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The Paradox System

  • #9,701
  • May 29, 2017 5:29pm May 29, 2017 5:29pm
Quoting pradel
{quote} Okay Sir, I was just about to post it. Here is my H2 chart showing the entry. {image}
TP hit, 40 pips
Evaluation:
I think i entered the trade too early as the H1 ema slider didnt take the market downtrend. I should have entered instead with the hit on H1 BB and DB attachment on H2.
  • #9,702
  • May 29, 2017 6:01pm May 29, 2017 6:01pm
Quoting pradel
{quote} TP hit, 40 pips Evaluation: I think i entered the trade too early as the H1 ema slider didnt take the market downtrend. I should have entered instead with the hit on H1 BB and DB attachment on H2.
OK Pradel - There was a big issue with your entry.

1. At the bottom when you entered
2. D/B and SAR on the bottom.

With these two scenario you had entered a short being at risk. You had your SL just below ROMAR resistance which placed you even at a greater risk. The only thing that had saved you was the DB attaching before your SL was hit. The DB on the upside was entry for the short being at resistance instead of at support where you made your entry going short.

I hope this helps you in seeing your mistake as for support/resistance.
The Dove - Forex Trainer
  • #9,703
  • May 29, 2017 6:05pm May 29, 2017 6:05pm
Quoting dove_alliance
{quote} OK Pradel - There was a big issue with your entry. 1. At the bottom when you entered 2. D/B and SAR on the bottom. With these two scenario you had entered a short being at risk. You had your SL just below ROMAR resistance which placed you even at a greater risk. The only thing that had saved you was the DB attaching before your SL was hit. The DB on the upside was entry for the short being at resistance instead of at support where you made your entry going short. I hope this helps you in seeing your mistake as for support/resistance.
One other mistake is trading the H1 instead of the H2. The H1 is only a reference chart for the H2 trading chart..
The Dove - Forex Trainer
  • #9,704
  • May 29, 2017 6:05pm May 29, 2017 6:05pm
Quoting SolitudeFx
Hi everyone, Trading plan for May 28 Daily: - Romar, ema, and parabolic are support - both ema and macd arrows down - fibo is red - bollinger bands flat - last db on bottom, next connection on top - sar above as resistance and possible reconnection with db for higher high 2 HR: - Romar, ema, and parabolic all resistance but we are in consolidation and parabolic eliminated with purple white crossing. - ema and macd close to coming in for long - green fib - db with sar and divergence at 0 fib. Sar attached 1 HR: - Romar, and ema resistance but parabolic...
-40 pips.
Ok I believe I need to do a self evaluation now according to the rules. I have no idea what I'm doing so bear with me.

1: I entered long and not off support which was daily psar. had I entered exactly at support I may have squeezed 40 pips.
2: the market came up and I was up 20-30 pips but then there was red eur news which dragged the market down.
3. I should have exited before the news with 25 pips profit before red news.
4. I left it running and was stopped out.

Not sure what else I can say. My mistake was entering to high off the fib flip and not exiting on red news. I would really appreciate any feedback.
The quieter you become, the more that you can hear.
  • #9,705
  • May 29, 2017 6:07pm May 29, 2017 6:07pm
Bollinger Bands are only used on the H2 chart, as I understand.
  • #9,706
  • May 29, 2017 6:12pm May 29, 2017 6:12pm
...which is what I see happening now. EURJPY H2 chart. Lower Bollinger Band hit, however, I need to revisit my notes as to where price will retrace now.

edit: Found it. In consolidation, which is what EURJPY is in currently, take profit is at the EMA when price hits either band. Consolidation is indicated by the tight Paradox Bands, as well as Daily ROMAR being support, but H2 and H1 ROMAR being resistance.
  • #9,707
  • May 29, 2017 6:15pm May 29, 2017 6:15pm
Quoting Nikitafen
...which is what I see happening now. EURJPY H2 chart. Lower Bollinger Band hit, however, I need to revisit my notes as to where price will retrace now.
Post your H2 chart because there is no band being hit on the H2.
The Dove - Forex Trainer
  • #9,708
  • May 29, 2017 6:15pm May 29, 2017 6:15pm
Quoting dove_alliance
{quote} OK Pradel - There was a big issue with your entry. 1. At the bottom when you entered 2. D/B and SAR on the bottom. With these two scenario you had entered a short being at risk. You had your SL just below ROMAR resistance which placed you even at a greater risk. The only thing that had saved you was the DB attaching before your SL was hit. The DB on the upside was entry for the short being at resistance instead of at support where you made your entry going short. I hope this helps you in seeing your mistake as for support/resistance.
Thank you very much Sir, Lesson Learnt.
  • #9,709
  • May 29, 2017 6:17pm May 29, 2017 6:17pm
Quoting SolitudeFx
{quote} -40 pips. Ok I believe I need to do a self evaluation now according to the rules. I have no idea what I'm doing so bear with me. 1: I entered long and not off support which was daily psar. had I entered exactly at support I may have squeezed 40 pips. 2: the market came up and I was up 20-30 pips but then there was red eur news which dragged the market down. 3. I should have exited before the news with 25 pips profit before red news. 4. I left it running and was stopped out. Not sure what else I can say. My mistake was entering to high off...
Your biggest mistake was going long against ROMAR resistance trend. Waiting on the ROMAR hit and going short was the trade.
The Dove - Forex Trainer
  • #9,710
  • May 29, 2017 6:17pm May 29, 2017 6:17pm
Sorry for asking this but as there have been numerous discussion on having 39 bars on the chart. I have got a lower resolution monitor now.

Just want someone to make sure the chart looks Ok now.

Thanks for all the help
Attached Image (click to enlarge)
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  • #9,711
  • May 29, 2017 6:18pm May 29, 2017 6:18pm
Quoting dove_alliance
{quote} Post your H2 chart because there is no band being hit on the H2.
You are right - I was looking at something else.
The Dove - Forex Trainer
  • #9,712
  • May 29, 2017 6:20pm May 29, 2017 6:20pm
Quoting dove_alliance
{quote} Your biggest mistake was going long against ROMAR resistance trend. Waiting on the ROMAR hit and going short was the trade.
It did come short of ROMAR because of the DB. Next candle was the entry going short.
The Dove - Forex Trainer
  • #9,713
  • May 29, 2017 6:21pm May 29, 2017 6:21pm
Quoting dove_alliance
{quote} You are right - I was looking at something else.
Phew, okay. I was worried because I spent so much time making sure my charts were correct! That is good to know.
  • #9,714
  • May 29, 2017 6:23pm May 29, 2017 6:23pm
Quoting dove_alliance
{quote} Your biggest mistake was going long against ROMAR resistance trend. Waiting on the ROMAR hit and going short was the trade.
Thank you so much. I'm a little nervous posting plans right now. I hope that I can post a better plan soon. Thank you for your time.
The quieter you become, the more that you can hear.
  • #9,715
  • May 29, 2017 6:23pm May 29, 2017 6:23pm
Quoting newtrojan
Sorry for asking this but as there have been numerous discussion on having 39 bars on the chart. I have got a lower resolution monitor now. Just want someone to make sure the chart looks Ok now. Thanks for all the help {image}
Sorry - but it is not right; check your monitor resolution and be sure it is right.
The Dove - Forex Trainer
  • #9,716
  • May 29, 2017 6:26pm May 29, 2017 6:26pm
Quoting newtrojan
Sorry for asking this but as there have been numerous discussion on having 39 bars on the chart. I have got a lower resolution monitor now. Just want someone to make sure the chart looks Ok now. Thanks for all the help {image}
I have this showing. 39 full bars and half of the 40th one showing.
We're on EURJPY now.
Attached Image (click to enlarge)
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  • #9,717
  • May 29, 2017 6:35pm May 29, 2017 6:35pm
Quoting SolitudeFx
{quote} Thank you so much. I'm a little nervous posting plans right now. I hope that I can post a better plan soon. Thank you for your time.
Continue posting trading plans as that is the only way we can see your mistakes. We will point them out and then you can evaluate the mistakes and correct them.
The Dove - Forex Trainer
  • #9,718
  • May 29, 2017 6:43pm May 29, 2017 6:43pm
Traders - don't get nervous about posting trading plans. At first you may feel you might get humiliated or embarrassed. But let me tell you now. This is your journey and belongs to only you. It matters not what others might think. What does matter is getting it right; and we are here to be sure you do get it right. Then one day you can laugh at those you left behind.
The Dove - Forex Trainer
  • #9,719
  • May 29, 2017 7:39pm May 29, 2017 7:39pm
Quoting dove_alliance
Traders - don't get nervous about posting trading plans. At first you may feel you might get humiliated or embarrassed. But let me tell you now. This is your journey and belongs to only you. It matters not what others might think. What does matter is getting it right; and we are here to be sure you do get it right. Then one day you can laugh at those you left behind.
Thanks Dove!! I hope to get pointed in the right direction. I can't believe you responded to my novice plan. I'm a little overwhelmed.
The quieter you become, the more that you can hear.
  • #9,720
  • May 29, 2017 11:34pm May 29, 2017 11:34pm
This trade, a buy from the candle close where the arrow is pointing did not work out. In the rules it said price should retrace to the EMA during consolidation, or to Purple/White/Smooth during downtrend. It did not retrace to any of those. Can someone please point out my mistake, or should we never trade against the trend, which was still very much down on the H2? (referring to the lower BB hit).
Attached Image (click to enlarge)
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