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  • #8,461
  • Sep 7, 2012 3:30am Sep 7, 2012 3:30am
Quoting Star178
Try using this one. I have configured the 1st TP at 30 pips, breakeven at 30 and trailing also at 30.

There are many reasons for the EA not performing it's 1st TP.
1) you need to know your broker what is the smallest bit. eg. standard account cannot take below 0.1 lot; so you need to enter a trade at 0.2 lots and your 1TP is set at 50% than it works.

2) wrong setting: should you trade say 0.3 lots, and your 1stTP setting is 67%, than you 1stTP will be 0.2 lots leaving 0.1 lot trailing.
however if your setting is 50% I think it may not work....
Thank u so much!

good trading!!
  • #8,462
  • Sep 7, 2012 3:31am Sep 7, 2012 3:31am
Quoting eth3onstock
Hi X-man,
do you mind to share why you trade M15 now? in the beginning of this thread you used H1 for EUR/USD.

I used to trade M15, but now moving to H1 regarding to this thread Hmmm... actually I havent finished all the pages yet. Just around the first 200 pages then jump to page 500 and so on. Sorry, if you already have put some sharing between those pages about the reason.....

thnx.
When i first started trading i started with the 4H you will see that on the TMS thread i wasnt fast enough , i couldnt think fast enough thats why i needed a slow TF. Then that became slow for me as i became better in my trading i went to the 1H TF
I do trade the 1H E/U. It gives me my pips.
Im a full time trader I get bored easily so i go to the 15min to scalp only for a few pips. I take 10 to 30 pips while i wait for setups on the 1H TF.
So the 15min is more for advanced traders and whoever is quick on the trigger and whoever is able to think fast.

So i do not recommend the 15min TF until you have mastered the 1H TF and are making consistent pips on the 1H TF.

To make pips consistently all you need is TDI and few basic emas.
Dont even try looking for indies. The best advice i can give you is to study PA. Study anything regarding PA.
Like how to determine S&R levels, what price does when it comes to a round number, what price does when it goe to the 20ema. what candle patterns you should look for in order to determin possible reversals etc.
Once you study that you wont be looking at your TDI at all. you will just look at TDI for divergences. Thats what i basically do .
If some1 takes the TDI and all other indies away from me i can still make pips. just with a few emas and price action.

I get into the market while most indies are telling you not to. by the time those so called "top indies" tells you to get in im already out of my trade locking in 15 to 20pips.
By that time the market starts to turn and hits SL.
X-man the legendary conqueror of markets
  • #8,463
  • Sep 7, 2012 3:49am Sep 7, 2012 3:49am
Quoting X-Man
[size=3][color=Blue]When i first started trading i started with the 4H you will see that on the TMS thread i wasnt fast enough , i couldnt think fast enough thats why i needed a slow TF. Then that became slow for me as i became better in my trading i went to the 1H TF
I do trade the 1H E/U. It gives me my pips.
Im a full time trader I get bored easily so i go to the 15min to scalp only for a few pips. I take 10 to 30 pips while i wait for setups on the 1H TF.
So the 15min is more for advanced traders and whoever is quick on the trigger and...
Hi X-man, thnx for the explanation...
I will stick to H1 and H4 first then... just like the original rules of this thread. Again, thank you for being soooo inspiring
  • #8,464
  • Sep 7, 2012 5:17am Sep 7, 2012 5:17am
Quoting Star178
Try using this one. I have configured the 1st TP at 30 pips, breakeven at 30 and trailing also at 30.

There are many reasons for the EA not performing it's 1st TP.
1) you need to know your broker what is the smallest bit. eg. standard account cannot take below 0.1 lot; so you need to enter a trade at 0.2 lots and your 1TP is set at 50% than it works.

2) wrong setting: should you trade say 0.3 lots, and your 1stTP setting is 67%, than you 1stTP will be 0.2 lots leaving 0.1 lot trailing.
however if your setting is 50% I think it may not work.
Hi Star,

which is the strailing step? 5pips?

Thanks
  • #8,465
  • Sep 7, 2012 6:16am Sep 7, 2012 6:16am
Quoting smarco
Hi Star,

which is the strailing step? 5pips?

Thanks
The trailing step here is set at 5 pips.
It will kick into action when the Start Trailing at 30 pips is reached and move in step of 5pips.

To make it much easier to understand, with the default settings, if the PA is in profit and reached 30 pips; two items kick into action.

1) 1st TP (set at 30 pips) will close part of the trade.

2) Set BreakEven At 30, moves the trailing stop to breakeven (BE).

Now the PA moves a further 6 pips. 3) The Trailing Step now moves the TS to BE + 5.

An example is shown below
Attached Image
  • #8,466
  • Sep 7, 2012 9:13am Sep 7, 2012 9:13am
Quoting Star178
Hello young man!!!

I call you young man because from your expression

1) you are younger than me or at lease half my age.

2) You have not seen the world.

LOL
Cut your Losers short and let your Winners run.
  • #8,467
  • Sep 7, 2012 11:36am Sep 7, 2012 11:36am
GBPUSD H4 trade, long trend in H4 and D TFs, TDI cross and divergence. I like these type of setups. TP of 68 pips hit.

thrax
Attached Image (click to enlarge)
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  • #8,468
  • Sep 7, 2012 4:40pm Sep 7, 2012 4:40pm
Only 5 trades this week but some good movement with the Euro news.
Attached Image (click to enlarge)
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  • #8,469
  • Sep 7, 2012 7:03pm Sep 7, 2012 7:03pm
Quoting Phx62
Only 5 trades this week but some good movement with the Euro news.
Thank you Phx, after your weekly chart everything is much more clear.
Your entry all perfect, as wednesday where you are exited before reverse..why not a simple retrace?
And how did you know the bad market of thursday or the best entry today before break of yesterday hight?

Happy weekend!
  • #8,470
  • Sep 8, 2012 12:11am Sep 8, 2012 12:11am
Quoting smarco
Thank you Phx, after your weekly chart everything is much more clear.
Your entry all perfect, as wednesday where you are exited before reverse..why not a simple retrace?
And how did you know the bad market of thursday or the best entry today before break of yesterday hight?
Happy weekend!
Your entry all perfect, as wednesday where you are exited before reverse..why not a simple retrace? You always need to be aware that the first or second candle following LO can be a "fake out candle". I am aware of that possibility whenever I enter a trade at LO, so I monitored this trade closely...a couple of other reasons why....TDI was below the 32 and there had already been 10 red candles in a row preceding the LO indicating the run was probably over....if price had continued down after my exit, I could have re-entered on a break of the previous entry candle but it would have taken some news or event to push the market lower.

And how did you know the bad market of thursday or the best entry today before break of yesterday hight? Once you spend hundreds of hours studying how the Euro reacts to situations, you begin to understand that many times when big news is pending, the market will not move much before the news releases. This was the case on Thursday at LO. Positive Euro news came out in the 1st and 2nd hour of NY and once price settled down and found a direction, I scalped a few pips using the M15 chart.
Today, I had no way of knowing that the market was going to move 180+ pips...my analysis told me that with the positive Euro news on Thursday, there may be a continued move up, but that was just one possibility....one cannot successfully predict market behavior consistantly...I just entered at LO on a break of the Asian high, like I have done many times, with a 50 pip TP and SL....as price continued strongly up (candles had no lower wicks...all upper wicks...there was very little retracement and every candle made a HH and HL), I removed my TP and let my EA manage the trade. I came back to my computer to see that price had moved past 150 pips and was beginning to pull back, so I reset the SL at 150 pips. Even if I had not come back to the computer and reset the SL, my EA would have taken me out with about 135 pips.

Hope this answers your questions. Keep studying charts and spend some time trying to learn how price reacts to situations...then develop a trading plan around what works for you...learn the basics...candle patterns, times to trade (what hours of the day, what days of the week, what month of the year are better than others...etc), support/resistance or supply/demand...fibs or pivots help some people. Keep it simple and develop that trading plan....then follow it patiently and faithfully.....
Success to you...
  • #8,471
  • Sep 8, 2012 2:04am Sep 8, 2012 2:04am
Phx,

Thank you again for your very precise replay.

I will continue to study every day

Nice week-end

Ps. Wednestay: a third reasone was ema200 bounce. I've learned now...
  • #8,472
  • Sep 8, 2012 4:48am Sep 8, 2012 4:48am
ive been away for a while, working at a prop house and have completely forgotten how to set up mt4, when i load synergy-apb2 indi, my candles arn't what they should be. Could someone remind me what i have done wrong/have to do. Cheers
Attached Image
  • #8,473
  • Sep 8, 2012 5:12am Sep 8, 2012 5:12am
You have candles enable as a method to display price also.
Change it to bar chart or line chart (icons next to candle icon in menu) or right click on the chart and select candles the same color as your background. Than no PA info except Heiken Ashi will be visible.

BR
  • #8,474
  • Sep 10, 2012 1:37am Sep 10, 2012 1:37am
Need some opinion...

I've read some discussion posted about multi timeframe analysis in this thread. How would you identify trend in H4 to be used in H1 trade?

I mean: should the signal could be as clear as the rule for H1 (LO/NYO session only, TDI cross also look out for level 32/68, pullback/strong APB, price versus EMA60/EMA200) or can it be only partially/follow some of the rules ie. TDI cross only or EMA position only in H4?

Thank you...
  • #8,475
  • Sep 10, 2012 1:42am Sep 10, 2012 1:42am
hi guys, im following X-Man H4 method. is this the right setup? I have shorted AU since about 3 hours ago, please take a look
Attached Image (click to enlarge)
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  • #8,476
  • Sep 10, 2012 1:54am Sep 10, 2012 1:54am
Quoting Phx62
Your entry all perfect, as wednesday where you are exited before reverse..why not a simple retrace? [color=#0000ff]You always need to be aware that the first or second candle following LO can be a "fake out candle". I am aware of that possibility whenever I enter a trade at LO, so I monitored this trade closely...a couple of other reasons why....TDI was below the 32 and there had already been 10 red candles in a row preceding the LO indicating the run was probably over....if price had continued down after my exit, I could have re-entered on a...
Your explanations are so educative. You will never know how much they mean to some us who are just learning the trade. I was in some of the trades you took but did not fair well bse I did not know when to exit.
  • #8,477
  • Sep 10, 2012 2:57am Sep 10, 2012 2:57am
Quoting rsg10z
hi guys, im following X-Man H4 method. is this the right setup? I have shorted AU since about 3 hours ago, please take a look
I personally would not take the short, because I like following the tend. The trend according to my trend definitions and strategy is long now. There is a support at the 1.03450 area I wait for bouncing off from it.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD_H4_strategy name_20120910104733.gif Size: 25 KB
  • #8,478
  • Sep 10, 2012 3:00am Sep 10, 2012 3:00am
Quoting thrax
I personally would not take the short, because I like following the tend. The trend according to my trend definitions and strategy is long now. There is a support at the 1.03450 area I wait for bouncing off from it.
I am also waiting for the price to rebound hoping to catch long trade. Right now price is struggling around EMA200 and weekly fibo pivot level 23.6%...
  • #8,479
  • Sep 10, 2012 3:15am Sep 10, 2012 3:15am
Quoting thrax
I personally would not take the short, because I like following the tend. The trend according to my trend definitions and strategy is long now. There is a support at the 1.03450 area I wait for bouncing off from it.
ok thank you but how do you know the trend definition is long?

honestly I cant read that from a H4 timeframe (it seems like going up though from D1)

i still have much to learn
  • #8,480
  • Sep 10, 2012 3:27am Sep 10, 2012 3:27am
Quoting eth3onstock
Need some opinion...

I've read some discussion posted about multi timeframe analysis in this thread. How would you identify trend in H4 to be used in H1 trade?

I mean: should the signal could be as clear as the rule for H1 (LO/NYO session only, TDI cross also look out for level 32/68, pullback/strong APB, price versus EMA60/EMA200) or can it be only partially/follow some of the rules ie. TDI cross only or EMA position only in H4?

Thank you...
You will more often than not get 2 (max 3) tdi crosses a week from 4hr. That implies that moves last 2-3 days. So using 1hr after 4hr has crossed may give more opportunites to enter the move. From either when 4hr crosses for 1st time (quite likely 1hr co-incides also crossing at close of 4hr candle) or from re-entry on 1hr over the next couple of days.

Basically trading against a 4hr cross at your peril, unless you have other good reason. Trend is time frame dependent so you can be trading 4hr/1hr when D has not yet crossed. The 1hr may signal move back into D trend quicker than 4hr.

You might want to consider crosses on D + 4hr +1hr (or D + 1hr) as trend and 4hr + 1hr as counter trend.
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