it's a trend following if we consider higher time frames movements and also a contrarian against those higher timeframe .ok , please let me know what do you call this system that obeys higher time frame trend and never take action against higher timeframe movement ? (except those contrarian setup)
my recent trade is a short sell on gold (YG or mini gold) ,it's on the progress & still is on profit.
i will post my trades whether they are loss or profitable whenever there is an opportunity .i have eliminated my trading account number and as you can see it's a live account trading on NT with DOM in gray colour .i watch GC and CL and trade them via YG & QM.
ok,but in T.A each trend has a clear definition,this trend can be in 1 minute chart or in a yearly chart,following a trend in 5 minute timeframe is called trend following as far as i know. mean reversion is called when a price pulls back to it's median price .
this pullback to median price in higher timeframes can be a whole trend in smaller timeframes like m5 .and it's obvious that mean reversion itself is a kind of contrarian and not a trend following (in higher time frame it's contrarian,in lower it can be a trend)
it's today QM( CL mini counterpart) which i was in a long position and my direction was right ,oil rallied after that .my loss was nothing but because of slippage it had one or two ticks of loss.
although today i was in a right direction of market ,i closed my position with one tick profit.
my system setup signals for big movements (100 points in GC & CL ) and 40-50 points movements in ES and 6E.this time ES had a bullish trend too,but because i wanted to tighten my stop loss i closed it.my confidence to this system is growing day by day .at least even my losses are small and most of them are in direction of market due to small stop loss .i should work more on my stop loss.
yes it's subjective ,but the people who talk the talk or walk the walk may be right in probability ,the fact is that an overnight success in trading takes ten years ! (or at least 4-5 years )
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