perfect trade! the psar on higher tf to determine the trend looks amazing.
I dont watch at 4h chart because i use to trade 5min, I look at 15min and 30min tf for a strong supports and resistances and a general view.
I love this example abouth using higher tf
In more visual terms, we have the difference between this:
And this:
I think you could have used a higher tp on the 15 min and specially on euraud.
you have to wait to the close of the second bar after the fractal has appeared in order not to have repainting issues. Now Iām trading with Donchian channel instead of bb, combined with fractals+ HA + ZZ3+volumes, so i feel like a soldier with 6 or 7 guns, wich force me to watch the market with the same face of the guy on the previous photo;).
well, after trying this system for a couple of month i think i have found a way to reduce the risk/reward ratio.
putting a sl at previous dot (sometimes over 30 pips) and going for between 5 and 12 pips can be trully painful; in order to recover 5 loses you need about 20 wining trades.
Using a tighter sl doesnt work, cause price use to oscillate, and return to the breakout line to bounce again on the original direccion, bringing us a few pips. Then why not to reenter the trade on that rebound, using the same sl and tp used at 1st trade?
Is that another way to trade fibo retracements? yes and no. Yes because a lot of times the price bounce on the 76-68 lvl. No cause we are not using confirmed dots, and some times the retracement is small, and its dificult to see clearly where the lines areā¦ I think that using the breakout line is easier, and usually there is less than 3 pips between fibos and break lines.
Hello Blizard.
I love your naked strategy and Im trying it out right now. I was just wondering how do I set my MinBars to ā4ā. I know all platforms are different but any help would be appreciated. Thanks so much for sharing. You made my day.
My platform automatically draws on the connecting lines. I use a Web Based Platform provided by FXCM so that its compatible with Mac. But I think they must automatically choose the MinBars cause I canāt find any where to change the setting. Anyway first trade using Blizards technique got as high as 8pips them I closed out at 4.9 when I could see price couldnāt penetrate the P Pivot line.
Ok, so where the pink arrow is, there was a blue dot, I placed a sell after the break of the TL, am I missing something? Any insight will help. Thanks!
Great Webinar today. I learned much and had a couple of nice trades. When is the next session? I can see how this method is a process in developing the knack. I was away from trading for awhile, it is good to be back with Simple andā¦
but even if the fractal has painted and 2 bars later price pushes above where the fractal was painted, wont the fractal be repainted as the previous fractal no longer represents the highest point anymore? i back tested your bollinger band + fractal system with amazing results, but then realised thats only because im backtesting with the advantage of knowing where the fractals ultimately end up. wow thats a lot of indicators more than 7 guns your carrying a bazooka. i would like to hear about your ongoing results please. i still think your bollinger band system has potential.
yes but if you were to only enter on the retracements sure this would utilize a tighter stop loss and you could capitalize on the take profit. but you would miss out on all the trades where price doesnāt retrace back to the trend line. but maybe you would make more in the long run by only trading once price has retraced 50% back to the stop loss then trading 1:2 rr
Hi Guys, good webinar today got some nice trades in. The webinar was cut short as i had some technical issues but I am looking forward to trading tomorrow morning at 9am (New York) Here are the details:
I gotta say that Trading the 1m with crude is awesome. Since it moves so quickly you can be in and out even on fakeouts. Had a nice day. Here was the last trade I took.
we will place an oil trade or 2 tommorow sir. The problem is that not all of the participant have access to trade oil but the trades do look great so we can place some trade tommrow along with the usual pairs.
Hi Michel, I am using a Web Based Trading platform and so far I have had 5 profitable trades in a row with this ānaked Systemā. No problems, I trade it manually though. I donāt use any of these EAs.
I trade M1 on FXCMās Web Based Platform. I like to use a Dynamic Trailing stop of -10 Pips including the spread. I takes you nicely over into the green. Then if I come up against any heavy support or Resistance levels I exit manually. I use Hourly Pivot Points and Previous Dayās High & Low. I also manually add in Fibonacci retracements if relevant. I am currently Long +20 pips on the EUR/USD the trailing stop is unto +9.6. I got in after a massive Bullish spike which I can only assume was caused by the Eurozoneās announcement of growth package worth 120bn euros. I donāt trade the news but I keep an eye on it. However I did not see this coming. I had to go search the web to see what was going onā¦
Anyway, Trailing stops are good but some times you need to take a manual exit up against string support or Resistance.
