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Another simple system - Time-Frame 15

  • #18,641
  • Edited 2:44am Jan 5, 2013 2:04am | Edited 2:44am
Here is an interesting Fib tool for Meta trader.Like most meta traders are frustrated with default fib tool.Its rather sterile.
This fib indi shows price and color coded lines and you can modify to your liking.
How to use it.

1.Drop it on your chart
2.Draw a trend line
3.Open trend line property (right click on it)and name trend line name fib1 and next tick it will show very nice big clear fibs like this.
Attached Image (click to enlarge)
Click to Enlarge Name: fib.gif Size: 34 KB
Attached File(s)
File Type: mq4 Fibo_Independence.mq4   13 KB | 546 downloads
In trading, you have to be defensive and aggressive at the same time
  • #18,642
  • Jan 5, 2013 2:13am Jan 5, 2013 2:13am
Quoting emmanuel7788
the only reason why LE1 decided not to continue to share here is because of a few monkeys who came here and make a mockery of Forex Factory and the people who shared their experience and knowledge in this thread. These few monkeys ruin the spirit what Forex Factory stood for and has been for many years. They won't go away easily becasue this monkeys live in the trees. As traders when we read our charts, we must be able to distinguish the trees from the forest.


could you be so polite and explain us one of the fundamentals of this thread the peacock riddle. Please, please help us newbies. All what i read about peacock riddle is look and you will see. Please help us.
  • #18,643
  • Jan 5, 2013 2:45am Jan 5, 2013 2:45am
Quoting ataata
could you be so polite and explain us one of the fundamentals of this thread the peacock riddle. Please, please help us newbies. All what i read about peacock riddle is look and you will see. Please help us.
Peacock Riddle..

Hi ya Ataata..

I think these are the answers your after
http://www.forexfactory.com/showthre...40#post6298140
http://www.forexfactory.com/showthre...51#post6304751

Cheers,
Adrian
  • #18,644
  • Jan 5, 2013 3:40am Jan 5, 2013 3:40am
Quoting Ramjet
Peacock Riddle..

Hi ya Ataata..

I think these are the answers your after
http://www.forexfactory.com/showthre...40#post6298140
http://www.forexfactory.com/showthre...51#post6304751

Cheers,
Adrian
Hi guys/gals,

Forget about that Peacock riddle from now onwards.
You must learn Price Action using the D chart candles.
You will not find the answer in one post or a few posts in this thread.
They are written in many posts and you have to compile them into a complete answer for yourself.

Remember this picture below which I posted.
Do your Big Picture plan every week before you start your trading week.
Everyday, do that same rountine and decide if you want to be Buyer or Seller.
Just follow the Basic setup template.
Post your chart everyday and write down what you see and what you want to trade.
Let other members here help you.
If you don't post any chart with your thoughts written down, it is impossible for anyone here to see what you see and offer their comments.
This is one way to speed up your learning here.
Attached Image (click to enlarge)
Click to Enlarge Name: Doing It Right.png Size: 290 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #18,645
  • Jan 5, 2013 4:40am Jan 5, 2013 4:40am
Quoting emmanuel7788
Reminder to newbies here who are still looking for that perceived 'holy grail'.
Some may think that they just found their holy grail in trying to mix different things they find here in Forex Factory.
The truth will be very hard to swallow. Your trading capital will be your tuition fees to learn trading because there is no university which teaches trading and give you a degree. No matter how many forex trading books you read also will not make you a profitable trader.

Thx Emmanuel778,

That´s so true.
  • #18,646
  • Jan 5, 2013 4:54am Jan 5, 2013 4:54am
Just need some help; I have been pointed to this forum due to the well respected traders on here, issue I'm with igmarkets but wish to use a broker through meta trader 4 could some point me in the right direction; much appreciated
  • #18,647
  • Jan 5, 2013 5:19am Jan 5, 2013 5:19am
Quoting well0143
Just need some help; I have been pointed to this forum due to the well respected traders on here, issue I'm with igmarkets but wish to use a broker through meta trader 4 could some point me in the right direction; much appreciated
Hi,

You don't need MT4 just to trade this simple method.

Every trading platform will its own set of tools and the commonly used technical indicators. You can set up those EMAs on your broker platform and I am sure the Heiken Ashi candlestick is also available. The TDI is s custom indicator and you may not find in some platforms. I no longer trade with IGmarkets so I don't know if their current platform has this TDI. But you can replace TDI using the RSI. ..('fozzy RSI')

One solution is to open a demo account with a MT4 broker (the are several in Australia) and use that for all analysis and study following this thread. You trade live in your live broker platform simply to place your orders and manage in there. This is what I do when I don't trade in MT4.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #18,648
  • Jan 5, 2013 6:28am Jan 5, 2013 6:28am
Quoting emmanuel7788
http://www.forexfactory.com/attachme...1&d=1357328518

Good weekend exercise:

1) It is a question for newbies why you remove the 'training wheels' (the TDI).
- stick with the Basic setup chart with TDI. The Heiken Ashi HA is optional but it will help you in getting that 20pips everyday.

[size=3]2) Do you know which trend you are trading? the M15 trend, the H1 trend or the H4...

Tnx so much Emmanuel for your highly valued inputs. Truth be told, from my experience with the TDI and almost all other indicators, It lags PA too much to be of much use to me personally. The answer to this chart is so much simpler than even using TDI, which seriously repaints( at a point it would seem to have crossed....and then suddenly it hasn't!). But anyone is free to use any tools in this threads' strategy to try an answer the exercise. I'm just personally not a fan of anything complicated. Thats why I said KEEP IT SIMPLE. I have yet to see anyone show me information that can be gleaned from an indicator that cannot also be deduced from PROPER analysis of Price Action. We are all just comfortable with different spectacles to view the same thing...PRICE! At the same time....I don't willfully put down any indicator...like some tend to do about MAs...and TDI....and PIVOTS....FIBS...PITCHFORKS...etc...etc. Just use whatever works for you. WE ALL USE DIFFERENT TOOLS TO ARRIVE AT THE SAME DESTINATION. For example...I have worked out my own way 'SEEING' and 'DEFINING' Divergence using pure PA, MAs and Trendlines. That doesn't mean I'll start to put down those that use MACD, RSI, etc to spot the same divergence and say MACD is not enough, or RSI is not enough, or TDI is not enough, etc...USE WHATEVER WORKS FOR YOU. DOESN'T MEAN IT HAS TO WORK FOR EVERYBODY ELSE.
  • #18,649
  • Jan 5, 2013 11:20am Jan 5, 2013 11:20am
Quoting emmanuel7788
Hi guys/gals,

Forget about that Peacock riddle from now onwards.
You must learn Price Action using the D chart candles.
You will not find the answer in one post or a few posts in this thread.
They are written in many posts and you have to compile them into a complete answer for yourself.

Remember this picture below which I posted.
Do your Big Picture plan every week before you start your trading week.
Everyday, do that same rountine and decide if you want to be Buyer or Seller.
Just follow the Basic setup template.
Post your chart everyday...
Hi Emmanuel7788,

Thx for this post, actually i was looking into it, coincidence you post it.

Can you also give same commentsthoughts on those alineas?? (poinsts 2, 3 ... how do you analyzed them??) sometimes i look into the daily chart and cant make up if is going up or down, some other times they differ from each other, how to go about it??

Thx, have a nice weekend.

Helee
ps: by the way, i got busy over this season reading, Stevie Nison - Japanese Candlestick Charting Techniques
  • #18,650
  • Jan 5, 2013 11:26am Jan 5, 2013 11:26am
Quoting jordfx
Tnx so much Emmanuel for your highly valued inputs. Truth be told, from my experience with the TDI and almost all other indicators, It lags PA too much to be of much use to me personally. The answer to this chart is so much simpler than even using TDI, which seriously repaints( at a point it would seem to have crossed....and then suddenly it hasn't!). But anyone is free to use any tools in this threads' strategy to try an answer the exercise. I'm just personally not a fan of anything complicated. Thats why I said KEEP IT SIMPLE. I have yet to see...
hello man ,

Don't you remember whats your advised to me ? follow the rules , show pnl statement then only do the posting ..... if not just do nothing
if you wanna to contribute pls do wisely....just follow the rules..thats all .

trade well and stay focused by follow your rules.

tq.
  • #18,651
  • Jan 5, 2013 11:42am Jan 5, 2013 11:42am
Quoting ramlanne
hello man ,

Don't you remember whats your advised to me ? follow the rules , show pnl statement then only do the posting ..... if not just do nothing
if you wanna to contribute pls do wisely....just follow the rules..thats all .

trade well and stay focused by follow your rules.

tq.
Ramlanne, posting pnl statements is ONLY to validate TRADES AND CHARTS YOU POST AND CLAIM TO HAVE TAKEN. Is it clear now????
My post that you're quoting has no trades or charts on it, so which pnl are you talking about???
  • #18,652
  • Jan 5, 2013 12:11pm Jan 5, 2013 12:11pm
Quoting jordfx
Tnx so much Emmanuel for your highly valued inputs. Truth be told, from my experience with the TDI and almost all other indicators, It lags PA too much to be of much use to me personally.
I agree with you. Problem is by the time it validates a signal 1/2 or 2/3 of the move is done.I never used it.
In trading, you have to be defensive and aggressive at the same time
  • #18,653
  • Jan 5, 2013 12:13pm Jan 5, 2013 12:13pm
  •  Mr C
  • Joined Mar 2012 | Status: Knowledge is "potential" power | 439 Posts
[quote=aryary;6339872](Mr C - I feel is right if you consider the way the thread has evolved).


Hi Aryary, I obviously agree with you.

To me it’s not about changing the system or adding indicators, it’s about one trader achieving 90% and others losing money while looking at the same template even after practicing for months there just becoming professionals at losing trades.

We are all looking at the same thing but we are not all seeing the same thing this is what needs to be shared and this can only be achieved by leaving the M15 chart and explaining what we see as a whole.

THE SYSTEM: TIME-FRAME 15
The moving averages are well respected on most time frames, according to LE1 the M15 is for pulling the trigger and setting lower stoplosses.

And this is what he does every day:
Attached Image (click to enlarge)
Click to Enlarge Name: What_I_Do.png Size: 108 KB

To some it would be valuable to know what goes on in those 8 minutes, what is seen on the daily in those 3 minutes and how you decided on direction also those 5 minutes on the H4…

Now I think a lot of newbies would learn more if they start their day in the right direction but all they have is the M15 200 EMA Long above Short below!

The System in my opinion is about how you get to theTrigger.

Paul,
Of all the things I've lost I miss my mind the most .
  • #18,654
  • Jan 5, 2013 12:23pm Jan 5, 2013 12:23pm
Quoting Davit
I agree with you. Problem is by the time it validates a signal 1/2 or 2/3 of the move is done.I never used it.
the point is follow the rules of this threads.....thats all man

tq
  • #18,655
  • Jan 5, 2013 12:32pm Jan 5, 2013 12:32pm
[quoteWe are all looking at the same thing but we are not all seeing the same thing this is what needs to be shared.... To some it would be valuable to know what goes on in those 8 minutes, what is seen on the daily in those 3 minutes and how you decided on direction also those 5 minutes on the H4.…. The System in my opinion is about how you get to theTrigger. --Paul[/quote]

Exactly. Arjun says to "watch the price in relation to 10/200/800 emas." We need to learn (see) what "relationship(s)" to look for. You put it perfectly. Thank you!
  • #18,656
  • Jan 5, 2013 12:48pm Jan 5, 2013 12:48pm
Quoting ramlanne
the point is follow the rules of this threads.....thats all man

tq
So you are the TDI police? after 35 posts...
Attached Image
In trading, you have to be defensive and aggressive at the same time
  • #18,657
  • Jan 5, 2013 12:58pm Jan 5, 2013 12:58pm
Quoting jordfx
As an exercise for newbies. Post your answers to the following trade. Keep it simple. Lets see if we can all learn something together.
I have been thinking about this setup over the day. we try to put the probablities in our favour and I believe this was done. Yes we there were other indicators that could have been used that may have hinted at a reversal but we cannot use evry indicator every time as they will no doubt contradict. the trend line may have been broke but this setup could start the next trend downwards. HL was mentioned aswell, i personally dont class a price as reaching a new low until a 15 min candle closes not just touches and goes straight back up but everyone is different and nobody is right thats the beauty of trading.

In this instance I believe that the probabilities were in our favour while using this method. just say 80/20 in our favour. so there is always that 20% chance that it may fail thats forex and nothing is certain and this time the trade was in the 20%.

The method is good but no strategy is right 100% of the time and even great traders who have their strategy set perfectly and have the perfect mindset still lose trades. Every moment in the market is unique so nobody knows what will happen. If a similar setup occurred again during my trading hours I would take it.

Making consistant profits is all about percentages. if you have a good understanding of the method and manage to have a risk/reward 1/4 and risk is always around the same and you manage 80/20 win/loss you are going to be very happy even though you lost 20 trades you are still making huge gains.

zander
  • #18,658
  • Edited 5:03pm Jan 5, 2013 1:39pm | Edited 5:03pm
Quoting mary4x
[quoteWe are all looking at the same thing but we are not all seeing the same thing this is what needs to be shared.... To some it would be valuable to know what goes on in those 8 minutes, what is seen on the daily in those 3 minutes and how you decided on direction also those 5 minutes on the H4.…. The System in my opinion is about how you get to theTrigger. --Paul
Exactly. Arjun says to "watch the price in relation to 10/200/800 emas." We need to learn (see) what "relationship(s)" to look for. You put it perfectly. Thank you![/quote]

Here you go maryfx. It was expected that every newbie would do this exercise on their own. It's the practical interpretation of this threads strategy. Study the charts and try doing it yourself. Hope it helps.
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  • #18,659
  • Jan 5, 2013 2:11pm Jan 5, 2013 2:11pm
Quoting zander2034
I have been thinking about this setup over the day. we try to put the probablities in our favour and I believe this was done. Yes we there were other indicators that could have been used that may have hinted at a reversal but we cannot use evry indicator every time as they will no doubt contradict. the trend line may have been broke but this setup could start the next trend downwards. HL was mentioned aswell, i personally dont class a price as reaching a new low until a 15 min candle closes not just touches and goes straight back up but everyone...
Study the core principles of this threads strategy again. The question you should be asking is..what exactly is our trading edge? At what points have the odds been outlined to be stacked in our favor by Arjun? I believe the odds were not really that favorable at those points(with respect to this threads strategy of course!). More-over the HL observation was actually spot on! I'll explain further tomorrow and post a chart to illustrate what I mean. The signal wasn't loud, so could easily be missed, but it was there all the same...one of the ingredients I use in spotting divergence using PA, TLs and swings. This negated any high probabilities from the setup.
  • #18,660
  • Jan 5, 2013 2:16pm Jan 5, 2013 2:16pm
thank Jorfx for ur splendid explanation
i iwsh u well
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