just to ask what was the entry and that breakout did you see?xard777 wrote: Fri Feb 26, 2021 7:29 pm Don't be greedy, be consistent - target hit for today.
Xard777
Re: XARD - Simple Trend Following Trading System
6132Yeah, Warwar, I'm in the same dilemma.warwar wrote: Fri Feb 26, 2021 12:33 pm I am from Asia and i saw that mostly of the formation or best entry is the time i am asleep. What indicies should i trade on? The time that i am awake is that the market is very slow and the formation of triangle is also slow.
I trade the HK50 for about 2 hours in the morning (then it often falls asleep) and then wait for the opening of the Europeans and trade the GER30 and/or the DOW for two hours. That's basically it. Would love to be part of the Wall Street trading but I need my beauty sleep of course... But there is still plenty of money to make.
Another option would be to trade daily charts if you trade Forex. Those may run around the clock.
Re: XARD - Simple Trend Following Trading System
6133I do forex but i am still learning , in forex what pairs do you trade? Is it okay to trade forex in 5m TF or it should be higher?RplusT wrote: Fri Feb 26, 2021 7:43 pm
Yeah, Warwar, I'm in the same dilemma.
I trade the HK50 for about 2 hours in the morning (then it often falls asleep) and then wait for the opening of the Europeans and trade the GER30 and/or the DOW for two hours. That's basically it. Would love to be part of the Wall Street trading but I need my beauty sleep of course... But there is still plenty of money to make.
Another option would be to trade daily charts if you trade Forex. Those may run around the clock.
Re: XARD - Simple Trend Following Trading System
6134I also entered a trade here! hehe but what is the best TP in this situation sir xard? 161 in fibo is my tp here .xard777 wrote: Fri Feb 26, 2021 7:29 pm Don't be greedy, be consistent - target hit for today.
Xard777
Re: XARD - Simple Trend Following Trading System
6135In the beginning of the day, i.e. at night, I saw the following:
As you will see in the chart below, the short bounced off the resistance (double bottom). And that was reason enough to enter here with a minimal SL.e the situation is not very different either.
I put TP near Pivot law. But unfortunately I was too tired to wait for it. That's why I booked my 10% and then off to bed.
In the morning I saw that it was a good decision to close Trade and go to bed :-)
We create order out of chaos - we trade that order, but sometimes that chaos is out of order, so we WAIT!!! for the order to return - and we trade again. XARD777
Re: XARD - Simple Trend Following Trading System
6136I don't trade forex. If I did, I'd only use the daily charts.warwar wrote: Fri Feb 26, 2021 7:51 pm
I do forex but i am still learning , in forex what pairs do you trade? Is it okay to trade forex in 5m TF or it should be higher?
Re: XARD - Simple Trend Following Trading System
6137Skyold wrote: Fri Feb 26, 2021 8:08 pm
In the beginning of the day, i.e. at night, I saw the following:
As you will see in the chart below, the short bounced off the resistance (double bottom). And that was reason enough to enter here with a minimal SL.e the situation is not very different either.
I put TP near Pivot law. But unfortunately I was too tired to wait for it. That's why I booked my 10% and then off to bed.
In the morning I saw that it was a good decision to close Trade and go to bed :-)
Screenshot (129).png
But as I said, that's my approach.
XARD will certainly have had a different reason or perhaps the same reason
We create order out of chaos - we trade that order, but sometimes that chaos is out of order, so we WAIT!!! for the order to return - and we trade again. XARD777
Re: XARD - Simple Trend Following Trading System
6138if you use it on 5 minutes and higher timeframes the background color change would signal that the perimeter dot has formed.... Now the triangle would form according to the timeframe you use for your trading..... on 1minute it will be the quickest, and will take time as you move to bigger timeframes. see the following two screenshots carefully.... on 5Minute chart the triangle formed a bit later, but looking at 1Minute chart the first triangle was complete and you could take a trade based on that... It is all about your chosen timeframe and risk tolerance... with smaller timeframes there are more fake outs and more errors. With bigger timeframe your stoploss becomes bigger but your accuracy also increases.sudhindragk wrote: Fri Feb 26, 2021 6:54 pm Mustafa and Xard,
Can we modify your tiny screen template to recognize perimeter triangles and still keep it light?
Kindly let me know.
Regards
Sudhindra
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- sudhindragk
Re: XARD - Simple Trend Following Trading System
6139Thanks a lot Mustafa. Got it now.
- These users thanked the author sudhindragk for the post:
- Mustafa
Re: XARD - Simple Trend Following Trading System
6140After taking trades off the triangle, I'm trying to see how possible it is to hold the trade until the perimeter dot appears.
This was Gold few minutes back.
This was Gold few minutes back.