BeatlemaniaSA wrote: Wed Apr 03, 2024 2:16 am My setup now allows me to see all aspects of the financial asset I'm trading at a glance.

Haha, a bit nervous on those trades you were

I can't remember the exact article, but a trading coach once did a study on why 95% of all traders fail. He analyzed data from around 70,000 traders and the result was that most traders never let their trades run but closed their trades as soon as they had a little floating profit.

The average pips closed in profit were less than the loss generated by stop loss. Not because the trade was not good, but because trades were closed too quickly.

Trading is not a fight against the chart, it is a fight against your own mind and its pain tolerance.

Pain is caused by stop loss but also by floating profit that decreases.

If you learn not to let the pain get you down, you are one of the 5%

BeatlemaniaSA wrote: Wed Apr 03, 2024 2:19 am Sorry, can't help you with that. Maybe consider upgrading to Windows 11 if you are able to.

I will try upgrade windows 11!
Can you tell me if you only entry point when there is exactly a divergence and xu-ma 5 changes color?

vzulaks wrote: Wed Apr 03, 2024 2:29 am I will try to upgrade to Windows 11!
Can you tell me if you only enter a point when there is exactly a divergence and xu-ma 5 changes colour?

Not always but it is preferable. Yes, the entries will be later but less risky. With practice and experience, you'll be able to get in on trades maybe earlier. I also use the Gann Legacy indicator to calculate probable TP's and reversible points.

Samoth wrote: Wed Apr 03, 2024 2:28 am I can't remember the exact article, but a trading coach once did a study on why 95% of all traders fail. He analyzed data from around 70,000 traders and the result was that most traders never let their trades run but closed their trades as soon as they had a little floating profit.

The average pips closed in profit were less than the loss generated by stop loss. Not because the trade was not good, but because trades were closed too quickly.

Trading is not a fight against the chart, it is a fight against your mind and its pain tolerance.

Pain is caused by stop loss but also by floating profit that decreases.

If you learn not to let the pain get you down, you are one of the 5%

Amen to that brother

Samoth wrote: Wed Apr 03, 2024 2:28 am I can't remember the exact article, but a trading coach once did a study on why 95% of all traders fail. He analyzed data from around 70,000 traders and the result was that most traders never let their trades run but closed their trades as soon as they had a little floating profit.

The average pips closed in profit were less than the loss generated by stop loss. Not because the trade was not good, but because trades were closed too quickly.

Trading is not a fight against the chart, it is a fight against your own mind and its pain tolerance.

Pain is caused by stop loss but also by floating profit that decreases.

If you learn not to let the pain get you down, you are one of the 5%

Samoth,
do you use assistant to find entry points?

BeatlemaniaSA wrote: Wed Apr 03, 2024 2:50 am Not always but it is preferable. Yes, the entries will be later but less risky. With practice and experience, you'll be able to get in on trades maybe earlier. I also use the Gann Legacy indicator to calculate probable TP's and reversible points.

My entries point always occur earlier, and I'm experiencing a significant loss. I know you don't set stop-loss points as you mentioned, so I'm wondering if you trade within the session, or if you simply wait for reversal points on the H1 timeframe.

vzulaks wrote: Wed Apr 03, 2024 3:10 am My entries point always occur earlier, and I'm experiencing a significant loss. I know you don't set stop-loss points as you mentioned, so I'm wondering if you trade within the session, or if you simply wait for reversal points on the H1 timeframe.

Hmm, just from the statement above I can see that you are suffering from FOMO. Also, you seem to be speculating as to what price is going to do without first waiting for confirmation.

Learning to wait and practising PATIENCE are the greatest challenges that traders will be faced with.

With the setup now I can see ALL the timeframes but because of my work, I trade on the H1 TF now. Remember, less is more. Learn to wait for A+ setups. You will gain more than you lose.

vzulaks wrote: Wed Apr 03, 2024 3:04 am Samoth,
do you use assistant to find entry points?

Currently not, I am switching between my own setup and beatles, depending on my mood.

In my own one I trade the M5 into the H4 chart, mainly entering above/below the ATS true value line.

With beatles I trade the M30 chart into the daily, looking for entries with the bottom indicators.

BeatlemaniaSA wrote: Wed Apr 03, 2024 3:19 am Hmm, just from the statement above I can see that you are suffering from FOMO. Also, you seem to be speculating as to what price is going to do without first waiting for confirmation.

Learning to wait and practising PATIENCE are the greatest challenges that traders will be faced with.

With the setup now I can see ALL the timeframes but because of my work, I trade on the H1 TF now. Remember, less is more. Learn to wait for A+ setups. You will gain more than you lose.

You're absolutely right about my current psychology. I'm experiencing FOMO, and I've been trying very hard to grasp your system, but I haven't mastered it yet. Surely, it's because my psychology lacks the patience to find reversal points or entry points. I noticed that you previously entered items on the M30 timeframe, typically with around 2 entries per day, is that correct?

Samoth wrote: Wed Apr 03, 2024 3:22 am Currently not, I am switching between my own setup and beatles, depending on my mood.

In my own one I trade the M5 into the H4 chart, mainly entering above/below the ATS true value line.

With beatles I trade the M30 chart into the daily, looking for entries with the bottom indicators.

I have been following and practicing with Grade A and Grade B, but I can't control the movement from the box going up or down by about 22-25 pips as Dave demonstrated on YouTube. That means when the price is below the value, we buy when it exits below the value of the box, and when it exits above the value of the box, we sell, right? But when creating a gray box, the price won't be manipulated like the green box and green box with red border!