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Another simple system - Time-Frame 15

  • #15,321
  • Nov 22, 2012 2:52pm Nov 22, 2012 2:52pm
Quoting emmanuel7788
More and more I read members posts struggling with theri trading. I think we all should look at some perspective of successful trading.

Perspectives for Successful Trading:

[font=Verdana][size=2][color=#003333][color=#003333][font=Verdana]It's...
Waow !
Thank you Emmanuel for this enlightening viewpoint of the mindset to target. This psychology part is likely the most difficult part on the long way to become a successful trader. How to make this mindset a second nature is the issue each newbie like me has to tackle... Do you think it can be acquire or it is inherent to the character of some people only? Any advice about how to get to that level of psychology?

Kyurem
  • #15,322
  • Nov 22, 2012 4:43pm Nov 22, 2012 4:43pm
Hi Everyone,

Ive been lurking here for a few weeks now and have found this Forum really great with everyone helping out the way they do.
THANK YOU ARJUN !!! YOU ARE AWESOME FOR STARTING THIS THREAD !!!!

I like GIBRILS method of starting with the H4 working down to M15, and trading away from the 10 and 200 ema's.

Ive been reluctant to post as I don't want to ask questions which may have been answered before or in anyway slow
down the good momentum/feeling on the thread...Ive read and re read the first few hundered pages which has helped me break free of old habits, and Im starting to "see" the charts differently, but its early days yet....
I had some demo trades last night that all hit TP and I wanted to share those with the good people here on the thread.
I know I probably entered late, exited early, and don't have all the indis in place yet, but Ive kept it simple and the trades all worked out, comments welcome.

I will post more charts winners and losers, as I know that sharing will help my learning.

Thanks for listening...

W99
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  • #15,323
  • Nov 22, 2012 4:48pm Nov 22, 2012 4:48pm
Quoting wizard99
Hi Everyone,

Ive been lurking here for a few weeks now and have found this Forum really great with everyone helping out the way they do.
THANK YOU ARJUN !!! YOU ARE AWESOME FOR STARTING THIS THREAD !!!!

I like GIBRILS method of starting with the H4 working down to M15, and trading away from the 10 and 200 ema's.

Ive been reluctant to post as I don't want to ask questions which may have been answered before or in anyway slow
down the good momentum/feeling on the thread...Ive read and re read the first few hundered pages which has helped...
Hi Wizarad99,

Thanks for sharing you charts. I am new person here and trying to understand this system and concepts. One day i also wants to be successful trader like you.

You mentioned that we should be trading away from the 10 and 200 ema's.""" Please can you write in details meaning of AWAY from 10 and 200 EMAs. It will be a great help to clear confusion in mind,
  • #15,324
  • Nov 22, 2012 6:01pm Nov 22, 2012 6:01pm
Hi MKFX,

Thanks for your reply.
Let me first state here I am in no way a successful trader (yet.) LOL.
The complete description for your question "trading away from the MA's" starts on post 1.
Guys like Arjun, X man, GIBRIL, emmanuel7788 and others are far more qualified to answer that question for you.
Sorry, I cant answer your question yet, but I know your in good hands here.

Hope that helps.

Good luck !!

W99
  • #15,325
  • Nov 22, 2012 6:14pm Nov 22, 2012 6:14pm
My interpretation (Thurs 23 Nov session):

pairs – trading only AUDUSD and EURUSD
trade times – 400 to 1300 GMT (don’t want to work too hard )
filters – red news; S/R blocking

2 set-ups during designated time period met my criteria on AUDUSD, none on EURUSD

short – price closed under 10 and 200 ema, TDI down, HA down
enter at 10ema, SL above 5M pivot, TP 1:1 (+2%)

buy – price closed above 10 and 200 ema, TDI up, HA up
enter at 200ema (closest), SL below 5M pivot, TP 1:1 (+2%)

*note, I don’t think pips, I think % return

...........now, repeat x10,000, until then excitment not required
.
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  • #15,326
  • Nov 22, 2012 6:21pm Nov 22, 2012 6:21pm
Santorini - why do my pipware charts change like this after a few simple alterations?

http://i48.tinypic.com/f1cnq.jpg
  • #15,327
  • Nov 22, 2012 7:14pm Nov 22, 2012 7:14pm
Quoting mkfx
Hi Wizarad99,

Thanks for sharing you charts. I am new person here and trying to understand this system and concepts. One day i also wants to be successful trader like you.

You mentioned that we should be trading away from the 10 and 200 ema's.""" Please can you write in details meaning of AWAY from 10 and 200 EMAs. It will be a great help to clear confusion in mind,
Hi ya Mkfx..

This chart should help I hope..

In the beginning we want to be trading away from the 200ema and 10ema..meaning both of them are at our backs..
The reason in the beginning is that it is the simplest also it gives a very high return on trades....as you become more experienced in here you will see there are so many different ways to earn with this method...but for now stick with the basics until you understand this and then you can think about doing something more technical..
Saying that a lot of people are actually happy just staying on the basics of trading away from the 10ema and 200ema ride as it gives them a great return on investment that they are very happy with..

Cheers,
Adrian
Attached Image (click to enlarge)
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  • #15,328
  • Edited 8:57pm Nov 22, 2012 7:22pm | Edited 8:57pm
Hello friends,
I just got a nice +20 pips on G/J long.

H4 candles were closed above 10ema,
check out the red horizontal line on h1 chart Iam posting.
see m15 chart for entry,
I went down to m1 for confirmation , but Iam not posting it .

Everything about this entry is here in this thread, what I have learned from Arjun,
bounce trades, 10ema, ct trades , adr, I see them everyday.
God bless him always.
thank you
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If you're going through hell, keep going. Winston Churchill
  • #15,329
  • Edited 9:03pm Nov 22, 2012 7:34pm | Edited 9:03pm
Quoting Imi
Hello friends,
I just got a nice +20 pips on G/J.

H4 candles were closed above 10ema,
check out the red horizontal line on h1 chart Iam posting.
see m15 chart for entry,
I went down to m1 for confirmation , but Iam not posting it .

Everything about this entry is here in this thread, what I have learned from Arjun,
bounce trades, 10ema, ct trades , adr, I see them everyday.
God bless him always.
thank you
Hi ya Imi..

Thanks so much for all your charts

This brings up 2 points..
1. A few posts back from Aryary saying "Take note of this one - the bars resting on the ema - happens often on all time frames...mentioned many times in the thread by arjun and x-man - when the bounce is not strong you can expect a break."
http://www.forexfactory.com/showthre...49#post6222549
and
2. These patterns happen all the time on all TF's as your last posted chart has a similar CT set up on a different TF..
http://www.forexfactory.com/showthre...20#post6222120

Thanks for all your help Imi ..

Cheers,
Adrian
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  • #15,330
  • Nov 22, 2012 7:38pm Nov 22, 2012 7:38pm
Quoting Ramjet
Hi ya Mkfx..

This chart should help I hope..

In the beginning we want to be trading away from the 200ema and 10ema..meaning both of them are at our backs..
The reason in the beginning is that it is the simplest also it gives a very high return on trades....as you become more experienced in here you will see there are so many different ways to earn with this method...but for now stick with the basics until you understand this and then you can think about doing something more technical..
Saying that a lot of people are actually happy just...
Thanks Ramjet for explaining this.
  • #15,331
  • Nov 22, 2012 8:11pm Nov 22, 2012 8:11pm
Quoting BorisViven
a quick newbie CT on gbpusd
TP @ 200 ema
+15 pips

I don't want to confuse anyone with this trade because i'm a newbie and the CT are not recommended for us by our master Arjun
but i was confident with this one because :
- price has bounced on 10 ema on weekly
- price has bounced on 50 ema + 800 ema (and formed a special pattern master Arjun highlighed in the past - on daily attached picture - anyone know the name ?)
- price has formed new LH on m15 + h1

If anyone can comment, it will be appreciated. Was it too risky ?
and sorry again if my newbie...
Hi DOM,

Good trade.
I did the same but with some different view to support my SELL.

I did have some problem to manage this one because being a CT trade and the 200EMA and 800EMA on M15 which usually see bounces which can stop the trade. Anyway, manage to pull through this.



http://www.forexfactory.com/attachme...1&d=1353593567
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: GU 22 Nov M15 details 23-11-2012 10-00-34 AM.png Size: 46 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #15,332
  • Nov 22, 2012 8:24pm Nov 22, 2012 8:24pm
Quoting wizard99
Hi Everyone,

Ive been lurking here for a few weeks now and have found this Forum really great with everyone helping out the way they do.
THANK YOU ARJUN !!! YOU ARE AWESOME FOR STARTING THIS THREAD !!!!

I like GIBRILS method of starting with the H4 working down to M15, and trading away from the 10 and 200 ema's.

Ive been reluctant to post as I don't want to ask questions which may have been answered before or in anyway slow
down the good momentum/feeling on the thread...Ive read and re read the first few hundered pages which has helped me...

Good trades w99,

a good example of how successful traders start with clean and clutter-free charts.
I like your chart very much.

One piece of small advice - don't even think of using the ADR. Let Price Action (PA) show you when and where for entry, and the same for your exits. Let Higher Timeframe (HTF) show you the direction.
10% is Method ...all the technical stuff
30% is Management ... money management, trade management, risk mamagement, etc.
60% is Mental Fitness ... how you manage the trader inside you.

You are on track , keep your focus.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #15,333
  • Nov 22, 2012 8:29pm Nov 22, 2012 8:29pm
Quoting PeterE
My interpretation (Thurs 23 Nov session):



*note, I don’t think pips, I think % return

...........now, repeat x10,000, until then excitment not required
.
Hi PeterE,

I like those AU trades you took. Clear and simple as all trades should be.

I also don't think pips, % return and in my case the R's matters more than the number of pips.

It is the Expectancy game we all play.

Good to see you in this LE1 family thread.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #15,334
  • Nov 22, 2012 8:41pm Nov 22, 2012 8:41pm
Quoting emmanuel7788
Good trades w99,

a good example of how successful traders start with clean and clutter-free charts.
I like your chart very much.

One piece of small advice - don't even think of using the ADR. Let Price Action (PA) show you when and where for entry, and the same for your exits. Let Higher Timeframe (HTF) show you the direction.
10% is Method ...all the technical stuff
30% is Management ... money management, trade management, risk mamagement, etc.
60% is Mental Fitness ... how you manage the trader inside you.

You are on track ,...
Unfortunately, less emphasis is on Mental fitness and Money Management, while most people devote attention and efforts on Methods.
  • #15,335
  • Nov 22, 2012 8:46pm Nov 22, 2012 8:46pm
Quoting kyurem
Waow !
Thank you Emmanuel for this enlightening viewpoint of the mindset to target. This psychology part is likely the most difficult part on the long way to become a successful trader. How to make this mindset a second nature is the issue each newbie like me has to tackle... Do you think it can be acquire or it is inherent to the character of some people only? Any advice about how to get to that level of psychology?

Kyurem

Hi Kyurem,

First, there is no such thing as Trading Psychology and many authors have written books using this as Title.
Trading and Psychology are two separate words. Each word has its own meaning. If we treat each word independently and learn what each is, we get to undertand the Psych part better.

Psychology is the largest part of the equation in becoming a successful trader and is the most difficult part to master.
I am not trained in psychology but I have the good furtune to know a few professionals and they helped and mentor me in my trading joruney. One psychologist whom I know is a trader himself.

To answer your questions :
To start with, there must be AWARENESS and this is where it should start.
We all have a beast inside us. We must confront this beast and know how to tame it. It is a hard thing to do. Often our EGO is in the way.
Until we have our beast tamed, we will never be able to confront the other BEAST i.e. the market.
This other BEAST is very cruel and it will inflict a lot of damage to your life as a trader. It will eat up all your hard earned money faster and more easily than you think. When you have not tamed that beast inside you, you will see the win-loss results right before your very eyes.

Now, start talking to the beast inside you.
Do this everyday and start of day routine.

Hope this helps.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #15,336
  • Nov 22, 2012 8:51pm Nov 22, 2012 8:51pm
Quoting Ramjet
Hi ya Imi..

Thanks so much for all your charts

This brings up 2 points..
1. A few posts back from Aryary saying "Take note of this one - the bars resting on the ema - happens often on all time frames...mentioned many times in the thread by arjun and x-man - when the bounce is not strong you can expect a break."
http://www.forexfactory.com/showthre...49#post6222549
and
2. These patterns happen all the time on all TF's as your last posted chart has a similar CT set up on a different TF..
http://www.forexfactory.com/showthre...20#post6222120...


Re: G/J long trade
thx Ramjet, take note of the 200ema on m15 chart, it was a bounce trade off that in confluence with the support level on H1.
If you're going through hell, keep going. Winston Churchill
  • #15,337
  • Nov 22, 2012 8:53pm Nov 22, 2012 8:53pm
Quoting Trendylines
Unfortunately, less emphasis is on Mental fitness and Money Management, while most people devote attention and efforts on Methods.

You are absolutely correct. Why?

1. one reason is most forex schools and coaches find it easier to teach methods than the other two parts. When you failed, they blame it on the other two M's.

2. second reason is psychology itself has a stigma attached to it. Who needs a psychologist? If one goes and consult a psychologist, first thought come to mind is that person has a mental problem.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #15,338
  • Nov 22, 2012 8:58pm Nov 22, 2012 8:58pm
Quoting Imi
Re: G/J long trade
thx Ramjet, take note of the 200ema on m15 chart, it was a bounce trade off that in confluence with the support level on H1.
Yep, seen that one..great trade.. sorry, I was actually pointing out your prior trade you have marked on the 1hr tf ..

lol, I just realised that's the same chart Aryary put up ..
  • #15,339
  • Nov 22, 2012 9:32pm Nov 22, 2012 9:32pm
Quoting emmanuel7788
Train your Eyes:

Here is one chart example for practice:
http://www.forexfactory.com/attachme...7&d=1353551140
Hi Emmanuel,

Sorry for bother you...
I'm trying to understand what you're saying.. but till can not. Could you pls help me to clear this?

Thanks you!
  • #15,340
  • Nov 22, 2012 10:00pm Nov 22, 2012 10:00pm
Quoting Pervis
Hi Emmanuel,

Sorry for bother you...
I'm trying to understand what you're saying.. but till can not. Could you pls help me to clear this?

Thanks you!
Do you know how to read the candlestick - Open, High, Low and Close?

Look closely at those M15 candles which I marked with red arrows.

Do you see that each of the M15 candle has lower high than the previous one?
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: Train your Eyes 2 GU.png Size: 42 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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