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Nova Volume Trading System

  • #2,881
  • Jul 17, 7:51am (8 hr ago) Jul 17, 7:51am (8 hr ago)
Quoting shimeji
Trade 1 — Short, −1R: Bearish EMA alignment and NOVA confirmation were present, but price reversed and hit the predefined stop-loss. Trade 2 — Short, +2R: A new bearish continuation setup formed. Price was rejected at the EMA structure, NOVA confirmed the downside momentum, and the target was reached. Trade 3 — Long, +2R: Price swept sell-side liquidity, reclaimed the EMA structure, and NOVA confirmed the bullish reversal. The target was reached. Trade 4 — Long, +2R: Following a pullback into support, the EMAs aligned bullishly and NOVA provided...

Congratulations on the profits. However, the 4th trade does not comply with the NOVA strategy rules. I don't think the EMAs on your chart are the 50, 100, and 200 EMA settings. The EMA crossovers are not pointing upwards. The NOVA signal zone is not green—meaning the conditions for a buy were not met—but it is still great that you made a profit.
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  • #2,882
  • Jul 17, 7:54am (8 hr ago) Jul 17, 7:54am (8 hr ago)
I'm making one trade per day, after the NY opening, after the first crossing of the averages. It's been working.
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  • #2,883
  • Jul 17, 7:59am (8 hr ago) Jul 17, 7:59am (8 hr ago)
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We should avoid entering trades in the area I’ve circled on the NOVA chart—and in similar situations. The background color on the NOVA indicator keeps switching between red and green, signaling market indecision.
  • #2,884
  • Jul 17, 1:01pm (3 hr ago) Jul 17, 1:01pm (3 hr ago)
Quoting ferjptrader
I'm making one trade per day, after the NY opening, after the first crossing of the averages. It's been working. {image}
This is exactly all you need... Honestly

Well done!
You can lead a horse to water, but you can't make it drink
  • #2,885
  • Jul 17, 1:04pm (3 hr ago) Jul 17, 1:04pm (3 hr ago)
Quoting tradernoname
{image} We should avoid entering trades in the area I’ve circled on the NOVA chart—and in similar situations. The background color on the NOVA indicator keeps switching between red and green, signaling market indecision.
Correct... Marking high and lows and waiting for a break is essential though during the range.
You can lead a horse to water, but you can't make it drink
  • #2,886
  • Jul 17, 1:07pm (3 hr ago) Jul 17, 1:07pm (3 hr ago)
Another one in the bag.
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  • #2,887
  • Jul 17, 1:53pm (2 hr 41 min ago) Jul 17, 1:53pm (2 hr 41 min ago)
Quoting ferjptrader
Another one in the bag. {image}
How much are you up by in terms of RR since you started?

Has it been profitable for you so far? Always like to know and understand how people are finding it.
You can lead a horse to water, but you can't make it drink
  • #2,888
  • Jul 17, 2:15pm (2 hr 19 min ago) Jul 17, 2:15pm (2 hr 19 min ago)
Quoting xkwisit2001
{quote} How much are you up by in terms of RR since you started? Has it been profitable for you so far? Always like to know and understand how people are finding it.
I started using this system this week—specifically the first crossover after the NY session opens—limiting myself to one trade per day. I am rebuilding a prop firm account; this week, I had three trades and three wins. I’ve started backtesting—I’ve covered seven months so far and aim to complete five years—and the results for those seven months are as follows:
January +7R
February +14R
March +9R
April +9R
May +17R
June +6R
July +9R
Once the trade moves 1R in my favor, I move the stop to breakeven (BE).
  • #2,889
  • Jul 17, 3:03pm (1 hr 31 min ago) Jul 17, 3:03pm (1 hr 31 min ago)
Quoting ferjptrader
{quote} I started using this system this week—specifically the first crossover after the NY session opens—limiting myself to one trade per day. I am rebuilding a prop firm account; this week, I had three trades and three wins. I’ve started backtesting—I’ve covered seven months so far and aim to complete five years—and the results for those seven months are as follows: January +7R February +14R March +9R April +9R May +17R June +6R July +9R Once the trade moves 1R in my favor, I move the stop to breakeven (BE).
thats amazing! congratulations!
You said, you had three trades this week. You don't trade on some days on purpose? Or is it just without a reason?
  • #2,890
  • Last Post: Jul 17, 3:31pm (1 hr 4 min ago) Jul 17, 3:31pm (1 hr 4 min ago)
Quoting Toli84
{quote} thats amazing! congratulations! You said, you had three trades this week. You don't trade on some days on purpose? Or is it just without a reason?
I didn't see any trades on Monday, and with the CPI release on Tuesday, I thought it best not to trade.
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