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A "new" simple system based on MA

  • #141
  • Apr 12, 2011 11:39am Apr 12, 2011 11:39am
I always have difficulties to trade Price Action. That is my weakness. I know the theory : Identify the trend, wait for the pullback, then follow the trend, but still..somehow, it is still difficult to me to understand Price Action.

But I found your thread just a few hours ago and read it.
Then your ADX, Guppy, and Stochastic give me something like "AHA....!!!!"
I even setup my Metatrader in my PDA using your setting as I happy to trade this Pullback, one thing that I like the most, Your method use the standart indicator which can be applied on the PDA!

I will follow your thread closely. BTW..just now I took short according to your rule. Nice short for 10 pips

Thanks hmaoui!!!!
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  • #142
  • Apr 12, 2011 11:49am Apr 12, 2011 11:49am
Another entry for +5 pips
Buy @1.4470, out @ 1.4475.
BTW..when I wrote this, the price already @ 1.4485 ... even new high was @ 1.4490....arrrrggghhhhh

I had no dare to take more, cos I worried the US is having lunch now.

But pips is pips...even BE is better than minus
I'm willing to learn more this strategy thanks hmaoui !
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  • #143
  • Apr 12, 2011 12:50pm Apr 12, 2011 12:50pm
Perfect setup man ! I want the system to be simple to be traded by a child. When I build a system, I want something which suits me and which is very simple to be easily understood. I think you can trade with confidence something you understand well and then you master. That is my philosophy! Hope it will help some traders here...

Quoting Bom-Bom
I always have difficulties to trade Price Action. That is my weakness. I know the theory : Identify the trend, wait for the pullback, then follow the trend, but still..somehow, it is still difficult to me to understand Price Action.

But I found your thread just a few hours ago and read it.
Then your ADX, Guppy, and Stochastic give me something like "AHA....!!!!"
I even setup my Metatrader in my PDA using your setting as I happy to trade this Pullback, one thing that I like the most, Your method use the standart indicator which can be applied...
  • #144
  • Apr 12, 2011 12:56pm Apr 12, 2011 12:56pm
This is not a perfect setup here but you can try. Why it is not a perfect setup ? Because the EMAs are not spreading very well so it could be a bad trade. In this case, you can put your SL at B/E as soon as 5 pips won and let a trailing stop to grab some more pips. Or you can take a small profit if you prefer but it depends on your style.

Personally, I try to focus only on perfect setups and stay flat on those which are not sure. If this is a day with no signal (extremely rare but it happens), you can try "not perfect" setups with trailing stops...if there is a breakout you can grab much pips (I took 80 pips once !). It's up to you but +5 pips is better than B/E or a loss !!! Good job.

Quoting Bom-Bom
Another entry for +5 pips
Buy @1.4470, out @ 1.4475.
BTW..when I wrote this, the price already @ 1.4485 ... even new high was @ 1.4490....arrrrggghhhhh

I had no dare to take more, cos I worried the US is having lunch now.

But pips is pips...even BE is better than minus
I'm willing to learn more this strategy thanks hmaoui !
  • #145
  • Apr 12, 2011 12:58pm Apr 12, 2011 12:58pm
I use this system on short TF but you can use it on longer (such as 1h or 4h). If you trade it on higher TF please take the time to tell us if it is good for you or not.

I have another system (very simple too) I use on 1h TF, but I want to focus on this one at the moment to get more readers and to keep the thread alive.
  • #146
  • Apr 12, 2011 1:41pm Apr 12, 2011 1:41pm
Thank you for this very simple and profitable system. I will be testing it, probably on M5 charts.

There are many things I like about it - can trade it on any currency, any time frame and it has very reasonable stops.

Carol
  • #147
  • Apr 12, 2011 5:13pm Apr 12, 2011 5:13pm
Quoting hmaoui
I use this system on short TF but you can use it on longer (such as 1h or 4h). If you trade it on higher TF please take the time to tell us if it is good for you or not.

I have another system (very simple too) I use on 1h TF, but I want to focus on this one at the moment to get more readers and to keep the thread alive.
You got my attention Mr hmaoui
BTW, I lived @ GMT +7, and I have day job from 00 GMT to 10 GMT, hopefully I can post my setup to discuss it during that time (especially when my boss away ).

BTW..please keep the method simple Mr hmaoui Thanks!
  • #148
  • Apr 12, 2011 5:16pm Apr 12, 2011 5:16pm
Quoting hmaoui
This is not a perfect setup here but you can try. Why it is not a perfect setup ? Because the EMAs are not spreading very well so it could be a bad trade. In this case, you can put your SL at B/E as soon as 5 pips won and let a trailing stop to grab some more pips. Or you can take a small profit if you prefer but it depends on your style.

Personally, I try to focus only on perfect setups and stay flat on those which are not sure. If this is a day with no signal (extremely rare but it happens), you can try "not perfect" setups with trailing...
Unfortunately I trade on broker with 10 pips away to put SL or TP, I have to do it manually when it comes to 5 pips BE...but, I'll give it a try manually
  • #149
  • Apr 12, 2011 8:36pm Apr 12, 2011 8:36pm
I'm not get used with Asian Market, moreover, this is 1 Minute Scalping, still has no guts yet to scalp more pips on Asian Market on 1 Minute TF. Need to learn more from hmoui

Anyway, it's a nice +5 in the morning here
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  • #150
  • Apr 13, 2011 12:46am Apr 13, 2011 12:46am
Nail 16 pips from Frankfurt Open.
too bad must let it go even I already got an EA (thanks to my friend) that has locked my pos for 10 pips profit (the Boss called me to see him, can't leave my position open without me in front of my screen).
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  • #151
  • Apr 13, 2011 3:06am Apr 13, 2011 3:06am
Hi Bom-Bom,

Nice trade!

Could you tell me how to make and post a screenshot?

I tried using Paint but seems to be not working.

Thanks
  • #152
  • Apr 13, 2011 3:29am Apr 13, 2011 3:29am
Quoting Rf7
Hi Bom-Bom,

Nice trade!

Could you tell me how to make and post a screenshot?

I tried using Paint but seems to be not working.

Thanks
Hi..it is very easy.
From your Metatrader chart, just click file menu, choose save as picture, choose "Active chart as is " (or other 2 options).
Then open your saved chart using Microsoft PAINT
Just edit it whatever you like...

BTW...I'm waiting hmaoui..where is he?
In H1 chart of EURUSD I saw Double Top, but on M5 Euro Chart there is sign of Buy Signal..I am really hesitate on this situation. I already short based on Double Top Formation @ 4504 (not by this method). Let's see which one is on the winning side
  • #153
  • Apr 13, 2011 4:03am Apr 13, 2011 4:03am
Quoting Bom-Bom
Hi..it is very easy.
From your Metatrader chart, just click file menu, choose save as picture, choose "Active chart as is " (or other 2 options).
Then open your saved chart using Microsoft PAINT
Just edit it whatever you like...

BTW...I'm waiting hmaoui..where is he?
In H1 chart of EURUSD I saw Double Top, but on M5 Euro Chart there is sign of Buy Signal..I am really hesitate on this situation. I already short based on Double Top Formation @ 4504 (not by this method). Let's see which one is on the winning side
Thanks for the tip.

I think Hmaoui will be here after NY open.

You should be careful on your short though. It may shoot up, as it has broken flag on H1. Just a thought.
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  • #154
  • Apr 13, 2011 4:11am Apr 13, 2011 4:11am
Quoting Rf7
Thanks for the tip.

I think Hmaoui will be here after NY open.

You should be careful on your short though. It may shoot up, as it has broken flag on H1. Just a thought.
Yes, thanks.....I'm already out for +2. Market is really uncertain. Actually after I short @ 1.4504, EUR has been down to 1.4482 (BID). But because of my greedy , usually Double Top on H1 will bring strong down movement, I put my TP @ 1.4457

Maybe the market wait for US Retail Sales data later. We'll see then.

Edited : there's news just now in Reuters (09:11 GMT) : "Portugal Opposition Social Democrat Leader says country needs bailout to meet payments"

This might drive EUR down...
  • #155
  • Apr 13, 2011 4:16am Apr 13, 2011 4:16am
This is AU trade I took this afternoon for a nice 25 pips!
(bought@ 1.0475, TP 1.0500).

I wanted to buy @ 1.0485, but I was in doubt. So I didn't. I think I need time to get use to the system.
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  • #156
  • Apr 13, 2011 4:25am Apr 13, 2011 4:25am
Quoting Rf7
This is AU trade I took this afternoon for a nice 25 pips!
(bought@ 1.0475, TP 1.0500).

I wanted to buy @ 1.0485, but I was in doubt. So I didn't. I think I need time to get use to the system.
Well yes...that's a setup

I must be fall in love with EUR so I'm blind for others

I'm now looking for the opportunity to short in Euro. With news about bailout @ Portugal and Double Top on H1, hopefully EUR will find its way down, or else, he waits for US Retails Sales Data later
  • #157
  • Apr 13, 2011 4:38am Apr 13, 2011 4:38am
Quoting Bom-Bom
Well yes...that's a setup

I must be fall in love with EUR so I'm blind for others

I'm now looking for the opportunity to short in Euro. With news about bailout @ Portugal and Double Top on H1, hopefully EUR will find its way down, or else, he waits for US Retails Sales Data later
Thanks for the info and encouragement. I'll watch EU closely also.
  • #158
  • Apr 13, 2011 4:50am Apr 13, 2011 4:50am
Got my first stop out using this strategy, too confidence may be?
Hopefully hmaoui will analyze my chart later so I can see my mistake was.

BTW...got to go home from office time. RF7, I'll see you again before US open, thanks for the chit-chat
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  • #159
  • Apr 13, 2011 5:01am Apr 13, 2011 5:01am
Quoting Bom-Bom
Got my first stop out using this strategy, too confidence may be?
Hopefully hmaoui will analyze my chart later so I can see my mistake was.

BTW...got to go home from office time. RF7, I'll see you again before US open, thanks for the chit-chat
You should watch S/R lines on higher TF. I think you entered too close to support line.

OK see you later.
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  • #160
  • Apr 13, 2011 6:55am Apr 13, 2011 6:55am
Hello ! I have a regular job too so like you sometimes my boss want to see him. I hope to become a full time trader in 1 or 2 years with a good capital and perfect discipline. This is a business so you have to behave like a real business man !

There was a perfect setup (I didnt take it because not behind my screen) at 10h18 GMT with around 15 pips profit potential.

Right now, there is not any trend so not any trade ! You can notice price is between 1.4490 and 1.4515. I wait for a trend....

Quoting Bom-Bom
Hi..it is very easy.
From your Metatrader chart, just click file menu, choose save as picture, choose "Active chart as is " (or other 2 options).
Then open your saved chart using Microsoft PAINT
Just edit it whatever you like...

BTW...I'm waiting hmaoui..where is he?
In H1 chart of EURUSD I saw Double Top, but on M5 Euro Chart there is sign of Buy Signal..I am really hesitate on this situation. I already short based on Double Top Formation @ 4504 (not by this method). Let's see which one is on the winning side
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