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Another simple system - Time-Frame 15

  • #15,001
  • Nov 20, 2012 6:12pm Nov 20, 2012 6:12pm
Quoting Ramjet
Morning Emmanuel..

Is this what your pointing out.. the break of the IB and re-touch of 50ema??

Cheers,
Adrian

Moin moin Adrian,

The breakouts are usually very strong and we must learn to watch and catch them early.
Beside the 200EMA on H1,
the 2 other top resistance is the Prev W (46) Low and prev D (19 Nov) fibo-r 50%... such strong CONFLUENCE is very obvious and will give a higher probablility trade setup.

Today will be the trading day for this week ...watch out for EU.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #15,002
  • Nov 20, 2012 6:24pm Nov 20, 2012 6:24pm
Quoting xremmy
Ramjet and Forexnerds, thanks for the vouches. Much appreciated.

Had to format every other thing and load only Master Arjun's Operating system. With all the setups and teaching been showed by all the masters, Guess I'm still at the login page. Cant wait to get to the start page.
Yes I got it,
thanks you , now I spare 4hr per day to reading and backtest. hope six months I have some feel like you and other experts in this thread.
Once again thank you so much.
  • #15,003
  • Nov 20, 2012 6:41pm Nov 20, 2012 6:41pm
Quoting emmanuel7788
Moin moin Adrian,

The breakouts are usually very strong and we must learn to watch and catch them early.
Beside the 200EMA on H1,
the 2 other top resistance is the Prev W (46) Low and prev D (19 Nov) fibo-r 50%... such strong CONFLUENCE is very obvious and will give a higher probablility trade setup.

Today will be the trading day for this week ...watch out for EU.

regards,
Thanks for explaining Emmanuel

ummmmm...if you can bear with me as I'm not to quick at picking up your teachings as I'm sure you've noticed
But could you please see if I understood what you said with this chart example...if I'm wrong again could you please put together a chart..
The fib?

Sorry for this..

Cheers,
Adrian
Attached Image(s) (click to enlarge)
Click to Enlarge Name: U-C.png Size: 12 KB
Click to Enlarge Name: U-C2.png Size: 11 KB
  • #15,004
  • Nov 20, 2012 6:57pm Nov 20, 2012 6:57pm
Quoting Ramjet
Thanks for explaining Emmanuel

ummmmm...if you can bear with me as I'm not to quick at picking up your teachings as I'm sure you've noticed
But could you please see if I understood what you said with this chart example...if I'm wrong again could you please put together a chart..
The fib?

Sorry for this..

Cheers,
Adrian
here is the chart showing the Prev W low and Monday fibo-r ....
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD 20 Nov expln.png Size: 44 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #15,005
  • Nov 20, 2012 7:07pm Nov 20, 2012 7:07pm
Quoting emmanuel7788
here is the chart showing the Prev W low and Monday fibo-r ....
Cool thanx I get it now

Another question please..sorry..
I see how you've taken the 50% retrace on the bar 2 days ago..why would you being taking that bar retrace instead of yesterdays..Is it because it was a large bearish bar and they usually retrace before continuation or is it that yesterdays bar didn't retrace much further than the 50% area of that bar so you realized that was a strong area to break??

Cheers
  • #15,006
  • Nov 20, 2012 7:22pm Nov 20, 2012 7:22pm
Quoting Ramjet
Cool thanx I get it now

Another question please..sorry..
I see how you've taken the 50% retrace on the bar 2 days ago..why would you being taking that bar retrace instead of yesterdays..Is it because it was a large bearish bar and they usually retrace before continuation or is it that yesterdays bar didn't retrace much further than the 50% area of that bar so you realized that was a strong area to break??

Cheers

sorry mate.. don't understand fully your qusetion now.

But I always take my trade entry of a fib-r of 38% and 50% of H4, D, etc. these I mentioned in many of my posts.... and all Price Action CS patterns and must be supported with a CONFLUENCE of some kind ... 10EMA of all TFs, RN, BRN, Fibo levels plus the natural Support and Resistance (OHLC).
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #15,007
  • Nov 20, 2012 7:32pm Nov 20, 2012 7:32pm
Hi everyone
I just want to say I will be taking much needed retrospective time out from this thread and trading in general to further study the markets.Got my hands full.I don't feel efficient and fulfilled trading wise.I lack substantial knowledge and inner workings of markets.
In Elliot terms I got 1 and 2 waves down but need to push to that 3rd level.
I feel like a monk that needs solitude to figure it out.When I will be back I will be stronger trader.Thank you all for your help and generosity.
http://sahakianart.com/workspaper/photo8.jpg
from my works.This is what I need now. sahakianart.com
In trading, you have to be defensive and aggressive at the same time
  • #15,008
  • Nov 20, 2012 7:33pm Nov 20, 2012 7:33pm
Quoting emmanuel7788
sorry mate.. don't understand fully your qusetion now.

But I always take my trade entry of a fib-r of 38% and 50% of H4, D, etc. these I mentioned in many of my posts.... and all Price Action CS patterns and must be supported with a CONFLUENCE of some kind ... 10EMA of all TFs, RN, BRN, Fibo levels plus the natural Support and Resistance (OHLC).
Gulp!..sorry I see where I went wrong now..thanks for your help and explaination...appreciated!
  • #15,009
  • Nov 20, 2012 7:52pm Nov 20, 2012 7:52pm
USDCAD review:

While we are having some discussion on USDCAD, here is an example how a POP GUN ended the downtrend of Loonie.
Notice how many days it took before the reversal.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD D Pop Gun .png Size: 45 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #15,010
  • Nov 20, 2012 7:58pm Nov 20, 2012 7:58pm
Quoting Davit
Hi everyone
I just want to say I will be taking much needed retrospective time out from this thread and trading in general to further study the markets.Got my hands full.I don't feel efficient and fulfilled trading wise.I lack substantial knowledge and inner workings of markets.
In Elliot terms I got 1 and 2 waves down but need to push to that 3rd level.
I feel like a monk that needs solitude to figure it out.When I will be back I will be stronger trader.Thank you all for your help and generosity.
http://sahakianart.com/workspaper/photo8.jpg
from...
Hi Davit,

Look forward to see you back soon.
Taking a break is good thing to do. I did this few times in the past years and came back stronger.

Great painting you shared here. Reminds me of Auguste Rodin .. 'Thinker"

Your gallery is amazing.

Hope one day I can commission you to do something for me.

Best regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #15,011
  • Nov 20, 2012 8:01pm Nov 20, 2012 8:01pm
Quoting Ramjet
Gulp!..sorry I see where I went wrong now..thanks for your help and explaination...appreciated!
Don't worry Ramjet. Just be patient with yourself. You will get it better in time. Moreover in my opinion, you really don't NEED to 'get' everything to meet your trading targets! Just FIGURE OUT WHAT WORKS FOR YOU AND STICK WITH IT! We are mostly naturally restless creatures and always seem to NEED to know more, and sometimes we simply become overwhelmed trying to overcomplicate matters. I got a secret for you!(...lean closer now...shhhhh....guess what SIMPLE WORKS JUST FINE! LOL!). Some of the really good and experienced traders here have figured out how to make 'complex' work for them well, and they assimilate the multiple flow of data well enough! Others (like me) are just too dumb to make anything but the simplest things work. Though I'm beginning to try some more complicated analysis as I sometimes admire the way some senior traders are doing it, but really I keep coming back to the same realisation that SIMPLE ALSO WORKS JUST FINE! And that is what Arjun and Assange keep on hammering about I think. Hope I'm not ranting.....lol.
  • #15,012
  • Nov 20, 2012 8:29pm Nov 20, 2012 8:29pm
Quoting jordfx
Don't worry Ramjet. Just be patient with yourself. You will get it better in time. Moreover in my opinion, you really don't NEED to 'get' everything to meet your trading targets! Just FIGURE OUT WHAT WORKS FOR YOU AND STICK WITH IT! We are mostly naturally restless creatures and always seem to NEED to know more, and sometimes we simply become overwhelmed trying to overcomplicate matters. I got a secret for you!(...lean closer now...shhhhh....guess what SIMPLE WORKS JUST FINE! LOL!). Some of the really good and experienced traders here have figured...

Yes, I fully agree with jordfx.
All that is required to make that 10~20pips is all written on post#1.
For those who still do not understand this method and still find it hard to see the trigger on your chart, you must read post#1 over and over again, and internalise that and when you see your M15 chart, those triggers are much easier to see. It is all about practice practice practice.

If you want to make more pips with swing trading, there is a lot more work you need to do.

Hope many of you caught that EU breakout ... as I mentioned yesterday, price consolidation and must wait.

Trade Well!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #15,013
  • Nov 20, 2012 8:36pm Nov 20, 2012 8:36pm
Quoting emmanuel7788
Yes, I fully agree with jordfx.
All that is required to make that 10~20pips is all written on post#1.
For those who still do not understand this method and still find it hard to see the trigger on your chart, you must read post#1 over and over again, and internalise that and when you see your M15 chart, those triggers are much easier to see. It is all about practice practice practice.

If you want to make more pips with swing trading, there is a lot more work you need to do.

Hope many of you caught that EU breakout ... as I mentioned yesterday,...
Yes Boss!
  • #15,014
  • Nov 20, 2012 8:56pm Nov 20, 2012 8:56pm
Quoting jordfx
Don't worry Ramjet. Just be patient with yourself. You will get it better in time. Moreover in my opinion, you really don't NEED to 'get' everything to meet your trading targets! Just FIGURE OUT WHAT WORKS FOR YOU AND STICK WITH IT! We are mostly naturally restless creatures and always seem to NEED to know more, and sometimes we simply become overwhelmed trying to overcomplicate matters. I got a secret for you!(...lean closer now...shhhhh....guess what SIMPLE WORKS JUST FINE! LOL!). Some of the really good and experienced traders here have figured...
Thanks for your input Jordfx ..

lol, yes simple I like!..I always try to keep things simple.....just think at times I'm missing something as I read through posts from Emmanuel and other Seniors and at times take forever to get it which makes me feel more frustrated and stupid
  • #15,015
  • Nov 20, 2012 9:13pm Nov 20, 2012 9:13pm
Just got back to the charts and saw the fast drop on EURJPY. Price was bouncing off the M15-200EMA.

Zoomed in to the M5 tf to better see the price action for a quick bounce trade.
Waited for the M5 candle to close. It closed as a pin. So I jumped in.
Initial TP was set for 30 pips (just below M5-200EMA). SL was 9 pips. So theoretical R:R as ok.

Closed position due to downward pressure being apparent across many pairs.
Result +10 pips.

I was tempted to enter earlier when price retraced up to the M15-200EMA. However I have been burnt too many times by expecting something to occur. Instead waiting for the bar to close gives a safer entry.
Attached Images
  • #15,016
  • Nov 20, 2012 9:35pm Nov 20, 2012 9:35pm
Quoting leztuh
hi fxrobin,

nothing wrong with your trading, your entry was little late and e/u ranging.(not good to trade) tp at yh/HTF resistance.

greetings


if you are interested in arjuns "method", i encourage you to read further.
please have in mind that iam a newbie with less experience and also in reading mode....

( i like your username)
Hi Leztuh,

Thanks for feedback.

I am trying to read more but the thread goes at warp speed. I spend some rereading the first 100 pages but now I shall move on to catch up with the rest. Maybe I should work on my decesion making and when to enter and exit.

I could have closed the trade for some more than 10 pips many times but I left it running till this morning when I found my big Stop loss has been hit.

The good thing is the caring in this thread. Thanks again. Even your newbie feedback is much helpful.
cheers
  • #15,017
  • Nov 20, 2012 10:07pm Nov 20, 2012 10:07pm
Quoting cmeldatrader
http://www.youtube.com/watch?v=ztxuzcVhJGk
looking forward to try it!

thanks
  • #15,018
  • Nov 20, 2012 10:28pm Nov 20, 2012 10:28pm
Quoting cmeldatrader
download this indicator - put to the indicators folder - close mt4 - open mt4 - open strategy tester - choose strategy (i.e. LHF Trading) - select timeframe M15 eu - push start buton - then stop this start buton and drag this indicator onto backtesting visual mode M15 chart and select extern in indicator windows i.e. period multiplier set to 4 (4x15 = 60 min) - then open offline chart eu (find eu_H1) and open this chart - now you have got two charts one M15 and one offline H1 and finally push buton start and then stop - key F12 - make pips
i...
Fantastic time converter and it works .

Cheers

PH
  • #15,019
  • Nov 20, 2012 10:29pm Nov 20, 2012 10:29pm
Quoting nomadic
Just got back to the charts and saw the fast drop on EURJPY. Price was bouncing off the M15-200EMA.

Zoomed in to the M5 tf to better see the price action for a quick bounce trade.
Waited for the M5 candle to close. It closed as a pin. So I jumped in.
Initial TP was set for 30 pips (just below M5-200EMA). SL was 9 pips. So theoretical R:R as ok.

Closed position due to downward pressure being apparent across many pairs.
Result +10 pips.

I was tempted to enter earlier when price retraced up to the M15-200EMA. However I have been burnt too...

Bro, in my opinion I really don't see any LOGIC, or trading signal in your setup. for one your stoploss couldn't have been less than 21pips( below the pinbar). And the bar had not even closed yet for a reward of 10pips? I don't get it. Could you teach me so I can learn more? Thanks sir.
  • #15,020
  • Nov 20, 2012 10:31pm Nov 20, 2012 10:31pm
Quoting nomadic
Just got back to the charts and saw the fast drop on EURJPY. Price was bouncing off the M15-200EMA.

Zoomed in to the M5 tf to better see the price action for a quick bounce trade.
Waited for the M5 candle to close. It closed as a pin. So I jumped in.
Initial TP was set for 30 pips (just below M5-200EMA). SL was 9 pips. So theoretical R:R as ok.

Closed position due to downward pressure being apparent across many pairs.
Result +10 pips.

I was tempted to enter earlier when price retraced up to the M15-200EMA. However I have been burnt too...

Moreover...out of respect for the mentor of this great thread, we are have been asked to desist from posting 5min Charts? Pls take note eh? Much love bro.
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