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Weekly Trend Trading Method

  • #41
  • Edited Oct 25, 2009 1:48am Oct 24, 2009 8:11pm | Edited Oct 25, 2009 1:48am
Thank you lgtj!

I had gone over post #20 concerning SL/TP but was confused w/ the "$%" settings...another look @ them and its strait now! THANK YOU! The tool ended up being easier to use then I expected... Disregard the previous levels post. I have them matching how yours are drawn now.....
  • #42
  • Oct 24, 2009 9:49pm Oct 24, 2009 9:49pm
I haven't seen anything in your trade directions regarding the ATM Pure MA Color indicator. What purpose does it serve?
Greetings from Guanajuato, Mexico
  • #43
  • Oct 25, 2009 2:08am Oct 25, 2009 2:08am
Quote:
Quote
Originally Posted by yen44x -
I missed the purpose of the 50 SMA . . . Thanks!


Quote
Originally Posted by lgtj - 50sma isn't really needed, but I like to use it to see how price reacts to it. I also use it to give me an idea of the overall trend. It's up to you.

I believe this is the indi in question. The ATM pure MA is his 50 sma close.

Hope I have this right for you...
  • #44
  • Oct 25, 2009 7:06am Oct 25, 2009 7:06am
Quoting Mrezoot
Quote:





I believe this is the indi in question. The ATM pure MA is his 50 sma close.

Hope I have this right for you...
Hello Mrezoot. You're correct.
  • #45
  • Oct 25, 2009 7:09am Oct 25, 2009 7:09am
Quoting yen44x
I haven't seen anything in your trade directions regarding the ATM Pure MA Color indicator. What purpose does it serve?
It's a colored 50sma. When you look at the charts that I've posted, you'll see how price reacts to it and how the colors reacts to price.
  • #46
  • Oct 25, 2009 8:23am Oct 25, 2009 8:23am
Quoting Mrezoot
Quote: I believe this is the indi in question. The ATM pure MA is his 50 sma close. Hope I have this right for you...
Quoting lgtj
It's a colored 50sma. When you look at the charts that I've posted, you'll see how price reacts to it and how the colors reacts to price.
Thanks to both of you.
Greetings from Guanajuato, Mexico
  • #47
  • Oct 25, 2009 12:55pm Oct 25, 2009 12:55pm
Quoting yen44x
Thanks to both of you.
You're welcome.
  • #48
  • Oct 26, 2009 12:51am Oct 26, 2009 12:51am
Hi lg, very interesting thread so far ,and I love the simplicity of taking a trade(almost mechanical).... I am interested in which trades you would pick for the start of this week 26th Oct ? I have looked closely and have considered many,I wonder if you would pick similar. I am in australia so am up and about early,.What time do you commence trading??
  • #49
  • Oct 26, 2009 1:05am Oct 26, 2009 1:05am
Quoting lotv
Hi lg, very interesting thread so far ,and I love the simplicity of taking a trade(almost mechanical).... I am interested in which trades you would pick for the start of this week 26th Oct ? I have looked closely and have considered many,I wonder if you would pick similar. I am in australia so am up and about early,.What time do you commence trading??
Hello lotv and welcome to this thread. So far eurjpy weekly chart looks good. I've placed a buy stop at the high of the previous candle.
The candle with the red line is the conservative valid signal candle. I live in Florida, and my trading starts at 8:00 pm est. Currently it's 2:09am in the morning, and I have to go to work in a few hours.
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy weekly.gif Size: 35 KB
  • #50
  • Oct 26, 2009 1:13am Oct 26, 2009 1:13am
If there are any more questions or comments, please post them. I'll respond later on today. I have to go back to bed now.
  • #51
  • Oct 26, 2009 1:24am Oct 26, 2009 1:24am
When reviewing over the weekend I noticed that signal setup in the EURJPY and was all over that today! LOL!

I thought that I might be getting into it a little early so I opted for a BuyStop as well (I think mine is actually a little higher than yours 20-30 pips)

None the less, I was still happy to see that it was a valid signal on your end as well!

Looks like this system is gonna work well for my trading time frame! We'll see how it unfolds....thanks again lg!
  • #52
  • Oct 26, 2009 1:54am Oct 26, 2009 1:54am
I want to show you guys one more thing. Look at these daily charts. The red lines are on the most recent 2ma cross signal alert. Would these be considered as valid signals? If so, why? If not, why not? I want you all to know what to look for.
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp daily.gif Size: 32 KB

Attached Image (click to enlarge)
Click to Enlarge Name: gbpchf daily.gif Size: 32 KB
  • #53
  • Oct 26, 2009 2:03am Oct 26, 2009 2:03am
Quoting lgtj
Here's a live trade example that I'm currently in on usdjpy daily. The red arrows are my target options. The candle with the yellow line on it is not a valid signal because the rsi is not above the 50 line. The candle with the red line is the valid signal candle. I'm currently +100 pips on this trade.
Attachment
By the way, I closed my long position on usdjpy just below my first target option(red arrow) for 109 pips. Price was rejected at that resistance level. But it was a good trade anyway.
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy daily.gif Size: 31 KB
  • #54
  • Edited 2:33am Oct 26, 2009 2:31am | Edited 2:33am
with regard to which of the 2 charts is right or wrong (post 52) I think the north chart is not a trade (both slopes not same colour)
The southern chart I deem to be correct (all lined up).
Incidentally lg, I am 12 hours ahead of you,(do you want to know what the future holds??lol )
  • #55
  • Edited 2:38am Oct 26, 2009 2:33am | Edited 2:38am
Quoting lgtj
I want to show you guys one more thing. Look at these daily charts. The red lines are on the most recent 2ma cross signal alert. Would these be considered as valid signals? If so, why? If not, why not? I want you all to know what to look for.
Attachment
Attachment
If I understand the entry rules, neither of those would be valid due to the MACD not crossing in the correct direction. (Red and Green MACD bars still to distant from white line)

In addition, neither of the charts have confirmation from the second "Slope" indi.

I assume I will be corrected if I am wrong...only AFTER a few more take a stab... right Lg?? LOL! :nerd:
  • #56
  • Oct 26, 2009 2:37am Oct 26, 2009 2:37am
Quoting lgtj
I want to show you guys one more thing. Look at these daily charts. The red lines are on the most recent 2ma cross signal alert. Would these be considered as valid signals? If so, why? If not, why not? I want you all to know what to look for.
MACD has not crossed the signal line in either chart, and the slope indicators are not the same color. Therefore, they are not yet valid conservative signals.
Greetings from Guanajuato, Mexico
  • #57
  • Oct 26, 2009 4:54am Oct 26, 2009 4:54am
Gentlemen, Western Australia makes the finest red & white wines,,.upon rising from my pit,I take a noggin ( now theres an olde word) of the finest red cabernet/sauvernet ....a noggin consists of a pipe to the barrel..... hence my poor judgement on some occasions....so I MAY have been wrong....our Mexican trader must be right....I. am lacking in Pride and predjudice and once again settle for the bottom of the class.... continue to teach me.....Bill.
  • #58
  • Oct 26, 2009 5:00am Oct 26, 2009 5:00am
Quoting lotv
Gentlemen, Western Australia makes the finest red & white wines,,.upon rising from my pit,I take a noggin ( now theres an olde word) of the finest red cabernet/sauvernet ....a noggin consists of a pipe to the barrel..... hence my poor judgement on some occasions....so I MAY have been wrong....our Mexican trader must be right....I. am lacking in Pride and predjudice and once again settle for the bottom of the class.... continue to teach me.....Bill.
Nothing wrong with WA wines mate, or Barossa or the Hunter Valley for that matter. Keep it mate, there is nothing wrong in being wrong as long as you learn from it. http://cdn.forexfactory.com/images/icons/icon10.gif

Ezzy
What you do is a reflection of you....what I do is a reflection of me.
  • #59
  • Oct 26, 2009 5:28am Oct 26, 2009 5:28am
Now you are right Ezzy,...the problem is avoidance of this nectre of the gods.....trying to concentrate on FX ,drums up all types of hassles.....Oh for a clear mind and Mexican brain power ( no reflecton on you yen44x) I love intelligence....sadly it avoids me!!!!...... RED NED never leaves me alone.....wonderful stufff. LOTV
  • #60
  • Oct 26, 2009 7:05am Oct 26, 2009 7:05am
Quoting Mrezoot
When reviewing over the weekend I noticed that signal setup in the EURJPY and was all over that today! LOL!

I thought that I might be getting into it a little early so I opted for a BuyStop as well (I think mine is actually a little higher than yours 20-30 pips)

None the less, I was still happy to see that it was a valid signal on your end as well!

Looks like this system is gonna work well for my trading time frame! We'll see how it unfolds....thanks again lg!
You're welcome.
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