GBP/USD or EUR/JPY or.... Whatever's moving!!

The thread: This thread will deal mainly with the GBP/USD & EUR/JPY, However, we will trade pairs with the best entry's. The idea is to learn the system and have several people looking at a couple pairs and alert us when they are starting to set up. I can show you how to do this, and it is very easy to do. You can trade whatever lot size you want, and I would advise doing it in such a fashion that you can pull have off to lock profit. I will show you how to trade Pivot Point to Pivot Point and pull half and then set a 100 Pip limit on the rest, if you would prefer this way of trading, but basically its so newbys can get a good start. You will be amazed how many trades go all the way to the limit. I have also placed my template below to make it easier.

Rules for this thread. I dont want to hear anyone asking, " Which way do you think it will go" If you have to ask this, then shut up and watch the thread and learn. Here is a school format that is really good reading on the weekend. WWW.BABYPIPS.COM. You will pick this up, it's very easy. If you have come to criticize the thread, I will eliminate you immediately. If anyone belittles any one in here, I will eliminate you immediately. I dont want to hear, " I think its going up or I think it's goin down". We can see that. We want to hear solid evidence using these charts and using regular long term charts with 1 Hr, 4 Hr and Daily. That is all you need. If your looking out on the weekly, your in the wrong thread. Don't want to hear it. Simple trendline trading on the longer term chart to find out where it could go then entering on the smaller timeframes. Thats it and it could be very profitable if we do it right.

The Plan: The plan here is to start off small. You can start with $500 if you want to trade micros, that cool. The idea is to trade 2 micros or 2 Minis or 2 standards. You get a good entry and you know its going to hit the next Pivot Point at the least, usually, unless you hit a top somewhere. If you go pick your tops and bottoms you can find the in betweens and thats where the group comes in. We should know where all the tops are and we will share. You dont have to trade this way, but we may have some newbys and this may be a good way to teach them. Thank you and good Luck. I have placed the Smoothy Template along with a trendline alert executable which will alert you when the price touches it.




Thanks, Jim

Here is what it looks like on the E/J. Notice the fluid movements of this pair. If you look back you will see there were 910 available Pips that could have been captured with this system just last week. And backchecking you can find that every week. Sometimes the trades run on and on. Like the second chart the week before ran on for 400 Pips. All you have to remember is keep your stoploss behind the, " Telephone Wires" which is the 89 smoothy, an 89 moving average set to smooth high, low and close. We will get into more of that later.

Nice method

Keep it coming!

Personally, I like simple and visual approaches... basically, forgive if I'm wrong, it's a trend following, "whatever it goes", right?



Cheers!

Medium term, but you know what? Nobody makes you trade against the trend. You can just trade with the trend here and have a high sucess rate, but since you are trading a break and trading short term you can trade against with very little stoploss.

I think, IMHO, that the so called "long term trend" is an obvious discovery, unfortunately seen only in a rear-view mirror, cause when it is happening, nobody can predict how long it will last, or when it is going to turn the corner. Thast's why I don't like those "loooong" timeframe systems. I believe if there is a long trend, it is made of small pieces of trends that are reflections of the market expectations, and they are far away of being constant, in fact it turns quickly, in some hours or maybe days. I like, as you posted on the beginning, to follow these medium term trends, using 1H, 4H and Daily... see where the market has been moving, then jump into a smaller Timeframe to pick a better entry point.

Thanks!

Jim,

Congratulations on starting the new thread!
I'm sure many will benefit.
Good luck with it.

Rob

hi

i am goona test it next week.

i will let u know on live account.

thx again

nice addition pal

Hey, I have relatives named VanHook. Where are you from?

Jim

Hello everyone, and welcome to my thread. First off I want to stress that it is Sunday and the E/J pair is in a 15 Min triangle. Both the 1 Hr and the 4 Hr Timeframes show the pair can go either way, however, there is a recent 1 Hr high at 162.46. My initial reaction would be to look for a short here sometime tonight. Mainly because the pair is in a 15 Min Triangle. Unfortunately the Smoothy is below and in the way. Before I say any more I want to see where the open takes us and go from there. Bu the way, I am looking at IBFX.

Here is a pic. of the 1 Hr with the price at the DTL, (Down Trend Line )

This looks like a good pair to stay with for now. It is setting up for a nice move. A gap up to around 162.50 would be a welcome sight. I would place a short order with 3 minis and pull 2 minis off at 10-15 pips. I would then pull my stop up to B/E and set T/P on the remaining mini at 100 pips. But remember, its Sunday night and things dont go the way we want at times.

Jim

Jim,
Sent you an E-mail with answer

sent reply

Here is a pic of a nice trade from the Aussie dollar that was entered on the 15th and is still going strong at 225 pips. Notice that by keeping your stop below the 89 Smoothy you can keep adjusting it up. Below is the entry example. Notice the break of the smoothy and the test. There are 3 differant entry points and after awhile you will get a sort of 6th sense about whether a cross is risky or not.

Do you believe AUDUSD will continue to go up? It has gone up so much. Don't you think it might be time for a downward correction, even just for a little?

technically we should be in for a drop but as u know aud/usd is a commodity currency and gold is back on track heading north. just be carefull and check gold prices before u enter a trade in aussie.

I dont even ask myself that question. I don't put myself in a position where I may sway myself one way or another. Now, on the other hand, it is at the bottom of a nice little 1 Hr triangle which tells me it may go up. And the 4 Hr it is at a high right now. So we wait and see, one has to give in to the other. But I never THINK its may do this or that. Thinking a direction is a recipe for disaster.

This trade is over as far as we are concerned. It is too far from the 89 to enter. It may keep going up, but i am not going to cry if it does. The purpose of this thread is to find the BEST entrys, to have a group of people looking and spotting entries and calling them up for discussion. Then we can say for example: 90% good entry, enter at your own risk, or risky entry, enter at your own risk....etc

With this system, we arent going to worry about gold prices or anything like that. We dont really have to. The only thing we dont want to do is get into anything just before a news release. Now we may get into some news momentum after the news, if you know what I mean.

Jim