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  • #2,881
  • Jan 17, 2012 10:04am Jan 17, 2012 10:04am
Just sold GU on bounce from 60 SMA.
  • #2,882
  • Jan 17, 2012 10:30am Jan 17, 2012 10:30am
Quoting Brifx
Hello X-Man, want to again thank you for all the time and help you are putting in on your thread. Quick question re the 4 HR. How far after a trade signal on the 4 HR would you still consider it still a valid trade. Given the 4 HR TF, sometimes we are not at the monitor as often, like when trading the 1 HR. I know alot depends on what PA is doing, potential news, etc. I guess i am trying to fine tune when to chase the bus and when to let it go and wait for the next. Thanks again!
Well i would consider the opening of the second candle a good entry , anything after that i would consider late entry. The reason for this is that if i enter late then my SL will be bigger. So i wont enter a trade if i miss the opening of the second candle.
I recommend that you should view your charts every 4 hours to look for set ups. Thats what i do and theres some trades that i just miss so i will look for another trade.
X-man the legendary conqueror of markets
  • #2,883
  • Jan 17, 2012 10:32am Jan 17, 2012 10:32am
Quoting X-Man
Well i would consider the opening of the second candle a good entry , anything after that i would consider late entry. The reason for this is that if i enter late then my SL will be bigger. So i wont enter a trade if i miss the opening of the second candle.
I recommend that you should view your charts every 4 hours to look for set ups. Thats what i do and theres some trades that i just miss so i will look for another trade.
Understood, thank you for your reply. Cheers!
  • #2,884
  • Jan 17, 2012 1:06pm Jan 17, 2012 1:06pm
Quoting emmanuel7788
Hi Jinryll,

For the MT4 platform, you can do this when you set your TP. If you want to do partial exit, then you set two different TP price with the appropriate lot size.
Goto the ibfx usa or autralia website, there are many tutorials on how to do many things.
I recommend you go through all the online tutorials.

Have fun, enjoy the learning.

Thank u, Sir. I didn't actually know it's possible with MT4. I will try it next time coz there's no more open trade for me now

Not bad for a newbie trader
January - 8 winning trades (400 pips); 3 breakevens; 0 losses (so far )

Great system. Kudos to everyone. Keep the questions coming coz we learn from them
  • #2,885
  • Jan 17, 2012 3:23pm Jan 17, 2012 3:23pm
I entered trade #1 as a 20 pip scalp trade during the Asian session on a break of yesterdays high (only because there was no volume the day before due to the US holiday). When it move strongly up, I moved my stop to 100 and moved my SL to breakeven. I then trailed behind each previous candle by 5 pips. Ended up hitting the 100 pip target.
Trade 2 was taken following the break of the previous candle....new candle tested high and then turned red with a cross of the TDI.
A good day overall.
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  • #2,886
  • Jan 17, 2012 3:43pm Jan 17, 2012 3:43pm
Quoting Phx62
I entered trade #1 as a 20 pip scalp trade during the Asian session on a break of yesterdays high (only because there was no volume the day before due to the US holiday). When it move strongly up, I moved my stop to 100 and moved my SL to breakeven. I then trailed behind each previous candle by 5 pips. Ended up hitting the 100 pip target.
Trade 2 was taken following the break of the previous candle....new candle tested high and then turned red with a cross of the TDI.
A good day overall.
The Asian long trade was an A+ set up and price met resistance during the London session giving room for the TDI cross nice nailing, may I ask which indy you use to mark your trading sessions? I like the way it doesn't douse your charts with so much color.
Let it turn and find your entry.
  • #2,887
  • Jan 17, 2012 3:58pm Jan 17, 2012 3:58pm
Quoting Jinryll
Thank u, Sir. I didn't actually know it's possible with MT4. I will try it next time coz there's no more open trade for me now

Not bad for a newbie trader
January - 8 winning trades (400 pips); 3 breakevens; 0 losses (so far )

Great system. Kudos to everyone. Keep the questions coming coz we learn from them
Probably lots of things you don't know; have you thought to read the User Guide between trades?

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It takes a lot for me to IGNORE you, but you can try.
  • #2,888
  • Jan 18, 2012 12:39am Jan 18, 2012 12:39am
Good Morning Guys

I just want to spend some time to discuss yesterdays trade.
As you can see on my chart theres 2 candles in a green circle, thats one of my signals to go short.
What makes me say its a signal?
The first candle in the circle shows me a strong bullish that shows me the candle tried to reach a certain price but could not close there so it retraced leaving a long wick.
The second candle in the circle shows me that the candle could not break the high of the previous candle and it pulled back abit (the close formed below the open of the candle) So that tells me go short at the open of the next candle.
As you can see in the second picture i uploaded that theres the 2 candles and then after that theres a bearish run.
When you back test you will notice this signal happening over and over.

Then you will ask what happen yesterday?
well the candle that formed after the signal i call it an abnormal candle, this is usually where the candle go to retest the price before going down. Most of the time it doesnt hit SL coz it dont form such a high but that happens.
Other times PA will drop immediately with no abnormal candle as you can see in my second picture.
So whenever i see that signal i will take and more than 70% of the time its a winner.
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X-man the legendary conqueror of markets
  • #2,889
  • Jan 18, 2012 12:55am Jan 18, 2012 12:55am
To go long i would look at these signals.
Look at the first candle in the first 2 pictures that i uploaded. Look at the tail and look at the open and the close of a candle. Theres a long tail with the open and close close to the top of the candle. When i see these i would go long at the open of the next candle.

But now be careful and look at the first candle in the my third picture .This candle looks like the candle in the first picture but notice the open and close are different. The open is towards the lower of the tail. When i see this candle you can leave it alone or you can go short
Attached Images
X-man the legendary conqueror of markets
  • #2,890
  • Jan 18, 2012 12:57am Jan 18, 2012 12:57am
Quoting X-Man
Good Morning Guys

I just want to spend some time to discuss yesterdays trade.
As you can see on my chart theres 2 candles in a green circle, thats one of my signals to go short.
What makes me say its a signal?
The first candle in the circle shows me a strong bullish that shows me the candle tried to reach a certain price but could not close there so it retraced leaving a long wick.
[size=3][color=blue]The...

well, another way I looked at it is that price was at psych level 1.2800. It was a test and re-test of 1.2800 and when no candle closed above 1.2800, it is T&R failure. Also a nice double top pattern seen on lower TF like M15.
I do not trade M15 TF but I can see more details using this M15 TF.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #2,891
  • Jan 18, 2012 1:08am Jan 18, 2012 1:08am
If theres an uptrend then i would go short when i see these candles.
I am only looking at the first candle in these pictures and will enter on the open of the next candle.
In the first picture theres a blue candle and the second picture theres a red candle
Attached Images
X-man the legendary conqueror of markets
  • #2,892
  • Jan 18, 2012 1:14am Jan 18, 2012 1:14am
Quoting X-Man
If theres an uptrend then i would go short when i see these candles.
I am only looking at the first candle in these pictures and will enter on the open of the next candle.
In the first picture theres a blue candle and the second picture theres a red candle



euro/ usd flip and turned up 15mins ago from 1h chart downtrend.
cause me to go from positive pips to negative.

any views? cut loss?
  • #2,893
  • Jan 18, 2012 1:20am Jan 18, 2012 1:20am
Guys those candles happen over and over on E/U 1H.
But before even thinking of trading those signals i beg you guys to back test and look for those signals. Then when you fell confident enough thats only when you trade these signals.

There are a few more signals i trade but i posted these easy ones first so youll get the idea.
The more you guys back test the more clear the signals will become.

I wont be trading today as i have a lot of errands to take care of today.

Any of you guys play squash?
X-man the legendary conqueror of markets
  • #2,894
  • Jan 18, 2012 1:22am Jan 18, 2012 1:22am
what is the best time to search signals ... some time signals is something between 3 & 8 EST ....
  • #2,895
  • Jan 18, 2012 1:29am Jan 18, 2012 1:29am
Quoting HITMAN
what is the best time to search signals ... some time signals is something between 3 & 8 EST ....
I have mentioned before that you trade the London session and the first few hours of the NY session and thats when you look for those signals. If i see such a signal in the asian session i wont take it. theres no momentum.
LOL im sleeping during the asian session
My time zone dont allow me to trade sessions that has rubbish.
X-man the legendary conqueror of markets
  • #2,896
  • Jan 18, 2012 1:44am Jan 18, 2012 1:44am
practice 13

sell eurusd


stop out -30 pips

Attached Image (click to enlarge)
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any comment?
  • #2,897
  • Jan 18, 2012 1:50am Jan 18, 2012 1:50am
Quoting amiralifx
practice 13

sell eurusd


stop out -30 pips

Attachment

any comment?
method will tell us to short.
i did it like you and went from positive to negative.

place SL to protect yourself.
  • #2,898
  • Jan 18, 2012 1:51am Jan 18, 2012 1:51am
Quoting amiralifx
practice 13

sell eurusd


stop out -30 pips

Attachment

any comment?
You trading at the wrong time thats why that happened.
You didnt wait for the first vertical line.
Remember in my posts i mentioned that you have to wait for the candle after the first vertical line to form first
X-man the legendary conqueror of markets
  • #2,899
  • Jan 18, 2012 1:55am Jan 18, 2012 1:55am
Quoting firsttimer
method will tell us to short.
i did it like you and went from positive to negative.

place SL to protect yourself.
The method also says that the first candle is a fakey most of the time.
X-man the legendary conqueror of markets
  • #2,900
  • Jan 18, 2012 2:06am Jan 18, 2012 2:06am
Quoting X-Man
The method also says that the first candle is a fakey most of the time.
thx for that. will keep that in mind at the nxt 1h trade.

have not been doing well at 1h trades.

4h trades are more consistent for me.
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