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  • #881
  • Dec 5, 2011 11:56am Dec 5, 2011 11:56am
Quoting X-Man
Guys i want to know how many of you guys went long on the NY session?

I would also want to know how many of you guys did serious back testing?
I can tell you know that if you dont spend quality time back testing then you wont see results.
When back testing look for those pull back candles and look at the candle formation with the TDI.
All this is repeated over and over again and if you can identify them through your experience in back testing then i can tell you now that you can make a lot of pips just with 1 pair.
...
do you mean this?
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  • #882
  • Dec 5, 2011 12:38pm Dec 5, 2011 12:38pm
Quoting X-Man
Guys i want to know how many of you guys went long on the NY session?

I would also want to know how many of you guys did serious back testing?
I can tell you know that if you dont spend quality time back testing then you wont see results.
When back testing look for those pull back candles and look at the candle formation with the TDI.
All this is repeated over and over again and if you can identify them through your experience in back testing then i can tell you now that you can make a lot of pips just with 1 pair.
...
I honestly havent entered on EU, but entered on London session and went out with a little pips (+10 maybe). I backtested EU for some months, too... but will have a shorter look at the candle formations.
  • #883
  • Dec 5, 2011 1:00pm Dec 5, 2011 1:00pm
X-Man, GU looks bad to me. We're in demand zone but if this falls then you better close and move back to the one hour swing.
  • #884
  • Dec 5, 2011 1:17pm Dec 5, 2011 1:17pm
Quoting NicoScholtz
Cornelius, what are the settings on your channel indicator? Can you please share because your channel does not look like mine???
Thanks
Nico
Here you go, Nico!
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A good trade is when I Break Even. A great trade is when I Take Profit.
  • #885
  • Dec 5, 2011 1:23pm Dec 5, 2011 1:23pm
Quoting X-Man
Guys i want to know how many of you guys went long on the NY session?

I would also want to know how many of you guys did serious back testing?
I can tell you know that if you dont spend quality time back testing then you wont see results.
When back testing look for those pull back candles and look at the candle formation with the TDI.
[size=3][color=blue]All this is repeated over and over again and if you...
Xman,

could you please define what a pullback candle is, i am not to sure what that means, thanks
  • #886
  • Dec 5, 2011 2:10pm Dec 5, 2011 2:10pm
Quoting Cornelius
Here you go, Nico!
Cornelius, thanks for the response. I find this strange as I am using the same settings as your image but the current price is around the centre line on my chart while yours has it near the bottom channel line??
Regards, Nico
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Success is a marathon, not a sprint!
  • #887
  • Dec 5, 2011 3:40pm Dec 5, 2011 3:40pm
Quoting hale-mary
Well I dont know if this is a good idea, but I am adopting eelfranz's philosophy of finding a pair that appears valid for entry. So I am picking and choosing ones based on the rules. Sometimes the outcome does not work so that is when questions pop up. But I am limiting my self to the Majors. AU EU and GU because for some reason i always get killed on the usd/chf

regardless of pair i seem to get on pinbar entries
I don't trade the yen or the swissy - their central banks and finance ministers are all too willing to intervene for their currency's best senario and their gov'ts are too willing to go along. Plus as small countries they can act faster. I'm just not willing to play their game. The GBP could be thought of the same way but they are tied to Europe so not as willing to turn on a dime.
  • #888
  • Dec 5, 2011 3:42pm Dec 5, 2011 3:42pm
Quoting NicoScholtz
Cornelius, thanks for the response. I find this strange as I am using the same settings as your image but the current price is around the centre line on my chart while yours has it near the bottom channel line??
Regards, Nico
I really don't know what say... Perhaps different broker data feeds... Even so, the difference is very noticeable. Try switching the timeframe between daily and H4 like X-Man mentioned. Try using the indicator on other broker platforms. By the way, I'm using IBFX AU.
A good trade is when I Break Even. A great trade is when I Take Profit.
  • #889
  • Dec 5, 2011 5:51pm Dec 5, 2011 5:51pm
Quoting NicoScholtz
Cornelius, thanks for the response. I find this strange as I am using the same settings as your image but the current price is around the centre line on my chart while yours has it near the bottom channel line??
Regards, Nico
Not saying if there is right or wrong, but this the same as yours
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It takes a lot for me to IGNORE you, but you can try.
  • #890
  • Dec 5, 2011 7:10pm Dec 5, 2011 7:10pm
Took 2 trades today....the first one was a lesson in patience....it went up 46 of the 50 pips I needed and bounced around but it finally hit my TP about 8 hours later. I did not monitor the trade after moving my SL to BE....otherwise I probably would have exited for a smaller profit. One thing I have noticed is that when the TDI red line is sloping up at a good angle, many times the green line will bounce off it or cross slightly, then cross back over and continue in the same direction as the red line.
The second trade was just the opposite.....a cross of the TDI, entry on the opening of the 2nd candle and a quick 50 pips. Overall a very good 100 pip day.
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  • #891
  • Dec 5, 2011 7:51pm Dec 5, 2011 7:51pm
Quoting Phx62
One thing I have noticed is that when the TDI red line is sloping up at a good angle, many times the green line will bounce off it or cross slightly, then cross back over and continue in the same direction as the red line.
.
This statement is very important in reading the TDI. I think everyone should know this for both methods. Awsome one as always Phx62. I would like to add this if I may. If the TDI is hugging the 50 line with no real slope forming on the red line then market is too choppy or consolidating (the opposite of Phx62 is saying). If you use the blue lines on TDI it works like bollinger bands in that they will narrow at these times to give you indication,but you can see this from TDI without it and will keep your charts cleaner.
"IN CASH WE TRUST"
  • #892
  • Dec 5, 2011 8:01pm Dec 5, 2011 8:01pm
Quoting Phx62
Took 2 trades today.....
Phx62 excellent trade. In the first trade I exit very fast and only took 15 pips. I am amazed at your patience.

Please tell me how many pips to move SL to BE?

Thanks.
Enter Signature
  • #893
  • Dec 5, 2011 8:31pm Dec 5, 2011 8:31pm
Quoting Mantis
Hi X-Man... I've been reading about Trading Made Simple Thread by Eelfranz, kind of like this simple system. Then I found your thread too.

I'm trying this system on Demo, I've marked the time as you said.
My problem is my entry point and SL point, I set 1:1 ratio on TP : SL, but sometime 1:2 on TP:SL. I think if it hit more SL, well certainly I will loose my account......
Mantis/All
It took me 2 blown accounts back in my early days of trading for the absolutely critical aspect of disciplined trade management to finally sink in.
The placement of your SL determines your trade lot amount so your risk is always the same...Period.

Example..
If you're risking 5% (my max) on a trade, and you have a 1000.00 balance, your risk on that trade is 50.00..That's it!
If you determine your SL has to be 20pts you enter the trade with a .25 lot.
If you determine your SL has to be 50pts you enter the trade with a .10 lot.
Your risk ALWAYS remains the same...50.00

Risk/Money management...the make or break of this chaos

Enter Signature
  • #894
  • Dec 5, 2011 8:42pm Dec 5, 2011 8:42pm
Thanks for that PHX62, very good tip. I love it.



Quoting Phx62
Took 2 trades today....the first one was a lesson in patience....it went up 46 of the 50 pips I needed and bounced around but it finally hit my TP about 8 hours later. I did not monitor the trade after moving my SL to BE....otherwise I probably would have exited for a smaller profit. One thing I have noticed is that when the TDI red line is sloping up at a good angle, many times the green line will bounce off it or cross slightly, then cross back over and continue in the same direction as the red line.
The second trade was just the opposite.....a...
  • #895
  • Dec 5, 2011 10:37pm Dec 5, 2011 10:37pm
Quoting maudur
Phx62 excellent trade. In the first trade I exit very fast and only took 15 pips. I am amazed at your patience.

Please tell me how many pips to move SL to BE?

Thanks.
I moved it at 28 pips.....no reason at that number....was just getting ready for an appt.
  • #896
  • Dec 5, 2011 11:12pm Dec 5, 2011 11:12pm
First trade back in the Forex and my SL was hit. Down 53 pips already. Here we go again? At least I know what I did wrong.....
  • #897
  • Dec 5, 2011 11:15pm Dec 5, 2011 11:15pm
Quoting Phx62
Took 2 trades today....the first one was a lesson in patience....it went up 46 of the 50 pips I needed and bounced around but it finally hit my TP about 8 hours later. I did not monitor the trade after moving my SL to BE....otherwise I probably would have exited for a smaller profit. One thing I have noticed is that when the TDI red line is sloping up at a good angle, many times the green line will bounce off it or cross slightly, then cross back over and continue in the same direction as the red line.
The second trade was just the opposite.....a...
I would have given you a voucher if I could. Awesome and insightful as always.
  • #898
  • Dec 5, 2011 11:26pm Dec 5, 2011 11:26pm
Quoting hutrader
X-Man, GU looks bad to me. We're in demand zone but if this falls then you better close and move back to the one hour swing.
Yeah you right , Thanx for the heads up i did exit my swing trades manually until i find a clear entry again
I never really did understand that demand and supply areas.
X-man the legendary conqueror of markets
  • #899
  • Dec 5, 2011 11:35pm Dec 5, 2011 11:35pm
the 4 H system.
This is my first picture of the system.I have the template on the chart.Wich more indicators i must do it on the chart?
thx steve
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  • #900
  • Dec 5, 2011 11:39pm Dec 5, 2011 11:39pm
Good morning World

You guys are ready for another awesome trading day?
Ive been back testing G/U on 1H and looks good.
Soon we will be doubling our pips.
I only trade a pair on the 1H chart when i have done enough back testing which makes me very confident.
X-man the legendary conqueror of markets
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