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  • #4,061
  • Feb 8, 2012 10:30am Feb 8, 2012 10:30am
Is there a "X-Man's Super Simple System"MSN group?a chatting group can let traders to share trade experience and opinion together.
  • #4,062
  • Feb 8, 2012 12:11pm Feb 8, 2012 12:11pm
Went quite early short after PA move and TDI signal.
SL above swing high survived and 6 hours later I banked half with +30 and half with BE+4.

Got also +24 from GBP/JPY. It was a nice move down, though I didnt catch it at the start, but entered after pullback move.

Some other pairs moved nicely today.
To bad I was busy staring at EUR/USD
Thoughts are things
  • #4,063
  • Feb 8, 2012 12:43pm Feb 8, 2012 12:43pm
Quoting hale-mary
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.
From my backtesting it appers to me, that when we have the green and red line above the yellow and are expecting a move down, like today, it is better to wait till green penetrates red and yellow.

If we are trading under the yellow and looking to short, then of course the green crossing red is OK.

Just something I've noticed.

Yes, the 2nd trade also didnt go far, but you could, for example, have taken half with +25 and the rest at SL at BE.
Thoughts are things
  • #4,064
  • Feb 8, 2012 1:28pm Feb 8, 2012 1:28pm
Took 2 trades today.
I noticed the bullish pattern shooting star-hammer-shooting star on 6-8GMT and took it as a short signal. So I waited for TDI cross and entered short at 10:00GMT.
At 13 I noticed PA had returned to the upper side of the Asian range, so I took a quick short scalp for 20 pips which hit TP at 14:00.
As PA still lingered I closed half of my first trade for +22 pips and moved other half stop at BE.
I let the other half go and gave it a chance, hoping it would hit at least the 38.2 Fib level, which was missed for 5 pips before backfiring at me and hitting SL at BE.
Any comment would be MUCH APPRECIATED!
For first time in my life I almost felt I had control over what I had to do.
Maybe I would never achieved this hadn't I found this thread and its people. Thank you so much!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURUSD_080212_H1.jpg Size: 82 KB
Click to Enlarge Name: EURUSD_080212_H1_synergy.jpg Size: 136 KB
  • #4,065
  • Feb 8, 2012 3:28pm Feb 8, 2012 3:28pm
Scalped 75 pips (was quite predictable as long as it was within the range 1.3244 <--> 1.3289) but today was not a good day, these small ranging movements are barely tradeable with this method in TF > 15 MIN. Hopefully there will be more momentum the next days...
  • #4,066
  • Edited 5:33pm Feb 8, 2012 4:17pm | Edited 5:33pm
Hi S3 traders,
Yesterday was one of those days testing our patience and endurance looking for good S3 H1 trade setups.
Well, so long as we have our trade plan done, no trades also mean no regrets under such market conditions. We did our pre-trade preparatory work in having our trade plan done.
Few traders may ask:
Q: How could we have known that the market would be like that yesterday?
A: Yes we do know, but we will only know the live market behaviour only in the future.

Anway, I tested scalping this S3 method using M15 and M5 TFs, did find a few setups but the range was rather narrow. No fun scalping anyway.

Attached my post mortem of 8 Feb.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD 8 Feb pomo.png Size: 76 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #4,067
  • Feb 8, 2012 5:40pm Feb 8, 2012 5:40pm
Hi,

My Big Picture update for this week 06.
Still looking for a base to place my long swing position. See attached chart.

Today is reaction to the BoE and ECB news. Market is compressed for one day. A bigger move than yesterday, for sure.
You can expect price to hit the dailiy pivot S&R level 3 on either direction. Why?

Good Trading!
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD Week 06 Big Picture9 Feb update .png Size: 49 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #4,068
  • Feb 8, 2012 5:53pm Feb 8, 2012 5:53pm
Quoting Quezoy
From my backtesting it appers to me, that when we have the green and red line above the yellow and are expecting a move down, like today, it is better to wait till green penetrates red and yellow.

If we are trading under the yellow and looking to short, then of course the green crossing red is OK.

Just something I've noticed.

Yes, the 2nd trade also didnt go far, but you could, for example, have taken half with +25 and the rest at SL at BE.
Hi Quezoy,

agree with you.
It is a matter to put weightage on ceratin setup conditions like what you described...knowing the market condition.

There are more factors to look at at all times :
Price Action> Market Condition> Volatility and Range> Trend> Momentum>

Good Trading mate!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #4,069
  • Feb 8, 2012 9:18pm Feb 8, 2012 9:18pm
Hi,

Just made an early trade entry on seeing a good PA ...DIB breakout with S3 support, i.e. TDI crosses plus TDI coming off the narrow band. Let's see if volatility increases the the narrow band will widen. This woild be good potential for swing entry provided the day price swing wont be too big for the trade management to handle.

Risk is this trade is done during Tokyo sushi time when volume is low.
Other risk is shown on the attached chart.

PA Study: Newbies to observe Price behaviour within Bollinger Band (20,2,0). You can do visual backtest on a clean chart. Note down what you see.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD H1 DIB entry.png Size: 33 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #4,070
  • Feb 8, 2012 11:26pm Feb 8, 2012 11:26pm
Hi,
My trade is now BE protected before LO.
Taken +48pips on on position, Remaining position protect at BE.

Now looking at Frankfurt open, rather quiet. Volatility may lower as market will wait for ECB rate annoucement later.
LO traders beware too as BoE rate announcment today.

There will be stop hunting with long term buyer stops park below Asian low. There should enough room down for intraday sell traders should this happen.

I will look for continuation setup after rate annoucements because I am H4 bullish bias.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD 9 Feb Trade Mngt_1 GMT0700.png Size: 30 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #4,071
  • Feb 8, 2012 11:31pm Feb 8, 2012 11:31pm
Hi guys took my first live trade with S3, but i didt not follow the rules.i mean i took this GU trade on the asian session,as i saw pull back from candle from the res area. now tralling with 2pips ,now up by 30pips...... but miss the EU and AU trades ...........thank you guys for the system
Attached Image (click to enlarge)
Click to Enlarge Name: gu.png Size: 14 KB
NEVER go against the Daily trend
  • #4,072
  • Feb 8, 2012 11:41pm Feb 8, 2012 11:41pm
Quoting shaikjun
Hi guys took my first live trade with S3, but i didt not follow the rules.i mean i took this GU trade on the asian session,as i saw pull back from candle from the res area. now tralling with 2pips ,now up by 30pips...... but miss the EU and AU trades ...........thank you guys for the system

Nice trade Shaikjun, well taken using APB and TDI
Congrats!
Well which S3 H1 method rules did you not follow? The only rule broken is the ccy pair and time of trade???? Anyway, rules are meant to be broken.

Your trade show that S3 H1 is good so long we see PA>Trend>Momentum, right?

Now you can go for "Advance S3" ...keep working on your screen time. 5000 hours is minimum to become proficient.

Good Trading!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #4,073
  • Feb 8, 2012 11:51pm Feb 8, 2012 11:51pm
Hi,
Looking at GBPUSD H4, this looks like a valid 3-wave correction setup for good Long. May need today BoE to say something to make this come true.

BTW, shaikjun trade looks very well support by the 61.8% fib-r... near perfect setup. Got lots of potential, so it is trade management that will help you maximise profit.

See chart.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD H4 overview 9 Feb.png Size: 44 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #4,074
  • Feb 8, 2012 11:59pm Feb 8, 2012 11:59pm
Quoting emmanuel7788
Nice trade Shaikjun, well taken using APB and TDI
Congrats!
Well which S3 H1 method rules did you not follow? The only rule broken is the ccy pair and time of trade???? Anyway, rules are meant to be broken.

Your trade show that S3 H1 is good so long we see PA>Trend>Momentum, right?

Now you can go for "Advance S3" ...keep working on your screen time. 5000 hours is minimum to become proficient.

Good Trading!

Hi emmanuel7788 ,i mean by taking trade outside the london hours,thats the only rules i broke i guess,im trying to take trades on a pull back like what X_man says, anyway im from singapore and im always infront of my laptop full time from morn till london close ,its a long way to go for me to become a pro......still got more to learn from you guys in FF
NEVER go against the Daily trend
  • #4,075
  • Feb 9, 2012 12:02am Feb 9, 2012 12:02am
Today should be an interesting day in the PA. The first star in this ballet will be the GBP. So we admire its growth. Theoretically, should grow up. It all depends on how they report back
  • #4,076
  • Feb 9, 2012 12:06am Feb 9, 2012 12:06am
is going to pop today

Though we had a break of yesterdays resistance, I doubt we'll see an upward move. First we need to retrace a good bit. But in this case, if we break down, it will go quite far IMO.
Attached Image (click to enlarge)
Click to Enlarge Name: 9.2.jpg Size: 230 KB
Thoughts are things
  • #4,077
  • Feb 9, 2012 12:10am Feb 9, 2012 12:10am
Quoting shaikjun
Hi emmanuel7788 ,i mean by taking trade outside the london hours,thats the only rules i broke i guess,im trying to take trades on a pull back like what X_man says, anyway im from singapore and im always infront of my laptop full time from morn till london close ,its a long way to go for me to become a pro......still got more to learn from you guys in FF
Hi shaikjun,

just kidding about breaking rules, don't take me that serious.

I am currently in Singapore too. How many Singapore based S3 traders out there?

Shall we form a "S4" Group= Singapore Super Simple System Group...very apt for SG.

Please PM me if anyone interested.

Cheers!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #4,078
  • Feb 9, 2012 12:14am Feb 9, 2012 12:14am
Quoting emmanuel7788
Hi shaikjun,

just kidding about breaking rules, don't take me that serious.

I am currently in Singapore too. How many Singapore based S3 traders out there?

Shall we form a "S4" Group= Singapore Super Simple System Group...very apt for SG.

Please PM me if anyone interested.

Cheers!
i`ll love that idea emmanuel7788,hope we can get more members and trade and learn togather,hope to hear the good news soon......
NEVER go against the Daily trend
  • #4,079
  • Feb 9, 2012 12:14am Feb 9, 2012 12:14am
Divergence is present, could be a move down...
Attached Image (click to enlarge)
Click to Enlarge Name: New Bitmap Image.gif Size: 20 KB
  • #4,080
  • Feb 9, 2012 12:25am Feb 9, 2012 12:25am
im out of GU trade with 25 pip, anyway high impact news on the way,better to stay aside for a while
Attached Image (click to enlarge)
Click to Enlarge Name: gu.png Size: 11 KB
NEVER go against the Daily trend
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