Re: XARD - Simple Trend Following Trading System

12285
FAIZANXG wrote: Tue Nov 15, 2022 9:38 pm Why didn't it work? ☹️

UPDATE

Lost funded account. (again)
Hi FAIZANXG,

Were your trades BUYS or SELLS? One cannot tell from the screenshots you've posted. Maybe take screenshots of that whole chart so that we will be able to see your trades more clearer. Thus be able to assist you better with our comments and/or suggestions :)

Regards,
BeatlemaniaSA
BEATS V5 - "Enjoy The Quiet Between Trades”

Improve Your Trading Psychology - NO FEAR, NO DOUBT


Re: XARD - Simple Trend Following Trading System

12286
BeatlemaniaSA wrote: Tue Nov 15, 2022 10:35 pm Hi FAIZANXG,

Were your trades BUYS or SELLS? One cannot tell from the screenshots you've posted. Maybe take screenshots of that whole chart so that we will be able to see your trades more clearer. Thus be able to assist you better with our comments and/or suggestions :)

Regards,
BeatlemaniaSA
My buy was after the second DOT at the blue arrow candle close
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Jedidiah

Re: XARD - Simple Trend Following Trading System

12287
[quote=FAIZANXG post_id=1295496047 time=1668508721 user_id=4951816]
Why it didnt work? ☹️

UPDATE

Lost funded account. (again)

1. be selective
2. use higher timeframe like 30M as Xard is trying to say here

what do you see on 30M? double top, zigzag down, I assume on the second top there will be a big semafor, so no solid up...
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Re: XARD - Simple Trend Following Trading System

12288
FAIZANXG wrote: Tue Nov 15, 2022 10:57 pm My buy was after the second DOT at the blue arrow candle close

The yellow square semafor says it is a downtrend, so you can safely take 2nd dot trades for sells only. If, out of boredom, you want to go against the trend and take a buy trade, then it should be lower risk and a scalping trade for few pips.

Don't beat yourself up too much. I make this mistake often but have started turning the corner gradually. Targeting daily 4% profit and nipping in and out to achieve that has helped me significantly. I only blew my account in the past when I went emotionally overboard and overtraded. Maybe you can just open one trade at a time and ONLY add a second trade if there is a real trading reason (beyond emotion) to do so. This limits the losses. I found out that I'm not particularly good at managing loses and often let them run, hoping against hope that the market will run. I suggest you cut yourloses very early and admit that you were wrong (easier said than done, I know!). Using a trade management tool to set hidden stop losses has been helpful for me too.
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FAIZANXG

Re: XARD - Simple Trend Following Trading System

12289
traderokey wrote: Tue Nov 15, 2022 11:21 pm The yellow square semafor says it is a downtrend, so you can safely take 2nd dot trades for sells only. If, out of boredom, you want to go against the trend and take a buy trade, then it should be lower risk and a scalping trade for few pips.

Don't beat yourself up too much. I make this mistake often but have started turning the corner gradually. Targeting daily 4% profit and nipping in and out to achieve that has helped me significantly. I only blew my account in the past when I went emotionally overboard and overtraded. Maybe you can just open one trade at a time and ONLY add a second trade if there is a real trading reason (beyond emotion) to do so. This limits the losses. I found out that I'm not particularly good at managing loses and often let them run, hoping against hope that the market will run. I suggest you cut yourloses very early and admit that you were wrong (easier said than done, I know!). Using a trade management tool to set hidden stop losses has been helpful for me too.
I trade 0.25 or 0.50% of account balance per trade and only open a second trade once my first trade is risk free i.e hit TP or BE has been initialised.

It works for me and is relatively stress free
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Re: XARD - Simple Trend Following Trading System

12290
I took a Trade off the 2nd Dot on the 5min after the RSI went ABOVE 30.
On the higher 4hr TF Price was still showing UP momentum.
Xard777

Main reason for closing Trade:- PPI m/m figures coming out at 13:30HRS
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XARD: If Carlsberg made charts... Probably the best charts in the world


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