Trading Made Simple

In regards to the market times.

Just go the the Forexfactory homepage and look at the bottom of the page
on the lefthand side where you will see the sessions area.

Here you will see your local time in regards to the market times and then you can compare to charts.

The physical markets open at the following times:
London : 8am (GMT)
New York: 1pm (GMT)

So if you want to compare to Xman, he is situated in South Africa (GMT+2)
So for him the open times will be at the following times but remember this will change in the future due to daylight savings in UK

London: 10am (GMT +2)
New York: 3pm (GMT +2)

But remember to look at your charts and compare your broker time against
real market times as they can differ.

Hi all,

This is Hilary from Australia and I am new to this forum. I would like to say thanks to Big E for this great system and X-MAN for your input/support. I have read more than 500 pages from the beginning and the last 100 odd pages from the end.

X-MAN, your input is much appreciated. As a young bloke I am admiring your ability to trade, though Im only a few years older than you. Your maturity in trading is amazing, keep up with the good work.

I have been trading in the 15min in the past and my account just go up and down, getting no where and plenty of stress. Hard to monitor trades during work etc...

I have been testing this great system with HSI channels and it helped a lot from the original TMS system. I have the following conservative strategy just would like to confirm whether it is too conservative. I'm a sniper person, aim right, and do a head shot person. Some of you can call me a camper!

OK say Channel is showing up trend. I will only do Long trades when TDI touch bottom blue band and rebound and cross. I will increase lot when PA is bouncing off the EMA60 heading north.

If Channel is flat, I will only do TDI touch blue bend and rebound either side. TP will be small like 20-30 pips.

When to exit? Im still not quite like the exit rule where TDI is flat or curved. I was thinking TDI crossed but it eats up a lot of pips. How about stick color change?

Using the above method I do not care about which market is open etc. Is that alright?

Another question for X-man, the 1H E/U London open and NY open method. Previously I have observed this pattern before and tried to trade 15 mins chart, made some good progress before. But using 1H is much better and with TMS it is even better.

My question is if during London open stick, the TDI is already crossed 2-3 sticks before and is already trending, do you still enter the market? I asked because there are some occasions that market is already trending during the asian session, usually 3 hours prior London open. Whats your take on this one X-MAN?

Your help is much appreciated, and you have inspired me like other traders.

Thanks

Hilary

Trend + k +CCI = $$$?

Hey guys

Those vertical lines i mark on my chart , those are VITAL areas.
I understand that it is a little earlier than the actual opening , but i did a lot of back testing and it shows me that volatility starts at those areas.
Thats what we looking for is the volatility .
Usually the london kicks off 1 bar after the vertical line and the new york happens at the vertical line.
If you do back testing then your understanding of this would be much better.

And this has to do with the TMS strategy in what way?

Many thanks X-Man

I have to agree ... Volatility slowly creeps up in Berlin's first hour, normally more so the second half of it, and more importantly as you point out often the direction of trade for the next few hours is set - something I'd been starting to notice but hadn't put into focus or practice just yet ... (of course, a lot of news often released in early London too so does pay to be weary)

X I have to say you are a fantastic observer of the charts - I'm sure you're going to go very far!

Put this into practice today for a full TP hit - always a good feeling.

Guys now you see the light at the end of the tunnel.
Just 2 trades a day and we will be pippin away .
i went short on E/U and made a nice 45 pips.
I was looking to go short beacuase when i drew my fibb i noticed the candles breakin the 0% level, that small blue candle was PA testing and bouncing off the 0% level so that gave me more confirmation.
By the way just say you get on the wrong side of the trade then you can wait for the close of the candle and go in the right direction. Soo you will be in the right direction as you get use to it. PRACTICE PRACTICE PRACTICE

P.S DO NOT JUMP IN THE TRADE BEFORE THE FIRST 1H CAN CLOSE.
let it close then see where you want to go, because a candle can change direction very quickly towards the end of the candle.
I will answer the other traders posts later in the day as i am a little busy today.

For Newbies wondering why the European session is better. This was explained to me by a very experienced trader and I have never seen it on the educational websites so here it goes. Forex is a 24 hour business, but if it did sleep it would be on weekends and the asain session. This is not to put down that session but it is the simple truth that there is less volume at that time. If you pull up an hourly volume chart and check out the different market times you will see a marked increase during the Eurpean session, another increase on the American, and a sizeable decrease on the asain. This is pertinent to TMS and to some extent to what X-Man has been talking around because it explaines why the European session is so much better. You see when the market sleeps during the Asain session and slowly wakes up in the European session, you can see the direction that the market wants to start moving in and jump in. If you get it wrong with a head fake you can usually spot it and turn around. Also, the news during the Eurpean session tends to do less drastic things to the market than the knee jerk reactions on the American. This is not to say that news doesn't affect this session, merely that it seems to impact a little less or not as quickly. Now about the times when America and Europe are both open. These often have the greatest amount of volume in the day, leading us to believe that America has the most amount of trading in the day. Not true. As you look at overall volume a good analysis will show that Europe has a definitive advantage on volume and it does tend to trend further. The USA just adds to this momentum and market psycology does the rest when the talking heads wake up. I might also add that sunday night EST (my time 0100 or so) when the weekend is up and the giant starts to awaken is usually the best time to trade as the market is in extreme slumber (that is after the gap closes anyway, be sure to check that out first) and tends to pick a decisive direction then lolly gags along. Try it. Just make sure that the gap has been closed on the currency or that you understand that particular wrinkle before jumping in. Hope this helps.

EUR/USD cross trade:

Long: 1,3234
Stop Loss: 1,3212
Take Profit: 1,3278

I'm long on the new 4H (08:00 CT) @ 1.5481 with a SL @ .5417 and TP @.5563 - slightly better but not much of a 1:1 ratio. I had shorted this pr one hour earlier and saw it reverse in the last 5-6 minutes for a -24 pips, hope I'm not revenge trading but I have used fractals and the SHI channel for guidance. Definitely against the overall trend however and maybe not a good day to trade.

Hi piprac..,
but chart is in bearish..,

I didnt take the NY trade coz i wasnt at my PC but if you look at today there is potential for 100 pips (london trade +NY trade)
Hope you guys are enjoying the pips. Time to get a bigger wheelbarrow

I've closed my long position with +33 pips!
I should had take the trade before, anyway

Hey there hilary thanks so much for your comments.
Well your exit strategy will be based on you as a trader, i personally dont exit when I see TDI hooks or go flat. Yeah i will exit when i see the candle change color.
If I see the pair trending before the session can start which i did observe before then i dont take any trade, i will sit out of the trade and wait for the next session to start.
I will be starting a thread based on my SHI channel so i will be able to discuss it in more detail. Hopefully the thread will be up and running by monday

nice 1 Luchetto i see you getting the hang of it

2 small losses 2day. Short NZDUSD and EJ on H4
One was maybe just a bad trade as hadn't really broken out of the range, the other..sh1t happens

Attached is a chart with the trades I took this week. Like X-man, my trading plan is based on primarily trading the Frankfurt/London session (shown with the green boxes), which includes the first 3 hours of the NY session (shown by the blue boxes). When I get a signal to enter, especially during the first couple of hours of each session, I get the best results. I entered a total of 9 trades this week, all within those time frames and was successful on all of them, even though a couple of them were exited early because PA retraced. I have learned that patience and not overtrading are two of the keys to success. In my early days of trading, I tried to take every entry signal, regardless of time frame or time of day and could not seem to hold on to the pips. Trading the H1, basically during London, has been my key to making and keeping most of those pips.
Successful trading to all!!

X-Man - take a look over on BabyPips, someone has started an SHI strategy over there, you might want to compare/contrast with it when you start your new thread.

Q. - you don't use your SHI channel with the 1H London & NY opens, right?

Again, many thanks to you and all of the contributors that perhaps wil get me on the right track - if I pay attention!! p.

Phx62, Thanks for your explanations. Do you always use the stochastic?