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  • #7,401
  • May 23, 2012 4:50am May 23, 2012 4:50am
Hi Emmanuel,

Usdcad seems to be exhausted, 4H, 1H cross is down and D1 might go down too.and daily ew channel tells that this might be a turning point, what do you think ?

Okan
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  • #7,402
  • May 23, 2012 12:40pm May 23, 2012 12:40pm
2 live trades both entered at the daily open candle, using X-Mans 4H swing trade rules...both live awaiting exit signals....
J
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  • #7,403
  • May 23, 2012 8:16pm May 23, 2012 8:16pm
Quoting okanemici
Hi Emmanuel,

Usdcad seems to be exhausted, 4H, 1H cross is down and D1 might go down too.and daily ew channel tells that this might be a turning point, what do you think ?

Okan
Hi Okan,

market still bullish on USD.
I see higher target for this pair, 1.032 and 1.04.
W is very bullish and extended beyond the fib-r 161.8%. the rally will consolidate before continuation or reversal, ...wait if you look for sell.

I protect my buy at 1.017 at the last H4 close.
between 1.013 and 1.017 looks safe for me.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #7,404
  • May 23, 2012 8:25pm May 23, 2012 8:25pm
Quoting JamesBranson
2 live trades both entered at the daily open candle, using X-Mans 4H swing trade rules...both live awaiting exit signals....
J

Hi J,

two very good 4H trades.... X-Man classic.
Congrats!

Catching these two setups after a major correction at the 4th week of very trendy move is just amazing what the market can do when we have patience and waited.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #7,405
  • May 23, 2012 8:34pm May 23, 2012 8:34pm
Quoting Fxaddicts
hi emmanuel, thanks for sharing the post, wow, realise this trend is so full of information and sharing. After some time of trading, i came to realise that there is no holy grail, its more of mastering the system you have on hand and really executing it flawless, ya no such thing as flawless so thats where the discipline and money management comes in.
hi james, thanks for sharing your equity curve, its always good to see traders achieving the results they want. i am going to kickstart my backtest as well, will be starting with the 1hr session...

What X-Man said about holy grail:

post #320 ...
http://www.forexfactory.com/showthread.php?p=5175385#post5175385

You are spot on, there is no such thing as a holy grail and people still look for it. I think every trader should make himself or herself into a holy grail by getting enough experience and mastering their system.
When traders go to other systems you will notice theres so many rules upon rules that you have to follow just to pull the trigger then when traders come to this thread you see a small set of rules that you have to master just to pull the trigger. This usually make people scared to pull the trigger because they think they need more rules and indicators to make a trade but in reality its the edge you build with time and experience (its psychological) .
Thats why i recommend traders to read trading in the zone.
Every trade is unique.
Dont expect your system to win every trade , thats impossible. Some traders visit the different systems and as soon the system give then few losses they quit it and look for another system.
Every system will make you lose trades but you have to find a system that will make you win more than lose.
I read somewhere that if your system gives you 55% to 60% wins then thats a good system.
My system gives me 70% to 80% win rate. Thanks to Big E
My system has a small set of rules to follow the rest will be based on back testing and monitoring those times to see how PA moves to master the system.
Then you will just know when you on the wrong side of a trade and can pull out with minimum losses and maximize your profits.
Happy pippin to all you traders.

<unquote>
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #7,406
  • Edited 1:41am May 24, 2012 12:45am | Edited 1:41am
Hi,

just a quick review and update:

I see a previous resistance now turn support.
Will this provide support base for continuation or will market make a major correction or even a reversal anytime soon?

Any key data release coming up?
mm GDP is next week, and when will BoC make its rate annoucement and how will market react to it?

technical wise, PA is trending nice in the rising H4 channel and broken out above the D channel. I have my trades protected at 1.017 and I will look for PA to see if I can add-on positions. Nothing much to say about the TDI right now because PA take the lead.

regards,
Attached Image (click to enlarge)
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #7,407
  • May 24, 2012 2:10am May 24, 2012 2:10am
Quoting Con
Thats right. Back test is the way. Any questions can just post here. Emmanuel will greatly lend his help.

Hi Con,

You just gave me a nice idea .
I will start re-read all of the posts in this thread and will compile a FAQ for S3.
When the FAQ is ready, I shall send it to X-Man and he can add this as appendix to his book.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #7,408
  • May 24, 2012 2:25am May 24, 2012 2:25am
Hi,

a very quiet Tokyo 5H ... only 25pips.
TDI not so nice to look at now ... LO no sign of TDI cross or bounce.

Question: Will you trade a TDI cross or bounce during the London session later?

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #7,409
  • May 24, 2012 8:07am May 24, 2012 8:07am
Where did you enter this trade Emmanuel?
J


Quoting emmanuel7788
Hi,

just a quick review and update:

I see a previous resistance now turn support.
Will this provide support base for continuation or will market make a major correction or even a reversal anytime soon?

Any key data release coming up?
mm GDP is next week, and when will BoC make its rate annoucement and how will market react to it?

technical wise, PA is trending nice in the rising H4 channel and broken out above the D channel. I have my trades protected at 1.017 and I will look for PA to see if I can add-on positions. Nothing much to say about...
  • #7,410
  • May 24, 2012 8:40am May 24, 2012 8:40am
Quoting emmanuel7788
Hi,

just a quick review and update:

I see a previous resistance now turn support.
Will this provide support base for continuation or will market make a major correction or even a reversal anytime soon?

Any key data release coming up?
mm GDP is next week, and when will BoC make its rate annoucement and how will market react to it?

technical wise, PA is trending nice in the rising H4 channel and broken out above the D channel. I have my trades protected at 1.017 and I will look for PA to see if I can add-on positions. Nothing much to say about...
Eur in general area of key support levels Oct '08 - Feb '09 and Jan '12 easiet seen from M charts, gu key S level from 14 Feb - 15 Mar. This can obviously rub off on cad.

Mrs V got a nice trend sell on eur this am. Todays close and tomorrows pa will be interesting as to whether the bounces up on eur and gu follow through or not.

These 'turn areas' can be the trickiest to trade. At the moment though my view is downtrend intact and the current bounce is a reaction to key levels. It'll stay that way until we have more definitive pa, 1 positive D close (if that happens today) won't be enough (e.g. see eur 18 and 21 May and subsequent drop off again). So any buys will be viewed as CT for now even with the hints of divergence starting to show.

When you change your view with real money, not demo (anyone can be a hero picking the bottom on demo posting the 1 trade that worked out) and start buying eur/gu is the key, for us still to early.
  • #7,411
  • May 24, 2012 5:46pm May 24, 2012 5:46pm
Quoting emmanuel7788
Hi Okan,

market still bullish on USD.
I see higher target for this pair, 1.032 and 1.04.
W is very bullish and extended beyond the fib-r 161.8%. the rally will consolidate before continuation or reversal, ...wait if you look for sell.

I protect my buy at 1.017 at the last H4 close.
between 1.013 and 1.017 looks safe for me.

regards,
Thanks Emmanuel.
  • #7,412
  • May 24, 2012 7:22pm May 24, 2012 7:22pm
Hi,

Here is the beauty of d1 4h 1h tdi confluence.Shorted gbpnzd with the asian session and is paying off.D1 is also down, since nzd get strenght back against gbp eur chf this week, this baby is ready to ride for a long ride down I guess.

Regards,

Okan
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  • #7,413
  • May 24, 2012 8:05pm May 24, 2012 8:05pm
Quoting JamesBranson
Where did you enter this trade Emmanuel?
J

Hi J,

it was D entry 09May 1.00814

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #7,414
  • May 24, 2012 8:25pm May 24, 2012 8:25pm
Quoting Vantage
Eur in general area of key support levels Oct '08 - Feb '09 and Jan '12 easiet seen from M charts, gu key S level from 14 Feb - 15 Mar. This can obviously rub off on cad.

Mrs V got a nice trend sell on eur this am. Todays close and tomorrows pa will be interesting as to whether the bounces up on eur and gu follow through or not.

These 'turn areas' can be the trickiest to trade. At the moment though my view is downtrend intact and the current bounce is a reaction to key levels. It'll stay that way until we have more definitive pa, 1 positive...

Hi Vantage,

Like always, I like your big picture view on EU and GU and alwasy look forward to your posts. Will take your input and update my plans after this week close.
Right now, the majors are taking a beating with USD strength. But I see there are some lessons to learn on market structure and price behaviour just by looking back at the last few week.
Have seen some good videos explanation by this chap Mike Badgdady on this topic.
Trying to pick the turnaround point is not easy. Has failed many times before, therefore I tend towards being more conservative when picking trade entry.
Someone recently asked about when do we know if a reversal is confirmed a reversal. He got many variety of answers from using MAs, fibos, pivots, etc. There are so many different school of thoughts. My short experience tell me I have to pick one technical method and stick to that consistently.

Good thing you pointed out about real money and demo trading. I learned many expensive lessons in the last 5 years ago when switching from demo to live trading of a few systems. It is never the same because of the psychological espects in trading. But I like Big E' approach how he trade with real money.

Thanks.

Have a great weekend!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #7,415
  • May 24, 2012 8:45pm May 24, 2012 8:45pm
hi guys, i've been trying to use this system but to no avail. I've only been using the 1H charts. Am i doing something wrong? I wait for the green to cross the red first and on the start of the second candle after the cross, i would enter. but it always seems like i enter too late. It seems like I only enter at the bottom of the trade. Should I go to the 30min chart and take a look first?

Am I supposed to look at the position of the TDI? Like if it is at the 32 mark, I should be looking for a long and if it's at the top, I should look for a short?
Am I to use any other indicators with this? Do I follow the direction of the yellow line?

When would you actually exit? I exit when the green line forms a check mark or when it starts going flat. But sometimes, I would hold on because I believe that the price would still continue going with the trend but in the end, I end up wrong. I try to look for resistance and supports as well and determine if it will bounce off them.

Do I always leave the the lines on my chart once the S/R has been broken?
  • #7,416
  • May 24, 2012 8:47pm May 24, 2012 8:47pm
Quoting okanemici
Hi,

Here is the beauty of d1 4h 1h tdi confluence.Shorted gbpnzd with the asian session and is paying off.D1 is also down, since nzd get strenght back against gbp eur chf this week, this baby is ready to ride for a long ride down I guess.

Regards,

Okan
Hi, how do you get the TDI MTF to show the different TF? Btw, when you say confluence, what do you mean? DOes it mean all the TDIs start to show the same thing?
  • #7,417
  • May 24, 2012 8:55pm May 24, 2012 8:55pm
Quoting okanemici
Hi,

Here is the beauty of d1 4h 1h tdi confluence.Shorted gbpnzd with the asian session and is paying off.D1 is also down, since nzd get strenght back against gbp eur chf this week, this baby is ready to ride for a long ride down I guess.

Regards,

Okan

Hi Okan,

..confluence and multitimeframe analysis is a good approach.

but if you like to play with MTF indicators, there are some created for Big E' Trading Made Simple system. But I remember X-Man warning on using too many indicators. PA being the king!

They are in this forum Platform Tech section.
http://www.forexfactory.com/showthread.php?t=294327

the one TMS Osc Hist sure save some screen space.

I am knocking off early today. Got many home chores to do.

Have a great weekend!

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #7,418
  • May 24, 2012 9:21pm May 24, 2012 9:21pm
Hi,

Exactly 6 months ago X-Man started this thread.
Personnally I have benefitted a lot following this thread and also learn some new things which help me prove that I was wrong in some of the other things I was doing trading other systems. Besides, I have found many new like-minded people who have become friends across the great oceans on this planet. For these I am very grateful.
Thank you everyone.

But, for many newcomers to this thread, I know it is challenging to read all the 7,000 plus post. It would be rash for me to reply your questions by telling you to go and start at post#1. I know that hurt some people when the replies came in this way.

The success and failures we can learn in just this one thread. It is still a great place to be in and I look forward to more exchanges and sharing of trades, ideas, suggestions, constructive critics, experiences, etc. and make trading simple and a pleasant life learning experience.

What did X-Man said about those who are still 'bit blurry'?

Post 216
http://www.forexfactory.com/showthread.php?p=5172643#post5172643
The guys from the trading made simple thread have a better understanding.
So if the rules and the method is a bit of blurry then i recommend this :

1. babypips.com
2. Trading made simple thread in this forum by eelfranz
3. videos regarding TDI by dean malone on compass FX
4. read trading in the zone by mark doughlas
5. X-mans S3

this thread developed from trading made simple thread thats where my success started. My thread is more refined and precise.


<unquote>
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #7,419
  • May 25, 2012 8:38am May 25, 2012 8:38am
Price moved up to general area of Y's high/2600, gave some clear candle signals to revert back to downtrend Mrs V grabbed some fairly straight forward pips, selling 2575 and exited when price dropped to 2520 area.
  • #7,420
  • May 25, 2012 9:33am May 25, 2012 9:33am
not able to get three TDI on same tf
can any one help me plz
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