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  • #7,461
  • Jun 6, 2012 12:35am Jun 6, 2012 12:35am
Hi,

well after following this pair for past 2 weeks, I just took my eyes off the charts for few hours and lost sight of the opportunity.
Sigh!

Missed the train, so got remain on the platfrom and wait for the next one.
That's the trader's life.

regards,
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD week 23 missed trade 6-6-2012 1-27-24 PM.png Size: 62 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #7,462
  • Jun 6, 2012 12:52am Jun 6, 2012 12:52am
Quoting Adam888
I want to say thank you all of you.
especially X-man and Phx62.
I am still reading old posts and start backtest since few days ago.
but i saw really useful things of your method and trading philosophy.
I will keep learning ,Thank you!

Hi Adam,
Welcome to this S3 trading family.
I am always delighted to read new mebers making their 1st post.
For me, I still go back and read X-Man' posts over and over again.
There are so many lesson I learn reading his post because he make some discretionay decision when he trades. These are in addition to the simple rules he wrote in the S3 pdf files. His decision comes from the many hours he spent following the market and this build up his experience and wealth of knowledge. Often times, it is not easy to write down one' experience in simple posting. There are written rules, there are also unwritten rules. We need to make the judgement everyday when to break some rules. That comes from experience and how one manage his/her trading psychology.

I am still practicing what I learn from this thread. It is hardwork and long hours but it is worth it. It is one way to achieve financial freedom.

Good Trading!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #7,463
  • Jun 6, 2012 1:14am Jun 6, 2012 1:14am
hi emmanuel, do you go into smaller TF to determine your entry? if yes, how do you do it?
Let's say you see the TDI starts to cross on the H1, do you wait for it to close, confirm that it has crossed and then go to a smaller TF to determine entry? Once you go into the smaller TF, do you still wait for the TDIs to point in the same direction as the H1?
  • #7,464
  • Jun 6, 2012 1:51am Jun 6, 2012 1:51am
LONDON IS opening in about 10mins time, i see tdi crossing down n stocastic coming back down from 80 level, candle sticks also showing a bearish engulfing pattern, i am waiting for it to break the previous week low before i will enter in on my short which is 1.2460, i was feeling super tempted to enter earlier on when i see that it could not breach the 1.2515 level and the candles change colour.
  • #7,465
  • Jun 6, 2012 2:41am Jun 6, 2012 2:41am
Quoting emmanuel7788
Hi Adam,
Welcome to this S3 trading family.
I am always delighted to read new mebers making their 1st post.
For me, I still go back and read X-Man' posts over and over again.
There are so many lesson I learn reading his post because he make some discretionay decision when he trades. These are in addition to the simple rules he wrote in the S3 pdf files. His decision comes from the many hours he spent following the market and this build up his experience and wealth of knowledge. Often times, it is not easy to write down one' experience in simple...
Thank you emmanuel7788 my friend
When I read this threat few days ago.I am attracted deeply.
So many things but true.
I save many photos and posts from here,re-read it time to time.
every time i reread it ,always discover something i missed.
price action,time zone,trading psychology,risk control ,self control,etc...
so basic but true.that why i am so amazing.
really appreciate you,x-man,phx62 and other traders.
Thank you .
  • #7,466
  • Jun 6, 2012 3:13am Jun 6, 2012 3:13am
i just did at long on EU at 1.2519, entered the long base on it breaking out of asia session level and i see that the price action looks decent overriding the previous bearish pattern before london open, i also observe that GU was moving up strongly as well, as i remember that GU movement is in correleation with EU, i confirm on my entry with the tdi pointing and executed it, only concern is market bearish bias against EU and that rates announcement are coming out tonight for ECB.
  • #7,467
  • Jun 6, 2012 3:15am Jun 6, 2012 3:15am
Quoting dotless
hi emmanuel, do you go into smaller TF to determine your entry? if yes, how do you do it?
Let's say you see the TDI starts to cross on the H1, do you wait for it to close, confirm that it has crossed and then go to a smaller TF to determine entry? Once you go into the smaller TF, do you still wait for the TDIs to point in the same direction as the H1?
Hi dotless,

Some good questions. Will try answer them.

Yes, I use multi time frame analysis for trading all the time.
For H4 trading I use D H4 and H1 TFs –
D > is to determine the main trend for my trade
H4 > is to look for the setups
H1 >is where I use to time my entry
Basically 3 TFs concept to follow or what Dr Alexander Elder teaches the “Triple-screen system”. Read his book and work on your own systems using S3 as the basic.

Besides MTF, I always do a Big Picture weekly analysis with a top down approach looking at MN and W chart pattern to see what the overall major trend is like, look for key support and resistance, bar/candlestick patterns which can be significant for a entry direction and timing.
Always bear in mind NOT TO CHASE price. Example, if I see a bullish W candle close, I do not simply close my eyes and buy on Monday D open. Market will always retrace to some degree to give you a better entry price. Same applies for D and H4 candles close.

With the Big Picture planning, I decide on the D trend to trade. Sometimes it follows the major W trend other times I am trading what looks like a retracement or correction. We do not know for sure when it is a reversal until it happened. But the high probability setups are filtered using price action for example chart patterns and candlestick patterns, being my favourites. Other than that, I look for confluence of fibo levels and support and resistance levels.

About technical indicator cross signals, being an engineer I can only say a cross signal is only confirmed when that particular price candle closed. But I also learn from X-Man trade postings that he also enters a trade in the middle of a candle i.e. before that candle close. He did so base on his own experience reading the PA and market condition.

For example of S3 EU H1 trading, if I see a setup on H1 and during that candle the TDI is showing green PL about to cross the red TSL, I have to know what the TDI condition is on H4 already. Then on M15, to time my entry, I need to look for price momentum. If I see 3 to 5 consecutive green or red M15 candles even before the current H1 candle close, I will jump into the trade early to catch the momentum on lower TF.
You also need to know what time it is during the market session, as example, I would not enter a new trade during the hour before NY open which is the most tricky hour in my opinion.
I also need to see what the H4 candle formation is all the time when I trade. I observe very closely the H4 high lows, outside bars OB and inside bars IB formations when I trade intraday. With some live chart practice this become easy. My advice is to use the EMA4 shift+2 or use PAC.
Often times, you will get caught during the last few seconds before a candle close due to price pullbacks. A price pull back of 20% of a candle can cause a fake TDI cross at the last second. Caught too often and paid the price when anticipating TDI crosses.

Q. Do I wait for TDI to cross (..in M15) in the same direction of the higher H1 TF?
Answer> Yes/No.

To be very safe and synchronise timing> Yes, but need lots of patience. Seldom possible because price run too fast when breakout happens.
Other times > No ... PA will be my decision, on early entry. Use the PAC on M15. ***TDI cross on H1 is the confirmation most of the time.

Sorry for this long reply post. I try to explain my thoughts and it is not easy to write these down in words. I prefer to sit in front of my PC screen and explain in real-time. It is more effective that way.

See attached chart example.

regards,
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD M15 in H4 Hi-Lo.png Size: 43 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #7,468
  • Jun 6, 2012 3:49am Jun 6, 2012 3:49am
Quoting Fxaddicts
LONDON IS opening in about 10mins time, i see tdi crossing down n stocastic coming back down from 80 level, candle sticks also showing a bearish engulfing pattern, i am waiting for it to break the previous week low before i will enter in on my short which is 1.2460, i was feeling super tempted to enter earlier on when i see that it could not breach the 1.2515 level and the candles change colour.
if you are trading H1,
it is too early to short
and too late to buy,
wait and see if there will be test of yesterday high 1.2540 region and I look for a bearish candle.
weekly support is WPv 1.2425 , any sell above is early entry for me.

I wait...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #7,469
  • Jun 6, 2012 3:55am Jun 6, 2012 3:55am
hi emma, thanks alot for the post, i closed off my london trade already, seeing price action not going in my favour, agreed with what you said, maybe i am too anxious to earn money, wanted to just trade the breakout on the first candle of london opening even before the candle close, is this advisable?

i haven been bactesting the xman system and i realise that a pullback candle is really not a common thing, it is more of like a break above or below a support of resistance level follow by a tdi cross for confirmation?
i am only trading on 1hr timeframe now btw, will eventually wanna look into h4 but am doing more backtest on 1hr first to build up my experiences and confidences.

Btw emma u mentioned that i was too late to buy, was there a possible buying signal earlier on?

Currently i am trading mainly looking for london breakouts, cause i was reading the tread seems like london is a better session to trade
  • #7,470
  • Jun 6, 2012 4:36am Jun 6, 2012 4:36am
Hi all..

Finally I reply to this thread although I've been following this thread since few months ago. Now I trade live and so far have a nice result/profit at least for beginner. I can make profit about 10-15 % permonth consistently by folllowing this thread. Believe me guys you just need to follow the XMan's rules and having patience is better. Many thanks to XMAN, emmanuel and everyone that has contributes to this thread. But Does anyone know where XMAN is. I miss his words.

br,
  • #7,471
  • Jun 6, 2012 4:52am Jun 6, 2012 4:52am
Quoting Fxaddicts
hi emma, thanks alot for the post, i closed off my london trade already, seeing price action not going in my favour, agreed with what you said, maybe i am too anxious to earn money, wanted to just trade the breakout on the first candle of london opening even before the candle close, is this advisable?

i haven been bactesting the xman system and i realise that a pullback candle is really not a common thing, it is more of like a break above or below a support of resistance level follow by a tdi cross for confirmation?
i am only trading on 1hr timeframe...
Hi Fxaddict,

Your name say you are really addicted to trading! be careful!
My post are usually sharing my thoughts behind how I see the market and my trades. They are never meant as trade advice or some may wait for trade setup signals. Sorry guys, you listen to me and do not know my money management and position sizing strategy, how I scale-in and scale-out my trades, .. you will end up in disaster.

I took a course years ago and it taught me to be an independent trader. I do not allow other traders’ trades, forum postings and market analyst reports affect the way I think and trade. I only learn from what other people say and do, after that I go back to my own system.

S3 trading is aggressive as X-Man pointed out. It focus to catch momentum when LO when there is usually a surge in liquidity. There are several London Breakout systems and many traders trade them. So I ask myself > Do I have an edge to trade London Breakout? There are many criminals out there who have deep pockets and will catch the breakout traders especially those with small stops.

I trade Asian session and look for small trades usually 30pips as TP1. ... the TP2 is another target which need trade management skills.
Today EU was a good H4 IB breakout. See the chart at post# 7471.
There was another M15 setup if you trade Dean Malone style.

After that early H4 IB BO, the Tokyo 5H is 62pips range, very big range so I will look for pullback on the H4 candle to buy. You will see this better in M15 TF. I also do not trade the Asian session HL breakout when Tokyo 5H is more than 50pips, ...usually below 30pip is best for breakout trade. Today LO, when I see yesterday high above I stay away from buy unless price comes back down to Asian low and support by WPv 1.2545.

When I trade intraday on H1, I look at the H4 Hi-Lo and how the M15 candles form within the in H4 period. Waiting for LO trade is getting more difficult these days. You must observe closely when Tokyo finish eating their sushi, the market start to move. Why? Nothing better to do after lunch?

About trading the HA/APB pullback candle, I must admit I am not good at that. X-Man and Phx62 are the specialists in trading these pullback setups. I am still more confident using price bars and candlesticks because I want to see the actual OHLC. HA pullback are what I see as pin bars and must occur at support and resistance to consider as high probability setups. Personally I prefer to trade H4 and D pin bars and not so much on H1.

Another long reply, sorry! Just too much in mind.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #7,472
  • Jun 6, 2012 5:04am Jun 6, 2012 5:04am
now I see a good H1 sell setup....pin bar at Asian high.
but it is 2 hours to NYO....hmmmm?
decision decision decision...you need to make .
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #7,473
  • Jun 6, 2012 5:20am Jun 6, 2012 5:20am
Quoting Jemblem
Hi all..

Finally I reply to this thread although I've been following this thread since few months ago. Now I trade live and so far have a nice result/profit at least for beginner. I can make profit about 10-15 % permonth consistently by folllowing this thread. Believe me guys you just need to follow the XMan's rules and having patience is better. Many thanks to XMAN, emmanuel and everyone that has contributes to this thread. But Does anyone know where XMAN is. I miss his words.

br,
Hi Jemblem,

I had a PM from X-Man weeks back. He is busy trading big money so need fulltime attention. Our S3 teacher still pop in this thread to see how his students are doing.
Well as I don't see many members post asking questions about the basics of S3, then our tecaher won't post any reply.
My guess many traders has learn well and become profitable like you. That's great to that you are profitable on monthly basis. Congrats!

A teacher is one who makes himself progressively unnecessary. ~Thomas Carruthers

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #7,474
  • Jun 6, 2012 5:49am Jun 6, 2012 5:49am
I also have been in periodic contact with X-MAN, and Emma is correct in saying he is very busy trading.
I know he appreciates Emma keeping up his thread and doing such a great job with his analysis and explanations, thanks Emma, even though i don't comment much i am still following this thread and your posts, you are doing a great job with a lot of patience.

cajun
  • #7,475
  • Jun 6, 2012 7:58am Jun 6, 2012 7:58am
Hi,

here is the H1 setup what I saw earlier.

regards,
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD week 23 H1 trade setup 6-6-2012 6-06-21 PM.png Size: 36 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #7,476
  • Jun 6, 2012 8:03am Jun 6, 2012 8:03am
Quoting cajun
I also have been in periodic contact with X-MAN, and Emma is correct in saying he is very busy trading.
I know he appreciates Emma keeping up his thread and doing such a great job with his analysis and explanations, thanks Emma, even though i don't comment much i am still following this thread and your posts, you are doing a great job with a lot of patience.

cajun

Hi cajun,

Thanks for the bouquet!

Sharing here helps me to keep up my learning momentum.
But sadly I see fewer and fewer experienced members postings.
Nevertheless, I remain optimistic.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #7,477
  • Jun 6, 2012 8:12am Jun 6, 2012 8:12am
my trade manage TP1 +35pips,
initial SL (R) -35pips
now trade BE and trailing with jumping stop 35pips.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD week 23 H1 trade 6 Jun 6-6-2012 9-06-05 PM.png Size: 27 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #7,478
  • Jun 6, 2012 9:17am Jun 6, 2012 9:17am
hi emma,

Reading your posts gets me excited with all the information that i can learn from, your scale in scale out position sizing i want to learn it next time too. i heard a buddy told me before that professional traders will do it, i have no idea how it is done yet.

Read through yr h1 setup and it looka really good, right now i am avoiding the US sessions because from my backtesting, i lost the most money from US session, it seems harder to trade.

You mention u trade asia session? I find that you always produce an interesting side beside the trading made simple n xman method, coz they dont trade asia session. I want to compile your ideas and strategies that i can learn alongside xman n trading made simple method.

Right now i will be taking trades mainly on london first and will be posting them here for your guidances, really appreciate your time to help us out here.
  • #7,479
  • Jun 6, 2012 12:45pm Jun 6, 2012 12:45pm
Quoting emmanuel7788
Hi dotless,

Some good questions. Will try answer them.

Yes, I use multi time frame analysis for trading all the time.
For H4 trading I use D H4 and H1 TFs –
D > is to determine the main trend for my trade
H4 > is to look for the setups
[color=black][font=Verdana]H1 >is where I use to time...
hey! thanks for the awesome reply. I have tried to absorb your post as much as I can. Let me recap and see if I get it right.

You will
1)determine trend using bigger TF
2)always look at H4 for the candle formation
3)Look at S&R and PA
4)jump into the trade before the candle closes using a smaller TF to determine entry(But this is risky as the last few secs of a candle close might pullback)
5)If there are no setups on H4, you will look at H1 for setups.
6)never use M15 for setups?only use M15 for determining entries.

Would you say that this is better used in a trending or ranging market?
Right now, EU on the H1,H4 and D charts are saying that prices will go up. How will you determine your entry?

BTW, are you using an indicator for the H4 candle's open and close on the M15 chart?
  • #7,480
  • Jun 6, 2012 8:27pm Jun 6, 2012 8:27pm
Quoting dotless
hey! thanks for the awesome reply. I have tried to absorb your post as much as I can. Let me recap and see if I get it right.

You will
1)determine trend using bigger TF
2)always look at H4 for the candle formation
3)Look at S&R and PA
4)jump into the trade before the candle closes using a smaller TF to determine entry(But this is risky as the last few secs of a candle close might pullback)
5)If there are no setups on H4, you will look at H1 for setups.
6)never use M15 for setups?only use M15 for determining entries.

Would you say that this...
Hi dotless,

the better way to test your understanding of S3 H1 EU method is to use the template on your trading charts and post what you see before LO and share describing your thoughts when you see the H1 EU chart. This way you can make thiese your trading journal and at the same time other members can also see and read your written down thoughts and will comment. This is the way I learn.

Q. Trending or ranging ?
A. Traders always ask this same question over and over again and they will never get the answer they want.
But the basic concept of MTF analysis applies.
H4 > trend to trade
H1 > look for setups and entry
M15 > to better time entry

The way to trading mastery is to practice practice practice ...
You need to be looking for S3 EU trade setups on daily basis.
When you do backtesting, you look for the most common setups and the frequency they happen. Save those charts setups, refine them by adding your thoughts and remarks, etc. print them out and use them to look for trades everyday.

For me S3 H1 is my intraday trading method which I included my own money management and trade management strategy. I trade the day price swings, it can be up or it can be down. What I care about is the day trading range of that pair. If the ADR is 100 pips, I only look for 60% of that ADR.

EU is a good pair to master like what X-Man said always.

the H4 OHLC Hi Lo indy you can find at the post#2826.

http://www.forexfactory.com/showthre...64#post5300164
or you can try use the paprclip function to look for attachement in the thread. See attached.
so much for now, go to run do some home chores until Tokyo sushi time.
now got to see Aussie data release move AU and AZ run.
regards,
Attached Image (click to enlarge)
Click to Enlarge Name: FF paper clip function.png Size: 230 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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