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Another simple system - Time-Frame 15

  • #11,401
  • Oct 27, 2012 3:07am Oct 27, 2012 3:07am
Quoting emmanuel7788
Hi Arjun,

I also don't think it is necessary to update Post#1. The fundamental is there already. Those are the pillars or foundation of this simple method.
Every trader who wants to learn this method of trading must have the passion to be a trader, knows what it takes to become a sucessful trader, must have the commitment to work diligently to achieve high win rate and maintain the consistency over a longer time span. There is no short cut nor fast track method to learn this simple method. You can learn this method in a few hundred hours. But...
yes thats very true. studying the thoery of all this and then practicing are 2 different parts.

If I learn the game of soccer/football well, if i learn every rule , if i learn every successful way of kicking the ball without going on the field doesnt mean i will go on the field and start playing like the pros.
Leave alone playing like the pros i think you wont be able to play at all.

You have to learn those rules you have to learn everything about it and then after that you have to come on the feild and put in those practice hours. Hour upon hour. training and practicing consistently.
Thats when you will be able to play soccer and football well.

Even after all that no matter how many hours you put in some players will still be better coz of the passion , the drive, the motivation THE EDGE they will have.

We just have to do the best we can and be consistent.

By the way i have like 3500 to 4000 hours of FX time. I have a long way to go for 10 000 hours
X-man the legendary conqueror of markets
  • #11,402
  • Oct 27, 2012 3:10am Oct 27, 2012 3:10am
[quote=Ramjet;6137615]
Quote
lol, yes I know what you mean, I'm really struggling trying to keep up as I read like a turtle and my eye's are killing me..

oh man, your a freak!!

Must be a great project to get you away from your trucks of Pip Gold..

Oh man, I will be so happy when I can get to understanding and reading the chart like you do..

Buddy with the things i started seeing i feel like a noob.
I still have lots and lots of practice to do.

dont worry the turtle still finishes the race which is important.
We must not quit.
Lest all finish that race guys
slowly but surely.
X-man the legendary conqueror of markets
  • #11,403
  • Edited 3:29am Oct 27, 2012 3:17am | Edited 3:29am
Quoting emmanuel7788
This Weekend' Homework

Train your Eyes.

Create a new Profile in your MT4
Open 3 charts in this new Profile
Make the 1st chart M15 TF
Make the 2nd chart H1
Make the 3rd chart H4

Re-arrange the chart windows so that you can see a bigger M15 chart, and the two H1 and H4 as smaller windows as shown in the attachment below.

Add the same 10 EMA to each of the 3 charts.
For the M15 chart, add the EMA200 and EMA800. The EMA 50 is option but I like it in M15.

After you have doen this and happy with what you see.. Save that Profile with your prefer...
Exercise is very very very important. we need our blood to flow to our brains. Sometimes when i sit too long infront of the PC things start to get blurry. I leave the PC i take a walk , i skip , do push ups maybe go play squash. when i get back i feel a lovely lovely good energy flowing through me and then i see things better

we even forget how to breathe.
Always breathe. take deep long breaths. fill you lungs with that air. and then when you release the air release all the negativity and bad energy.
X-man the legendary conqueror of markets
  • #11,404
  • Oct 27, 2012 5:06am Oct 27, 2012 5:06am
Quoting loveevery1
[color="Red"][size="3"][b][font="Courier New"]This is to all my brother and sister and particularly to my dear BROTHER PAT...

Imagination is more important than knowledge.

Great spirits have always encountered violent opposition from mediocre minds. The mediocre mind is incapable of understanding the man who refuses to bow blindly to conventional prejudices and chooses instead to express his opinions courageously and honestly.

Bear in mind that the wonderful things you learn in your schools are the work of many generations, produced...

thank you
  • #11,405
  • Oct 27, 2012 5:41am Oct 27, 2012 5:41am
hi everyone,
i hope you are having a lovely weekend and happy belated eid al adha to my muslim brothers.

we learn how to trade the markets here. we basically follow what "they" are doing. but i thought maybe it is time to look in a bigger picture what they are doing. where are the big trends (that big hedgefunds for example use to make their money)

we follow short - medium trends but we should have a large picture in the back of ours heads. after all the currency markets are closely related to world politics and well beings of countries. and especially the eu is standing on the edge.

please have a look at those charts in this order :
H4
D1
W1
M1

from a very technical perspective that aligns with a fundamental one. what have we learnt about frequent visits to the 200 ema? please tell me and feel free to discuss with me.

peace and love
steph

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  • #11,406
  • Oct 27, 2012 7:42am Oct 27, 2012 7:42am
Thanks for your reply and also thanks to other brothers for their inputs.

I think I was misunderstood, I am not looking for shortcuts or substitutes. I only was looking for future references to interesting & important posts. thats all. There are some relevant posts that add value to the first post, but anyways, its ok. Thanks to Ramjet and other fellow traders for sharing the link & pdfs to such important posts, truely helpful and appreciated.

Thanks all



Quoting loveevery1
Brother...sashadeol.I know what you mean.I dont want too much attention to this thread.and i dont want easy way to learning this thread.and the PDF is not a substitute to learning the thread.i still feel thread has more information than the PDF.Every month is a chapter.It will teach the reader patience in life and in forex.Reading is very very important...

Most of the folks out there will think that this is another mechanical system with the indicators and so on....Thank heavens even the thread name is the simple lol....

I dont want to update...
If you want your dreams to come true, you better wake up !!!
  • #11,407
  • Oct 27, 2012 7:46am Oct 27, 2012 7:46am
Thanks X-man, as shared above, I think my message was misunderstood.
Sorry, as brother Arjun, I am also from India, so english is not my first language....

God Bless.


Quoting X-Man
Yes i agree with this post.
The traders thats hungry for knowledge will learn.
The PDfs are a great help but it wont give you that experience from post 1 until current post to set your mind in a certain way.
The PDFs will only help a trader only after he read the entire thread.
There are many many small posts made by noobs that a person has to read with the reply of arjuns to really understand the process to its full ability.

You know sometimes we read arjuns posts and think there was nothing really there coz he mustve said few words and that...
If you want your dreams to come true, you better wake up !!!
  • #11,408
  • Oct 27, 2012 7:48am Oct 27, 2012 7:48am
Thanks brother Emmanuel, I will try to be more clear next time....

God bless..

Quoting emmanuel7788
Hi Arjun,

I also don't think it is necessary to update Post#1. The fundamental is there already. Those are the pillars or foundation of this simple method.
Every trader who wants to learn this method of trading must have the passion to be a trader, knows what it takes to become a sucessful trader, must have the commitment to work diligently to achieve high win rate and maintain the consistency over a longer time span. There is no short cut nor fast track method to learn this simple method. You can learn this method in a few hundred hours. But...
If you want your dreams to come true, you better wake up !!!
  • #11,409
  • Oct 27, 2012 7:54am Oct 27, 2012 7:54am
X-Man

I love your spirit in this forum - it is so positive and friendly! To receive a vouch from a master like you, truly means a lot to me. Thank you and I wish you all the very best!
  • #11,410
  • Oct 27, 2012 9:10am Oct 27, 2012 9:10am
Quoting 99problems
i saw that one too

hi everyone,

i tried to play like pkimync this morning (maybe it was a bit risky?)
set TP above H4 10 EMA to 1.6095 , SL was 5 pips initially and moved to 0 pips after the first candle

was up +19 at climax, TP missed by 2 pips and just got taken out when i woke up again lol.

i need some serious lesson in money/trade management.
uni time, wish u all green pips

peace and love
steph

Attachment
yes, it was a bit risky. you've identified the range top and bottom and you've shorted at the bottom range. btw, that's not the type of range breakout i would have concentrated. pre session range needed to be formed either at the high or at the low.
  • #11,411
  • Oct 27, 2012 11:00am Oct 27, 2012 11:00am
Quoting sashadeol
Thanks for your reply and also thanks to other brothers for their inputs.

I think I was misunderstood, I am not looking for shortcuts or substitutes. I only was looking for future references to interesting & important posts. thats all. There are some relevant posts that add value to the first post, but anyways, its ok. Thanks to Ramjet and other fellow traders for sharing the link & pdfs to such important posts, truely helpful and appreciated.

Thanks all
Brother seshadeol...I know what you mean my friend...the message was not to you but to the newcomers...you are with us for sometime now..im sure you went through the entire thread.I know you were requesting me to update the thread for the newcomers...

The message was indeed to the newcomers of the thread...Not to you my brother...we were just discussing the general mentality of a newcomer...

Trust me everyperson who comes in NEW will straight away come to the last page on the thread and see whats going on....Its the HUMAN MIND...my friend...
Sorry again if you thought that way.Stay blessed.
Let all the living things live blissfully
  • #11,412
  • Oct 27, 2012 11:10am Oct 27, 2012 11:10am
Quoting pkimnyc
yes, it was a bit risky. you've identified the range top and bottom and you've shorted at the bottom range. btw, that's not the type of range breakout i would have concentrated. pre session range needed to be formed either at the high or at the low.


hi pkimnyc,

thanks for teaching a newbie like me.

i guess by low and high you mean the previous day's high-low and then the subsequent day's range before the session (to see if we go higher or don't cross the last day's high)?

for the trade i took within the range: i thought of the candle that went back into the range as a retracement candle.
see attached pic

thank you for your valuable time
steph

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  • #11,413
  • Oct 27, 2012 11:19am Oct 27, 2012 11:19am
Quoting 99problems
hi pkimnyc,

thanks for teaching a newbie like me.

i guess by low and high you mean the previous day's high-low and then the subsequent day's range before the session (to see if we go higher or don't cross the last day's high)?

for the trade i took within the range: i thought of the candle that went back into the range as a retracement candle.
see attached pic

thank you for your valuable time
steph

Attachment
2 types of range:

1. initial sell off or rally, then consolidation. (continuation)
2. range at the session high or low, session changeover and price can't push through the session high or low. (reversal)

these are the typical setups, and amount of volume coming in the market is important factor along with candle formation.

p.s. 2nd pull back or consolidation are the last opportunity, to be safe.
  • #11,414
  • Oct 27, 2012 11:22am Oct 27, 2012 11:22am
Quoting pkimnyc
2 types of range:

1. initial sell off or rally, then consolidation. (continuation)
2. range at the session high or low, session changeover and price can't push through the session high or low. (reversal)

these are the typical setups, and amount of volume coming in the market is important factor along with candle formation.

p.s. 2nd pull back or consolidation are the last opportunity, to be safe.
gotcha,
will practise it right now
thanks

peace and love
steph
  • #11,415
  • Oct 27, 2012 11:49am Oct 27, 2012 11:49am
Quoting X-Man
Yes i agree with this post.
The traders thats hungry for knowledge will learn.
The PDfs are a great help but it wont give you that experience from post 1 until current post to set your mind in a certain way.
The PDFs will only help a trader only after he read the entire thread.
There are many many small posts made by noobs that a person has to read with the reply of arjuns to really understand the process to its full ability.

You know sometimes we read arjuns posts and think there was nothing really there coz he mustve said few words and that...

Some great points there X-Man... Its been great reading your comments as well as other posters.

Extremely important for people to read the entire thread (if they are looking for this trading method as their primary style) to grasp the idea behind the trading knowledge of you guys. I also feel that the pdf docs can be very helpful for experienced traders who are looking for just additional ideas which could supplement their own trading style.

Personally have some years experience and doing ok, but am reading through the entire thread to gain ideas and knowledge. Markets dynamics are always changing so its great to get on board new ideas.

Excellent stuff guys, well done.
  • #11,416
  • Oct 27, 2012 1:23pm Oct 27, 2012 1:23pm
Quoting 99problems
hi pkimnyc,

thanks for teaching a newbie like me.

i guess by low and high you mean the previous day's high-low and then the subsequent day's range before the session (to see if we go higher or don't cross the last day's high)?

for the trade i took within the range: i thought of the candle that went back into the range as a retracement candle.
see attached pic

thank you for your valuable time
steph

Attachment
btw, another thing...
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  • #11,417
  • Oct 27, 2012 2:42pm Oct 27, 2012 2:42pm
Quoting pkimnyc
this is one of the topping formations.

notice the volume of the rally before the consolidation.
as the price inching higher, volume decreases = first red flag (weakness).
rest is self explanatory, i think.

how many things are telling you to short at the top?
thanks for your detailed explanation,

i see some support to the left, bearish divergence with big volume (don't know anything about indicators) and after the second rejection we could assume that there are some serious sellers above? thus we get in at the top?

to be honest i am just listing things that seem obvious but i don't know much about them. how can we be certain the lower support line of the range will NOT hold?
newbie as i am, i would have probably waited for a retracement (1-2-3) that never happened.

peace and love
steph
  • #11,418
  • Oct 27, 2012 3:19pm Oct 27, 2012 3:19pm
Quoting 99problems
thanks for your detailed explanation,

i see some support to the left, bearish divergence with big volume (don't know anything about indicators) and after the second rejection we could assume that there are some serious sellers above? thus we get in at the top?

to be honest i am just listing things that seem obvious but i don't know much about them. how can we be certain the lower support line of the range will NOT hold?
newbie as i am, i would have probably waited for a retracement (1-2-3) that never happened.

peace and love
steph
markets don't unusual like volume spikes. that ultra volume spike with wide range bar is a good example, failed close above the range high, failed to put the momentum back up to the north side. after that we get huge amount of volume flowing in, yet price not going anywhere tells me that the sellers are swarming in. bottom range wasn't going to hold at this point.

another thing to note: try to distinguish between consolidations and tops and bottom formations.

typical top and bottom formations: head and shoulder, M and W (also known as double tops and bottoms), and half batman.
  • #11,419
  • Oct 27, 2012 3:22pm Oct 27, 2012 3:22pm
hi again,

white box is the range i identified,
green one would have been the entry.

peace and love
steph

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  • #11,420
  • Oct 27, 2012 3:22pm Oct 27, 2012 3:22pm
Quoting pkimnyc
markets don't like unusual volume spikes. that ultra volume spike with wide range bar is a good example, failed close above the range high, failed to put the momentum back up to the north side. after that we get huge amount of volume flowing in, yet price not going anywhere tells me that the sellers are swarming in. bottom range wasn't going to hold at this point.

another thing to note: try to distinguish between consolidations and tops and bottom formations.

typical top and bottom formations: head and shoulder, M and W (also known as double...
thanks buddy
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