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  • #3,861
  • Feb 6, 2012 10:54am Feb 6, 2012 10:54am
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  • #3,862
  • Feb 6, 2012 10:59am Feb 6, 2012 10:59am
Quoting Sanquir
lets go straight to the point...I m trying to help u guys in making u aware of the possible fallacies of Xmans approach....one should be always open to constructive criticism to ones methods...

you are still failing to address the core problem...but i guess u do not care to find about the real reason why something is working as long as it is working...i have made that mistake countless times....

if u just want to know....this method will not work in a choppy market(today is a nice hint)...i dont want to indulge in any further arguments if u...
Do you really know a system that works in a choppy market??
I know traders who can tell a choppy from a trending.
  • #3,863
  • Feb 6, 2012 11:02am Feb 6, 2012 11:02am
Quoting Dr_Zulu
Do you really know a system that works in a choppy market??
I know traders who can tell a choppy from a trending.
lets keep that for another thread.....
  • #3,864
  • Feb 6, 2012 11:10am Feb 6, 2012 11:10am
Quoting Sanquir
lets keep that for another thread.....
Sanquir, go and start another thread and show the world how it is?
  • #3,865
  • Feb 6, 2012 11:11am Feb 6, 2012 11:11am
Quoting X-Man
I would like to also say that to be safe and conservative rather wait and see how the market plays out on mondays at the LO.

This will give to time to start feeling PA rather than just jumping into a trade after the weekend.
This use to also happen to me and i realized that most of my losses came from monday mornings when i just jumped into a trade.

As we can see now PA has created a 3 wick support. Just have to wait to see if that breaks
Thanks for the advise X-man, had a small loss this morning so will know for next monday....

Done for the day on +50pips
  • #3,866
  • Feb 6, 2012 11:13am Feb 6, 2012 11:13am
Quoting Sanquir
lets go straight to the point...I m trying to help u guys in making u aware of the possible fallacies of Xmans approach....one should be always open to constructive criticism to ones methods...

you are still failing to address the core problem...but i guess u do not care to find about the real reason why something is working as long as it is working...i have made that mistake countless times....

if u just want to know....this method will not work in a choppy market(today is a nice hint)...i dont want to indulge in any further arguments if u r...
Hello Sanquir,

I agree with you that it is harder to trade X-Mans System in choppy markets like today, but it is not impossible.
I Entered on the open of the 9:00 GMT Candle (ater the bounce off at EMA200) setting SL to Swing High (30Pips) and TP to 30 Pips as well. TP was hit within the same candle. As my position size as is a function of SL, i got the same amount of money as always.

Anyway, I got your statement that says: "A System is NOT profitable if it is not working on every timeframe." You try to convince all of us by "quoting" some other trader.
I guess that is not a profound argument. Do you've got any other references, rather than that guy heard that another guy once said that...?

Also I did not recognize that you answered wether you used an EA for your backtest. I backtest manually and the results are fine as I just started to use the system.
  • #3,867
  • Feb 6, 2012 11:21am Feb 6, 2012 11:21am
Speaking of back testing....

Does anyone have an indicator that just inserts a single verticle line for each session?

Currently I am trying to backtest but the isessions indi inserts a box, thus giving away the direction of the market when steping through each bar by pressing F12.

Inserting the lines in manually would not be practical.

Thanks.
  • #3,868
  • Feb 6, 2012 11:24am Feb 6, 2012 11:24am
Quoting xeagon
Hello Sanquir,

I agree with you that it is harder to trade X-Mans System in choppy markets like today, but it is not impossible.
I Entered on the open of the 9:00 GMT Candle (ater the bounce off at EMA200) setting SL to Swing High (30Pips) and TP to 30 Pips as well. TP was hit within the same candle. As my position size as is a function of SL, i got the same amount of money as always.

Anyway, I got your statement that says: "A System is NOT profitable if it is not working on every timeframe." You try to convince all of us by "quoting"...
may be should read the section on eckhardt in market wizards by jack schwagger....i dont want to copy paste his entire argument here

also just think about it rationally....there are two kinds of system..one which exploits the psychology behind the PA and others which exploit loopholes/arbitrage/etc

this system is trying to understand the psychology behind PA. A robust system in this domain is TF independent...

i used an EA written in the software that our team has developed....

also i am curious how long did u backtest this system for....and after how many trades were u convinced that this system works...
  • #3,869
  • Feb 6, 2012 11:25am Feb 6, 2012 11:25am
Quoting jasonnevis
Speaking of back testing....

Does anyone have an indicator that just inserts a single verticle line for each session?

Currently I am trying to backtest but the isessions indi inserts a box, thus giving away the direction of the market when steping through each bar by pressing F12.

Inserting the lines in manually would not be practical.

Thanks.
in JFOREX they have something for this
  • #3,870
  • Feb 6, 2012 11:27am Feb 6, 2012 11:27am
Quoting josh11
Thanks for the advise X-man, had a small loss this morning so will know for next monday....

Done for the day on +50pips
Nice work cajun and josh.
I totally missed that upward movement.
Will get the market tomorrow.

LOL that sanquir is still lurking about. What can i say , its just so hard to leave such a thread thats so awesome.
I recommend he trade this system and I'll sponsor the wheelbarrow


X-man the legendary conqueror of markets
  • #3,871
  • Feb 6, 2012 11:32am Feb 6, 2012 11:32am
Quoting jasonnevis
Speaking of back testing....

Does anyone have an indicator that just inserts a single verticle line for each session?

Currently I am trying to backtest but the isessions indi inserts a box, thus giving away the direction of the market when steping through each bar by pressing F12.

Inserting the lines in manually would not be practical.

Thanks.
I use this one , set the hours depending to your brokers time
my broker is oanda
Attached File(s)
File Type: ex4 Xi-VLines20v1.02.ex4   13 KB | 500 downloads
  • #3,872
  • Feb 6, 2012 11:42am Feb 6, 2012 11:42am
Quoting X-Man
Did any of you read Dcginc's story part 1 to 4 on how he became a successful trader?
It makes you think that we all have to go through that journey before we can be profitable.
http://www..protradenetwork.com

And theres a cool video called building a belief in your trading system through back testing


I've been reading also viewing dcginc blog...some stuff are cool.
I hope the blog will help me in this trading business. Thanks X-Man for the link to the dcginc blog site...

And to Lazylobster, I've receive the chart that u email me...thanks a lot
  • #3,873
  • Feb 6, 2012 11:46am Feb 6, 2012 11:46am
Quoting MJurban
I use this one , set the hours depending to your brokers time
my broker is oanda
Thank you MJurban, that is exactly what I was looking for.

Appreciate you sharing!
  • #3,874
  • Feb 6, 2012 11:46am Feb 6, 2012 11:46am
Quoting hale-mary
These type of days are the kind of days I dread as I suffer mega losses from these and it seems like i have no clue what I am doing.

3 trades took places today with i still running (although I dont have too much faith in it)

SL on all trades is 50 pips.

trade 1- I entered on the break of the support level at 1.3054 and had a target for 1.3000. Entry candle is shown by the red arrow. I held on at the next red candle. When the first blue candle formed I was watching it as price did not seem to want to go down so I exited the trade when it came...
Hale Mary
Trade 1 i agree with you but trade 2 and 3 are trades that i dont agree.

look at trade 2, see thet first blue candle. Look at the long wicks on both ends of the candle. Even if you did enter on the second candle but then i would say you should have exited as you as the candle closed because a long upper wick has been made and the body was smaller than the wick.

Trade 3, PA didnt break support. when a S&R breaks you will see a clean break like a knife through butter thats when you can see the momentum, here PA stalled, got stuck there and bounced off
X-man the legendary conqueror of markets
  • #3,875
  • Feb 6, 2012 11:57am Feb 6, 2012 11:57am
Quoting X-Man
Hale Mary
Trade 1 i agree with you but trade 2 and 3 are trades that i dont agree.

look at trade 2, see thet first blue candle. Look at the long wicks on both ends of the candle. Even if you did enter on the second candle but then i would say you should have exited as you as the candle closed because a long upper wick has been made and the body was smaller than the wick.

[size=3][color=blue]Trade 3, PA didnt break support. when a S&R breaks...
Hi X-Man, do you prefer to wait until the last 10 minutes of a 1 hour bar before you would enter, or would you enter anytime the bar is open?

If I remember correctly, I think Big-E would usually wait till the end of a candle formation with TMS. Do you recommended this?

Thanks for the great system and thread!
  • #3,876
  • Feb 6, 2012 12:06pm Feb 6, 2012 12:06pm
Quoting X-Man
[color=Blue][size=3]Hale Mary
Trade 1 i agree with you but trade 2 and 3 are trades that i dont agree.

look at trade 2, see thet first blue candle. Look at the long wicks on both ends of the candle. Even if you did enter on the second candle but then i would say you should have exited as you as the candle closed because a long upper wick has been made and the body was smaller than the wick.

Trade 3, PA didnt break support. when a S&R breaks you will see a clean break like a knife through butter thats when you can see the momentum, here PA stalled,...
X-man but was exitring the TRADE 1 the way i did correct?
  • #3,877
  • Feb 6, 2012 1:04pm Feb 6, 2012 1:04pm
Quoting jasonnevis
Hi X-Man, do you prefer to wait until the last 10 minutes of a 1 hour bar before you would enter, or would you enter anytime the bar is open?

If I remember correctly, I think Big-E would usually wait till the end of a candle formation with TMS. Do you recommended this?

Thanks for the great system and thread!
Yes i would recommend waiting to enter at the open of the next candle.
The time i would enter during a candle is when PA is just breaking through S&R areas with ease, then you know theres high momentum there.
But always try to enter at the open of a candle as big E does
X-man the legendary conqueror of markets
  • #3,878
  • Feb 6, 2012 1:09pm Feb 6, 2012 1:09pm
Finally got a move to collect 50 pips.
Trade 1 was a test.....the last two weeks, PA has taken off for 100+ pips from the open of the week.....I do not normally trade the Asian due to low volume but was at my computer as the day opened and entered a trade....just a test.
Trade 2 was taken following the LO, on a cross down on the TDI after the TDI up cross retraced before I got to my computer. Following entry, PA attempted to break resistance for 3 hours and failed....closed for 11 pip after the third failed attempt.
Trade 3....I was concerned about how close the 200 EMA was to entry but decided to enter and monitor closely....if PA had pulled back from the 200, I would have exited immediately....I even had the close order open on my screen......instead it moved right thru it and hit my TP.
A very difficult day to trade with lots of candles having long wicks on one or both ends....no trending market.
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  • #3,879
  • Feb 6, 2012 1:10pm Feb 6, 2012 1:10pm
Quoting hale-mary
X-man but was exitring the TRADE 1 the way i did correct?
Personally i wouldve waited for the candle to close to make a decision as i could see that PA was pushing up and the candle closed just about -5 . But you getting the hang of it and as you get trade more you will learn from mistakes. So closing it the way you did was a good call, nothing wrong with it
X-man the legendary conqueror of markets
  • #3,880
  • Feb 6, 2012 1:23pm Feb 6, 2012 1:23pm
In few videos of dean malone he talks about looking for patterns in the TDI and today i seen an inverse head and shoulders pattern.

I dont really trade patterns on TDI but looking at today it wouldve worked out good.
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X-man the legendary conqueror of markets
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