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  • #6,761
  • Mar 23, 2012 12:27pm Mar 23, 2012 12:27pm
Quoting emmanuel7788
Hi ljin,

Trading has becomes intuitive after many many many hours of practice. Keep practicing and learn from every trade you did. Do your journal and write down your thoughts for each of your trades with a chart. It will help you in developing to be a better trader.
When you clock your 10,000 trading hours you will be as good as I am.

Keep at it!
Ah I see. I hope I can become better like you soon.
But am I right that you are entering the trade after that big movement before because Asian session move a little and plus with that movement counted together only like 50 Pips .and that is normal for Asian session. So it is just like another normal day. The only different is the signal appeared earlier with 50 pips on a candle instead of gradually counted from more than 1 candle.
I hope you can understand what I am saying. Since I am not that good with english
  • #6,762
  • Mar 23, 2012 2:31pm Mar 23, 2012 2:31pm
Attached are 6 trades I took on the EU this week.....1 of the trades was entered from the M15 chart because PA was pulling back from the low of the session.....the other 5 trades were all taken on the H1 chart. I just followed my trading plan based primarily on the TMS & X-Man methods.
If you have not visited the Pro Traders website (recommended by X-Man and Dcginc), please do so....I have picked up some information on market harmonics and the use of fibs from the free articles and videos posted there by Dcginc (Rick). That information has helped me see the market in a different way, making my entries more certain. http://www.protradenetwork.com/
Good trading to all.
Attached Image (click to enlarge)
Click to Enlarge Name: 2012.3.23 EU week.jpg Size: 137 KB
  • #6,763
  • Mar 23, 2012 3:38pm Mar 23, 2012 3:38pm
Quoting Phx62
Attached are 6 trades I took on the EU this week.....1 of the trades was entered from the M15 chart because PA was pulling back from the low of the session.....the other 5 trades were all taken on the H1 chart. I just followed my trading plan based primarily on the TMS & X-Man methods.
If you have not visited the Pro Traders website (recommended by X-Man and Dcginc), please do so....I have picked up some information on market harmonics and the use of fibs from the free articles and videos posted there by Dcginc (Rick). That information has helped me see the market in a different way, making my entries more certain. http://www.protradenetwork.com/
Good trading to all.
Phx62 = "THE S3 PIP MONSTER MACHINE" 373 pips in 1 week on 1 pair

keep posting your weekly trades it's highly educational and it shows others that we can do it if we just take the time to study 1 currency at a time and Learn it's PA habits, also by following a plan and sticking to it, which usually any K.I.S.S Trading plan has better results, just like the S3 Strategy.

keep up the great trading

Don't forget Practice + Patience + Persistence = Profits
  • #6,764
  • Mar 23, 2012 4:08pm Mar 23, 2012 4:08pm
Quoting Phx62
Attached are 6 trades I took on the EU this week.....1 of the trades was entered from the M15 chart because PA was pulling back from the low of the session.....the other 5 trades were all taken on the H1 chart. I just followed my trading plan based primarily on the TMS & X-Man methods.
If you have not visited the Pro Traders website (recommended by X-Man and Dcginc), please do so....I have picked up some information on market harmonics and the use of fibs from the free articles and videos posted there by Dcginc (Rick). That information has helped...
Good work , no stop - all profits .
  • #6,765
  • Mar 23, 2012 4:46pm Mar 23, 2012 4:46pm
Quoting Phx62
Attached are 6 trades I took on the EU this week.....1 of the trades was entered from the M15 chart because PA was pulling back from the low of the session.....the other 5 trades were all taken on the H1 chart. I just followed my trading plan based primarily on the TMS & X-Man methods.
If you have not visited the Pro Traders website (recommended by X-Man and Dcginc), please do so....I have picked up some information on market harmonics and the use of fibs from the free articles and videos posted there by Dcginc (Rick). That information has helped...

Hi Phx62

Congrats again to another super S3 H1 EU week.
The chart of your trades shows that you have super intuition of the EU hourly market behaviour. Simply Awesome!

Questions:
With this pair recent smaller trading range of both Euro and US session, how has this change your view of the market and also your trading plan?

Are you still trading with 50pips SL / 50pips TP at initial entry?

Thanks and regards,
ET
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,766
  • Mar 23, 2012 5:09pm Mar 23, 2012 5:09pm
Quoting thrasher88
Hey Emmanuel,

Could you please tell me which indicators you use for your pivots and ADR. Also, what period do you use for your ADR? I see some people use 10 days, 14 days. I started this method on TMS and it seemed easy but I've realized I'm going to have to get more insight into price action if I'm going to become consistent. Basically I've been up 2% then down 2% and wind up pretty much at break even everytime... Thanks in advance for your help!

Hi thrasher

For the daily pivots use the SonicR one on post #3626

and the !SM ADR Marker is post#3208 or follow this link below:
http://www.forexfactory.com/showthre...92#post5321992

I use the default settings.
For trade planning and better understanding of the market volatility of each currency pair, I look at the average true range ATR for different periods - 5,10,15,20 and 100, do this for H1. H4, D and W.

To be consistent in trade results you will need a tested method in managing your trade exits. Knowning price action will help learn the market sentiments behind these price action patterns which is use indentifying trade setups and also planning your trade exits.
But for S3 H1 method for intraday trading, I would keep it as simple as possible with target profit setting and preferred risk reward.

Hope this answers your question adequately.

Have a good weekend!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,767
  • Mar 23, 2012 5:28pm Mar 23, 2012 5:28pm
Quoting ljin
Ah I see. I hope I can become better like you soon.
But am I right that you are entering the trade after that big movement before because Asian session move a little and plus with that movement counted together only like 50 Pips .and that is normal for Asian session. So it is just like another normal day. The only different is the signal appeared earlier with 50 pips on a candle instead of gradually counted from more than 1 candle.
I hope you can understand what I am saying. Since I am not that good with english

Hi lijn,

here is your weekend homework/practice:

> shaded the Tokyo session first 5 hours bars high and low
> draw two lines, top line for the high and bottom line for the low

like in the attached chart example.

when this first 5 hours is narrow ~ 30pips, the breakout is usually very strong burst.

when the range is 40 to 60 pips, the BO is not that strong.

turnaround trade - if you are caught in the wrong direction of the breakout, you get stopped out and you reverse your trade.
at worst case, you get stopped out 2 times but 3rd you will be correct.

with some experience, you should be able pick the breakout direction correctly at least 65% of the time.

you need to think of money management, position sizing and managing exits, scaling-in and scaling-out and have all these build into your trading plan for such kind of breakout trades. S3 H1 is the technical method to use.

Now start your weekend homework.

have a good one!
Attached Image (click to enlarge)
Click to Enlarge Name: Asian 5 hour High Low.png Size: 29 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,768
  • Mar 23, 2012 6:17pm Mar 23, 2012 6:17pm
Quoting emmanuel7788
Hi thrasher

For the daily pivots use the SonicR one on post #3626

and the !SM ADR Marker is post#3208 or follow this link below:
http://www.forexfactory.com/showthre...92#post5321992

I use the default settings.
For trade planning and better understanding of the market volatility of each currency pair, I look at the average true range ATR for different periods - 5,10,15,20 and 100, do this for H1. H4, D and W.

To be consistent in trade results you will need a tested method in managing your trade exits. Knowning price...
Thank you very much Emmanuel, this is a great answer and these things will help me very much once I study up. I can already see reasons why I shouldn't have taken certain trades recently.
  • #6,769
  • Mar 23, 2012 7:02pm Mar 23, 2012 7:02pm
I hope and pray everyone won't take this the wrong way. But it's sooo easy to post charts of just winning trades at the end of the week on a forum and show how many pips I have won, but there is no credibility in that process? Why? Because anyone can show a chart in hindsight and draw some lines on it.

I don't wish to discredit anyone but for me the real exceptional traders are those that post/announce when they open a position and their reason behind it and also when they close. Thats where the credibility is!

Hardly anyone does that, and those that do even the experienced traders don't always get it right.

My challenge is post screen shots of when you opened a position and your reason behind it and when you closed it.

That I would love to see more often here.

Quoting maxzeus
Phx62 = "THE S3 PIP MONSTER MACHINE" 373 pips in 1 week on 1 pair

keep posting your weekly trades it's highly educational and it shows others that we can do it if we just take the time to study 1 currency at a time and Learn it's PA habits, also by following a plan and sticking to it, which usually any K.I.S.S Trading plan has better results, just like the S3 Strategy.

keep up the great trading

  • #6,770
  • Edited 8:48pm Mar 23, 2012 8:35pm | Edited 8:48pm
Quoting nonfiction
I hope and pray everyone won't take this the wrong way. But it's sooo easy to post charts of just winning trades at the end of the week on a forum and show how many pips I have won, but there is no credibility in that process? Why? Because anyone can show a chart in hindsight and draw some lines on it.

I don't wish to discredit anyone but for me the real exceptional traders are those that post/announce when they open a position and their reason behind it and also when they close. Thats where the credibility is!

Hardly anyone does that, and those...
I totally understand your point and i agree it's easy to post all winning trades on a chart, but some earned their credibility like PHX did... IMO, i would'nt be posting that if it was someone with 10 posts, but it's true that screenshots of the trades would be better, but even that is to easy to modify.

But on this site their is a tool thats similar to Myfxb00k that traders can use to show their trading results without divulging any personnal info or credentials of the trading account, behold FF's Trade Explorer

- you can set your own (click below or by clicking on your username and on the "Trades Explorers" link on the left)

http://www.forexfactory.com/profile.php?do=explorer

- for an example heres my Demo TRADE EXPLORER i created to test an EA (please note that my results are caused by multiple strategies and tweaks)

http://www.forexfactory.com/maxzeus/68

- you can also see lots of traders using it (click below or by clicking the "TRADES beta" tab above these forums)

http://www.forexfactory.com/trades.php

i recommend to try it out on Demo or Live, it's an excellent tool for any level of traders to view their results or progress. it only requires The investor password of MT4 which it allows read-only access to the account, which is "view only mode" Read why this is safe.

hope this helps

have a nice weekend all

Don't forget Practice + Patience + Persistence = Profits
  • #6,771
  • Mar 23, 2012 11:56pm Mar 23, 2012 11:56pm
Quoting nonfiction
I hope and pray everyone won't take this the wrong way. But it's sooo easy to post charts of just winning trades at the end of the week on a forum and show how many pips I have won, but there is no credibility in that process? Why? Because anyone can show a chart in hindsight and draw some lines on it.

I don't wish to discredit anyone but for me the real exceptional traders are those that post/announce when they open a position and their reason behind it and also when they close. Thats where the credibility is!

Hardly anyone does that, and those...
Here's my 2 cents as an active trader:

Not to post reasons one way or the other really, but I usually post the set-ups for upcoming trades. Once that is done then I set up my own trades usually "Pending Trades" as buy or sell stops - I will not see the trades until after they are in progress. I do post progress each day for active trades and show the ongoing trade management from a day chart perspective.

One thing that I am now doing is copying the account history statements and running some additional calculations in Excel to show pips and % P/L as well as posting the stats as a screenshot. I'll probably do this monthly seeing as it is easy to run that from MT4.

Current stats for this month are (not pip waving, just to demonstrate that the TMS approach with the associated modifications is alive and working and can be achieved with a couple of hours effort a day - I only enter off of day chart set-ups):

Total trades: 25
Profit: 21 = 84%
Loss: 4
Pips won (Gross Profit): 1011
Pips Lost: 106
Net Gain: 905 pips

I have heard the credibility arguments before and my response is that I have no spare time nor the inclination to "make up stuff to look good" and I am not setting up other sites for posting account / trade summaries - too many other things going on really.

One really good point that you touched on was journalling - reasons for entry / exit and whether you do this in Excel, hand written notes or whatever, it is a great way to learn and grow in your trading styles and techniques. I have a powerpoint file that I keep for trade journals - again, time permitting which is a rotten excuse - example attached.

X-Man - hope you are well - catch up with you soon. Keep up the great work - awesome stats on the thread
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Trade Journal.GIF Size: 97 KB
Click to Enlarge Name: Britpip7 Trade History March 2012.GIF Size: 42 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #6,772
  • Mar 24, 2012 12:10am Mar 24, 2012 12:10am
Quoting emmanuel7788
Hi Phx62

Congrats again to another super S3 H1 EU week.
The chart of your trades shows that you have super intuition of the EU hourly market behaviour. Simply Awesome!

Questions:
With this pair recent smaller trading range of both Euro and US session, how has this change your view of the market and also your trading plan?

Are you still trading with 50pips SL / 50pips TP at initial entry?

Thanks and regards,
ET
Emmanuel....yes, I still enter every EU H1 trade with a 50 pip SL & 50 pip TP, then adjust as each trade progresses. I try to only enter trades during the London session unless NY news moves the market a lot....basically I look for a high or low to form early in the London session and then ride it out. From studying & back testing I find that the London session usually sets the high and low most days on the EU. As you know the market moves in waves but most times the trend will continue following small retacements.
Good luck to you.....I enjoy reading your analysis.
  • #6,773
  • Mar 24, 2012 6:03am Mar 24, 2012 6:03am
Quoting maxzeus
I totally understand your point and i agree it's easy to post all winning trades on a chart, but some earned their credibility like PHX did... IMO, i would'nt be posting that if it was someone with 10 posts, but it's true that screenshots of the trades would be better, but even that is to easy to modify.

But on this site their is a tool thats similar to Myfxb00k that traders can use to show their trading results without divulging any personnal info or credentials of the trading account, behold [url="http://www.forexfactory.com/trades.php"][b]FF's...
Hi Maxzeus
Thank you very much for such informative posting, I opened my account "arasheed" successfully.

Thanks again

arasheed
  • #6,774
  • Mar 24, 2012 6:07am Mar 24, 2012 6:07am
Quoting Phx62
Emmanuel....yes, I still enter every EU H1 trade with a 50 pip SL & 50 pip TP, then adjust as each trade progresses. I try to only enter trades during the London session unless NY news moves the market a lot....basically I look for a high or low to form early in the London session and then ride it out. From studying & back testing I find that the London session usually sets the high and low most days on the EU. As you know the market moves in waves but most times the trend will continue following small retacements.
Good luck to you.....I enjoy...
Phx62

how do you think it's best to determine the best high/low? do you look only to the yesterday high/low? or do you use any other indicator to show h1 or h4 high/low?

thank you
  • #6,775
  • Mar 24, 2012 7:16am Mar 24, 2012 7:16am
where's the last version of system?
  • #6,776
  • Mar 24, 2012 9:42am Mar 24, 2012 9:42am
Quoting hipofiz
where's the last version of system?
Post 1
  • #6,777
  • Mar 24, 2012 9:42am Mar 24, 2012 9:42am
Quoting nonfiction
I hope and pray everyone won't take this the wrong way. But it's sooo easy to post charts of just winning trades at the end of the week on a forum and show how many pips I have won, but there is no credibility in that process? Why? Because anyone can show a chart in hindsight and draw some lines on it.

I don't wish to discredit anyone but for me the real exceptional traders are those that post/announce when they open a position and their reason behind it and also when they close. Thats where the credibility is!

Hardly anyone does that, and those...

I am not sure how it would help others if a trader open up a position and post it immediately. Firstly, the trader is more engaged in managing his own trade then to do posting. Secondly, it poses a danger that other traders will simply take the positions because someone else has taken it and can get burned without understanding the rationale behind it. Its merely copying as I don't see any learning part over here and probably they would also wish to be informed when to get off the money train - lol.

To be honest, it should not bother anyone if someone is making 1,000 pips in reality or posting only win trades to satisfy his ego and feel good about it.

What a trader should be concerned about is how to make money for himself and how to manage his own bottom line.
Forex is boring but profitable with patience and discipline
  • #6,778
  • Mar 24, 2012 9:47am Mar 24, 2012 9:47am
Quoting prftablefool
I am not sure how it would help others if a trader open up a position and post it immediately. Firstly, the trader is more engaged in managing his own trade then to do posting. Secondly, it poses a danger that other traders will simply take the positions because someone else has taken it and can get burned without understanding the rationale behind it. Its merely copying as I don't see any learning part over here and probably they would also wish to be informed when to get off the money train - lol.

To be honest, it should not bother anyone if...
LIKE
  • #6,779
  • Mar 24, 2012 11:17am Mar 24, 2012 11:17am
Quoting Phx62
I don't stay awake for all that time. I live in Arizona and usually only trade the 9 hours of the London session. Yesterday, I opened the charts before going to bed and entered the first trade during the Asian, then went to sleep. I am older and don't have children at home anymore and don't sleep as much as I used to, so I concentrate on trading the London session. I set an alarm at the top of every hour during London and check for movements or TDI crosses. If I enter a trade, I usually monitor it until it moves 25 or 30 pips in my direction and...
Hi PHX62

Im new to this forum and has been reading the whole thread.
I am demo trading for 3 days and have been profitable so far (+250 pips)
This system is a real jewel of crown.
I heard you speak about an EA.
Is it something you can share?
can you explain what it does?

thanks a lot for your contributions.
  • #6,780
  • Mar 24, 2012 11:24am Mar 24, 2012 11:24am
Quoting Phx62
Emmanuel....yes, I still enter every EU H1 trade with a 50 pip SL & 50 pip TP, then adjust as each trade progresses. I try to only enter trades during the London session unless NY news moves the market a lot....basically I look for a high or low to form early in the London session and then ride it out. From studying & back testing I find that the London session usually sets the high and low most days on the EU. As you know the market moves in waves but most times the trend will continue following small retacements.
Good luck to you.....I enjoy...
Thanks for sharing great post....
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