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Nova Volume Trading System

  • #601
  • Nov 25, 2024 3:56pm Nov 25, 2024 3:56pm
Quoting LubeDaddy
Hi xkwisit2001, I'm following your thread since the very beginning - only as a "silent" reader so far. First of all I want to say thank you for sharing the NOVA Indicator and giving something back to the community - it is highly appreciated and I think I can speak for many people following this thread. I would consider myself as a trader with a certain level of experience, but of course still and forever always learning new things! :-) I backtested your system for a while now. My approach was...
You're getting it... those first 2 BE shouldn't be BE as price didn't take out the lower highs but thats why you need to test and gain confidence.

If you take every suitable trade with no emotion you will make profit. It's only emotion that stops you.
You can lead a horse to water, but you can't make it drink
  • #602
  • Nov 25, 2024 3:58pm Nov 25, 2024 3:58pm
Quoting hope&glory
{quote} hello bud please see image so in this example so when you look at 5min bar chart bias would you class this as an uptrend and then when you take entry on the 1min bar chart you would only look for long nova signals? {image}
Once the 5M goes below the zero level I will dial down to the 1M chart and take nova signals.

I will still look at the higher TF i.e 15m/H1 too just to see if its down too. If not, I'll wait and see what's going to happen as reversal could be coming.

I always follow HTF trend.
You can lead a horse to water, but you can't make it drink
  • #603
  • Nov 25, 2024 4:01pm Nov 25, 2024 4:01pm
Quoting Karl2007
Hello, First, thanks for the indicator. I would like to confirm with an example if I have understood it correctly to open an operation. {image} I would not enter in the first two arrows as the signal is not crossing 0, it is in the negative zone. I should enter in the next arrows as the signal line is crossing 0 and then I get the red zone and red line in the histogram. Is it correct?
I like to enter on the 3rd bearish histogram bar at the open if possible. If the bars are large then I won't take the trade as it's likely it'll make my stop loss too large to get a 1:2.

I try to get entry when the moving averages flip as that is usually the best setup for guaranteed profit or break even at least.

Once you build up profit from one of those entries it makes things easier.
You can lead a horse to water, but you can't make it drink
  • #604
  • Nov 25, 2024 4:03pm Nov 25, 2024 4:03pm
Quoting hope&glory
{quote} hi on this example you posted, would i be wrong in thinking this can be seen as a pull back on the uptrend? (see my blue lines) thanks {image}
On this, if you check the 5M it was most likely above the zero level so I wouldn't have taken any sells.

Once 5M is down i'll wait for a retracement on the M1 and then enter the first nova signal.

If you do this constantly you will get the best RR trades.
You can lead a horse to water, but you can't make it drink
  • #605
  • Nov 25, 2024 4:04pm Nov 25, 2024 4:04pm
Quoting Magiruss
{quote} I use this Heiken Ashi, it can be easily turned off with a button. It's for the MT4 platform. {file} {image}
Heiken ashi helps a lot because it keeps you in the trend. As soon as I see 2 opposite candles I'll get out.

Only if i'm at 1:2 though
You can lead a horse to water, but you can't make it drink
  • #606
  • Nov 25, 2024 4:17pm Nov 25, 2024 4:17pm
Quoting MachineLearn
{quote} Nice entries, cool to see someone still using the LRC. Such an incredibly strong indicator. Thanks for the insight into your trading.
Yeah, it really is a nice indicator I came about even before this thread.
For me I mainly use it to smooth things out a bit, just like xkwisit mentioned with HA-candles, similar effect.
And thank you, I always appreciate your insights too! :-)
  • #607
  • Nov 25, 2024 4:22pm Nov 25, 2024 4:22pm
Quoting xkwisit2001
{quote} You're getting it... those first 2 BE shouldn't be BE as price didn't take out the lower highs but thats why you need to test and gain confidence. If you take every suitable trade with no emotion you will make profit. It's only emotion that stops you.
Thanks for your quick reply and feedback!
You're right, I should have given the trades a bit more room to breathe.
Like that the second trade would have been a solid 1:2 RR winner, and the first one BE then imo.

And yeah, it's all about emotions.
I'm still at the point where I'm building confidence to my own interpretation of "good" signals, or A+ setups.
So at this point I tend to move to BE fairly quickly before taking a loss, but with growing confidence the performance will improve, I'm sure! :-)
  • #608
  • Nov 25, 2024 8:45pm Nov 25, 2024 8:45pm
Hey OP, I’ve been following this thread closely over the last few days, first off thank you so much for the very detailed thread and giving back to the community.

I have just 1 question when do you decide on a direction to trade on the 1 minute is it when it’s inline with the 1H or 5m? Can you take us through the process of you coming up with your bias for the day? And also what are the best sessions to trade in your experience with gold?
  • #609
  • Nov 26, 2024 4:10am Nov 26, 2024 4:10am
Quoting Outcast918
Hey OP, I’ve been following this thread closely over the last few days, first off thank you so much for the very detailed thread and giving back to the community. I have just 1 question when do you decide on a direction to trade on the 1 minute is it when it’s inline with the 1H or 5m? Can you take us through the process of you coming up with your bias for the day? And also what are the best sessions to trade in your experience with gold?
The best way is to check say the 15M/1HR and see what the trend is.

Then check nova and see if it has recently crossed the zero level in the trend direction. If it has then you can go down to say the 5M and wait for that to cross the zero level in the trend direction and that way you know you are in with the main trend.

Ideally you want all timeframes to agree on the direction but of course some will be opposite during a pullback so it's just all about aligning the Nova signals with the trends.

If 1HR is just crossing the zero level then you will be able to have more successful trades with nova on the lower time frames as you have the bigger ones backing you up.

That's why you can see some crazy trades if say the 4HR or Daily are crossing zero level.

I like to jump into the NY open for Gold/Nas100. London session is ok... but just a bit more slow.
You can lead a horse to water, but you can't make it drink
  • #610
  • Nov 26, 2024 4:14am Nov 26, 2024 4:14am
Here is a reason why you should hold trades. I broke my emotion rule and actually closed the trade with a tiny profit because I didn't like the strong pullback. Only for it to reverse and hit TP.

Oh well, there will be more entries around the corner.

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You can lead a horse to water, but you can't make it drink
  • #611
  • Nov 26, 2024 7:12am Nov 26, 2024 7:12am
1301 UK time - new hour and a strong nova signal. Trailed the 1 minute bar for 1:3 in less than 5 minutes

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  • #612
  • Nov 26, 2024 7:12am Nov 26, 2024 7:12am
Amazing 8AM NY entry:

Enter right after bullish candle and strong nova bar and bam 1:4 on offer.

Attached Image (click to enlarge)
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You can lead a horse to water, but you can't make it drink
  • #613
  • Nov 26, 2024 7:22am Nov 26, 2024 7:22am
Quoting xkwisit2001
Amazing 8AM NY entry: Enter right after bullish candle and strong nova bar and bam 1:4 on offer.
Same... holding off on another long - this could have been a stop hunt ready for the high of day reversal.
  • #614
  • Nov 26, 2024 7:33am Nov 26, 2024 7:33am
Quoting TableTop
{quote} Same... holding off on another long - this could have been a stop hunt ready for the high of day reversal.
Precisely, you posted literally when I did lol

As if we got the exact trade
You can lead a horse to water, but you can't make it drink
  • #615
  • Nov 26, 2024 7:51am Nov 26, 2024 7:51am
Waiting for my favourite EMA flip entry now

EDIT: Looks to be going off but hopefully get another pullback soon.

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You can lead a horse to water, but you can't make it drink
  • #616
  • Nov 26, 2024 8:03am Nov 26, 2024 8:03am
M5 hit the zero line. Entered after the engulfing bar on the new 15 minute rotation. 1 tp at 1:2 , one trailed the 1 minute for a little over 1:2 and the 3rd hit breakeven. I thought this was a short to a significant low (but not this one).

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  • #617
  • Edited 8:27am Nov 26, 2024 8:16am | Edited 8:27am
1R loss for me, I don't like those large candle entries but I'm up 7R overall

As you can see with the push down before my entry those large candles tend to retrace after. Gradual volume is the best with smaller bars i.e half the size of that big one.

Will wait for a break of the low that I entered on and take nova signals after that.

Bit weary this could turn bullish again though.

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We are in sketch territory on the M5 though as EMA's have started to flip bullish.

Might sit this out and wait for clarity

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You can lead a horse to water, but you can't make it drink
  • #618
  • Nov 26, 2024 8:35am Nov 26, 2024 8:35am
Ok we have some clarity now lol

Will wait on pullback and on the next Nova signal gold is getting it

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EDIT: No entry it ran away lol
You can lead a horse to water, but you can't make it drink
  • #619
  • Nov 26, 2024 8:37am Nov 26, 2024 8:37am
Another lovely setup on Gold. 3 pumps back up just before the NY Equity markets open. 1:2 hit. I'm leaving some in to see if we go lower now that the previous day low is being retested.
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  • #620
  • Nov 26, 2024 10:15am Nov 26, 2024 10:15am
Hey OP please excuse my inexperience but what do you mean by has to cross the zero line?
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