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Another simple system - Time-Frame 15

  • #20,061
  • Mar 2, 2013 10:51am Mar 2, 2013 10:51am
Quoting emmanuel7788
Hi ALL,

Only the CONSISTENT use and application will give consistent results.
CONSISTENCY is a part of TRADING DISCIPLINE.


Have Good Weekend.
That's 100% true.I take the losses and when it comes to wins I hesitate to enter so I miss the winners .If I'd be consistence to follow the rules and take all the trades ,No matter what I was a winner then.

All is a part of psychology and discipline.

Have a good weekend
Failure, is a wonderful teacher!
  • #20,062
  • Mar 2, 2013 11:21am Mar 2, 2013 11:21am
Quoting emmanuel7788
Have you read my posts of today? Have you started on your weekend exercise and done your back-testing?

Attached is a picture showing the USDChf and USDCad pairs showing the 28 Feb in M15 TF with the D candle in background.

Test yourself and decide which pair would you choose to trade after that 28 Feb bullish D candle closed.

Post and share what you learned and which pair you would have chosen to trade on 1 Mar.
USdCAD for my newbie view are more difficult coz weekly 200EMA just above...

however i will try backtest it, below chart is the answer if i was watching for this pair....hope u can give comment on my 2 entry ...

1st entry SELL CT- price look like go down below BRN 1.03000 & weekly S&R, also as i said price will pullback (maybe 36.2 FIB)?? before it going up again...beside than avoid CT , any other reason stop me to SELL it??

2nd BUY- H1 was broke previous week FIB 127% , S&R , BRN, YH,1H engulment candle(i not sure for this,hope Emmanuel can tell me)...and it closed ABOVE 10EMA...


Hope Emmanuel can correct me if any misstake...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: daily.gif Size: 30 KB
Click to Enlarge Name: 15m.gif Size: 49 KB
  • #20,063
  • Mar 2, 2013 5:20pm Mar 2, 2013 5:20pm
What I see, is a 127%ab=bc, on daily, kind of pin bar on a top ), historical S/R, and RN, additionally TDI cross over 68 ... ? Is it enough for reverse?
Attached Image (click to enlarge)
Click to Enlarge Name: usdcaddaily.png Size: 56 KB
JacekPreserve Precious Capital
  • #20,064
  • Mar 2, 2013 11:18pm Mar 2, 2013 11:18pm
Quoting aren
Hi emmanuel7788

Could you share the indicator call "Pre D Fib ...mq4 ? file, so I can put more, such 78.6%,141.4%..., I found that's better.

thanks so much!

aren.
you can use the standoard fibo tool found in all platforms and and those % levels you want...

or

since yoo want to do your own mql4 coding, you can try these at the Platform Tech forum.
http://www.forexfactory.com/showthre...32#post2537132

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,065
  • Mar 2, 2013 11:25pm Mar 2, 2013 11:25pm
Quoting emmanuel7788
EU 1 Mar:

EU will start a new day and a new month candle.
What will the market make today' new D candle?
I wish for a high OB to encapsulate yestreday' D and the previous Day.
But then, trading is not about wishing and hoping.
We shall trade the trend of today and manage consistently with a proven management method.
http://www.forexfactory.com/attachme...1&d=1362100011

Well, the market did not want to give me give me Day Pop Gun with bullish OB.
A D Pop Gun would have been a sign indicating the end of the current downtrend.

But instead the Day Inside Bar of 28 Feb breakout worked out just fine when we had trade with the Primary Trend.
Attached Image (click to enlarge)
Click to Enlarge Name: EU 1 Mar D IB BO.png Size: 120 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,066
  • Mar 2, 2013 11:36pm Mar 2, 2013 11:36pm
Quoting emmanuel7788
Hi ALL,

Here is my latest Prev Day and Prev Week fibo indicators attached.
I use these to plot the Previous Day and Previous Week fibo levels. You can use these and do your back-testing and study how the market structure or price behaviour in relation to the fib levels of the previous day and previous week depends on which timeframe you want to trade. But do not forget about the historical support and resistance levels and also the BRN and RN.
CONFLUENCE of these price levels is important to follow. Only the CONSISTENT use and application will...
Thanks you very much, emmanuel7788
  • #20,067
  • Mar 3, 2013 12:45pm Mar 3, 2013 12:45pm
share the indicator of Fib Pre D
Attached File(s)
File Type: mq4 spudfibo.mq4   8 KB | 419 downloads
  • #20,068
  • Mar 3, 2013 3:59pm Mar 3, 2013 3:59pm
  •  Hcp
  • | Joined Feb 2008 | Status: Everything Has the Meaning You Give | 74 Posts
Hi

A few daysago I was thinking that maybe I was a scalper , just because quit the trade with asmall profit, but the lastest readings posted in the thread, made me think I d needanother me, with another pshycologyc profile, having seen that I cant stand a winnig trade when it is 10 pipsup and begins to go against me. and that trade would have ended with 60 or 200pips gained.

This methodhas proven be profitable for me, from my modest point of view, I slowly began identifying the set up. But havingpassed the pressure to enter the trade, then, I cant stay in, and as I ve readthat many people do , rather tend to stay more in a loosing trade than in awinning one.

So, littIeby little I began thinking forex trading is not for me, I can see that practice ,practice practice could work just to train your eyes, to lead you identifyingset ups, but if we are not able to manage the trade accordingly it doesn twork. Then, if I don t change pshicologycally,(it could be fear to loose), it won twork, this is critical. And, as I ve read recently, we don t change, therefore,I can t go on.

Copied fromarticle to read posted by Emmanuel7788

“The cold hard truth of life is that we do not reallychange; we just grow older.”

“Successful traders choose those strategies that aremost aligned with their psychological profiles”

Maybe asthe last one says, I just need to discover that succesfull scalper system that suit me? I don t know.(sure I would call it “my Holy grail” (lol)

Last twomonths I made 80 trades, with 136 pips loss.

If I wouldhave taken 15 pips stop loss (thatalmost always covered the last swing), and taken profit at next s/r or RN, Iwould sum 136 pips win, 45%loss trades, 55%win. I know some of you make thisand more in one day but for me it would be very important.

Big thanksto Emmanuel7788, Vantage, jordfx, vnfx, loweitting, just to name a few of theactual participants in the thread,and Arjun, from whom I ve learned the littleI know, been because they are teaching or they are learning, and always lookingfor his posts. And in general to all of you.

Hugo
  • #20,069
  • Mar 3, 2013 7:03pm Mar 3, 2013 7:03pm
Quoting Hcp
Hi

A few daysago I was thinking that maybe I was a scalper , just because quit the trade with asmall profit, but the lastest readings posted in the thread, made me think I d needanother me, with another pshycologyc profile, having seen that I cant stand a winnig trade when it is 10 pipsup and begins to go against me. and that trade would have ended with 60 or 200pips gained.

[font=Calibri][size=3]This methodhas proven be profitable for me, from my modest point of view, I slowly began identifying the set up....
Hi Hugo,

This is a good self- evaluation. Thank you for sharing this with us in this thread.

Having done this self-evcaluatuion and knowing yourself much better, I think it is a good time now you look deep in the Trading Made Simple (TMS) technicals and use this techniclal method and develop your own three systems for yourself.
Why three systems?

Regards
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,070
  • Mar 3, 2013 7:09pm Mar 3, 2013 7:09pm
Quoting emmanuel7788
Have you read my posts of today? Have you started on your weekend exercise and done your back-testing?

Attached is a picture showing the USDChf and USDCad pairs showing the 28 Feb in M15 TF with the D candle in background.

Test yourself and decide which pair would you choose to trade after that 28 Feb bullish D candle closed.

Post and share what you learned and which pair you would have chosen to trade on 1 Mar.
http://www.forexfactory.com/attachme...1&d=1362227715

Well, it is obvious not many of you want to share what you learned for this weekend exercise. Or if you did not bother with this exercise, you missed learning something.

Thank you to members lowweiting and Jackub for posting your charts and your thoughts on this UChf and UCad pair selection.

I am afraid there is no correct or wrong answer to that exercise but I am sure, both of you having done this exercise will know exactly what you will trade this week and what to look out for to execute the trade setups.

Will post later my followup to this exercise later today.

Trade Well.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,071
  • Mar 3, 2013 7:14pm Mar 3, 2013 7:14pm
There is no free meal in this extremely brutal market.
You can be hungry, but you still need to work for it.
Once your worked, your meals will come easy.
Attached Image (click to enlarge)
Click to Enlarge Name: No free meal.png Size: 493 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,072
  • Mar 3, 2013 7:15pm Mar 3, 2013 7:15pm
Quoting emmanuel7788



Trade Well.
My wife kept me above the ladder the whole weekend to paint the baby room!
Failure, is a wonderful teacher!
  • #20,073
  • Edited 9:38pm Mar 3, 2013 7:20pm | Edited 9:38pm
Quoting mike1349
My wife kept me above the ladder the whole weekend to paint the baby room!
... my wife did that so many times that I lost count.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,074
  • Mar 3, 2013 7:25pm Mar 3, 2013 7:25pm
Quoting emmanuel7788
... my wife did that some many times that I lost count.
Not done yet.....
You know Emmanuel what hurt the most......She told me if I do painting I make more money than trading...True
Failure, is a wonderful teacher!
  • #20,075
  • Mar 3, 2013 7:44pm Mar 3, 2013 7:44pm
Quoting mike1349
Not done yet.....
You know Emmanuel what hurt the most......She told me if I do painting I make more money than trading...True
To save your marriage, live with this belief: "Woman is always right..."

She is right in another sense, that depends on how you see that what she said.
But the view up the ladder must be good, right?
Top down view is very important.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,076
  • Mar 3, 2013 7:45pm Mar 3, 2013 7:45pm
AU ... whoppeeeeee...

I see parity.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,077
  • Mar 3, 2013 8:31pm Mar 3, 2013 8:31pm
  •  Hcp
  • | Joined Feb 2008 | Status: Everything Has the Meaning You Give | 74 Posts

Why three systems?

Regards [/quote]


Hi Emmanuel7788
Here maybe another paragraf of the article can help me answer your question

Scalping(short term), Swing Trading (mid term) or Positional Trading (long term)
Itdepends on the Market Type - exclusively.

That is the reason why your trading system (method, strategy or tactic) needs to beflexible and capable of properly identifying which type of market conditionexists, so that the right tool can be brought to bear on the market, at theright time.

It is precisely because there are different Market Types, that you seedifferent types of trading styles, or techniques being deployed. The mostprofitable, would be a trading system that successfully integrated all three (3)Market Types into one cohesive trading operation/function.


thank you very much
Hugo
  • #20,078
  • Mar 3, 2013 9:23pm Mar 3, 2013 9:23pm
Quoting emmanuel7788
AU ... whoppeeeeee...

I see parity.

Will EU do the Same thing??? i looking for good place to SELL....

is my chart look messy???
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 37 KB
  • #20,079
  • Mar 3, 2013 9:28pm Mar 3, 2013 9:28pm

There a beginner's luck ,1st of the month luck and pure lucky.This is a purely lucky trade.Re entry accidentally with x10 more lot size.
Luckily manage to exit @+12pips.
Attached Image (click to enlarge)
Click to Enlarge Name: re entry exit.jpg Size: 446 KB
  • #20,080
  • Mar 3, 2013 10:20pm Mar 3, 2013 10:20pm
Quoting lowweiting
Will EU do the Same thing??? i looking for good place to SELL....

is my chart look messy???
why should EU do the same as AU? their only common correlation is USD strength. Aussie is more dependent on commodity and its weakening domestic economy. Euro has its own set of problems in the EZ. The US is plagued with their own family quarrels in Congress and Senate.

EU Monthly candle closed bearish engulfing. Weekly is 4 weeks down. D is obvious. If you take position this week, be prepared to average in more positions way up 300pips. Is this the way to trade?

This week there are so many news events to play with. and the range of 300pips should be nice to trade.

Trade with Caution!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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