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  • #2,521
  • Jan 4, 2012 8:01am Jan 4, 2012 8:01am
Not that you watch it here but COT data shows the big boys are adding to their eur shorts. 1.20 coming, we'll see.
  • #2,522
  • Jan 4, 2012 8:16am Jan 4, 2012 8:16am
EURGBP H4 short, TP of 45 pips (2xATR(7)) hit.
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP_H4_strategy name_20120104151344.gif Size: 22 KB
  • #2,523
  • Jan 4, 2012 8:22am Jan 4, 2012 8:22am
Quoting X-Man
[color=Blue][size=3]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...
Good job X-man,
I identified a buy opportunity early today represented by the TMS OSC cross arrow but seeing resistance ahead I exited at 10 pips (with 2 lots).

I was afraid the market would start to range until the New York session didn't know there would be another opportunity to go short.
I shut my platform and focused on my day job.
I would have taken it with 2 lots again cos this was an AAA+ trade RSI breaking the 50 level down and below Market base line.

Thanks to Smokey D I no longer have to wait for my SL or TP to be hit I just have to feel the rhythm of the trade sniff out opportunities and know when the trend is going cold and when it's heating up.

I'm +ve with all the great contributions from this thread my trading's improving by the day.
Attached Image (click to enlarge)
Click to Enlarge Name: 2012-01-04_1401.png Size: 132 KB
Let it turn and find your entry.
  • #2,524
  • Jan 4, 2012 10:08am Jan 4, 2012 10:08am
Quoting pylofm
X-Man...just a very quick question....do you only trade the eur/usd....with the s3 systems?

Cheers
Dave.
i trade only E/U on the 1H chart, the other pairs i trade on higher Tfs.
The higher the TF the better your indicators work and theres less stress and less fake outs
X-man the legendary conqueror of markets
  • #2,525
  • Jan 4, 2012 12:28pm Jan 4, 2012 12:28pm
Hey guys

I just would like to say that if there any of you out there that have any questions then feel free to post.
If your your questions have not been answered then please repost them and we will answer them.
If you dont want to post them here then you can always PM me, i will gladly answer your questions .
We are here to help each other in becoming better traders.

Regards
X-man

X-man the legendary conqueror of markets
  • #2,526
  • Jan 4, 2012 12:38pm Jan 4, 2012 12:38pm
X-man on POST 2277 I have a chart and questions regarding the SL on pullback candles. not sure how to repost it though. But I did want your insight.

Thanks
  • #2,527
  • Jan 4, 2012 1:00pm Jan 4, 2012 1:00pm
Quoting hale-mary
So During my backtesting (the f12 key is genius. amzaed i didnt know about this) there are fantastic entries on the pin ars/pullback bars that X-man says.

Here is my trouble although the bars look good and they pay out to an extent. The SLs on some of these bars exceeds 50 pips and cand get close 100 in the 60 to 100 range.

Last week a bunch of us entered on HUGE pullback that occured in NY session but the stop on that would have been above 100 pips once we entered at the close of the candle on the 1 hour chart.

The RR seems kind of bad if...
Ok it seem i have missed this post as i was in holiday mode hehe.
Well my maximum SL for a 1H chart is 50 pips. I will not risk more than that on the 1H chart.
There will be times when the swing high or the swing low will be more than 50 pips thats when i will limit my SL to 50.

Then the question of room to breathe arises. Personally I feel the 1H TF needs around 25-30 pips average to breathe before going in your direction.

Even tho my SL will be at 50 i can say with confidence that if a trader did his required homework then a 50 SL will rarely be hit. The only times it will hit is when there something abnormal happens like a news spike etc.
As you trade the 1H you will start to understand when you on the wrong side of the trade and will exit with minimum pips lost, this will need a manual exit at times when you see indication that PA moving the other way.

Hale mary let me know if this has answered your question.

X-man the legendary conqueror of markets
  • #2,528
  • Jan 4, 2012 1:05pm Jan 4, 2012 1:05pm
Guys who of you seen a thread started recently about making 1000 pips a day on the 1 minute chart LOL That was funny. I see they took that thread off.
Where do guys come up with that?
Imagine making 1000 pips a day. Traders would start taking a huge chunk off the $4 trillion market LOL
X-man the legendary conqueror of markets
  • #2,529
  • Jan 4, 2012 1:23pm Jan 4, 2012 1:23pm
Quoting X-Man
[color=Blue][size=3]Ok it seem i have missed this post as i was in holiday mode hehe.
Well my maximum SL for a 1H chart is 50 pips. I will not risk more than that on the 1H chart.
There will be times when the swing high or the swing low will be more than 50 pips thats when i will limit my SL to 50.

Then the question of room to breathe arises. Personally I feel the 1H TF needs around 25-30 pips average to breathe before going in your direction.

Even tho my SL will be at 50 i can say with confidence that if a trader did his required homework then...
it did. So let me see if I understand. Even though the pullback candle can be huge. You will set 50 pips max or if the candle is small at the high of the candle and then target 50 pips or whatever S/R level gets in the way. I found out that my trade management is partly to blame since I still spook easily like today. This will get fixed once I get better at recoginizing the proper setups (eagerly waiting on your posts/pdfs) and you getting on my case...lol
  • #2,530
  • Jan 4, 2012 1:36pm Jan 4, 2012 1:36pm
Quoting hale-mary
it did. So let me see if I understand. Even though the pullback candle can be huge. You will set 50 pips max or if the candle is small at the high of the candle and then target 50 pips or whatever S/R level gets in the way. I found out that my trade management is partly to blame since I still spook easily like today. This will get fixed once I get better at recoginizing the proper setups (eagerly waiting on your posts/pdfs) and you getting on my case...lol
Yip thats correct.
Yes i do notice that you get spooked easily which tells me that you have to control your emotions. Once you control that and stick to the system you will make pips.

You need the forex ninja to stand next to you as you trade and when you get itchy fingers he will take out his sword for you LOL.
He use to do that with micheal simon. I wonder where did those guys go to.
There are lots of traders that i made friends with since i started trading but now they gone. Maybe they got rich or didnt make it in the forex game.
X-man the legendary conqueror of markets
  • #2,531
  • Jan 4, 2012 1:55pm Jan 4, 2012 1:55pm
Quoting X-Man
[color=Blue][size=3]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...
Hello X-Man,
Please, Why did not you trade one hour before the candle with a red arrow, the break of the range of the Asian session (long trade) ? Personally I am committed and I lost!
Thanks
Best regards
  • #2,532
  • Jan 4, 2012 2:22pm Jan 4, 2012 2:22pm
Hi X-man i have a question. So i tried the F12 key to back test...
I just scrolled back as far as i could and i tried the F12.......
I'm just curious what method you use to backtest.
Thanks!
  • #2,533
  • Jan 4, 2012 3:44pm Jan 4, 2012 3:44pm
Quoting Vantage
Not that you watch it here but COT data shows the big boys are adding to their eur shorts. 1.20 coming, we'll see.
Looks like a useful data set to be aware of - I am trying the email subscription

http://www.dailymarkets.com/commitment-of-traders/
"To live with Passion, it takes Courage and Grace to survive"
  • #2,534
  • Jan 4, 2012 4:30pm Jan 4, 2012 4:30pm
I'm doing my homework as well and I've noticed just one thing overall:

REVERSAL BARS WORKS LIKE A CHARM


Best regards.
let's skype: @elchinoazul
  • #2,535
  • Jan 4, 2012 9:32pm Jan 4, 2012 9:32pm
Quoting Rodcisal
I'm doing my homework as well and I've noticed just one thing overall:

REVERSAL BARS WORKS LIKE A CHARM


Best regards.
Hi Rodcisal,
Yes, agree with you.
Candlesticks patterns work well as additional filter to look for trade entry in comdination with the Sybnergy APB for this particular S3 system.
Also the breakout of H4 inside bar also great for late comer entry.
Yerterday's EU was classical.
Cheers!
Have a good trading week!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #2,536
  • Jan 4, 2012 9:40pm Jan 4, 2012 9:40pm
Quoting emmanuel7788
Hi Rodcisal,
Yes, agree with you.
Candlesticks patterns work well as additional filter to look for trade entry in comdination with the Sybnergy APB for this particular S3 system.
Also the breakout of H4 inside bar also great for late comer entry.
Yerterday's EU was classical.
Cheers!
Have a good trading week!
Yes I saw it but i didn't trade it
I was too sleepy to make a good decision (5 in the morning in my timezone)
Anyway I'm always waiting for them.

What do you mean with breakout of H4 inside bar?
Would you post a pic showing that happening?
Thanks!!!!

Regards
let's skype: @elchinoazul
  • #2,537
  • Jan 4, 2012 10:56pm Jan 4, 2012 10:56pm
Quoting X-Man
Guys who of you seen a thread started recently about making 1000 pips a day on the 1 minute chart LOL That was funny. I see they took that thread off.
Where do guys come up with that?
Imagine making 1000 pips a day. Traders would start taking a huge chunk off the $4 trillion market LOL
Yes I saw that thread...! what a fun....
  • #2,538
  • Jan 5, 2012 1:23am Jan 5, 2012 1:23am
Quoting Rodcisal
Yes I saw it but i didn't trade it
I was too sleepy to make a good decision (5 in the morning in my timezone)
Anyway I'm always waiting for them.

What do you mean with breakout of H4 inside bar?
Would you post a pic showing that happening?
Thanks!!!!

Regards
Hi Rodcisal,
H4 inside bar is when a H4 bar has a hi-lo smaller that the last H4 bar. I use this a a entry method. To see this clearer, it would be better to switch to bar chart instead of candle chart.
See attached chart example of yesterday's EU trade I did.
Basically my entry was based on retracement of the previous day rally, Draw fibo from 3 Dec low to high and trade entry on the fib-r 23%. This happen with the H4 inside bar breakoout during the Asian session.
The next breakout during the Euro session was just a continuation trade which also fit nicely S3 method. I spotted this using S3 chart setup on H4 timeframe.
Sometimes we see several inside bars within the hi-lo of a bigger H4 bar, this to me means a consolidation of price compression and a breakout is imminent. It is a matter of time and traders must olearn to be patient for that to happen.
If the attached chart is too small to make of it, you can PM me and I can provide you need more information on inside bar setups.
Kind regards,
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD H4 breakout example 4 Dec 2012 .gif Size: 37 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #2,539
  • Jan 5, 2012 1:56am Jan 5, 2012 1:56am
reversal on eu / usd 1h chart?

need to watch closely for the coming nxt 2 hrs. direction is coming.
  • #2,540
  • Jan 5, 2012 2:08am Jan 5, 2012 2:08am
Quoting firsttimer
reversal on eu / usd 1h chart?

need to watch closely for the coming nxt 2 hrs. direction is coming.
Hi,

what reversal?
do you mean a retracement of yesterdays' high-low?
buy at 1.293 and taget 1.298
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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