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trend catching with NonLagDot indicator

  • #1,701
  • Jan 23, 2016 2:53am Jan 23, 2016 2:53am
Quoting sechee
{quote} For the first entry, the dot was in blue when the trade was open, but it went all the way down until it turn to red. I'm still counting on my basket to earn back all the losses (the basket is still open throughout the weekend)
Hi sechee, No worry. You will make with this system a lot of green pips and recover your losses. Only one tip: start with your basked at a market open. For example I'm trading from the beginning of London open. Its really really rare, that there will be no big trend for one pair within a market session. But you have to start from beginning and trade all basked and signals. When you start your basked anywhere from the middle, after a lot of big trends, the possibility of course to get a big run is not good, because the market moved already. Especially Friday I would at least begin WITH London open, and stop trading after you reached first time your goal. Second tip: trade demo until you feeling comfortable. If you trade demo it doesn't matter when you lose your account because of such failures. After you two or three times doubled your demo account, go live with small small real account and so on....And the third: if you don't want to close your bad traded over the weekend, I think you trade to big lot sizes for your account, because of this it hurts to close everything. I'm right? But I will hurt much more if you lose your whole account after a gap... So be not greedy and have no fear.
  • #1,702
  • Jan 23, 2016 3:50am Jan 23, 2016 3:50am
Quoting TradeForexFx
{quote} No, you do not need to load the template on all charts. running the script on one chart should open up the 12 charts with all the indicators and EA on them. Some brokers have other than usual characters for the pairs, for instance instead of EURUSD they may have EURUSDm. If such is the case with you, please change the list of pairs in the script accordingly. Also try this: Create a template that you would like to have for yourself. Run the script using the exact name you have for your template as the relevant input for the script If someone...
Thank you TradeForexFx!
I made the fault to rename the template. Sorry - now it works!
  • #1,703
  • Jan 23, 2016 5:21am Jan 23, 2016 5:21am
Quoting sechee
another 4 hours before market closing. SHOULD I KEEP MY BASKET OPEN THROUGHOUT THE WEEKEND?
​Sechee we don't keep trades over weekend , too risky. No need tot take such risk even if basket In loss better to cover it next week than keep holding it till next week .
  • #1,704
  • Jan 23, 2016 5:22am Jan 23, 2016 5:22am
Quoting elpibe69
Closed the day with "only" 16pips (still better than a kick in the teeth). Bad MM, have to learn better when to close or when to let it run. I have also setup a different machine with the EA. I am planning to let it run 24/24 next week on the demo account to see it at works. I'll post the results. for the moment, have a nice weekend!
​Don't worry u will get used to the system, and u will collect many green pips .
  • #1,705
  • Jan 23, 2016 5:31am Jan 23, 2016 5:31am
Quoting captaingabi
Hi All, First, congratulation for this system to Lebaneese. And thank you all for so much contribution. This system sounds awesome, I have to try it out. It took some time to read all posts, examine almost all mt4 files and the pdf with examples. Let me summarize the system as I compiled these info and please do comment on it. Nolagdot rules: 1. Core rules of the system: - Apply indicator with Color 1 (so it colors dots), and length 20, others at 0. (so no repainting) - Wait for color change on...
​Welcome on board, nice summary .
Just one notice , that first candle could be traded, we search retracement and if it appear we will take it .
  • #1,706
  • Jan 23, 2016 5:34am Jan 23, 2016 5:34am
Quoting SmoothTrader
{quote} Welcome to the thread, and it is great to see someone who has taken such a keen interest in the concepts that they read and summarize the whole thread before commenting. Your work ethic is to be commended and will take you far in the world of trading, or any other endeavor you might choose. The only thing that I noticed in your summary was the point about the first candle not being a valid signal candle. I believe that this was when the nonlagdot indicator was repainting. Other than that it was a well worked and conceived summary. GREEN...
​Absolutely right , I just mentioned that , thanks Smooth for being alert .
  • #1,707
  • Jan 23, 2016 5:39am Jan 23, 2016 5:39am
Quoting Lebaneese
{quote} ​Don't worry u will get used to the system, and u will collect many green pips .
Thanks!! I hope I can also contribute actively to the thread.

cheers
  • #1,708
  • Jan 23, 2016 7:10am Jan 23, 2016 7:10am
Quoting Lebaneese
this a trade from one of my new students . {image}
Is this really a valid trade? If I would follow my instincts I would also say that this is a late entry in an exhausted trend.
  • #1,709
  • Jan 23, 2016 7:19am Jan 23, 2016 7:19am
Quoting sechee
I hit 2 SL from NJ, am I did something wrong? {image}
​no trade for first signal no good set up for second it should be still alive not closed yet.
Attached Image (click to enlarge)
Click to Enlarge Name: NZDJPYM30.png Size: 36 KB
  • #1,710
  • Jan 23, 2016 7:23am Jan 23, 2016 7:23am
Quoting Albertdkpllh
{quote} Well Lebaneese, I was referring to the GN sell trade i took earliear. You thought it was nearing the end of the trend. I lost -90pips on that trade. But the basket gave me a lot more {image}
​ok clear Albert. Keep posting.
  • #1,711
  • Jan 23, 2016 7:26am Jan 23, 2016 7:26am
Quoting Kilian19
{quote} Is this really a valid trade? If I would follow my instincts I would also say that this is a late entry in an exhausted trend.
​Kilian it was not the perfect set up but for me It was a valid trade. Each trade is trader choice that's why I always ask to post your charts and each one will choose if will take or no.
  • #1,712
  • Jan 23, 2016 8:01am Jan 23, 2016 8:01am
Quoting captaingabi
Hi All, First, congratulation for this system to Lebaneese. And thank you all for so much contribution. This system sounds awesome, I have to try it out. It took some time to read all posts, examine almost all mt4 files and the pdf with examples. Let me summarize the system as I compiled these info and please do comment on it. Nolagdot rules: 1. Core rules of the system: - Apply indicator with Color 1 (so it colors dots), and length 20, others at 0. (so no repainting) - Wait for color change on...
​Captaingabi Just if u can edit and delete the ( first candle cannot be considered a retracement candle ) because I edit the first post and your summary link is now available there to help others to catch faster the system.
  • #1,713
  • Jan 23, 2016 8:44am Jan 23, 2016 8:44am
Quoting Lebaneese
{quote} ​no trade for first signal no good set up for second it should be still alive not closed yet. {image}
Thank you sir!
  • #1,714
  • Jan 23, 2016 8:47am Jan 23, 2016 8:47am
Quoting Lebaneese
{quote} ​Sechee we don't keep trades over weekend , too risky. No need tot take such risk even if basket In loss better to cover it next week than keep holding it till next week .
I will stop doing that again, thank you sir!
  • #1,715
  • Jan 23, 2016 9:00am Jan 23, 2016 9:00am
Quoting kleybenny
{quote} Hi sechee, No worry. You will make with this system a lot of green pips and recover your losses. Only one tip: start with your basked at a market open. For example I'm trading from the beginning of London open. Its really really rare, that there will be no big trend for one pair within a market session. But you have to start from beginning and trade all basked and signals. When you start your basked anywhere from the middle, after a lot of big trends, the possibility of course to get a big run is not good, because the market moved already....
Thank you very much for your advice.
Tip 1: i will be more aware of what time i start trading, especially on friday.
Tip 2 & 3: i'm trading live with minimum size 0.01. I will avoid carrying trades over the weekend again.
  • #1,716
  • Jan 23, 2016 9:02am Jan 23, 2016 9:02am
Quoting SmoothTrader
{quote} Be sure that you understand the system. We place a pending buy stop at the high of the first counter trend down candle, after the candle has closed, when the dots are blue. The market never got that high again until after the next candle closed with a red dot which is when the pending buy stop would've been canceled before being filled. Therefore this was not a valid trade according to the system. Review the rules and make sure you understand them. Write ALL the buy rules down on a sheet of paper, or small 3x5 card, and write ALL the sell...
Thank you sir!
  • #1,717
  • Jan 23, 2016 10:52am Jan 23, 2016 10:52am
Trade ranges in between no lag system. Just make sure there's enough depth to the sideways channel to make it worthwhile. Make em pay for ranging!
Attached Image (click to enlarge)
Click to Enlarge Name: Range channel pic.JPG Size: 34 KB
  • #1,718
  • Jan 23, 2016 11:43am Jan 23, 2016 11:43am
Quoting sechee
{quote} Thank you very much for your advice. Tip 1: i will be more aware of what time i start trading, especially on friday. Tip 2 & 3: i'm trading live with minimum size 0.01. I will avoid carrying trades over the weekend again.
A professional trader learns from all of his actions, both the winners and the losers. Yes a winning trade can also be a bad trade too because it broke your personal trading rules and just happened to make money. What I see here is you demonstrating the beginnings of a professional traders mind-set. Asking questions, learning from those questions and their answers, making notes of the lessons learned, and vowing to incorporate those lessons learned into future trading habits. WELL DONE.

GREEN pips flow easier to those that learn from the past.
  • #1,719
  • Jan 23, 2016 1:09pm Jan 23, 2016 1:09pm
Hi
thanks for ur wonderful strategy.. could u tel me how much take profit should i need to use , little bit confused ,,,, and in which session is best to use this method ie asia, usa uk etc ,,,, thanks in advance ,,,,,
  • #1,720
  • Jan 23, 2016 1:53pm Jan 23, 2016 1:53pm
Not sure if this was mentioned earlier, but one could consider making this slightly more complicated: one could use the strategy on linked timeframes, so that one takes the first signal after the reversal on a lower tf, with this reversal constituting the first pullback after a reversal on the higher tf. This would have the advantage of getting a higher RR, since in principle the risk is defined on the lower tf and tp on the higher.
k
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