Re: XXXX Trading System "Money For Nothing" (except blood, sweat, tears and persistence)

141
DaveTrader wrote: Mon Dec 26, 2022 2:40 pm 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
Good day, Dave and Mr FourXXXX,
Thanks for sharing your thoughts.
I have similar challenges "one's subjective bias and identify that mental pattern and find ways to shift my focus...looking at different time frames". I have been thinking about how to find solutions on the"bias and timeframes" challenge by doing the following:
(1) Bias Correction / Reframing the Mind
I do review on each trade: good and learning (loss) trades as Mr FourXXXX has shared his wisdom in his postings. I do the review before I leave the trading desk for the current day trade (Previously, I did not do it on the same day before leaving the trading desk. I decide to do it at the end of the trading session after I have observed myself doing the same mistakes again / trading my past mistakes).
Next, I review all trades on Saturday, this I do to help me see the bigger picture, the blind side and oversight to gain insights for the next week day trading. The "sights" are playbook/setup rules for buy /sell/no buy or sell (Wait). And I am making it a habit to review the lessons gain prior to switching on the trading platform.

(2) Time Frame
My review tells me that I gotta get the timeframes setup: Bias (Direction) / Trade Windows. I go back to Xard's posting to find the answer. Next, I discipline myself to follow the timeframe preset prior to the trading session.

I am learning on the go.


Sincerely,

Stuart
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Re: XXXX Trading System "Money For Nothing" (except blood, sweat, tears and persistence)

142
FourXXXX wrote: Tue Dec 20, 2022 11:47 am I am not using M1 or MMath, The last screenshot and template I posted is what I use with M5, M15 and M30 charts open. Usually, I am aiming to take profit @ 61.8% ADR. But I also am watching very closely the 200SMA, 61.8% retracement, 61.8% Fibonacci Extension (the green one), Open Line, PDL, PDH, PWL, PDL and previous large Semafors. I trade JPN225, HK50 and DAX, all these levels work on them but other symbols may be different. If price is reaching any of these levels then I watch, sometimes it can be a sharp retracement, sometime it will plow straight through and other times it will stall there and then ether retrace or continue the trend.

Dear Mr FourXXXX,
Thank your for sharing.
You have M5, M15 and M30 charts open.
When M30 bias is up, M15 will be up too, next is go to M5 to take trades of the 2nd dot in alignment with the M15 & M30 bias.
What time frame is for your trade management, i.e exit, add on, trail stop via the XU-Trend line, is it M5 or M15?

Learning and hearing from you.
Thank you.


Sincerely,


Stuart
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Re: XXXX Trading System "Money For Nothing" (except blood, sweat, tears and persistence)

143
StuartWong wrote: Mon Dec 26, 2022 7:06 pm Dear Mr FourXXXX,
Thank your for sharing.
You have M5, M15 and M30 charts open.
When M30 bias is up, M15 will be up too, next is go to M5 to take trades of the 2nd dot in alignment with the M15 & M30 bias.
What time frame is for your trade management, i.e exit, add on, trail stop via the XU-Trend line, is it M5 or M15?

Learning and hearing from you.
Thank you.


Sincerely,


Stuart
I have the EA loaded on M5 only, although I have M15 and M30 open I will take trades based of M5 only. If the trade is against the higher TF then you need to ready to close sooner if it does not move as expected. Although having said that my best symbol is HK50 and I only take trades that agree on M5 and M15. When HK50 moves it can be very quick, there may come a day when I just trade the first couple of hours on HK50 only.
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Re: XXXX Trading System "Money For Nothing" (except blood, sweat, tears and persistence)

146
Woodyz wrote: Mon Jan 16, 2023 7:56 pm @ FourXXXX
With reference to your TMA Slope indicator, I was wondering if it was at all possible to have the text change color accordingly in alignment with the TMA Channel colors.
Yes, it is possible. This change is only in the Slope Indicator, not the full TMA Bands as it would just add unnecessary processing.
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Re: XXXX Trading System "Money For Nothing" (except blood, sweat, tears and persistence)

147
Thanks xxxx, I've been using it for two weeks on dow and dax.
Still not a professional on entries I keep jumping ahead before all conditions are met but working on it.
I'm looking for big semaphore and cross of lines.
Triangles are not always helpful.

I think that the band color should change before jumping into any trade to make sure it's more successful is that correct or would it be late?
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Re: XXXX Trading System "Money For Nothing" (except blood, sweat, tears and persistence)

148
marwanm wrote: Mon Jan 23, 2023 9:31 am Thanks xxxx, I've been using it for two weeks on dow and dax.
Still not a professional on entries I keep jumping ahead before all conditions are met but working on it.
I'm looking for big semaphore and cross of lines.
Triangles are not always helpful.

I think that the band color should change before jumping into any trade to make sure it's more successful is that correct or would it be late?
Good to hear you are having success, it can be hard to wait for the right setup. Keeping a journal of your trades with what you could have done better will help reinforce what works best.

Taking a trade off the large Semaphore and crossing the ribbon is a valid trade. Just be ready to take profit when the first Semaphore with a white ring appears. Usually, there will be a pullback to form a second dot/triangle to get in with the new trend but there are times there is no pullback. So when the white ring appears stay in if price keeps moving in your favour, be careful at the 200SMA and green 61.8 fiboextension, especially on the DAX.

Another possible entry that I have not shown before is when price reenters the TMABand. This is best done with some other signal as shown below with the second dot. You can get in with a tight stop at above the large semaphore and pickup a lot more pips on the way back to the 36EMA.
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