MT4: Multi Timeframe Price Action Tool (no indicators!)

YourFriend

Junior member
37 0
which question?

How to 100% accurately confirm that currently, at the time of confirmation on relevant time frame is really uptrend OR downtrend. I have few methods that i learned recently but would need more to protect myself even further. I am scared to death that, even if i lost entire balance, i would enter trading position on small correction which would look to me (my incorrect observation) as a change of trend.
 
M

member275544

0 0
How to 100% accurately confirm that currently, at the time of confirmation on relevant time frame is really uptrend OR downtrend. I have few methods that i learned recently but would need more to protect myself even further. I am scared to death that, even if i lost entire balance, i would enter trading position on small correction which would look to me (my incorrect observation) as a change of trend.

i would be focusing more on what do you do when the trend potentially changes as you must know nothing is 100% certain.
you don't need to be right all the time to be successful at this game. im sure your "few methods" will be more than adequate on determining the trend
 

YourFriend

Junior member
37 0
You also asked me whether i backtested (and if yes, how) the strategies. I haven't backtested anything. Neither entire ideas (strategies) nor anything on exact symbol BEFORE opening position on real account. However I have idea for this too but don't know how to implement it correctly: After i see that situation meets my needed conditions I actually open position on DEMO account of different broker. Due to Spread, this will always start in negative profit (loss) of course. The idea is to wait for loss (due to Spread, or even due to inaccurate decision) to go to zero and further in profit. When it does, it is visible that trend finally went to expected direction and at that time i could finally open a trade on real account that had already met conditions before opening identical position on DEMO account. Not sure if this idea could be defined as ''backtesting''

The idea could partially work but when loss on opened position reaches zero and goes into profit, this obviously mean that for particular most recent time frame I was correct with my trading direction (on demo). However we cannot know if profit (on demo) will further rise or will go back to zero and even loss. Partial solutions are to wait a little longer but at the same time this could be even bigger risk. Another solution is to create a ''rule'' that profit must be increasing all the way to minor R or S zone. If it does, i can assume it will be further increasing and i could enter position on real account.
 
 
AdBlock Detected

We get it, advertisements are annoying!

But it's thanks to our sponsors that access to Trade2Win remains free for all. By viewing our ads you help us pay our bills, so please support the site and disable your AdBlocker.

I've Disabled AdBlock