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Another simple system - Time-Frame 15

  • #19,281
  • Jan 28, 2013 1:30pm Jan 28, 2013 1:30pm
Quoting jordfx
Closed my recent EJ trades for 51pips(2 positions). One losing trade. Was trying my hand at hedging. hehehe. Got burned. My Account is up 45% today alone. And the day is still young. hehehe..... Account and Equity details are on my trade explorer account statements on my profile page. Check it out.
Hi jordfx,
Why did you delete your trade explorer ?
  • #19,282
  • Jan 28, 2013 2:04pm Jan 28, 2013 2:04pm
Quoting TiouK
Hi jordfx,
Why did you delete your trade explorer ?
It was a demo account, time limited by the broker I think. Couldn't place orders again today after a while. Anyway trying to hook up a live account to the explorer soon.
  • #19,283
  • Jan 28, 2013 10:32pm Jan 28, 2013 10:32pm
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...
Dear Vnfx,
Thanks for sharing your chart.
I would like to know (request) how u draw the Multi color MA line?
(I mean red, green , yellow depend on the trend)
If possible, share with us.
Appreciated.
allhappy
  • #19,284
  • Jan 29, 2013 12:26am Jan 29, 2013 12:26am
Quoting allhappy
Dear Vnfx,
Thanks for sharing your chart.
I would like to know (request) how u draw the Multi color MA line?
(I mean red, green , yellow depend on the trend)
If possible, share with us.
Appreciated.
allhappy
Here you are mate!
You can search for all kinds of indicators available in this thread by clicking to the clip on the upper right conner of the page and then click hide the image.
Attached File(s)
File Type: ex4 MA in Color.ex4   3 KB | 408 downloads
Accept as it is being!
  • #19,285
  • Jan 29, 2013 1:20am Jan 29, 2013 1:20am
Quoting Vnfx
Here you are mate!
You can search for all kinds of indicators available in this thread by clicking to the clip on the upper right conner of the page and then click hide the image.
Got it.
Thanks again
allhappy
  • #19,286
  • Jan 29, 2013 4:35am Jan 29, 2013 4:35am
super super slow morning. I'm out until tomorrow.
take care


if anyone is interested in pair/group trading over teamviewer (screen sharing/voip/messging,etc application). I'd love to get a little group going.
just pop me a PM and I'll sent you the meeting invitation code

i'll be online from 7am london time.
while the objective is profit, the job description is risk management
  • #19,287
  • Jan 29, 2013 4:42am Jan 29, 2013 4:42am
Hi everyone,

Is there any overview of EU for this week?? the sentiment seems to be bulish, right??
  • #19,288
  • Jan 29, 2013 4:53am Jan 29, 2013 4:53am
Quoting rober159
super super slow morning. I'm out until tomorrow.
take care


if anyone is interested in pair/group trading over teamviewer (screen sharing/voip/messging,etc application). I'd love to get a little group going.
just pop me a PM and I'll sent you the meeting invitation code

i'll be online from 7am london time.
sure why not
  • #19,289
  • Jan 29, 2013 4:58am Jan 29, 2013 4:58am
EU week 05

Quoting Helee
Hi everyone,

Is there any overview of EU for this week?? the sentiment seems to be bulish, right??

here is my technical view done earlier.
Attached Image (click to enlarge)
Click to Enlarge Name: EU H4 Week 05 29 Jan 29-1-2013 8-48-38 AM.png Size: 36 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,290
  • Jan 29, 2013 5:30am Jan 29, 2013 5:30am
LE1 Time Frame 15

Learning #2

Ok Here it is newbies! LoveEver1's system. To my knowledge it has not been explicitly laid out before so it is my interpretation, others please add your comments, additions or corrections, it is a live document! :-)

This learning is a summary of the basic system. I am trying to get everyone at numerous levels up to speed and successful as soon as possible, so the next learnings posted will be:
#3 money management
#4Trading, timing and timeframe
#5 MAs
#6 S/R
#7 price action/candlesticks
#8 TP/stops

Ok
LE1 15 minute system is as follows imho;

  1. It is a combination of S/R levels, Moving averages and price action
  2. MAs are primarily used to broadly determine direction (up/down/flat) and secondarily with pa as setup for a trade
  3. The 10 SMA DAILY is the prime measure, and the 10SMA is reflected in each timeframe viewed (ie in 15 min chart is it approximately 800MA)
  4. The timeframes viewed are : Daily, 4 hourly, hourly and 15min. LE1 specifically forbade using the 5min chart! And asked ppl to remove it (too many false signals)
  5. For simplicity the MAs used on each time frame chart are 800SMA, 200, 50 and 10SMA (more on these later)
  6. When price is below the 200MA 15min look to short, when price is above the 200MA 15 min look to long
  7. Look for a reaction against key S/R
  8. The Support Resistance used by LE1 is: Big Round Number (BRN), ADR high/low. Secondary S/R is rejection of the 50MA or 200 or 800MA. In fast mkts rejection of 10Ma also works. Break of chart s/r and failed retest is also used. Other S/R measures have been added over time with group consensus, and mainly introduced by Emmanuel, these are: Main fibonacci retracement 0.382, 0.5 (ok not a fib numbr), 0.618; yesterday high and low
  9. Use pa particularly candllestick patterns to identify rejection of a level, particularly use pinbars
  10. Trade only the opening few hours of the LONDON session and opening few hours of USA session (high liquidity)
  11. Each day/session you trade, first look at the DAILY and 4 Hourly charts for direction (up, down flat (each impulse or corrective). Look also for high time frame PA signals such as pinbar of S/R (this will dictate short teerm trends)
  12. Use the one hour chart to identify trading setups based on price relative to MAs, price action relative to S/R
  13. Use the 15 min chart for entry and trading.
  14. With a price breakout wait for a pa CONFIRMATION through a retest and fail of the previous level and or MA, or through candle patterns such as doji. Ideally the rejection should be from key S/R not just an MA
  15. Enter on the 15 min close of the trigger bar
  16. The trade shold align with the MAs, eg if price is below 200Ma on 15min, look for short, and price at entry should also be below 800Ma and 50MA
  17. By waiting for a confirmation and fail of a level stops can be placed CLOSE. LE1 liked stops less than 15 pip, ideally 10pip
  18. Take profit. The more adventurious might aim for S/R targets such as BRN or ADR hi/Low and other s/r, but also use pa and candlestick patterns to identify end of run
  19. LE1 typically took quick profits, approx 15-25 pips. This allowed him very high success rate. He would take only the best trade, wait patiently for the best, close stops, high probability enabling somewhere near 90% success.
  20. Be in-the-zone, be mentally neutral, have no opinion of direction, follow the price action
  21. Trade only 1-3% of your account on any trade

More detail in a few days
:-)
P

Quoting peetee09
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,...
  • #19,291
  • Jan 29, 2013 5:31am Jan 29, 2013 5:31am
Quoting Vantage
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...
NoNoNo....u had no harsh word moreover everything u done here all is good for us (newbie)....

this misstake i will remember....Timing, R&S , and PRv Fib 127 level....

thk Vantage and Emmanuel....

hope both of u can continue help us......
  • #19,292
  • Jan 29, 2013 5:33am Jan 29, 2013 5:33am
Quoting rober159
super super slow morning. I'm out until tomorrow.
take care


if anyone is interested in pair/group trading over teamviewer (screen sharing/voip/messging,etc application). I'd love to get a little group going.
just pop me a PM and I'll sent you the meeting invitation code

i'll be online from 7am london time.
I'd be interested also,
  • #19,293
  • Jan 29, 2013 5:37am Jan 29, 2013 5:37am
Quoting emmanuel7788
EU week 05




here is my technical view done earlier.
Here is mine trade.... can Emmanuel give some comment???
Attached Image(s) (click to enlarge)
Click to Enlarge Name: daily.gif Size: 35 KB
Click to Enlarge Name: 4h.gif Size: 30 KB
Click to Enlarge Name: 1h.gif Size: 24 KB
Click to Enlarge Name: 15m.gif Size: 33 KB
  • #19,294
  • Jan 29, 2013 5:41am Jan 29, 2013 5:41am
Quoting emmanuel7788
EU week 05




here is my technical view done earlier.

Thx Emmanuel778,

I was counting on you

Isnt that a "lost baby" on the 27/01 on D1 Chart?? that is a bear CS pattern, no??

Thx

Helle
  • #19,295
  • Jan 29, 2013 5:51am Jan 29, 2013 5:51am
my EJ ,

can someone can help me have a look....????

thk in advance....
Attached Image(s) (click to enlarge)
Click to Enlarge Name: daily.gif Size: 23 KB
Click to Enlarge Name: 4h.gif Size: 29 KB
Click to Enlarge Name: 15m.gif Size: 35 KB
  • #19,296
  • Jan 29, 2013 6:16am Jan 29, 2013 6:16am
Quoting Helee
Thx Emmanuel778,

I was counting on you

Isnt that a "lost baby" on the 27/01 on D1 Chart?? that is a bear CS pattern, no??

Thx

Helle
Hi Helee,

"lost baby" ... that's funny name. Anyway, 27Jan is Sunday candle, some may see this and some don't see this candle depends on broker server time.

But 1.3470 is a strong historical resistance (also supply zone) and I am counting on that for a bearish correction on H4. Never know if that work out into a reversal.

Be careful this week as there is big play in JPY and this will affect EUR too.

Trade Well!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,297
  • Jan 29, 2013 6:18am Jan 29, 2013 6:18am
Quoting peetee09
LE1 Time Frame 15

Learning #2

Ok Here it is newbies! LoveEver1's system. To my knowledge it has not been explicitly laid out before so it is my interpretation, others please add your comments, additions or corrections, it is a live document! :-)

This learning is a summary of the basic system. I am trying to get everyone at numerous levels up to speed and successful as soon as possible, so the next learnings posted will be:
#3 money management
#4Trading, timing and timeframe
#5 MAs
#6 S/R
#7 price action/candlesticks
#8...
Good work and contribution. I LIKE
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,298
  • Jan 29, 2013 6:20am Jan 29, 2013 6:20am
Quoting lowweiting
Here is mine trade.... can Emmanuel give some comment???

I give you this .
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,299
  • Jan 29, 2013 6:25am Jan 29, 2013 6:25am
Quoting lowweiting
my EJ ,

can someone can help me have a look....????

thk in advance....
H4 view:

http://www.forexfactory.com/attachme...1&d=1359460254

Let's see if the correction can hit Prev W fib-r 38% or 120.35.

Be careful this week with JPY as Merkel and Abe are both protective of the valuation of own currency.
I will manage tight don't give back too much.

Trade Well.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,300
  • Jan 29, 2013 6:26am Jan 29, 2013 6:26am
Quoting emmanuel7788
Hi Helee,

"lost baby" ... that's funny name. Anyway, 27Jan is Sunday candle, some may see this and some don't see this candle depends on broker server time.

But 1.3470 is a strong historical resistance (also supply zone) and I am counting on that for a bearish correction on H4. Never know if that work out into a reversal.

Be careful this week as there is big play in JPY and this will affect EUR too.

Trade Well!
Thx, it can be seen big correlations between the jpy and Eu pairs.

Here is what a meant.. not lost (abandoned) baby, but an evening star or a an evening doji star.

But as you said, formed on a sunday, don't know about its relevance..
Attached Image
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