X-Man's Super Simple System

not a bad trade at all having only 10 pips SL, had my target at 1.2745, went only to 46... tried to get out manually but had a big slippage and filled at 66. still nice trade. still holding it?

hello again,

i am new to this method, but it appears to be a sound methodology because its based on PA.

however, i am a little confused if i am understanding the method the right way. Below is the chart with 3 arrows.

arrow 1: short signal at the end of the candle but TDI unlikely to cross to the downside even on the next candle - hence would pass on this candle

arrow 2: long signal at the end of the candle, TDI seems ok, valid signal, resulting in small loss.

arrow 3: short signal at the end of the candle, seems like valid signal (if we are happy to trade during non-farm).

Could you guys please confirm that i am getting it right?

All the best!

Tonny

Your picture is a bit wrong:

thanks for reply Badass. the first time TDI crossed there wasnt a signal candle (candle making lower low but having higher close than open), so it wouldnt be a valid buy signal, would it? did you get in long position at the end of the candle with first arrow?

Hi, I use the Sonic SHI Channel MTF, the timeframe is set to 1440 (it equals to D), so one timeframe higher than the H4. I did change the color but that is all.

EURUSD did give long (counter-trend) opportunity, at the close of the bearish candle of the London open there was a valid TDI cross up which yielded an excess of 25 pips.

One of the training wheels I've employed is the TMS OSC Cross indicator, it removes the need for guess work until you finally begin to anticipate and identify rejection/pullback candles and confirm with TDI crosses.

Check the screenshot below you may need to enlarge it to see the TDI Cross signals as arrows.

Hope this helps.

HI X-MAN


please help me and tell me my mistakes.


1 novanber 2011

hi x-man

please check my entry estup and exit signals and tell me my mistakes.


2 novomber 2011

Hi Tonny47, looking at your chart the first thing i see is PA ranging with no particular direction. Not every pullback bar or TDI cross is a entry signal. Personally i would have waited until price broke and closed below short term resistance in confluence with a TDI cross before making an entry. Perhaps a bit conservative but in a flat ranging market better safe than sorry IMHO. Hope this helps!

3 novomber 2011

hi

please check my entry estup and exit signals and tell me my mistakes.

Hey guys

I think yesterday was a very good trading day. You could say that was very very easy and could trade it with no thinking involved.
Look at the first arrow and notice as you read my thread you will notice that i have mentioned that i mostly ignore that candle as it could be a fakey. the second reason is that it is so small that it didnt even break out of the asian session range so it would be crazy to trade such a candle.
The second red arrow gave me a bullish candle. since E/U falling i wouldnt trade that, if i did i wouldve closed at breakeven when the next candle formed.
The first yellow arrow are one of my signal candles to go short. i went short after the signal there but closed on the same candle at break even as that candle didnt give movement. Usually i would hold the trade but my second vertical line was coming into play thats why i closed the trade.
On the second vertical line there was another 1 of my signals to go short (second yellow arrow) I went short at the open of the next candle and an easy 50 pips in 1 candle so it was a good day and im a happy camper

Have a look at my recent post regarding that same days trades. I have posted explanations as to why i traded certain candles

Hey there buddy
Could you please add more detail as to what i am looking at.
I can see the trades you have taken there

The first arrow i would go short but that didnt go in my direction as intented so would close it at -15 pips.
the second arrow i would ignore as that is not such strong signal.
The third arrow you can see that it couldnt break the previous high so i would go short or you can choose to sit that 1 out if you want

Here as you can see my reasons to ignoring the first candle after the first vertical line.
On the first arrow i would go long as you can see a strong bullish candle so i would enter at the opening of the second blue candle. As you can see that it went right up to the NY opening. At the second arrow i would go short after that candle forms as you can see it went down for about 35 pips and came back up. there you would break even if you closed at the end of that candle or you couldve scored 20 to 30 pips since you already made over 50 pips in the first session

Admiralifx please let me know if my explanations helped you and if the charts i posted made your understanding better.

Hi, X-Man. I don't understand why do you say that the first yesterday yellow arrow corresponds to a signal to go short? TDI show the green line above the red line.

Then your second trade was immediately before the NFP? I find it quite risky.

Thanks.

Again the same. Why the first arrow indicates you go short? TDI does not qualify to go short.

Thanks. I just want to clarify this to see if I am using wrong your strategy.

Idem. At the second arrow TDI RSI has not crossed the red line down, why would go short?

I am not X-Man, but I thought this might help you. I have uploaded a chart of the 15M, but I will get to that in a moment. The bar previous to NFP was perhaps a bit of a weak pullback bar on the 1HR chart, and it was the beginning of the USA session, but there are extenuating circumstances in the market. Partucularly in the Fundemtals. Europe's economy has gone bad and the currency is suffering. This is something everybody knows. There hasn't been any events that has been able to stem the flow, so FUNDAMENTALLY, we should be looking for shorts on the Euro, X-man has pointed this out in previous posts and has been well spelled out by I believe the gentleman's name is Vonage (very knowledgable in my opinion)So nobody should be looking to go long without watching the trade very carefully. So almost any reason to go short is a good one. I also hope that you might remember reading that PA is what drives this system, Not the TDI, TDI only confirms. In fact the beauty of this system is that often you get in BEFORE the TDI which is often late like all indicators are. The TDI is like training wheels. You will go much better when you learn to live without it... Now, as for the chart I have posted. Many traders like to look at the shorter timeframes right before they hop in a trade to confirm that there isn't any conflicting data there. In this case quite the oposite was true. First, the blue line is demonstrating the failed swing up ( Having trouble with uploading charts but if you look at this timframe it should be obvious: the first hump previous to the picture is higher and you will see the second one didn't go as high and took a dive afterward just before NFP). Once the candles breached and closed on the other side of the red line along with body of APB candle, you had a very good signal to take a short that traders should have been looking for, even with NFP coming up. If you watch the news you will have noticed that christmas numbers really improved the USA economy and hence private sector added much to the workforce, so the NFP was already going to lend obvious strength to the USA. Right before NFP you could have put your stop loss 5 pips or so above your entry candle and watched the announcement unfold, getting out if you were wrong about everything. What I am trying to show is that there are many variables to consider when trading besides what you see on the chart and some stuff people leave off the chart when they post. Many of these things are not discussed on the thread and must be picked up elsewhere, not only on babypips, but other threads here on FF as well. Look at other threads, especially the first couple pages and you will find a lot of gold there from just reading the rules of other systems and how they are traded (stick to learning just one like this one, but you get good info by reading the other posts). Many folks load up the first post with supplmental info that croses to other systems. For instance, britpip7 has a Price action quick guide on his first post in the thread called "trading made simple for daily charts." That information is useful here. Also, horizontal lines and Trendlines are things that we need to put on charts, but many folks (myelf included) often times internalize that kind of info as we already see it without having to draw it, but once again, this is not stuff that is shown on the thread, but is used when trading. I am sure that X-man uses lines for more than showing the times he trades, but might not have it on the charts he uploads. Hope this helps man. Have a good weekend.