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  • #10,301
  • Feb 15, 2013 6:34am Feb 15, 2013 6:34am
resultats
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  • #10,302
  • Feb 15, 2013 6:35am Feb 15, 2013 6:35am
Quoting davson90
signal and close position with TMS system

enjoy
thnks for your trades Davson! i believe you are using MT4?
just a kind suggestion - if you go to your account history you can click on the closed trade, drag it and drop it onto a chart and you will see exactly the candle where you entered and exited trade (as shown on my charts). it will make it much easier for you to go back to it when you are reviewing your trades later.

of course its your preference

all the best
  • #10,303
  • Feb 15, 2013 6:36am Feb 15, 2013 6:36am
another
thanks ph6x , x-man for this method very good
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  • #10,304
  • Feb 15, 2013 6:38am Feb 15, 2013 6:38am
Quoting tonny47
thnks for your trades Davson! i believe you are using MT4?
just a kind suggestion - if you go to your account history you can click on the closed trade, drag it and drop it onto a chart and you will see exactly the candle where you entered and exited trade (as shown on my charts). it will make it much easier for you to go back to it when you are reviewing your trades later.

of course its your preference

all the best
yes i use MT4 , hotforex
  • #10,305
  • Feb 15, 2013 6:44am Feb 15, 2013 6:44am
Quoting dee50
Divergence on 4hr 1hr and 15 min. TDI at the 32 level on the 1hr and 15 min and 5 min. 10 pip SL, move to B/E at 10pips in profit. All of this tempered any doubts about the 1.3300. If the news had been negative I would simply have closed the trade.
  • #10,306
  • Feb 15, 2013 6:48am Feb 15, 2013 6:48am
Quoting davson90
yes i use MT4 , hotforex
fantastic results! congrats buddy! are those your live account results?
  • #10,307
  • Feb 15, 2013 6:54am Feb 15, 2013 6:54am
Quoting tonny47
fantastic results! congrats buddy! are those your live account results?
live account no need demo accont to use X-man method very simple and very good i need money so i dont hvae time to trade on demo accont .

enjoy
  • #10,308
  • Feb 15, 2013 7:45am Feb 15, 2013 7:45am
Quoting davson90
live account no need demo accont to use X-man method very simple and very good i need money so i dont hvae time to trade on demo accont .

enjoy
thats the spirit! well done on your success!
do you look out for the slope of market base line or where the cross of TDI occurs? also i see that your size varies at times - how do you change that?
  • #10,309
  • Feb 15, 2013 8:32am Feb 15, 2013 8:32am
Quoting davson90
live account no need demo accont to use X-man method very simple and very good i need money so i dont hvae time to trade on demo accont .

enjoy
I love this one day I ll also be bold like this to trade.
I am more afraid of 100 sheep led by a lion than 100 lions led by a sheep!
  • #10,310
  • Feb 15, 2013 9:49am Feb 15, 2013 9:49am
Quoting tonny47
nice! i see you caught about 100 pips on it! do you only trade 4 hour charts? how is that working out for you?
I have been most sucessfull trading the 4hr. However, like others I do occasionally zoom-in to the 15m to get an erlier entry. I find myself capturing most of the move without anxiously closing a posisition too early.

That ab-cd trade I posted works well using the fib expansion tool plotting B to C to D with a TP at the 61.8.

Another +/- 100 pip move on the CJ
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  • #10,311
  • Feb 15, 2013 10:08am Feb 15, 2013 10:08am
Quoting davson90
signal and close position with TMS system
TMS System? Great trades. love the results. You certainly have this trading thing nailed. Well Done. You say you are trading according to the TMS method but I do not see the TDI on your charts. You appear to be trading pure PA, is that correct? Breakouts of S&R levels and Pin Bars? Could you share your Trade entry criteria, because what ever it is works really well.
Cut your Losers short and let your Winners run.
  • #10,312
  • Feb 15, 2013 12:08pm Feb 15, 2013 12:08pm
Quoting TheScorpS
I have seen this pattern happens many times in backtesting and today early morning happened again

Price Action makes a double bottom or tops followed by a pullback candle and then a change of color candle opens and makes almost upto + 50 pips or so

Anyone can confirm this pattern or have experienced trading this pattern ?

Please let me know the reasons behind this trading psychology

Notes on the chart

Thanks
I had to re-up this post, Dee , Phx60 and other members, would you share your valuable information on this matter

Thank You
Attached Image
I Have Learned to Take Some Losses to Make Profits
  • #10,313
  • Feb 15, 2013 12:31pm Feb 15, 2013 12:31pm
Quoting tonny47
got long eurjpy at london open - really silly decision! right after a bearish candle! then reentered again long with small stop so in total lost on that trading idea about 45 pips.
there is one more trade on the chart which shows as break even - thats just me accidentally entering trade, got out immediately for 2 pip loss
then finally i got long again and took about 65 pips. so i am net +18 pips for a day.

the eurjpy taken based on major support - zoom out daily charts and you will see what i mean

also was long euro but got stopped out...
Got faked same as you but on the EUR/USD , I enterd at Franfurt open based on emotion when PA spiked up at 50EMA , lots of backtesting is needed still, and reading about psychology and how to manage trades
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I Have Learned to Take Some Losses to Make Profits
  • #10,314
  • Feb 15, 2013 12:44pm Feb 15, 2013 12:44pm
Quoting TheScorpS
Got faked same as you but on the EUR/USD , I enterd at Franfurt open based on emotion when PA spiked up at 50EMA , lots of backtesting is needed still, and reading about psychology and how to manage trades
  • #10,315
  • Feb 15, 2013 12:56pm Feb 15, 2013 12:56pm
Quoting TheScorpS
Got faked same as you but on the EUR/USD , I enterd at Franfurt open based on emotion when PA spiked up at 50EMA , lots of backtesting is needed still, and reading about psychology and how to manage trades
Who didn't...
Really good that you are sharing your bad trades as this is best way to learn a trading system!
  • #10,316
  • Feb 15, 2013 5:48pm Feb 15, 2013 5:48pm
Quoting TheScorpS
Got faked same as you but on the EUR/USD , I enterd at Franfurt open based on emotion when PA spiked up at 50EMA , lots of backtesting is needed still, and reading about psychology and how to manage trades
http://www.forexfactory.com/attachme...1&d=1360960241
Hi TheScorp,

well, you did your own post-mortem of your trade and learn from that. That is important how we learn from our own trades whether they are win or loss trades. I think that entry candle was not FO candle. That in fact was a nice 50% rectrace of the Prev D candle with confluence with 50 or 60EMA and historical S&R 1.3380. Hindsight is 20/20 vision as some will tell you.

what I always do at the start of every new trading day is to look at the D chart. The D candle is important for me to decide whether I want to be buyer or seller for that day when I trade intraday. The second thing I look at is the H4 candles. I look for breakouts just like on 14 Feb after sveral 4-hour periods of price consolidation.

On D chart, you will notice how strong the breakout was on Thursday 14 Feb after that pin bar of 13 Feb.
To buy on 15 Feb, is going against the D momentum of 14 Feb. That's that is one risk.
You also need to consider where the swing traders sellers of the previous day have that stops.... above, right? This is usually where fakey go to before market decide on the new direction. We don't know these for sure and we rely solely on techicnal analysis for our trading decisions.
We must have a Plan A and and Plan B for situation when Plan A fails.

BTW, Friday' close undecided and D chart close looks like a bearish continuation pattern for next week. Risk averse traders will return to the safe haven currency. We follow the chart technicals to trade. It can be a ranging way between 1.3380 and 1.3250.

Let's watch the market and see what it will give us next week.

Trade Well!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #10,317
  • Feb 15, 2013 5:59pm Feb 15, 2013 5:59pm
Quoting TheScorpS
I had to re-up this post, Dee , Phx60 and other members, would you share your valuable information on this matter

Thank You
http://www.forexfactory.com/attachme...1&d=1360958931

Hi TheScorps,

well, I did not want to comment on that post earlier becasue I did not see a BIg Picture of that chart you posted.
It is not so simple by looking at 14 candles to make a trade decision.
Having a Big Picture is important as I want to see many things before I make any trade decision.
There is a process to follow when I trade and that is not so easy as many believe.
I always consider all these when I need to make a trade decision:
PriceAction
Trend
Multi-TimeFrame
Momentum
Supportand Resistance
Continuation
Volatility
MarketStrength
Range
Timing
I question and analyse every one of above then make a decision for entry and exits.



Regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #10,318
  • Feb 16, 2013 9:07pm Feb 16, 2013 9:07pm
Quoting emmanuel7788
http://www.forexfactory.com/attachme...1&d=1360960241
Hi TheScorp,

well, you did your own post-mortem of your trade and learn from that. That is important how we learn from our own trades whether they are win or loss trades. I think that entry candle was not FO candle. That in fact was a nice 50% rectrace of the Prev D candle with confluence with 50 or 60EMA and historical S&R 1.3380. Hindsight is 20/20...
Thanks emmanuel778 for your help, most of the time I don't know how to deal with Frankfurt or London opens fake candles, sometime I see that at the open they break the low or the high or the Asian session, but only then when I enter that I'm trapped and price action moves on the other direction, but as you say that daily and 4h chart can tell us most of the time the direction of the day.

After the fall and downtrend on the previous day, I should as you say be very cautious in entering long.

Every trade that I take after I close it , I write my notes on the chart and save it as my trading journal, so that I can review them later as a helping aids.
I Have Learned to Take Some Losses to Make Profits
  • #10,319
  • Feb 17, 2013 5:06am Feb 17, 2013 5:06am
Quoting boerseun
Hi Everybody,

I am new to this thread. have spend the last 2 weeks going thru this thread, some parts of the TMS thread and one other thread that uses the ema's as lately mentioned by Xman. The last 2 only for background knowledge as I am determined to learn and master the S3 way of trading.

I developed a special liking to Phx62's posts and his way of trading. I am still in the phase of re-studying the thread (especially all Phx62's posts) and starting to do some back-testing, so I am nowhere near contributing to this thread.....hopefully...
After I started to learn Forex, I started to read about another strategy that was doing very good but it was not my style of trading, did not feel the touch

One day I was searching Forex Factory strategies and this strategy got my attention, started following it 2 months ago, and now I'm starting to understand the strategy and how Price Action is the key to profiting in Forex along with the right trading psychology and discipline

Back testing on the other side is the key to understanding Price Action and building confident trading this strategy , so this what I'm doing now, along learning form experienced traders

I have learnt a lot form Phx62 compiled PDF files , there are 2 compiled files that I read and sure planning to keep reading until I get a grip on this strategy, I think they are available throughout this thread and can be found at the attachment section to this thread, your contribution to this thread would be very beneficial cause we are learning from experienced traders and from newbies

I found that when I back test , I face a lot of problems , so the more I back test and solve these problems, the more my forward trading gets better, so practice makes perfect

Wishing you all the best
and many big thanks for every and each members for keeping this thread alive

good Luck
I Have Learned to Take Some Losses to Make Profits
  • #10,320
  • Feb 17, 2013 8:53pm Feb 17, 2013 8:53pm
Quoting TheScorpS
Got faked same as you but on the EUR/USD , I enterd at Franfurt open based on emotion when PA spiked up at 50EMA , lots of backtesting is needed still, and reading about psychology and how to manage trades
TheScorpS,
May I ask why you let the trade go against you for 48 pips? Once your entry candle pulled back from the EMA and the next candle did not retest the EMA, I would have considered closing the long trade and entering short at the opening of the red candle, especially since it was the LO candle....confirmed by the TDI. Even a conservative trade taken on a break below the last blue candle would have netted over 50 pips........Just a little different perspective on trades like this.....one cannot become married to a position......when price goes against you with proven candle patterns, at certain times of day, be prepared to take a small loss and change your position for a profit.....
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