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Another simple system - Time-Frame 15

  • #7,701
  • Sep 28, 2012 3:09pm Sep 28, 2012 3:09pm
Quoting Imi
You're a PRO.
thanks for your contribution, learned a lot from you.
God bless you with everything.

Hi Imi.................

I think, is the other way round. You're THE PRO..... I'm NEWbie

As NeWbIe, I had learned a lot from ALL the EXPERT traders in this thread.

My trade is just a straight forward nEwbIe entry.... ( Basic Set Up only)

I see many PRO here enter left , right, centre and from everywhere.... lol,That really nakes me amazes the speed you think about trade.... Whereas I'm a very slow traders. ( Sloth mode)

With all those PRO trade , all of you took .... weL nIwbie get confused what is the real method that we're using for trading. This because I'm just a newbiE. Takes a lot of practice for me to reach that level.... i think 10 years !! ,,lol

I see all PRO is going into smaller time frame....... 5 mins and 1 mins, whereas the original method is 15M TF. I think all NeWbIe ( like me) will keep on using the original SET UP & TF , until we got enough experience
to trade like most of you here.

At the moment my main trade will be using Daily TF Chart, because of my school commitements. If I got time i will join the thread and trade intraday using 15M TF.

AS NeWBie, im lucky to be surrounded with very PRO traders in this Thread. Whatever pips I made is really small in comparison to others.

Thanks Imi for all the posting, which really help me to understand Forex a bit better now......... I'm still learning. All PRO posting is really valuable.

Sincerely


gIbRil the NEWbie


P/S End of the month..... must close all trades for Daily TF.
will start new in Oct. Thank You for reminding me this, because I didn't rrealise my Daily TF trades.... lol

Quoting Imi
end of month plus friday today.
up.
  • #7,702
  • Sep 29, 2012 3:48am Sep 29, 2012 3:48am
Quoting Gibril
Something Wrong here with this Method....... lol


Almost ALL trade I've taken based on Basic rules.

I don't need to bent rules........... or chasing pips everywhere.

All I did is just wait for A+++ set up.


Now........... the Question is.

HOW DO I KNOW WHERE or WHAT LEVEL TO TAKE PROFIT ?

( Hints......why did I ignore the RN stop in the first place ?)

Enjoy the show.................



GiBrIl tHe NewbIE
Hi Gibril,
I think I found the answer to your question. Please comment.
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  • #7,703
  • Sep 29, 2012 4:19am Sep 29, 2012 4:19am
THE QUESTION FOR NEWBIE...........

Quoting Gibril

........... the Question is.

HOW DO I KNOW WHERE or WHAT LEVEL TO TAKE PROFIT ?

( Hints......why did I ignore the RN stop in the first place ?)

Enjoy the show.................



GiBrIl tHe NewbIE

I am very happy my Brother in this thread already know the Secret how to get in and out of trading.......... Both of you Brother will soon become PRO trader..... I like...

You keep it simple and look at what these two poster answer....... I guarantee you will be making a lot of pips everyday...... And you won't be stopped out and TP quickly ( scalping) because this methos let you reap MAXIMUM pips everyday.


Quoting leztuh
Hello Gibril,

I think you set TP at the 800EMA (4hr TF) that is strong resistance. Mabye thats the reason why you ignored the RN as TP...?

newbie-club
This is exactly the method i used in intraday trading....... You're rock.. Welcome to Newbie Club.



Quoting Tradertpl
Hi Gibril,
I think I found the answer to your question. Please comment.
Very good observation....... If you push it to 4hR TF , you will see better.
I like your Regresssion Channel........... Neat tool.
Welcome to Newbie Club.


Attached simple 15M and 4Hr Chart, with exact marking for entry and exit.


GiBRil The NEWbie
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  • #7,704
  • Edited 5:30am Sep 29, 2012 4:35am | Edited 5:30am
WHEN SOMETHING IS THAT SIMPLE..............


IT'S REPEATABLE.................


The above is just an example one of the exoctic pairs in forex.

If you trade the majors (EUR/USD, GBP/USD, AUD/USD and EUR/JPY)

the pattern is much easier to spot.


Just repeat the above method every single day. Dont hurry to get in and stay with the trend ( that's why you need to see 4hr and 15 m working as team)

Attached 5M TF Chart for you to decide visually, for which you will see its hard to trade with this LTF for Newbie..... and only good for scalping.


Regards,

giBRIL tHe newBIE
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  • #7,705
  • Sep 29, 2012 6:00am Sep 29, 2012 6:00am
I am new to this thread, and so far have read the first hundred pages and the last fifty. Many more still to read.

I set up my chart using the indicators in post #5 but the candles are different to the published charts.

The bodies of my HK candles contain a mix of colours including filled white, filled red and outline green with the wick visible inside.

I must have missed it, but I cannot find a description of this colour mix in the pages that I have read, can anyone please give me a link to the interpretation of these candles?
  • #7,706
  • Sep 29, 2012 6:10am Sep 29, 2012 6:10am
Quoting lumbco
I am new to this thread, and so far have read the first hundred pages and the last fifty. Many more still to read.

I set up my chart using the indicators in post #5 but the candles are different to the published charts.

The bodies of my HK candles contain a mix of colours including filled white, filled red and outline green with the wick visible inside.

I must have missed it, but I cannot find a description of this colour mix in the pages that I have read, can anyone please give me a link to the interpretation of these candles?

Hi lumbco.

Can you please post your chart and template.

I will try to assist you in anyway I can. As Im only Newbie, maybe some other will give more input.

Regards,


gIbril tHe nEWbiE
  • #7,707
  • Sep 29, 2012 6:46am Sep 29, 2012 6:46am
In the previous post #7636. I admitted that the SETUP for Short entry was wrong ( as per BAsic Set Up in Post # 1).

I mistakently took the Short trade base on the following SET-UP ( another SETUP using Daily & 4Hr TF). That SET UP I haven't share with other Newbie yeat, as I need all to get a very good grasp of Basic Set Up.

Anyway I'm now sharing you the SET-UP using Daily and 4hR TF......... The Entry is still at 15M TF.

First Chart. = Daily TF. Showing resistance level ( I took BODY of Candle only as the wicks are emotional) Line Purple. Red Arrow marking the rejection of Reistance area. ( 2 mins set up)

-
Second Chart = 4 HR TF price broke the daily resistance level and couldnt go adbove high. The Red marking is where, I see price open , goes up a bit and drop below the Purple line. ( 4 mins Set Up)

Third Chart = Started watchin this after i saw bearish engulfing candle marked 1. Then a pin BAR ( Blue), Drop below the purple line and below LWMA (11), Shorted from there.

All the RED arrow on Chart ia the same spot, where it trigger the SET UP.

I hope I clarify myself clear to other Newbie the confusion I made earlier on this entry. It was based on HTF method, not the Basic Set Up method tought by Arjun.

My apologise to anyone who got confused with that trade I made.



Someone posted this before I took the Short....... I think this is not the way you should look at Price Action at Support & Resistance (PASR) area.
And do not use TDI to guage the PA..... It's the other way , that TDI only follow what price is doing.

I prefer to interprate PA at level or area rather than inteprate Indicators.
This is my 1 cent Newbie view.

[quote=XXXX]I'm bullish in the longer term for cable. I like the PA in this flag at the current supply level. I think we will take this out and move up into the next supply level overhead. Also notice the TDI cross that just happened.[/quote]


I hope we all can learn from each other to trade with profitable method.


Sincerely


gIbRIL tHe NeWbiE
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  • #7,708
  • Sep 29, 2012 7:04am Sep 29, 2012 7:04am
Continue from the above............


Banks use a 3 step process day after day to profit from the forex market.

Accumulation: they must do so by accumulating a position over time. Unlike you and I, because of the sheer volume banks push they must enter positions during times most people would term as consolidation


Manipulation:Forex traders are predictable. In GBP/USD example above the Bank was looking to sell, then they would push the price up, which it turn would begin to trigger buying pressure from retail traders.

At this same point they would begin to sell into all that buying pressure, and then the market instantly turns to the downside. This is the central reason many retail forex traders consistently enter the market at exactly the wrong time.

Distribution/Market Trend: After they have accumulated a position through the market, banks will often create a false push (manipulation).

This false push is an extension of the accumulation period as it allows them to finish entering the rest of the position they had been accumulating

If we have correctly identified which direction they have manipulated the market we can then understand which direction they intend to push the price. ( this is where the Daily TF Resistance line comes into play)

This is the easiest area for us to profit from but only if we can properly identify the first 2 steps in the process.


To all Newbie ( including me), we will practice the First Basic Set Up. May be by end of October, I will go thro this HTF SET Up in great detail so we can trade with more profitable method introduced by Master Arjun.


Sincerely


gibRIL tHe nEWBiE
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  • #7,709
  • Sep 29, 2012 7:10am Sep 29, 2012 7:10am
Enter You Enemies Head and Think Like A Bank


We must remember that this is the banks market, and not ours!

Retail traders are simply figurative flies on the wall.

Keeping that in mind


Learn to see what they see.........


giBril tHE nEwbiE
  • #7,710
  • Sep 29, 2012 7:35am Sep 29, 2012 7:35am
How to think like a Bank. ?


Look at this 1hr TF, weekly round up of AUD/USD.


They decide to buy at S1 and S2 and sell at Pivot ?

Are we missing anything here. ?



giBriL tHe nEwbIE
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  • #7,711
  • Sep 29, 2012 7:41am Sep 29, 2012 7:41am
Bank manipulates the price around common points retails traders are most likely to use.

Because we cannot see where retail orders are stacked we have to use the most common tools of the retail trader to understand.

To find where Market ( Bankss etc) will more likely create a false manipulation move to take out retail stops.

With a bit of common sense we can use simple forex trading strategy or filter.

Here is a list of common points where will see market manipulation….

ADR (Average Daily Range),
Previous Days High/Low,
200EMA & 60EMA,
61.8% Fib,
Key Support/Resistance Levels,
Psychological Barriers (Round Numbers),
Pivot Points, ect.

The more of these points coming together at one price level the higher the probability a manipulation pattern will occur there.


gibRIL tHe nEwbie
  • #7,712
  • Sep 29, 2012 9:23am Sep 29, 2012 9:23am
I received a few pm's asking this question,
it's so long is it worth reading?
Does it really work?

This thread did not only helped me to be a better trader, but to be
a better human by helping others.
I got involved with fx almost five years ago, I bought everything that was available on the market and everybody else bought, and I was a silent
reader of many succesful threads on FF for years.
This thread helped me to put the puzzles together I had all over in my head.
BUT, the biggest game changer was, when I finally came out of my shyness , and decided to sign up, and started posting trades, charts etc...
It's like a trade journal and does not only help others, how you see things,
but helps your own development and self confidence tremendously.
Green pips to all and good reading.
If you're going through hell, keep going. Winston Churchill
  • #7,713
  • Sep 29, 2012 9:40am Sep 29, 2012 9:40am
A good pin bar has to stand out of the crowd, so to speak.
Like the tallest tree in the forest. It cannot be engulfed or covered by
other candles. The stronger it is if it's on a strong level, like RN, pivot, yest. H or L, resistance, support etc..
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If you're going through hell, keep going. Winston Churchill
  • #7,714
  • Edited 10:11am Sep 29, 2012 9:43am | Edited 10:11am
Quoting Gibril
How to think like a Bank. ?
Look at this 1hr TF, weekly round up of AUD/USD.
They decide to buy at S1 and S2 and sell at Pivot ?
Are we missing anything here. ?
giBriL tHe nEwbIE
for a newbie and being able to recognize a bounce off of pivotal numbers is such a great feat!

just a small flaw. that weekly pivot you are seeing was the weekly pivot come friday, Sept 28.

it's not the weekly pivot as of sept 25th. the weekly pivot changes everyday as it counts the last 5 or 7 days depending on the calculation of your indicator and the feed of your platform (whether it counts weekend data or not).

that sept 25 bounce was the daily R1 not the weekly pivot.

if you can have a pin bar rejecting a pivotal number (daily R1/2/3 or S1/2/3 or RN) then you can almost target the next pivotal number before taking out profits.

a pin bar appearing in the middle of nowhere is often just a retracement but not a change of direction or sentiment.

if you plan to be a swing trader (trades are in and out less than 24 hours) then a weekly/monthly pivot would be less important to you. however, if they cluster, say weekly pivot and daily S1 are almost together then they provide a good support/resistance. if it's broken, then that's when a slide happens. weekly/monthly/daily pivotal numbers are calculated differently. a clustering of different calculations creates a very good resistance/support. on clustering prices, it also means you place a pending sell right below it or buy right above it to join the slide. but that's another thing you will notice as you get along.... to add on to winning positions.

you'll develop that discriminating eye, not to take positions just coz you see pin bars. rather accept them when they are rejecting pivotal numbers. of course it won't work all the time, but it does most of the time. then you'll be taking just 1 or 2 positions daily and it meets your daily quota. less stress. more profitable you.

hope it helps in your adventure!
  • #7,715
  • Sep 29, 2012 9:59am Sep 29, 2012 9:59am
Quoting Imi
A good pin bar has to stand out of the crowd, so to speak.
Like the tallest tree in the forest. It cannot be engulfed or covered by
other candles. The stronger it is if it's on a strong level, like RN, pivot, yest. H or L, resistance, support etc..
yes indeed! in your example, it was a rejection of the daily R1. but it takes some skill to recognize pin bars in lower TFs. that pin bar in H1 was actually composed of an outside reversal in M15 and M5
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  • #7,716
  • Sep 29, 2012 11:00am Sep 29, 2012 11:00am
I realise I have not been contributing to this thread for very long, but does anyone else agree with me in thinking it's gone a bit off track?

The thread was started by Loveevery1 and in the main is a great technical resource and an inspiration, but the rules he set out for this strategy are largely reliant on TDI. However a lot of recent posts are discussing other general trading principles, without any reference to TDI or any of LE1's other rules.

I don't mean to be controversial or offend any of the contributors who are taking time to share their experience, I do appreciate the input, but in this thread I would prefer to see people sharing experiences of LE1's original strategy only.

If I'm on my own, no matter, i'll keep following the thread anyway.

Cheers
Getting there, slowly but surely...
  • #7,717
  • Sep 29, 2012 12:46pm Sep 29, 2012 12:46pm
Edlich, exactly what I was thinking. I have not finished the whole thread (on page 250), but it seems like the charts as of late have nothing to do with the system that love outlined. Perhaps I'm missing something.... If it worked, why change it?
What is any ocean but a multitude of drops?
  • #7,718
  • Sep 29, 2012 1:27pm Sep 29, 2012 1:27pm
Quoting Edlich
I realise I have not been contributing to this thread for very long, but does anyone else agree with me in thinking it's gone a bit off track?

The thread was started by Loveevery1 and in the main is a great technical resource and an inspiration, but the rules he set out for this strategy are largely reliant on TDI. However a lot of recent posts are discussing other general trading principles, without any reference to TDI or any of LE1's other rules.

I don't mean to be controversial or offend any of the contributors who are taking time to share...

hi edlich & co. been reading the thread four times over the last 3 months. it's all i do. i'll start contributing and trading soon but the best advice i can give is to read every single post in this thread more than once.

as you work through the thread you will see and understand the development of the system. it's really not that much about the tdi. the tdi is there to help you read what the candles are writing. you will soon be able to not look at the tdi and read from the candles only if you read this thread thoroughly.

i don't even trade. i am just absorbing knowledge to then contribute. you could do it like this: if you have time read through the thread as much as you cann and in the evenings backtest what you have learnt for the day. it helps so much, really.

if u want to know where ur destiny lies then look at how apply ur time. only effort will pay.

to everyone else: i am sorry that i am outing myself as someone who just exploits ur knowledge. i will contribute very soon.

love and peace
  • #7,719
  • Sep 29, 2012 1:42pm Sep 29, 2012 1:42pm
Quoting loveevery1
take a look
http://www.forexfactory.com/attachme...7&d=1338539436
I know this is an old post, but if someone can help me understand WHY he took this trade I would appreciate it. I don't understand the reasoning behind it. Thanks!
What is any ocean but a multitude of drops?
  • #7,720
  • Sep 29, 2012 3:05pm Sep 29, 2012 3:05pm
Quoting Xhale12
I know this is an old post, but if someone can help me understand WHY he took this trade I would appreciate it. I don't understand the reasoning behind it. Thanks!

Well As you can see there is Clear big red candle , that could be clear sell signal by our system .
Now if there is no big resistance down that red candle and our analysis says price will go down further , there is no problem entering at the bottom of red candle as per rules in post 1.

But if you think logically our SL would be much higher in that case . also there is RN at that are near red candle , so we can expect little retracement at that area.

( Remember LE1 Always says try to enter as much near as possible to 10 EMA )

So we can expect price to go back to near the area of broken support or 10 EMA and than we should look for sell. ( that will give us tight SL and Big TP ).

I would have personally entered at the small red pinbar which is also inside bar.
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