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  • #1,321
  • May 4, 2011 6:30am May 4, 2011 6:30am
Quoting dean
Wickedwin!!! thats a fantastic discovery!! This should be part of the rules. Refresh your chart as often as you can....I just tested it on the charts I hadnt been on sonce the candles opened two hours ago and the green TDI line moved on all of them.....this could make a HUGE difference on the entry.....esepcially if trying to get in on the first candle.....also great help mid trade for close outs or to decide to stay in. Everybody needs to know this.
Hold up dean.. Let's wait on E's opinion :-)

On another note, why did my trade on the previous page fail so badly?
  • #1,322
  • May 4, 2011 6:30am May 4, 2011 6:30am
Quoting mfinab
Hi Guys,

I found a nice setup,

Mfinab,
http://my.jetscreenshot.com/4229/201...vlyy-548kb.jpg
Does BigE told to enter at the second or third candle formation ? I'm at the second candle right now ...

Well BigE, you'll have to clarify me with that one please.
  • #1,323
  • May 4, 2011 6:31am May 4, 2011 6:31am
Quoting Spacetec
whats the general consistancy on this strategy does it atleast give 60% win 40% loss , I have not yet tested this but am looking for some feedbacks from traders who have had a go at it thnx
BigE has answered this one already on the thread - think he said 70-80%
  • #1,324
  • May 4, 2011 6:34am May 4, 2011 6:34am
Quoting mfinab
Does BigE told to enter at the second or third candle formation ? I'm at the second candle right now ...

Well BigE, you'll have to clarify me with that one please.
yes your in on the right candle but you've entered late into the candle, you enter as soon as it forms not 2-3 hours after it has formed.
  • #1,325
  • May 4, 2011 6:46am May 4, 2011 6:46am
Quoting Greenlake
Lesso

I was trying to PM you but your profile does not allow me.

Can you PM me re my post 1218........ thanks

Greenlake
just email me greenlake
  • #1,326
  • May 4, 2011 6:53am May 4, 2011 6:53am
Quoting dean
Because if you put a trade on and dont touch your computer and just leave the chart open for say the first hour of the candle and then manually refresh the chart by right clicking and pressing refresh...you will see the green line on the TDI move.....it could move in your favour or it could flatten which warns you that something could be happening..I feel this is pretty important. Try it. click on to a chart you havent been on for a while and refresh it...I did it with mine and most of them moved...some to such a large degree that it would have...
Then you may as well trade off a 5 or 15 minute chart. The beauty of trading this method off the 4 hour or daily is that you make good trades by the rules, then leave it alone and let it have time and room. Just my 2 cents - ask Big E what the current value of that is
Read the entire thread BEFORE you ask questions!
  • #1,327
  • May 4, 2011 6:57am May 4, 2011 6:57am
Quoting Chillypiper
Your using a 1H chart to make a 15 min trade, I would say......Look at the swings of the hi and lows of your objective ( target or S/R at time frame ).. Watch the video on the avg candle.

Chilly,

im happy to sit in a trade for as long as its profitable, but i risk 3% of my account on every trade so if i can cut my risk by a 1/3 or 1/2 i am able to make more $ on every trade.

Ill do some forward testing from here on out, my guess is the TDI will go flat before the price breaks the high of the colour change.

Nollej and dean, i wasnt stating the idea as a rule, it was more of a question for the senior traders here, do your own testing before using it.
  • #1,328
  • May 4, 2011 7:05am May 4, 2011 7:05am
Johnami,
No I am not saying anything about trading lower time frames or changing anything. All I am saying is if the chart is refreshed you have the absolute up to date positioning of the TDI to allow you to make a decision. Big E may know about this fact and doesnt consider it valid and if thats the case I am happy to hear it. Its just something I thought worth looking at.....I have no interest in lowere time frames anymore, as I said...it may not even be worth taking into account, it just surprised me the amount of movement I got on the green line when I refreshed.
  • #1,329
  • May 4, 2011 7:10am May 4, 2011 7:10am
drifter....I never suggested you make it a rule....I am just interested in set and forget so anyone who is testing things like lowering risk and improving risk/reward I am all ears so please keep my informed.
AS you have probably read I started on low time frames and I need to rid myself of that mindset so whatever I can do to place set and forget trades and walk away form the computer the better. I would love to hear how you go.
Not suggesting it as a rule.
cheers mate
  • #1,330
  • May 4, 2011 7:14am May 4, 2011 7:14am
Quoting 2scoops
yes your in on the right candle but you've entered late into the candle, you enter as soon as it forms not 2-3 hours after it has formed.

Hi 2scoops, do we always have to enter at te beginning of a new candle?
(besides it is a rebounce)
  • #1,331
  • May 4, 2011 7:18am May 4, 2011 7:18am
Hi !!
I found another good setup on 4H TF

AUD NZD

Mfinab,
http://my.jetscreenshot.com/4229/201...2opd-519kb.jpg
  • #1,332
  • Edited 7:48am May 4, 2011 7:29am | Edited 7:48am
Quoting xinix1974
Hi 2scoops, do we always have to enter at te beginning of a new candle?
(besides it is a rebounce)
If your following the 5 method rules then you should be watching the charts just before the new 4hr candle forms, then when the new candle forms you check the 5 method rules are met and the forex basics are all looking good. It's all been explained before on the thread. Even on a bounce your watching the charts just before and just after the new 4hr candle forms, if you see the bounce then your trade it.
  • #1,333
  • May 4, 2011 7:43am May 4, 2011 7:43am
mfinab....i see your h1 aud/cad signal as well..only problem i see is the HA candle looks weak...A/U gave a signal an hour ago but failed to run so im not sure an Aussie cross is a good bet..did you take the a/c trade? regards , RB
  • #1,334
  • May 4, 2011 7:56am May 4, 2011 7:56am
Got up at 2 am and took trade, a buy at 1.48595, s/l at 1.49100, t/p at 1.49250. Got up at 5:50 am and my t/p profit was hit at 5:45 for 65 pips.

Gotta love it


correction s/l at 1.4810
Attached Image (click to enlarge)
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  • #1,335
  • May 4, 2011 8:03am May 4, 2011 8:03am
Did someone take this trade? Your opinion?
Attached Image (click to enlarge)
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  • #1,336
  • May 4, 2011 8:16am May 4, 2011 8:16am
yep I took it but willl be setting TP at around 94.70 ish. Down sides are strong support there and smallish candles so will be tight stops
  • #1,337
  • May 4, 2011 8:24am May 4, 2011 8:24am
Hey all,

There seems to be a lot of confusion on entries. I will try to help using chart I posted (posted 1334).

If you look at chart the 1st blue candle (candle before red vert line) is 10 pm 4 hr candle. At this candle the TDI looked like it was going to cross but did not, the red and blue lines formed a point.

I got up at 1:55 am to catch open of 2 am candle, as it opened the blue TDI line opened above (crossed) red line and candle opened blue (entry signal), this is why it is important to watch open of new candle. This happens over and over.

As you can see I had a 50 pip s/l, it only went against me 10 pips and it was a 65 pip winner.

I am not wild about getting up at 2 am. but look at the result, 65 pips while I sleep, no stress watching every tick. Hope this helps.

rustynail
  • #1,338
  • May 4, 2011 8:26am May 4, 2011 8:26am
au/jp closed at a loss of 12 pips due to completely flat tdi green line on 3rd candle
Attached Image (click to enlarge)
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  • #1,339
  • May 4, 2011 8:27am May 4, 2011 8:27am
One thing that might help is to look for important areas of support and resistance in combination to what you're currently doing...

Wont matter what time frame you trade

Cheers

Dane
  • #1,340
  • May 4, 2011 8:28am May 4, 2011 8:28am
People who are using this system for a while now, can u tell me how many pips u make a day (average)
Thanks!
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