Random Walk (The unbeatable!)

Quoting forexcentric

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{quote} With this, I think I got it all ... Thank you, GoldTheHun!

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Quoting RapzyFX

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{quote} Dear GTH, Thank you very much for this unique trading approach which has brought up nice ideas and concepts. I made a mistake though and got a loss -- still learning. Got in again with profit now. Thanks once again. I would like also to ask if you could adjust this Indicator to work on larger TF's mainly because I really dont trade 5min TF and I believe some others here may have same concerns. Please help. Best Regards T

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Quoting amoc

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hello GoldTheHun, please i have some questions i would like you t help me with answers 1) as shown in the attached chart, when price touches 23.6 on fibo i would go long with TP at D1 Res 0 and the opposite when price touched 78 on fibo...my fibo doesnt show 78% i want to know if you readjusted your fibo from the default? 2) How does one determine the SL does it go to the D1 res 0 for shorts and D1 Sup for longs? 3)what are the criteria to enter a trade when price hit 23% or 78% thanks for your time and sharing your system {image}

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Quoting GoldTheHun

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{quote} Thank you for your positive comments. You really don't have to trade the 5 minute TF, these levels are just calculated on 5 minute TF thats all. You can use any time frame you like, as long as you know these levels. Also youcan use the weekly levels with the same logic if you like higher time frames. Hope this helps.. Good Luck...

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Quoting RapzyFX

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{quote} Ohh Owkayy! Thanks man I thought that way because you said in one of your posts that the indi worked only on the 5min TF. Now I get it, you meant it only executes correctly on the 5min TF but the levels can be traded on any TF. Thanks a lot for your speedy responses to all posts. Just as a side note, why did you give it the name "The Unbeatable". Gets me really curious. Will be posting my trades from tomorrow (Thursday). Best Regards T

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Quoting GoldTheHun

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{quote} Here are the answers to your questions within my capabilities: 1. You double click the Fibo tool on chart, right click on it to see the Fibo properties and add 78 as a new level. 2. I couldn't understand the question, pls clarify.. 3. Depending how you determine the direction of the trend. There is no clear cut method, every trader has their own opinion of the direction of the trend. If you believe the potential is on the long side enter long, if you believe the potential is on the short side, enter short. Just one direction per day though,...

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Quoting amoc

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{quote} What i meant for question 2 was if i took a buy trade at fibo23% level, should my SL be at the D1 Sup 0 and a sell trade at 78% fibo level should my SL be at the D1 Res 0 {image}

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Quoting Go5

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GTH, thanks for this "tame the drunken sailor" approach. About your indicator: it seems to be very reluctant to refresh itself when changing the symbol (needs a change of timeframe to refresh), is this normal?

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Quoting Rammstein73

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So, when we follow this method, we need a deep retraces of trends to do buy or sell. But good, strong trend never has deep retraces, and we will never get in it. And we will take only weak trend, which tends to get flat or even return. I see a big problem in that all.

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Quoting Rammstein73

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And I see one more big problem. It's highly risky to use limit orders by that method, cause we set theese orders frequently against 1H-trend, it's very dangerous. We need some warranty that our limit orders wil be activated by spykes, not by trend move.

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Quoting Rammstein73

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So, when we follow this method, we need a deep retraces of trends to do buy or sell. But good, strong trend never has deep retraces, and we will never get in it. And we will take only weak trend, which tends to get flat or even return. I see a big problem in that all.

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Quoting GoldTheHun

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{quote} Here is a trade I took today. By the way I only trade futures, with a futures broker. I also use MT4 for technical analysis and coding of indicators. We were only 40 minutes into the live trading session of emini sp500. The priceaction already hit the W1Sup0, with the daily range already 20 (generally hovers around 14.5). With still 4 hours to go in the session this upward thrust could not have gone on. So I shorted at W1Sup0. I have put the take profit at D1Res0 (which is Fib 100). As you see on the pic it worked perfectly. If the price...

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Quoting Rammstein73

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{quote} Thank you for your explanation, GoldTheHun. As we see, "trading system" is much more than just "RW-SupportResistanceALL" on our chart. System needes rules, ok? But "as long you feel the market conditions at all time" - is not rule, this is your own method. So we can't use it in our trading :-) So, formally, there is no system in your thread. Just for truth :-). But, thank you for share with us your method and good luck to you too!

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Quoting RapzyFX

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Hi Guys, I need some help here pls. I can't view the inicator lines/levels on the 5Min chart because they seem to be too wide apart to be captured with the frame. Except on the 30M, H1 charts and that's after fully zooming out. But I can see some post here with 5Min chart showing the levels and without fully zooming out. What am I to do pls. Thanks T

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Quoting GoldTheHun

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{quote} Thank you for the good wishes and honest view. Exactly like you said this is not a "system", this is a statistically proven tool. Just like any other tool. It is up to the trader to use it the way he or she likes to make use of it.

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