Hi Everyone! I used the REPLAY TOOL to try to make it as if we were trading this LIVE (in real time) in an effort to try to get you to understand. Hope this may help you understand a bit better.
Thanks again for your time, patience and support!
Happy Trading and Stay Awesome!
David
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UPDATE:
I'm about to get back to work... BUSY day later on today...
Please do not ask me what the price action is going to do in comments or private message. I'm not providing up to the hour updates for when to buy, sell, open or close a position. I do not have the time to do that with all I have been doing the past several months with my office remodel and platform build.
Thank you for understanding, your patience, your time and support!
I want people to learn how to FISH themselves instead of relying on someone else to FISH FOR THEM.
If someone said, "Hey man, you ought to buy this stock, this crypto, etc..." I want you to be able to look at the indicators for yourself and determine if you actually should buy that stock, crypto, etc... on your own without depending on someone else.
Stay Awesome!
David
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UPDATE:
I'm getting some sleep... Big day later!
Stay Awesome!
David
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UPDATE:
Message to those looking at older material of mine in my public profile...
Let me say this...
The further you go back, the less beneficial it will be to you...
I had not created Bad Ass B-Bands (The idea for it...) not even a year ago yet.
Bad Ass B-Bands OPENED my eyes to even more things and how the Phoenix Ascending indicator could be used with it.
I decided to search for ANOTHER indicator to go on top of the price bars. Why?
Because I wanted to see if I could create a way to see VISUALLY inside another indicator on the price bars in a similar way we see how the price action could move because of occurrences within Phoenix Ascending. I wanted to see if we could determine where the price bars could be at any given time inside this indicator BASED ON what we see inside the Phoenix Ascending Indicator.
My first choice was John Bollinger’s “Bollinger Bands.” Also, it just so happened I was invited to the “Streamers Beta Channel.” Another great guy to follow is tradingview.com/u/DadShark/ @DadShark He was the one who gave me the idea to give Bollinger Bands a try first. I already knew I wanted to plot MULTIPLE Bands. It was a matter of determining what “Standard Deviation” I was going to setup for each Bollinger Band (Which creates the amount of spacing between the Bollinger Bands). I chose to try Fibonacci math for the Standard Deviation in the settings for each Bollinger band (1.0, 1.618, 2.618 and 3.618). I also use Fibonacci math on my Pitchforks for Diagonal Fibonacci Extension and Retrace Levels.
After a few months I determined it would be best to keep it simple by determining WHICH B-Bands could act as support or resistance at any given time. There was not enough consistency to say the price action will be on this particular B-Band if the Red RSI is this Level; the Blue LSMA is this level; the White Energy is this level and the Green Line is this Level. I found it was best to stick to WHICH B-Bands will act as “support” and/or “resistance” based on what we are seeing inside Phoenix Ascending indicator.
This is a “mission” I’ve been working on for several years. My goal is to make LEARNING what I’ve learned thus far EASIER to ‘learn” in a much shorter period of time. I’m STILL learning… ALWAYS LEARNING… There’s ALWAYS room for growth…. ALWAYS…. It also helps to have an “open mind.”
The further you go back, the less beneficial it will be to you...
I had not created Bad Ass B-Bands (The idea for it...) not even a year ago yet.
Bad Ass B-Bands OPENED my eyes to even more things and how the Phoenix Ascending indicator could be used with it.
I decided to search for ANOTHER indicator to go on top of the price bars. Why?
Because I wanted to see if I could create a way to see VISUALLY inside another indicator on the price bars in a similar way we see how the price action could move because of occurrences within Phoenix Ascending. I wanted to see if we could determine where the price bars could be at any given time inside this indicator BASED ON what we see inside the Phoenix Ascending Indicator.
My first choice was John Bollinger’s “Bollinger Bands.” Also, it just so happened I was invited to the “Streamers Beta Channel.” Another great guy to follow is tradingview.com/u/DadShark/@DadShark He was the one who gave me the idea to give Bollinger Bands a try first. I already knew I wanted to plot MULTIPLE Bands. It was a matter of determining what “Standard Deviation” I was going to setup for each Bollinger Band (Which creates the amount of spacing between the Bollinger Bands). I chose to try Fibonacci math for the Standard Deviation in the settings for each Bollinger band (1.0, 1.618, 2.618 and 3.618). I also use Fibonacci math on my Pitchforks for Diagonal Fibonacci Extension and Retrace Levels.
After a few months I determined it would be best to keep it simple by determining WHICH B-Bands could act as support or resistance at any given time. There was not enough consistency to say the price action will be on this particular B-Band if the Red RSI is this Level; the Blue LSMA is this level; the White Energy is this level and the Green Line is this Level. I found it was best to stick to WHICH B-Bands will act as “support” and/or “resistance” based on what we are seeing inside Phoenix Ascending indicator.
This is a “mission” I’ve been working on for several years. My goal is to make LEARNING what I’ve learned thus far EASIER to ‘learn” in a much shorter period of time. I’m STILL learning… ALWAYS LEARNING… There’s ALWAYS room for growth…. ALWAYS…. It also helps to have an “open mind.”
The only thing I wish DadShark would do is take time to explain WHY on a lot of things. All of his publications are spoken as though he assumes everyone knows what he's talking about. One of the main reasons he does not have a lot of followers may be because he is not taking the time to explain things in a way for others to understand his methods better. I don't know...
I still believe my method is superior. I'm not saying that to brag, boast, create an argument, etc... Is there a LOT to learn? Yes, but it is not too hard to learn. I determined after getting VERY SERIOUS about my analytics 5 years ago, I wanted something that can be understood by SEEING IT WITH YOUR OWN EYES. Explained in a way it can be SEEN...
One is BLIND without my indicators in my opinion...
Again, that's "my" opinion... Maybe there are other better indicators someone has that are better but have not been made pubic? Who knows? This is simply something I came up with on my own because I saw no real benefit following along the same traditional stuff I saw here on TradingView. There was too much GUESSING without REAL "content" to provide a REASON WHY the price may do this or that. NO ONE could ever "convince" me the price action has increased odds to do this or that... I had enough FOLLOWING and decided to go OUTSIDE THE BOX and create something that really takes away a LOT of the guess work. One actually has a fighting chance of being on the right side of the trade with my methods versus other "ideas" I saw on TradingView. While you will see many correct calls and a LOT of bad calls; there was simply no content I was seeing to tell me WHY. I wanted to know WHY... And CONVINCE me of WHY. Use some tools, indicators or something TECHNICAL to explain WHY and HOW. If one cannot do that for me, they cannot sell it to me... Meaning, it would appear as only a GUESS to me without a REAL calculated REASON "WHY."
fritbjorn
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I have been using your indicator since July. I am still struggling on figuring out when to exit a long position. I usually set a target but
As you are aware, ENTRY is important... The issue is the EXIT you mention.
One rule to consider is the following: If your ENTRY was at a point of major slippage with a huge wick on the Weekly; and you managed to make ENTRY in the "wick" of that slippage; that is "usually" a good one to keep open for a while.
If your ENTRY was not executed inside of "slippage," we must be of the mindset to be prepared to do one of the following: Don't allow the emotion of greed to keep you from taking partial profit to get some profit back in your capital book if the indicators suggest a move down. Does this mean you closed the trade entirely? No, you took PARTIAL profit. If the indicators indicate potential for the price action to fall further, you take more partial profit while letting the remainder ride. Some times there will be large percentage gains; sometimes less percentage gains. If margin trading, allow the magic of compounding; even with those small gains; COMPOUND over time. Focus on always keeping losses small and (where at all possible) our gains large. You can open another margin long if the indicators show signal to do so. However, don't be bull biased either. If the indicators are showing more downward pressure, don't trade against that pressure. If you're going to be in a trade, make it WITH the pressure (trend). This also depends on what kind of trading you are doing. You may be scalping, day trading, swing trading and investing. All of which should have different rules laid out to adhere to in order to allow the magic of compounding do its work; if you are margin trading. There's a number of things to get into. Don't be afraid to take some profits off the table if you have doubts of a bull trend continuing in the group of time frames you are using to determine WHEN you open and/or close a trade. Pick your spots (premium signals) Don't OVER-trade... KNOW your trend... Etc...