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  • #5,801
  • Feb 29, 2012 11:32am Feb 29, 2012 11:32am
Quoting jamauqui
No sorry, I am talking about how many retraced against the market, I know that the maximum lost was 16 the first time and then 8 during blue candle. But before blue candle, the pair move in your direction about 40pips then it retraced 45pips which was the blue candle. Should I move my SL to BE?
Well i dont worry about how many retraced the market i worry about how many retraces against me. the market will always retrace . the will be small retracements where traders lock in profits etc. and the will be larger retracements

I still stood my ground even thou i seen that retracement
X-man the legendary conqueror of markets
  • #5,802
  • Feb 29, 2012 11:44am Feb 29, 2012 11:44am
Quoting jamauqui
No sorry, I am talking about how many retraced against the market, I know that the maximum lost was 16 the first time and then 8 during blue candle. But before blue candle, the pair move in your direction about 40pips then it retraced 45pips which was the blue candle. Should I move my SL to BE?
I might b able to asker your Q!! If you look the setup to sell this morning was very high probability, we had a double top, engulfing red candle and divergence which for me was very strong!! I normally put my stops to BE after 30 pips but as x-man said the market was very volitle because of news... For me my stops where 20pips at high of the day I willing to risk that for a nice breakout downward if I lose that's fine it's part of trading plan!!! It brokeout and I got a nice 120pips for a 20pips risk hope that helped
  • #5,803
  • Feb 29, 2012 12:00pm Feb 29, 2012 12:00pm
Quoting X-Man
[color=Blue][size=3]Yip i agree

the trick to forex is to look for the most basic analysis.
dont ever analyze your charts in a complex way.
always use the simplest tools.

why do i say this?
because you must try to see what the world (majority of traders) is looking at.

When i opened my chart that divegance and double top was clear as day. from there you tell me which trader didnt see that on E/U.
I garantee that any trader that knew forex basics would see that setup.

Orders move the market so people will add on shorts.
This is the...
Please X-Man, can you show the divergance in the chart? I fail to see it Thank you Best regards vcary
  • #5,804
  • Feb 29, 2012 12:19pm Feb 29, 2012 12:19pm
Quoting vcary
Please X-Man, can you show the divergance in the chart? I fail to see it Thank you Best regards vcary
here you go
Attached Image (click to enlarge)
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X-man the legendary conqueror of markets
  • #5,805
  • Feb 29, 2012 1:20pm Feb 29, 2012 1:20pm
Quoting X-Man
here you go
Thank you very much, X-Man!

Best regards
  • #5,806
  • Feb 29, 2012 1:53pm Feb 29, 2012 1:53pm
Quoting josh11
I might b able to asker your Q!! If you look the setup to sell this morning was very high probability, we had a double top, engulfing red candle and divergence which for me was very strong!! I normally put my stops to BE after 30 pips but as x-man said the market was very volitle because of news... For me my stops where 20pips at high of the day I willing to risk that for a nice breakout downward if I lose that's fine it's part of trading plan!!! It brokeout and I got a nice 120pips for a 20pips risk hope that helped
Thats true, i got it! Thanks a lot for the answer.
  • #5,807
  • Feb 29, 2012 2:29pm Feb 29, 2012 2:29pm
Quoting jamauqui
Thats true, i got it! Thanks a lot for the answer.
Anytime
  • #5,808
  • Feb 29, 2012 3:06pm Feb 29, 2012 3:06pm
Quoting X-Man
[color=Blue][size=3]Yip i agree

the trick to forex is to look for the most basic analysis.
dont ever analyze your charts in a complex way.
always use the simplest tools.

why do i say this?
because you must try to see what the world (majority of traders) is looking at.

When i opened my chart that divegance and double top was clear as day. from there you tell me which trader didnt see that on E/U.
I garantee that any trader that knew forex basics would see that setup.

Orders move the market so people will add on shorts.
This is the...
Ja ....in the beginning my chrtas looked like spaghetti ...just a total contradiction of ideas . Your system and charts are simple and you see it time and again with successful traders ...SIMPLICITY is key .
  • #5,809
  • Feb 29, 2012 3:45pm Feb 29, 2012 3:45pm
First of all i want to thank you, X-Men and all the other great traders here especially phx62, dcing.. etc.. (too many of them to post every name here ) for sharing their knowledge and experience!.. u guys are really great ... thank you ..

I was visting this thread quite often in order to find my own "trading style" which i think, will be adapted version of x-mens great 3S system. I was already reading every post from Big E ( Hope that he is getting well soon!!) for over 6 Months (started with Forex just 6 months ago, still demo) and i hope that i can.. with your help start trading live soon ...

Btw. I am from south germany (near Munich)... maybe some fellow germans here ?

2nd Btw.. X-Men if you ever decide to spent some days in germany during your world tour, it would be a great honor for to show you bavaria .. especially during the Octoberfest its very very nice here!...

Take care guys, and please keep on supporting us n00b. We really need your help in become a valuable player in the forex world without loosing too much money to the big players :-)

Thank you !!
  • #5,810
  • Feb 29, 2012 4:00pm Feb 29, 2012 4:00pm
Hello Phx62,

my 2nd post here and its a question due to your great trading success . I have uploaded a chart-pic from you, which you have posted earlier in this thread.

Questions:
1. Are you using a Asian session break out here or just a HH or LL of previous candles ? (if yes, how many candles do you count?)

2. I have read, in one of your posting earlier that u are already getting in while the candle is forming.. do you use the TDI for ACK ?
a) If yes, do you use a special kind of reatime TDI cuz the normal version of TDI only forms on the start of a new candle.
b) how do you go sure, that the candle will not form to a pullback?.. I have often traded breakouts like you, but often they formed to a pullback and my SL was hit.

3. On Trade No. 2. and 3. you took a countertrade right afterwards... But not in Trade no. 1. cuz no significant Pullback was formed after the Trend, right?

As far as i can see, you are using mainly PA using basics of Support and Resistance. TDI is just for confirmation, right? Are you also using the STOC (as BIG E's TMS) for TDI confirmation?

Thank you very much for your answers!!
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  • #5,811
  • Feb 29, 2012 4:50pm Feb 29, 2012 4:50pm
What do you guys think of shorting the E/U off the daily chart?
1. Good strong cross of TDI & great slope
2. It is the start of the 2nd down candle
3. Very solid resistance at 3485 (couldn't break it last 4 days)
4. It broke 3380 support

Let me know what you guys think & thanks in advance.
Attached Image (click to enlarge)
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  • #5,812
  • Feb 29, 2012 5:08pm Feb 29, 2012 5:08pm
Hey gang,

First a big thanks to X-Man and all the thread contributors!

Trying to better hone my understanding of the rules and charts of this system (specifically 4H swing), as I look at the EUR/AUD right now.

Is this shaping up for a potential entry on Long, assuming green crosses red and we get a blue candle or 2? It seems to be resting on a previous resistance line. Thanks for any insight!

Lan


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  • #5,813
  • Feb 29, 2012 5:57pm Feb 29, 2012 5:57pm
Quoting Lancaster
Hey gang,

First a big thanks to X-Man and all the thread contributors!

Trying to better hone my understanding of the rules and charts of this system (specifically 4H swing), as I look at the EUR/AUD right now.

Is this shaping up for a potential entry on Long, assuming green crosses red and we get a blue candle or 2? It seems to be resting on a previous resistance line. Thanks for any insight!

Lan


...
Hi Lan,

Good that you're looking at this pair now. Very good pair to trade recently. This pair came out of a all time low.
Looking at a clean naked chart, there is still selling pressure. I don't see a strong base for long on H4 yet. To me there was profit taking in the last 2 days at fib-r 50% and also since it is month end.
It would take very strong buyers interest to trun this upwards at this price level.
Looking at the market structure, there is no failure yet to a reversal.
Take a look at the month end close candle.

The recent weeks highs may provide a good trendline support.

Keep close tab on this one. I see a good trade coming up.
Attached Image (click to enlarge)
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #5,814
  • Feb 29, 2012 6:10pm Feb 29, 2012 6:10pm
Quoting Sender
Hello Phx62,

my 2nd post here and its a question due to your great trading success . I have uploaded a chart-pic from you, which you have posted earlier in this thread.

Questions:
1. Are you using a Asian session break out here or just a HH or LL of previous candles ? (if yes, how many candles do you count?)

2. I have read, in one of your posting earlier that u are already getting in while the candle is forming.. do you use the TDI for ACK ?
a) If yes, do you use a special kind of reatime TDI cuz the normal version of TDI only forms on the...
Q1. I usually only trade the London session on EU H1. I get my computer just before LO and if a trade presents itself with the proper setup, I take it. In this case I did wait until the entry candle had moved past the high of the Asian session but the trade was based on Price Action and a cross of the TDI. The previous 5 candles were very small candles....almost doji's...so I did not count them for entering on the second candle after color change (see Big E's posts).
Q2. Per Big E, we should enter trades on the first or second candle of a color change. That has worked well for me. The BE trade met that criteria. I exited because price was changing direction. The second trade of that day was entered because of price action had created a long upper wick and a pullback candle was forming. a.) The TDI that I use is not realtime...the crosses occur at the top of each hour. b.) There is no way to be 100% sure any trade will work out. You must study and backtest and gain experience and an understanding of how the pair you are trading normally reacts at different times and in different situations. Once you get that, create a trading plan that will give you an edge when you apply what you have learned or as X-Man has said....you must develop that 6th sense and the confidence and belief in the system you decide to use.
Q3. Trade 1 trended up more than 130 pips during the London session....very seldom will the market reverse and go a significant distance in the opposite direction following a move like that, unless there is some news or other force that causes a stong retracement. Plus the London session was ending when I exited the trade. Seldom do I enter a trade during the NY session, unless the London has been ranging. On trades 2 & 3, there were significant crosses of the TDI, still during the London session, with the cross for trade 3 beginning at the 32 line of the TDI.

Yes, I look primarily at PA and now use the TDI for confirmation on my analisys. That is the main difference between what Big E taught and what X-Man has developed. I do not use the Stochastics on the H1 time frame. I do still have them on my M15 chart for times that I scalp the market for a few pips.
Regards and success to you.....
  • #5,815
  • Feb 29, 2012 6:12pm Feb 29, 2012 6:12pm
Emmanuel thanks a ton for the analysis

I'm not fully skilled at looking 'through' the indicators, so I think starting with naked charts are an excellent idea. You have great points that I didn't think about!

Will definitely watch this one, and again, thanks for your thoughts

Lan
  • #5,816
  • Feb 29, 2012 6:15pm Feb 29, 2012 6:15pm
Quoting Phx62
Q1. I usually only trade the London session on EU H1. I get my computer just before LO and if a trade presents itself with the proper setup, I take it. In this case I did wait until the entry candle had moved past the high of the Asian session but the trade was based on Price Action and a cross of the TDI. The previous 5 candles were very small candles....almost doji's...so I did not count them for entering on the second candle after color change (see Big E's posts).
Q2. Per Big E, we should enter trades on the first or second candle of a color...
Thank you very much for your prompt reply!
  • #5,817
  • Feb 29, 2012 6:17pm Feb 29, 2012 6:17pm
Quoting Flatrader
What do you guys think of shorting the E/U off the daily chart?
1. Good strong cross of TDI & great slope
2. It is the start of the 2nd down candle
3. Very solid resistance at 3485 (couldn't break it last 4 days)
4. It broke 3380 support

Let me know what you guys think & thanks in advance.
Hi,
well, same thoughts like you looking at TDi and recent S&R.
I also think of shorting EU this new month.

I'll look for a good entry and 2 exits.
what is a good EP?
where will be my logical first exit? initial SL
where is the potential second exit? final TP.
If that give a RR according to my business trade plan, then I just do it.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #5,818
  • Feb 29, 2012 6:19pm Feb 29, 2012 6:19pm
Would this be one worth keeping our eye on for a reversal?
Attached Image (click to enlarge)
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  • #5,819
  • Feb 29, 2012 6:20pm Feb 29, 2012 6:20pm
Quoting emmanuel7788
Hi,
well, same thoughts like you looking at TDi and recent S&R.
I also think of shorting EU this new month.

I'll look for a good entry and 2 exits.
what is a good EP?
where will be my logical first exit? initial SL
where is the potential second exit? final TP.
If that giove a RR according to my business trade plan, then I just do it.

regards,
Thank you very much for your response. I really appreciate it.
  • #5,820
  • Feb 29, 2012 8:45pm Feb 29, 2012 8:45pm
Just a quick thanks to Xman and Eelfranz (and everyone else posting) for this discussion. I trialed the 4 hour system on live using mini lots for the last 7 days. Results were pretty good, 20 losses avg -20 pips and 50 wins avg 40 pips. 1400 pips all up.
I admit I got lazy and just took profits and closed off trades whenever I got tired of them, I know I need a bit of improvement with exits and patience. Going back over the charts *if* I took profits using other methods (than random boredom) there should be around double the pips.
Thanks again for sharing your knowledge and for posting in this thread.
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