DislikedFeliks
Why? change a winning formula
why? change the aligator to a smoothed ma
why? confuse people
????
TomIgnored
Andy
Trading is this Simple? Finally Explained simple and clearly! 46 replies
My way of trading by Using trend line , BL line & febo level 76 replies
Simple Horizontal Line Trading H1 87 replies
DislikedFeliks
Why? change a winning formula
why? change the aligator to a smoothed ma
why? confuse people
????
TomIgnored
DislikedGuys, there is a trading contest coming up in July at myFXBook. These things add a little interest and motivation to trading. The contest winners will be those who do crazy, stupid things. My goal is to be positive at the end.
http://www.myfxbook.com/contests/tra...e-2011/4/rulesIgnored
DislikedHi Booktimes
I draw S/R lines each morning, before London breakout. I mainly look at the previous days high and low and look to trade either a bounce or continuation of them. I try to catch a London breakout and then the breach or or bounce of yesterdays high or low. Once they have been breached I then draw any bounce points from previous few days in thin lines and look to take partial profits at these points as a bounce point can soon turn in to A S/R line. Used in conjunction with Colos method it works great.
If you look at the chart I posted...Ignored
DislikedHave you looked at the USDCAD lately? It is retracing. What I consider too "Big" you might not. Usually too big for me is roughly 10 pips outiside the line.
But in THIS case the difference in the 2 is the USDCAD was range bound prior to crossing. The AUDUSD was/is in a short term downward trend.
Did you read the rules? The 2 are not similar at allIgnored
DislikedHere are the trades I took on the GBPUSD
Total= 114 pips and a nice end to my week. Questions?Ignored
DislikedVery good strategy. thanks. 4out 5 wins----win rate is nice. i get two questions about how to enter a trade.
1. did you set a buy stop or buy limit order when you spot a signal? or do you enter a trade after the system confirm the signal? How to confirm a signal? or just wait until the candle closed?
2. when you scan the price action, do you look for a higher timeframe such as H4 chart or Daily chart for a WHOLE VIEW of a big trend?
thanks for your thread, and happy pips! dude
best regards, JoeyIgnored
DislikedWell,
gbp/jpy -48 for being a donkey. Got back +30 scalping the 5 min.
But still have a big floating DD on other 2 pairs, I'm getting back those pips but its has been a stressful dangerous stupid game which is draining my mind.
these are all live on a very small small account trading (1000/per milliion) lots.
Has stop order on USD/CAD and AUD/USD according to the rules but because of the stress, i've chicken out and canceled them. wish I haven't done it cos the PA moved the the direction of the orders.
From now on i'll follow these...Ignored
DislikedHey Colo
shout it out loud my friend, like I said I have read this thread 3 times now and it has literally been like a light bulb moment in my melon, I have traded on and off for about 3-4 years, with moderate success, used every strategy and indi going, read and read and read, spent hours upon hours scanning websites, I have this inbuilt determination to learn this business, spent a kings ransom in doing so, but I put that down to the cost of my education, hey nothing for nothing, so even though my bank account now gives me the finger when I want...Ignored
DislikedGuys, there is a trading contest coming up in July at myFXBook. These things add a little interest and motivation to trading. The contest winners will be those who do crazy, stupid things. My goal is to be positive at the end.
http://www.myfxbook.com/contests/tra...e-2011/4/rulesIgnored
DislikedOne advantage of using an MA (which should be 13 period Smoothed, shifted by 8 and applied to the Median price) is that levels can be added above and below the MA, I prefer a minimum move of 10 pips away from the MA, this helps to reduce the number of whipsaws
AndyIgnored
Dislikedafter the action today you will be hard pressed to find a candle anywhere near the balance line. Just got one more pair to check - now what was it - oh yes Mongolia/BoliviaIgnored
DislikedYes, I read the rules. I was referring to the size of the "signal candles" only. They both were about the same size from high to low in pips and both around the same amount of pips outside of the blue line.Ignored
DislikedThe blue line of Alligator is the same 13 Smoothed MA shift 8. Just try)Ignored
DislikedAndy B if this is your preferred method, please keep it to yourself. Do not muddle or mix rules in this thread my friend!
This thread is about the balance Line, what you call it or how you apply it is up to you. Don't change the terms we use in this forum.
Happy pippinIgnored
DislikedBJ1 -
.........................................
Did you set a bounce entry for the USDCAD? I didn't, I was too involved with 3 other trades, but am extremely sorry I overlooked it.Ignored
DislikedYou don't have to be sorry, Rick. You are already doing a great job - giving a system and also pointing it out where a trading entry is coming up - no one can tract all currencies and one can make as much money trading 1 or 2 currencies - trading all of them is not necessary.Ignored