errol wrote: Wed Apr 01, 2020 2:00 am
I managed to get a buy entry late into the US session on the HK50 using my own algo to fit my trading style though certain indies have been incorporated from Xards trading system- thanks to Xard....Trend following is always key; however, one needs to also take into consideration that markets will only trend 30% of the time (Global uncertain periods such as we have now will likely consist of shorter intra-day trends, choppy and ranging markets vs long term trends) ..Thus, using basic principles such as the Elliot wave theory, divergence and price action will eliminate most false trade setups; indicators whatever the system may be should be used by one only to serve as secondary confirmation systems following price action.... This is how the trade setup would look like on the Xard system...
Guessing from the screenshot I take it you were trailing your buy trade. What are your trailing rules?
Where was your original SL and why?
What do you mean by "basic principles such as the Elliot wave theory, divergence and price action will eliminate most false trade setups"?
Can you explain how you applied these "principles" to this particular trade?
No offence - but ImpLaNT's thread up to now has been one of analytic precision? Shouldn't we at least try to live up to his standards?