Re: A New Trading Game (chaos game) Played for Money and Played in Risk- Free Space
Posted: Tue Nov 14, 2023 10:04 pm
Hi ImpLaNT,
Don't worry about the TP, I have a trade EA on another chart along with the newHUD indicator to show all the Daily ranges etc.
It only puts on a SL and TP which I can then drag around to where I want it, think it's set to 100 and 500, I just left as it went on as this was short term trade.
I am only really using the Orbit chart on 4hour, and at times switching to 1hour and Daily. You can see MRI lines across all these as a possible place for a bounce or turn.
But here is the main thing, and I hope that you as well as other genuine traders here get to understand as I am about to start to show the basics of the screenface, Orbits purpose is to ignore certain chaotic fluctuations from the market and show the true direction of price (a singularity). At times you might think it is lagging for that very reason but nothing could be further from the truth.
Observations at places wherever and whatever the market decides to change direction, Orbit, being a mathematical model, starts showing this change by n swapping between open and closed, as well as other changes in the screenface which may APPEAR to be repainting but it is NOT. The fact that the market is at indecision reflects in this short term changing. Whether it ends up being a retracement or a period of FLE/ranging or a longer move will follow through to the screenface in time.
This is just spending a bit of time watching Orbit in action and can signal the end of a previous move at the same time, while this seems complicated at first, if you get drawn into a move when n goes open again in the same direction as before and the market moves against you (a trap) then close your trade at a loss when n signals closed again.
This is exactly what happened with my trade yesterday, but I was waiting as I had noted these tell tail signs.
A n signal trade by the book at both stages and a 5n max target as outlined in DarkDoji's latest manual in post 1. Yes these can be taken seemingly against the previous trend, not entirely risk free as stated in the manual, but a little bit of how to read Orbit made it as good a trade as any in my book.
Davie
PS Found it again...