WezzaUK's Journal - Daily Fruit

[wezzauk]

DAX D1 Fruit trade update:

So I'm still in the trade and good profit at the moment, not sure what the DAX is going to do so very tempting to move stoploss.
The latest candle on my chart has closed below the Green line. Trade plan says to not move SL until price goes to the other side of the Gator.

InkedDAX30SBDaily-150118_LI.jpg

No other valid trade signals yet on any of the other pairs.

Thought...
Looking at the charts when the Gator is open and trending well, and a Fruit signal appears, a lot of the time the market carries on trending. Could this be a potential continuation signal and good place to add-on or enter a trade when price breaks the candle?

[immy]

Replying to "not sure where dax is heading@...

If you're ever sure what the dax is going to do next please let me know as well. Because I can only see at what's its doing right now and what's its down before. Based on that i can only have an idea of what it might do but I don't care about that either. The question I want to ask is, what is the method telling me.

And yes do have an add on signal, Right now. Actually two of them. One is the box low. You should have your PO below and SL above the box. And the other add on signal is based on the momentum bars. If today new abar 16/01/2018 finishes red you'll have 3 red bars. you have the momentum bars that are giving you an add on signal. Three Red Bars = Add on ...

so it's time to add on to this trade not time to move SL. Its just the beginning of this trade. Beginners are always tempted to bank small profits. But keep in mind this profit is not going to grow your account in the long run. According to the method the only way to raise your account is to add and let it do its thing and wait for an exit signal. We do not have an exit signal. so no exit.

[wezzauk]

Great pending order is in place.

Just a question about the 3 consecutive red candle entry. Is the entry normally at the break of the 3rd candle and stop at the other side of it?

[immy]

Read the Book , if read , then again. thanks

on the wave horizon. If you recall the previous post, this is what its doing now. it pulled down to green and possibly going into a 5 up.

You will be proven wrong ONLy if it goes above the high of the fruit.

and to answer the question above again... at this point the only point you will be proven wrong with this trade is when it goes above the fruit high. so the SL for add on will also be, at this point above the box high. often when you make entry on fruit and there is add on signal, with 3 red bars (sell) or three green bars for longs , red in this case, it creates a box level above/below the fruit, above the fruit in this case creating a box high. That is your SL. In the book i have divided a campaign into 3 stages. stage 1 is , in this case, as long as price stays above gator, this is the most lowest probability of success time, the only point for you to be proven wrong si above the box high/fruit high. 2ns stage is when it enters the gator. now its going your way and finally stage 3 is where you make money ... when it crosses the gator to the other side and gator opens ( down in this case)


hope it makes sense. please refer to the book.

The long perspective and Hunt Dot Signal



Why would i post this in your journal when you're going short? because this is what it is. Fruit entries will always be against the crowd.

[immy]

And at the end of the day, we find that it closed Down pretty strongly ... this trade has alot of potential now.

[immy]

And at the end of the day, we find that it closed Down pretty strongly ... this trade has alot of potential now.

Sometimes you will be kicked out of nice trends for brining Stop Loss too close. e..g in this bitcoint chart below. Had you reduced your SL to above the box high, you'd be B Trapped.

[wezzauk]

Thanks for the clarification Immy.
Couple of questions:

1) If the 3 red bars and box are very close together as in this trade, you would still take them both as add-ons? There doesn't need to be more of a space between them? It would almost be like taking a single add-on at double the usual risk?

2) I don't quite get the note on the 2nd image you posted above. "You won't get the chance to add-on using box and 3 red bars because the distance between the first entry and 2nd entry is too far, this increased the risk". Can you clarify this particular point. If the signal is valid then would that not be more confirmation the trade is going the right way?


Have opened another trade on USDCHF, Fruit signal on the D1 chart and what looks like a good angle.

USDCHFSBDaily-170118.png

[immy]

Hi

I'm not sure what you mean by "this trade" are you referring to your swissy trade or the DAX D1 trade? assuming its the later , it does not matter how close the add ons are. Its not a logical thing. Not much in trading is logical in the general sense. Stats tells us that it works this way.

The comment on the box is one you'd understand as you keep trading. But simply put if your first entry is at 100 with SL at 90 and you're going long. now comes an add on signal at 150 , box low is still at 90. that would require a fairly big SL. not worth it.

hope it makes sense

[wezzauk]

Thanks. understood!

[wezzauk]

The USDCHF long Fruit signal stopped out.
Still in the Dax trade.

InkedUSDCHFSBDaily-190118_LI.jpg