DislikedHi johnedoe,
Confused in what aspect(s)?
Can you mention more?
ThanksIgnored
Same Whore .... Different Dress
Newbie asking a newbie interest rate question: 1 reply
the simple but very effective system with trading records! 61 replies
Best simple trading system for a kind of a newbie 6 replies
DislikedHi johnedoe,
Confused in what aspect(s)?
Can you mention more?
ThanksIgnored
DislikedJust stumbled onto this reply now by accident. Hey please don't knock it till you've tried it. Traex typically does 500 pips plus per week. Yes you read right, per week with a very high win %.
To follow his trades whilst you are learning to put your own trading style together would be very good indeed. Then once you have a system if he gives a call make sure your own system confirms.
Just my view obviously and I respect yours.Ignored
DislikedVery good Elliott wave trader. Go through his thread, Harmonic Wave Journal, see how consistent he is and decide if you want to follow his trades.Ignored
Dislikedmany thanks........i've never visited that thread as the title sort of sound too technical and complex for me.........
so you mean he'll post his trades before he takes them ? if that's the case and makes 500 pips per week........i don't mind worshipping him as a deity....
anyway, today very very frustrating for me as i wasn't around and missed the breakout of usd/chf and eur/usd...........i seem to miss profitable opportunities but not the losing ones.......Ignored
DislikedAfter you set up the MA then put a stochastic oscillator (not the stochastic indicator) on your screen. Use the settings 5,3,3 with it set on close/close and linear weighted. When it is near 100 be ready to close your buys and prepare to open a sell when it crosses down with the 1MA crossing the 5MA. When it is near 0 get ready to close your sell and prepare to open a buy when the 1 MA crosses back up over the 5MA. This system works on any time frame but I like the 4H or 1 day charts so I don't have to be watching over my computer all day. Place stops above/below the 5 MA to protect sudden market turnarounds. Take your profit and wait for you next opportunity. Works on any currency pairs.
Good luck,
Bob
[IMG]file:///C:/Documents%20and%20Settings/dad/Desktop/eur%20usd%204h.gif[/IMG]Ignored
DislikedAfter you set up the MA then put a stochastic oscillator (not the stochastic indicator) on your screen. Use the settings 5,3,3 with it set on close/close and linear weighted. When it is near 100 be ready to close your buys and prepare to open a sell when it crosses down with the 1MA crossing the 5MA. When it is near 0 get ready to close your sell and prepare to open a buy when the 1 MA crosses back up over the 5MA. This system works on any time frame but I like the 4H or 1 day charts so I don't have to be watching over my computer all day. Place stops above/below the 5 MA to protect sudden market turnarounds. Take your profit and wait for you next opportunity. Works on any currency pairs.
Good luck,
Bob
[IMG]file:///C:/Documents%20and%20Settings/dad/Desktop/eur%20usd%204h.gif[/IMG]Ignored
DislikedAfter you set up the MA then put a stochastic oscillator (not the stochastic indicator) on your screen. Use the settings 5,3,3 with it set on close/close and linear weighted. When it is near 100 be ready to close your buys and prepare to open a sell when it crosses down with the 1MA crossing the 5MA. When it is near 0 get ready to close your sell and prepare to open a buy when the 1 MA crosses back up over the 5MA. This system works on any time frame but I like the 4H or 1 day charts so I don't have to be watching over my computer all day. Place stops above/below the 5 MA to protect sudden market turnarounds. Take your profit and wait for you next opportunity. Works on any currency pairs.
Good luck,
Bob
[IMG]file:///C:/Documents%20and%20Settings/dad/Desktop/eur%20usd%204h.gif[/IMG]Ignored
DislikedThere is a very steep learning curve for beginners.
Based on my experience, I suggest that you diversify and invest some of your money in forex managed funds.
Exactly 1 month ago, I opened an account in the Sentiment Aggressive Fund through a brokerage called Self-Actualizer Financial Solutions (http://www.self-actualizer-fs.com) because they give a reduction in the performance fee from 20% to 15% for the first 90 days of new accounts.
My account in that fund is up more than 9% by now after the performance fee for the 1 week in October that my account was active was subtracted. At the same time, my accounts in mutual funds are all down (as much as 12%) relative to where they were 1 month ago.
That fund has had a return of 52% for July-October, 2007. At the moment you can open an account in this fund and the Sentiment Fund with only $1,000, but this minimum will increase to $5,000 on Dec 1.
Also, these funds are completely liquid, so that you can withdraw some of your money (if you keep the min.) or all of it at any time.Ignored
DislikedThe sto is one way and the other is use a 4H or 1 day chart. It only crosses 2 or 3 times a week on a 4 h chart. Even if it turns around it still does quite a few pips before crossing back on the 5 MA. Basically I will enter when price crosses the 5 and it almost always keeps going for a while. Watch out for the news stories cause that is usually the only time it will do that, go against you suddenly. The distance from white line to white line is 1 week on a 4H chart.
BobIgnored