DislikedHey!!
I certainly noticed your absence, I am sure many others did as well.
Good to see you.Ignored
I didnt get your pm because my inbox was full. I had to delete some. Send again.
Auslanco 15min GBP/JPY startegy 630 replies
Auslanco-GBP/JPY Strength Indicator strategy 344 replies
My MT4 indicators for Auslanco's strategy 92 replies
Auslanco 15 minute Strategy Oanda FXManager Updates.. 62 replies
Questions About Auslanco's Trades 72 replies
DislikedHey!!
I certainly noticed your absence, I am sure many others did as well.
Good to see you.Ignored
DislikedThis is a big buttlerfly Monthly, but look, is happening!!!
Who knows if price get to the 61% fibo retrace?
Probbably a lot sell presure in 2008, let's see.Ignored
Dislikedlol-- wouldnt know about that !
havent heard from the man in ages--hope he's doing well and in the best of health.
now now Ladybird-- be good in the trade room
HM
ps-- thanks for those who gave us feedback yesterday on the mic--much appreciatedIgnored
DislikedWeekly chart shows we are currently in a downtrend and we are at the lower TL of the channel.
http://img221.imageshack.us/img221/936/gjhu3.gifIgnored
DislikedI love being simple and looking at the bigger picture
Daily QQE has crossed up and once we get a candle closed above the Gann hilo, I think we will be heading towards the upper TL of the downtrend channel which also coincides with the monthly TL that was broken, so price around there will be 219 area.Ignored
DislikedThe Daily Pin Bar on 1/25/08 is a concern. Down trend should continue.
JimIgnored
DislikedHi dagoods
1- Use the attached one which has separate colors for bands and middle line, but I use "Laguerre Filter" as the middle line, I mean I make the middle line of BB invisible and put Laguerre filter (0.6 or 0.7 which one you think fits better) over it cuase it gives me smoother curves.
2- Use "RSI with Alert", it has alert setting to enable audible alerts when crossing 50 line but change the period from 21 (default) to 14... that is what I use.
3- 5M or Maximum 15M but I trade %90 of my trades on 5M using this system, it's more risky because of wide spread (mine is 8) but overall gives you more pips. Your losses will be limited to 30 to 40 points max.
4- I'm dedicated to the Beast only ... although I have an eye on GU and UJ in the matter of fib levels for support and resistance but I don't trade them.
5- Ah ... here comes it about experience using this system because most of times I don't have any specific predefined target. I just follow these indicators but most of times I exit the market based on multiple factors earlier, specially I always look after RSI divergences to close a trade earlier than for example waiting for RSI to crosses back 50 line. With this system I've a record of 920 pips in just one day but my normal range (if market is not sideways) 200 to 300 points per day.
You can use Stochastic (10,1,3) beside them but it is not so important it just help to determine divergences better but it cause also some confusions sometimes. Just RSI suffices.
My other tool is trend lines which helps me greatly to pass small and false signals i.e in an uptrend I ignore entering small retracements by using proper trend line. This is very powerful.
But let me tell you something. I trade Full Time. That means some days almost 19 hours screen time. Can you do that? I mean not everybody is capable to afford such a long time in front of his monitor. At weekends I just sleep and do absolutely nothing. I really mean it. So don't look at my 300 points per day as normal profit range for everybody who uses this method. If I trade part time, I would hardly get such a profits.
Let me add to it that you will have some losses too. Every system has loss but If you follow it, it will give you what you want in long term.
And something else ... I DON'T TRADE NEWS because it's 5M and so very risky at news time. I start to open position normally half an hour or one hour after news announcement.
Dagoods and Moneymanagement ask me about this. You are yourself masters and I've learned many things from you and also Queece5 about technicals. So I don't dare to claim to know anything special in your presence because you know most of points I mentioned about fibs, support and res, trendlines and ... I wanted to explain everything about this simple system for anyone who is interested and wants to try it. So excuse me if I spoke too much.
I'm studying Skunny's thread. People it's awesome. It is giving me a new look about market movements. I recommend it to everybody. I combine it with this method and it's giving me more confidence and less stress to trade , open and close positions. It works on 5M too and not necessarily only for 1H or 4H. Give it also a try ... just my thought.
This is not a scalping thread so excuse me everybody if I cluttered the page.
I've attached a picture which shows the way I traded this system on Dec 28th 2007 which gave me more than 300 points. I hope it helps.
The indicators are also attached.
CheersIgnored
Dislikedyep that's what I see, from there I expect the bulls to continue.. but we should always be ready if anything changes..Ignored