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Trade the Slope System 453 replies

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"Trade the slope" journal

  • #261
  • Jan 16, 2008 8:56am Jan 16, 2008 8:56am
One thing I wanted to point out. If you trade the Aud/Nzd, look at the daily chart right now. It has been switching between from blue to red. This is why you should wait until the candle for the TF closes.

Pete
  • #262
  • Jan 16, 2008 9:45am Jan 16, 2008 9:45am
Quote
I would also recommend, Trading in the Zone.

what do u mean by the above statement?

thanks
  • #263
  • Jan 16, 2008 9:52am Jan 16, 2008 9:52am
The book titled, Trading in the Zone.

Pete
  • #264
  • Jan 16, 2008 9:53am Jan 16, 2008 9:53am
SL hit for Eur/Gbp +300

MTD +350
YTD +350
  • #265
  • Jan 16, 2008 9:54am Jan 16, 2008 9:54am
hi,

If you look at ematrader's doc on slope system. he always look for trading opportunities from daily at 5pm est. I think that daily candle for most broker would just be starting..... and he based his narrow-down searching for same slope in all the lower time frame there after.

Another thing that might be of help to know when slope is changing apart from the change of slope to (0) zero, is the use of trendlines and fibo.

I believe that pete sl on gbpusd was hit because gbpusd was already oversold and i think that we will experience change in slope latest by thursday 5pm est time.

My 100 naira contribution
  • #266
  • Jan 16, 2008 10:00am Jan 16, 2008 10:00am
Pete,

I've been looking for this book and couldn't get it. how can u help with it. I learnt that its a must read for any trader that want to do well in fx.

Thanks teacher
  • #267
  • Jan 16, 2008 10:19am Jan 16, 2008 10:19am
Naija,

Sounds good. Consistently follow YOUR system.

Pete
  • #268
  • Jan 16, 2008 2:56pm Jan 16, 2008 2:56pm
SL hit Usd/Jpy +200

MTD +650
YTD +650
  • #269
  • Jan 16, 2008 5:01pm Jan 16, 2008 5:01pm
Long usdcad @ 1.0252
  • #270
  • Jan 16, 2008 6:04pm Jan 16, 2008 6:04pm
Long Aud/Nzd at 1.446
Short Nzd/Usd at .7688
  • #271
  • Jan 17, 2008 4:20am Jan 17, 2008 4:20am
SL hit Usd/Chf +100

MTD +650
YTD +650
  • #272
  • Jan 17, 2008 4:22am Jan 17, 2008 4:22am
Short Eur/Usd at 1.4621
Short Eur/Gbp at .7420
Long Gbp/Usd 1.9707
  • #273
  • Jan 17, 2008 5:41am Jan 17, 2008 5:41am
Quoting PTOURNIS
Guys,

You need to remove emotion from your trading. Find a set of rules that give you consistent gains and follow them. Do not waiver. This is probably the hardest thing to do as a trader. Read the rules for turtle trading. Dennis Richards stated that anyone can learn the rules for his method of trading but most would fail because you must follow them CONSISTENTLY. Not sometimes. Every time. This method of trading the slope is a good one as there are others on this forum. Pick one, mold it to your liking, and follow it consistently. I would also recommend, Trading in the Zone.

Pete

You are right Pete... My poor money management in terms of exits has killed me this week. It basically caused the losers to lose and the winners to win, but not to their potential. Oh well, this is what practicing is about. Unfortunately I wont be practicing for the time being since today I found out that a managed forex account that I "invested" in, turned out to be a scam and Im waiting to see if I will see any of my REAL and significant money again.
  • #274
  • Jan 17, 2008 7:23am Jan 17, 2008 7:23am
Ptournis:

Are you using the EA for opening positions? Daily, H4, H1, M30 to entry--Or manually opening a trade when all 4 signals are in agreement?

Regards,

COTtrader
"Ken"
Decisions Determine Destiny -
  • #275
  • Jan 17, 2008 8:10am Jan 17, 2008 8:10am
Naija

Was it DxSynergy?

Pete
  • #276
  • Jan 17, 2008 8:11am Jan 17, 2008 8:11am
COTrader,

Manually.

Pete
  • #277
  • Jan 17, 2008 5:06pm Jan 17, 2008 5:06pm
Short eurusd @1.4634
Short eurgbp @ 0.7525
  • #278
  • Jan 17, 2008 6:07pm Jan 17, 2008 6:07pm
Short Usd/Jpy 106.43
Short Aud/Usd .8737
  • #279
  • Jan 17, 2008 7:28pm Jan 17, 2008 7:28pm
Moved SL on Nzd/Usd +10
  • #280
  • Jan 17, 2008 9:26pm Jan 17, 2008 9:26pm
Quote
I believe that pete sl on gbpusd was hit because gbpusd was already oversold and i think that we will experience change in slope latest by thursday 5pm est time.

We can actually see that the slope has changed as predicted. i will still take caution because the slope is still zero(flat and not curve) but might pull the trigger next week or during the day.

Thanks pete for making me to have confidence in this system.

I have made over 800pips using this system just in 10 trading days......

Attached is the screen shot of cable to view what i mean by ;slope being flat
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 26 KB
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