X-Man's Super Simple System | Page 219 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Super Simple System for Scalping 180 replies

Please suggest a simple & effective Method/System of "Trading System" Forum to newbie 182 replies

Super Simple System 314 replies

Another great Breakout GBP/JPY System (Dachel's Simple system) 62 replies

X-Man's super simple system 4 hour method 1 reply

Attachments: X-Man's Super Simple System
Exit Attachments

X-Man's Super Simple System

  • #4,361
  • Feb 13, 2012 11:09am Feb 13, 2012 11:09am
Quoting X-Man
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
Okay i see it now... I didnt pay attention to the pip amount. I tend to look at the body of the candle with respect to size and where the open and close of the candle is. the number of pips eluded me...believe it or not.
  • #4,362
  • Feb 13, 2012 11:11am Feb 13, 2012 11:11am
Quoting hale-mary
Okay i see it now... I didnt pay attention to the pip amount. I tend to look at the body of the candle with respect to size and where the open and close of the candle is. the number of pips eluded me...believe it or not.
As you practice more and learn from your mistakes you will get better. It just takes time.
X-man the legendary conqueror of markets
  • #4,363
  • Feb 13, 2012 11:16am Feb 13, 2012 11:16am
E/Y was the better trade today.

Things started going somewhere around 11:00 GMT.
If we have a look at the currency strenght meter at that time, we see, that the Yen was indeed stronger in that period (compared to USD).

I'll try to incorporate that more often in the next days and see how it goes.
Attached Image (click to enlarge)
Click to Enlarge Name: 13.2.jpg Size: 91 KB
Thoughts are things
  • #4,364
  • Feb 13, 2012 11:28am Feb 13, 2012 11:28am
Quoting Quezoy
E/Y was the better trade today.

Things started going somewhere around 11:00 GMT.
If we have a look at the currency strenght meter at that time, we see, that the Yen was indeed stronger in that period (compared to USD).

I'll try to incorporate that more often in the next days and see how it goes.
So at the 12:00 the yen showed it had more strength than the EUR and if you sold E/j at 12:00 you couldve gained a nice 50pips.

I see how it works but is this info 100% correct always?
its the first time i came across the site when you posted it up but i'll monitor it to see how it works over a longer period
X-man the legendary conqueror of markets
  • #4,365
  • Feb 13, 2012 11:34am Feb 13, 2012 11:34am
The second candle of the London session was a pullback candle. On the third candle PA weakly pulled down and then pulled back up. The Asian session did what it has done for the past several weeks on the first day of the week (go back to your charts and look for yourselves).....it made a long run during that session, which makes me very cautious with an entry during the beginning of London. There was no clear entry (TDI crossover and a change of color of candle) until the open of candle number 4. PA then proceded to move about 65 pips toward the 200 EMA. I will now need to see a break or bounce off the 200 for another entry. That could take a couple of hours or a couple of days.
Attached Image (click to enlarge)
Click to Enlarge Name: 2.13.12.gif Size: 31 KB
  • #4,366
  • Feb 13, 2012 11:47am Feb 13, 2012 11:47am
Quoting Phx62
The second candle of the London session was a pullback candle. On the third candle PA weakly pulled down and then pulled back up. The Asian session did what it has done for the past several weeks on the first day of the week (go back to your charts and look for yourselves).....it made a long run during that session, which makes me very cautious with an entry during the beginning of London. There was no clear entry (TDI crossover and a change of color of candle) until the open of candle number 4. PA then proceded to move about 65 pips...
How could you tell candle 3 weakly pulled down. When I looked at the chart it showed the TDI cross just a bit and the candle turned red but then went back up.

Also is your TDI the TMS-Osc version. I think mine might be slightly quicker. Then again I am checking everything now to make sure I have a firm grasp.
  • #4,367
  • Feb 13, 2012 11:47am Feb 13, 2012 11:47am
Quoting X-Man
So at the 12:00 the yen showed it had more strength than the EUR and if you sold E/j at 12:00 you couldve gained a nice 50pips.

I see how it works but is this info 100% correct always?
its the first time i came across the site when you posted it up but i'll monitor it to see how it works over a longer period
It shows the strenght of each currency at a certain moment. We cant know where it will go though.
But, if we see that one of two strongly correlated currencies is doing better its good to take that one.

I have no experience with this method, but there are systems based on it, also on this forum. So it seems to work (for some people).

I guess, in a situation like today, when we were expecting that EUR will fall, we could have a look at it and come to the conclusion that pairing it with Yen is better.

Juat my 2 cents.
Thoughts are things
  • #4,368
  • Edited 12:33pm Feb 13, 2012 12:08pm | Edited 12:33pm
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.
I see a couple of things......pullback candles alone are not enough evidence to enter any trade......the entry you took was a little early but the pullback candle was not a false alarm, PA eventually went in the right direction......your entry should have been when the TDI crossover confirmed the pullback candle.....then once you enter, you just need to let the trade run....one higher close is no reason to exit a trade......especially when it is an inside bar and you have a solid TDI cross.....that is where trusting your system comes in........when you have an entry like that, enter a 50 pip TP and a 50 pip SL (or whatever number you are comfortable with but no less than a 35 pip SL) and walk away from the computer.....let it run and you will be amazed at how many times it will hit the TP (assuming you enter on a TDI cross with color change during London or early NY).....it will hit TP enough times (70 to 80% of the time, base on my backtesting) to make you a nice profit for the week. Backtest this yourself to become confident that this system works for you under the conditions and parameters that have been discussed over and over on this thread and the TMS one.
  • #4,369
  • Feb 13, 2012 12:14pm Feb 13, 2012 12:14pm
Quoting hale-mary
How could you tell candle 3 weakly pulled down. When I looked at the chart it showed the TDI cross just a bit and the candle turned red but then went back up.

Also is your TDI the TMS-Osc version. I think mine might be slightly quicker. Then again I am checking everything now to make sure I have a firm grasp.
I use the Traders Dynamic Index with the standard settings, downloaded from Dean Malone's site. On it, the TDI cross only occurs at the open of each candle (unless you change time frames).
  • #4,370
  • Feb 13, 2012 12:24pm Feb 13, 2012 12:24pm
That was really helpful.

do you view regular charts as well to see the inside bars?

What about the outside bars? and do you care about whether the bars are bullish inside bars or bearish, etc?

Off to backtest some more.
  • #4,371
  • Feb 13, 2012 12:25pm Feb 13, 2012 12:25pm
Erm yes, the second candle of London session and 3rd of EU session (im looking at that I-Session indi which includes Frank open), to correct myself.Thats the same candle I was speaking of.
  • #4,372
  • Feb 13, 2012 12:31pm Feb 13, 2012 12:31pm
Quoting hale-mary
That was really helpful.

do you view regular charts as well to see the inside bars?

What about the outside bars? and do you care about whether the bars are bullish inside bars or bearish, etc?

Off to backtest some more.
Each of the bars and candle formations are something I look at but they do not carry as much weight in my decision making as the PA, 200 EMA and TDI crosses. I only look at the bars you see on my charts....I can see the open and close of each bar there.
  • #4,373
  • Feb 13, 2012 12:49pm Feb 13, 2012 12:49pm
Just woke up, and it certainly put a spring in my step when I saw that I managed to snag 37 pips from the move down, in my sleep.

Nice analysis along the way for the entry Emmanual! Thanks.

Nice to see so many making money!!!

What a great thread!
Attached Image
  • #4,374
  • Feb 13, 2012 1:01pm Feb 13, 2012 1:01pm
Quoting X-Man

I went short @ 1.32524 and closed my trade for 40 pips.

Hi X-Man.. I'm a South African living in Exile in Dubai...

Stumbled across your Great thread ... been following TMS and struggling with timing due to working times here in Dubai GMT +4. I like your more strategic and straight forward method (although hats off to big E for pointing us in the right direction). And have pulled in just over 100 pips since Thursday.. Still aiming for the magical 1,000 per month.

Just checking... was the only reason you closed your trade at that point, due to it being the last candle of the London session?
"It always seems impossible until it is done" Nelson Mandela
  • #4,375
  • Feb 13, 2012 1:25pm Feb 13, 2012 1:25pm
Quoting cajun
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.
Hi Cajun, could you please post a chart showing the pviot point. I don't have this on my charts, but see people mention it often.

Nice trade mate!

Thanks!
  • #4,376
  • Feb 13, 2012 1:39pm Feb 13, 2012 1:39pm
Quoting jasonnevis
Hi Cajun, could you please post a chart showing the pviot point. I don't have this on my charts, but see people mention it often.

Nice trade mate!

Thanks!
Here you go.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 21 KB
Attached File(s)
File Type: mq4 PIVOTS_FIBS.mq4   31 KB | 501 downloads
  • #4,377
  • Edited 2:19pm Feb 13, 2012 1:55pm | Edited 2:19pm
So I was looking at some of the trades you took with the TDI you mentioned.

Something does not seem right. MAybe you have the older version and I recently got the newer version. The TDI on compassfx cannot be adjusted so we have default settings.

But if you look at this pic of your trade from beginning of Jan. the areas I separated with two white lines appear to be different from the areas I highlighted on my chart between 2 red vertical lines.

also taking a closer look at the indications. The kinks and turns seem more defined.

Wondering if you know what this means. Top is my chart bottom is your chart.

If its not clear I can post a pic of what mine looks like on jan 10...way way different than your screenshot trade
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu.jpg Size: 125 KB
Click to Enlarge Name: 1.5.12 three days.gif Size: 77 KB
  • #4,378
  • Feb 13, 2012 2:16pm Feb 13, 2012 2:16pm
Quoting Phx62
I use the Traders Dynamic Index with the standard settings, downloaded from Dean Malone's site. On it, the TDI cross only occurs at the open of each candle (unless you change time frames).
This means that you only place your orders at the opening of the candles?

Thank you very much.
Enter Signature
  • #4,379
  • Feb 13, 2012 2:46pm Feb 13, 2012 2:46pm
Seems to be taking a nap at the 200, therefore closed at 1.3195 for another +35, +85 for today. Now i will wait for London.

Good Luck
  • #4,380
  • Feb 13, 2012 2:50pm Feb 13, 2012 2:50pm
Quoting cajun
Here you go.
Thanks!
5 traders viewing now