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The perfect trading system

  • #241
  • May 3, 2011 5:18am May 3, 2011 5:18am
H4 has broken the previous support around 1.66190. The next support is around 1.64381. The temporary support is at the blue area on the 2nd chart. Will it be broken or will it hold? The close of the current H4 candle will confirm this. Until 1.64381 is broken the uptrend is still in place.

With H4 candle you only need to check your chart only every 4 hours, everything in between are mere distractions.

The first two charts show where the price was when I posted the message on Cable thread about 2 hours ago and the last chart is where the price is at the the moment. The charts are useful for day traders and the numbers of pips in the support and resistance areas on H4 charts are shown on the charts.


Enjoy your trading!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: may - gbpusd - h41.gif Size: 16 KB
Click to Enlarge Name: may - gbpusd - h42.gif Size: 12 KB
Click to Enlarge Name: may - gbpusd - h43.gif Size: 16 KB
  • #242
  • May 3, 2011 5:24am May 3, 2011 5:24am
This is the third chart which was not attached to the last post. It shows the current price.
Attached Image (click to enlarge)
Click to Enlarge Name: may - gbpusd - h43.gif Size: 16 KB
  • #243
  • May 4, 2011 1:51pm May 4, 2011 1:51pm
The secrets of forex trading are hidden in the weekly timeframe and the simplest way to discover these secret is the zoom function on your platform.

Look at the two weekly charts below and see where the big boys are going. The direction is obvious and the target is in full glare. Take your direction on the weekly timeframe and drill down to the lower time frames to follow the ride.
Attached Thumbnailshttp://www.forexfactory.com/attachme...1&d=1304534741 http://www.forexfactory.com/attachme...1&d=1304534741
  • #244
  • May 7, 2011 3:54pm May 7, 2011 3:54pm
Hi everyone

Well I've been (DEMO) trading for just under 2 years ($3,000) account and have a profit(one trade still running,over a year now) of $9854.47.

Balance $12854.87

Equity $ 9910.28 (I know before anyone posts) this is my ACTUAL Equity were I to close my open trade

Margin 1378.56

FREE Margin 8531.72

Margin Level 718.89%

The reason my trade is still running was due to my inexperience early on,but I still have a very profitable account

When I first set out on my Forex journey,I also didn't understand all the jargon associated with it.

After studying it (a lot) a 1:50 leverage(in my opinion) is not at all HIGH risk.

That said leverage is all down to your actual experience in trading

Hope my input has helped a little to anyone here trying to learn and understand Forex.

Regards

Ken
  • #245
  • May 8, 2011 12:46am May 8, 2011 12:46am
I repeat there is no holy grail
  • #246
  • May 8, 2011 1:25am May 8, 2011 1:25am
not kidding, u made that HIGH profit and u still playing DEMO???
btw,how old are u Ken??
  • #247
  • May 8, 2011 3:46pm May 8, 2011 3:46pm
Quoting camel toe
not kidding, u made that HIGH profit and u still playing DEMO???
btw,how old are u Ken??
Yeh mate,don't know what my age has to do with it though.

That is truly my return on demo.

I've sent my trading stats off to other people,who have actually asked if I'd be willing to trade on their behalf (splitting 50/50 profit).

To be honest,I think my main reason for not going ahead is,I've heard demo is a LOT different from REAL,and if I did go on to wipe out (someone else's) money I couldn't live with the reality,of knowing it was MY fault and THEIR money

I will go on to a live account,hopefully by the end of this year when I'm totally happy with my stategy and plan.

Regards

Ken
  • #248
  • May 8, 2011 4:30pm May 8, 2011 4:30pm
Hello Articulate,

I have been following this thread for almost a year and I can confidently say that in my two and a half years of trading your experiences have helped me the most.

Thank you for the time you take to post here.

In forex my experience is Patience is the name of the game.
  • #249
  • May 9, 2011 2:44am May 9, 2011 2:44am
Im curious indeed, not 'bout your age but 'bout your risk tolerance, Ken.
look like u still young, it s easy with thought that we have a very long time horizon ahead to do this rite?
seriously, I dont have that kind of patient have traded demo for a year and after realized that there would be no motivation without my blood putting on it, I jumped real a newbie, yea, but a bold and greedy one

I want to talk some more, why dont u pm your email to my inbox so we can keep connect
  • #250
  • May 9, 2011 4:13am May 9, 2011 4:13am
This topic is great with good trading experience , but I don't think its title was right since "Nothing is perfect' .

Regards
  • #251
  • May 12, 2011 1:09pm May 12, 2011 1:09pm
ight moment is a very critical skill.

Enjoy your trading!
  • #252
  • May 12, 2011 1:09pm May 12, 2011 1:09pm
useful
  • #253
  • May 12, 2011 1:09pm May 12, 2011 1:09pm
Quoting Rafiki
Hello Articulate,

I have been following this thread for almost a year and I can confidently say that in my two and a half years of trading your experiences have helped me the most.

Thank you for the time you take to post here.

In forex my experience is Patience is the name of the game.

Thanks your nice comments. I am always motivated to share more whenever I read that a trader finds this thread useful. Let me re-emphasise for any trader with adequate knowledge of the market PATIENCE is the difference between success and failure. That ability to wait for the right moment is a very critical skill.

Enjoy your trading!
  • #254
  • May 12, 2011 1:19pm May 12, 2011 1:19pm
Quoting Articulate
H4 has broken the previous support around 1.66190. The next support is around 1.64381. The temporary support is at the blue area on the 2nd chart. Will it be broken or will it hold? The close of the current H4 candle will confirm this. Until 1.64381 is broken the uptrend is still in place.

With H4 candle you only need to check your chart only every 4 hours, everything in between are mere distractions.

The first two charts show where the price was when I posted the message on Cable thread about 2 hours ago and the last chart is where the price...

Price movements could appear eratic, but the destinations are usually obvious on the higher time frames beginning from H4, Daily and weekly.

See where price is at the moment.
Attached Image (click to enlarge)
Click to Enlarge Name: may3 -gbpusd new h4.gif Size: 16 KB
  • #255
  • May 18, 2011 10:41am May 18, 2011 10:41am
Hello Articulate,

Please help me draw boxes for trading currently on the GBP/CHF.

I have been shorting from about the 4900 range and I believe there is more room for a decline.

Thank you
  • #256
  • May 19, 2011 3:34pm May 19, 2011 3:34pm
Quoting Articulate
Price movements could appear eratic, but the destinations are usually obvious on the higher time frames beginning from H4, Daily and weekly.

See where price is at the moment.
The blue and yellow lines are the places to watch out for. Everything is in the chart
Attached Image (click to enlarge)
Click to Enlarge Name: 2011 - gbpusd - blueline.gif Size: 18 KB
  • #257
  • May 19, 2011 4:04pm May 19, 2011 4:04pm
Quoting Rafiki
Hello Articulate,

Please help me draw boxes for trading currently on the GBP/CHF.

I have been shorting from about the 4900 range and I believe there is more room for a decline.

Thank you
As long as the red trendline holds price action, the pressure to the downside is still intact. The lower support on 1.41000 is a very strong support. For this support to be broken in the short term, the daily candle needs to open and close below it. I attach the weekly and daily charts for gbpchf showing the key support/resistance areas.

To draw this line, pick any chart and get your major support/resistance areas on the weekly charts and the daily charts for minor support/resistance. With practice you will find it easier to identify these levels

Have a great day!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2011 - gbpchf - charts weekly.gif Size: 13 KB
Click to Enlarge Name: 2011 - gbpchf - charts daily.gif Size: 15 KB
  • #258
  • May 31, 2011 1:31pm May 31, 2011 1:31pm
What I will share you over the next few weeks is the outcome of some of the research efforts I have concluded. I call these charts the mastercharts. The yellow lines are the major support/resistance area, while the blue/red lines are for minor support/resistance

Replicate the levels on the chart on your trading platform. They are good enough to guide to a profitable trading you for a long time to come.

I share these charts here for the benefit of the lucky few who will be disciplined enough to exploit their usefulness.

The charts are for monthly, weekly, daily, H4 timeframe charts for the majors pairs.

Have a good day!
  • #259
  • May 31, 2011 1:40pm May 31, 2011 1:40pm
the Major support/resistance zones for AUDUSD are basically around 750 pips. Here is the monthly and weekly charts
Attached Image(s) (click to enlarge)
Click to Enlarge Name: june - audusd - monthly.gif Size: 14 KB
Click to Enlarge Name: june - audusd - weekly.gif Size: 13 KB
  • #260
  • May 31, 2011 1:43pm May 31, 2011 1:43pm
Here is the daily and H4 charts showing the same levels.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: june - audusd - daily.gif Size: 14 KB
Click to Enlarge Name: june - audusd - h4.gif Size: 16 KB
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