Well this would be a very long 2nd post if I explain everything right now... I won't do it today because I'm still in a beginner stage, putting everything together. I will contribute and tell everybody my method with Xard's system, but not until I reach 1600$ or 6400$ or more...victortrend wrote: Wed Mar 08, 2023 9:45 pm Great first post!! Very good advice, really. It is true that in (30m/5m) I usually eat many false signs and I get a little desperate. I am going to test its temporality of time (1H/15m) to see how it is.
Do you always wait for a second point in 15m? And how many pips do you usually look for as a target? Ratio 1:1 ?
All the best.
Nevertheless I'm going to answer the best I can without being too long :
I sometimes use the second dot, but not always. A second dot followed by a trend resuming means quite a safe trade, but it doesn't happen everyday on US30/M15, so I sometimes need to trade in other way (but for the time being, always in trend following). So I can choose to trend with a breakout after a pause in the trend (same way as a second dot trade, but without the need for a second dot) this is useful in a strong trade, like yesterday (picture below) :
This is an example, but once again I'm not the most experienced trader on this thread. Nevertheless I'm going to post some trades good AND bad in the future (I just noticed there is another thread for that). I did my homework and read the 1313 pages of this thread, and one thing I dislike is that a lot of people here tell about their 20% daily gains, but never show a picture like the one below... It doesn't help beginners like me ! (well I have been trading cryptocurrencies for a few years, only in bull markets, but intraday forex is another thing, I really feel like a beginner here).
This picture allows me to answer other parts of your question :
- I take a trade if Xard v39 tell me I can (like "M15 Down Trend - Sells Only") AND if it's the same on H1 (or sometimes neutral on H1 "No trend - Waiting...") but it's more risky). I try to wait for a pullback and then enter when the trend resumes. If there has been a long price consolidation I can also enter when there is a breakout.
- I'm watching trend lines, and ichimoku to check if there is no close resistance/support on the way of the price and the lagging span. I'm watching H4, D, W and M ichimoku. H1 ichimoku is useless, price crosses it too easily within the day. Of course also you have to watch for daily/weekly/monthly open/high/low.
- My exit point uses the same method, trend lines, ichimoku H4, D, W, M and open/high/low to find where I'm going to exit, if things go right.
- Basically I use Xard to know where to get in, and the previous point to decide where to get out
Best regards
