Precision Trading

My methodology is based on Leading Indicators such as Pivot Points and Fibonacci. I do not use Oscillators since they are lagging in nature and are only telling me what the candles are already telling me and I don't like having a bunch of indicators that tell me the same thing and cloud up my charts so that I cannot decipher price action.

The methodology I use is very, very simple. I use a simple set of EMA's:

233/144 - Tracks the sustained trend

55/21 - Tracks the current Market Direction

13/5 - Tracks current price action and momentum

I monitor touches to these ema's as well as ema crossovers. I do this over multiple timeframes. I add Monthly, Weekly, Daily and even 4 Hour Pivot Points into the mix as well. I love Pivot Points since they are leading and very reliable. I also note previous days high & low

I make use of Trend lines and I am constantly fibbing in every direction

I start out making a few decisions. Am I Bearish or Bullish? Which Pair will I trade today? I look at the ec, eg, uc, uj to determine relative strength since I prefer to pair a strong currency with a weak currency.

Below I will post some screenshots of my mt4 profiles I use then a brief video that will take you through a live trade as it happens. If this thread receives interest from other traders I will keep it going but for now I will play it by ear.



This was one of my earlier videos and didn't have mi mic turned up so high so you should turn up your volume. I also recommend watching my videos in 720P Quality. The whole video thing is very new to me so bare with me. My videos will get better and better.

To find out more about me and my Trading Methodology please visit my Website at:

http://www.forextradeplans.com

Since I am small time, single monitor trader I have to make due with one monitor and a 22 inch at that. Due to the fractal nature of the market I need to monitor multiple timeframes simultaneously. My system is based on confluence and overlapping multiple areas of support and resistance to get into a high probability trade.

The first screenshot you see is the longer term perspective: Weekly, Daily, 4H, 1H

The second screenshot is my medium term perspective: Daily, 4H, 1H, 15M

The third is my short term/scalping perspective: 30M, 15M, 5M, 1M

The fourth is strictly Pivot Points: Daily chart with Monthly Pivots, 4H for Weekly, 1H for daily and 15M for 4 Hour pivots.

The fifth screenshot I use to draw pivot lines on my 15 minute work chart as well as used for scalping.

I'm a big follower of naked trading, but always eager to learn every single thing I can about trading... this caught my attention so far... will you post more? Have a nice day...

This too has caught my eye and it would be great if you could continue posting
Minka

OK, I will. Keep checking back. Posted this originally in the Trading Systems then they moved it here and I didn't think it would be noticed but if you are interested I guess I will continue the thread.

For starters I would like you all to build confidence in my methodology and get an idea of my basic chart setups. I would like to add that I get into trades like the ones I am posting here over and over nearly daily. My profitable trades are most of the time and my profits are high. My losing trades are very minimal, far and few and when I do lose it is a very small loss.

My trade setups are so precise that if I end up negative even 10 Pips I know I screwed up and cant manage that trade and just get out and move on to another setup.

I will explain later each of these trades and how the chart setups get you into winning trades and keeps you out of losing trades.

Looking forward to explanations

I'm in for a period of learning if you are willing to share with us further... seems there's only two of us... but I hope you'll share some of your time, we will certainly appreciate it

This could be the start of an interesting thread !

I believe that trading is all about identifying the trend and finding areas of support and resistance.

MAs are good for both, along with trendlines.

Looking forward to more posts of yours, howie !

I have been using some of Howie's methods this past week, and they have been very positive. He is also very helpful with ALL the questions I have. I look forward to following this thread, and hopefully I can contribute my progress.

I think I can teach you all some very cool money making techniques best by video. I am fixing to compose a video later tonight. I will post it on my youtube channel and place a link in this thread. Trading is very visual and I never cared much for dialogue myself so I will be as visual as possible combining videos with chart pics. Expect to see a video link later tonight.

Seems like a great system, I'm looking forward to your posts and videos.

It has been working well for me but I don't consider it so much as a system but more of a methodology. Naked trading is regarded as trading with absolutely no indicators at all whatsoever and just letting price action dictate. My methodology is more like semi-naked trading.

We need to use moving averages. They are considered to be lagging in nature since they are telling you what price action has done but I am not so sure if they do lag. First of all, I don't use MA's, I use EMA's Exponential Moving Averages so the most weight is based on the more recent price action. I use EMA's as dynamic S/R. I like to ride the ema's the way a surfer rides the wave. Its kinda like a roller coaster. You know how when the coaster gets to its first big slope then pauses and you hear the chain in the track moving and suddenly it catches the coaster then the coaster begins to move up? I think about that with the ema's. Just waiting to get hooked by one from underneath and just ride it to the top before it takes the dive. EMA's do not clutter my charts but oscillators do and they are truly lagging and I use to use them and I even have systems based on them but I can't stand oscillators therefore I choose not to use them. Just as I have awesome systems for the NFP that do work but I hate trading the NFP so I choose to avoid it. Find something that works good for you and just stick with it.

Another reason why I use ema's is for s/r overlap and confluence. Nothing better than entering a position on a 50% fib overlapped with a pivot point and a 21 ema. Price will bounce off the 21 most of the time. The idea is to get into a position off of a bounce at a reactionary area that other traders will see therefore demand will then outweigh supply, more than likely get you into a 20 pip bounce, more then enough to move your stop to break even. Now, your either zero or hero.

All my ma's are ema's (Exponential not Simple) and are all applied to the Close. They are also Fib values: 5,13,21,55,144,233 I put a lot of faith in Fibonacci when I trade. I don't know why, all I know is they work. I will explain in my soon to be posted video why fib is so important and why we cannot trade without it. The same goes with Pivot Points. PVP's are recognized by traders especially Hedge Funds and they are the big money and as traders we want to follow the big money and do what the big money is doing. PVP's don't just get you in, they get you out. Most traders that have tackled the challenge of entering a trade that goes in the intended direction are soon challenged with knowing when to get out. PVP's help to set target's as well as Fib Extensions which I will soon cover.

PVP's and Fibs are leading indicators, they tell us what should happen before it happens. Based on todays High, Low and Close I know what will be tomorrows central pivot point therefore I can see the future. In trading knowing the future and what will happen can be very useful.

Multiple Time Frames must be monitored. Before you take a long off of 15 minute support take a look at the 4 hour chart. If the 4 hour is at resistance either look for a short or do nothing since the longer time frames usually trump the shorter time frames. I like my shorter time frames to line up with my larger time frames. I like everything to agree. That is not a rule however. I am aggressive so I probably would take a short off a 4 hour resistance even though the 15 is at support. I will simply switch to a 5 or 1 minute chart and look for some hesitation then at the first sign of red take a short and set a stop loss just above the previous swing high on the 1 minute therefore having very small risk for what may very well turn out to be a stellar trade.

Lets not forget Correlation. If trading the eurusd always be watching the eurgbp and the usdchf. Do not take a long off of eurusd support if eurgbp is at resistance or if usdchf is on support. Always remember that the usdchf is basically the reciprocal of the eurusd so a perfect trade setup long on the eurusd will have the eurgbp also at support and the usdchf against resistance over multiple time frames.

Sound confusing? Well it won't be, just pay close attention to my videos, chart pics and explanations.

I definitely intend on following this thread.

I am very new to trading but I'm learning fast, and I plan on watching any and all videos you put out. The first one was very explanatory not only in trading technique, but also in terminology and use. I'm using a very basic FX platform and it was super helpful seeing everything in use, especially the fib's which I think I can definitely employ in my future trading strategy.

I look forward to your next video and following this thread.

Griff

I will definitely follow this thread with great interest. I've been playing this game for some years with limited success. I would like to believe I've progessed to the point of at least being able to identify when someone knows what they're talking about. Thanks and keep it coming.

Thank you all for the kind words. Unfortunately, last night I passed out kinda early. I spent nearly 4 Hours at the Gym, had a vigorous workout. Laid down to chill for a few before I was to produce a video and simply passed out. I am not a big time Sunday Night Trader so I will take the time tonight to record a video and it will be posted sometime later tonight.

You will like this video I believe because I will show you all how I trade multiple time frames using a single chart. I will focus on Pivots, Fibonacci, EMA's and Trend Lines. Could be a long video that will be in two parts but If you are all up to watching it I am up to recording it tonight.

Great! you're thread has already been noticed and it is brand new... I'm sure the time you put in it will be worth it... looking forward to the video... good night to all

Will definitely be watching the video, looking forward to it.

Griff~

Below are the links for the 4 Part video I created. For optimal visualization I recommend setting the videos on 720p and Full Screen.

Part 1

Part 2

Part 3

Part 4


I am still very new to composing videos and this was obviously unscripted, unrehearsed and all impromptu. My videos will get better within time. I hope you all get something out of them and if you learn something and want more just let me know and I will keep putting them out and will get better and better with time. I hope you enjoy the videos.

The chart I made in the video named fflesson.tpl is attached to this message. Simply just save it to your Templates Directory in MT4.

Part 2 is the same as 1, the correct url would be
http:// www.youtube.com/watch?v=8qN0jVo6fKk
keep it up