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X-Man's Super Simple System

  • #7,101
  • Edited 4:01am Apr 12, 2012 3:10am | Edited 4:01am
I'm short on A/U and long on U/C. Above is ADR High+ strong resistance level.

Edit: SL U/C -17 pips. And closed A/U -15 pips as it seems price go other way.
  • #7,102
  • Apr 12, 2012 4:27am Apr 12, 2012 4:27am
Choppy trading and candles on a lot of pairs, no clear trends.

Hopefully when US opens we will see some clear trades.
  • #7,103
  • Apr 12, 2012 6:21am Apr 12, 2012 6:21am
Hi,
Today PA when Frankfurt and London open is quite similar to yesterdays.
Price get driven down and up.
It is getting higher and nearer to the week resistance. Wait and see if that will be broken later
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD week 15 12-4-2012 6-54-57 PM.png Size: 22 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #7,104
  • Apr 12, 2012 6:22am Apr 12, 2012 6:22am
Quoting emmanuel7788
Hi,
Looking to long EU today if PA break and close above WPv 1.3147 and yesterday high 1.3155.
yeah, im looking for long too. waiting for NY open to look for opportunity (using X-Man method).

it so far, no clear sign, choppy market.

Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 30 KB


p/s i make the chart empty so can have clearer picture. when i trade i use X-Man indie.
  • #7,105
  • Apr 12, 2012 6:22am Apr 12, 2012 6:22am
i hate choppy market..... only can scalp .
but i see some bearish divergence and double top on h1 . and with the major news for US. i guess we will see bearish? but who knows. let see some more clear signal first
  • #7,106
  • Apr 12, 2012 6:25am Apr 12, 2012 6:25am
Hi,

Took a trade this morning Tokyo session on seeing good H4 momentum and PA is above ther weekly pivot and also today' DPv.
Under such choppy market condition, rather take small trades on seeing good setups instead of wating for LO.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD H1 12 Apr trade 12-4-2012 7-09-22 PM.png Size: 49 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #7,107
  • Apr 12, 2012 6:35am Apr 12, 2012 6:35am
Quoting capab
yeah, im looking for long too. waiting for NY open to look for opportunity (using X-Man method).

it so far, no clear sign, choppy market.

Attachment

p/s i make the chart empty so can have clearer picture. when i trade i use X-Man indie.

I like your clean charts... can see better the price behaviour. Sometimes the APB is distracting.

I jumped in earlier at 1.31245, now got to see how this current H1 candle will close. can add later if price move above 1.3155 and show sign of continuation.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #7,108
  • Apr 12, 2012 6:48am Apr 12, 2012 6:48am
Hi,

just partial closed my trade before NYO.
Remaining position now BE to see whether there will be continuation when NYO.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD H1 12 Apr trade 12-4-2012 7-42-55 PM.png Size: 29 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #7,109
  • Edited 1:19pm Apr 12, 2012 10:31am | Edited 1:19pm
Hi,

Any idea why did X-Man abandone his own thread? I have seen that he was active with some posts in another thread.

Take care
  • #7,110
  • Apr 12, 2012 5:09pm Apr 12, 2012 5:09pm
Quoting rbuki
Hi,

Any idea why did X-Man abandone his own thread? I have seen that he was active with some posts in another thread.

Take care
See this link to a post made by Britpip7 where he answered this question.
  • #7,111
  • Apr 12, 2012 5:39pm Apr 12, 2012 5:39pm
Quoting nGoldenm
Choppy market conditions, but a few pairs met my criteria earlier.

AUDUSD - LONG

Attachment

Entered on close of first blue candle, channel touch, TDI cross of TSL and MBL. Closed on second failed test of the 60EMA. I didn't like the PA of this one. Not really nice strong momentum. +24 pips

NZDUSD - LONG

Attachment

Same story, but no channel touch. Was trading the bounce up from the 60EMA. Exited for the same reasons as above, not liking the choppy price action or dedication to the up...
Lesson learned here. Looking back, I exited these trades based largely on emotion and less so on actual evidence. I was afraid (read: fear) of letting these draw down out of profit. So, I'm going to refine my exits from here on. I picked the correct direction on each one of these based on this strategy, PA, forex basics analysis. Once opened, I will trust my strategy and let it run it's course. If I get stopped out, then so be it, as it was clearly the wrong decision in the first place. Also, my trading style allows me to leave the trades open for days in order to run their course, so draw downs are inevitable.

If these were left to run without emotions coming into the picture, I would have grabbed 350 pips (and still going) vs the 40 pips that I exited with.

If anyone has any comments/suggestions, I'm eager to hear them and learn. Thanks guys, and happy pippin!
  • #7,112
  • Edited 8:04pm Apr 12, 2012 7:51pm | Edited 8:04pm
Quoting nGoldenm
Lesson learned here. Looking back, I exited these trades based largely on emotion and less so on actual evidence. I was afraid (read: fear) of letting these draw down out of profit. So, I'm going to refine my exits from here on. I picked the correct direction on each one of these based on this strategy, PA, forex basics analysis. Once opened, I will trust my strategy and let it run it's course. If I get stopped out, then so be it, as it was clearly the wrong decision in the first place. Also, my trading style allows me to leave the trades open for...
Hi,

I sense that you do have a lot composure while trading and is a very good attribute as a trader. We need to have clarity in our minds when we manage our trades.
Exit management is one of the key to maximise profits in all trading. This being a H4 trade, the initial Risk SL is much larger and trade will take longer time to complete.

Trade management require us to manage our exits at different stages of the market movement. Easy to say, but not an easy thing to do. I choose to do it in a mechanical way either by trailing my stops using the PAC on H4 and also by trailing in protecting a percentage of the market move.

Knowing the market type and the price behaviour is important. This will help us in deciding which exit management method to use for our trades. In sideway market, I prefer to scale-out and wait for the next breakout.

In different market type, price tends to pause or may retrace at support and resistance levels. What ever we use to determine support and resistance is a matter of trader’s choice. What is important is to apply that consistently.
When price pauses at S&R levels, we have a few options:
1. Scale -out some positions with profits and hold remaining positions and later look for add back when there is continuation setups.
2. Simply hold and manage our trade stops.
3. Scale-in on retracement using banked-in profits.

regards,


2 recommended books to read: by Dr Van Tharp
Super Trader,
Trade Your Way to Financial Freedom
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD H4 week 15 pomo13-4-2012 8-21-08 AM.png Size: 77 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #7,113
  • Apr 12, 2012 11:55pm Apr 12, 2012 11:55pm
Goodmorning Guys

I seen that some traders are concerned to my where abouts.
I just want to say that this system is still the system that i use everyday. Yes I do lurk in other threads as am i looking for and developing a scalping system.

If one reads the Pfd thats posted in post one and read the important posts in this thread then a trader will be able to master this system and be a profitale trader.

Ive just had my hands full for the past few weeks as i am managing few accounts and expanding my knowledge on Price action so i will be able to adapt to any situation at any time. This allows me to be one step ahead of the rest.

Be assured that im not indicator crazy i like to keep my charts clean and simple all the time. The indicators on post one is more than enough the rest is up to you to learn PA. PA is King
X-man the legendary conqueror of markets
  • #7,114
  • Apr 13, 2012 1:30am Apr 13, 2012 1:30am
Great to know that you are well and happy , and thanks for all you've done for so many of us noobies
ROB
  • #7,115
  • Apr 13, 2012 1:33am Apr 13, 2012 1:33am
Great to see u X-MAN,hope everything is good to u and thanks for bring the system to us.
  • #7,116
  • Apr 13, 2012 2:21am Apr 13, 2012 2:21am
Hi,

anyone trading EU S3 H1 LO?

continuation or reversal?
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD S3 H1 question 13-4-2012 3-18-02 PM.png Size: 44 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #7,117
  • Apr 13, 2012 2:37am Apr 13, 2012 2:37am
Quoting emmanuel7788
Hi,

anyone trading EU S3 H1 LO?

continuation or reversal?
Entered EU Long @ 1.3162 SL=1.3142, TP=1.3225

arasheed
  • #7,118
  • Edited 2:56am Apr 13, 2012 2:40am | Edited 2:56am
Quoting emmanuel7788
Hi,

anyone trading EU S3 H1 LO?

continuation or reversal?
i am trading on that one. to be honest now i am hesitant. i am going for long but h4 saying otherwise + a pullback candle on my chart ( but it suppose to be a small retracement). i already put my SL and TP. so i will leave it until there is a clear signal to exit or else i will let it hit my SL or TP..
  • #7,119
  • Apr 13, 2012 2:51am Apr 13, 2012 2:51am
Quoting arasheed
Entered EU Long @ 1.3162 SL=1.3142, TP=1.3225

arasheed
that is a good price to enter.
  • #7,120
  • Apr 13, 2012 2:59am Apr 13, 2012 2:59am
Quoting ljin
that is a good price to enter.
I hope so. I will put a 20 Pip Trailing Stop when it moves further and later if possible remove TP.
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