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Nova Volume Trading System

  • #261
  • Nov 10, 2024 1:58am Nov 10, 2024 1:58am
Quoting xkwisit2001
{quote} Glad you found your way, next week I will show daily the entries and what R:R is possible. I'll also be trading myself
Hi Twist. The end of next year will mark 30 years of trading. I must say, I am not very good, but I do have experience. I just enjoy trading , and I make a living from my business.
Having said that, I recognize top traders right away. You are on my list. Congratulations!

Like Risk Fighter, I trade several accounts with a trade copier: 2 Props and 2 Broker Accounts.I bought a trade copier for 80 bucks.So I placer my trades on Ic Markets, and they are copied on the other ones.
With your performance, having only 1 prop being copied you could multiply your income. I would not recommend more than that. Props are tricky and cheaty.
The only prop I would recommend, actually the only one I intend to keep is FTMO (swing).
My plan is to keep only Ic. Markets and Ftmo. With a real edge, that makes it.
Anyway, thanks again for sharing, and have a great weekend with your family.
  • #262
  • Nov 10, 2024 2:08am Nov 10, 2024 2:08am
Quoting xkwisit2001
Nếu bạn mới ở đây, hăy đọc những ǵ tôi cung cấp và tự đưa ra kết luận của riêng bạn nếu nó hiệu quả với bạn . Nếu bạn muốn có chỉ báo MT4, hăy cho tôi biết và tôi sẽ gửi cho bạn những ǵ tôi có. Tuy nhiên, nó sẽ không bao giờ hiệu quả bằng chỉ báo TV.
I have been following your thread since day one and the results of this indicator are amazing.
However, I am using a rubbish laptop so having trouble with split screen MT4 and Tradingview. so can you send me the MT4 version? I will switch to Ic Markets broker to be similar to tradingview
  • #263
  • Nov 10, 2024 7:16am Nov 10, 2024 7:16am
Love the indicator! I combine this with fibs, s/d, structure. Can you add arrows on chart? One for color change, and perhaps a "stronger" arrow for color change + signal line confirmation. I know it's very easy to do in pine script. Hope you have the time
  • #264
  • Nov 10, 2024 10:16am Nov 10, 2024 10:16am
Appreciate what you are doing here bro. I will backtest and follow this Nova system and train myself.
  • #265
  • Edited 4:14pm Nov 10, 2024 1:14pm | Edited 4:14pm
Thanks for sharing, very grateful to see what is working for you.

May I ask how you manage your risk when you enter more than one live trade at a time as you increase your risk with each new live trade?

Would also be interested to know how long you have been trading the system profitably and if you tried other instruments during the early research beofre settling on Gold?

Thanks again.

Chris
  • #266
  • Nov 10, 2024 2:16pm Nov 10, 2024 2:16pm
Quoting xkwisit2001
{quote} That is the issue with sharing what works and its a noble thing to do. However, if your strategy revolves around certain circumstances that work for you then you are doing too much trying to please everyone when they ask for MT4. I literally split screen MT4 and Tradingview but I can't spoon feed people because they want an easy indicator. What I am sharing pays for my children to go to private school and my lifestyle which is comfortable now. I was never like that before though, I was broke as a joke surfing every strategy possible thinking...
Do u haver a side job? Or do u just trade full time?
  • #267
  • Nov 10, 2024 6:20pm Nov 10, 2024 6:20pm
Quoting xkwisit2001
Today I didn't trade but if I did the strategy could have potentially gained 6 wins in a row for 12R on GOLD 1M chart following the higher timeframe pullback countertrend. That's if you pretty much stuck to 1 trade open at a time (if possible) - it's also nice to see new contributors who are taking Nova seriously and putting it to the test! If there are any questions let me know {image}
I'm curious to know why you use multicoloured price candles,do the colours represent something we don't know about?
  • #268
  • Nov 10, 2024 6:45pm Nov 10, 2024 6:45pm
Quoting edge540
{quote} I'm curious to know why you use multicoloured price candles,do the colours represent something we don't know about?
read earlier posts. Linear Regression Channel
Its all just one persons opinion
  • #269
  • Nov 10, 2024 7:42pm Nov 10, 2024 7:42pm
Quoting axecap
{quote} read earlier posts. Linear Regression Channel
Thanks for nothing.
  • #270
  • Nov 11, 2024 3:32am Nov 11, 2024 3:32am
Thanks xkwisit2001 for this indicator once again. Build a mechanical system based on it, no bias or anything. Backtested 2024 already, results looks promising. Today started forward testing. One lose (-1r) and one win (+2r) for london.
  • #271
  • Nov 11, 2024 8:48am Nov 11, 2024 8:48am
This strategy works. PERIOD...

But it require you to do your own backtesting and getting into the flow of the symbol you trade.
It might work even if you blindly follow signals, but you have to study the symbol you trade and see what works on that symbol. (What's the best time of day to trade it - how big are the pullbacks on your symbol normally - what risk to reward would be optimal to use on the symbol and so on)

Money management is for me a very big part of trading and the smaller timeframes you trade the more important this becomes - price can whip you out of a trade very quickly.
I aim for 1:3 on my trades on Gold - I started with 1:2 but have found that with the right entries - this is better for me.

How did I come to this conclusion? I did backtesting and live testing - and looked at GOLD to see what it did at the right moments and what it did the times my trades went against me.

And stick with one symbol - get to know it and you will see the profit start running in.

GREED WILL KILL YOUR ACCOUNT - But so will bad money management - and do your top down analysis to know where your support and resistance zones are on the bigger timeframes.

Use tradeview for setups and use your tradeplatform to enter the trade.

Trading is not easy - and if you don't put hours into backtesting and getting to know your symbol you will fail.
  • #272
  • Nov 11, 2024 10:50am Nov 11, 2024 10:50am
Thank you very much for posting your system. Can you send me the indicator for metatrader 4.
Thank you very much and thank you very much!!!
  • #273
  • Nov 11, 2024 12:34pm Nov 11, 2024 12:34pm
Since Wednesday I have traded this system and only had focus on 3 symbols - GOLD and EURUSD - I have done a lot of tweaking and have taken a lot of trades that I should not have entered. But that have just given me more insight into what I should be focusing on and what I should be staying away from.

I try to get into my first trades after New York open optimally I wait 15-30 minutes to see what the marked does.
Some trades I have entered pre New York if I was at my computer and saw a setup that looked good.

I have made a total of 44 trades - and that's properly a bit to many

Wednesday 6/11 (5 trades - 4 win 1 lose 80% win rate - Only Gold) +3,65% - was very conservative on the trades I took
Thursday 7/11 (7 trades - 1 win 6 lose 14% win rate - Only Gold) -4,11% - bad entries upon bad entries - learned a lot
Friday 8/11 (15 trades - 8 win - 7 lose 53% win rate - Only Gold) +4,65% - still experimenting with the entries but was wiser from my mistakes from the previous day.
Monday 11/11 (17 trades - 7 win 10 lose 41% win rate - Gold, EURUSD) +3,41% still experimenting, also included EURUSD because I saw a good setup - but still taking to many trades.

Overall profit doing the 4 last trading days is 7,6% with a win rate of 45%

My biggest win was 3,71% and my biggest lose was 1,31% but on average my losses are much smaller because I cut my losses short before they reach my stop-loss. To many times have I sat and watch my stoploss been taken out and known that it was going to happen - but I don't do that no more.

Psychology in trading is 80% - Management and execution 15% - the last 5% is strategy

For sure I could have made a bigger profit if I had done something different and stayed out of some trades. But then I would not have learned anything. And that's also important if you wanna improve - Always look at what went wrong and how you can avoid it next time.
  • #274
  • Nov 11, 2024 2:03pm Nov 11, 2024 2:03pm
Can someone please explain the use of coloured candles,there must be a reason for their use.
  • #275
  • Nov 11, 2024 2:14pm Nov 11, 2024 2:14pm
Quoting edge540
Can someone please explain the use of coloured candles,there must be a reason for their use.
If they're deep red it means market has recently heavily expanded to the downside, which means there could be a potential opportunity to trade back in the direction it came from, in this case above. It's a mean reversion concept you can use synergistically with any system. Opposite rules apply to deep blue candles.
  • #276
  • Nov 11, 2024 5:42pm Nov 11, 2024 5:42pm
Quoting MachineLearn
{quote} If they're deep red it means market has recently heavily expanded to the downside, which means there could be a potential opportunity to trade back in the direction it came from, in this case above. It's a mean reversion concept you can use synergistically with any system. Opposite rules apply to deep blue candles.
Thanks for your reply to my query,but I'm none the wiser. What on earth does "It's a mean reversion concept you can use synergistically with any system" mean?
  • #277
  • Nov 11, 2024 6:01pm Nov 11, 2024 6:01pm
Quoting edge540
{quote} Thanks for your reply to my query,but I'm none the wiser. What on earth does "It's a mean reversion concept you can use synergistically with any system" mean?
Not sure how to make it clearer.

Mean reversion is a concept that the LRC embodies.

Any system that can target reversals and pullbacks can use this concept.

Synergistically.
  • #278
  • Nov 11, 2024 6:09pm Nov 11, 2024 6:09pm
Quoting edge540
{quote} Thanks for your reply to my query,but I'm none the wiser. What on earth does "It's a mean reversion concept you can use synergistically with any system" mean?
if you read the notes attached the indicator (linear regression channel) on TV it fully explains it
Its all just one persons opinion
  • #279
  • Nov 11, 2024 7:30pm Nov 11, 2024 7:30pm
I actually think the coloured candles indicate the thread starter is a member of the LBQTRSFG/Gay community....now this is a first for the FF.
  • #280
  • Nov 11, 2024 7:33pm Nov 11, 2024 7:33pm
Quoting edge540
I actually think the coloured candles indicate the thread starter is a member of the LBQTRSFG/Gay community....now this is a first for the FF.
lmao
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