Minsk T20 - Banana 1H

[Minsk]

put this in your chart every day


 

Hey, Be Careful here... those charts for my long weekend contemplation... Following that system is simple but not EASY needs experience. 

 

Yes will be careful, it's a thing I will watch, not act on it, as it is not in my Trading Plan
 

[Minsk]

No trades today.
I was watching GBP-USD, I was waiting for it to break the level and give a banan signal.
It did break the level down and never looked back. 
So now I feel a little sour missing out on this big move, after getting a -0,5R here yesterday.

1-7-2022 GBP-USD missed big move.JPG

 
I already  think about what to work on in next batch.
The H1/m5 strategy is one of them, I would not have missed this one if it was in my trading plan. Screenshot below copied from Immy's trade.
Money Management, I understand being in DD is stressfull. So this has to be remedied. Thinking of a plan to remedy this situation. 
Capital preservation is an important factor to not get in DD situation. One thing to do is only take the most probable setups, don't settle for less. Then you can do the 5R and SL to BE at 2R.
Reading up about the FO box strategy. Maybe this can be an addition.

[Minsk]

Bank holiday in USA, so probably not much movement, but who knows.
1 - Trade Number: B4 -T11
2 - Pair Name: GBP-USD
3 - Signal Date: 4-7-2022
4 - Signal Chart Time: 11:00
5 - Signal Time Frame: 1H
6 - Signal Type and Number: Seed
7 - Buy or Sell: Buy 

8 - D1 Trend:  Down
9 - H4 Trend:  Up 
10 - H1 Trend:  Up 

11 - Risk Percentage: 1% 

Flowchart questions:
A - Is there an impulse move?
Yes, there  is, 3 candles, although the middle one isn't a trend candle really. 50 EMA on right side.

B - Is impulse move climactic?
No not climactic.

C - Is there a pause or a pullback?
Yes. It's a pullback.

D - Is the pullback impulsieve?
No, it gives a seed.  

12 - Post-Trade Comments: (Feelings, Analysis, What could have been differently, lessons)
It's a USA bank holiday, so not expecting much movement. So decided to use RR= 1:3 with SL to BE at 1R,  instead of 0,5:5 with SL at 2R. 
Officially this makes this trade a DS0 because this is not in my trading plan. In hindsight, I should not have taken this trade, because it didn't fit my trading plan.
Then I didn't set the ATM correctly, it was on 1% risk, with SL to BE at 2R and target 5R, and  I noticed when the trade was already running. So I had to draw green lines to see when SL should be moved and to see where 3R would be.
The 15:00 pinbar made me think this could turn around and not go for 3R. But I withstood the thought of tinkering and just let it run. System knows better than me how to make a profit so stay out.
All in all a bit of a mess.
Result = BE.

13 - Discipline Score For this Trade: DS0 
13.1- If applicable, what is the Reason for DS0:  changing Risk Management

14 - Discipline Score Running Total: 7/11 = 0,64
 
 

[immy]

I have noticed this in the past as well. You take Signals, you don't trade the Context. It's ok that way as well. that is how we learn but just to help you a bit.

1. Where is the IMPULSE Wave? where is it? 

If you do NOT have a good answer to this question, the flowchart BREAKS... How did you convince yourself there was an impulse wave? 

2. The SEED signal should be MUCH smaller than the candle to the left. 

I suggest NOT taking Seeds on GU, and taking a lot of the 10 pips seeds on UJ. I suggest taking only Bananas on the GU and EU. 

I would also suggest against the use of limit buy/sell orders for now, that is an advanced technique. 
 
 

[Minsk]

I have noticed this in the past as well. You take Signals, you don't trade the Context. It's ok that way as well. that is how we learn but just to help you a bit.

1. Where is the IMPULSE Wave? where is it? 

If you do NOT have a good answer to this question, the flowchart BREAKS... How did you convince yourself there was an impulse wave? 

2. The SEED signal should be MUCH smaller than the candle to the left. 

I suggest NOT taking Seeds on GU, and taking a lot of the 10 pips seeds on UJ. I suggest taking only Bananas on the GU and EU. 

I would also suggest against the use of limit buy/sell orders for now, that is an advanced technique. 
 
 

 

Hmm, yes. The impuls it not really an impulse of 3 candles. It has only 1 trend candle.
What I saw was, 3 white candles and 5 and 10 ema separating. I did not pay attention to what sort of candles they were.
Then I see a seed and it was just below 20 pips. It's indeed not smaller than candle to the left.
And to make it even worse, I hit the wrong button in ATM, I clicked a market order by accident.

Suggestions will be implemented.

This was really crappy

 

[immy]

I have noticed this in the past as well. You take Signals, you don't trade the Context. It's ok that way as well. that is how we learn but just to help you a bit.

1. Where is the IMPULSE Wave? where is it? 

If you do NOT have a good answer to this question, the flowchart BREAKS... How did you convince yourself there was an impulse wave? 

2. The SEED signal should be MUCH smaller than the candle to the left. 

I suggest NOT taking Seeds on GU, and taking a lot of the 10 pips seeds on UJ. I suggest taking only Bananas on the GU and EU. 

I would also suggest against the use of limit buy/sell orders for now, that is an advanced technique. 
 
 




 

Hmm, yes. The impuls it not really an impulse of 3 candles. It has only 1 trend candle.
What I saw was, 3 white candles and 5 and 10 ema separating. I did not pay attention to what sort of candles they were.
Then I see a seed and it was just below 20 pips. It's indeed not smaller than candle to the left.
And to make it even worse, I hit the wrong button in ATM, I clicked a market order by accident.

Suggestions will be implemented.

This was really crappy

 



 

These are not three Bull Candles

One of them is a bullish TC the other two before the TC are RANGE candles. 


 
 
 

[immy]

9 - H4 Trend:  Up 
Question: How did you concolude that H4 trend was up ?

IT was sideways to down. 
 
 

 

 

[immy]

9 - H4 Trend:  Up 
Question: How did you concolude that H4 trend was up ?

IT was sideways to down. 
 
 



 

 


 

This might be a bit of a change of the method but it is not.

Stick to H1 time frame but do this... don't complicate matters, don't look at h1, or D1. 

Look at H1 only but do this first 

Have the momentum settings on the Banna Trend Indicator off. 

It will show you 10 and 20 ema and also show the 100 ema, (slower ema shown) 

------------------This simple trick will ensure you are always in line with trend. The daily trend and the 4 hourly trend. You will miss some trades, but you will have a higher win rate, and your trades will hit 5R targets. 


It is one mighty simple rule the investors of the world use. All around the world. Trend followers, like us, simple want to trade when there are trends... 

Go Long Only (on signals) when the Signal is above 10, 10 is above 20, and 20 is above 100. No mingled.
Go Short Only (on signals) when the Signal is below 10 and 10 is below 20 and 20 is below 100. Not mingled.... 
 
 

[Minsk]

9 - H4 Trend:  Up 
Question: How did you concolude that H4 trend was up ?

IT was sideways to down. 
 
 




 

 



 

This might be a bit of a change of the method but it is not.

Stick to H1 time frame but do this... don't complicate matters, don't look at h1, or D1. 

Look at H1 only but do this first 

Have the momentum settings on the Banna Trend Indicator off. 

It will show you 10 and 20 ema and also show the 100 ema, (slower ema shown) 

------------------This simple trick will ensure you are always in line with trend. The daily trend and the 4 hourly trend. You will miss some trades, but you will have a higher win rate, and your trades will hit 5R targets. 


It is one mighty simple rule the investors of the world use. All around the world. Trend followers, like us, simple want to trade when there are trends... 

Go Long Only (on signals) when the Signal is above 10, 10 is above 20, and 20 is above 100. No mingled.
Go Short Only (on signals) when the Signal is below 10 and 10 is below 20 and 20 is below 100. Not mingled.... 
 
 

 

i'll change my template to the settings you suggested.

 

[Minsk]

@Immy, can you help me out with the setting?

This is how I have it now, but there is no 10 or 20 EMA in my chart. Only have 50 and 100.

Not changed anything in bananaindicator itself