X-Man's Super Simple System | Page 462 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Super Simple System for Scalping 180 replies

Please suggest a simple & effective Method/System of "Trading System" Forum to newbie 182 replies

Super Simple System 314 replies

Another great Breakout GBP/JPY System (Dachel's Simple system) 62 replies

X-Man's super simple system 4 hour method 1 reply

Attachments: X-Man's Super Simple System
Exit Attachments

X-Man's Super Simple System

  • #9,221
  • Nov 18, 2012 12:48am Nov 18, 2012 12:48am
Quoting robuk
Well done , fantastic trade on EJ. Can you please tell me what kept you in this trade , I know that I would have stopped when green did about turn and headed for red (tdi ) and looked like it just broke through very slightly , I know the candles were still blue , but were there other reasons too ?
robuk,
On the H1 time frame, once price takes me into profit 25 to 30 pips and moves on, I lock in a small profit and then usually only exit on a change of candle color or at least a 3 candle consolidation. Because price had crossed both the H1 200 AND H4 200 EMA's, I thought the move would be very strong....at the point you mentioned, I only had a 1 candle pullback and was willing to stay with the trade because I already had a small profit locked in.
Success to you!!
  • #9,222
  • Nov 18, 2012 12:58am Nov 18, 2012 12:58am
Quoting zackery
Hi Phx62,
may I ask you which FIB-Tool (Indicator) you are using in pic attached from your last post?
Thanks for any info regarding this.
Greeds Zack
I use the fib indicator that comes standard on the MT4 platform and just modified some of the descriptions.
  • #9,223
  • Nov 18, 2012 1:03am Nov 18, 2012 1:03am
Quoting mierzyk
Hello Phx,

How do you define raging market. At what point do you say to yourself: "The market is raging, im not taking 3S 1H traders from now on untill... ". Untill when?

Cheers,
mierzyk
I define a ranging market when most of the candles I see have long upper AND lower wicks and price cannot seem to find one direction without sudden pullbacks and reversals. When I see these things, I still look for good entries but use smaller TP's.
  • #9,224
  • Edited 4:12am Nov 18, 2012 1:21am | Edited 4:12am
Quoting Phx62
robuk,
On the H1 time frame, once price takes me into profit 25 to 30 pips and moves on, I lock in a small profit and then usually only exit on a change of candle color or at least a 3 candle consolidation. Because price had crossed both the H1 200 AND H4 200 EMA's, I thought the move would be very strong....at the point you mentioned, I only had a 1 candle pullback and was willing to stay with the trade because I already had a small profit locked in.
Success to you!!
Hi Phx62,

You mentioned you only exit on a change of candle color (you you wait till completion of this changed color candle or as soon as color changing in between one hr period ( some time color changed only for some minutes )

please can you clearify?

Thanks
  • #9,225
  • Nov 18, 2012 6:21am Nov 18, 2012 6:21am
Important Key level for EU on the next days
Attached Image (click to enlarge)
Click to Enlarge Name: Eu18.jpg Size: 151 KB
  • #9,226
  • Nov 18, 2012 6:41am Nov 18, 2012 6:41am
Quoting Phx62
robuk,
On the H1 time frame, once price takes me into profit 25 to 30 pips and moves on, I lock in a small profit and then usually only exit on a change of candle color or at least a 3 candle consolidation. Because price had crossed both the H1 200 AND H4 200 EMA's, I thought the move would be very strong....at the point you mentioned, I only had a 1 candle pullback and was willing to stay with the trade because I already had a small profit locked in.
Success to you!!
Thanks very much for your reply and explanation , i try to learn every day and with traders with such knowledge and graciousness as yourself helping , i feel i have more chance of success
  • #9,227
  • Nov 18, 2012 6:58am Nov 18, 2012 6:58am
Quoting munirpt
Important Key level for EU on the next days
I got fairly close on all your lines so i'm very pleased with that -- but i also had 1.2823 ?
  • #9,228
  • Nov 18, 2012 7:14am Nov 18, 2012 7:14am
Quoting robuk
I got fairly close on all your lines so i'm very pleased with that -- but i also had 1.2823 ?
well spotted!!!!
  • #9,229
  • Nov 18, 2012 7:24am Nov 18, 2012 7:24am
Learning Price Action

Hi guys

I often get asked on PM´s how one can learn price action.
Price action is a very subjective term that can lead us to learn candlestick patterns, divergences, price patters,fibs, harmonics, S/R, etc....

For me, the most important component of Price Action is to learn Support and Resistance!
I have read tons of books on the subject but the main resource from where I learned price action was through a method called CSR 100.
I don't want to introduce here any new method, just want to share one PDF that actually changed the way i was seeing markets.
The method itself was developed by some Malayan trader and all the information is mostly available in Malay language only.
I managed to translate the resources through Google Translate and compiled a PDF.

Im posting here the PDF so that you can also benefit from it.

Let me know if you liked it and if it actually helped you in some way.
Hope that it helps.

Munir
Attached File(s)
File Type: pdf Translated version of CSR100.pdf   6.9 MB | 6,713 downloads
  • #9,230
  • Nov 18, 2012 8:06am Nov 18, 2012 8:06am
Key levels for GU
Attached Image (click to enlarge)
Click to Enlarge Name: GU18.jpg Size: 158 KB
  • #9,231
  • Nov 18, 2012 8:12am Nov 18, 2012 8:12am
Key levels for GJ
Attached Image (click to enlarge)
Click to Enlarge Name: gj18.jpg Size: 161 KB
  • #9,232
  • Nov 18, 2012 8:15am Nov 18, 2012 8:15am
Key levels for EJ
Attached Image (click to enlarge)
Click to Enlarge Name: ej18.jpg Size: 174 KB
  • #9,233
  • Nov 18, 2012 8:25am Nov 18, 2012 8:25am
Why EU stopped falling?

always look at the higher timeframes.
Attached Image (click to enlarge)
Click to Enlarge Name: euD.jpg Size: 127 KB
  • #9,234
  • Nov 18, 2012 11:19am Nov 18, 2012 11:19am
Hi to all!

I am new to this forum and this is my vry first post, trading as been a passion for the last couple of years but still didn't get the necessary consistency.

This thread caught my attention and what I'd like to ask you is if the rules on post 1 are still valid after so many replies, will read it all but just to check if I am going on the right direction.

Thanks a lot for all the value sharing that is made here.

Regards.
  • #9,235
  • Nov 18, 2012 1:49pm Nov 18, 2012 1:49pm
Quoting mkfx
Hi Phx62,

You mentioned you only exit on a change of candle color (you you wait till completion of this changed color candle or as soon as color changing in between one hr period ( some time color changed only for some minutes )

please can you clearify?

Thanks
Sorry....I wasn't very clear on that....I wait for the open of a new candle of the opposite color.
  • #9,236
  • Nov 18, 2012 4:22pm Nov 18, 2012 4:22pm
Quoting dee50


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.

Hi.


I use different templates. One of them is "manually assembled TDI". I do mostly use TDI indicator, but it has some disadvantages. So at one point I decided to manually build my own TDI like indicator on base on RSI (TDI basically is RDI, so no fuss).

So, what my manually made TDI is all about:
- RSI 17 (a bit longer than RSI in TDI, but with a reason as it seems RSI in TDI is really closer to about 21 or even more, so it's smoothed somehow; bottom line, I tested the settings and this seems ok)
- Exponential 7, close on first indicator data (so, RSI) = trade signal line
- Exponential 34, close on first indicator data (so again, on RSI) = market sentiment
- Bollinger band, also close on first indicator data, but with deviation 1 (this is a big difference compared to TDI). Cross of that is more powerful than market sentiment in TDI

Result: it gives entry approximately 1 candle faster. This means, TDI as indicator is as stated somehow smoothed, although it shouldn't be. ??

Stoch 14-5-5 or 14-5-3 is a bit longer as usual only with intention to eliminates at least partially fake moves and to show signal a bit longer than original setting. Bottom line, if you want all signals, you can also use 5-3-3, even 5-2-2, but it'll be really jumpy ride.

So, this combination is nothing else as manually tested combo which seems to work good. Like I said: you can get similar results with TDI as it is, but with a bit of a delay.


BR
  • #9,237
  • Nov 19, 2012 2:56am Nov 19, 2012 2:56am
guys i have 2 questions.

We trade this based on PA and confirmed with the indies. But there are days when PA becomes extremely difficult to trade. For example, a formed pin bar rejected by a inside bar formation just 3-4 candles afterward then gets rejected again by another pin bar formation 4-5 candles afterward. I want to know how do you guys spot on these things? Do you just ignore PA that against the current trade in higher timeframe or you simply exit and enter again and later exit again?

another question. looking at phx62 charts i often saw he opened trade in the middle of the candle (and not waiting until the close of that candle). Personally i believe this is extremely difficult for me because often the price move in opposite direction after the candle close. For example, the candle breaks tripple bottom but then the candle gets rejected and form a pin bar later. How do you know if it won't get rejected, how can you have such confidence to simply open the trade in the middle of the candle? (and not waiting until it gets closed?)
  • #9,238
  • Nov 19, 2012 3:09am Nov 19, 2012 3:09am
Quoting tp0440
Hi.


I use different templates. One of them is "manually assembled TDI". I do mostly use TDI indicator, but it has some disadvantages. So at one point I decided to manually build my own TDI like indicator on base on RSI (TDI basically is RDI, so no fuss).

So, what my manually made TDI is all about:
- RSI 17 (a bit longer than RSI in TDI, but with a reason as it seems RSI in TDI is really closer to about 21 or even more, so it's smoothed somehow; bottom line, I tested the settings and this seems ok)
- Exponential 7, close on first indicator data...
Thank you. That is really interesting. I will give these a go.
Cut your Losers short and let your Winners run.
  • #9,239
  • Nov 19, 2012 4:42am Nov 19, 2012 4:42am
Quoting tp0440
Hi.


I use different templates. One of them is "manually assembled TDI". I do mostly use TDI indicator, but it has some disadvantages. So at one point I decided to manually build my own TDI like indicator on base on RSI (TDI basically is RDI, so no fuss).

So, what my manually made TDI is all about:
- RSI 17 (a bit longer than RSI in TDI, but with a reason as it seems RSI in TDI is really closer to about 21 or even more, so it's smoothed somehow; bottom line, I tested the settings and this seems ok)
- Exponential 7, close on first indicator data...
See what u mean!!! Top one your version, bottom TDI.
Attached Image (click to enlarge)
Click to Enlarge Name: see what u mean.png Size: 81 KB
Cut your Losers short and let your Winners run.
  • #9,240
  • Nov 19, 2012 4:56am Nov 19, 2012 4:56am
Quoting dee50
See what u mean!!! Top one your version, bottom TDI.
Mine is a bit different with regards to bollinger. I have it very dark to be able to clearly see other lines. I also comeneted last possible entries and differences to TDI.

BR
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd - custom tdi.jpg Size: 210 KB
6 traders viewing now