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Simplicity is the ultimate form of sophistication ( Elite )

  • #781
  • Edited 9:55am Sep 23, 2008 8:40am | Edited 9:55am
[quote=dznmrd;2231747]This system is pretty amateur and simple, its great for newbies, but advanced traders, their totally aware that crossover systems are kinda ancient .

SIMPLICITY is the ultimate form of SOPHISTICATION!

You can't consider me a newbee since I make my living trading for probably longer than you've been trading. I wish you, as an 'advanced trader' who is apparently above us 'simpletons' who like a couple of MA's and only the CCI all the best in your trading.

Meanwhile, I'll be laughing all the way to the bank along with a few more of my 'non-advanced' buddies. And by the way, I am very familiar with Dean's 'Advanced Course'. I've traded with it, and I gave it up a few months back for a better but amateurish and simple system/strategy that I found right here, and it didn't cost me a cent!
  • #782
  • Sep 23, 2008 11:24am Sep 23, 2008 11:24am
Quoting cmfxmen
Hello Lietuve

Thank for answers look the setup it's ok ? Can you explain a litle more when you entry exaclty with this setup if you can post a few charts of your entry with explanation that will cool

thanks
Regards
Here is how I trade when the market is flat: sell at high fib band buy at low fib band. It lasted the whole night and was a lot of fun. Now, though, the MAs are crossing so let's get back to see if the downtrend will develop. Remember, originally Waterflame's target was 10 pips after the cross!
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  • #783
  • Sep 23, 2008 12:11pm Sep 23, 2008 12:11pm
Now waiting for a candle to close and see. Target secured by s/l. Live charts attached. Simple, isn't it!
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  • #784
  • Sep 23, 2008 12:34pm Sep 23, 2008 12:34pm
I know... the s/l was not by the rules and so on..., but I've been working all night and wanted to secure my 10 pips and get some rest. Later I will look for a better entry if downtrend will go on a higher time frames.
Results: open short @ 155.33; closed short @ 155.05. 28 pips in a matter of 2 hours. I am not greedy and don't cry for pips I would have had, I am happy with what I have. Simple.

Cheers,
Lietuve
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  • #785
  • Sep 23, 2008 10:43pm Sep 23, 2008 10:43pm
Good points Flamenco!
I don't go to a bank yet, cuz' I'm compounding my account now... but it grows and pretty soon I will.
What I like about this system - you never blow out your entire account - if you stick to rules, it's just impossible! Very safe, and with right MM - we all can live on Hawaii!

Cheers
  • #786
  • Sep 24, 2008 3:44am Sep 24, 2008 3:44am
Another cross - I am waiting to get into a trade. MAs crossed 1 hour before
German ifo business confidence data. It came out worse than expected (the blue/black candle).
I remember the discussion here how big a candle should be to be caled Monster Candle? Let's see: Fibo bands width 62 pips. White candle before news 96 pips. I guess I can call this white/blue before news candle the Monster Candle.
So inspite of the cross, no trade for me. Waiting.

Cheers,
Lietuve
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  • #787
  • Sep 24, 2008 5:25am Sep 24, 2008 5:25am
Bought chfjpy - this time s/l by the rules;
bot @97.68, S/L @ 97.48 (low of the signal candle).
Let's see how this one is going to work.
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  • #788
  • Sep 24, 2008 5:47am Sep 24, 2008 5:47am
Quoting lietuve
Bought chfjpy - this time s/l by the rules;
bot @97.68, S/L @ 97.48 (low of the signal candle).
Let's see how this one is going to work.
Oh, well, part of the game! S/L was taken out and we are crossing down back again. I'll wait till H1 candle close and see is it a new signal candle of crossing down, or we are going into range again.
Loss = 20 pips.
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  • #789
  • Sep 24, 2008 6:08am Sep 24, 2008 6:08am
I guess that's a sick market condition Waterflame warned not to trade. MAs crossing up and down on every candle.
I will wait for NY open and see what's developing then.
Anybody trading the system, or just me keeping the thread alive?
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  • #790
  • Sep 24, 2008 6:25am Sep 24, 2008 6:25am
Hi guys,

I'm sorry this must seem such a stupid question but I'm having a hard time trying to understand what actually constitutes a entry signal. I've looked at the first post and read and I still can't seem to pin point which is the actual entry candle - I have put two arrows in both directions and I'm using the MA colour thing, I was hoping someone could please tell me which one is the setup candle 'advertising' and the actual candle that you actually initiate the trade on.

Thanks,
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  • #791
  • Sep 24, 2008 7:51am Sep 24, 2008 7:51am
Hello Lietuve

thanks for sharing your charts now we understand how you use your fibo indicator for entry

For me i use exactly Elite system by Waterflame

Regards
  • #792
  • Sep 26, 2008 7:52am Sep 26, 2008 7:52am
Waterflame, Can you explain the lines in the CCI for me. I noticed that they have a color line proceeding the others. Thanks fxBill
  • #793
  • Sep 27, 2008 5:57am Sep 27, 2008 5:57am
Hello all

Just this post for to show what i anderstood for use "Elite system"

regards
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  • #794
  • Sep 27, 2008 6:10pm Sep 27, 2008 6:10pm
Quoting cmfxmen
Hello all

Just this post for to show what i anderstood for use "Elite system"

regards
Knew it would happen eventually. Now it's time to take the 'Simplicity' word out of this thread and rename it "Confusion is the Ultimate Prelude to Failure!"

Are you really attempting to trade this system with a chart looking like this?
  • #795
  • Sep 28, 2008 3:07am Sep 28, 2008 3:07am
Quoting Flamenco143
Knew it would happen eventually. Now it's time to take the 'Simplicity' word out of this thread and rename it "Confusion is the Ultimate Prelude to Failure!"

Are you really attempting to trade this system with a chart looking like this?
Hello Flamenco143

Maybe you has not read all the thread have a look at this link http://www.forexfactory.com/showthread.php?t=85226 i think "simplicity" doesn't mean "simplest" and for avoid a lot of false signals we have to do find mechanical analisys process from fundamental analisys process but i'm not sure for nothing i'm just newbie who try to understand (1year on Forex and not profitable yet) but you look a protrader please correct my wrong way and share your vision for entry with this system for help all newbies here

Regards
  • #796
  • Edited 7:05am Sep 28, 2008 6:33am | Edited 7:05am
Quoting cmfxmen
Hello Flamenco143

Maybe you has not read all the thread have a look at this link http://www.forexfactory.com/showthread.php?t=85226 i think "simplicity" doesn't mean "simplest" and for avoid a lot of false signals we have to do find mechanical analisys process from fundamental analisys process but i'm not sure for nothing i'm just newbie who try to understand (1year on Forex and not profitable yet) but you look a protrader please correct my wrong way and share your vision for entry with this system for help all newbies here

Regards
That pdf file on that posting is one of the best I've ever read and it is excellent. My posting to you was not critical of the additions to the Elite system on your chart, but only of your choice of using the same colors for everything. It gave me a hallucinatory nightmare, but if it works for you, the more power to you!

To decide whether or not to enter (or exit) a trade I need confirming information to stand out quickly and be different than the other indicators or information on my charts. I say 'toe-may-toe' (tomato), you say 'toe-mah-to'.

Regarding your above post - I couldn't agree more! However - no amount of technical analysis or indicators will predict what the big dogs are going to do next. We, as individual traders are just little dogs snapping along behind at their heels. Trying to predict price action based on historical movement is very much like (in the 70's) going to hear Elvis perform after he has already left the building. False breakouts will always be there. Timing and good money management is the only way to overcome them.
  • #797
  • Sep 28, 2008 9:52am Sep 28, 2008 9:52am
Quoting Flamenco143
That pdf file on that posting is one of the best I've ever read and it is excellent. My posting to you was not critical of the additions to the Elite system on your chart, but only of your choice of using the same colors for everything. It gave me a hallucinatory nightmare, but if it works for you, the more power to you!

To decide whether or not to enter (or exit) a trade I need confirming information to stand out quickly and be different than the other indicators or information on my charts. I say 'toe-may-toe' (tomato), you say 'toe-mah-to'.

Regarding your above post - I couldn't agree more! However - no amount of technical analysis or indicators will predict what the big dogs are going to do next. We, as individual traders are just little dogs snapping along behind at their heels. Trying to predict price action based on historical movement is very much like (in the 70's) going to hear Elvis perform after he has already left the building. False breakouts will always be there. Timing and good money management is the only way to overcome them.
Hi Flamenco 143

I agree my colors charts are a litle "liquid" lol
i want just answers to you for prédictions never i think or can pretend make predictions only Bernanke or Trichet can do that it's just probability when i start analisys before on daily and 4h chart i try to find the trend and after i pass on 15mn chart and here when i find one "material" for buy = + one more + one more + other + and after i look the sell "material" one = - one more = -
then i wait and see the move price if signal appear (look at same time news upcoming) i don't think (+++++)(--) buy entry (-----)(++) sell entry
your are right for strong MM to safe you capital
anayway thank for your interest to my post i could explain my chart
Sorry for my bad English
Regards
  • #798
  • Sep 28, 2008 10:50am Sep 28, 2008 10:50am
Quoting cmfxmen
Hi Flamenco 143

anayway thank for your interest to my post i could explain my chart
Sorry for my bad English
Regards


Your English is far better than my French! lol!
  • #799
  • Sep 28, 2008 6:10pm Sep 28, 2008 6:10pm
Quoting Flamenco143
Knew it would happen eventually. Now it's time to take the 'Simplicity' word out of this thread and rename it "Confusion is the Ultimate Prelude to Failure!"

Are you really attempting to trade this system with a chart looking like this?

lol, this one was funny ...

i will give tomorrow another webinar for the guys on irc.ircforex.com ,
it will be recorded as video.

After it i will open a new thread as i promissed with the upgrade and refining of the system, with the links to watch the videos.

Like this you can read, see and understand much faster by watching the technics we use for the method of analysing, the mechanics of the system and the how to avoid failures ( identify the healthy from the sick and lazy market )

see you
  • #800
  • Sep 29, 2008 3:07am Sep 29, 2008 3:07am
Quoting Waterflame
lol, this one was funny ...

i will give tomorrow another webinar for the guys on irc.ircforex.com ,
it will be recorded as video.

After it i will open a new thread as i promissed with the upgrade and refining of the system, with the links to watch the videos.

Like this you can read, see and understand much faster by watching the technics we use for the method of analysing, the mechanics of the system and the how to avoid failures ( identify the healthy from the sick and lazy market )

see you
Hi Waterflame

i'm impatient to watch your new video that one will be just at time look my chart failled just gap tested to help me
Maybe because my colors chart ? lol

Thank Waterflame to keep your hard work to help us
Regards
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