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Another simple system - Time-Frame 15

  • #20,741
  • Apr 8, 2013 12:46pm Apr 8, 2013 12:46pm
Quoting Jackub
Stay cool and do not push to much bcoz you will overtade and it will be painfull... I am on, but stop trading few hours ago, according to my plan, dont need to take 10 trades a day, two will be enough, 40 pips a day if consistent can make a lot in longer term. The magic word in this phrase is "consistency"
Thanks for the comment Jackub. And also thanks for reminding me that's its already 12.45am here in my place.
Am going to sculp the trade I just took.
I just found out that I am sleepy already
  • #20,742
  • Apr 8, 2013 12:55pm Apr 8, 2013 12:55pm
Quoting sapong
Thanks for the comment Jackub. And also thanks for reminding me that's its already 12.45am here in my place. Am going to sculp the trade I just took. I just found out that I am sleepy already
Worth waiting for an extra exact 8 minutes!! I failed to sculp the trade. But I successfully banked 15pips more! The priced reached my TP.

GOD BLESS everyone here in this thread!

70pips profited today. I think that's more than enough.
  • #20,743
  • Apr 8, 2013 12:58pm Apr 8, 2013 12:58pm
Argh should have take this too. Was a bit less confident with this trade, and finally I ended up not taking it.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpym15 aaa.png Size: 40 KB
  • #20,744
  • Apr 8, 2013 1:02pm Apr 8, 2013 1:02pm
My instincts tells me that this will go for a short by looking at the green TDI line.

Question is, how long will that green line stay up there?
Attached Image (click to enlarge)
Click to Enlarge Name: over bought.png Size: 38 KB
  • #20,745
  • Apr 8, 2013 1:11pm Apr 8, 2013 1:11pm
GBPJPY m15
The RN above is blocking the price to go up. I smell something here
  • #20,746
  • Apr 8, 2013 1:13pm Apr 8, 2013 1:13pm
Quoting sapong
My instincts tells me that this will go for a short by looking at the green TDI line. Question is, how long will that green line stay up there? {image}
You can see last candle is white but open is is lower then close, maybe retrace began, next candle will tell us...
JacekPreserve Precious Capital
  • #20,747
  • Apr 8, 2013 1:22pm Apr 8, 2013 1:22pm
Quoting Jackub
You can see last candle is white but open is is lower then close, maybe retrace began, next candle will tell us...
ADR high and resistance line is about 25pips above the current price in my chart.
It won't go far above.
And the candle looks like its running out of gas
  • #20,748
  • Apr 8, 2013 1:26pm Apr 8, 2013 1:26pm
Quoting sapong
ADR high and resistance line is about 25pips above the current price in my chart. It won't go far above. And the candle looks like its running out of gas
You should put indicator showing time left to candle close, very usefull
Attached File(s)
File Type: ex4 Candle Time & Spread.ex4   4 KB | 302 downloads

Attached File(s)
File Type: mq4 Candle Time & Spread.mq4   3 KB | 392 downloads
JacekPreserve Precious Capital
  • #20,749
  • Apr 8, 2013 1:27pm Apr 8, 2013 1:27pm
Ah US market ending in 2 hours 35 mins. Darn
That was fast
  • #20,750
  • Apr 8, 2013 1:28pm Apr 8, 2013 1:28pm
Quoting Jackub
You should put indicator showing time left to candle close, very usefull {file} {file}
Was looking for this indi for quite some time now! Thank you very much!
Question, which one should I use? the first one or the second one?
  • #20,751
  • Apr 8, 2013 1:30pm Apr 8, 2013 1:30pm
Quoting sapong
Was looking for this indi for quite some time now! Thank you very much! Question, which one should I use? the first one or the second one?
put both of them to indicators folder, and change colour to usefull one
JacekPreserve Precious Capital
  • #20,752
  • Apr 8, 2013 1:34pm Apr 8, 2013 1:34pm
I smell GOLD bars melting. XAUUSD
well no signals detected yet. And the prices are stuck between 800EMA and 200EMA. We shall wait and see will the gold melt or freeze

Loveevery1 says : Patience PAYS
  • #20,753
  • Apr 8, 2013 1:34pm Apr 8, 2013 1:34pm
Quoting Jackub
put both of them to indicators folder, and change colour to usefull one
Thank you very much
  • #20,754
  • Apr 8, 2013 1:38pm Apr 8, 2013 1:38pm
EURUSD : Slow movements = STAY OUT
GBPUSD : Approaching 200EMA = 200EMA rule says : STAY OUT of the 200EMA for newbiess (like me)
EURJPY : Waiting for confirmation
GBPJPY : Waiting for confirmation
  • #20,755
  • Apr 8, 2013 1:41pm Apr 8, 2013 1:41pm
Many traders are able to make some money when their setups
occur, but then give their profits back when the market goes
into CONSOLIDATION.
Choppy markets chop up your profits. Sometimes learning
when NOT to trade is just as important as knowing when to
trade.
Knowing your trading signals and when to trade is your
"offense." Knowing when NOT to take your trading signals
is your "defense."

To win at the trading game you need both a good offense
and a good defense.
  • #20,756
  • Apr 8, 2013 1:52pm Apr 8, 2013 1:52pm
Quoting jordfx
Many traders are able to make some money when their setups occur, but then give their profits back when the market goes into CONSOLIDATION. Choppy markets chop up your profits. Sometimes learning when NOT to trade is just as important as knowing when to trade. Knowing your trading signals and when to trade is your "offense." Knowing when NOT to take your trading signals is your "defense." To win at the trading game you need both a good offense and a good defense.
I wrote down every word you wrote in my diary.
  • #20,757
  • Apr 8, 2013 2:14pm Apr 8, 2013 2:14pm
The best way to filter out bad signals is to trade within a solid MARKET STRUCTURE of support & resistance/ supply & demand. IGNORE BUY SIGNALS AT RESISTANCE. If price wants to go higher there, wait for a breakout AND pullback, then you can take any continuation signals because that resistance has now become SUPPORT. Same thing goes for IGNORING SELL SIGNALS AT SUPPORT. How do you mark out these s/r, s/d zones? Look GU today. Why wouldn't you have taken the buy signal one hour after LO???(even though it would have still yielded 19pips).
  • #20,758
  • Edited 3:11pm Apr 8, 2013 2:43pm | Edited 3:11pm
I keep repeating. Identify the kind of market you're in for the day. Price usually does basically just two things. It's either RANGING(consolidation, accumulation, distribution, etc) OR It's CHANGING STATE( breakout, markup. mark down, etc). Identifying these market types helps you straighten out the LOGIC you need to trade for the day. Today EU was moving in a 70pip RANGE, easily tradable. On EJ price Action 3 hours into LO took out the bulls and defined the boundaries of an 80pip rising wedge RANGE. GJ was also in a clear 85pip RANGE. GU was in a 40pip RANGE until 15mins after LO, when there was a CHANGE OF STATE(breakout). NY also brokeout of the subsequent 30pip range after that. Of course this holds true within the context of the TIMEFRAME under analysis. A 100pip trend down on GU is actually a PULLBACK from a previous breakout on a higher timeframe. So it's all relative. Multi-timeframe analysis helps to define the BOUNDARIES within which we set STOPS and TARGETS during CHANGES IN STATE. Thats what LE1 tried to distil into the use of the Moving Averages by looking at price with respect to the 10ema on Daily TF first, and then on the lower timeframes. Not understanding these market behaviour and just jumping at signals will keep blowing your account. Guaranteed.
  • #20,759
  • Apr 8, 2013 3:15pm Apr 8, 2013 3:15pm
Quoting KengLeobard
Excuse me whether am I wrong. Last night I read through topics and got that Loveevery1 said he trade buy if ema200 found under price and he go sell if ema200 found above the price. Am I correct for this his?
depends on the market condition.
  • #20,760
  • Apr 8, 2013 7:31pm Apr 8, 2013 7:31pm
Quoting sapong
Would anyone would like to comment on any of my posts above? Well i'm a newbie so I would really love to know what was I doing and to check if I made any mistakes. Thanks in advance
chasing the move inside consolidations isn't my specialty. nice to see that you've been banking profits though,
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