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Another simple system - Time-Frame 15

  • #16,121
  • Nov 29, 2012 9:31am Nov 29, 2012 9:31am
This is my AJ trade. Though, Emotion wanted to set in when the price retrace to test 50ema. I wanted to TP at ADR but when the price fail to make a new low and close manually. I would have moved to BE after 20 pips and I would have been stoped out but it was my sleeping time so i could not move to BE.
Attached Image (click to enlarge)
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THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #16,122
  • Nov 29, 2012 9:36am Nov 29, 2012 9:36am
Quoting ejiexe
This is my AJ trade. Though, Emotion wanted to set in when the price retrace to test 50ema. I wanted to TP at ADR but when the price fail to make a new low and close manually. I would have moved to BE after 20 pips and I would have been stoped out but it was my sleeping time so i could not move to BE.
awesome trade brother !!!
peace
dom
  • #16,123
  • Nov 29, 2012 10:06am Nov 29, 2012 10:06am
Quoting ejiexe
Another fake or trap candle.

What I am trying to point out is that we LOVEBEES should not just look at the candle bounce from 10ema alone without other supporting factors. Most time, it is even opportunity for me to go against that candle bcos I knew when it occurs at the wrong place, it is a trap.

Look at this again on GU. The previous chart i posted was a daily chart of AJ and delibrately not to show the pair and tf bcos "ONE IS EVERYTHING AND EVERYTHING IS ONE"



I think this is what Arjun is trying to point out too. That we should use logic....
Newbie study, major resistance from HTF TL, and same level resistance. Plus the V turn (EU HL-LH 110pips each way, GU around 85pips) in recent 3 days, make them tried, even ADR looks not reached on each single.

Millions thanks to great masters here, teacher loveevery1 and all the kind-hearted expert traders, for your hard works to guide us in good attitude and knowledge.

Have a nice day, Bruce
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With harmony & happiness, you are trading.
  • #16,124
  • Nov 29, 2012 1:10pm Nov 29, 2012 1:10pm
Hello everybody,

what do you think about this analysis of the market?
A potential trade is cooking....

Kyurem
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  • #16,125
  • Nov 29, 2012 1:44pm Nov 29, 2012 1:44pm
what about that one ...
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  • #16,126
  • Nov 29, 2012 2:36pm Nov 29, 2012 2:36pm
Quoting ejiexe
This is my AJ trade. Though, Emotion wanted to set in when the price retrace to test 50ema. I wanted to TP at ADR but when the price fail to make a new low and close manually. I would have moved to BE after 20 pips and I would have been stoped out but it was my sleeping time so i could not move to BE.

This trade is picking the Top of the D and exit at the Bottom of the D.
What is the LOGIC behind this way of trade?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #16,127
  • Nov 29, 2012 2:45pm Nov 29, 2012 2:45pm
Quoting kyurem
what about that one ...
Nice!

short on H1 IB.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #16,128
  • Nov 29, 2012 2:49pm Nov 29, 2012 2:49pm
Quoting kyurem
Hello everybody,

what do you think about this analysis of the market?
A potential trade is cooking....

Kyurem
Aussie ...
D double peak close
H4 H&S
H1 simply ugly

Today can go either way ... but it is Friday.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #16,129
  • Edited Nov 30, 2012 2:31am Nov 29, 2012 3:15pm | Edited Nov 30, 2012 2:31am
Quoting fxrobinhhood
Took a renetry on gu but sl taken out. I should put TP below RN.

initial sl= 12 pips
profit= 17 pips

Attachment

Good profit 17pips. Small SL 12...I like.

Sometimes, being in a trade prevents us from taking BASIC SETUPs when they show up.

What LOGIC do we apply when we see such situations?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #16,130
  • Nov 29, 2012 3:36pm Nov 29, 2012 3:36pm
An early morning trade Sydney Open
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #16,131
  • Nov 29, 2012 4:46pm Nov 29, 2012 4:46pm
Quoting fxrobinhhood
Great mate. well done.

How do you find the ADR high? and low

I appreciate your help.

here what u want....
Attached File(s)
File Type: ex4 !SM_ADR Marker.ex4   12 KB | 314 downloads
  • #16,132
  • Edited 6:12pm Nov 29, 2012 5:16pm | Edited 6:12pm
Quoting emmanuel7788
I did not come to this level in a few months. It took me more than 10,000 hours over the last 5 years.... I am here to help you all to shorten your learning curve. There are some things you don't need to go through the hard way which I went through in the last 5 years. I love to help and I hope you all love to learn....
Emmanuel, this means so much to me. I've been trying to trade forex for a very long time and have been with this thread since the beginning. But I do not (so far) see what I need to see. (I just had my eyes checked today, and they're fine.) I spend many hours every day reading posts and looking for what others are seeing. I'll keep trying, and I appreciate your encouragement and teaching.
  • #16,133
  • Nov 29, 2012 6:27pm Nov 29, 2012 6:27pm
Quoting mary4x
Emmanuel, this means so much to me. I've been trying to trade forex for a very long time and have been with this thread since the beginning. But I do not (so far) see what I need to see. (I just had my eyes checked today, and they're fine.) I spend many hours every day reading posts and looking for what others are seeing. I'll keep trying, and I appreciate your encouragement and teaching.
I got the same problem .Emmanuel post was very helpful.I was getting hopeless too but after reading his post I am more determined now.

I haven't spend 10,000 hrs yet.Need to study more hrs

Good luck
Mike
Failure, is a wonderful teacher!
  • #16,134
  • Nov 29, 2012 6:27pm Nov 29, 2012 6:27pm
BASIC SETUPs:

All trade setups are expose to risks. Some we can see clearly following the rules in post#1. Other risk are not visible.
One of your task as traders is to mitigate all the known the risks.

Today is the last trading day for this month of Nov 2012.
Do not rush into trades simply because you have not reached your targets for this month.

Trade with extra Caution!
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #16,135
  • Nov 29, 2012 6:32pm Nov 29, 2012 6:32pm
Quoting mary4x
Emmanuel, this means so much to me. I've been trying to trade forex for a very long time and have been with this thread since the beginning. But I do not (so far) see what I need to see. (I just had my eyes checked today, and they're fine.) I spend many hours every day reading posts and looking for what others are seeing. I'll keep trying, and I appreciate your encouragement and teaching.

I am glad and even more encouraged that what I am doing help you.
Treat Trading as a Business.

Trade with a Purpose and make your Business more meaningful and worthwhile.

Perseverance will get you there in time.

Enjoy this Journey.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #16,136
  • Edited 7:17pm Nov 29, 2012 6:34pm | Edited 7:17pm
Quoting mike1349
I got the same problem .Emmanuel post was very helpful.I was getting hopeless too but after reading his post I am more determined now.

I haven't spend 10,000 hrs yet.Need to study more hrs

Good luck
Mike

Hi Mike,

You will get there. I know you will.

You know why? LOL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #16,137
  • Edited 9:13pm Nov 29, 2012 6:35pm | Edited 9:13pm
Quoting mary4x
Emmanuel, this means so much to me. I've been trying to trade forex for a very long time and have been with this thread since the beginning. But I do not (so far) see what I need to see. (I just had my eyes checked today, and they're fine.) I spend many hours every day reading posts and looking for what others are seeing. I'll keep trying, and I appreciate your encouragement and teaching.
Hi ya Mary4x..

I think a lot of the problem you may have is like myself and many other learner traders of looking at different systems every time you get a loss..
We have to as traders get past that and stay focused and realize that every trade has an uncertain outcome so the best you can do is trade your edge..

What has attracted me to this method and kept me focused to Arjun's thread is the fact that there are so many different ways of trading it for opportunity..not to mention the added bonus of all the great teachers and friends you are making in this thread

For now if you are having troubles just focus on the basics...trade away from the 200ema and 10ema while keeping an eye on major S/R areas in your path...that's it!!
From there you can build and follow Arjun's trading plan http://www.forexfactory.com/showthre...79#post6104379

And most of all read the thread...I have been doing it constantly for hours and hours daily and after nearly 2 months I'm starting to see these patterns over and over again which surprises me as Arjun and X-Man kept saying it but I just couldn't see it until now..

Now comes the psychology to believe in it and stay in the trade something that takes time and is a never ending process and comes with time and experience..
You have to build a habit of repeating and repeating over and over the method until it becomes automatic and you start to see these patterns appear like magic in front of you....
Here is a great video put up by Assange on habits and why they are powerful http://www.forexfactory.com/showthre...75#post5661275

Read the thread....stick with the method...practice, practice, practice...build a habit....see the trade patterns appear like magic..

Cheers,
Adrian
  • #16,138
  • Edited 7:04pm Nov 29, 2012 6:38pm | Edited 7:04pm
Quoting emmanuel7788
An early morning trade Sydney Open
http://www.forexfactory.com/attachme...1&d=1354232153

I got a PM asking me why I took this trade and seeing how the price moved after my entry, he asked why I still hold on to this 'BAD' trade.

Why did I take this trade in the first place?

What is the potential of this SETUP?

Is there room for me to take +1R and BE this trade setup?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #16,139
  • Nov 29, 2012 7:11pm Nov 29, 2012 7:11pm
Quoting emmanuel7788
http://www.forexfactory.com/attachme...1&d=1354232153

I got a PM asking me why I took this trade and seeing how the price moved after my entry, he asked why I still hold on to this 'BAD' trade.

Why did I take this trade in the first place?

What is the potential of this SETUP?

Is there room for me to take +1R and BE this trade setup?
Hey Emmanuel..

Why did I take this trade in the first place?
Down trend with 50/200ema at your back..
Retouch of 10ema pointing down..
Break below Support..
Space to the left..

What is the potential of this SETUP?
1:1..

Is there room for me to take +1R and BE this trade setup?
Yes, down to the lower Support level and reversal point..
Entry below a S/R area so good chance of getting to BE..

Cheers,
Adrian
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  • #16,140
  • Nov 29, 2012 7:23pm Nov 29, 2012 7:23pm
Quoting emmanuel7788
I did not come to this level in a few months. It took me more than 10,000 hours over the last 5 years.
I am in the same position, roughly 10,000 hours of live in front of charts trading time. Add the amount of time spent over many, many, many weekends going over countless months of charts researching changes (99.9% of which were discarded/never traded live) effectively massively more hours than that.

Does that mean you need to do this number, no. If you are reading this thread and following these trend principles you potentially have a massive advantage. What it does mean that you need to work hard at concepts like support/resistance and a few others and get a method clear in your head.

What may take time is failing at the initial steps (getting clarity on method) and working through the "what doesn't work" steps.

I have done a few tweaks along the way (no moving from 8 lwma to 10 ema on 15 min chart doesn't count), entry from 5 to 15 min after MTF analysis done was one of the bigger ones.

Do yourself a big favour. Stop focusing on what others are doing on any 1 trade (especially if CT) focus on the core method. Trend and support/resistance have to be the 2 over riding concepts for success.
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