X-Man's Super Simple System

My expectation on E/U 1H would be that PA will retrace a bit, maybe around 30 pips then will bounce off pivot and continue down.

@Bro josh: why would you take that entry? you trade in lower TF? Sorry if I missed out something >.<

I would like to post something that the experienced traders have already figured out, but some of the newbies won't yet. Before I start I would like to say this: Back testing is essential and everyone should do quite a bit of it before going to the next stage which is Demo testing for a good while. Backtesting provides the oppoturunity to get experience and confidence in a system and gives you an idea of what to expect

With That said I would like to go on to the negatives about backtesting. First: It is very boring. Yes, Yes, we all know that. But it also does not reflect anywhere near real world results. You see, we all keep an eye out for big news and avoid trading it, or we put protection in against it if we are already in the trade. But we can't really see that in the past on our charts. I guess you could try, but it would be too cumbersome. so this skews our results greatly. Next, seeing a candle form in front of you within' a moments time with a small tap on the F12 key is alot different than watching the candle form. When a candle forms and you are in a trade watching it form, all the emotions come forth and often influences you when, in fact, it shouldn't. Backtesting builds confidence, lets you know if the system has the possibility of being profitable, and gives you some practice and all are essential, but it is not indicative of future results.

On another related note: after putting all of my past trades on a chart, I found that my entries and exits were often impulsive. Some good, too many of them bad. I have gone back to Demo trading myself to get my account out of harms way and work on my skills. This is very humbling as I have been trying to trade forex for almost 3 years now. I know a great deal about Forex trading. The do's, the Don'ts, the How's, the systems, and all that stuff... But I don't yet have the skill of forex trading. This was demonstrated by my account balance as well as my past trades. I would invite everyone in the forum that is having difficulty trading to put all your trades on the charts and look closely at them to see good your skill is at trading this system...... Good luck eveyone.

LL

I try not to post to much because yes I only trade 30min it suits my style of trading... but was reply to a post someone wrote....

I no this tread is for 1hour so I try not to post anything so know one gets confuses!!!

I have respect for this thread and don't want people getting confused...

Thanks bro LL,

I think I will stop LOL-ing my account for awhile now and start to backtest and DEMO on it first. Maybe Demo for 2 months and then I am good to go? What do you think?

Many thanks,
Criss

Are we staring at a possible 123 continuation of the downtrend with the 200 EMA as the S&R? I'm stayin' out because there is divergence and mixed signals at this point, but would be a great discussion topic on current events anyhow.

Scalpist: Depends on the results of your demo testing.http://www.forexfactory.com/images/icons/icon10.gif

i tend to aggree with X-man here, looking to short her, she seems to be atalling around here, 317x

Looking at the daily it appears ready for a further move down.

Seems it is forming new resistance inline with the last major swing low yesterday.

For folks trading GU, mind you there is a lot of heavy GBP news in 30 minutes.

i am confused as to way you guys are thinking short?? based on the chart isnt this a good opp to go long with targets around the 38, 50, or 61 fib. two long wicks and strong close up?

pls let me know if my thinking is correct, as i am still trying to learn. thks

my chart also says resistance at confluence of the 200ema 38.2 fibo and Fibo expansion of 61.8 all round the 1.3185 > I'm still short in 3 trades .

If we break asia high could go a bit higher

EU will retrace to at least 1.3185 I think... Hehe lets see! <3
Did not take the trade as I decide to backtest and demo the strategy for this month.

Good luck everyone have a pipastic day!!!

Im holding long with a small TP.
i entered at 1.31600

In for a short long trade too...

What do you call a small TP??? 10pips, 20pips??

I entered at the same price.
Exited with 10 pips with my live account.
Got cold feet.

Yeah, I'd like to know too...looks like a pullback candle with a TDI cross. Why short?

BTW X-Men, my cousin added you into his facebook. just FYI, we are sharing this forum account! A friend of my cousin told us that X-Men SSS strategy is good so we chipped in! heheh, I hope we can all learn and grow together

Happy valentine's day to all X-man apprentice!

Many thanks,
Criss

LOL noo 10 is too small im looking at 25 to 30 pips