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  • #8,641
  • Sep 21, 2012 9:04am Sep 21, 2012 9:04am
Quoting emmanuel7788
Let's have a show of hands how many on this thread trade using M15 TF.

If you like that we share and discuss our M15 trades here, give me a shout of approval.

Otherwise we limit our sharing on S3 H1 and H4 trades only.

If I count minimum 50 shouts, we decide...ok?
Compare this chart to the 1 hr, which one would you rather have traded today, I know which one I traded.

I actually prefer to trade the 1 hr, less stressfull, I can not trade the 4hr or the daily with out using a VPS. I do this to make a living and I trade this "method" without a strait jacket (restricted to 1hr or 4hr) because it works well in these time frames. I do not post on the other "similar method" thread, which is a 15 min TF because they can not seem to make their minds up as to whether they are scalpers or method traders.

I will be interested to see if it is the "method" or the "Time Frame" that is more important.
Attached Image (click to enlarge)
Click to Enlarge Name: FRI 21 15min.png Size: 46 KB
Cut your Losers short and let your Winners run.
  • #8,642
  • Sep 21, 2012 9:29am Sep 21, 2012 9:29am
Quoting eth3onstock
Hi All,

I did few months data back test on EU and GU. I tried to add some rules to make me confident on taking a setup, such as:

1. Price: check S/R, HH/HL or LH/LL flow, APB body min 10 pip max 40 pip, APB bar must be a strong bar
2. TDI: green crossed red and the bar has already closed, check divergence, and see position of TDI price on bollinger band
3. avoid news: close any transaction before news
4. check trend on higher TF --> still learning the get the concept especially when the trend on higher TF is on the way to change (retrace/reverse)

quite...
Hopefull you logged the results of your back testing to provide you with some statistical data, use this to change your Money Management/Trade Management. Different pairs move differently and have different characteristics, your management needs to be adjusted depending on the pair eg. move stop to B/E after x number of pips in profit. Back test various combinations and see what you are happiest with. Moving to B/E can take you out of a trade early and you might miss the move, so what!! you can either re-enter or there is always another one and you haven,t taken a loss, which is much more important.
Cut your Losers short and let your Winners run.
  • #8,643
  • Sep 21, 2012 9:30am Sep 21, 2012 9:30am
Hi.


I am also using min15 TF. It's not bad, but should not be used as primary or only TF. It can lower your losses and identify entries you'd be to late on if you use only h1 and higher TF.


BR
  • #8,644
  • Sep 21, 2012 9:50am Sep 21, 2012 9:50am
I traded the H1 today with similar results as dee50 on the M15 chart....did not catch the last long trade.....had a drivers meeting early at my business.....still a good week for pips, although a bit choppy.
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  • #8,645
  • Sep 21, 2012 9:57am Sep 21, 2012 9:57am
Quoting dee50
Compare this chart to the 1 hr, which one would you rather have traded today, I know which one I traded.

I actually prefer to trade the 1 hr, less stressfull, I can not trade the 4hr or the daily with out using a VPS. I do this to make a living and I trade this "method" without a strait jacket (restricted to 1hr or 4hr) because it works well in these time frames. I do not post on the other "similar method" thread, which is a 15 min TF because they can not seem to make their minds up as to whether they are scalpers or method traders.

I will...
Sometimes the BEST TF is H1, sometimes M15
In other cases the "BEST" TF is M30...among those

Today ADR was reached during LO and began the clear (M15) bounces.

But in other days M15 is too dangerous with false signals.

...how to decide the TF for the day?
  • #8,646
  • Sep 21, 2012 10:05am Sep 21, 2012 10:05am
Quoting dee50
Hopefull you logged the results of your back testing to provide you with some statistical data, use this to change your Money Management/Trade Management. Different pairs move differently and have different characteristics, your management needs to be adjusted depending on the pair eg. move stop to B/E after x number of pips in profit. Back test various combinations and see what you are happiest with. Moving to B/E can take you out of a trade early and you might miss the move, so what!! you can either re-enter or there is always another one and...
Dee,

thnx for your advice. i start getting your idea of different pip setting for each pair... I logged all the back test data. From what I did, looks like EU have higher average pip before turning to other direction comparing to my trade on GU.
  • #8,647
  • Edited 10:40am Sep 21, 2012 10:16am | Edited 10:40am
Quoting Phx62
I traded the H1 today with similar results as dee50 on the M15 chart....did not catch the last long trade.....had a drivers meeting early at my business.....still a good week for pips, although a bit choppy.
Wowww! I'm going to study the correct week...

Thanks Phx!

PS: At what time you are entered long after BE? GMT XX.35? we should check every H (XX.00) or not?
  • #8,648
  • Sep 21, 2012 10:16am Sep 21, 2012 10:16am
Quoting Phx62
I traded the H1 today with similar results as dee50 on the M15 chart....did not catch the last long trade.....had a drivers meeting early at my business.....still a good week for pips, although a bit choppy.
Hi Phx62,
Wow, that's so so so awesome!!!!

I also took the first entry today but didn't take BE so got SL

But I didn't take the rest of your trades which gave you a lot pips because when TDI crossed and bar closed, the price has already moved too far away from the high/low swing and not match with my Money Management.

Wondering what was your analysis when you took the second (long trade) and third (short trade) because these two setups so close to each other with reverse direction..... Perhaps you can share your point of view, would be very useful for newbie like me to add some knowledge.

Thank you...
  • #8,649
  • Sep 21, 2012 11:03am Sep 21, 2012 11:03am
Quoting Phx62
I traded the H1 today with similar results as dee50 on the M15 chart....did not catch the last long trade.....had a drivers meeting early at my business.....still a good week for pips, although a bit choppy.
Good trades all week as usual for you. I admire your trading and aspire to reach your level of expertise.
But my point is, if you want to make the comparison of today´s trades, not one of your trades today was using this method in fact reviewing some of your charts many of your trades are pure PA trades, much like mine, but this is not what newbies will be doing, not until they have learnt to master PA and S/R and trendlines etc, like you. Which your charts are superb at showing.
Newbies would have been chopped up like mince today if they followed the rules and had not at least looked at the 15min.
Cut your Losers short and let your Winners run.
  • #8,650
  • Sep 21, 2012 12:18pm Sep 21, 2012 12:18pm
Quoting dee50
Compare this chart to the 1 hr, which one would you rather have traded today, I know which one I traded.

I actually prefer to trade the 1 hr, less stressfull, I can not trade the 4hr or the daily with out using a VPS. I do this to make a living and I trade this "method" without a strait jacket (restricted to 1hr or 4hr) because it works well in these time frames. I do not post on the other "similar method" thread, which is a 15 min TF because they can not seem to make their minds up as to whether they are scalpers or method traders.

I will...
Congratulation for your results!
Please, can you explain the reason for enter in this trades? What made you to sell or buy? (I think that you was follow the TDI signal! If I'm correct, I have another questions: 1 Do you usually follow this signals? 2 What is your SL and TP in this trades?)
I see that you use 10 ema. This ema helps you to enter in a trade?
Thanks!!!
  • #8,651
  • Sep 21, 2012 8:23pm Sep 21, 2012 8:23pm
Quoting dee50
Good trades all week as usual for you. I admire your trading and aspire to reach your level of expertise.
But my point is, if you want to make the comparison of today´s trades, not one of your trades today was using this method in fact reviewing some of your charts many of your trades are pure PA trades, much like mine, but this is not what newbies will be doing, not until they have learnt to master PA and S/R and trendlines etc, like you. Which your charts are superb at showing.
Newbies would have been chopped up like mince today if they followed...
Amen to that, Dee. Perhaps it's the right time for me to vote for M15 as Emmanuel suggested if it could avoid me from being late to jump into a setup and got loss instead.

Emmanuel, i vote for M15 also... Please count me in.
  • #8,652
  • Sep 21, 2012 10:11pm Sep 21, 2012 10:11pm
Quoting dee50
Good trades all week as usual for you. I admire your trading and aspire to reach your level of expertise.
But my point is, if you want to make the comparison of today´s trades, not one of your trades today was using this method in fact reviewing some of your charts many of your trades are pure PA trades, much like mine, but this is not what newbies will be doing, not until they have learnt to master PA and S/R and trendlines etc, like you. Which your charts are superb at showing.
Newbies would have been chopped up like mince today if they followed...
I agree with what you are saying....my concern is that the M15 charts can whipsaw back and forth a lot, eating up investment capital, unless you trade them the right way also.....Friday was a good day to gain some pips on the M15.....like you did.....but other days and times can be totally confusing to newbies....just saying that caution and following a trading plan apply to both the H1 and the M15 time frames. I appreciate your input....
  • #8,653
  • Sep 21, 2012 11:06pm Sep 21, 2012 11:06pm
Quoting eth3onstock
Hi Phx62,
Wow, that's so so so awesome!!!!

I also took the first entry today but didn't take BE so got SL

But I didn't take the rest of your trades which gave you a lot pips because when TDI crossed and bar closed, the price has already moved too far away from the high/low swing and not match with my Money Management.

Wondering what was your analysis when you took the second (long trade) and third (short trade) because these two setups so close to each other with reverse direction..... Perhaps you can share your point of view, would...
Quoting smarco
Wowww! I'm going to study the correct week...

Thanks Phx!

PS: At what time you are entered long after BE? GMT XX.35? we should check every H (XX.00) or not?]
smarco.....Yes...I look for a reversal candle around the beginning of each hour....in the case of the 1st 50 pip (long) trade, the signal was actually given at the beginning of the entry candle......but I was already in a short trade and waited to see if price would continue short before hitting breakeven (I have my EA set to move my stop to BE after price moves 24 pips in my favor.....in this case....price moved 27 pips in my favor before reversing). I am also aware that many times the LO reverses on the second or third candle....
eth3onstock.....once breakeven was hit, I entered long right away based on the double bottom of the 1st & 2nd candles of London, the long bottom wicks (pullback) of both candles, a bounce off the 200 EMA and the TDI cross. The 2nd 50 pip trade was taken based on a pullback of the previous blue candle and a change of color of the entry candle.....the TDI had not crossed but was moving down....and the 200 EMA was still over 60 pips away from entry, therefore a TP of 50 pips was possible......however, the 2nd 50 pip trade was not an AAA+ trade....it was more risky than the 1st one but once it moved 24 pips in my favor, it was a free trade.....the worst I could do is breakeven....fortunately it hit the TP before reversing again.
  • #8,654
  • Sep 21, 2012 11:55pm Sep 21, 2012 11:55pm
Hi Phx62,

thank you so much for your explanation.
  • #8,655
  • Sep 22, 2012 2:13am Sep 22, 2012 2:13am
Phx, thanks for the instrucion!

Have a nice week-end!
  • #8,656
  • Sep 22, 2012 2:14am Sep 22, 2012 2:14am
Maybe its time for a 15 min thread. With contributions from phx62, emmanuel, dee50 and others I'm sure it will be successful. Lets face it if the backbone of 15 min will be price action, SR etc etc that will be a lot more beneficial than anything else.

Post 1hr trades here, 15 min there and keep each thread on track.
  • #8,657
  • Sep 22, 2012 11:13pm Sep 22, 2012 11:13pm
Quoting Phx62
smarco.....Yes...I look for a reversal candle around the beginning of each hour....in the case of the 1st 50 pip (long) trade, the signal was actually given at the beginning of the entry candle......but I was already in a short trade and waited to see if price would continue short before hitting breakeven (I have my EA set to move my stop to BE after price moves 24 pips in my favor.....in this case....price moved 27 pips in my favor before reversing). I am also aware that many times the LO reverses on the second or third candle....
eth3onstock.....once...
I see that you often enter a trade at 10.00 on your chart , is this gmt +0 ?
THanks for posting your charts - i wish mine looked like yours !! - maybe some day - i hope . I keep trying to learn.
  • #8,658
  • Sep 23, 2012 8:48am Sep 23, 2012 8:48am
Quoting robuk
I see that you often enter a trade at 10.00 on your chart , is this gmt +0 ?
THanks for posting your charts - i wish mine looked like yours !! - maybe some day - i hope . I keep trying to learn.
10:00 (my broker chart time) coincides with the London Open.....the lime green rectangles on my charts show the open and close, as well as the high and low of the London session each day. The darker blue rectangles show the same for the New York session each day.
  • #8,659
  • Sep 23, 2012 12:37pm Sep 23, 2012 12:37pm
Quoting Phx62
I agree with what you are saying....my concern is that the M15 charts can whipsaw back and forth a lot, eating up investment capital, unless you trade them the right way also.....Friday was a good day to gain some pips on the M15.....like you did.....but other days and times can be totally confusing to newbies....just saying that caution and following a trading plan apply to both the H1 and the M15 time frames. I appreciate your input....
Exactly!! I do not advocate trading the 15 min exclusively, for me it is just another tool, that "can" be helpfull in "some" circumstances, this is why I made the following comments.

Taken from my post on 11/09/2012
Do not trade the 15 min exclusively, it has more signals and more fakeouts, but in some instances it can improve your 1 hr entry or as in this instance improve your results.


Taken from my post 12/09/2012
A word of caution.

Please do not get carried away with the 15 min chart, lower time frame trading is not for the unintiated and can eat up an account quicker than you can blink.

Normal practice is to wait for a signal in the 1 hr and then look to the 15 min to optimise your entry, the reason for this is to reduce your risk and improve your profit.

If you take a signal on the 15 min, make sure that everything lines up on the 1 hr FIRST.
Cut your Losers short and let your Winners run.
  • #8,660
  • Sep 23, 2012 6:28pm Sep 23, 2012 6:28pm
something which may be good for the trader inside.
Inserted Video


Have good trading week ahead!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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