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X-Man's Super Simple System

  • #721
  • Edited Dec 3, 2011 2:10am Dec 2, 2011 10:30pm | Edited Dec 3, 2011 2:10am
  •  fivex
  • | Joined Sep 2011 | Status: This is the title that appears | 247 Posts
Quoting X-Man
I have seen those circles before and dont really know what it means.
I dont pay much attention to it when it happens.
testing / penetrating the SHI.
  • #722
  • Dec 2, 2011 10:38pm Dec 2, 2011 10:38pm
Quoting nunrgguy
Wow! This thread is growing quickly.

X-Man - I've a couple of questions for clarification in my own mind for you if you don't mind?

Hourly method trading times - you start looking at the market just before 6AM UK time at the moment (Frankfurt open)? During the summer months this will shift by 1 hour here I think to 5AM.

When you see TDI crossing do you cross on the bar 'live' or do you wait for a closed bar, on the hour with a confirmed TDI cross before entering? If it's on a live bar what do you look for in its formation i.e. over the 4EMA and...
Well my vertical lines will always be at those times no matter which season it is.
Yeah i like to open my charts before those times to monitor whats going on.
I never ever enter on a live candle, i always wait for the candle to close and then enter on the open of the next candle.
Yes i do get faked out , the lower the TF the more fake outs.

Yip by all means you can move your SL to BE, but dont move it too soon

Yip i always close my 1H trade just before the NY opening and then look for another trade at the NY opening
X-man the legendary conqueror of markets
  • #723
  • Dec 2, 2011 11:19pm Dec 2, 2011 11:19pm
Have a great weekend everyone.
I recommend that the newbies do lots of back testing to improve your skills.
X-man the legendary conqueror of markets
  • #724
  • Dec 3, 2011 12:26am Dec 3, 2011 12:26am
im busy back testing the E/U 1H method.
If you really want to make pips and serious then you got to put effort.

By the way a useful tip for the 1H method.
Look for those pullback candles, Whenever theres a pullback candle 80% to 90% of the time PA will go in the opposite direction.
So you guys can look for that candle as a signal candle.
Look for it in the london session and the first 3 hours of the NY session.
The pullback must have a long wick.

I hope this tip help traders understand the method a little more.
X-man the legendary conqueror of markets
  • #725
  • Dec 3, 2011 12:40am Dec 3, 2011 12:40am
Quoting X-Man
im busy back testing the E/U 1H method.
If you really want to make pips and serious then you got to put effort.

By the way a useful tip for the 1H method.
Look for those pullback candles, Whenever theres a pullback candle 80% to 90% of the time PA will go in the opposite direction.
So you guys can look for that candle as a signal candle.
Look for it in the london session and the first 3 hours of the NY session.
The pullback must have a long wick.

I hope this tip help traders understand the method a little more.
...
Thank you, X-Man for all you do!
To back testing,is it justvisual for you ordoyou useLFH simulator or other indicator?
vcary
  • #726
  • Dec 3, 2011 12:58am Dec 3, 2011 12:58am
My back testing is manual

i do each session slowly monitoring what really happened there and what signals are common at those places.
Thats the best way to learn and build your experience.

I only back test those 2 sessions. I will never look at the asian session.
I use the crosshair to measure the amount of pips, thanks to Krypty and Micheal simon for showing me how that works hehe.
X-man the legendary conqueror of markets
  • #727
  • Dec 3, 2011 1:26am Dec 3, 2011 1:26am
Quoting X-Man
My back testing is manual

i do each session slowly monitoring what really happened there and what signals are common at those places.
Thats the best way to learn and build your experience.

I only back test those 2 sessions. I will never look at the asian session.
I use the crosshair to measure the amount of pips, thanks to Krypty and Micheal simon for showing me how that works hehe.
Thank you very much X-Man and a good week end to you!
  • #728
  • Dec 3, 2011 4:36am Dec 3, 2011 4:36am
Quoting fivex
SHI with an alert, It is also on post #93 of this thread. Thanks DL4HAO

http://www.forexfactory.com/attachme...9&d=1322381192
Yeah I've tried that indi. Only problem is I don't think you can set it up to display the daily channel on the 4H chart.
  • #729
  • Dec 3, 2011 5:41am Dec 3, 2011 5:41am
Hi all,

Looking at Daily USD/CHF and it is forming a Ascending triangle. PA touching top daily SHI channel and EMA 60 is pushing upward. Does that mean it has a possibility of upward breakout?

If it is a fake breakout it might head down to the bottom of the daily channel, but I think it is safer to short if PA under EMA60.

But if you look at USD/JPY, it has a daily down trend and PA is touching top SHI channel. Forming a decending triangle and has a higher probability of going down.

What do you all think?

Hilary
  • #730
  • Dec 3, 2011 6:23am Dec 3, 2011 6:23am
Quoting X-Man
Well my vertical lines will always be at those times no matter which season it is.
Yeah i like to open my charts before those times to monitor whats going on.
I never ever enter on a live candle, i always wait for the candle to close and then enter on the open of the next candle.
Yes i do get faked out , the lower the TF the more fake outs.

Yip by all means you can move your SL to BE, but dont move it too soon

Yip i always close my 1H trade just before the NY opening and then look for another trade at the NY opening
...

Cool - that sounds almost how I've been looking at it but I've been using a different MA. Yeah you're right won't have to change your lines as your broker time will not change but as a trader you will have to change what time you get up to catch the market, that's what I really meant - for the purpose of backtesting though it won't affect anything.

I hate having to get up so early in the summer, it's crazy getting up at 5 in the morning to catch the open, it's bad enough getting up at 6 in the winter

I really do recommend Forex Tester for manual back-testing btw - I find it invaluable and great for this method now the newest one has the TDI indicator.
  • #731
  • Dec 3, 2011 6:29am Dec 3, 2011 6:29am
Hilary,

Review post #612, may give you some insight.

Jon
  • #732
  • Dec 3, 2011 8:21am Dec 3, 2011 8:21am
So I was looking at the EU 4H chart to plan (or attempt to) some possible swing trades for next week, and possible identify what may happen for the EU 1H trades.
Chart 1: EU 4H with the 4H trend line. This is showing a downward trend which could make a case the EU is heading south.
Attached Image (click to enlarge)
Click to Enlarge Name: eu 4h with 4h trend.jpg Size: 153 KB


This next chart is the EU 4H with the Daily trend line (per Xman's system) that is showing an up trend.
Attached Image (click to enlarge)
Click to Enlarge Name: eu 4h with daily trend.jpg Size: 191 KB


Would like some other traders to give me their thoughts. Thanks

Fitness
  • #733
  • Dec 3, 2011 8:24am Dec 3, 2011 8:24am
Quoting X-Man
My back testing is manual

i do each session slowly monitoring what really happened there and what signals are common at those places.
Thats the best way to learn and build your experience.

I only back test those 2 sessions. I will never look at the asian session.
I use the crosshair to measure the amount of pips, thanks to Krypty and Micheal simon for showing me how that works hehe....
X-Man - you are doing a great job of helping people over here.

May I suggest, when you do the manual testing, instead of monitoring the chart try to simulate as you are taking a live trade, for example, as soon as you see a valid signal, pause the price movement, mark that particular candle on which you will enter the trade and decide when you will close the trade based on price movement on the chart. Since you don't know what price is going to do next this exercise will simulate the real time environment.

This is a very slow and time consuming process for sure, however, will not only test the system but the trader's ability to read the price and practice the decision making process. Taking the trade based on any system is a the easiest part, managing the trade is the most difficult piece.

Trade well.
Forex is boring but profitable with patience and discipline
  • #734
  • Dec 3, 2011 8:34am Dec 3, 2011 8:34am
hello, i add to this system this indicator
Attached File(s)
File Type: mq4 fibo+update.mq4   10 KB | 732 downloads
  • #735
  • Dec 3, 2011 8:35am Dec 3, 2011 8:35am
X-Man,

How can we backtest the 4H swing trading method due the ever-changing/repainting (if i may) SHI channel indicator?

Thanks for your ideas!
  • #736
  • Dec 3, 2011 8:46am Dec 3, 2011 8:46am
Quoting prftablefool
X-Man - you are doing a great job of helping people over here.

May I suggest, when you do the manual testing, instead of monitoring the chart try to simulate as you are taking a live trade, for example, as soon as you see a valid signal, pause the price movement, mark that particular candle on which you will enter the trade and decide when you will close the trade based on price movement on the chart. Since you don't know what price is going to do next this exercise will simulate the real time environment.

This is a very slow and time consuming...
How do i simulate ? I havent tried that before. I would love to simulate it would be much better
Explain it to me in detail.
Thanks
X-man the legendary conqueror of markets
  • #737
  • Dec 3, 2011 8:48am Dec 3, 2011 8:48am
Quoting tiverton
X-Man,

How can we backtest the 4H swing trading method due the ever-changing/repainting (if i may) SHI channel indicator?

Thanks for your ideas!
You can draw manual channels or you just use the 60EMA as a guideline.
X-man the legendary conqueror of markets
  • #738
  • Dec 3, 2011 9:41am Dec 3, 2011 9:41am
Quoting X-Man
How do i simulate ? I havent tried that before. I would love to simulate it would be much better
Explain it to me in detail.
Thanks
How you are doing the manual testing ?? Probably you are doing the same what I was trying to explain except taking the fictious trades.
Forex is boring but profitable with patience and discipline
  • #739
  • Dec 3, 2011 9:47am Dec 3, 2011 9:47am
Quoting X-Man
How do i simulate ? I havent tried that before. I would love to simulate it would be much better
Explain it to me in detail.
Thanks
Forex Tester that I mentioned will do just that - you just click through, bar by bar using the space bar.

See decent blue bar, place order and stop, click through next bars, win or lose, close trade out etc etc. All it does though is give you some theoretical idea of expectancy (is this thing ACTUALLY profitable in theory?) but what it can never do is take into account all those trades you missed, all those you didn't take because of news, all those you moved your stop on through fear and got stopped out, all those that price gapped over your stop and you had a big loss (the tester will just stop you out), all those you were slipped a mile on, all those you cut too soon (which you didn't on sim) etc etc etc. The psychology of live is so very very different.
  • #740
  • Dec 3, 2011 10:09am Dec 3, 2011 10:09am
It is always better to forward test any system. Give it time and we will see the potential of the system.
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