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  • #6,321
  • Mar 7, 2012 1:47pm Mar 7, 2012 1:47pm
Quoting only20gp
Hehehe, Ljin, they were perfect losses, its like they knew axactly where my stops were...
eh? aint that you sell high and buy low?
oh!. the one that happen on first trade is you long position instead of short? ok i got it now. sorry my bad . i hope you are not using real money yet..
  • #6,322
  • Mar 7, 2012 3:34pm Mar 7, 2012 3:34pm
PHX62...where was your trade today?
  • #6,323
  • Edited 6:33pm Mar 7, 2012 6:16pm | Edited 6:33pm
Quoting EvoPips
Hi emmanuel7788,

could you explain more on looking at the higher TF? please give some examples of today's market so i can learn better also helps some here

because i am only looking at the H1 TF.
Hi EvoPips,

The basics of using multi-timeframe is available in babypips school.
There are merits in using MTF trading and many successful trades / authors have written a lot on their systems and how they approach the market looking doing MTF analysis. Here in this thread and all over in FF, traders talk about MTF analysis in their trading.

In yesterday' (07 Mar) example, I posted the chart when FFM* open, and H1 TDI show a cross down. When I remember that the Weekly TDI is also pointing downards, but the cross down is not comfirm until this week candle closes.
On the D1, the TDI is also pointing down and below the lower band and moving to below the 50 level.
The only TDI conflict I saw was on the H4 TF. That was what my concern with yesterday when I wanted to go short.
The DP 07Mar as resistance was tempting to go short. But I remembered how we all traded the Tuesday breakout of Monday' narrow range Low.
Monday 05Mar low was also a nearby resistance which has not been tested when FFM open.

* FFM (Frankfurt am Mainz), referring to Frankfurt market, predominantly DAX.

On the MTF subject, I have been very inspired by Dr Alexander Elder' Triple Screen System. Read that book and you will find many very good ideas about system development.

Regards,
Attached Image (click to enlarge)
Click to Enlarge Name: Alex_Elder Triple Screen Systems.png Size: 54 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,324
  • Mar 7, 2012 6:27pm Mar 7, 2012 6:27pm
So does this help to some extent aviod chop on the 1 hour because I ALWAYS get caught in that. By the way did you ever get my PM? No rush.

Quoting emmanuel7788
Hi EvoPips,

The basics of using multi-timeframe is available in babypips school.
There are merits in using MTF trading and many successful trades / authors have writtne a lot on thier system and how they approach the market looking doin MTF analysis. Here in this thread and all over in FF, traders talk about MTF analysis in their trading.

In yesterday' (07 Mar) example, I posted the chart when FFM* open, and H1 TDI show a cross down. When I remember that the Weekly TDI is also pointing downards, but the cross down is not comfirm until this...
  • #6,325
  • Edited 6:29pm Mar 7, 2012 6:27pm | Edited 6:29pm
Quoting Olafff
is that a warning?

D1 and W1 - still on sale (imo)
H4 - however is oversold (looking like want to go north)

sitting on the hands for now.

Hi Olaf,

Maybe the market was warning us back then. But I always look at my charts starting from W1>D1>H4> H1 at the start of the week and every new trading day.

The TDI conflict I replied in earlier post#6327.

But I would like to add somethingb here on price bar patterns and the APB. Once you know these well, you will get one high probability win trade every week just this pair alone. The idea is to use MTF as the key to unlock the door for you to the new trading week. See the attached charts and my comments written.

Regard,

Have a great trading day ahead!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURUSD W1 chart.png Size: 45 KB
Click to Enlarge Name: EURUSD D1 chart.png Size: 32 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,326
  • Mar 7, 2012 6:56pm Mar 7, 2012 6:56pm
Quoting hale-mary
So does this help to some extent aviod chop on the 1 hour because I ALWAYS get caught in that. By the way did you ever get my PM? No rush.
Hi hm,

Yes, I got your PM and I will find time today and reply you.
Sorry, yesterday caught with some home DIY repairs to do and I missed the good discussion by some members.

Thanks guys for those posts shared, some good sharing and critics too. Catch up later with you all.

On the question on how to avoid choppy conditions or sideway market condition. Well we do not know when the markt will be choppy until we are caught in it.
But using MTF analysis will help us identify when to trade the trend and to stay out of sideway market condition.
But knowing sideway market is a good thing because we will trade the breakouts.
Some indicators, like the TDI also provide some indication of ranging conditon:
> conflict of TDI signal in different TFs.
> when TDI PL and TSL are within the 45 and 55 levels being one methdo used by traders using the RSI(8)/MA(8) quite similar to the TDI.

But, we all must obseve that after a short trend, market will rest. We need to see this in lower TF where prices get into narrow range, and these usually can be seen with historical support and resistance.

One thing we can never anticipate how market reacts to major economic events using technical analysis alone.

while typing this now, AUDUSD is reacting to domestic data release now.

Hope this help.

Regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,327
  • Mar 7, 2012 7:48pm Mar 7, 2012 7:48pm
Hi everybody...I want to ask if there something wrong with my chart, the Indicator I'm using is Heiken Ashi from MT4 & Synergy APB...but sometime there is 2 color (Red & Blue) are overlapping. This is usually happen at small candle stick.

I mark with green arrow on my chart. This 4H EUR USD Chart

Thanks for the help

Attached Image (click to enlarge)
Click to Enlarge Name: EUR USD HA 4H.gif Size: 22 KB
  • #6,328
  • Edited 8:09pm Mar 7, 2012 7:54pm | Edited 8:09pm
Quoting Mantis
Hi everybody...I want to ask if there something wrong with my chart, the Indicator I'm using is Heiken Ashi from MT4 & Synergy APB...but sometime there is 2 color (Red & Blue) are overlapping. This is usually happen at small candle stick.

I mark with green arrow on my chart. This 4H EUR USD Chart

Thanks for the help

Attachment

why do you use both HA and APB on the same price chart?
You can either use one or the other.

on post#3304, I explained the difference between APB and HA.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,329
  • Mar 7, 2012 8:21pm Mar 7, 2012 8:21pm
Quoting emmanuel7788
why do you use both HA and APB on the same price chart?
You can either use one or the other.

on post#3304, I explained the difference between APB and HA.
Ow, it seem that I've mixed up a little bit ....I thought that the HA candle Indi use it also with The Synergy. No wonder there is some overlapping, cause the close of HA candle are using different calculation with the close of APB candle.

Thanks for the help emmanuel7788..
  • #6,330
  • Mar 7, 2012 10:17pm Mar 7, 2012 10:17pm
Quoting kokopelli
Everyone,

I'm new to the thread, and only went through the first 120 pages, so I'm not sure if someone had already brought this to your attention.

This is a research that will back up X-man's reason for drawing a horizontal line 1 to 2 hours prior to the London's open. Take a look at this research:
http://forexworksheet.com/timing-the...ng-perfomance/

You can verify this for yourself, add an ATR(14) to your 1hr chart. You will notice that the ATR value is often at its lowest of the day at around...
Thanks kokopelli,

very good piece of research information.
it is important when we design and build our own trading systems for any market type, we must be able to verify the type of technical setups and the range using historical data.
for every technical setup, we need to count how many times it occur in history, the frequecny of occurence and also during which market session to know the repetitive nature. these statistics are crucial to know in order to build a complete system with money management and trade management methods in it.
we need to be able to make a rough estimate what the returns would be if those technical setups and traded using our own money management models.
For this, we need some kind of backtesting systems.

X-Man has tested his system backward and forward, and proven it will make money for him.
Having backtested this on our own, we all need to forward test this system using a demo account. But we need to think of our own money management, position sizing strategy and trade management method.
More important for us is also to ask ourself; Is this system suitable for our individual temperament.
This is the most vital questions because many traders failed because the system they trade did not match their temperament.
I have traded scalping systems on M5 and M15, these did not match my temperament. I failed and I stopped trading lower TFs below H1.

One forex coach said my brain is too slow and perhaps he is right. H4 is my best TF, I can think even more slowly, relax in between two H4 candles, I can read and research while waiting for H4 candle to close/open, I have time to busy myself writing in forums like this, ... lot of other things I do in between the 4-hours.

Have fun reading my banter and occasional rant.
Thumbs down if you want to.

Cheers!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,331
  • Mar 7, 2012 11:50pm Mar 7, 2012 11:50pm
Hi,

LO in less than 3 hours. After Tuesday 6 Mar breakout trade, today will most probably be the trading day of this week with some red data release later. Who will lead the way? will it be GBP or EUR?

If you read my post#6329 above, you can figure out the possibilities to trade today' breakout potential.

Just be nimble and be prepared to do the turnaround when your first belief is not what you see on the chart later.

You need to be in the market to make money. To get a feel of the market and be attached to it, you must put in your order. By staying on the sideline you do not have any emotion attachment with the market. How do you feel the rythm of the market just by looking at your chart?

Good trading ahead!
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD 8 Mar View 8-3-2012 1-27-15 PM.png Size: 68 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,332
  • Mar 8, 2012 12:25am Mar 8, 2012 12:25am
Quoting emmanuel7788
Hi,

LO in less than 3 hours. After Tuesday 6 Mar breakout trade, today will most probably be the trading day of this week with some red data release later. Who will lead the way? will it be GBP or EUR?

If you read my post#6329 above, you can figure out the possibilities to trade today' breakout potential.

Just be nimble and be prepared to do the turnaround when your first belief is not what you see on the chart later.

You need to be in the market to make money. To get a feel of the market and be attached to it, you must put in your order....
I'd agree that 3180 is a definite potential R level. After 3 good legs down some pause is not unexpected. So yes potentially a good chance to trade the reaction to 3180 area.
  • #6,333
  • Mar 8, 2012 12:38am Mar 8, 2012 12:38am
The trade I took through X-Man rules on H4.
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad.gif Size: 33 KB
  • #6,334
  • Mar 8, 2012 12:39am Mar 8, 2012 12:39am
Quoting Vantage
I'd agree that 3180 is a definite potential R level. After 3 good legs down some pause is not unexpected. So yes potentially a good chance to trade the reaction to 3180 area.

Thanks Vantage!
Now my confidence meter just went up some points.

Cheers!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,335
  • Mar 8, 2012 12:42am Mar 8, 2012 12:42am
Hi ALL,
Just spend some time to read all of yesterdays posts. I did missed some good ones!.
Yesterday I was busy with some home chores and missed all the interesting discussions and share by members - nonfiction, only20gp, Dr Zulu, chiche, Sender, kokopelli, Amin, Olafff, Evopips, Liberum ,..others too.
Some critics I noted, everything taken in positive light. > THANK YOU ALL!

You guys reminds me of myself during my long forex trading learning journey.
We do have an active trading bunch here and let’s keep the positive spirit burning in all our discussions and sharing.

Good Trading everyone! Today we must make some money.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,336
  • Mar 8, 2012 12:51am Mar 8, 2012 12:51am
hello guys,
please i would like to know how many pips can i take to timeframe H4 and h1
template X-man.
thanks
  • #6,337
  • Mar 8, 2012 12:51am Mar 8, 2012 12:51am
Quoting IenDzi
The trade I took through X-Man rules on H4.

Hi,

such a nice trade. That's why I love H4 TF.
The day range for this pair is falling from 100 pips to 72+pips.
Shall see how this week will close, next week look out for a breakout potential.
Look W1>D1>H4....

Cheers!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,338
  • Mar 8, 2012 1:07am Mar 8, 2012 1:07am
Quoting davson90
hello guys,
please i would like to know how many pips can i take to timeframe H4 and h1
template X-man.
thanks

Hello davson,

You need to have a good understanding in market volatility when you think of trading H1 and H4.

I trade H1 intraday and I check what the average day range of that currency pair for trhe last 5,10,20 and 100 days.
Normally, being conservative, I will plan my trades to capture 60% of the average day range.

For H4, it is the weekly range I will look at and the swings highs-lows.

Please read up more on market volatility and using the ATR indicator which is available in all trading platforms.
Here is one good website where I learn from other than babypips school.

> http://forex-indicators.net/volatility-indicators/atr

Regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,339
  • Mar 8, 2012 1:11am Mar 8, 2012 1:11am
I want to ask about yesterday EU H1 trade. I got a loss.
Can I avoid this trade? I've noticed that is my common mistake and I don't know how I could avoid it. Has anyone some advice?
Thank you.
Attached Image (click to enlarge)
Click to Enlarge Name: euyesterday.gif Size: 37 KB
  • #6,340
  • Mar 8, 2012 1:16am Mar 8, 2012 1:16am
Price is reaching the low, will it breakout to trade higher?
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