Another simple system - Time-Frame 15

Advanced Order Flow setup: First green box, order consumption at an important level (4HR 10 EMA) then price broke out and got rejected. It moved into the second green box and order consumption continued then price moved down out of this box so I joined in.

The fake move up is the way MMs trick buyers into buying when their actual intention is to move price further down. If after my entry price hadn't moved down quickly, I would have gotten out.

I've not found time to post during this week, I've only traded 3 days due to the day job.
Generally happy with the week, just totted up and I've netted 173 pips in the 3 days, which considering there's a couple of trades I realise in hindsight I shouldn't have taken, I think is pretty good, at least for me anyway.
First two charts include my 2 losers for the day, where I have marked up the charts to show that these were trades that I now see I shouldn't have taken. Fortunately both these pairs showed trades later in the day to recover those losses

The rest of the charts are my other winners, which makes 7 winners and two losers, around 75 pips for the day.

You will see that I take the KISS approach and stick as close as possible to LE1's basic set ups. Looking back at the charts there were at least a couple of other trades in the NY session that for reasons I can't now see, I chose not to take, so could have pulled over 100 for the day

Hmmmm, reaction to the green zone.

I have received several PMs, people asking questions regarding Order Flow and Order Consumption.

To explain it in simpler terms. A trade has a higher probability of success ( BOUNCE) if it reaches an Important Level as shown on the left diagram (A) as long as there are NO unusually Big Candles on the approach. If price reaches an Important Level like shown in diagram (B) then it has a very low probability of success.

There are people who say that Big Banks and FX trading desks don't use 10 EMA, 4 HR 10 EMA, DAY 10 EMA , etc. I have never worked at a Bank or a Trading Desk but I have to agree with them.

Price moves in waves and it ranges almost 70% of the time so the chance of price visiting (retrace, retest) the same zone(s) is very likely. There are zones that have a higher probability of getting re-visited. It is our job to design a trading system that locates those zones and then trade those zones.

Some can recognize these zones without indicators and some need the aid of indicators to see these zones. The indicators are just the line in the sand for us. Do they fail sometimes? YES. Do we have to use discretion when trading these level? Absolutely.

Loveevery1 (LE1) the thread starter has shared such a system with us here. Thank you LE1, God Bless You.

Hi sir, can you please share your template with us.

Thanks and have a great weekend

On my M15 charts, I use the following indicators: 10 EMA (Blue), 200 EMA (Magenta), 800 EMA (Yellow), Synergy_APB, SimpleEMA, Round Numbers 5 digit, !SM_ADR Marker, TDI-RDI-Clone

On my M5 charts, I use the following indicators: 30 EMA (Blue), 200 EMA (Magenta), Synergy_APB, SimpleEMA, Round Numbers 5 digit, !SM_ADR Marker

EMA= Exponential Moving Average

All the above indicators have been posted many times on this thread. A journey of a 1000 miles begins with a single step.

I got the following question via PM.

I have been reading the thread but recently start using the M15 although I have been trading TMS H1 with some success. I understand the rules from first LE1 post but I still don't understand what time we should close the bad trade. For TMS H1 I use candle color change exit. Do we wait for TDI to cross again or PA to close under/above 10EMA. Thanks in advance

Thanks for your question. Let me ask you the following question. If you are having some success with H1 why would you want to trade M15? Keep on refining your H1 trading skills and improve your win rate.

In M15, you get price crossing 10 EMA and TDI crossing up/down more often than H1 and thus getting false signals more often than H1 based on my experience! Price action comes first then TDI.

In M15 trading, If you set you SL and TP, Risk to Reward (r:r) to 1:1 then you have got to win at least 50% of the time just to breakeven (BE) not considering other costs. There are some who employ a r:r of 1:2, 1:3 meaning TP larger than SL.

There are others who initiate a trade with a r:r of 1:1 but actively manage their trades and take profit near next logical support or resistance (S or R) level. When the S/R level is too close to initial entry ( too much traffic ahead) and gives you r:r of less than 1:1, then they don't take that trade. They move SL to BE after being up by X many pips. They may close a trade before it hits SL or TP due to experience . This is the way I manage my trades.

The thread starter, Loveevery1 (LE1) in order to keep it simple, started a trade with r:r of 1:1 and moved SL to BE after being up by X many pips. Hope this helps.

I gained 322 pips this week using 15 min charts 5 ema and tdi and the way I analysed the markets was to check daily and 1 he candle if they are both the same colour then take entries of the same colour using tdi crosses now I only have done this for a week it doesn't mean it's the correct way I still will carry testing this way sometimes the candle changes on the 15 min so I exit with a small profit or loss and let the winners run as long as they don't change colour I recommend backtesting this and see how u get on this has defiantly boosted my confidence but am still cautious happy pipping to everyone

hi ,

my friend can you show me how do you enter and exit entry ?

this trade was taken when price closed below the dol......price was rejected earlier at the brn and I just waited patiently for the set-up....might re-enter when LO

a trade taken using 15min tf...the 200 ema is just above...let's see how it develops

Yes boys!

Well after reading about 75 pages and getting my head round the system and playing about with my indicators decided to give it a blast.]

Made my first 2 trades using the system today, Will post them later on. Both were 0.01 lots and around 15pips.

EURCHF 1.08307 - 1.08420 - Trade Time - 18mins - (10:00 - 10:18am)

AUDNZD 1.10207 - 1.10385 - Trade Time - 1Hour40mins - (8:45 - 10:26am) - SPREAD WAS HUGE ON THIS PAIR (Probably could have held longer to get more pips but want to go gym)

Both 0.01 lots. Will post screenshots of both later when I return.

Finding the perfect setup is a long process but defiantly worth it! Will continue to backtest!

Hello all,

Here are my NZDUSD short play on 15m and 5m chart my SL was at 30 pips. After seeing the completed pendent pattern I should've enter on the green vertical line, giving me a low risk trade @ 15pips SL. I enter on Pin bar assuming my #1 plan was going to play out and it did, PA made a LH after bouncing off of the HL , the risk on it was a bit high but i had enough confidence after PA got rejected by BRN .66000 level and making HH.

Meihk

No M5 trading on EU due to Red News earlier today. EA M15 trade 200 EMA on top, Arjun candle, 10 EMA plus RN and 4HR 10 EMA break.

[quote=dga24;8605484]Yes boys! Well after reading about 75 pages and getting my head round the system and playing about with my indicators decided to give it a blast.] Made my first 2 trades using the system today, Will post them later on. Both were 0.01 lots and around 15pips. EURCHF 1.08307 - 1.08420 - Trade Time - 18mins - (10:00 - 10:18am) AUDNZD 1.10207 - 1.10385 - Trade Time - 1Hour40mins - (8:45 - 10:26am) - SPREAD WAS HUGE ON THIS PAIR (Probably could have held longer to get more pips but want to go gym) Both 0.01 lots. Will post screenshots of both later when I return. Finding the perfect setup is a long process but defiantly worth it! Will continue to backtest![/quote]
Hi D
backtesting almost all systems don't work.Every chart is unique.
Best analogy I can give is from watching too many wild life documentaries
Lions know where prey congregate like watering hole but don't know exact animal will be there at exact day because that was the case from previous hunt.What they do know is watering hole (system) has huge advantage for successful hunt vs aimlessly searching for prey..
Most systems fail when applied mechanically.MA's cross overs,Bollinger Bands,Strength meters etc.Reason is price is a living thing and Price action should be most important factor to consider.
Your system might say go short but PA is telling you don't.That's where your discretion comes in.This is why its hard teaching trading because within same system you'll find successful and fail trades.This is the main reason why back testing anything is pointless.
Best advise I can give is watch PA religiously.
regards

took a loss with e/a...the only loser today...some winners below

Quiet day in terms of signals today, took 4, 3 winners one loser. The US/CA loser was a basic error, I took what I thought was a quick CT short trade at the start of the London session, but didn't check the higher TF's, which were of course firmly long.



The other 3 winners were my usual basic set ups.



There were a couple of other set ups later in the NY session, but I wasn't at my screen. 35 pips for the day, is not very exciting, but would be if I was consistent at that level

EU high to low of only 25 pips just ranging.

Just trading away and towards the yellow zone .