, individually.

THE SHORT: VERY WRONG. Price was going up. Yes there was a bearish divergence but after a divergence appears you must get a confirmation that price is willing to go lower (and the best one is a LL; range break lower, trend line break could also work - none of them occurred at this point). Another mistake is that you sold close to a SR level. I notice that at the moment of the trade Stochastics started to slope down so this trade was mostly taken trading indicators, not trading basic price analysis.

THE LONG: WRONG. You were going with the trend but this was not the place that would offer the highers odds; since a divergence was present you were hoping that there was enough momentum in the move to go keep going higher. In this situation a buy at a lower level is better and here's why: the divergence shows loss of momentum and if you look at price alone you can see that the last leg up extended less than the previous one so a shallow retracement is not a high probability trade (even if the trade was at the SR marked by the high of the previous leg up - one marked by the 1st red dot left to right); it seems unsustainable. Also, Stochs is sloping down from OB (start of downward cycle). I don't know how much you rely on Stochastics, for example (in general) sometimes you enter long as Stochs comes off the lows, sometimes you enter long when Stochs is OB (you trade only price)...and of course I suppose there is a general way you use the Stochs, but it also depends on the specific situation you are in...anyway......I don't know why would you ignore Stochs here since a Stochs move coming off the lows would give you better probability.

When you have a hedge like this one, if you don't close them at the same time, the exits are very important. Your short exit was good, right at a level. Your long exit, IMO should have been sooner, since price shows bearish tendencies; I would have closed at BE after price was rejected lower (the rejection that occurred in the move that followed the shallow retracement)

#2 Better then the long from #1 but still carries risk. You certainly bought lower; the trade was after price was rejected off the BRN. Technically, you bought a PB in a up trend but the reasons I mentioned before that make the long at #1 risky are still in effect here. On the plus side MACD was still showing momentum. The one thing that would have made this trade safer would have been Stochastic sloping up from under 50. The trade looks like it's around the 50 fib level of the last leg up so that's an extra plus for the trade. Exit was good, just after double top formed.

#3 Difficult to say. The thing is that at this moment price broke a triangle to the low side and made a LL. Price also broke through several up trend lines. The analysis certainly points to shorts, however after price breaks structure (in this case makes LL, breaks triangle) it will usually return to retest...you traded that move up. The thing here is...you bought under a SR level that was previously respected (quite close to it); on the other side you bought off both EMAs and, of course, a retest of the broken structure was due. Stochs was sloping up, this could be an extra reason to go long. MACD was showing weak downward momentum. You should have bought when price moved above the SR level and manage the trade closely, after all you are CT.

#4 Good trade! Price is going lower: swings have downward sequence and everything is under the MAs. There is a hidden divergence on Stochs and the Slope points south, MACD shows some downward momentum (usually price is king; price and MACD show the same thing here). The only thing that would have improved this trade would have been entering at the close of the previous brick.

#5 Everything that is PRO the short at #4 is against the long at #5. The only thing that support a long is that price actually moved up a bit and Stochs is OS. It would have been safer to buy the bounce off the SR marked by the 2nd blue dot, but that would have been risky as well. Getting out of this trade fast was a good move. I actually have no idea why you bought; price is basically in a downward channel, but you should have bought much lower if you were going for a scalp like that.

#6 Good trade! You didn't wait for Stochs to give you a OB situation but the same reasons from #4 go here as well.

#7 Wrong trade! The reasons I gave at #4 are still in place but the time for a sell is not right at all because: most important, price is going down into a SR level and a safer trade would have been after a PB so you don't avoid eventual draw-down. You should have closed sooner!

#8 What the hell are you doing...again?? . When a trade is on minus...add more trades to that direction; that's actually how I burned a couple of small accounts. The reasons against the trades are the same as at point #7, but these situation is worse because you opened more trader. This could have been a good CT trade off the BRN; Stochs supports that. Should have been closed right after they were opened.

#9 Great trades! Taken off the EMA (played as dynamic SR quite good on this chart). Price is obviously going lower (reasons from #4) but here you also have Stochs coming off the highs. Exits are too soon.

There is one thing that I should mention. When you look at price at this point you see that it moved with some difficulty lower, compared to the ease that it moved higher. At point 6 price started moving strongly lower and that's fine but the move back up was equal in strength to the one lower and...I don't know how much you rely on MACD but here the momentum was gone so, you can consider the possibility that you are now in a trading range. The short was by all means good and at the top of the range, but the TP expectations must be adjusted. You could have closed the trades lower, that's the only thing here...

#10 If you entertain the idea that you are in a trading range, the trade at point 10 is in the middle of the range. Usually trading ranges break in the direction of the trend so that supports the trade, however there is potential for draw-down. The best thing to do is to have kept the trades from #9 opened or short the retest that came after the break of the BRN / lower limit of the range (but that's beyond the time limit).


Other mentions: I notice that you didn't cared about bricks closing above / under the 5 EMA. You seemed to have traded the Stochs more than price (OB/OS mostly). You certainly made your broker very happy today

I would really like to know your reasoning behind the trades. Why you traded the way you traded and why at those price levels.

P.S. Sorry if I got too much into details...this was a good exercise for me and to be honest...It was also fun

One more thing, I just noticed...you don't use SL and TP.

FDAX +36 ;]

GM all,
out dax +61+90+26


buy eurcad euraud eurnzd +40+40+30 ongoing
sell audusd +4 sl@be ongoing
all PO entry at RbR




edit: closed all,
done for today

The DAX pic looks like Center of Gravity and enters similiar to Oan4X - My own developed Benkayalate system I think it has big potential, mainly with renko bars.
What about bot results after yesterday FOMC ?

result, mt4 freeze at some time of the day.
I had to change the version of the bot because it is the second time that he does. ( this is boring and tedious)
result maxi DD which erased the gains of 3 days, and a lot of disappointment.
the bot would have the potential but they continue to push beyond his duty without noticing that the values alone are advancing the system.
ergo, a lot of bugs.
some last tests and I give up because I will not waste any more time on.
btw
tma not cog,
what is this?
'Oan4X - My own developed Benkayalate system'
ok i get it

and again

...I have to start eating what you eat ...

Well...I served JJRVAT's PDF (from this thread), Principles of Accumulation and Distribution (Wyckoff and etc...) and from my early days of trading some stuff from Al Brooks. But the 1st two are the main dishes

Happy to help

very well I am impressed.. I like your DAX trades. Could You show your NEXT charts with X and Y. (scale)

I dont know, some of those traders with Dashboard have success, but they trade more manually than with bot... And that change absolutely meaning of Dashboard bot. In my opinion, that bot is pointlessly complicated and I think that only scalping bot can bring some consitently green pips. Why ? Because no impact of news (vice-versa you can profit from that), no impact of changing major trends and so on. But thats only my opinion with Im working on my own EA based on Renko Charts

Today: DAX30 + 30pips - 3x TP 10pips, during 1 hour

THX mate!!
off course i'll do!

lost two potential good entry on dax+break of tma on BRN


and this is the situation right now with another entry +50 ongoing
(not taken only to monitor the price move)

what are those lines which makes chanel ? EMA's ? or some magic indicator?

This looks better than Dashboard bot, much better. I think it want to let higher SL, but that results, no comment. Do you trade only reflections of extreme lines (pink) ?

tma
i started reading from here
http://www.forex-tsd.com/metatrader-...erage-tma.html

short euraud
+45+30+15
3 top it's enough!

yes 'm trying..
always follow trend and dax stoch situation (as teach by dee),
trying to spot extreme of tma+brn+div+stoch OB/OS, placing pnding limits at the extreme of channel.
but, caution! these indi repaints like picasso!