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  • #3,821
  • Feb 6, 2012 4:10am Feb 6, 2012 4:10am
Quoting freedom48
EDIT: Thats what I was talking about...,, and what noww..now wait the volume

huha nostradamus trade, the down bias is harder as I could imagine for this morning, it simple fails to get in the uptrend and reverses back from each steps..I am out and will wait still for the uptrend change..were really on a critical time and level , also Xman trade rules in different TF's shows us
" Accepting losses is the most important single investment devise "
  • #3,822
  • Feb 6, 2012 4:11am Feb 6, 2012 4:11am
Quoting X-Man
Thank you sanquir for your input. Could you please tell me where did NickB discuss this method in detail as to why it would fail in the long run.

I will be here in 5 years time as well as in 10 years time to show everyone that this method will still be working.

As long as PA works then my method will work.
The day PA stops working which means the end of forex thats the time my system will stop working.
X-man, U have an amazing system which is based on PA so will alway work.... People are always trying to put fear in other minds!!!

I have done alot of back testing and have a lot of faith in my trades now!!! thanks for all you do x-man
  • #3,823
  • Feb 6, 2012 4:15am Feb 6, 2012 4:15am
Quoting cajun
I am still in my long trade -55 ATM, i like to give my trades room to breath. Seems like TDI starting to straighten out on the H1 at the 32, not sure but could be setting up for a reversal. If i do see a reversal i will open another long at a lower price.
I wish to your luck a chance is coming soon..
" Accepting losses is the most important single investment devise "
  • #3,824
  • Feb 6, 2012 4:17am Feb 6, 2012 4:17am
Furthermore, this is a mod of the synergy system which, dumb as I may be, I understand works in every TF.
So I can't understand the issue.
  • #3,825
  • Feb 6, 2012 4:17am Feb 6, 2012 4:17am
Quoting josh11
X-man, U have an amazing system which is based on PA so will alway work.... People are always trying to put fear in other minds!!!

I have done alot of back testing and have a lot of faith in my trades now!!! thanks for all you do x-man
I would love to be enlightened on the fact that why price action work only on 1 Hr candle
  • #3,826
  • Feb 6, 2012 4:21am Feb 6, 2012 4:21am
Quoting Sanquir
I would love to be enlightened on the fact that why price action work only on 1 Hr candle
Nobody claimed that... PA works on every TF, but on the lower TFs there is much more noise - that is the reason why most successful traders are trading higher TFs.

Btw, this method also works on the H4 and D1 TF, just look a bit around in this thread and the thread "Trading Made Simple For Day Charts"
  • #3,827
  • Feb 6, 2012 4:25am Feb 6, 2012 4:25am
Quoting Sanquir
Lets start with the fact that we have to look at 1 Hr candle...what if this pattern is forming in 30 min candle and not working.would u still trade it at 1 Hr candles? is PA invalid at 30 min

NICKB--- this is a good place to start...http://forums.babypips.com/free-fore...ng-method.html
Well i do not recommend any of my traders to trade any TF below the 1H TF. As every trader knows for a fact that there is tooo much noise on the lower TF.
Another reason will be that indicators are less reliable if you to the lower TF and indicators become more reliable if you go on higher TFs.
I like trading 1H and higher.

I use to only trade the 4H TF before using the very exact methodology. I use to make lots of pips as well.
But i am a full time trader and we all know how boring things can get if we have to wait for every 4H candle.

Thats when i started trading the 1H TF and also trade the 4H TF when i see opportunities.
So its not restricted to 1 TF.

The reason why this thread only concentrates on 1 pair and 1TF is because when a noob starts trading he should master 1 pair rather then going through lost of pairs and making rash decisions.
I can use this to trade which ever pair i want on the 1H , 4H and daily. Its not that difficult at all.

Thanks for the link buddy , i will give it a read. I love expanding my knowledge when ever i can get a chance.
1 should always be hungry for knowledge and success
X-man the legendary conqueror of markets
  • #3,828
  • Feb 6, 2012 4:26am Feb 6, 2012 4:26am
Quoting Strategy_xy
Nobody claimed that... PA works on every TF, but on the lower TFs there is much more noise - that is the reason why most successful traders are trading higher TFs.

Btw, this method also works on the H4 and D1 TF, just look a bit around in this thread and the thread "Trading Made Simple For Day Charts"
So you are saying if this method does not work on 30 min candle you would still trade it on 1 Hr candle?
  • #3,829
  • Feb 6, 2012 4:29am Feb 6, 2012 4:29am
Quoting Sanquir
So you are saying if this method does not work on 30 min candle you would still trade it on 1 Hr candle?
I did not say it does not work on the 30 min TF. I am sure, it would work, but there are more whipsaw movements, so I do not consider trading lower than the 1 hr TF...
  • #3,830
  • Feb 6, 2012 4:33am Feb 6, 2012 4:33am
Price approaching previous support.. Any thoughts?
  • #3,831
  • Feb 6, 2012 4:41am Feb 6, 2012 4:41am
My long is starting to look much better, hopefully it will continue, not ready to jump into another one yet, will wait and see.
X-MAN if you did not close your short you must be in DD ATM, could continue your way or could go my way, could be going up after the pullback candle.
  • #3,832
  • Feb 6, 2012 4:49am Feb 6, 2012 4:49am
Quoting cajun
My long is starting to look much better, hopefully it will continue, not ready to jump into another one yet, will wait and see.
X-MAN if you did not close your short you must be in DD ATM, could continue your way or could go my way, could be going up after the pullback candle.
Nope i did not close my trade yet.

Whats DD? lol
X-man the legendary conqueror of markets
  • #3,833
  • Feb 6, 2012 4:59am Feb 6, 2012 4:59am
Quoting X-Man
Nope i did not close my trade yet.

Whats DD? lol
lol, i like your style. This trade is driving me nuts, patience Grasshopper patience.
  • #3,834
  • Feb 6, 2012 5:04am Feb 6, 2012 5:04am
Hi Xman, Phx62, Emmanuel
EU went long +3pips, then short BE on LO open. Not much PA so got out and am waiting for a breach of 1.3010-20, probably NY open +2-3 hrs. I am in a longer timeframe short.

do you use any time stops if a trade(H1) does not go anywhere in a certain amount of time. ? your parameters.

Taking a short below long wick blue (x man) and open of 2nd red candle by Phx62 (setup and signal candles) should pan out, but how long do you wait?

News on forexlive( not PA guys)"
Reports have sell stops through 1.3050. Buy orders then clustered 1.3020/30 before more sell stops through 1.3020 and 1.3000."

Sanquir: dealing in smaller time frame is a bigger hassle than larger time frame. Just like one dollar bills vs 20 vs100 dollars. They work in all timeframe. We get to choose the hassle we are willing to put up with to make a buck.

Thanks,
fullpip
  • #3,835
  • Feb 6, 2012 5:11am Feb 6, 2012 5:11am
Quoting Fullpip

Sanquir: dealing in smaller time frame is a bigger hassle than larger time frame. Just like one dollar bills vs 20 vs100 dollars. They work in all timeframe. We get to choose the hassle we are willing to put up with to make a buck.

Thanks,
fullpip
Very Succinctly put my friend. To each his own. Critisizing others is just so much waste of time and breathe.

No one is forcing anyone to follow X-Man's system.

DD
  • #3,836
  • Feb 6, 2012 5:23am Feb 6, 2012 5:23am
Quoting Fullpip
Hi Xman, Phx62, Emmanuel
EU went long +3pips, then short BE on LO open. Not much PA so got out and am waiting for a breach of 1.3010-20, probably NY open +2-3 hrs. I am in a longer timeframe short.

do you use any time stops if a trade(H1) does not go anywhere in a certain amount of time. ? your parameters.

Taking a short below long wick blue (x man) and open of 2nd red candle by Phx62 (setup and signal candles) should pan out, but how long do you wait?

News on forexlive( not PA guys)"
Reports have sell stops through 1.3050. Buy...
have u tested these systems at smaller TFs....I m not sure if u would as long as they work on 1 Hr TF.....in the short run

also the thing about increase of noise at smaller TFs is one of the biggest Myths prevalent in Forex markets...Forex is not a scientific instrument that u need a better signal to noise ratio to draw conclusions. every single tick in forex has a logic behind it......Actually the systems which work at a TF as small as 5 seconds are much less complicated.....at those TFs u can easily exploit the inherent patterns created by ultra high frequency traders

For more info i recommend u to read the interview of william eckhardt by jack schwagger
  • #3,837
  • Feb 6, 2012 5:49am Feb 6, 2012 5:49am
taken from the movie The Matrix
"You take the blue pill – the story ends, you wake up in your bed and believe whatever you want to believe. You take the red pill – you stay in Wonderland and I show you how deep the rabbit-hole goes." -Morpheus
Attached Image
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #3,838
  • Feb 6, 2012 5:53am Feb 6, 2012 5:53am
Quoting emmanuel7788
taken from the movie The Matrix
"You take the blue pill – the story ends, you wake up in your bed and believe whatever you want to believe. You take the red pill – you stay in Wonderland and I show you how deep the rabbit-hole goes." -Morpheus

good stufff.....
  • #3,839
  • Feb 6, 2012 6:16am Feb 6, 2012 6:16am
The synergy APB have just bounced back from the barry support and changed color from red to blue, plus TDI crossed, is time for long now?
Accept as it is being!
  • #3,840
  • Edited 9:24am Feb 6, 2012 6:27am | Edited 9:24am
Quoting Sanquir
There are a few problems with this system which will prevent it from being profitable in the long run...This method has been discussed in detail by another trader NickB.

William Eckhardt --- one of the best traders of all time( mentor of the turtles) provides an explanation of why these systems will never work in the long run.

Problem---- There is no reason to use 1 Hour candle...if this pattern is providing any insights into the psychology of the markets there must be no restrictions on the time frame of the candles.this pattern will disappear...
Wow.......Thats a powerful statement.....

Sanquir,

You say that William Eckhardt states that systems like this would never work. Is that the same William Eckhardt who had a bet with Ron Dennis that the turtle experiment would never work.......?

you mention that this is a perfect example of a black box system,
Sorry, I don't see that ...
the successful coded black box algorithmic systems are continually being tested and adjusted to fit with the current market enviroment.

This is a discretionary System that is advised by the use of some indicators..
You could absolutely trade this system on any time frame 1min to 1 month,
if you have good experiance with that time frame, good experiance with PA, discipline and excellent money management skills..

You say you tested this over a 5 year period, was that with an EA ? or did you do it manually ?.
If you tested your data with an EA or an automated system you would have been given different results because this is a discretionary system, This is why most EA's fail. its very difficult to automate human emotion..


It is common knolwedge that most traders fail because of over trading, not cherry picking the better trades.

If you tested this manually, the results would also be different, no one trader would have the same results...

The success of a trader doesnt come by just giving him/her a strategy that is positive, it comes with all the other "nuts and bolts" needed to elavate that trader to position of being constantly sussesful.

The Turtle experiment you happen to mention is a great analagy of what we are discussing. the traders were given strict rules to follow, yet the results
were so different between the traders...

This can be a very successful ,long term stratergy in the hands of a good disciplined trader.......
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