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Nova Volume Trading System

  • #2,961
  • Jul 27, 11:42am (5 hr ago) Jul 27, 11:42am (5 hr ago)
Quoting MonarchZ
After today, I feel completely and utterly clueless. It's like I've never traded before. My mental is in the bin. First trade stop loss, but if I had done the signal after it, it would have been a win, 2nd one I closed it breakeven... I completely lost the ability to read the charts. My chart time is kind of limited but still... I don't know how to proceed right now {image} {image}
The signals you're taking are after big bars that create imbalances and therefore price will want to close them.

The better signals are when the volume builds up gradually.
You can lead a horse to water, but you can't make it drink
  • #2,962
  • Jul 27, 11:58am (5 hr ago) Jul 27, 11:58am (5 hr ago)
Quoting xkwisit2001
Also be mindful that this opening gap will need to be closed up {image}
That imbalance I had marked out was the precise reversal zone... imbalances work... period.

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You can lead a horse to water, but you can't make it drink
  • #2,963
  • Jul 27, 1:05pm (3 hr ago) Jul 27, 1:05pm (3 hr ago)
Quoting MonarchZ
After today, I feel completely and utterly clueless. It's like I've never traded before. My mental is in the bin. First trade stop loss, but if I had done the signal after it, it would have been a win, 2nd one I closed it breakeven... I completely lost the ability to read the charts. My chart time is kind of limited but still... I don't know how to proceed right now {image} {image}
I used to be the same way; I set up rules and only make one trade a day—after entering the trade, I don't even look at the chart anymore. With the help of AI, I created an indicator on MT5 that sends a message to my phone when the moving averages cross and when the first pullback occurs. Using a 2:1 risk-reward ratio, there’s a high probability of ending up profitable. Some people have the discipline to sit in front of the screen, but I don't.
  • #2,964
  • Jul 27, 1:33pm (3 hr ago) Jul 27, 1:33pm (3 hr ago)
Just dropping by to say thanks a lot for your indicator. Been using it a couple of weeks together with my own strat. Nova is now the main trigger for go or no go :-).
Was a good day today, only two trades but nice outcome.
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  • #2,965
  • Jul 27, 2:12pm (2 hr 52 min ago) Jul 27, 2:12pm (2 hr 52 min ago)
I created an EA that manages the trade; when it moves 1:1 in my favor, it moves the stop to break-even. It saved me today.
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  • #2,966
  • Last Post: Jul 27, 4:27pm (37 min ago) Jul 27, 4:27pm (37 min ago)
Quoting xkwisit2001
{quote} The signals you're taking are after big bars that create imbalances and therefore price will want to close them. The better signals are when the volume builds up gradually.
Sorry when you say don’t take the yards after big bats are you referring to big candlestick price bars or the nov histogram bars?
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