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  • #381
  • Apr 2, 2008 3:17pm Apr 2, 2008 3:17pm
Quoting w_z
instead of using the 3 ema, why not make it simpler and just use price + 34 sma instead?


A lot of pros trade with just one ma

Price can lag, the 3 Ema filter the moves, and is not laggy like price alone, and not to smooth for price
  • #382
  • Apr 2, 2008 3:19pm Apr 2, 2008 3:19pm


thanks golfer
  • #383
  • Apr 2, 2008 3:19pm Apr 2, 2008 3:19pm
The vouching system that you refer to here is an absolute JOKE. It's a good ol' boys club gone awry. 99.9% of these jokers have never met each other and they are vouching that they have completed over 1000 trades. I'm not speaking specifically about billbss. He seems to be very knowledgeable. I do, however, question the purpose of his post since he has not contributed anything.

Then again who really cares~why I am even writing this- boredom? most likely

Quoting Flamenco143
and give serious consideration to what he says. My money's on the probabilities he's been trading a lot longer than you have, and he has some pretty high powered traders that acknowledge his skills and abilities trading the forex. That's not my humble opinion, that's fact.
Trade what you see - Not what you think
  • #384
  • Apr 2, 2008 3:20pm Apr 2, 2008 3:20pm
Quoting summitfx
5. Leave your bias at the door and go with the charts. It took me a long time to learn this.. Trade what you see and not what you think.

Thanks again WF for the time you put in here.

ps: candlestix formations are fairly predictable

yes , but i use candle information of price action, its my way to interpret them.

i do not say not to use them

thanks summit
  • #385
  • Apr 2, 2008 3:27pm Apr 2, 2008 3:27pm
This chart of the EU speaks volumes about WF's simple rules. If followed, to the letter- there several decent trades here and several that would not have been entered. I get asked a lot by family and friends about trading and this simple little system is probably a great starting point for someone wanting to learn.
Attached Image (click to enlarge)
Click to Enlarge Name: display88.gif Size: 20 KB
Trade what you see - Not what you think
  • #386
  • Apr 2, 2008 4:02pm Apr 2, 2008 4:02pm
Hi Karim,

i think you still need a good name for your holy grail ^^

what about "Waterflames CCI" ;D - sounds as good as Woodies ZLR e.g.

btw:

did anyone of you made an Expert Advisor out of this? Karim told me, he is too shy to asking for, so I will do this instead

thanx Karim and the others,

cheers,

Markus
  • #387
  • Apr 2, 2008 4:41pm Apr 2, 2008 4:41pm
Quoting sepfms
Hi Karim,

i think you still need a good name for your holy grail ^^

what about "Waterflames CCI" ;D - sounds as good as Woodies ZLR e.g.

btw:

did anyone of you made an Expert Advisor out of this? Karim told me, he is too shy to asking for, so I will do this instead

thanx Karim and the others,

cheers,

Markus
machst mich noch verlegen Markus, mensch
  • #388
  • Apr 2, 2008 5:18pm Apr 2, 2008 5:18pm
Hi Flame!

Thanks so much for sharing the ELITE Trading System! This is a terrific blessing!

I saw your recent post displaying a screenshot with 6 currency pairs. The EUR/CHF and GBP/JPY were deleted from the original group of 4 pairs to trade. EUR/GBP, EUR/JPY, GBP/USD and USD/CHF have all been added. My question is do we continue to trade the original 4 pairs or do we adopt the new 6 pairs that appeared on your screenshot?

Also, in the lower right quadrant of the main pane, you have several timeframe references. Is there a way to activate the time so that it is useful? Mine are static and of no use. If we cannot activate the timeframes, how can I delete them and remove them from the screen?

Keep up the GREAT work!

Bob in Wisconsin
  • #389
  • Apr 2, 2008 6:25pm Apr 2, 2008 6:25pm
Quoting Bobcat2
Hi Flame!

Thanks so much for sharing the ELITE Trading System! This is a terrific blessing!

I saw your recent post displaying a screenshot with 6 currency pairs. The EUR/CHF and GBP/JPY were deleted from the original group of 4 pairs to trade. EUR/GBP, EUR/JPY, GBP/USD and USD/CHF have all been added. My question is do we continue to trade the original 4 pairs or do we adopt the new 6 pairs that appeared on your screenshot?

Also, in the lower right quadrant of the main pane, you have several timeframe references. Is there a way to activate the time so that it is useful? Mine are static and of no use. If we cannot activate the timeframes, how can I delete them and remove them from the screen?

Keep up the GREAT work!

Bob in Wisconsin
i change the pairs from time to time, i take a look on them and choose what would worth to be traded
I recommanded low spread pairs what moves in good waves when the market is healthy, most of them you can see in the examples

It depends also on you to choose the pairs what fits you
  • #390
  • Apr 2, 2008 6:44pm Apr 2, 2008 6:44pm
what would be your call on always having a hard stop?I want to keep this sytem as close to mechanical as possible.I tend to think to much when I trade.I got into the eur/jyp,a couple hours ago.It was a sick market again or maybe you would call it lazy.I held onto it for about an hour then relized it was going nowhere and got out with 2+ pips.Did you take that trade?Thanks again for your help.
  • #391
  • Apr 2, 2008 6:53pm Apr 2, 2008 6:53pm



[quote=Mantorp;1933640]thanks to my one year of high school French I only understood the PS part
Less is more...
  • #392
  • Edited 7:28pm Apr 2, 2008 7:07pm | Edited 7:28pm
Quoting jlmac27
what would be your call on always having a hard stop?I want to keep this sytem as close to mechanical as possible.I tend to think to much when I trade.I got into the eur/jyp,a couple hours ago.It was a sick market again or maybe you would call it lazy.I held onto it for about an hour then relized it was going nowhere and got out with 2+ pips.Did you take that trade?Thanks again for your help.
hard stops are the last thing we would assume in a trade, after loosing also stop loss, or our zero loss spread close.

i was in this trade and was out with zero loss

i have traded it right now again with a 100% CCI entry scalp of 6 pips

Follow the market, its the market who will give you and show you

sometimes weak, most times very good
  • #393
  • Apr 3, 2008 2:36am Apr 3, 2008 2:36am
I got out with about 30+ Pips on the EurJpy yesterday. Shouldn't have taken a trasde like that though, was not even moving properly although it picked up later during the new york session.
  • #394
  • Apr 3, 2008 3:14am Apr 3, 2008 3:14am
Quoting Waterflame
this will be explained step by step

Reading news time ( if im not a news trader, to avoid news events )

1 - Setting up charts

2 - Drawing Support Resistance ( of previous and current area )

3 - Drawing Trendlines ( of previous and current area )

4 - Drawing Fibs

5 - Identifying Market Mood

6 - Looking for an advertising Candle

7 - Observating confirmation Candle

8 - Using the System with rules

thats how i proceed
Hello Waterflame

You think indicator Fibonacci pivots for S/R and indicator DeMark Trendline Trader go on whith your system ?
A+
  • #395
  • Apr 3, 2008 5:35am Apr 3, 2008 5:35am
Hi, Waterflame,
as I promised, but is only a week, I haven't time enough...
simplest system ever!
and the two losses was a mistake of mine, not the system.....
Attached File(s)
File Type: doc UCad 34CCi vegas.doc   313 KB | 804 downloads
I don't say
  • #396
  • Apr 3, 2008 5:57am Apr 3, 2008 5:57am

Trades


http://www.fileden.com/files/2006/7/...ood-energy.gif


One thing I have noticed while trading this system during "healthy" market conditions is a lot of the time when the 15m, 30m, and 1h charts all have the cross down or cross up happening at the same time the chances that the trade will go in my favor go way up. I use the 50ema -100sma -200ema, fibopivot.mq4, fibonnacci and trend lines for my support and resistance levels. When I want to analyze a bit further I look at the angle of my Stochastics, Momentum, and CCI to determine the strength of a possible move up or down and sometimes I will increase my lot size If it is a really strong move.

The other day I mentioned that I was up 4 pips for the day, but because I had risked a bigger lot size on the winning trades and a smaller lot size on the loser I was actually much better off in monetary terms. I also mentioned a professional trade call another trader made who I followed that had a huge drawdown with 2 mini lots + spread(8) x2 = -16 + -220 pip loss = -$456. which blew out my awesome day on Monday. We were going for 600 pips so the risk/reward ratio was good. Anyways this trade had nothing to do with this system. I wanted to clarify so people are not confused.

Overall with this system over the last 4 days I am way up, and because of my horrible loss the other day I will no longer follow anyone else’s stop loss suggestion. I will also not do too many long term trades since they play with my head while I watch them go huge negative for days. My maximum stop loss on any trade now will be 40 pips. When I go into a trade heavy I set a tighter stop loss to protect myself. My new money management method is based on my stop loss and not on % of my account.

I am a pretty new trader so I am open to other suggestions on what you guys do to increase your profitability.

Hope this helps someone.

-Kevin

One more thing... Often times when I get into 20 pips profit I will exit part of my trade and set a stop loss @ break even or with a 15-20 trailing stop and let it run.
  • #397
  • Apr 3, 2008 6:01am Apr 3, 2008 6:01am
Quoting dragosd1
Hi, Waterflame,
as I promised, but is only a week, I haven't time enough...
simplest system ever!
and the two losses was a mistake of mine, not the system.....
This seems almost too good to be true.

Is this an EA you can make availible for all of us to test out?

-Kevin
  • #398
  • Apr 3, 2008 6:44am Apr 3, 2008 6:44am
Quoting cmfxmen
Hello Waterflame

You think indicator Fibonacci pivots for S/R and indicator DeMark Trendline Trader go on whith your system ?
A+
they are trading basics you have to know as a beginner
  • #399
  • Apr 3, 2008 6:45am Apr 3, 2008 6:45am
Quoting dragosd1
Hi, Waterflame,
as I promised, but is only a week, I haven't time enough...
simplest system ever!
and the two losses was a mistake of mine, not the system.....
amazing, thanks dragos
  • #400
  • Apr 3, 2008 7:00am Apr 3, 2008 7:00am
[quote=Kevyluvu;1934826]

Trades


One thing I have noticed while trading this system during "healthy" market conditions is a lot of the time when the 15m, 30m, and 1h charts all have the cross down or cross up happening at the same time the chances that the trade will go in my favor go way up.

I did ot say to not to use multi timeframes, i said jsut that i don't do that,
because anyway if the market is pullbacling on higher timeframes, or weakening, you will go with the move. So catch just one imeframe what fits your risk management.

The other day I mentioned that I was up 4 pips for the day, but because I had risked a bigger lot size on the winning trades and a smaller lot size on the loser I was actually much better off in monetary terms. I also mentioned a professional trade call another trader made who I followed that had a huge drawdown with 2 mini lots + spread(8) x2 = -16 + -220 pip loss = -$456. which blew out my awesome day on Monday. We were going for 600 pips so the risk/reward ratio was good. Anyways this trade had nothing to do with this system. I wanted to clarify so people are not confused.

Overall with this system over the last 4 days I am way up, and because of my horrible loss the other day I will no longer follow anyone else’s stop loss suggestion. I will also not do too many long term trades since they play with my head while I watch them go huge negative for days. My maximum stop loss on any trade now will be 40 pips. When I go into a trade heavy I set a tighter stop loss to protect myself. My new money management method is based on my stop loss and not on % of my account.

Nice

I am a pretty new trader so I am open to other suggestions on what you guys do to increase your profitability.

trade with 1 volume until you have a 1k , 2 volume to 1,5k and increasing everytime you reach this conditions

Hope this helps someone.

-Kevin

One more thing... Often times when I get into 20 pips profit I will exit part of my trade and set a stop loss @ break even or with a 15-20 trailing stop and let it run.

Thats too very good

[/quote]

The system is open to you, no matter what for a style or risk patterns you are following, maybe adding some indicators for yourself to be assured for the move ( me personally im satified ), as i said its up to you.

Just follow the rules!
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