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JohnFX's Price Magnets

  • #181
  • Jan 23, 2006 9:14am Jan 23, 2006 9:14am
HI

really it's interesting to share information with other members in this forum FOR INFORMATION PURPOSES ONLY and not a recommendation in any way
USAD/JPY ARE ON THEIR WAY TO 115.00 AND 115.00 WILL BE HIT IN AN HOUR AND HALF I GUESS.

thank you all .

forexer
I always knew that someday I would make it big
  • #182
  • Jan 23, 2006 9:29am Jan 23, 2006 9:29am
Quoting JohnFX
The method for locating the price magnets is mechanical. As far as which ones to put a trade on, the entry and the stop (still working on that), that's still discretionary at this point. Thanks for the question.

JohnFX
I like mechanical!

My (demo) entry strategy is currently to set an entry order about 15 pips before the magnet, limit 10 pips, S/L 20 pips...

Works so far...
  • #183
  • Jan 23, 2006 9:37am Jan 23, 2006 9:37am
Quoting CescoAiel
I like mechanical!

My (demo) entry strategy is currently to set an entry order about 15 pips before the magnet, limit 10 pips, S/L 20 pips...

Works so far...
Glad to hear it. Keep me updated on your results.

Thanks;

JohnFX
  • #184
  • Jan 23, 2006 10:09am Jan 23, 2006 10:09am
Quoting JohnFX
1/23/06 10:00 AM EST

USDJPY presently at 114.44

A new price magnet is at 114.70

JohnFX
114.70 target hit @ 11:10 AM EST 1/23/06

JohnFX
  • #185
  • Jan 23, 2006 10:16am Jan 23, 2006 10:16am
Quoting JohnFX
Glad to hear it. Keep me updated on your results.

Thanks;

JohnFX
I will...

10 pips a trade can be, depending on your MoneyManagement, a very nice increase...

With 1:100 leverage, 10 pips = 10% of your trade amount *before* leverage.
With avg. 2 trades a day that is 110% to the power of 2 (= 121%)
With avg 22 trading days a month that is 110% to the power 44 (= 6626%)

Behold the power of compounding!
(Yeah, I know, there'll be losses, etc., but just to show what theoretical profits you can make with only 10 pips a trade, it'll do quite nicely!)
  • #186
  • Jan 23, 2006 10:18am Jan 23, 2006 10:18am
Hooray - onwards and upwards to 115.15!

Thanks, John, my 'demo' acct has really appreciated your help...

Thanks, Jacquie
  • #187
  • Jan 23, 2006 10:26am Jan 23, 2006 10:26am
Hi

Usd Is Doing Well Sofar And Is Gonna Hit 115.00 @12 :16am Est Hopefully.


Thanx.
Forexer
I always knew that someday I would make it big
  • #188
  • Jan 23, 2006 10:28am Jan 23, 2006 10:28am
Quoting MrsMacTheKnife
Hooray - onwards and upwards to 115.15!

Thanks, John, my 'demo' acct has really appreciated your help...

Thanks, Jacquie
It may be a slow grind up. One thing I've noticed is once price gets to within about 20-15 pips of my magnet it usually pulls it right to it a very high percentage of the time. That's why Cesco's strategy may be a good one to consider.

JohnFX
  • #189
  • Jan 23, 2006 10:29am Jan 23, 2006 10:29am
Cool, - if it does, shoe shopping, here I come! And if it doesn't, I'll console myself by going shoe shopping anyway, lol....

Cheers, Jacquie
  • #190
  • Jan 23, 2006 10:31am Jan 23, 2006 10:31am
Thanks for the advice, John, caution (and good money management, plus good money management and a healthy dose of good money management, of course) seems to win in this game...

Cheers, Jacquie
  • #191
  • Jan 23, 2006 10:36am Jan 23, 2006 10:36am
Oops i meant 12:16 PM EAST.

JUST TO CORRECT MY MISTAKE.

FOREXER
I always knew that someday I would make it big
  • #192
  • Jan 23, 2006 10:42am Jan 23, 2006 10:42am
Quoting forexer
Oops i meant 12:16 PM EAST.

JUST TO CORRECT MY MISTAKE.

FOREXER
How can you pinpoint to the exact minute.....LOL

You know someone working at BOJ?



JohnFX
  • #193
  • Jan 23, 2006 10:45am Jan 23, 2006 10:45am
Well, that was interesting to watch. Went right to your target, and just stopped.

You seem to be on to something here. No clue how u do it...but, I wish you much continued success.

Oh, and I think that poster is just messin' with you.
  • #194
  • Jan 23, 2006 10:57am Jan 23, 2006 10:57am
Quoting SouthernFried
Well, that was interesting to watch. Went right to your target, and just stopped.

You seem to be on to something here. No clue how u do it...but, I wish you much continued success.

Oh, and I think that poster is just messin' with you.
Thanks, Southern. Yeah your prob. right.

JohnFX
  • #195
  • Jan 23, 2006 11:21am Jan 23, 2006 11:21am
hi ,all


Gosh! the USD slows down ok it might much longer to reach my target .

i really appreciate you all guys ,cause your working hand in hand to get your work done,but i want to ask you Johnfx :which broker you're dealing with? i really want to use a scalping strategy but most brokers aren't happy with scalpers and dont welcome this practice"scalping" . can you recommend me please?

thank you in advance.
I always knew that someday I would make it big
  • #196
  • Jan 23, 2006 11:31am Jan 23, 2006 11:31am
Quoting forexer
hi ,all


Gosh! the USD slows down ok it might much longer to reach my target .

i really appreciate you all guys ,cause your working hand in hand to get your work done,but i want to ask you Johnfx :which broker you're dealing with? i really want to use a scalping strategy but most brokers aren't happy with scalpers and dont welcome this practice"scalping" . can you recommend me please?

thank you in advance.
I was able to scalp 11 EURUSD pips this morning with InterbankFX.

John
  • #197
  • Jan 23, 2006 12:17pm Jan 23, 2006 12:17pm
HI,


thank you for the information ,yes i 've been demoing interbankfx for more than one month. one day they told me they dont encourage scalping cause scalpers take profits at off-market prices ,i wonder if they just encourage scalping infrequently, ,, seriously i consider to open an account with MBtrading technologies or propfx ,'cause they dont have a dealing desk and everything will be just fine for me to scalp freely besides they allow scalping without intervention.

i hope anybody in this forum had any information or experience with those two brokers at the weblink below , i would greatly appreciate your help .


www.propfx.com this one is a devision of FXCM

www.mbtrading.com and this , a future,stock.option,and forex broker

forexer.
I always knew that someday I would make it big
  • #198
  • Jan 23, 2006 12:29pm Jan 23, 2006 12:29pm
Quoting JohnFX
I was able to scalp 11 EURUSD pips this morning with InterbankFX.

John
Great work as usual John. What hours to you begin trading? Am I right in thinking you usually just trade the New York session?

Would you mind sharing how many trades you actually made in order to secure the 11 pips? thanks for any advice here.

Ol' Don
Don Life is expensive, but includes a free trip around the sun.
  • #199
  • Jan 23, 2006 1:26pm Jan 23, 2006 1:26pm
Quoting traderone
Great work as usual John. What hours to you begin trading? Am I right in thinking you usually just trade the New York session?

Would you mind sharing how many trades you actually made in order to secure the 11 pips? thanks for any advice here.

Ol' Don
Hi Don. I had 4 trades, 4 winners.

John
  • #200
  • Jan 23, 2006 7:30pm Jan 23, 2006 7:30pm
1/23/06 8:30 PM EST

EURUSD presently @ 1.2300

A magnet is at 1.2320

Also one at 1.2260 & 1.2240

Tough call which one gets hit first.

JohnFX
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