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trend catching with NonLagDot indicator

  • #1,501
  • Jan 21, 2016 8:03am Jan 21, 2016 8:03am
Quoting kosmo
{quote} Left some pips on the table, but with so much in the pocket and the rest of the day off, who cares! {image}
​I am so happy to see all those green pips, keep posting for all.
  • #1,502
  • Jan 21, 2016 8:06am Jan 21, 2016 8:06am
Quoting Lebaneese
{quote} ​you could catch much more if you took all signals. Nice week result . Today only GJ was bad but covered with tooooooooo many winning pairs.
You are right. I didnt want to get all signals, dont know why... Maybe I was afraid to be overexposed. Anyway, the end has been beautiful! Thanks Toni
  • #1,503
  • Jan 21, 2016 8:07am Jan 21, 2016 8:07am
Quoting Lebaneese
{quote} ​Your AU is bit late , I see we have some different Data. {image}

Lebanese, I think you placed last arrow wrong here. Your arrow is placed on the candle with the first red dot.

Comment?
  • #1,504
  • Jan 21, 2016 8:08am Jan 21, 2016 8:08am
Quoting Lebaneese
{quote} ​thanks for nice word , just keep posting results and trades to help others. Wish u all the best.
  • #1,505
  • Jan 21, 2016 8:12am Jan 21, 2016 8:12am
Quoting driven18
{quote} Lebanese, I think you placed last arrow wrong here. Your arrow is placed on the candle with the first red dot. Comment?
yes it can be on first or any candle while we have a formation of a trend we just need a retracement candle .
  • #1,506
  • Jan 21, 2016 8:13am Jan 21, 2016 8:13am
Quoting Lebaneese
{quote} ​Sechee if u lost the GJ trade , remember that you have to add the loosing some to your basket target to cover the loss plus the daily target.
Thank you for your advise, sir!That's all for this week!
  • #1,507
  • Jan 21, 2016 8:13am Jan 21, 2016 8:13am
Quoting forexdaist
{quote} You are right. I didnt want to get all signals, dont know why... Maybe I was afraid to be overexposed. Anyway, the end has been beautiful! Thanks Toni
One way to overcome your concern about being over-exposed is to base your trade size upon the assumption that all your pairs that you trade, be it 8, 10, 12 or whatever, will hit their SL. This will make sure that you trade conservatively and that if you should hit all of your SL's you will not blowup your account.

It is always better to under-trade and miss some profit potential, than to over-trade and blow your account.

GREEN pips to every one.
  • #1,508
  • Jan 21, 2016 8:15am Jan 21, 2016 8:15am
EURUSD trade Complete for me. Out at the Green line.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM30_JAN21st_US.png Size: 40 KB
Know your edge and trade within it
  • #1,509
  • Jan 21, 2016 8:17am Jan 21, 2016 8:17am
AN triggered
Attached Image (click to enlarge)
Click to Enlarge Name: pair.png Size: 25 KB
Early bird gets the worm
  • #1,510
  • Jan 21, 2016 8:19am Jan 21, 2016 8:19am
what about in choppy market ?
  • #1,511
  • Jan 21, 2016 8:19am Jan 21, 2016 8:19am
Quoting Lebaneese
{quote} ​you could catch much more if you took all signals. Nice week result . Today only GJ was bad but covered with tooooooooo many winning pairs.
You are right. I didnt want to get all signals, dont know why... Maybe I was afraid to be overexposed. Anyway, the end has been beautiful! Thanks Toni
  • #1,512
  • Jan 21, 2016 8:20am Jan 21, 2016 8:20am
Quoting forexbandit7
AN triggered {image}
​looks promising even I have no idea about this pair , but looks nice set up.
  • #1,513
  • Jan 21, 2016 8:22am Jan 21, 2016 8:22am
Quoting SmoothTrader
{quote} One way to overcome your concern about being over-exposed is to base your trade size upon the assumption that all your pairs that you trade, be it 8, 10, 12 or whatever, will hit their SL. This will make sure that you trade conservatively and that if you should hit all of your SL's you will not blowup your account. It is always better to under-trade and miss some profit potential, than to over-trade and blow your account. GREEN pips to every one.
SmoothTrader: good advice. Let's say we are on 50:1 leverage and with a 5000 account... What would be a good way according to you to size correctly? Trades in the baskets keep coming because the system is based on that.... So how many lots would you go with? Thx in advance my friend.
  • #1,514
  • Jan 21, 2016 8:45am Jan 21, 2016 8:45am
Quoting Lebaneese
{quote} ​I think today is finish as trading , I don't think we will get more trades. get ready for tomorrow .
but NU, AJ, NJ and CJ all look promising though.
  • #1,515
  • Jan 21, 2016 8:50am Jan 21, 2016 8:50am
Quoting Lebaneese
{quote} ​I am so happy to see all those green pips, keep posting for all.
Absolutely, Sir. The NLD has certatinly earned its place on my otherwise clean charts.
All the best to you.
mind over matter
  • #1,516
  • Jan 21, 2016 8:51am Jan 21, 2016 8:51am
Quoting failedbid
{quote} but NU, AJ, NJ and CJ all look promising though.
if u want to keep them open set BE and let the profit run .
  • #1,517
  • Jan 21, 2016 8:58am Jan 21, 2016 8:58am
Put pending orders and off to play some Fifa, come back and see +150 pips in profit, Trades taken on 4H for specific reason. Not to be behind computer all the time. EURCAD was set to TP at 200pips but missed it by 20. If i would've entered on 30min chart basis, would've gotten alot better entry. But still 150 pips for playing 2 games of Fifa is not too bad ? Missed out EURAUD trade because i saw too much bullish movement on 30min charts before i left for lunch and didn't want to leave it without supervision and deleted the pending order. Would've been nice +150 at least if not all 200 Thank you Lebaneese!

EDIT:
EURAUD and EURNZD missed trade ( note the red arrows, thats where my pending was before lunch). Total pips missed 360
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURCADH4.png Size: 41 KB
Click to Enlarge Name: USDCADH4.png Size: 38 KB
Click to Enlarge Name: EURAUDM30.png Size: 40 KB
Click to Enlarge Name: EURNZDM30.png Size: 39 KB
  • #1,518
  • Jan 21, 2016 9:10am Jan 21, 2016 9:10am
Hi There,

New to reading this thread. Interesting strategy. My Questions is around stop losses. Nobody seems to have them shown on their charts they show. Are we not using Stop Losses?

Also, I have spent a while reading back through the thread and im still confused with the entry. My understanding was that entry was valid when a candle breaks through the dot however i see many trades where the candle has broken through but not been traded or the candle has not broken through and has been traded. Are those charts just great hindsight?

Thanks.
  • #1,519
  • Jan 21, 2016 9:24am Jan 21, 2016 9:24am
Quoting SmoothTrader
{quote} One way to overcome your concern about being over-exposed is to base your trade size upon the assumption that all your pairs that you trade, be it 8, 10, 12 or whatever, will hit their SL. This will make sure that you trade conservatively and that if you should hit all of your SL's you will not blowup your account. It is always better to under-trade and miss some profit potential, than to over-trade and blow your account. GREEN pips to every one.
.
Attached Image (click to enlarge)
Click to Enlarge Name: SmoothTrader.jpg Size: 163 KB
  • #1,520
  • Jan 21, 2016 9:44am Jan 21, 2016 9:44am
Quoting joe12345
{quote} SmoothTrader: good advice. Let's say we are on 50:1 leverage and with a 5000 account... What would be a good way according to you to size correctly? Trades in the baskets keep coming because the system is based on that.... So how many lots would you go with? Thx in advance my friend.

The first thing that you must do is to determine what pairs you are going to trade.

Once you know what pairs you are going to trade figure out the approximate pip value for each pair.

Then determine the maximum SL that you are willing to use on each pair. They will be different since the highly volatile pairs like the Gbp/Nzd move on average as much as 300 pips per day while the Eur/Gbp moves on average 75 pips per day. This may also be an indicator if you are going to take a trade or not. What I mean by that is if the stop loss to the proper swing high/low is more than 100 pips, for example, this might be a good indication that the price has moved too much before there was any draw back, so the chances of it continuing are lower. A percentage of the daily ATR is a good place to start in determining if it has moved too far.

Now multiply the pip value by the maximum SL for each pair and this will give you the maximum loss per pair.

Add up all the losses and this will give you the maximum basket loss. This number will be substantial. For my basket of 16 pairs it would be as much as approximately $64 per 0.01 lot (16 pairs * $.08 average pip value * 50 pip SL ##not real numbers but close##).

Now what percentage of equity are you willing to risk on total catastrophe? Remember chances are very low that this will ever occur.

For illustration purposes only lets choose 12.8% of $5,000 = $640 maximum risk. $640/$64 = 10 * 0.01 = 0.10 lots per pair. Your account would not blow up unless you had 15 total losses in a row.

What would be a reasonable basket goal? For 0.10 lots per pair a goal of $100 would be very reasonable. Even if this were your weekly goal, your $5,000 account would double every 9 months. That's nearly $100,000 in just over 3 1/2 years. At that point you could take $2,000 per week out.

Of course these numbers are just for illustration purposes only. The exercise is to determine the worst case scenario and trade as if it could happen. With that knowledge, you can prepare mentally and financially to trade relatively stress free.

GREEN pips to you and may all of your trading be as stress free as possible.
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