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Simple Simon Balance Line Trading

  • #1,381
  • Jun 27, 2011 8:12am Jun 27, 2011 8:12am
Yes Jules I do trade this method live. My lot size is generally based on the risk per trade, and the distance to the stop level. I risk 5% per trade, but generally my lot sizes are .6 to .7 full lots per trade.

Quoting Jules9
Colosterr if this is too personal you dont have to respond. Do you trade live money and what lot sizes do you usally do if so.
  • #1,382
  • Jun 27, 2011 8:15am Jun 27, 2011 8:15am
Quoting Colostarr
Yes Jules I do trade this method live. My lot size is generally based on the risk per trade, and the distance to the stop level. I risk 5% per trade, but generally my lot sizes are .6 to .7 full lots per trade.
Hi Rick

I have just sent you an email

Great idea

I have also just posted on here about doing the live chat on fb.

Neil
Happy trading all. Titch
  • #1,383
  • Jun 27, 2011 8:25am Jun 27, 2011 8:25am
We don't PROSPECT trade -we dont use TP levels Gunner.

Please refrain from these type posts

Quoting forexgunner
yeah jules Its a prospect trade on eurusd when price gets there
  • #1,384
  • Jun 27, 2011 8:26am Jun 27, 2011 8:26am
Pipdude while I appreciate and value your input, lets leave it at the 15TF and 1H. Thanks Brother!

Quoting pipdude
thanks colostarr.

i've also been getting some good entries using the eurusd 5m chart today, but i don't know, if you want me posting those. you have to know where and when to enter a triggered trade, because there are a lot more signals.
  • #1,385
  • Jun 27, 2011 8:28am Jun 27, 2011 8:28am
Just got back in Titch - saw the e-mail haven't gotten to it yet! Thank you!

Quoting Titch
Hi Rick

I have just sent you an email

Great idea

I have also just posted on here about doing the live chat on fb.

Neil
  • #1,386
  • Jun 27, 2011 8:31am Jun 27, 2011 8:31am
Quoting Colostarr
Just got back in Titch - saw the e-mail haven't gotten to it yet! Thank you!
I'm just off out to pick charlie up will let you know when I am back.
Happy trading all. Titch
  • #1,387
  • Jun 27, 2011 8:33am Jun 27, 2011 8:33am
Quoting Titch
Hi all
I am sure you are all aware that colo and I have set up a facebook page for the Simple Simon method.
Link
http://www.facebook.com/pages/Simple...40230812655376
If you go to this page and then click on the members area link you can join the members area, it's free so give it a try.
In the members area we can hold group chats and I test drove it last friday and it worked well.
We have had several requests from new traders about doing a webinair. What I am planning to do if there is enough interest is one...
Anyone interested in our live chat please check out post 1380
Happy trading all. Titch
  • #1,388
  • Jun 27, 2011 8:33am Jun 27, 2011 8:33am
USDCHF 15 tf - closed on stop at +15 pips

EURAUD 4H - +30 pips locked currently at +46 (trying to get back the 90 it stole from me last week!)
USDCAD 15tf - stopped out -15 pips

USDJPY 15tf - Closed on my own at + 10 pips

4 trades taken 3 winners = currently at +40 pips
  • #1,389
  • Jun 27, 2011 8:37am Jun 27, 2011 8:37am
Damn - just looked in my account history. I completely forgot about the NZDUSD trade I initiated Friday and closed this morning (at 0430!) for +72 pips!

All in all not a bad trading day!

Quoting Colostarr
USDCHF 15 tf - closed on stop at +15 pips

EURAUD 4H - +30 pips locked currently at +46 (trying to get back the 90 it stole from me last week!)
USDCAD 15tf - stopped out -15 pips

USDJPY 15tf - Closed on my own at + 10 pips

4 trades taken 3 winners = currently at +40 pips
  • #1,390
  • Jun 27, 2011 8:44am Jun 27, 2011 8:44am
EURAUD just spiked to +60

now have +40 locked in
Attached Image (click to enlarge)
Click to Enlarge Name: euraud.gif Size: 18 KB
  • #1,391
  • Jun 27, 2011 9:03am Jun 27, 2011 9:03am
GPPUSD triggered long 1hr
  • #1,392
  • Jun 27, 2011 9:38am Jun 27, 2011 9:38am
Hello. My 1st post on this thread.
Looking at GU/US 1H.
1.) would you guys say that current price situation is heading into range ? If yes then NO setting Long trade.
2.) I am a little confused about the ma50 ... I understand it's function but not sure in it's best application in lieu with the rules. (Not part of orig. posted rules in introductory post... unless I missed it).
If we disregard the "price ranging" (or at least the beginning of it) would you wait with setting Buy Stop until the current candle closes above the ma50?
Note that it is already closed above the "Blue Line Balance" hence the valid signal.
Will try to attach the chart... hope it works.
Attached Image (click to enlarge)
Click to Enlarge Name: gu1h.gif Size: 26 KB
  • #1,393
  • Jun 27, 2011 9:41am Jun 27, 2011 9:41am
In on that GPD/USD. Where is your stopp loss? Just making sure I am right with mine.
  • #1,394
  • Jun 27, 2011 9:47am Jun 27, 2011 9:47am
Just moved to B/E at 10:47 EST. Unfortunately, since I'm a junior member, my posts are quite a bit late.

Quoting Jules9
In on that GPD/USD. Where is your stopp loss? Just making sure I am right with mine.
  • #1,395
  • Jun 27, 2011 9:50am Jun 27, 2011 9:50am
Quoting paqtrade
GPPUSD triggered long 1hr
bro whats your TP on this? scored 20 pips on it locked in SL
  • #1,396
  • Jun 27, 2011 9:58am Jun 27, 2011 9:58am
Afternoon guys, interesting one this,
breaks past balance, breaks 50ma all be it on same candle for now, if it breaks daily pivot, could see a nice run up, but still a strong down trend at present, this to me is where patience comes in

respect

Tom
Attached Image (click to enlarge)
Click to Enlarge Name: gbus.gif Size: 19 KB
  • #1,397
  • Jun 27, 2011 10:14am Jun 27, 2011 10:14am
Not using a TP, got 10 locked in. Looks like it's about ready to get stopped out though. Trailed a 20 pip stop

Quoting zelandia
bro whats your TP on this? scored 20 pips on it locked in SL
  • #1,398
  • Jun 27, 2011 10:16am Jun 27, 2011 10:16am
Stopped out +10

Quoting paqtrade
Not using a TP, got 10 locked in. Looks like it's about ready to get stopped out though. Trailed a 20 pip stop
  • #1,399
  • Jun 27, 2011 10:26am Jun 27, 2011 10:26am
Hi Colostarr and all,

Looks like you guys have a great thread going here. I have subscribed and will follow along.

Kurt
  • #1,400
  • Jun 27, 2011 10:33am Jun 27, 2011 10:33am
Quoting paul56
Hello. My 1st post on this thread.
Looking at GU/US 1H.
1.) would you guys say that current price situation is heading into range ? If yes then NO setting Long trade.
2.) I am a little confused about the ma50 ... I understand it's function but not sure in it's best application in lieu with the rules. (Not part of orig. posted rules in introductory post... unless I missed it).
If we disregard the "price ranging" (or at least the beginning of it) would you wait with setting Buy Stop until the current candle closes above the ma50?
Note that...
I just thought I'd throw my 2 cents into why I did not take this trade.

1. The buy stop was under the 50ema, so I was expecting a bounce down at that point.

2. I could take a buy stop 3 pips plus the spread above the 50 ema, but at that point I would be 27 pips above the balance line ...too far away for me.

3. Additionally, it is coming to that time of day when things seem to quiet down and go sideways.

4.There is also some consolidated resistance that would be needed to overcome.

5.Lastly, I took the EURGBP buy on the 1 hour chart just before that, so I was expecting the GBP to go down on that basis as well.

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd 6-27.gif Size: 32 KB
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