Another simple system - Time-Frame 15 | Page 803 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Multi time frame Simple MACD system 824 replies

Time Frame Vs Personality, Which to choose as Main Time Frame? Who Are You? 10 replies

Multiple Time Frame Trading: In a divergence, which frame dictates? 6 replies

Time frame and Enter/Exit, Time frame and S/L, T/P relationships. 91 replies

Question on Lower Time Frame Indicators Vs. Longer Time Frame 7 replies

Attachments: Another simple system - Time-Frame 15
Exit Attachments

Another simple system - Time-Frame 15

  • #16,041
  • Nov 28, 2012 5:24pm Nov 28, 2012 5:24pm
Quoting Renata
Thankyou Zander2034 for this.

I trade Eur Usd and EurJpy. Both have been trading between 200ema and 800ema. Arjun said don't trade when price is between these emas.

It was so frustrating just waiting, while senior members are taking trades all over the place. Ciara ended up with 200 pips and Renata O pips.

I know it is not a competition, so I spent my time trying analyse their trades and why they took them. Gibril said this week is not trending week. Last week was some big...
Hi Renata

that is correct we shouldnt trade when the 200 and 800 emas are closer than 50 pips and even after that we still have to be very cautious the price is all over the place at this point.

making 0 pips is alot better than jumping in and losing 20 or 30 a day which was happenning to me before i looked at patience. it is all psychological, the first time i heard that i thought it was rubbish but my opinion is changing the more i trade. if you have a system that you know works such as arjuns method then you enter a trade knowing that it is a good setup.

the important thing is you said you were waiting which is a vital skill to have. even the seniors will admit to jumping into trades to early at times and paying the price by losing pips

zander
  • #16,042
  • Nov 28, 2012 5:32pm Nov 28, 2012 5:32pm
Thankyou Letzuh and Zander for your replies.

You are right Zander when I got itchy fingers I resisted and pretended to trade by just putting lines on the chart for entry and exit. I was only 50% right so better to stay out and learn. My big lesson is patience and impulsive trades. I can say 90% better at that now.

By just doing basic setup, my success rate is about 85%. So I guess why would I want that to change by trying to keep up with all the CT trades!!!

Thanks again. Learning so much every single day.

Lve
Renata
  • #16,043
  • Nov 28, 2012 5:37pm Nov 28, 2012 5:37pm
This is G/U
also arjun arrow on E/U

abviously to early to tell but hopefully chance for some longs tomorrow.

night all see yous at LO

zander
Attached Image (click to enlarge)
Click to Enlarge Name: 6.gif Size: 54 KB
  • #16,044
  • Nov 28, 2012 5:41pm Nov 28, 2012 5:41pm
The EURJPY is heading to the 106.500 RN after surpassing the ADR High.
With God all things are possible.
  • #16,045
  • Nov 28, 2012 6:41pm Nov 28, 2012 6:41pm
Quoting emmanuel7788
Few thougts:

1. It is not a matter of right or wrong. All I want to see is how price action at 10EMA on M15, H1, H4, D chart timeframe.

2. I look for CONFLUENCE of price levels for example, - Prev D OHLC, Prev W OHLC, Fibo levels of Prev D range, Fibo levels of Prev W range, RN, BRN, 10EMA of all TFs.

3. If you took the trade using the H1 pin-bar as entry, your SL must be above the high of that pin-bar. Look at the most recent Volatility of the H1. At the tiem of your entry the ATR H1 is between 15 to 25 pips. Where is the potential...
Hi Emmanuel,

I am a new learner here and have same opinion to look 10 EMAs as all TF. I also like to see confluence like your chart. Are there indicators for- Prev D OHLC, Prev W OHLC, Fibo levels of Prev D range, Fibo levels of Prev W range., if you are not using indicators than how are you drawing on your chart, please can you help me.

Best Regards
  • #16,046
  • Nov 28, 2012 6:48pm Nov 28, 2012 6:48pm
Quoting emmanuel7788
OCO Script:



Hi,

attached is one OCO script you can try.
Explanation in the mql4 comment.

regards,
Thanks Emmanuel,Helpful as Always.Mike
Failure, is a wonderful teacher!
  • #16,047
  • Nov 28, 2012 7:12pm Nov 28, 2012 7:12pm
Quoting Dehyah
The EURJPY is heading to the 106.500 RN after surpassing the ADR High.
I don't know until that happen.

is there PA to show this?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #16,048
  • Nov 28, 2012 7:14pm Nov 28, 2012 7:14pm
Quoting mkfx
Hi Emmanuel,

I am a new learner here and have same opinion to look 10 EMAs as all TF. I also like to see confluence like your chart. Are there indicators for- Prev D OHLC, Prev W OHLC, Fibo levels of Prev D range, Fibo levels of Prev W range., if you are not using indicators than how are you drawing on your chart, please can you help me.

Best Regards

You can use your platform tools to draw horizonatl lines across using the D and W OHLC prices.
Fibo tool is also availabel in all platforms. Simply add those levels you want and draw on previous D high -low.

Which platform do you trade with?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #16,049
  • Nov 28, 2012 7:29pm Nov 28, 2012 7:29pm
Quoting fxrobinhhood
I have shown my question on the chart. How to identify pullback? (retracement?)

Is it a matter of understanding patterns?

Please help. thanks.

Ps: I donno why I am filled with questions at midnight!!! I hope some help comes from the right time zone.

Attachment
no one can give you that answer. you have to make a decision which tf you would consider as trend. there's no right or wrong.

beautiful bottom entry at ny session, btw.
  • #16,050
  • Nov 28, 2012 7:34pm Nov 28, 2012 7:34pm
Quoting Vantage
Hi Emmanuel

Not sure if these were posted before but your 1 2 3 4 candle count, see http://www.candlesticker.com/Cs89.asp and http://www.candlesticker.com/Cs87.asp both regarded as high probability patterns.

The set up candles (4th candle in sequence) have 2 of our very, very basic requirements i.e. little/no wick in direction of trade and the concept of engulfing close (above or below the prior 2 candle closes) + the bonus is a close beyond the immediate range (by definition its a trend continuation pattern). Price going...

Hi V,

Thanks.
That is a very good website for learning candlestick patterns.
I like the simplicity of the illustration graphics , easy see and understand.
The patterns shown are mostly useful for stock EOD trading.
However in spot forex, we need to adapt to the 24-hour trading candles.

Kind regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #16,051
  • Nov 28, 2012 7:51pm Nov 28, 2012 7:51pm
Quoting fxrobinhhood
Hi eveyone,

Here is another trade from a newbie.

This is how I took this
1. I waited for the opportunity by looking at HTF most H4 and D.
2. I didn't run after the trade (didn't make a late jump in CT for EU and GU)
3. Look for the bounce from day 10 ema.
4. as the price couldn't cross and bounce, entered long with a tight sl.
5. moved to BE as soon as it staarted to move up.
6. let the tarde run without changin sl.
7. Lock in 20 pips when price stalled.
8. Lock in more pips.

Things I learned in the recent days based on feedback from king...
Well done!

You have your thoughts written down and that is a first good step.

But, you need to have clear defined Entry and Exits rules thought of too before you embark on your next trade. You simply follow these Entry and Exits rules and that would help in your trading decisions quicker when you see the Price Action.
Note: I wrote Exits not Exit

About Trends: see attached.
Attached Image (click to enlarge)
Click to Enlarge Name: EJ Trends .jpg Size: 94 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #16,052
  • Nov 28, 2012 8:06pm Nov 28, 2012 8:06pm
Quoting emmanuel7788
You can use your platform tools to draw horizonatl lines across using the D and W OHLC prices.
Fibo tool is also availabel in all platforms. Simply add those levels you want and draw on previous D high -low.

Which platform do you trade with?
Thanks for your reply

I am using MT Trader.
  • #16,053
  • Nov 28, 2012 8:12pm Nov 28, 2012 8:12pm
Quoting fxrobinhhood
2. When to get out? and how much move to expect?
i don't know about your top entry, but i would hold the bottom entry to 3100ish area (3125 to be exact) as long as the current 4hr bar doesn't finish red. personally that is..
  • #16,054
  • Nov 28, 2012 8:14pm Nov 28, 2012 8:14pm
Quoting fxrobinhhood
I have shown my question on the chart. How to identify pullback? (retracement?)

Is it a matter of understanding patterns?

Please help. thanks.

Ps: I donno why I am filled with questions at midnight!!! I hope some help comes from the right time zone.

Attachment
It is not just a matter of understanding patterns.

on M15 chart, you must be able to use the three EMAs 10, 50 and 200 and see the H-L> HH-HL> HH-HL and L-H> LH-LL> LH-LL.

and using the EMA as your Trend guide, you can easily determine if a particular wave on your M15 chart is a corrective wave of a bigger wave.

***sleepless at midnight? either it is insomnia or nocturnal behaviour. LOL.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #16,055
  • Edited 8:51pm Nov 28, 2012 8:41pm | Edited 8:51pm
Quoting zander2034
Lovebees recently there has been a lot of CTs that the seniors have been posting. This is beyond us AT THIS TIME, leave it for them as it is to risky for us and just a fast way to lose a lot of pips. Master the simple method first before moving on.

There has been oppurtunities for us to make pips using the simple method so please dont be tempted to try and run before you can walk. The market was giving pips away last week but we need to be slightly more patient this week and know that we are not going to get 30 pips per trade...

To all Newbies and Lovebees,

This is wise advice from our brother Zander. You must thank him or else you will regret the next 100 trades.

Listen and practice the usual BASIC SETUPs until you are proficient with this Method and achieve a consistent Win Rate above 50%.

When you can show me that you have completed 100 trades on demo account and have this achieved a 50% Win Rate. You can PM me and I will share with you my 2nd M strategy which is on Money Management, Risk Management, Managing Position Sizing and Trade Management.

1st M - is this Le1 M15 Method
2nd M - Management- of Money, Risk, Trades, Position Sizing, ...
3rd M - Mental Fitness - Manegement of the Trader inside you (tame the beast) and Positive Psychology.

Trade Well.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #16,056
  • Nov 28, 2012 8:59pm Nov 28, 2012 8:59pm
Quoting Renata
Thankyou Zander2034 for this.

I trade Eur Usd and EurJpy. Both have been trading between 200ema and 800ema. Arjun said don't trade when price is between these emas.

It was so frustrating just waiting, while senior members are taking trades all over the place. Ciara ended up with 200 pips and Renata O pips.

I know it is not a competition, so I spent my time trying analyse their trades and why they took them. Gibril said this week is not trending week. Last week was some big moves...
Just a remark:

Most people trade the Range of Body of the D candle.
Some people trade the Range of the Shadow (wick) of the D candle.
Yet some people can trade the entire D Range Top and Bottom of the High to Low, and Low to High of the D.

It is a skill thing which one needs to master.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #16,057
  • Nov 28, 2012 9:10pm Nov 28, 2012 9:10pm
Quoting emmanuel7788
Just a remark:

Most people trade the Range of Body of the D candle.
Some people trade the Range of the Shadow (wick) of the D candle.
Yet some people can trade the entire D Range Top and Bottom of the High to Low, and Low to High of the D.

It is a skill thing which one needs to master.
Hi Emmanuel

Well that remark is something I have never seen or heard before!

I am going to have to really study that one. One thing is for sure this thread keeps the brain constantly ticking in turbo drive!!

Thanks for that.

Lve
Renata
  • #16,058
  • Nov 28, 2012 10:07pm Nov 28, 2012 10:07pm
Hi family members in this thread, thank you everyone for the contributions in this thread.

Enjoy this video.

http://www.youtube.com/watch?feature...&v=ID0kgP9IVhs
  • #16,059
  • Nov 28, 2012 11:18pm Nov 28, 2012 11:18pm
Quoting fxrobinhhood
Hi eveyone,

Here is another trade from a newbie.

This is how I took this
1. I waited for the opportunity by looking at HTF most H4 and D.
2. I didn't run after the trade (didn't make a late jump in CT for EU and GU)
3. Look for the bounce from day 10 ema.
4. as the price couldn't cross and bounce, entered long with a tight sl.
5. moved to BE as soon as it staarted to move up.
6. let the tarde run without changin sl.
7. Lock in 20 pips when price stalled.
8. Lock in more pips.

Things I learned in the recent days based on feedback from king...

!!! Nicely done!
  • #16,060
  • Nov 28, 2012 11:20pm Nov 28, 2012 11:20pm
Quoting fxrobinhhood
I have shown my question on the chart. How to identify pullback? (retracement?)

Is it a matter of understanding patterns?

Please help. thanks.

Ps: I donno why I am filled with questions at midnight!!! I hope some help comes from the right time zone.

Attachment

Don't attempt to map out the way for price. Let price map out the way for you. Always wait for price action to show you the way. Does that make sense?
6 traders viewing now