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Simple Simon Balance Line Trading

  • #281
  • Jun 14, 2011 3:30am Jun 14, 2011 3:30am
Hey Colostarr, have a look at the attachment. If this was the close of the candle would you see it as a setup to place a trigger for a sell stop or is the approach a bit flat?
Attached Image (click to enlarge)
Click to Enlarge Name: gbpaud.gif Size: 23 KB
  • #282
  • Jun 14, 2011 3:31am Jun 14, 2011 3:31am
WOW EURJPY TOOK off - another missed trade
  • #283
  • Jun 14, 2011 3:46am Jun 14, 2011 3:46am
This is a very interesting system - with so many potential pairs to follow I'm surprised you guys don't have a trading room on skype or somewhere. Then ther are many eyes watching and there's always someone to alert others to a possible opportunity.
  • #284
  • Jun 14, 2011 3:48am Jun 14, 2011 3:48am
Hi Colostarr
I caught a beauty thanks to you this morning. Many thanks mate! Got up at 3am to get a drink and noticed a trade signal for EUR/JPY. caught the move and rode it for 82pips. I only closed out because at 8am I had to take my son to school. Not much sleep but a great result. Used in conjunction with S/R lines and round numbers for potential exit points this is one powerful strategy. Once again Colostarr Many Thanks. I also use a similar strategy for S/L. I go to the low of the previous candle or two as after two candles reversing my thought is it could be a two bar reversal trend change. My thought, best to be safe than sorry. (Lock in those pips)
I can honestly say that all the years I have been trading this is the most simple but affective strategy I have ever come across!!!!
Definitely one for the toolbox!
Once again Thanks Colostarr and keep up the great work on this thread

Happy trading all

Titch
Happy trading all. Titch
  • #285
  • Jun 14, 2011 3:54am Jun 14, 2011 3:54am
What do you think of USDCHF? It is breaking out of range and shall probably close above balance line.

JP
  • #286
  • Jun 14, 2011 3:54am Jun 14, 2011 3:54am
My fault - I over analyzed the EURCHF. Hopefully some of you didnt listen and took the trade, because it took off too!
  • #287
  • Jun 14, 2011 4:02am Jun 14, 2011 4:02am
Quoting Phiksalamuk
What do you think of USDCHF? It is breaking out of range and shall probably close above balance line.

JP
Pending buy stop placed. Although I don't like it to so close to 0.84 round number... USDJPY has as well crossed, but I don't like current range bound move.
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf.gif Size: 17 KB
  • #288
  • Jun 14, 2011 4:04am Jun 14, 2011 4:04am
Hi Phiksalamuk

I personally would not take this unless it breaks the resistance line it is teetering on. It is bouncing around 83964. If it breaks this I would consider taking it. But thats just me. Remember the old rules never buy or sell against S/R levels.

Happy trading all

Titch
Happy trading all. Titch
  • #289
  • Jun 14, 2011 4:23am Jun 14, 2011 4:23am
Yes, thanks for that Titch. Playing the breakout here. Just demo trading, so let's see...

Quoting Titch
Hi Phiksalamuk

I personally would not take this unless it breaks the resistance line it is teetering on. It is bouncing around 83964. If it breaks this I would consider taking it. But thats just me. Remember the old rules never buy or sell against S/R levels.

Happy trading all

Titch
  • #290
  • Jun 14, 2011 4:38am Jun 14, 2011 4:38am
Concur with both observations. Although I was just triggered into the USDJPY short

Quoting Phiksalamuk
Pending buy stop placed. Although I don't like it to so close to 0.84 round number... USDJPY has as well crossed, but I don't like current range bound move.
  • #291
  • Jun 14, 2011 4:57am Jun 14, 2011 4:57am
Set buy stop at .8831 for EURGBP stop loss at .8791
  • #292
  • Jun 14, 2011 5:08am Jun 14, 2011 5:08am
Hi Colostarr

Great minds think alike. Sat waiting for the same one!

Titch
Happy trading all. Titch
  • #293
  • Jun 14, 2011 5:20am Jun 14, 2011 5:20am
Hi colostarr

I have taken over 130 pips this morning just using your strategy. Great mornings trading so far! (See my posr No 284) Some great moves

Happy trading all

Titch
Happy trading all. Titch
  • #294
  • Jun 14, 2011 5:26am Jun 14, 2011 5:26am
I'm long USDCHF...

Quoting Colostarr
Concur with both observations. Although I was just triggered into the USDJPY short
  • #295
  • Jun 14, 2011 5:40am Jun 14, 2011 5:40am
Quoting Phiksalamuk
I'm long USDCHF...
Hi Phiksalamuk

If it breaks the resistance I will take it as well but I reckon it might bounce. I hope it goes your way.

Happy trading all
Happy trading all. Titch
  • #296
  • Jun 14, 2011 5:47am Jun 14, 2011 5:47am
Thanks Tiitch. Negative territory so far. If it doesn't bounce on previous resistance, will close the trade.

Quoting Titch
Hi Phiksalamuk

If it breaks the resistance I will take it as well but I reckon it might bounce. I hope it goes your way.

Happy trading all
  • #297
  • Jun 14, 2011 6:03am Jun 14, 2011 6:03am
Hey ,

Sorry to be blunt , but is anyone using this system live ?

And should i expect a different result from demo or live using the same parameters ?

PS : i am new to trading , so if my questions are too personal tell me
  • #298
  • Jun 14, 2011 6:11am Jun 14, 2011 6:11am
Awesome titch - great strategy isnt it??

Quoting Titch
Hi colostarr

I have taken over 130 pips this morning just using your strategy. Great mornings trading so far! (See my posr No 284) Some great moves

Happy trading all

Titch
  • #299
  • Jun 14, 2011 6:11am Jun 14, 2011 6:11am
I didn't like it so I closed it at +5 pips - it just didn't "feel right"

Quoting Titch
Hi Phiksalamuk

If it breaks the resistance I will take it as well but I reckon it might bounce. I hope it goes your way.

Happy trading all
  • #300
  • Jun 14, 2011 6:23am Jun 14, 2011 6:23am
Quoting Colostarr
I didn't like it so I closed it at +5 pips - it just didn't "feel right"
I am not sure is that a fake.All other make gains????
When i send a chart...... may be your stops ....bla bla...bla...
But i set them only so as in the rules are.The next lossers.Could i get a answere,what is and what is wrong,please?
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: 2011-06-14_131321.png Size: 18 KB
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