X-Man's Super Simple System | Page 337 | 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

  • #6,721
  • Mar 21, 2012 4:46pm Mar 21, 2012 4:46pm
Quoting emmanuel7788
Hi,
Yesterday's trade closed. Only managed partial exit +30pips.

Today re-enter at NYO
EP @ 1.3240
SL - 47 pips
TP - partial exit next R

with news in about one hour, need to protect early.

Hi,

Trade partial exit +49pips.
Market is rather quiet and low liquidity.
Investors and traders are very cautious. It would be interesting to see how markets will perform today and tomorrow, this may set the direction for next week to close the 1st Q.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD H4 21 Mar Trade update 22-3-2012 7-32-37 AM.png Size: 19 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,722
  • Mar 21, 2012 6:19pm Mar 21, 2012 6:19pm
Thanks mate!
Attached Image (click to enlarge)
Click to Enlarge Name: Thrax AUDUSD H4.png Size: 46 KB
In GOD We TRUST !!! "REPETITION is the mother of all SKILLS." -Bo Sanchez
  • #6,723
  • Mar 21, 2012 9:44pm Mar 21, 2012 9:44pm
Quoting emmanuel7788
Hi,

Trade partial exit +49pips.
Market is rather quiet and low liquidity.
Investors and traders are very cautious. It would be interesting to see how markets will perform today and tomorrow, this may set the direction for next week to close the 1st Q.
hello,
i just notice that it is different than my chart. in my chart there is not a single pinbar at that time. do you know what went wrong?
here is my chart
Attached Image (click to enlarge)
Click to Enlarge Name: pinbar.png Size: 45 KB
  • #6,724
  • Mar 21, 2012 10:36pm Mar 21, 2012 10:36pm
Quoting ljin
hello,
i just notice that it is different than my chart. in my chart there is not a single pinbar at that time. do you know what went wrong?
here is my chart
It looks like you use GMT+3 broker server data, my guess is Insta Forex.
Right?

I use GMT+0 for all my trading, just need to be consistent with my trade setups and everything else because I trade using H4 charts.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,725
  • Mar 21, 2012 11:35pm Mar 21, 2012 11:35pm
Quoting emmanuel7788
It looks like you use GMT+3 broker server data, my guess is Insta Forex.
Right?

I use GMT+0 for all my trading, just need to be consistent with my trade setups and everything else because I trade using H4 charts.
yes you are right. i use ifx . it just change from gmt+2 to gmt+3 . make me confused at that time..... but is not that gmt+0 is great? that pinbar was right on .
  • #6,726
  • Mar 21, 2012 11:45pm Mar 21, 2012 11:45pm
Quoting Awin
Thanks mate!
Hi,
this is the EMA(60) and the bands are the 2*ATR(7). I attach the indicator. You can set the multiples of the ATR and its period and the type and period of the MA as well.

thrax
Attached File(s)
File Type: mq4 Moving Average Dynamic Envelope.mq4   3 KB | 490 downloads
  • #6,727
  • Edited 2:40am Mar 22, 2012 1:32am | Edited 2:40am
short on e/u . open at 1.3221 close at 1.3177 . +44 pips . close because it just touch ema 200. but the price still gone down another 50 pips...
what will make you think the price will still going down if there is 200 ema as resistance?
do we need to wait until that candle close first ? or just take the profit at 200 ema? ( i scare that the price will suddenly going into pullback mode and reverse.)
  • #6,728
  • Mar 22, 2012 7:38am Mar 22, 2012 7:38am
Quoting Phx62
I have been focused on some major changes/improvements we are making to the family business for the past couple of weeks and will probably be deeply involved for several more weeks....I am still getting some trades in and still doing the due diligence of studying and backtesting a couple of other pairs....just not enough time to keep up with posting and answering PM's.
Had a good morning on the EJ today. I am working on some M15 entries, as well as monitoring and trading the H1 charts.....still a work in progress. I am finding that right now,...
Hi PHX62

First of all, thank you for sharing all your excellent explanations and trades. Since you are one of the most influential members of this thread i would like to ask you for how long are you using this system and how profitable in terms of pips it has been for you?

Im testing the system for 2 days and i was able to get an average of 80 pips /day. Does it sound reasonable. Do you think that a 1000 pips a month its achievable?

Thanks
Thanks
  • #6,729
  • Mar 22, 2012 10:47am Mar 22, 2012 10:47am
Have to admit I thought this system was for me but for the last month or so I have had real problems with it and myself...It's like even if I follow all the rules I seemed to get 'beat' nearly every time...

Lucky I am only on 'demo' as I could neither trust myself or this method with my own cash.

Cheers
Dave.
  • #6,730
  • Mar 22, 2012 11:18am Mar 22, 2012 11:18am
I am finding that what worked last month may not work this month or the next. The market is always changing and subsequently so must your trading system, so to speak. I just need to learn to change with the market and price action.
  • #6,731
  • Mar 22, 2012 12:30pm Mar 22, 2012 12:30pm
Wise words...thanks
  • #6,732
  • Mar 22, 2012 2:23pm Mar 22, 2012 2:23pm
this thread has gone quiet!

anyone get the EU 1HOUR trade at london open this morning??

i was working im afraid, so didnt get it.

mark
  • #6,733
  • Mar 22, 2012 2:38pm Mar 22, 2012 2:38pm
I got it.... + 50 pips
Attached Image (click to enlarge)
Click to Enlarge Name: 22-03-2012 20-13-56.jpg Size: 145 KB
  • #6,734
  • Mar 22, 2012 5:08pm Mar 22, 2012 5:08pm
Quoting Markrc
this thread has gone quiet!

anyone get the EU 1HOUR trade at london open this morning??

i was working im afraid, so didnt get it.

mark

Hi Markrc

I am sure many price action traders with keen eyes for candle patterns and followed this pair continuosly would have caught the setup and traded it.


I was already in a trade since Tokyo session so that setup sort of helped me stay in that trade and manage.

Too bad you missed that, but if only if you can look at your charts every once 4 hours, it may help you find some trades in between your working hours. Some employers may not allow that.

See attached.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD H1 22 Mar PA setup LO.png Size: 68 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,735
  • Mar 22, 2012 5:21pm Mar 22, 2012 5:21pm
Quoting ljin
short on e/u . open at 1.3221 close at 1.3177 . +44 pips . close because it just touch ema 200. but the price still gone down another 50 pips...
what will make you think the price will still going down if there is 200 ema as resistance?
do we need to wait until that candle close first ? or just take the profit at 200 ema? ( i scare that the price will suddenly going into pullback mode and reverse.)
Hi ljin

Good Trade entry!
Getting a good entry is difficult enough, but staying in a trade is even more difficult when we do not have a time tested method.

But you need to work on how to manage trade exits.
There was so much momentun in that one candle alone, so you need to think of how to stay with momentum flow.
Moving averages are simply moving averages nothing more than that, It does not necessarily will stop the market and prices swing around the moving averages all the time.

Have you considered scale-out your trades so that you can ride the flow?

After you have considered scale-out in your trade plan, you may also want to work on how to scale-in trades to capture more profits in a trendy move.

Good Trading!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,736
  • Mar 22, 2012 5:58pm Mar 22, 2012 5:58pm
Some analysis for tomorrows price action.

I missed todays nice move, but looks like there might be another just like it?

I'm expecting price to retrace back to 1.31456 and retest previous support, with a possible further momentum to 1.31160.
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2012-03-23 at 00.56.59.png Size: 24 KB
  • #6,737
  • Mar 22, 2012 9:36pm Mar 22, 2012 9:36pm
Hi,

I took EURJPY H4 long trade.
Reasons:
We are in uptrend
Te price has just turned from the rising trendline
We had a nice hammer (the last red candle before the blue ones)
TDI cross confirmation

Let see how it unfolds.
thrax
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY_H4_strategy name_20120323053023.gif Size: 25 KB
  • #6,738
  • Mar 22, 2012 10:34pm Mar 22, 2012 10:34pm
Quoting emmanuel7788
Hi ljin

Good Trade entry!
Getting a good entry is difficult enough, but staying in a trade is even more difficult when we do not have a time tested method.

But you need to work on how to manage trade exits.
There was so much momentun in that one candle alone, so you need to think of how to stay with momentum flow.
Moving averages are simply moving averages nothing more than that, It does not necessarily will stop the market and prices swing around the moving averages all the time.

Have you considered scale-out your trades so that...
hello emmanuel,
thanks for respond. but i still not understand by what you said regarding scale-out and scale-in . could you give more example?
  • #6,739
  • Mar 22, 2012 11:42pm Mar 22, 2012 11:42pm
Quoting ljin
hello emmanuel,
thanks for respond. but i still not understand by what you said regarding scale-out and scale-in . could you give more example?

Hi ljin,

go back to http://www.babypips.com/school/what-is-scaling.html

read and understand that first, then build this into your trade plan money management and also technically how you will manage your trade exits in a systematic way and maintaiun consistency in doing so.

See those trade examples I posted and you will see how I scale out my intraday trades. I always scale out a portion of my trade at +1R.
Once you see that market is running in your favour, you can later add on positions using your gained profits. This is scale-in and much lower risk or no risk when you trade with bank in profits.
I find that scale out 60% of my trades and let remaining 40% run had better results in overall win rate and system expectancy. Many traders scale out 50% of their trades.
But you will only know how you perform after a serious of 100 trades.
regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,740
  • Mar 23, 2012 12:55am Mar 23, 2012 12:55am
Hello Emmanuel7788,
Thanks for being so open about your strategy / method in all your posts.
Someone mentioned yesterday that X-Man's system wasn't working well for them this month and you have said that the market is cautious. So far, I only trade the H1 and I've noticed that there are fewer recognisable H1 signals recently, which I think fits with your "cautious" comment. I'd be grateful to hear any thoughts you have on this "quiet" period e.g. why it's happening, if it's happened much in the past, if you are getting the usual amount of signals on the H4 method etc.
Thanks
Kan
Thanks for your help, warmth and straight talking Heather.
6 traders viewing now