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Simple Simon Balance Line Trading

  • #1,041
  • Jun 22, 2011 5:15am Jun 22, 2011 5:15am
Missed it on the 15tf - just now triggered in on the 1H

Quoting handy148
EU short triggered on M15
  • #1,042
  • Jun 22, 2011 5:26am Jun 22, 2011 5:26am
hey please tell me how it is an indicator, we use a strategy more difficult

thx in advance
  • #1,043
  • Jun 22, 2011 5:34am Jun 22, 2011 5:34am
Colo and others - if you look at that M15 triggered trade on EU, the price at time of writing is now higher than initial entry. Do you every take another position at a better/higher price ?
  • #1,044
  • Jun 22, 2011 5:51am Jun 22, 2011 5:51am
The new dashboard alerter is now available in this thread http://www.forexfactory.com/showthre...67#post4715267
Please post any problems or concerns on that thread and not this one. If you post here, there is a chance I may miss it. I will try to answer all posts on the other thread, however there some rules to follow, so please read them carefully.

Also keep in mind this is a simple strategy and therefore the new indicator is also simple. It is not meant to cater to everyone's whims, rather to the majority's needs keeping in mind that simple is better.

I hope you enjoy it and find it useful to catch some pips.
  • #1,045
  • Jun 22, 2011 5:52am Jun 22, 2011 5:52am
The only time I set pending orders is when they are in line with the method rules.

As for EURUSD - and maybe titch can clarify, I think maybe entry should have been placed below the 50ema here. Notice how it bounced from the 50ema?

Quoting handy148
Colo and others - if you look at that M15 triggered trade on EU, the price at time of writing is now higher than initial entry. Do you every take another position at a better/higher price ?
  • #1,046
  • Jun 22, 2011 5:59am Jun 22, 2011 5:59am
Codemeister - this is fantastic stuff! Thank you again!

Quoting CodeMeister
The new dashboard alerter is now available in this thread http://www.forexfactory.com/showthre...67#post4715267
Please post any problems or concerns on that thread and not this one. If you post here, there is a chance I may miss it. I will try to answer all posts on the other thread, however there some rules to follow, so please read them carefully.

Also keep in mind this is a simple strategy and therefore the new indicator is also simple. It is not meant to cater to everyone's whims, rather to the majority's needs keeping...
  • #1,047
  • Jun 22, 2011 6:15am Jun 22, 2011 6:15am
Quoting Colostarr
The only time I set pending orders is when they are in line with the method rules.

As for EURUSD - and maybe titch can clarify, I think maybe entry should have been placed below the 50ema here. Notice how it bounced from the 50ema?
Sorry guys

Got caught with someone at the door.

I'll have a look now

Sorry Rick was in mid conversation when there was a knock at the door
Happy trading all. Titch
  • #1,048
  • Jun 22, 2011 6:29am Jun 22, 2011 6:29am
Quoting Colostarr
The only time I set pending orders is when they are in line with the method rules.

As for EURUSD - and maybe titch can clarify, I think maybe entry should have been placed below the 50ema here. Notice how it bounced from the 50ema?
Thats right rick. Think of the 50ma as S/R. If I am entering a trade and it is about to hit the 50 ma I will set the order below as you can see it bounced first like a support line. Sometimes it will continue and sometimes it will bounce and reverse. If you look at earlier this morning the same thing happened. Price hit the 50 bounced up then broke the 50 support then retested it as resistance then fell. If price has broken the balance line and is sitting on the 50 I will take the trade below the 50 in case it acts as support and then reverses.
I hope I have explained it ok
Happy trading all. Titch
  • #1,049
  • Jun 22, 2011 6:33am Jun 22, 2011 6:33am
EU current M15 candle toying with 50 EMA now
  • #1,050
  • Jun 22, 2011 6:38am Jun 22, 2011 6:38am
Quoting handy148
EU current M15 candle toying with 50 EMA now
Also look at the balance line which is going down up down and the 50 is laying almost flat showing a sideways range market. Great for scalping not so great for picking up larger trend pips.
As I said before you don't really need the 50 with colos method I just found that it has helped me with entries and exits as another confirmation

I hope this helps
Happy trading all. Titch
  • #1,051
  • Jun 22, 2011 7:37am Jun 22, 2011 7:37am
Past 2 candles on the balance line and experiencing resistance with 50 EMA
  • #1,052
  • Jun 22, 2011 7:48am Jun 22, 2011 7:48am
In my opinion - this pair is in transition. I believe the short term upward momentum is about to come to a screeching halt. If the current 1H candle closes below or on the Blue line, the subsequent action will be downward.

I believe this is going to be a 3 tap (or as jrushing calls 3 sisters) bounce.

Have already set my pending sell stop at .97264

Quoting godwin2002
Past 2 candles on the balance line and experiencing resistance with 50 EMA
  • #1,053
  • Jun 22, 2011 8:00am Jun 22, 2011 8:00am
Every time I see this it happens, no matter the TF. Price rides or taps the blue line and fails to make a new high or low, it bounces OFF and continues the over all trend, nixing the short term trend. Generally off the 3 rd candle.

We shall see

Quoting Colostarr
In my opinion - this pair is in transition. I believe the short term upward momentum is about to come to a screeching halt. If the current 1H candle closes below or on the Blue line, the subsequent action will be downward.

I believe this is going to be a 3 tap (or as jrushing calls 3 sisters) bounce.

Have already set my pending sell stop at .97264
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad.gif Size: 28 KB
  • #1,054
  • Jun 22, 2011 8:23am Jun 22, 2011 8:23am
Hi all just to let you know simple simon trading will be starting on facebook. It has only just been set up today but will start to grow as this thread has. Go and have a look if you fancy it. We will also be posting tips on there as well.
Link
http://www.facebook.com/pages/Simple...655376?sk=info

Feel free to post on the wall as well
Happy trading all. Titch
  • #1,055
  • Jun 22, 2011 8:24am Jun 22, 2011 8:24am
Thank You Neil for taking the time to do that!

Quoting Titch
Hi all just to let you know simple simon trading will be starting on facebook. It has only just been set up today but will start to grow as this thread has. Go and have a look if you fancy it. We will also be posting tips on there as well.
Link
http://www.facebook.com/pages/Simple...655376?sk=info

Feel free to post on the wall as well
  • #1,056
  • Jun 22, 2011 8:26am Jun 22, 2011 8:26am
Quoting Colostarr
Thank You Neil for taking the time to do that!
No probs mate
Happy trading all. Titch
  • #1,057
  • Jun 22, 2011 8:27am Jun 22, 2011 8:27am
Quoting Titch
Hi all just to let you know simple simon trading will be starting on facebook. It has only just been set up today but will start to grow as this thread has. Go and have a look if you fancy it. We will also be posting tips on there as well.
Link
http://www.facebook.com/pages/Simple...655376?sk=info

Feel free to post on the wall as well
I am going to get around and create an account for facebook. Still dont have one...lol. Look forward to making pips with yall.
  • #1,058
  • Jun 22, 2011 8:38am Jun 22, 2011 8:38am
USDCHF from 0.8400 looks good.
  • #1,059
  • Jun 22, 2011 8:57am Jun 22, 2011 8:57am
USDCAD - Heeeeerrrreee kitty, kitty, kitty
  • #1,060
  • Jun 22, 2011 9:13am Jun 22, 2011 9:13am
Fish on! Get the net!
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