Merry Christmas to you and all your families , I wish you all the best , and I am honored to be part of this group and work with this system, all togheter we will become the Best in the World

I definitely didn't give your template enough attention when I first loaded it up. The additional filtering you have to avoid bad/early entries looks great. Thanks for your efforts!

Happy Brianmas.

DaveTrader wrote: Sun Dec 25, 2022 8:38 pm I definitely didn't give your template enough attention when I first loaded it up. The additional filtering you have to avoid bad/early entries looks great. Thanks for your efforts!

What filters are you referring to?

ffsss wrote: Sun Dec 25, 2022 9:40 pm What filters are you referring to?

Good Morning,

The TMA band is the added filter. FourXXXX does a great job explaining throughout this thread, page 4 & 5 have some great screen shots and dialogue.

For example:
This is a screen shot of the uptrend early in the week. The large square semafor at the top right of the screen started out near the bottom of the trend. When you get home from work in the middle of the afternoon looking for a trade, that large semafor (that can continue to move for hundreds of PIPs) will sometimes cast just enough doubt to keep me out.

As you can see the TMA was there to help you continue to follow the trend...it's zoomed out a lot and is not easy on the eyes, but you get the idea.

DaveTrader wrote: Sun Dec 25, 2022 10:24 pm
For example:
This is a screen shot of the uptrend early in the week. The large square semafor at the top right of the screen started out near the bottom of the trend. When you get home from work in the middle of the afternoon looking for a trade, that large semafor (that can continue to move for hundreds of PIPs) will sometimes cast just enough doubt to keep me out.

As you can see the TMA was there to help you continue to follow the trend...it's zoomed out a lot and is not easy on the eyes, but you get the idea.

There will no doubt be longer periods but I have seen the large square semaphore move higher for 3 weeks on the DAX. So if you were waiting for shorts off it you would be missing out on a lot of profit at best. What I aim to do is take the second small dots to the white dot but if the moves are small then take the trade away from the white dot. Price tends to move less in retracements against the way it wants to go and much larger moves in the direction it wants to go. The distance between the support and resistance levels shows this.

Also, look for reversals around the open lines.

FourXXXX wrote: Mon Dec 26, 2022 9:07 am There will no doubt be longer periods but I have seen the large square semaphore move higher for 3 weeks on the DAX. So if you were waiting for shorts off it you would be missing out on a lot of profit at best. What I aim to do is take the second small dots to the white dot but if the moves are small then take the trade away from the white dot. Price tends to move less in retracements against the way it wants to go and much larger moves in the direction it wants to go. The distance between the support and resistance levels shows this.

Also, look for reversals around the open lines.

Thanks for the insights.
I was never really tempted to take the sells on the way up. I did get gun shy on a couple of the re-entry buys though and missed out on some of that, I was more anticipating the consolidation shoe to drop. I look forward to the next similar scenario and having better recognition.

DaveTrader wrote: Mon Dec 26, 2022 11:48 am Thanks for the insights.
I was never really tempted to take the sells on the way up. I did get gun shy on a couple of the re-entry buys though and missed out on some of that, I was more anticipating the consolidation shoe to drop. I look forward to the next similar scenario and having better recognition.

A problem I have at times and I am sure many others do is that you form a bias in your mind. Yet the chart says otherwise, when all your indicators are telling you buy then that is the right thing to do. When you go back over the chart after a trading session and see what could have been if only I took that entry. Then look at what you would have lost if it went wrong, usually the risk to reward is very much in your favour.

For short period I was following Tom Hoogaurds trades on Telegram, he was sure the market was going south in a big way. I was following my own signals but seeing what he had to say, once after the open of the DAX he had taken 2 losing shorts and I had taken one long and made over 60 PIP$. It was his bias that was causing him to only see sells. Quite often the local media here in the morning which is just after NY close will say the market is going to go up or down. I used to take that on board but after a while, I realised most times the market did the opposite of what they said. When I first started trading back in the 90's the "guru" I was paying to learn from showed a copy of the front page of one of our major newspapers the day before the 87 crash. The headline was the Stock Market is going up!

Now I try to avoid any news and if I do hear something I think it is most likely the opposite of what will happen and look at the charts.

FourXXXX wrote: Mon Dec 26, 2022 1:52 pm A problem I have at times and I am sure many others do is that you form a bias in your mind. Yet the chart says otherwise, when all your indicators are telling you buy then that is the right thing to do. When you go back over the chart after a trading session and see what could have been if only I took that entry. Then look at what you would have lost if it went wrong, usually the risk to reward is very much in your favour.

For short period I was following Tom Hoogaurds trades on Telegram, he was sure the market was going south in a big way. I was following my own signals but seeing what he had to say, once after the open of the DAX he had taken 2 losing shorts and I had taken one long and made over 60 PIP$. It was his bias that was causing him to only see sells. Quite often the local media here in the morning which is just after NY close will say the market is going to go up or down. I used to take that on board but after a while, I realised most times the market did the opposite of what they said. When I first started trading back in the 90's the "guru" I was paying to learn from showed a copy of the front page of one of our major newspapers the day before the 87 crash. The headline was the Stock Market is going up!

Now I try to avoid any news and if I do hear something I think it is most likely the opposite of what will happen and look at the charts.

No doubt a bias can get in the way of the profits and I guess it's inevitable to be "off your game" some days. Thankfully, I have greatly improved on the idea of not taking trades unless I know exactly why I'm taking it. If I can't see it, for what ever reason, I stay away. The struggle going forward is to identify that mental pattern and find ways to shift my focus...looking at different time frames...templates from the xard family tree...stepping away