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Another simple system - Time-Frame 15

  • #19,181
  • Jan 23, 2013 2:02am Jan 23, 2013 2:02am
Quoting Vantage
Toughie, you might have missed the boat. A 4hr chart hides a lot, good 1hr candles can straddle 2 x 4hr candles.

In general if you believe in move back up you might not be able to wait for 4hr candle to close. You need to be getting in with enough space between entry and resistance level that you can either exit in full or partially to bank some profit and to see if upper level fails.

1hr chart shows stall for 5 hours so if I traded AUD I'd already have been looking to get back in based on that and not worry that multiple good 1hr candles get...
What is more important that the current 4hr close per se. Your 4hr chart, look to the left. There is a clear support level there also 1.0530 ish. You have your 4hr ema, support level. Another reason not to overly focus on 4hr chart but to look to lower TF 1hr/15min for entry back into trend.
  • #19,182
  • Jan 23, 2013 2:39am Jan 23, 2013 2:39am
Quoting Vantage
What is more important that the current 4hr close per se. Your 4hr chart, look to the left. There is a clear support level there also 1.0530 ish. You have your 4hr ema, support level. Another reason not to overly focus on 4hr chart but to look to lower TF 1hr/15min for entry back into trend.

thk Vantage,

after view on H1 , i also found bull engulfment and it closed above 10EMA, and i also found that i miss the support line on Weekly chart too....

thk alot Vantage....
  • #19,183
  • Jan 23, 2013 3:28am Jan 23, 2013 3:28am
Hi Neewbies!
I hope that you are getting up to speed with LE1 key thoughts and trading! :-)

Here are some more guides:

1 As I said monday, don't put too much emphasis on TDI, we don't use it in main trading now

2. Read LE1 early posts, maybe just read ALL of LE1 posts only to get up to speed, there are many learnings over many mnths

3. there are some documents on the thread which will be helpful. Forexnerd pulled together some very useful files, documents of all the posts of various traders. READ the LE1 doc, also Gibril aka pat chiko, Emmanuel, X-Man, aryary etc. You will have to search for them on the thread, maybe if someone else has them then they can repost them :-)

4 Just from the first 40pp of post I have jotted down some LE1 posts you should read and think about:

MT4 indies and templates posts 5, 6, 398
General: 1, 8, 11, 12, 175, 376, 377, 432, 443
Psychology of trading: 45, 47, 84, 94, 153, 472
MAs 133, 150, 154, 251
Candlesticks 138, 165
London open 219
(this is only the first 40pp, there is a LOT more)

5 The thread is a real saga! You could make a movie of it! Understand how it shifts: Generally..
LE1 starts the thread, regulars form, gibril aka pat cHiko and others join, move away from TDi, thread accelerates exponentially, becomes wildly successful, draws naysayers, ppl who want to kill the golden goose to make their egg more valuable, politics, fallout, exposure of some ppl who leave, too much for LE1 -he leaves, the thread continues with regulars who see the value of adhering to and reinforcing the principles of the 15 min system (repition internailses and makes habit, automapping etc)

6 A key principle of LE1 was GIVING! As a philosophy and way of life. Think about how this fits in with successful trading, and the balance of fear and greed
:-)
P


Quoting peetee09
LE1 Time-Frame 15

Learning #1

First up, Read LoveEvery1 (LE1) first posts on the thread. read until KNOW what he is proposing. It may be easier JUST to read LE1 posts (50 pages? whatever it taks)


A few things to note:[list=1][*]The indicators and template you need are on the first page. (there are more tools that can be added at a later date)[*]Heiken ashi is virtually NEVER used or discussed in this thread so if you don't know it you don't need it[*]While the TDI indicator was originally an important...
  • #19,184
  • Jan 23, 2013 5:49am Jan 23, 2013 5:49am
Hope you guys are trading well today.
Any one know of any indicator that plots the daily closing prices at New York Close as a line graph? By the way, Emmanuel, tnx for pointing me in the right direction yesterday. Got the whole order script thing sorted out. You guys are all so helpful. Tnx a bunch.
  • #19,185
  • Jan 23, 2013 7:09am Jan 23, 2013 7:09am
For pkimnyc:
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  • #19,186
  • Jan 23, 2013 7:28am Jan 23, 2013 7:28am
Quoting kaka_ht
For pkimnyc:
yes, that's the basic idea.
  • #19,187
  • Jan 23, 2013 7:47am Jan 23, 2013 7:47am
I'm in +20 pips Gu now!
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  • #19,188
  • Jan 23, 2013 10:52am Jan 23, 2013 10:52am
EJ scalp. initial stop 10pips. closed manually for 57pips
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  • #19,189
  • Jan 23, 2013 12:12pm Jan 23, 2013 12:12pm
Ok I am making my way through the thread and PDF's

So if TDI isn't used much for entry/exit then what are the rules for this system?

From the original template till now it seems to have changed quite a bit from the original
  • #19,190
  • Jan 23, 2013 4:07pm Jan 23, 2013 4:07pm
Quoting jordfx
EJ scalp. initial stop 10pips. closed manually for 57pips
Hi jordfx, nice trade ! But can you explain your reasons behind this trade ? What gives you confidence for this early entry ?
  • #19,191
  • Jan 23, 2013 6:37pm Jan 23, 2013 6:37pm
Quoting jordfx
EJ scalp. initial stop 10pips. closed manually for 57pips
Hi JordFx ,

this is just base on 4 HTF bounce off 10EMA???

the BRN 118,000, and my S&R was 117,xxx was just below....

hope JordFx can clear my doubt.....
  • #19,192
  • Jan 23, 2013 8:39pm Jan 23, 2013 8:39pm
Quoting TiouK
Hi jordfx, nice trade ! But can you explain your reasons behind this trade ? What gives you confidence for this early entry ?
Maybe he based on divergence to take this trade!
  • #19,193
  • Jan 23, 2013 8:41pm Jan 23, 2013 8:41pm
Quoting Acroix70
Ok I am making my way through the thread and PDF's

So if TDI isn't used much for entry/exit then what are the rules for this system?

From the original template till now it seems to have changed quite a bit from the original
Hi Acroix,

I'll cover seven or eight different topics relating to the system, The second one i'll post Monday or Tuesday will be an overview of the main rules of the system as it is today, then each topic will delve in move detail.

I'm just giving everyone this week to read up on LE1 posts so that you can take what I say in context with LE1 comments

P
  • #19,194
  • Jan 23, 2013 10:02pm Jan 23, 2013 10:02pm
Long EJ at 117.500!I'm in 120 pips now!
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  • #19,195
  • Jan 23, 2013 11:48pm Jan 23, 2013 11:48pm
Nice setup for scapl EJ!+30 pips!
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  • #19,196
  • Jan 24, 2013 12:51am Jan 24, 2013 12:51am
Quoting kaka_ht
Long EJ at 117.500!I'm in 120 pips now!
Update my EJ long!+150 pips!
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  • #19,197
  • Jan 24, 2013 12:51am Jan 24, 2013 12:51am
Quoting kaka_ht
Long EJ at 117.500!I'm in 120 pips now!
  • #19,198
  • Jan 24, 2013 1:15am Jan 24, 2013 1:15am
Quoting TiouK
Hi jordfx, nice trade ! But can you explain your reasons behind this trade ? What gives you confidence for this early entry ?

tnx buddy. Here are my reasons for the trade. I've been following PA on this pair very closely.

1. I was biased to shorting all day from the Daily open price, because all week price always close lower than opening price. So I had been waiting since London Open for price to retrace to Daily Open Price to short if I see any confirmation signal from PA.

2. When price finally retraces, I see Divergence signal and momentum changing and LH forming.
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  • #19,199
  • Jan 24, 2013 1:22am Jan 24, 2013 1:22am
Quoting kaka_ht
Update my EJ long!+150 pips!

Very lovely trade my friend. You're nailing it! Had my chart analysis all ready for that trade but missed because I don't usually trade Asia session. Was sleeping at the time. Woke up and saw the bus had already left. Congratulations!!!
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  • #19,200
  • Jan 24, 2013 2:07am Jan 24, 2013 2:07am
EJ CT Scalp trade closed for 43pips(x 2 positions)...still expect closing price to be higher than opening price today... and red news in 24mins.
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