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Tnavi's journal :: BTS in 15 min chart [REAL account] 77 replies

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Please help me understand the BTS by Effi 0 replies

Attachments: A Basic Trading System (BTS)
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A Basic Trading System (BTS)

Hi Effi

Wow, congratulations on an excellent thread!

Very well presented, well explained, and a joy to follow. I have not lurked around of late in FF, but what a gem I have found today ...

I'll definitely be checking in daily. Thanks for your input, insight, and generosity.

Regards

Angie
Hey Effi! I want to start by thanking you again for all that you are doing for us that are here to learn. Please continue doing so because it's the best information around here.

A question as well: As you can see from the H4 chart, for the past 2 days we have been in a downtrend. But say that you missed the first entry around 1.0850 and, looking at this TF it will not give you anymore entrypoints. Now we see the downtrend that is clear. By looking at a smaller TF like M30 or even M15, would it be valid to wait for a retracement on M30 so I could enter in to the trend on H4? Because I want to trade in the trend but since I can't get any new signals on H4, would that be a good thing to do or is the risk on the lower TF's like M30 and M15 to risky because of too many false signals? From the charts it does look like you would be able to add at every retracement and touch of the 5EMA.
Attached Images (click to enlarge)
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NowandLater,

My thought is that you would not want to go lower than the H1 to look for retracements. Any smaller than that you could get faked into thinking that trend is resuming, when it was really just taking a breather getting ready to retrace up longer. Just my thoughts.

golferguy99
PIP'N
Hey Dude!

Nice system. Gnat told me about it the other day but I hadn't had the chance to read it. Talk to you soon.
Heya Nofx - Nice to see you round. Catch you on the IMs.

NowAndLater: The lower you go the worse its gonna get. I really recommend H1 minimum, and even that is volatile.

I personally would rather miss on 1000 PIPS and sulk about it later, than enter without good coverage. - I'd just feel better about it. About not sticking to the rules., because i know in the long term it is that, which will make my account grow, that attitude.

H1, H4, H8, H12, D1 < These are the best time frames in my opinion.
I've never with this system moved to M30 to catch a signal, and i really mean absolutely never and i've been trading it for several years.

Regards,
E. Lang
"One Grows Tall After Walking Through A Forest Of Tall Trees."
Hello,
Not to get off the subject of the thread but how old are you and how long have you been trading?A lot of people here look up to you I noticed.Just wondering,I thought I had heard before you were like 19 or 20.If so Give me the pills to make my brain expand like yours!!LOL..Good trading to you!..josh
  • Post #207
  • Quote
  • Edited Feb 28, 2008 1:32am Feb 27, 2008 7:12pm | Edited Feb 28, 2008 1:32am
Quoting jlmac27
Hello,
Not to get off the subject of the thread but how old are you and how long have you been trading?A lot of people here look up to you I noticed.Just wondering,I thought I had heard before you were like 19 or 20.If so Give me the pills to make my brain expand like yours!!LOL..Good trading to you!..josh
You can check that by going to my Profile

(At the bottom)

PS: Thank you Angie, hope to see you round more
"One Grows Tall After Walking Through A Forest Of Tall Trees."
  • Post #208
  • Quote
  • Edited at 7:02am Feb 28, 2008 1:45am | Edited at 7:02am
RSBGM,

The first one up are you? - First to rise, last to fall

Good morning from me. *Yaawwwn

Hope we have a good day! - Unlike yesterday: http://www.freewebby.com/action-smilies/whips.gif

---------------------------
We have a lot of news today guys.

I will stay out of trades until it all settles.

The pairs look very rangy at the moment.
Lets not take any chances.

Once all the releases are out, we should still have a good 5 or so hours to trade.

Regards,
E. Lang
"One Grows Tall After Walking Through A Forest Of Tall Trees."
Nah... I get a little rest in between (if I can)... LOL...

Yes, hope the day gives us more greens. I had a TP1 and BE TP2 with my AU-L. Also had GU-L and EU-L both taken out with little profits prematurely as they were weak. But, I got stopped out with my NU-L. It's changing polarity already. Oh... I also closed my UJ-S prematurely with minimal loss only to find out that supposed TP1 was hit. Market's a bit cranky lately. But, now that London is almost open, hope there will be more nicer movements.

Good afternoon from my side of the world!!!

Sorry Effi, it's true that we have a bullish divergence on GJ H1? Hope is not another stupid question, just need a confirmation from someone with a lot of experience....
I don't say
  • Post #211
  • Quote
  • Edited at 8:46am Feb 28, 2008 6:54am | Edited at 8:46am
Drago,

Without looking at who replied to that. I already, knew it was you.

Can we please not post unless it is necessary, so people reading the thread don't have to scroll through a page of spam; a disruptive or unsolicited message

People who are subscribed, receive an e-mail every time someone posts, in hope of something new and useful. Not to read, who made how much.

You mentioned that you were a newbee. For the better benefit of the people who come to learn to trade on this thread, it would be best if the advice they were receiving was from experienced traders, not from novices. You've ill advised on more than one occasion.

If you think i'm being rude, then ask yourself this. When you ask a question, would you rather receive your answer from someone who started trading a few months ago, or a few years ago?

Please try and follow these simple rules.
If you want to brag about profits you've made. Feel free to e-mail me at the end of every day: [email protected], but please not here.

As for the other videos. I'm not sure as i said before. When i have time, i will complete the next one in the series.

In regards to divergences: http://www.babypips.com/school/divergence_trading.html
Don't ask for a fish, ask for the rod.

Best Regards,
E. Lang

EDIT: Thanx for clearing up the thread.
"One Grows Tall After Walking Through A Forest Of Tall Trees."
  • Post #212
  • Quote
  • Edited at 12:27pm Feb 28, 2008 11:26am | Edited at 12:27pm
An AU-L taken prior to news...
Hope this also shows to others what the system can really do...


Attached Image



More pips to everyone!
Quoting Repipula
Hey effi, great thread! been reading it for a couple days now, need to get my head wrapped around some more things in regards to polarity changes. will read again a few more times to hopefully understand. your continuing examples are much appreciated.

my current question is in regards to the three oscillating indicators. I was wondering how you would describe the individual character of each. I know if all three show divergence then that is a great signal, but which of the three tends to be the strongest or the most responsive? and are there any other nuances between them that you've come to notice?

thanks again for your help effi
Hi Repipula,

Allow me to help.

This site gives a description of each standard indicator. Read through so you can understand for yourself the characteristics of each indicator.

http://www.metaquotes.net/techanalysis/indicators/

Then, this site gives the best education about divergence. It also says there that any indicator will do (choose your favorite) to show divergence with price. You just have to be vigilant and eyes wide open. And like what Effi has done here, you can make combinations of your own.

http://www.babypips.com/school/divergence_trading.html

You can further surf on the above topics and I'm pretty sure you may stumble on a site or info that which some of us hasn't been to. Please do your homework too.

Good luck and more pips to you.
Quoting rsbgm
An AU-L taken prior to news...
Hope this also shows to others what the system can really do...


Attachment 90680


More pips to everyone!

Hello rsbgm

Is your reasoning for using this method on the 1hr timeframe just way to re-enter a trend or is this simply because the market seems slower today?
Quoting earret
Hello rsbgm

Is your reasoning for using this method on the 1hr timeframe just way to re-enter a trend or is this simply because the market seems slower today?
No specific reason at all. Just my preferred time frame. I'm an H1 kinda guy. All my trades are on H1 TF. Besides, H1 is one of the options mentioned by Effi (good thing). It's up to ourselves to choose.

If market is slow, all I can do is beeee patient. And, honestly, I'm still training myself to beeee patient. I get emotional when I'm impatient.

-
I took a cable long at great support (back side of channel upper line at pullback, and resistance now support) took 85 pips..

Matty
Attached Images (click to enlarge)
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I'm in long on the same trade.

Note how thick Matty's Support line is. I think everyone should draw R/S this way and remember that they are not points, but undefined AREAS.

Lets hope we breach the Monthly resistance this time and start the ride back up to the 2.0500 target.

If we breach, then 1:1 is ~600 PIPs as advised previously.

Thanks for explaining the reasons for your entry, beside the system based signal.

Appreciated.

Regards,
E. Lang
"One Grows Tall After Walking Through A Forest Of Tall Trees."
Quoting Matiasfx
I took a cable long at great support (back side of channel upper line at pullback, and resistance now support) took 85 pips..

Matty
Hi, Matty, please tell me which is your method to determine these S/R levels, just looking in history, calculations or indi?
Thank's
I don't say
Quoting dragosd1
Hi, Matty, please tell me which is your method to determine these S/R levels, just looking in history, calculations or indi?
Thank's
Hi, don't mean to intrude, but I thought I may shed some light with a method that works for me {as I'm just passing by the computer...and had to type something...:}
The easiest way for me was: (Forget time-frame for a minute, but remember that longer time-frame S/R levels hold more "meaning")

  1. In bullish ranges, look only for support (forget resistance)
  2. In bearish ranges, look only for resistance (forget support)

  1. In bullish ranges, pull-backs down form support
  2. In bearish ranges, pull-backs up form resistance

  1. Support is "generally" formed/confirmed by 5 or more bars/candles
  2. Usually, 2-bars either side of the support bar with higher lows
  3. Resistance is "generally" formed/confirmed by 5 or more bars/candles
  4. Usually, 2-bars either side of the resitance bar with lower highs

That kinda made sense to me, not sure if it will help you or not. Just another perspective maybe.
This also shows why it is more of an area, than a hard number / price

Carpe Divitiae
Quoting dragosd1
Hi, Matty, please tell me which is your method to determine these S/R levels, just looking in history, calculations or indi?
Thank's
Thanks Fsiltd for answering, i like your way too.

Dragosd1, i mostly look back in history for turning points that held before, but the main thing as Effi said its not to look at them as just points or lines, those are areas. I also use a lot of trendlines and i love the pullbacks once they are break, always check for pullback in sup/res areas too.

(i wait for some kind of price action bar or candle formation to trigger the trade at those areas)

i will attach a pic with a few examples, sorry for having so many things on it, if u want to learn some good post about this check James chart thread, i like Seekinglight posts a lot, but are a lot of good examples from great traders there.

Hope it helps

Matty

PS: Please Effi, if u think im out of topic with this, ask me to delete the post and i will do asap. Thanks.
Attached Image (click to enlarge)
Click to Enlarge Name: daily gbpjpy sup res chart.PNG Size: 53 KB
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