Another simple system - Time-Frame 15 | Page 925 | Forex Factory

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Another simple system - Time-Frame 15

  • #18,481
  • Jan 1, 2013 5:34pm Jan 1, 2013 5:34pm
Quoting loveevery1
.....
you will fail in forex if you have these qualities

1)Jealous
2)Hatred
3)Fear
4)if u dont care for others
5)cunning
6)doubting unnecessarily
7)anger
8)vengence
9)pride
10)i know everything attitude.


friedns watch out for these qualities in your real life aswell.it will help you be a good person.help others as much as you can.even if some1 is not good to you.try to be good to them.LOVE is the only key to open the doors of HEAVEN...remember

now good night
Hi Everyone,

The new trading year just started few hours ago. I wont start my trading until week 03.
But I thought it would help me when I read the posts made by LE1 again and get my feet firm on the ground when I start a new trading year.

LE1' post#45 above reminds me of some basic philosophy in life and this is true across all culture. To suceed in career, we also must suceed in life.
Be a good person. Do good to other people.

Check if you have those qualities which LE1 mentioned above and get rid of them.

Good Trading!

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #18,482
  • Jan 1, 2013 5:51pm Jan 1, 2013 5:51pm
Scripts for R-Multiple Trade Management:
Draw_Lines BUY EP SL TP
Draw_Line SELL EP SL TP


Quoting Nasir
Hi Emmanuel, How can I change TP 1-1.0, TP2 1.5 and TP3 2.0 to TP1 1.0, TP2 2.0 and TP3 to 3.0. Sorry I don't know any thing about the programming.

Thanks
Hi Nasir,
I made a new version attached here for you and everyone who like to use them.
Note: I increase the number of TP levels to 5.
Let see if the market will let you push your TPs as far as you can manage.

Consider the use of scaling-out strategy your trades as compared to single entry/single exit strategy , this can help you achieve a higher overall win rate when we trade this M15 method using small SL of not more than 20pips. Always take some pips off the table first, then protect and manage your trades to let them run.
When we are in the market trend, we can consider to scale-in new additional positions to increase profits and "LET PROFITS RUN".

Think:
Single Entry/Miltiple Exits (SE/ME)
Multiple Entries/Multple Exits (ME/ME)
I will share more on these in the upcoming weeks.

Good Trading!

EMMANUEL
Attached File(s)
File Type: mq4 Draw_Lines Buy EP SL TP.mq4   2 KB | 601 downloads
File Type: mq4 Draw_Lines Sell EP SL TP.mq4   2 KB | 594 downloads
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #18,483
  • Jan 1, 2013 6:10pm Jan 1, 2013 6:10pm
Discipline is an absolute requirement for successful trading. Trading has a multitude of components that have to be managed when identifying opportunities and assessing risk. Each of these components requires its own discipline and you must comprehend the weight of its value in any given circumstance and how it may have influence on a possible trade.

Discipline is not a human characteristic that can be adapted overnight. Discipline is a quality characteristic that must be developed over a period of time and refined through experiences, hard lessons and a determined focus on a specific objective.

Successful traders know this process very well, because they have taken hold of the ability to discipline themselves accordingly. However, every successful trader has been through the process of being disciplined by the market and has learned from it. Every successful trader has been slapped, beaten, bruised and had their butt handed to them before becoming consistently profitable as a result of learning how to be disciplined.



https://fbcdn-sphotos-h-a.akamaihd.n...5c1c9a02d24f42
  • #18,484
  • Jan 1, 2013 6:10pm Jan 1, 2013 6:10pm
Quoting Magrami
THX for remind how easy is basic setup ! : It always give easy pips
Hi Magrami,

The Basic setup is simple to identify on our charts when we have done enough back-testing and realtime practice and observe the rules of this method.

But I want to empahsize that it is not easy to trade unless traders have done enough practice and develop the competence required. It is the Unconscious Competence that we must achieve. We must have the competence to read the charts and identify the following :

Price Action, Trend, Multi-Time Frame, Momentum, Support and Resistance, Continuation, Volatility, Market Strength, Range, Confluence, Timing ...
... all these put together will give you that high probablity trade you want.

We must focus in the process of trading and not on the results. No two traders trading the same method will produce the same results.

Trade Well!

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #18,485
  • Jan 1, 2013 6:16pm Jan 1, 2013 6:16pm
Here is my first trade for 2013.
Cake walk started.

Wish u lots of pips in 2013!

Love to Everyone,

Ciara
Attached Image (click to enlarge)
Click to Enlarge Name: 20130102EC.png Size: 47 KB
Ideas shape the course of history
  • #18,486
  • Jan 1, 2013 8:07pm Jan 1, 2013 8:07pm
Emmanuel, Thank you for the script. It work fine.
  • #18,487
  • Jan 1, 2013 8:14pm Jan 1, 2013 8:14pm
did you catch them?
TJ

Quoting emmanuel7788
Thanks TJ for the heads-up.

I have CONFLUENCE with your watchlist.

Kind regards,

HAPPY NEW YEAR.

EMMANUEL
Charts never lie! (everyone else does) ... now where's that FF Adult lounge
  • #18,488
  • Jan 1, 2013 8:52pm Jan 1, 2013 8:52pm
Hi Emmanuel,

When I use new trade management script it work but using this I lost my original fibonacci retracement tool. If I use fibonacci tools it gives me the same as TP 1 to TP 5 but does not give me the fib mubers any more. Any idea on this please.
  • #18,489
  • Jan 1, 2013 9:13pm Jan 1, 2013 9:13pm
Hi guys, I have spent the last couple days reading through this thread and want to thank LE1 for the simple system. I am only about 1/2 through the thread so I am sure I missed alot of good pointers to the system. I did manage to take a few trades using the basic rules on page 1.
Unfortunately I exited a little early but I am still happy with the results.
Attached Image (click to enlarge)
Click to Enlarge Name: eu long.jpg Size: 136 KB
  • #18,490
  • Jan 1, 2013 9:18pm Jan 1, 2013 9:18pm
Emmanuel,

Sorry for trouble I was able to fix the problem. I went on fibo properties and change the numbers and it works again.

Thanks
  • #18,491
  • Jan 1, 2013 9:27pm Jan 1, 2013 9:27pm
Quoting Ciara
Here is my first trade for 2013.
Cake walk started.

Wish u lots of pips in 2013!

Love to Everyone,

Ciara
Hi Ciara!Happy new year to you and everyone in this thread!
I have a question!
After seeing the good signals in HTF you took a trade in M15 because PA around RN,right?But I see PA was still below 10MA,it means bearish trend in M15!
Please correct me if I was wrong!Thanks!
  • #18,492
  • Jan 2, 2013 12:13am Jan 2, 2013 12:13am
Quoting kaka_ht
Hi Ciara!Happy new year to you and everyone in this thread!
I have a question!
After seeing the good signals in HTF you took a trade in M15 because PA around RN,right?But I see PA was still below 10MA,it means bearish trend in M15!
Please correct me if I was wrong!Thanks!
As already stated on the image attached, it was a bounce off daily EMA 10. Higher EMAs overrule the lower ones.

Ciara
Ideas shape the course of history
  • #18,493
  • Jan 2, 2013 12:50am Jan 2, 2013 12:50am
Quoting Ciara
As already stated on the image attached, it was a bounce off daily EMA 10. Higher EMAs overrule the lower ones.

Ciara
But we should confirm a proper signal entry in LTF(like M15,M5..) after receiving a good set up in HTF,right?
  • #18,494
  • Jan 2, 2013 1:03am Jan 2, 2013 1:03am
Quoting kaka_ht
But we should confirm a proper signal entry in LTF(like M15,M5..) after receiving a good set up in HTF,right?
Yes. It has been confirmed in LTFs too (see the original post and the lines).

Ciara
Ideas shape the course of history
  • #18,495
  • Jan 2, 2013 1:59am Jan 2, 2013 1:59am
Happy New Year eveybody.

Greats pips to you in 2013.

I was looking at different pairs and I noticed almost all have reached ADR since sydney open. Perhaps becuz of fiscal agreement in US.

What are your views on such ocassions such as today?

I had bad losses on dec 30. pehaps I should have avoided the market on teh last day.


I appreciate your sophisticated views.
  • #18,496
  • Jan 2, 2013 2:43am Jan 2, 2013 2:43am
Quoting fxrobinhhood
Happy New Year eveybody.

Greats pips to you in 2013.

I was looking at different pairs and I noticed almost all have reached ADR since sydney open. Perhaps becuz of fiscal agreement in US.

What are your views on such ocassions such as today?

I had bad losses on dec 30. pehaps I should have avoided the market on teh last day.


I appreciate your sophisticated views.
You have eur and gu saying buy per system i.e. above ma's. There are some problems though, they are at/near Dec highs. There is then the tendency to close the gap suggesting decent moves down before uptrend resumes.

It can go either way, but so far 1hr upper wicks do not inspire confidence in buying. That can obviously flip around.

Given LO sideways pa looks like they are waiting for US open. Not trading this week though. I would definitely be looking for a little more clarity before trading (if I was going to of course). You don't have to trade every move.
  • #18,497
  • Jan 2, 2013 3:06am Jan 2, 2013 3:06am
Hello, i am new to the thread. I started reading the thread and am very interested. I want to thank the member who created this thread.

I wanted a little clarity on the system. Back testing is easy enough to do and seeing the crosses but many times when the cross is forming in real time, i have trouble with entry points. Do you need to wait for the candle to close as well as close past the ten moving average, or does it need to close below the ten and then trade when the cross is forming? I also am wondering what chart do you draw the support and resistance lines from. Obviously the 15 min will be different from 1 and 4 hr, which one is more important?

Thank you for all your help and i look forward to trading the system further.
  • #18,498
  • Jan 2, 2013 4:04am Jan 2, 2013 4:04am
Quoting fxrobinhhood
Happy New Year eveybody.

Greats pips to you in 2013.

I was looking at different pairs and I noticed almost all have reached ADR since sydney open. Perhaps becuz of fiscal agreement in US.

What are your views on such ocassions such as today?

I had bad losses on dec 30. pehaps I should have avoided the market on teh last day.


I appreciate your sophisticated views.
Definitely not a good time to trade for me. Like Emmanuel said in one of his posts...'too much daylight'. Can you figure out some other reasons? what rules govern your trades? What are your setup parameters? stoploss parameters? entry trigger parameters? take profit parameters?
These are the critical questions I answer before entering any trade. I'm definitely going to be ignoring MOST(not all!lol!) counter trend trades these year! Not just worth the risk in my opinion. They are mostly LOW PROBABILITY trades. Ultimately...PATIENCE PAYS. TRADE SAFE.
  • #18,499
  • Jan 2, 2013 4:20am Jan 2, 2013 4:20am
Quoting Vantage
You have eur and gu saying buy per system i.e. above ma's. There are some problems though, they are at/near Dec highs. There is then the tendency to close the gap suggesting decent moves down before uptrend resumes.

It can go either way, but so far 1hr upper wicks do not inspire confidence in buying. That can obviously flip around.

Given LO sideways pa looks like they are waiting for US open. Not trading this week though. I would definitely be looking for a little more clarity before trading (if I was going to of course). You don't have to trade...
Yeah, thnx
staying out probably was the best strategy when things are blurred.
I even got a strange spike on EU. It even passed my stop.
entry 1.3255 sl=1.3247 stoped 1.3243 - no broker shows this at 10 gmt.
I am writing to the broker but I think there will be excuses like many other brokers.
  • #18,500
  • Jan 2, 2013 4:29am Jan 2, 2013 4:29am
Quoting jordfx
Definitely not a good time to trade for me. Like Emmanuel said in one of his posts...'too much daylight'. Can you figure out some other reasons? what rules govern your trades? What are your setup parameters? stoploss parameters? entry trigger parameters? take profit parameters?
These are the critical questions I answer before entering any trade. I'm definitely going to be ignoring MOST(not all!lol!) counter trend trades these year! Not just worth the risk in my opinion. They are mostly LOW PROBABILITY trades. Ultimately...PATIENCE PAYS. TRADE SAFE....
Hi Jordfx

You have good probality tardes and yeah not a good time according to most of teh rules on most pairs.
This finally makes teh difference between tarders.
I made over 200 pips last week before dec 29.
I lost 200 on dec 30. and some 40 today.
I thought I have learned much here but still a long way to go.
And patience.
Yes that is the key.
Everyday I close 1/2 tardes at BE which reach TP of 30 - 50 in a few hours. paitience pays as you said.
Thnx for your valuable tips.
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