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Could you please let me know where I can find the BDC indie and how to use it.
Have not been active for quiet some time, problems now sorted. Looks like I got to start from scratch again.
Thanks John
hello John
welcome back! hope al lis well. I must add, that its a good indicator but behind an indicator is a concept. An idea, a price pattern based idea is conceived, formalted into a concept and then applied. If succesful it is shared with others. Then usually an indicator is created to automate some stuff (i don't like automation too much though) So I must Stress AGAIN, its not in the indicator's but the purpose of the indicator the concept behind it. For that you'll have to read Principle C ebook from the Advanced section. then start reading my Journal about 4-6 pages back I've further explained PC and BDC. Once you understand the principle C , logically there would be a need as to how to use principle C, this repetitive, higher probability pattern, this edge. So the question would be what criteria to use to make entries. The answer to that is BDC. Also explained in my journal.
cheers
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
and sorry for hijacking your journal mr. Guru no 007.
psst: I must admit, those IB's need to be shown on the chart. I seem to lose them on the chart. Powerful candle formations they are. And an IB on M5 is almost always a tight aims box on m1.
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
Nice trading Grant, I always enjoy seeing your charts.
Just a question. I notice on the first entry you didn't stop out at trigger candle low. I was just about to implement that as a hard rule for all of my trades. Is there any reason you've moved away from it? Or just this instance? Thanks.
I actually shut up shop as i was really f*&$ing annoyed with myself for having a bias of long when the big drop happened..... I should really have had a long and short PO set and in place but convinced myself that it was only going long.... (angry)
So rather than revenge trade or throw screens i calmly shut my pc down..... (rofl) (rofl) (rofl)
as its EJ and very new to me I'm still experimenting with SL management (actual pip amounts) but all the core rules are still the same. at the moment i have disaster stop at -10, then trigger candle move (low -3), then a +7 move to -5, then BE at 15 ish.....
like i said the routines are the same but the pip amounts are experimental
In this case the trigger candle has a low of 125.848, so i had a SL 3 pips below that which the retrace missed by about 1.5 pips....
