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  • #5,821
  • Feb 29, 2012 10:33pm Feb 29, 2012 10:33pm
Quoting mc441
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...
WOW,well done .10 trades a day . which pairs did you trade ? and did you always wait for a tdi cross?
i'm trying to learn .
ROB
  • #5,822
  • Feb 29, 2012 10:40pm Feb 29, 2012 10:40pm
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
Please josh, where is the red candle wo is engulfed?

Best regards
vcary
  • #5,823
  • Feb 29, 2012 10:57pm Feb 29, 2012 10:57pm
Quoting robuk
WOW,well done .10 trades a day . which pairs did you trade ? and did you always wait for a tdi cross?
i'm trying to learn .
ROB
I think the only way to learn a system is to backtest it and trial it yourself. What works for one person might not work for another. I had very loose entry rules, just a cross.
This was just a test to see how I would go, I was running every pair + metals and was in front of the computer nearly every 4hr bar.
  • #5,824
  • Feb 29, 2012 11:17pm Feb 29, 2012 11:17pm
I just thought I would give you my take on what was a trying week.
And how it makes it more difficult depending on your Time Zone to make most of Opportunities. And yet the opportunities were there, we just tend to not see them till after the Event, I can still stay in front of the game by keeping things simple and using my Edge, and remember everyones edge is different!! But just using basic forex principles like Range Break outs, Break of Supp/Res can give you that Edge.
But keeping things simple is all I look for when using my Edge. I have PA, and ATRs, TDI, Supp/Res and an MA, I keep my Charts concise as you tend to over analyse each candle otherwise. This is where people tend to put their thoughts onto the thread as to where the next candle is going, when we havent a clue what its going to do. We just have to wait for our Set up and execute our Edge. My Edge is very visual, I look for Space, Hooks, Break out of Supp/Res, IB OB {Inside Bars Outside Bars} TDI and for Early Entry, X-Mans Reversal Candles.





Trade1 X-Mans Candle opened at Close. Space to the left as pointed out by arrow. [Space is depicted to the Arrows Left]. TDI Green Up. Notice previous blue candle was nearly Reversal but no space,see previous Red Candle wick.

Trade2 Not quite X-Mans Rev Candle Red Candle but look at other basic reasons, TDI Outer break, and Green pointing up. Bounce off 60MA and Supp area. Look at Next Blue Candle with Space, confirmed hook but thanks to X-Man I was able to Enter early. And Yes that next Blue candle was a reversal, and my stop was moved right below it. I expected to be stopped out but Supp seemed to stop downward pressure.

Trade3 One I did in Asian Session, Blue Candle off Supp with TDI touch Enter 5 pips above high but not taken. But next Candle one of my Favourite Set ups IB near supp with TDI Green up.

Trade 4 Same as 3 .No outer Touch of TDI but Green up. Notice IB is close to being good Rev Candle.

Trade 5 Hook, Space, Reversal, IB, TDI Green Up

Trade 6 Break out of Asian Range, Space, Green TDI up

Trade 7 Before LO, nice candle, Space, BUT notice TDI, Only Trade out of all up until then without TDI Green Conf. Simple really, to see it later as a dumb trade but I broke my rules. That TDI should of been a No Brainer visually on its Momentum down. Fortunately no great damage done.

Trade 8 Nearly perfect X-Man Reversal, plus Space, Me, I was asleep.

Didnt Trade Wed but TDI Angle should of given you at least a Heads Up.

All I am trying to point out to you newer traders that you dont have to Micro manage every Candle, or take every Pullback Candle as though its a Reversal Candle. Keep it simple, Scrunch your chart up a bit and see the bigger picture visually. I dont just follow X-Mans System, and I would imagine neither does Phx62, dgcinc, emmanuelle7788, or the other great traders, but they use X-Mans great Method in Conjunction with the Basics of Trading. Looking at Different TFs is as basic as it gets, yet people will enter a 1 hour position in the face of a large opposite 4hr or Daily Candle and wonder what happened when they get smashed. By utilising Knowledge gained, practising, and using their Edge for their individual,Trading Plans and using Sound Money Management Principles they show that success is expected not hoped for. And losses are just part of the process.

I implore you to keep trading simple, and make up your OWN Trading Plan based around X-Mans Method or you will keep surfing the Internet for the Forex Holy Grail that doesnt Exist, as this Method using PA, and TDI is the Simplest and if Learnt and Practised Properly can make your aspirations come true.

9 Years and Still Learning
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  • #5,825
  • Feb 29, 2012 11:33pm Feb 29, 2012 11:33pm
Quoting mc441
I think the only way to learn a system is to backtest it and trial it yourself. What works for one person might not work for another. I had very loose entry rules, just a cross.
This was just a test to see how I would go, I was running every pair + metals and was in front of the computer nearly every 4hr bar.
thanks for reply , i've been doing something similar based on x-man 4h and big e approach ,had some realy good days , and a few bad ones , i think it all starts to sink in to the brain after a while ,(osmosis )?
but i always wait for tdi cross , and try for conservative profit , so maybe , looking at your success , i should aim a bit higher .
  • #5,826
  • Feb 29, 2012 11:58pm Feb 29, 2012 11:58pm
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


...
if you look at the chart i would say that would be a good set up.
The reason is because PA hit the top of the daily channel.
Secondly is forming lower highs.
PA is curreclty trend down
X-man the legendary conqueror of markets
  • #5,827
  • Mar 1, 2012 12:16am Mar 1, 2012 12:16am
Quoting X-Man
if you look at the chart i would say that would be a good set up.
The reason is because PA hit the top of the daily channel.
Secondly is forming lower highs.
PA is curreclty trend down
Hello X-Man,
Please, do you think that after a big move like yesterday, for E-U, the PA remains generally calm the next day, or there are no rules of this sort?
Best regards
vcary
  • #5,828
  • Mar 1, 2012 12:17am Mar 1, 2012 12:17am
Quoting X-Man
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.

[size=3][color=blue]When i opened my chart that divegance and double top was clear as...
Brilliant boet

Can I vouch for you again ?

  • #5,829
  • Mar 1, 2012 12:23am Mar 1, 2012 12:23am
Quoting vcary
Hello X-Man,
Please, do you think that after a big move like yesterday, for E-U, the PA remains generally calm the next day, or there are no rules of this sort?
Best regards
vcary
After a big move like that i think that PA will be in a range today.
I took out my fibb from high to low and you see PA retraced to the 23.6% level currently bouncing off, maybe we will get a higher retracement , maybe it wont move from at all today or maybe continue down.

if you think about wave patterns then i would say that we would get a retracement today (2nd leg) forming a lower high after that PA will continue down on the 3rd leg
X-man the legendary conqueror of markets
  • #5,830
  • Mar 1, 2012 12:24am Mar 1, 2012 12:24am
Quoting matlobien
Brilliant boet

Can I vouch for you again ?

Hahaha anytime buddy
X-man the legendary conqueror of markets
  • #5,831
  • Mar 1, 2012 12:27am Mar 1, 2012 12:27am
Quoting X-Man
After a big move like that i think that PA will be in a range today.
I took out my fibb from high to low and you see PA retraced to the 23.6% level currently bouncing off, maybe we will get a higher retracement , maybe it wont move from at all today or maybe continue down.

if you think about wave patterns then i would say that we would get a retracement today (2nd leg) forming a lower high after that PA will continue down on the 3rd leg
Thank you very much!
  • #5,832
  • Mar 1, 2012 12:45am Mar 1, 2012 12:45am
Quoting X-Man
After a big move like that i think that PA will be in a range today.
I took out my fibb from high to low and you see PA retraced to the 23.6% level currently bouncing off, maybe we will get a higher retracement , maybe it wont move from at all today or maybe continue down.

if you think about wave patterns then i would say that we would get a retracement today (2nd leg) forming a lower high after that PA will continue down on the 3rd leg
Please X-Man, do you watch the wave patterns in H1 or H4 or D1?
vcary
  • #5,833
  • Mar 1, 2012 2:40am Mar 1, 2012 2:40am
Looking at E/U, there is a retracement happening.. Looking for a possible long entry..
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  • #5,834
  • Mar 1, 2012 2:47am Mar 1, 2012 2:47am
I am holding short position and for me, there is no way to go long, even TDI is in oversold area.
  • #5,835
  • Mar 1, 2012 2:55am Mar 1, 2012 2:55am
In my oppinion retracement is due first. Trend trading could be possible in NY.

BR
  • #5,836
  • Mar 1, 2012 2:59am Mar 1, 2012 2:59am
But why are you holding short on oversold area? Oversold means there is a big chance market will move to the upper side soon..
  • #5,837
  • Mar 1, 2012 3:10am Mar 1, 2012 3:10am
I guess that this is why we often get consolidation after a big move.

Going Long for me has two problems; the 200MA which must be broken to have a hope of a long trade is not far above and Daily Pivot which sits not far above that at 1.3371. The pivots location is important because it sits right on the 38.2 % fib retrace from the recent low and in my experience that is typically where this pair retrace to before continuing (Short in this case).
Going Short, my preference, has support (from previous resistance at 1.3293) and a big area of consolidation just below that!

Indecision, Indecision!

Thoughts anyone?
  • #5,838
  • Mar 1, 2012 3:13am Mar 1, 2012 3:13am
My bet is to go long for a small retrace. There is also a small divergence on the EURUSD 1H.
Attached Image
  • #5,839
  • Mar 1, 2012 3:16am Mar 1, 2012 3:16am
I am looking to 4H and Daily TF, and this shows, that going down, Daily TF is going down from 68 zone, so when larger TF goes down, the smaller TF must be in oversold area. X-man said, that sometimes price going down for 100p when TDI is in 32 or 62 zone. Of course it could go up, because this is forex, but it is too risky for me going long.
One more thing, Resistance became support in M30.

P.S I wanted to add picture, but I get error.
  • #5,840
  • Mar 1, 2012 3:24am Mar 1, 2012 3:24am
Quoting nonfiction
My bet is to go long for a small retrace. There is also a small divergence on the EURUSD 1H.
Thats what I did this morning, exploited the retrace on M15 and scalped the market less than 10 pips(long).S3 rules of course(TDI cross and PA assesment first).
But the price its cornered right now and all the signs are it will go down the following days.It needs some breathing(read retrace) room to resume its move down though.
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