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A Disciplined 15min method

  • #21
  • Nov 4, 2012 1:50am Nov 4, 2012 1:50am
Nice thread. Please post more examples. Thanks!
  • #22
  • Nov 4, 2012 7:13am Nov 4, 2012 7:13am
5 trades for the first part of the week(I try to stay away from trading Friday's because they are typically bad trading days for me....I never know when the market will actually trend, range or just have wild swings with profit taking...so I just tend to watch and not trade). 210pips profit...I'd say that was a good week. They aren't all like that, normal results are around 100pips/week(some weeks less, some weeks more).
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  • #23
  • Nov 4, 2012 7:14am Nov 4, 2012 7:14am
Trade 2
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  • #24
  • Nov 4, 2012 7:15am Nov 4, 2012 7:15am
trade 3
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  • #25
  • Nov 4, 2012 7:15am Nov 4, 2012 7:15am
trade 4 & 5
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  • #26
  • Nov 5, 2012 7:37am Nov 5, 2012 7:37am
One of the keys to being profitable...knowing when you are wrong and/or the setup is no longer valid! Do you have the discipline to exit for a small loss?
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  • #27
  • Nov 6, 2012 10:51am Nov 6, 2012 10:51am
This trade made up for yesterdays loss and still gave a little profit!
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  • #28
  • Nov 6, 2012 10:54am Nov 6, 2012 10:54am
Well guys and gals, I think there are plenty of examples on here. The last couple were pretty much live trades(I posted as soon as I could after I closed my trade). I haven't heard many questions from you all, so either you guys aren't really interested in trading this way(I don't mind...it's not for everyone) or you guys are trading it successfully.

Anyway, I'm pretty much done posting on here. Feel free to ask questions or talk amongst yourselves. Good luck, Trade Smart, Stay Disciplined and Happy Trading!
  • #29
  • Nov 6, 2012 11:15am Nov 6, 2012 11:15am
  •  gil
  • | Joined Jan 2012 | Status: try to master himself first | 63 Posts
Trading like you do is interesting....
on the example you gave, you did a lots of pattern M and W's but the bad thing about it is about the subjectivity of it.

If i look at a chart 15m whatever, i see M and W's everywhere. (/O-O).

Nice to have an opinion about this.
thanks
  • #30
  • Nov 6, 2012 3:31pm Nov 6, 2012 3:31pm
Quoting gil
Trading like you do is interesting....
on the example you gave, you did a lots of pattern M and W's but the bad thing about it is about the subjectivity of it.

If i look at a chart 15m whatever, i see M and W's everywhere. (/O-O).

Nice to have an opinion about this.
thanks
Good question...and you are correct, M's and W's are everywhere when you only look at the charts. But if you add in the moving averages and stochastics, you can start to filter out some of them. Also, if you take a look at the higher timeframe charts(daily, 4hr, 1hr) to just get an idea of the overall trend...trading with the trend gives you a higher probability of a winner. And lastly, ADR(average daily range) is a great tool! Example: if G/U moves 150pips a day on average...and price just sold off 130pips, then the odds are pretty good it's done selling for the day so you should look for a W pattern(double or triple bottom) to go long!

I will never recommend entering a trade based on one reason such as a W or M...you MUST have 3 or more reasons to enter a trade!!! I hope that helps.
  • #31
  • Nov 6, 2012 11:41pm Nov 6, 2012 11:41pm
Hi Tw0eleven

Thanks for the thread and all the examples. It looks to be a solid method of trading.

You posted examples of a loss in Post #26. Would you mind stating the "MUST have 3 or more reasons to enter a trade" for the example posted please?

Do you count the Double Bottom / W signals as one reason or two?

As it was a potential countertrend trade would it have been better to wait for a divergence of the stochastic or do you not give any weight to this in a countertrend trade?

Being "flat" in the market can also be a good trade.


Regards
  • #32
  • Nov 7, 2012 5:09am Nov 7, 2012 5:09am
Quoting duffy
Hi Tw0eleven

Thanks for the thread and all the examples. It looks to be a solid method of trading.

You posted examples of a loss in Post #26. Would you mind stating the "MUST have 3 or more reasons to enter a trade" for the example posted please?

Do you count the Double Bottom / W signals as one reason or two?

As it was a potential countertrend trade would it have been better to wait for a divergence of the stochastic or do you not give any weight to this in a countertrend trade?

Being "flat" in the market can also be a good trade....
In post #26 I didn't list all the reasons because I was hoping someone else would try listing them instead of me. And if I post any more examples from now on, I'll most likely just post the trade without reasons to get everyone thinking about why I entered.

As for the double bottom/W...those are basically the same thing for me, so it's 1 reason.

Regarding your divergence question...there was actually divergence on stochastics, it just happened a little earlier(look at the first leg down on the W pattern versus just prior to that).

And you are correct, being flat could be a good trade...if you don't feel comfortable with a trade, stay out or get out of it as soon as possible.

Happy trading!
  • #33
  • Nov 11, 2012 10:12pm Nov 11, 2012 10:12pm
i like this system. im using it right now, is there an indicator to determine the distance in PIPS, the current price & the moving average?

i want it to plot the distance between the 12EMA and current price, i noticed that if the distance is >40 pips, the percentage of reversal is higher.
  • #34
  • Nov 12, 2012 3:09am Nov 12, 2012 3:09am
Quoting chikanesoup
i like this system. im using it right now, is there an indicator to determine the distance in PIPS, the current price & the moving average?

i want it to plot the distance between the 12EMA and current price, i noticed that if the distance is >40 pips, the percentage of reversal is higher.
I don't have an indicator for that. Perhaps a search on ForexFactory would come up with one from someone else though? But I agree with you, the further away from the 12ema, the higher probability of a reversal!

On a side note...when you are trading reversal trades, the safest target price for profit is at/near one of the higher moving averages...50 or 200. So make sure you have at least 20pips room to move if you are looking for 20pips or profit. If you are looking for 50pips, then make sure you have 50pips of room back to the moving average.
  • #35
  • Nov 12, 2012 4:32am Nov 12, 2012 4:32am
THANKS for that if you found an indicator like that, pls share it.
  • #36
  • Edited 10:10am Nov 12, 2012 10:08am | Edited 10:10am
Quoting chikanesoup
THANKS for that if you found an indicator like that, pls share it.
Quoting cja
Hi,
I had little spare time so made another way of displaying the MA to Price.

Attachment

Attachment
This is not exactly what you are looking for, but you may find it helpful. It also can be applied at least two times to the same chart (for different MA periods). Hope it helps!

The second attachment shows a picture of what the indicator looks like......The first is the indicator itself...
  • #37
  • Nov 12, 2012 6:25pm Nov 12, 2012 6:25pm
Quoting Tw0eleven
Have to know when NOT to trade too...
twoeleven ... hi, thanks for being to share your system, I am following it with great attention, but I'm having a problem with the graphics you posted, is that my mother language is not English and who have there written in the charts I can not understand because they do not understand english, hope I'm not asking for much, but asked to write the post so off the charts for me and other followers of your forum can an easier way via google translator view the graphics and logo have the translation next to your chart that we see, so asked if it was possible to what is written in their charts already posted, which also put off the charts for me to translate through google translator.
thank you
respects
jvbs
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Work very hard until you get there (excuse my english)
  • #38
  • Nov 13, 2012 2:52am Nov 13, 2012 2:52am
Quoting jvbs
twoeleven ... hi, thanks for being to share your system, I am following it with great attention, but I'm having a problem with the graphics you posted, is that my mother language is not English and who have there written in the charts I can not understand because they do not understand english, hope I'm not asking for much, but asked to write the post so off the charts for me and other followers of your forum can an easier way via google translator view the graphics and logo have the translation next to your chart that we see, so asked if it was...
I'm not sure exactly what you are asking, but you should be able to just type what I have written on the charts into the google translator for the language you want. Happy Trading!
  • #39
  • Nov 13, 2012 3:56am Nov 13, 2012 3:56am
Quoting Tw0eleven
I'm not sure exactly what you are asking, but you should be able to just type what I have written on the charts into the google translator for the language you want. Happy Trading!
TwOeleven see if you understand now what I want, and this is just a favor to ask you. It's what you write on the chart that you copy and paste the chart off the chart in your post.
understand?
This makes it much easier for me to follow your reasoning, I'll put an example
pips good for you!

----------------------------------------------

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when price is consolidating and the moving averages are all flat and/or bunched together like this... STAY OUT! You would just be guessing which way price is going and gambling our money away!
Work very hard until you get there (excuse my english)
  • #40
  • Nov 13, 2012 4:25am Nov 13, 2012 4:25am
Quoting jvbs
TwOeleven see if you understand now what I want, and this is just a favor to ask you. It's what you write on the chart that you copy and paste the chart off the chart in your post.
understand?
This makes it much easier for me to follow your reasoning, I'll put an example
pips good for you!

----------------------------------------------

Attachment
when price is consolidating and the moving averages are all flat and/or bunched together like this... STAY OUT! You would just be guessing which way price is going and gambling our money...

Sorry my friend, I like to write on the chart to show exactly where and what I am talking about. But feel free to hand type what I write into the google translator...it will do the same thing for you as copy&pasting. Cheers.
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