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  • #981
  • Dec 6, 2011 3:27am Dec 6, 2011 3:27am
I said so! I was to scared to get in! When these pullbacks occure it will be a big reverse most of the time!
  • #982
  • Dec 6, 2011 3:42am Dec 6, 2011 3:42am
I´ve got two more questions after browsing through any posts of this thread concerning swing-method.

- if there´s a bounce from the shi channel, current dominating trend doesnt matter?
- if current trend is short (and there is no bounce from shi channel), I will only enter with trend direction (selling tops) and vice versa?

Thanks for your response.

I deeply appreciate your hard work X-Man!

Thanks in advance,
smash
  • #983
  • Dec 6, 2011 3:43am Dec 6, 2011 3:43am
Quoting torbarxa
Good trades!
When you enterd eu, just after teh pullback?
I´d say: it was a hammer formation and entering with next bar after the hammer.
  • #984
  • Dec 6, 2011 3:45am Dec 6, 2011 3:45am
Quoting NicoScholtz
Hi Everyone
We have had some discussions on the 4H charts that display the daily SHI channel differently. I thought that it is dependent on the daily start time of your broker. Each broker determines their own start of the day for their chart signals, often depending on the time zone where they operate. This implies that the H1 and lower time frames should display very similar price candles for all brokers because the time is the same (H1 start on the hour no matter when the hour is) but exact price may differ by a pip or two.

Above H1, candles...

Hi Nico,
You maybe using the same technical indicator. But the broker server time is different, so the D1 and H4 candle can be very different, if the server time is different from GMT0, those servers with GMT+3 and GMT+5 can have very different D1 highs and lows.
The SHI indicator uses the most recent swing highs and swing lows to draw the channel.
If you want to use channeling technique, one good resource is to go to :
http://www.elliottwave.com
you need to signup to receive the free stuff available.
there are good resources on wave theory and also how to draw channels to help you in your trading system.
Happy learning!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #985
  • Dec 6, 2011 3:48am Dec 6, 2011 3:48am
I very like to take trades on pullbacks. (mm)

but on swing trading i dont recommend to do it... stay out of consolidation.
  • #986
  • Dec 6, 2011 4:03am Dec 6, 2011 4:03am
X-Man...you have far more patience with the human race than I do!

People...we were all "Newbies" once, but please take some responsibility for the prosperity of your own future.

X-Man has given you the "tools" he uses to have made this a full time income for him. The system (what he looks at and when) the indicators used to make those decisions, and most importantly...his time.

He has told you to back test, primarily to LEARN...how many have done that and for how many hours? There are still questions about when to start to monitor a session and convert that time to your charts.

The system monitoring starts 1 hour before the session. I can only assume you have internet access if you're trading online. I typed into Google "world time zones" and 1.4 million pages came up...FIGURE IT OUT!

From the information X-Man has given you in his first post, if you cannot conceive the purpose of the SHI Channel, you have internet service...LEARN!

No one is here to spoon feed you, the internet has everything you need...DO THE WORK!

If X-Man were a marketer offering $499.00/month for Signaling Services...would you be OK with that? Many do.

X-Mans system is not a "Push Button System" with a direct "Deposit Button" to your bank account! It is a learned system. There will be SL's hit. From the time you hit the Go button to enter a trade...you're trading on what your own experience has brought you...Period.
OK...Done.

All the best to all during the NY session.


Enter Signature
  • #987
  • Dec 6, 2011 4:04am Dec 6, 2011 4:04am
Quoting NicoScholtz
Hi X-Man
Thank you for the indicator.

The difference in channel appearance is because your indicator (SHI_Channel_Colour_Talk.mq4) only uses the current time frame as a channel with no option to select which time frame to use, eg daily. So you are using the 4Hr channel on a 4Hr chart while I am using a daily channel on a 4 Hr chart as I understood the strategy instructions.

If I set my channel indicator (Sonic SHI Channel MTF.mq4) to 4Hr (rather than daily) it draws exactly on top of your one, confirming that you are seeing a 4Hr channel on...
I have mentioned before that we should view the 4H with the daily shi and then look at 4H with 4H channel.
The 4H channel will give you an idea of where the bounces will be will the daily gives you an overall view
X-man the legendary conqueror of markets
  • #988
  • Dec 6, 2011 4:09am Dec 6, 2011 4:09am
Hello,

I'd like to share with you fellow traders this trade I've just made and went out with 50 pips, I don't know it was luck or I got this under a high probability way of thinking.


This was my way of thinking

I was looking at EURUSD pair as you can see the first two or three candles starting a new day on my timezone are very low range if you look back you'll notice that this happens all the time, then volatility starts with london opening.

I thought TDI is pretty down almost touching 32 level and must go up almost all the times so I went long looking for 40-50 pips. I didn't set a SL cause the times I've done something like this I got stopped out cause my SL was triggered so I was pretty irresponsable and I didn't set it. What I set was my TP cause this is all about, taking profits out of forex and if you look back again EURUSD is pretty volatile (thank long wicks)

Look at the chart
It went 39 pips down an then 50 pips up triggering my TP.

Risk/Reward= 39/50

I think its a pretty good ratio.

What do you guys think?



Cheers.
Attached Image (click to enlarge)
Click to Enlarge Name: sh1.png Size: 82 KB
let's skype: @elchinoazul
  • #989
  • Dec 6, 2011 4:10am Dec 6, 2011 4:10am
Quoting smash85
I am a little bit irritated. If there´s a reversal, you´re also trading outside of your preferred hours? Has GU been backtested, too?
Why are you irritated smash85, did you smash anything LOL.

What do you mean i traded outside my preferred hours, as soon as my SL hit then that very same candle showed me reversal (pullback) I have mentioned time and time before that when i do back testing i see how the pull back candle works thats why i told you guys to pay attention especially to that candle.
Back test and you will know what i mean.
A person who did not do enough back testing will have doubt when looking at a pullback candle.
But i did loads of months worth back testing thats why i was confident to enter on E/U and G/U.
Soon ill be entering trade daily on E/U as well as G/U.
I just have to back test more to tell you guys more on the rules of that pair, it will be very very similar.
X-man the legendary conqueror of markets
  • #990
  • Dec 6, 2011 4:13am Dec 6, 2011 4:13am
Quoting torbarxa
Good trades!
When you enterd eu, just after teh pullback?
Yip i entered as soon as the pullback candle closed.
I did mention before that trading the 1H you have to be flexible.
I have seen these scenarios many times before in E/U it keeps doing the same kinda movement over and over. Ask Phx62 if no one believes me.
X-man the legendary conqueror of markets
  • #991
  • Dec 6, 2011 4:19am Dec 6, 2011 4:19am
Quoting X-Man
I have mentioned before that we should view the 4H with the daily shi and then look at 4H with 4H channel.
The 4H channel will give you an idea of where the bounces will be will the daily gives you an overall view
X-Man

Thank you very much. That clears an issue I had.

Regards
Nico
Success is a marathon, not a sprint!
  • #992
  • Dec 6, 2011 4:22am Dec 6, 2011 4:22am
Entered short GU 1.5629 , SL 1.5659, TP not yet enter, may be 1.5530 or i will close in next 2-3 hours.

This is the first trade of me using x-man system, hope everything will be fine.
Attached Image (click to enlarge)
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Keep Simple...!
  • #993
  • Dec 6, 2011 4:34am Dec 6, 2011 4:34am
Quoting smash85
I´ve got two more questions after browsing through any posts of this thread concerning swing-method.

- if there´s a bounce from the shi channel, current dominating trend doesnt matter?
- if current trend is short (and there is no bounce from shi channel), I will only enter with trend direction (selling tops) and vice versa?

Thanks for your response.

I deeply appreciate your hard work X-Man!

Thanks in advance,
smash
Well look for this:
If PA is above the 60EMA that means we in an uptrend right?
So look at your TDI, when the Green line touches or breaks through the bottom blue bands then you wait for an upward cross over to enter long.

Thats the key

The opposite will apply to downtrend
X-man the legendary conqueror of markets
  • #994
  • Dec 6, 2011 4:45am Dec 6, 2011 4:45am
Quoting SmokeyD
[size=3][font=Lucida Sans Unicode]X-Man...you have far more patience with the human race than I do!

People...we were all "Newbies" once, but please take some responsibility for the prosperity of your own future.

X-Man has given you the "tools" he uses to have made this a full time income for him. The system (what he looks at and when) the indicators used to make those decisions, and most importantly...his time.

He has told you to back test, primarily to LEARN...how many have done that and for how many hours? There are still questions about...
Smokey D my buddy well said.
I think he is absolutely correct
I will try to help evryone as mush as possible but you guys must meet me half way into making an effort.
I can only help you guys to a certain extent the rest will be based on how much effort you put in.
If you look at the TMS thread the same thing happened people were lazy to do their part thats why if you visit that thread you will see thats theres only a handful traders that mastered the system and make constant amount of pips.
X-man the legendary conqueror of markets
  • #995
  • Dec 6, 2011 4:50am Dec 6, 2011 4:50am
Quoting Rodcisal
Hello,

I'd like to share with you fellow traders this trade I've just made and went out with 50 pips, I don't know it was luck or I got this under a high probability way of thinking.


This was my way of thinking

I was looking at EURUSD pair as you can see the first two or three candles starting a new day on my timezone are very low range if you look back you'll notice that this happens all the time, then volatility starts with london opening.

I thought TDI is pretty down almost touching 32 level and must go up almost all the times so I went...
I agree when you say that when TDI is at 32 it will be time to go long and when at 68 its time to go short,
Be careful because i have seen PA go down 100 pips while in the 32 zone and the same with 68 zone. So that wont be a good idea all the time
X-man the legendary conqueror of markets
  • #996
  • Dec 6, 2011 5:17am Dec 6, 2011 5:17am
Hi All, After reading 400 odd pages of Big E's threads in last few months and all of Xmans, I thought it was time to enter the Forum and share my perceptions, personal anecdotes and analysis of charts either of my own or others and bring some of my 9 years experience in trading all types of instruments, some successfully, but others not so, and bring them to the table so to speak. I hope I can be helpful and not critical and be a constructive contributor to this Forum.
Thank You X Man for the effort so far.
  • #997
  • Dec 6, 2011 5:17am Dec 6, 2011 5:17am
Guys view this 4H chart
Notice all the arrows on the PA as well as TDI, those are the things i look for before entering
Attached Image (click to enlarge)
Click to Enlarge Name: 4h chart.jpg Size: 126 KB
X-man the legendary conqueror of markets
  • #998
  • Dec 6, 2011 5:20am Dec 6, 2011 5:20am
Quoting Rodcisal
Hello,

...
It went 39 pips down an then 50 pips up triggering my TP.

Risk/Reward= 39/50

I think its a pretty good ratio.

What do you guys think?

Cheers.
Congratulations. Good trade, but I need to clarify something, your Risk/Reward was not 39/50, was your account balance/50, Please be more cautious.
Enter Signature
  • #999
  • Dec 6, 2011 5:27am Dec 6, 2011 5:27am
Quoting Steve 56
Hi All, After reading 400 odd pages of Big E's threads in last few months and all of Xmans, I thought it was time to enter the Forum and share my perceptions, personal anecdotes and analysis of charts either of my own or others and bring some of my 9 years experience in trading all types of instruments, some successfully, but others not so, and bring them to the table so to speak. I hope I can be helpful and not critical and be a constructive contributor to this Forum.
Thank You X Man for the effort so far.
9years of trading !!! WOW
Thats a lot.
I would love to have a guy with experience on my thread.
I got 6 months of trading experience.
If you minus the demo trading i have 4 months of trading experience.
X-man the legendary conqueror of markets
  • #1,000
  • Dec 6, 2011 5:27am Dec 6, 2011 5:27am
short on E/U 1.3393
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