The BANANA Technique [The Trading Course]

This forum started for the BANANA Project. Now it's complete. You can simply go to https://itradeaims.net/banana to learn more. Or take the course here https://itradeaims.net/courses
Minsk
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Re: Trend Continuation Entries 2

Unread post by Minsk »

immy wrote:
Mon Oct 17, 2022 10:06 am
immy wrote:
Mon Oct 17, 2022 9:16 am
The Banana Testing included all types of banana signals. 

In live trading, however, we only take the ones with clean TTTPP type setups. That is because those are the cleanest and highest probability entry setups. 

But...

There are 2 more ways to get into the market based on the TREND 

One is the Limit Order entry technique which is used for either the same seed or banana signal, box levels, trading range levels or swing levels. 

the 2nd one is when we get to see the Trend and its a Parallel channel trend

The Banana pattern that we normally look for is the "breakout and pullback" setup 

But that does not mean we cannot or should not trade into a confirmed trend. 

In fact one of the most profitable trading technique is to simply find a trend and GET IN. 

I will post a few charts here to show what is a parallel channel or smooth trend and how to get in. 

 
In the chart below you see DAX on the 3rd and 4th of oct 2022. 

That is a nice example of a parallel channel or 45 degree clean trend. It does not have a TTTPP pattern, but instead it has smaller pullbacks and banana signals. WE can take these when the trend is confirmed. Trend Continuation Entries.png
 

The next example is from USD/JPY. This pair has been trending up for 2 years now. But this year, 2022, it has trended up a lot thanks to "inflation" and stock market's bearish moves. 

On the chart below we don't see a clean B pattern but what we see is more powerful than the banana pattern on its own. 
 Trend Continuation Entries 2.png
 
 




 
Limit buy is for SEEDS only. DAX today is a good example. but I like to use it on VERY CLEAN clear trends. ones where I just want to get in but i want to get in with the most Risk to Reward ratio. if the direction is in question then its higher risk. we don't want to use it during a choppy or range market because price goes up and down too much and will stop you out

Dax Example Start 2022-10-17_11-05-15.png
 

Dax Example End Trend Continuation Entries dax.png
 




More on this in this lesson https://itradeaims.net/amember/page/16.25 

 
 
 

 
Immy, in the video you talk about gray banana signals. I see them in your chart, but I never get these. Why is that? What difference between gray and blue/pink?

 

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AIMS
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Re: The BANANA Technique [The Trading Course]

Unread post by AIMS »

Hey Minsk

Those grey signals in the video don't exist now, they have become part of the new banana. the grey ones on my screen are a beta version not release, if you chose filter 50ema the ones going against 50 show as grey. I have not found them super useful so far. Just creates double thinking 

cheers 
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1 :nerd

The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".

I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.

My Deathbed Advice "5:1 Reward to Risk Ratio".

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AIMS
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When NOT to Use 5R Target

Unread post by AIMS »

The 5R target works best if you use a stop loss of 1ATR or lower. That is why, we filter the trades with bigger stop losses.

E.g. under normal circumstances, normal volatility, GU and EU should be trade with a max of 20 stop loss and UJ 15. DAX around 40 or 50 max. 

GU these days is highly volatile so even 50 pips (1 ATR) seems ok. 

When you want to trade but SL is bigger than instead of 5R you should go for an obvious level to the left be it 3, 4 or 5R 

Hope you understand this, if not, ask away and I'll reply. 
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1 :nerd

The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".

I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.

My Deathbed Advice "5:1 Reward to Risk Ratio".

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AIMS
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The H1 / M5 Method (Discord Copy)

Unread post by AIMS »

  1. he h1/m5, is not a straight forward setup though.
  2. [10:49]
    You have to be able to assess the situation on the h1 and the pair and market as a whole. on paper it looks so simple and easy. and after letting other test this technique I have found that perhaps this is my unique skill.
  3. I have over 80% win rate on this. so definitely NOT just "follow the signal" or setup... it requires some expertise. but definitely worth learning.
  4. [10:50]
    one thing is 100% absolutely correct you can't stay on m5 to catch these. you have to be on h1 and be following the market for a while to know when exactly to drop.
  5. [10:50]
    having said that, the 2nd trade was easier and clearly a H1/M% setup... why?
  6. [10:51]
    because you'd have seen a TC, as I pointed out, on the h1. then you drop to m5 after you've checked that the TC has broken out of a TR... now you're looking for entries so you drop to m5.
  7. [10:51]
    but also since we know that afte a couple of 3 TC on h1 there is a pullback, then you will get a chop on m5 and a pullback on h1
  8. [10:51]
    hope it makes sense.
Screenshots 
1.png
  1. the ability to read clean momentum is a powerful skill. very useful in trading.
  2. [09:57]
  3. In fact, this skill of reading momentum and being able to differentiate between choppiness and smoothness is the KEY, particularly for the method we use.
  4. [09:58]
    2.png
     
    exit 3R
3.png
 
  1. looks I got out a bit early.
  2. [10:06]
    I also think that, we must hone our skill to catch some h1/m5 trades. its an important second skill for when trading the hourly time frame. ... the skill to know when it is the most opportune time to drop to m5 and take a trade in line with momentum and in line with the momentum of the hourly chart.
  3. [10:06]
    this skill will help you vastly during times like these when most h1 charts just go sideways.
  4. [10:13]
    exit would have been 3R ... so I was right. anyway that does not matter, whatever you plan before entering the trade must be followed
here is how to read the market... is this third pullback also worth taking?

 
2022-10-25_11-00-24.png
 
Answer 

 
2022-10-25_11-02-45.png
 
 
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What is the Secret of Successful Trading?
The Consistent Pursuit of DS1 :nerd

The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".

I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.

My Deathbed Advice "5:1 Reward to Risk Ratio".

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AIMS
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How to Set Limit Orders

Unread post by AIMS »

What is the Secret of Successful Trading?
The Consistent Pursuit of DS1 :nerd

The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".

I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.

My Deathbed Advice "5:1 Reward to Risk Ratio".