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Another simple system - Time-Frame 15

  • #26,121
  • Nov 18, 2015 11:57pm Nov 18, 2015 11:57pm
Quoting trade786
hey thanx pipsninja how do I get the multitimeframe ema
Please read post# 26,093 and post#26,094. You have got to do your homework first before you can start. After studying the material, then do a minimum of 300 demo trades, no short cuts. Happy Pipping.
Trading can't be taught but it can be learned
  • #26,122
  • Edited 3:27am Nov 19, 2015 12:13am | Edited 3:27am
EU Long trade, trading before LO is very risky. Trades that have more than one supporting reason (confluence) have a better chance of survival and reaching + pips. Don't forget to look left and see what price did in your area of interest before.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDcsfxM5 10.png Size: 32 KB
Trading can't be taught but it can be learned
  • #26,123
  • Edited 1:30am Nov 19, 2015 12:27am | Edited 1:30am
You can't keep on taking a trade from the same important level over and over again. The next area that I will be interested in is the lower yellow zone. The MAs are dynamic so you can't set a pending order also this is M5 trading so you got to actively manage your trades.

This isn't a trade call and may fail. If price gets near there, I will be looking. The way price gets there, News or other factors may cause a NO Trade for me. There are No 100% setups in M5, just high probability opportunities.
Attached Image
Trading can't be taught but it can be learned
  • #26,124
  • Nov 19, 2015 1:04am Nov 19, 2015 1:04am
Advanced setup. A counter trend (CT) trade, support flip to resistance. You got to be swift in profit taking when doing CT trades on M5 and not recommended if you are new to M5 trading, just showing the possibilities.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDcsfxM5 10.png Size: 39 KB
Trading can't be taught but it can be learned
  • #26,125
  • Nov 19, 2015 1:35am Nov 19, 2015 1:35am
Quoting Pipsninja
EU Long trade, trading before LO is very risky. Trades that have more than one supporting reason (confluence) have a better chance of survival and reaching + pips. Don't forget to look left and see what price did in your area on interests before. {image}
Nice trade! You got in at the very low. What is your SL here?

Best,
  • #26,126
  • Nov 19, 2015 1:55am Nov 19, 2015 1:55am
The reason I took profit on my second trade where I did and didn't take profit at or near 4HR 10 EMA is first look left ( middle yellow box) and second there was no guarantee that price would reach 4HR 10 EMA. Only the possibility!

I had to adjust the lowest yellow box since MAs are dynamic and move as price moves. I went long with a clear target in mind (middle yellow box). As it got closer to LO, I didn't want to be shaken out of my trade so was flexible and took profit swiftly.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDcsfxM5 01.png Size: 40 KB
Trading can't be taught but it can be learned
  • #26,127
  • Edited 12:08pm Nov 19, 2015 2:02am | Edited 12:08pm
Quoting tibovwh
{quote} Nice trade! You got in at the very low. What is your SL here? Best,
Thanks, my SL was 8 pips. I don't know if you can see the little red SL line on my charts. My SL varies between 8-14 pips and at times since I actively manage my trades my original SL may be larger by a few pips than my final TP, but I move SL to BE after I am in profit. There is no exact SL and TP levels formula in M5. If SL on a potential trade setup is going to be too large and TP potential too small, I just don't take the trade.
Trading can't be taught but it can be learned
  • #26,128
  • Nov 19, 2015 2:41am Nov 19, 2015 2:41am
Mr BE got a hold of me. I don't win every trade.
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Trading can't be taught but it can be learned
  • #26,129
  • Nov 19, 2015 2:44am Nov 19, 2015 2:44am
just scalping
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the cautious seldom err....C
  • #26,130
  • Edited 3:30am Nov 19, 2015 2:52am | Edited 3:30am
M15 GU trade for M15 purists. After this many (X number) trades/pips, I am done for today. Happy Pipping.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDcsfxM15.png Size: 45 KB
Trading can't be taught but it can be learned
  • #26,131
  • Nov 19, 2015 2:58am Nov 19, 2015 2:58am
Quoting Pipsninja
M15 GU trade for M15 purists. After this many (X number) trades, I am done for today. Happy Pipping. {image}
Very nice trade examples! For how many pips do you aim at these trades?
  • #26,132
  • Nov 19, 2015 3:09am Nov 19, 2015 3:09am
a scalp that finally worked out..took profit as red news soon
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYmicroM15.png Size: 54 KB
the cautious seldom err....C
  • #26,133
  • Edited 12:10pm Nov 19, 2015 3:21am | Edited 12:10pm
Quoting Pipsalon
{quote} Very nice trade examples! For how many pips do you aim at these trades?
Thanks, M15 trades 15-25 pips. For M5 trades you can't set TP in stone and at times I may cut a trade before reaching TP due to price behavior change, experience or intuition. TP in M5 is an art but 8-14 pips would be a good ballpark figure. For M5 trading guidelines, please read post #26,093 and 26,094 if you haven't already.
Trading can't be taught but it can be learned
  • #26,134
  • Nov 19, 2015 3:35am Nov 19, 2015 3:35am
kept this and closed it during the news
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the cautious seldom err....C
  • #26,135
  • Nov 19, 2015 7:12am Nov 19, 2015 7:12am
Pips29 and Pipsninja you both are legend
  • #26,136
  • Edited 9:27am Nov 19, 2015 8:44am | Edited 9:27am
Quoting Subrina_FX
Pips29 and Pipsninja you both are legend
Thanks for the compliment. I am just an apprentice. Missing your fantastic big pip trade charts Subrina FX.
Trading can't be taught but it can be learned
  • #26,137
  • Edited 1:41am Nov 20, 2015 1:15am | Edited 1:41am
Took a short trade, News (Not Red News) helped. I posted a zoomed out chart, so you can see PA better.

Advanced Setup: Why did I take a short trade there? Price between Day 10 EMA and 4HR 10 EMA and with upcoming Draghi speech I was expecting price to be ranging.

I decided Not to take the TOUCH trade from the lower yellow zone ( RN+ 4HR 10 EMA + look left zone)! The reason being the way price arrived to that area, big candle showing momentum. We just can't take trades from important levels left and right!

I hope that you see each trade taken is based on a plan and reason(s). Do my plans fail? YES.

Draghi speaking in less than hour so No trading for me 30 minutes before.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDcsfxM5 100.png Size: 46 KB
Trading can't be taught but it can be learned
  • #26,138
  • Nov 20, 2015 1:17am Nov 20, 2015 1:17am
Quoting Subrina_FX
Pips29 and Pipsninja you both are legend
thks for the compliment...like ninja, I am just an apprentice...a quickie on the 5 min
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDmicroM5.png Size: 54 KB
the cautious seldom err....C
  • #26,139
  • Nov 20, 2015 1:34am Nov 20, 2015 1:34am
M15 EA short trade for the M15 purists. Tons of resistance on top+Arjun candle+ TL break. Closed this trade due to getting close to the 30 minute Draghi speech time. I am done until after the speech.
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDcsfxM15.png Size: 55 KB
Trading can't be taught but it can be learned
  • #26,140
  • Nov 20, 2015 1:38am Nov 20, 2015 1:38am
another quickie on the 5 min
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADmicroM5.png Size: 54 KB
the cautious seldom err....C
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