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Super Simple System for Scalping 179 replies

Please suggest a simple & effective Method/System of "Trading System" Forum to newbie 180 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
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X-Man's Super Simple System

Quoting HITMAN
any update on 4h setup ( short UC long GU)
dont see any long setup on 4hr usd/gbp, nor do i see it on the 1hr.
Quoting Awin
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?
Awin, I'm in two minds here. Weekly looks short, when I get to the shorter TFs I see support just below from fibs(61.8 and 23%) SHI channel and DS-1 all coinciding around 1.3171. What do you think?
I would use caution with shorting based on the TL on H4.
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Trading can't be taught but it can be learned
Quoting emmanuel7788
- 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.
[font=Verdana][size=2][color=black][color=black][font=Verdana]- I believe that my trading methodology, money management and trade management...
Hi again Emmanuel,

Thank you so much for sharing your knowledge. I will add the above comments to the collection of important notes that I have been collecting from the forum and that I keep reading again and again.

I myself use a scheme found in one of the posts in the TMS thread whereby to build confidence we start trading at 1 cent/pip and after collecting 1000 pips we increase it to 2 cents/pip. After collecting another 1000 pips we then increase it to 4 cents/pip and so on. And if we lose over 250 pips we start over from the previous level.

So far the above scheme works very well for me. However once I start trading standard lot your fixed capital base scheme seems more appropriate and is probably the one I will be using.

Thanks again Emmanuel and happy trading.
Quoting shoot2scoot
Awin, I'm in two minds here. Weekly looks short, when I get to the shorter TFs I see support just below from fibs(61.8 and 23%) SHI channel and DS-1 all coinciding around 1.3171. What do you think?
i just get out of trade with 6 pips loss. it stuck on fib 61.8 . undecided for now. might see other opportunity
I think we may have another scalping day today, i think the 1.3150 is the key area to watch, if it crosses that then we could see a continuation of a downtrend. What do you think? Therefore i will continue to scalp this and pick up what i can until a decision is made one way or another.
Quoting cajun
I think we may have another scalping day today, i think the 1.3150 is the key area to watch, if it crosses that then we could see a continuation of a downtrend. What do you think? Therefore i will continue to scalp this and pick up what i can until a decision is made one way or another.
i am not sure . and i am not confident with my scalping skills. so i might passed. but probably i will waiting for next opportunity. it probably making double bottom though. and long position at that time. but unsure for now.
Quoting cajun
I think we may have another scalping day today, i think the 1.3150 is the key area to watch, if it crosses that then we could see a continuation of a downtrend. What do you think? Therefore i will continue to scalp this and pick up what i can until a decision is made one way or another.
I agree, I just took ten pips long when the 1.3170 was hit but it seems that the shorts are winning right now. Glad I wasn't greedy! No point entering now until NYO for me.
There went the 1.3150, glad i was scalping a short, i will see what if it continues before i close. Predictions are if it crosses 1.3150 could continue to 2600 area, don't know at this point. Hard to believe it would come down that low.
My 70 pips from GBPUSD.
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Quoting shoot2scoot
Awin, I'm in two minds here. Weekly looks short, when I get to the shorter TFs I see support just below from fibs(61.8 and 23%) SHI channel and DS-1 all coinciding around 1.3171. What do you think?
Hi shoot,

sorry for my very late reply, i was really glued to my platform closely watching as things developed...

i guess responding to your questions now will be moot since everything went down (see big red candle on attached) closing in on my TP3...

anyway, i believe in keeping things simple as possible and not over analyze things...

the reasons i entered short for this trade are all highlighted on my post #6163...

sometimes, like X-Man said, he just need about 2 confirmations to jump-in into the trade, i highlighted about 4 reasons on that post why i entered short and i guess, i got lucky....

don't worry, we'll catch more better ones....
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In GOD We TRUST !!! "REPETITION is the mother of all SKILLS." -Bo Sanchez
lol damn. if i werent close my trade. i get +50 pips by now.
can all seniors here or master of this strategy like x-man,phx62, etc point where i get wrong?

when i am open position ( i am waiting until the price get past prev low. is this a right decision? or am i need to open position straight when the candle open?)

when i am close. the price bounce from low shi channel and fib 61.8 then pullback all the way up. until i close manually. (i thought here the price would pull back and bullish so i am waiting for that to entry. but the price going down again and making a nice +50 pips) .
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All my 5 transactions already hit TP for over 210 pips, I was at the office and couldn't monitor them, which was good as I still have some patience and discipline problems (I just remote desktoped and saw the results).

Went short on E/U, G/U per S3 rules H1
Also short on E/Y,U/Y,GY per TMS H4 rules.

My conclusion and my take on this:

TRUST YOUR SYSTEM even if it fails you...I was on minus but I trusted my analysis, my system and ultimately what I saw confirmed by the system.

The best traders have developed an edge and more importantly they trust their edge! - Mark Douglas - Trading in the Zone

I'm not there yet but one can at least asipre at it.


The best part of my reaction is that I'm not happy at all, I'm just feeling indifferent, a sensation which far outweights the pips gained for today, at least for me.

green pips
Quoting sarmatius
All my 5 transactions already hit TP for over 210 pips, I was at the office and couldn't monitor them, which was good as I still have some patience and discipline problems (I just remote desktoped and saw the results).

Went short on E/U, G/U per S3 rules H1
Also short on E/Y,U/Y,GY per TMS H4 rules.

My conclusion and my take on this:

TRUST YOUR SYSTEM even if it fails you...I was on minus but I trusted my analysis, my system and ultimately what I saw confirmed by the system.

The best traders have developed an edge and more importantly they...
Congratulations man!

You are right, your not there yet but you will surely get there!

carry on mate....
In GOD We TRUST !!! "REPETITION is the mother of all SKILLS." -Bo Sanchez
Quoting sarmatius
All my 5 transactions already hit TP for over 210 pips, I was at the office and couldn't monitor them, which was good as I still have some patience and discipline problems (I just remote desktoped and saw the results).

Went short on E/U, G/U per S3 rules H1
Also short on E/Y,U/Y,GY per TMS H4 rules.
Congrats on your trades, not to put a dampner on it, but something to consider,
E/U to G/U and E/Y to U/Y have roughly a 90/100 hourly correlation.
While E/Y and G/Y have a 96 hourly correlation.
Bearing in mind 100 is a perfect correlation, by placing all 5 of these trades you are enevitably exposing your risk to the market X5, as more than 90% they will follow the same path.

Just food for thought, well done though
http://www.forexticket.co.uk/en/tools/01-01-correlation
Quoting robthorp
Congrats on your trades, not to put a dampner on it, but something to consider,
E/U to G/U and E/Y to U/Y have roughly a 90/100 hourly correlation.
While E/Y and G/Y have a 96 hourly correlation.
Bearing in mind 100 is a perfect correlation, by placing all 5 of these trades you are enevitably exposing your risk to the market X5, as more than 90% they will follow the same path.

Just food for thought, well done though
http://www.forexticket.co.uk/en/tools/01-01-correlation

thats exactly what i was thinking, its just the same as placing 5x more lots on the same pair, well, almost. but again, congrats
I am short @ 1.3195 will it reach 78.6??
PA will tell us...
I see a demand area at 1.2648 which was reached back in January, will it revisit this area?
Quoting Awin
Hi shoot,

sorry for my very late reply, i was really glued to my platform closely watching as things developed...


don't worry, we'll catch more better ones....
Awin, no worries, thanks for coming back to me. I got my 10 pips long but the big one did get away. Lol. Next time!
Hi,
some of you caught the GBPUSD move.
Looks like a good trade to hang on to.
All TF - H4,D1 and W1 looks good, strong downflow.
It is up to your trade mnagement to ride this one.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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