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Another simple system - Time-Frame 15

  • #19,461
  • Jan 31, 2013 5:40pm Jan 31, 2013 5:40pm
Quoting emmanuel7788
very good point made by pkimnyc.

here a picture may explain what I saw yesterday open.

when I see a strong D close, I would look for follow through the next day.
but I only look for a good entry on a pullback or retracement to 38% and 50%.
yesterday was a 200EMA bounce opportunity on GU for those faithfully stick to this 10/50/200/800EMA on M15 chart TF.
very good point, and oh my goodness... there was an entry candle right off the 200 ma 15min chart.
  • #19,462
  • Jan 31, 2013 5:43pm Jan 31, 2013 5:43pm
Quoting fxrobinhhood
I see. Maybe I am sticking too much to the emas and forgetting the whole picture.
Of course, I try to look at the trend line as well but I guess I have to put all the jigsaw together.
The sl was becuz I have burned a coulple of account mostly becuz of big sl or overtrading.
thanks for the feedback and help.
I guess I should go on silently. The posting and feedback helps more than silent reading.
What I always do before every session is look at the chart naked.... Plot out supply/demand zones, look at the bigger picture, etc... Only after that do I add MA's and pivots to the chart.
What is any ocean but a multitude of drops?
  • #19,463
  • Jan 31, 2013 5:43pm Jan 31, 2013 5:43pm
Quoting pkimnyc
take a look at consolidation zone. at the bottom of consolidation, 3 bars with lower wicks. what does that tell you?

and demand zones at the bottom of the range... should give you a clue.

that basically was the same case with geppy anyway.
Hi Pkimnyc,

Can you please give us the details of the consolidation zone, how we go about to identify them, and about the 3 bars with lower wicks, what does it tell us?

Thx for your support.

Helee
  • #19,464
  • Jan 31, 2013 5:53pm Jan 31, 2013 5:53pm
Lots of money to be made here guys
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 37 KB
What is any ocean but a multitude of drops?
  • #19,465
  • Jan 31, 2013 5:56pm Jan 31, 2013 5:56pm
Trade Management:

Many traders struggles with open trades and have to fight the beast inside ... the fear and the greed factors always difficult to deall with.
My way to deal with my beast is to let trade manager do my job and I live my live doing other things like writing and posting in forums.

Here is an example of my EJ trade taken when NYO and I went to bed. The MPTM EA trade manager will move my stops for me.
Use of Jumping Stop is a nice feature when market is trending .
Attached Image (click to enlarge)
Click to Enlarge Name: MPTM Trade Manager.png Size: 32 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,466
  • Jan 31, 2013 5:58pm Jan 31, 2013 5:58pm
Quoting emmanuel7788
very good point made by pkimnyc.

here a picture may explain what I saw yesterday open.

when I see a strong D close, I would look for follow through the next day.
but I only look for a good entry on a pullback or retracement to 38% and 50%.
yesterday was a 200EMA bounce opportunity on GU for those faithfully stick to this 10/50/200/800EMA on M15 chart TF.
Thx emmanuel7788, Your print screens speaks more than a thousand words. You have been insisting on those 38 and 50% pullback, very soon will start be part of our brain. thank you for that. Theu«y seem to work on every TF, right?? Thx
  • #19,467
  • Jan 31, 2013 6:07pm Jan 31, 2013 6:07pm
Quoting fxrobinhhood
I see. Maybe I am sticking too much to the emas and forgetting the whole picture.
Of course, I try to look at the trend line as well but I guess I have to put all the jigsaw together.
The sl was becuz I have burned a coulple of account mostly becuz of big sl or overtrading.
thanks for the feedback and help.
I guess I should go on silently. The posting and feedback helps more than silent reading.

Hi fxrobinhood,

I read your posts and I think you realise some of your problems.
Knowledge overload is a danger for some traders wanting to leanr and know so much and cannot apply them all in the right moment.

To resolve this quickly, you need to zoom into fewer type of technical setups. Limit yourself to 5 type of setups for a start and focus only in these 5 setups.

Looking at too many currency pairs is also a problem for some traders. Just stick to not more than 5 pairs. I gave up on GJ many years, becasue there are other better pair to trade with. This should prevent overtrading when you are tempted by so many setups in many pairs.

Learn position sizing. Whether the techanical setup show you a initial SL of 20 pips or 100pips, the Risk for that trade remains the same. It is about position sizing in the Money Management strategy you use. Grow your capital slowly and achieve a consistent win rate of above 50% then I will share with you other Money Management system which will compound the equity growth. That requires a lot of work. It wont come easy.

Keep Focus!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,468
  • Jan 31, 2013 6:08pm Jan 31, 2013 6:08pm
Quoting Helee
Hi Pkimnyc,

Can you please give us the details of the consolidation zone, how we go about to identify them, and about the 3 bars with lower wicks, what does it tell us?

Thx for your support.

Helee
here you go.
Attached Image (click to enlarge)
Click to Enlarge Name: euro_10_18.gif Size: 29 KB
  • #19,469
  • Jan 31, 2013 6:20pm Jan 31, 2013 6:20pm
Quoting pkimnyc
here you go.
Well, if I read it correctly, those 3 bear candles means that there are sellers, but then buyers came in and were more stronger than the sellers thats why those candles kept long lower wicks. correct?? thx
  • #19,470
  • Jan 31, 2013 6:24pm Jan 31, 2013 6:24pm
Quoting Helee
Well, if I read it correctly, those 3 bear candles means that there are sellers, but then buyers came in and were more stronger than the sellers thats why those candles kept long lower wicks. correct?? thx
exactly, that's how you know if there is a rejection or not.

btw, be careful with longs with euro, we just had a breakout in asia when there isn't enough volume. that usually is a red flag.
  • #19,471
  • Jan 31, 2013 6:25pm Jan 31, 2013 6:25pm
Quoting fxrobinhhood
I see. Maybe I am sticking too much to the emas and forgetting the whole picture.
.....
You only need to use the same one 10EMA on all TFs - D, H4, H1 and M15.... and learn Price Action and apply that.
So easy to say but there are so much you must know. Don't overload yourself with too much information.

Remember the story of the Trutles traders?
They started with only 1 moving average, then 2 .. that is the simplicity in trading system. What made money for them?
Read this short story.

But, do you know that they also lost money after years of huge success.
Attached File(s)
File Type: pdf turtles.pdf   409 KB | 1,032 downloads
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,472
  • Jan 31, 2013 6:26pm Jan 31, 2013 6:26pm
Quoting pkimnyc
exactly, that's how you know if there is a rejection or not.

btw, be careful with longs with euro, we just had a breakout in asia when there isn't enough volume. that usually is a red flag.

ahead of NFP ? that smells....LOL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,473
  • Edited 6:44pm Jan 31, 2013 6:34pm | Edited 6:44pm
Quoting emmanuel7788
ahead of NFP ? that smells....LOL
Best time to manipulate price, for them, is now. When its quite. They often do this to trap bulls, get them excited, then wham, they reverse and take bulls money. Sneaky, bastards if you ask me. Lol

in the beginning of a trend, it's ok. but we've had quite a few runs. time for some pullbacks maybe... let's see.
  • #19,474
  • Jan 31, 2013 6:44pm Jan 31, 2013 6:44pm
Quoting emmanuel7788
You only need to use the same one 10EMA on all TFs - D, H4, H1 and M15.... and learn Price Action and apply that.
So easy to say but there are so much you must know. Don't overload yourself with too much information.

Remember the story of the Trutles traders?
They started with only 1 moving average, then 2 .. that is the simplicity in trading system. What made money for them?
Read this short story.

But, do you know that they also lost money after years of huge success.

I really hope you guys that gives us your time and your experience to teach us, really find joy in his journey.

Thank you.
  • #19,475
  • Jan 31, 2013 6:46pm Jan 31, 2013 6:46pm
Thanks a lot, appreciate it.

Prosperous regards.

Quoting pkimnyc
here you go.
  • #19,476
  • Jan 31, 2013 6:52pm Jan 31, 2013 6:52pm
Quoting lowweiting
little bit confuse.....about 4H 10EM and 15M 200EMA

can anyone help me ???
MHO, as I see you draw 2 circles on your chart where they both work thus we should trust both and jump in as soon as they all agree together with PA.
Accept as it is being!
  • #19,477
  • Jan 31, 2013 9:01pm Jan 31, 2013 9:01pm
Quoting Helee
I really hope you guys that gives us your time and your experience to teach us, really find joy in his journey.

Thank you.

Hi Helee,

Price Action trading is also use of Candlestick patterns to interpret market sentiments.

H4 and D Inside Bar are good indication of consolidation. I trade the breakouts of after consolidation.

Here is yesterday' EJ example. You will see more details in M15 chart for fine tuning and timing an entry and look for a classic 10EMA type entry.

We don't not need to pick top and bottom of a trend for entry, we just need to see potential breakout and enter on the price momentum. This way, out initial SL is seldom threaten after entry and we will be less stress when we look at our charts all the time.
My way is ... don't look at chart after entry. Let your trade manager do the work for you. You focus in looking for high probablility setups and timing your entry.

regards,
Attached Image (click to enlarge)
Click to Enlarge Name: EJ 31 Jan H4 IB .png Size: 37 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,478
  • Jan 31, 2013 10:26pm Jan 31, 2013 10:26pm
Quoting emmanuel7788
Hi Helee,

Price Action trading is also use of Candlestick patterns to interpret market sentiments.

H4 and D Inside Bar are good indication of consolidation. I trade the breakouts of after consolidation.

Here is yesterday' EJ example. You will see more details in M15 chart for fine tuning and timing an entry and look for a classic 10EMA type entry.

We don't not need to pick top and bottom of a trend for entry, we just need to see potential breakout and enter on the price momentum. This way, out initial SL is seldom threaten after...
Hi Emmanuel,

below chart is 15M of 4H IB...( ur chart IB )....i still not really understand how to u trade break of mother bar ....can show us (newbie)???

really wan know the answer.... thk Emmanuel
Attached Image (click to enlarge)
Click to Enlarge Name: 15m.gif Size: 39 KB
  • #19,479
  • Jan 31, 2013 10:43pm Jan 31, 2013 10:43pm
FXrobinhood

A few general pointers. (just my opinion trying to help :-))


Don't over-trade, just choose the BEST setups. Learn to stand aside and wait
I suggest that you start with trades with the overall trend (4 hrly), CT trades can be more choppy and shorter runs
I suggest that initially you stay away from the crosses and trade, say, EUR. Crosses have wider spreads and can be more tricky, get to know 1-3 pairs well
Don't buy the breakout buy the failed retest of the breakout
Look for CONFLUENCE, not just of MA's but BRN, ADR, Fib etc
Try not to trade when price is between the MAs (this means that market has less momentum and may be in corrective mode). Look for trades that have momentum under way
DISCIPLINE, DISCIPLINE
Reduce your position size until you get higher proportion of winning trades
You WILL get there if you can adjust and learn as necessary, it is as much about psychology as a system

:-)
P



Quoting fxrobinhhood
I ve added more details on the screenshot. EJ after London Open.


Attachment
  • #19,480
  • Jan 31, 2013 11:39pm Jan 31, 2013 11:39pm
Quoting pkimnyc
Best time to manipulate price, for them, is now. When its quite. They often do this to trap bulls, get them excited, then wham, they reverse and take bulls money. Sneaky, bastards if you ask me. Lol

in the beginning of a trend, it's ok. but we've had quite a few runs. time for some pullbacks maybe... let's see.
Sneaky bastards eh? hehehehe! Well...tell them I took all their money while they were busy setting the traps. Closed trade manually at 125.500 for 177pips. Added positions moved stops at every BRN. Account up 50% on that trade alone.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.gif Size: 43 KB
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