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The Paradox System

  • #7,521
  • Jan 16, 2017 1:11pm Jan 16, 2017 1:11pm
Quoting Pandakker
Date:16-1-2017 @ 0700 CET Daily: ROMAR -Support EMA -Resistance PSAR -Resistance Check List: Last MACD 0 crossingDown Last EMA Alert ArrowDown Last DB AttachmentBottom @ 121.181 Last SAR AttachmentBottom @ 121.181 Fibo up or downDown Notes:EMA and 4 Horsemen in downtrend. Romar still support but could be reached. Also fib 61.8 could be reached as target. BB are open. 2 HR: OPEN PRICE - 121.229 ROMAR -Resistance EMA -Resistance PSAR -Resistance Check List: Last MACD 0 crossingDown Last EMA Alert ArrowDown Last DB AttachmentBottom @ 121.998 Last SAR...
I went short this morning (09:00 CET) with the open of the 2Hr bar.
Reason market at 1Hr Smooth and 2Hr purple.

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  • #7,522
  • Edited 2:05pm Jan 16, 2017 1:46pm | Edited 2:05pm
Quoting Tortilla
Ok then, I have this: https://www.mql5.com/en/charts/64253...ain-capital-uk https://www.mql5.com/en/charts/64253...ain-capital-uk https://www.mql5.com/en/charts/64253...ain-capital-uk One last question... I am strugling with the GMT offset, I live in Canary Islands, and here it is GMT 0 Which digit should I enter in the Paradox_Session_Indicator ? Sorry to bother you over and over!
Does not matter, leave it as it is, 5 is correct.
  • #7,523
  • Jan 16, 2017 2:49pm Jan 16, 2017 2:49pm
Quoting Tortilla
Hi all again! I think i managed to install the paradox system, in the first page I downloaded all (also the needed indi in the first post due to the MT4 update) and had converted the H2 offline chart... However I would like you to confirm if below is correct comparing to your charts. I opened with the broker Forex.com as I have read in order to have same hisrtoy. https://www.mql5.com/en/charts/64252...ain-capital-uk https://www.mql5.com/en/charts/64252...ain-capital-uk https://www.mql5.com/en/charts/64252...ain-capital-uk...
Everything looks good accept the VERTICAL spread also needs to be open so the Fibo is correct on all charts. And as Shaun had said, we are now on the E/J.
The Dove - Forex Trainer
  • #7,524
  • Jan 16, 2017 2:52pm Jan 16, 2017 2:52pm
Quoting Pandakker
{quote} I went short this morning (09:00 CET) with the open of the 2Hr bar. Reason market at 1Hr Smooth and 2Hr purple. Image1.png;2142295 Image2.png;2142297 {image} {image}
Well trader - that trade is no good as far as I am concern. As I have stated earlier you have to post the trading plan first, then post the entry next, and then an evaluation of the trade when it is completed. OK?
The Dove - Forex Trainer
  • #7,525
  • Jan 16, 2017 3:20pm Jan 16, 2017 3:20pm
Quoting dove_alliance
{quote} Well trader - that trade is no good as far as I am concern. As I have stated earlier you have to post the trading plan first, then post the entry next, and then an evaluation of the trade when it is completed. OK?
Hi,

I can understand that my trade is wrong.

But i posted earlier this morning my trading plan. (Post #7,506), then later today I read your Post about first posting trading plan, then the entry and at last the evaluation.
So after reading that, I posted my entry which I took earlier.

So I'm not sure what I did wrong related to the order of posting on this thread.
  • #7,526
  • Jan 16, 2017 3:21pm Jan 16, 2017 3:21pm
Anybody know why the spread has increased so much and market behaving weird. I can't find any news at all. Usually the spread increases after 1700 and it's only 1620 est.
Behind the curtain's mystic fold The glowing future lies unrolled!!
  • #7,527
  • Jan 16, 2017 3:23pm Jan 16, 2017 3:23pm
Quoting Clip75
Anybody know why the spread has increased so much and market behaving weird. I can't find any news at all. Usually the spread increases after 1700 and it's only 1620 est.
Probably USD bankholiday.
  • #7,528
  • Jan 16, 2017 3:27pm Jan 16, 2017 3:27pm
Quoting Pandakker
{quote} Probably USD bankholiday.
OK thanks, but the spread was normal I think most of the day and now very high. Seems strange.
Behind the curtain's mystic fold The glowing future lies unrolled!!
  • #7,529
  • Jan 16, 2017 3:33pm Jan 16, 2017 3:33pm
Quoting Pandakker
{quote} Hi, I can understand that my trade is wrong. But i posted earlier this morning my trading plan. (Post #7,506), then later today I read your Post about first posting trading plan, then the entry and at last the evaluation. So after reading that, I posted my entry which I took earlier. So I'm not sure what I did wrong related to the order of posting on this thread.
I know - but you also stated:

"Notes for readjustments:0800 CET: Market went further down and missed my entry."

So in the future make the posting in the order stated so we know what you are doing. As of know I have no idea how you traded your plan. I also suggest to use the EST time table so it will be easier to see it in your time zone. Thank you.
The Dove - Forex Trainer
  • #7,530
  • Jan 16, 2017 3:35pm Jan 16, 2017 3:35pm
Quoting Clip75
Anybody know why the spread has increased so much and market behaving weird. I can't find any news at all. Usually the spread increases after 1700 and it's only 1620 est.
Chris -- it has been told to you why the spread happens towards the closing and opening of each day. If you missed it then go back and find it.
The Dove - Forex Trainer
  • #7,531
  • Jan 16, 2017 3:43pm Jan 16, 2017 3:43pm
[quote=dove_alliance;9445296]{quote} Chris -- it has been told to you why the spread happens towards the closing and opening of each day. If you missed it then go back and find it.[/quote
Ok thanks, I just didn't think it could happen an hour before and market usually slows a little before close and the spread was dancing around like crazy. Normally I see the spread rise around 1700 and after but not an hour before. I guess I have lots to learn,.
Behind the curtain's mystic fold The glowing future lies unrolled!!
  • #7,532
  • Jan 16, 2017 3:47pm Jan 16, 2017 3:47pm
OK - one more time:

Between 16:30 ET and 17:00 ET the banks begin cleaning up their trades and spread begins to widen. At 17:00 the spread is at its peak because of the exchange that is happening in that moment. At 17:00:05 the new data is submitted and the Spread then begins to decline until it reaches the call spread for each broker.
The Dove - Forex Trainer
  • #7,533
  • Jan 16, 2017 3:51pm Jan 16, 2017 3:51pm
Quoting dove_alliance
{quote} I know - but you also stated: "Notes for readjustments:0800 CET: Market went further down and missed my entry." So in the future make the posting in the order stated so we know what you are doing. As of know I have no idea how you traded your plan. I also suggest to use the EST time table so it will be easier to see it in your time zone. Thank you.
Ok I understand what you mean.
I will convert my time (european) into EST time table.

For the record. I create my initial plan @ 01.00 EST, then I noticed @ 02.00 EST (0800 CET) that market went further down from resistance. So in my opinion I missed my entry. At 03.00 EST market was at 2Hr purple where I decided to take the entry.
Looks like I chased the market.

I hope this gives a bit more insight.
And I will be more clearer in my postings.

Thanks.
  • #7,534
  • Jan 16, 2017 4:15pm Jan 16, 2017 4:15pm
Quoting Pandakker
{quote} Ok I understand what you mean. I will convert my time (european) into EST time table. For the record. I create my initial plan @ 01.00 EST, then I noticed @ 02.00 EST (0800 CET) that market went further down from resistance. So in my opinion I missed my entry. At 03.00 EST market was at 2Hr purple where I decided to take the entry. Looks like I chased the market. I hope this gives a bit more insight. And I will be more clearer in my postings. Thanks.
Thank you - I now understand clearer where you was at on entry. So now I can comment on your trade:

You missed the original entry but your plan was for the short. And because of being focus you seen the retrace back to Purple and took the trade. And because your focus on the short was correct and staying with the movement - the entry off resistance (Purple) was excellent. A very good trade my friend.

In the future post the process so we can have a better understanding in what you are doing. This also helps you in your evaluation of the trades. This way you can go through your weekly trades and study what was done right; or done wrong; and correct everything that needs correcting. And thank you again for the reply.
The Dove - Forex Trainer
  • #7,535
  • Jan 16, 2017 4:24pm Jan 16, 2017 4:24pm
Dana I'm interested in this long consolidation after the large gap down this morning. I understand the gap down was due to the banks trading over the weekend in what seems to be a downward trend on the daily chart. Was it because there was a bank holiday on Monday so they were getting there trades in early and taking a position before the coming week with the US president taking office on Friday? I don't understand why the market is not moving much or is just lack of liquidity due to no New York session and today being a Monday combined? I would welcome your take on this.
  • #7,536
  • Jan 16, 2017 4:27pm Jan 16, 2017 4:27pm
Quoting dove_alliance
{quote} Thank you - I now understand clearer where you was at on entry. So now I can comment on your trade: You missed the original entry but your plan was for the short. And because of being focus you seen the retrace back to Purple and took the trade. And because your focus on the short was correct and staying with the movement - the entry off resistance (Purple) was excellent. A very good trade my friend. In the future post the process so we can have a better understanding in what you are doing. This also helps you in your evaluation of the trades....
Thank you for the reply.
It is much appreciated.
  • #7,537
  • Jan 16, 2017 4:28pm Jan 16, 2017 4:28pm
If everyone go back and take a look at Pandakker's trading plan you will see he done everything right; including the Adjustment - BUT - did not include his entry on revising his plan for an entry off resistance according with his plan. His plan called for a short Off the 4 Horsemen. He missed the first one but caught the second hit. What made his plan great is NOT deviating from the plan BUT staying with it. This is a good lesson for everyone. If you know your trading plan is good, then stay with it. Do not deviate from your plan.
The Dove - Forex Trainer
  • #7,538
  • Jan 16, 2017 4:31pm Jan 16, 2017 4:31pm
Date: 17/1/17

Daily:
ROMAR - Support
EMA - Resistance
PSAR - Resistance

Check List:
Last MACD 0 crossing – Down
Last EMA Alert Arrow – down
Last DB Attachment – down
Fibo up or down - Down

Notes: the daily is in consolidation. BB and romar in striking distance as support

2 HR:


OPENING PRICE: 120.992
ROMAR - Resistance
EMA – Resistance
PSAR - Resistance

Check List:
Last MACD 0 crossing – down
Last EMA Alert Arrow - down
Last DB Attachment – down, 120.749
Fibo up or down - up

Notes: Smooth and white has crossed purple for the reversal.

1 HR:
ROMAR – Resistance
EMA - Support
PSAR - Support
Check List:
Last MACD 0 crossing – up
Last EMA Alert Arrow – up
Last DB Attachment –
Fibo up or down – up

Notes: Market in Consolidation. BB and romar in striking distance on the daily. 2Hour is set for the reversal. Also, 61.8 fibo currently holding support on the daily.

Entry:
Long: Open Candle above 2 hour ema.
Short: Ema slider on 2H
  • #7,539
  • Jan 16, 2017 4:41pm Jan 16, 2017 4:41pm
Quoting nigpig
Dana I'm interested in this long consolidation after the large gap down this morning. I understand the gap down was due to the banks trading over the weekend in what seems to be a downward trend on the daily chart. Was it because there was a bank holiday on Monday so they were getting there trades in early and taking a position before the coming week with the US president taking office on Friday? I don't understand why the market is not moving much or is just lack of liquidity due to no New York session and today being a Monday combined? I would...
A gap on Sunday's is mostly from the banks cleaning up their trades on the previous Friday. The market actually closes at 16:59 on Friday's. This means if there are bankers had not have their trades clean up by 16:59 - then it rolls over into Sunday's opening. Other times are because of economic releases over a weekend and is registered on Sunday's opening.

The lack of liquidity has nothing to do with roll overs. Sunday's opening does so with a brand new week of data without liquidity.
The Dove - Forex Trainer
  • #7,540
  • Jan 16, 2017 4:52pm Jan 16, 2017 4:52pm
Quoting dove_alliance
{quote} A gap on Sunday's is mostly from the banks cleaning up their trades on the previous Friday. The market actually closes at 16:59 on Friday's. This means if there are bankers had not have their trades clean up by 16:59 - then it rolls over into Sunday's opening. Other times are because of economic releases over a weekend and is registered on Sunday's opening. The lack of liquidity has nothing to do with roll overs. Sunday's opening does so with a brand new week of data without liquidity.
Thank you that is useful to be described again.
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