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Attachments: The Paradox System
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The Paradox System

  • #9,221
  • May 8, 2017 2:43pm May 8, 2017 2:43pm
Last EMA is showing a slider with the bands flat lined and indicators compressed.

What is the Rule for an entry with this scenario?

taking the easy one . no snapshots guys but pretty straight forward.

The Bollinger Bands are also a deadly weapon during consolidation; it will do one of two things when the market hits the bands. It will either retrace back to EMA or retrace back to the opposite band; this happens when the bands are flat which places the market in consolidation. If you do get a hit on one of the bands during consolidation then get in and take profit at least to EMA

In a downtrend is a different story. Once the band is hit retrace are generally to Purple, White, or Smooth. When it gets ready to turn then the market will hit EMA and go into consolidation.

On an uptrend retraces off the band are generally to EMA for profit.

hopefully correct
Stop killing our Oceans, Stop using single use plastics.
  • #9,222
  • May 8, 2017 3:06pm May 8, 2017 3:06pm
Hello Traders

As Dana already stated, there has been a number of opportunities today. You could have traded short from the Upper BB, Long from the 2hr EMA/PSAR or Long from Daily Smooth (as I did). Each one of those trades is within the rules of the system.

Here is a 2hr screenshot. The first 2 arrows are entries at the open of that bar, the last one is the one I took. I waited for a positive bar from Daily Smooth, with the DB and Divergence attached:

Attached Image (click to enlarge)
Click to Enlarge Name: ej 8 may 2017.jpg Size: 401 KB


Attached Image (click to enlarge)
Click to Enlarge Name: ej print 8 may 2017.jpg Size: 7 KB


I was slightly late with my entry as I was busy with something else, but I still managed to get +40.

When you do your plans, remember that there is a reason for doing the Daily 1st. Trading with the Daily is the easiest way to make 40 pips per day. You have basically had since the 18th of April, after Market closed above Daily Smooth to attack the trend long, with the occasional pullback for a short back into support.

I can see that a lot of you are getting it or are very close to doing so, so remember that in trading in general, and in The Paradox in particular, there is a very thin line between success and failure. But the good thing is its very black and white - we either are profitable or we arent. So we are under no illusions about what we need to do to improve.

Anything in life worth doing is worth persisting with. You have to learn to shake of the knocks trading throws at you and keep on going. Thats why they say that successful traders are only 5% - because you need to have a thick skin and be resilient to succeed.

I'm willing you on to do it, as Dana obviously is too.

Hope that helps.

Shaun
Nobody can be told what The Matrix is. You'll have to see it yourself.
  • #9,223
  • May 8, 2017 3:17pm May 8, 2017 3:17pm
Quoting shinny
Hello Traders As Dana already stated, there has been a number of opportunities today. You could have traded short from the Upper BB, Long from the 2hr EMA/PSAR or Long from Daily Smooth (as I did). Each one of those trades is within the rules of the system. Here is a 2hr screenshot. The first 2 arrows are entries at the open of that bar, the last one is the one I took. I waited for a positive bar from Daily Smooth, with the DB and Divergence attached: {image} {image} I was slightly late with my entry as I was busy with something else, but I still...
Thank you Shaun for inspiring us all!
Dreamer
  • #9,224
  • May 8, 2017 5:51pm May 8, 2017 5:51pm
Thank you Shinny for your comments and one that you have made has particularly resonated with my thoughts over the last few tumultuous months...
So we are under no illusions about what we need to do to improve.

Thus, we either do or do not. There is no in-between. No "maybe" this; "perhaps" that. It's a simple process to self assess and make appropriate adjustments according to knowledge levels. Yours and Dove's and others guidance is much appreciated in this endeavour.

One thing all us juniors are have troubling us is that every scenario has it's own attributes - and mark my words...this is not to be used as an excuse - this is a new behaviour of observation and then of taking action and one that we all have to learn as well as come to terms with - however, all trades are all still within the rules. So simple, not hard. I'm finding it a balancing act so far and drop everything onto my juggling circus performer head quite often.

So us juniors... we will get there - because it's similar to learning how to ride a bike. When we let our failures fall off from our thin skins we tend to improve ten fold. We have all seen this before in our past experiences and it comes as absolutely no surprise to us at all. So we will continue in the same vain. Stumble get up. Stumble get up. We will reach the top of the mountain even if we have to crawl up it through the mud and rain, over the boulders, being swept back by the avalanches or avoiding the man eating predators and the thunder and lightening.

There is NO DOUBT in our inevitable success here, nor the obvious high community spirit.

There are no illusions in this at all. Keep your heads up good people.
If you make up your own rules then the story is sad.....
  • #9,225
  • May 8, 2017 5:53pm May 8, 2017 5:53pm
& Again

Date: EURJPY 0800 Sydney Time
CHECK NEWS RELEASE BEFORE TRADING Yes
- if No...... STOP .....do not proceed with Plan
Daily:
ROMAR - Support
EMA - Support
PSAR - Support
Check List:
Last MACD 0 crossing Up
Last EMA Alert Arrow Up
Last DB Attachment 124.400
Fibo up or down Down
Notes: Full Up Trend
2 HR:
OPEN PRICE - 123.677
ROMAR - Support
EMA - Resistance
PSAR - Resistance
Check List:
Last MACD 0 crossing Up
Last EMA Alert Arrow Down
Last DB Attachment 122.974
Fibo up or down Down
Notes: Consolidation. Purple x Smooth. SAR on Parabolic
ROMAR Up Trend.
1 HR:
ROMAR - Support
EMA - Support
PSAR - Support
Check List:
Last MACD 0 crossing Up
Last EMA Alert Arrow EMA
Last DB Attachment N/A on 1hr charts
Fibo up or down Down
Notes: Full Up Trend
Market News. 14hrs
Have i double checked all of the above Yes or No. If No stop & go do it.
Yes - rules for
Final Notes: Daily Full Up Trend. H2 Consolidation - ROMAR Support. H1 Full Up Trend.

Entry: Long off EMA cross Purple + Smooth cross White, PSAR flip or MACD up arrow
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Daily EURJPY 2017-05-09 at 7.56.58 am.png Size: 114 KB
Click to Enlarge Name: H2 EURJPY 2017-05-09 at 7.57.11 am.png Size: 132 KB
If you make up your own rules then the story is sad.....
  • #9,226
  • May 8, 2017 6:21pm May 8, 2017 6:21pm
Quoting shinny
Hello Traders As Dana already stated, there has been a number of opportunities today. You could have traded short from the Upper BB, Long from the 2hr EMA/PSAR or Long from Daily Smooth (as I did). Each one of those trades is within the rules of the system. Here is a 2hr screenshot. The first 2 arrows are entries at the open of that bar, the last one is the one I took. I waited for a positive bar from Daily Smooth, with the DB and Divergence attached: {image} {image} I was slightly late with my entry as I was busy with something else, but I still...
Do you feel like I'm almost there? I hope you see me trying hard.
"Cast your burden upon the Lord and He will sustain you"
  • #9,227
  • May 8, 2017 6:57pm May 8, 2017 6:57pm
[quote=shinny;9843262]Hello Traders As Dana already stated, there has been a number of opportunities today. You could have traded short from the Upper BB, Long from the 2hr EMA/PSAR or Long from Daily Smooth (as I did). Each one of those trades is within the rules of the system. Here is a 2hr screenshot. The first 2 arrows are entries at the open of that bar, the last one is the one I took. I waited for a positive bar from Daily Smooth, with the DB and Divergence attached: {image} {image} I was slightly late with my entry as I was busy with something else, but I still managed to get +40. When you do your plans, remember that there is a reason for doing the Daily 1st. Trading with the Daily is the easiest way to make 40 pips per day.

Hi Shinny,
I was on a slight tangent from your thought processes and seek to align things more appropriately in regards to the trade you took and the one i didn't (both the one and the same you describe above).
What i allowed myself to be distracted with was a gap of 30+ pip from ROMAR at the DB on the H2. Think twice (observe more closely) before going against the DB is what i have conditioned myself to do at the moment. I had absolutely noticed the hit on Daily Smooth and felt hesitation. If i think for more than 30 seconds on anything i usually defer to not going ahead. i think i have seen in the past a slight dip on the Daily Smooth before a retracement back to it's S/R - the source of my hesitation and could easily be faulty observation. The concern i had at the time was the gap i had interpreted between the Daily Smooth and the H2 ROMAR with the DB was too close and thus thought it as a risk unless a hit on ROMAR for a Long or wait till close of Daily candle for reassess.

Your demonstration has helped clarify things a little further in using Divergence for confluence.
Thank you.
If you make up your own rules then the story is sad.....
  • #9,228
  • May 8, 2017 7:04pm May 8, 2017 7:04pm
[quote=OliveBranch;9843641]& Again Date: EURJPY 0800 Sydney Time CHECK NEWS RELEASE BEFORE TRADING Yes - if No...... STOP .....do not proceed with Plan Daily: ROMAR - Support EMA - Support PSAR - Support Check List: Last MACD 0 crossing Up Last EMA Alert Arrow Up Last DB Attachment 124.400 Fibo up or down Down Notes: Full Up Trend

Entry open Candle
Attached Image (click to enlarge)
Click to Enlarge Name: H2 EURJPY Entry 2017-05-09 at 10.02.56 am.png Size: 134 KB
If you make up your own rules then the story is sad.....
  • #9,229
  • May 8, 2017 7:16pm May 8, 2017 7:16pm
Help, please!

This system looks really good. I just want to make sure I've got it set up correctly? Here in the UK we're currently in EST (+1 GMT). My broker works in GMT. I did try -1 in the sessions indicator offset but the Sydney Open Time was 16:00GMT which is incorrect. If I change the offset to 5, it moves it to the correct opening time of 22:00GMT.

However, +5 doesn't seem right to me? It also pushes the start time of the Tokyo session to 00:00GMT when it should be 23:00GMT? Could someone please let me know which figure I need to be putting in to get everything working correctly? Here's a screenshot of the +5.

Any help would be greatly appreciated please.

Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy-h1-safecap-investments-ltd-2.png Size: 38 KB
  • #9,230
  • May 8, 2017 7:56pm May 8, 2017 7:56pm
Quoting plymgary
Help, please! This system looks really good. I just want to make sure I've got it set up correctly? Here in the UK we're currently in EST (+1 GMT). My broker works in GMT. I did try -1 in the sessions indicator offset but the Sydney Open Time was 16:00GMT which is incorrect. If I change the offset to 5, it moves it to the correct opening time of 22:00GMT. However, +5 doesn't seem right to me? It also pushes the start time of the Tokyo session to 00:00GMT when it should be 23:00GMT? Could someone please let me know which figure I need to...
You need to go back and read the whole set up - plus - in using the right broker for a demo.
The Dove - Forex Trainer
  • #9,231
  • May 8, 2017 7:59pm May 8, 2017 7:59pm
Quoting dove_alliance
{quote} You need to go back and read the whole set up - plus - in using the right broker for a demo.
Thanks very much. I have read it lots of times (on page 2 of this thread) which is why I was thinking it would be -1 due to me being in BST and the broker in GMT? Sorry, but I'm just not sure of the correct setting.

I'm not sure what you mean by "in using the right broker for a demo"?

Thanks for your reply though.
  • #9,232
  • May 8, 2017 8:27pm May 8, 2017 8:27pm
Quoting plymgary
{quote} Thanks very much. I have read it lots of times (on page 2 of this thread) which is why I was thinking it would be -1 due to me being in BST and the broker in GMT? Sorry, but I'm just not sure of the correct setting. I'm not sure what you mean by "in using the right broker for a demo"? Thanks for your reply though.
The sessions are in EST and not in your time zone. In other words the actual Daily Candle is produced at 17:00 EST. The MT4 does not follow the rules with its platform so the Daily is not ever correct on the H2 or the Daily charts; but are correct on the H1. You have Eastern Daylight Savings Time and Eastern Standard Time. We are now on Daylight Savings Time. So - you set the H1 with the 17:00 sydney, and the gmtServerOffset at 5. The H2 you set the gmtServerOffset with
4, and the sydney 16:00.

Your broker - the Paradox is filtered with a data for 6 weekly bars instead of 5. If your broker's platform does not open exactly at 17:00 EST - then you are wasting your time in learning the Paradox. It will not work properly. So keep reading and you will find out why.
The Dove - Forex Trainer
  • #9,233
  • May 8, 2017 8:29pm May 8, 2017 8:29pm
Quoting dove_alliance
{quote} The sessions are in EST and not in your time zone. In other words the actual Daily Candle is produced at 17:00 EST. The MT4 does not follow the rules with its platform so the Daily is not ever correct on the H2 or the Daily charts; but are correct on the H1. You have Eastern Daylight Savings Time and Eastern Standard Time. We are now on Daylight Savings Time. So - you set the H1 with the 17:00 sydney, and the gmtServerOffset at 5. The H2 you set the gmtServerOffset with 4, and the sydney 16:00. Your broker - the Paradox is filtered with...
Thanks so much.
  • #9,234
  • May 9, 2017 1:30am May 9, 2017 1:30am
Quoting dove_alliance
{quote} The sessions are in EST and not in your time zone. In other words the actual Daily Candle is produced at 17:00 EST. The MT4 does not follow the rules with its platform so the Daily is not ever correct on the H2 or the Daily charts; but are correct on the H1. You have Eastern Daylight Savings Time and Eastern Standard Time. We are now on Daylight Savings Time. So - you set the H1 with the 17:00 sydney, and the gmtServerOffset at 5. The H2 you set the gmtServerOffset with 4, and the sydney 16:00. Your broker - the Paradox is filtered with...
Hello Dana.
I got a question. There are other platforms with other brokers that have Daily candles open at 17:00 EST, but they have 5 Daily candles with little Sunday one being merged with Monday candle. I know that Paradox is set up for 6 candles. But, I wonder if 5 Daily candles which open at 17:00 EST is the most correct data?
Dreamer
  • #9,235
  • May 9, 2017 1:32am May 9, 2017 1:32am
Quoting OliveBranch
Quoting shinny
Hello Traders As Dana already stated, there has been a number of opportunities today. You could have traded short from the Upper BB, Long from the 2hr EMA/PSAR or Long from Daily Smooth (as I did). Each one of those trades is within the rules of the system. Here is a 2hr screenshot. The first 2 arrows are entries at the open of that bar, the last one is the one I took. I waited for a positive bar from Daily Smooth, with the DB and Divergence attached: {image} {image} I was slightly late with my entry as I was busy with something
...
Hello

The reasons you stated is why I waited for a reaction from the Daily Smooth - because of 2hr ROMAR. Looking at the Daily, the next support was EMA, which was 115 pips away from Smooth. The market had already dropped 140+ pips from the Upper BB, so it was likely to run out of steam. Smooth is very important on the Daily chart. And although I don't use the 1hr for trading, I use it occasionaly for reference and the market, and my entry was around the 1hr ROMAR as Support.

Hope that helps!

Shaun
Nobody can be told what The Matrix is. You'll have to see it yourself.
  • #9,236
  • May 9, 2017 1:35am May 9, 2017 1:35am
Quoting tullegate
{quote} Do you feel like I'm almost there? I hope you see me trying hard.
Hello

Yes everybody can see your trying hard. And effort and heart usually pay off in the end. Just keep studying and paying attention to Dana's words and practice and you'll get there!

Shaun
Nobody can be told what The Matrix is. You'll have to see it yourself.
  • #9,237
  • May 9, 2017 2:46am May 9, 2017 2:46am
Quoting shinny
{quote}{quote} Hello The reasons you stated is why I waited for a reaction from the Daily Smooth - because of 2hr ROMAR. Looking at the Daily, the next support was EMA, which was 115 pips away from Smooth. The market had already dropped 140+ pips from the Upper BB, so it was likely to run out of steam. Smooth is very important on the Daily chart. And although I don't use the 1hr for trading, I use it occasionaly for reference and the market, and my entry was around the 1hr ROMAR as Support. Hope that helps! Shaun
Yes Shaun - this has helped tremendously. I was itching for a long off Daily Smooth. Attempting to be less trigger happy. I had not looked at H1 for referencing in this scenario and is the reason for my failure yesterday. You bring up a good point and a valuable lesson for all.
Thank you.

Oli
If you make up your own rules then the story is sad.....
  • #9,238
  • May 9, 2017 2:59am May 9, 2017 2:59am
Quoting OliveBranch
& Again Date: EURJPY 0800 Sydney Time CHECK NEWS RELEASE BEFORE TRADING Yes - if No...... STOP .....do not proceed with Plan Daily: ROMAR - Support EMA - Support PSAR - Support Check List: Last MACD 0 crossing Up Last EMA Alert Arrow Up Last DB Attachment 124.400 Fibo up or down Down Notes: Full Up Trend .......... Entry: Long off EMA cross Purple + Smooth cross White, PSAR flip or MACD up arrow {image} {image}
Evaluation: All of the entry requirements were observed at open candle. PT as per plan. TP40
Attached Image (click to enlarge)
Click to Enlarge Name: H2 EURJPY Final 2017-05-09 at 5.53.48 pm.png Size: 130 KB
If you make up your own rules then the story is sad.....
  • #9,239
  • May 9, 2017 3:00am May 9, 2017 3:00am
Hello Traders

I'd just like to share my EJ trade with you today and how you can use the 1hr chart to take advantage of a breakout of momentum within the Paradox System.

Here is the 1hr Chart:

Attached Image (click to enlarge)
Click to Enlarge Name: ej 1hr 090517.jpg Size: 257 KB


The arrow is my entry at the Open of this bar. On the open of this bar, the market had tested 2hr Smooth and bounced slightly, and the 1hr Purple was opening up from 1hr White - indicating a move North. If you look at the 1hr market action before then, it is very constricted. So my plan was to use the 1hr to enter midway through the 2hr bar, as a breakout entry using the 2hr chart would have been too late. I said earlier that I rarely use the 1hr chart, but this is one of the situations where I do use it to get ahead of the 2hr.

Here is the 2hr Chart showing the test of Support at Smooth:

Attached Image (click to enlarge)
Click to Enlarge Name: ej 2hr 090517.jpg Size: 416 KB


This was a very quick trade, around 45 minutes, which isn't surprising given it was a breakout back into the Daily Trend. The SAR was attached on its own before the market pushed up and the DB/SAR and Magenta attached to confirm the direction.

Here is the Result print from my broker:

Attached Image (click to enlarge)
Click to Enlarge Name: ej print 090517.jpg Size: 8 KB


I hope you can see how you can use the 1hr, not as a trading chart, but as a means of entering in certain scenarios enabling you to get the best possible entry price.

Hope that helps!

Shaun
Nobody can be told what The Matrix is. You'll have to see it yourself.
  • #9,240
  • May 9, 2017 3:05am May 9, 2017 3:05am
Quoting OliveBranch
{quote} Evaluation: All of the entry requirements were observed at open candle. PT as per plan. TP40 {image}
Good morning, congratulations
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