Thank you for your generous comments d-pip. Still learning something new everyday and I am glad I have been given a chance to put in my two cents worth.
Have a great weekend and Happy Pipping.
Hi Niki,
It’s really cool how you’ve started this with just pure price action, how it should be!
I was wondering as an added benefit if we all could post our charts and discuss trades based off the daily chart as well?
Y’know… Pool in our ideas as well hoping we finally bounce off each other an reach the level of CRITICAL MASS if you will =D !
“Everyday I’m Pip’pin!”
Hello Yaniu…nice to see you here.
I dont own anything that has been published here. All are welcome to treat this as their own
All systems and evolution of trading Ideas and methods go back to the basic lessons. Thank you Luminous Neo for teaching me what is trading and guiding me to be profitable.
Everyone is welcome to share their two cents worth here. This thread does not belong to me.
Enjoy.
Happy Pipping.
I like this so far. Hope to see some more example charts.
Im going to be trading the 1 hour timeframes.
When you say the 6 basic candles, which ones are they? (not sure they were on your post)
Cheers
Talon D, thank you for your kind remarks… I will share more charts as we go.
I like to post current charts of trades as I am trading.
I dont like to post charts showing historical movements confirming a method. The self confidence in the trading method that we are sharing needs to be there. And I believe it is represented by the buy and sell order lines on the charts that we are posting.
Jay D,
6 basic candle patterns that I mentioned are Doji, Hammer, Inverted Hammer, tweezers and shooting stars.
Please refer to baby pips candle stick pattern thread in babypips school.
You can go deeper by reading candle stick chart books…but I believe the basic six patterns are enough to get us started in a very profitable way.
Happy Pipping to all.
This is an example of disastrous entry on H1 TF
GU H1 TF
Trade was entered at the Yellow arrow. The reason the trade was entered was I was already holding an AU in profit and AU started shooting higher during the Asian session.
So I broke two of my basic rules. ( Happens often 
)
First Rule. One trade at a time. ( this was cause of greed )
Second Rule. Dont Think. Dont assume. ( this was cause of lack of discipline )
So I ASSUMED its a Asian Session mover today and because I was blinded by greed, I THOUGHT that USD pairs will move higher together.
So I was blinded to all the candlesticks prior to my entry point that was clearly showing that prices have stalled.
So I took the trade and it went against me.
Holding 80 pips minus on 10% risk, with AU that was at 40 plus pips but now at BE is not a feeling that I would recommend.
But the thing that helped me to hold is bias. Market Bias and Correlation showed that it was going to be an upper. So sit tight and hold. U can atleast expect a break even trade.
This is the D TF chart for reading bias.
This below is the AU Chart on DTF that confirmed Correlation. Sorry I didnt take a shot of the EU DTF chart showing the same. Or I might have it somewhere but not sure where it is. Either way,
Anyway this went to about 40 ++ pips and the AU recovered to 70 ++ pips and I was happy to TP on both at the same time.
The ideal candle to have entered a buy on that chart on H1 TF should have been the 6th, 7th or the 10th candle from the candle marked with the yellow arrow. Either way, it was a hard ride as GU tends to do.
So what was the loss on this trade?. Well firstly I was a quarter of a hairs breath away from telling myself that this trade was a goner when it hit - 80 + pips and it was touching yesterdays LL. AU was also dropping and it had crossed my BE point. I nearly convinced myself that if I hold any longer I am going to loose more on both GU and AU.
Somehow I just convinced myself to hold on for another H1 candle.
Secondly the GU trade was a great loss because it went against me by 80 pips and gave me about 40. Imagine if I had waited for a better price and entered lower. I would have had atleast 60 or 70 pips on this trade minus the worried sick moments.
I hope this makes good reading.
Happy Pipping.
Not Ideal but a pip is still a pip
EU D TF
EU H1 TF
Happy Pipping
p/s TP level marked with Red line on D TF hit at 5pm GMT +8.
Done for the day.
Woke up late so missed the early morning entry.
AU DTF
AU H1 TF
Watch the candle marked with the Yellow arrow.
See how simple candle stick patterns is used with bias from reading higher TF to trade price action profitably.
I wont hold for long as I have entered late. I might take 25 or 30 pips on this one or move it to BE as soon as possible and leave it to luck.
Happy Pipping.
( p/s 70 pips and I am out at 3.55 pm GMT +8 )
The last part about trading.
-
Use indicators if you must, but use it to support your chart reading. Not the other way round. Do no read the indicators for an entry.
-
KISS principle. Keep it simple. Trading does not to be overly complex. People who are rocket scientist or Mathematical whizz are called smart or intelligent because they have a systematic way of making the subject matter simple in their thinking process. The same should apply to trading.
-
When in doubt, have no doubt. DO NOT TRADE or TAKE A TRADE. Again keep it simple.
I hope this helps for those who are looking for an absolutely silly system to trade and be nearly 100% profitable. This system does not give false entries. Loss is only incurred because we miss read bias.
Happy Pipping to all.
EU H1 TF
GU H1 TF
EU DTF
GU DTF
Never underestimate the collective compounding factor of 10 pips per entry. Its very powerful. Especially when you are compounding your earnings.
If you hitting 30 to 100 pips per entry then you can just imagine what you have in your hands.
You just need to learn how to enter trades that give you an average of 15 or more winning trades entered on different days.
If you can do that then you can see you first million in a very short time.
Happy pipping …
( p/s Out of both EU and GU at 5.51pm GMT +8. EU at 90+ pips and GU was a disaster. Went to 40 pips ++ max then crashed because of news and now its back to about 10++ pips. Im not going to be watching the market so I guess Im done trading for the day. Total collected 100 pips. )
Yesterdays GU was a real bummer now wasnt it…
Took 10 pips when the damn thing shot up more than a 140 pips. Its still going up north of 200 pips as I am posting this.
Well it happens.
Not believing our own analysis.
Well nothing is lost. Market will always move.
Now it was 5am GMT+8 and I was still up. And I saw something funny on UJ. On the min 1 Chart. Decided to buy EJ.
EJ H 1 TF
EJ D TF
For those who are wondering why there are two buy entries, well I forgot to up the lots to suit todays projection size. Realised it 20 pips late, but still took it.
For those who planning to short Yen pairs, I think that would be asking for trouble, especially when UJ has hit the 78.00 mark.
AU Trade.
EU also had a beautiful set up.
I might move the SL to BE ASAP cause I already hit one projected lot in the morning and I dont want to be pushing it.
But still a pip is a pip.
SL at the moment is on the previous LL.
AU D TF
AU H1 TF
Happy Pipping guys…
UJ Min1 TF 14th July 2011
The third kick got my EJ to hit TP. ( refer to charts on post 32 )
I think they are messing with Yen.
Happy Pipping.
nice thread nikita I have been of for a bit now and have not been trading at all this week. Just got to much going on I am moving to a bigger house for less money and yesterday my wife just had my son a whoping 7lbs and 14 oz. So I have to many destractions to trade best to sit on the sidelines for a but and enjoy my little guy. That and the wifi in the hospital is not good enough to run my charts lol (I know I am horrible)
Congrads to you and your missus Bobmaninc on the arrival of Bobmaninc Junior.
Would have to be the best gift a person could get. I wish well to both of you guys.
I also hope that your baby would be a day baby so that you are not kept up overnight.
Have fun.
Best wishes from all of us here.
Just drop us a line now and then.
Happy Fatherhood chief. 
Friday 15th 2011.
EU D TF
GU D TF
AU D TF
An example of where correlation is out of whack.
On days like this, its best we dont trade if we are not sure where the price is going to go.
If you must, then trade with smaller lots sizes then what your current projection calls for.
If you absolutely must, then try to use other methods, trendline, indicators etc to support your call.
We should not predict or take a chance with an entry.
Hope it helps.
Happy Pipping.
he was born at 1:20 pm but I have not slept for a couple days now I think I will tonight since the wife is up. Did not want to hijack this thread just wanted to say great thread me and you have a very close strategy and it does work but you must work at it for it to work. I will be off for a bit but cant wait to see where this goes.
Thanks Bobmaninc.
There is nothing so simple, even if we try to put it in simple terms.
There is no such thing as a free meal, or a free pip for the matter.
Holding 10 or 20% risk when you are on a DD is experience enough for the rewards to be justified.
It takes hard work, patience, more patience, then the mother load of all patience to be able to be consistently profitable with the charts.
Those who hit a brickwall are those who are expecting to find a combination of indicators that will do all the work for them and they just have to click buy when the indicators glow green and click sell when it glows red.
Those who use Indicators successfully do alot more of work before they do a trade call. It never gets any easier.
But if done right and we try to learn the charts, then the rewards can be very satisfying.
You have some fun Bobmaninc.
I am planning to wind down the postings inregards to PA. I think I have covered all that I can think off and I dont want to be overdoing it with the charts.
I might talk about other aspects of trading like newstrading etc, or I might just leave this thread be.
Either way, great fun, good pips, and made a bunch of great trader friends.
You have fun now, and Happy Pipping, on top of Fatherhood.
Cheers.
These are examples of other alternate ways of looking at the markets.
You have a method and you cant see what is happening, then you can always look at other methods to see if a possible set up can be found.
I tend not to over analyse the market. If there is no set up then there is none. Why force things?
Always keep in mind to look at SL before taking a trade. Always ask yourself how much are you going to have to risk to take a certain trade.
EU H1 TF.
EU H1 TF.
Happy pipping