thak´s i´ll try, it´s good wave
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DislikedThere is a buy sign on the U/J
But its going the opp way to the G/J & the E/J
So this means it is Usd strenghting- which doen't make sence to me?!
So I think is just proffit taking.
- Its friday
- lating the yr
- & late in the day in in London
So I am going to take a pass on it.
& call it a week
Be well
TEBIgnored
DislikedHi guys
This will be my last posting
I am very busssssssy and will be crazy the next two weeks.
my intention was two fold
one to help people`
two to show mtf trading was the best way of trading "the holy grail"
both I think I have done
and now there are all kinds of mtf trading on this form. Some are great
let me just say a few more thing about this system,
because it is so simple I think it is great for anyone.
1. the higher the time frame the better it is
it is based on 5 ema closed over 6 ema open
for an 1 hour I would do 6 hours & 24 hours (the charts would be the same)
other time frames you might have to play with them a little.
day works great...
you would need bigger SL & TP
but keep it at 1 to 2 % atleast
2. It wins better then 3 out of 4 times on the eur/usd
The other 6 main pairs (g/u, u/ch, u/c, u/j a/u e/j) it wins between 70- 75% in back test
other pairs ie a/j & g/j it is less (need bigger SL & TP!!)
This win rate is on 50 pips + spred tp 25 sl (a/j & g/j I did 50 & 100)
if I pailed early I counted that as a loss even though I might have got pips
3. when it gets to 25 pips win move your sl up up 0 + 1
4. exit before news.
5. An other exit is let the 5/6 run till they cross
with the eur you will have some big big wins but you will have more loses
over all you will win though more pips
6. you can put on a trail stop are well...
I don't use them because my broker does have them
7. Only enter with the candle ...& better a candle formation
ie. a. 3 candle reversal b. dojis c. engulging candle d. Harami e.hammers e. stars
are all you have to know really etc...
http://www.trading-forex-online.com/...ck-Charts.html
8.watch out for tails & big candles
9. The heart of the system is the 6 emas
this is what you want
Attachment
all 6 pairs stacked & growing distance between the emas in each pair
and distance between the pairs themselves growing
this is what you don't want
Attachment
every thing all knotted up
Attachment
here is a good trade
all 6 emas stacked
& the right candle
10. You can wait for a retest-but I find this doesn't always work on the 5 min charts ... works great on the hour!!
11. It's better when price moves between the two larger pairs & them comes back out again towards the trend ... you may have a bigger move. ( again on the hour and higher)
12. with a 5 min system you will get lots of trading chances
so as my pastor says " if you doubt do with out "
you don't have to take any trade !!!!
13.2. Let the trades come to you - be a trapper not a hunter
you will have lots to take..
14. you will have losses... its okay
FX is a game - play the hand you have but know you will have more
15. Don't fall in love with any trade ...because it will cause you to lose big.
16. Fx is also a busness this is where you cut bait & run .
to fish an othe day.
17. but know if you win more then you loss & have good MM you will get rich
(slowly!!!!!!!!!!!!!) That is why the sl-tp % is imprortant in a norm market
do atleast 1-2 & you will win big
- you don't have to take the whole ride. just some.
as my mother use to say.."its not polite to be the 1st one to a house party or the last to leave!"
18. Eur/usd is the best trending of any thing in any market!!!
... all you need is it really.. everything else in 4x follows it .. its the big dog!!
19. know the big boys trade mostly on the 4 hour charts
so keep an eye it esp. the 4 hour channel
20. with this system I think its best set & leave- leave the room !!
watching on a 5 min chart is hard. You will win more & have a lot more of live & fun!
anyways that is it for me I hope this was helpful
if you have any questions email me here on this site
& I will try to get back to you when I get a chance
may not be till the year
blessings & be well
tebIgnored
DislikedAttachment
a few things I forgot
1. times not to trade!
a. make sure the 30-36emas direction is moving in the way of the trend !!!!
b. if the the distance between the 2 emas 30/36 is thinning
c.the 30/36 emas is cutting back towards the 120/144 emas.
these 3 rules will keep you out of times when the market is turning!
d. normall you would want a 20% or high angle on the 30/36 emas in the way of the trend
(20% or more in an up trend 340% or less in a down trend)
this will keep you out of a lot of bad trades !!
2. The red area is a good time to look for a trade.
the blue area is not...
you can see trading signs here in the blue area (to sell)
a. The 6 emas stacked & crossing
b. The right candle formations in this area
but it would be a bad calls because the 30/36emsa are heading up.
3. but after a time in the "blue area"
you might see a big brake out- it can go either way
but 70% it will be in the way of the old trend.
(you can bid when you get the signs in the blue area
you will be right often & with good MM it is a win idea but you need good MM!!)
3. news.. get out 15 mins before & stay out for atleast 30 mins after.
big news NFP - interest rate changes stay out a day
(unless you really know what you are doing)
4. This is a very hard time to trade-
after about the 15th of JAN is a happy time normally
as a the big boys start to reopen and its a lot easier to see & follow a trends.
5. never trade a trend system till after the london big boys on monday morning set the trend.
they know more them we ... our job is to just follow their lead in the forex dance
6. Never risk more then 5% of your account on anyone trade orf time
7. the channels & angles are on most charting plateforms
8. my broker is oanda
9. Never trade a trend system on holidays or the day after
10. Never trade a trend system between 12:00noon - 7:00pm EST
be well
tebIgnored