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Another simple system - Time-Frame 15

  • #19,741
  • Feb 13, 2013 2:16am Feb 13, 2013 2:16am
Quoting jordfx
Buddy, that chart looks suspiciously like a 5min chart though! Signal candles on 5min??? I think that can only lead to blown accounts eventually! Patience pays.


...I still think courage to make mistakes is one thing. Courage to gamble on the other hand.....
Of course you can take signal candles on the 5 min...... It's no more gambling than using a 15 minute chart.
What is any ocean but a multitude of drops?
  • #19,742
  • Feb 13, 2013 2:24am Feb 13, 2013 2:24am
This is a trade setup developing right now on EJ M15. See the CONFLUENCE around this point in time precisely at LO. Why wouldn't it be wise to jump into this trade now??? Almost the whole gang is in the house here. Divergence, BRN, Pinbar. NY close/ Daily open price, 4Hr 10ema. On the hand why would you also be convinced to take the trade now? We are not gambling. We look for high probabilty setups.
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  • #19,743
  • Feb 13, 2013 2:26am Feb 13, 2013 2:26am
Be intimidated by the fear of being average,

and then rise above it and be extraordinary.
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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #19,744
  • Feb 13, 2013 2:28am Feb 13, 2013 2:28am
Quoting Xhale12
Of course you can take signal candles on the 5 min...... It's no more gambling than using a 15 minute chart.
Hey buddy, i know we can take signal candles on 5min chart in CONFLUENCE with other factors. Just saying to highlight why the signal candle was relevant in the setup under question. Do you just trade a pinbar on M5 simply because it appeared the direction of your trade setup??? Moreover for newbies, it's been courteously requested not to post M5 charts on this thread. I take trade entries on M5 and M1 charts all the time too. But I don't post those charts on the thread as requested.
  • #19,745
  • Feb 13, 2013 2:55am Feb 13, 2013 2:55am
LIKE ARJUN SAID , we need to feel the market before taking a trade , pin will fail but not logic, be logic. On EU i m long at this moment.
  • #19,746
  • Feb 13, 2013 3:14am Feb 13, 2013 3:14am
Quoting jeank
LIKE ARJUN SAID , we need to feel the market before taking a trade , pin will fail but not logic, be logic. On EU i m long at this moment.
...take small profits. from what i see on my charts, any entries now was just good for like 23pips or so. trade safe.
  • #19,747
  • Feb 13, 2013 4:57am Feb 13, 2013 4:57am
Quoting emmanuel7788
http://www.forexfactory.com/attachme...1&d=1360727099

That was a good entry. Well done!

But you could have manage your exit better and get more pips from this volatile pair.

Because PA between 200EMA and 800EMA so I was too careful

Thank you brother
  • #19,748
  • Feb 13, 2013 1:09pm Feb 13, 2013 1:09pm
Quoting Pat Chiko
Be intimidated by the fear of being average,

and then rise above it and be extraordinary.
wow, where did you get your TDI pro indicator? looks really interesting
  • #19,749
  • Feb 13, 2013 2:29pm Feb 13, 2013 2:29pm
Don’t practice until you get it right.

Practice until you can’t get it wrong.
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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #19,750
  • Feb 13, 2013 3:12pm Feb 13, 2013 3:12pm
How many of you out there are struggling to understand price action and all that goes with it, I know I am?

I see many people entering trades on the wrong side of the market because they see setups and then enter on the same 15m chart but they end up being out of kilter with the 4h or daily charts.

Wouldn't it be easier to be looking at the 4h charts for set ups and once a set up occurs either take a trade straight from the 4h chart or drop down to the 15m chart for entry, this to my mind is far easier than continually eye balling the 15m charts and trying to work out what's happening on an higher TF.

Personally I'm more or less trading mechanically from 4h charts with a 50 pip SL, I move my SL to BE +1 at 1R and take 25% profit, I then take a further 25% at 2R 25% more at 3R and then tighten the SL and allow the remaining 25% to run.

I run it from the trade manager EA and just check my charts every four hours to see if there any more set ups.

I know this isn't as the system was intended and I've added a couple of indicators to make things more "mechanical" for me to enter a trade, but all I've tried to do is to think outside the box and make it work for me.

If you read the post by these two traders you will see that they use "mechanical" methods to get themselves into trades they cut their losses short but once into a winning position their true trading skill comes into play by getting as much from a winning position as possible. It was these posts that got me looking for a "mechanical" approach to my trading and so far it's working for me.

http://www.forexfactory.com/petercrowns
http://www.forexfactory.com/therealthing
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  • #19,751
  • Edited 1:33am Feb 14, 2013 12:06am | Edited 1:33am
Quoting stevepatt
How many of you out there are struggling to understand price action and all that goes with it, I know I am?

I see many people entering trades on the wrong side of the market because they see setups and then enter on the same 15m chart but they end up being out of kilter with the 4h or daily charts.

Wouldn't it be easier to be looking at the 4h charts for set ups and once a set up occurs either take a trade straight from the 4h chart or drop down to the 15m chart for entry, this to my mind is far easier than continually eye balling the 15m...
Very good post!




I do the same, i.e. look at my chart every 4-hour period. Look for the 4-H momentum and time your trade entry on M15.
By looking at only 5 pairs, you will get enough good trades every week.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,752
  • Feb 14, 2013 12:20am Feb 14, 2013 12:20am
14 Feb outlook:

AU :
with H4 Inside Bar, a breakout trade will be the order for today.

EU:
multiple 4-H period consolidation after the huge puillback from BRN 1.3500 also confluence with Prev W fib-r 50% when NYO yesterday. I will look for breakout trading today. The D pin bar looks interesting to pick the direction. But always have a Plan B in case Plan A fails.

Trade Well.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,753
  • Feb 14, 2013 1:27am Feb 14, 2013 1:27am
Quoting emmanuel7788
14 Feb outlook:

AU :
with H4 Inside Bar, a breakout trade will be the order for today.

EU:
multiple 4-H period consolidation after the huge puillback from BRN 1.3500 also confluence with Prev W fib-r 50% when NYO yesterday. I will look for breakout trading today. The D pin bar looks interesting to pick the direction. But always have a Plan B in case Plan A fails.

Trade Well.

EU nice breakout when FO.
who caught that?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #19,754
  • Feb 14, 2013 1:35am Feb 14, 2013 1:35am
Quoting emmanuel7788
EU nice breakout when FO.
who caught that?
  • #19,755
  • Feb 14, 2013 2:03am Feb 14, 2013 2:03am
Quoting emmanuel7788
EU nice breakout when FO.
who caught that?
Nah but sold EJ at 47. 1hr double top, shooting star closed lower than previous candle to set up the trade.
  • #19,756
  • Feb 14, 2013 2:06am Feb 14, 2013 2:06am
Quoting Pat Chiko
You need to have sufficient courage to make mistakes.

Disappointment, defeat, and despair are the tools life uses to show you the way.
I hate to see this thread turn negative. Putting Gibril the newbie as background to your charts just seems you are determined to p*ss people off.

You are outta here mate and you can take up with the powers that be.
  • #19,757
  • Feb 14, 2013 2:33am Feb 14, 2013 2:33am
Quoting Vantage
I hate to see this thread turn negative. Putting Gibril the newbie as background to your charts just seems you are determined to p*ss people off.

You are outta here mate and you can take up with the powers that be.
Lol

What is any ocean but a multitude of drops?
  • #19,758
  • Feb 14, 2013 2:52am Feb 14, 2013 2:52am
Quoting Vantage
Nah but sold EJ at 47. 1hr double top, shooting star closed lower than previous candle to set up the trade.

One of the things the (legendary) Islander taught me was that Frankies hour often has a half hour reversal. Giving a nice 50 pip run down to the RN/W pivot.
  • #19,759
  • Feb 14, 2013 3:03am Feb 14, 2013 3:03am
Hi,i have been using loveevery1 system.Took this trade today GBPUSD at the open of the london session but it went against me.

the candle closed below the 10 ema

the green and red crossed below the yellow line.

i saw it as a sell signal and went short but it hit my sl.

can anybody correct me where i went wrong.

thanks in advance.
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  • #19,760
  • Feb 14, 2013 3:22am Feb 14, 2013 3:22am
Quoting philemon123
Hi,i have been using loveevery1 system.Took this trade today GBPUSD at the open of the london session but it went against me.

the candle closed below the 10 ema

the green and red crossed below the yellow line.

i saw it as a sell signal and went short but it hit my sl.

can anybody correct me where i went wrong.

thanks in advance.
general direction is down, but with small SL 20pips, you don't survive the M15 noise especially when there support with the BRN 1.5500 and Prev-W Fib-r 161% CONFLUENCE right below when LO. H4 close MARUBOZU, so it is the BOUNCE thingy that you can scalp.

Market outlook is that GBP is weak after what BoE said this week.
Euro also wants to be weak or else recovery will be difficult.
Japan want a weaker JPY to boost their export.
In times of currency crisis, where do investors turn to?
BUY the safe haven .... USD as usual.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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