check out the 30 min chart,
i amended the chat a lil, just realize a mistake tht i did,
XA should be from the high n the low,
n i found 2.618% of CD falling exact at 100% of XA…,which is 1.4554 to be exact,
i think price gonna hit tht level before a bounce back up, n thts where our entry order should be…
Can you post your chart?
Thats wht i m talkin about…
price right now testing 88.6% retracement of XA…
im trading EUR/JPY also… n its goin pretty well so far…
I know this was addressed a while back - but seeing as it was quite a while ago, I’m hoping someone can clarify for me when the best times to trade based on this system are. I’ve read, re-read and re-read again Trade What You See and have read the first 300 or so pages of this convo at least twice. I finally have my strategy down, and enough knowledge to start this fun process. Moreover, it’s finally the right time life-wise for me to start. That said, I’m very willing to change my schedule - in fact I’m counting on doing so. I work full-time and am in the Eastern Standard time zone; is it realistic to trade the open of the London session for a couple hours in the early morning, and then possibly the Tokyo session in the evening? Again - I know this was addressed; just hoping that if anything has changed since TMB originally wrote about it that one of you folks can let me know what you see. Thanks in advance.
well if u have been trading for a while now, u will realize tht the best time to trade is the LONDON SESSION followed by NY session, so u make ur schedue such , tht u fit in these time zones, and i think TMB has mentioned clearly wht time schedules r the best… i can post thema gain for u…6pm to 8pm, 12 to 3am EST, 3am to 4am LONDONT OPEN, 5am to 6am EST, 10 am to 11:30 PM,
but all depends on u , which time best suits u, asian session is not recomended session as many fake out occurs, not only for this TRADING STRATEGY but also for all… asian session is netorious for stop huntin as well…
gud luck … n happy trading…
Thank you, MrPipps - I have been trading for a while, but spottily. Yes - I totally agree that the overlap between London and New York is best on many levels, but I’m going to have to be creative with how I approach this. I very much appreciate the response regardless!
we all r here to help each other in any way possibe, atleast thts wht i feel as a trader, we should share our knowledge, and learn from other peoplez strategies n plans…
Match up ur time with the london sesion open, its 4am EST i think, in order to enjoy the full swings of the trade, no matter wht pair u r trading the votalitiy is high at these hours…
r u following this strategy? or do u have anyother strategies to follow?
i ve been trading for the past 2yrs, n i ve find this strategy a very useful piece of info, i really SALUTE TMB n all other who contributed in this forum, its a very useful source,
regards…
~Mr PIPs~
Totally agree - this forum is an incredible tool for anyone who wants to improve their trading prowess. I almost exclusively trade based on candle-based patterns and then follow trends, using candles (and Fib) to set my targets. Pattern-based trading at the chart, not individual candle level, exposes a whole different level of possibility, though - and coupled with pattern recognition at the candle-level I think will prove to be a very effective trading methodology. Again - thank you, MrPippppppppps!
You are welcome…
if u have any charts to post… welcome u too…
I will - as soon as I have a few that make sense to share.
Welcome tradle. Let’s see how well we can do. :). I’m still demo trading, but I’m having fun. My first goal is to learn how to read the markets. This can only be done over time because I need to monitor and understand why the marked moved from hour to hour and day to day. Once I learn that I think I will be better and spotting the right patterns and using the right tools to enter and exit a trade. It’s good that this thread is active again. Thanks MrPipps and tradle!
Agreed, bnjnson. This could be a great opportunity; this forum has taken quite a few novices and made them into pros. There’s no doubt we could be next. Good luck with your demoing and market study!
Found a good gartley last night. See my screenshots. I didn’t have a stop loss or take profit set because stupid Alpari only allows you to set the SL or TP 30 pips from the current prices. This was a sell limit order, and it dropped 20 pips in 2 seconds. I manually closed it for a profit of 57 pips.
http://i55.tinypic.com/2ebzx5c.png
http://i51.tinypic.com/mrb96r.png
The red-line was supposed to be my visual TP of 25 pips.
??? i just saw thepics n now disapeard… ??
OK I GOT IT…
well there should be a difference in the JUSTIFY traded n unjustified trades… im glad it worked out very well…
aint we suppose to take the HIGHER HIGH n the lower low ?? for XA?
this fall was in all the major paris,
trading any major news even is a different strategy to follow…
anyhow… GUD work man… keep it comming…
Selecting X is tricky in some cases. In my chart I picked the X there because there was an .382 retracement from the previous peak. If there is a .382+ retracement then I choose the lower peak. I also drew a gartley from the previous peak and the convergence was at the same point, so I think that was extra confirmation of a gartley forming. Let me know if that makes sense.
I didn’t know there were major news coming out…lol. I need to start looking at the event calendar.
[QUOTE=bnjnson;262374]Selecting X is tricky in some cases. In my chart I picked the X there because there was an .382 retracement from the previous peak. If there is a .382+ retracement then I choose the lower peak. I also drew a gartley from the previous peak and the convergence was at the same point, so I think that was extra confirmation of a gartley forming. Let me know if that makes sense.
I didn’t know there were major news coming out…lol. I need to start looking at the event calendar.[/QUOTE]
keet posting ur charts, right or wrong, doesnt matter, but we can arrange them accordingly, n im sure our MENTOR TMB is lookin it, so he can correct if needed, or while seeing our PASSION towards the system, he can give some suggestions…:-)…
as far as X is concern…it should be the high or the low… not from the middle, anyhow keep them comming… i don trade AUD/USD, but will look at it now if needed, EUR/JPY is my fav pair for these patterns… im really enjoying making patterns on this pair… n they r workin pretty gud… wil post my charts regarding tht also…
below is a EUR/JPY 30 min chart… trade tht i pick… gave me 30 + 30 pips… twice…
by the way im not trading on DEMO… im trading with my live account…
here is the link too…
Did this work out? I’m not sure how well 15M patterns work out.
no it didnt,
but if u see the 1hr chart, there is a H n S pattern … i was followin tht, but i was using this 15 min as another entry level…
but i place my order at the neck line break out… can post tht chart if u want…
i ve my own trading system tht i folow…
i use this trading method as a help… for the confirmation of my other trades…
gud luck n happy trading…
Any patterns today? I don’t see anything unfortunately…