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The Raz Method

  • #41
  • Oct 21, 2009 12:56am Oct 21, 2009 12:56am
Quoting raz
Very good question. So I have blown up a picture below to show what I mean of closure of candle. Keep in mind that you are taking the mid of prior candle to the mid of the next candle to indicate closure.

Now you bring up a good point, of course the current candle could easily reverse there for sending you to pass up a trade. However that is part of trading, the current candle that you are in(4hr mode) is going to be bouncing up and down, and if you are LONG MODE in which the GBP/USD was, you definetly want to make sure the 5 ema is above the...
Thank you Raz, very clear now..
  • #42
  • Oct 21, 2009 1:35am Oct 21, 2009 1:35am
Live Trade:

Short USD/CHF 1.0120

Very close to rsi break, but with in the closure range it was valid to me so I took it. Looking for 25 pips
Attached Image (click to enlarge)
Click to Enlarge Name: swissyshort.gif Size: 19 KB
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  • #43
  • Oct 21, 2009 1:54am Oct 21, 2009 1:54am
Sitting on +11 pips so far, definetly feel it will hit the 25 mark, but its 'slug' to me. I see another possible entry coming up on the cable long. It has a nice jump up, possibly a little strong on RSI, so I will consider and entry a few pips below close. Just gonna have to wait and see how the candle comes to a close.
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  • #44
  • Edited 2:22am Oct 21, 2009 2:02am | Edited 2:22am
Live Trade:

Long on cable at 1.6415
Attached Image (click to enlarge)
Click to Enlarge Name: cablelong.gif Size: 19 KB
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  • #45
  • Oct 21, 2009 2:19am Oct 21, 2009 2:19am
Well before I could even post the pics, both trades just closed out +25 pips each!!

For the week up +50 pips live trading. However I did miss 3 earlier signals.

Weekly Track:

3 winners missed(sleep/work/family visits)

2 winners (cable long and swissy short)

0 losers

Would be up 5 trades right now, but I will take these two winners right now.
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  • #46
  • Oct 21, 2009 2:30am Oct 21, 2009 2:30am
Quoting Psycic
wat a coincidence lol i missed out on all three signals including the gbp one 2day was like an hour late lol, 4 hour was in long mode and 30 min showed buy and we could have enterd!!! im loving it...... Good system just that you have to be glued 24 hrs if you want to make pips and earn money!!! that the tough part

Sorry I did not get to your post earlier. I had someone recently pm me and say that this system is ridicolous to have to watch the market 24 hr around the clock. Well there is one thing I cannot quite explain about this, however I do have a good idea how to read the charts and realize when I feel that I will probably not get a valid signal for few to couple hours. With this time I go for a hike(there is a mountain right behind my house) or go out to eat. I even went to go see a movie last week in between trades. I understand the feeling when missing a good trade, because believe me I have missed three this week. But reading the 4hr chart and the 30 min TF I can sort of tell that I have an hour or two where I can walk away and have a life outside of Forex trading. It is tough to see this, and maybe some of you will be able to garner this expertise better than I will.

So right now is an example where I just had two trades hit +25 pips a piece. And from the looks of it it will probably take at least an hour for anything to brew up. So I am going to take a break away from this, and be back and see what else comes up.
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  • #47
  • Oct 21, 2009 2:40am Oct 21, 2009 2:40am
Hi Raz,
Thank you for this system.I was about posting the results of those two trading opportunities that you just posted above.I saw them and pounced and the two hit their TPs.That is cool 50pips this morning.
Thanks again for the system.
  • #48
  • Oct 21, 2009 3:41am Oct 21, 2009 3:41am
Quoting Nedusilver
Hi Raz,
Thank you for this system.I was about posting the results of those two trading opportunities that you just posted above.I saw them and pounced and the two hit their TPs.That is cool 50pips this morning.
Thanks again for the system.

well good job, I am glad to see that you were willing to give it a try and make +pips off it. I also see that this was your first post. I feel a bit honored to have two people so far post for the first time on forexfactory on this thread. Good luck in your trading ways...
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  • #49
  • Oct 21, 2009 3:49am Oct 21, 2009 3:49am
All signals are showing, but the MACD Signal Line is very bearish. Histo showing recent positive momentum, but its been bouncing up and down on the 0 line, which indicates range.
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  • #50
  • Oct 21, 2009 3:56am Oct 21, 2009 3:56am
Going to pass this one up, signal line is too bearish, and on the 4hr TF the PA is moving bearish. So going to leave this one alone
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  • #51
  • Oct 21, 2009 4:00am Oct 21, 2009 4:00am
You been tracking this system for a while nw, so u knw ur thing. mite take me a while but ill get my free times too
i waching Usd/Jpy for a entry what do you think? there was a valid entry on Usd/Cad and still going but a little slow compared to the other trades...
  • #52
  • Oct 21, 2009 4:23am Oct 21, 2009 4:23am
Quoting Psycic
You been tracking this system for a while nw, so u knw ur thing. mite take me a while but ill get my free times too
i waching Usd/Jpy for a entry what do you think? there was a valid entry on Usd/Cad and still going but a little slow compared to the other trades...
I was looking at USD/JPY, however I passed it up because of signal line on MACD was bearish. It did pick from close to about +17 pips(taking spread into consideration). However if it hits... then hits, but I did pass it up.

On USD/CAD, I wouldn't know, because I have not tested this system on any other currencies then ones that I previously mentioned. So with that being in mind I hope you are trading a demo account, not a live account with other currency pairs other than eur/usd;gbp/usd;usd/chd;usd;jpy. Well over time I hope you will maybe enlighten me with these other currencies to see if this system does work for them. Careful pairs like the GBP/JPY have major whips, that it can knock your 25 pip stop loss really fast.

Good luck
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  • #53
  • Oct 21, 2009 4:25am Oct 21, 2009 4:25am
USD/JPY-
well it looks like it would have made at least 20 pips, but I am a low risk trader as you can tell.
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  • #54
  • Oct 21, 2009 4:37am Oct 21, 2009 4:37am
Usd/Cad - closed out on +25 pips

It does follow the system also .... iv been watching it the whole of this week...n this was the first trade....as for usd/jpy yes i took +20 and im out...
  • #55
  • Oct 21, 2009 4:59am Oct 21, 2009 4:59am
RAZ:

ic your point on Uj just not showing any macd upward slope at the 30m entry to be safe. Also, it was hugging zero line with small bars...not good.

Not sure if there was flat macd signal line at entry or not. Since price went up it always looks better in hindsight. I think you might have entered long if macd signal line was flat; however, you might not like the ADX less than 25 either so not too impressive.

Did I read this correct?

Thanks for a nice method to work with as I learn forex.

Steve
  • #56
  • Oct 21, 2009 4:59am Oct 21, 2009 4:59am
Not to say it wouldn't hit it the +25 pips. But from the ADX and MACD histogram it looks like it will range.
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  • #57
  • Oct 21, 2009 5:03am Oct 21, 2009 5:03am
Quoting Psycic
Usd/Cad - closed out on +25 pips

It does follow the system also .... iv been watching it the whole of this week...n this was the first trade....as for usd/jpy yes i took +20 and im out...

good job, I will open my trading up for the USD/CAD , but I will demo it instead of live. I have not tested the behavior of this pair, but I am glad you have given me the opportunity to see it work.

Thank you Psycic
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  • #58
  • Oct 21, 2009 5:09am Oct 21, 2009 5:09am
Quoting stevewide
RAZ:

ic your point on Uj just not showing any macd upward slope at the 30m entry to be safe. Also, it was hugging zero line with small bars...not good.

Not sure if there was flat macd signal line at entry or not. Since price went up it always looks better in hindsight. I think you might have entered long if macd signal line was flat; however, you might not like the ADX less than 25 either so not too impressive.

Did I read this correct?

Thanks for a nice method to work with as I learn forex.

Steve
Very good point Steve and you read exaclty what I saw. At that time the MACD signal line was pointing down, and the histogram bounced up and down on the zero in conjuction with the yellow line on ADX below 25, so with all that I took no trade.

However I believe the best way to read the signals is put your cross hair right over the mid of the candle and this will give you a current view of what you would have saw in the past. Anything to the left of the cross hair is what was currently showing right when it closed. I plotted a dummy crosshair on the chart to show you what I mean.
Attached Image (click to enlarge)
Click to Enlarge Name: crosshair.gif Size: 22 KB
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  • #59
  • Oct 21, 2009 6:03am Oct 21, 2009 6:03am
Live Trade:

Short 1.0108
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  • #60
  • Oct 21, 2009 6:20am Oct 21, 2009 6:20am
Definetly going to be a slug on the swissy.
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