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Thank you for your input. The results are very good, considering the amount of trades taken. You will see that if you take 4-6 trades a day, and choose them with a little more of discretion, you will get your 90-100% success rate.
Your remarks : "The only addition that no chart or method can give is the stuff inside the trader.
The motivation, focus, patience, discipline, tenacity, endurance, and innate understanding of who they are,
what they have decided to do and how" are so correct and to the point.
About your 4Range + 8Range combination. I was looking at Method1 today on the 6E and noticed that when I have an entry bar on the 4Range chart, the 8Range setup candle was still forming and didn't close.
This setup candle still forming is on the EMA(5) and counts as the at least 2 bars or more requirement. Do you consider this a valid signal and take the trade although this second candle with the slope of the EMA(5) down isn't closed?
I saw this happening 3 or 4 times and they all worked, I'd just like to confirm that this is how you trade too.
Your signals are valid. You do not need to wait for the close on the Higher Time frame if you get a valid entry on the 4 Range. The reason is that the 8 range still has way to go before the close and the Entry on the 4 Range will continue this trend. Nice entries !!
I haven't heard of anyone but perryg getting these kinds of results with this system, and I've been watching this thread on and off for a good while. I've seen a lot of followers come and go, including myself. Maybe it goes to prove, that there are certain aspects of all discretionary methods that just can't be taught. Those are what is going to make that system profitable for one guy, but not for the guy sitting next to him. You have to find a method that is personalized to you in order to make it work for you.
Hello floreacilin.
Yes I have the charts.
I trade off a 2 Momentum chart and utilize Delta.
I have initial targets of 2 ticks as limit orders and adjust in real time
if and when.
Attached is an example from morning of the 14th and 15th.
It will raise more questions than answers I think as its quite specific to how I've chosen to trade.
I'm not sure how I can help?.
Questions are essential imo.
The problem is we have to find our own questions.
This isn't to say, get lost and sort it out yourself and nor is is meant to be some cryptic nonsense.
I think my point is this:
Look at any particular day you traded and at each and every trade.
Setting a profit and stop on a trade can be misleading.
I imagine Perry has "suggested" things as a frame work to help, but just because we set levels means
absolutely nothing to the market.
What I found for myself (and this is just me after almost 25 years of this) is that "confirmation"
is probably the most miss understood word in trading.
We (imo) only get confirmation AFTER the fact.
Where as "conventional thinking" wants to see or have confirmation BEFORE the fact.
What are we saying here ?
"Mr or Mrs Market can you please tell me what is GOING to happen ?"
All we can work with is a probability, or propensity of something happening.
Setting profit and stops the same on every trade can, imo, only be done if we have looked at enough data
to have established a probability of those levels giving us a consistency of profit over time.
How a trader reacts/deals with all the profits and losses during that period of consistency is another issue
that in of itself must not affect the consistency.
On the 15th I made profits, losses, entered and exited at what "turned out to be" good prices and also
not good prices.
There is no way of actually knowing until AFTER the fact.
I'm writing too much here.
All I mean to say is look INTO each of our trades.
So questions, questions....they seem unquestionably necessary.
But we must be able to understand our question
in order to understand the answer!
Just as in trading, entering a trade is like asking a question and
we wont get the answer until AFTER we've asked it.
All we can work with during a trade is to read the "attitude"
of who we are asking the question of, so we can take appropriate action.
Been reading the thread and got hit by a question :
On post #92 you showed an example of an aggressive entry. Looking at the picture, the entry bar is the first bar with the slope of the EMA(5) down. Second bar with EMA(5) slope down missing. This means not all the conditions are positive, am I right?
On post #391 you say that "the Entry bar was the high of 2 bars before. i.e. you had every thing in your favor", which is in agreement with the previous post #92 (but on the short side).
QUESTION:
Is this what do you call an aggressive entry? If so, you would only need at least 1 bar up or down?
. The EMA(5) - the black line - must have gone UP/DOWN at least 1 bar
. Entry bar is the high/low of the 2 previous bars
Or am I over complicating everything?
I've re-attached your picture, hope you don't mind.