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Another simple system - Time-Frame 15

  • #19,261
  • Jan 25, 2013 4:49am Jan 25, 2013 4:49am
Quoting jordfx
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.

Thank you for the explanation jordfx.

I have still a long way to go...
  • #19,262
  • Jan 25, 2013 5:04am Jan 25, 2013 5:04am
Quoting Turbobzik
Hi Jordfx ,
why did you decideto entry here ? because 1h was pinbar ? and Could you give me your indi (forex news) ? thx
Hey buddy. Here's the News Indy attached. On that pair, Everyone has been scrambling to buy since yesterday! Why wouldn't you???

That entry was after Asia. If Asia didn't support the yen much, who will? Buy baby!!!
Attached File(s)
File Type: mq4 SonicR FFCal Panel (Black).mq4   50 KB | 435 downloads
  • #19,263
  • Jan 25, 2013 5:34am Jan 25, 2013 5:34am
Quoting jordfx
Hey buddy. Here's the News Indy attached. On that pair, Everyone has been scrambling to buy since yesterday! Why wouldn't you???

That entry was after Asia. If Asia didn't support the yen much, who will? Buy baby!!!
Thanks buddy!!! , I play on EUR/USD ,GBP/USD but I have to strat play YEn
  • #19,264
  • Jan 25, 2013 8:51am Jan 25, 2013 8:51am
Euro is about to pop.
  • #19,265
  • Jan 25, 2013 8:59am Jan 25, 2013 8:59am
Quoting pkimnyc
Euro is about to pop.
I took nzdjpy instead....
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #19,266
  • Jan 25, 2013 10:17am Jan 25, 2013 10:17am
today my only trade but Fail ...in Asia Session ....

any experience trader can have a look ????
Attached Image (click to enlarge)
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  • #19,267
  • Jan 25, 2013 10:48am Jan 25, 2013 10:48am
Quoting lowweiting
today my only trade but Fail ...in Asia Session ....

any experience trader can have a look ????
I am not experienced but, it fail in Frankfurt Open... one hour before London Open, i
JacekPreserve Precious Capital
  • #19,268
  • Jan 25, 2013 1:33pm Jan 25, 2013 1:33pm
Quoting lowweiting
today my only trade but Fail ...in Asia Session ....

any experience trader can have a look ????
Quoting pkimnyc
That looks to me very late sell. Be careful with bull divergence.
that's the danger part of going against momentum.
  • #19,269
  • Jan 25, 2013 3:06pm Jan 25, 2013 3:06pm
Quoting wizard99
Question to the seniors here?.

How many charts do you follow and how do you stay on top of what is going on ?
I find I spend alot of time jumping around between currencies looking for opportunities.

Does anyone have a system to be able to monitor the pairs they follow efficiently ?

Thanks
3-4 pairs.

being able to monitor: you can have a trading buddy that you trust.
  • #19,270
  • Jan 25, 2013 8:22pm Jan 25, 2013 8:22pm
Quoting lowweiting
today my only trade but Fail ...in Asia Session ....

any experience trader can have a look ????

if you are day trading, you must observe the market session hours and the characteristics of GBPxxx pairs. Moreover there was big news GDP data release release in the UK, so stay out until the dust settles and the usual 'freaky Friday' market thingy.

what happened to your usual top down analysis approach? and where are your closest S&R and confluence of S&Rs?

you took notice of the previous D low, but you overlook the RN and also the Prev week fib 127% ... pretty obvious CONLFUENCE there. Selling into Support is never a good idea. When swing trading, small stops won't work.

and when you look at all the short term correlation of the USD pairs, something really is stinks.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,271
  • Jan 25, 2013 10:08pm Jan 25, 2013 10:08pm
Classical Basic Setup

There are 2 very good setups on AU Friday which make the LE1's method of 80% winning trades.
These are what Master Arjun call Classical Basic Setup. Price below 200EMA, below 50EMA, below 10EMA, and RN. The first vertical line is the ideal entry (after LO) with a nice pinbar rejected from Yesterday Low & Weekly 10EMA while the second vertical line (after NYO) are ideal re-entry with a pinbar rejected from Asian Session Low (support turned into resistance). Both setups have been confirmed by Arjun candles and TDI.

I wish I could patient enough to only take those kinds of setup.

Newbies can't burn their accounts if take only these setups.
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Accept as it is being!
  • #19,272
  • Jan 26, 2013 1:21am Jan 26, 2013 1:21am
Quoting lowweiting
today my only trade but Fail ...in Asia Session ....

any experience trader can have a look ????

Hi lowweiting

I don't want to come across as sounding harsh but haven't you posted several trades taken around this time, all losers and you are asking experienced traders to comment?

If you carry on repeating the same mistakes you'll end up with the same results and you won't like it.

On 24th there was a big hammer around US open, it tried to go lower again and was immediately rejected so you know there is some interest around these levels. You sell on 25th, fair enough, and have a morning star pattern at a level of proven interest and let a stop get hit?

The two crucial issues you need to understand are support and resistance and trend. You got a decent entry from one and ignored the other. Next you need to have a reasonable grasp of the likely size of moves in the TF you are trading.

There is no point in posting another failed trade at a SR level and asking why it failed. You got entry with enough space to get to BE ahead of the support level.

Again not wanting to sound harsh but this is a lesson you need to learn pretty quick. People here give their help freely there does come a point where you need to listen to it.

Approach every trade with the ideas of what session am I trading and what are likely moves, where are SR levels, if I'm in a trade what will I do when we reach that SR level?
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  • #19,273
  • Jan 26, 2013 3:58pm Jan 26, 2013 3:58pm
The Best Way to Learn Is to Teach

On average, we remember only 5% of what we hear, 10% of what we read, 20% of audio/visual material, 30% of a demonstration, 50% of a discussion, 75% of what we do ourselves, and 90% of what we teach.

“Inspiration usually comes during work, rather than before it.” ~ Madeleine L'Engle

https://fbcdn-sphotos-g-a.akamaihd.n...19580058_n.jpg
  • #19,274
  • Jan 26, 2013 7:53pm Jan 26, 2013 7:53pm
Quoting Vnfx
Classical Basic Setup

There are 2 very good setups on AU Friday which make the LE1's method of 80% winning trades.
These are what Master Arjun call Classical Basic Setup. Price below 200EMA, below 50EMA, below 10EMA, and RN. The first vertical line is the ideal entry (after LO) with a nice pinbar rejected from Yesterday Low & Weekly 10EMA while the second vertical line (after NYO) are ideal re-entry with a pinbar rejected from Asian Session Low (support turned into resistance). Both setups have been confirmed by Arjun candles...
Those are very good setups.
  • #19,275
  • Jan 27, 2013 12:54am Jan 27, 2013 12:54am
Quoting Vantage
Mrs V just phoned to confirm exited EJ for +50. These are my charts at work will post correct entry/exit later.

Strong uptrend as assessed 6.30 gmt. On a Fri she looks at charts a little earlier but has been sick all week and I think this is first trade of week (could be wrong there but don't think so). OK 1hr has moved up this morning, no real retrace in Frankies hour, entry just above 121.50 level with the 15 min engulfing closes (see arrows up).

Out at +50 when the move above R1/RN looking like failing after a big run up today. For not even...
I did say I'd post chart.
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  • #19,276
  • Jan 27, 2013 3:09pm Jan 27, 2013 3:09pm
Hi guys
Just want to say even though I trade slightly differently now I still have 10EMA and 200EMA on my charts.
Keep the green pips coming
In trading, you have to be defensive and aggressive at the same time
  • #19,277
  • Jan 28, 2013 5:36am Jan 28, 2013 5:36am
Hey Davit,

Care to share your differences?

W99
  • #19,278
  • Jan 28, 2013 6:16am Jan 28, 2013 6:16am
Quoting wizard99
Hey Davit,

Care to share your differences?

W99

Hi wizard,

While you wait for Davit to reply your question, you can click on the his "Posts" and follow where he has been posting and sharing his knowledge.


Regards,
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,279
  • Jan 28, 2013 11:27am Jan 28, 2013 11:27am
Quoting wizard99
Hey Davit,

Care to share your differences?

W99
Hi W99
What I found so far year of trading that any decent system can generate profits.This thread is really great and system is solid.
What is challenging is working on mental aspects of trading.Emmanuel many times emphasized that.
Lot of traders always want to know good entry but seldom think about when to exit.For example last week I was short AU and NU and great areas 8440 and 1057 and guess what after holding the trades for 2days I closed both with -20pips only to see both drop over 100pips each.My original TP was hit.
That is what I am talking about mental aspects.I am still honing that area.
I don't trade systems anymore I trade confluences of many things mainly harmonic patterns,Fib ratios, S/R zones and basic order flow.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #19,280
  • Jan 28, 2013 1:06pm Jan 28, 2013 1:06pm
Thx Davit and Emmanuel,

W99
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