Another simple system - Time-Frame 15

how can i get this system ana how is it work

Read post# 26,093 and 26,094 and follow the steps.

EU M5 shorts trade.

UJ M5 short trade.

UJ M5 long trade. Trading in between zones this close together is a more advanced, riskier setup.

GA M15 multiple long entry. Pre London Open (LO) trades are risky due to fake outs, I sometimes split my Pre-LO trades, so in case of a fake out the damage would be minimal.

AJ M15 multiple position short trade. This is my last trade for today and as you can see you don't need to trade M5 to make money, M15 trading can make you money.

I took this trade today on EJ. It ended up BE because my entry was too late. My expectation was that price would go to the grey zone and it finally did.
I'am glad that my analysis was right. Maybe I should have let it run, but price was struggling to get lower that's why I decided to put my SL to BE.
In this cases most of the time it will exactly hit the SL.
If my entry was right after the signal candle it should be a perfect trade.

I took mine on the daily with bearish divergence and bearish candle on the daily..taken some off

Good job Pipsalon, nice Price Action analysis. You just got to fine tune your entry. It safer not to enter on initial break of 4 HR 10EMA and wait for a retest and then enter, this way you don't get caught in a retrace after a big down/up candle. You may miss a few trades this way but you also eliminate bunch of losses. BE trades are part of trading.

Once you start to get your analysis and price movement projections right and you go from losses to BE, you are on the right path. I was on BE wagon which seemed like for ages and then improved my entries and my wins started to pile up. I would have entered on the first (TOUCH) arrow on the left, second red arrow(BOUNCE) entry is fine too. The TOUCH trade would have almost been safe from ending in BE depending on how deep in the retrace you got in.

Patience is the key... Sometimes I jump into a trade too quick. Entering on the retest you pointing would be better and safer.
Have a nice weekend!!

EU M5 trades. Remember that there are NO 100% setups only high probability setups. When you have a more than one 10 EMA and price is approaching them and your intended trade direction is the same as the overall trend you have a high probability setup.

Here we have 4HR 10 EMA and MONTH 10 EMA and price is approaching them from below and so far the trend has been down. A continuation of current day's trend trade seems like a logical trade plan. We never know where price is exactly to the pip going to Bounce from. I decided to split my entries to first reduce my risk in case I am wrong and second not to miss a possible profitable trade. Also my first entry was before market busy time and there are times that we get a fake out at FO (Frankfurt Open) .

I entered once at the lower part of the yellow zone with a SL of 10 pips and the second time at the upper edge of the yellow zone with a SL of 5 pips. I moved SL to BE and then into +pips and closed both trades in profit.

These different TF EMAs are just our lines in the sand and a strong wind or a crushing wave can easily erase these lines. The trading concept here is to look for trade setups near them and then trade away from them if there isn't any traffic (red lights) ahead.

Once you become more experienced then you can attack (add to winning positions) and there are times that you got to rescue your troops (thanks to fti). But this doesn't mean that you simply add to your losing position in hope for the the trade to turn around on you. I am NOT advocating this here at all. No martingale or any of that senseless adding to losers left and right

There are times that we enter a trade and it hits our SL and then turns around in our intended trade direction and reaches TP. After you gather some stats and realize that this is happening to your trades with high frequency then you can employ a rescue mission with SL. Like in the movie Saving Private Ryan, they went behind enemy lines to rescue a fellow soldier. If this happens to you only once or twice in every 10 trades then there is no use in employing a rescue mission. You have got to work on improving your entries.

I consider attacking, adding to my winning position(s) and riding the current momentum for more pips. It took me a long time to build the mentality to add to my winning positions. I had known about it for many years and just recently was able to develop the mindset to do it.

It takes a lot of hard work to develop the skills to enter a trade with a single shot (like a sniper). I am able to that often. When can you go on a rescue mission? When your original trade setup hasn't been invalidated. How do you do that? By analyzing higher TFs.

I don't do it (rescue) in the same progression as fti but he has been a great inspiration. Also I want to thank Dr Van Tharp, emmanuel7788, griffinssoul and Davit for showing the way they do multiple position trading.

Loveevery1 (LE1) the thread starter also employed the rescue tactic when he entered ADR Bounce trades since they are among the medium probability setups. If you look hard enough it is all in this great thread for FREE, some gems are in plain sight and other gems take a little more digging to uncover. I don't wish to take this thread in a different direction. Just read this post and take whatever you can from it. I don't wish to discuss this concept any further in an effort not to upset the purists of this method.

I am going to post a few of my trade examples showing attack and rescue missions and then this subject is closed.

Attack trade examples.

Rescue trade example. There are many more of such examples used in my multiple position trading which you can find in the other 2 threads that I post using different HTF method(s).

Hi pipninja,

Thanks for sharing, please keep post for a good of all of us.

UJ, EJ

Traded GU this morning. Was my first attempt but I think I understood it quite well. From what I could see the weekly and 4hr 10EMA was above price along with the 200MA. Price had bounced off a RN and was forming the up leg of the original down move. I took a touch trade off of the 4hr 10EMA and TP'd down at the RN.

Entered both of these M15 trades way before the 30 Minutes no trading rule before Draghi speech, it it safer to close such trades before the News. I stayed in both of my trades, there are times that before such events price retraces so I decided not to move my SL to BE while he started talking there was an opportunity to attack and add a second order at the red arrow(s) at that close of that candle(s) but decided against it because Draghi was speaking and who knows what he might say. Sorry couldn't resist talking about attacking, won't happen again

Tieutri

Nice trade Rexz, now make sure to have a plan to stop trading after this many pips/trades or losses in arow. Also the next few days we got heavy RED News so we may experience wacky price movement so protect your hard earned cash.