Re: BeatlemaniaSA's XU-Hybrid Trading System

671
Jonln wrote: Sat Jun 11, 2022 5:00 pm ___________________
Hindsight.....Please allow me to address that a bit ( I'm not meaning you in particular).

I often read about "hindsight" in forums when charts are shown and how those should have been traded. What I see is, that hindsight is a mere excuse that mostly goes hand with ......a lack of knowledge, understanding, education, experience, relying on indicators, non existence of basics, too many instruments......the list is long.
Here is why:
When I trade an instrument (I trade only 2...Dow and Dax) I have a framework in place i.e. Trendlines and S/R levels from high TFs, developed over weeks, months and years. Those are drawn as price action goes and the major ones remain on the chart and will stay there.....Or as I use to say "from the last ice age to the next". Those levels are relevant and they basically always are. Now, during day trading PA (I place the orders on a 1M) may meet such Trendlines and S/R levels and I know "got to watch that" without the hassle of going back and forth between TFs. Thus, no surprises and no need for hindsight later on. The challenge is to cover the empty space on the right in relation to PA unfolding in front of our eyes. With a framework in place, no guessing is needed at all.
That's why I regard "hindsight" as an excuse or compensation for not doing what we are supposed to do as a trader.
Oh, and do yourself a favour and forget about Indicators. Stick to the basics. Trading will be a lot less complicated. Just my 3 Cents!

All the best
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Re: BeatlemaniaSA's XU-Hybrid Trading System

672
RplusT wrote: Sun Jun 12, 2022 1:17 pm Hindsight.....Please allow me to address that a bit ( I'm not meaning you in particular).

I often read about "hindsight" in forums when charts are shown and how those should have been traded. What I see is, that hindsight is a mere excuse that mostly goes hand with ......a lack of knowledge, understanding, education, experience, relying on indicators, non existence of basics, too many instruments......the list is long.
Here is why:
When I trade an instrument (I trade only 2...Dow and Dax) I have a framework in place i.e. Trendlines and S/R levels from high TFs, developed over weeks, months and years. Those are drawn as price action goes and the major ones remain on the chart and will stay there.....Or as I use to say "from the last ice age to the next". Those levels are relevant and they basically always are. Now, during day trading PA (I place the orders on a 1M) may meet such Trendlines and S/R levels and I know "got to watch that" without the hassle of going back and forth between TFs. Thus, no surprises and no need for hindsight later on. The challenge is to cover the empty space on the right in relation to PA unfolding in front of our eyes. With a framework in place, no guessing is needed at all.
That's why I regard "hindsight" as an excuse or compensation for not doing what we are supposed to do as a trader.
Oh, and do yourself a favour and forget about Indicators. Stick to the basics. Trading will be a lot less complicated. Just my 3 Cents!

All the best
Hi RplusT,

Thank you for that brief insight into how you see and trade the charts. I truly appreciate it as you constantly contribute an amazingly good amount of feedback. I understand that you DO NOT use indicators in your trading. However, do not forget that traders (potential and existing) come to FOREX-STATION because as it says in the banner...

"THE WORLD'S LARGEST DATABASE OF NON-REPAINTING TECHNICAL INDICATORS"

Do not hold it against traders looking for assistance or indicators to assist them with their trading. If you feel that traders can benefit from your established trading experience please do not hesitate to share it with us. Remember, what you have learned can NEVER be taken away from you.

Yes, there will be leechers and lurkers just wanting to take and not give back but that should NEVER change who you are or why you would want to share with others. When I started this thread I did it so I could help others. There were some who trashed it as rubbish but if it helped just once person change their lives for the better then it was worth it.

I for one am ALWAYS willing to learn and share it with others. So if you are willing to share then I will whole-heartedly listen. Just as myself, Pumba, Meyney and Xard have started threads to share and help others I feel you should start your own thread and share your experience. Only if that is what you would want to do of course.

The BEST advice I ever received was to never expect anything in return when you give or share something. This is because you will always be disappointed if you DO NOT get back what you EXPECT! You share because you want to and it makes YOU feel better. :)

Just my 2 cents :D

Warmest regards,
BeatlemaniaSA
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Re: BeatlemaniaSA's XU-Hybrid Trading System

673
It's amazing how fate works in mysterious and wonderful ways! RplusT made some insightful comments regarding trading strategy and Khaal added some more gold to the Traders Library :). So I thought I'd share this...from his latest addition Trading Books and Magazines




Make sure it has a permanent place near your trading station traders!

Warmest regards,
BeatlemaniaSA
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Re: BeatlemaniaSA's XU-Hybrid Trading System

674
RplusT wrote: Sun Jun 12, 2022 1:17 pm Hindsight.....Please allow me to address that a bit ( I'm not meaning you in particular).

I often read about "hindsight" in forums when charts are shown and how those should have been traded. What I see is, that hindsight is a mere excuse that mostly goes hand with ......a lack of knowledge, understanding, education, experience, relying on indicators, non existence of basics, too many instruments......the list is long.
Here is why:
When I trade an instrument (I trade only 2...Dow and Dax) I have a framework in place i.e. Trendlines and S/R levels from high TFs, developed over weeks, months and years. Those are drawn as price action goes and the major ones remain on the chart and will stay there.....Or as I use to say "from the last ice age to the next". Those levels are relevant and they basically always are. Now, during day trading PA (I place the orders on a 1M) may meet such Trendlines and S/R levels and I know "got to watch that" without the hassle of going back and forth between TFs. Thus, no surprises and no need for hindsight later on. The challenge is to cover the empty space on the right in relation to PA unfolding in front of our eyes. With a framework in place, no guessing is needed at all.
That's why I regard "hindsight" as an excuse or compensation for not doing what we are supposed to do as a trader.
Oh, and do yourself a favour and forget about Indicators. Stick to the basics. Trading will be a lot less complicated. Just my 3 Cents!

All the best
Thanks man, It's a really good comment. We all value your expertise, It's how we build as traders :)
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Re: BeatlemaniaSA's XU-Hybrid Trading System

677
BeatlemaniaSA wrote: Sun Jun 12, 2022 3:31 pm Hi RplusT,

Thank you for that brief insight into how you see and trade the charts. I truly appreciate it as you constantly contribute an amazingly good amount of feedback. I understand that you DO NOT use indicators in your trading. However, do not forget that traders (potential and existing) come to FOREX-STATION because as it says in the banner...

"THE WORLD'S LARGEST DATABASE OF NON-REPAINTING TECHNICAL INDICATORS"

Oh yes, I don't contest that. A lot of people prefer colour coded trading for the reason to tell them when they should enter. Others are more advanced and know that Indicators are just an indication of a possibility to unfold etc. .... I know that, I have been there.
Got to shed a bit more light on my approach. During my journey of a thousand Indicators I got a call (pretty much out of the blue) from a cousin who happens to be a trader at a major Swiss Bank. He was asking for legal advice and during the conversion I said, I love the challenge of trading. He was laughing and said ".....but as a retail trader with no information available, you are still struggling to make constant profit and get a grip on the instrument you trade". Me: " well, yes, I was about to say so". He: "may I give you an advice as a professional trader. Close all your charts and open a naked one. Then you go to high TFs and draw S/D levels of significance. Scrolling to the left you can easily figure that out. Then draw Trendlines for direction to watch those too and a possible break thereof. Doing so you have established a framework for your Instrument and it shall stay in place forever. You may safely go down to a 1M chart to place a trade, getting a better price with little risk. That's it. Doing so you will achieve one very important thing. You will be trading with us, not against us". I'm glad I did listen and doing so over quite some years, I never looked back.
I love this place here and the activities going on. Thus I thought, I should publish my approach here (it's basic, not rocket science). Some might be willing to listen and give it a try or use it as valuable add on. I maintain, I can trade any chart in this forum profitably. Why? Because I got my framework in place and thus don't have to rely on that "turning blue go long, turning red go short, oversold and overbought and so on...."
Well, got nothing more to add. All the best wishes.......
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Re: BeatlemaniaSA's XU-Hybrid Trading System

680
Hua123 wrote: Mon Jun 13, 2022 8:58 pm Hello BeatlemaniaSA, thank you very much for sharing this system, I have a question, it is true that the big dots on the picture you introduced exist to be redrawn, as shown by the arrow on the picture, how do you avoid this kind of transaction? Thank you very much!
Hi Hua123,

They are semaphore's (based on the zig-zag), so yes they do repaint. However, I've removed them from the latest version of XU-Hybrid (see 1st post). The system now has NO repainting indicators :)

Go and check it out and please share your feedback and trading experiences with the members :)

Regards,
BeatlemaniaSA
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