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X-Man's Super Simple System

  • #4,681
  • Edited 1:14pm Feb 15, 2012 12:52pm | Edited 1:14pm
Quoting thrax
I post 2 of my trades. The EURAUD was successfull with 85 pips profit. I entered short because of the failed up move and the prevailing downtrend.

My EURUSD trade was not so good... I entered long because of the returning green line after touching the blue one and a TDI cross, but in this trade my stop as hit. What did I miss with the second trade?

Thanks
There was and still is an overall downtrend.
TDI isn't oversold and still trending down.
TDI below the yellow MBL and below 50.
The price was below a downtrending 60 ema.

These are the things I spot at a glimpse, maybe there are other signs
  • #4,682
  • Feb 15, 2012 1:02pm Feb 15, 2012 1:02pm
Quoting riprider
EU:their she goes ......down town
  • #4,683
  • Edited 2:06pm Feb 15, 2012 1:14pm | Edited 2:06pm
Just woke up, and after looking at my charts I certainly have that spring in my step.

+50
Few things that I have noticed if you monitor your trade too much is:

1. Stressful
2. Boring
3. You over analyze the trade
4. Exit too early

If the entry is right and the distance between support or resistance is good. Just set a SL, TP and walk away. I have made more pips this way than when I monitor a trade.

This was a S3 text book trade in my opinion.

Thanks Xman, this system certainly works!
Attached Image
  • #4,684
  • Feb 15, 2012 1:37pm Feb 15, 2012 1:37pm
Quoting robbo1961
Hi,
did You backtest S3 system for 15M TF?
3S is 1H TF system, read page 1.

BTW pzdr z Oświęcimia.

Sure. But whole day spent at one chart is not very productive. H1 is the starting point, but Phx62 presented tons of M15 entries.

Kind regards,
M.
Remember I'm a newbie!
  • #4,685
  • Feb 15, 2012 1:57pm Feb 15, 2012 1:57pm
Quoting jasonnevis
Just woke up, and after looking at my charts I certainly have that string in my step.

+50
Few things that I have noticed if you monitor your trade too much is:

1. Stressful
2. Boring
3. You over analyze the trade
4. Exit too early

If the entry is right and the distance between support or resistance is good. Just set a SL, TP and walk away. I have made more pips this way than when I monitor a trade.

This was a S3 text book trade in my opinion.

Thanks Xman, this system certainly works!
Hi jasonnevis
Can you post or point me in the right direction of getting the sessions open indicator you use?
Thanks
  • #4,686
  • Feb 15, 2012 2:08pm Feb 15, 2012 2:08pm
Quoting moneyrunner
Hi jasonnevis
Can you post or point me in the right direction of getting the sessions open indicator you use?
Thanks
Here it is, just adjust it to your time zone. Here is a website to do it.

http://forex.timezoneconverter.com/
Attached File(s)
File Type: ex4 S3 - Xi-VLines20v1.02.ex4   13 KB | 492 downloads
  • #4,687
  • Feb 15, 2012 2:59pm Feb 15, 2012 2:59pm
Quoting mierzyk
Sure. But whole day spent at one chart is not very productive. H1 is the starting point, but Phx62 presented tons of M15 entries.

Kind regards,
M.
More than 95% of my trades are on the H1 time frame......M15 and M5 are only for quick scalps when everything lines up......per my experience, the money is on the H1 and H4 time frames.
  • #4,688
  • Feb 15, 2012 3:01pm Feb 15, 2012 3:01pm
I still have an old trendline in place, drawn on the 4h chart over the tops of 27 Jan + 1,2 and 3 February.

PA is exactly at this line now and bounced of the line a couple of times today and came back each time. Yesterday the 14th it already touched the line on 1900 GMT.

It's slowly walking down the line
  • #4,689
  • Feb 15, 2012 3:01pm Feb 15, 2012 3:01pm
Quoting Phx62
More than 95% of my trades are on the H1 time frame......M15 and M5 are only for quick scalps when everything lines up......per my experience, the money is on the H1 and H4 time frames.
Hello! Do you made a trade today?!
  • #4,690
  • Feb 15, 2012 3:41pm Feb 15, 2012 3:41pm
Hi,

I have been following this thread for a while and it is working for me, but when I set my TP1 (let’s say +50pips) how do you manage to set the TP2 if TP1 is achieved? Sometimes I don’t realize when my trade is closed In TP1 and the momentum is still in.

Thanks a lot for all of you guys.
  • #4,691
  • Feb 15, 2012 3:59pm Feb 15, 2012 3:59pm
Quoting Flaviu1981
Hello! Do you made a trade today?!
Post 4641
  • #4,692
  • Feb 15, 2012 4:13pm Feb 15, 2012 4:13pm
Quoting John2994
Hello amigos .
I am 17 years old student and i am checking every day your analysis from the beginning of this thread.Also i want you to show something that i notice.
The MA's 7 and 21 is a S/R as all know , if we divide the 21 with 7 we find the answer 3 and if we multiple 21 with 3 we got 63 that is very close to 60 that we have in our H4 chart also if we again multiple again 63 with 3 we go 189 that is close to 200 (also S/R MA).Finally what i want to say is maybe the right MA's is 63 , 189 and not 60 , 200.If i have something wrong or u dont...
Hi John,

Your observations with numbers are correct. I hope one day you will invent something which will contribute to benefit mankind.
For your further research and study, you may want to look at Fibonacci

http://en.wikipedia.org/wiki/Fibonacci_number

Good Luck young lad.

BTW, your written English is perfect.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #4,693
  • Feb 15, 2012 4:21pm Feb 15, 2012 4:21pm
Was my analysys incorrect to exit trade on serious TDI flat then hook over ?
I then camped the momentum to see PA bounce off 200 EMA again/ pullback candle, just to reenter the 4th candle with TDI bounce confirmation, for a nice profit.

Not looking for sympathy or anything but I felt much safer to do that.
Perhaps I trusted TDI too much to exit at -3 pips the first trade(first entry was short on LO candle)?

Thanks

PS
The exit was also in the 2. exit rule of S3 PDF.

"2. If you entered the break of Asian session and you see PA retracing back into the Asian range"
  • #4,694
  • Edited 4:53pm Feb 15, 2012 4:39pm | Edited 4:53pm
There are different methods to set you trade TPs. It vary in different market type.

Yesterday, I use fibo levels extension plus daily pivot levels as there was momentum in the down flow. Looking back to previous days lows did help me see those levels and I believe it will make a new day low on today(15Feb).
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD 15 Feb trade fibo targets 16-2-2012 6-25-25 AM.png Size: 36 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #4,695
  • Feb 15, 2012 5:22pm Feb 15, 2012 5:22pm
Quoting Quezoy
3 out of 3 this week.
A gain of 7.8%.

Details in my journal.

Hi Quezoy,
Well done. Good results.
Just stay focus in what you do here. Consistency is one of the key to become a succesful trader.
Look forward to your 100th trades and we can analyse that to see your performance - win rate and expectancy.

Good Trading and experience this journey.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #4,696
  • Feb 15, 2012 5:32pm Feb 15, 2012 5:32pm
Hi X-Man,

Before I post my very first question on your thread, I would like to thanks for your kindness of sharing this method. It's really suit my trading style. Appreciate that.

Referring to post #182, you said "As the second candle closed with a pull back i closed my short position", how do you identify that there is a pull back on that particular candle?'

Thanks!
  • #4,697
  • Feb 15, 2012 7:00pm Feb 15, 2012 7:00pm
Hi,
Asian markets always react to the overnight US market and post-FOMC sentiments.
I am protecting the downside of my trade held overnight. Move my protective stops along the PAC upper channel line. Use channeling technique to project the flow.
Also added new positions along the downflow last night, re-investing some of the profit taken in. All trades are protected and profitable.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD 16 Feb pushing TP 16-2-2012 8-44-49 AM.png Size: 100 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #4,698
  • Edited 8:13pm Feb 15, 2012 7:41pm | Edited 8:13pm
Quoting emmanuel7788
Hi,
Asian markets always react to the overnight US market and post-FOMC sentiments.
I am protecting the downside of my trade held overnight. Move my protective stops along the PAC upper channel line. Use channeling technique to project the flow.
Also added new positions along the downflow last night, re-investing some of the profit taken in. All trades are protected and profitable.
Interesting...Asian is normally choppy so I would like to know when it would be ideal to trade the asian session as London session tends to be choppy when it moves and our typical signals sometimes will not follow through (also who doesnt love more pips...lol)....thats what i need to get better at. Looking at old data when backtesting, that is a problem area for me. But it also might be due to the fact that i do not have a sense of what the market was feeling at that time.
  • #4,699
  • Feb 15, 2012 8:16pm Feb 15, 2012 8:16pm
Trader love those situations when price hit the area where he expect it and set the TP.

190 pips (cumulative) from today's setup
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 32 KB
Forex is boring but profitable with patience and discipline
  • #4,700
  • Feb 15, 2012 8:29pm Feb 15, 2012 8:29pm
Quoting prftablefool
Trader love those situations when price hit the area where he expect it and set the TP.

190 pips (cumulative) from today's setup

Congrats prftablefool!
Nice ride down.
Question: In a 150pips move (as example), how can traders multiply their pips with the same initial SL 'R' ... and get 250pips as profits?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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