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X-Man's Super Simple System

  • #1,841
  • Dec 12, 2011 12:50pm Dec 12, 2011 12:50pm
Quoting X-Man
hey guys

Just want to say dont let the losing trades get you down, I have experienced days like these .It always happens but you just have to stick to your system and you will see that the winning trades will take place.
Every trade is unique
+1V
  • #1,842
  • Dec 12, 2011 12:51pm Dec 12, 2011 12:51pm
Quoting thrax
http://www.forexfactory.com/showthre...94#post4429994
thrax

Thank you. That is the one I was looking for.
  • #1,843
  • Dec 12, 2011 12:52pm Dec 12, 2011 12:52pm
Hi X-man,

Thanks again for sharing your system. It is a great idea to put all the rules in 1 document. We are all looking forward to it :-)

Did you take any other trade beside the one in the morning for -25 pips ?

Keep doing good work !!!


Quoting X-Man
I will be composing The most important rules on 1 document and will add it to post 1. This way everyone will have access to all the info they will need to trade the 1H E/U method.
This will be up by nextweek
"A goal without a plan is just a wish" - Antoine de Saint-Exupery
  • #1,844
  • Dec 12, 2011 1:54pm Dec 12, 2011 1:54pm
X-Man I really like this trading strategy. I have been using the trading made simple strategy with a modecum of success for a few months. This appears to be a similar strategy that i like even better. I look forward to working with you and the others on this thread for the betterment of us all.
  • #1,845
  • Dec 12, 2011 2:01pm Dec 12, 2011 2:01pm
welcome,and good live pips with all traders.
Quoting tomthepoppop
X-Man I really like this trading strategy. I have been using the trading made simple strategy with a modecum of success for a few months. This appears to be a similar strategy that i like even better. I look forward to working with you and the others on this thread for the betterment of us all.
  • #1,846
  • Dec 12, 2011 3:59pm Dec 12, 2011 3:59pm
Quoting lostfx
EU 4H

Raa, most likely is looking on 4H TF for EU to kick in on reversal, since TDI is out of blue bands so there is opportunity for pullback.
I wish it will happen because my trading is going to negative result ....... or I must exit.
  • #1,847
  • Dec 12, 2011 4:14pm Dec 12, 2011 4:14pm
Nothing on that 4hr chart said to go long. You just can't enter a trade blindly because of the outer blue band or because someone else on here said to go long.

Quoting sativa11
I wish it will happen because my trading is going to negative result ....... or I must exit.
  • #1,848
  • Dec 12, 2011 4:31pm Dec 12, 2011 4:31pm
Quoting sativa11
I wish it will happen because my trading is going to negative result ....... or I must exit.
As todd960960 said, there was no indication on the EU 4H TF that indicated a long or a reversal. Raa had simply mentioned that there was a "possibility" of a reversal/pull back when the SHI channel was hit.
You must wait to see that happen before making a decision. Let PA drive your decisions.
Enter Signature
  • #1,849
  • Dec 12, 2011 4:39pm Dec 12, 2011 4:39pm
USDJPY H4 also looking interesting.
  • #1,850
  • Dec 12, 2011 6:22pm Dec 12, 2011 6:22pm
Well, after leaving my computer this morning with one last trade running, I came home to find it in profit, my TP was met. This on the 1 HR time frame E/U with monitoring entry on the 15 minute chart.

Total today, with only trading E/U and G/U 66 pips profit. This from the second half of London until the first couple hours NY.

Twas, indeed, a tough day -- look forward to more of these until the new year, my TP is reduced per trade from 50 to 25.

Happy pippin all
Leona
  • #1,851
  • Dec 12, 2011 7:25pm Dec 12, 2011 7:25pm
I'm just curious

What do you guys do for a living?

I was student at university here in Chile but I dropped out cause I didn't like what I was taking so now I'm dedicated to learn the most I can about forex. I've been trading for 4 months , I went live but I blew up my account due to several reasons I take that loss as a payment for all what've learned since that happened. It wasn't a lot of money just 500 dollars but as a student from this country that's a lot of money. I'm 23 years old and I'm a native spanish speaker (sorry if i'm not writing properly).


What about you?

regards!!!
let's skype: @elchinoazul
  • #1,852
  • Dec 12, 2011 7:58pm Dec 12, 2011 7:58pm
Quoting Rodcisal
I'm just curious

What do you guys do for a living?

I was student at university here in Chile but I dropped out cause I didn't like what I was taking so now I'm dedicated to learn the most I can about forex. I've been trading for 4 months , I went live but I blew up my account due to several reasons I take that loss as a payment for all what've learned since that happened. It wasn't a lot of money just 500 dollars but as a student from this country that's a lot of money. I'm 23 years old and I'm a native spanish speaker (sorry if i'm not writing...
Hello Rodcisal
Your written English is good!
At your age, I think it is good to continue and pursue universtity eductaion and have a working career. Trading forex can be an alternative second income with small capital and you will learn to trade the markets and eventually become good at it. Once you have enough market knowldege and trading experience, you can start trading as a business.
Trading is a business, and then you can trade for a living.
Books to read:
Trading for a Living by Dr Alexandra Elder.
Super Trader by Dr Van Tharp

regards
ET
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #1,853
  • Dec 12, 2011 8:02pm Dec 12, 2011 8:02pm
Quoting emmanuel7788
Hello Rodcisal
Your written English is good!
At your age, I think it is good to continue and pursue universtity eductaion and have a working career. Trading forex can be an alternative second income with small capital and you will leanr to trade the markets and eventuallu become good at it. Once you have enough market knowldega dn trading experince, you can start treat trading as a business.
Trading is a business, and then you can trade for a living.
Books to read:
Trading for a Living by Dr Alexandra Elder.
Super Trader by Dr Van Tharp...

thanks for the advice, I've already read one of those, another book I read was trading in the zone, what a nice book, I think It has change my way of thinking, anyway I'd like to go live to CANADA, I used to live up there and I've fallen in love with that country.
Do you guys think is not a good idea to dedicate full time to trade instad of taking a career at college? I really like this stuff and I don't know, kind of I don't see myself taking up university again...

You didn't answer what do you do for a living? I'm really curious
let's skype: @elchinoazul
  • #1,854
  • Dec 12, 2011 8:09pm Dec 12, 2011 8:09pm
Hi
Well yesterday was a tough day as USD strengthened during the Euro and US sessions and S3 setups were not so clear.

Today maybe some room for correction, look for USD weakness and the S3 setups on H4 and H1.
I am short-term bullish on AUDUSD, EURUSD, and GBPUSD.
NZDUSD - looks like a double bottom reversal too on H1.

Good trading.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #1,855
  • Dec 12, 2011 8:12pm Dec 12, 2011 8:12pm
Quoting Rodcisal
thanks for the advice, I've already read one of those, another book I read was trading in the zone, what a nice book, I think It has change my way of thinking, anyway I'd like to go live to CANADA, I used to live up there and I've fallen in love with that country.
Do you guys think is not a good idea to dedicate full time to trade instad of taking a career at college? I really like this stuff and I don't know, kind of I don't see myself taking up university again...

You didn't answer what do you do for a living? I'm really curious
sorry mate miss that question.
I trade for living for 4 years now, but only after 30 years corporate career where I build up my funds. Now considered 'retired' from the corporate world and do my own small investments and trading stocks and forex.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #1,856
  • Dec 12, 2011 10:13pm Dec 12, 2011 10:13pm
Im 29 and Im in the finance industry earning an above average salary. Nothing about equity and forex, just debt.

I have gone in and out with forex in the past year, looking at M15 and got no where but a small burnt. Now I am dedicated. Because I know with 20 pip per day (assuming 100% accuracy), each trade just risking 3% of my equity. You can turn 1000$ account to $1 million in exactly in 240 trading days.

SSS system can do that, it has the potential. I have traded this method for a few weeks, made mistakes here and there, write it all down, and I am improving. Who say you need to target 100 pip a day. Just 20 pip a day will do the job.

In regarding to this system, 9/10 when there is a signal AT Frankfurt open, it is the wrong signal. Better wait till London open and make the decision. I am also into Phx62's trading style. Get in when bar body breaks Support/Resistance.

Here are my take/observations trading this system so far:

1. Zoom out a bit, draw the 2-3 weeks S/R
2. Zoom in, draw the short term S/R
3. Draw Channels
3. Never trade at Frankfurt open, just watch the stick
4. When trading pull back candle, tail must be longer than body
5. TDI cross act as an indicator/confirmation, usually pull back candle before TDI cross
6. Hair/tail means nothing when it comes to breaking R/S, it's the BODY of the candle!

I am going to do a 200 day backtest in Excel to give me more comfort with this strategy.

I know I am going to get wealthy, I know I can be that 5%, nothing is stopping me now. Nothing will get me down. I will trade from home in 5 years time and retire in 10 years time.

A question for the middle age traders, how do you deal with your partner/wife/girl friends complaining you just sitting in front of the computer after work (i trade from 6pm to 12am) and not spending enough time with them during weekdays? Would be good to hear from suggestions.

Cheers

Hilary
  • #1,857
  • Dec 12, 2011 10:26pm Dec 12, 2011 10:26pm
She gave me crap about it, lol...........
I love trading, no matter how much she complains.........I will keep on being in front of the computer.........
Quoting alteclansing
Im 29 and Im in the finance industry earning an above average salary. Nothing about equity and forex, just debt.

I have gone in and out with forex in the past year, looking at M15 and got no where but a small burnt. Now I am dedicated. Because I know with 20 pip per day (assuming 100% accuracy), each trade just risking 3% of my equity. You can turn 1000$ account to $1 million in exactly in 240 trading days.

SSS system can do that, it has the potential. I have traded this method for a few weeks, made mistakes here and there, write it all down,...
  • #1,858
  • Dec 12, 2011 10:55pm Dec 12, 2011 10:55pm
My only advice is I wouldn't give up your day job until you have sufficient capital to live off which is separate from your trading account. I consult to a small team of ex bank forex traders who have over 15 years experience trading markets and they still struggle - especially in these types of markets ( my consulting advice is business related rather than trading)
  • #1,859
  • Dec 12, 2011 11:27pm Dec 12, 2011 11:27pm
Quoting alteclansing
Im 29 and Im in the finance industry earning an above average salary. Nothing about equity and forex, just debt.

I have gone in and out with forex in the past year, looking at M15 and got no where but a small burnt. Now I am dedicated. Because I know with 20 pip per day (assuming 100% accuracy), each trade just risking 3% of my equity. You can turn 1000$ account to $1 million in exactly in 240 trading days.

SSS system can do that, it has the potential. I have traded this method for a few weeks, made mistakes here and there, write it all down,...
Hilary, I think I was in your same position about a year ago. I felt that if I wasn't there in front of my computer, I may miss a move or a signal. I also own some health clubs as my day job, and I would trade at night. Sometimes, all night. Long story short, I almost drove myself insane, literally. One of the hardest things I had to learn is that the market will be there tomorrow, and the next day, and next week. There will always be another move. I don't "freak out" if I miss a move because I know I can catch another one. Once you learn that, I think your life will be a lot better. This is my two cents (or two pips) worth. I still trade 3 or 4 days a week. I get up early before my little girl wakes up and I go to work, I check the market a few times during the day, and I see if anything interesting is happening after my wife goes to bed. What I don't do is flip out and enter bad trades just because I am sitting in front of the computer an nothing is happening. I also read Trading in the Zone. That helped me a lot with the mental aspect. Good luck with everything.
  • #1,860
  • Dec 12, 2011 11:47pm Dec 12, 2011 11:47pm
Quoting trzcinek
Hi X-man,

Thanks again for sharing your system. It is a great idea to put all the rules in 1 document. We are all looking forward to it :-)

Did you take any other trade beside the one in the morning for -25 pips ?

Keep doing good work !!!
Thanks buddy.
Yes i did take the NY trade yesterday where i seen the pullback that also got stopped out.
Most of my losses are always made on a monday.
Last week monday my first trade was also a loss.
My biggest profits are made from Tues to Thurs.

I wish all the S3 traders a pipful day today.
X-man the legendary conqueror of markets
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