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Another simple system - Time-Frame 15

  • #21,661
  • Jul 9, 2013 8:40am Jul 9, 2013 8:40am
Quoting Tok
{quote} 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.
There are any number of PA threads around this forum. If you would like to learn some more, read them. Read up on VSA at Trader's Laboratory. Read up on Wyckoff at Trader's Laboratory. Read up on Al Brooks - search Google for Nine Transitions Blogspot, excellent tutorial of using Al Brooks in a live setting, albeit on futures markets, but the same concepts apply to every market.

For the chart you just posted, why don't you draw lines on the chart, showing the pattern you are describing. Make it apparent what you are trying to show, and where you would possibly enter. Maybe if you get a little more involved in your chart observation, you will begin to answer some of the questions that you have.
Small disciplines repeated with consistency lead to great achievements.
  • #21,662
  • Jul 9, 2013 8:43am Jul 9, 2013 8:43am
Quoting jmflukeiii
{quote} There are any number of PA threads around this forum. If you would like to learn some more, read them. Read up on VSA at Trader's Laboratory. Read up on Wyckoff at Trader's Laboratory. Read up on Al Brooks - search Google for Nine Transitions Blogspot, excellent tutorial of using Al Brooks in a live setting, albeit on futures markets, but the same concepts apply to every market. For the chart you just posted, why don't you draw lines on the chart, showing the pattern you are describing. Make it apparent what you are trying to show, and where...
Just looked at the chart again, and while I was putting lines in, I found the issue! haha.
  • #21,663
  • Edited Aug 30, 2013 10:23pm Jul 9, 2013 8:45am | Edited Aug 30, 2013 10:23pm
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?
Please try this one...

Maybe you have already get this, but it is good stuff...
For me alawys was difficult TO APPLY KNOWLEDGE I already had....
this is a long process, takes time, a lot of time and work
You need , one system, not to much pairs (suggest one on the begining), BACKTEST system ,made few hundreds trades on backets to be familiar with the system, statisticks to compare results and analyze all failed trades (I do it next day)...
good luck
JacekPreserve Precious Capital
  • #21,664
  • Jul 9, 2013 8:52am Jul 9, 2013 8:52am
Quoting Jackub
{quote} Please try this one... {image} {image} Maybe you have already get this, but it is good stuff... For me alawys was difficult TO APPLY KNOWLEDGE I already had.... this is a long process, takes time, a lot of time and work You need , one system, not to much pairs (suggest one on the begining), BACKTEST system ,made few hundreds trades on backets to be familiar with the system, statisticks to compare results and analyze all failed trades (I do it next day)... good luck
Thanks Jackub - I haven't read these, looks to be a good read. But as you said, application of ideas is always the more difficult part! Especially when you thought you'd be driving a lamborghini after week 3 of trading
Small disciplines repeated with consistency lead to great achievements.
  • #21,665
  • Jul 9, 2013 8:54am Jul 9, 2013 8:54am
Quoting Tok
{image} 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.
Please find two entries marked on the chart, it would be nice if you could do this that way, its shows exactly on which candle close you took a trade, just vertical line and arrow from MT4 make this screenshot clear...

Attached Image (click to enlarge)
Click to Enlarge Name: eurjpym15.png Size: 41 KB
JacekPreserve Precious Capital
  • #21,666
  • Jul 9, 2013 8:57am Jul 9, 2013 8:57am
Quoting Jackub
{quote} Please try this one... {image} {image} Maybe you have already get this, but it is good stuff... For me alawys was difficult TO APPLY KNOWLEDGE I already had.... this is a long process, takes time, a lot of time and work You need , one system, not to much pairs (suggest one on the begining), BACKTEST system ,made few hundreds trades on backets to be familiar with the system, statisticks to compare results and analyze all failed trades (I do it next day)... good luck
Thank you. I will study these books.

Also, do you open a trade only once the break candle of a 123 pattern surpasses the high of the #2 candle, or do you do it while the candle is still open?
  • #21,667
  • Jul 9, 2013 9:02am Jul 9, 2013 9:02am
Example of a 123break pattern that may be unfolding. I have marked the candles of 123. Currently waiting for the break of candle #2, marked with a red horizontal line where long position will be taken.

Looks good?

Attached Image (click to enlarge)
Click to Enlarge Name: okai.png Size: 22 KB
  • #21,668
  • Jul 9, 2013 9:06am Jul 9, 2013 9:06am
Quoting Tok
Example of a 123break pattern that may be unfolding. I have marked the candles of 123. Currently waiting for the break of candle #2, marked with a red horizontal line where long position will be taken. Looks good? {image}
That picture is much more helpful, other than the arrow pointing down because I assume you'd go long there?
Small disciplines repeated with consistency lead to great achievements.
  • #21,669
  • Jul 9, 2013 9:09am Jul 9, 2013 9:09am
Quoting jmflukeiii
{quote} That picture is much more helpful, other than the arrow pointing down because I assume you'd go long there?
Yes. Once price hits that line, its the signal to go long.
  • #21,670
  • Jul 9, 2013 9:09am Jul 9, 2013 9:09am
Quoting Tok
{quote} Thank you. I will study these books. Also, do you open a trade only once the break candle of a 123 pattern surpasses the high of the #2 candle, or do you do it while the candle is still open?
Entry (secound) was based on Arjun (CT) rules candle closed , breaking 10EMA TDI indications "green" below "red" below" yellow" all of them sloping down in direction of the trade, target around RN 130.000. First entry clasical Arjun green above red above yellow and candle closed above 10EMA (candle showing bullish pressure (Doji pinbar) all above 200EMA
JacekPreserve Precious Capital
  • #21,671
  • Jul 9, 2013 9:10am Jul 9, 2013 9:10am
Quoting Vnfx
{quote} 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?
i tried to do it. i dont know much about these kind of thing. thanks your advice
TRy my best to learn
  • #21,672
  • Jul 9, 2013 9:13am Jul 9, 2013 9:13am
Quoting Tok
Example of a 123break pattern that may be unfolding. I have marked the candles of 123. Currently waiting for the break of candle #2, marked with a red horizontal line where long position will be taken. Looks good? {image}
It wasn't good place to trade take look on my screenshot

Attached Image (click to enlarge)
Click to Enlarge Name: eurjpym15.png Size: 42 KB


consolidation, we have to wait for BO of the consolidation , and the looking for opportunity
JacekPreserve Precious Capital
  • #21,673
  • Jul 9, 2013 9:30am Jul 9, 2013 9:30am
123BREAK!

20 pips!

These damn emotions are what kill you!
  • #21,674
  • Jul 9, 2013 9:32am Jul 9, 2013 9:32am
Quoting Tok
123BREAK! 20 pips! These damn emotions are what kill you!
JacekPreserve Precious Capital
  • #21,675
  • Jul 9, 2013 9:35am Jul 9, 2013 9:35am
anyone take this trade.. ????????????

http://charts.mql5.com/1/995/gbpusd-...arkets-ltd.png
TRy my best to learn
  • #21,676
  • Jul 9, 2013 9:39am Jul 9, 2013 9:39am
Quoting Jackub
{quote}
Are there any other good formations besides the 123break that I could study?
  • #21,677
  • Jul 9, 2013 10:04am Jul 9, 2013 10:04am
Hi !

I'm not a smart guy : It tooks me about 5 years of screentime to learn patience...
In trading, we just have to wait the good setup, simple lesson but hard to learn, for me
and we all know the setup because we already seen it hundreds of time........

EURJPY
+73

I took profit at the daily 1.27 fib expansion

Take care guys
dom
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY_M15_2.png Size: 2 KB
Attached Image
  • #21,678
  • Jul 9, 2013 10:08am Jul 9, 2013 10:08am
Quoting BorisViven
Hi ! I'm not a smart guy : It tooks me about 5 years of screentime to learn patience... In trading, we just have to wait the good setup, simple lesson but hard to learn, for me and we all know the setup because we already seen it hundreds of time........ EURJPY +73 I took profit at the daily 1.27 fib expansion Take care guys dom {image} {image}
Can you tell me why you took this trade?
  • #21,679
  • Jul 9, 2013 1:40pm Jul 9, 2013 1:40pm
Quoting Tok
{quote} Can you tell me why you took this trade?
HI Tok,

this trade is simply "by the rules" Master Arjun create
you can find the rules at he beginning of this thread,

the higher TF was also lined up

Hope this helps

Peace
dom
  • #21,680
  • Jul 9, 2013 2:29pm Jul 9, 2013 2:29pm
Quoting BorisViven
{quote} HI Tok, this trade is simply "by the rules" Master Arjun create you can find the rules at he beginning of this thread, the higher TF was also lined up Hope this helps Peace dom
Hi BorisViven,

Great trade . Can you please explain which higher TFs and how you analysed them for this trade.
For eg. on M15 it was abv 200ema and what made you short it. And what other TFs you look at.

Thanks.
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