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X-Man's Super Simple System

  • #4,041
  • Feb 8, 2012 9:44am Feb 8, 2012 9:44am
Here it comes?
  • #4,042
  • Feb 8, 2012 9:47am Feb 8, 2012 9:47am
As you can see from the pic, price has been bouncing between the days open(yellow line) and yesterdays high...

With the EU interest rate statement tomorrow morning, wouldn't really anticipate a lot today....
Attached Image (click to enlarge)
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  • #4,043
  • Feb 8, 2012 9:47am Feb 8, 2012 9:47am
I shorted the pr @1.5883 and got my TP hit for +60 pips. Best that I have done in a while and if I hadn't got interested in reading the newspaper I could have moved my TP & SL a third time and still be in the trade. It was with the D and 4H channel trends but against the 60 & 200 emas so I was a little cautious. Got +1 pip on the gbp/jpy! that's it for today, good trading all. p.
  • #4,044
  • Feb 8, 2012 9:52am Feb 8, 2012 9:52am
Quoting X-Man
from the break of support to the 61.8% is around 70pips and the 50% is around 50pips.
So if it has to happen ill set a 50 pip tp
x-man

the break happend a few minutes ago, so you have now this open trade right?
  • #4,045
  • Feb 8, 2012 9:57am Feb 8, 2012 9:57am
I'll be watching this trade closely as we come to the end of the london session
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Click to Enlarge Name: 11.jpg Size: 122 KB
X-man the legendary conqueror of markets
  • #4,046
  • Edited 10:50am Feb 8, 2012 10:05am | Edited 10:50am
Seems to gravitate back to 1.32563.

Short at 1.32436
  • #4,047
  • Feb 8, 2012 10:13am Feb 8, 2012 10:13am
Here we go ladies and gents, finally the push downward. It's been a bit like giving birth....not that I know...
  • #4,048
  • Feb 8, 2012 10:23am Feb 8, 2012 10:23am
Quoting X-Man
Well i trade everyday 1H only E/U
and yes i trade only 4H for my swing trading method with the daily TF set.
I traded this way since i started my trading career and my 1000+ pips a month.
I'm a full time trader and do not do any other sort of work.
So from that you can tell that im making a living out of these trading methods.
sorry for my question : what x-man mean when he said "with the daily TF set"? Is something about the channel? Thank for your time.
  • #4,049
  • Feb 8, 2012 10:39am Feb 8, 2012 10:39am
Quoting chiche
sorry for my question : what x-man mean when he said "with the daily TF set"? Is something about the channel? Thank for your time.
He's surely the most entitled to answer.
I guess it's "daily timeframes set" and it's about the 1H and 4H methods he uses.
  • #4,050
  • Feb 8, 2012 10:48am Feb 8, 2012 10:48am
X-man, the 50 Fib is under both the 60EMA and the 1.3200 level.
Do you think there might be enough momentum to break this 2 levels?
  • #4,051
  • Feb 8, 2012 10:51am Feb 8, 2012 10:51am
Well, downward move surely helped me, had to leave for a couple of hours and my short from yesterday hit TPSometimes it pays to just hang in there sooner or later it will go your way.
  • #4,052
  • Feb 8, 2012 10:52am Feb 8, 2012 10:52am
Exited my 1h eur/usd trade due to pull backs.
No patience for days like today.

Exit at 1.3235
  • #4,053
  • Feb 8, 2012 11:01am Feb 8, 2012 11:01am
Quoting chiche
sorry for my question : what x-man mean when he said "with the daily TF set"? Is something about the channel? Thank for your time.
The 4h requires that the Sonic Channel be set on the D. and overlaid on the 4H. See a posting by erebus for setting that indicator's properties. Both TFs must have the channel going in the same direction. If you follow the 4H rules strictly you won't get many setups, X-Man notes this. I don't exactly follow the rules as waiting for the 4 ema and the 60 ema to touch/cross can take a long time. I do follow the TDI rules quite closely. Just making it my own and as noted I collected 60 pips this morning using the 4H strategy. I wish more here used it.
  • #4,054
  • Feb 8, 2012 11:09am Feb 8, 2012 11:09am
Managed to catch the short lived downward move...great to get some back after being slaughted yesterday.
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  • #4,055
  • Feb 8, 2012 11:10am Feb 8, 2012 11:10am
took two trades.

First one due to the pullback candle and TDI cross down. Forgot about the tight asian range. Waited a few hours got out a BE. Lucky

Second trade took it when it broke the range at 1.3235 (marked by white line)
waited a bit after the pullback candle to see if price would continue down. Got out at -30 pips.

I know first trade was an error in judgement. Not sure of the second trade.
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Click to Enlarge Name: eu.jpg Size: 119 KB
  • #4,056
  • Feb 8, 2012 11:38am Feb 8, 2012 11:38am
Hi x-man, when a pair trades in a channel for a period of time an then breaks out of that channel is it best to trade on the break or wait for a close outside of that channel
  • #4,057
  • Feb 8, 2012 11:44am Feb 8, 2012 11:44am
Quoting tayclabay
Hi x-man, when a pair trades in a channel for a period of time an then breaks out of that channel is it best to trade on the break or wait for a close outside of that channel
Yes you can but personally i dont trade those situations.
if you do trade those then remember that PA will always go and settle on the next trend line when the current trend line is broken , like a higher TF trend line
X-man the legendary conqueror of markets
  • #4,058
  • Feb 8, 2012 11:45am Feb 8, 2012 11:45am
Quoting CodeMonster
Exited my 1h eur/usd trade due to pull backs.
No patience for days like today.

Exit at 1.3235
yeah today was just an annoying day.
I closed my trade for -10 pips.
X-man the legendary conqueror of markets
  • #4,059
  • Feb 8, 2012 11:58am Feb 8, 2012 11:58am
So if the price consolidates in the Asian range and does not break out like today. Best to skip it even though we got signals that seemed good?
  • #4,060
  • Feb 8, 2012 12:07pm Feb 8, 2012 12:07pm
Quoting hale-mary
So if the price consolidates in the Asian range and does not break out like today. Best to skip it even though we got signals that seemed good?
can any 1 help me and tell me how to set EMA , i put a default 50 setting? is it ok do i have to put some other settings thanks
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