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X-Man's super simple system 4 hour method 1 reply

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X-Man's Super Simple System

Quoting X-Man
[color=Blue][size=3]Zortan

Your statement shows me clearly you havent been reading my posts.
I have been posting to fellow traders that they have to learn the movement of PA on E/U.
Thats why i keep stressing that they should back test , back test and yet more back testing so they can learn the movement of PA.
I said that PA is king, TDI is just a confirmation. where were you when i sent all those posts? I have also stated that people demo this method for 2 months. Never did i tell anyone to go live.
I make my pips per month consistently.
I...

keep your work up. Here are more than enough people, that appreciate your intelligent work!
Traders,
As stated by Vantage - "this is where the work part of trading comes in."
Following a “system” is only part of the requirement for consistent profits. You must know something about market harmonics and structure - and that is still no guarantee.
Here is why I am long EUR/USD right now at 1.3216. Stops are at 1.3150 (Below Dbl bottom) Target 1 is at 1.3266 (2 ATR) Target 2 is at 1.3316 (3 ATR near .618 retrace of downward impulse move)
1 Hr - Cross of TDI up at 4 am CST. (System)
4 Hr – Cross of TDI up at 2 am CST. Higher Time Frame Confirmation (System)
1 Hr – Market Base Line at 32 RSI = oversold (System)
1 Hr – Heiken Ashi Doji Candle at 4am CST (Structure)
1 Hr – Bullish Divergence (Structure)
1 Hr – Dbl Bottom at 1.3165 (Structure)
4 Hr – Bullish Butterfly Pattern at 1.3165 (Structure)
Daily – Previous strong support at 1.3200 area (Structure)
These observations only confirm what I believe to be an edge. I am currently drawn down 30 or so pips and very well may get stopped out. Knowing that trades on a 1 Hr time frame can swing as much as 100 pips, I am not worried about being drawn down or stopped out – that is the purpose of having a protective stop in place. I also know that this trade may take a while to play out - or not - so I don't worry about staring at my charts. After setting my stops and targets, there is nothing left for me to do. This trade was up 20 pips at one time, but I did not panic and close it. Nor will I panic now and close it. I know that losing trades are part of trading.
I agree with Vantage that the EU and its uncertainty can cause a continued downward spiral, but my technicals and trade plan tell me to get long Euro. I am perfectly willing to accept the risk associated with the trade, so I am indifferent as to the outcome. I followed my plan – win or lose, that is all that matters.
dcginc
I am -5 pips for today. Please keep in mind that it is Dec. and the market is going to get harder and harder to trade as we get near the end of the year so make sure that your TP and SL levels are tighter. I am using 20 -25 pips for my target. Remember, 20 pips a day is all you need. Also when your first trade is a loser please don't try to get the pips you lost in a hurry, just wait for the next valid setup. Please keep in mind that systems with a consistent multi-year track record do suffer DD of 20% to 35% which may last for months.
Trading can't be taught but it can be learned
entered on Pullback and now I am at +25.

Thanks X-Man!
Forexsaurus:

I see your point that if we disregaurd the TDI, it does change the system from TMS, but that's the point. Otherwise we would be on TMS. Now X-man did not make it readily apparent that we were to disregaurd TDI at first, but he did make that clear later that the TDI is a training tool to confirm entry. Price is king in his system along with Average Price Bars. Geosany (hope I got your name right) mentioned that you can use CCI and someone else mentioned some sort of moving average. These indicators all have the same fallability: lag. I used to love the feeling of a good indicator telling me to get into the trade. Now, the only indicator I have on my chart is Support and resistance type indicators because they are only telling me what I want to know: Where has price been in the recent past so I can compare to the future. The point I am trying to get at is that sooner or later, the training wheels (indicators) become a hinderance and you must take them off to get better. Realizing this in the beginning does not help us. That is probably why X-man didn't tell us at that time. About page 45 or so it became apparent that Price Action was his focus, and that is when we should have started to at least look at the TDI as the training tool it is with the idea to discard it when Price action makes sense to us. I hope this helps. Good luck to you
"IN CASH WE TRUST"
Quoting X-Man
[color=Blue][size=3]Zortan

Your statement shows me clearly you havent been reading my posts.
I have been posting to fellow traders that they have to learn the movement of PA on E/U.
Thats why i keep stressing that they should back test , back test and yet more back testing so they can learn the movement of PA.
I said that PA is king, TDI is just a confirmation. where were you when i sent all those posts? I have also stated that people demo this method for 2 months. Never did i tell anyone to go live.
I make my pips per month consistently.
I...
Even though I've personally had a net loss with your system, I can fully recognize it's my fault due to poor management and psychology. Thank you for making this thread and for sharing your knowledge. People trade at their own risk and must accept their wins and losses as their own.
Quoting LazyLobster
Forexsaurus:

I see your point that if we disregaurd the TDI, it does change the system from TMS, but that's the point. Otherwise we would be on TMS. Now X-man did not make it readily apparent that we were to disregaurd TDI at first, but he did make that clear later that the TDI is a training tool to confirm entry. Price is king in his system along with Average Price Bars. Geosany (hope I got your name right) mentioned that you can use CCI and someone else mentioned some sort of moving average. These indicators all have the same fallability:...
Thank you very, very much.
Quoting Pecunia
Same here. I could have taken +20 on the tdi cross long, but greed got the better of me. I didn't think it would dip back below 1.3200. Had I taken the 20, I would be BE for the day.



I'm also curious how you got the 44 pips and on which S3 signal...
Read my post again

Quote
@ 1.3195 at the close of the 15min news bar, TDI was already crossed and at a good angle, entries from the 15m can be the way to go when PA is slow. Exited just before daily support @ 1.3224.
The tdi cross on the 15min, plus some PA from the news announcement. Ok it wasn't on the 1hr, but X-man has given us the idea, now as others have said its up to us to use it combined with any other insight or knowledge you may have. Make it your own and develop your strategy.
I'm not saying I now how to make the perfect trades yet, I may lose on the next few, who knows.
Good luck
We have been drifting directionless in a 76 pip range on the EU for the last 19 hours. I do not get why people are referring to this system's performance because of that. It blows my mind to see people with more than a year's experience doing that.

It really does not take a genius to see that it has nothing to do with whether this system works or not.

Prices are faking you across the board. If you are quick, you can make some pips. If you try to trade like you do on a trend day, you will give everything back.

Welcome to December.
Quoting simmo24
Read my post again

The tdi cross on the 15min, plus some PA from the news announcement. Ok it wasn't on the 1hr, but X-man has given us the idea, now as others have said its up to us to use it combined with any other insight or knowledge you may have. Make it your own and develop your strategy.
I'm not saying I now how to make the perfect trades yet, I may lose on the next few, who knows.
Good luck
Entry on M15, got it, thanks. Good pips to you!
Quoting X-Man
Zortan

Your statement shows me clearly you havent been reading my posts.
I have been posting to fellow traders that they have to learn the movement of PA on E/U.
Thats why i keep stressing that they should back test , back test and yet more back testing so they can learn the movement of PA.
[size=3][color=blue]I said that PA is king, TDI is just a confirmation. where were you when i sent all those posts?...
i feel that i'm going to learn a great deal from x-man and like most people on this thread realise that you have to do the work, nothing worthwhile comes easy .
there are also many other knowledgable posters who selflesly try to help us noobies.
so, instead of negative remarks, lets all be gratefull and
a big three cheers for x-man ,he's a star.
rob
dgcinc
I entered at 132.10 my tgt is at next res at 132.80 my stop 131.55 Entry was for much the same reasons as you but not as varied. And I dont give two hoots if I get stopped out also. I was happy to take the trade as I followed my plan and thats all I can do. The market will decide whether I make money or not. All I know is my plan works for me often enough to keep me in front of the game.
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Quoting dcginc
Traders,
As stated by Vantage - "this is where the work part of trading comes in."
Following a “system” is only part of the requirement for consistent profits. You must know something about market harmonics and structure - and that is still no guarantee.
[font=Calibri][size=3]Here is why I am long EUR/USD right now at 1.3216. Stops are at 1.3150 (Below Dbl bottom) Target 1 is at 1.3266 (2 ATR) Target 2 is at 1.3316 (3 ATR near .618 retrace...
Thank you, you have just described my style of trading, i also got in long on the eu at 1.3194 but i will not worry about it, ATM -15 but i will let it ride, i have confidence that it will be in my favor. As you said, it may take a while, if it does good, if it doen't, life goes on and on to another trade because when the dust settles at the end of the day i am confident i will be in profit, something will and always has come up to make me profitable.

Good Luck
Trust your eyes!
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Thanks X-man for sharing with us your trading techniques. Of course it isnt perfect, but hey at least it has a good risk to reward ratio (80%) as you have described. We appreciate your generosity in helping the less experienced traders.

Regarding back test, what would be the best way to do it? By combining price action with TDI? How should we actually carry out our back testing?
It has been mentioned last week that TP should be smaller during the month of december by Phx62 and fellow traders.
The long trade a took i closed it at 10 pips , wasnt quick enough to close it earlier.
I went short at the NY session and closed it for 20 pips.
Closed my A/U trade at 50 pips that i entered at the open of the second blue candle this morning.
Closed U/CHF at break even

A total of 80 pips today
All those small pips seems insignificant but it counts at the end of the day
My A/U trade was on the 4H charts, I traded the retracement
X-man the legendary conqueror of markets
Quoting Steve 56
dgcinc
I entered at 132.10 my tgt is at next res at 132.80 my stop 131.55 Entry was for much the same reasons as you but not as varied. And I dont give two hoots if I get stopped out also. I was happy to take the trade as I followed my plan and thats all I can do. The market will decide whether I make money or not. All I know is my plan works for me often enough to keep me in front of the game.
hi Steve
i wondered why you did'nt wait to see what the tdi did next ?(bounce or breakthrough )
just trying to learn
rob
Quoting dcginc
Traders,
As stated by Vantage - "this is where the work part of trading comes in."
Following a “system” is only part of the requirement for consistent profits. You must know something about market harmonics and structure - and that is still no guarantee.
[font=Calibri][size=3]Here is why I am long EUR/USD right now at 1.3216. Stops are at 1.3150 (Below Dbl bottom) Target 1 is at 1.3266 (2 ATR) Target 2 is at 1.3316 (3 ATR near .618 retrace...

Read this twice traders. Quality post as usual.

Thanks dcginc
I shorted at 1.0238, SL @ 1.0255 & TP @ 1.0204, a bounce trade which I don't do very often so I just have 1 micro invested. Will close out early if I get a smaller profit at a stalling/sideways area. Not overly confident but the 15M had a good pullback but maybe I should have waited for price to clear the low point of the pull back bar.
Quoting X-Man
[color=Blue][size=3]It has been mentioned last week that TP should be smaller during the month of december by Phx62 and fellow traders.
The long trade a took i closed it at 10 pips , wasnt quick enough to close it earlier.
I went short at the NY session and closed it for 20 pips.
Closed my A/U trade at 50 pips that i entered at the open of the second blue candle this morning.
Closed U/CHF at break even

A total of 80 pips today
All those small pips seems insignificant but it counts at the end of the day
My A/U trade was on the 4H charts, I traded...
''

So did you use the 4hr method or the 1 hour setup but on a 4 hour chart?
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