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  • #4,121
  • Feb 9, 2012 8:41am Feb 9, 2012 8:41am
Quoting X-Man
[color=Blue][size=3]hey guys
Anyone get any trades?
I went short ealier and locked in 25 pips.
I set my target on the daily pivot as you can see PA bounced off that pivot.
I traded the bounce off the pivot once it past the top of the previous red candle and locked in 30pips.

The rest of my day i spent back testing a scalp system.
its looking pretty neat but let me tell you now it aint for the faint hearted traders.

If traders are battling on the higher TFs then by no means should they move to any TF below the 1H. Only when i trader develops...
Hi Xman.

May I know how do you obtain your daily pivot? is it EMA 60 or channel or something else altogether? thanks...
  • #4,122
  • Feb 9, 2012 8:42am Feb 9, 2012 8:42am
X-man, So when did you start doing bounce trades? Looks interesting ,but for people like me....I'd be afraid to execute since it would seem like guessing. Maybe I dont know how to read the bars well enough yet.
  • #4,123
  • Feb 9, 2012 8:44am Feb 9, 2012 8:44am
I went long after the pullback hourly candle that bounced of the 60 ema for 42 pips. Tried to hold it to see if it would break resistance but no dice.
Attached Image
  • #4,124
  • Feb 9, 2012 8:58am Feb 9, 2012 8:58am
Quoting stcl
Hi Xman.

May I know how do you obtain your daily pivot? is it EMA 60 or channel or something else altogether? thanks...

Remember i posted that sonic chart panel that shows pivots , the closest 00 , the LO, the LC etc. Its the most useful tool to setting targets. It shows you almost everything and comes in handy
X-man the legendary conqueror of markets
  • #4,125
  • Feb 9, 2012 9:01am Feb 9, 2012 9:01am
Quoting hale-mary
X-man, So when did you start doing bounce trades? Looks interesting ,but for people like me....I'd be afraid to execute since it would seem like guessing. Maybe I dont know how to read the bars well enough yet.
LOL its not that difficult. its the same as i use to trade but i just said the PA bounced off that level then you trade it normally with the rules etc.
X-man the legendary conqueror of markets
  • #4,126
  • Feb 9, 2012 9:05am Feb 9, 2012 9:05am
Quoting X-Man
[color=Blue][size=3]hey guys
Anyone get any trades?
I went short ealier and locked in 25 pips.
I set my target on the daily pivot as you can see PA bounced off that pivot.
I traded the bounce off the pivot once it past the top of the previous red candle and locked in 30pips.

The rest of my day i spent back testing a scalp system.
its looking pretty neat but let me tell you now it aint for the faint hearted traders.

If traders are battling on the higher TFs then by no means should they move to any TF below the 1H. Only when i trader develops...
I had trade in morning got out at BE.... I only trade 30min charts and have had alot of success with it!! It suit my trading style better

I am done for this week and have +183 pips....

Many Thanks for all you do x-man
  • #4,127
  • Feb 9, 2012 9:06am Feb 9, 2012 9:06am
Quoting D.d.
is there a good signal at the NY opening, on the 15TF , there's a possible TDI cross or just a bounce
Hey there D.d

Did you get that long trade? Your entry couldve been just above that previous red candle.

By the way why are there so many lines this way and that way on your chart?
LOL it looks like laser wars hehe
X-man the legendary conqueror of markets
  • #4,128
  • Feb 9, 2012 9:16am Feb 9, 2012 9:16am
Quoting X-Man
Hey there D.d

Did you get that long trade? Your entry couldve been just above that previous red candle.

By the way why are there so many lines this way and that way on your chart?
LOL it looks like laser wars hehe
hi,

finally not, I was a litlle bit affraid of the comming news, and the volatility, so, i was waiting waiting, and it pass, so it was a oportunity of 70 pips, but, easy to say after.
i'm training your system on backtest so perhaps with experience, it will be easier.

the red lines is just some lines that I draw during the London session , to find some limits of the movement.
  • #4,129
  • Feb 9, 2012 9:33am Feb 9, 2012 9:33am
Hi guy I just wanted to share with you how i backtest and found its really helps me....

I use strategy tester with a basic EA, use whatever date you wish as it starts I pause it and add my template to the chart, then trade it candle by candle good thing I like about it is you can speed it up slow it down and even pause it!!!

I use it like a trading simulator....

Hope this will help some of you
  • #4,130
  • Feb 9, 2012 10:48am Feb 9, 2012 10:48am
Pullback candle on 1hr timeframe EU?

I agree we have to wait before the candle is closed, but does this look like one?
  • #4,131
  • Feb 9, 2012 10:49am Feb 9, 2012 10:49am
I was up 35 but got out with 19...2nd trade with this system. Thank you X-Man
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  • #4,132
  • Feb 9, 2012 10:58am Feb 9, 2012 10:58am
Quoting Liberum
Pullback candle on 1hr timeframe EU?

I agree we have to wait before the candle is closed, but does this look like one?
It was a doji bouncing off the 60 ema. There was no cross. I'm practicing how to trade pa in anticipation of a cross. So far so good. Thanks a million xman, ph62 and others!
  • #4,133
  • Feb 9, 2012 11:01am Feb 9, 2012 11:01am
I did not trade at all yesterday because there was no clear break of the Asian session, long or short.
Due to the many areas of support and resistance and no clear trend direction right now, I reduced my TP and my SL to 30 pips. Originally, I was going to try a 25 pip TP & SL but the 30 pip worked out.
Trade 1....This is not normally a time I trade but I was watching PA at the time and took the signal. On the third attempt to break the high of the Asian session, PA finally made a move and I entered a trade that hit the +30 TP.
Trade 2...On the 2nd candle of the London session, I entered on a break of the low of the previous two candles and a cross of the TDI for +30.
Trade 3...On the next cross of the TDI after news, I entered for another +30......Done for the day.
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  • #4,134
  • Feb 9, 2012 11:25am Feb 9, 2012 11:25am
Not sure what I am missing.

Trade 1 entered on the break of te pivot (yellow line) as tdi crossed down. Trade did not pan out closed for break even.

trade 2 entered on break of resistance with TDI cross. Did not pan out. Took a 30 pip loss. Seeing phx62 post and his entry on the long wick blue candle and X-man's posts of the bounce trades. I dont know what I am failing to observe. Every time I think I understand. My account statement says otherwise.

I just happened to throw the pivots on there so no comments about "oh there was a daily resistance there" as those S/R levels sometimes get respected and sometimes dont.
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  • #4,135
  • Feb 9, 2012 11:54am Feb 9, 2012 11:54am
Quoting hale-mary
Not sure what I am missing.

Trade 1 entered on the break of te pivot (yellow line) as tdi crossed down. Trade did not pan out closed for break even.

trade 2 entered on break of resistance with TDI cross. Did not pan out. Took a 30 pip loss. Seeing phx62 post and his entry on the long wick blue candle and X-man's posts of the bounce trades. I dont know what I am failing to observe. Every time I think I understand. My account statement says otherwise.

I just happened to throw the pivots on there so no comments about "oh there was a daily resistance...
hale-mary....just my observation but in my opinion, your trade 1 was taken late.....on the 4th red candle....if you observe the rules of the TMS, the trade should have been taken on the 1st or 2nd red candle. I am not sure exactly where you entered trade 2 but per TMS, it should have been taken at the opening of the 2nd blue candle because the TDI crossed up as blue candle 1 closed.
  • #4,136
  • Feb 9, 2012 11:56am Feb 9, 2012 11:56am
Quoting Phx62
I did not trade at all yesterday because there was no clear break of the Asian session, long or short.
Due to the many areas of support and resistance and no clear trend direction right now, I reduced my TP and my SL to 30 pips. Originally, I was going to try a 25 pip TP & SL but the 30 pip worked out.
Trade 1....This is not normally a time I trade but I was watching PA at the time and took the signal. On the third attempt to break the high of the Asian session, PA finally made a move and I entered a trade that hit the +30 TP.
Trade 2...On the 2nd...
Phx62...for exits do you just use a 30 pip sl/tp or a 50 pip sl/tp depending on market conditions or are you watching for potential s/r, turn around points, or changes in the TDI on the way to your target?

Thanks for all you are doing to help on this thread, I am so greatfull
  • #4,137
  • Feb 9, 2012 12:01pm Feb 9, 2012 12:01pm
Quoting Phx62
hale-mary....just my observation but in my opinion, your trade 1 was taken late.....on the 4th red candle....if you observe the rules of the TMS, the trade should have been taken on the 1st or 2nd red candle. I am not sure exactly where you entered trade 2 but per TMS, it should have been taken at the opening of the 2nd blue candle because the TDI crossed up as blue candle 1 closed.
Trade 2 was on the break of the 1.3310 level as it was stalling out there previously.(bad decision) Wouldn't the large wick on your trade 3 make you want to skip it even with the tdi cross? I am not sure what you saw in the candle to make a long.

On the first trade I thought it was a 123 pattern which is why i entered
  • #4,138
  • Feb 9, 2012 12:02pm Feb 9, 2012 12:02pm
Quoting jflor100
Phx62...for exits do you just use a 30 pip sl/tp or a 50 pip sl/tp depending on market conditions or are you watching for potential s/r, turn around points, or changes in the TDI on the way to your target?

Thank for all you are doing to help on this thread, I am so greatfull
All of the above....when PA is struggling to reach the average daily range in pips, I will reduce the TP/SL. I also watch the 200 EMA closely and long term trendlines that have been tested at least once. To a lesser extent, I watch S&R lines as they are not as dependable. Most of all, I try to judge momentum and Price Action, watching for candle formations and pullbacks.
  • #4,139
  • Feb 9, 2012 12:08pm Feb 9, 2012 12:08pm
Quoting Phx62
I did not trade at all yesterday because there was no clear break of the Asian session, long or short.
Due to the many areas of support and resistance and no clear trend direction right now, I reduced my TP and my SL to 30 pips. Originally, I was going to try a 25 pip TP & SL but the 30 pip worked out.
Trade 1....This is not normally a time I trade but I was watching PA at the time and took the signal. On the third attempt to break the high of the Asian session, PA finally made a move and I entered a trade that hit the +30 TP.
Trade 2...On the 2nd...
My friend: I have a question, the 3 vertical lines that you have is the time for london open? close? ny open ? close? I 'm confuced I live in nj, usa (est time) so I put my vertical lines at London open before o after? and NY open : before o after?, I hope you understand.
  • #4,140
  • Feb 9, 2012 12:11pm Feb 9, 2012 12:11pm
Quoting Phx62
All of the above....when PA is struggling to reach the average daily range in pips, I will reduce the TP/SL. I also watch the 200 EMA closely and long term trendlines that have been tested at least once. To a lesser extent, I watch S&R lines as they are not as dependable. Most of all, I try to judge momentum and Price Action, watching for candle formations and pullbacks.
wow, incredible answer thank you again. I suggest everyone read this if they are struggling with exits, great advice
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