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  • #4,341
  • Feb 13, 2012 8:57am Feb 13, 2012 8:57am
Downward trend, price below the EMA, TDI crossed down, PA moving down. Perfect setup, I go short. Lose.

No matter what I do, I can't win with this system.
  • #4,342
  • Feb 13, 2012 9:01am Feb 13, 2012 9:01am
Took half at +24, the rest I'll manage manualy.
I think it will go at least till daily pivot.

If anyones interested, there a nice position size calculator on babypips: http://www.babypips.com/tools/forex-...sitionsize.php
Thoughts are things
  • #4,343
  • Feb 13, 2012 9:02am Feb 13, 2012 9:02am
Quoting shaikjun
Did anyone short this on a live?
yes

Quoting hale-mary
I saw what i think is a pullback candle highlighted with the red arrow. Took the trade on open of next candle as it turned red and TDI did cross down. SL was above the high of the pullback candle (about 30 pips) TP was to fill the gap or close to it ( 1.3180)

I stayed in the trade until the 2nd red candle pullback so it was a BE trade.
Why did you exit at BE? My TP 35 was just hit. As long as the TDI does not hook back and there is enough room to the EMA200 (or other major support), there is no need to exit.

gary
  • #4,344
  • Feb 13, 2012 9:06am Feb 13, 2012 9:06am
Quoting gms
yes



Why did you exit at BE? My TP 35 was just hit. As long as the TDI does not hook back and there is enough room to the EMA200 (or other major support), there is no need to exit.

gary
It was flat when that "pullback candle" closed. My main problem is I dont know how to deal with candles that have a different close. For example, less say we have a couple of candles with a lower close and then one comes with a higher close.I am prone to exit with the higher close only to see the pair continue to drop. Today is a good example of that. I can deal with uniformity of closed but when one candle closes differently I tend to exit. I would like to get better at not doing that, but I am not sure what needs to be watched to ignore it.
  • #4,345
  • Feb 13, 2012 9:13am Feb 13, 2012 9:13am
Quoting Forexsaurus
Downward trend, price below the EMA, TDI crossed down, PA moving down. Perfect setup, I go short. Lose.

No matter what I do, I can't win with this system.

Hi Forexsaurus,

It would be good if you can post your chart with entry and exit points. Also briefly describe what you did and your thoughts during the trade.
People here can help you when you post your trades.

Regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #4,346
  • Feb 13, 2012 9:18am Feb 13, 2012 9:18am
Quoting hale-mary
It was flat when that "pullback candle" closed.
It was slow, but not flat. All red synergy candles show Lower Highs and Lower Lows.

gary
  • #4,347
  • Feb 13, 2012 9:22am Feb 13, 2012 9:22am
Looks like the dragonfly doji (I have HA and normal japanese Candles side by side) in the middle of London session hasnt done a thing, and the downtrend momentum couldn't be stopped on H1.Not a veritable pullback candle after all..

Boring day so far, no trades taken.
  • #4,348
  • Feb 13, 2012 9:26am Feb 13, 2012 9:26am
Closed my short at 1.3215 for +50 as i see it is struggling to cross the Pivot Point, all other indications look good to continue but i will not chance it, i will l wait and see what happens, could get back in later.
  • #4,349
  • Feb 13, 2012 9:27am Feb 13, 2012 9:27am
Quoting gms
It was slow, but not flat. All red synergy candles show Lower Highs and Lower Lows.

gary
My tdi showed flat. The green line. I was looking at the open and close of the candle and it closed higher. The next candle after the pullback when it closed was when the tdi and everything started to look normal on my chart.
  • #4,350
  • Feb 13, 2012 9:35am Feb 13, 2012 9:35am
I did a mistake , going out on my short at the pivot level, the mistake was to looking at the M15 wich i used to enter, +20 pips, but i have to work at my exits, could made about 20 pips more,
  • #4,351
  • Feb 13, 2012 9:43am Feb 13, 2012 9:43am
Done for today.
Half +24, half +36.

I'd wait a bit longer if pivot breaks, but dont have time now.
Thoughts are things
  • #4,352
  • Feb 13, 2012 9:52am Feb 13, 2012 9:52am
Is this going to hit the TP -
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy.gif Size: 27 KB
Forex is boring but profitable with patience and discipline
  • #4,353
  • Edited 12:26pm Feb 13, 2012 9:57am | Edited 12:26pm
Looking back today though, candle 3 ,H1 London session is a pullback candle that announced the downtrend we see for today.Classic S3 after all.
Thanks X-man.

Think I need to pay attention more ...

Edit:

Correction
Candle 3 of EU session candle 2 of London session
  • #4,354
  • Feb 13, 2012 10:20am Feb 13, 2012 10:20am
Quoting hale-mary
I saw what i think is a pullback candle highlighted with the red arrow. Took the trade on open of next candle as it turned red and TDI did cross down. SL was above the high of the pullback candle (about 30 pips) TP was to fill the gap or close to it ( 1.3180)

I stayed in the trade until the 2nd red candle pullback so it was a BE trade.

The next chart shows three red arrows with what I think are pullback candles. I am having trouble checking the validity of them. Because I tend to get out of a trade when I see a pullback candle.

Last friday we...
Hey hale mary

The one thing that i keep noticing about your trading is fear.
There is nothing wrong with your entries.

As i have mentioned before that you are not ready to exit your trades at BE. I told you not to move your Sl to BE
Allow your trades room to breathe and for now allow your trades hit SL.
I hope you are demo trading and not live trading
X-man the legendary conqueror of markets
  • #4,355
  • Feb 13, 2012 10:31am Feb 13, 2012 10:31am
Quoting Forexsaurus
Downward trend, price below the EMA, TDI crossed down, PA moving down. Perfect setup, I go short. Lose.

No matter what I do, I can't win with this system.

Today i took my 1st trade based on all the right signals, went very smooth and coined in 30 pips. I am really curious as to where it went wrong for you, any chance you could upload a screenshot of your entry point so we can all learn from it.
  • #4,356
  • Feb 13, 2012 10:37am Feb 13, 2012 10:37am
Quoting prftablefool
Is this going to hit the TP -
I think it will hit, but look out for a lot of heavy jpy news tonight. If the trade isn't closed by then, I would have the SL in profit.
  • #4,357
  • Feb 13, 2012 10:45am Feb 13, 2012 10:45am
Quoting X-Man
Hey hale mary

The one thing that i keep noticing about your trading is fear.
There is nothing wrong with your entries.

As i have mentioned before that you are not ready to exit your trades at BE. I told you not to move your Sl to BE
Allow your trades room to breathe and for now allow your trades hit SL.
I hope you are demo trading and not live trading
What about the pullback identification...those tend to mess me up when I trade. As in if I see one like today when I am in a trade. But it was a false alarm. Also the candle closes not being consistent messes me up as well, because I always think it can go the other way.
  • #4,358
  • Feb 13, 2012 10:53am Feb 13, 2012 10:53am
Today i spent most of my day shopping and with my tailor, my brothers wedding is so soon so theres a rush now to finish the final touches and get everything organized , carried my laptop with me and checked my charts every hour. What a wonderful job I have


I went short @ 1.32524 and closed my trade for 40 pips.
X-man the legendary conqueror of markets
  • #4,359
  • Feb 13, 2012 10:59am Feb 13, 2012 10:59am
Just a check, are eu and gu both at daily pivots here?
  • #4,360
  • Feb 13, 2012 11:01am Feb 13, 2012 11:01am
Quoting hale-mary
What about the pullback identification...those tend to mess me up when I trade. As in if I see one like today when I am in a trade. But it was a false alarm. Also the candle closes not being consistent messes me up as well, because I always think it can go the other way.
You couldve waited longer and only exited at the previous candles high which would be around 15 pips. Then that would confirm your pull back if there was a real change in the direction of PA but you just close your chart at BE just because you dont want to incur losses is unacceptable. You have to be prepared to take a loss and not only close trades at BE. I only started moving my trades to BE recently when i was totally confident and had my edge but you dont have that yet.

15pips on a 1H charts is nothing
X-man the legendary conqueror of markets
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