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Another simple system - Time-Frame 15

  • #9,761
  • Oct 16, 2012 8:21am Oct 16, 2012 8:21am
Quoting hubby7

Nice to wake up with +61 pip for EJ.Cant trade much due to my busy schedule this coming few weeks.But still manage +20 more with EJ RN & ADR play.
Two trade for + 81pips
Soon you wont need to do any other work beside trading. you almost there
X-man the legendary conqueror of markets
  • #9,762
  • Oct 16, 2012 8:34am Oct 16, 2012 8:34am
Two Trades today

E/J +38
A/U +9

E/J chart below

A/U aborted mission halfway as it wasn't going according to plan .
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  • #9,763
  • Oct 16, 2012 8:37am Oct 16, 2012 8:37am
I need ro make confession today

( NO......... i'm not smoking anything ok.................lol)

I post EUR/USD 60M TF.

Most of the CIRCLE areas which i marked on my chart are areas of interest.

These are all the action and swing took place.

The Black TL is 240M, and it hit few candles which react to it. The last hit was at the bottom of long wick candle ( Blue Pin)

The tick marking ( Lime Green) is the question I asked in Post # 9738. The answer is there but I don'y know how to explain it.

I took a Short ( CT) on top of resistance, where the Yellow ( 1Hr TL) meet the resistance. TP when price meet another Yellow TL ( another 1hr TL) meet with 10EMA on 1hr. This is good for 35 pips.

Maybe someone could explain and help me to understand all this.

Everyday, I SEE all this lines crossing ,most of the charts I looked.

This is the reason, I can choose which pair to trade which is not to.....depending on how far they will travel before hitting next lines ( in pips count).

Seriously...........I'm not smoking anything........lol

This is how I see Charts.

I can post few other pairs, for you to judge this

As I'm new to forex, maybe i'm noy fiiliar with this. Hope someone can help me to explain this.

Thank You for your help

p/s You can see all my trades taken in journal based on this formula
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  • #9,764
  • Oct 16, 2012 8:38am Oct 16, 2012 8:38am
Quoting loveevery1
+12 on this one..there are lot of action in the chat room..but will keep posting my charts here in the forum aswell.


all you have to do to become succesful in forex is READ READ READ READ this thread...every picture here is got some meaning behind it...if at all anyone dont understand anything..plz ask
This is my second time reading the thread.
I missed some valuable posts in my first read.

Gibril has made me realize i have lots to learn still.
he knows the thread by heart.
I need to know the thread better than him so i can ask him questions to test him.
We should all learn the thread and ask gibril questions coz he is only asking us questions
X-man the legendary conqueror of markets
  • #9,765
  • Oct 16, 2012 8:39am Oct 16, 2012 8:39am
Done for the day.

Took two trades. Took a long above 1.30500 and was stopped out of that trade. The second trade was a short and made everything back that was lost in the first trade.

I think its time for a break from this and take a good look at what im doing right and what Im doing long. I think that the main problem for me is that im not respecting the 4h chart as much as I should be. I see that the trend on a 4h chart and then have been trading against it when I start looking at a 15m chart.

Shawn
  • #9,766
  • Oct 16, 2012 8:48am Oct 16, 2012 8:48am
Quote
I need ro make confession today

( NO......... i'm not smoking anything ok.................lol)

I post EUR/USD 60M TF.

Most of the CIRCLE areas which i marked on my chart are areas of interest.

These are all the action and swing took place.

The Black TL is 240M, and it hit few candles which react to it. The last hit was at the bottom of long wick candle ( Blue Pin)

The tick marking ( Lime Green) is the question I asked in Post # 9738. The answer is there but I don'y know how to explain it.

I took a Short ( CT) on top of resistance,...

Thank you Brother Gilbril,

You open my eyes to see more. And as the Master says :

Quote
all you have to do to become succesful in forex is READ READ READ READ this thread...every picture here is got some meaning behind it...if at all anyone dont understand anything..plz ask

I be going to sleep now cause have to work tomorrow but will continue reading to learn.
  • #9,767
  • Oct 16, 2012 8:48am Oct 16, 2012 8:48am
  •  Neio
  • Joined Oct 2012 | Status: Can't think outside?Enlarge the box | 688 Posts
Quoting Gibril
I need ro make confession today

( NO......... i'm not smoking anything ok.................lol)

I post EUR/USD 60M TF.

Most of the CIRCLE areas which i marked on my chart are areas of interest.

These are all the action and swing took place.

The Black TL is 240M, and it hit few candles which react to it. The last hit was at the bottom of long wick candle ( Blue Pin)

The tick marking ( Lime Green) is the question I asked in Post # 9738. The answer is there but I don'y know how to explain it.

I took a Short ( CT) on top of resistance,...

So what you are saying/seeing is that TL's on higher time frames are often well respected.
An expert is a man who has made all the mistakes which can be made
  • #9,768
  • Oct 16, 2012 8:56am Oct 16, 2012 8:56am
I am feeling more happy today by getting my first vouch from my brother Arjun than making money via his teaching ..

no word is good enough to describe your greatness..

Thanks Thanks Thanks.
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  • #9,769
  • Oct 16, 2012 9:04am Oct 16, 2012 9:04am
Quoting X-Man
Soon you wont need to do any other work beside trading. you almost there
Hopefully soon ,next yrs. It is always my dream to tell my boss"Boss I sack you from becoming my boss"lol
  • #9,770
  • Oct 16, 2012 9:37am Oct 16, 2012 9:37am
Quoting ronaleo10
I am feeling more happy today by getting my first vouch from my brother Arjun than making money via his teaching ..

no word is good enough to describe your greatness..

Thanks Thanks Thanks.
You deserve it now bro....
Let all the living things live blissfully
  • #9,771
  • Oct 16, 2012 10:57am Oct 16, 2012 10:57am
Quoting loveevery1
Folks...There are lots of ways to reach a particular destination.by car,by train,by bicycle,on foot,by plane,by jet,by rocket.but you got to choose the best way to get to a destination...less stress/less mileage/less time/less tiring/traffic free...its upto a trader.


IN the same way there are lot of ways to see the chart,and there is only one chart.we all look at the market with different eyes.market is always the same.Change is the only thing which never changes in this universe.some people complicate...
Gibril is going there by rocket (position trader) i am going on foot (scalper). but we all still getting there.
X-man the legendary conqueror of markets
  • #9,772
  • Oct 16, 2012 11:22am Oct 16, 2012 11:22am
Hi LE1

Well said Change never changes

Just a little thoght

Have u ever tried 5 ema instead of 10 ema

As it is said 10 ema is the king but if we try 5 ema may also be a good tool

Pls see & dont take it wrong just a humble suggestion if it works better

Metalman
FIGHT TILL FINISH
  • #9,773
  • Oct 16, 2012 11:37am Oct 16, 2012 11:37am
Quoting Gibril
Hi everyone,

Now I got a very big problem. I've closed all position , and now having to hold with stack of piles in my basement & storeroom.

Technically when I sell EUR, I buy USD.

( Note : got some EURO left that unable to sell infront of that stack)

Physically, this is what I got. Storage Problem.

Hope everyone made as much for the trade !.

Gibril
Brother Gibril did you sort this storage problem out?
Im sure this problem is getting worst
X-man the legendary conqueror of markets
  • #9,774
  • Oct 16, 2012 11:49am Oct 16, 2012 11:49am
X-Man and LE1,

I had a couple of thoughts (maybe good-maybe bad).

I'am thinking of changing my trading time ( my time when
LO is 1:00 a.m. and it's getting a little crazy for me to
stay up all night). So I'am thinking of getting up earlier
and start trading at 5:00 a.m. my time or 7:00 a.m.
N/Y time. What do you think of that idea?

Also, I always used Bollinger Bands (14-3 settings) as a take
profit level. Top of bollinger band/bottom of bollinger band).
And the middle of the bollinger bands is kinda a "key" level.
Would you check out that idea and let me know what you think?

Thanks for all your help and ideas!

snarlyjack
  • #9,775
  • Oct 16, 2012 12:00pm Oct 16, 2012 12:00pm
Quoting loveevery1
1)I open the MT4..
2)Go to daily see where the price is in relation to 10ema/200ema.(3 minutes)
3)Go to 4 hours see where the price is in relation to 10/200/800ema..(5 minutes)
4)By now.you should if you are going to short or long today.(3 seconds)
5)Now go to 15min..wait there patiently for the setup.somtimes im very impatient..
6)watch the price....in relation to 10/200/800emas....
7) cook the trade and take it according to your taste...
How many of us see the charts in these patterns
I see these patters everyday happening with the EMAs

we have to train our eyes to see it.
The more we stick to 1 thing the more we will master it.
X-man the legendary conqueror of markets
  • #9,776
  • Oct 16, 2012 12:08pm Oct 16, 2012 12:08pm
Quoting snarlyjack
X-Man and LE1,

I had a couple of thoughts (maybe good-maybe bad).

I'am thinking of changing my trading time ( my time when
LO is 1:00 a.m. and it's getting a little crazy for me to
stay up all night). So I'am thinking of getting up earlier
and start trading at 5:00 a.m. my time or 7:00 a.m.
N/Y time. What do you think of that idea?

Also, I always used Bollinger Bands (14-3 settings) as a take
profit level. Top of bollinger band/bottom of bollinger band).
And the middle of the bollinger bands is kinda a "key" level.
Would you check out...
Hey there buddy
Good to see you around
well 1am is very hectic to wake up and trade.
A persons mind has to be clear to be able to focus and use logic.
Waking up that time can cloud a persons mind up and careless mistakes can happen.

IMI is also from that side , he wakes up just in time for the NYO and he gets lovely pips by taking the ADR trades.
Read his posts and you could able be the next CT trader.

The emas for me on charts are enough. come traders add 1 or 2 things to give them that extra confirmation. if you feel that will give you that extra confirmation then use it.
Master it first and knwo how its works thats the main thing.
X-man the legendary conqueror of markets
  • #9,777
  • Oct 16, 2012 12:08pm Oct 16, 2012 12:08pm
Quoting Metalman
Hi LE1

Well said Change never changes

Just a little thoght

Have u ever tried 5 ema instead of 10 ema

As it is said 10 ema is the king but if we try 5 ema may also be a good tool

Pls see & dont take it wrong just a humble suggestion if it works better

Metalman
ma is ma. doesn't matter which one you stick with.
  • #9,778
  • Oct 16, 2012 12:11pm Oct 16, 2012 12:11pm
Quoting pkimnyc
ma is ma. doesn't matter which one you stick with.
yes MA is MA. as long as it work for you and you know how to use it.
Arjun has set MAs that he has mastered and has been working for him.

I know many traders comfortable with different MAs and they make money with it.
We have to stick with what we know and trade it
X-man the legendary conqueror of markets
  • #9,779
  • Oct 16, 2012 12:12pm Oct 16, 2012 12:12pm
Quoting pkimnyc
ma is ma. doesn't matter which one you stick with.
I agree ma is ma but different mas give different indications so using this may give some other type of indication

dont know much with authority but just thought of it
FIGHT TILL FINISH
  • #9,780
  • Oct 16, 2012 12:13pm Oct 16, 2012 12:13pm
Thank You Brother for your effort to answer my question.

I appreaciate all you've done for me , helping me to learn today..... and everyday.........
Original question........
Quoting Gibril
This is for educational purposes for LOVEBEES.
Early today..........someone ( can't remember who) went for long at this candle ( Yellow).
Got stopped out.
It is now visison 20/20 , we can see the trade don't work.
Anyone can help LOVEBEES to understand why this set up failed ?
We are here to learn...........
Thank You for your help

Thanks Neio, answer is correct..
Quoting Neio
Here is my newbee opinion.

That pin looks like a hangman to me which is bearish? I could not see any resistance other then the BRN below.

Thanks Steph, I see no PROBLEM with your answer...
Quoting 99problems
wouldn't have considered entering after that pin and just wait until a candle closes above the highs of the first candles above the 30 level.

always open for critique and correction

love and peace
steph

Thanks Symon, very detailed answer. I'm learning..........
Quoting symon
Hi,

at the time of the blue candle, the price wasn't above previous high and 200EMA>50pips away AND BRN around so in that case I'll have waited for a stronger signal candle to enter => the pinbar later.

Thanks Zander, you're very sharp with your answer. I'm glad asking, coz I learned a lot today.
Quoting zander2034
i took a trade around this area, looking back i would say that it could have been because of the previous few candles are ranging. a textbook 10 ema bounce off usually pretty clean but the price is a bit all over the place.
also near a brn and from backtesting experience i find when the price reaches these areas its a bit tricky and volitile.
with my nebies eyes i would never have expected a drop of that amount though

Thanks Rpt. I think you're correct, I donno how to use TDI...lol
Quoting Rpt
Hi Gilbri, not sure whether this is the correct answer but the TDI green was below red at that point therefore should not go long.

Thanks you for reminding.......lol
Quoting Neio
I noticed that too but did not mention it as Gibril says he does not use TDI. However that was the one of the reasons I did not take that trade at that point.


Thank You Again....... you sure never give up in learning..... I like your attitude. Yes answer is right.
Quoting Neio
Hmmmm...Is it because the blue candle did not bounce off/touch the 10EMA (15TF)? So the majority of buyers that were waiting did not take it as a signal to buy?

My newbee opinion.

Thanks Again.......... sure those are the early sign... very good.
Quoting Rpt
Without looking at the TDI. If we are looking at the candle,then the candle is making a lower high.

Thank You pkimnyc, agree with you, sometimes the market get notty with us LOVEBEES......lol
Quoting pkimnyc
it happens sometimes. just accept it. you can't get perfect entries all the time with the market.
Nice answer pkimnyc. Im learning fast now......
Quoting pkimnyc
we are at the supply zone, which was the reason i was hesitant on going short.

Nice one Apophis............ why didn't I think of that ( Maybe Master Arjun would like to say something about this....lol). ha ha ha
Quoting Apophis
You can`t light a candle without a clear wick...

Thanks Ronaleo, It is the NEWS alright.....So i better watch out next time.
Quoting ronaleo10
Well it seems perfect entry for long ..i would have entered blue candle at 10 ema...but i believe it was because of 5 AM EU news..

I dont know much about fundamentals and news though but i know that market equilibrium might get distorted for a while at red news....

And it seems thats what happened there.

Thanks everyone for your help to make me understand this trade better.

Wish you all the best in your trading.

Thank You again.


Sincerely

Gibril.
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