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  • #4,801
  • Feb 16, 2012 11:16am Feb 16, 2012 11:16am
Rim47,

The day time panel (market panel) was posted 6-8 pages ago.
It's pretty nice, I like it. The other indicator (delta) is the
supply/demand indicator (11supdem) for that one you'll
have to look in the paper clip on page one (I like that one also).

The other indicator is the cci 20 (typical, hlc/3). Not sure what
I think of the cci 20 but I was just watching it. My main #1
indicator is the TDI.

I'am mostly a TDI indicator trader. The more I trade with the TDI
and really learn it the more I like it!

snarlyjack
  • #4,802
  • Feb 16, 2012 11:17am Feb 16, 2012 11:17am
Had a great day today, made around 70pips in total

Patience was key today.
  • #4,803
  • Feb 16, 2012 11:24am Feb 16, 2012 11:24am
Quoting snarlyjack
Rim47,

The day time panel (market panel) was posted 6-8 pages ago.
It's pretty nice, I like it. The other indicator (delta) is the
supply/demand indicator (11supdem) for that one you'll
have to look in the paper clip on page one (I like that one also).

The other indicator is the cci 20 (typical, hlc/3). Not sure what
I think of the cci 20 but I was just watching it. My main #1
indicator is the TDI.

I'am mostly a TDI indicator trader. The more I trade with the TDI
and really learn it the more I like it!

snarlyjack
Hi snarlyjack,
You use TDI Big E style or Dean Malone style?
  • #4,804
  • Feb 16, 2012 11:27am Feb 16, 2012 11:27am
Thank you for pointing me to the indicators. I have used the CCI for years, with great success but have it set at 14 periods. I don't use it with the standard settings I create a channel but that is a different tool and not for this thread. The S3 and all its origins (Big E and Dean Malone) are clean and easy to use for all traders especially if your goals are realistic.

Until looking at your chart I had not observed how similar the CCI is to the RSI price line in the TDI, they almost mirror each other.
  • #4,805
  • Feb 16, 2012 11:38am Feb 16, 2012 11:38am
Sarmatius,

I use the TDI mostly how Eelfranz & X-Man teach.

I have studied "Synergy, Dean Malone" but it will
get you into the set-up to late. How X-Man teaches
is a better method, imho.

X-Man is teaching a great system and he is a very good teacher
(much better than me). I have listened to everything X-Man
is teaching and agree with him 100%. I'am impressed with
his teaching method. Remember that it takes awhile to
learn the system and forex and eur/dol.

The other secret to this is: take your time to learn it
and give yourself a chance to succeed...

snarlyjack
  • #4,806
  • Feb 16, 2012 11:49am Feb 16, 2012 11:49am
Quoting X-Man
No im not following that scheme.
I will only increase my lot size if it allows me to only risk 3% and below of my capital per trade.

Currently I am allowed to trade 2 to 3 standard lots which i will start in the month of march.
Hi Xman, just wondering why you mention that you are only allowed to trade 2 to 3 standard lots.

I thought if you were risking e.g. 3 % of your captial per trade the lot size would vary based on your stop loss distance for the particular trade you are entering.

Can you please explain further?

thanks.
  • #4,807
  • Feb 16, 2012 12:52pm Feb 16, 2012 12:52pm
I'm also out for today.

+75 EURUSD
+36 AUDUSD
+111 Today

+292 for the week.

Wish my AUDUSD position went on for longer but hit my 30 pip jumping stop. May consider only using BE and and forget trailing stops.

Thanks to you X-Man for an amazing trading system!

Attached Images
  • #4,808
  • Feb 16, 2012 12:53pm Feb 16, 2012 12:53pm
Quoting IenDzi
Wow, you'll be a millionaire soon, greetings.
How much balance did you begin trading with?
IMO i would recommend that a trader should start off with $5000 to $10000 because he must be able to give his account that breathing room to trade comfortably

LOL so thats a clue to what i started with
X-man the legendary conqueror of markets
  • #4,809
  • Feb 16, 2012 12:56pm Feb 16, 2012 12:56pm
Quoting Vantage
Last time I was trading when a central bank head was speaking I got out -200 pips (never did like Trichet after that) so when these guys are speaking I'm out. Worked out nicely, fortune favours the brave it seems.
Dcginc gives me tips on how to trade with ice in your veins. lol
Im a stone cold trader
X-man the legendary conqueror of markets
  • #4,810
  • Feb 16, 2012 1:11pm Feb 16, 2012 1:11pm
Quoting jasonnevis
Hi Xman, just wondering why you mention that you are only allowed to trade 2 to 3 standard lots.

I thought if you were risking e.g. 3 % of your captial per trade the lot size would vary based on your stop loss distance for the particular trade you are entering.

Can you please explain further?

thanks.
Well its very easy , i calculate my 3% risk and base it on a standard 50 pips SL. So if i trade the 1H with 30 pips that means my risk will be lower than 3% which is excellent and if i trade the 4H i half the lot size coz the SL can go up to 100pips.

For example if you have $50 000 and you calc your risk (50 000 x 3%) = $ 1 500 per trade.
Now you want to determine the lot size for 50 pips.
$1500/50pips = 30 (3 standard lots)

So now i know that if I have $50 000 I can trade 3 standard lots risking 3%
X-man the legendary conqueror of markets
  • #4,811
  • Feb 16, 2012 2:03pm Feb 16, 2012 2:03pm
Ok for tutorial purposes only..

Screen Shot 1 shows how easy one can get into trouble by not following the rules and "Jumping the gun". So I thought on the previous bar.... No Trade on London open as there was no reversal. Next thing the reversal (expected by me) happened.. nice TDI cross colour change, looks good. So looking at the TDI line angle.. (Nice 1 o'clock). Thought I would jump in early and not wait for 2nd candle..

Next screen shot shows what happened, stopping me out at -27 pips (I am sometime not able to be at my screen all the time, so use "Set and Forget" SL and TP).

Next time I waited for 2nd candle to almost close and went long, with a nice recovery trade of 52 pips. I closed my trade because I saw the TDI tick and there was also some resistance at this level. Also price action broke the 60ema.
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"It always seems impossible until it is done" Nelson Mandela
  • #4,812
  • Feb 16, 2012 2:17pm Feb 16, 2012 2:17pm
When I got to my computer to trade the LO and watched PA for a while:
1. I found that the Asian session had already moved down over 100 pips. 2. PA was sitting right on the 1.300 line and consolidating.
3. There was no cross of the TDI yet.
Based on that information I opted not to enter a trade and went back to bed. This morning I was able to catch the long trade after it pulled back up through the 1.300 and the TDI crossed over. This happened just before I left for work and I just closed that trade at the 200 EMA line for +136 pips. A very good day.
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  • #4,813
  • Feb 16, 2012 2:27pm Feb 16, 2012 2:27pm
Quoting X-Man
The reason i choose 50% retracement is if you look to your left you will see resistance at 1.30774 and the daily pivot is just above there so PA might go there.
If it dont then i know i still have my 40 pips safe.
This is the simplest system I ve seen so far. Thanks 4 sharing it. Pls can u explain the quote. I used support and resistance i downloaded here I could not get that res at 1.30774. How do u get 50% retratracement too?
Thanks!
  • #4,814
  • Feb 16, 2012 2:34pm Feb 16, 2012 2:34pm
Quoting robthorp
To those who went long,
What signal did you guys take? just to help me to look out for it next time?
I.e range breakout or pullback etc
Thanks
1. A break back above the 1.3000 line.
2. A cross of the TDI green over red.
3. Also a cross of TDI green over yellow.
4. The setup candle had very long wicks and a small body.
5. A break of the high of the red setup candle by the first blue candle.
6. The TDI moving up from the 32 line.
  • #4,815
  • Feb 16, 2012 2:46pm Feb 16, 2012 2:46pm
Quoting X-Man
Well its very easy , i calculate my 3% risk and base it on a standard 50 pips SL. So if i trade the 1H with 30 pips that means my risk will be lower than 3% which is excellent and if i trade the 4H i half the lot size coz the SL can go up to 100pips.

For example if you have $50 000 and you calc your risk (50 000 x 3%) = $ 1 500 per trade.
Now you want to determine the lot size for 50 pips.
[size=3][color=blue]$1500/50pips...
Thanks, that makes perfect sense. I was wondering why you said upto 3% risk. Not a constant 3% risk per trade.

Any reason why you don't adjust the contract size based on stop loss size from setup swing high or low so that it is a fixed 3 % per trade? Or is this just your method you have stuck with till now.
  • #4,816
  • Feb 16, 2012 3:12pm Feb 16, 2012 3:12pm
Quoting X-Man
The reason i choose 50% retracement is if you look to your left you will see resistance at 1.30774 and the daily pivot is just above there so PA might go there.
If it dont then i know i still have my 40 pips safe.
I m very very sorry for these questions they may sound elementary but I m still having challenges with them over the years. These are the questions:

1. I live in Nigeria, our time is GMT+1, can you pls help me out based on ou time when each of the sesions starts and ends-Asian, London and US?

2. Have the rules for the S3 EURUSD on 1hour changed? May be I did not know the prper timing related to my location.

3. How can I manually and corectly draw support and resistance? I have been taught diffrent ways but none of them works based on your analysis today.

4. How to I draw fib correctly? Is 50% retracement an idea take profit level?

I ll be glad if you can answer my questions however foolish they may be. Hope to hear from you soonest!

Thanks!
  • #4,817
  • Edited 3:40pm Feb 16, 2012 3:29pm | Edited 3:40pm
Phx62,

when would you look to enter a continuation move. Because sometimes the TDI has already crossed and price can break mini support and resistance areas to continue down.

For example, I was thinking this trade would have been valid since price broke the low created by the three small candles prior to the entry candle with the red arrow. We had TDI cross as well. I possibly would have taken the trade had I been awake at that time.

the trouble I have reading PA is that sometimes price can continue to drift in one direction slowly then suddenly blip violently in that same direction or opposite direction.
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  • #4,818
  • Feb 16, 2012 3:52pm Feb 16, 2012 3:52pm
[quote=X-Man;5392672]Well its very easy , i calculate my 3% risk . . .quote]

Wow; thanks. That's the first time anybody has explained that clearly enough that I can understand it. Now when my account size changes I won't have to ask my husband how many lots I can trade, I can figure it out myself. So there!
My favorite crochet hook is size J. It's a J-Hook!
  • #4,819
  • Edited 4:21pm Feb 16, 2012 3:59pm | Edited 4:21pm
Quoting hale-mary
Phx62,

when would you look to enter a continuation move. Because sometimes the TDI has already crossed and price can break mini support and resistance areas to continue down.

For example, I was thinking this trade would have been valid since price broke the low created by the three small candles prior to the entry candle with the red arrow. We had TDI cross as well. I possibly would have taken the trade had I been awake at that time.

the trouble I have reading PA is that sometimes price can continue to drift in one direction slowly then suddenly...
Consolidation candles indicate that PA is hesitating....the bears are closing trades and/or the bulls are looking to reverse the trend. You have to look for reasons why the consolidation is occurring....news, a long move without a retracement, resistance areas, etc. In the example you gave, PA had already moved down more than 200 pips from the LO yesterday, without a retracement, which creates concern about where it goes from here...the market moves in waves and somewhere there will be a retracement. I would not enter a short following that 200 pip move down until I got serious confirmation that the trend would continue...in fact, I was looking for a reversal for the reasons I stated in my post, which we got.
  • #4,820
  • Feb 16, 2012 4:21pm Feb 16, 2012 4:21pm
Quoting hale-mary
Phx62,

when would you look to enter a continuation move. Because sometimes the TDI has already crossed and price can break mini support and resistance areas to continue down.

For example, I was thinking this trade would have been valid since price broke the low created by the three small candles prior to the entry candle with the red arrow. We had TDI cross as well. I possibly would have taken the trade had I been awake at that time.

the trouble I have reading PA is that sometimes price can continue to drift in one direction slowly then...
a simple rule here for me here is to ignore any bearish TDI cross below 32... because when price still wants to go down after a huge rally TDI usually first makes a clear move over 32 before going down again which did not happen here ...

just my 2 pips
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