Another simple system - Time-Frame 15 | Page 1335 | Forex Factory

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Another simple system - Time-Frame 15

  • #26,681
  • Jan 25, 2016 4:40am Jan 25, 2016 4:40am
Quoting Pipsalon
{quote} An example: Here you see price between 200ema(roze) and 800ema(white). There is 1 bullish bar that breaks the 200 ema. After that price immediately go's back into the ranging zone. Is this what you mean pipsninja? There is still no clear break out of the zone, just 1 bar that closes outside of the 200 ema is not valid for a break? Hopefully my example is clear...because English is not my mother tongue. {image}
Yes, that is what I meant but there are also times that price may keep on going and not bounce due to Momentum/News. There is no guarantee that price will always Bounce or Break those EMAs only the possibility but the possibility of a Bounce is higher.

There is also a more advanced trading technique that LE1 shared in how to trade BOUNCES from 200 EMA , 800 EMA and ADR but it isn't recommended until traders learn to trade the basic setup. Got to learn the basics before moving to more advanced techniques.
Trading can't be taught but it can be learned
  • #26,682
  • Jan 25, 2016 4:48am Jan 25, 2016 4:48am
EJ is in a ranging zone as well. Because price is between daily 10 ema, 4hr 10 ema, 200ema and 800 ema.
That's why there is so much indecision.
Attached Image (click to enlarge)
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  • #26,683
  • Jan 25, 2016 4:49am Jan 25, 2016 4:49am
Quoting Pipsninja
{quote} Yes, that is what I meant but there are also times that price may keep on going and not bounce due to Momentum/News. There is no guarantee that price will always Bounce or Break those EMAs only the possibility but the possibility of a Bounce is higher. There is also a more advanced trading technique that LE1 shared in how to trade BOUNCES from 200 EMA , 800 EMA and ADR but it isn't recommended until traders learn to trade the basic setup. Got to learn the basics before moving to more advanced techniques.
You are absolutely right I still need to work on my basics first.
  • #26,684
  • Jan 25, 2016 4:50am Jan 25, 2016 4:50am
Quoting Pipsalon
EJ is in a ranging zone as well. Because price is between daily 10 ema, 4hr 10 ema, 200ema and 800 ema. That's why there is so much indecision. {image}
There you go.
Trading can't be taught but it can be learned
  • #26,685
  • Jan 25, 2016 4:53am Jan 25, 2016 4:53am
This strategy works only thing is I need to work...
  • #26,686
  • Jan 25, 2016 5:34am Jan 25, 2016 5:34am
Quoting Pipsalon
This strategy works only thing is I need to work...
Your trade direction on GU was right, you just got caught in MMs stop hunting.

Advanced setup: Once the stop hunt was over, I joined in.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDcsfxM15.png Size: 49 KB
Trading can't be taught but it can be learned
  • #26,687
  • Jan 25, 2016 5:46am Jan 25, 2016 5:46am
Quoting Pipsninja
{quote} Your trade direction on GU was right, you just got caught in MMs stop hunting. Advanced setup: Once the stop hunt was over, I joined in. {image}
Nice trade
I already thought that this 2nd break might work out. PA still looked bearish and price did not close above 15m 10 ema. I was just watching the action.
Can you tell more about MM stop hunting? How do you recognise that the first candle below the 200 ema was stop hunting?
Probably you just see it because of your experience and knowledge of PA.
Attached Image (click to enlarge)
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  • #26,688
  • Edited 12:23pm Jan 25, 2016 7:21am | Edited 12:23pm
Quoting Pipsalon
{quote} Nice trade I already thought that this 2nd break might work out. PA still looked bearish and price did not close above 15m 10 ema. I was just watching the action. Can you tell more about MM stop hunting? How do you recognise that the first candle below the 200 ema was stop hunting? Probably you just see it because of your experience and knowledge of PA. {image}
Actually the first candle breaking and closing below 200 EMA was a sign that the sellers were in control at that time and what took place after that is what some call MMs stop hunting and others call the fight between buyers and sellers. Always ask yourself are they (MMs, big players) buying or selling (one of my favorite LE1's quotes)? Then you do the same.

I am sure that we all have experienced a high probability sell/buy trade and went short/long and the market made a U turn and took out our SL + a few pips and then it dropped back down like a rock. This could be an example of MMs stop hunting to create liquidity for a further move down. The subject of MMs stop hunting is something that is more of an advanced discussion and if you stick to the basic setup then you will be fine but if you want to learn more about it you may want to google Stop Hunting in FX.
Trading can't be taught but it can be learned
  • #26,689
  • Jan 25, 2016 8:03am Jan 25, 2016 8:03am
Quoting Pipsninja
The real answer is that I stopped trading for the year 2015 right before Christmas and my plan was not to trade until January 18th, 2016. Early January 2016, I noticed that due to the China mess and low Oil prices, currencies are making some nice moves so I started to trade just the London session as of January 6th, 2016 and then went full speed starting January 18th, 2016. It has been the most rewarding month ever for my Equity Growth trading account and I am hoping that you all are capitalizing on these nice moves. Here is my equity curve for...

Geeeee, great stuff.
  • #26,690
  • Jan 25, 2016 8:05am Jan 25, 2016 8:05am
Quoting pips29
{quote} you can be playful now, Helee..when market opens make sure you get your up and down in the correct sequence..buddy, how about some posts from you

It will put me to shame in trading...

how about pick right tops and right bottoms, and almost ruin the account?

I must cure myself of this virus.
  • #26,691
  • Jan 26, 2016 6:33am Jan 26, 2016 6:33am
Price did not bounce from 200 ema and 4hr 10 ema but broke through it. I saw the pinbars forming and thought it might bounce.
Unfortunatelly bounce did not happen so my SL got hit.
Attached Image (click to enlarge)
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  • #26,692
  • Jan 26, 2016 7:26am Jan 26, 2016 7:26am
Quoting Helee
{quote} Geeeee, great stuff.
Thanks Helee
Trading can't be taught but it can be learned
  • #26,693
  • Edited 7:59am Jan 26, 2016 7:46am | Edited 7:59am
Quoting Pipsalon
Price did not bounce from 200 ema and 4hr 10 ema but broke through it. I saw the pinbars forming and thought it might bounce. Unfortunatelly bounce did not happen so my SL got hit. {image}
Thanks for posting your trades Pipsalon and explaining your reasons for taking them. There are a few things missing from your analysis.

1.) Why type of trade setup is this? Basic or Advanced?

2.) How was price approaching the 200 EMA?

3.) What is the rule in taking these types of setups? Do you wait for price to bounce or touch the 200 EMA?

4.) What is the profit (number of pips) target in these types of advanced setups?

Please answer the above questions.
Trading can't be taught but it can be learned
  • #26,694
  • Jan 26, 2016 8:07am Jan 26, 2016 8:07am
Quoting Pipsninja
{quote} Thanks for posting your losing trades Pipsalon and explaining your reasons for taking them. There are a few things missing from your analysis. 1.) Why type of trade setup is this? Basic or Advanced? 2.) How was price approaching the 200 EMA? 3.) What is the rule in taking these types of setups? Do you wait for price to bounce or touch the 200 EMA? 4.) What is the profit (number of pips) target in these types of advanced setups? Please answer the above questions.
Thanks for your feedback Pipsninja I will try to answer these questions.

1.) This is an advanced setup. (I should not have taken this setup since I still need to learn the basics first)

2.) Price was approaching the 200 ema with a big momentum, there were a couple of big bullish bars heading for the 200 ema.

3.) I don't know the exact answer to this question. LE1 gave a lot of examples about when price is going to bounce or break the ema. If it's not going to bounce it will break. My thought is that when price touches the ema for the first time it will usually bounce. Look for candles like pinbar, engulfing at this point. When price visits the 200ema a couple of times short after eachother and the bounces getting smaller it will break the 200 ema. Probably this trade failed because when I look to the left (yesterday) price is zigzagging around the 200 ema and does not really respect it. That's probably why there was not a big bounce.

4.) Profit target is a small amount of pips (10-15) since it's CT. So SL should be close above the ema as well.
  • #26,695
  • Jan 26, 2016 8:15am Jan 26, 2016 8:15am
Last days I find it difficult to trade. Today I said to myself that I would only take A++ setups. But I was sitting in front of my computer for a couple of hours and no A++ setup appeard on the pairs I follow. After a couple of hours I saw a more advanced opportunity on GU. I jumped into the trade and got stopped out immediately.
  • #26,696
  • Edited 10:20am Jan 26, 2016 8:23am | Edited 10:20am
Quoting Pipsalon
{quote} Thanks for your feedback Pipsninja I will try to answer these questions. 1.) This is an advanced setup. (I should not have taken this setup since I still need to learn the basics first) 2.) Price was approaching the 200 ema with a big momentum, there were a couple of big bullish bars heading for the 200 ema. 3.) I don't know the exact answer to this question. LE1 gave a lot of examples about when price is going to bounce or break the ema. If it's not going to bounce it will break. My thought is that when price touches the ema for...
Perfect answers to questions 1, 2 and 4. Just keep in mind that in CT trades LE1 moved SL to BE quickly. Answer to question number 3 is that LE1 used to take the Touch in anticipation of a Bounce. Now go write in your trading journal in bold letters that I am going to only trade the basic M15 setup from now on and I am not going to take any advanced, CT trade setups until I can become consistent in trading the basic M15 setup. I am going to become a master in trading the basic M15 setup.


Quoting Pipsalon
Last days I find it difficult to trade. Today I said to myself that I would only take A++ setups. But I was sitting in front of my computer for a couple of hours and no A++ setup appeard on the pairs I follow. After a couple of hours I saw a more advanced opportunity on GU. I jumped into the trade and got stopped out immediately.
It is absolutely OK not to take any trades for the day if you don't find any basic M15 setups.

Happy Pipping,
Trading can't be taught but it can be learned
  • #26,697
  • Jan 26, 2016 8:37am Jan 26, 2016 8:37am
Would this have been a valid basic setup today?
Short Usd/Cad at the red arrow candle. It's a break of the 200ema and RN.
I doubted to take this short entry...
Attached Image (click to enlarge)
Click to Enlarge Name: UC 26-1.PNG Size: 72 KB
  • #26,698
  • Jan 26, 2016 8:45am Jan 26, 2016 8:45am
Quoting Pipsalon
Would this have been a valid basic setup today? Short Usd/Cad at the red arrow candle. It's a break of the 200ema and RN. I doubted to take this short entry... {image}
No, it was a valid advanced setup as well. What is the basic M15 setup?
Trading can't be taught but it can be learned
  • #26,699
  • Jan 26, 2016 8:58am Jan 26, 2016 8:58am
Quoting Pipsninja
{quote} No, it was a valid advanced setup as well. What is the basic M15 setup?
Do you mean this setup? Short entry: TDI green crosses red below the 200ema.
Attached Image
  • #26,700
  • Jan 26, 2016 9:04am Jan 26, 2016 9:04am
Quoting Pipsalon
{quote} Do you mean this setup? Short entry: TDI green crosses red below the 200ema. {image}
There you go, the 800EMA on top of the 200EMA and the 10EMA below both of them so here we only look for a short trade. I don't use the 50EMA on my M15 charts but if you do then it needs to be between 200EMA and 10EMA. In your posted chart were would you take a short trade?
Trading can't be taught but it can be learned
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