Re: XARD - Simple Trend Following Trading System

xard777 wrote:
Fri Oct 04, 2019 4:57 pm
Here is a second trade today on HK50.
The Squiggly lines in the sub-window keeping you out of the up move (probably banks faking it so they can buy in large) and getting you in on the continued down move.
Winner Winner Chicken Dinner.
Hi Xard,
Can you please suggest how should stoploss be placed? You have given ADR scale for TP. Similarly, where should I place stoploss for trading of major Indices like Dax, HS, and WS.

XARD: I am the wrong person to ask about stops, I do not use stops in my trading. When I take a trade I sit on it and manage it the whole way. If the trade is not going my way I pull the plug and sit on the sidelines waiting... There is so much talk about brokers using stop hunting algos and the big banks and institutions faking moves in the opposite direction so they can get in on the main move action with multi billion dollar trades. Over time we tend to see these fake moves followed by massive moves in the direction of the main trend. That is why I create my setups to follow these main trends so that we get in on the action. In the past I too did use stops in my trading only to sit back and wait for my stop to be caught. I do not do that now. When I enter the trade it means that the market is moving in the direction of my trade and if it is not then I am out. Also, if a trade that I am in is slow or static for a while I am out. Sometimes, it pays to simply stay out and wait. If there are mixed signals on the chart I will not take the trade, instead I just sit there. When everything lines up and the market is moving in the direction of the main trend then I will not hesitate to pull the trigger. With stops I think we become lazy and too reliant on the stop when on hindsight we know that we should have been out of that losing trade ages ago. When we book a profit it no longer becomes house money, it's our money and to hell with giving it back.

Re: XARD - Simple Trend Following Trading System

Xard, thanks for your continued contribution. I came across one of your other systems (and it really appeals to me visually). I wondered if you could point me in the right direction?

Looks like Renko, but I'm ok with traditional candles.
Screen Shot 2019-10-05 at 12.29.05.png

Re: XARD - Simple Trend Following Trading System

PREETHI wrote:
Sat Oct 05, 2019 5:55 pm
hi, XARD. Can you modify the ADR Indicator to add option to change the color of the ADR Lines as shown in the picture.[ Two different colours for BUY area ADR Lines and SELL area ADR Lines]
You can change the ADR levels color by changing default ADRColUP=clrSnow & ADRColDN=clrSnow from the Input menu.
Once you do change these level remember to save as a another template.
!!!-MT4 X-XARDFX-ADR D1.ex4
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Re: XARD - Simple Trend Following Trading System

LATEST UPDATE All changes made from thread feedback - thanks everyone

OK, Folks - That is me finished with the setup, from Monday onwards its Trading Time.
Enjoy this latest and final version.
As before, delete what you do not like and save as your own trading template.
May the God of Pip$ shine down on you and while you bask in this light remember to Compound, Compound, Compound.
If nothing else may you be well versed in geometrical progressions.

All the best

PS Do not ask for a refund for none shall be given... (it is FREE - only joking)
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Re: XARD - Simple Trend Following Trading System

XARD: The thing is, with me switching my trading from Currencies to Indices I no longer use heatmaps, Powerdash or Currency meters.
Basically, I just concentrate all my efforts on just two charts... HK50 & WS30.
The downside to this is that you usually trade them 12 hrs apart but the upside is you get your weekends off :-)
Dear Xard, I respect your decision, however I'm in an earlier phase, it would be premature to get rid off currencies so soon before knowing them.

1. I started to follow your path quite late, can you help me by informing whether you stripped any other relevant currency related indicators (like the aforementioned CURRENCY), tools off your system till now, or did i catch at the moment when you have started it? I would try those modules I might have missed.

2. In addition what does the METER indi show considering indices (HK5 vs 0, or WS3 vs 0)? In case of currencies it's crystal clear.
Thank you in advance,

Edit: just noticed you launched the final version, thx!

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