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Another simple system - Time-Frame 15

  • #15,701
  • Nov 26, 2012 9:26am Nov 26, 2012 9:26am
Quoting emmanuel7788
what I see:

H4 10EMA catching up with price
H4 Inside Bar and when next H4 close ...it can be Double Inside Bar
H4 TDI cross down
Friday Close still above.

achtung! .... beware of fakey BO


Guys, LISTEN to this BROTHER!!!!

Regs,

Roman
  • #15,702
  • Nov 26, 2012 9:31am Nov 26, 2012 9:31am
Quoting orko_555
Hello guys here is the eu chart

What can you tell me about it.... what can you see???

Regards,

Roman
Hi Roman
It's at strong s/r level and far enough from 200ema on 15M to try CT. So we could short bounce from D1 resistance
sorry if I'm wrong, just guessing
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  • #15,703
  • Nov 26, 2012 9:41am Nov 26, 2012 9:41am
USDJPY

COPY TRADE ....i mean counter trade....lol

This is my Scalping CT ( Counter Trade and also Copy Trade )

I look at this notes and Illustration........then I copy the trade.... That's all ( I'm too dumb to think)

SL 10 pips, TP @ BRN.



giBriL
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  • #15,704
  • Nov 26, 2012 10:02am Nov 26, 2012 10:02am
Quoting orko_555
Hello guys here is the eu chart

What can you tell me about it.... what can you see???

Regards,

Roman
Hi buddy,

range markets are not my favourite ones.. I can see another popgun pattern here (H4 shadow candles on your chart).
Im done for the day.


Ciara
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Ideas shape the course of history
  • #15,705
  • Nov 26, 2012 10:05am Nov 26, 2012 10:05am
hello people,

bad day for me, i am down a total of -17 for today , that's 3 losers on AU,EA,AJ
i'm calling it a day.

my question: how do u handle losing days ? when do you stop? are you trying to get pips back?

trying to get ideas..

peace and love
steph
  • #15,706
  • Nov 26, 2012 10:12am Nov 26, 2012 10:12am
Quoting Ciara
Hi buddy,

range markets are not my favourite ones.. I can see another popgun pattern here (H4 shadow candles on your chart).
Im done for the day.


Ciara
With the largely sideways junk today just 1 trade for us, +16 pips. The 20 Pips bank Hall of Fame emailed Mrs V asking if we want to renew her membership. She politely declined, bigger TP's will return as soon as normal service resumes.

Genuine HL near the bottom of range, engulfing close through 10ema, little/no upper wick on set up candle. Happy to exit when pa reached 106.70 area and showed signs of failing as it had done twice already this morning.
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  • #15,707
  • Nov 26, 2012 10:23am Nov 26, 2012 10:23am
Quoting 99problems
hello people,

bad day for me, i am down a total of -17 for today , that's 3 losers on AU,EA,AJ
i'm calling it a day.

my question: how do u handle losing days ? when do you stop? are you trying to get pips back?

trying to get ideas..

peace and love
steph
Hi Steph
Post charts and let people give constructive crit. In general getting in as close as possible to the turn is sound advice in trending but especially narrow range days (first retrace is best trade).
  • #15,708
  • Nov 26, 2012 10:32am Nov 26, 2012 10:32am
Quoting Gibril
Hi everyone...Greeting and wishing yo having FUN time in here.

I received many PM asking me WHAT is the first thing to look at the Chart ?

For benefit of many, I would say........." CLEAN READABLE CHART "

Attached is what I use in all my charts. I may draw trend lines, SR lines on HTF. Other than that...it is there for you to see.

I believe in having clean chart to look at, will assist you in seeing opportunity clearly.

Also use nice back ground colour to reduce strain in your eyes.

Just by using this...
guys, this is the best chart I've seen lately, it shows everything there is
trend trades, ct trades,
Clean , keep it simple chart
really nice Gibril,
If you're going through hell, keep going. Winston Churchill
  • #15,709
  • Nov 26, 2012 12:02pm Nov 26, 2012 12:02pm
Thnx everyone for wishing me my bday.. i m back home and will start trading tomorrow hopefully.
  • #15,710
  • Nov 26, 2012 12:29pm Nov 26, 2012 12:29pm
Quoting 99problems
hello people,

bad day for me, i am down a total of -17 for today , that's 3 losers on AU,EA,AJ
i'm calling it a day.

my question: how do u handle losing days ? when do you stop? are you trying to get pips back?

trying to get ideas..

peace and love
steph

Hi mate,

Its normal to have losing trades, losing days - part of the business. Nothing to worry about.

17 pips, but what % of the account is that - is that whats annoying? Pips alone does not paint a true picture of the drawdown.
  • #15,711
  • Nov 26, 2012 12:55pm Nov 26, 2012 12:55pm
Just something that came to mind from 99problems’ post above and few questions i have had on pm -

The loss of X pips – does not define the actual loss. A trader really needs to define what % loss of the account that is.

Pips alone does not paint a true picture.

Just taking a single trade example - if trading with a fixed % risk per trade - then your lot size would vary according to the stop being used. So a loss of -10 pips on a single trade with initial sl 15 is way diff to -10 pips with sl 20.

I display my gain in terms of pips as my initial SL is the same. Going in at market i like to have an auto stop straight away. I can tweak if needed after.

During my testing period my stop varied from 12 pips to 18 pips. Anything above 15 was typically gbp/jpy. Im not going to waste time adjusting trading lots for stops varying from 12 pips to 15pips. So my initial stop is 80% of the time 15 pips hence lot size always the same for the fixed % risk per trade.

I display pips as for me on my analysis gives a true reflection on risk and trade size. Yes slight variance in the stops between 12-15 pips, however my SL is only a safety factor. (The yen trades I display have pips adjusted to a typical dollar denominated pair). I’m fine with an initial set SL as I never just allow the trade to hit SL if its not going in favour. I believe managing a trade when its going against is just as crucial. I have no problem in cutting trades for a few pips loss. (Though not happen much at all when sticking with just the basics!)

I see some traders taking trades with SL 5, 7, 9 etc – Trade size must be different to allow for the same risk per trade on account. Obviously a trade gaining 15 pips with sl 5 is great!

Also remember currency pairs have different pip value. Dollar denominated vs yen cross vs various other crosses – have varying pip value. From the general pairs traded in the thread the only pairs to keep an eye on would be the yen crosses. (I’m sure all are aware, dollar denominated, full lot – 1 pip = $10. Yen crosses – 1 pip = $12.1 - $12.5)

Sorry for going into detail – but just take care on ‘risk per trade + pair traded + SL’
  • #15,712
  • Nov 26, 2012 2:58pm Nov 26, 2012 2:58pm
GBPUSD Week 48:

This maybe your next 90pips
Remember we see all the details in M15 charts.
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #15,713
  • Nov 26, 2012 3:15pm Nov 26, 2012 3:15pm
GJ..dreams...
Daily shows weakness, TL cracked..

Lets see..

Ciara
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Ideas shape the course of history
  • #15,714
  • Nov 26, 2012 3:18pm Nov 26, 2012 3:18pm
Quoting 99problems
hello people,

bad day for me, i am down a total of -17 for today , that's 3 losers on AU,EA,AJ
i'm calling it a day.

my question: how do u handle losing days ? when do you stop? are you trying to get pips back?

trying to get ideas..

peace and love
steph
Hi Steph

Everyone has losing days it is inevitable that its going to happen at some point. The market was ranging on most currencies today so it was a lot more difficult to see set ups in my opinion. At 3 straight losses it might have been an idea just to cut the losses short and leave the trading until the next day rather than trying to make pips back, if not then that is putting more pressure on you psychologically and you feel that you have to make pips back for the day.puting you under stress and seeing the maret in a negative way which could cloud your judgement.

Just got to keep your head up you are a very good trader and im sure you will make the pips back up in no time

zander
  • #15,715
  • Nov 26, 2012 3:25pm Nov 26, 2012 3:25pm
Quoting emmanuel7788
GBPUSD Week 48:

This maybe your next 90pips
Remember we see all the details in M15 charts.
Hi, bro,

90pips up or down? There are a few camels to the left.
Both scenarios possible.. lines are here to be broken..or to be bounced off.. both ways very low RRR..15 pips SL and 90+ gain..All eyes..

Ciara
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Ideas shape the course of history
  • #15,716
  • Nov 26, 2012 3:50pm Nov 26, 2012 3:50pm
Quoting aryary
Hi mate,

Its normal to have losing trades, losing days - part of the business. Nothing to worry about.

17 pips, but what % of the account is that - is that whats annoying? Pips alone does not paint a true picture of the drawdown.

Hi bro, thanks for you concern.
I'm down about 2.5% from these 3 trades. I guess what annoyed me is that I never had 3 losing trades in a row so far.
What do you do when you lose 3 trades in a row? Psychologically speaking, would you consider trading more the same day?
Thanks



Quoting zander2034
Hi Steph

Everyone has losing days it is inevitable that its going to happen at some point. The market was ranging on most currencies today so it was a lot more difficult to see set ups in my opinion. At 3 straight losses it might have been an idea just to cut the losses short and leave the trading until the next day rather than trying to make pips back, if not then that is putting more pressure on you psychologically and you feel that you have to make pips back for the day.puting you under stress and seeing the maret in a negative way which could...

hi zander,

thanks for your concern. I did indeed step back and did not trade anymore. After my first two losers (at the beginning of the day) I should've just accepted that it's ranging and should have waited for a breakout and trending conditions. Instead I took a (valid) signal in a ranging market (that i have identified). I need to work on this. I have itchy fingers at times. I'm wondering if other lovebees have the same?

Thanks for your time and concern.

Peace and love
Steph
  • #15,717
  • Nov 26, 2012 4:45pm Nov 26, 2012 4:45pm
Hi everyone

Patience pays off. very long and excrutiating wait but I waited till midnight as I believed price will reach the round number.
Altough a late entry, closed manually for 30 pips.
Enough for my first right grasp of the method after 2 months.
Thanks LE1, Gibril, PAT, x-man, and emannuelesp for his support.
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  • #15,718
  • Nov 26, 2012 5:00pm Nov 26, 2012 5:00pm
Well done FxRobinhood.

Patience is hard. Nice trade away from 200ema and later a trendline break. Target, one of my favourites now, being BRN.

Just keep repeating same setups. I am not a senior trader, just a 'lovebee' too that appreciates when someone does a good trade. Hope to see many more from you, to learn from. Keep posting.

Love
Renata
  • #15,719
  • Nov 26, 2012 5:02pm Nov 26, 2012 5:02pm
Quoting 99problems
Hi bro, thanks for you concern.
I'm down about 2.5% from these 3 trades. I guess what annoyed me is that I never had 3 losing trades in a row so far.
What do you do when you lose 3 trades in a row? Psychologically speaking, would you consider trading more the same day?
Thanks

Peace and love
Steph

Hey,

Sorry to hear about your losing days...
I have learned a lot from you with all your post in this thread, thank you !

I'm still reading the thread, I'm trying to catch up with you guys but it's a long way...

Can you post your charts for learning purpose ?

Again, thank you, and thanks to all the great teachers in this thread, it's really amazing…

(Sorry for my bad english, i'm french)
  • #15,720
  • Nov 26, 2012 5:15pm Nov 26, 2012 5:15pm
Quoting fxrobinhhood
Hi everyone

Patience pays off. very long and excrutiating wait but I waited till midnight as I believed price will reach the round number.
Altough a late entry, closed manually for 30 pips.
Enough for my first right grasp of the method after 2 months.
Thanks LE1, Gibril, PAT, x-man, and emannuelesp for his support.
Nice trading away from 200ema.

What was ur initial stop loss? if i may ask
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
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