This is what i meant buying dip with little risk
Attached Image (click to enlarge)
first of oll sorry for my english
maybe i need one more explanation
i attach a gif so please can you indicate exactly where to enter?
I'm not sure to have understand the rules..... If you can try to explain very basic for dummies....sorry my english is very poor and i'd lke to try this system
another questio is why in the lower left corner appear alway "sell only" in any case, like in this case that is rising?
Thank you very much in advance
that is just a personal note indicator
where you can put your own note
something like .... I will risk 10 pips or make 20pips
or i will buy when price reach ????? 1111..111
i forgot to delete my note
CUZ, I WATCHED 12 PAIRS AT SAME TIME
the rules are so simple you can see it on the chart
tips: Anytime when you 'r in profit and the market came back
took you out ,,, then you have no reason to keep doing what
you doing .
sometimes, you lose couple little trades but you keep your bias remain then
the big one will pay you off plus profit,
Cheers Bro,
- #46
- Aug 3, 2010 4:51pm Aug 3, 2010 4:51pm
I have found this is the one of the best forex systems out there. To add to this "sell/buy when overbought/oversold on RSI", consider this...
As you notice from backtesting, there are instances where entering positions at 70/30 won't always produce considerable profits and sometimes end up in a small loss or BE. How do you combat this?
-As the RSI runs deeper away to 100/0, and the price moves against you, add to your positions in increments to increase/decrease the average price of your positions. This is if you have a pair which is closely correlated to the RSI -some are not as great as others. Proper money management will help you with this as well so you're not over-leveraged.
-Use higher time frames, Daily charts are almost NEVER a gamble.
I know demos are not as valid as some people credit them, but I've used this system on demos (~5) and all produced profits with about an average return of 100% every 4 weeks -trading 4hr/Daily.
This is why right now I'm short GBP/USD at an average price of 1.56745, but because of the volatility of the pair, I'm only adding every 200 pips it runs against me. Certain other pairs like USD/CAD (my favourite) I will add every 100-150 or so pips. We will see correction within a few days I believe.
I still think USD/CAD has a bit more to run down before I will buy the Daily chart. I have too much faith in CAD to buy at this level.
As you notice from backtesting, there are instances where entering positions at 70/30 won't always produce considerable profits and sometimes end up in a small loss or BE. How do you combat this?
-As the RSI runs deeper away to 100/0, and the price moves against you, add to your positions in increments to increase/decrease the average price of your positions. This is if you have a pair which is closely correlated to the RSI -some are not as great as others. Proper money management will help you with this as well so you're not over-leveraged.
-Use higher time frames, Daily charts are almost NEVER a gamble.
I know demos are not as valid as some people credit them, but I've used this system on demos (~5) and all produced profits with about an average return of 100% every 4 weeks -trading 4hr/Daily.
This is why right now I'm short GBP/USD at an average price of 1.56745, but because of the volatility of the pair, I'm only adding every 200 pips it runs against me. Certain other pairs like USD/CAD (my favourite
) I will add every 100-150 or so pips. We will see correction within a few days I believe.I still think USD/CAD has a bit more to run down before I will buy the Daily chart. I have too much faith in CAD to buy at this level.
- #53
- Edited 10:58am Aug 4, 2010 6:42am | Edited 10:58am
Here is another screen short entry for aud/usdcheers,
kevin
PS. SO YOU THINK, FOREX IS SO EASY TO MAKE MONEY HUH? WELL YOU NEED TO THINK IT AGAIN
EVERYONE TRY TO GET IN THE MARKET AND HOPE TO GET A PIECE OF PIE , THEN WHO WILL PAY FOR THAT PIE?
IT'S SO EASIER SAID THAN DONE
ALL YOU NEED IS 1 TRADE A DAY IS ENOUGH
FOREX MARKET IS SO VOLATILE , THAT'S WHY WE HAVE MIX & MATCH SIGNAL ON DIFFERENT TF
YOUR JOB IS TO WAIT FOR THAT MATCH SIGNAL TO GET IN AND MAKE MONEY
BOTTOM LINE , TRADING IS THE TOUGHEST JOB IN THE WORLD, IN MY OPINION
