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Please suggest a simple & effective Method/System of "Trading System" Forum to newbie

  • #161
  • Apr 24, 2008 10:21am Apr 24, 2008 10:21am
I recommend the jump start strategy for a newbie to get a feel for the market. It is free to use as well. This is a cash flow strategy for getting in and out of the market frequently to get beginners the practice of entering and exiting the market. Google forex jumpstart strategy Good luck
  • #162
  • Apr 30, 2008 8:48am Apr 30, 2008 8:48am
I am pretty new to trading so I am not sure. But I have heard of the JPY carry trades that litterally kills the "Japanese housewifes" when the JPY gain strength in the beginning of the year. Is this the same or similar strategy????
  • #163
  • Sep 23, 2008 9:00am Sep 23, 2008 9:00am
Here is an excellent system I read about recently, it is very much oriented towards beginners:

1)Open a 1H chart (I think GBP/USD is recommended)
2)Add ADX with a setting of 11 and a guide line of 40
3)Add MACD (but you only need to use MACD Histogram)

-Enter when the price breaks above[below] the recent high[low] and out of a cup-like pattern from about the previous 10-20 candles, ADX is greater than or equal to 40 and the MACD Histogram is going in the direction of the trade (increasing for going long or decreasing for going short)

-Exit when the ADX reverses direction AND MACD Histogram reverses direction

Can't get much simpler than that!
  • #164
  • Nov 30, 2008 8:25pm Nov 30, 2008 8:25pm
Way back on post # 7 BHale suggested a little no brainer trade. I took a look at it. Looks like the trend changed about July 2007, but the same idea could have been used on the short side if you had a little indicator help. This is just the sum of all 4 pairs, with the yen/100 to normalize it and a couple moving averages applied.
ps: Sorry for the poor quality of the pics - someone tell me how to get a decent pic uploaded that is within size.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: BHale-07.JPG Size: 80 KB
Click to Enlarge Name: BHale-08.JPG Size: 65 KB
Click to Enlarge Name: BHale-08-H1.JPG Size: 88 KB
  • #165
  • Nov 30, 2008 9:37pm Nov 30, 2008 9:37pm
Quoting Faith
Dear Friends in FF,

I have read most threads of 5 stars trading strategys and methods form "Trading System" Forums of FF, but certain systems have more than 3 indicators and some of them are new to me, eg. vages tunnel and sidus. (I traded stocks before and know only traditional TA indicators, like MACD, Stoch., MAs, William %R, RSI, as well as the concept of triple-timeframes)

[color=black]Can any friends suggest a relatively simple but effective method/system from "Trading System" Fourm to a newbie, like me. It is better...
I 've been there
perhaps you should try my thread , this could help u out of dark house

http://www.forexfactory.com/showthre...=132105&page=3
  • #166
  • Apr 27, 2009 2:58pm Apr 27, 2009 2:58pm
Quoting Faith
Dear Friends in FF,

I have read most threads of 5 stars trading strategys and methods form "Trading System" Forums of FF, but certain systems have more than 3 indicators and some of them are new to me, eg. vages tunnel and sidus. (I traded stocks before and know only traditional TA indicators, like MACD, Stoch., MAs, William %R, RSI, as well as the concept of triple-timeframes)

[color=black]Can any friends suggest a relatively simple but effective method/system from "Trading System" Fourm to a newbie, like me. It is better...
Maybe you can take a look at this one.

http://www.forexfactory.com/showthread.php?t=164999
Good luck.http://www.forexfactory.com/images/icons/icon14.gif
  • #167
  • Sep 28, 2009 2:20pm Sep 28, 2009 2:20pm
The lack of mention of any of the previous discussions on bhale's dollar hedge and Beachbum's dollar hedge with SL probably means that they are considered no longer profitable but I just wanted to see if anyone went forward with it....

An earlier post showed the dangers of bhales method, showing huge drawdown, but wouldn't Beachbum's SL strategy combat that to a certain degree? I suppose the only thing I can do is some serious backtesting, especially since we have much more data to go on since the discussion died out. I just don't want to devote the time if it is in fact a lost cause.

Also, does anyone know how many posts I need to write before I can send PM's lol... this is my second post ever ^^;;;
  • #168
  • Nov 7, 2011 3:06am Nov 7, 2011 3:06am
I think Expert SYstems dont really work- has to be manual trading
  • #169
  • Jan 3, 2012 12:19pm Jan 3, 2012 12:19pm
Quoting nysnowboard
The lack of mention of any of the previous discussions on bhale's dollar hedge and Beachbum's dollar hedge with SL probably means that they are considered no longer profitable but I just wanted to see if anyone went forward with it....

An earlier post showed the dangers of bhales method, showing huge drawdown, but wouldn't Beachbum's SL strategy combat that to a certain degree? I suppose the only thing I can do is some serious backtesting, especially since we have much more data to go on since the discussion died out. I just don't want to...
This is an old thread but for anyone reading and interested in the usd hedge from the first page try using the equity guard ea (search for it) to limit your total loss and to take profit at a set equity gain. This could easily make the difference between a long term profit or loss. Take some time to work out the max expected gain from each hedge and also max expected drawdown and work out acceptable profit/loss targets...
  • #170
  • Mar 2, 2012 6:41am Mar 2, 2012 6:41am
Hi!, price action systems seems to be the good ones in forex trading, because they show you how to understand the market. Less indicators is better too, systems only based on indicators usually don`t last.
Here are the methods I am learning to use with good results:
Trendline 100% price action:
http://www.forexfactory.com/showthread.php?t=163012
BORC 100% price action
http://www.forexfactory.com/showthread.php?t=277735
BOLOSO Price action with some indicators for newbies, is based on market's 1,2,3, steps
http://www.forexfactory.com/showthread.php?t=308231
I aply this methods together and I use multi-timeframe charts to enter, so my work space is divided in 3 per pair: D1, H1, M15. This way I can enter with tiny Sl.
Sorry for my bad english, I hope this can help.
I know where the market is going to move next: to the righ! XD
  • #171
  • Jul 25, 2014 5:27am Jul 25, 2014 5:27am
Hi Faith ! If I can advise you : trading is a real business so treat it for what it is. You have to educate yourself before trading live ang tranding for a living. The first step is to know yourself as well as possible. Are you patient or not ? Are you greedy ? Do you have selfcontrol ? Why do you have to perfectly know you ? Because trading is about 80% psychology !!!

Studying systems with or without any indicators, focusing on price action will not be the key to get your goal !!! Psychology is the key. So, after a clear introspection, you will be able to know what system can suit yourself. After that, you will be able to trade any system.....even your own one ! To get an idea, I developped a trending system based on simple indicators : Moving averages, price action, and 2 indicators to help you confirm the trend and enter the market at the right moment. You can check it looking for A "new" simple system based on MA.

It is up to you to begin trading for a living. Just one thing more : it is not as simple as it can be said, but not because of the system, only because the psychology ! So you will have to make serious efforts to be focused and change your mind. After that, you will trade with confidence, increasing the size of lots each month for example and then be independant ! It is a process to follow...


Quoting Faith
Dear Friends in FF, I have read most threads of 5 stars trading strategys and methods form "Trading System" Forums of FF, but certain systems have more than 3 indicators and some of them are new to me, eg. vages tunnel and sidus. (I traded stocks before and know only traditional TA indicators, like MACD, Stoch., MAs, William %R, RSI, as well as the concept of triple-timeframes) Can any friends suggest a relatively simple but effective method/system from "Trading System" Fourm to a newbie, like me. It is better for this method/system to have less...
  • #172
  • Jun 11, 2017 1:23pm Jun 11, 2017 1:23pm
Hi,

You are welcome to visit my thread , no indicators needed , reversal catcher / continuation pattern depending on your preferred style
https://www.forexfactory.com/showthread.php?t=666624
What goes up will come down...
  • #173
  • Jun 11, 2017 1:50pm Jun 11, 2017 1:50pm
hello mate this is an old thread but so many people use it no indicator just take look hope this will help you
https://www.forexfactory.com/showthread.php?t=288142
  • #174
  • Jun 11, 2017 4:34pm Jun 11, 2017 4:34pm
this post is too much old , 2012 on April. But hope it will works.
  • #175
  • Jan 3, 2018 11:51am Jan 3, 2018 11:51am
Quoting 17k
hello mate this is an old thread but so many people use it no indicator just take look hope this will help you https://www.forexfactory.com/showthread.php?t=288142
Thank you very much for sharing this link here! I’ll also try with this indicator and if I get good result then surely I’ll update you.
  • #177
  • Dec 30, 2018 2:00pm Dec 30, 2018 2:00pm
Quoting Faith
Dear Friends in FF, I have read most threads of 5 stars trading strategys and methods form "Trading System" Forums of FF, but certain systems have more than 3 indicators and some of them are new to me, eg. vages tunnel and sidus. (I traded stocks before and know only traditional TA indicators, like MACD, Stoch., MAs, William %R, RSI, as well as the concept of triple-timeframes) Can any friends suggest a relatively simple but effective method/system from "Trading System" Fourm to a newbie, like me. It is better for this method/system to have less...
May I recommend optimised mean reversion? It's effective and simple. It's a smart way to catch the trend.
  • #178
  • Aug 11, 2023 2:23am Aug 11, 2023 2:23am
Hi everyone, im a newbie in trading, im searching for an ea that can close trades whenever rsi reaches limit 70/30. I open trades manually and the ea should be able to close those trades automatically when rsi reaches 70/30...can someone suggest an ea pls?..thank you.
  • #179
  • Aug 11, 2023 5:09am Aug 11, 2023 5:09am
Quoting karps
Hi everyone, im a newbie in trading, im searching for an ea that can close trades whenever rsi reaches limit 70/30. I open trades manually and the ea should be able to close those trades automatically when rsi reaches 70/30...can someone suggest an ea pls?..thank you.

Ask in this part of the forum

https://www.forexfactory.com/forum/69-platform-tech
  • #180
  • Aug 11, 2023 8:05am Aug 11, 2023 8:05am
Hi,

this is called the tokyo box

1. You mark the high and low of 8 am to 5pm +8gmt.
2. That is the range
3. If price breaches the high, price is most likely to go in that direction for an estimate of atleast 1 to 1 of the range.
4. You can wait for price to return to touch the high or low before you make your order or put both orders in and delete what does not triger.
5. Set rr for atleast 1 to 1.

Thats it.

This is my go to breakout called tokyo box.

Example

https://www.tradingview.com/x/ZjiznIgC

Putting support and resistance helps.

Put a line on the top 3 lines hitting 3 lines.
Trading is gambling. So gamble responsibly.
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