Nova Volume Trading System

Quoting Mohii25

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Hello everyone, Could someone please tell me if this was a valid losing trade according to the rules, or if I made a mistake in my analysis/execution? I'd appreciate any feedback on what I could have done better or whether this was simply a normal loss that fits the strategy. {image}

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Quoting CM-PunkFX

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{quote} if you look closely at the blue signal line it did not cross the zero line even though the histogram has turned red. So according to the rules this was not a valid entry for a sell.

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Quoting Mohii25

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Hello everyone, Could someone please tell me if this was a valid losing trade according to the rules, or if I made a mistake in my analysis/execution? I'd appreciate any feedback on what I could have done better or whether this was simply a normal loss that fits the strategy. {image}

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Quoting Mathony

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{quote} 1) The signal line did not cross the zero line. 2) The EMA lines are flat and show no clear trend direction. In my opinion, the entire chart was simply in a wait-and-see phase; there isn’t a single clear signal anywhere that would meet even my minimum requirements, and I dare say I’m not alone in this view.

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Quoting CM-PunkFX

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{quote} you have a very valid point… when the ema is flat I guess it’s not when the market is trending so these trades opportunities are more risky. So if you avoid these trades it could eliminate a few losses. So this approach by you is good, the only problem I can see with this is that if you only take the trade opportunities when the market is trending by using the ema’s is how many hours are you prepared to spend the day trading. Because you might have an opportunity at 8am in the morning and then an opportunity at 2pm and then not another one...

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Quoting CM-PunkFX

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{quote} yes fro the sell to be valid the signal line should also be below the zero line plus the red ema on the main chart should be on top with the green line at the bottom in order to show a valid entry opportunity

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Quoting xauGauranga

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Apologies for the unconventional approach, but in market conditions like today’s, I use Nova a bit differently. 2W, 1L, +4R {image} {image}

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Quoting Mohii25

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{quote} So that would make this setup invalid too because the EMA lines are flat, right? {image}

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Quoting xkwisit2001

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{quote} Your ema's look a bit off: When the EMA's are close together and tight like a ribbon then they will not be respected and price will act like they're not there. You want to see price make a big move and then wait for the EMA's to fan out or flip depending on where price moves and then wait for the pullback. EMA's should look like this though {image}

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Quoting Mohii25

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{quote} You're using the 50, 100, and 200 EMA lines, right?

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Quoting xkwisit2001

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{quote} Flat EMA is no trade... mark the last high and low if the emas are flat and wait for a reaction and for price to show its hand. Once the EMA's fan out in your direction then you can start to look for entries. Also, trading doesn't need to be done ALL day, you need to be a lot more clever about when you trade and this is done by understanding the market cycles. I.e there will always be trades during london & NY and it is perfectly fine to trade slow and steady. If london is ranging then NY could be more likely to give you something but I...

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Quoting CM-PunkFX

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{quote} That all sounds great to me… one thing my friend, I know your from UK too just like me. A quick question, do you use prop firms to trade or just a real account. The reason I ask is I’m only using a prop firm at the moment but want to maybe start trading a real account instead (too many rules on prop firms). Because your from Uk too I wanted to ask it is worth it?.. because unless you choose one of these dodgy oversea brokers you have to stick to UK brokers and leverage is only 20:1 rather than prop firms that have 100:1. adding to this how...

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Quoting xkwisit2001

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{quote} I use an IC pro account so my leverage can get up to 1000:1 Best tip for you would be to deposit less than your full amount. £1000 is perfectly fine to trade with but you need to build up the account initially and not rush it. If using prop accounts then you will want to go for 1.5R and 0.5% risk because their spreads can be not so good so you need to smash and grab. 2 TPS and you're up 3% which is very good.... Any more and you'll start getting banned by them as they don't want you to make any money.

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Quoting CM-PunkFX

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{quote} I want to use a real account…. But yeh with £1000 at 20;1 leverage I probably have 1 position at a time and then the leverage is already taken up. I don’t know how you get a 1000:1 account in uk unless it’s an overseas account but I don’t want to touch overseas accounts as they are usually dodgey. 1:5 risk to reward is good… but if scalping trying to get 1:5 reward is more difficult… you’ll probably get a lot of losses by holding trades to try and achieve a 5 reward.

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