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Re: XARD - Simple Trend Following Trading System

#1311
traderokey wrote:
Thu Feb 06, 2020 3:55 am
navlem wrote:
Thu Feb 06, 2020 3:19 am


I had a similar trade on HK50 as you. But the price went backwards and broke the bear semafore instead.

I'm not trying to be negative or anything, but I want to learn, I do hope that I can prevent making mistakes again.
If you went short where your first yellow arrow is, then it means the price went in your favour for 399 pips before it turned upwards. However, it seems you didn't take profit. Xard would have long closed his position if had that trade which I'm sure he will be trading off the 5 Min chart.
No I did not take the take at the first yellow arrow as that is the semafor. I actually waited for the "2nd white dot" which is the blue dot pointed out by the 2nd yellow arrow. I took a trade there but it didn't bounce off, instead it pushed past the 2nd white dot and even the semafor.


Re: XARD - Simple Trend Following Trading System

#1313
navlem wrote:
Thu Feb 06, 2020 3:53 am
traderokey wrote:
Thu Feb 06, 2020 3:47 am


Hi Navlem, I'm just learning like you but you can see that at the point you entered the trade that price has already hit a resistance and was on its way down. You could have waited for price to have a confirmed upturn before entering a long position. Are you trading directly off the 30 Min chart? I thought the system is to use the 30 Min chart to establish a trend and then drop to 5 Min chart to enter a trade. If you go to the 5 Min chart, you will see that GBPJPY was already in a mini downtrend. So, I'll wait until that was over before going long. If I should trade currencies with this system, I'll still be mindful of news and what is happening on other higher time frames which have the tendency to invalidate a good semafor trade setup.
Hi,

Thanks for the advice. I thought that ZZ is all about letting the trade go into the opposite direction and letting it bounce back. And so the 2nd white dot was meant to be an indicator of bounce.

Based on the lower M1 timeframe it did bounce back up for a little bit before it dropped back down past the "first" 2nd white dot.

So you mean if it pushes past the "first" second white dot I should close my trade because it pushed past it?
The issue could be joining very late in an already exhausting trend. Looking towards the left on that 30 Min chart, I can see a big red resistance line which price is not too far away from. Price is also very far away from the green semafor at the bottom of that trend, so it is a very mature trend.

If I'm trading the 1 Min or 5 Min chart and a semafor appears at a support/resistance level, I'll probably close my position and re-enter when the trend turns. It will be good to go back through Xard's post and see how he takes his trades. I'm currently spending time on the 30 Min chart to see when a green or red semafor is printed and then quickly go to the 5 Min chart to observe what is going on. Once I know what I'm doing I'll take the plunge.

Re: XARD - Simple Trend Following Trading System

#1314
traderokey wrote:
Thu Feb 06, 2020 4:13 am
navlem wrote:
Thu Feb 06, 2020 3:53 am


Hi,

Thanks for the advice. I thought that ZZ is all about letting the trade go into the opposite direction and letting it bounce back. And so the 2nd white dot was meant to be an indicator of bounce.

Based on the lower M1 timeframe it did bounce back up for a little bit before it dropped back down past the "first" 2nd white dot.

So you mean if it pushes past the "first" second white dot I should close my trade because it pushed past it?
The issue could be joining very late in an already exhausting trend. Looking towards the left on that 30 Min chart, I can see a big red resistance line which price is not too far away from. Price is also very far away from the green semafor at the bottom of that trend, so it is a very mature trend.

If I'm trading the 1 Min or 5 Min chart and a semafor appears at a support/resistance level, I'll probably close my position and re-enter when the trend turns. It will be good to go back through Xard's post and see how he takes his trades. I'm currently spending time on the 30 Min chart to see when a green or red semafor is printed and then quickly go to the 5 Min chart to observe what is going on. Once I know what I'm doing I'll take the plunge.
I see, so it's not advisable to take the 2nd white dot trade if it is too far off the current semafor.

I'll take your advise on closing the position early on and re-entering again when the conditions are more favourable.

Yes, I usually look at the M5 or M1 chart when the M30 shows the second white dot, to try to enter at the best entry.

Re: XARD - Simple Trend Following Trading System

#1315
navlem wrote:
Thu Feb 06, 2020 3:59 am
traderokey wrote:
Thu Feb 06, 2020 3:55 am


If you went short where your first yellow arrow is, then it means the price went in your favour for 399 pips before it turned upwards. However, it seems you didn't take profit. Xard would have long closed his position if had that trade which I'm sure he will be trading off the 5 Min chart.
No I did not take the take at the first yellow arrow as that is the semafor. I actually waited for the "2nd white dot" which is the blue dot pointed out by the 2nd yellow arrow. I took a trade there but it didn't bounce off, instead it pushed past the 2nd white dot and even the semafor.
Again I will be taking the trade off the 5 Min chart. The large green semafor on the 30 Min chart is way below your first yellow arrow. That is when the 30 Min chart signaled an uptrend. At that point, I'll move over to the 5 Min chart. It is from there that you trade the 2nd dot. The first yellow circled dot on your 30 Min chart is telling you that market is going down before it will resume the uptrend.


Re: XARD - Simple Trend Following Trading System

#1316
traderokey wrote:
Thu Feb 06, 2020 4:23 am
navlem wrote:
Thu Feb 06, 2020 3:59 am


No I did not take the take at the first yellow arrow as that is the semafor. I actually waited for the "2nd white dot" which is the blue dot pointed out by the 2nd yellow arrow. I took a trade there but it didn't bounce off, instead it pushed past the 2nd white dot and even the semafor.
Again I will be taking the trade off the 5 Min chart. The large green semafor on the 30 Min chart is way below your first yellow arrow. That is when the 30 Min chart signaled an uptrend. At that point, I'll move over to the 5 Min chart. It is from there that you trade the 2nd dot. The first yellow circled dot on your 30 Min chart is telling you that market is going down before it will resume the uptrend.
Noted. Will try the M5 chart instead. Will see how it goes tomorrow.

Thanks for the advice.

Re: XARD - Simple Trend Following Trading System

#1319
xard777 wrote:
Thu Feb 06, 2020 2:40 am
OK, Here is Dow Jones from Opening Bell

As you can see on the 30 min the BIAS is now going DOWN (from Top Red Dots)
Price went down, made a 1st white Dot then pullbacked and made a 2nd White Dot
I went short at the 2nd White Dot with a tight (albeit imaginary) stop just above the Red Dot and followed price DOWN for a quick +116 Pip$ (as you do :-)
All the best
Xard777

PS I only trade HK50 & Dow Jones - enclosed Dow charts for your perusal
Can I ask what indicator is the black and orange channel xard? Im trying to make my own version thanks!


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