mphpopular supernova manual journal

GU overall of downtrend. Ignore the solid pink and yellow line that I drew, and you shall see a clear downtrend channel which already formed.

The line is drewn bcoz I wish I could see a similiar pattern to what i thought. But overall, i support a DT.

Wish you all alots of pips.

EJ 10Aug08

A small channel (bear) in big channel (bull)

15m TF shows a descending triangle

EU

I choose Long but will nid to wait. Monthly showing a LONG mode.

4H TF shows a bear channel, but I guess 1.4780 is hard enough for it???

If want to go LONG, nid to wait 15m trendline break and price keep on stand above 1.4780.... So I will wait

GJ

This week switch the all TF to 1H.

EU GJ GU EJ all 1H TF. As i do some homework and revise back to most of charts and do some paper work, I found if we trade 15m TF, we can mostly get 5 good signal each day whereby all the indi agree and you can enter the trade. But all the 3 good signal is quite risky and you must understand well the money management stuff. (In UK US session, one pair got 3signal). If you didn't manage the trade well, it will become a -ve.

But when you switch to 1H TF, usually around 1nice signal per day. But it ensure you wif higher probability of winning and more stable signal. You can see from the chart I attach....

The chart is GU, but you can get it over EU today as well.

If you noted on the GJ pair today, you will get alot of false signal if you did follow the GJ 15m TF with all the rules, but in 1H TF, you will get 0 signal whereby you didn't enter the market, and also didn't lose anything

Hallo MPH!

Good analysis. And you are right - the 1H signals are just much more reliable. But then it might get boring to wait for that signal to come. So many manual traders got into 15M again, but tried to "catch the groove" of the GJ or GU there in order to perfect their entries!

I am still in the middle of my divorcing BS. I might be back to normal in 2-3 weeks, so please bear with me. I will have even more time to spent then and I guess we can revitalize this discussion and also the good old Supernove thread!!

See you in a while!!
Ciao!
Matt

Weekly GJ

EJ

look like we are cruising toward 158.xx lvl...

sonic

http://www.forexfactory.com/attachme...1&d=1218884949

I guess I gonna get mad if keep on wait for H1 signal. Juz switch 2 chart back to 15m chart to have some trade. Yesterday for 8 hours, 0 trade from H1..... OMG, it is juz too torturing for waiting... Sitting there eat junk food, see TV, going thru some books, but no trade at all.....

trade m23
-Using managetpv to manage trade

trade m26
Late signal a bit, but still ok after all.

(The chart is from different broker, so you will see the time is not tally)

trade 53

PS: Juz ignore the trade number, is for my record purpose.....

This is my concern today, I've been headache with this long ago.

Testing on 2 case : (1) DMI 20/25 (2) DMI no 20/25

Is it we need to enter the trade if and only if DMI 20/25.
In a small ranging day, it is a good filter to filter out those bad trades and in order to make urself to stay away of bad trade/market.
But it does make a harm to your profit.

In a 5min chart, it is good and best to have DMI 20/25 to filter the trades, but is it same for 15m?

This is one of the scenario I did closely monitor today.

As you can see, all the trades is taken using DMI 20/25. I attach with candlestick chart so that we can see the enter price at the most accurate value.

We enter at the next beginning candle. Wif DMI 20/25. All with TP of 25 and SL at PSAR. All open wif 0.10lot (Assume no trailing or any other stuff/other variable to be constant). 3 trades were close wif +25pips (include EJ, I just saw the trades closed). But GJ still floating, once the GJ floating does not reach TP and hit the SL. Total net profit for the day will goes to 0.
Blue line : entry Red line : TP and SL

My question : Should we ignore the DMi 20/25 and juz go in market once the DMi crossed over??? BUt by ignor-ing 20/25 rule, you will get into more and more false signal... So, How? Solution???

Juz to inform, GJ juz hit the TP.
But still the question is there, shall we wait such a confirmation (20/25) in order to take trades? We might lost out alot of good pips if we wait. But if we not, we will enter a lot of bad trades as well.

trade m27
EJ 15m : +16pips

1) DMI CCI MOM all agree
2) SMA 5 cross T3.
3) Went in once once HeikenAshi (HA) close above T3 line wif no wick.

Setting a TP below pivot.

CLosed manually bcoz I was too tired. (It was 3am in the morning over here)

I forgotten to show you what will happen if you didn't follow rule as what i did. I did this for the second time as I already did it once before.

trade m28
EU 15m : +14pips

1) DMI CCI MOM all agree
2) SMA 5 cross T3.
3) Went in once once HeikenAshi (HA) close above T3 line wif no wick.

Setting a TP below pivot.

CLosed manually bcoz It was to resistance and price action.

(I juz cant sleep so i taken this trade. )

trade m29

GJ 15m : +20pips

1) DMI 20/25 CCI MOM all agree
2) SMA 5 cross T3.
3) Went in at the beginning of the candle

trade m30

GU 15m : +20pips

1) DMI 20/25 CCI MOM all agree
2) SMA 5 cross T3.
3) Went in at the beginning of the candle

Arrow in chart shows you the entry and exit point