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  • #2,041
  • Dec 14, 2011 1:01am Dec 14, 2011 1:01am
Quoting robuk
yes, looks like pulback candle , but i think london now 7 am?
rob
Guys...I would not call that a pull back bar.

The market has been ranging consistently by about 30Pips for 9 hours. A "pull back", in my opinion, is PA changing trends...we have no trend yet. Be careful.
Enter Signature
  • #2,042
  • Dec 14, 2011 1:05am Dec 14, 2011 1:05am
Quoting chixie007
It is on the fist vertical line that suggested by X-MAN.Right?
chixie
this is the part i am a bit unsure about,i thought the line was on the opening of the market ? 8 am
hope someone can advise.
rob
  • #2,043
  • Dec 14, 2011 1:06am Dec 14, 2011 1:06am
Quoting robuk
this is the part i am a bit unsure about,i thought the line was on the opening of the market ? 8 am
hope someone can advise.
rob
London wont be open for another 55 minutes. 8am GMT.
  • #2,044
  • Dec 14, 2011 1:09am Dec 14, 2011 1:09am
Quoting X-Man
[color=Blue][size=3]LOL i totally get what you saying.
The thing is that i have always traded this way, payed attention to PA more than my indicators and when i started this thread I wasnt very specific on my rules and the movement of PA. Another trader that trades thi way is Phx62.
Remember my first trade when i traded the pullback and everyone jumped me down because the TDI didnt cross yet.
Thats when i realised i needed to be more specific , not everyone is thinking like me so i have to take the traders step by step to think like me then everyone...

Hi Xman,

I've been silently following ur thread from the moment u started it. Infact, I've been following ur posts right from Trading Made Easy thread and I just
want to express my sincere gratitude for what ure doing here.

Before now, I've never seemed to make a dime in trading forex that I almost came to believe that forex trading isn't real or was just gambling.

I worked in an offshore rig some years back but got booted out of the company due to an error I made. In my quest to find anther source of livelihood, I stumbled on forex trading due to the much advertised hype!

I never knew that I had to first learn the basics of trading before going live but just dived into live trading with disastrous consequences! I've lost more than $30,000 in forex trading using robots, buying expensive systems and courses etc...

Frustration almost overcame me but I've always loved the freedom that forex trading offered. Finally, I believe I'm begining to see an end to the tunnel with a thread like this...and all for free.

Xman, thanks a lot..and also all the contributors who ask questions that people like us wuld have asked and who show that by using the system, it is indeed possible to make money trading forex.

I came to realise that my greatest bane hasn't been in trading profitable systems as I usualy jump from one "holy grail" to the other, but on money management.

Before now, I keep over-leveraging my accounts and trading without stops and no matter how much profit I made I soon blew every account I have opened in the past!

But with ur thread, I'm taking it easy coupled with learning the basics all over again...and I've decided to stick to this system and master it, and I believe I'll soon start hitting overall profitability trading ur system.

So Xman, thanks a lot for this thread...please keep helping us newbies on how to be profitable trading ur system. I'm a newbie even though I started trading forex over 3 years ago with nothing to show.

From now, I guess I'll also become a contributor to this thread and won't hesitate to ask questions when need be.

Thanks!!
  • #2,045
  • Dec 14, 2011 1:11am Dec 14, 2011 1:11am
X-Man, and all the other contributors

Thank you very much for your generosity and continued effort to share your successful strategy and to take the time to answer questions. Some of which were often answered previously!
Thank you to all the others who contribute by sharing their insight and posting of actual trades.

I have been following this thread from the beginning and think it is really excellent!

Thank you for posting the summary of the 1 hour trading method. I would like to suggest that you add a line to point out that you draw the two vertical lines at 6:00 GMT and 12:00 GMT which are two hours before the London Open and one hour before the New York open respectively. The reason being that there were a number of questions earlier in the thread as to exactly where the lines should be and how to apply them to trading decisions. Also, since GMT is not affected by daylight saving but the London and New York openings are, it may be worthwhile to also address whether you shift the lines at daylight savings changeover or not. I believe you said that you do not??

Kind regards, Nico
Success is a marathon, not a sprint!
  • #2,046
  • Dec 14, 2011 1:18am Dec 14, 2011 1:18am
Quoting X-Man
[color=Blue][size=3]LOL i totally get what you saying.
The thing is that i have always traded this way, payed attention to PA more than my indicators and when i started this thread I wasnt very specific on my rules and the movement of PA. Another trader that trades thi way is Phx62.
Remember my first trade when i traded the pullback and everyone jumped me down because the TDI didnt cross yet.
Thats when i realised i needed to be more specific , not everyone is thinking like me so i have to take the traders step by step to think like me then everyone...
hi X-Man,

have there been some major strategy adaptions since 1st version? We stop looking at 1h before opening of each session for signals but direct at start of this session?

Pullbacks: you said, you wait for TDI to confirm. But some signals were taken, when TDI hasn´t yet confirmed. How is your strategy now used proberly?

thnx,
smash
  • #2,047
  • Dec 14, 2011 1:20am Dec 14, 2011 1:20am
I've got a question that has been answered previously but in multiple ways with different answers. Should we start looking for signals right at 8am GMT when the London market opens or 1 hour after at 9am GMT so we can get the best idea as to what the trend/PA will be?
  • #2,048
  • Dec 14, 2011 1:32am Dec 14, 2011 1:32am
Quoting SmokeyD
Guys...I would not call that a pull back bar.

The market has been ranging consistently by about 30Pips for 9 hours. A "pull back", in my opinion, is PA changing trends...we have no trend yet. Be careful.
I am with SmokeyD. There is no pullback bar and market is very narrow ranged - GU,EU and AU.
A breakout is likely and there will be many traders trading the London session breakout strategies abound. Trade carefully or else your brokers&sharks will catch you.
Regards
ET
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #2,049
  • Dec 14, 2011 1:40am Dec 14, 2011 1:40am
Quoting smash85
hi X-Man,

have there been some major strategy adaptions since 1st version? We stop looking at 1h before opening of each session for signals but direct at start of this session?

Pullbacks: you said, you wait for TDI to confirm. But some signals were taken, when TDI hasn´t yet confirmed. How is your strategy now used proberly?

thnx,
smash
No smash nothing has changed. We still look at the market at the same times as we always do the reason why i didnt specify times is because everyone is using different platforms so the times on their platform will be different. If i put 6:00 and 12:00 then traders will be more confused.
We do according to what PA says. TDI is there to help traders give us alil more understanding to whats happening. You can see it as training wheels.
X-man the legendary conqueror of markets
  • #2,050
  • Dec 14, 2011 1:46am Dec 14, 2011 1:46am
Hi,
there were some questions on drawing support and resistance.
The best way is for newbies to learn how to indentify price fractals in different timeframes TFs - starting with M15>H1>H4> D1.
Attached is an indicator which will draw the fractals in M15, H1, H4 and D1.
Use this and practice and train your eyes to see these fractals. Once you can draw key support and resistance lines, you don't need this indicators anymore. Keep your trading charts simple and clear of clutter.
Study the price behaviour on a M15 chart TF.
You must visualize the multi-timeframe concept in your head. .. i.e.
> 4xM15 candles will form one H1 candle,
> 4xH1 candles will form one H4 Candle.
This will help you in this S3 trading.
Wean yourself off the TDI stuff slowly.
rgds
ET
Attached File(s)
File Type: ex4 #MTF Support and Resistance.ex4   6 KB | 886 downloads
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #2,051
  • Dec 14, 2011 1:49am Dec 14, 2011 1:49am
Quoting NicoScholtz
X-Man, and all the other contributors

Thank you very much for your generosity and continued effort to share your successful strategy and to take the time to answer questions. Some of which were often answered previously!
Thank you to all the others who contribute by sharing their insight and posting of actual trades.

I have been following this thread from the beginning and think it is really excellent!

Thank you for posting the summary of the 1 hour trading method. I would like to suggest that you add a line to point out that you draw the...
Thanks Nico

Ok guys i have added to post 1 that the vertical lines should be drawn 2 hours before london session and 1 hour before NY session. This will be the best way for traders to understand where my vertical lines are at.
X-man the legendary conqueror of markets
  • #2,052
  • Dec 14, 2011 1:59am Dec 14, 2011 1:59am
We have gotten a tighter trading range today 38 pips versus 75 pips yesterday which is a sign of a ranging market. Experienced trades can drop to 15M chart and trade reversal candles for 15-25 pips until market moves. Just check out yesterday's 15M chart.
Trading can't be taught but it can be learned
  • #2,053
  • Dec 14, 2011 2:00am Dec 14, 2011 2:00am
Quoting alphachi
Hi Xman,

I've been silently following ur thread from the moment u started it. Infact, I've been following ur posts right from Trading Made Easy thread and I just
want to express my sincere gratitude for what ure doing here.

Before now, I've never seemed to make a dime in trading forex that I almost came to believe that forex trading isn't real or was just gambling.

I worked in an offshore rig some years back but got booted out of the company due to an error I made. In my quest to find anther source of livelihood, I stumbled on forex trading due...
Thanks alpachi

I get a lot of pleasure and a warm feeling inside when i know that im helping others.
I do not want any ones money i just want to help thats all.
Im glad you will be contributing. Sometimes i ask myself why do Pros charge for their systems if they can use their system to get all the money they want.

I recommend all traders thats following the thread to post , contribute and ask questions.
Theres no such thing as a dumb question and you will not be abused when you ask questions over and over.
We are all here to learn and the more i explain the better i get because the rules seen to be stuck in my head and the better i get at explaining the rules.
We will always be more than happy to help the noobs.
Trading is an everyday learning experience.
X-man the legendary conqueror of markets
  • #2,054
  • Dec 14, 2011 2:03am Dec 14, 2011 2:03am
Hi,

I am bullish bias on EU. Also careful of many London Breakout traders today.
See chart attached.

Good Trading!
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD H1 14 Dec scenario.gif Size: 36 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #2,055
  • Dec 14, 2011 2:10am Dec 14, 2011 2:10am
Quoting X-Man
Ok guys i have added to post 1 that the vertical lines should be drawn 2 hours before london session and 1 hour before NY session. This will be the best way for traders to understand where my vertical lines are at.
For those not sure when the markets open, have a look at the bottom of the Forex Factory Home Page. The Green Bar will be according to your local time (if you set it on FF home page!) Attached example shows GMT as local time.
Attached Image
Success is a marathon, not a sprint!
  • #2,056
  • Dec 14, 2011 2:16am Dec 14, 2011 2:16am
E/U still ranging 15 mins after London open....guess the markets on Christmas holiday already!
  • #2,057
  • Dec 14, 2011 2:20am Dec 14, 2011 2:20am
Quoting SmokeyD
Guys...I would not call that a pull back bar.

The market has been ranging consistently by about 30Pips for 9 hours. A "pull back", in my opinion, is PA changing trends...we have no trend yet. Be careful.
There is a lot of wisdom in what SmokeyD has shared here. A reversal bar is valid when it appears after an up or a downtrend. It could be a small or a large trend but there has got to be a clear direction before the pull back bar.
Trading can't be taught but it can be learned
  • #2,058
  • Dec 14, 2011 2:24am Dec 14, 2011 2:24am
Quoting Pipsninja
There is a lot of wisdom in what SmokeyD has shared here. A reversal bar is valid when it appears after an up or a downtrend. It could be a small or a large trend but there has got to be a clear direction before the pull back bar.
Yes exactly. There has to be a bearish or bullish trend first
X-man the legendary conqueror of markets
  • #2,059
  • Dec 14, 2011 2:30am Dec 14, 2011 2:30am
Quoting emmanuel7788
Hi,
there were some questions on drawing support and resistance.
The best way is for newbies to learn how to indentify price fractals in different timeframes TFs - starting with M15>H1>H4> D1.
Attached is an indicator which will draw the fractals in M15, H1, H4 and D1.
Use this and practice and train your eyes to see these fractals. Once you can draw key support and resistance lines, you don't need this indicators anymore. Keep your trading charts simple and clear of clutter.
Study the price behaviour on a M15 chart TF.
You must visualize the...
Dear emmanuel,
Thx.
BR,
Chixie
  • #2,060
  • Dec 14, 2011 2:33am Dec 14, 2011 2:33am
G/U long @ 1.5510 using the H4 system. + 18 pips right now
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