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Simple Simon Balance Line Trading

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  • Post #2,301
  • Quote
  • Feb 10, 2012 8:09pm Feb 10, 2012 8:09pm
  •  Leigh
  • | Joined Feb 2005 | Status: Member | 98 Posts | Online Now
Hi
I only came across this method a few days ago.
I missed a beaut trade yesterday.
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Our IMAGINATION is the true holy grail!
 
 
  • Post #2,302
  • Quote
  • Apr 19, 2012 12:55am Apr 19, 2012 12:55am
  •  DapperDan59
  • | Joined Sep 2010 | Status: Member | 66 Posts
Wow, just come across this thread and I am very impressed to say the least... I hope we can keep tjis thread running.
Would love to contrubut and use it as a running log with others.
 
 
  • Post #2,303
  • Quote
  • Apr 24, 2012 5:35pm Apr 24, 2012 5:35pm
  •  919gilead
  • Joined Jul 2010 | Status: Great hopes make great men | 2,027 Posts
Anybody still trading this method as it is actually a great system as I trade something similar, and if any of you guys are still around let's give this thread another boost and help each other.

George
Low Risk Low Stress High Reward High Probability Trades
 
 
  • Post #2,304
  • Quote
  • Apr 24, 2012 7:36pm Apr 24, 2012 7:36pm
  •  919gilead
  • Joined Jul 2010 | Status: Great hopes make great men | 2,027 Posts
Kiwi trade setup, and pending order placed and will wait for the market to decide.
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Low Risk Low Stress High Reward High Probability Trades
 
 
  • Post #2,305
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  • Apr 24, 2012 7:56pm Apr 24, 2012 7:56pm
  •  919gilead
  • Joined Jul 2010 | Status: Great hopes make great men | 2,027 Posts
These are 2 trade setups in AUDJPY & NZDJPY that happened within the last 4 - 5 hours and already in profit.

George
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Low Risk Low Stress High Reward High Probability Trades
 
 
  • Post #2,306
  • Quote
  • Apr 24, 2012 9:00pm Apr 24, 2012 9:00pm
  •  919gilead
  • Joined Jul 2010 | Status: Great hopes make great men | 2,027 Posts
Trade closed for 13.7 pip loss.

The flat ADX did signify that there was no momentum at the moment, and I will try again during the London & U.S. sessions

George

Quoting 919gilead
Disliked
Kiwi trade setup, and pending order placed and will wait for the market to decide.
Ignored
Low Risk Low Stress High Reward High Probability Trades
 
 
  • Post #2,307
  • Quote
  • Apr 24, 2012 11:57pm Apr 24, 2012 11:57pm
  •  DapperDan59
  • | Joined Sep 2010 | Status: Member | 66 Posts
Quoting 919gilead
Disliked
Anybody still trading this method as it is actually a great system as I trade something similar, and if any of you guys are still around let's give this thread another boost and help each other.

George
Ignored
Yes let's get it going, I just bought a book called "$1000 to 1 Million in 80 days"
Maybe if we can get this thread resurrected or start a new one we can combine both and put together a trade log at the same time.
So with the book, obviously to achieve this kind of money in that period, it's all about compounding.
 
 
  • Post #2,308
  • Quote
  • Apr 25, 2012 12:09am Apr 25, 2012 12:09am
  •  DapperDan59
  • | Joined Sep 2010 | Status: Member | 66 Posts
Quoting 919gilead
Disliked
Trade closed for 13.7 pip loss.

The flat ADX did signify that there was no momentum at the moment, and I will try again during the London & U.S. sessions

George
Ignored
I think we are to take the lower time frames such as the 1 hour we have to think about locking in our trade as soon as possible, this system can whip around a bit sometimes.
 
 
  • Post #2,309
  • Quote
  • Apr 25, 2012 7:22am Apr 25, 2012 7:22am
  •  919gilead
  • Joined Jul 2010 | Status: Great hopes make great men | 2,027 Posts
Good morning DapperDan, and I'm glad I have a partner here. So let's do it

Quoting DapperDan59
Disliked
Yes let's get it going, I just bought a book called "$1000 to 1 Million in 80 days"
Maybe if we can get this thread resurrected or start a new one we can combine both and put together a trade log at the same time.
So with the book, obviously to achieve this kind of money in that period, it's all about compounding.
Ignored
Low Risk Low Stress High Reward High Probability Trades
 
 
  • Post #2,310
  • Quote
  • Apr 25, 2012 7:26am Apr 25, 2012 7:26am
  •  919gilead
  • Joined Jul 2010 | Status: Great hopes make great men | 2,027 Posts
I agree with you and should have taken the little profit when I noticed the ADX hanging down, and the currency strength meter showing exchange of power between the NZD & USD.

Anyway, I am just waking up and looking over my charts to see what is cooking. The dashboard shows few pairs in the vicinity of the balance line; and will take a look.

Quoting DapperDan59
Disliked
I think we are to take the lower time frames such as the 1 hour we have to think about locking in our trade as soon as possible, this system can whip around a bit sometimes.
Ignored
Low Risk Low Stress High Reward High Probability Trades
 
 
  • Post #2,311
  • Quote
  • Apr 25, 2012 8:20am Apr 25, 2012 8:20am
  •  DapperDan59
  • | Joined Sep 2010 | Status: Member | 66 Posts
Quoting 919gilead
Disliked
I agree with you and should have taken the little profit when I noticed the ADX hanging down, and the currency strength meter showing exchange of power between the NZD & USD.

Anyway, I am just waking up and looking over my charts to see what is cooking. The dashboard shows few pairs in the vicinity of the balance line; and will take a look.
Ignored
Yeah have had one loss tonight on the EUR... Which I might ad is not from the system, so I am only sticking to the system now.

Still in a USDJPY trade... Short from 81.090. This is from a cross on the blue on a 4hr chart... I am only speaking out a loud at the moment but I would like to slow things down a bit and trade only the 4hr time frame, what do you think?
 
 
  • Post #2,312
  • Quote
  • Apr 25, 2012 8:37am Apr 25, 2012 8:37am
  •  DapperDan59
  • | Joined Sep 2010 | Status: Member | 66 Posts
http://clip2net.com/clip/m82923/thum...clip-200kb.jpg

Here is an update of the entry on the USDJPY trade tonight. In with 2 mini lots.
 
 
  • Post #2,313
  • Quote
  • Apr 25, 2012 8:38am Apr 25, 2012 8:38am
  •  919gilead
  • Joined Jul 2010 | Status: Great hopes make great men | 2,027 Posts
There is no perfect system, so loss is to be expected and I will stick with the H1 TF and of course if you get a signal on the H4 TF, it probably will reflect on the H1 too.

I will trade this system in conjunction with currency strength & weakness and right now, I can't find any currency with any serious edge over the other. So I will wait until after the FOMC statement and rate announcement.

Cheers

Quoting DapperDan59
Disliked
Yeah have had one loss tonight on the EUR... Which I might ad is not from the system, so I am only sticking to the system now.

Still in a USDJPY trade... Short from 81.090. This is from a cross on the blue on a 4hr chart... I am only speaking out a loud at the moment but I would like to slow things down a bit and trade only the 4hr time frame, what do you think?
Ignored
Low Risk Low Stress High Reward High Probability Trades
 
 
  • Post #2,314
  • Quote
  • Apr 25, 2012 8:42am Apr 25, 2012 8:42am
  •  DapperDan59
  • | Joined Sep 2010 | Status: Member | 66 Posts
Quoting 919gilead
Disliked
There is no perfect system, so loss is to be expected and I will stick with the H1 TF and of course if you get a signal on the H4 TF, it probably will reflect on the H1 too.

I will trade this system in conjunction with currency strength & weakness and right now, I can't find any currency with any serious edge over the other. So I will wait until after the FOMC statement and rate announcement.

Cheers
Ignored
Yeah I think every one is waiting on the side until that announcement!!
 
 
  • Post #2,315
  • Quote
  • Apr 25, 2012 3:26pm Apr 25, 2012 3:26pm
  •  Good Lookin
  • | Joined Jun 2011 | Status: Mmeri | 872 Posts
Good stuff. I sometimes enter trades based on this system. Glad to see people are still using it.
 
 
  • Post #2,316
  • Quote
  • Apr 25, 2012 7:28pm Apr 25, 2012 7:28pm
  •  DapperDan59
  • | Joined Sep 2010 | Status: Member | 66 Posts
Quoting Good Lookin
Disliked
Good stuff. I sometimes enter trades based on this system. Glad to see people are still using it.
Ignored
I'm trying to incorporate more the Bill Williams side of trading which this actually comes from.. my USDJPY trade last night was a loss... moving on.
 
 
  • Post #2,317
  • Quote
  • Apr 25, 2012 8:18pm Apr 25, 2012 8:18pm
  •  919gilead
  • Joined Jul 2010 | Status: Great hopes make great men | 2,027 Posts
I am trying a filter method I will share if success in trading this method, and it is using the currency strength meter (CSM) for entry confirmation by trading only strong against weak currencies. When price gets to the BL, I will only take the trade if I get a CSM confirmation, otherwise I will pass. If you don't have a CSM, there are many free copies online and you can search and download from FF too.

Let's also create an active community here and share trade ideas as this way we can avoid premature entries and/or get second opinion. A Skype chat room may be a great start as everyone will receive instant notification unlike FF that lags and sometimes you don't get some notifications, and supporting charts can be posted on FF.

Just my one cent

Cheers,

George

Quoting DapperDan59
Disliked
I'm trying to incorporate more the Bill Williams side of trading which this actually comes from.. my USDJPY trade last night was a loss... moving on.
Ignored
Low Risk Low Stress High Reward High Probability Trades
 
 
  • Post #2,318
  • Quote
  • Apr 25, 2012 8:42pm Apr 25, 2012 8:42pm
  •  DapperDan59
  • | Joined Sep 2010 | Status: Member | 66 Posts
Quoting 919gilead
Disliked
I am trying a filter method I will share if success in trading this method, and it is using the currency strength meter (CSM) for entry confirmation by trading only strong against weak currencies. When price gets to the BL, I will only take the trade if I get a CSM confirmation, otherwise I will pass. If you don't have a CSM, there are many free copies online and you can search and download from FF too.

Let's also create an active community here and share trade ideas as this way we can avoid premature entries and/or get second opinion. A Skype...
Ignored
Ok, not a bad idea George, we will se how things go between us for the moment befire we expand into it.... I do have SKYPE already and it is good for this kind of use, esspecially when you can share screen for indications and teaching..
 
 
  • Post #2,319
  • Quote
  • Apr 25, 2012 8:53pm Apr 25, 2012 8:53pm
  •  919gilead
  • Joined Jul 2010 | Status: Great hopes make great men | 2,027 Posts
Great DapperDan. Skype id is Gilead919

Quoting DapperDan59
Disliked
Ok, not a bad idea George, we will se how things go between us for the moment befire we expand into it.... I do have SKYPE already and it is good for this kind of use, esspecially when you can share screen for indications and teaching..
Ignored
Low Risk Low Stress High Reward High Probability Trades
 
 
  • Post #2,320
  • Quote
  • Apr 25, 2012 8:56pm Apr 25, 2012 8:56pm
  •  DapperDan59
  • | Joined Sep 2010 | Status: Member | 66 Posts
Quoting 919gilead
Disliked
Great DapperDan. Skype id is Gilead919
Ignored
Just added you George!!
 
 
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