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Hello All,
I had been a tiny bit from this forum because I'm developing a new indior for FX trading.
My indior is functioning well (till today) and ill share exactly the same with you guys because its finished.
I just have a problem , when I want to exit the trade I exit just a tiny bit afterwards (although I have profit but not the maximum)...
that I just want to ask , how do I detect the end of a upwards/downwards trend? Any indior or proposal ?
Thanks all in advance
Yes FerruFX . . I know, thats why I am trying to discuss some thoughts...Originally Posted by ;
You may attempt to place your targets at supply and demand places.
How about performing a historical analysis to find out if you find any commonalities in behaviour? I've been attempting to do this with oil and gold, but I dont know where to find a chart that goes back far enough. Does anybody know where I could lookup the exact price for oil prices at noon, then 2pm, 2:30 etc.. Throughout the past couple of months? Id like to find a chart that I can look at for every day between 10am - 3pm and see if I could pinpoint patterns.
The Lost Trade.
You simply have to setup some rules and run with them. What should you suspect signals the conclusion of a trend right now?
- Struggling to make a new lower low or greater?
- Price conflicting with a moving average you like?
- Price beginning to create larger and larger pullbacks?
- Daily / weekly / monthly service or resistance?
The purpose is this:
You can never know for sure when the trend is ending.
You just can't. You simply have to setup your profit accepting rules in a manner that you're comfortable with in order to ch as much of a movement as possible. Don't forget, though, you can't have the best of both worlds.
If you're trailing your stop very closely behind the trend:
- You are going to have stopped out until the trend is in fact over because and small retracement will take your position.
- You are going to see price go on without you and you're going to feel awful.
If you're trailing your discontinue very loosely behind the trend:
- You are going to give up a bigger percentage of this move because price retraces back to a trailing stop.
- You are going to feel awful.
The purpose is, you will need to opt for some rules and stick with them. If they make you feel uneasy then consider changing them. Just make sure you're tracking all your numbers so that you can see which works better at a good sample size of individual trades.
Allow me to know if you want more details. I wrote a blog article that discusses a few of the ideas http://tradergrowth.com/create-tradi...rofits-part-2/, but I'm not sure how well that applies to a question.
Indiors which are based on simple statistical manipulations of historical data are useless IMHO. An comprehension of market driving forces will make it possible for an individual to develop the confidence to take positions and maintain them cut them as necessary. Discovering when driving forces are changing direction provides a trader an edge as this happens before opinion changes and ultimately trend changes.
Most importantly indiors are used mostly to compensate for lack of comprehension as to why price motions.
I'd suggest removing all indiors out of the charts. Use Fibs, pivot points and correct supply/demand zones for specialized evaluations.
More importantly get to grips with economic information and develop a feel for how this impacts the price and total market sentiment.
New traders play with indiors. Turning the chart into pretty pictures is easy and provides the confidence to loose money efficiently.
Creating an comprehension of economic driving forces and the effect this has on belief is tougher and hence often overlooked, if in fact this ability makes trading easier.
You cant determine when the trend will probably finish or begin . .
Your purpose is to get on it and away from it with a profit . .
I really don't decide pips $$ until the trade just direction.
I also increase the trend if I feel that it's more to lighten or go up should I think its beginning to falter.
I don't examine charts to put trades but look at them to find out what others are thinking and listen to this sounds.
Normally when its nearing an end many are calling for additional drops or drops and that's time to get off and have another look.
Currently Im searching for a bit more consolidation in this US bull craze before jumping in again.
happy punting
I suppose you have considered the Parabolic SAR?
Hello Santos,
Setup with the easy rule,
Should you entry buy/sell on the which time period so you should shut on precisely the exact same time period.
Instance;
Buy entry signal on 4hr time period, and than Put Order on the 4hr TF near until the last buy signal or the last entry buy PO dropped
and reverse your place to follow the Economy Signal on 4 hr TF.
- 1st Signal Open Buy PO -- Hold if profit
- 2nd Signal Open Buy PO -- Hold if profit
- 3rd Signal Open Buy PO -- Hold if profit
- 4th Signal Open Buy PO ----- Minus Profit
- follow by 5th Signal Open Economy Signal -----
Close 1,2,3 4 Buy PO
the higher time period more better than the time period to grab the big move ...
Cheers
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