Another simple system - Time-Frame 15 | Page 1083 | Forex Factory

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Another simple system - Time-Frame 15

  • #21,641
  • Jul 8, 2013 6:01am Jul 8, 2013 6:01am
Quoting BorisViven
Back to Basis Hi Guys, a simple "by the rules" trade, it follows the basic rules Master Arjun's teached to us since the beginning of this thread. the only difference is i didn't waited the m15 candle close to enter the trade. I closed it because we were reaching a supply zone. Perhaps the price will continue up, but Master Arjun teached to us that we don't have to be too greedy. Guys, a trade like that, with 15 pips SL and 2 % risk, increase your account by 4%... think about it. EURJPY +30 Peace dom ps : for those of you who have noticed the...
It's really a nice entry. Inverted head & shoulder pattern bouncing off daily 10EMA & 4H 10EMA.

Please continue sharing, my brother.
Accept as it is being!
  • #21,642
  • Jul 8, 2013 7:05am Jul 8, 2013 7:05am
Quoting Vnfx
{quote} It's really a nice entry. Inverted head & shoulder pattern bouncing off daily 10EMA & 4H 10EMA. Please continue sharing, my brother.
thanks a lot brother !
  • #21,643
  • Jul 8, 2013 7:16am Jul 8, 2013 7:16am
Quoting thaihoc
I SELL I GOT TP THEN PRICE DOWN LIKE CRAZY.. I GOT 20 PIP AND NO REGRETS// 20 PIP FOR A NEWBIE LIKE ME IS SUPER OKIE.. THANKS ALL OF YOU. {image}
I just wonder where is your SL?
Why don't you drag your trade from the history and drop it to your chart for better view and save your time to draw EP, SL, TP?
Accept as it is being!
  • #21,644
  • Jul 8, 2013 7:37am Jul 8, 2013 7:37am
Quoting Jackub
{quote} IMO it is very nice trade, and don't be reggreted, never, be grateful for what you did, you have great reason to be satisfy, you WON
Thanks, brother. You are 100% right.
Accept as it is being!
  • #21,645
  • Jul 8, 2013 7:59pm Jul 8, 2013 7:59pm
Can someone explain to me why this did not work?

Attached Image (click to enlarge)
Click to Enlarge Name: usdjpylol.png Size: 29 KB


I entered at breakout and it instantly goes backwards. According to this method, this should of worked...
  • #21,646
  • Jul 8, 2013 8:34pm Jul 8, 2013 8:34pm
Quoting Tok
Can someone explain to me why this did not work? {image} I entered at breakout and it instantly goes backwards. According to this method, this should of worked...
There is MA support below, price went there then rebounded.
Price is abv 200 MA so dont short according to method. But still you could have collected 15-20 pips had you sold at 200ema.

I am newbie but hope this helps. I had losing trades too today. Always happens to me on Mondays, guess brain is not oiled properly.

PS. I had to edit as I mentioned that there was also yesterdays low support but it wasn't as we are next day now.
  • #21,647
  • Jul 8, 2013 10:44pm Jul 8, 2013 10:44pm
Quoting Tok
Can someone explain to me why this did not work? {image} I entered at breakout and it instantly goes backwards. According to this method, this should of worked...
You again!? Did you not read what I wrote you in 100 Pips thread?

Just because a method says something should happen does not mean it will happen. In fact, in case you haven't found it out yet, I will tell you that absolutely nothing will work every time. Nothing. You can search for years and years, but nothing will ever work every time.

The idea behind trading is to find something that works more often that it does not work, and make more when it does work then what you lose when it doesn't work. I don't mean to be harsh, but the sooner you realize that consistency in approach and solid money management is the only holy grail that exists, the sooner you will start making serious money. I dare you to try a method for 1 month, taking signals exactly as they should be taken, without questioning (on demo), and see what the end result is. Perhaps you find it to be a poor method, perhaps you find it is excellent. Or perhaps you realize that you will learn something about how trading is done. Same thing, everyday.

Now as for your entry, in hindsight we can come up with 100 reasons why it didn't work. I assume you took a long at the right edge of your chart.

1) Breakouts are tough patterns to trade. They often fail, and it can be demoralizing. However, when they succeed, they often can go very far. However, again, where do you place your stop on a breakout? The only logical place is the swing high or low before the breakout and usually that is a long, long distance away. If you want to trade breakouts, which is perfectly acceptable trading method, I may suggest you try breakouts and a pullback (marked on chart). Breakout pullback would require a stop at the low of the signal candle which will be very tight for the most part and create a nice R:R.

2) Your breakout was not only a breakout of a horizontal level of resistance, but a declining trendline. Making it equally as attractive for re-entries into the short immediate trend so you are facing an uphill battle.

3) Your stop loss is very very tight. See point 1 again - trading breakouts will either require you to immediately respond the failed breakout and take a quick stop (without complaining as it is part of your plan), or to place your stop at a distance far enough away to give the breakout a chance to work after the pullback.

4) You entered on a long signal candle (coupled with higher volume). Long candles especially coupled with high volume will typically create a pullback following them.

5) I haven't really kept up with this thread, but I don't recall reading about breakouts, nor are you showing the TDI in your picture which I thought was an integral part of this system. Perhaps I am wrong here.

I suggest you look at trading failed breakouts as I marked on the chart. Much better risk for the potential reward. Only problem is there typically aren't any indicators that will help you with that. Do some reading about Al Brooks, if you haven't already. Price action trading with emphasis on good signal candles (the candlesticks themselves become the "indicator").

Anyway, all the best to you - don't search for the grail. Everything will fail at one point or another - its just the part of the business where you have to pay your expenses, like any other. Don't blame the system, and don't give up on everything after 1 try.
Attached Image (click to enlarge)
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Small disciplines repeated with consistency lead to great achievements.
  • #21,648
  • Jul 8, 2013 11:50pm Jul 8, 2013 11:50pm
Quoting Tok
Can someone explain to me why this did not work? {image} I entered at breakout and it instantly goes backwards. According to this method, this should of worked...
Welcome again,
You have to understand this is -- NO METHOD OF TRAIDING IS MOVING THE PRICE!!
JacekPreserve Precious Capital
  • #21,649
  • Jul 9, 2013 5:46am Jul 9, 2013 5:46am
I wait for the pullback and then open once it surpasses the "2" candle in the 123 method, yet this doesn't work either.

People say PA is king, yet it is extremely inaccurate.

Attached Image (click to enlarge)
Click to Enlarge Name: fuckthis.png Size: 22 KB


Price already pulled back, and surpassed the "2" candle. Yet it then retraces back AGAIN, taking out SL.

It's right there over and over for people to see, yet people keep trying to lie to me and say this rubbish works?
  • #21,650
  • Jul 9, 2013 7:36am Jul 9, 2013 7:36am
Quoting Tok
I wait for the pullback and then open once it surpasses the "2" candle in the 123 method, yet this doesn't work either. People say PA is king, yet it is extremely inaccurate. {image} Price already pulled back, and surpassed the "2" candle. Yet it then retraces back AGAIN, taking out SL. It's right there over and over for people to see, yet people keep trying to lie to me and say this rubbish works?
You see, all people here, we can say whole ForexFactory lie to you ( in fact only 13 threads so far)... let me ask a question.. can you read "Egyptian hieroglyphs" ??, I presume no... is that means Egyptian hieroglyphs are not readable or just YOU can not read them?? Do the arheologists lie becouse you can not read hieroglyphs??
JacekPreserve Precious Capital
  • #21,651
  • Jul 9, 2013 7:37am Jul 9, 2013 7:37am
Quoting Tok
I wait for the pullback and then open once it surpasses the "2" candle in the 123 method, yet this doesn't work either. People say PA is king, yet it is extremely inaccurate. {image} Price already pulled back, and surpassed the "2" candle. Yet it then retraces back AGAIN, taking out SL. It's right there over and over for people to see, yet people keep trying to lie to me and say this rubbish works?
I don't really understand what you are talking about. But you are very emotional. If it doesn't work for you, then find something that does. Stop coming to all these threads and telling the people that are trading successfully that their methods don't work.

How is PA innacurate??? What are you talking about? Price action is all there is - that's what the market is! You can use indicators to help clarify it for yourself, but price action is what is driving all the indicators!
Small disciplines repeated with consistency lead to great achievements.
  • #21,652
  • Jul 9, 2013 7:52am Jul 9, 2013 7:52am
Quoting jmflukeiii
{quote} I don't really understand what you are talking about. But you are very emotional. If it doesn't work for you, then find something that does. Stop coming to all these threads and telling the people that are trading successfully that their methods don't work. How is PA innacurate??? What are you talking about? Price action is all there is - that's what the market is! You can use indicators to help clarify it for yourself, but price action is what is driving all the indicators!
He already participated in 13 different threads and is very active, in few we met already, but his attitude everywhere is the same, "show me a system to make money" ... "I am not doing mistakes" ... "system is not working", "Or you have luck or just lying" etc, etc.. I am afraid we are not able to help person with such attitude, no one can..
JacekPreserve Precious Capital
  • #21,653
  • Jul 9, 2013 8:12am Jul 9, 2013 8:12am
Quoting Jackub
{quote} He already participated in 13 different threads and is very active, in few we met already, but his attitude everywhere is the same, "show me a system to make money" ... "I am not doing mistakes" ... "system is not working", "Or you have luck or just lying" etc, etc.. I am afraid we are not able to help person with such attitude, no one can..
What do you suggest I do?
  • #21,654
  • Jul 9, 2013 8:21am Jul 9, 2013 8:21am
Nice pinbar and i got tp 20 pip/ i remember it's a basic set up following the AJURI's rule. did anyone get it ?

http://charts.mql5.com/1/994/audusd-...arkets-ltd.png
TRy my best to learn
  • #21,655
  • Jul 9, 2013 8:21am Jul 9, 2013 8:21am
Quoting Tok
{quote} What do you suggest I do?
I strongly and really friendly suggest you to change your approach to trading, do not look faults around of you rather inside of you, and try to change your mindset... people here do not spent time here to lie to you, or to play with only to help to you... thats what I think.
JacekPreserve Precious Capital
  • #21,656
  • Edited 8:38am Jul 9, 2013 8:23am | Edited 8:38am
Quoting Tok
{quote} What do you suggest I do?
Well, if you are going to trade this system and post in it, then you should trade this system. Both charts from you don't have the TDI on them. Also, your entries and exits are not marked so its hard to discuss what you are doing. The poster just previous to me seemed to find a nice win by the basic rules. Reread the rules and then follow them. You did this on the 100 pips thread - you started making up all sorts of stuff about why you were exiting and doing various things that didn't have much to do with the system.
Small disciplines repeated with consistency lead to great achievements.
  • #21,657
  • Jul 9, 2013 8:24am Jul 9, 2013 8:24am
Quoting Jackub
{quote} I strongly and really friendly suggest you to change your approach to trading, do not look faults around of you rather inside of you, and try to change your mindset... people here do not spent time here to lie to you, or to play with only to help to you... thats what I think.
I don't want to use the TDI of this strategy and instead just PASR.

I have read many websites on PA and learned candlestick formations, but on the charts, it seems they never work out.

What do you suggest I read to get better?
  • #21,658
  • Jul 9, 2013 8:34am Jul 9, 2013 8:34am
Attached Image (click to enlarge)
Click to Enlarge Name: abab.png Size: 30 KB


I see a valid 123/break entry on this candle.

Am I correct?

Should I enter once the candle closes, or the second it surpassed the "number 2" candle?

1H and 4H charts in uptrend.
  • #21,659
  • Jul 9, 2013 8:36am Jul 9, 2013 8:36am
Quoting Tok
{quote} I don't want to use the TDI of this strategy and instead just PASR. I have read many websites on PA and learned candlestick formations, but on the charts, it seems they never work out. What do you suggest I read to get better?
WTF? Why are you posting here then?
Small disciplines repeated with consistency lead to great achievements.
  • #21,660
  • Jul 9, 2013 8:38am Jul 9, 2013 8:38am
Quoting jmflukeiii
{quote} WTF? Why are you posting here then?
A template was posted here, and people were discussing/posting charts while not using the TDI. I thought that's the direction the thread had taken.
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