The Paradox System | Page 483 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

The paradox System 2023 (for beginners) 724 replies

Paradox System: post your entry here 12 replies

Paradox system avg monthly ROR for last 12 months 33 replies

Learning the Paradox System=Set up / Trade Plan / Results Only 1 reply

lets talk about the system called PARADOX 2 replies

Attachments: The Paradox System
Exit Attachments

The Paradox System

  • #9,641
  • May 25, 2017 11:22am May 25, 2017 11:22am
Quoting dove_alliance
{quote} I made a post not long ago explaining how EMA relates with the Purple crossing for either a reversal or slider with the White/Smooth crossing. Apparently you didn't read it. You have to always remember this is about support and resistance - not about Purple/White.
Yep. Got it. Read it but not successfully connecting all the dots. Or again, over complicating and forgetting the forest for the trees. Thanks for the redirection.
  • #9,642
  • May 25, 2017 11:48am May 25, 2017 11:48am
Quoting lightnight4
Shinny, what do you think about my last entry?
Not a lot, because I don't recall you posting a plan. You did post a chart, and underneath that a few words, but I'd hardly call that a plan.

Short cuts won't work here I'm afraid!

Regards

Shaun
Nobody can be told what The Matrix is. You'll have to see it yourself.
  • #9,643
  • May 25, 2017 11:53am May 25, 2017 11:53am
Quoting dove_alliance
{quote} OK Retrogue - excellent trade but your Evaluation sucks. You need to write the reason why it was a winner for future reference. There are trader that are now using your entry for their live account and it is time for you start posting your plans after the fact. So do what you normally do with creating your plan, create a screen shot of your entry and self evaluation - but make the posting after the trade is completed. This is done with either a winner or a loser. In other words; do it the way Shaun or Chad does it. This will will stop traders...
Hi Retrogue

I hope you realise you had some big compliments there from our teacher!

" OK Retrogue - excellent trade but your Evaluation sucks." - an absolute classic right there of Dana's teaching. Some faint hearted people can't handle that, but the market is more brutal than Dana will ever be, tough love if you like.

Cheers

Shaun
Nobody can be told what The Matrix is. You'll have to see it yourself.
  • #9,644
  • May 25, 2017 3:18pm May 25, 2017 3:18pm
Retrogue,

Great job, nice plan and great trade, well done!

Chad
  • #9,645
  • May 25, 2017 3:31pm May 25, 2017 3:31pm
Shaun and Chad, thank you for all your help, advice and patience. You guys spend so much of your free time helping us and with everyone of your postings I get more determined to suceed with Dove's Paradox.
Never Give Up
  • #9,646
  • May 25, 2017 3:58pm May 25, 2017 3:58pm
Quoting miau1
I decided I will start sharing my trading plans again, still not 100% where I want to be -at all- but Tom's results inspired me to do it. Tonight didn't make a trading plan because my brain was fried, but after lunch with fresh mind I saw a possible chance forming before starting to study and made the trading plan & entry: # 127 Date - 25/05/2017 D1: (Purple balance: Down under 50 pips) ≈ balanced ROMAR - Support EMA - Support PSAR - Support Check List: Last EMA Alert Arrow - Up Last MACD 0 crossing - Down Last SAR/DB Attachment - Top Fibonacci...
Let me give you an evaluation with your entry. What you you did not mention on the H2 Balance was: "It could retrace to Purple for a connection - or go sideways to connect". Going sideways give the H2 an opportunity for a parabolic flip. If this does not get lower/low your trade could be fine. Only time will tell. Your entry going long was in the beginning of a change of swing; for either a slider or a reversal. In other words; your entry was at risk when you pulled the trigger. You needed to wait until the risk is gone.

I hope this helps you to remember.
The Dove - Forex Trainer
  • #9,647
  • May 25, 2017 4:11pm May 25, 2017 4:11pm
Quoting miau1
Notes for readjustments: H2 MACD is down in the moment of the entry but anyway is not in the right place to pose a big threat against the operation. After entering, EMA arrow appeared with alarm on my favor.
One other thing is your Notes for readjustment: Your entry was below EMA with a Red arrow. That alone is showing a risk for going long. I'm trying to point out issues with your trade so you can readjust your thinking.
The Dove - Forex Trainer
  • #9,648
  • May 25, 2017 4:12pm May 25, 2017 4:12pm
Quoting dove_alliance
{quote} Let me give you an evaluation with your entry. What you you did not mention on the H2 Balance was: "It could retrace to Purple for a connection - or go sideways to connect". Going sideways give the H2 an opportunity for a parabolic flip. If this does not get lower/low your trade could be fine. Only time will tell. Your entry going long was in the beginning of a change of swing; for either a slider or a reversal. In other words; your entry was at risk when you pulled the trigger. You needed to wait until the risk is gone. I hope this helps...
Thanks a lot, I'll add that. I already wrote part of my self-evaluation right after the entry because detected failures and checked why/how they happened, this is what I have so far:

Self-evaluation: I’m not happy at all with my trading plan, is messed up with the top/bottom descriptions because of two reasons: first, I tend to mistake English words for top/bottom half of the times and have to double check (don’t ask me why), and second and much more important: I was switching charts to compare S/R levels between D1 and H2, and in some point while writing about the DB/SAR on both timeframes I mixed both charts, this is a big one! Must really pay more attention while switching timeframes and do it with more order.
So, lack of attention while writing it, and made the big mistake of not re-reading it before the entry because I was short on time, only did it after the entry. Never again, being short of time and trying to rush was the cause of the plan being wrong.
However, my entry would have been the same despite the top/bottom error.
"Know thyself."
  • #9,649
  • May 25, 2017 4:14pm May 25, 2017 4:14pm
Quoting dove_alliance
{quote} One other thing is your Notes for readjustment: Your entry was below EMA with a Red arrow. That alone is showing a risk for going long. I'm trying to point out issues with your trade so you can readjust your thinking.
Yes, the readjustments were made after the entry, maybe 5 minutes after, so I didn't forget what happened in the market. Will note both Purple sideways balance (same that happened that time in D1!) and EMA arrow against operation being enough (as I considered EMA arrow+MACD arrow in the next candle was enough threat to cancel the entry, and not just EMA arrow alone, or EMA + MACD in not consecutive candle).
"Know thyself."
  • #9,650
  • May 25, 2017 4:24pm May 25, 2017 4:24pm
Quoting miau1
{quote} Yes, the readjustments were made after the entry, maybe 5 minutes after, so I didn't forget what happened in the market. Will note both Purple sideways balance (same that happened that time in D1!) and EMA arrow against operation being enough (as I considered EMA arrow+MACD arrow in the next candle was enough threat to cancel the entry, and not just EMA arrow alone, or EMA + MACD in not consecutive candle).
Try to really contemplate on how Shaun uses the MACD for an entry. If you get a Red arrow entry before the MACD then know that entry is good. The MACD will follow not to far down the line. The same going the other way.
The Dove - Forex Trainer
  • #9,651
  • May 25, 2017 4:44pm May 25, 2017 4:44pm
Quoting dove_alliance
{quote} Try to really contemplate on how Shaun uses the MACD for an entry. If you get a Red arrow entry before the MACD then know that entry is good. The MACD will follow not to far down the line. The same going the other way.
Thanks a LOT Dana for pointing all this up for me, is being extremelly helpful. Also, about how Shaun uses the MACD for entry, I checked it and thought it was correct in regards to the example of entry at the close of the candle 2017.05.09 18h BUT, in the entry candle, MACD was still up there, not in my example. Big difference!

And thank you all the seniors again for your dedication, I'm learning so much and with every mistake I make I learn something new.

Best regards,

Pablo.
"Know thyself."
  • #9,652
  • Edited 5:54pm May 25, 2017 5:17pm | Edited 5:54pm
What of the G7 meetings taking place all day Friday? Too risky to trade at all? Does this equate into a four day long weekend (with Monday a US & GBP holiday)?
  • #9,653
  • May 25, 2017 5:18pm May 25, 2017 5:18pm
Quoting Therapsid
What of the G7 meetings taking place all day Friday? Too risky to trade at all? Does this equate into a four day long weekend (with Monday a US holiday)?
In fact almost three day long! (NFP)

Edit. I meant three day long week.

Regards.
"Know thyself."
  • #9,654
  • May 25, 2017 6:47pm May 25, 2017 6:47pm
Finally started reading "Trading in the zone" and in chapter 1 it already defines trading as a paradox, and speaks about the mindset and multiple things already discussed on this very thread, is amazing... thanks Shaun for bringing it to us!
"Know thyself."
  • #9,655
  • May 25, 2017 6:50pm May 25, 2017 6:50pm
Quoting miau1
Finally started reading "Trading in the zone" and in chapter 1 it already defines trading as a paradox, and speaks about the mindset and multiple things already discussed on this very thread, is amazing... thanks Shaun for bringing it to us!
Its great Pablo, the further you read the more everything makes sense. I'm about half way through.
Never Give Up
  • #9,656
  • May 25, 2017 9:13pm May 25, 2017 9:13pm
Quoting miau1
{quote} Thanks a LOT Dana for pointing all this up for me, is being extremelly helpful. Also, about how Shaun uses the MACD for entry, I checked it and thought it was correct in regards to the example of entry at the close of the candle 2017.05.09 18h BUT, in the entry candle, MACD was still up there, not in my example. Big difference! And thank you all the seniors again for your dedication, I'm learning so much and with every mistake I make I learn something new. Best regards, Pablo.
Well Pablo - to finish up in what I was saying; the signal was down in what I was showing you and the reasons why is because of the DB on top (going down), the Red EMA arrow down. and if you had waited on resistance such as Smooth on the H2, and the Parabolic on the H1 (which is confluence); you would had one great trade without any risk what-so-ever. One thing you must learn - never pull the trigger if you have any risk. Your risk factor must be at least 15% or less before pulling the trigger. It is always best to be at 0% risk factor before the trigger is pulled. And the only way to be 0% is with confluence.

And you are welcome my friend.
The Dove - Forex Trainer
  • #9,657
  • Edited 6:57am May 26, 2017 1:11am | Edited 6:57am
Good morning everyone.

My trade from last night.

Date: 25-05-2017 21:00 UK time

Daily:
ROMAR - Support
EMA - Support
PSAR - Support

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

Notes: Uptrend. Four horsemen showing uptrend. DB down at the parabolic support. SAR at the top of the daily candle at the top of the fibo showing resistance. Daily is now two candles out of balance with purple.

2 HR:
ROMAR - Support
EMA - Support
PSAR - Resistance

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

Notes: H2 down. Romar is up but the parabolic trend is down. We have white/smooth crossing at purple/ema crossing with a parabolic flip. EMA arrow down then two candles later macd arrow down. H2 is out of balance with purple. SAR attached at the current lowside in this downswing. DB connected with SAR with normal and hidden divergence at the top of the fibo.

1 HR:
ROMAR - Support
EMA - Resistance
PSAR - Resistance

Check List:
Last MACD 0 crossing - down
Last EMA Alert Arrow - down
Fibo down

Notes: H1 down. Parabolic trend down with EMA crossing purple in changing to resistance.

Final Notes for all three charts: We are in consolidation. The daily is up. H2 down. H1 down. The paradox story is telling me this will be a counter Romar trend trade down to H2 Romar support. Signal confirmed on H2 with white at smooth with purple at ema. I will wait for EMA to fully cross purple and for H2 balance with purple to get entry high so there is a +40 gap with spread to TP above or just at H2 Romar support. H2 Sar will turn to DB to take market down to H2 Romar support.

Entry:

Short: Waited on H2 EMA to cross purple and for purple hit for balance. Market pulled up to smooth resistance so took the high entry short. Pulled trigger short set TP 40 SL 40.


Evaluation:

+40 TP hit. The signals came in as per the Paradox rules. I was a little nervous about SAR not going lower low for a while and the 50 fib, but the paradox story told me DB was going down so I was confident in pulling the trigger. I am really trying to work on patience and to wait and get in right at the edge of support or resistance and on this trade I got in right at smooth resistance once balance and been hit with purple.

That's it from me, I'm done for the week now. Enjoy the bank holiday everyone.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: H2 entry.JPG Size: 202 KB
Click to Enlarge Name: result.JPG Size: 202 KB
Never Give Up
  • #9,658
  • May 26, 2017 1:27am May 26, 2017 1:27am
Quoting lightnight4
{image} Daily: romar, ema, purple up H2: romar, ema, purple up H1: romar ema, purple up Trend is down by DB, going down. So it is confusing.. up per romar, ema , purple, down by DB. It is a trend, entering trend at opening h2..using purple is support, approximately.
It looks thjat I did not take into account the possiblity of change of the swing.
  • #9,659
  • May 26, 2017 2:49am May 26, 2017 2:49am
Trade result: -40 pips.

Self-evaluation: I’m not happy at all with my trading plan, is messed up with the top/bottom descriptions because of two reasons: first, I tend to mistake English words for top/bottom half of the times and have to double check (don’t ask me why), and second and much more important: I was switching charts to compare S/R levels between D1 and H2, and in some point while writing about the DB/SAR on both timeframes I mixed both charts, this is a big one! Must really pay more attention while switching timeframes and do it with more order.
So, lack of attention while writing it, and made the big mistake of not re-reading it before the entry because I was short on time, only did it after the entry. Never again, being short of time and trying to rush was the cause of the plan being wrong.
However, my entry would have been the same despite the top/bottom error.
The entry was risky and therefore the trade was wrong, and the best I could do considering my trading plan was waiting and make readjustments, for multiple reasons that summed up a confluence big enough to make risk above the minimum 15% making my operation somewhat of a gamble:
-EMA arrow against me in the moment of the entry.
-MACD was down in the open candle I entered (even if not after the EMA candle, is another bad confluence).
-The open of the candle I entered was under EMA.
-The DB was on the top (Note for my future self: yes, TOP!), and I detected we started a consolidation and a ROMAR ranging in D1 so was not trend anymore and therefore another confluence against me to take into account.

This was enough to at least wait. If I had waited, would have seen EMA was not in a slider and therefore cancel any entry until next trading plan (No shorts allowed on the current trading plan), avoiding the loss and taking the profit.

Attached Image (click to enlarge)
Click to Enlarge Name: 127b.png Size: 403 KB
"Know thyself."
  • #9,660
  • May 26, 2017 2:55am May 26, 2017 2:55am
Quoting miau1
Trade result: -40 pips. Self-evaluation: Im not happy at all with my trading plan, is messed up with the top/bottom descriptions because of two reasons: first, I tend to mistake English words for top/bottom half of the times and have to double check (dont ask me why), and second and much more important: I was switching charts to compare S/R levels between D1 and H2, and in some point while writing about the DB/SAR on both timeframes I mixed both charts, this is a big one! Must really pay more attention while switching timeframes and do it with more...
I think I didn't skip anything, did I?

Regards.
"Know thyself."
29 traders viewing now