Silent Service Method

also just closed live account remaining position on gbp/usd short at +398 pips.

daily pin bar is enough for me.

right place, but still need to see a bar signal.....

Thank you Cris! Yes now i will just wait day or two... We'll see!

totally agree, never seen a profitable method without 56SMA in it.
This thread totally needs indis to filter entry points on 5m tf

btw, thank again chris, for the first time in my trading career (just few months, but what tough months) I'm feeling that i got the hang on the whole thing, it's not more "well, most indicators are green, let's hope that this long works out"
not yet profitable, but I think that I just have to continue practicing

the advice about silence is pure gold, you need just yourself while trading, it's all about you

Don't you think 5min is a bit slow?

How about 1min and then just ten or twenty indicators? Oh and maybe some fibs and of course the latest super trading robot: Astrology Dog 3000.

That should be a nice little improvement to the silent service method

This method is actually a sham. It's not how I make money. Below is an example of a chart that makes some real money. I figure that it speaks for itself. Any child can trade this chart IMHO.

which one of those lines is price?

You mean you need to see price?

This is that GBP/USD possible box trade setting up....

Short term trade maybe?

You mean you need to see price?

Just passing thro but don't get too smug about other methods. I know a very successful trader who makes a VERY good living out of trading MA cross -overs with NO regard for price. Plenty of losers but losses minimised with good money management and the winners can be huge.
Happy trading

But what about this sucker
Talk about upside potential!!!!!!!!!!!

Won't be tempted though till it breaks above the R/S at around 1.8830

True, and I can see that - it's about exits, which is earlier in this thread. Random entries work too - if you can manage it after getting into a trade....

Hey CW, just curious, I am under the assumption most folks, including the big boys (banks, etc.) use bars for charting vs. line charts. Is this an accurate assumption? thanks!

Actually I do not know about that at all. Bloomberg normally shows lines for what that's worth.

Ok cheelu - I finally got on the TSX.......

Thanks for the response! just curious...

AUDCAD - Day #40

Ranged between 0.9240 and 0.9340 for 8 days now. Yesterdays close and todays open are above the 0.9300 and the range was left to test the local high as signs to stay confident. Viewed from today the stop level could be measured pretty right. Left to mention that the broker gets a handful of pips on this trade but pays already 40 days interest (swap) to me.

My stop is now at BE+310 and one may think now that this are only 8 pips per day, well this is right but knowing my long term plans and the resulting trading account when I am at the age of 50 years would mean that this single trade is now at 9300 € after 40 days waiting and trailing the stop 4 times. Now if one thinks now that this is boring, well right, that's exactly what I want to reach in 15 years, that the boring trades will pay my life.



USDSGD - Day #10

Shorted this pair on a breakout for the reasons mentioned in the chart.



NZDJPY - Day #1

Placed a buy stop yesterday above a pinbar which was triggered during the night. Pinbar bounced from PPZ and trendline straight up to the next PPZ which is broken 2 bars later. Price is placed at 65.30 which is above an area of small resistance as shown in the H4 chart. The stop is placed well below the PPZ and trendline. No take profit placed as this is a pair ranging from ~ 50 to 90 and is currently in the uptrend phase. Swap is counting positive. Price is now testing the 50% retrace of the drop starting at Feb. 2008. If this fails I'm not the only one thinking of an uptrend.



Have a nice one.

Stefan.

Thanks Chris.

Bullish engulfing on 3393. nice long term uptrend and bottom of short term uptrend channel.I'm going to enter with minumum position and add more if I see stregnth.