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Re: XARD - Simple Trend Following Trading System
Posted: Wed Feb 24, 2021 6:34 am
by Shockr
Someone mentioned about a stressful trading day. This was my morning.
Big drawdown.
Re: XARD - Simple Trend Following Trading System
Posted: Wed Feb 24, 2021 6:55 am
by Shockr
Here was another big drawdown. When I got up this morning everything was at the bottom. First trade was as soon as price crossed above the two MAs. Got out when red ball appeared. Waited for a pullback below the MAs; got in again when price crossed above the MAs. I expected to see a triangle formed here; but it didn't happen. Price moved considerably lower. Again I expected to see a triangle, but no. I got impatient and entered again when price crossed above the MAs. Then a down triangle formed! But with the huge blue circle at the bottom and the background also blue, I decided to "sit on my hands" and wait for the market to change. The following drawdown took me to over a -7%!! And I was only using 0.02 lots per trade.
But finally the triangle formed that I was waiting for. I eventually took out both trade with a good profit.
Re: XARD - Simple Trend Following Trading System
Posted: Wed Feb 24, 2021 7:17 am
by Cladi39
Shockr wrote: Wed Feb 24, 2021 6:34 am
Someone mentioned about a stressful trading day. This was my morning.IG US30 2.23.21 .png
Big drawdown.
Why you take buy trades there? price steel down trend. Dont forget the basic of trade.
Re: XARD - Simple Trend Following Trading System
Posted: Wed Feb 24, 2021 8:12 am
by AlexBello
Shockr wrote: Wed Feb 24, 2021 6:55 am
Here was another big drawdown.
Buying below Daily open line is not recommended, as far as I understand the rules. Though, no strict rules here).
Re: XARD - Simple Trend Following Trading System
Posted: Wed Feb 24, 2021 8:19 am
by jayjaytrader
Shockr wrote: Wed Feb 24, 2021 6:55 am
Here was another big drawdown. When I got up this morning everything was at the bottom. First trade was as soon as price crossed above the two MAs. Got out when red ball appeared. Waited for a pullback below the MAs; got in again when price crossed above the MAs. I expected to see a triangle formed here; but it didn't happen. Price moved considerably lower. Again I expected to see a triangle, but no. I got impatient and entered again when price crossed above the MAs. Then a down triangle formed! But with the huge blue circle at the bottom and the background also blue, I decided to "sit on my hands" and wait for the market to change. The following drawdown took me to over a -7%!! And I was only using 0.02 lots per trade.
But finally the triangle formed that I was waiting for. I eventually took out both trade with a good profit.IG spx500 2323.21 Terminal.png
To complement Cladi39, you should never have taken those Buy trades BELOW the Open. They are invalid.
The open is the line in the sand, always buy above and sell below this line to improve your odds.
Would you buy a developing bearish Daily candle?
Re: XARD - Simple Trend Following Trading System
Posted: Wed Feb 24, 2021 8:22 am
by tonnogueira
Cladi39 wrote: Wed Feb 24, 2021 7:17 am
Why you take buy trades there? price steel down trend. Dont forget the basic of trade.
I was going to say the same thing
Re: XARD - Simple Trend Following Trading System
Posted: Wed Feb 24, 2021 11:59 am
by sashadeol
My 2 cents, I think we all wait for 2nd DOT and then take trades. The above examples did not have the 2nd Dot, and XARD has tried to help visualize the 2nd Dot with help of Triangle formation. Seniors can correct me if I am mistaken anywhere.
I am training myself to look for 2nd Dot and only then trade.
Re: XARD - Simple Trend Following Trading System
Posted: Wed Feb 24, 2021 1:16 pm
by Shockr
Cladi39 wrote: Wed Feb 24, 2021 7:17 am
Why you take buy trades there? price steel down trend. Dont forget the basic of trade.
And where is the end of your down trend: The big blue circle! I would have loved that big down trend, but I was not in the market yet. No one reads; only look at pictures.
Re: XARD - Simple Trend Following Trading System
Posted: Wed Feb 24, 2021 2:07 pm
by warwar
Cladi39 wrote: Wed Feb 24, 2021 7:17 am
Why you take buy trades there? price steel down trend. Dont forget the basic of trade.
This trade was successful hit the tp . Now i know that this kind of trade is risky. Thank you Clad for explaining well the trend.
Re: XARD - Simple Trend Following Trading System
Posted: Wed Feb 24, 2021 3:19 pm
by kue92
Shockr wrote: Wed Feb 24, 2021 1:16 pm
And where is the end of your down trend: The big blue circle! I would have loved that big down trend, but I was not in the market yet. No one reads; only look at pictures.
down trend end when uptrend starts. look at higher tf for confirmation. the blue circle can be repainted multiple times, don't simply use it as the start of new uptrend, it's risky