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  • #10,461
  • Feb 26, 2013 8:10pm Feb 26, 2013 8:10pm
Quoting Phx62
Two trades today......the 1st taken at LO following a long pullback of the FO candle.....hit TP. The 2nd trade taken following a retest of the high of the day and a pullback on the entry candle.....the trade was taken based on price action (the pullback) and not a cross of the TDI....I did analyse TDI before entering the trade and saw the yellow MBL was sloping down and below the 50 line and the red and green were below the MBL, which confirmed my decision to enter short. Lots of volitility on this pair right now, so 100 or 150 pip TP's are not...
I have to say Phx62 is like master yoda with his methods ... .. .
do keep on posting your trade for us to learn a thing or two (I am still trying to catch up on this thread, page 183 Jan 2012 now)
  • #10,462
  • Feb 26, 2013 9:24pm Feb 26, 2013 9:24pm
Quoting otiose
I have to say Phx62 is like master yoda with his methods ... .. .
do keep on posting your trade for us to learn a thing or two (I am still trying to catch up on this thread, page 183 Jan 2012 now)
Hi

I'm too flipping around those pages, I think I'm at page NO. 130 or so, I'm in a hard back testing mode at the moment.

Phx62, I cant really thank you enough for continuing teaching us , we really benefit form you and the way you trade and how you try as hard to make it simple for us trading
I Have Learned to Take Some Losses to Make Profits
  • #10,463
  • Feb 27, 2013 4:16am Feb 27, 2013 4:16am
Quoting yossry77

dear sair

I'm new with you

I want to know how to put these stars

thank u
There you go.

Important: Please don't use it as your only signal to enter (it repaints) and make sure you watch how it responds to price. Its been said before a million times here but make sure you test and study before going live!

Took one trade earlier on EUR/USD entered at first blue candle after Tokyo green spot and held for 50 pips. Will possibly continue up (thanks Phx for that trick) but I have to go out.

Happy pippin.
Attached Image
Attached File(s)
File Type: ex4 #4X 3 Semafor Alert.ex4   11 KB | 437 downloads
We're all just one trade away from humility.
  • #10,464
  • Feb 27, 2013 5:02am Feb 27, 2013 5:02am
Todays trade.

My godness, first loss on EJ. Buying at 129.158 exit 119.703. Loss 21pips.

Result -21pips.

Seniors, please advise if my action is correct. Do appreciate if any better suggestion. Thanks in advance.
Attached Image (click to enlarge)
Click to Enlarge Name: 2013.02.27-ej-buy loss.gif Size: 31 KB
Banker please return my pipins.
  • #10,465
  • Feb 27, 2013 5:06am Feb 27, 2013 5:06am
Today 2nd Trade.

Since the first lose... Well, I believe the price gonna struggle for today before NY open.

So decided to use the method and apply to 5mins TF. Oppurtinity arises on EU. Took a Long EU, and make a quick +20pips.

Overally -1pips.
Attached Image (click to enlarge)
Click to Enlarge Name: 2013.02.27-eu-buy 2 exit.gif Size: 38 KB
Banker please return my pipins.
  • #10,466
  • Edited 6:55am Feb 27, 2013 6:37am | Edited 6:55am
Quoting Babyboy
Todays trade.

My godness, first loss on EJ. Buying at 129.158 exit 119.703. Loss 21pips.

Result -21pips.

Seniors, please advise if my action is correct. Do appreciate if any better suggestion. Thanks in advance.
I'm as far away from being senior as from trading EUR/JPY, but:

Check out EUR/JPY M15. That's a disaster. Daily inside bar. TDI green dancing with red, price around RN. Draghi and Bernanke speaches. Last time I asked for similar PA, dee50 knew the answer. Back then it was beyond my comprehension, its not far from there right now.

Just sit aside and go to protradenetwork.com . Been watching videos from early morning today.

I promised myself not to take traders without VERY clear price action. Double bottom, divergence, rejection, Phx62's "rare gem", golden fib on clear movements and other stuff that makes you comfortable and confident with your entry. EUR/JPY morning PA simply does not qualify.


Cheers,
M.
Remember I'm a newbie!
  • #10,467
  • Feb 27, 2013 6:44am Feb 27, 2013 6:44am
By the way,

Nice doube top on EUR/USD at yesterday's high rate-> possible shorts with TDI crosses.
EUR/USD H4 divergence. ABCD pattern that I posted yesterday-> possible longs after price breakout.

Wonder where the price go during/after the speaches. What' is sentiment?

Cheers,
M.
Remember I'm a newbie!
  • #10,468
  • Edited 7:18am Feb 27, 2013 7:06am | Edited 7:18am
Quoting Drewas
There you go.

Important: Please don't use it as your only signal to enter (it repaints) and make sure you watch how it responds to price. Its been said before a million times here but make sure you test and study before going live!

Took one trade earlier on EUR/USD entered at first blue candle after Tokyo green spot and held for 50 pips. Will possibly continue up (thanks Phx for that trick) but I have to go out.

Happy pippin.
Just to show how the #4x 3 Semafor indicator updates see the above and notice now that a new dot with a star has formed.

Had I been around I would have held my earlier trade, why? Because no candle had closed Red, the yellow TDI was pointing up and there was no hook on the green TDI (all classic TMS/XMAN signs) also the possible low of the London session in the first three hours was created.

Would have had a further 20 pips to my 50 trade maybe more. Hope that makes sense of my use of the indicator? BTW a yellow dot or sun with a yellow centre is a strong indicator that price with go down (confirmed by the double top) but hey theres no guarantees in Forex
Attached Image
We're all just one trade away from humility.
  • #10,469
  • Feb 27, 2013 10:58am Feb 27, 2013 10:58am
A fascinating read, has opened my eyes and is changing my view of trading and how to trade. Here is a small sample from "Time Compression Trading, Exploiting Multiple Timeframes in Zero Sum Markets"
Attached File(s)
File Type: pdf Time Compression Trading.pdf   47 KB | 868 downloads
Cut your Losers short and let your Winners run.
  • #10,470
  • Feb 27, 2013 11:45am Feb 27, 2013 11:45am
For those of you trading the EJ.....there were a couple of good trades during NY.....I posted a H4 chart below showing the channel we have referred to several times over the past few days.....below that channel (that was broken yesterday), there is a flag (or pennant) developing. On the M15 chart I outlined the 2 trades I entered....they were both based on pullbacks from the top and bottom of that flag and TP's were set just inside those flag lines....both turned out to be good trades......now I will begin to look for a breakout of the flag and another move following consolidation......
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2013.2.27 ej h4.gif Size: 41 KB
Click to Enlarge Name: 2013.2.27 ej m15.gif Size: 38 KB
  • #10,471
  • Feb 27, 2013 12:03pm Feb 27, 2013 12:03pm
Utterly amazing. Every time I see no logic in the market Phx62 delivers a screenshot of 100 pips profit. Congratulations.

I just hope that the number of tricks is finite so that I can memorize them all :>
Remember I'm a newbie!
  • #10,472
  • Feb 27, 2013 1:41pm Feb 27, 2013 1:41pm
Quoting dee50
A fascinating read, has opened my eyes and is changing my view of trading and how to trade. Here is a small sample from "Time Compression Trading, Exploiting Multiple Timeframes in Zero Sum Markets"
very interesting! Thanks for sharing.
  • #10,473
  • Feb 27, 2013 2:18pm Feb 27, 2013 2:18pm
Picked up +70 more pips on the flag breakout I mentioned in my last post......TP set at daily resistance and the 121.20 RN......the Euro pairs seem to like the .20 and .80 RN's.......
Attached Image (click to enlarge)
Click to Enlarge Name: 2013.2.27 ej2 m15.gif Size: 43 KB
  • #10,474
  • Feb 27, 2013 4:03pm Feb 27, 2013 4:03pm
Awesome Phx62!! I've been following your posts and I'm fascinated by your style and precision. I like the way you trade, and I think I can learn so much in this thread. I've been testing so many estrategies but this one is clear and pay atention to PA, what I think it's the key.

Just one question by now, how do you do to make such a perfect close of the trades? I've doing some trades (mostly on EUR/USD, 1h.) and entries were fine but the close allways dificult for me (too many s/r, and noise). Could you give me any suggestion?

thanks for your help


toni


Quoting Phx62
Picked up +70 more pips on the flag breakout I mentioned in my last post......TP set at daily resistance and the 121.20 RN......the Euro pairs seem to like the .20 and .80 RN's.......
  • #10,475
  • Feb 27, 2013 5:25pm Feb 27, 2013 5:25pm
Quoting forexdaist
Awesome Phx62!! I've been following your posts and I'm fascinated by your style and precision. I like the way you trade, and I think I can learn so much in this thread. I've been testing so many estrategies but this one is clear and pay atention to PA, what I think it's the key.

Just one question by now, how do you do to make such a perfect close of the trades? I've doing some trades (mostly on EUR/USD, 1h.) and entries were fine but the close allways dificult for me (too many s/r, and noise). Could you give me any suggestion?

thanks for your...
On the 1st two trades of the day, I used the edges of the flag formation as my TP....on the last trade ....the daily resistance line, the 121.20 Round Number (Euro pairs seem to stop at .20 and .80 round numbers) and the 161.8 fib extension were in confluence, so I used that area as my target......price broke through that area but pulled right back without closing above the resistance area......S/R levels and fib extensions are quite accurate for targets.....it just takes lots of study and backtesting to learn how they work......
On other trades taken during the London session, I often use a standard 50 or 100 pip TP and adjust it as the trade progresses, based on price action, support and resistance areas like daily or H4 lines and/or EMA's. I also use the Average Daily range to determine my targets and I try to stay in a trade as long as there is no close of a candle in the opposite color after I am in a trade for 20 to 25 pips......sometimes I am wrong but mostly this method is successful.....
  • #10,476
  • Feb 27, 2013 11:15pm Feb 27, 2013 11:15pm
I love this system, if understood is the goldmine in forex.
I am more afraid of 100 sheep led by a lion than 100 lions led by a sheep!
  • #10,477
  • Feb 28, 2013 3:35am Feb 28, 2013 3:35am
done for february out with 51 pips on this one
hope you all are doing well!
Attached Image (click to enlarge)
Click to Enlarge Name: 28 february eurjpy.gif Size: 25 KB
  • #10,478
  • Feb 28, 2013 3:42am Feb 28, 2013 3:42am
Quoting tonny47
done for february out with 51 pips on this one
hope you all are doing well!
That looks like a Head & Shoulders and you got in early at the arm-pit....LOL.

Nice way to close the month with 51pips. Congrats!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #10,479
  • Feb 28, 2013 3:46am Feb 28, 2013 3:46am
cheers

Quoting emmanuel7788
That looks like a Head & Shoulders and you got in early at the arm-pit....LOL.

Nice way to close the month with 51pips. Congrats!
  • #10,480
  • Feb 28, 2013 4:39am Feb 28, 2013 4:39am
Thanks for your help.

Just wonder if do you still doing the S3 basic strategy in 1H with EURUSD, or do you plan your entries in 15m? Also, which pairs do you watch for trade? Just EURUSD and EURJPY? GBPUSD too?


thanks

Quoting Phx62
On the 1st two trades of the day, I used the edges of the flag formation as my TP....on the last trade ....the daily resistance line, the 121.20 Round Number (Euro pairs seem to stop at .20 and .80 round numbers) and the 161.8 fib extension were in confluence, so I used that area as my target......price broke through that area but pulled right back without closing above the resistance area......S/R levels and fib extensions are quite accurate for targets.....it just takes lots of study and backtesting to learn how they work......
On other trades...
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