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  • #2,701
  • Jan 10, 2012 11:21pm Jan 10, 2012 11:21pm
Quoting stinger007
Im waiting for this to come back down now and enter tomorow
Very nice summary of your trade
"To live with Passion, it takes Courage and Grace to survive"
  • #2,702
  • Jan 10, 2012 11:34pm Jan 10, 2012 11:34pm
[quote=hale-mary;5283382]what is a good way to avoid choppiness or figure it out in a way as to protect yourself. I got slaughtered today when entered seeing price go down to 2767.

Days like these when the markets are choppy really beat up my account and wipe my gains. And my gains are not that huge because I never seem to hit the 50 pip mark only 30.

Also, today seemed like a bad day to trade...well i found out after the fact.


What I have found recently very helpful, if you haven't already done so, is to have a good look at the James16 thread (under CommercialForum (beta). This is a huge thread (? the biggest on FF) but even the first 10 pages or so gives a good idea on how to assess PA using bar charts, S/R, Fib etc

Regards
  • #2,703
  • Jan 11, 2012 2:05am Jan 11, 2012 2:05am
hi.

practice 1 ( live trading)

Buy eurusd [email protected] sl:1.2725 tp:1.2796

Attached Image (click to enlarge)
Click to Enlarge Name: teste 1.gif Size: 37 KB


please tell me my mistakes. any comments?
  • #2,704
  • Jan 11, 2012 2:11am Jan 11, 2012 2:11am
As hard as I try to follow PA, and I feel like I have a good grasp on it, I feel like the EUR just moves on its own accord and shoots in any direction it wants at anytime lately. All PA signals have been almost useless to me, it just doesn't seem to be working.
  • #2,705
  • Jan 11, 2012 2:26am Jan 11, 2012 2:26am
Quoting amiralifx
hi.

practice 1 ( live trading)

Buy eurusd [email protected] sl:1.2725 tp:1.2796

Attachment

please tell me my mistakes. any comments?
I got almost exactly the same trade. It's looking good so far but if today is anything like yesterday, we need to keep a trailing SL and and a close eye on the trades.
  • #2,706
  • Jan 11, 2012 2:38am Jan 11, 2012 2:38am
Hello XMan,

I started following your thread few weeks ago and I really appreciate, that you are sharing your knowledge to other traders. I'd like to ask you 2 questions, which I havent found answer in your thread.

1. In the description of your system you wrote: "We will confirm the Price action using TDI." How you confirm with TDI? For long position, the green line has to be above the red line, or green has to cross/bounce of the red line, or green line has to be > 50 (or other number)?

2. Somewhere in the thread u mentioned, that there are some formations/patterns/situations in the market which are still repeating. Would u please give some hint on what should I focus during my backtesting for identification of this kind of formation? Or maybe would u mark this formation on the diagram?

Thank you

chamel
  • #2,707
  • Jan 11, 2012 2:41am Jan 11, 2012 2:41am
Quoting Forexsaurus
I got almost exactly the same trade. It's looking good so far but if today is anything like yesterday, we need to keep a trailing SL and and a close eye on the trades.
Put a line at 1.2750, put a normal candle chart 1hr on it and look at the profit taking, orders parked up around this area.

Look at the swing high/lows in this area, there a battle going
between bulls and bears.

If the 1 hr candle CLOSES above 1.2812, EU could correct.

Do you think there's enough direction at the moment to trade a direction ?

If not, sit on your hands and wait for a better play..
Memories caught in time but never forgotten
  • #2,708
  • Jan 11, 2012 2:53am Jan 11, 2012 2:53am
Quoting stinger007
Im waiting for this to come back down now and enter tomorow

Even though its close to the upper SHI channel border I would not go short at this point of time, because:

  1. TDI still far below 68
  2. EMA60 still bullish (I would like to see a bearish break of the EMA60)
  3. Blue band is wide and TDI not even close to the upper blue line
  4. 1.0200 acts as strong support

gary

  • #2,709
  • Edited 4:42am Jan 11, 2012 3:40am | Edited 4:42am
Quoting amiralifx
hi.

practice 1 ( live trading)

Buy eurusd [email protected] sl:1.2725 tp:1.2796

Attachment

please tell me my mistakes. any comments?

sl: move to 1.2769

result : +10 pips
  • #2,710
  • Jan 11, 2012 6:43am Jan 11, 2012 6:43am
Three of my recent H4 trades:
1. USDSDG, I went long based on the price above EMA(60) and having a TDI cross. But I did not recognize the trend of the H4 timeframe, which was bearish. result: SL hit, -72 pips.
2. EURUSD, went short. Result 56 pips.
3. GBPUSD, went short. Result 53 pips.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USDSGD_H4_strategy name_20120111133626.gif Size: 25 KB
Click to Enlarge Name: EURUSD_H4_strategy name_20120111133655.gif Size: 22 KB
Click to Enlarge Name: GBPUSD_H4_strategy name_20120111133504.gif Size: 25 KB
  • #2,711
  • Jan 11, 2012 7:09am Jan 11, 2012 7:09am
practice 2 (live trading)

buy eurusd [email protected] sl: 1.2676 tp: 1.2769

Attached Image (click to enlarge)
Click to Enlarge Name: test 2.gif Size: 37 KB


please tell me my mistakes. any comment?
  • #2,712
  • Jan 11, 2012 7:18am Jan 11, 2012 7:18am
Quoting amiralifx
practice 2 (live trading)

buy eurusd [email protected] sl: 1.2676 tp: 1.2769

Attachment

please tell me my mistakes. any comment?

Hi amiralifx

Do a quick self-check on X-Man's rules for H1 EURUSD.
Which of the rules did your trade comply with?

Trade carefully.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #2,713
  • Jan 11, 2012 7:18am Jan 11, 2012 7:18am
Quoting amiralifx
practice 2 (live trading)

buy eurusd [email protected] sl: 1.2676 tp: 1.2769

Attachment

please tell me my mistakes. any comment?
X-Man explains in his manual
Always remember that PA is King and TDI is just used as a
confirmation tool.
We will confirm the Price action using TDI.
I think I should wait at the crossing of tdi.
  • #2,714
  • Edited 8:23am Jan 11, 2012 8:11am | Edited 8:23am
Quoting emmanuel7788
Hi amiralifx

Do a quick self-check on X-Man's rules for H1 EURUSD.
Which of the rules did your trade comply with?

Trade carefully.
hi my buddy

please tell me why you think my entry setup is incorrect? please show me on chart.

why you think my entry setup out of x-man rules?
  • #2,715
  • Jan 11, 2012 9:41am Jan 11, 2012 9:41am
Quoting amiralifx
hi my buddy

please tell me why you think my entry setup is incorrect? please show me on chart.

why you think my entry setup out of x-man rules?
Hi Amiralifx, i am certainly no expert here but i will will give my opinion and tell you why i think it may have been a bad trade.
1. The trend is clearly down and you are looking to go long against the trend.
2. The candle it appears you entered on is not a valid pullback candle.
3. PA is below the 4 ma.
5. Price has not broken short term support for the current move to the downside.
6. Your TDI is under 50 and has yet to cross.
Hope others like X-Man himself, or phx62, Vantage, Lazy Lobster will comment and give you a more worth while opinion. Price has been all over in the NY session and i have had my butt kicked enough for one day, fortunately i caught a good move earlier. Hope this helps.
  • #2,716
  • Jan 11, 2012 9:44am Jan 11, 2012 9:44am
Hi erveryone,

this is my first post on this thread even so I'm following it right from the beginning. Thanks to X-Man for this great strategy.

@amiralifx: I'm just a beginner with this method and far away from trading it live but here are my reasons why I wouldn't take this trade. If you follow X-Man's description you probably took it because you saw a red candle which formed a lower wick and then closed above its open.
Beside this you should take into account, that the eu is in a downtrend right now, the tdi was far away from confirming your pullback candle by crossing and the price was below the ema which was still pointing down.
So I would say it was a very weak signal.

This would be my explaination but i guess there are people around here who are able to explain it in more detail.

Best regards
  • #2,717
  • Jan 11, 2012 10:02am Jan 11, 2012 10:02am
Quoting amiralifx
hi my buddy

please tell me why you think my entry setup is incorrect? please show me on chart.

why you think my entry setup out of x-man rules?

Hi Amiralfx

I think Brifx explain the setup rules very clearly.
But let me share with yiu my trade taken during London session.
This trade got stopped out becasue I trailed too close.
See attached chart.

Early this morning Erebus gave heads-up to this on whether TDI bounce or cross. We need to follow the market development continously. This will keep us in rythm with the market movement which some traders say move in waves. It can get choppy on some days but when we ride the bigger waves, we don't feel the 'choppy' condtions which usualy is felt in lower timeframe.

Good trading ahead.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD H1 11 Jan 12 LDN 11-1-2012 11-41-00 PM.png Size: 46 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #2,718
  • Jan 11, 2012 10:22am Jan 11, 2012 10:22am
Quoting amiralifx
practice 2 (live trading)

buy eurusd [email protected] sl: 1.2676 tp: 1.2769

Attachment

please tell me my mistakes. any comment?

Just a suggestion; write down the reasons you entered this trade. It will help you see what you were thinking when you took the trade; then, check and see if it conforms to the rules of the method you are using. With X-Man sss this won't take long.
Hej.
  • #2,719
  • Jan 11, 2012 10:39am Jan 11, 2012 10:39am
Can't help but mention the (true) story of a trader who taught his nephew to trade, I think he was younger than 10 when he started. Now a seasoned trader (early teens, perhaps a little younger) he doesn't want to go to school because of how well he is doing.

Whats his system, don't know much more than he follows trend strictly. If this isn't a wake up call I don't know what is.

So at the risk of repeating myself have a look at D TDI since end Oct. Think sells only.

Personally I would only consider counter trend scalps after a decent D reversal candle but thats another story.

Think 3 legs down, after that you can expect a bounce up.
If you are going counter trend perhaps risk only after good reversal candle on daily. That would equate to a definite higher low on 1hr. Why risk it though?
Think sell rallies in down trend i.e. expect good 1hr reversal candles back into trend.
Avoid weak counter trend candles in and around both London open and US open, they are there to fake you out.
Look for good reversal candles at extremes, large wicks, engulfing, dojis to get you back into trend.
Don't worry about days like yesterday if good reversal candles don't follow through, that will happen sometimes.
Your edge is trend + good 1hr set ups in trend.
  • #2,720
  • Jan 11, 2012 11:21am Jan 11, 2012 11:21am
Quoting Vantage
Can't help but mention the (true) story of a trader who taught his nephew to trade, I think he was younger than 10 when he started. Now a seasoned trader (early teens, perhaps a little younger) he doesn't want to go to school because of how well he is doing.

Whats his system, don't know much more than he follows trend strictly. If this isn't a wake up call I don't know what is.

So at the risk of repeating myself have a look at D TDI since end Oct. Think sells only.

Personally I would only consider counter trend scalps after a decent D reversal...
Excellent advice Vantage....All your posts are very informative and show that you are an experienced trader. Those who are struggling to become successful traders would do well to apply the information you are giving here. Success comes from doing as you describe in your posts.
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