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Simple Simon Balance Line Trading

  • #2,101
  • Jul 13, 2011 6:30pm Jul 13, 2011 6:30pm
Quoting mfinab
Hi guys,

Am I the only one trading this system ???

Would like to see others making pips.

Here is another trade ..........See chart

Mfinab,
I've been trading this system on the 4hr charts for about 2 weeks now, and am doing well. I'm using a demo account until I become completely comfortable with trading this system. So far I have had my inital stop hit only twice, and my account is up 40% since starting. I've been using 5:1 leverage per trade. Needless to say, I am happy so far.
  • #2,102
  • Jul 13, 2011 8:32pm Jul 13, 2011 8:32pm
Hi Wendavol,

Thanks for your comments.

Today I made 279 pips!

Only Trading on 1h and 4h chart.

Hope you guys made some good pips too....

See you later, here it's bed time.

Mfinab,
  • #2,103
  • Jul 13, 2011 9:01pm Jul 13, 2011 9:01pm
Lately I've had a couple trades wherein I moved my stop-loss to break even quickly only to be stopped out and missing a big advance. The latest was today's GBPUSD on one hour chart as seen below.

I know it might be frowned upon to not get to break even quickly, but sometimes it can be too quickly. I'll be using a different plan as to when I'll move the stop loss to breakeven.



Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd 7-13.gif Size: 33 KB
  • #2,104
  • Jul 13, 2011 10:29pm Jul 13, 2011 10:29pm
I tried this on demo for 2 weeks, resulting good. Then I tried on my real account for 4 weeks, and unfortunately lose some money in total. I guess my luck is simply not here.

That loss gives me more clarity about what I want from a trading system. If not for that loss perhaps I won't invent my unique trading system that I feel more comfortable with.

So this Simon system actually has value for me. Thanks Simon.

=)
The tone of your words reflects the quality and result of your trading ;-)
  • #2,105
  • Jul 13, 2011 10:56pm Jul 13, 2011 10:56pm
Quoting isaacyassar
I tried this on demo for 2 weeks, resulting good. Then I tried on my real account for 4 weeks, and unfortunately lose some money in total. I guess my luck is simply not here.

That loss gives me more clarity about what I want from a trading system. If not for that loss perhaps I won't invent my unique trading system that I feel more comfortable with.

So this Simon system actually has value for me. Thanks Simon.

=)
Isaac,
Sorry to hear you did not make profit. I have been trading any currency pair that I think shows a good signal on the 4hr charts. Were you using the 4hr charts or were you using shorter time frames? I read on this thread that people are finding the larger time frames have more reliable signals. Good luck in finding what works for you!
  • #2,106
  • Jul 14, 2011 2:43am Jul 14, 2011 2:43am
Quoting mfinab
Hi Wendavol,

Thanks for your comments.

Today I made 279 pips!

Only Trading on 1h and 4h chart.

Hope you guys made some good pips too....

See you later, here it's bed time.

Mfinab,

Congratulation mfinab for your very good day i trade this system on demo since 2 weeks now but at part time so that s why i m not always here !

BTW i m from quebec too
Respect and Honor !
  • #2,107
  • Jul 14, 2011 3:20am Jul 14, 2011 3:20am
Quoting Wendavol
I've been trading this system on the 4hr charts for about 2 weeks now, and am doing well. I'm using a demo account until I become completely comfortable with trading this system. So far I have had my inital stop hit only twice, and my account is up 40% since starting. I've been using 5:1 leverage per trade. Needless to say, I am happy so far.
hello wendavol, very nice result 40% in two weeks is great
what is your average sl on the 4hr chart and what pairs do you trade? all?
i am interesting in this because im gonna trade the 4 chart as well, since i can only trade part time

thanks in advance
edfx
  • #2,108
  • Jul 14, 2011 4:01am Jul 14, 2011 4:01am
Hi,
Anyone tooks AUD/CAD Bounce trade on H1. I took it need to confirm if that is a valid Setup for a bounce trade.
Attached Image (click to enlarge)
Click to Enlarge Name: AUD-CAD H1.JPG Size: 74 KB
  • #2,109
  • Jul 14, 2011 4:05am Jul 14, 2011 4:05am
Just lauch a touch line USDCAD short 1H demo trade at .95808
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad short 1h.gif Size: 19 KB
Respect and Honor !
  • #2,110
  • Jul 14, 2011 4:08am Jul 14, 2011 4:08am
Quoting Klaxon
Just lauch a touch line USDCAD short 1H demo trade at .95808
I took the trade as well. Lets wait and see.
  • #2,111
  • Jul 14, 2011 4:32am Jul 14, 2011 4:32am
Quoting netwatchpips
I took the trade as well. Lets wait and see.
after 13 pips in profit i put it at breakeven and now the market pull back to my BE

let see for others setup
Respect and Honor !
  • #2,112
  • Jul 14, 2011 5:23am Jul 14, 2011 5:23am
Just lauch a demo EURCHF 1H touch short at .15628
Attached Image (click to enlarge)
Click to Enlarge Name: eurchf 1h short.gif Size: 21 KB
Respect and Honor !
  • #2,113
  • Jul 14, 2011 5:44am Jul 14, 2011 5:44am
possible short setup EURGBP 1H, let s see in about 15 minutes
Respect and Honor !
  • #2,114
  • Jul 14, 2011 6:03am Jul 14, 2011 6:03am
Quoting Klaxon
possible short setup EURGBP 1H, let s see in about 15 minutes
I don t think it s a good setup, the price sit right on B line, i prefer to look for another setup
Respect and Honor !
  • #2,115
  • Jul 14, 2011 6:15am Jul 14, 2011 6:15am
Quoting Klaxon
possible short setup EURGBP 1H, let s see in about 15 minutes

Balance line and 50ema are both flat...do not take this trade. Must wait for breakout and then some sort of retracement, either via price action or time
  • #2,116
  • Edited 6:57am Jul 14, 2011 6:37am | Edited 6:57am
Quoting Klaxon
possible short setup EURGBP 1H, let s see in about 15 minutes
Hi Klaxon,

I'm glad to see that I'm not the only one from Quebec

I agree that EUR GBP is too flat. I'm not gonna take this trade.

___________________________________________________________________________________________________

Currently, I have EUR CHF 1H triggered at 1.1549 at -30 pips right now.

A news comes out right after the order.
Here is the news GREEK FIN MIN SAYS THERE IS NO DANGER OF BANKRUPTCY OR OTHER SUCH THREAT

Let's see,

BTW thank you guys sharing your thoughts on this system.

Just want to remind you guys that you really need

1. first to check out if there is news coming ....
2. if the Blue Balance Line or 50ema is flat dont take the trade
3. never risk more than 1% of you account per trade (well you could go little higher if you are very confident on the system)
4. 1H and 4H time frame is the key.
5. Dont jump on a trade only to say I have a trade, be disciplined.

It's only my advises,

Hope Titch or Colostarr will agree with what I'm saying....

I just want anybody making pips too!

Mfinab,
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 20110714-942-95kb.jpg Size: 82 KB
Click to Enlarge Name: 20110714-s8e-84kb.jpg Size: 66 KB
  • #2,117
  • Jul 14, 2011 7:57am Jul 14, 2011 7:57am
I wonder how the migration went for Colostar.
  • #2,118
  • Jul 14, 2011 8:15am Jul 14, 2011 8:15am
Hi!

EUR CHF SL hit.

New signal to go long on that same pair. Also it's breaking 1H trend so I took long signal.... let see. Risk 1% of my account again.
I must carefull it is under the 50ema.

Mfinab,
  • #2,119
  • Jul 14, 2011 8:24am Jul 14, 2011 8:24am
EUR CHF Could bounce again on 1H Time frame 50ema.. check out this trade closely if you are long....

Mfinab,
  • #2,120
  • Jul 14, 2011 10:14am Jul 14, 2011 10:14am
Quoting Edfx
hello wendavol, very nice result 40% in two weeks is great
what is your average sl on the 4hr chart and what pairs do you trade? all?
i am interesting in this because im gonna trade the 4 chart as well, since i can only trade part time

thanks in advance
edfx
My average stop loss is probably 50-100 pips. Make sure you trade an appropriate number of lots so you don't risk too much of your account balance. I trade almost all of the pairs. I enter trades from 8:00am EST to 8:00pm EST. I use an EA to manage my trades so I only need to look at my account about 4 times a day.
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