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Simple Simon Balance Line Trading

  • #601
  • Jun 16, 2011 11:37am Jun 16, 2011 11:37am
Quoting jrushing
if i can make a suggestion on how to trade the EurGbp on this method, this pair always pulls back on a cross (against the H4 trend) see yellow areas. Until I see a full cross and close on a H4 chart I will either use very tight stop loss and wait for it to touch touch the blue line the second time, OR i wait for a full cross of the H4 trend. Also on a trend line , some of time the 2nd touch and 95% of the time on a 3rd touch (also called triple tap or 3 sisters) the PA will fall a good ways Up/or down
I feel your strategy, I have a same chart with trend line on it, and I like your approach after it hits the trend line for assurance and wait for it to cross the balance line back. That needs patience. It seems it is respecting the trend line. Let'see how it is going to turn. it is bouncing as I am writing.

Happy trading.
  • #602
  • Jun 16, 2011 11:41am Jun 16, 2011 11:41am
You are looking at the overall PA I am talkig about on the 9th it crossed and the next candle it turn down and touched the blueline, i would have gotten in at the blueline and rode it up to the trendline.

On the 13th it crossed up then the next 2 candle came down and closed below the blueline, then back up across then down to the blueline on a pin bar then back up to the trendline.

Quoting Colostarr
Not sure I'm following you J. Your chart (especially the blue line) does not match up with mine. I see a cross on the 9th at 1200 GMT, it pulled back to touch on the 10th at 0800 GMT then went down. Are you looking for another touch on the 4h?

The trade I took initially which is stil active was from the daily TF. Initial cross.

Can you clarify?
  • #603
  • Jun 16, 2011 11:42am Jun 16, 2011 11:42am
I don't know if you noticed but this system is a monster on the 4hr using eur-usd. Just open a position when the candle closes above or below the blue line. Just on this last signal you would be up more than 300 pips since last week. And it's less time consuming. So if you don't have alot of time you could use this. Of course you will get some bad ranging every once in a while but i think it's a winner. GL
  • #604
  • Jun 16, 2011 11:44am Jun 16, 2011 11:44am
I think i've had enough for the day and the wife is calling. Catch you all soon
Happy trading all. Titch
  • #605
  • Jun 16, 2011 3:52pm Jun 16, 2011 3:52pm
I thing EurUsd is going to the North..... I'm prepare to entry this hour & see what happen next...
  • #606
  • Jun 16, 2011 4:24pm Jun 16, 2011 4:24pm
Quoting vic3
I thing EurUsd is going to the North..... I'm prepare to entry this hour & see what happen next...
That's right!EUR/USD is going up. we just have to wait for the signal to enter. USD/CHF, EUR/GBP, AND EUR/CAD are doing just fine.

Happy trading
  • #607
  • Jun 16, 2011 11:00pm Jun 16, 2011 11:00pm
I don't know which I hate worse, Mondays or Fridays. Every pair that I trade, the MA has gone FLAT - The Alligator is sleeping. Although, Europe and London are not open yet - but there is NO MOVEMENT
  • #608
  • Jun 16, 2011 11:02pm Jun 16, 2011 11:02pm
With this system , especially after a huge run down, it takes patients to wait for the good set up
  • #609
  • Jun 16, 2011 11:05pm Jun 16, 2011 11:05pm
i set the eurgbp trade and the Nzd trade and went a play golf, got stop out on nzd and got 30 pips on the eurgbp, oh cant have screaming days everyday, i am working on a EA for this method, we will see what happens
  • #610
  • Jun 16, 2011 11:21pm Jun 16, 2011 11:21pm
I guess the reason I am still not tracking with you is because the way you describe where Price crosses, particularly on the 13th does not match up with my chart for that pair.

My chart shows PA hovering well below the blue line, and never crossing. Just to confirm we are talking about the EURGBP 4H chart - yes?

Take a look at my attachment - the way you described how it moved does not match up with my chart at all.

Maybe if you post up your template I can apply what you are looking at on my chart, and get a grasp of what you are talking about. Otherwise I feel you lost me brother- sorry

Quoting jrushing
You are looking at the overall PA I am talkig about on the 9th it crossed and the next candle it turn down and touched the blueline, i would have gotten in at the blueline and rode it up to the trendline.

On the 13th it crossed up then the next 2 candle came down and closed below the blueline, then back up across then down to the blueline on a pin bar then back up to the trendline.
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp.gif Size: 19 KB
  • #611
  • Jun 16, 2011 11:36pm Jun 16, 2011 11:36pm
Yeah man - I knew that - doesn't mean I have to like it though! Gotta have my pips - slow at work today, the PERFECT opportunity to get some trades in.

Although I was just triggered into a GBPUSD 30 min short trade. Drilled down a time frame went PIP hunting!

Quoting jrushing
With this system , especially after a huge run down, it takes patients to wait for the good set up
  • #612
  • Jun 16, 2011 11:43pm Jun 16, 2011 11:43pm
writing up a chart now, will take this to PM


Quoting Colostarr
Yeah man - I knew that - doesn't mean I have to like it though! Gotta have my pips - slow at work today, the PERFECT opportunity to get some trades in.

Although I was just triggered into a GBPUSD 30 min short trade. Drilled down a time frame went PIP hunting!
  • #613
  • Jun 16, 2011 11:48pm Jun 16, 2011 11:48pm
J-Man are you using HA candles?

Quoting jrushing
writing up a chart now, will take this to PM
  • #614
  • Jun 17, 2011 12:21am Jun 17, 2011 12:21am
Hi everybody,
eur/usd, aud/usd crossed the balance line, I took those trades and also usd/chf is building up a candle but it seems it isn't moving anywhere.

Happy trading
  • #615
  • Jun 17, 2011 12:22am Jun 17, 2011 12:22am
I do on some of my strategies, but I REALLY do not like them that much, I run about 8 different accounts, so I run different methods.........and so i can hedge if i need to.

So far in my trading experience this method has the most "less Risk" than I and ever seen. Newbies need to stick to the 1 and 4 hour, more experience traders can go to the 30 and 15 IF THEY KNOW WHAT THEY ARE DOING.


Quoting Colostarr
J-Man are you using HA candles?
  • #616
  • Jun 17, 2011 12:32am Jun 17, 2011 12:32am
I took the NZDUSD - I hate the spread - but took the trade anyway

Quoting southbeach
Hi everybody,
eur/usd, aud/usd crossed the balance line, I took those trades and also usd/chf is building up a candle but it seems it isn't moving anywhere.

Happy trading
  • #617
  • Jun 17, 2011 12:55am Jun 17, 2011 12:55am
i was answering all the PM's and missed, looks like range trading until the london open, maybe it will move then, so tired of the 5 10 15 pips, LOL, but they all still add up. a pip in profit is still a good thing
  • #618
  • Jun 17, 2011 2:01am Jun 17, 2011 2:01am
NZDUSD sell trade stopped out.

Placed buy stop at .8050 - just triggered in on my Oanda MT4

Gotta say I had forgotten about the low spreads that Oanda offers.

Interbank Spread NZDUSD - 6 pips
Oanda Spread NZDUSD - 2 pips
  • #619
  • Jun 17, 2011 2:09am Jun 17, 2011 2:09am
NZDUSD on my IBFX account triggered and now it is going against me.

PA is definetly ranging right now. I get stopped out here, i am going to give it a break for a while!

Quoting Colostarr
NZDUSD sell trade stopped out.

Placed buy stop at .8050 - just triggered in on my Oanda MT4

Gotta say I had forgotten about the low spreads that Oanda offers.

Interbank Spread NZDUSD - 6 pips
Oanda Spread NZDUSD - 2 pips
  • #620
  • Jun 17, 2011 2:31am Jun 17, 2011 2:31am
Hi Colostarr and everybody else that have contributed to this thread
Ive have read all the posts and this is far the best system I have seen
started reading it yesterday so I will have a shot at it today, keep up
the good work, this is really good
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