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Another simple system - Time-Frame 15

  • #24,861
  • Edited 1:10am Jul 22, 2015 12:57am | Edited 1:10am
Waiting for clear signal on AC
15min candle not closed and PA has not violated 10EMA
TDI is beginning to turn south

Edit after 11min of waiting no trade so far.She is holding on to 96.Not forcing a trade.Moving on.
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In trading, you have to be defensive and aggressive at the same time
  • #24,862
  • Jul 22, 2015 3:09am Jul 22, 2015 3:09am
Quoting X-Man
{quote} not a perfect execution but it is a good execution. Perfect execution for me with this method is to take the trade right at the bounce of the 10ema and set a SL under 5 pips. now to do that 1 needs loads of practice because i guarantee you that skill wont come in a day.
Hi, X!

So you would trade a live candle as soon as it gets rejected, but it is not closed yet? Did I get it right?
  • #24,863
  • Jul 22, 2015 3:13am Jul 22, 2015 3:13am
I took this trade a few minutes ago, and it was a loss. I took it on the close of the bullish candle, and the SL was under it. As you can see, the bearish candle took me out. Does anyone think that was a bad entry?
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  • #24,864
  • Jul 22, 2015 3:54am Jul 22, 2015 3:54am
I took 1/3 off a/u (1-2-3 pattern seldom fails)
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the cautious seldom err....C
  • #24,865
  • Jul 22, 2015 4:06am Jul 22, 2015 4:06am
daily chart of oil.....oil is getting cheaper everyday and I won't be surprised price gets down to 47.50 and by the look of it ,soon
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the cautious seldom err....C
  • #24,866
  • Jul 22, 2015 4:10am Jul 22, 2015 4:10am
Quoting catalin_eros
I took this trade a few minutes ago, and it was a loss. I took it on the close of the bullish candle, and the SL was under it. As you can see, the bearish candle took me out. Does anyone think that was a bad entry? {image}
take a look at higher time frame and decide which is better, to long or to short, just my opinion
the cautious seldom err....C
  • #24,867
  • Jul 22, 2015 4:18am Jul 22, 2015 4:18am
Second attempt, with SL 5 pips under the entry candle, and TS of 12 pips.
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  • #24,868
  • Jul 22, 2015 4:21am Jul 22, 2015 4:21am
Quoting pips29
{quote} take a look at higher time frame and decide which is better, to long or to short, just my opinion
Thanks, Pip!

The 4H shows bullish trend, so I think it was a good decision going long.
  • #24,869
  • Jul 22, 2015 4:34am Jul 22, 2015 4:34am
Hello Emmanuel7788,
Significant 7788 there, isn't it.

In the days that I was actively trying to get my head around this method, there was so much hype that some people did not "have the time or is it inclination" to answer a very simple question that I posted. Everyone participated in drawing arrows (after the fact) indicating the long spikes from whence the trade should be taken, etc.

I am the first to admit that I have always believed that the M-15 TF has the most false signals and therefore I was more than cautious after 12 years of trading experience.

Now here is a screen-print of this morning's GBPUSD-M15 and my questions are for your kind perusal and comments:

1. When do you take the trade? At the close of the "long-legged"-candle?
2. How do you interpret my annotations marked?

Finally, my 10-ema and 200-ema is accompanied by Trend Envelopes of the same setting.

Thank you for replying.

Continued success to all.
Attached Image (click to enlarge)
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Hercs
  • #24,870
  • Jul 22, 2015 4:39am Jul 22, 2015 4:39am
Stopped out, AGAIN... Why isn't it working? I am doing it by the rules. Very frustrated right now.
  • #24,871
  • Jul 22, 2015 4:47am Jul 22, 2015 4:47am
Gone long on Gu, 15M Already in a 28 pip loss from 3 losing trades. Let's see how this one works out.
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  • #24,872
  • Edited 5:29am Jul 22, 2015 5:18am | Edited 5:29am
set a pending sell on e/u..edit: triggered
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the cautious seldom err....C
  • #24,873
  • Jul 22, 2015 5:29am Jul 22, 2015 5:29am
long u/cad
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the cautious seldom err....C
  • #24,874
  • Jul 22, 2015 5:37am Jul 22, 2015 5:37am
Quoting pips29
set a pending sell on e/u..edit: triggered {image}
is this a right counter trend set up? the red line candle

is the rule of counter trend trade met? thanks all
Attached Image (click to enlarge)
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TRy my best to learn
  • #24,875
  • Jul 22, 2015 5:38am Jul 22, 2015 5:38am
I had a TS of 12 pips on GU, so I made only 3 pips profit.
  • #24,876
  • Jul 22, 2015 5:55am Jul 22, 2015 5:55am
seeing some supply here on the 1 hour chart
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the cautious seldom err....C
  • #24,877
  • Jul 22, 2015 5:56am Jul 22, 2015 5:56am
Quoting thaihoc
{quote} is this a right counter trend set up? the red line candle is the rule of counter trend trade met? thanks all {image}
Try not to trade counter-tend whilst you are learning. It's dangerous since you are still learning and hard to make back losses when you become accustomed to trading against the trend.
  • #24,878
  • Jul 22, 2015 6:05am Jul 22, 2015 6:05am
Quoting thaihoc
{quote} is this a right counter trend set up? the red line candle is the rule of counter trend trade met? thanks all {image}
I am basing my entry as a 1-2-3 pattern on the 1 hour....it's not the method used here...it's a C/T trade on lower time frame but not on higher time frame...It's best to stick to what Ivanyo said above
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the cautious seldom err....C
  • #24,879
  • Jul 22, 2015 6:06am Jul 22, 2015 6:06am
Long on UC, 15M.
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  • #24,880
  • Jul 22, 2015 6:10am Jul 22, 2015 6:10am
Quoting thaihoc
{quote} is this a right counter trend set up? the red line candle is the rule of counter trend trade met? thanks all {image}
that entry is very early...my entry is the break of the low and not as early as the one marked on your chart..gl with your trade
the cautious seldom err....C
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