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Eagle Method MA Crossover System

  • #61
  • Mar 28, 2007 12:06am Mar 28, 2007 12:06am
Quoting rivertraderfx2
Short
tbwss1234 says....
"I am currently in a short now"

I grabbed some short pips too, but the RVI is not below the zero line???
The RVI will give you a confirmation of momentum.. So when it is below Zero It means we are most probably in for a solid move.

I usually take all of the crosses then watch the RVI and make sure it heads past the Zero.. If it doesn't then i may implement a TP or Even close the position.

Remember your success will come, when you learn to surf the market like a wave.. and work out the patterns that make that wave worth riding.

I suggest entering all the crossovers then using discretionary factors to determine when to exit.
  • #62
  • Mar 28, 2007 12:14am Mar 28, 2007 12:14am
tbwss1234,

Like I said before, your system supplement my 4HR system. My system gave me a good signal around 2:30 PM (Pacific time) and looking at your 1HR system it showed me a crossover but I waited a little time. Placing stop order entry Sell GBP/JPY at 231.28. Got filled and clossed at 230.22 (after price touched and bounced the 55 SMA at 4HR chart). I might place another sell order depending on how the price move around the 55 SMA at 4HR chart.

Thanks again, with your system I can place better entry.

Regards,
Rick
I'm a disciplined trader and that's the only way I trade.
  • #63
  • Mar 28, 2007 12:41am Mar 28, 2007 12:41am
Quoting drick008
tbwss1234,

Like I said before, your system supplement my 4HR system. My system gave me a good signal around 2:30 PM (Pacific time) and looking at your 1HR system it showed me a crossover but I waited a little time. Placing stop order entry Sell GBP/JPY at 231.28. Got filled and clossed at 230.22 (after price touched and bounced the 55 SMA at 4HR chart). I might place another sell order depending on how the price move around the 55 SMA at 4HR chart.

Thanks again, with your system I can place better entry.

Regards,
Rick
My pleasure.. I'm glad to help out.
  • #64
  • Mar 28, 2007 2:54am Mar 28, 2007 2:54am
hello !
what a great system tbwss1234
its really a very nice u know what just in GJ i got like 300+ pips just in yesterday i am very happy

thanks for this great system and i use 5m charts its best also for scalping

thanks
netwise
  • #65
  • Mar 28, 2007 3:10am Mar 28, 2007 3:10am
i just took a short in GU
1h confirm the short
i short from 9642 lets see
my target will be 9606 if cross then 9573
lets see what happen

thanks
netwise
  • #66
  • Mar 28, 2007 3:17am Mar 28, 2007 3:17am
netwise,

I saw that too. I'll be watching this for now, good luck.

Rick
I'm a disciplined trader and that's the only way I trade.
  • #67
  • Mar 28, 2007 3:20am Mar 28, 2007 3:20am
tbwss1234,

This is just my observation. I noticed a high probability trades when Moving averages crosses and the RVI crosses zero line.

Check it out,
Rick
I'm a disciplined trader and that's the only way I trade.
  • #68
  • Mar 28, 2007 3:23am Mar 28, 2007 3:23am
yes u r rite rick
lets see +4 now in GU
lets see how many pips i got in this

thanks
netwise
  • #69
  • Mar 28, 2007 3:36am Mar 28, 2007 3:36am
woohooo
9606 reached
waiting for 9573 :d and so on lets see how many more i got

thanks
netwise
  • #70
  • Mar 28, 2007 3:42am Mar 28, 2007 3:42am
I'm up 160 pips on the GBP./JPY hope you guys entered. Let's get together to create a a good exit.. I will be looking for the Price to cross back over the 9 SMA by 30 pips
  • #71
  • Mar 28, 2007 3:43am Mar 28, 2007 3:43am
Hopefully the carry trading has ended and we will see the GBP/JPY retrace.. Remember it hasn't been this high since 1997
  • #72
  • Mar 28, 2007 3:47am Mar 28, 2007 3:47am
I'm still in this one.. Using my mini account until I can see consistant profit
Attached Image
  • #73
  • Mar 28, 2007 4:05am Mar 28, 2007 4:05am
well short GJ already give me more then 300 pips and i am out from GJ now
got very nice pips
and also one more thing i am waiting for the new oppurtunity in GJ
so enter the short or long

thanks
netwise
  • #74
  • Mar 28, 2007 4:29am Mar 28, 2007 4:29am
Quoting netwise
well short GJ already give me more then 300 pips and i am out from GJ now
got very nice pips
and also one more thing i am waiting for the new oppurtunity in GJ
so enter the short or long

thanks
netwise
That's great.. Go for it.. I haven't really scalped with this method.. But i think you could. I am going to hold the position for a little longer
  • #75
  • Mar 28, 2007 4:36am Mar 28, 2007 4:36am
Quoting tbwss1234
That's great.. Go for it.. I haven't really scalped with this method.. But i think you could. I am going to hold the position for a little longer


well i also do the longer trades 1h chart but its nice also for scalping thats what i said and well the RVI is the best indicator u told us its very nice for scalping really
thanks once again man


netwise
  • #76
  • Mar 28, 2007 4:39am Mar 28, 2007 4:39am
The problem here is that you need a solid exit method. If you dont have a solid exit method backtesting this is useless.

Exiting when the ma crosses back over will totaly kill you in a range bound market. Take a look at eg june last year.

So the problem will be, when to take a few pips, and when to let it ride. The fact that it works awsomely well now, does not mean it wont kill your account as soon as you have a ranging market.
  • #77
  • Mar 28, 2007 4:58am Mar 28, 2007 4:58am
Quoting Nybegynner
The problem here is that you need a solid exit method. If you dont have a solid exit method backtesting this is useless.

Exiting when the ma crosses back over will totaly kill you in a range bound market. Take a look at eg june last year.

So the problem will be, when to take a few pips, and when to let it ride. The fact that it works awsomely well now, does not mean it wont kill your account as soon as you have a ranging market.
The RVI's and MA's protect your entry when the market is rangebound.. And that's why this thread has been set up to define a good exit.. You can still profit from whipsaws if you have a solid exit strategy..

Maybe a trailing stop may work.. Guys we need to consolidate our brains and work on this..

And regarding backtesting.. I don't think you can ever apply it to any real system.. Because it's pretty much a known fact by pro traders that a purely mechanical system won't work for exits ever.. It takes the trader as the individual to watch the market move and determine his moves based on price activity

We have a system here that will give you awesome entries.. Again, let's get together and work out the best exit, even if it means expressing some key points on how to observe the price...
  • #78
  • Mar 28, 2007 5:02am Mar 28, 2007 5:02am
Quoting Nybegynner
The problem here is that you need a solid exit method. If you dont have a solid exit method backtesting this is useless.

Exiting when the ma crosses back over will totaly kill you in a range bound market. Take a look at eg june last year.

So the problem will be, when to take a few pips, and when to let it ride. The fact that it works awsomely well now, does not mean it wont kill your account as soon as you have a ranging market.
Thanks for your input...

Also you can exit by
1. The price crossing back over the 9 sma by 30 pips..
2. The 9sma crossing back over on a smaller time frame like the 5-15min chart.
3. A TP of 100pips
  • #79
  • Mar 28, 2007 5:16am Mar 28, 2007 5:16am
well for the exit i am waiting for the TVI to cross the zero line
i have my own method for exit which i dont know how to explain but overall this metho dis very nice for me for long term or for scalping if u r not greedy then u need to know how to make pips
i think 20 30 pips with 10 us$ each pip is too enough for one day trading for traders like me

so overall its good system

thanks
netwise
  • #80
  • Mar 28, 2007 5:26am Mar 28, 2007 5:26am
How is the RVI supose to protect me in ranging market? Not trying to just post critics here, just curious. If most of the whiping can be filtered, then this is a killer way of trading.
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