X-Man's Super Simple System

Thanks for sharing this Fib TP concept.

I want to know when you draw fil levels what is start and end cretaria ( like today high low or yesterday high low or last TDI coress high low)

still holding the Long.

if price comes below 1.27350 (my entry point) then i might bailout with few pips of loss.
My target is 1.2775

cheers

Munir

UPDATE : BAILED OUT AT BREAK EVEN

Attention 1,27686 resistance

Runner or Not. Hidden divergence cancelled Bullish divergence. Possibly???

UPDATE
Who cares I am at B/E +2

UPdate.
% off +25

TP +34. and now Bull Divergence on the 15 min at BRN


UPDATE.

Oscillators ended up overextended so not a true Bull Divergence. That is why you should wait for candles to close.

One of the most popular indicators in the world is the 200 Day Simple Moving Average. This indicator can be found on the charts of many investment banks, hedge funds, and market makers as a key point of analysis for a multitude of reasons. The indicator’s usage has become so widespread........

http://www.forexfactory.com/news.php?do=news&id=395420

Just a quick question. Your chart shows RSI of 17 and a stoch of 14,5,3. Any particular reason for this combination?? Just curious. Apologies if you have already answered this elsewhere.

HD +34 RD +10. That will do. I was out until 15.00 (gmt +1) so not too bad.

illili, I hope you answer this; I have the same question. I've wanted to use fibs but I don't know how to plot them. It seems so subjective.

Want to know all about fibs. Check this post

http://www.forexfactory.com/showthre...37#post6045137

Check this post for Fibs

http://www.forexfactory.com/showthre...37#post6045137

Thanks, Dee. Will do.

Sorry for the late reply.. Generally you want to draw your fib lines from the prior major move swing high/lows and from left to right. So as price made major sell off as it did on this attached usd/chf chart and we get a reversal signal to go long along with the tdi crossing up confirming the entry. You would then plot the fib retracement from the highest point of the move being A to the lowest point being B. The actual fib levels are subjective but I have found peeling out of a multi lot posisitions to work well at the 38, 50 and 61 levels or even moving your stops just out side those levels. Def play with the fib tool on a real time chart, its amazing how well price respects fib levels.

Also see http://www.babypips.com/school/fibon...tracement.html

For me, it looks like the Baby Pips info might be clearer than the book. I just need a basic, simple way of looking at fibs. Anything too complicated is more than I can process. Thanks to you both.

One trade today on EU H1....taken on price breaking below the 200EMA....hit TP of 50.
For those who have asked questions, I will try to answer them over the weekend.....thanks for your patience.

Yesterday was a good day regarding my practice on the strategy

I went long on the formation of the blue candle, saw that TDI was in nice position heading up , so I kept the trade going until the market reverse back and hit my stop loss of -45 pips

got another trade but this time went short and the price went free falling and I stopped my trade with 106+ pips

and also opened 2 other short trade at the same time and got hit with another + 26 and + 34 pips, but I know it was luck only, Luck was on my side today.

Please feel free to critic my trading, or trading psychology, it will help me in the long run, better to suffer today and than feel sorry tomorrow

http://s9.postimage.org/ue77wbm1b/Untitled_1.jpg

The slop of of yellow line was still up in case of 1st trade. So it was not ok as per TDI

Thanks , so do you mean that I have to watch the direction of the yellow line ?

and then only see the confirmation of the TDI

thomi
I am attaching a chart matching the chart you posted with every cross of the TDI during that period of 3 days....I have marked each entry point and explained why I would or would not enter the trade based solely on the TDI crosses.
Trades as numbered at the top of my chart:
1...TDI below 32 crossing up...a good entry....possible 47 pip profit with a 20 pip drawdown.
2...Would not take this trade...green and red lines above the 50 line and yellow sloping up.
3...TDI green and red above the 50 line...yellow below green & red....sloping up...a good entry...possible 47 pips with a 4 pip drawdown.
4...Same conditions as #3...possible 24 pips with a 4 pip drawdown.
5...Green pulling down from 68 and crossing but the yellow is sloping up...possible trade entry but the yellow might keep me out.
6...Same conditions as #3...possible 37 pips with 0 drawdown.
7...Trade I actually took....green crossing red and yellow....exited with 20 pips.
8...Green crossing red above the 50 line...caution...yellow above green & red...scalped for 10 pips.
9...London open trade...green over red & crossing yellow...I took 20 pips due to 200 EMA line.
10..Re-entry on a bounce of green off red...both above yellow....possible 35 pips with 0 drawdown.
11..Caution...yellow below green & red but a nice pullback on two previous candles....would have taken trade...possilbe 20 pips on 4 pip drawdown.
Well over 200 possible pips in somewhat choppy market, just based on the TDI crosses and no other filters....assume you were able to capture 1/2 or 1/3 of those pips, you would be making a nice profit based on a full lot traded each time. When you build your trading plan with other factors (price action, pullbacks, fibs, EMA's, divergence, round numbers, S/R lines or areas, etc) to determine when to enter a trade, your success rate can become a very high percentage of successful trades. Each trader must put in the hours of study and learning to understand how the market works and build their OWN trading plan based on what works for them, in order to become successful. It is a difficult journey at times but very rewarding once you master your own plan. You will notice that dee50 and munirpt and others use some tools different from the ones I use and they also are successful at trading. Everyone must master their own style and trading plan.
Hope this helps....succcess to you!