Discussing the article: "Mastering Quick Trades: Overcoming Execution Paralysis"
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Extremely useful Eugene, great adaptation, primo confluence
Check out the new article: Mastering Quick Trades: Overcoming Execution Paralysis.
Author: Eugene Mmene
Great article, ive built something quite similar with pinescript, im not that great with MQL5. I tried loading it up and testing on XAUUSD 1mTF and 15mTF but it doesnt seem to work on backtesting
Stuart #:
Great article, ive built something quite similar with pinescript, im not that great with MQL5. I tried loading it up and testing on XAUUSD 1mTF and 15mTF but it doesnt seem to work on backtesting
Thank you ,Great article, ive built something quite similar with pinescript, im not that great with MQL5. I tried loading it up and testing on XAUUSD 1mTF and 15mTF but it doesnt seem to work on backtesting
Aah very nice good for you you tries testing the indicator?! Its a primarily an indicator I also found a challenge to backtest it but you can apply it on a chart and see if the signals generated were actuall good and valid trading moves that you would have executed.its more easier
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Check out the new article: Mastering Quick Trades: Overcoming Execution Paralysis.
The UT BOT ATR Trailing Indicator is a personal and customizable indicator that is very effective for traders who like to make quick decisions and make money from differences in price referred to as short-term trading (scalpers) and also proves to be vital and very effective for long-term traders (positional traders).
One of this prominent mental barriers and issues is that for most, if not all, traders who have been following price, there comes a time when eventually they face this familiar demon whereby they trace, anticipate, analyze, and finally spot a trade opportunity and are sure that it would be a profitable trade, but they have this voice at the back of their head that tells them, what if they are wrong? What if they lose money? And eventually this self-doubt and lack of confidence gets to them, and they have execution paralysis and do not enter the trade, and of course the trade eventually moves in their direction but without them. This causes a series of regrets and blunders.
Hence, they now open trades carelessly and enter trades at bad positions just because of FOMO (Fear Of Missing Out) and revenge trading, which eventually leads to more mistakes and eventually loss of money, and all this is caused by lack of confidence, self-doubt, and the voice at the back of their head whispering negative imaginations.
Now this indicator aims to address this by acting as a voice only that it will be visible on your chart screen, confirming to you that indeed you are right and should execute the trade with no doubts. Also, it can be used as an exit warning to avoid reversals and consolidations.
Author: Eugene Mmene