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Another simple system - Time-Frame 15

  • #20,241
  • Mar 12, 2013 7:37pm Mar 12, 2013 7:37pm
Quoting mike1349
Makes sense for a Break Out strategy.....
I trade this way only for AU.
when traders cannot decide if they are scalpers or day traders, and look at lower TF like M15, this cant be any simpler.
Just look at price action moves around the grid box.
an average day you get 3 trades - up and down. Some time you get caught in the breakout into a trend of that day, that what we all want.
It will 1R, 2R, 3R ... at best 5R trade, Then you take a break and go out of your trading room.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,242
  • Mar 13, 2013 4:14am Mar 13, 2013 4:14am
Quoting emmanuel7788
Hi,
I follow ASX and this is one way I look at AU ...
Emmanuel,
What is ASX? (Maybe something came over me because I am tired now and cannot remember the simplest things?)
Thanks.
  • #20,243
  • Edited 6:36am Mar 13, 2013 4:24am | Edited 6:36am
Quoting MidnightRun
Emmanuel,
What is ASX? (Maybe something came over me because I am tired now and cannot remember the simplest things?)
Thanks.
Australian Securities Exchange


Edit: the acronym ASX should be Australian Securities EXchange... LOL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,244
  • Mar 13, 2013 6:38am Mar 13, 2013 6:38am
EU looks like Bear feasting up stream again at Prev W Fib-r 50%...
Triple tops this week.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,245
  • Mar 13, 2013 8:18am Mar 13, 2013 8:18am
Quoting emmanuel7788
EU looks like Bear feasting up stream again at Prev W Fib-r 50%...
Triple tops this week.
EU 13 Mar NYO
Attached Image (click to enlarge)
Click to Enlarge Name: EU week 11 Bear feeding again.png Size: 230 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,246
  • Mar 13, 2013 8:27am Mar 13, 2013 8:27am
Hello folks,
you all very quiet.
no one posting anything.
make trading less boring and have some fun.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,247
  • Mar 13, 2013 9:07am Mar 13, 2013 9:07am
I think the challenges most newbies are facing is the lack of clear cut entry, stop, exit rules, apart from '...enter when candle closes below 10e!...'. I know some are just plain lazy and don't want to put in the effort, but I believe some are just genuinely stomped as to how to make 'CONSISTENT' profits. How to keep it Simple? Define the rules? Experience traders somehow know what to look out for and consistently make pips after so much backtesting, forward testing and training the eye. Subsequent to which not many are still interested in posting to 'help' newbies. So, we want to keep the thread alive? Then we just have to find a way of really breaking things down. The new ideas you're working with (@Emmanuel) using the Sydney opening range is a strategy I've also been toying with using Asia High and Low ranges. I'm trying out bits and pieces from other different strategies to see what really works and combine it with some aspects of Loveeveryones method in order to see if we can have clear cut entry, stop and exit rules. This makes the use of other indicators, necessary. I'm not such a big fan of indicators, but I have come to realise that price action alone simply cannot give you enough information about the underlying MOMENTUM, DIVERGENCE, VOLUME, ENERGY AND CYCLES, behind price action. I have an expeimental template i'm working on, but I'm very hesitant to share it here as it incorporates other indicators to help with these info, and is domiciled on the 5 minute timeframe.
It helped me latch on to the massive breakout at yesterdays Frankfurt Open and the previous day-Low breakout happening right now as I write this! So what do you guys think? To share, work on it together here? Or take it up on another new thread altogether?
  • #20,248
  • Mar 13, 2013 9:23am Mar 13, 2013 9:23am
Quoting emmanuel7788
EU 13 Mar NYO
! Thats 5-Star Charting!
  • #20,249
  • Mar 13, 2013 9:36am Mar 13, 2013 9:36am
Quoting jordfx
I think the challenges most newbies are facing is the lack of clear cut entry, stop, exit rules, apart from '...enter when candle closes below 10e!...'. I know some are just plain lazy and don't want to put in the effort, but I believe some are just genuinely stomped as to how to make 'CONSISTENT' profits. How to keep it Simple? Define the rules? Experience traders somehow know what to look out for and consistently make pips after so much backtesting, forward testing and training the eye. Subsequent to which not many are still interested in posting...
Jordfx,
First, thanks for the post which, as far as I am concerned, is the crux and the very essence of what this endevour (forum) is about.
For me consistency is my biggest problem - my trading is ups and downs, and has been quite for some time. Sometimes it is due to lack of discipline, often due to lack of confidence. I have had substantial (relatively) wins (I judge my success of failure by each month's results, and please believe me, I am not trying to impress or blow my own trumpet - there were months where my profit was in excess of 10k - 13k, but there have been months where my losses were as large and even larger). So much for the first part of your post: very true, thoughtful and accurate.
Second part. Each trader has a different degree of patience - I cannot wait for hours watching a chart marking time and stalling, with my position moving a few pips up and then a few pips down. For that reason a 4H method is a torture as far as I am concerned. I sure do check higher timeframes charts, but trade 5m and 15m methods, and I am certainly open to new and promising things. I'd be happy to try out your experimental template (with clear unambiguous entry and exit rules), and report my progress - in this thread (it is as good as any other for the purpose), or another thread - should you decide that the method must be tried out and its performance monitored separately.

Again, thank you very much.
Alex
  • #20,250
  • Mar 13, 2013 10:39am Mar 13, 2013 10:39am
Quoting jordfx
I think the challenges most newbies are facing is the lack of clear cut entry, stop, exit rules, apart from '...enter when candle closes below 10e!...'. I know some are just plain lazy and don't want to put in the effort, but I believe some are just genuinely stomped as to how to make 'CONSISTENT' profits. How to keep it Simple? Define the rules? Experience traders somehow know what to look out for and consistently make pips after so much backtesting, forward testing and training the eye. Subsequent to which not many are still interested in posting...
This method works, yes with the addition of some trading basics. To start adding other methods that have nothing to do with this thread will only cause great confusion especially as the 1st post cannot be updated without LE1.

Get your method clear and start your own thread. Good luck to you on that journey.
  • #20,251
  • Mar 13, 2013 10:42am Mar 13, 2013 10:42am
  •  Hcp
  • | Joined Feb 2008 | Status: Everything Has the Meaning You Give | 74 Posts
Hi, this was my little winner today, didn t enter the break of the TL two bars before because of the
BRN.
thank you.
Attached Image
  • #20,252
  • Mar 13, 2013 10:55am Mar 13, 2013 10:55am
Quoting Vantage
This method works, yes with the addition of some trading basics. To start adding other methods that have nothing to do with this thread will only cause great confusion especially as the 1st post cannot be updated without LE1.

Get your method clear and start your own thread. Good luck to you on that journey.
  • #20,253
  • Mar 13, 2013 11:10am Mar 13, 2013 11:10am
Quoting Hcp
Hi, this was my little winner today, didn t enter the break of the TL two bars before because of the
BRN.
thank you.
It worked but that entry makes me a big fall then a doji and you sell? Where was your stop, above the last swing high? I'd definitely have waited for a move up to have failed and then a negative close. I think you need to wait for the next candle or so to confirm a lower high with a more realistic stop. The trade worked this time but I honestly don't think you'll be doing yourself any favours by entering this way. Just trying to help.
  • #20,254
  • Mar 13, 2013 11:11am Mar 13, 2013 11:11am
Quoting jordfx
I think the challenges most newbies are facing is the lack of clear cut entry, stop, exit rules, apart from '...enter when candle closes below 10e!...'. I know some are just plain lazy and don't want to put in the effort, but I believe some are just genuinely stomped as to how to make 'CONSISTENT' profits. How to keep it Simple? Define the rules? Experience traders somehow know what to look out for and consistently make pips after so much backtesting, forward testing and training the eye. Subsequent to which not many are still interested in posting...
keep it to yourself.
  • #20,255
  • Mar 13, 2013 11:15am Mar 13, 2013 11:15am
Quoting Hcp
Hi, this was my little winner today, didn t enter the break of the TL two bars before because of the
BRN.
thank you.

Quoting Vantage
It worked but that entry makes me a big fall then a doji and you sell? Where was your stop, above the last swing high? I'd definitely have waited for a move up to have failed and then a negative close. I think you need to wait for the next candle or so to confirm a lower high with a more realistic stop. The trade worked this time but I honestly don't think you'll be doing yourself any favours by entering this way. Just trying to help.

i fully agree with vantage on this one.
  • #20,256
  • Mar 13, 2013 11:35am Mar 13, 2013 11:35am
Hi everybody,

I have not visited this thread for quite some time, mainly because I am more into trading the longer TF's, especially the 4HR and Dailies.

Is anybody still trading Arjun's 4HR trading method as described by him in the early part of this thread.

I have tried "Trading Made Simple" and "X-Man's 4H Super Simple System", both which also uses the TDI. Both of these methods are proven with lots of traders having great success with it. My early assessment is that Arjun's 4HR method works the best for me.

Was just hoping there is someone else out there who has some experience or knowledge on Arjun's 4HR method, which they could share.

Thank you
  • #20,257
  • Edited 2:52pm Mar 13, 2013 11:41am | Edited 2:52pm
Quoting pkimnyc
keep it to yourself.
I hear ya buddy, loud and clear! Just feel sorry for those wiping out their accounts sometimes. Oh well....
  • #20,258
  • Mar 13, 2013 12:03pm Mar 13, 2013 12:03pm
  •  Hcp
  • | Joined Feb 2008 | Status: Everything Has the Meaning You Give | 74 Posts
Thank you Vantage and pKimnyc for comments that trade, your allways wellcome, yes your right. should have entered at the close of the next down canddle, its... didn t want to lose that trade and hurry out of time.
thank you again.
  • #20,259
  • Mar 13, 2013 3:11pm Mar 13, 2013 3:11pm
Quoting jordfx
I hear ya buddy, loud and clear! Just feel sorry for those wiping out their accounts sometimes. Oh well....
Anyway Jordfx, should you decide to launch a new thread with your method, please provide a link here - I am sure a lot of people will appreciate this.
Thanks.
  • #20,260
  • Mar 13, 2013 3:30pm Mar 13, 2013 3:30pm
Quoting jordfx
I think the challenges most newbies are facing is the lack of clear cut entry, stop, exit rules, apart from '...enter when candle closes below 10e!...'. I know some are just plain lazy and don't want to put in the effort, but I believe some are just genuinely stomped as to how to make 'CONSISTENT' profits. How to keep it Simple? Define the rules? Experience traders somehow know what to look out for and consistently make pips after so much backtesting, forward testing and training the eye. Subsequent to which not many are still interested in posting...
Price action may not give you enough information about the underlying momentum and volume behind particular moves, but throwing a MACD or RSI on your screen won't give you any further insight. Technical analysis has it's limitations. Sure you can do very well using it alone, but there's only so much you can derive from a chart. Explosions of volatility do not occur because of a fib level, ema, MACD divergence, pin bar, or whatever else you want to use.
What is any ocean but a multitude of drops?
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