Andreuxx wrote: ↑

Wed Sep 08, 2021 9:39 pm

Hi Paddygir! I want to try that STOCH indicator, let me know the link to download it, many thanks!

FourXXXX wrote: ↑

Wed Sep 08, 2021 9:44 pm

All the answers are there if you go looking. I have seen comments from Xard earlier this year that if the candles change colour against you get out immediately, don't wait to be stopped out. Here is what Xard said almost 2 years ago to the day.

"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."

Musashi wrote: ↑

Sat Sep 04, 2021 2:08 pm

Thank you Xard Sensei, for everything you do!

Hey everyone - hope you've all had a great week.

I was debating whether to post my summary for the week.

I subdued my gremlins and reminded myself of the ethos of the thread and Forex-Station in general: to give back and share.

Reviewing my trades and trading journal, it was overall a successful week :

- I was patient for the trades.
- I was not greedy (taking consistent small bites out of the market)
- I used the higher time frames for confirmation for lower timeframe entries.
- I disciplined myself to look for only 2nd dot entries (read 2nd, 4th, 6th, 8th, etc.), or Golden Nugget trades.
- I focused on one instrument (AUS200).

It was very messy though. I can see where and how I can make next week better.

Looking at the compounding spreadsheet every day helps to keep me focused and hopeful. Not keeping up on a daily basis but am getting closer.

SK, I'm super keen to look at pivot channel on the AUS200 next week. Some days definite trend days, some definite range days.

Constructive feedback is always welcome.
Cheers

xard777 wrote: ↑

Thu Sep 09, 2021 12:04 am

Here is another golden nugget to use in your trading arsenal.
Xard777

xard777 wrote: ↑

Thu Sep 09, 2021 2:42 am

So that everyone is on the same page here is my trading setup.
Please do not ask for changes, it's not happening.
This is the start of the trading season so I will be away trading.
The orange Zigzag line on my version displays the 4hr TF while the 15m red/green Dots display on the 30m TF - kinda lets me see the bigger picture from just the one 30m TF.

When choosing the template you may have to change the TF back and forth so that the chart draws correctly. Also, to get the chart view just right for your monitor you may have to drag the white inverted triangle (top right of chart) left or right until your viewing is set. if you do make any changes remember to save template so you do not have to repeat yourself in the future.

The Tradefx expert works a treat (default setting 5'000 change to suit) however, mtf indicators will slow down drastically if used along with an expert (it is an MT4 quirk).
The Dashboard is for display purposes only, once set to your own choice do not click on it when trading. Instead, change timeframes via the mouse (right mse click and select timeframe) and change charts via enter key and manually entering symbol. Apart from that it all works a treat with no lag.
Enjoy! and may your trading experience be the best and most profitable ever.
Xard777