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  • #6,141
  • Mar 5, 2012 11:28pm Mar 5, 2012 11:28pm
Quoting Phx62
Nothing wrong with that trade.....the only thing I did differently was opened the trade at the beginning of the entry candle instead of the top of that candle because the TDI had already crossed over (even though it was without much angle).....my trade barely reached the +50 pips...if it had come back 15 pips from the top, I would have exited for +35 because my trailing SL would have been at +13 pips and I would not have given that much back. The ADR for today is only 81 pips, meaning the EU is ranging.
You are right...you must give the trade some...
what make you exit at that time? do you give some breathing room too at the news? or you already take your pips before the news?
are you giving some breathing room just for the news or everytime?
and what is ADR ? how to use that?
thanks again.

@cajun: yea perhaps i should had done that. indecision mean downfall either way.
  • #6,142
  • Mar 5, 2012 11:31pm Mar 5, 2012 11:31pm
Quoting rim47
Ljin,

What Stochastic Indicator are you using and where did you get it, could you post a link?

Thanks.
you could find it on paper clip. name stochastic color
  • #6,143
  • Mar 5, 2012 11:49pm Mar 5, 2012 11:49pm
Quoting ljin
you could find it on paper clip. name stochastic color
I have just gone through the attachments twice and the indicator does not appear to be there, or at least I am not seeing it, can you please attach the file.
  • #6,144
  • Mar 6, 2012 12:03am Mar 6, 2012 12:03am
Hi,
I did a quick review during ealry Tokyo session and since then this pair has not move much and is still within yesterday's high-low.
Looking at the recent fibo levels drawn, the breakout can be either way.
But there isn't any EUR affecting news today, so what do you look for?

rgds,
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD 6 Mar Trade BO 6-3-2012 8-40-54 AM.png Size: 78 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,145
  • Mar 6, 2012 12:09am Mar 6, 2012 12:09am
Quoting capab
hi, which pivot point indicator that are recommended for this method??
Just go back a couple of pages to post #6106 and you should be able to track down the one that X-Man is using
  • #6,146
  • Mar 6, 2012 12:12am Mar 6, 2012 12:12am
Quoting emmanuel7788
Hi,
I did a quick review during ealry Tokyo session and since then this pair has not move much and is still within yesterday's high-low.
Looking at the recent fibo levels drawn, the breakout can be either way.
But there isn't any EUR affecting news today, so what do you look for?

rgds,
Interesting observation, indeed there is room to breath whichever direction price takes.

I guess a buy stop and sell stop with SL and TP could be pending on either side, that way you can just walk away.

1R looks easily achievable....
  • #6,147
  • Mar 6, 2012 12:25am Mar 6, 2012 12:25am
Quoting riprider
hi Emmanuel,,, insightful posts ! Please can you share your insght into your longterm 3-4 day swing trades and also where can I find (read up) on a good account management system...thanks!

Hi riprider,

my short swing trades are based on waves analysis and I pick to trade a particular wave setup. I do my wave analysis on H4 and I always have sight on the D1 and W1 support and resistance levels. Wave analysis and harmonics pattern trading require time to learn and practice. You can go to babypips .com ...I think it is grade 8 level, and get an idea for start.

Once you have done the wave analysis, you can then use TMS or S3 H4 or Day method for looking for technical setups. I think the best timeframe to trade manage is H4 which is my preferred.
You need to work on your own money management and trade management in order to make this into a complete system of your own.

what do you mean by 'account management system'? can you elaborate or else I'll give you wrong answer.

rgds,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,148
  • Mar 6, 2012 12:26am Mar 6, 2012 12:26am
Quoting emmanuel7788
Hi,
I did a quick review during ealry Tokyo session and since then this pair has not move much and is still within yesterday's high-low.
Looking at the recent fibo levels drawn, the breakout can be either way.
But there isn't any EUR affecting news today, so what do you look for?

rgds,
i am still thinking to go long because price is making higher low and there is a divergence too in daily tf. even though , probably it will go make a new high and continue to lower low and continue downward.
my observation say today would be bullish and starting tomorrow the price would be bearish until the end of week on daily tf.
what do you think?
  • #6,149
  • Mar 6, 2012 12:28am Mar 6, 2012 12:28am
Quoting rim47
I have just gone through the attachments twice and the indicator does not appear to be there, or at least I am not seeing it, can you please attach the file.
here we go
Attached File(s)
File Type: mq4 Stochastic_Color_v1.02classicC.mq4   15 KB | 485 downloads
File Type: ex4 Stochastic_Color_v1.02classicC.ex4   16 KB | 444 downloads
  • #6,150
  • Mar 6, 2012 12:29am Mar 6, 2012 12:29am
Ljin,

Thanks a million.
  • #6,151
  • Mar 6, 2012 12:36am Mar 6, 2012 12:36am
Quoting riprider
with regards to your multi-lot strategy what percentage of your intraday trading portfolio does this take ...?
Hi riprider,
I allocate about 17% of my trading capital for intraday trading.
For each currency pair traded, my risk per pair is not more than 2%. I can trade more than one currency pair at the same time when I see good setup. But maximum not exposing more than 10% of my capital.
All trades are using multi-lot entry....usually 2-positions at entry, one position will exit at initial +30pips or 1xR, and remaining position let run and manage on H1 TF.
Note: I do not use trailing stop they way broker platform allows you to.
I perefer to use jumping stops set to initial R.
Go study the Multi-Purpose Trade Manager EA (aka MPTM) in this FF.
MTPM posted on post #1689.

rgds,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,152
  • Mar 6, 2012 12:55am Mar 6, 2012 12:55am
Quoting ljin
i am still thinking to go long because price is making higher low and there is a divergence too in daily tf. even though , probably it will go make a new high and continue to lower low and continue downward.
my observation say today would be bullish and starting tomorrow the price would be bearish until the end of week on daily tf.
what do you think?
you have already formed a bias which is good. But be prepared fro a turnaround trade as this may range till the next bigger move.

my thoughts:
- the first half of Tokyo session is narrow abt 40pips
- yesterday range abt 82pips
- breakout can go both ways,
- on H1, above are WP 1.3260, EMA200, EMA60 so this may limit the room UP.
- still on H1, price is trading below DP 1.3208, and more room DOWN.
- I am prepare for both ways intraday, but I will prefer to sell high because I have short swing held since last Friday, now floating +100pips.

rgds,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,153
  • Mar 6, 2012 12:58am Mar 6, 2012 12:58am
Quoting emmanuel7788
Hi riprider,
I allocate about 17% of my trading capital for intraday trading.
For each currency pair traded, my risk per pair is not more than 2%. I can trade more than one currency pair at the same time when I see good setup. But maximum not exposing more than 10% of my capital.
All trades are using multi-lot entry....usually 2-positions at entry, one position will exit at initial +30pips or 1xR, and remaining position let run and manage on H1 TF.
Note: I do not use trailing stop they way broker platform allows you to.
I perefer to use jumping...

Hi emma

i have started using the MPTM ea and what a great piece of software, there is however one option that i dont really know what its used for. I use the MPTM with the s3 method and use the jump option once my take rofit hits 25 or so pips.

The option I am having problems with is the candlestick trail. I am not sure if its for what i think so, If i am using the S3 method lets say on a 4HR TF , does it mean the trailstop will hit when the candle color changes? and if so, does it work with synergy bars.

example.... if i go long on 4hr TF and get 6 blue candles, then once the 1st red candle comes it will close the trade?

btw i highly recommend the MPTM to all S3 traders if you are not planning to stay in front of the pc and monitor your trades exits.
  • #6,154
  • Mar 6, 2012 1:07am Mar 6, 2012 1:07am
Quoting ghischa
Yes I use the indicators of page 1.For the HeikenAshi you're right but i don't understand the big different between them. I try on a same chart and no really diffrent to me. Stoch i use just to confirm the trend for me like Big E said on this thread. The support and resistance levels for this day trade? I did not take care of it here but It just demo next time I will pay attention.(sorry for my english i'm french....

The trailing stop is use if i'm not in front of my computer .

thank for you're help.
Hi ghischa,

thanks for reply. your English is far better than my French I am sure of that. No worries with English here in this forum. We all speak the same trading language, jargon and acronyms, ....

To compare APB vs HA, read post #3304.

Since you know TMS and use the stochastic indy, you know the rules of TMS on H1 trading. So ask yourself which of those rules did you follow and complied with.

Trading without support and resistance is one reason for disaster.

X-man S3 H1 EU trade focus on the LO and NYO with PA as the leading edge over TDI and APB.

I do not know what the trailing stop EA you use. But, I would NOT activate the use of trailing stop when I open my trades. From my experience, trailing stop after a trade move into BE / profit range will survive longer in the market.

rgds,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,155
  • Mar 6, 2012 1:14am Mar 6, 2012 1:14am
Quoting only20gp
Hi emma

i have started using the MPTM ea and what a great piece of software, there is however one option that i dont really know what its used for. I use the MPTM with the s3 method and use the jump option once my take rofit hits 25 or so pips.

The option I am having problems with is the candlestick trail. I am not sure if its for what i think so, If i am using the S3 method lets say on a 4HR TF , does it mean the trailstop will hit when the candle color changes? and if so, does it work with synergy bars.

example.... if i go long on 4hr TF...

Hi,
Sorry I will not discuss MPTM EA here in this thread.
Else I will get ban by X-Man.
There is MPTM thread, go there and ask whatever you want.
I sneak in there once a while and try help you guys with that.

Rgds,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,156
  • Mar 6, 2012 1:22am Mar 6, 2012 1:22am
Quoting Cun
Hi Emmanuel,

Thank you so much for this insightful reply and for your generousity.

Could you kindly elaborate on how you manage the drawdown?

If your current max drawdown % is lower than anticipated are you then more willing to take on more aggressive trades and vice versa?

I hope one day I could reach the level you are at now. So much to learn but I love it.


Thanks again.
Hi Cun,

Good questions, but I am afraid I do not have all the answers. But I will only share what I learned and apply.

We all know that having trading losses is normal and must be accepted being part of the trading business. Some people will say treat these losses as cost of doing business, expenses, etc. But in reality it is not so easy for many traders on a day-today basis. Managing drawdown has nothing to do with money management or trade management. We all know by now that recovery of drawdown is much more difficult that the normal trading itself. Managing drawdown is in fact to focus on how we manage our trading psychology when we are in a drawdown period and how we react to drawdown.

Some of the things I learn are:-
- I must not blame the strategy and start making changes to the strategy or in worst case change the strategy.
- I must recognise that drawdown are inherent in all systems due to unforeseeable adverse market conditions.
- I believe that my trading methodology, money management and trade management are all sound and drawdown is NOT a reason to make any changes to these.
- I must avoid the temptations to increase more trades hoping that it will help recover losses quicker.
- I must instead, go back to the basics of my systems, do review and make sure I am following my system rules and my trade plan.
- I must not make any change to money management thinking that it will help me recover the drawdown quicker.
- I know that only consistent trade management over time will help me recover the drawdown.

There is one aspect in money management which is the preservation of trading capital I think is most important as an investor trader. There is attractiveness in compounding profits to grow your trading account as many forex coaches and financial advisors will tell you. There are of course both upside and downside to this. To do this or not is up to your individual business plan and strategy.

In my intraday and swing trading, I do not use compounding of profits .
I maintain a fix base capital and use this to do my position sizing for every trade. I keep track of a profit cycle, currently at 10%. When I achieve the 10%, I withdraw the profit and start again at the base capital. In this way I do not overtrade. I have set a equity protection cut-off limit, say at 20% where I will stop all trading. Consistency in building the 10% profit cycle is more important than adding up the pips. The shorter the number of trading days to achieve 10% profit cycle is one KPI which I use. This is an ongoing monitoring and evaluation of trading performance. On an average, a 10% profit cycle in 10~15 trading days is achievable but requires some diligent work. I think this is one effective way to cope with drawdown and manage the recovery process.

Hope this will help you understand what I do.

Regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,157
  • Mar 6, 2012 1:22am Mar 6, 2012 1:22am
Hi everyone,

Which direction will th PA moves when we observe a convergence!!
Attached Image (click to enlarge)
Click to Enlarge Name: 2013-03-06 H4 EURUSD.jpg Size: 115 KB
  • #6,158
  • Mar 6, 2012 1:28am Mar 6, 2012 1:28am
Quoting Star178
Hi everyone,

Which direction will th PA moves when we observe a convergence!!
Hi Star178,

Nice dynamic Day candle you have on the right side of your H4 chart.
I like that.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,159
  • Mar 6, 2012 2:33am Mar 6, 2012 2:33am
Hi, is anyone short on EU @ L.O.?

Nice 4 o' clock position on TDI, nice engulfing bearish candle before L.O.

Checking H4 and Daily seems to agree on SHORT...

and as Emmanuel said, PA below DP...

also, APB on upper sonic channel....

Emmanuel, do you happen to know SONIC DEEJAY?
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD short March 6, 2012.png Size: 30 KB
In GOD We TRUST !!! "REPETITION is the mother of all SKILLS." -Bo Sanchez
  • #6,160
  • Mar 6, 2012 2:35am Mar 6, 2012 2:35am
any update on 4h setup ( short UC long GU)
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