Another simple system - Time-Frame 15
PLEASE DO NOT COPY ANYTHING FROM THIS THREAD.ITS COPYRIGHT.PLEASE WRITE TO ME IF YOU NEED ANY ASSITANCE AND YOU CANNOT DO ANYTHING WITHOUT MY CONSENT.
STAY BLESSED.BY THE WAY THIS IS THE FIRST UPDATE TO THE 1ST POST.STAY BLESSED EVERYONE
After a long wait...i finally introduce you to a new method.This is proven to be 80 percent profitable for me.
About Me: I have been trading forex for over 2 years now.Before the forex market i was trading stocks for a while.but forex was more interesting than the stupid stock market.
Sorry for my english..its not my mother tongue.
THE SYSTEM: TIME-FRAME 15
This strategy is based purely on price action.however just to confirm the same we will look where the price is bouncing off from.for example on any time frame the 200 EMA is very well respected.so this strategy we use only 15min timeframe.why coz less than 15min will give you more fakeys and more than this will take huge stoploss which is not ok with me.since i dont trade in millions..what we are trying to do here is to make maximum money with little investement.
I will explain in detail how to take these bounce trades after the TDI confirmation. I don’t believe in adding lot of MA as it will spoil the look of the chart.The time we will look for trades is after the LONDON market opens..why?that is when more money will come to the market.more money means more momentum more momentum means more pips.more pips more money you can take home.
We will wait for the LONDON to open.after it opens we will look for trades AWAY from the 200 EMA.thre are more than one setup..but for the beginners of this system.please practice your eyes for this one setup and later I will elaborate on the other setups.Before you take a trade the price should close below the 10EMA for short and above 10EMA for long.
SL is 20 Pips TP is upto a trader you may let it run till the tdi crosses back.or you may close at 1:1 upto you. As many other system even this has failure at very high volatile times.please demo it demo it demo it..till you become consistent with this strategy. I move my stop to BE after 12 pips..i don’t want to give the pips back the market whats in my pocket.never risk more than 2 % on a single trade
This will be very easy if you already trading using TDI.For this setup the TDI GREEN should cross the Yellow line.Please read dean Malone TDI usage guide for more information on TDI..Later we shall talk about re entries and other setups later coz it will confuse all the newbies..see below for the chart attached
1)200 EMA ( 1HR 50EMA)
2)800 EMA ( 4HR 50 EMA)
4)Round number indicator
5)Trading Time Indicator
The above chart was at the europe open not..it was taken just for illustration purposed.i strongly recommend every1 to trade after london open.
will post more charts as the market is open right now..if possible i will update the setup
sorry guys dint have time to post this chart. just came back from evening walk.thought i wud post the setup this afternoon...
this is a reentry trade the signal was for sell coz the price was below the 200ema and the price was also bouncing off the Round number level..it was hesitating to break that level..and as expected it finally broke down.
could you post your indicator
also the setting for TDI
i will post my template here...but remember you need to practice really well..do thorough back testing.plzz
One thing I find hard doing here at FF is deciding which threads to focus on. Please tell us a little more about how well this particular approach has worked out for you. How many pips do you make per week? How many currencies do you trade?
i have been trading this method for over a yr now.i jumped from one system to another in my initial stage till i got mentored.just focus on one system and one setup first.after u have mastered that setup and practiced it well.it will be a cake walk.trust me all you have to do in this business is to wait wait wait till you master it..it doesnt come overnight..i have spent countless hours of charttime and have read everything i possibly can.
The problem with most of the ppl here in this business is they dont have any1 to mentor them.so they simply break the rules and run away from this business.i have my other business aswell.(family business).i dont trade all the days of the week since i have my own business.i can tell i average about 15 pips on a average per trade..some trades or BE very few are losses.
remember in forex all you need is 10 pips /day...you will be on your way to top,if you consistently nail 10pips/day
lemme knw if you need something
Intresting system you have, please could you tell me does the green have to cross the red below the yellow line ( TDI ) to be confirmed as part of the signal or is it just as long as the green crosses the yellow line
Thank you !
Hi Traders ,
For those traders not familiar with the TDI indicator you can go to www.compassfx.com and Dean Malone has a video on how to use the TDI indicator. It is an ingenious indicator that allows you to follow the trend and tells you the best time to exit the trade when momentum weakens.
Best of Trades ,
There is an another setup which i have not yet discussed in this strategy that needs just the cross of the green on the red which does not need the yellow line cross.
But for the one that we are discussing now..needs the cross of the yellow line..in particular the green should cross the yellow line and the slope of the yellow should point little upwards..will update a picture for your clarification..i ts hard to explain certain things mate..
Trademan....how much ever i explain if you dont practice this or any other system ...a trader will 100% fail.just go through the dean malone's
tdi manual you will get some idea about how it works...in that manual he talks about the slope of the yellow line(very important)...you can take the cross of the green on the red if that happens at a critical level under the yellow slope...i have posted the same trade in the couple of attachements see the slope of the yellow line...it was falling from 68 level...malone describes that the yellow line is the moving average of the highger time frame in one of his videos...just backtest...backtest backtest....
One more thing to the last post...newbies want to become rich very quicly so they dont want to break their head with too much information like emas/ RN /level momentum/slope of the MA's and stuff....but trust me once if u practice these things it will only take seconds for you to identify a good setup...
for all the brothers out there...forex is the easiest way to make tons of dollars if you knw what your doing....KNowing is only the first part....if you keep practicing...you will start FEELING the rhythm of the market in second...you will take if it tells you to or you will walk away...
just take a look at this picture....
one more request...plz plz plz dont even think of going on live till you backtest this...just do the backtesting for the last month feb...you will knw how many pips u wud have made...test only from london open to the 2 hours after the US opens..that all...remember this very important..
Thanks to share this simple system with us. I am going to try this system. I hope it will work well for me as well.
dont get this ..
slope changing and 32 level ??
please indicate where...
According to the TDI we dont take short trades near the 32 level and we dont go long at the 68 level.if u notice the in the above picture the green and red has crossed above the yellow line..
please go through dean malone's pdf file attached by one of friends couple of posts back
Folks i hate posting charts...its such a pain at the wrong place..but picture speaks more than words...so posting this one for 2nd march...
here the the price was bouncing off of the RN.after the london open the buyers tried to push the price up but could'nt sustain and the it was a free fall after that..notice on most of the market open there will a fake move ,,,that is why we have the rule setup for no shorts above 200 ema and no longs below 200ema...
coz of this rule sometimes u might lose few trades but its ok...you will have losing days in forex...coz we are just humans and we make mistakes.
Please, attach arrows indicator.
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