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Simple Simon Balance Line Trading

  • #321
  • Jun 14, 2011 8:31am Jun 14, 2011 8:31am
Anyone watching NZDUSD? May close below blue line for a short. Seems to have broken trendline as well. However, still 30 minutes to go.

By the way Colostarr, 5 stars for this thread ! Thanks for sharing.
  • #322
  • Jun 14, 2011 8:35am Jun 14, 2011 8:35am
Colostarr, I have been thinking about your rule regarding the angle of prices approaching the MA. I sort of knew what you meant, but I was always sure that everybody would have a different take on how to interpret that and there would be confusion.

I think I may come up with a simpler rule. Rather than the angle of the prices, take a look at the angle of the MA itself. If it is flat, don't trade. If it sloping when the bar crosses, it can be considered for a potential entry.

PS: second day in a row for a great Swissy trade; I am becoming a believer.
Attached Image (click to enlarge)
Click to Enlarge Name: BL2.jpg Size: 142 KB
  • #323
  • Jun 14, 2011 8:52am Jun 14, 2011 8:52am
Just locked in 20 pips on the USDCHF trade - looks like it might come back down!
  • #324
  • Jun 14, 2011 9:00am Jun 14, 2011 9:00am
You know what? I think you may be onto something there Codemeister. I am getting ready to head to the room for the day. I will definitely look at that closer. Thank you for the input!

Glad we finally convinced you of the simplicity and power of this method! Again - thank you for the alert indicator!

Quoting CodeMeister
Colostarr, I have been thinking about your rule regarding the angle of prices approaching the MA. I sort of knew what you meant, but I was always sure that everybody would have a different take on how to interpret that and there would be confusion.

I think I may come up with a simpler rule. Rather than the angle of the prices, take a look at the angle of the MA itself. If it is flat, don't trade. If it sloping when the bar crosses, it can be considered for a potential entry.

PS: second day in a row for a great Swissy trade; I am becoming a believer....
  • #325
  • Jun 14, 2011 9:01am Jun 14, 2011 9:01am
Hopefully the USDCHF performs the same way the GBPJPY did with the exact same setup - would love to lock in another 90 pips! That was awesome!

Quoting Colostarr
Just locked in 20 pips on the USDCHF trade - looks like it might come back down!
  • #326
  • Jun 14, 2011 9:03am Jun 14, 2011 9:03am
NZDUSD closed with a nice pin bar above blue line (see below). Colostarr, would you take a buy when price break the high of the pin bar or would you wait for a bouncing bar to enter?

Thanks.
Attached Image (click to enlarge)
Click to Enlarge Name: nzdusd.gif Size: 17 KB
  • #327
  • Jun 14, 2011 9:28am Jun 14, 2011 9:28am
Quoting Colostarr
Just locked in 20 pips on the USDCHF trade - looks like it might come back down!
I congratulate you on simplifying a complex process. I have followed a similar approach but that was based on simple MAs - prices going above and below. I have not yet gone into Alligator formulas etc but see that it is working well. I have a naive question re. trading - I send it by PM.

Wish everyone Pips - it is sure if this system is followed !
  • #328
  • Jun 14, 2011 9:57am Jun 14, 2011 9:57am
Quoting Colostarr
Hopefully the USDCHF performs the same way the GBPJPY did with the exact same setup - would love to lock in another 90 pips! That was awesome!
Colostarr,

I like your method. I am looking a bar clock to run alongside with your system. it measures the length of time before a bar is close. I knwo there is somewhere posted in ff but can't find it. Appreciate any help.

Edd
  • #329
  • Jun 14, 2011 10:02am Jun 14, 2011 10:02am
Here it is... !


Quoting Edd Ganuelas
Colostarr,

I like your method. I am looking a bar clock to run alongside with your system. it measures the length of time before a bar is close. I knwo there is somewhere posted in ff but can't find it. Appreciate any help.

Edd
Attached File(s)
File Type: ex4 b-clock_modified.ex4   2 KB | 258 downloads
  • #330
  • Jun 14, 2011 10:06am Jun 14, 2011 10:06am
Nice move up upon breakout of the high of the pin bar. Looking on 5M for a possible retrace to enter long.
  • #331
  • Jun 14, 2011 10:18am Jun 14, 2011 10:18am
Quoting CodeMeister
Colostarr, I have been thinking about your rule regarding the angle of prices approaching the MA. I sort of knew what you meant, but I was always sure that everybody would have a different take on how to interpret that and there would be confusion.

I think I may come up with a simpler rule. Rather than the angle of the prices, take a look at the angle of the MA itself. If it is flat, don't trade. If it sloping when the bar crosses, it can be considered for a potential entry.

PS: second day in a row for a great Swissy trade; I am becoming...
Yup whenever you have the MA flat you are gonna see range trading....thats a good indicator to stay away.
  • #332
  • Jun 14, 2011 10:42am Jun 14, 2011 10:42am
It did retrace. I immediately placed a stop at +20 pips (.8417) price retraced to .8418 missing my stop by 1 pip!

Trade still alive +39 pips and counting!

Quoting Phiksalamuk
Out at +45pips, I feel that price may retrace following the strong move...
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf.gif Size: 23 KB
  • #333
  • Jun 14, 2011 10:46am Jun 14, 2011 10:46am
Lets not forget that I called this a bounce trade long before the news hit (although the news helped it along!).

This trade setup exactly like the GBPJPY trade from last night!

Quoting Titch
What a beautiful move! You got the breakout you were looking for! I jumped in as it broke resistance and cleared a percentage at ATR then have left the rest riding. I have put my SL above BE to protect more profits

Now moved my SL to just below 84322 as it might re test this as support and I will just let it stop me out if it drops below.

Titch
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf.gif Size: 20 KB
  • #334
  • Jun 14, 2011 10:48am Jun 14, 2011 10:48am
Oh my GOD I think I got wood looking at that set up. I would have been ALL over that trade! Good catch!

Quoting Phiksalamuk
NZDUSD closed with a nice pin bar above blue line (see below). Colostarr, would you take a buy when price break the high of the pin bar or would you wait for a bouncing bar to enter?

Thanks.
  • #335
  • Jun 14, 2011 10:52am Jun 14, 2011 10:52am
welcome vilas will check pm and get back to you!

Quoting vilas
I congratulate you on simplifying a complex process. I have followed a similar approach but that was based on simple MAs - prices going above and below. I have not yet gone into Alligator formulas etc but see that it is working well. I have a naive question re. trading - I send it by PM.

Wish everyone Pips - it is sure if this system is followed !
  • #336
  • Jun 14, 2011 10:53am Jun 14, 2011 10:53am
Would you have entered at the high of the pin bar ? I was waiting for a bouncing confirming bar, but it came too strongly... I'm prepared to enter on 5M looking at a 5M bounce on fib level and trendline...

Quoting Colostarr
Oh my GOD I think I got wood looking at that set up. I would have been ALL over that trade! Good catch!
  • #337
  • Jun 14, 2011 10:54am Jun 14, 2011 10:54am
how does it work?

Quoting Phiksalamuk
Here it is... !
  • #338
  • Jun 14, 2011 10:56am Jun 14, 2011 10:56am
Use it as a standard indicator. It gives you the time remaining in minutes for the close of the current bar.

Edit: minutes, seconds or hours depending on your timeframe.

Quoting Colostarr
how does it work?
  • #339
  • Jun 14, 2011 11:00am Jun 14, 2011 11:00am
Hi Colo and Guys
just wanted to say great thread and strategy, read the whole shabang twice and love the simplicity, colo thanks man, I got done with my 3rd trade on this yesterday with the e/u, set it without a stop loss and had to go out and got slaughtered for a 100 pips, though i had 2 winners earlier in day with 25 pips so a 75 loss, my fault and a expensive lesson, i have been trading on and off for about 3 years so should no better, I trade live not demo as i believe emotion is better tested live and kicks you better when you lose, but you learn more, i hope to add something to the thread and usually have the patience to wait for trades, lot of sense spoken by you guys which is refreshing, good luck guys
respect to all

Tom (UK)
  • #340
  • Jun 14, 2011 11:07am Jun 14, 2011 11:07am
I'm long NZDUSD, not by the rules, but on a 5m entry (fib bounce and trendline). Should have taken earlier pin bar entry...
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