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  • #821
  • Nov 8, 2012 6:44am Nov 8, 2012 6:44am
Hi, FXGroup,
I'm trying to go through all the old stuff in this thread, learning a lot from you, thank you!

Hope we are lucky enough to have you to guide us and teach us more new stuff in the future.

I will be here learning patiently.
  • #822
  • Edited 7:04pm Nov 8, 2012 7:00pm | Edited 7:04pm
Hello!
I didn't present myself on my previous posts, so i appologize for that!

My name is Iulian Pojar, i'm learning and trading this system because it gives me the time to live my life ( i overtraded and it cost me dear ). I have read all posts from this thread and allways keep watching it closely.

Thankyou, fxgroup, for teaching us this system!

I have questions with it:
How many times a day do you look at your positions/trades and act on them ? ( i do this once a day; i learnd that you should do this once in any given timeframe, ex.: if timeframe is 15minutes then you must look once in 15minutes, i did this with other systems and it gave me confidence and comfort )
When do you do preparations and strategies on how you will act? ( i usually do this on weekends, saturdays, for all pairs, and on the first day of the month )
  • #823
  • Nov 9, 2012 12:15am Nov 9, 2012 12:15am
to know how to get into the market is the first step.

But I think it's the most difficult part to hold the position to the target. FXgroup, could you talk about your experience about holding the position to the final target?

That's a question about how to maximize our profit.
  • #824
  • Edited Nov 11, 2012 4:39am Nov 10, 2012 9:28pm | Edited Nov 11, 2012 4:39am
Hi FxGroup and all, this is my first post EVER in FF, after lurking around reading AWESOME threads like James16 and this. I've decided to apply this strategy because of it's simplicity and clear objective. I'm new to FOREX trading, and I'm still in 9-5 job. So my strategy is to analyze charts in the weekends, starting with M -> W -> D. If I see any pairs that obeys the rules, I will keep an eye on the D during the weekdays in the following week for signals/confirmations to enter the trade. Hope this makes sense.

Here is an example of an analyze, and there's 1 question. Please do comment, as I wish to know if my analysis is valid. Thanks.

Analysis (WPD +WPG):

M: In an uptrend, bounced off M S.
W: In an uptrend, price working off 3 BULL FLAGS, one after another. Last week W closed above W R+RM top with DB pattern. Is the 4th one coming?

D: In an RM, price broke out of RM with 4 possible signals: PB at M S, BUOB at 1st W R, BUOB at 2nd W R. Signalling LONG!

All 3 TF's in sync, signalling long. The final TP area will be the M R.

My doubt is, does the close of the last Daily bar (BUOB) CONFIRMS the Weekly close above the W R, or we will have to wait for the next few Daily bars to confirm it?

Is this a good buying oppurtunity?

Comments are welcomed from ALL!!

PS: I'm still on demo. obeying 3 months consequtive profits before starting a small sized live account

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Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #825
  • Nov 12, 2012 2:34am Nov 12, 2012 2:34am
Hi Iulian and wellcome !
All my analisies are made on candle CLOSED...too many times I have seen the candle changing in the last part of the day...so ONLY with the candle CLOSED !
Every end of the month and week I read my charts and establish the PTT&TTP...then at the end of every day I make the same thing on D charts.

@outman...I have several methods for applying the right MM, but the hardest part is the initial part till the first MM level that allows me to put the trade on safe...especially if the P has not a good momentum.
The MM concept is a very complex one and for every aspect you need to know....all you have to do is ASK !
Nothing personal,just business
  • #826
  • Nov 12, 2012 8:29am Nov 12, 2012 8:29am
Hello FXGroup and fellow traders.

Today, I did some backtesting on the EURJPY and i found something interesting.

M: In RM. Price was in a long term downtrend, with RN103 being the passed through a few times.
W: In RM, after a small uptrend. W price closed above M R + RN103. (19.10.2012)
D: Price retested RN130, and PB formed, after sellers got rejected right at RN103. A perfect signal for LONG entry. however, this ended up a loss.

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FXGroup, do you mind analysing these and give your comments on why the signal failed? Or it happens all the time (as market just does what it wants?)?

Thanks!
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #827
  • Nov 12, 2012 9:58am Nov 12, 2012 9:58am
I love learning Price Action Forex, simple and clear charts. I hope i can learn more. Ty fxgroup.
  • #828
  • Nov 12, 2012 2:14pm Nov 12, 2012 2:14pm
[quote=keroro0o0o;6186900]
Quote
Hello FXGroup and fellow traders.

Today, I did some backtesting on the EURJPY and i found something interesting.

M: In RM. Price was in a long term downtrend, with RN103 being the passed through a few times.
W: In RM, after a small uptrend. W price closed above M R + RN103. (19.10.2012)
D: Price retested RN130, and PB formed, after sellers got rejected right at RN103. A perfect signal for LONG entry. however, this ended up a loss.

FXGroup, do you mind analysing these and give your comments on why the signal failed? Or it happens all...
Hello keroro and wellcome !
You are using different ways to identify the W and D RMs.
Meanwhile on W you use the SW's open/close, on the D you use the candle's tails.

As I concern I have an essential rulles regarding the PA candle in RM: the PA candle's close MUST have the close within the previous SW !....let's see some exemples in order to get this more clear !

Do you see the difference ?...let me know is it all clear....if you will look on P's history, you will notice that this rule keeps you out of a lot of problems !
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Nothing personal,just business
  • #829
  • Nov 12, 2012 7:12pm Nov 12, 2012 7:12pm
[quote=fxgroup;6187671]
Quoting keroro0o0o
Hello keroro and wellcome !
You are using different ways to identify the W and D RMs.
Meanwhile on W you use the SW's open/close, on the D you use the candle's tails.

As I concern I have an essential rulles regarding the PA candle in RM: the PA candle's close MUST have the close within the previous SW !....let's see some exemples in order to get this more clear !

Do you see the difference ?...let me know is it all clear....if you will look on P's history, you will notice that this rule keeps you out of a lot of problems...
Hi fxgroup, thanks alot for the reply.

The Line i've drawn was from the M chart and it was a RN 103, and from the W chart, it respected that line quite well. I didn't draw any lines from the D chart as i assume it's less significant as compared to M and W chart. I remember earlier in this thread, you did show an example of trade, which we use the SW drawn from M+W as a guideline to trade in the D.

So in this case, do you mean that we should take into consideration also SW & S/R lines from D in order for any entries? because this would definitely make the chart much more cluttered, and it'll be harder for a trade to be executed, as the MM will be hard..

I greatly appreciate your help. I've never imagined, that it would be this beneficial to be reading a forum, and getting such great help from everyone here. FF is simply an amazing place to be.
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #830
  • Nov 12, 2012 9:23pm Nov 12, 2012 9:23pm
Hi,fxgroup,

I want to know what MT4 you are using, because I can't find so many currencies, such as nzdchf, Where can I download a better MT4.


Thank you for your help.
  • #831
  • Nov 13, 2012 2:18am Nov 13, 2012 2:18am
Quoting keroro0o0o
[quote I remember earlier in this thread, you did show an example of trade, which we use the SW drawn from M+W as a guideline to trade in the D.
I use M/W levels, but when I see a RM on D, I am very carefully with the PA candle's close ....different thing when the P is in strong trend !

Quote
I've never imagined, that it would be this beneficial to be reading a forum, and getting such great help from everyone here. FF is simply an amazing place to be.
Agree !
Nothing personal,just business
  • #832
  • Nov 13, 2012 3:30am Nov 13, 2012 3:30am
Quoting outman
Hi,fxgroup,

I want to know what MT4 you are using, because I can't find so many currencies, such as nzdchf, Where can I download a better MT4.


Thank you for your help.
I sent you a pm in order to avoid any kind of advertising .
Nothing personal,just business
  • #833
  • Nov 13, 2012 4:43am Nov 13, 2012 4:43am
[quote=fxgroup;6187671]
Quoting keroro0o0o
Hello keroro and wellcome !
You are using different ways to identify the W and D RMs.
Meanwhile on W you use the SW's open/close, on the D you use the candle's tails.

As I concern I have an essential rulles regarding the PA candle in RM: the PA candle's close MUST have the close within the previous SW !....let's see some exemples in order to get this more clear !

Do you see the difference ?...let me know is it all clear....if you will look on P's history, you will notice that this rule keeps you out of a lot of problems...
Hi fxgroup,

From your chart, there was a BUOB on the 3rd Daily bar after the price broke out of the RM/SW, and there was nca for confirmation. notice that the BUOB would signal a LONG entry, which possibly triggered the next day, but price immediately backfired. Would you be entering the trade if you see this? Doing some backtesting here

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Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #834
  • Nov 13, 2012 5:04am Nov 13, 2012 5:04am
[quote=keroro0o0o;6190032]
Quote

Hi fxgroup,

From your chart, there was a BUOB on the 3rd Daily bar after the price broke out of the RM/SW, and there was nca for confirmation. notice that the BUOB would signal a LONG entry, which possibly triggered the next day, but price immediately backfired. Would you be entering the trade if you see this? Doing some backtesting here
The M+W are in bearish channel at the R level...and for now that is the most important information of this pair...so all we have to do is to wait to see the W RM cleared. If the sellers close bellow BRN 100, then 97.50 becomes the next TG...but right now the P is stuck in RM @ channel's R level.
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Nothing personal,just business
  • #835
  • Nov 13, 2012 5:25am Nov 13, 2012 5:25am
[quote=fxgroup;6190110]
Quoting keroro0o0o
The M+W are in bearish channel at the R level...and for now that is the most important information of this pair...so all we have to do is to wait to see the W RM cleared. If the sellers close bellow BRN 100, then 97.50 becomes the next TG...but right now the P is stuck in RM @ channel's R level.
Totally agreed and accepted. Thanks for enlightening me. well the W + M looks like forming a BULL wedge, let's see if the price would close above the upper channel with some bullish PA for Long entry .

Once again, THANKS!
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #836
  • Nov 13, 2012 7:23am Nov 13, 2012 7:23am
Quoting fxgroup
I sent you a pm in order to avoid any kind of advertising .
Thank you so much!!
  • #837
  • Nov 13, 2012 5:02pm Nov 13, 2012 5:02pm
Quoting keroro0o0o
Hi FxGroup and all, this is my first post EVER in FF, after lurking around reading AWESOME threads like James16 and this. I've decided to apply this strategy because of it's simplicity and clear objective. I'm new to FOREX trading, and I'm still in 9-5 job. So my strategy is to analyze charts in the weekends, starting with M -> W -> D. If I see any pairs that obeys the rules, I will keep an eye on the D during the weekdays in the following week for signals/confirmations to enter the trade. Hope this makes sense.

Here is an example of an analyze,...

Hi fxgroup, do you mind looking back into this post, and tell me, whether the confirmation of the Daily bars must come AFTER the weekly close (means the bars on the following week) or it can be represented by the LAST daily bar of the week itself (as per example in the post)?

Thanks alot
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #838
  • Nov 13, 2012 9:57pm Nov 13, 2012 9:57pm
[quote=keroro0o0o;6191916]
Quote
Hi fxgroup, do you mind looking back into this post, and tell me, whether the confirmation of the Daily bars must come AFTER the weekly close (means the bars on the following week) or it can be represented by the LAST daily bar of the week itself (as per example in the post)?
The confirmation must come after the upper TF candles are closed !

Let see how we could use different levels within the RM. The most important levels for a RM are the S+R of the RM itself, all the others levels that we find inside the RM, are just simple MM levels.

DJ
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Nothing personal,just business
  • #839
  • Nov 13, 2012 10:46pm Nov 13, 2012 10:46pm
Hello to everybody. Just want to ask is there anyone trading with Oanda here? because I"m using Oanda's MT4 demo, and I noticed the close of each bar is at 00.00 EST. And I tried to compare my charts with the charts posted by members here, and it's very different..it kinda worries me.

Can someone please advise? Sorry if this wasn't the right place to ask about this..
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #840
  • Nov 13, 2012 11:24pm Nov 13, 2012 11:24pm
Quoting keroro0o0o
Hello to everybody. Just want to ask is there anyone trading with Oanda here? because I"m using Oanda's MT4 demo, and I noticed the close of each bar is at 00.00 EST. And I tried to compare my charts with the charts posted by members here, and it's very different..it kinda worries me.

Can someone please advise? Sorry if this wasn't the right place to ask about this..
I think the MT4 platform doesn't matter, because we try to figure out things behind the bars, like sellers and buyers.
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