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Another simple system - Time-Frame 15

  • #27,541
  • Apr 8, 2016 8:25am Apr 8, 2016 8:25am
Quoting pips29
gone long g/u...I am currently holding e/u and g/u longs and u/chf short.....
You are a pip machine for sure.Got onto the USD/CAD short
  • #27,542
  • Apr 8, 2016 8:36am Apr 8, 2016 8:36am
Quoting blueseal
{quote} You are a pip machine for sure.Got onto the USD/CAD short
I made two mistakes today..first is the oil trade, I read pa correctly and actually placed my target @39.70 which was just hit. I meant to keep 10% of the balance for this BUT did not do it..second was u/cad which I took off which is a 100+pip winner of which you got in , it is possible price might test 1.2850 not today but next week
the cautious seldom err....C
  • #27,543
  • Edited 8:56am Apr 8, 2016 8:41am | Edited 8:56am
I went in double the size to compensate for my loss on e/y which I bitterly regret..I have taken 50% off and moved stop to b/e+ EDit: stopped out
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD m15 (04-08-2016 2339).png Size: 63 KB
the cautious seldom err....C
  • #27,544
  • Apr 8, 2016 8:54am Apr 8, 2016 8:54am
Quoting blueseal
{quote} You are a pip machine for sure.Got onto the USD/CAD short
This is a very simple system to trade and if you don't make pips it is us who complicate things...it's very often that we forget the simple things in life and this applies to trading as well...just shut yourself off from the news as they are a everyday event and just concentrate on what's in front of you i.e. your charts..we can trade differently and still make money. Like I mentioned earlier ,from A-Z there are ample opportunities to make some pips be it 10,20 or 100.
the cautious seldom err....C
  • #27,545
  • Apr 8, 2016 9:04am Apr 8, 2016 9:04am
Quoting pips29
new trade taken {image}
I have already analyse my chart that below this line it is short. I don't know why I checked out of the trade..I am posting chart so that you don't make the same mistake as me...when I fail I like others to succeed
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD m15 (04-09-2016 0005).png Size: 70 KB
the cautious seldom err....C
  • #27,546
  • Apr 8, 2016 9:17am Apr 8, 2016 9:17am
I am going into the weekend with this trade...From dd to +ve now. My target is 200 pips and I will scale some off at area indicated...let's be patient..daily chart below
Attached Image (click to enlarge)
Click to Enlarge Name: USDCHF D1 (04-09-2016 0014).png Size: 73 KB
the cautious seldom err....C
  • #27,547
  • Apr 8, 2016 9:22am Apr 8, 2016 9:22am
I come to this thread all the time cause when i see you guys making pips you inspire me and make me realise making some pips is not as hard as i think just need to change my mentality and accept any pip i can get from the market, cause positive pips is profits..

@Pips 29 i would like to know if you have a specific number of trades you enter per day or as long as there is an opportunity you trade.
  • #27,548
  • Apr 8, 2016 9:23am Apr 8, 2016 9:23am
and the above opposite number, E/U
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD D1 (04-09-2016 0022).png Size: 78 KB
the cautious seldom err....C
  • #27,549
  • Apr 8, 2016 9:35am Apr 8, 2016 9:35am
Quoting blueseal
I come to this thread all the time cause when i see you guys making pips you inspire me and make me realise making some pips is not as hard as i think just need to change my mentality and accept any pip i can get from the market, cause positive pips is profits.. @Pips 29 i would like to know if you have a specific number of trades you enter per day or as long as there is an opportunity you trade.
I don't count the numbers as I take them when I see an opportunity, so it could be 3 one day and maybe 6,7 on other days..I have nothing much to do so I have the time. I would love to play football if only I am half as good as Messi, I would play snooker if my back is more forgiving..I think I will limit my trades when I return to the UK...you know this saying if you want to win more you have to keep to this phrase "less is more" I am calling it a day now as it's past midnight and trade safe, it's fry day..don't be the food in the pan for others
the cautious seldom err....C
  • #27,550
  • Apr 10, 2016 12:36am Apr 10, 2016 12:36am
after reading posts from other threads, a song came into my mind..I hope in this game of forex you are not..
Inserted Video
the cautious seldom err....C
  • #27,551
  • Apr 10, 2016 2:16am Apr 10, 2016 2:16am
Quoting pips29
after reading posts from other threads, a song came into my mind..I hope in this game of forex you are not..https://youtu.be/mLRjFWDGs1g
Hi pip29, I am just starting to learn trading and I think reading PA is important to success than just indicators. But it seems to be a subtle thing.

Could you tell me how did you manage to learn to read PA successfully, and is there any resources where can I learn how to read PA?

Thank you.
  • #27,552
  • Apr 10, 2016 2:50am Apr 10, 2016 2:50am
Quoting antonym
{quote} Hi pip29, I am just starting to learn trading and I think reading PA is important to success than just indicators. But it seems to be a subtle thing. Could you tell me how did you manage to learn to read PA successfully, and is there any resources where can I learn how to read PA? Thank you.
It sure did not come in a flash but after several tough years and I still get it wrong but luckily it's getting less frequent..I think I have put some videos out on p.a ( by James Stanley) earlier and you can find them in the paperclip or go to youtube..There are plenty of videos on this subject..in my daily chart of U/chf or e/u ,which direction is more likely price will move without any big important trend changing news..let me hear your view
the cautious seldom err....C
  • #27,553
  • Apr 10, 2016 2:53am Apr 10, 2016 2:53am
what does this chart tell you (e/g daily) and weekly below
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURGBP D1 (04-10-2016 1753).png Size: 69 KB
Click to Enlarge Name: EURGBP W1 (04-10-2016 1754).png Size: 63 KB
the cautious seldom err....C
  • #27,554
  • Apr 10, 2016 3:43am Apr 10, 2016 3:43am
Quoting pips29
{quote} It sure did not come in a flash but after several tough years and I still get it wrong but luckily it's getting less frequent..I think I have put some videos out on p.a ( by James Stanley) earlier and you can find them in the paperclip or go to youtube..There are plenty of videos on this subject..in my daily chart of U/chf or e/u ,which direction is more likely price will move without any big important trend changing news..let me hear your view
Ok. I look the James Stanley video. Thanks.

Here is my view. My PA reading is very limited but I try. I see that you put a sell for U/chf and buy for e/u. I agree that PA is making HLHH for e/u, and LHLL for u/chf. But does that mean it will continue to make HLHH or LHLL? I have doubts here. There is conflicting signal (RSI OB/OS) also price is consolidating with lots of spinning top candlestick formation. Another conflicting reason is this. For e/u there is resistance ahead (I see you write "scale off here", but wouldn't the risk-reward be less than 1:1?). For u/chf price at a trendline if you connect the last two lows. Because of these reason, I hesitate to take a trade here as you did. Please discuss why you downgrade these conflicting reasons?

For the EG daily chart, I think it will go up based on the trend. But I wait for retrace then buy. It would seems better.
I have trouble analyzing the EG weekly chart. Please let me know how to form a combined view based on both weekly and daily chart.

I actually don't know how to read PA here other than counting HHHL, and identify candlestick formation. Please let me know what area you think I need to improve and learn.

Thank you.
  • #27,555
  • Apr 10, 2016 9:00am Apr 10, 2016 9:00am
Quoting antonym
{quote} Ok. I look the James Stanley video. Thanks. Here is my view. My PA reading is very limited but I try. I see that you put a sell for U/chf and buy for e/u. I agree that PA is making HLHH for e/u, and LHLL for u/chf. But does that mean it will continue to make HLHH or LHLL? I have doubts here. There is conflicting signal (RSI OB/OS) also price is consolidating with lots of spinning top candlestick formation. Another conflicting reason is this. For e/u there is resistance ahead (I see you write "scale off here", but wouldn't the risk-reward...
antonym, I must say you did a pretty good job with your pa but I have the weekly in mind..First, when I use TLs I like to draw lines connecting lh to show a downtrend and hl to show an uptrend..When either the dtl or utl is broken I will look for a trade and in this case I will take this pair u/chf to discuss...on the weekly I have drawn 2 utls and both of them were broken..I did not take the first break of the one in orange as the TDI and the cci were not quite ready in my eyes..However the break of the green utl caught my eye as both the tdi and cci swung below the bearish levels and I was banging on a decisive break of this utl...a decisive break is a break where the open and close of the candle is below the TL ( I am adopting this definition which was used by a very good trader who once was in the g/u thread a few years back).It did happen..When we look at the daily,I have boxed 2 candles with legs right at the utl which might have tempted some traders to go long but as you can see the close were getting lower which is an alert to me to look at the close rather than the leg(lower wick)..the following candles did nothing to show price is going to move up until the candle just before my entry started to move up and was rejected at the 10 ema..I am not sure if this candle was meant to flush out weak shorts or to trap the bulls..I entered the following day..as concerned r:r being less than 1 when I scale out is not an issue to me as my stop is meant to be there just in case I'm wrong..I will normally take 40% off and move my stop lower or even to b/e and by doing so my r:r is 0:1.5 or 0.5 :1 I like to think when I go to battle I go to win..
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USDCHF W1 (04-10-2016 2337).png Size: 68 KB
Click to Enlarge Name: USDCHF D1 (04-11-2016 0000).png Size: 78 KB
the cautious seldom err....C
  • #27,556
  • Apr 10, 2016 10:48am Apr 10, 2016 10:48am
Quoting pips29
{quote} antonym, I must say you did a pretty good job with your pa but I have the weekly in mind..First, when I use TLs I like to draw lines connecting lh to show a downtrend and hl to show an uptrend..When either the dtl or utl is broken I will look for a trade and in this case I will take this pair u/chf to discuss...on the weekly I have drawn 2 utls and both of them were broken..I did not take the first break of the one in orange as the TDI and the cci were not quite ready in my eyes..However the break of the green utl caught my eye as both the...


By their fruits ...you shall know them.
S&R on Point.....
TL on Point......
Great Trader...
Great Analysis...

Stay Blessed.....
It Is Well With My Soul..(Amen)
  • #27,557
  • Apr 10, 2016 8:52pm Apr 10, 2016 8:52pm
Quoting pips29
{quote} antonym, I must say you did a pretty good job with your pa but I have the weekly in mind..First, when I use TLs I like to draw lines connecting lh to show a downtrend and hl to show an uptrend..When either the dtl or utl is broken I will look for a trade and in this case I will take this pair u/chf to discuss...on the weekly I have drawn 2 utls and both of them were broken..I did not take the first break of the one in orange as the TDI and the cci were not quite ready in my eyes..However the break of the green utl caught my eye as both the...

Ok. I remember this post by heart.

Thank you.
  • #27,558
  • Apr 10, 2016 9:19pm Apr 10, 2016 9:19pm
Quoting babasemi
{quote} By their fruits ...you shall know them. S&R on Point..... TL on Point...... Great Trader... Great Analysis... Stay Blessed.....
Thank you very much for your kind words..it's not my effort alone..amen
the cautious seldom err....C
  • #27,559
  • Apr 10, 2016 9:21pm Apr 10, 2016 9:21pm
Quoting antonym
{quote} Ok. I remember this post by heart. Thank you.
It's only my simple view and I am happy to share
the cautious seldom err....C
  • #27,560
  • Apr 10, 2016 9:40pm Apr 10, 2016 9:40pm
If you are trading yen pairs, BOJ Kuroda will be talking in under 2 hours time..expect some volatility and timing an entry might bring handsome rewards...but for those who are already in...anguish..have fun guys
the cautious seldom err....C
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