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  • #2,501
  • Jan 3, 2012 8:41am Jan 3, 2012 8:41am
Quoting hale-mary
I thought this trade on EU had the perfect signs for a short. The previous bar pulled backed, TDI crossed over. Entered when price got below that pullback bar on the current candle.

Is my timing off, should I have waited for this current candle to close?

I went that trade too. Was looking good, nice pullbar+TDI cross from 68.

I think the reason it failed (or went nowhere) is that market is still in holiday mode. Some countries have bank holiday, and it needs at least 1-2days to get back to normal volume.

I exited on the opening next candle (pinbar up+tdi went up) with -12pips, no big deal, waiting for another setup.

P.
youtube.com/@pantherfxt
  • #2,502
  • Edited 12:20pm Jan 3, 2012 10:51am | Edited 12:20pm
Quoting Polleczko
I went that trade too. Was looking good, nice pullbar+TDI cross from 68.

I think the reason it failed (or went nowhere) is that market is still in holiday mode. Some countries have bank holiday, and it needs at least 1-2days to get back to normal volume.

I exited on the opening next candle (pinbar up+tdi went up) with -12pips, no big deal, waiting for another setup.

P.
This post may sound like i am pissed off but I am not. Hence, Why i keep editing this so people dont get the wrong impression.

I have a different opinion. Every bank is open. I have heard all of these types of "excuses/reasons" before for not taking a trade. Ex) Summer months suck---dont trade. Starting from thanksgiving---dont trade. at this rate you cant even enter the market. Dont take offense but I have heard these types of reasons before through out the entire year on why everyday is a bad day. I know something was wrong with the entry or it just could have been a trade that did not work out. I just need to distinguish which category it was in today.
  • #2,503
  • Jan 3, 2012 12:21pm Jan 3, 2012 12:21pm
Quoting hale-mary
I have a different opinion. Every bank is open. I have heard all of these types of "excuses/reasons" before for not taking a trade. Ex) Summer months suck---dont trade. Starting from thanksgiving---dont trade. at this rate you cant even enter the market. Dont take offense but I have heard these types of reasons before through out the entire year on why everyday is a bad day. I know something was wrong with the entry or it just could have been a trade that did not work out. I just need to distinguish which category it was in today.
Hi, Hale-Mary!

To take or no to take trades during these times, it is entirely up to you. Nobody is forcing you or preventing you from trading. I think he is just saying that during holidays and summer months there is less volatility and liquidity in the market. So all you have to do is to be more conservative on SL and TPs. That's all. And no system is 100 perfect. If you can't make it thru, do the backtesting and once you finish reevaluate those failed trades and see if there is a pattern or something that you might be mising every time. Sometimes things that are very obvious are being missed.

Lost
"All good things come to those who wait..."
  • #2,504
  • Jan 3, 2012 1:20pm Jan 3, 2012 1:20pm
Quoting hale-mary
This post may sound like i am pissed off but I am not. Hence, Why i keep editing this so people dont get the wrong impression.

I have a different opinion. Every bank is open. I have heard all of these types of "excuses/reasons" before for not taking a trade. Ex) Summer months suck---dont trade. Starting from thanksgiving---dont trade. at this rate you cant even enter the market. Dont take offense but I have heard these types of reasons before through out the entire year on why everyday is a bad day. I know something was wrong with the entry...
There is no holy grail. We cannot win all the times, don't understand why U mad, too much lot and SL hit? System is proven to be good, all we have to do is stick to the rules, and have patience mate, Patience is the key. Entry rules was good, but if u would have taken trade on the beggining H1 candle as per rules (that one when TDI crosses), and get out on another (pullback in other side and TDI went up) which yelled EXIT EXIT, u would have lost 10, maximum 15pips. It's not much and u can earn it back easily next days.

About the reasons I don't care, I don't unerstand 'reasons' when ppl are afraid to trade, and then find 1mln excuses because the weather was not good or something u mention. On this system I just take every good signal, and if it end loss or TP hit I just take it and move on another trade.
youtube.com/@pantherfxt
  • #2,505
  • Jan 3, 2012 1:36pm Jan 3, 2012 1:36pm
Quoting lostfx
Hi, Hale-Mary!

To take or no to take trades during these times, it is entirely up to you. Nobody is forcing you or preventing you from trading. I think he is just saying that during holidays and summer months there is less volatility and liquidity in the market. So all you have to do is to be more conservative on SL and TPs. That's all. And no system is 100 perfect. If you can't make it thru, do the backtesting and once you finish reevaluate those failed trades and see if there is a pattern or something that you might be mising every time. Sometimes...
Regardless of the time of year, understand the ranges for your target pairs and still trade PA with the signals, but be aware of current trends / S/R and previous patterns.

I trade year round, so really don't worry too much about time of year - maybe some of the trades take longer or you run with lower TP settings, but you will need to understand what the trading scenario is together with the potential Risk Reward Ratios before entering. With all this said there will be losses - just one of those payments that we must make to the forex gods occasionally.
"To live with Passion, it takes Courage and Grace to survive"
  • #2,506
  • Jan 3, 2012 3:21pm Jan 3, 2012 3:21pm
Hale-Mary- I suggest that the problem with trying to short at that time was that support had not been broken yet. You can see fromm 15min charts posted by LazyLobster and gms that PA bounced off support and then resummed the uptrend.

You have to keep in mind that Higher Hi or Lower Low always applies.

It was not a short until it broke resistance.

I try to react to PA not anticipate it- Wait for confirmation of a trend change or continuation before you place your bet.
  • #2,507
  • Jan 3, 2012 10:01pm Jan 3, 2012 10:01pm
Wil the 4H strategy get updated, renewed, whatever, or is the 1H to be the only one by you? Just curious. piprac
  • #2,508
  • Edited 3:52am Jan 4, 2012 3:41am | Edited 3:52am
man the market seems to have a mind of its own. I thought the pin on the 1 hour was a beautiful sell signal today.
  • #2,509
  • Jan 4, 2012 3:53am Jan 4, 2012 3:53am
Quoting hale-mary
man the market seems to have a mind of its own. I thought the pin on the 1 hour was a perfect sell signal
I wouldn't try the 1H on London today, the 15 is where it's at right now. +12 for London so far, not much but better than a loss.
  • #2,510
  • Jan 4, 2012 3:53am Jan 4, 2012 3:53am
Quoting hale-mary
man the market seems to have a mind of its own. I thought the pin on the 1 hour was a perfect sell signal

True. I took 2 trades this morning, first one when price break through S/R 1.3046, exited when saw no breaking yesterday's high and two pullback candles on m15 (+12pips). Second on the opening H1 candle after nice pullback on H1 and TDI cross, unfortunetly it didn't want to break 1.3020 (today's low), and after third pullback on m15 exited with -4pips.
Attached Image (click to enlarge)
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youtube.com/@pantherfxt
  • #2,511
  • Jan 4, 2012 4:09am Jan 4, 2012 4:09am
Hi all,

Can i confirm the settings for the moving averages?

60ema 0 shift apply to close?
4ema 0 shift apply to close?

Thanks!
  • #2,512
  • Jan 4, 2012 4:10am Jan 4, 2012 4:10am
Hi Hale-Mary,

I'm a newbie but have been closely following this thread, as well as reading up
on SR & stuff on forex basics.

I've closely read all posts on this thread and been back testing on this x-man's system...

Well, to address ur observation...i don't think there was a bearish or short signal at all.

If we're following x-man's rules of 2 candles before the LO @ 8am GMT, then i believe the 2 prior candles are the 6am and 7am candles (GMT), right?

As I observed from my charts, I saw that the (pls i will be glad if anyone can show me how to post a chart here) 6am GMT candle, which was 1 candle prior to LO, showed a bullish bias/pin and not bearish. Infact, it closed bullish with a bullish colour.

So, I waited for the next candle which was the 7am GMT candle to give a confirmation, and guess what? It also closed as a bullish pin. Immediately, i
entered a trade for long targeting wkly R1 @ 1.3070. Easily took 30pips b4 PA dropped.

So, i've been wondering what's all the fuss about a short trade and all. Just my little (actually) my first contribution and 2nd post!

Cheers
  • #2,513
  • Jan 4, 2012 5:01am Jan 4, 2012 5:01am
Quoting hale-mary
man the market seems to have a mind of its own. I thought the pin on the 1 hour was a beautiful sell signal today.



In addition to my earlier post (Bullish to me...),

I've managed to attach a file of my chart.

Pls guys, how do i copy and paste it so that the chart will show straight? Be lighted if someone can put me thru

OK...

I placed 2 arrows to show u the bullish 6am & 7am GMT candles. After, 7am candle closed, I took notice that though the TDI was looking like it was crossing up with the Green on the Red, about to cross, it still didn't show a clear cross yet...but the 2 candles prior to the LO showed bullish to me

So, I went to the 15m TF na saw that the candle had crossed the 60EMA and that the TDI had crossed up. I even checked with the 30m TF and TDI had also crossed up.

In order to assure myself that my trade should be a success, I even chcked the 4hr TF and saw a bullish trend and noted that it was yet to hit the nearest resistance.

So after observing a little pullback on the 15mTF, I went long with guns blazing targeting 30 pips or 1.3070 Resistance level, which got hit.

That's how i played it, though using some of my own ways...i believe we're also to follow the extras that work for u with the system

I'm waiting for the next trade soon and PA is already very Bearish now, but we'll see by when i take the next trade...

Hope my long post is any good for someone
Attached Image (click to enlarge)
Click to Enlarge Name: xman 1hr chart.gif Size: 22 KB
  • #2,514
  • Jan 4, 2012 5:18am Jan 4, 2012 5:18am
Quoting alphachi
In addition to my earlier post (Bullish to me...),

I've managed to attach a file of my chart.

Pls guys, how do i copy and paste it so that the chart will show straight? Be lighted if someone can put me thru

OK...

I placed 2 arrows to show u the bullish 6am & 7am GMT candles. After, 7am candle closed, I took notice that though the TDI was looking like it was crossing up with the Green on the Red, about to cross, it still didn't show a clear cross yet...but the 2 candles prior to the LO showed bullish to me

So, I went to the 15m TF na saw...


...Sorry,

I forgot to mention that I placed a SL at daily pivot of 1.30205 when I plaec the trade I showed above, which as at now has been broken thru setting up for a possible short b4 NY

But I'm not entering any trades yet.
  • #2,515
  • Jan 4, 2012 5:49am Jan 4, 2012 5:49am
Quoting piprac
Wil the 4H strategy get updated, renewed, whatever, or is the 1H to be the only one by you? Just curious. piprac
Hey there buddy

I will be creating a pdf for the 4H method.
Right now im busy with back testing the 1H method.
I have decided that at the start of every year i would back test 1 years worth of data, i have noticed that it certainly improves my trading skills and helps build up my edge towards trading.
It helps me identify key candles this is how my skills are improved.

Although i did back test those months before but i still back test it again and again to refresh my memory. So dont think that you finish back test a certain month then you dont have to back test those months again. If you want your pips then back testing is critical.
X-man the legendary conqueror of markets
  • #2,516
  • Jan 4, 2012 5:57am Jan 4, 2012 5:57am
As i back test i monitor the present market for any trade opportunities and seen lovely reversal signal. I say the longer the wick or tail the better.
As you look at my chart i marked the signal candle with a red arrow, my SL at 40 pips and TP at 50 pips . After that an indecisive candle followed (yellow arrow) which told me at that point that the market could start moving in any direction. I still decided to hold my trade and then the market started moving in my favor scored a nice 50 pips for the day.

I entered at the open of the candle after the signal candle
Attached Image (click to enlarge)
Click to Enlarge Name: bearish.jpg Size: 102 KB
X-man the legendary conqueror of markets
  • #2,517
  • Jan 4, 2012 6:41am Jan 4, 2012 6:41am
X-Man...just a very quick question....do you only trade the eur/usd....with the s3 systems?

Cheers
Dave.
  • #2,518
  • Jan 4, 2012 7:03am Jan 4, 2012 7:03am
When EURUSD test yesterday high and fail to break it. then generate a pull back candle with long wick. Short and glad to get first 50 pips today. Happy to catch it same as X-man.
Attached Image
  • #2,519
  • Jan 4, 2012 7:03am Jan 4, 2012 7:03am
Hi X-Man

I took the same trade but due to power problem, a little bit later

Regards

John from Durban
  • #2,520
  • Jan 4, 2012 7:23am Jan 4, 2012 7:23am
Quoting Erebus
It is all in the manual...

Thanks, let me go clean my glasses
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