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  • #141
  • Mar 18, 2011 4:06am Mar 18, 2011 4:06am
Quoting pipfirst
Hi Arezab,

Do you try this system in 15 minute chart ?


Thanks,
No because this system relies mostly on PA or candle stick patterns. Candle stick patterns are not reliable in lower time frames. Of course you can try it in 15M chart too because theoretically candle stick patterns are valid in every time frame but from my experience you will get too many whipsaws and false signals which will waste your time and money. So I don't recommend it.
Discipline + Patience - Fear - Greed = Success
  • #142
  • Mar 18, 2011 5:58am Mar 18, 2011 5:58am
ARZ,
Hope your in the latest move up. How would you handle the first break of the MA (green arrow) here? The bar finishes above the MA but closes with a tail on top. Enter on the break of the tail? thanks
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  • #143
  • Mar 21, 2011 8:39am Mar 21, 2011 8:39am
Arezab,
great job, really, here we have something really good.
I'm a long time trader, I make a living about it and this is a very serius business for me.
As you imagine during the last twelfe years I was a hard student about money market, so it takes me more that six years to be profitable and here you show something really good and simple.
What Toothman ask is a very good question, if you let me I'll do my little contribution here.
Toothman, look the first thing you mus do is follow the system as close as you can, if you had been do it the anwer would be in front of your eyes but is a good oportunitty to everybody to learn something more.
I'll attach a chart and the answer si: YOU HAVE TO DO NOTHING, look the oscillator, he will show you the way, look the big yellow arrows I paint in the chart, in each one you have one trigger setup, unfortunally I was sleeping when they happend, but it doesn't matter more will come.
At this moment the price is a few pips to reach a hard resistence, so as I can see in the first: +180 pips, in the second: +110 and the third: +23 I would think in close all open whit +313 pips.....just like that.
Hope this help and I wish you the best.
Regards
Pop
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To make an omelet you have to break a few eggs so breathe and be happy
  • #144
  • Mar 21, 2011 9:22am Mar 21, 2011 9:22am
Think that onece of the most important things Arezab teach here is that is not important how you do or what is your approach to the market always you learn to read it.....ie, see support & resistence and price actions, concentrations zones, that is really the market and where we must see to.
In the last post I said the next resistence is a good place to go out...may be the price go on, nobody nows but we can be safe looking the resistence and close there, behind you'll can see how I draw the supports or resistence, just simple go one time frame up (4hs) and turn candle stick charts to line charts and in each V can see....something happend.
First 4h line chart then 1h candle charts, simple
Hope this help.
Regards
Pop.
Attached Image(s) (click to enlarge)
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To make an omelet you have to break a few eggs so breathe and be happy
  • #145
  • Edited 7:02pm Mar 21, 2011 6:21pm | Edited 7:02pm
Popeye ... thanks for contribution. There are some points which I'd like to mention:

As I've said before not every PA is a signal to enter a position. we have to be selective to pick up only those with higher quality. Oscillator is a good help to spot a good PA pattern but sometimes it fails too.

That red candle today stopped me out quickly. The position No. 11 was a nice pattern but the news announcement for euro took it out.

In time I've learned to be more patient which I wasn't at all when I started about 4 years ago. Learning to be patient is a good remedy for being away of over trading and also to overcome fear and greed. It's better to go for the big ones.
Discipline + Patience - Fear - Greed = Success
  • #146
  • Mar 21, 2011 6:52pm Mar 21, 2011 6:52pm
This is a summary of my activity since about last week or so.

You see these sign on my chart:

The red circles stopped out. The yellow one closed at b/e (we set to drag sl to b/e when the position is +50 in profit). The green circles never stopped out.

1. -25 pips
2. 0 (the yellow circle means the positions closed out at b/e)
3. -32
4. -15
5. 255 (half size because of SL>40 pips) ... so I counted it for around 125 pips.
6. 205
7. -26
8. 145 (half size because of SL>40) ... so I counted it for around 70 pips.
9. 130
10. 66
11. -19
12. 28
------------
Total= +507 pips ... That is about %51 growth for the account with a risk of %3 for every position ... Not bad.

I closed all positions because I spotted the classic stoch divergence ... I'm out right now waiting for another signal to enter long (as long as price stays above EMA of course).
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Discipline + Patience - Fear - Greed = Success
  • #147
  • Mar 21, 2011 11:08pm Mar 21, 2011 11:08pm
Hi Popeye,

Thanks for your contribution.

Btw, do you enter the trade when first candle cross EMA but the stochastic already in level 80 for buy ?
just like your mark in your chart.

Thanks n Regards,

Quoting Popeye
Arezab,
great job, really, here we have something really good.
I'm a long time trader, I make a living about it and this is a very serius business for me.
As you imagine during the last twelfe years I was a hard student about money market, so it takes me more that six years to be profitable and here you show something really good and simple.
What Toothman ask is a very good question, if you let me I'll do my little contribution here.
Toothman, look the first thing you mus do is follow the system as close as you can, if you had been do it the anwer...
  • #148
  • Mar 22, 2011 12:57am Mar 22, 2011 12:57am
Quoting pipfirst
Hi Popeye,

Thanks for your contribution.

Btw, do you enter the trade when first candle cross EMA but the stochastic already in level 80 for buy ?
just like your mark in your chart.

Thanks n Regards,
Not always. Depends on the situation and chart patterns before cross happened. sometimes yes sometimes not .. the base of our entry is PA + chart patterns .. not EMA or stochastic alone. They are acting just as guides on the chart.
Discipline + Patience - Fear - Greed = Success
  • #149
  • Mar 22, 2011 4:26am Mar 22, 2011 4:26am
Is a %50 fib retrace on the way?

If a midterm retracement starts we should see something around 420 pips down move.
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Discipline + Patience - Fear - Greed = Success
  • #150
  • Mar 22, 2011 5:01am Mar 22, 2011 5:01am
ARZ,
Thank you for the summary. So did you enter at close of the candle on #5 trade? That tail on top that candle gave me concern so I waited for price to break the tail (high of candle).
  • #151
  • Mar 22, 2011 5:24am Mar 22, 2011 5:24am
Quoting Toothman
ARZ,
Thank you for the summary. So did you enter at close of the candle on #5 trade? That tail on top that candle gave me concern so I waited for price to break the tail (high of candle).
yes .. the candle was surely a surge up ... a sign of bulls strangth. Look at the S/R level ... even we could have entered a long positions some pips lower, at S/R level bounce, and get +60 pips more, compared to the entry at #5 .. but of course that was "off system" so I waited for a PA close above EMA to be more confident (we have to be disciplined and follow the rules even though we get less profit).
Discipline + Patience - Fear - Greed = Success
  • #152
  • Mar 22, 2011 9:13am Mar 22, 2011 9:13am
Quoting pipfirst
Hi Popeye,

Thanks for your contribution.

Btw, do you enter the trade when first candle cross EMA but the stochastic already in level 80 for buy ?
just like your mark in your chart.

Thanks n Regards,
Pipfirst, thank you for your post,
If you see my charts, only identify 3 trades, the first one is far away from the EMA CROSS, particulary in that cross you have not the setup formed, the stochastic is up than 80% and there are not a candle pattern in the cross, so I do not consider it as a valid trade.
Remember always you must take the conjunction of the actions, what that means?, you must wait for the candle pattern + stochastic in position + EMA in position + support & resistence + the notice in the market + the dog in the door....+ ...etc.
One day a few years ago, somebody told me this:.."I'm a successfull trader because I only take those trades that are EXTREMELY OBVIOUS"....simple no?
Hope this help.
Pop.
To make an omelet you have to break a few eggs so breathe and be happy
  • #153
  • Mar 22, 2011 11:18am Mar 22, 2011 11:18am
Hi arezab,
i am going to test your system! It looks pretty simple
wish you lots of pips!

cheers
  • #154
  • Mar 22, 2011 11:34am Mar 22, 2011 11:34am
Quoting Popeye
Pipfirst, thank you for your post,
If you see my charts, only identify 3 trades, the first one is far away from the EMA CROSS, particulary in that cross you have not the setup formed, the stochastic is up than 80% and there are not a candle pattern in the cross, so I do not consider it as a valid trade.
Remember always you must take the conjunction of the actions, what that means?, you must wait for the candle pattern + stochastic in position + EMA in position + support & resistence + the notice in the market + the dog in the door....+ ...etc.
One...
Price action while watching S/R, rules in this strategy though. The Stoch. and EMA are just helpful aides.
  • #155
  • Mar 22, 2011 5:50pm Mar 22, 2011 5:50pm
Quoting Popeye
... Remember always you must take the conjunction of the actions, what that means?, you must wait for the candle pattern + stochastic in position + EMA in position + support & resistence + the notice in the market + the dog in the door....+ ...etc.
One day a few years ago, some ...
Pop.
it's not really that hard actually ... specially the last part . In time your eyes will get used to it and capture the proper signals almost instantly. It's like driving a car, when you start to learn you have to take care of many things at the same time, but after a year you won't need to even think about what you are doing, even in hardest situations.
Discipline + Patience - Fear - Greed = Success
  • #156
  • Mar 23, 2011 3:11pm Mar 23, 2011 3:11pm
Quoting Toothman
Price action while watching S/R, rules in this strategy though. The Stoch. and EMA are just helpful aides.

Market behavior, yes, each part of this puzzle will guive you a little part of information...your mind will cook the cake.
Pop
To make an omelet you have to break a few eggs so breathe and be happy
  • #157
  • Mar 23, 2011 3:14pm Mar 23, 2011 3:14pm
Quoting arezab
it's not really that hard actually ... specially the last part . In time your eyes will get used to it and capture the proper signals almost instantly. It's like driving a car, when you start to learn you have to take care of many things at the same time, but after a year you won't need to even think about what you are doing, even in hardest situations.

Yes, you are write.....that's named GRID VISION, like a drive a car, sail a boat or drive a bicke.
The only way to advance the process is to keep things simple.
You are doing a great job here, congratulations
regards
Pop
To make an omelet you have to break a few eggs so breathe and be happy
  • #158
  • Mar 24, 2011 4:44pm Mar 24, 2011 4:44pm
Quoting Popeye
Yes, you are write.....that's named GRID VISION, like a drive a car, sail a boat or drive a bicke.
The only way to advance the process is to keep things simple.
You are doing a great job here, congratulations
regards
Pop
Thanks ... Grid Vision ... that is it. I didn't know the name. BTW it's both my nature and my experience in this market to keep things simple.

I've tested thousands of indicators and hundreds of systems with lots of things on the chart. None of them made me any profit. My success has been in simplicity so far.
Discipline + Patience - Fear - Greed = Success
  • #159
  • Mar 25, 2011 11:45am Mar 25, 2011 11:45am
Hi

Thanks, I have checked that and found it great.

please check GBP/USD and AUD/USD , 30 mins charts give a very good returns ans small stop losses.

Happy trading
Mohd
  • #160
  • Mar 31, 2011 1:47pm Mar 31, 2011 1:47pm
AREZAB,
You did a great job in this thread, the system really works, look I was working whit many indicators and many many system and this one really works.
Think that this is the moment to do by yourself a big review of the system - like a pro.
What I mean is that this is a good moment for you to make a complete review of the system as you present it in the next post as it you where doing for the first time.
If you do it know, a few month later from the first time, you'll fine little changes that you do in the system when you trade and that it will give you biggest diference.
Hope you understand and if there anything I can help, just let me know.
Regards
Pop.
To make an omelet you have to break a few eggs so breathe and be happy
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