Attachments: X-Man's Super Simple System

X-Man's Super Simple System

#8,321
Aug 31, 2012 1:48am Aug 31, 2012 1:48am

emmanuel7788
Joined Nov 2008 | Status: Trader | 50,193 Posts

Quoting Phx62

Disliked

Anyone wanting to learn to become a successful trader using this system should take careful heed to what vtayha has written here.....it takes lots of study, testing and hard work to become a successful trader....nice job vtayha....wise words of advice!!

Ignored

I read every of Phx62 post and study his charts very in detail overlay his trades on my own trading charts.
I come to realise one thing few months back. That is I can never trade S3 H1 the way Phx62 does. The 'problem' is psychology is very different between Phx62 and mine.

Phx62 has become an intuitive trader. He knows exactly what he will do when he open his EU chart because his brain is already wired for TMS and S3 trading.

Like many of you, I look forward to read his posts and see his charts. But everytime, it only tell me I am still not there yet. I still go back to TMS and read Big E' posts over and over again. There are a few summary pdf in TMS thread and membesr must go and search them and saved these in their PCs and study them.

Regards,

Honesty is a very expensive gift. You wont find it in cheap people.WBuffett

#8,322
Aug 31, 2012 2:09am Aug 31, 2012 2:09am

emmanuel7788
Joined Nov 2008 | Status: Trader | 50,193 Posts

notice how EU test Wed Low and move back down.
will it test and break yesterday Low?

Honesty is a very expensive gift. You wont find it in cheap people.WBuffett

#8,323
Aug 31, 2012 3:52am Aug 31, 2012 3:52am

xuflyeven
| Joined Jul 2012 | Status: Trader | 45 Posts

Quoting emmanuel7788

Disliked

notice how EU test Wed Low and move back down.
will it test and break yesterday Low?

Ignored

If we follow every TDI cross in LO,

what's the win percentage?

will it high for 70%?

#8,324
Aug 31, 2012 4:05am Aug 31, 2012 4:05am

emmanuel7788
Joined Nov 2008 | Status: Trader | 50,193 Posts

Quoting xuflyeven

Disliked

If we follow every TDI cross in LO,

what's the win percentage?

will it high for 70%?

Ignored

the win % depends on how you plan your exit.

for example ( For H1 trading intraday):

if your entry is every TDI cross, would you exit when TDI cross in the opposite direction?

from my personal trading experience, scaling out is one way to achieve a win rate above 50%. But the draw back is lower overall expectancy for 100 trades.

scale out - means I exit portion (60%) of my trade at +30pips and BE remainder (40%) and try to maximise profit to RR 1:2. My win rate for this is average 65%.

Honesty is a very expensive gift. You wont find it in cheap people.WBuffett

#8,325
Aug 31, 2012 4:25am Aug 31, 2012 4:25am

james2ko
| Joined Apr 2005 | Status: Trader | 67 Posts

Did anyone else catch the pb candle bounce off the 200 ema?

Attached Image

#8,326
Aug 31, 2012 4:29am Aug 31, 2012 4:29am

Con
| Joined Sep 2009 | Status: Trader | 52 Posts

Took 30 pips off eu

#8,327
Aug 31, 2012 4:35am Aug 31, 2012 4:35am

james2ko
| Joined Apr 2005 | Status: Trader | 67 Posts

nice going con. Im struggling with when to take the 50 pips or hold for more. Guess that will come with time. So far, this trade looks like it might make it to at least 100. But I could be wrong..

#8,328
Aug 31, 2012 4:41am Aug 31, 2012 4:41am

emmanuel7788
Joined Nov 2008 | Status: Trader | 50,193 Posts

Quoting james2ko

Disliked

Did anyone else catch the pb candle bounce off the 200 ema?

Ignored

Nice!

that is the type of PA setup for narrow Asian session breakout.
Traders must look for such A+ setups and not wait for TDI cross signal.

Most TDI cross setup do not give you a good price. Back-test this and you will learn why.

If you look at H4, there is also a pin bar setup when LO candle closed and a trend line support. See you can spot that.

remember what X-Man say about "PA is King"

Good Trading!

Honesty is a very expensive gift. You wont find it in cheap people.WBuffett

#8,329
Aug 31, 2012 4:44am Aug 31, 2012 4:44am

emmanuel7788
Joined Nov 2008 | Status: Trader | 50,193 Posts

pay attention to Price Action as price is now driven very high and there is Big Event ahead.

I look for sell later.... when market turn pro-USD.

Honesty is a very expensive gift. You wont find it in cheap people.WBuffett

#8,330
Aug 31, 2012 4:46am Aug 31, 2012 4:46am

emmanuel7788
Joined Nov 2008 | Status: Trader | 50,193 Posts

Quoting james2ko

Disliked

nice going con. Im struggling with when to take the 50 pips or hold for more. Guess that will come with time. So far, this trade looks like it might make it to at least 100. But I could be wrong..

Ignored

trade management issue to tackle here.

RR 1:2 is this good enough?

no time to fear,
no need for greed.

Honesty is a very expensive gift. You wont find it in cheap people.WBuffett

#8,331
Aug 31, 2012 4:52am Aug 31, 2012 4:52am

james2ko
| Joined Apr 2005 | Status: Trader | 67 Posts

Quoting emmanuel7788

Disliked

Nice!

that is the type of PA setup for narrow Asian session breakout.
Traders must look for such A+ setups and not wait for TDI cross signal.

Most TDI cross setup do not give you a good price. Back-test this and you will learn why.

If you look at H4, there is also a pin bar setup when LO candle closed and a trend line support. See you can spot that.

remember what X-Man say about "PA is King"

Good Trading!

Ignored

Thanks E..On a pullback candle entry, I try and wait for a 38-50% retracement of the pb candle, as you suggested sometime ago (I believe it was you). If it doesn't reach either one of these retracement levels, I enter on the break of the pb candle's high/low.

#8,332
Aug 31, 2012 4:58am Aug 31, 2012 4:58am

emmanuel7788
Joined Nov 2008 | Status: Trader | 50,193 Posts

Quoting james2ko

Disliked

Thanks E..On a pullback candle entry, I try and wait for a 38-50% retracement of the pb candle, as you suggested sometime ago (I believe it was you). If it doesn't reach either one of these retracement levels, I enter on the break of the pb candle's high/low.

Ignored

study PA and learn the entry price technique ... how to get a good or better entry price.

this will make a huge difference for win rate and high expectancy.

heard of average entry price?

need to sign off now ... will be back later when NYO.

Honesty is a very expensive gift. You wont find it in cheap people.WBuffett

#8,333
Aug 31, 2012 5:02am Aug 31, 2012 5:02am

james2ko
| Joined Apr 2005 | Status: Trader | 67 Posts

Quoting emmanuel7788

Disliked

trade management issue to tackle here.

RR 1:2 is this good enough?

no time to fear,
no need for greed.

Ignored

Yes you're right. My sl was only 25 pips (right below yesterdays low). Im trying to instill the discipline of letting my profits run. In the past, I would exit at the first resistance/support level and cut my self short more often than not. I've locked in around 30 pips so far. Due to the Jackson Hole event today, I thought it would be a good time to let it run.

#8,334
Aug 31, 2012 8:06am Aug 31, 2012 8:06am

james2ko
| Joined Apr 2005 | Status: Trader | 67 Posts

Quoting james2ko

Disliked

Yes you're right. My sl was only 25 pips (right below yesterdays low). Im trying to instill the discipline of letting my profits run. In the past, I would exit at the first resistance/support level and cut my self short more often than not. I've locked in around 30 pips so far. Due to the Jackson Hole event today, I thought it would be a good time to let it run.

Ignored

Locked in 73 pips so far with EA trailing 5 pips below hourly candle. Moved tp to 150 pips. If only they were all this easy

#8,335
Aug 31, 2012 8:20am Aug 31, 2012 8:20am

Phx62
Joined Jan 2009 | Status: Trader | 924 Posts

Quoting pinux76

Disliked

Dear PHX62
after a night of study
I have some question for the entry

1)when the PA on the tf60 and the cross on the TDI is not complete but the angle suggest to entry
you open the tf15 ed entry anticipating the close of the candle?

2)the MBL in the tf 15 and tf 60 if the cross down is under the mbl ok the trend il very short and viceversa

but when the cross is down but over the mbl or over the 50 line is important for you or the not?

Ignored

1. No...when I trade the H1, my analysis is based on what I see on the H1 chart (including S/R areas marked on the chart from the higher time frames). I do NOT refer to the M15 chart for entries on the H1. For me, that just confuses the big picture. My trade decisions are based on what I find on the H1 chart (PA, including what I have learned from hundreds of hours backtesting and forward testing the market, candle patterns, HH HL LH LL, breaks of patterns, S&R areas, time of day, TDI, market harmonics, etc).

2. A cross over the MBL and/or the 50 line are added confirmation of a change in direction of the market.

I sometimes will scalp trade the M15 charts when the market is ranging but I concentrate on and trade the H1 charts most of the time.

#8,336
Aug 31, 2012 8:27am Aug 31, 2012 8:27am

pinux76
| Joined Jul 2010 | Status: Trader | 290 Posts

Quoting Phx62

Disliked

1. No...when I trade the H1, my analysis is based on what I see on the H1 chart (including S/R areas marked on the chart from the higher time frames). I do NOT refer to the M15 chart for entries on the H1. For me, that just confuses the big picture. My trade decisions are based on what I find on the H1 chart (PA, including what I have learned from hundreds of hours backtesting and forward testing the market, candle patterns, HH HL LH LL, breaks of patterns, S&R areas, time of day, TDI, market harmonics, etc).

2. A cross over the MBL and/or the...

Ignored

thanks for all

good trade and beautiful week

#8,337
Aug 31, 2012 8:32am Aug 31, 2012 8:32am

dee50
Joined Jul 2010 | Status: Retired | 3,621 Posts

Thank you for flying with EurUsd airline. We hope you have enjoyed your flight. We will be landing in approximately 30 mins so please have your sick bags at hand and please fasten you seat belts.

Cut your Losers short and let your Winners run.

#8,338
Aug 31, 2012 8:46am Aug 31, 2012 8:46am

dee50
Joined Jul 2010 | Status: Retired | 3,621 Posts

If you did not read the article in the News section here on FF, I have saved them as PDFs, the more experienced traders will not find them of interest as they already know it all. But for the beginning traders you will find them interesting and even maybe informative. Read "The forces of Supply and Demand" first. These articles were written by James B Stanley who is a Trainer at DailyFX. The second PDF has a very brief but succint explanation of how to trade a range, a weapon that all traders should have in their armoury.

Attached File(s)