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X-Man's Super Simple System

  • #4,621
  • Feb 15, 2012 5:40am Feb 15, 2012 5:40am
X-Man,

Are you still in it to win it on your short trade?
  • #4,622
  • Feb 15, 2012 5:43am Feb 15, 2012 5:43am
EURUSD out at BE+3. Really undecided market Today.

GBPUSD, was up +30, should have taken something off, but there was strong downside pressure at market open. It has also closed at BE+3.
  • #4,623
  • Feb 15, 2012 6:02am Feb 15, 2012 6:02am
Traders,
May I suggest some of you spend some more time studying Heiken Ashi Candles and Basic Market Structure.
Also, print X-Man's rules for this system and read them 3 times before you sit down to trade. It is clear by the number of questions regarding entries and price action that you have not adequately prepared to address the market.
Notice how X-Man "attacks" the market. He is ready, calm and confident.
Also notice his external dialogue (his posts), constantly observing, engaging and evaluating to build his case to enter the market. Once his criteria are met, he attacks. He does not over-analyze, accepts risk and takes responsibility for his actions.
Look at Phx62’s entries. He simply reads candles and confirms with a cross of TDI. How much more simple can it be?
The reason you are conflicted is that you have not really tested X-man’s system. You can never execute his system until you prove to yourself it works. Any coaching or clarification he provides (which he does generously) will do no good until you truly create the belief on your own that this system works.
You will continue to have doubt, search for certainty, and clutter your mind with indecision until you invest the time studying. Be as enthusiastic and diligent about doing the work as you are about placing trades and your results will change dramatically.
The market does not beat us; we beat ourselves – unless we are prepared to attack. Anything less is than total preparation and commitment is just hoping and wishing.
All the best.
dcginc
www.protradernetwork.com
  • #4,624
  • Feb 15, 2012 6:11am Feb 15, 2012 6:11am
still sitting on the short
  • #4,625
  • Feb 15, 2012 6:13am Feb 15, 2012 6:13am
Quoting dcginc

... not over-analyze, accepts risk and takes responsibility ...
Like This...!
  • #4,626
  • Feb 15, 2012 6:24am Feb 15, 2012 6:24am
Quoting Con
still sitting on the short
H4 close quite nice, has momentum to continue. Only 1.3140 to overcome now.
On D1, also looks good. The flow is down, so if today' high is already made, then we should break yesterday low and make a day range of 126pips.
Just sit out the hourly noise for a while till FOMC at 3am sg time.

It is all about trade management now.
No time to fear!
No need for Greed!
Just do it the discipline way.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #4,627
  • Feb 15, 2012 6:31am Feb 15, 2012 6:31am
There's the 3 strikes, bounce off Pivot 3 times, what do you now? I no what i will do, i will sit out till later for the long ones and scalp the short
up and down movements.

Good Luck
  • #4,628
  • Feb 15, 2012 6:32am Feb 15, 2012 6:32am
price keep bouncing off the pivot
  • #4,629
  • Feb 15, 2012 6:41am Feb 15, 2012 6:41am
The great transformation was now every time I placed a trade I expected it to be profitable – my back testing stats proved the odds were in my favor.
That is ultimately where your mind must be. It will never be there until you develop the belief in your trading system by proving it will produce a profit over time.
Every time you turn they key in your car, you expect it to start. Why? Because historically it has proven time and time again that it will. When it does not, you are surprised. But, you know with a high degree of confidence that with some regular maintenance, it will continue to start over and over again.


Nice one dcginc!
Thoughts are things
  • #4,630
  • Feb 15, 2012 6:41am Feb 15, 2012 6:41am
Quoting CodeMonster
X-Man,

Are you still in it to win it on your short trade?
Yes im still holding this baby short. currently about 15 pips in the green.
Right now PA sitting directly onto the daily pivot, i will wait and see how it goes.
X-man the legendary conqueror of markets
  • #4,631
  • Feb 15, 2012 6:49am Feb 15, 2012 6:49am
Quoting cajun
There's the 3 strikes, bounce off Pivot 3 times, what do you now?
I will stay in for now. The main trend is down, NY is going to open and in 30 mins we have news.
So there will be moves, hopefully in my direction
Thoughts are things
  • #4,632
  • Feb 15, 2012 6:53am Feb 15, 2012 6:53am
EU:their she goes ......down town
  • #4,633
  • Feb 15, 2012 6:57am Feb 15, 2012 6:57am
Quoting mikelee
Move my SL to BE... "Free Ride"...
When for my dinner got taken out by my BE stop loss move... ah well this is part of trading will look out for other opportunities... may be the opening of NY session...
  • #4,634
  • Feb 15, 2012 6:59am Feb 15, 2012 6:59am
Quoting X-Man

I would like all traders to post their winners and losers coz that would be the best to learn from mistakes
Ok For the record, sorry no charts, I will do those in the future. this is off my Demo Account, as I am still learning this system.

10 Feb EU (Short) - (4H Swing) +45 pips
10 Feb AJ (Short) - (4H swing) +36 pips
13 Feb UJ (Short) - (4H swing) -17 pips
14 Feb EJ (Long) - (4H swing) +38 pips
14 Feb EU (Long) - (1H S3) -34 pips (my error, was watching my Live account where I took 21 pips)
14 Feb EU (Short) - (1H S3) +22 pips
15 Feb AU (Long) (4H Swing) +16 pips (experiment with a trailing stop of only 15 pips)

Total so far +106 pips = 7 trades, 5 winners = 71% win rate.. not bad for a beginner!
"It always seems impossible until it is done" Nelson Mandela
  • #4,635
  • Feb 15, 2012 6:59am Feb 15, 2012 6:59am
Quoting dcginc
Traders,
May I suggest some of you spend some more time studying Heiken Ashi Candles and Basic Market Structure.
Also, print X-Man's rules for this system and read them 3 times before you sit down to trade. It is clear by the number of questions regarding entries and price action that you have not adequately prepared to address the market.
Notice how X-Man "attacks" the market. He is ready, calm and confident.
[size=3][font=Calibri]Also...
Like
X-man the legendary conqueror of markets
  • #4,636
  • Feb 15, 2012 7:10am Feb 15, 2012 7:10am
Finally liquidated out of my eur/dol position for a 30 pip gain.
Slow session (churning) and at 6:05 a.m. it was time to
liquidate out. Liquidated out at bottom of support line

snarlyjack
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  • #4,637
  • Feb 15, 2012 7:12am Feb 15, 2012 7:12am
Quoting Rhino101

Total so far +106 pips = 7 trades, 5 winners = 71% win rate.. not bad for a beginner!
hi rhino, may i ask if you consider the main trend or you just follow the rules from page 1 ( TDI crosses + candle change/pullbacks ) coz i've seen moments when TDI crosses fail when you trade against the trend. btw 71% is amazing dude, im still trying to learn myself. well done!
  • #4,638
  • Feb 15, 2012 7:14am Feb 15, 2012 7:14am
Just hit my +50 pip TP from LO entry.....5+ hr trade with 2 retracements back to the 200 EMA......but patience paid off!!!
  • #4,639
  • Feb 15, 2012 7:18am Feb 15, 2012 7:18am
Quoting emmanuel7788
H4 close quite nice, has momentum to continue. Only 1.3140 to overcome now.
On D1, also looks good. The flow is down, so if today' high is already made, then we should break yesterday low and make a day range of 126pips.
Just sit out the hourly noise for a while till FOMC at 3am sg time.

It is all about trade management now.
No time to fear!
No need for Greed!
Just do it the discipline way.

Yesterday low broken!
Now try push TP down to Fibo-e 138% 1.3027..
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #4,640
  • Feb 15, 2012 7:19am Feb 15, 2012 7:19am
have just made 40pips. +80pips today. the good news is , it is NOT by luck. I made sure all rules were obeyed, used fibo, entered my trade, set 35-40 pips tp and sl then walk away. I had to use walk away method cause last week i lost my pips due to indecision regarding whether it was a pull back or not.entry exiting entry exiting in a short duration(which i did made back my pips when i finally got fed up and made up my mind) Just gotta have faith on those pull back candles and tdi cross , especially when it is on a strong support line.

now, i just need to keep repeating and work out more on touching up my entry and exiting skills. im still too chicken-ed to set high take profits.
I've tried other systems, but have never made such a huge amount of pips. That is when I figured, the trick to become successful in forex is not how fancy your system is, but to know how to manage your TP and SL properly.

I still have a lot to learn but what im seeing encourage me to keep on learning and I hope others will not give up( me too). Many thanks to x man for answering all questions which I learnt a lot from, emmanuel who asked me to read babypips till graduation, and also phx,dcgnic and many others. Keep this thread alive! One day, when I have made enough money to buy plane tickets, i will personally visit you guys to thank one by one.

ok enough of blabbering. should have extended my tp. ugh. . will just wait for retracements. happy pippin
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