BONZ. Using technical indicators to trade.

[IgazI]

Do you use the open price? it's like plotting a 1 SMA of the close and a 1 SMA of the close shifted -1 on the same chart, why would anyone do that?

it is possible to plot HLC in MT4. . .

maybe Avery could throw you a bone

[Don_xyZ]

Do you use the open price? it's like plotting a 1 SMA of the close and a 1 SMA of the close shifted -1 on the same chart, why would anyone do that?

it is possible to plot HLC in MT4. . .

maybe Avery could throw you a bone

Yes, you're right. Current candle's open price is the close price of previous bar, of course. Unless it's on stocks where gaps abound. OHLC is for checking the past. For live trading, there is really no need for even HL as C alone is already enough. Like you said...... simplify, yes?

Ah, Cap is too busy with his stuff.

[Don_xyZ]

Ok, updated the links once again to add some notes on where each trading method is mentioned. Like this, it's gonna be easier for everyone to find it.

And I also find it pleasing to the eyes to have small rectangles instead of arrows for my fractal indicator because it doesn't take up much space and it shows up nicely when I take screenshots.

ScreenHunter 98.png (19.74 KiB) Viewed 13157 times

[IgazI]

Owh... apparently it's out of my league

Gonna learn how to use Bing, maybe that's a noob-friendly route.

Not true

You just need something like Microsoft Whiteboard where you can map everything out with drawings and attach pictures and links.

Explain everything to yourself like you're teaching a 12 year old; if you can do that then you understand it well enough to turn to the next page.

[StylusK]

I forgot to post yesterday, these were the trades.

MA-EU-Monday-17-4.png (45.47 KiB) Viewed 13065 times

MA-EU-Tuesday-18-4.png (49.6 KiB) Viewed 13065 times

I today I grabbed 2R on one of them. The 1R trades kind of cancelled each other out. I still don't have rhyme or reason to pick more than 1R, frankly I only went for 2R because price had dropped enough.

[Don_xyZ]

I forgot to post yesterday, these were the trades.

MA-EU-Monday-17-4.png
MA-EU-Tuesday-18-4.png

I today I grabbed 2R on one of them. The 1R trades kind of cancelled each other out. I still don't have rhyme or reason to pick more than 1R, frankly I only went for 2R because price had dropped enough.

So far, you're doing good by following the entry rules.
As for R multiple, do whatever you feel comfortable. If you're not feeling comfy with more than 1R then do the Slayer. Some people here were used to only getting sub 1R, 1R or up to 1.5R but after a while they see the benefit of trying to go beyond it. Guess what, they have been doing great. Maybe you can see this in the future also. Just take your time and learn the rope.

[StylusK]

Chop chop 2 to 5. In some weird way I wanted to see this one play out to see what a bad day looked like. I think I kind of have the entry part down, but I don't see much in common with the losing trades to determine how I can reduce the bad ones, or well, with the winning ones either for that matter hah .

MA-EU-Thursday-20-4.png (52.33 KiB) Viewed 12963 times

Last week I thought about reducing the stop size to the candle's low instead of the swing low. Grabbing more R seems easier that way than with a low placed at a swing, a bit more losses but the RR could end up looking much better. I'll see.

[Don_xyZ]

Chop chop 2 to 5. In some weird way I wanted to see this one play out to see what a bad day looked like. I think I kind of have the entry part down, but I don't see much in common with the losing trades to determine how I can reduce the bad ones, or well, with the winning ones either for that matter hah .

MA-EU-Thursday-20-4.png

Last week I thought about reducing the stop size to the candle's low instead of the swing low. Grabbing more R seems easier that way than with a low placed at a swing, a bit more losses but the RR could end up looking much better. I'll see.

I've said this so many times but just in case you missed it... you have to see yourself getting more R to be able to actually get that extra R. Observe, gather stats, and then picture yourself getting them.

[Don_xyZ]

Htf trading with FrInger is good. Of course, ideally, you use Fractal 3 instead of 5 but since we don't have it in android MT4 so we use whatever we have.

Screenshot_20230422-213650.png (166.05 KiB) Viewed 12866 times

Screenshot_20230422-214021.png (158.34 KiB) Viewed 12865 times

It makes sense.

[IgazI]

If you want to use 'less fractal' then you can look at it like this:
- price makes a fractal
- somewhere after the fractal extreme, price defined a box
- price either makes new boxes in the direction of the fractal extreme
or it fails and falls outside of the opposite end of the box

darvas.png (148.63 KiB) Viewed 12854 times