GBP/USD Trading with Linhchiter' System | Forex Factory

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GBP/USD Trading with Linhchiter' System

  • #1
  • First Post: Edited Apr 24, 2015 11:14am Dec 16, 2010 1:02am | Edited Apr 24, 2015 11:14am
Hello Anybody, Forex Traders,

About me, I've taken part in forex market since March 2001 and Traded for a living with GBP/USD. I just have an application Technical Analysis to predict moving prices, refuse news watching although thats big news.... because my favorite is consistent nature. I dun be interesting in combination thinking as well as complexity. But no, I really appreciate "number two: 2" and i always build the system via uniformity between market chart and Indicators, do not use "confirm" concept, thus its no a combination.

Today I would like to share my System (Linhchiter's) in GBP/USD trading (Mainstream). Howerver, Any Forex Traders are able to apply to EUR/USD, AUD/USD, GBP/JPY, USD/CHF...etc.

This is an image of "Linhchiter's System"

http://img818.imageshack.us/img818/2...itersystem.png

Linhchiter's is include: SMA-20 , MACD(8,13,79) (), b-clock to view candlestick time, and Cammarilla. Using in timeframe H1.

USING:

1. I have a manipulation LINE TOOL to make an analysis, using Line tool for both price chart and indicators.

2. I usually make a position at about 7:00 - 8:00 GMT,

3. Making an Entry ...when MACD show signals, If close-price over trendline, or breakout, or reversal at cammarilla levels or crossing SMA-20 etc (Entry when price re-turn ) simultaneously.

4. Exit, using SMA-20 Levels as - 500/- 1000 , +500/+1000,

Okie... I am going to display anything in next replying
  • #2
  • Dec 16, 2010 2:07am Dec 16, 2010 2:07am
looks good to me
  • #3
  • Dec 16, 2010 3:03am Dec 16, 2010 3:03am
Hey linhchiter

Looks interesting your system. It would be great if you could post some charts where you mark your entry and maybe an exit too. Looking forward to see what your plan is. I like rigid systems as my money management can handle the inevitable loosing strike with such a system.


Thanks
  • #4
  • Dec 16, 2010 5:09am Dec 16, 2010 5:09am
Quoting nielsdb
Hey linhchiter

Looks interesting your system. It would be great if you could post some charts where you mark your entry and maybe an exit too. Looking forward to see what your plan is. I like rigid systems as my money management can handle the inevitable loosing strike with such a system.


Thanks
Of course, i am going to share entry/exit point. Maybe i will choose live-prediction form to make a dissection.


Example in the image, i will BUY STOP at PIVOT and take Profit at position on BREAKOUT HIGH level, a little. IF market hit my pending entry, i believe that i will have a profit. If market wanna down, it will not hit my pending order, only moving under this pending order.

I have used this system for many years, effective 9/10.
  • #5
  • Dec 16, 2010 5:41am Dec 16, 2010 5:41am
My Plan is BUY because MACD show an UP signal, but no strongly...
When prices go to Pivot I will Buy here, but i wait for prices have to re-turn to entry. This is a live-prediction therefore i am still no know the result.... now.

http://img191.imageshack.us/img191/9...rediction1.png
  • #6
  • Dec 16, 2010 5:53am Dec 16, 2010 5:53am
Quoting linhchiter
My Plan is BUY because MACD show an UP signal, but no strongly...
When prices go to Pivot I will Buy here, but i wait for prices have to re-turn to entry. This is a live-prediction therefore i am still no know the result.... now.

http://img191.imageshack.us/img191/9...rediction1.png
Many thanks for sharing your method, very encouraging to hear that you trade GU with it for a living and it has been successful for you since 2001!...a few questions.

What % risk per trade do you personally use and how do you derive the initial stoploss?

Also, would you be kind enough to post your indicators and template (i'm assuming you're using metatrader), so we can follow the signals accurately.

  • #7
  • Dec 16, 2010 6:52am Dec 16, 2010 6:52am
There are 2 basic ways to Entry:

1. Entry Soon when market have just begun turning reversal. If you choose this way you will avoid psychology problem with market retracement (without worry) because your order is still profit, you ordered so soon. But this way will have higher risk, because market can go on trend to ur entry failure.

2. Entry when market gave some signals, your order will have lower risk. However, you will have spychology problem with this second way if market retrace.

http://img191.imageshack.us/img191/7402/2way.png


I choose the third way.

http://img52.imageshack.us/img52/5915/thirdway.png
  • #8
  • Dec 16, 2010 7:00am Dec 16, 2010 7:00am
[quote=linhchiter;4247673]My Plan is BUY because MACD show an UP signal, but no strongly...
When prices go to Pivot I will Buy here, but i wait for prices have to re-turn to entry. This is a live-prediction therefore i am still no know the result.... now.

http://img191.imageshack.us/img191/9...rediction1.png

I will be interested to see if it hits 5705 but if not you have your SL in place.. I will be following your thread as it developes!
  • #9
  • Dec 16, 2010 10:32am Dec 16, 2010 10:32am
Certainly not looking good at the moment.
  • #10
  • Dec 16, 2010 5:34pm Dec 16, 2010 5:34pm
Quoting keithbridges
Certainly not looking good at the moment.
looking better now
WANT WHAT THE MARKET WANTS...
  • #11
  • Edited 6:26pm Dec 16, 2010 5:57pm | Edited 6:26pm
5635 is very strong resistance. Apart from using 500 and 1000 levels for exits we could use momentum or RSI.. In a strong move we would be giving away a lot of profit? Linhchiter could you please explain any other exit method that you are using?

Thanks for sharing your interesting method and helping other traders to become successful!!
  • #12
  • Edited 7:17pm Dec 16, 2010 6:59pm | Edited 7:17pm
Maybe I will live-predict first 20 times, then i will explain about Entry/exit points ok?

I am living in Vietnam, and I have ever good live-predicted at London session at Vietnamese forums. Now I want to approve here first, then I am going to share more.

Okie ?


-------------------------------
  • #13
  • Dec 16, 2010 8:20pm Dec 16, 2010 8:20pm
Maybe I will live-predict first 20 times, then i will explain about Entry/exit points ok?

I am living in Vietnam, and I have ever good live-predicted at London session at Vietnamese forums. Now I want to approve here first, then I am going to share more.

Okie ?


Thanks for your reply... looking forward to your live trading at start of London trading.
  • #14
  • Dec 17, 2010 1:33am Dec 17, 2010 1:33am
I have this system on 30 pips rangebars-- all bars are 30 pips equal

i will go long if this bars close on the up side 15643 will enter long 15644
Attached Image (click to enlarge)
Click to Enlarge Name: 9.gif Size: 13 KB
PROFITABLE TRADERS ARE NOT LUCKY BUT ARE WELL PREPARED
  • #15
  • Dec 17, 2010 1:52am Dec 17, 2010 1:52am
Quoting zamanib
I have this system on 30 pips rangebars-- all bars are 30 pips equal

i will go long if this bars close on the up side 15643 will enter long 15644

Looks like 30 pip renko bars... why would you go long or short while the bars are stradling the 20 sma. I would stand by until things become clearer.
  • #16
  • Dec 17, 2010 4:18am Dec 17, 2010 4:18am
how long does your prediction last?
if it breaks below 1.5600...

Quoting linhchiter
Maybe I will live-predict first 20 times, then i will explain about Entry/exit points ok?

I am living in Vietnam, and I have ever good live-predicted at London session at Vietnamese forums. Now I want to approve here first, then I am going to share more.

Okie ?


-------------------------------
WANT WHAT THE MARKET WANTS...
  • #17
  • Dec 17, 2010 4:36am Dec 17, 2010 4:36am
I appreciate your work and your sharing. I think it would be great with the predictions and screen shots, I will definitely be following it and learn from it.
  • #18
  • Dec 17, 2010 6:14am Dec 17, 2010 6:14am
well... according to linhchiter this is where we make our move, I have a sell @ 5562 TP 5500
  • #19
  • Dec 17, 2010 6:20am Dec 17, 2010 6:20am
I am also using RSI and Momentum with the MACD to provide an additional filter....
  • #20
  • Dec 17, 2010 6:35am Dec 17, 2010 6:35am
Hey,
Nice initiative with this thread and I will be trying to follow it close. Keep it up
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