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X-Man's Super Simple System

  • #501
  • Dec 1, 2011 12:36am Dec 1, 2011 12:36am
Quoting X-Man
4h Swing trade chart
Guys have a look at this chart
If you entered on the bounce of the daily where i placed my red arrow you wouldve made a nice 200 - 250 pips with a SL of just 80 to 90 pips
Hello X-Man,
On your chart, it seems that the displayed channel is 4 hours and not one day.
Best regards
  • #502
  • Dec 1, 2011 12:41am Dec 1, 2011 12:41am
I have mentioned the pairs i trade in my previous posts

E/U , G/U, A/U , E/J , G/J , U/CAD , E/A , E/CAD

even you can look at the CHF pairs
X-man the legendary conqueror of markets
  • #503
  • Dec 1, 2011 12:47am Dec 1, 2011 12:47am
Quoting Phx62
If I may, let me explain my reasoning for the entries you see on the charts posted by X-Man (post 431). I only trade the EU on the H1 chart during the London session. I do not watch or check any other time frame when I am trading the H1.
Trade 1 (11-28). The red candle prior to the entry candle actually moved about 20 pips up and left a long wick below it during the hour before I entered the trade. In my opinion, that became the set-up candle even though it did not turn blue. The TDI had crossed at the close of the red setup candle, so I...
Thank You PHX, Thanks a Lot
  • #504
  • Dec 1, 2011 12:47am Dec 1, 2011 12:47am
Quoting vcary
Hello X-Man,
On your chart, it seems that the displayed channel is 4 hours and not one day.
Best regards
Its set on daily the channel its not a 4H channel.
Try it and see for yourself.
All my channels are set on daily and use it on the 4H
The channel will break sooner or later because i know that you thinking its a small channel for the daily TF.
Channels always breaks and adjust.
Thats why i posted the channel indi so we dont have to keep drawing the channel manually.
X-man the legendary conqueror of markets
  • #505
  • Dec 1, 2011 12:52am Dec 1, 2011 12:52am
Hi Xman,

thanks for thr great system, i had a question i noticed on your 3 example trades you went short for example on the usd/cad with the pa above the 60ema, does it matter where the 60ema is in relation if you go short or long. and coule you take a look at the example i placed. on this example the pa has touched to upper channel, would i go short on the first red bar and would my stop loss be at the high point on the channel? thanks

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  • #506
  • Dec 1, 2011 1:51am Dec 1, 2011 1:51am
Anyone catch the cable? Or perhaps see that the aud/usa is almost ready for a break south?
"IN CASH WE TRUST"
  • #507
  • Dec 1, 2011 1:56am Dec 1, 2011 1:56am
shorted on AUD/USD a breaking of first red candle, hello profit!!!

did anyone else catch this trade
  • #508
  • Dec 1, 2011 1:58am Dec 1, 2011 1:58am
Quoting LazyLobster
Anyone catch the cable? Or perhaps see that the aud/usa is almost ready for a break south?
both bounce trades, not the best setups for me, in my experience (although as I haven't taken them I'm sure they'll do well )
  • #509
  • Dec 1, 2011 2:12am Dec 1, 2011 2:12am
Quoting Tdizzle1988
shorted on AUD/USD a breaking of first red candle, hello profit!!!

did anyone else catch this trade
yes,

i am also in this trade, are you on the 4hr tf
  • #510
  • Dec 1, 2011 2:14am Dec 1, 2011 2:14am
Quoting juliant
both bounce trades, not the best setups for me, in my experience (although as I haven't taken them I'm sure they'll do well )

I've seen many a bounce trade that passed me by. Saw it breaking on the fifteen and with increased volatility and decided that it would carry to the hourly. Was right, but as with any trade, we'll see eh? Tell ya the truth I almost decided not to trade tonight because of the huge throw that the market did yesterday. Market likes to take a rest after those kinda moves...
"IN CASH WE TRUST"
  • #511
  • Dec 1, 2011 2:21am Dec 1, 2011 2:21am
hey, i entered on the 1H timeframe using the 4H as a guide. I shorted at 1.02215 and took my profit.

i have decided to use the 1H chart and only use the other timeframes as a guide, making sure that they are all in confluence as it puts my mind at ease!!
  • #512
  • Dec 1, 2011 2:29am Dec 1, 2011 2:29am
i traded the 1H short at 102215 and took out profit.

i only trade a 1H timeframe using a 4H as a guide and making sure that i am taking the trade when it is in sync or confluent with the 4H.

i do tend to close out positions early and take profit to early when there is more pips to be made but a profit is better than a loss i guess
  • #513
  • Dec 1, 2011 2:34am Dec 1, 2011 2:34am
I'm out for 24 pips. Not bad, not bad; but got out because getting close to the 60 EMA. Might get back in if good push through, but then it might be a little late for the party... We'll see.
"IN CASH WE TRUST"
  • #514
  • Dec 1, 2011 2:38am Dec 1, 2011 2:38am
Quoting X-Man
I have mentioned that if PA bounces off the daily channel then you dont go against it .
PA just bounced off the bottom of the channel fr G/U so to go short would be suicide.
I posted a chart based on G/U for the 4H and if you entered long where i placed the red arrow you would be up by 200 pips or so. The yellow line is the bottom of the daily channel. and now most probably G/U will form an uptrend.
Examine my chart carefully
Yes, now I see. I used the channel of 4H timeframe and not the daily. Thank you taking your time for educating! I am very determined to succeed. Thrax
  • #515
  • Dec 1, 2011 2:42am Dec 1, 2011 2:42am
Quoting Tdizzle1988
i traded the 1H short at 102215 and took out profit.

i only trade a 1H timeframe using a 4H as a guide and making sure that i am taking the trade when it is in sync or confluent with the 4H.

i do tend to close out positions early and take profit to early when there is more pips to be made but a profit is better than a loss i guess
entered same time, the nzd/usd was pretty much the same both are doing ok, but ill probably take profit soon
  • #516
  • Dec 1, 2011 2:45am Dec 1, 2011 2:45am
Morning everyone, i took the EUR/USD Short trade this morning and thought ide attatch a chart.
It's only my second trade with this strategy so any constructive criticism is welcome, i have moved my SL to break even now, my origional stop loss was 25 though (it was a estimated guess)
Rob
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  • #517
  • Dec 1, 2011 2:49am Dec 1, 2011 2:49am
Quoting Phx62
If I may, let me explain my reasoning for the entries you see on the charts posted by X-Man (post 431). I only trade the EU on the H1 chart during the London session. I do not watch or check any other time frame when I am trading the H1.
Trade 1 (11-28). The red candle prior to the entry candle actually moved about 20 pips up and left a long wick below it during the hour before I entered the trade. In my opinion, that became the set-up candle even though it did not turn blue. The TDI had crossed at the close of the red setup candle, so I...
Phx62

Thanks so much for your detailed reasoning behind your trades. I'm sure that I'm not the only one here who would like to be able to emulate your trading. I think to keep re-reading your posts and studying lots of charts would be the thing for me to do.
  • #518
  • Dec 1, 2011 2:50am Dec 1, 2011 2:50am
Hi guys, bond auctions results (Spain) at 0940GMT today, while (France) at 1000-1030GMT today.

I'd say put a tight SL if you're still shorting.

My bias is it will rise if ECB steps in again for Spain (and it has consistently stepped in when Italy bond yields hit more than 7%).
  • #519
  • Dec 1, 2011 2:51am Dec 1, 2011 2:51am
excellent..another 20 pips from this strategy...took its while to get there...but it got there eventually... thanks X-Man for sharing this strategy....
  • #520
  • Dec 1, 2011 2:59am Dec 1, 2011 2:59am
Btw, the action was in GBPUSD today.
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