Sure, but it's more than just how. Much of this system is gained in knowledge by reading from post #1 and seeing the answers from other people's questions. Most questions have already been answered and then some. It helps to see this to better know when to enter beyond just the second dot or cross of trend. Figuring out what makes a second dot system effective comes with time. One way I gained more knowledge on this was reading more about Gartley patterns.harveyspecter wrote: Tue Dec 14, 2021 4:50 am Can you give any input on how you are trading Xards system? thanks
For me, I ended up with a slightly modified version of the Xard system based on my personal preferences, not necessarily efficacy. For my entries I don't look for just one thing, it's a combination of confluences. Most of my confluences are gained from experience by just watching how the chart flows and reacts in certain situations. I usually do enter in after second dots and/or trend crosses, but it's the experience confluences that really help me choose which to take.
This is the discovery process I followed:
1. Read this entire thread. If you don't understand what is being said then Google it, learn it, and continue.
2. Pick one of the versions along the way that feel the best for you. Most if not all can be profitable, just personal preference.
3. Actively watch that version in action for a couple of weeks. See how price moves tick by tick to certain points illustrated by that version.
4. If you want to add/remove indicators I'd do it slowly and watch again. Also, don't add an indicator unless you know well why it does what it does. Following arrows usually won't help you in the long run unless you know why it appeared.
5. Once you have a system version that feels good then stop. There may be a new version or new indicators that pop up, but just stick with one setup for a while.
6. Write a trading plan. How YOU will determine an entry, exit, and stoploss. See how you can fit in the 'Don't be greedy' advice to your plan and become profitable.
7. I believe in trading with a real account even from the start. In the beginning you can do very small lots, but still feel like you are actually winning or losing a trade.
8. Practice like this until you are profitable for an amount of time that you are comfortable with.
9. Start trading with higher amounts, many suggest 1% risk.
10. Continual improvement - Update your setup to make your successful trading plan easier. If you change something more fundamental to your setup I'd start back at step 3.
This may not be the answer some people want to hear from me, but this is the journey I took.
Below is a chart I made from this morning showing one thing I might look for. Usually I have been trading the 5m TF, this just came up today on the 1m and it looked good for me and my plan.
