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Re: XARD - Simple Trend Following Trading System

15253 by xard777
Oops! I meant to add this to XU v015-Setup, but I will address it here instead.

This section explains how I use stops in my trading strategy.

**Setting Stops:**

First, download the enclosed stop script and copy it to the **scripts** folder, then restart MT4. You can set the stop by left-clicking it, holding, and dragging it to the desired level. If you need to change the stop, simply drag another one onto the screen and drop it at the new stop level; it will auto-update.

**Trade Entry:**

I enter a trade when the price crosses the MA lines, the candle changes color, and it's moving in the direction of the current Arrow dot.

**Using Stops:**

When I make a trade, I use two types of stops:

1. **Physical Stop:**
- This is an actual stop order placed at the current Arrow Dot.
- It serves as a fail-safe in case of sudden market movements due to news spikes or if the market moves against me while I'm not paying attention.

2. **Virtual Stop:**
- Set closer to the entry point, typically just above/below at the crossing of EMAs 13 and 55, this is where the RSI often crosses the mid-level area, indicating a likely movement. Hence, I do not use an RSI anymore but I use the 13/55 EMA instead.
- This represents a mental stop where I monitor the situation closely.

**Execution:**

In real market conditions, situations can change rapidly. If the price reverts back over the EMA lines, I rely on my intuition. If my gut tells me to exit, I do so immediately, well before hitting my virtual stop. I don't second-guess my instincts; I act upon them and move on.

If I decide to stay in and my virtual stop is hit, I close the trade without hesitation and wait for the next opportunity to set up.
Xard777

PS I have included the Take Profit TP script as well, again just drag and drop onto the level on the chart where the TP should be and repeat to update.
XARD: If Carlsberg made charts... Probably the best charts in the world

Re: XARD - Simple Trend Following Trading System

15256 by stond
lukgoku wrote: Mon May 20, 2024 7:46 pm Good morning XARD,
I want to express all my gratitude for the work and experience you are sharing with us. Personally, you have been truly helpful to me, even psychologically. Thank you, thank you, thank you.

Just a small request: is it possible to solve this little issue with the decimals of the DAX value?
Hi,
try this Panel_1
I processed it for myself.

stond
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Re: XARD - Simple Trend Following Trading System

15257 by lukgoku
lukgoku wrote: Mon May 20, 2024 7:46 pm Good morning XARD,
I want to express all my gratitude for the work and experience you are sharing with us. Personally, you have been truly helpful to me, even psychologically. Thank you, thank you, thank you.

Just a small request: is it possible to solve this little issue with the decimals of the DAX value?
XARD: Let me know if this works...
Oh yessss! Thank you!

Re: XARD - Simple Trend Following Trading System

15258 by xard777
OK, So I did not trade during the Asian market today and I missed out on the big UP move on the Nikkei and Gold. Sometimes you just need to sleep.
But I did get in on a crappy down move on Gold and it paid out in cherries (Winner Winner, Chicken Dinner).
So if I can do it and hit +7% then so can you. Don't let the dream pass you by, pull the trigger, center mass kill shot, take the prize. You earned it!
Have a wonderful trading day making a boatload of Pip$ again.
Xard777

PS What you bringing to the table for the US session?... Me, I'm bringing "HOUSE MONEY"
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XARD: If Carlsberg made charts... Probably the best charts in the world

Re: XARD - Simple Trend Following Trading System

15259 by Lenovo
xard777 wrote: Mon May 20, 2024 9:37 pm OK, So I did not trade during the Asian market today and I missed out on the big UP move on the Nikkei and Gold. Sometimes you just need to sleep.
But I did get in on a crappy down move on Gold and it paid out in cherries (Winner Winner, Chicken Dinner).
So if I can do it and hit +7% then so can you. Don't let the dream pass you by, pull the trigger, center mass kill shot, take the prize. You earned it!
Have a wonderful trading day making a boatload of Pip$ again.
Xard777

PS What you bringing to the table for the US session?... Me, I'm bringing "HOUSE MONEY"
but was the sell done on open day?
XARD: No 1 Rule: Don't be greedy, no.

Re: XARD - Simple Trend Following Trading System

15260 by lukgoku
xard777 wrote: Mon May 20, 2024 3:53 am Here is XU v015-Setup for everyone's perusal.

While you download this version please take the time to consider this...

I've repeatedly emphasized this throughout this thread: don't be too greedy, have a plan, and stick to it. Reverse engineer everything and break it down into manageable, bite-sized steps.

Start with a five-year plan of day trading without risking too much initially. Whether your initial capital is $1,000, $10,000, or even $100,000, I recommend using only 10% of it as your starting fund. The money will start to flow once you've achieved sustainability; until then, only risk 10% of your capital.

Now that you have your starting fund, let's move on to reverse engineering. What can you comfortably achieve in a day/week, trading every day? Consider realistic targets like 3%, 5%, or 7%. Avoid over-trading and giving back your hard-earned profits.

Remember, your growth is calculated by starting fund times (1 + daily/weekly percentage growth) raised to the power of the number of trading days/weeks that you put in.

For example:
- **Starting Fund**: $100
- **Daily Percentage Growth**: 3% (or 0.03)
- **Number of Trading Days**: 220

Using the formula:
`Starting Fund x (1 + Daily Percentage Growth) ^ Number of Trading Days`
It becomes:
`100 x 1.03 ^ 220 = $66,709.76`

Starting with one hundred dollars, growing it at three percent daily for two hundred and twenty trading days results in sixty-six thousand, seven hundred and nine dollars and seventy-six cents. That folks is one year of your five year trading plan. Go figure.

Keep the bigger picture in mind: your five-year growth potential towards true wealth. Always remember this goal when trading. Stick to trades and markets you are comfortable with, whether it's GBP/JPY, GBP/AUD, Gold, Oil, the Dow, or the Nikkei indices.

Finally, establish a daily routine and adhere to it diligently. Consistency is essential for success in trading. Whatever your trading target is... Daily or weekly percent. Once you hit your target, it's crucial to tell yourself to shut everything down and engage in other activities. This practice is vital as it helps maintain checks and balances in your trading approach and overall mindset.

One last thing, being out of the market is just as important as being in the market. WAITING for that perfect setup, that center mass kill shot, is just as critical. Patience is a virtue in trading, and exercising it can often make the difference between success and failure. Remember, not every moment is an opportunity to trade. Sometimes, the best action is to wait and preserve your capital for the right moment. Stay disciplined, stick to your plan, and always keep the bigger picture in mind.

Enjoy the setup and may you make a boatload of PIp$.
Xard777
Mr. Xard,

With this setup, do you calculate the entry by looking at the 5-minute or 15-minute timeframe?
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