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  • #9,701
  • Jan 8, 2013 5:44pm Jan 8, 2013 5:44pm
Quoting thomi
yes I know but why not have picked a trade at this place?
element indicates what not to take long?
The entry was short at London Open based on my analysis that price was testing the 200EMA and the Daily resistance line and not breaking it. I analysed that price should go down.....which it eventually did.
  • #9,702
  • Jan 8, 2013 8:09pm Jan 8, 2013 8:09pm
Quoting dee50
2 trades +40 & +25 EU. First trade TDI bounce on 1 hr for +40. Second trade a 123 BOP on the 15 min for +25. Reasons for entry and exits are clearly marked on the charts.

EDIT. The white dashed line that price was also bouncing off is the Monthly Pivot, and just above a 78.6% fibo. Often when price "bounces off" an MA you will find something else behind it, Pivot, Fibonacci level or even a S&R level. If price bounces off an MA in isolation there is a very good chance that price will return and break through.
Thanks for posting your chart, I also took your first trade , almost to the pip , then had to go out .
Looking at the 15 m chart i'm trying to understand where is the 123 pattern, i'm never too sure about these .
Your help would be much appreciated.
  • #9,703
  • Jan 9, 2013 3:58am Jan 9, 2013 3:58am
Quoting Phx62
I am a technical trader....I am aware of pending news releases but I do not use them to determine trades...I just trade what I see on the charts. As most traders, I have tried to trade fundamentals but without success. If a news release moves the price a different direction and I am in a trade I just exit with as much profit as I can get. I usually will not enter a trade just prior to or during big news releases.

For the session indicators I use.....see post 7144 of this thread or go to the paperclip at the top of this thread and find them...

Thanks Phx62, really appreciate your help.
  • #9,704
  • Jan 9, 2013 4:54am Jan 9, 2013 4:54am
Quoting robuk
Thanks for posting your chart, I also took your first trade , almost to the pip , then had to go out .
Looking at the 15 m chart i'm trying to understand where is the 123 pattern, i'm never too sure about these .
Your help would be much appreciated.
One of the problems for you is that I do not trade Spot Forex, so my charts do not match yours. So I have marked up a Metatrader with yesterdays 123 pattern with my normal 15 min chart as comparison. Hope this clears it up a bit.

For those of you that were not onboard at the time here are the links to the PDFs for 123 patterns

http://www.forexfactory.com/attachme...2012%2010:51am

http://www.forexfactory.com/attachme...2012%2010:51am
Attached Image (click to enlarge)
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Cut your Losers short and let your Winners run.
  • #9,705
  • Edited 9:18am Jan 9, 2013 5:07am | Edited 9:18am
Quoting Tradermurat
Hi it is possible to share your fibo indicator ???

Dee50
I draw my Fibos manually using a standard Fibo tool. There is an excellent book about using Fibos, check this post for a download link. I downloaded the book read it once, bought it and now it sits by my desk. Many traders do not use Fibos correctly, even experienced ones, Carolyn shows you how.


EDIT. Link is no longer active. Google. "Fibonacci Trading How to Master the Time and Price Advantage" by Carolyn Boroden
Cut your Losers short and let your Winners run.
  • #9,706
  • Jan 9, 2013 5:11am Jan 9, 2013 5:11am
This is an interesting article from the WSJ, I hope what they are saying comes true because if it does then News Trading may well become predictable again. For a couple of years I traded nothing but the news and made a damn good living from it. But it also means that the Market over all would be a bit more predictable as well.

http://www.forexfactory.com/news.php?do=news&id=404169
Cut your Losers short and let your Winners run.
  • #9,707
  • Edited 7:04am Jan 9, 2013 5:31am | Edited 7:04am
The last red arrow marks the place where I've entered short imidiately after the PA broke the Asian low. Strong HA bear candles, PA under 200EMA and TDI added value to my decision. There is a 23Fib level there which worries me but lets see. SL 30 pips(LO high) and TP 50 based on ATR.

Your comments will be much appreciated. Thank you guys and good luck.
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  • #9,708
  • Jan 9, 2013 5:41am Jan 9, 2013 5:41am
hello to everyone.I tried many systems on forex but i keep coming back to this one because i understand it and its easy to use.I have a question,is there any body hwo use 2 TF charts like in the picture.Because when i entered based on the 4h,the Tdi was sloping up but on the 1h the Tdi made a cross down and it took me out.Thank you very much.
Attached Image (click to enlarge)
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  • #9,709
  • Jan 9, 2013 6:31am Jan 9, 2013 6:31am
Quoting dee50
One of the problems for you is that I do not trade Spot Forex, so my charts do not match yours. So I have marked up a Metatrader with yesterdays 123 pattern with my normal 15 min chart as comparison. Hope this clears it up a bit.

For those of you that were not onboard at the time here are the links to the PDFs for 123 patterns

http://www.forexfactory.com/attachme...2012%2010:51am

http://www.forexfactory.com/attachme...2012%2010:51am
Thanks very much , very kind of you, I will study them.
  • #9,710
  • Jan 9, 2013 7:14am Jan 9, 2013 7:14am
Hi, this is my first post in this thread as I found it only yesterday evening and just want to express my deep thank you to all participants here in this wonderfull thread for they contributions and much more wonderfull simple to understand system. thanks X-Man and respect. Also I want to show my first succesfull live trafe today which make me just 13pips as I moved my stop too early. Please comment if my entry was corrext. Thanks againPS: as I am following also Genesis thread here on FF, thats why I have one more indie - genesis matrix at the bottom of my example, thougt it is also good filter, as I am new with this S3 system.
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  • #9,711
  • Jan 9, 2013 7:45am Jan 9, 2013 7:45am
PHX

I note you're a user of CaveManager. Most of its MANY options don't concern me but two of its features do interest me:

1 Trail By Candle HL
2 No Loss After Pips

I guess Trail by Candle applies to Japanese Candles only and NOT the Synergy / HA ones?

Do you regularly make use of any of the other possibilites in CM?


Is your main trading is still on EU H1, you don't often use other pairs or TFs?

Thanks again for you excellent posts.

rorieu




Quoting Phx62
The 1st London candle appeared to set the low of the day right at the yellow daily resistance line, so I entered the trade long.....I just didn't know price would take so long to go that direction. The drawdown on the trade turned out to be 8 pips and my SL was 16 pips so I stayed in it (actually my EA kept me in it.....I was asleep). The trade moved 21 pips in my favor on the third candle before bouncing down and the back up, so the EA moved my SL from 40 pips to 16 pips once price reached...
  • #9,712
  • Jan 9, 2013 8:20am Jan 9, 2013 8:20am
Quoting dee50
I draw my Fibos manually using a standard Fibo tool. There is an excellent book about using Fibos, check this post for a download link. I downloaded the book read it once, bought it and now it sits by my desk. Many traders do not use Fibos correctly, even experienced ones, Carolyn shows you how.

http://www.forexfactory.com/showthre...37#post6045137
hi dee50, I'm not able to check the attachment. Could you reupload if possible? I would like to take a look at that.
  • #9,713
  • Jan 9, 2013 8:25am Jan 9, 2013 8:25am
Quoting rorieu
PHX

I note you're a user of CaveManager. Most of its MANY options don't concern me but two of its features do interest me:

1 Trail By Candle HL
2 No Loss After Pips

I guess Trail by Candle applies to Japanese Candles only and NOT the Synergy / HA ones?

Do you regularly make use of any of the other possibilites in CM?


Is your main trading is still on EU H1, you don't often use other pairs or TFs?

Thanks again for you excellent posts.

rorieu
Yes....I still mainly trade the EU H1....it makes a steady amount of money for me.....I do trade some EJ during the Asian and London sessions.
I only use the two features on the Cave Manager that you mentioned plus I have it set my TP and SL every time I open a trade, then I can adjust them manually from there.....you are right on the Trail by Candle feature....it trails Japanese candles.....I also use the No Loss after Pips feature in case I am not monitoring a trade.....works well for me.
Good Luck to you......
  • #9,714
  • Jan 9, 2013 9:17am Jan 9, 2013 9:17am
Quoting IvanNC
hi dee50, I'm not able to check the attachment. Could you reupload if possible? I would like to take a look at that.
Sorry. the link is not active anymore. Google "Fibonacci Trading How to Master the Time and Price Advantage" by Carolyn Boroden. I can not upload it as it is a 14Mb File. And technically it infringes copy right.
Cut your Losers short and let your Winners run.
  • #9,715
  • Jan 9, 2013 9:28am Jan 9, 2013 9:28am
Quoting marcelms
hello to everyone.I tried many systems on forex but i keep coming back to this one because i understand it and its easy to use.I have a question,is there any body hwo use 2 TF charts like in the picture.Because when i entered based on the 4h,the Tdi was sloping up but on the 1h the Tdi made a cross down and it took me out.Thank you very much.Attachment
If you want help you have to be less vague. Mark your entry and exits on the chart so that we can see what you are referring too
Cut your Losers short and let your Winners run.
  • #9,716
  • Jan 9, 2013 10:14am Jan 9, 2013 10:14am
trade today
Attached Image (click to enlarge)
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  • #9,717
  • Jan 9, 2013 11:20am Jan 9, 2013 11:20am
Note to Trading Plan....DON'T BE OVERLY CONCERNED ABOUT THE 200EMA's.....USE THEM AS A GUIDE NOT AN ABSOLUTE PRICE STOP......
On the EU today I took the "fake out" London Open candle long because it bounced off the H4 200EMA....set my EA.....went back to bed....woke up to a -16 loss.....re-entered....stopped out at BE.....I know that the LO candle is often a fake out but I concentrated on the 200EMA's instead of "trading what I see". Another lesson learned. Looking back at the chart, I could have gotten my 40 pip profit easily by trading according to my plan.
I did have a good trade on the EJ during the Asian session....the ADR on that pair is around 140 per day....good movement....so I tried a scalp trade on break back through the H1 200EMA, moved the TP up and turned a nice profit on that trade.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: 2013.1.9 ej h1.gif Size: 28 KB
  • #9,718
  • Jan 9, 2013 11:40am Jan 9, 2013 11:40am
Quoting Phx62
Note to Trading Plan....DON'T BE OVERLY CONCERNED ABOUT THE 200EMA's.....USE THEM AS A GUIDE NOT AN ABSOLUTE PRICE STOP......
On the EU today I took the "fake out" London Open candle long because it bounced off the H4 200EMA....set my EA.....went back to bed....woke up to a -16 loss.....re-entered....stopped out at BE.....I know that the LO candle is often a fake out but I concentrated on the 200EMA's instead of "trading what I see". Another lesson learned. Looking back at the chart, I could have gotten my 40 pip profit easily by trading...
Hi PHX, Dee, Vantage, Emanuelle and other experienced traders

would like to ask you a question.

What i feel is a crucial aspect to succeed in day trading is to form the right bias for the day... sometimes you see a setup for long, but you dont take it because its counter trend and you wait for a short setup to form... but you would take it if you see certain conditions like having a 123 pattern,or if the daily candle was a bulish pin bar, or if you see a double bottom with bulish divergence , etc...

What i would like to discuss is how do you form your bias for the day when you sit in your computer at London Open?
Do you decide beforehand that you are only interested in longs, or in shorts?
Or you dont do this kind of judgement at the beginning of the day?

thanks for your experienced and wise help

Example : Today at London open i had price below 200 and 50 ema, and green and red was below 50 and below MBL, so I thought that a short bias would be safer. that made me avoid the London fakey and wait for the proper short setup. Do you also have this kind of thinking process built into your trading plan?

Munir
  • #9,719
  • Jan 9, 2013 12:31pm Jan 9, 2013 12:31pm
Quoting dee50
Sorry. the link is not active anymore. Google "Fibonacci Trading How to Master the Time and Price Advantage" by Carolyn Boroden. I can not upload it as it is a 14Mb File. And technically it infringes copy right.
thanks!
  • #9,720
  • Jan 9, 2013 3:49pm Jan 9, 2013 3:49pm
Quoting dee50
This is an interesting article from the WSJ, I hope what they are saying comes true because if it does then News Trading may well become predictable again. For a couple of years I traded nothing but the news and made a damn good living from it. But it also means that the Market over all would be a bit more predictable as well.

http://www.forexfactory.com/news.php?do=news&id=404169

Thanks for posting that link dee50, interesting article alright.

Can you provide some guidance on how I could go about 'learning to' trade news, would be nice to have an additional strategy. There's plenty via google, however, without the experience of someone who's done it, done it successfully and has no agenda except to help.
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