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  • #9,501
  • Edited 4:00am Dec 14, 2012 3:39am | Edited 4:00am
Quoting munirpt
hi thomi

not yet for some reasons:

Impulse leg was very fast, so retracement can be very large.
The place you entered is s logical place to enter.
What i dont like is that price is above all my emas
also green and red are very distant.
But we are approaching 61.8 retracement and rn. Thats the major defense line for bears.
I will wait for a more clear entry signal, so far, im a bit confused. Also we went back up into the 1h trendline....

edit: Got in now with 10 pip sl at same place you entered. Lets see how it goes....
edit 2: Up 8 pips, SL moved to BE. dont wanna risk anything, since we have trendline below...
edit 3: taken out at BE
  • #9,502
  • Dec 14, 2012 4:01am Dec 14, 2012 4:01am
Munirpt thank you for the explanation, I think I have to stay on time units h1 or h4 because otherwise I have too many bad trades.
Always a pleasure to see screenshot :-)
  • #9,503
  • Dec 14, 2012 4:04am Dec 14, 2012 4:04am
Quoting thomi
Munirpt thank you for the explanation, I think I have to stay on time units h1 or h4 because otherwise I have too many bad trades.
Always a pleasure to see screenshot :-)
I'm right there with you thomi! I transitioned from H4 when I was just getting comfortable with it all the way to the more popular faster time frames of late and just am not ready yet.

Soon enough,
  • #9,504
  • Dec 14, 2012 4:11am Dec 14, 2012 4:11am
Quoting illlili
I'm right there with you thomi! I transitioned from H4 when I was just getting comfortable with it all the way to the more popular faster time frames of late and just am not ready yet.

Soon enough,
I think it is possible to make 2 trades on the 4h and take 50 to 70 pips on the week.
the hardest part is knowing not to do when there is nothing to do ...
  • #9,505
  • Dec 14, 2012 4:14am Dec 14, 2012 4:14am
Quoting thomi
Munirpt thank you for the explanation, I think I have to stay on time units h1 or h4 because otherwise I have too many bad trades.
Always a pleasure to see screenshot :-)
here is my chart with the setup that i was expecting....
Unfortunately got taken out at BE because of the spread!!!!! GRRRRR
There will always be more markets to trade, so no big worry
Attached Image (click to enlarge)
Click to Enlarge Name: EU14.jpg Size: 165 KB
  • #9,506
  • Dec 14, 2012 4:44am Dec 14, 2012 4:44am
One BIG question to you all when do you move your trade to BE?

Is it according to the rules of X-man... meaning after PA moves 30 pips after your entry in desired direction or you have some other rule?
  • #9,507
  • Dec 14, 2012 4:49am Dec 14, 2012 4:49am
Quoting Defiant
One BIG question to you all when do you move your trade to BE?

Is it according to the rules of X-man... meaning after PA moves 30 pips after your entry in desired direction or you have some other rule?
1. If my 1st TP is hit, this is when I put it down.
2. If things dont go as expected, I usually watch PA on M5
Thoughts are things
  • #9,508
  • Dec 14, 2012 4:54am Dec 14, 2012 4:54am
Quoting Defiant
One BIG question to you all when do you move your trade to BE?

Is it according to the rules of X-man... meaning after PA moves 30 pips after your entry in desired direction or you have some other rule?
Hi Defiant

I move my SL to BE depending on the risk of the trade(Trend or Counter Trend) and the TF in which my trigger is made.
If I take a trade on 15M my SL is moved very fast to BE, because I mostly enter on retracements which allows me that.
If I take a trade on 1H Setup, then I would probably wait it to go till 20 to 30 pips to move SL.
I know that many people might not agree with this style, but im very conservative and I hate to lose, thats why i always try to keep the SL tight...
  • #9,509
  • Dec 14, 2012 6:18am Dec 14, 2012 6:18am
Here are the trades I took this week on the EU H1. I entered all trades during the London session (except the 1 early trade during the Frankfurt session based on a strong pullback candle) per my trade plan. A very good week......
Munir/Dee....great trading and excellent analysis by both of you......keep up the good work.
Attached Image (click to enlarge)
Click to Enlarge Name: 2012.12.14 eu h1 week.jpg Size: 141 KB
  • #9,510
  • Dec 14, 2012 6:56am Dec 14, 2012 6:56am
Quoting Phx62
Here are the trades I took this week on the EU H1. I entered all trades during the London session (except the 1 early trade during the Frankfurt session based on a strong pullback candle) per my trade plan. A very good week......
Munir/Dee....great trading and excellent analysis by both of you......keep up the good work.

PHX62 you inspire me!
  • #9,511
  • Dec 14, 2012 7:20am Dec 14, 2012 7:20am
Quoting Phx62
Here are the trades I took this week on the EU H1. I entered all trades during the London session (except the 1 early trade during the Frankfurt session based on a strong pullback candle) per my trade plan. A very good week......
Munir/Dee....great trading and excellent analysis by both of you......keep up the good work.
this is what can be called GREAT TRADING!!!
  • #9,512
  • Dec 14, 2012 7:52am Dec 14, 2012 7:52am
Quoting munirpt
Hi guys

This is a chart to explain my thought process on a new way of entering the market using Dee methodology using the 15 TF.
The chart is self-explanatory if you have some knowledge of price action.
Would like to reinforce that you find the exact entries signal at similar spots using the 1H chart - This method only helps you minimizing the drawdown.
Im also not sure if this works everyday, since its something I am testing recently....
Im sure some days , price will just shoot and not give an opportunity to enter the trade in a retracement.
The...
Thanks for the kudos Munir, but the "Dee Methodology" is not mine, I do not know whose it is. It is a combination of the good old 123 and the Breakout Pullback methods. I did some back testing after I noticed that when the 2nd leg pullback of a 123 occurred with a S&R zone creating a Breakout Pullback that you were "almost" guaranteed a reversal continuation with out price coming back to retest your entry point which often occurrs during a normal 123. The down side of this entry method is that you are entering later therefore missing out on some pips. The upside is, particulary for the newer trader, is that you get an entry with a smaller stop loss, less risk, and using either market harmonics or Fib Expansions you have a very clearly defined target so you can work out your R/R to determine wether the trade is worth while for you. For those traders who are able to determine a reversal point (Top or Bottom) of a range this method will be less attractive, because they are better able to determine the reversal point they will actually have a much better entry and depending on the swing type they may also have a smaller risk, I have never been that good at identifying the top or bottom so this method is an acceptable compromise for me.

For those of you not familiar with the 123 swing trade, here are a couple of PDFs explaining it.
Attached File(s)
File Type: pdf 123 Chart Pattern + Fib Expansion.pdf   111 KB | 1,198 downloads
File Type: pdf 123TradingSignal.pdf   1.1 MB | 1,361 downloads
Cut your Losers short and let your Winners run.
  • #9,513
  • Dec 14, 2012 8:09am Dec 14, 2012 8:09am
/6E 5min

eminiaddict.com

Attached Image (click to enlarge)
Click to Enlarge Name: 2012-12-14-TOS_CHARTS.jpg Size: 137 KB
  • #9,514
  • Dec 14, 2012 8:11am Dec 14, 2012 8:11am
thanks for the pdf's

-bill
  • #9,515
  • Dec 14, 2012 8:33am Dec 14, 2012 8:33am
Quoting ozobU
thanks for the pdf's

-bill
Thanks for link to eminiaddicts. I cut my teeth trading the ES on the 1 min TF 7 years ago before I moved to the EU, recently I have revisited the ES and now trade it at NY session and have been looking for a reference site with comment and discussion and it looks like eminiaddicts is good for both, so thanks.
Cut your Losers short and let your Winners run.
  • #9,516
  • Dec 14, 2012 8:35am Dec 14, 2012 8:35am
Have a nice weekend. Adios.
Cut your Losers short and let your Winners run.
  • #9,517
  • Dec 14, 2012 8:40am Dec 14, 2012 8:40am
dee,

He trades ES, TF, YM, GC, 6A, 6B, 6E

On his screen he always has up ES, TF, YM, 6E
  • #9,518
  • Dec 14, 2012 8:58am Dec 14, 2012 8:58am
Quoting Defiant
One BIG question to you all when do you move your trade to BE?

Is it according to the rules of X-man... meaning after PA moves 30 pips after your entry in desired direction or you have some other rule?
NEVER follow some one elses rules for money mangement, it is a receipe for disaster. Their risk appetite will be completeley different from yours. The other problem is that the rules for a method were written at a time when market dynamics were different, unless of course the thread has just been started. End of lecture. Sorry. I back tested and found that a move to B/E +2 after price had moved +15 pips gave me an acceptable number of wins to B/E´s, however, that back test was done 4 months ago and ever since then the market has been changing, again. Look at PHx62 trades he has reacted to the change by reducing his TP from 50 to 40 and now scalping for 20. This will not be a popular recommendation, but you need to back test to see what is acceptable for you, for now. You do not need to back test for months, just a couple of weeks so that you are testing with the current market dynamics.
Cut your Losers short and let your Winners run.
  • #9,519
  • Dec 14, 2012 9:08pm Dec 14, 2012 9:08pm
Hello everyone
This is first post as a SSS trader, previous to this system I tried and failed on the 5 min scalping systems, but now 1hrand 4hr time frame have proved to be my best friends.
I am a 'Breakout Trader’, I decided to try out this system and found that the TDI Indi used on this system does everything i need.
Here is my first real week following this system combined with my style of trading.
I took 4 trades total I traded on the 1hr chart, but waited for TDI confirmation on the 4rh charts.
My trade manager is taking partial profits at different points, so that would explain all the positive pips
I really messed up my trade #4 - I forgot my rules and tried to predict where price would go. I had my doubts when i entered since both lines of the TDI were flat on the 4hr chart.
Where i live the London open starts at 12 am midnight and that day i had a really big final exam so i decided to let run and go to sleep, hoping the S/R line would reject the price action.
My trade manager also failed to breakeven my trade; if i had stayed awake i would’ve manually intervened since the TDI clearly explained my trade had gone wrong.
This week was 3/1 win ratio and helped me realize that my money management system needs improvement after that 45 pip loss. My risk to profit ratio is negatively unbalanced due to the partial take profit system, that loss really offset my profits. I need to figure a way to minimize losses.
Attached Image (click to enlarge)
Click to Enlarge Name: dec 14.jpg Size: 144 KB
Dragon Rider
  • #9,520
  • Edited 4:44am Dec 15, 2012 3:51am | Edited 4:44am
Quoting barloc
Hello everyone
This is first post as a SSS trader, previous to this system I tried and failed on the 5 min scalping systems, but now 1hrand 4hr time frame have proved to be my best friends.
I am a 'Breakout Trader’, I decided to try out this system and found that the TDI Indi used on this system does everything i need.
Here is my first real week following this system combined with my style of trading.
[size=3][font=Calibri]I...
Hi barloc

welcome on board.
regarding your trade #4 let me share a small piece of advice.

Although my bias for the day was bearish, we have to be able to shift our bias if market tells us to do so (i know from my own experience that its very easy to say and very difficult to do...).

When market put a bullish candle at 11GMT followed by a rejection and a move lower, you would have realised that, at that time we had a 61.8% retracement of the LO impulse leg and rejection. When you saw that the level was able to hold (confluence with Asia session high, yesterday high, 61.8% retracement of impulse leg + round number) I would say that at that time your stop could have been moved a couple of pips above the RN.

At 13GMT the market made its new attempt to go lower with rejection of 15pips by the 200 EMA.

thats another sign telling us that the market might not go down. when i saw that i went to 15TF to see if there was divergence and actually there was some bullish divergence. Personally, I would exit at the close of that candle at BE (since you entered at the break of 1H trendline).

Even if you didnt exit at that time, at 14GMT the market tests again the 61.8% retracement and TDI is about to cross (or bounce). Now the question is, will it cross or bounce. It would be very likely to cross because of all reasons mentioned before + market attempted several times to go lower without success.

At the close of that candle you had another opportunity to exit with only 5 pips loss.
Even if you didnt want to exit there, having the SL at the RN would have given you a smaller loss of 25 pips.

Hope that it helps you!

Wish you success

Munir
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