No Name Trading System - page 3
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
Hello everyone,
Ok, here is the deal. I decided to opt-out of the contest. I am working hard to maintain my discipline during trading and the contest is making me deviate from my rules and is placing undo pressure on me. With that said. I am going back to my original account and maintaining my trading rules.
I know this may not be important information to everyone, but I am sharing with you my trading journey in this thread (the good and the bad) and if you think this post is useless, then simply ignore it.
The point here is that discipline comes first and foremost, not winning contests with faulty discipline and money management.
Cheers,
I had downloaded your indicator, How to merge with two indicator ( MACD and Cycle GJH4 ) in the same window, projected Fibonacci support indicator and also can you give more details,When I use your mq4 indicator, my MT4 get very slow, so kindly advice and can you give clear explanation of technicaly, please.......
Hello everyone,
Just got out of a trade on the EURUSD.
Position: Long
Entry price: 1.39226 and 1.39026
Trade setup: Slow retracement, trend continuation on 1H, counter trend on 4H
Profit target: 1.39900
Stop-loss: 1.38900 (below support on 1H)
Exit price: 1.38900 (stop-loss
Profit: -45.2 PIPs
Lessons learned:
1) Confirmed that counter trend trades are riskier than trend or trend continuation
2) Trust support and resistance lines - should have set PT at resistance on 4H at 1.39506 and take smaller profit (i.e. less exposure) due to the higher risk involved; and should have traded in the direction of the 4H time-frame and not be fooled by the Triggerlines on the 1H time-frame. The Triggerlines did carry the trade in the initial direction but not to the extent I thought it would. So, my sense of direction was OK, but i stayed in the trade for too long.
3) Confirmed (and drilled it in my head) that Support and Resistance lines on higher time-frames are always stronger than those on smaller time-frames
So, at this stage i expect price to reach the first support level on 1H at 1.38489, then potentially go on to the next one on the 4H time-frame 1.37336 if the trend continues.
I hope this helps others in avoiding similar mistakes that I make (always stick to the rules).
Cheers,
I had downloaded your indicator, How to merge with two indicator ( MACD and Cycle GJH4 ) in the same window, projected Fibonacci support indicator and also can you give more details,When I use your mq4 indicator, my MT4 get very slow, so kindly advice and can you give clear explanation of technicaly, please.......
Hello Ortan,
To merge the two indicators first attached the MACD indicator, then drag and drop the cycle indicator on top of it. This should place both indicators in one window.
The projected Fibonacci support and resistance indicator should be available soon, it is currently in beta testing. You can get more information and be added to the email list by visiting the site in my signature below.
To avoid the computer getting too slow you need to set the number of bars to study in the Triggerline2 indicator to 300 and also if you are using the system on 1M chart it will get slower due to the rapid processing needed.
Technical details on the system are posted i the first post. Take your time reading through it and if you have any specific questions please feel free to drop me a post.
Happy trading.
Cheers,
tq friend
tq friend
You are welcome, let me know if you have any questions.
Hello everyone,
This is a general post to share with you a thought that crossed my mind today. I have noticed that my trading activities have experienced cycling nature where on one aspect of the cycle I would trade very well and then on another aspect I would have a loosing streak. Although loss is normal in trading, I am always interested as to the underlying cause of the losses, especially when they present themselves in a streak.
Upon analysis of my trading history I have discovered that during the loss streaks my trading decisions have deviated from the strategy rules that I have set for myself. Some how, inadvertently, my discipline seems to slip away and I begin taking unnecessary risks, or taking riskier trades, or simply taking trades on intuition rather than the solid rules (setups) that I have set in the plan. This is further supported by the fact that when I go back and re-read my plan and apply it to the letter, my trading begins to improve and I begin to rack up pips.
So, what is the moral of the story? It is always a good idea to re-visit your plan every once in a while or on a set schedule to re-affirm the principles in your head.
Cheers,
Hello everyone,
Just got out of a position on the EURUSD
Position: Short
Entry price: 1.35019, 1.35219, 1.35419, 1.35619 (5 lots each)
Trade setup: Slow retracement on 4H
Profit target: 1.34018
Stop-loss: 1.35660 and 1.35670 just above resistance on 1Hr
Exit price: .35660 and 1.35670
Profit: -137 PIPs
It looks like a fast retracement is setting up on the Daily chart. Will stay out for now.
Cheers,
It's always good to see a trader share his system and post updates as well. Thanks for taking the time to help all of us here.
Hello Master4x,
My pleasure. Should you have any questions please feel free to let me know.
Cheers,