reds did ok on 1h, yep, but you remember what you said would be needed to trade them? steel ones… lol
trying to make a few pips tonight, may try to get up early for London open and try my luck there.
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don’t be too critical… 
20 pips per day? 80 pips or 100 a trade? You guys make me want to slit my wrists. I can’t do anything except lose money, it seems.
don’t feel bad Merchant, I’ve been like that since the beginning despite getting a lot of good advice from the pros. Just lately I’ve started making fewer dumb beginner mistakes and started making some pips. Plus got a new 1h strategy to test out. 
The fatigue and despair is setting in a bit. Despite asking how things work in strats like this one, I don’t seem to be able to get a clear understanding.
All my high school, SAT and military aptitude tests claimed I was a genius (har!) and I’ve always considered myself a literate, well-read person. Why can’t I grasp the intricacies of this method or the Candlestick one over on Tymen’s thread? It’s like these guys are speaking Greek (literally).
Then again, it took me weeks to grasp the relationship of lot sizes, leverage and pip values - so clearly I’m not the sharpest knife in the drawer. :o
EDIT: And, of course, I’d like to hear about your 1H strategy. In fact, I’m wondering if my suckiness at daytrading is so bad that I shouldn’t look for some good intraday strategies.
SanMiguel,
I’m glad to see you changed your post as we don’t want to give newbies the wrong idea do we now.
I want to thank you for your patience I do try to tone my posts down a bit but it is hard to make traders see their mistakes. Most just swear at me a lot and tell me to leave them alone in so many words. LOL. I’m not trying to be arrogant but sometimes people view my post as such so I must work on that.
Understand it not easy to get people’s attention and this is especially true of the Brits. I know this first hand because I married one. LOL. A lot of what I know I owe to a Brit and believe me he hit me with a sledge hammer many a time. The method I was trading at the time was almost identical to this one which is why this thread caught my attention. The only difference was I didn’t understand the importance of the trend of each time frame. I traded like a gun slinger of the old west with a hair trigger and I did a lot of losing countertrend trades. Believe me I learned the hard way.
If newbies are viewing your thread then I believe in pointing out the mistakes because most newbies will follow your lead. Whether you or your followers agree in what I’m saying is not what’s important to me. I do hope you and everybody else will post with valid questions but I want the newbies to see a different point of view. It is obvious that there are no professional traders here but it does seem to be of a much higher standard then most.
I believe you and some of your followers do fairly well but some of the posts are confusing to a newbie and very little of the why I made the trade and analyzing the trade after the fact has taken place. I realize that trading is the main thing here and teaching takes a lot of time so I’m not condemning you or anybody else.
I will ask the followers like Mr. Carter to quit miss-quoting me as it just shows arrogance and inability to read or understand. I’m not posting to be confrontational and will just ignore those types of posts. It is just fine that I see posts like �I made 130 pips today but to me it sounds like boasting and really is only self serving. If you post, here is my thought process through the whole trade from beginning to end and it turned out 130 pips then the ones who are unclear about how to use this method might see the light.
I know you can’t do this every time but once would be enough. I know most newbies jump onto this thread and some haven’t figured out what a pip is yet but remember all of you traders were newbies at some point in time and may be still.
I personally haven�t learned a thing from those who have always agreed with me and welcome discussion. I have found the confrontational people who view other ideas as attacks aren�t the main contributors anyway. I have managed to turn a few around in my past but it is usually an effort in futility, so my posting replies to the comments by these individuals will be very few.
Trade well and prosper,
Johnny
[B]Merchantprince[/B]
…
What’s going on with GU…?
[B]JohnnyBSmart[/B]
I don’t remember misquoting you? I have twice posted hoping you would reply to my question asking… so you drill down from day to 4h and then 1h (as you stated I think) and trade the 1m with guidance from the 1h. Or do you also trade the 1h, QESTION MARK.
That was a genuine question no?
As to boasting… I could well be guilty of that. But SanMiguel asked me do I make over the 100 pips a week. I replied with some examples of actual trades and my average daily pip count.
As to obviously no pro traders here… I think you might be suprised!
I fully take on board that perhaps we have not explaind why we made a trade, good and bad. And will make every effort to address this.
But we are trading a turn on the ma and at the outer edge of the bollinger usually coinciding with significant S/R. So why we have entered the trade should be fairly obvious if time is taken to read the whole thread.
Yes your confrontational style of posting needs work!
Post some charts of your trades and get some advice.
That was at Frankfurt open wasn’t it? Hmm.
It was nice that my trade got stopped out at breakeven just before dropping 200pips. Really, thanks. :mad:
Good idea.
Any text book trades, we can stick 1 or 2 of them on the first 2 posts.
[B]Merchantprince[/B]
Don’t get dispondent it takes a while.
Can I suggest you set up your charts as follows and try demoing it for a while, if you want to get the hang of this type of trading.
5m, 15m and 1h. On all charts LWMA set to 2/6/9 and 2 std dev boll (20 period).
Key difference here, don’t initially use candles but price line. This avoids the urge to follow candle formations. Just follow ma in conjunction with the bollinger and see where it takes you. You should quickly see the corralation between the price line and ma and price/ ma in relation to the bollinger,
[B]R Carter[/B]
Did you change it to [B]2[/B] instead of [B]3[/B]…?
Or was it a typo…?
[B]Merchantprince[/B]
If you do look to this set up you can clearly see where price broke the upper boll on the 15m at significant S/R and started its long track back down at 1.6379 to 1.6205 before a slight bounce before resuming the down.
[B]CAS[/B]
2 or 3 their both fast and track the price line closely. I dont think it makes alot of difference?
[B]SanMiguel[/B]
Yes , it was. Didn’t notice any news.
Don’t know what was behind that one. It smashed through all S&R on it’s way down.
I am trading Crude Oil. Behaves better @present.
btw: BB & MAs works perfect with Crude Oil.
[B]Merchantprince[/B]
Personally, I use the 5m for boll bouncing when the bolls have leveled out and the 15m for an entry whilst looking at the 1h for strong S/R levels. I’m sure there are other ways but this works well for my style of trading.
OK my read. Weve had the big drop on the 15m chart and 1h has some support. Ma’s on the 15m are starting to level off. Weve already had the fake bounce on the way down which is calssic on a steep ma. I am now looking for a possible counter trend trade to around the center line boll.
[B]Setup:[/B]
To the centre line bollinger on the 15min?
I have a possible support line at around 1.6160 but this is based from the body of the candles from the 21st. There are lots of spikes through it though.
[B]MAs on the 15min have now crossed:[/B]
[B]During trade:[/B]
[B]SanMiguel[/B]
Yep. I’m looking to the 15m for a counter trend trade. The center line boll is dynamic and will move down to meet an up trade if PA takes a slow up in any event. So my TP will be at center boll line.