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Another simple system - Time-Frame 15

  • #22,201
  • Aug 21, 2013 9:42pm Aug 21, 2013 9:42pm
Quoting philemon123
hi guys nice work you are doing keeping the thread alive. I have been practicing this system for the past 6months,i even trippled my demo account using this system,when i backtest using the strategy tester i get 80%-85% win rate,i recently opened a live account and i am not making profits,i lost 10% of the account,since then i am just at break even,its not moving up and not going down,i am becoming frustrated because i gain some pips and give them all back,yesterday i had a 35 pip win,today i have already lost 25 pips,Right now i am reading books...
I dont know if this will be an answer for you, but i usually trade with 5mins with target range 5 to 10pips, this is more realistic as for scalpers, but i personally only target 5pips. BUT never forget to check outcoming data, i close with -60pips on AUD/USD because there was Chinese data and i totally forget about it. Sometime, you have to learn the lesson in a hard way. Plus, demo never really gives the phscyological touch, as money in there is not real. First reduce your earning pips, secondly trade with one pair and lastly, NEVER PUT EMOTIONAL FEELING into losing trade, figure out why and move on. Hope this helps.
Logics do not apply in FOREX
  • #22,202
  • Aug 22, 2013 2:40am Aug 22, 2013 2:40am
Quoting stevepatt
{quote} Hi Philemon, Take a look at this http://www.youtube.com/watch?v=ew1L6...eature=related I don't know if it has been posted here before. Did you go through similar periods when demo trading? Every system goes through ebbs and flows if you are following the system rules exactly as you where when demo trading it should come good. The whole idea of demo trading is to keep detailed records of each trade so you can see the average draw down the amount of winners and losers in a row ect. Like the guy says in the presentation, before...

thanks stevepatt and everybody for your replys,its been really helpful,took a break from trading yesterday to go through my journal and came up with rules of taking profit,i usually cut my losses short and i also cut my profits short,i think thats why my account was not growing.

Can anybody share some excercises you do before trading eg meditation and the rest.
  • #22,203
  • Aug 22, 2013 3:30am Aug 22, 2013 3:30am
does anyone has an EA for this system
  • #22,204
  • Aug 22, 2013 4:39am Aug 22, 2013 4:39am
Quoting philemon123
{quote} thanks stevepatt and everybody for your replys,its been really helpful,took a break from trading yesterday to go through my journal and came up with rules of taking profit,i usually cut my losses short and i also cut my profits short,i think thats why my account was not growing. Can anybody share some excercises you do before trading eg meditation and the rest.
Sleep well, nothing more. Having a fresh mind is the best way to trad
Logics do not apply in FOREX
  • #22,205
  • Aug 22, 2013 4:44am Aug 22, 2013 4:44am
Quoting brath
does anyone has an EA for this system
there is no EA for the system you just have to study the thread to understand it.You can download pdfs from the thread that summarize the whole system and study them.hope this helps.

if you are a scalper you can download x-mans posts

if you hold for longer times you can download gabrils posts.
  • #22,206
  • Aug 22, 2013 5:04am Aug 22, 2013 5:04am
Quoting stevepatt
{quote} Hi Philemon, Take a look at this http://www.youtube.com/watch?v=ew1L6...eature=related I don't know if it has been posted here before. Did you go through similar periods when demo trading? Every system goes through ebbs and flows if you are following the system rules exactly as you where when demo trading it should come good. The whole idea of demo trading is to keep detailed records of each trade so you can see the average draw down the amount of winners and losers in a row ect. Like the guy says in the presentation, before...
Thanks again stevepatt,watched the video and started applying it and made 23 pips today.

today i just waited for the 10ema bounces placed my stop and take profit and walked away came back and found that i have made the pips.i have started risking only 1% of my account because i do not worry about the trade if i do that.
  • #22,207
  • Aug 22, 2013 5:07am Aug 22, 2013 5:07am
Hi Philemon123, I recommend you to read the following e-book which was posted by RJ on his thread.
Attached File(s)
File Type: pdf EmotionFreeTradingBook (1).pdf   484 KB | 863 downloads
Trading can't be taught but it can be learned
  • #22,208
  • Aug 22, 2013 5:45am Aug 22, 2013 5:45am
CHF/JPY 2 trades in a row, 1 lose, the other one win, +12pips
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  • #22,209
  • Aug 22, 2013 10:59am Aug 22, 2013 10:59am
GJ half position closed 23 pips .....

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JacekPreserve Precious Capital
  • #22,210
  • Aug 22, 2013 3:03pm Aug 22, 2013 3:03pm
EJ ....23 pips
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JacekPreserve Precious Capital
  • #22,211
  • Aug 22, 2013 11:14pm Aug 22, 2013 11:14pm
35 pips... 50% closed UC
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JacekPreserve Precious Capital
  • #22,212
  • Aug 22, 2013 11:35pm Aug 22, 2013 11:35pm
Quoting philemon123
{quote} there is no EA for the system you just have to study the thread to understand it.You can download pdfs from the thread that summarize the whole system and study them.hope this helps. if you are a scalper you can download x-mans posts if you hold for longer times you can download gabrils posts.
Why is it that people always want an EA for something? And I do ask the question in all seriousness. Is it because they see a really long thread and they just do not want to read it to understand the concepts, or do they just not enjoy trading and want something to run in the background to automatically generate them buckets of cash. I often get baffled by this and would enjoy hearing some of your responses from this group.
  • #22,213
  • Aug 23, 2013 12:46am Aug 23, 2013 12:46am
Quoting fxmaster74
{quote} Why is it that people always want an EA for something? And I do ask the question in all seriousness. Is it because they see a really long thread and they just do not want to read it to understand the concepts, or do they just not enjoy trading and want something to run in the background to automatically generate them buckets of cash. I often get baffled by this and would enjoy hearing some of your responses from this group.
Answering your question -- Greediness combine with laziness is a key... I think
JacekPreserve Precious Capital
  • #22,214
  • Aug 23, 2013 1:22am Aug 23, 2013 1:22am
EJ fast 18 pips...
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JacekPreserve Precious Capital
  • #22,215
  • Aug 23, 2013 1:31am Aug 23, 2013 1:31am
UC second half ... 50 pips
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JacekPreserve Precious Capital
  • #22,216
  • Aug 23, 2013 1:43am Aug 23, 2013 1:43am
Quoting Jackub
UC second half ... 50 pips {image}
hey 2 quick questions. #1 is this what you are doing for your career? and do you trade tokyo session more than london?
  • #22,217
  • Aug 23, 2013 1:46am Aug 23, 2013 1:46am
Quoting fxmaster74
{quote} Why is it that people always want an EA for something? And I do ask the question in all seriousness. Is it because they see a really long thread and they just do not want to read it to understand the concepts, or do they just not enjoy trading and want something to run in the background to automatically generate them buckets of cash. I often get baffled by this and would enjoy hearing some of your responses from this group.

is there a pdf somewhere in here that explains the entire system and all the trading techniques?
  • #22,218
  • Aug 23, 2013 1:50am Aug 23, 2013 1:50am
Quoting xfatboi
{quote} hey 2 quick questions. #1 is this what you are doing for your career? and do you trade tokyo session more than london?
HI,
I am jobless person....
concerning trading time I am ussualy 5 GMT till end of London, sometime two hours more, I am not sticked to the computer, I am cooking , walking along the beach...
The Tokyo sesion is only in the case when I left something for next day, like to see whats cooking. As you see I dont have many loooong trades, I love to find nice places for entries,
JacekPreserve Precious Capital
  • #22,219
  • Aug 23, 2013 1:58am Aug 23, 2013 1:58am
Quoting xfatboi
{quote} is there a pdf somewhere in here that explains the entire system and all the trading techniques?
read first 5-10 pages, if you like it go for next 100, plenty of condensated knowledge you will find in there
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last one is and oldes file start there
JacekPreserve Precious Capital
  • #22,220
  • Aug 23, 2013 3:11am Aug 23, 2013 3:11am
Hi everyone,i want to start posting my trades so that i could share my views of how i understand the system.I would like all senior members to correct me where i am wrong,i trade daily and 4hr 10ema bounces,entries are in the 15min and sometimes 5min.I keep a SL of 10 pips and TP of 10pips,i keep on reducing my stop as the trade goes along and also depending on where i enter.

took this one for 10 pips just now,it was a bounce off the daily 10ema.
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