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The System III (Oh no!)

  • #1,401
  • Edited 3:22am Feb 9, 2012 2:33am | Edited 3:22am
Hello traders!


Here is my current long live trade...

Will see how it goes...


EDIT: - out BE
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  • #1,402
  • Feb 9, 2012 2:48am Feb 9, 2012 2:48am
Quoting dim4ik42
Hello traders!


Here is my current long live trade...

Will see how it goes...
As you see price rejections happen everywhere on the charts, on the market, on any markets...

So - what you could do is just use these rejections in your favor. Look where price rejections happend before, trace a line in the future (level), and then just watch how the price reacts around these levels (we are looking for rejections in this case).

Good luck!
  • #1,403
  • Feb 10, 2012 6:48am Feb 10, 2012 6:48am
Dim,
First of all, well done for keeping this thread alive.
Secondly, what are your opinions about using support/resistance plotting indicators, i appreciate some of them wont include historic major S/R levels but on running a quick simulator in MT4 this indi seems to be okay at spotting decent levels.
This is the 'barry s+r indi' by the way
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  • #1,404
  • Feb 10, 2012 8:10am Feb 10, 2012 8:10am
Quoting robthorp
Dim,
First of all, well done for keeping this thread alive.
Secondly, what are your opinions about using support/resistance plotting indicators, i appreciate some of them wont include historic major S/R levels but on running a quick simulator in MT4 this indi seems to be okay at spotting decent levels.
This is the 'barry s+r indi' by the way
Hey Rob,

My two cents is that I don't like that. I personally found that I did better when I drew the lines cause it helped me understand what is going on behind the chart and forced to make a choice on why a line belongs somewhere and what happen previously. I don't trust trading off a computer line.

Like I said that's just my personal opinion of trading over the past couple of years.

Good luck!
A woman drove me to drink, and I forgot to thank her
  • #1,405
  • Feb 13, 2012 11:17am Feb 13, 2012 11:17am
Hi to all.

I have been trading full time for quite a few years and although I have always used price action as part of my analysis, I recently began to investigate naked trading. As a result of my research I happened upon Feb's original posts and quickly realized what a great trader and mentor he is.

My hat is off to you Feb.

I then proceeded to read every single post of system 1 then 2 and now 3.

To be jovial for a moment, you could almost make a film of the progression of Dim from novice trader under the direction of Grand Master Feb, through to his development into a Master in his own right.

The way he kept this thread alive during Feb's necessary absence and his detailed help and tuition to ARKAN (what happened to arkan?) is exemplary and inspirational.

I have gained a great deal of valuable information from reading all of these posts and I will try to be come a regular contributor to this thread - albeit that I prefer to trade in the higher time frames and have historically always traded sterling.

Finally, may I say a very big thank you to the producers of the various downloads that were kindly offered along the way in this (and S1 & S2) thread.
  • #1,406
  • Feb 14, 2012 1:49am Feb 14, 2012 1:49am
Quoting mvtrader2000
Hi to all.

I have been trading full time for quite a few years and although I have always used price action as part of my analysis, I recently began to investigate naked trading. As a result of my research I happened upon Feb's original posts and quickly realized what a great trader and mentor he is.

My hat is off to you Feb.

I then proceeded to read every single post of system 1 then 2 and now 3.

To be jovial for a moment, you could almost make a film of the progression of Dim from novice trader under the direction of Grand Master...
Hello!

Thank you for so kind post!

We will talk more later if you would like...

And now I want to show you another great thread of Nomoretoxic.

http://www.forexfactory.com/showthread.php?t=106489

this is pure price action thread too, and honestly - I would like to start trading this way with mini account.
  • #1,407
  • Feb 14, 2012 4:13am Feb 14, 2012 4:13am
Hi Dim,

Yes, I would be very happy to talk further with you.

I have read the thread that you suggested which is very interesting. I do not usually trade the smaller time frames, but I did set up the box and at early examination it does appear to offer a very simple way to trade.

Of course, break out trading is nothing new, but the nomoretoxic system rules together with the free indicator do give a simply way to gauge precise entry points.

I will play with it for a while in a demo account and would be pleased to swap notes. I do think that perhaps in an effort to keep this thread pure, we should discuss the breakout system in the other thread. Let me know what you think.
  • #1,408
  • Feb 14, 2012 5:04am Feb 14, 2012 5:04am
What would 'the box' breakout refer to, I would assume the box is a consolidation pattern, however on the highlighted area's of the graphs he has shown, I do not spot consolidation, thanks
  • #1,409
  • Feb 14, 2012 5:31am Feb 14, 2012 5:31am
Hi Robthorpe,

If you start at the beginning of the "nomoretoxic" thread there is an indicator that you can download. This indicator does "sort of" highlight consolidation, but is in fact simply set to a time period were volume is very low and so naturally, price will often appear to be in consolidation.

This does of course highlight a good time in which to watch for a breakout, and I do like the fact that the rules require one to wait for the "fake" which is all too common when watching for a breakout.

I am by no means an expert in nomoretoxic's methods, having only recently been introduced to the thread.

Perhaps Dim will be willing to answer you more comprehensively, as he is a little further forwards in the study of this method..
  • #1,410
  • Feb 24, 2012 3:28am Feb 24, 2012 3:28am
Thanks Mvtrader,

Also Dim, Feb, Mvtrader or anyone else,
Are there any support or resistance areas you find usefull to plot on your graph, currently I plot Daily Pivot, R1 and S1. Just wondered if anyone noticed anything i dont currently use,
Thanks Rob
  • #1,411
  • Feb 24, 2012 5:06am Feb 24, 2012 5:06am
Quoting robthorp
Are there any support or resistance areas you find usefull to plot on your graph, currently I plot Daily Pivot, R1 and S1. Just wondered if anyone noticed anything i dont currently use,
Thanks Rob
The very best levels of S & R will always be the ones that you plot yourself, but a lot of traders find the camarilla indicator quite useful. You may want to cut out some of the levels - especially the extra fib levels (which this indicator allows you to do), but I suggest keeping in the break out and break out target levels.

This is a MetaQuotes indicator, but if you do not already have a copy of it you can download from below.
Attached File(s)
File Type: mq4 camarilladt.mq4   47 KB | 496 downloads
  • #1,412
  • Feb 24, 2012 5:23am Feb 24, 2012 5:23am
Quoting mvtrader2000
The very best levels of S & R will always be the ones that you plot yourself, but a lot of traders find the camarilla indicator quite useful. You may want to cut out some of the levels - especially the extra fib levels (which this indicator allows you to do), but I suggest keeping in the break out and break out target levels.

This is a MetaQuotes indicator, but if you do not already have a copy of it you can download from below.
Yeah I am starting to become better at plotting/picking the strong levels of importance
Thanks for the indi, I have heard about camarilla but never gone into it, i think i will check it out!
Thanks, Rob
  • #1,413
  • Feb 24, 2012 3:20pm Feb 24, 2012 3:20pm
Quoting mvtrader2000
The very best levels of S & R will always be the ones that you plot yourself, but a lot of traders find the camarilla indicator quite useful. You may want to cut out some of the levels - especially the extra fib levels (which this indicator allows you to do), but I suggest keeping in the break out and break out target levels.

This is a MetaQuotes indicator, but if you do not already have a copy of it you can download from below.

Very interesting indi.
  • #1,414
  • Mar 11, 2012 10:55am Mar 11, 2012 10:55am
Quoting mvtrader2000
The very best levels of S & R will always be the ones that you plot yourself, but a lot of traders find the camarilla indicator quite useful. You may want to cut out some of the levels - especially the extra fib levels (which this indicator allows you to do), but I suggest keeping in the break out and break out target levels.

This is a MetaQuotes indicator, but if you do not already have a copy of it you can download from below.
I love the camarilla indi, use it quite a while, but i cant plot it
on the M1 chart only from M5 to higher.

System message:

camarilladt EURUSD,M1: zero divide

Does someone also receives this message?

And btw. is here a well going Daily Pivot Points Thread. Preferred M1
80 % of my trading is Pivot bases so i would be nice to see
some other people using pivot for daily business..
How to opt out annoying user signatures ??
  • #1,415
  • Mar 11, 2012 3:30pm Mar 11, 2012 3:30pm
Quoting Toranaga
I love the camarilla indi, use it quite a while, but i cant plot it
on the M1 chart only from M5 to higher.

System message:

camarilladt EURUSD,M1: zero divide

Does someone also receives this message?

And btw. is here a well going Daily Pivot Points Thread. Preferred M1
80 % of my trading is Pivot bases so i would be nice to see
some other people using pivot for daily business..
Hello Toranaga,

Generally the camarilladt indicator is not used on the lower time frames and so I doubt you will get it to work on a 1 min chart, but you can always manually plot the required levels from a higher time frame if you only or mostly use M1

I am afraid that this thread is no longer very active.

Good luck with your trading.
  • #1,416
  • Mar 12, 2012 2:26am Mar 12, 2012 2:26am
Hello traders!

Here are my charts with currently watching levels at 4hr. timeframe.

Once I see the market is ready to go up - I would buy off that level.
Attached Image (click to enlarge)
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  • #1,417
  • Mar 12, 2012 5:29am Mar 12, 2012 5:29am
Quoting dim4ik42
Hello traders!

Here are my charts with currently watching levels at 4hr. timeframe.

Once I see the market is ready to go up - I would buy off that level.
Long now...

let's see what happens
Attached Image (click to enlarge)
Click to Enlarge Name: long.gif Size: 16 KB
  • #1,418
  • Mar 14, 2012 3:19am Mar 14, 2012 3:19am
Hello traders!

Here is my view at current levels at 4hr charts. I would like to go long here if the buyers will go in top of bears.

By the way - my previous long trade was a profitable one. Of course it did not reach the profit target, but at least it was more than a BE trade. I mean - no much profit, just a little with trail stop, but not a loss trade lol.



So... charts:
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  • #1,419
  • Edited 7:35am Mar 16, 2012 5:32am | Edited 7:35am
Ok... here I post my current new short trade.

I feel like the market would bounce off this level... Well - who knows. We'll see. (But hope I would be lucky enough... lol )

In fact, as I understand trading - we should catch a move to make money. Stalling market would not give us money. We should spot unbalanced (moving) market to make money. So - what I do now is just I find the level (based on previous turning points), and then look if the market will reverseand bounce off that level. Why do i look for market reversal - to be the first in new direction move. Because the only way we could make money trading is if other people will do what we do but after we do (shorting after our short). In other words: if I would catch runner - I would make money. If there would be no runner there - I would bail out as quick as possible (to not loose many of my own money).

Hope - it helps.




EDIT: bail out at 3090 with little loss

Here is the charts:
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  • #1,420
  • Oct 26, 2012 4:20am Oct 26, 2012 4:20am
Hello traders!

I want to post here my current long trade.

This trade is based only at S/R lines and PA.

Good luck!
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