promixer wrote: Wed Sep 27, 2023 6:53 pm Do you also know which Moving averages are used here? I can not find out from settings

ODJ wrote: Wed Sep 27, 2023 10:02 pm No, I do not use RSI. It's a lagging indicator and too slow for the market I trade.
As smart traders, we should aim to use leading indicators, smarter tools and techniques which give us an edge.
All markets generally respect Pivot points and certain Moving averages.
I have found the following tools very indispensable in my years of trading:
1) Day's Open
2) Previous Day's High
3) Previous Day's Low
4) Previous Day's Close
5) Day's Pivot
6) 20 EMA High
7) 20 EMA Low

The Market gets attracted to them like magnets.
You need to have an indicator, EA or BOT which automatically plots these lines on your chart.
You can get them free on many Trading forums or get a coder to code them for you.
Generally speaking, you watch how the market reacts to these lines as PRICE approaches them.
Is Price going to BREAK or BOUNCE off these levels?
Most of my entries tend to be around the 20 EMA.

For many years, I used customized price bars such as Heikin Ashi, Easy candles etc...which tend to summarize what price is doing.
But I ended up losing lots of money because they all seem to hide PRICE ACTION and react very late to market changes.
Now, I only use NATURAL PRICE BARS: Blue = BUY, Red = SELL
Hence, if you need to catch early market moves, you've got to use NATURAL price bars.
In an uptrend you've got to take a contrarian view of the market when the bar is red. Wait until price retraces to any of the levels stated above.
As soon as the price bar turns BLUE in an uptrend and starts going UP, just get in.
Same as in a Downtrend. Wait until the price bar turns RED around one of those levels...and starts going down.

For each position, make sure you always set a STOP LOSS and TAKE PROFIT.

Hope this helps!!

stond wrote: Wed Sep 27, 2023 11:53 pm Hi ODJ
Thanks for such a detailed description of your tools.
Which TF do you use most often, which TF is best for you to place orders?

stond

ODJ wrote: Thu Sep 28, 2023 12:16 am I only trade the 30mins timeframe.
I also look at the direction of the 1 Hr

Please always filter your entries using the ADX Indicator.
Please! Stay away from the market if either the signal line or both DI+ and DI- are below 20
It shows weakness and indecision between buyers and sellers.
And you're most likely going to lose money due to market noise.

xard777 wrote: Thu Sep 28, 2023 2:29 am Thanks ODJ for the walk down memory lane and bringing me back to the light again. The older you get the more it diminishes...
Xard777

stond wrote: Wed Sep 27, 2023 11:53 pm Hi ODJ
Thanks for such a detailed description of your tools.
Which TF do you use most often, which TF is best for you to place orders?

stond

jolugarpe wrote: Thu Sep 28, 2023 1:41 am I´m very interesting with your trading system.
Could you explain us with someone graphic how you trade and how you mix your system with xard´s?
when do you consider a break trend and how do yo enter?
Thanks

xard777 wrote: Thu Sep 28, 2023 7:37 am This looks nice...
Xard777