Another simple system - Time-Frame 15 | Page 990 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Multi time frame Simple MACD system 824 replies

Time Frame Vs Personality, Which to choose as Main Time Frame? Who Are You? 10 replies

Multiple Time Frame Trading: In a divergence, which frame dictates? 6 replies

Time frame and Enter/Exit, Time frame and S/L, T/P relationships. 91 replies

Question on Lower Time Frame Indicators Vs. Longer Time Frame 7 replies

Attachments: Another simple system - Time-Frame 15
Exit Attachments

Another simple system - Time-Frame 15

  • #19,781
  • Feb 15, 2013 4:22am Feb 15, 2013 4:22am
OK HI AND THANK, steve. If u dont mind can we get all ur indi please and a good explanation on how u use them on a 4h chart. I think ur very logic and simpler. Ur view is a good explanation of what arjun said about daily,4h set up and then 15mn. Or if u want i pm you. I agree with you.

Quoting stevepatt
Hi Tieutri,

This method of trading relies heavily on what the higher TFs are doing so why not just watch the 4h TF for set ups?

Take a look at the chart below and ask yourself where you would rather be entering the market on a 4h chart?

This is what I was trying to express in my earlier post about watching the 4h TF for set ups and then dropping down to the 15m chart for entries. By watching the 4h charts you only have to check them every 4 hours and once you find a good 4h set up you can enter on the 15m TF with much more confidence.
  • #19,782
  • Feb 15, 2013 4:30am Feb 15, 2013 4:30am
Quoting jeank
OK HI AND THANK, steve. If u dont mind can we get all ur indi please and a good explanation on how u use them on a 4h chart. I think ur very logic and simpler. Ur view is a good explanation of what arjun said about daily,4h set up and then 15mn. Or if u want i pm you. I agree with you.
ok sorry all, steve please sorry again i have all the indi in ur new thread. Thanks and sorry
  • #19,783
  • Feb 15, 2013 5:18am Feb 15, 2013 5:18am
Quoting jeank
ok sorry all, steve please sorry again i have all the indi in ur new thread. Thanks and sorry
That's an experiment I'm running to see if it is possible to "mechanically" enter trades. The important thing is how the trade is managed once it has been triggered.
  • #19,784
  • Feb 15, 2013 8:50am Feb 15, 2013 8:50am
hi,thanks for your replys.

i took this trade today with the system.with 20 pip sl and 20 pip tp,the trade went 15 pips in my direction.

i moved the stop loss to BE,it came all the way back and hit my stop loss.

i wanted to know how to use this system to know when to exit,how can i know it is a failed trade so that i get out with a small profit,or a small loss.

thanks for your replys.
Attached Image (click to enlarge)
Click to Enlarge Name: pic.gif Size: 16 KB
  • #19,785
  • Feb 15, 2013 9:24am Feb 15, 2013 9:24am
Quoting philemon123
hi,thanks for your replys.

i took this trade today with the system.with 20 pip sl and 20 pip tp,the trade went 15 pips in my direction.

i moved the stop loss to BE,it came all the way back and hit my stop loss.

i wanted to know how to use this system to know when to exit,how can i know it is a failed trade so that i get out with a small profit,or a small loss.

thanks for your replys.
look into support and resistance. those are your best allies when it comes to exits.
  • #19,786
  • Feb 15, 2013 9:20pm Feb 15, 2013 9:20pm
Quoting philemon123
hi,thanks for your replys.

i took this trade today with the system.with 20 pip sl and 20 pip tp,the trade went 15 pips in my direction.

i moved the stop loss to BE,it came all the way back and hit my stop loss.

i wanted to know how to use this system to know when to exit,how can i know it is a failed trade so that i get out with a small profit,or a small loss.

thanks for your replys.
before asking anyone, you need to think why the trade failed. it happens often, but it is important to see why the trade had failed.

little suggestion: think outside the system.
  • #19,787
  • Feb 16, 2013 12:00am Feb 16, 2013 12:00am
Quoting pkimnyc
before asking anyone, you need to think why the trade failed. it happens often, but it is important to see why the trade had failed.

little suggestion: think outside the system.
I do believe he did, and maybe didn't find the reason whay it happened. This is why he asked for help....
JacekPreserve Precious Capital
  • #19,788
  • Feb 16, 2013 12:39am Feb 16, 2013 12:39am
Quoting Jackub
I do believe he did, and maybe didn't find the reason whay it happened. This is why he asked for help....
You'll learn more from losing trades that you will from any winners. It is vital that any trader make a concerted effort to analyse why their trade failed. Bring something, anything but in failed trade posts put ideas other than pls comment. There are so many prior helpful posts that it should really not be an issue.

There after all in the bigger pic just a few reasons why any 1 particular trade failed. Emmanuel didn't give any 'homework' so why not this. Put together your generic list of why trades can fail.

I'll start off time of day/range.
  • #19,789
  • Feb 16, 2013 1:25am Feb 16, 2013 1:25am
[quote=Vantage;6450850]You'll learn more from losing trades that you will from any winners. It is vital that any trader make a concerted effort to analyse why their trade failed. Bring something, anything but in failed trade posts put ideas other than pls comment. There are so many prior helpful posts that it should really not be an issue.

There after all in the bigger pic just a few reasons why any 1 particular trade failed. Emmanuel didn't give any 'homework' so why not this. Put together your generic list of why trades can fail.

I'll start off time of day/range.[/QUOTE
Vantage,
I do appreciate very much your effort to teach newbies right thinking, I do follow Emmanuel's, your,s and other guys comments, on this and other threads too.
IMO biggest problem for newbies (including myself) is to apply knowlege they already posses. To put all together and apply is the most difficult part of trading.
So, did his trade failed bcoz he entered on historical S/R zone, the TDI was flat and previous 15 candels were showing lack of momentum??
Best Regards for all contributors of this thread
Jacek
JacekPreserve Precious Capital
  • #19,790
  • Feb 16, 2013 1:59am Feb 16, 2013 1:59am
hi guys,thanks very much for your replys and willingness to share.

i think the price was near support.
  • #19,791
  • Feb 16, 2013 2:05am Feb 16, 2013 2:05am
[quote=Jackub;6450876]
Quoting Vantage
I'll start off time of day/range.[/QUOTE
IMO biggest problem for newbies (including myself) is to apply knowlege they already posses. To put all together and apply is the most difficult part of trading.
So, did his trade failed bcoz he entered on historical S/R zone, the TDI was flat and previous 15 candels were showing lack of momentum??
Best Regards for all contributors of this thread
Jacek
We have generic reasons for failed trades:

1) Time of day/range
2) Historical support/resistance level

Any more?

Ok onto that trade as you say historical SR level at RN, already rejected once in London session. I've mentioned already if you are going to enter at those areas (proven SR) you (IMHO) HAVE to protect yourself. A smallish stop can easily get tagged with a bounce off proven SR level. So get to BE quickly and live with the outcome i.e. it runs and you have a big winner or takes you out at BE. If you get hit at BE you'll have to hope below the SR level is a nice hl/lh wave i.e. retest of SR level for entry.

I agree that putting it all together is a big challenge. Having a trade plan goes a long way to help. Drawing up a list of reasons why you think trades failed will very, very quickly give scenarios that do not work. Make that list as detailed as you can, you never know what will recur. Then tailor your trading plan accordingly.
  • #19,792
  • Feb 16, 2013 2:12am Feb 16, 2013 2:12am
[quote=Vantage;6450900]
Quoting Jackub

We have generic reasons for failed trades:

1) Time of day/range
2) Historical support/resistance level

Any more?

Ok onto that trade as you say historical SR level at RN, already rejected once in London session. I've mentioned already if you are going to enter at those areas (proven SR) you (IMHO) HAVE to protect yourself. A smallish stop can easily get tagged with a bounce off proven SR level. So get to BE quickly and live with the outcome i.e. it runs and you have a big winner or takes you out at BE. If you...
Vantage,
I just love your consistent answer, hope, ( or rather should I say, I will) be able to make such clear and powerfull analyse one day.
The world is simple, if you understand it...
BR
Jacek
JacekPreserve Precious Capital
  • #19,793
  • Feb 16, 2013 2:13am Feb 16, 2013 2:13am
Quoting Vantage
I agree that putting it all together is a big challenge. Having a trade plan goes a long way to help. Drawing up a list of reasons why you think trades failed will very, very quickly give scenarios that do not work. Make that list as detailed as you can, you never know what will recur. Then tailor your trading plan accordingly.
Being specific 2 examples from when we traded 5 min entries. I noticed that the 3rd/4th 5 min hl/lh in run when there was a quick 60-70 pip move after LO had high failure rates.

Also that pre/early US session trades based on weak 1hr CT candles were high failure rates, now we wait for either stronger candles or even better for London trend to resume in US session.

Now I don't care what those set ups do. I amended by trade plan accordingly.
  • #19,794
  • Feb 16, 2013 2:30am Feb 16, 2013 2:30am
[quote=Jackub;6450905]
Quoting Vantage

Vantage,
I just love your consistent answer, hope, ( or rather should I say, I will) be able to make such clear and powerfull analyse one day.
The world is simple, if you understand it...
BR
Jacek
Hey when you've taken enough knocks sooner or later you say OK I know THIS doesn't work, what does?

I messed around for a couple of years before things started clicking or so I thought, went live, went full time. Thats when the real learning curve kicked in. Following that the consistency in approach kicked in. I really, really believe given most charts we will have a view of what we would likely do.

Honestly (IMHO) whilst theres loads of little variations of course, there really are only a handful of basic reasons why the majority of trades fail. Get those clear in your mind will go a long way to avoid losing trades that dent otherwise good numbers. Add to that what successful trades have in common = your trading plan. Then the challenge is to stick to it, changing only when you have a proven improvement.

Go back (hindsight is a beautiful thing) and look at the very best perfect runs on D chart. What do those set ups/candles look like/have in common? Then seeing where the blast of happened what do 1hr charts look like. What does 15 min look like. If in D uptrend what do the dips look like, in downtrend the rallies? What do the reverts to D trend look like?

Is it easy or hard work. Its hard work but compared to what? Studying to be a doctor, working on an offshore oil rig, sitting 3 hours a day in traffic. Might it take a few years to get right, of course it will. having some focus does help though to cut the long bang your head against the wall learning curve of what doesn't work.
  • #19,795
  • Feb 16, 2013 3:45am Feb 16, 2013 3:45am
[quote=Vantage;6450900]
Quoting Jackub

We have generic reasons for failed trades:

1) Time of day/range
2) Historical support/resistance level

Any more?

Ok onto that trade as you say historical SR level at RN, already rejected once in London session. I've mentioned already if you are going to enter at those areas (proven SR) you (IMHO) HAVE to protect yourself. A smallish stop can easily get tagged with a bounce off proven SR level. So get to BE quickly and live with the outcome i.e. it runs and you have a big winner or takes you out at BE. If you get hit at...
  • #19,796
  • Feb 16, 2013 7:29am Feb 16, 2013 7:29am
Quoting Jackub
I do believe he did, and maybe didn't find the reason whay it happened. This is why he asked for help....
i disagree. in case he did, he was looking so hard inside the loop of so called given "system."

think outside the box. try to understand what is going on behind your chart.

just because you are new to this game or business, do not think that you will find the answers from ff.

do your own research. study other components. systems only work some part in the market.

do not trap yourself thinking inside the loop of the system. it won't get you far in this business.
  • #19,797
  • Feb 16, 2013 7:52am Feb 16, 2013 7:52am
Quoting Jackub
IMO biggest problem for newbies (including myself) is to apply knowlege they already posses. To put all together and apply is the most difficult part of trading.
welcome to trading. if it was so easy then everyone would be making millions.

it's simple, but not easy.
  • #19,798
  • Feb 16, 2013 7:57am Feb 16, 2013 7:57am
Quoting pkimnyc
welcome to trading. if it was so easy then everyone would be making millions.

it's simple, but not easy.
This is a business for market makers to make profit. not us. Think about that for a min.
  • #19,799
  • Feb 16, 2013 12:05pm Feb 16, 2013 12:05pm
What I am posting has been posted many times.To get a better view of action I start with daily,drop to 4hr then 1hr
your trigger time is 15min
It is important also to be aware of news and how that fits with your orders.Last Thurs NU had a great positive numbers on consumer spending and this pair went up unusually high range 8517.
People who say news does not matter are trading lot larger time frames like weekly and monthly however anything less you must keep awareness of news.
I find traders who only trade mechanically and technically are handicapping themselves from fundamental aspect of the business.
There must be healthy balance.Good trader always knows what is current.

I have developed my own system that suits me and so far showing great results.I can't share it until I have significant mileage to weed out the bugs.
good trading to all
Attached Image
In trading, you have to be defensive and aggressive at the same time
  • #19,800
  • Feb 17, 2013 12:01am Feb 17, 2013 12:01am
[quote=Vantage;6450900]
Quoting Jackub

We have generic reasons for failed trades:

1) Time of day/range
2) Historical support/resistance level

Any more?
I know this is a toughie, but this should help.

Do you have a set of counter trend trade rules? If you saw the items on your CT list starting to fill up would you take a trend trade? If you did fair enough no problem. If you got to say +15 would you protect yourself and get your stop to BE quicker or let your stop get hit when CT alarm bells are ringing?
86 traders viewing now