X-Man's Super Simple System | Page 300 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Super Simple System for Scalping 180 replies

Please suggest a simple & effective Method/System of "Trading System" Forum to newbie 182 replies

Super Simple System 314 replies

Another great Breakout GBP/JPY System (Dachel's Simple system) 62 replies

X-Man's super simple system 4 hour method 1 reply

Attachments: X-Man's Super Simple System
Exit Attachments

X-Man's Super Simple System

  • #5,981
  • Mar 2, 2012 9:26am Mar 2, 2012 9:26am
Hale-Mary,

Yep, I know. I also made that trade (news cycle).
But as soon as I realized what was happening I
liquidated my long and went short. I lost 25 pips
on the long but made 80 pips on the short for a
gain of about 55 pips.

You have to stay flexable. Trade what you see...
The system will guide you. I took a small loss but made
a hugh gain from it. Don't get married to a position.

Remember:
Change happens.
Anticipate change.
Monitor Change.
Adapt to change quickly.
Change.
Enjoy the change.
Be ready to change quickly and enjoy it again and again.
***They Keep Moving The Cheese***

snarlyjack
  • #5,982
  • Mar 2, 2012 9:30am Mar 2, 2012 9:30am
Quoting snarlyjack
Hale-Mary,

Yep, I know. I also made that trade (news cycle).
But as soon as I realized what was happening I
liquidated my long and went short. I lost 25 pips
on the long but made 80 pips on the short for a
gain of about 55 pips.

You have to stay flexable. Trade what you see...
The system will guide you. I took a small loss but made
a hugh gain from it. Don't get married to a position.

Remember:
Change happens.
Anticipate change.
Monitor Change.
Adapt to change quickly.
Change.
Enjoy the change.
Be ready to change quickly and enjoy it...
Rright, But many times When this sort of thing happens (at least to me), I reverse the postion only to get spiked out. SO I just stayed out. For example, the day before EU had a huge spike. But as it was happening, I reversed to go short then I got stopped out. I closed out for the day and just watched to see what was going on.
  • #5,983
  • Mar 2, 2012 9:37am Mar 2, 2012 9:37am
Quoting hale-mary
I have the exact pivot indy on my chart....i find it difficult on how to interpret the pivot with the SR levels.

For example, the day bernanke spoke. We were bouncing on the pivot and everything looked clean for a buy...then SOUTH we went.

my simple answer is to trade 4-hours or 8-hours. This way, you don't have to concern yourself with whatever people like bernie will say in the house.

all the h1 noise is knee-jerk type of reaction to news.

to trade for a living, you need more than one system.
- one system to generate pips for your weekly expenses,
- one for generating your month salary,
- one to generate your year-end bonus,
- one to build wealth,

until you know how to build trading systems for your own, you will continue to struggle and life as a trader won't be enjoyable.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #5,984
  • Mar 2, 2012 9:43am Mar 2, 2012 9:43am
I am closing all my trades at the end of this hour candle.
Ten percent profit cycle in 5 trading days is what I worked very hard for this week. Number of pips do not count for me.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #5,985
  • Mar 2, 2012 9:47am Mar 2, 2012 9:47am
Hale-Mary,

This isn't what X-Man teaches but...

When I trade I monitor all the charts.

I trade off of the 1 hour chart! But, I also look
at the 5 minute, 15 minute 30 minute 1 hour and 4
hour charts. I try to get a really good feel for what
all of the charts are doing. Be in tune with what
the eur/dol charts are telling you.

Like now...the 1 hour chart is pointing down. However,
the 5 minute and 15 minute charts are going up. So...
I would watch those and not trade short when I know
the 5 and 15 minute charts are going up. Try to pin
point as much as possible your entry/exit...

snarlyjack
  • #5,986
  • Mar 2, 2012 9:51am Mar 2, 2012 9:51am
Hi Snarlyjack, where did you get your pivots from?
Are they a standard indicator on MT4?


Quoting snarlyjack
Hale-Mary,

I hope this picture might help you.

It looks to me like were sitting on the 3 day support line
with the TDI bottoming out. We will probably just go
flat for awhile.

Use your pivot and s/r lines. They help me alot.
Try it you might like them...

snarlyjack
  • #5,987
  • Mar 2, 2012 9:57am Mar 2, 2012 9:57am
Quoting emmanuel7788
my simple answer is to trade 4-hours or 8-hours. This way, you don't have to concern yourself with whatever people like bernie will say in the house.

all the h1 noise is knee-jerk type of reaction to news.

to trade for a living, you need more than one system.
- one system to generate pips for your weekly expenses,
- one for generating your month salary,
- one to generate your year-end bonus,
- one to build wealth,

until you know how to build trading systems for your own, you will continue to struggle and life as a trader won't be enjoyable....
The way I see it is this, I should be able to make profit regardless of timeframe. Why? I have done the 4 hour time frame, sat around for a while and resulted in a loss. Then some one suggested look at lower to confirm higher...again loss. Then someone said, 15 minute is the best time frame...again loss.

These someones were people who were successful at their timeframes. But I still had the same problem, I could not see what they see. AND still having problems with understanding the market conditions. Because when I enter, I see some of the senior members say price will not move,it the conditions are bad,etc. I just looked at my tdi cross and the candles....trying to keep it simple and not overanalyze and trying so hard not to make conclusions, yet end result is the same....loss.

I need to improve my anaysis or how I view the charts. That is the only way I see it. Some how you guys are able to look at the candles and be able to figure out whether the session will chop or be bad.
  • #5,988
  • Mar 2, 2012 9:59am Mar 2, 2012 9:59am
Artieboy,

If you go to the upper right hand side of the 1st page,
you will see a paper clip. If you scroll through the
paper clip you'll find different pivot indicators that
you can download and put on your charts.

Pivot's are not the "Holy Grail" but they do help
to get an idea how the market is structured and
what the big boys are looking at.

snarlyjack
  • #5,989
  • Mar 2, 2012 10:12am Mar 2, 2012 10:12am
Hale-Mary,

You have to realize that I have been trading for a long
time now. Thousand of hours looking at charts and
different indicators. I can say this tho: After looking
at hundreds of indicators and testing them my favorite
indicator (that I trust the most) is the TDI indicator.

It's not a black box indicator! And I know how to read it.
IMHO you should watch the TDI along with pivots and
different time frames. Take all the time you need to
give yourself a chance to succeed. Their is no rush, how
long is the string...everyone is different. Some people
like X-Man catch on very quickly, some people like me
it takes longer. The secret is don't give up and learn
something everyday. Their are some excellent traders here on FF
and for the most part they try to help one another as
much as possible...

snarlyjack
  • #5,990
  • Mar 2, 2012 10:30am Mar 2, 2012 10:30am
Quoting hale-mary
The way I see it is this, I should be able to make profit regardless of timeframe. Why? I have done the 4 hour time frame, sat around for a while and resulted in a loss. Then some one suggested look at lower to confirm higher...again loss. Then someone said, 15 minute is the best time frame...again loss.

These someones were people who were successful at their timeframes. But I still had the same problem, I could not see what they see. AND still having problems with understanding the market conditions. Because when I enter, I see some of the senior...
ok ok hale-mary,

I empathise fully with you. There is something which you are still missing.

4 years ago I was in same dilemma like you. My forex coach/guru whom I paid thousand of dollars to learn his system. He was a trader with 20 years bucket shop experience. I reacted exactly like you after one year. He told me that I wont make it as a trader in the market and he blog telling his school that people like me wont make it as a trader. 4 years has since passed. In spent 1 year to unlearn everything he taught me in 6 months. I went to another 'guru' who taught me trading discipline. Then I went to another coach who 'taught' me about trading psychology. After that, I am now under going transformation as part of my journey.
I am proud my trading performance as a trader.

My intraday trade result for week 09 attached.

Kind regards,
Attached Image (click to enlarge)
Click to Enlarge Name: ITD week 09.png Size: 19 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #5,991
  • Mar 2, 2012 10:35am Mar 2, 2012 10:35am
Quoting emmanuel7788
Hi,

the day range for this pair is only 50pips.
Look at the day candle now, do you see a strong support base to turn this around and close a green candle looking at the number of hours before NY close?
Gotcha, thanks !
  • #5,992
  • Mar 2, 2012 10:40am Mar 2, 2012 10:40am
Emmanuel,

Good job... It's a good feeling isn't it!

The real secret is don't give up and try to learn something
new everyday. That really is the secret to life!

"Take care of the penny's every day and the dollars will
take care of themselves".

snarlyjack
  • #5,993
  • Mar 2, 2012 10:55am Mar 2, 2012 10:55am
Quoting snarlyjack
Emmanuel,

Good job... It's a good feeling isn't it!

The real secret is don't give up and try to learn something
new everyday. That really is the secret to life!

"Take care of the penny's every day and the dollars will
take care of themselves".

snarlyjack
Thanks snarlyjack,

You have been in the market a lot longer than I.
You have been through the hardship and pain in becoming a trader.
Only people like you will understand what life is like as a trader.
Great to have you in this forum/thread.

Have a great weekend!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #5,994
  • Mar 2, 2012 11:19am Mar 2, 2012 11:19am
Quoting emmanuel7788
I am closing all my trades at the end of this hour candle.
Ten percent profit cycle in 5 trading days is what I worked very hard for this week. Number of pips do not count for me.
Hi Emmanuel

Very wise words......

Pips mean nothing to me either my friend... % is everything.....

10% for the week, great trading......

Ja.
Memories caught in time but never forgotten
  • #5,995
  • Mar 2, 2012 12:10pm Mar 2, 2012 12:10pm
Quoting vcary
Please Phx62, what is your stop loss, with trade M15?
Best regards
vcary
My standard SL and TP are 25 pips when I trade M15 charts....I adjust from there. My H1 standard SL & TP when I trade H1 charts is 50 pips each but the SL is an EMERGENCY SL. I will normally close earlier if the trade goes against me or tighten up the SL when I can't monitor the trade. These numbers are just get the trades opened up.
  • #5,996
  • Mar 2, 2012 12:20pm Mar 2, 2012 12:20pm
Quoting hale-mary
I dont know what people are seeing correctly on their charts, but I am unable to see anything correctly and have gotten stopped out everyday this week.

No matter how much time and effort I spend. I am always getting into a loss. Those beginning weeks seemed to be pure luck that TDI cross over and the candle color change worked for me.
I imagine you're perhaps doing 2 things.

Now apologies to x-man because I don't trade like him, I just use some aspects of Big Es method to make the chart easier to read. The first thing I imagine is that you are placing your stop below the nearest low, it gets hit, then the market goes your way, there's good reasons why that happens. There are various ways around that, one if which is not to place your stop in completely obvious areas, and size accordingly - had my stop been in the obvious area earlier in the week I would have been stopped out on the euro short for example. As it was price came over my 'point of no return' more than once but never closed over it, then dropped like a stone. Had I of gotten in a little later guess where I'd have put my short order? Probably where you'd put your stop!

The second thing, I imagine you are waiting for a strong candle on the H1 or H4 to close then entering straight away at that price, at the top of the momentum. This will work for you in those times when price just blows away but many times price will pull back after momentum. Now you can view this as stop hunting (and there are two areas where it's known that the stops will be, those straight below the swing low and those at price areas where people are likely to have put break even stops), or just hunting for more liquidity to continue the move, also some profit taking from all of those who were in at the start of the move.

This is how I play it. Imagine I'm trading the H4. Firstly I have S/D areas marked on my chart from the weekly and daily. Go to the H4 and see how they correlate - there's a good reason for that 4/5 MA apart from as some kind of entry trigger when price crosses it - look at the swings on it. Highs being breached etc. In the main go with the prevailing trend, if you see a chart that is all blue look for longs UNLESS price is heading into a S/D zone, then start thinking about reversals.

Now for the H4 (as an example) if I'm looking for a long I want to see price falling first. I note the highs of that falling countertrend. Now drop to the M15. Well what do you know? The highs correlate to the highs of the 15 minute channel. Now if you were wanting to go long what do you want to see? You want to see the last downswing on the 15 minute retrace more than 100% and if it also breaks out of the channel at the same time, GREAT, now wait for the pullback to the breakout area and get in long - note the TDI and Sinergy bars on the H4 at this point, what do you see? As for trade management you then have two choices - you can watch on the M15 and stay in until you see the opposite thing forming. You can use the H4 chart and the Sinergy bars to help you stay in all the way up, OR you can trade in and out on the M15.

Similarly the H1 will correlate to...M5???

There's nothing magical about HA candles, they help reduce screen clutter, make things less confusing and help you stay in when the market trends, BUT if you use them alone as an entry tool they will often get you in dangerously late.


Price is the same on all timeframes, they are all just different viewpoints.
  • #5,997
  • Mar 2, 2012 12:22pm Mar 2, 2012 12:22pm
Quoting X-Man
There you have it guys , Its the big one:

[size=3][color=blue]1 000 000 views
[size=7]in 3 months and few days.
[color=blue]One of the hottest threads out there
We are now part of the millionaires club

I want to thank everyone that made this happen.
[size=3]i want......
Congratulations to you on all your success and your great insight into the trading world. I believe you WILL become the legendary conqueror of markets! Like you, I owe a lot to Big E and his work but you, X-Man, have developed his work into a system that is great.......Thank you!
  • #5,998
  • Mar 2, 2012 1:01pm Mar 2, 2012 1:01pm
Quoting nunrgguy
I imagine you're perhaps doing 2 things.

Now apologies to x-man because I don't trade like him, I just use some aspects of Big Es method to make the chart easier to read. The first thing I imagine is that you are placing your stop below the nearest low, it gets hit, then the market goes your way, there's good reasons why that happens. There are various ways around that, one if which is not to place your stop in completely obvious areas, and size accordingly - had my stop been in the obvious area earlier in the week I would have been stopped out...
I dont trade that way at all. I can post charts. But a week after x-man suggested it his response stopped. I think I am pretty much on my own. Been at this for over 20 years will continue to be at it.
  • #5,999
  • Mar 2, 2012 1:03pm Mar 2, 2012 1:03pm
Well, unless you post charts no-one can help you. Just blind stabs in the dark otherwise isn't it? Although I have just gone to great length to explain how you can get it to work for you.
  • #6,000
  • Mar 2, 2012 1:18pm Mar 2, 2012 1:18pm
Quoting nunrgguy
I imagine you're perhaps doing 2 things.

Now apologies to x-man because I don't trade like him, I just use some aspects of Big Es method to make the chart easier to read. The first thing I imagine is that you are placing your stop below the nearest low, it gets hit, then the market goes your way, there's good reasons why that happens. There are various ways around that, one if which is not to place your stop in completely obvious areas, and size accordingly - had my stop been in the obvious area earlier in the week I would have been stopped out...
Good explanation, most of what you said is what i look for on different timeframes before i enter a trade and i strongly depend on S&D which i also have marked on my charts, this really helps in my decision making in opening and closing trades, also setting my SL and TP.
8 traders viewing now