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  • #5,661
  • Feb 28, 2012 8:41am Feb 28, 2012 8:41am
Quoting Phx62
The 50 pip SL that I use is basically an EMERGENCY SL. I consider all the "obstacles", as well and if I am not going to monitor the trade, I will adjust the SL according to what I see. I try to get into the trades at least 20 or 30 pips before making a change to the SL and/or TP.
O.K., I understand, thanks for answering. Sometimes i will also move my SL when i think i will not be around for a while, thanks.
  • #5,662
  • Feb 28, 2012 8:55am Feb 28, 2012 8:55am
Trading is like hunting. No hunter can win all the times. Every day will be different. You should be thorough about the behaviour of prey. You have to wait for best time and pull the trigger. If the arrow misses the target then you have to wait for next prey and can't shoot on the trees.

Only 2 arrows (SL) for the day.... If you win you can take the meat to home and have party. If u loose u have to go hungry and wait for next day....

For the past one year I am shooting my arrows in all directions and going to home empty handed.

Thanks to the great pip hunters Big E and X-man for teaching this method and techniques.
  • #5,663
  • Feb 28, 2012 9:07am Feb 28, 2012 9:07am
Quoting Strategy_xy
Actually I was not referring to you, it was coincidence that you posted shortly before my post.

Itīs also not the level of the English language, I meant the questions that some people are posting here...

I just do not want this thread to turn down like many other good threads before...
there's no problem,
there's sometimes so many questions, about how to interpret the present situation that sometimes i'm ( but I think that's i'm not the only one) lost.
And as everyone who read this thread have understand that is not the Tdi but the PA who makes the major job, i would to understand , how X man , Phx, and others experienced traders read it on live. I watched videos on the compass site, and read a lot of articles, but it's seams there's still something that make me take the wrong decision ( of course experiance, but perhaps some details that i pass next to )

And finally the charts give me the answer to my question, that my analysis was wrong.
  • #5,664
  • Feb 28, 2012 9:16am Feb 28, 2012 9:16am
sell on bounce, close too early +14 pips
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  • #5,665
  • Feb 28, 2012 9:18am Feb 28, 2012 9:18am
Quoting imperatorfr
sell on bounce, close too early +14 pips
Picked up 30 pips on this same trade.
  • #5,666
  • Feb 28, 2012 9:46am Feb 28, 2012 9:46am
Quoting nnpra
Are you talking about EURUSD? My daily channel is up and is not that close to the channel...


here is my daily channel on h4.


lol i got lucky i guess. havent close my trade from LO . and hit my tp +50 then the price go up again
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  • #5,667
  • Feb 28, 2012 9:55am Feb 28, 2012 9:55am
can anyone point my mistake for today??

Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 40 KB


i see sign at candle before the arrow
i went long at the arrow.

from my point of view,

1. even i saw the cross to go long, but there is lack of momentum.
2. the price bounce at the daily resistance already, so it is very unlikely to go long ( can some one clarify this statement)

i also have few question,

the arrow candle is not pull back candle because of it have both long wick. That candle mean that the market don't know where to go. ( is this statement true?)

is there is any sign at the candle after the arrow that will show market went short? if there is, can i enter the trade at the 3rd candle at NY session?
  • #5,668
  • Feb 28, 2012 10:03am Feb 28, 2012 10:03am
Quoting capab
can anyone point my mistake for today??

Attachment

i see sign at candle before the arrow
i went long at the arrow.

from my point of view,

1. even i saw the cross to go long, but there is lack of momentum.
2. the price bounce at the daily resistance already, so it is very unlikely to go long ( can some one clarify this statement)

i also have few question,

the arrow candle is not pull back candle because of it have both long wick. That candle mean that the market don't know where to go. ( is this statement true?)

is...
i am a beginner as well. but i think the red candle is a setup candle(red arrow). well not exactly as the rule say regarding TDI cross (but in eelfranz thread say that you could re enter when the tdi bounce. i dont want to mix together with x-man thread. so i am not exactly sure in this point). and the bar after red arrow is your trade on short
  • #5,669
  • Feb 28, 2012 10:04am Feb 28, 2012 10:04am
Quoting jamauqui
hi Emmanuel,

Do you have the synergy APB indicator for Trading Station??, after checking the above site i couldn't find it...
Regards!

Hi Jamauqui,
sorry, I hvae not found a APB version on TS.
The is the heiken ashi HA in the standard indicators.
You can use that..

Regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #5,670
  • Feb 28, 2012 10:09am Feb 28, 2012 10:09am
here is my trade today. +50 pips. not sure if i were doing it right or i perhaps i got lucky
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  • #5,671
  • Edited 10:11am Feb 28, 2012 10:10am | Edited 10:11am
Quoting ljin
i am a beginner as well. but i think the red candle is a setup candle(red arrow). well not exactly as the rule say regarding TDI cross (but in eelfranz thread say that you could re enter when the tdi bounce. i dont want to mix together with x-man thread. so i am not exactly sure in this point). and the bar after red arrow is your trade on short
is there any sign that i should go short on the bar after the red arrow? what make the bar with the red arrow is the sign to go short? im worried about going against the current trend, because when i do back testing, if i go against the tread, it will cost me..
is there anything that i miss?

thank you for the reply =D
  • #5,672
  • Feb 28, 2012 10:58am Feb 28, 2012 10:58am
I keep hearing "momentum" being used, but i dont know what any of you guys are talking about? Are you talking about how fast a candle forms? follow through? because All I see are swings and s/r levels and trendlines. I dont get this momentum.
  • #5,673
  • Feb 28, 2012 11:09am Feb 28, 2012 11:09am
Quoting capab
can anyone point my mistake for today??

Attachment

i see sign at candle before the arrow
i went long at the arrow.

from my point of view,

1. even i saw the cross to go long, but there is lack of momentum.
2. the price bounce at the daily resistance already, so it is very unlikely to go long ( can some one clarify this statement)

i also have few question,

the arrow candle is not pull back candle because of it have both long wick. That candle mean that the market don't know where to go. ( is this statement true?)

is...
As I see it on my daily chart the price has a problem to pierce the 200 EMA acting as a resistance.So yeah going long right now is problematic.

Regarding E/U today the M15 TF was king in this ranging market.In the last 3 hours there were 2 trades to be taken on M15:
1 SHORT then 1 LONG for at least 15-20 pips each(lets say the short trade was visible on H1 too).

My problem is I dont take trades in lower than H1 timeframes.
  • #5,674
  • Feb 28, 2012 11:14am Feb 28, 2012 11:14am
hi guys,

keep seeing posters asking what a pullback candle looks like etc.

x-man and many others have explained several times, but found this video on Dean Malones site. somes it up for people who are still not sure. and shown using APB candles.

http://www.compassfx.com/video/flash/82411/82411.html

he trades with it slightly differently like X-man has explained but the important bit of me posting it is to show how to identify them for you!

(sorry if it has already been posted- read through first 160 and last 50 pages and have not seen it!)

all the best

Mark
  • #5,675
  • Feb 28, 2012 11:14am Feb 28, 2012 11:14am
I did not like the setups on EU during the London session and did not want to get in the middle of the battle between the bulls and the bears....I did make one "bounce trade" during NY, closing for +36 pips after price failed to reach the 50 pip TP and pulled back...
  • #5,676
  • Feb 28, 2012 11:43am Feb 28, 2012 11:43am
I want everyone to look at their charts right now.

look at the 15:00 GMT candle.

Notice that PA moved short but then retraced back.

Look at that lovely extra long wick on that candle.

THATS A PULLBACK CANDLE.

look at GU and USD/CHF notice the same pullback candle.

from all thos candles that formed in the london session that has the longest wick. It stands out like a sore thumb
i hope now traders now whats a pull back candle
X-man the legendary conqueror of markets
  • #5,677
  • Feb 28, 2012 11:51am Feb 28, 2012 11:51am
Quoting X-Man
I want everyone to look at their charts right now.

look at the 15:00 GMT candle.

Notice that PA moved short but then retraced back.

Look at that lovely extra long wick on that candle.

THATS A PULLBACK CANDLE.

look at GU and USD/CHF notice the same pullback candle.

from all thos candles that formed in the london session that has the longest wick. It stands out like a sore thumb
i hope now traders now whats a pull back candle
hmm sorry x-man. i might wrong but is not that the closing price still below the open price? in pdf you said that if prev candle is bearish, the price need to make a low then reverse and close above the open price right?
  • #5,678
  • Feb 28, 2012 11:57am Feb 28, 2012 11:57am
Quoting ljin
hmm sorry x-man. i might wrong but is not that the closing price still below the open price? in pdf you said that if prev candle is bearish, the price need to make a low then reverse and close above the open price right?
yes true but look at how close it is to the open so you consider it . measure the length of the wick and measure the length of the body.
These are perfect examples of pullbacks.

other traders see it as stop hunting etc.
X-man the legendary conqueror of markets
  • #5,679
  • Feb 28, 2012 12:07pm Feb 28, 2012 12:07pm
Quoting Phx62
I did not like the setups on EU during the London session and did not want to get in the middle of the battle between the bulls and the bears....I did make one "bounce trade" during NY, closing for +36 pips after price failed to reach the 50 pip TP and pulled back...
Phx62, please. I try to understand.Before the opening ofLondon,we had asmall pullback,and aftera return bullish.Then, the candleat the opening ofLondonbrokethe hight of the candle than two hoursbefore. Is itpossible to know whyyou have nottakea longthen?
Regards
vcary
  • #5,680
  • Feb 28, 2012 12:58pm Feb 28, 2012 12:58pm
Quoting X-Man
I want everyone to look at their charts right now.

look at the 15:00 GMT candle.

Notice that PA moved short but then retraced back.

Look at that lovely extra long wick on candle.

THATS A PULLBACK CANDLE.

look at GU and USD/CHF notice the same pullback candle.

from all thos candles that formed in the london session that has the longest wick. It stands out like a sore thumb
i hope now traders now whats a pull back candle
You're the man X-Man !!!
In GOD We TRUST !!! "REPETITION is the mother of all SKILLS." -Bo Sanchez
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