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Another simple system - Time-Frame 15

  • #18,241
  • Dec 26, 2012 11:30am Dec 26, 2012 11:30am
Quoting Magrami
Hi everyone.
First I wanna thx every single person here who helps ( too many to write names), special thanks to LE1( i hope he sometime look here). Im new on this forum.. I readed almost all important post in this threat. I study this method 2 months. My experience is not big less then 1 year but when I started learning from here my knowleage become bigger and I saw light on end of tunnel. I wasnt posting before because like you see my english is terrible... but I wanna be part of this comunity and i will try do my best.

This is my CT trade (...
Magrami welcome.
nice name sounds Persian to me or Kurdish.I took the same trade congrats.I also took a sell on GU.
Green pips to you.
Just a note LE1 prefers you post actual trade numbers as well not just the chart.Similar to mine.
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In trading, you have to be defensive and aggressive at the same time
  • #18,242
  • Dec 26, 2012 11:45am Dec 26, 2012 11:45am
I note that
greetings
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  • #18,243
  • Dec 26, 2012 12:26pm Dec 26, 2012 12:26pm
Quoting Davit
Magrami welcome.
nice name sounds Persian to me or Kurdish.I took the same trade congrats.I also took a sell on GU.
Green pips to you.
Just a note LE1 prefers you post actual trade numbers as well not just the chart.Similar to mine.

Great job Davit. You really know how to nail pips.
I ve decided to trends for now as a newbie.
  • #18,244
  • Dec 26, 2012 1:28pm Dec 26, 2012 1:28pm
THis is mine Fail Trade..hope anyone can help me hv a look....THK u THK u...


4H -rejected 50EMA and closed above 10EMA...so only looking for BUY..

15M - price closed above BRN and retest 10EMA....so Entry

should TP at PPA (pink line)...????

SL get hit....
Attached Image(s) (click to enlarge)
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  • #18,245
  • Dec 26, 2012 1:44pm Dec 26, 2012 1:44pm
Quoting lowweiting
THis is mine Fail Trade..hope anyone can help me hv a look....THK u THK u...


4H -rejected 50EMA and closed above 10EMA...so only looking for BUY..

15M - price closed above BRN and retest 10EMA....so Entry

should TP at PPA (pink line)...????

SL get hit....
You had a winning trade and I am puzzled why you did not take profit on multiple opportunity and let a winner become a loser.
When Price came back to 10EMA 3rd candle you should of closed. Managing a trade is critical.
Please watch this video from 20+yrs experienced trader on closing trades.Its more important then entering a trade.
Inserted Video

Jason Alan Jankovsky
skip to 9.45 and watch.
In trading, you have to be defensive and aggressive at the same time
  • #18,246
  • Dec 26, 2012 1:48pm Dec 26, 2012 1:48pm
Quoting lowweiting
THis is mine Fail Trade..hope anyone can help me hv a look....THK u THK u...


4H -rejected 50EMA and closed above 10EMA...so only looking for BUY..

15M - price closed above BRN and retest 10EMA....so Entry

should TP at PPA (pink line)...????

SL get hit....
For me it was good trade. But I think you fail with manage it. I dont know if you was monitoring this trade or not. But if you do then you should close this trade in the moment when you saw that up movement lose steam that would be for me when price close on 10 ema or even faster, seconde thing is your sl why in this place ? I would take it belove wick of red candle before EP. I can be wrong still learning but this is what i think
  • #18,247
  • Dec 26, 2012 1:51pm Dec 26, 2012 1:51pm
Quoting lowweiting
THis is mine Fail Trade..hope anyone can help me hv a look....THK u THK u...


4H -rejected 50EMA and closed above 10EMA...so only looking for BUY..

15M - price closed above BRN and retest 10EMA....so Entry

should TP at PPA (pink line)...????

SL get hit....
I think it would be much better if you had entered at NYO. The market was really slow cuz the LO was closed.
My order missed YNO open by 1 pip. Later I made an entry which in loss now.
need some luck to get out of it.
Setup + timing works in my noobish idea.
  • #18,248
  • Dec 26, 2012 1:53pm Dec 26, 2012 1:53pm
Quoting Davit
You had a winning trade and I am puzzled why you did not take profit on multiple opportunity and let a winner become a loser.
When Price came back to 10EMA 3rd candle you should of closed. Managing a trade is critical.
Please watch this video from 20+yrs experienced trader on closing trades.Its more important then entering a trade.
http://www.youtube.com/watch?v=_5hzpggc8a0
Jason Alan Jankovsky
skip to 9.45 and watch.

well said.
I usually have problem with exiting.
  • #18,249
  • Dec 26, 2012 2:16pm Dec 26, 2012 2:16pm
There is a simple solution.If you are already in a winning trade move your stop loss to be either break even or in profit.If I am 20pips in profit I move my SL to 10pips profit allowing room for PA to move in case it goes higher in my way.
Either way you got a free trade and zero chance of a loss.
This system or any other system only provides probability in your favor to enter and once in a trade it becomes a value judgement.Real progress in trading is improving on the value judgement part.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #18,250
  • Dec 26, 2012 2:49pm Dec 26, 2012 2:49pm
Quoting jordfx
For Goodgame42,

Here's the list of indicators and template i'm currently using...
Please who can help me locate that indicator
that shows the chat on other time frame on the present time i intend
placing my trade.
  • #18,251
  • Dec 26, 2012 6:22pm Dec 26, 2012 6:22pm
Quoting cku
Please who can help me locate that indicator
that shows the chat on other time frame on the present time i intend
placing my trade.
Multi Time Frame indicator..

Hi ya Cku..

Here is the Multi Time Frame indicator your after http://www.forexfactory.com/showthre...55#post6251255..

Hope this helps

Cheers,
Adrian
  • #18,252
  • Dec 26, 2012 6:38pm Dec 26, 2012 6:38pm
thk Davit & Magrami....i keep learn....
  • #18,253
  • Dec 26, 2012 7:38pm Dec 26, 2012 7:38pm
Quoting lowweiting
THis is mine Fail Trade..hope anyone can help me hv a look....THK u THK u...


4H -rejected 50EMA and closed above 10EMA...so only looking for BUY..

15M - price closed above BRN and retest 10EMA....so Entry

should TP at PPA (pink line)...????

SL get hit....

Hi loweiting,

From you chart, that looks like a good technical entry. H4 bullish and price momentum above the RN with 10EMA support.

However, when trading in lower TF M15 and with a small SL, we must be careful with TIMING and market Volatility

TIMING - look at PA when market session closing and new market session opening. In your case NYO was in sight. Backtest and observe the overlap of Euro and US sessions. Also when Tokyo closing (this was not the case in your trade as Tokyo was closed that day). Also pay attention when London closing during the US session.

With a small initial SL ( R) , I see your R was about 15pips, you can manage your trade and move your stop to Breakeven BE when market moved +1R in price in your favour. Do you understand this method?

Alternatively, you can scale-out your trade and take some profit at +1R and protect the remaining at BE.

Trade Management requires you to follow the PA after your trade entry and manage your exits as per plan according to PA.

Hope this help.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #18,254
  • Dec 26, 2012 7:50pm Dec 26, 2012 7:50pm
Warning:
If you are using the ADR or any indicator which uses the Day range for calculations, you need to be careful becasue 25 Dec was not a full trading day when NY re-open and your indicator will take that as full day range and average that with other days and give you an unrealistic data to trade with.
The same if your broker had a Sunday candle this week, this multiply the 'error'. ...especially when you use ADR.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #18,255
  • Dec 26, 2012 8:00pm Dec 26, 2012 8:00pm
Quoting emmanuel7788
Hi loweiting,



TIMING - look at PA when market session closing and new market session opening. In your case NYO was in sight. Backtest and observe the overlap of Euro and US sessions. Also when Tokyo closing (this was not the case in your trade as Tokyo was closed that day). Also pay attention when London closing during the US session.


With a small...

thk Emmanuel7788 for reply

can Emmanuel7788 tell me when London close time??(can answer with how many hours London close from US open ??) because i don't know culculate time in GMT or whatever...

about the +R method, i not really fully understand but i saw ur posted before...example, SL 15 mean +1R = 15 rite??

1 more requese, can emmanuel7788 help me view my 4H chart ??the combination of 5 Bars is correct??...really thk ur reply and i learn alot form u... thk
  • #18,256
  • Dec 26, 2012 8:24pm Dec 26, 2012 8:24pm
Quoting lowweiting
thk Emmanuel7788 for reply

can Emmanuel7788 tell me when London close time??(can answer with how many hours London close from US open ??) because i don't know culculate time in GMT or whatever...

about the +R method, i not really fully understand but i saw ur posted before...example, SL 15 mean +1R = 15 rite??

1 more requese, can emmanuel7788 help me view my 4H chart ??the combination of 5 Bars is correct??...really thk ur reply and i learn alot form u... thk

Hi lowweiting,

The market session hours are shown in Forex Factory opening page. See example attached. Use that and adjust to suit your own local time. If you are in Malaysia, you time zone is GMT+8. Figure that out.

Initial Stop Loss is the Risk of your trade. R is use to manage trade exits. Read those post I made on Trade Management using R-Multiple and post your questions there.

Read Dr Van Tharp books :
Trade your Way to Financial Freedom
Super Trader

There is no purpose to combine 5xH4 candles or bars. There are single candle patterns, two candles patterns and three candles patterns,.... Learn the Candlestick Patterns which I posted before. You need to know any five of the commonly re-ocurring CS patterns.

Regards,
Attached Image (click to enlarge)
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #18,257
  • Dec 26, 2012 9:25pm Dec 26, 2012 9:25pm
Quoting Ramjet
Multi Time Frame indicator..

Hi ya Cku..

Here is the Multi Time Frame indicator your after http://www.forexfactory.com/showthre...55#post6251255..

Hope this helps

Cheers,
Adrian

Thanks Adrian
Thats what am looking for
have a blest day
  • #18,258
  • Dec 26, 2012 10:57pm Dec 26, 2012 10:57pm
Good morning everyone!Hope all you get a lot of pips today!

This is my AUD trade today!

Please comment and correct if I have anything wrong!Thanks all!
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  • #18,259
  • Dec 26, 2012 11:23pm Dec 26, 2012 11:23pm
Quoting kaka_ht
Good morning everyone!Hope all you get a lot of pips today!

This is my AUD trade today!

Please comment and correct if I have anything wrong!Thanks all!
You are doing good.You got the basics.
I would be little wary selling AU since it is at the support level.If 90% of the down move has already occurred then the trade is riskier or higher probability of reversing.
Just be always mindful where the price is.
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In trading, you have to be defensive and aggressive at the same time
  • #18,260
  • Dec 26, 2012 11:28pm Dec 26, 2012 11:28pm
Everyone has a thinking pattern.This is mine.Looking at GU I am looking for good spot to short.
I have pending short at 6165 which is close to golden ratio.I'll be looking at possible short at 50% as well.
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In trading, you have to be defensive and aggressive at the same time
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