You are to be congratulated as you made something simple out of a rather complex and arduous task called trading FX. All new traders should start here and stick to your simple rules and prosper.
thank you summitfx,
this evening i will make some lazy market samples, to see how you can behave on them
Nothing like waking up to the sweet smell of Pips
Jumped in live last night on a perfect set-up of GBP/CHF. Woke up this morning to find a little present of 125 pips, best Monday in a long time. I will figure out how to post a chart to help demonstrate how "simple" this set-up is.
to take screenshot of your charts, you will find here
Got to say, pretty good system, I've made a few scalps!
we had now again news events ( no trading for no news trader )
another scalp before weakening
Account History for todays trades
3 trades loss : 300 $ Loss
10 trades win : 2164 $ Win
Im done for today,
European session will close in a few.
Tomorrow is a new day
( but i was in eur/jpy a little bit ealrier, i was agressive, but its my responsabelity, you have to follow the rules, become a habit to trade them, and with a little bit time, you too you will know in before what the market will do )
great system, thank you.
can you please clarify, do I enter in the candle that takes the 3 ema across or do I wait for that candle to close and then enter?
Excellent trading~ you're trading more than 4pairs I see. Do you ever sleep?
wait for that candle to close and then enter! and than enter the postion with the new candle
lol, yes, i sleep too, but week days not much
some of the guys here demanded me to show a graphical example of sick market and lazy market Stop loss, i will trade it for sample, and show you how, when and why i exit.
It will be described in 2 stop loss conditions:
- the normal Stop loss
- and the last hard stop loss
you will need to observe the market conditions how the trade will progress, this will define if you exit from the begining with the normal stop loss,
or if the trade have some hope to continue, when not there will be the hard stop loss.
please have patience until this trades will be made.
Formula found found for better exit
I was conscient about the exit weaknesses in this concept, and after talking with you everytime more about it, and seing also your results in the poll, i knew that the last problematic will be to find something what will not stop you out too fast, ( not just taking profit from the first scalping candles )
but will also protect.
The result will give us more profit earning as entry candle scalps or 100% 200% CCI exits , less profit loosing from a reversal until awaiting the next entry signal, and stop loss at the same time.
Based on same demands as the 34 variable, not being to near or too far from the optimum conditions.
It will not be much more complicated as simple it is, and the rules also,
just a litle addition and optimisation, no difficult rules or indication analysis.
( the point is to keep it simple and effective as much we can ).
At least we search the perfect strategy
Entry , Exit , Stop Loss
until now we had the Entry , and stop loss, and we finish with the Exit
The post will be released in a few time.
I always thought exits were a personal thing. On any given day, my tolerance level changes and so do my lots. Some days, I may be happy with 10 pips and other days I may hold overnight with a trailing stop. What you have done here Karim is simplified the entry process. Don't complicate things. Many boneheads will pass thru here and offer more and more crap. Keep It Simple . I studied Woodies method many years ago and moved on to other things and here I am again foaming at the mouth over the simplicity of it all. We tend to complicate it when it doesn't need to be.
Morocco was made famous in the sixties for it's hashish. There was even a song by Crosby, Stills and Nash called the Marrakesh Express.
It was a popular route for traveling hippies during the mid-to-late 1960s who sought out this Moroccan city for its mythical Arabic appearance, and maybe for its renowned hashish.
Maybe the new mantra will be the express to Waterflames FX palace
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