1) Questions about re-entries
If you don't win with the signals currently, and want to take re-entries - then I won't answer the re-entry questions anymore
A re-entry is more advanced and requires to enter and exit like a sniper
You already know when to re-enter or not based on EMA vs CLOUD
In trading, if you missed the move, you missed the move
No need to FOMO, chose another index, forex pair, stocks, etc instead.
2) Checklist when taking a trade
Our Algo builder is already a technical analysis checklist but as you understood, you have yours to do for each trade
Takes a few seconds per trade
1 - what was the previous cycle volatility (don't forget to look at the cycle 0 too)
2 - Is there any S/R near? How strong are they? Did we hit them once, a few times, never before recently
3 - what is my leading trend color
When trading an intraday timeframe (let's say DAX m2), I don't look at m1, m5. I don't look at what DOW/SPX do, what S/R they hit to justify what DAX may do or not
Yes this makes sense but we made those models so that each asset/timeframe can be treated separately
Don't try to look for correlations - they exist but for intraday honestly, we don't care much. DAX and DOW could diverge and both trades could win
The same idea between SPX/DOW/NASDAQ - it's not because the NAS goes down and DOW goes up that you'll take a bigger pullback on your DOW/NAS trade
Don't overcomplicate things. All those correlations are real but this is too much data for you and will prevent you 8 times out of 10 to take the good trades
3) Even if the pullback happens on the signal candle, analyze the situation anyway
A Pullback on a signal candle but facing a strong S/R we're about to hit the first time - the pullback will never fail you
Worst case you miss the move and that's ok
4) This is ok to have losers, to miss some trades
However, this will never be OK to be monitoring, to see the high-reward (during a volatile cycle) and failing it (not taking it, SL/BE too early)
5)
Embrace the trading price action
Accept it will rarely go in a straight line
Accept it will often come back near the BE price and then go in the expected direction
Accept that SL/BE + pullback is always a good idea when against the leading trend or hitting a strong S/R for the first time
Learn to evaluate your risk with your checklist. The more risks you identify, the bigger of a pullback
Missing some trades is ok in case you wait for a bigger pullback but it didn't happen - this is totally OK
6) For playing reverse, never rush
Wait for a pullback past on candle close, then for a green candle on close for a long/for a red candle on close for a short
This technique avoids a lot of losses
7) is this a good idea to play the high-reward trades only?
You need to figure that out by yourselves as it could be a good idea for some, a terrible idea for others
If there are 1 of those trades every 1-3 days and if you failed it, you won't win
Experience comes from taking trades
8) if you need to stick with 2 indices, I recommend DAX and DOW
9)
m1 is perfect when it looks like it's going to range for the day
m1 is a more advanced level as requires more reactivity
Up to you to choose the best for you
m2 is the default best indices system for new traders
10) The high-reward trades can be anticipated
Let's say we're in a LONG with green leading trend and there are tons of S/Rs just above and below the next S/Rs are far
We know that if we reverse on them and drop a bit and if the leading trend becomes RED that a high-reward setup could happen
Doesn't mean I'll take the short without signal.
It means I'll prepare myself mentally to take this trade. Means I won't go out for example if I think a high-reward trade could happen shortly
11) Questions about trades during non-volatile cycles
I don't trade them and I don't expect you to trade them either
This is the time where we rest and reset our EQ capital
If you take them, don't tell me as I won't support them
If you do take them, take responsibility for those trades and knowing those are risky then... use a big pullback (as that's our best tool to hedge our risk)
12) Fibonacci zones
When stuck in a Fibonacci zone, we often range right? and do a ping pong price action between the Fibonacci bands
What does it tell us being in a Fibo zone then?
It's likely gonna range, so if we get a signal and the candles are in a FIBO zone, a bigger pullback is a superb (and mandatory) idea