Generally EUR/USD, GBP/JPY, GBP/USD, USD/CHF
But if i see a good setup on any other pair i won't pass it on.
:
- #261
- Mar 6, 2008 7:24am Mar 6, 2008 7:24am
- Joined Jun 2007 | Status: Unconventionable Conventionist | 2,768 Posts
:
From a technical point of view, i understand why you would have preferably picked the Blue line for entries as all others after it maintained a movement within the formers body. Looked at on a lower time frame this would be a consolidation, hence trading on the extreme high would be the smartest thing to do in order to enter on the consolidating break out.
I think however the question was system based, in which case the Red line would be the one used for entry as it were it's candle that last retraced to the EMA.
Regards,
E. Lang
REFERENCE: Post #229
Yep, that's why I added the "disclaimer" that this may not be what you would do
. And I'm not tryin to change/add anything to this system.Just at first glance of that pic posted, it looked to me like up to the blue line, price could have, and very nearly did reverse. Also, based on the previous couple of candles in the pic, I would have treated it as an area of formed resistance that had to be broken first.
But hey, this is not my system or my thread
:. Sorry to butt in. Didn't mean to hijack.
Carpe Divitiae
- #265
- Edited Mar 7, 2008 1:05am Mar 6, 2008 2:53pm | Edited Mar 7, 2008 1:05am
- | Commercial User | Joined Nov 2006 | 1,013 Posts
MY SL is below 205.82 - Since we are in a range, it's a little wider than normal, but thats only because my bias is long.
I'm not wrong till the market says so
and i'm not right till the market says so either.
Regards,
E. Lang
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"By all means let's be open-minded, but not so open-minded that our brains drop out."
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I'm not wrong till the market says so
and i'm not right till the market says so either.Regards,
E. Lang
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"By all means let's be open-minded, but not so open-minded that our brains drop out."
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"One Grows Tall After Walking Through A Forest Of Tall Trees."
- #267
- Mar 11, 2008 4:28pm Mar 11, 2008 4:28pm
- | Joined May 2007 | Status: Seasoned Trader | 820 Posts
Is this system to basic or simple to sustain interest? Well, for me it's the cats meow. I've been using this system for almost two weeks now and have easily worked my way out of a 500+ pip hole I created two weeks ago when I held onto a loser too long. Now I'm up 500pips thanks to effilang.
Here's a trade I took last night. I was stopped out originally when I took a short, but soon I recognized the divergence and realized price would probably head back up to retest the weekly pivot. I entered with three lots and exited two @ 205.90 when stochs appeared overbought. Exited last lot @ 206.90.
This system fits me like a glove. The more I use it the more in sync I become with the price action. I watch four timeframes on the GBPJPY pair only and this works well for me because I have limited time to watch the market. I would go on about the details of how I use this system but I'm sure effilang would agree that each trader need to find their own cumfort zone and method.
Thanks again effilang. You're way cooler than the Geico gecco!
Here's a trade I took last night. I was stopped out originally when I took a short, but soon I recognized the divergence and realized price would probably head back up to retest the weekly pivot. I entered with three lots and exited two @ 205.90 when stochs appeared overbought. Exited last lot @ 206.90.
This system fits me like a glove. The more I use it the more in sync I become with the price action. I watch four timeframes on the GBPJPY pair only and this works well for me because I have limited time to watch the market. I would go on about the details of how I use this system but I'm sure effilang would agree that each trader need to find their own cumfort zone and method.
Thanks again effilang. You're way cooler than the Geico gecco!
Is this system to basic or simple to sustain interest? Well, for me it's the cats meow. I've been using this system for almost two weeks now and have easily worked my way out of a 500+ pip hole I created two weeks ago when I held onto a loser too long. Now I'm up 500pips thanks to effilang.
Here's a trade I took last night. I was stopped out originally when I took a short, but soon I recognized the divergence and realized price would probably head back up to retest the weekly pivot. I entered with three lots and exited two @ 205.90 when stochs appeared overbought. Exited last lot @ 206.90.
This system fits me like a glove. The more I use it the more in sync I become with the price action. I watch four timeframes on the GBPJPY pair only and this works well for me because I have limited time to watch the market. I would go on about the details of how I use this system but I'm sure effilang would agree that each trader need to find their own cumfort zone and method.
Thanks again effilang. You're way cooler than the Geico gecco!
How are you? Hope all the work is going well. Is the blue line on the stoch and the blue line on the price pain the location of the divergence? And is the divergence where the stoch is heading up but the price makes moves lower, indicating the swing reversal? Can you elaborated if I am right and explain if I am wrong? Thanks M_MM, and I'm still loving the series!
-Pipimint
Enjoy it while it lasts, then pay for it. Be Grateful.
- #269
- Mar 12, 2008 12:08am Mar 12, 2008 12:08am
- | Commercial User | Joined Nov 2006 | 1,013 Posts
"One Grows Tall After Walking Through A Forest Of Tall Trees."
Took the nice trade on the GBP on the 11th at 6:30 Pst. Great system Effilang! I don't know how anyone could vote Margin Call on the poll! $$$
- #272
- Mar 12, 2008 2:50am Mar 12, 2008 2:50am
- | Commercial User | Joined Nov 2006 | 1,013 Posts
"One Grows Tall After Walking Through A Forest Of Tall Trees."
- #274
- Mar 25, 2008 9:25pm Mar 25, 2008 9:25pm
Agreed,
This system is hand in hand with raw price action.Neglecting price action is a for sure failure to any trader.Indicators work the best they can and I think if used in the right sense can benifit your trading......BUT....you must know the raw root of price action to become sucessful.As in anything in life learn the principles and the rest will fall into place!Thanks again Effi for this system,I really don't want to see this thread die,I hope more people will read and contribute!!Good trading to all of you!!...Josh
MG
- #275
- Mar 25, 2008 9:31pm Mar 25, 2008 9:31pm
- | Commercial User | Joined Nov 2006 | 1,013 Posts
It's a price action system; It can't die.
The thread is here, i don't have anything else to share on the system
Regards,
E. Lang
The thread is here, i don't have anything else to share on the system
Regards,
E. Lang
"One Grows Tall After Walking Through A Forest Of Tall Trees."
Hi to All!. First, many tanks to Efi for your contribution in this and other forums to open my forex world. Just a little question about how you ponder this system vs. your 25/50 system?
For other side, some brokers don’t allow traders to use OCO in other direction that primary order (to use this feature for automatic polarity change). Somebody knows what broker allow this feature?
Gorje.
For other side, some brokers don’t allow traders to use OCO in other direction that primary order (to use this feature for automatic polarity change). Somebody knows what broker allow this feature?
Gorje.
