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Another simple system - Time-Frame 15

  • #26,441
  • Dec 19, 2015 12:28am Dec 19, 2015 12:28am
Gidday All , Top thread LE1 .... MY take on this trade Pips , bit risky going against the TDi slope?and 200ema? high rRISK IMO due to the tdi slope not being strong enough either way ....
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  • #26,442
  • Edited 2:33am Dec 19, 2015 1:26am | Edited 2:33am
Quoting Pipsalon
SL got hit on GU -16 pips. {image}
I have been using LE1's way of trade management meaning I move my SL to BE after being up by X many pips to BE. I usually have a profit target of 8-14 pips on my M5 trades and 15-25 pips on my M15 trades. If there is no major traffic ahead, HTF, order flow, big momentum and fundamentals support my M15 trades then I try to stretch them for bigger pips.

I am not claiming that this is the best and only way of trade management. If one is aiming for very big pips trading short TFs then moving SL to BE could be counter productive

Again it is best to zoom out first and try to decipher what price has done so far before trade entry and draw possible traffic areas (S/R). It is our job to piece together the story that the market is trying tell us by reading Price Action. Would we be wrong at times? Absolutely.

Market may want us to believe this way when it has the intention to move the opposite (liquidity creation, etc.). I always look left before placing a trade to see if there is any major traffic ahead.

I consider the 2 yellow zones too much traffic ahead, that long wick from earlier was standing tall and was trying to tell us something! Please keep in mind that these zones eventually will break, if it wasn't so then price would be ranging and Bouncing between zones forever.
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Trading can't be taught but it can be learned
  • #26,443
  • Dec 19, 2015 4:25am Dec 19, 2015 4:25am
Quoting Pipsninja
{quote} I have been using LE1's way of trade management meaning I move my SL to BE after being up by X many pips to BE. I usually have a profit target of 8-14 pips on my M5 trades and 15-25 pips on my M15 trades. If there is no major traffic ahead, HTF, order flow, big momentum and fundamentals support my M15 trades then I try to stretch them for bigger pips. I am not claiming that this is the best and only way of trade management. If one is aiming for very big pips trading short TFs then moving SL to BE could be counter productive Again...
Thanks for the example
My expectation was that price would reach previous day low. I could have moved my SL to BE when price reached that long wick, trade was in my favour for +9.
As you say there was too much traffic ahead, it would be better to sit on my hands.
  • #26,444
  • Dec 19, 2015 9:29am Dec 19, 2015 9:29am
Quoting starpro
Gidday All , Top thread LE1 .... MY take on this trade Pips , bit risky going against the TDi slope?and 200ema? high rRISK IMO due to the tdi slope not being strong enough either way .... {image}
First, thanks for your input..I expected a bounce from there and I got it and took the entry..As it's a CT trade I actually had intention of taking the trade out on the 3rd candle after entry candle when price was rejected at the 34 ema the previous 2 candles. If I remember I took some off in my other acc. of which I have no access over the weekend owing to maintenance. I believe I moved my stop to b/e+2 a few hours before the market closed..It was good for +25 but I was asleep by then.It was against all indicators but I did say pa strictly and it was just that..below is the chart..hope to see you post more as only the 3 pips....... are posting 99% of the time
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the cautious seldom err....C
  • #26,445
  • Dec 19, 2015 9:53am Dec 19, 2015 9:53am
I will be looking at trading the 5 min chart more often from now till the holidays are over. With this time frame, it will be more indicator bias than anything else...can't wait for market to open
the cautious seldom err....C
  • #26,446
  • Dec 21, 2015 5:21am Dec 21, 2015 5:21am
GJ +29 pips
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  • #26,447
  • Dec 21, 2015 6:24am Dec 21, 2015 6:24am
Usd/Cad +24. When price broke the 5min 200ema my expectation was that price would go north.
My analysis for the day was long, already.
It was an early entry. It would have been an A++ trade when I entered at the red arrow (retracement)
I'am glad with the result
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  • #26,448
  • Dec 21, 2015 9:30am Dec 21, 2015 9:30am
2nd GBP/JPY BE+1. It would have hit my TP by now, but price was struggling to get lower and exactly hit my BE stop.
I am happy with the pips today
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  • #26,449
  • Dec 22, 2015 6:33am Dec 22, 2015 6:33am
EU +25
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  • #26,450
  • Dec 24, 2015 6:39am Dec 24, 2015 6:39am
EJ BE. I did not want to trade today since it's the end of december and markets are moving slower.
I opened MT4 to do some backtesting and saw this opportunity. It moved down very quick, missed my TP by 3 pips and shot up again and stopped me out at BE.
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  • #26,451
  • Dec 24, 2015 6:47am Dec 24, 2015 6:47am
No white christmas here. It's still pretty hot for the time of the year here in the Netherlands.
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  • #26,452
  • Dec 25, 2015 8:23pm Dec 25, 2015 8:23pm
Merry Christmas all!!!
  • #26,453
  • Dec 31, 2015 4:14am Dec 31, 2015 4:14am
I would like to share the following two thought provoking threads with you:

http://www.forexfactory.com/showthread.php?p=3400462

http://www.forexfactory.com/showthread.php?t=396895

I wish you all a Happy, Healthy and Prosperous 2016 and beyond
Trading can't be taught but it can be learned
  • #26,454
  • Jan 4, 2016 4:58am Jan 4, 2016 4:58am
EU -10. Entry at the pinbar on 800ema. Price went in my favour for +15, but did not reach my tp at PPA.
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  • #26,455
  • Jan 5, 2016 3:27am Jan 5, 2016 3:27am
GJ -10. Having a couple of bad trades in a row now. I went long when price reached 175.000 and support from PPA. I expected a bigger bounce from this level.
Maybe I am not ready for this type of CT trades yet...
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  • #26,456
  • Jan 5, 2016 6:52pm Jan 5, 2016 6:52pm
If there is one thing I have learnt over the years of trading it is that you can never apply a rigid TP to trading (at least in my experience). From what I see Pipsalon you need to be more fluid with where you TP. Your previous trade where you went +15 should have been an indication that price wasn't going any further north with that candle close (Doji). Price had already moved a great distance and retraced all of the previous days move. If price was going further long, it would have either pushed straight through or needed a bigger retrace. When you saw that Doji you could have jumped to B/E or put your stop under the leg of it.
Your latest trade to me was too risky. With all your MA's above you and price had already broken a previous low, the trade in my eyes didn't have enough in your favour. I have been through so many systems thinking ill just follow the hard rules and make money but there is always extra work involved. Otherwise everyone would just code an EA and make millions, which doesn't happen.

Keep up with the good work. I'm looking forward to posting here in the near future
  • #26,457
  • Jan 5, 2016 8:46pm Jan 5, 2016 8:46pm
hi all, after reading this post for the longest time, i decided to post my first post of my trade.
I saw a divergence of the TDI to the actual graph and planned to go short once the red line crosses down pass the yellow line of the TDI.
I followed carefully thru out the trade and close my trade once TDI red line touched or crossed the yellow line up.
Yielded around 70+pips for myself, my questions are..
1) is it a legit trade?
2) or did i got lucky?
3) If its a legit trade, how can i improve on the TP as i dun wanna stare at the screen the whole time as i do have a full time job
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  • #26,458
  • Jan 5, 2016 9:27pm Jan 5, 2016 9:27pm
And also based on the 10EMA line on the 4hrs chart, it acts as a resistance line also shown in 15mins chart
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  • #26,459
  • Jan 6, 2016 4:33am Jan 6, 2016 4:33am
Quoting Rexz
If there is one thing I have learnt over the years of trading it is that you can never apply a rigid TP to trading (at least in my experience). From what I see Pipsalon you need to be more fluid with where you TP. Your previous trade where you went +15 should have been an indication that price wasn't going any further north with that candle close (Doji). Price had already moved a great distance and retraced all of the previous days move. If price was going further long, it would have either pushed straight through or needed a bigger retrace. When...
Thank you for your feedback
You are right I was too greedy with these trades.
  • #26,460
  • Jan 6, 2016 4:54am Jan 6, 2016 4:54am
Quoting denno
hi all, after reading this post for the longest time, i decided to post my first post of my trade. I saw a divergence of the TDI to the actual graph and planned to go short once the red line crosses down pass the yellow line of the TDI. I followed carefully thru out the trade and close my trade once TDI red line touched or crossed the yellow line up. Yielded around 70+pips for myself, my questions are.. 1) is it a legit trade? 2) or did i got lucky? 3) If its a legit trade, how can i improve on the TP as i dun wanna stare at the screen the whole...
Hi Denno, Congratz with your trade a nice 70+ pips

1. Your entry is not according all the basic LE1 rules. You can call it a more advanced setup.
Your short entry was right above the RN. Price could bounce of this RN.
The TDI was making higher highs. To favour your short entry it should make lower highs.
If you look to the left there is support from PPA pretty close under the RN.
2. In my opinion your analysis that price would drop was good. But you were a little lucky that the points at 1. did not happen.
3. Your TP depents on your Risk/Reward management. The EU will not make such a move down every day. Sometimes the ADR will not be reached. You can set a hard TP at the next RN/EMA/PPA. Loveevery1 ususally aimed for a TP much smaller than your 70+ pips. Most of the time he takes around 15 pips per trade.
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