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Simple Simon Balance Line Trading

  • #1,181
  • Jun 23, 2011 5:35pm Jun 23, 2011 5:35pm
Yes Titch - M15 ok for scalping but can sometimes run into a longer term trade. What's your experience with it ?
  • #1,182
  • Jun 23, 2011 6:28pm Jun 23, 2011 6:28pm
Quoting booktimes
Hi Guys would just like to add my thinking on this pair, could be totally wrong but here goes:
1/ Tick shows balance and 50sma pointing down
2/50% fib in confluence with balance and 50sma around 4290
3/ Major divergence
4/retrace from a obvious downtrend

obviously would wait for confirmation, bounce off either balance or 50sma, just an observation, any thoughts chaps?

respect

Tom
good ovservation, I am watching that one too. wait for confirmation. to me it looks like it is going to bounce and go short. it is already almot 50fibo. unfortunately I am going out now and I don't know what to do about it lol.
  • #1,183
  • Jun 23, 2011 6:39pm Jun 23, 2011 6:39pm
Quoting booktimes
Hi Guys would just like to add my thinking on this pair, could be totally wrong but here goes:
1/ Tick shows balance and 50sma pointing down
2/50% fib in confluence with balance and 50sma around 4290
3/ Major divergence
4/retrace from a obvious downtrend

obviously would wait for confirmation, bounce off either balance or 50sma, just an observation, any thoughts chaps?

respect

Tom
Spot on.

The only thing I would watch for is it looks to me like both the 50ma and the balance line could be flattening out meaning it may go in to a sideways range. Just check that it does not get stuck between the 38.2 and 50% fib in that range. Just me being cautious. My approach would be to let it bounce and see if it breaks the 38.2.
But yes Tom I would say your analysis is spot on my friend.

That would be my thoughts
Happy trading all. Titch
  • #1,184
  • Jun 23, 2011 6:44pm Jun 23, 2011 6:44pm
Quoting Titch
Spot on.

The only thing I would watch for is it looks to me like both the 50ma and the balance line could be flattening out meaning it may go in to a sideways range. Just check that it does not get stuck between the 38.2 and 50% fib in that range. Just me being cautious. My approach would be to let it bounce and see if it breaks the 38.2.
But yes Tom I would say your analysis is spot on my friend.

That would be my thoughts
hi titch,
I already went short since I am going out, putting the stop loss above resistance level. I am already in profit now. let'see how it is going to turn.

I am just afraid I am gonna miss it hhe "no patience"
  • #1,185
  • Jun 23, 2011 6:45pm Jun 23, 2011 6:45pm
Quoting handy148
Yes Titch - M15 ok for scalping but can sometimes run into a longer term trade. What's your experience with it ?
Hi Handy148

I am the same. To me the art of trading is managing the trade. Sometimes I will be on the 15min looking to scalp but if the trade keep on running I will go with it. What starts off as a scalp can sometimes run in to an intraday trend or longer. Then I will just ride it until its time to clear out.
Happy trading all. Titch
  • #1,186
  • Jun 23, 2011 8:36pm Jun 23, 2011 8:36pm
eurusd and audusd short triggered.
  • #1,187
  • Jun 23, 2011 9:04pm Jun 23, 2011 9:04pm
Quoting pipdude
eurusd and audusd short triggered.
On what TF ?
  • #1,188
  • Jun 23, 2011 11:14pm Jun 23, 2011 11:14pm
Quoting Colostarr
Ladies and Gents. I would like to re-introduce the importance of the 50EMA.

Case in point the EURGBP setup for potential short today ON THE 1h.

Without the addition of the 50 ema (thank you Neil!), this trade would have resulted in a loss. I WOULD HAVE TAKEN THIS TRADE 50 TIMES OUT OF 50 TIMES!

See attached charts

So to be sure and to allow for the addage of letting price come to me, I needed price to break that 50 EMA and it did not. The result? If you took this trade per the rules - you would be stopped out now.

50 EMA can keep you...
Two quick q's if I may:

1) Are the settings for the 50EMA the default that you have on your setups? (i.e. Period=50, Shift=0, MA Method=Exponentional, Apply to=Close) ?

2) Do you set your sell/buy orders after the candle has crossed the blue line AND the 50ema? (taking the attachment as a example...wouldn't this have been valid to go long?)


Cheers and am loving them setups and screenshots! Thanks guys!
Attached Image
  • #1,189
  • Jun 23, 2011 11:57pm Jun 23, 2011 11:57pm
Quoting Fx_Pipin
On what TF ?
hourly, but i closed them +0. price ranging at high, so may break higher.
  • #1,190
  • Jun 23, 2011 11:59pm Jun 23, 2011 11:59pm
UJ is bounching from the 50MA and on the Blue line. Hope a good setup.
  • #1,191
  • Jun 24, 2011 12:04am Jun 24, 2011 12:04am
First of all when you save your images from MT4 save them as .gif. Right click on the chart, select "Save picture as", and then click "Active Chart As is". Save to your desktop then open with paint, edit image as needed and save as .gif. Images are easier to read and post much nicer than .bmp.

Setting for the 50ema are default

the same rules apply to the blue line, but if the 50 EMA is looming just above the blue line for a buy or just below the blue line for a sell, use the 50EMA as your target entry (from 50 ema, spread plus or minus 3 pips)

Quoting danbuttigieg
Two quick q's if I may:

1) Are the settings for the 50EMA the default that you have on your setups? (i.e. Period=50, Shift=0, MA Method=Exponentional, Apply to=Close) ?

2) Do you set your sell/buy orders after the candle has crossed the blue line AND the 50ema? (taking the attachment as a example...wouldn't this have been valid to go long?)


Cheers and am loving them setups and screenshots! Thanks guys!
  • #1,192
  • Jun 24, 2011 12:18am Jun 24, 2011 12:18am
Hi there man
Thanks so much for helping us find this system. Using your system, I have made up another indicator and have had me and my brother set up all the right parameters. Just want to let you know how we are getting on. This is demo. I have just started trading with your system today only and have started making money on demo with tradestation, i use them because they have tick chart trading, which is usefull if you want to be in and out of the market very quickly. As of today, after trying all the system out there I have finally realised a profit after nearly all my trades being positive. I would like to post a screenshot of my trades. Can someone let me know how to do it. Thanks
  • #1,193
  • Jun 24, 2011 12:40am Jun 24, 2011 12:40am
I see longs have been triggered on EU M15 and H1
  • #1,194
  • Jun 24, 2011 12:43am Jun 24, 2011 12:43am
and according to our new Balance Line thingy (technical term) nearly all pairs are within 10 points of the balance line.
  • #1,195
  • Jun 24, 2011 12:44am Jun 24, 2011 12:44am
Both are still sideways on my charts - can you post a chart??

Quoting handy148
I see longs have been triggered on EU M15 and H1
  • #1,196
  • Jun 24, 2011 12:45am Jun 24, 2011 12:45am
I actually prefer the more technical term "Yummy, Yummy Blue Line"

Quoting handy148
and according to our new Balance Line thingy (technical term) nearly all pairs are within 10 points of the balance line.
  • #1,197
  • Jun 24, 2011 12:47am Jun 24, 2011 12:47am
I am actually anticipating a nice bounce from the blue line on the daily chart. Would be in line with the very first trade I ever took with this method!

Price is still sideways at the moment, but continuing to monitor

Quoting godwin2002
UJ is bouncing from the 50MA and on the Blue line. Hope a good setup.
  • #1,198
  • Jun 24, 2011 12:47am Jun 24, 2011 12:47am
Hi Colo

Firtsly I have to learn how you post a chart here.

Second I don't use traditional Candles - I use synergy APB (similar to Renko)
  • #1,199
  • Jun 24, 2011 12:56am Jun 24, 2011 12:56am
I am looking to get on the beginning of a move. According to the daily, this pair is looking to rebound north. But right now seems to be sleeping
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusd 15m.gif Size: 24 KB
Click to Enlarge Name: eurusd 1h.gif Size: 29 KB
  • #1,200
  • Jun 24, 2011 1:00am Jun 24, 2011 1:00am
If you use MT4, right click on the chart. Select "Save as picture", then select "Active Chart (As Is)". The image to your desktop as a .gif image.

Right click on the image and open with paint. Edit the file, then simply close paint saving the changes.

Within the reply window click "Attachments", click the "browse" button, find your image and double click it, then choose upload. When it is finished uploading click "Close this window" and then submit your reply

Quoting handy148
Hi Colo

Firtsly I have to learn how you post a chart here.

Second I don't use traditional Candles - I use synergy APB (similar to Renko)
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