I'm suffering to manage a small account, every wrong entry, I do not know what happens ...
Alien's Extraterrestrial Visual Systems
- #16,805
- Edited 4:41am Nov 17, 2016 2:54am | Edited 4:41am
I am trading a small account, and always lots 0.02,0.01 The problem is not the lots, the wrong entries and the price turning against me, I'm letting the winners die and the losers continue, maybe that's it ... The pressure of wanting to grow up fast this small account, is making me make silly mistakes, and the market as a whole, are totally misaligned, with a lot of indecision, and the price up, down in minutes I will try to concentrate and do the right things, the problem is in my mind, I will align it with the system, and maybe things will improve,...
{quote} updating both sides... these settings we should focus on, everything is self at all times {image}
advice from master JPadisor
" Pay attention Hugo. GJ is a dragoon. To play M1 is very dangerous with this pair. GL 
"
- #16,810
- Nov 17, 2016 3:53am Nov 17, 2016 3:53am
- Joined Jul 2013 | Status: Trader | 2,603 Posts
I'm suffering to manage a small account, every wrong entry, I do not know what happens ...
when you have a problem using the system, is time to reread the thread from beginning till the last teachings from Alien Master. Surely you missed something!
I know you like to trade the momentum. Correct, but the secret is in this picture.
So you keep a trending pair and look for a retracement. Then you watch with MTF if you find a good Alien setup on H1 or H4.
If you dont find it dont worry, sit on your hand, it will come next.
When you find the setup wait for the aligment of all TFs from the setup found down to M5 and there you enter the trade.
This way you should have an accuracy of over 80%. Remember also that the lower TFs are more difficult to trade than the higher.
This is my two cents. Cheers.
Per aspera ad astra
- #16,811
- Nov 17, 2016 4:20am Nov 17, 2016 4:20am
{quote} Hi Hugo, when you have a problem using the system, is time to reread the thread from beginning till the last teachings from Alien Master. Surely you missed something! I know you like to trade the momentum. Correct, but the secret is in this picture. So you keep a trending pair and look for a retracement. Then you watch with MTF if you find a good Alien setup on H1 or H4. If you dont find it dont worry, sit on your hand, it will come next.
Thanks jpadvisor
always saying something new that i have not heard before.
by the way - entered two DS trades yesterday and both were winners. Thanks
- #16,813
- Nov 17, 2016 5:38am Nov 17, 2016 5:38am
- Joined Dec 2011 | Status: Part-time Trader | 1,519 Posts
Work smarter,not harder
- #16,819
- Edited 9:48am Nov 17, 2016 9:18am | Edited 9:48am
- Joined Oct 2011 | Status: Trader | 201 Posts
{quote} Hi Hugo, when you have a problem using the system, is time to reread the thread from beginning till the last teachings from Alien Master. Surely you missed something! I know you like to trade the momentum. Correct, but the secret is in this picture. So you keep a trending pair and look for a retracement. Then you watch with MTF if you find a good Alien setup on H1 or H4. If you dont find it dont worry, sit on your hand, it will come next.
here goes, on the Alien template we have the bollinger band and it reacts to volatility and creates bubbles which price interacts with. Now as JP, Marco and others say let the first waves start and wait for the retracement. When this occurs then the BB respond but has a lag which presents a characteristic in a trend based system like Aliens. If you draw a horizontal line from the bottom (for short) or top (for long) of the BB bubble, this gives an initial target. Now you wait for the entry signal ie BBS, DS, Slingshot, 8/21 cross and this can give you an initial target to do the R;R calculation to see if the trade is worth trying.
With regard the waiting for the 3rd wave, if you look at the BBS and then the breakout long or short in that 1st wave, the BB bubble will give you no real target with this method. This is important information that you are trading too soon. now when the wave 2 retracement occurs and the wave 3 money is setting up, just look at this BB bubble characteristic, its really helps emphasise you are setting up for the bigger moves in Wave 3 and/ or 5. It happens on all TF's, obviously with respective results for the next moves
I attach three examples to show this in operation, to be honest you can pull up any chart with the Alien Indies and you will see a high probability of success as this repeats so many times.
Remember this is part of your trade setup routine so it also helps with patience (which is a demon for me) and this has helped. What this does also do is let you get into a trade with a potential target but then watch the indies ADX etc to keep it going beyond this initial point. It shows nicely in a high volatile market (big bubble) and also in a low volatile market or at the end of a trend ( a heads up) when the last DS, ADX, Slingshot show up and give little profit before turning back.
It also helps in a ranging market as again the BB bubbles are small and the R:R should be screaming not to take the trade
Its not precise but as Alien and others all practice, its visual and very simple to use, its not introducing any new indicators, its just using what has always been in the Alien system but underutilised
- #16,820
- Nov 17, 2016 10:27am Nov 17, 2016 10:27am
- Joined Jul 2013 | Status: Trader | 2,603 Posts
{quote} Adding to this and with a view to having an initial target, this has helped my physcology and once this initial target is reached then look at the Alien indies and if they are strong then trail a stop from this point onwards, ie use the 89/144. This just helps visualise a target when you see a potential setup. here goes, on the Alien template we have the bollinger band and it reacts to volatility and creates bubbles which price interacts with. Now as JP, Marco and others say let the first waves start and wait for the retracement. When this...
Per aspera ad astra