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Simple Simon Balance Line Trading

  • #2,221
  • Jul 23, 2011 7:21am Jul 23, 2011 7:21am
Quoting piprac
Several pages back you were successfully scalping the 15M TF. Have you stopped trading that way and trade only longer TFs now? Thanks, p.
Hi Piprac

I have used this on the 15 min time frame for scalping and it worked great. I am not a keen lover of being sat in front of the computer all the time as I kind of did my time being a slave to the computer a long time ago. Until I got involved in this system I only really traded the longer time frames as I liked my free time. If I am spending the day in front of the computer I will still scalp if I can't find anything else and every now and then I always drop to the lower time frames just to keep my hand in. So I do still trade the 15 but would not trade that way all the time.

I hope this helps
Happy trading all. Titch
  • #2,222
  • Jul 23, 2011 9:57am Jul 23, 2011 9:57am
Quoting Titch
Hi Wendavol

I will PM you in the next few days with some suggestions.
Thanks Titch! Looking forward to hearing from you.
  • #2,223
  • Jul 24, 2011 4:49am Jul 24, 2011 4:49am
As I learn the art of trading, this thread has become such an amazing resource to me. Still got heaps more to read through- but thanks to all who have added to my education. Happy trading to all!
  • #2,224
  • Jul 24, 2011 7:35am Jul 24, 2011 7:35am
Please could someone explain me why do this guy chose such positions as good signals to setup.

Please see the attached file.

Thank you!
Attached Image (click to enlarge)
Click to Enlarge Name: acasp.jpg Size: 102 KB
  • #2,225
  • Jul 24, 2011 9:20am Jul 24, 2011 9:20am
Quoting teletrader
Please could someone explain me why do this guy chose such positions as good signals to setup.

Please see the attached file.

Thank you!
Hi teletrader

Not so sure I understand your question.
Happy trading all. Titch
  • #2,226
  • Jul 24, 2011 9:21am Jul 24, 2011 9:21am
Quoting DonnaMag
As I learn the art of trading, this thread has become such an amazing resource to me. Still got heaps more to read through- but thanks to all who have added to my education. Happy trading to all!
Hi DonnaMag

Glad to hear you are enjoying it!
Happy trading all. Titch
  • #2,227
  • Jul 24, 2011 12:34pm Jul 24, 2011 12:34pm
Quoting Titch
Hi teletrader

Not so sure I understand your question.
I mean this guy pointed out several places where he could put your sell stop or buy stop!
How did he make his decision?

Does he count candles?
  • #2,228
  • Jul 24, 2011 12:41pm Jul 24, 2011 12:41pm
Quoting teletrader
I mean this guy pointed out several places where he could put your sell stop or buy stop!
How did he make his decision?

Does he count candles?
Hi teletrader, not sure who's chart it is, who originally posted it. No counting needed, if you draw s/r lines and or trend lines on any chart will make it a lot easier. Also if you look at the rules on page 1 that should make things a lot clearer.

I hope this helps
Happy trading all. Titch
  • #2,229
  • Edited 9:30pm Jul 24, 2011 4:50pm | Edited 9:30pm
[quote=Titch;4805032]Hi teletrader, not sure who's chart it is, who originally posted it. No counting needed, if you draw s/r lines and or trend lines on any chart will make it a lot easier. Also if you look at the rules on page 1 that should make things a lot clearer.

I hope this helps[/quote
]I think that is BigE's training chart posted a few pages back. And Titch is spot on,the entry rules are in Post #1 and spelled out clearly.
Thanks for the response regarding 15M TFs by the way. p.
edit: OOPS - I meant colostarr's chart, not BigE (another thread I follow)
  • #2,230
  • Jul 25, 2011 12:07am Jul 25, 2011 12:07am
I think you are getting confused - BigE is not of this thread.
  • #2,231
  • Jul 25, 2011 1:14am Jul 25, 2011 1:14am
Quoting Titch
Hi netwatchpips

I have marked up your charts as to the way I trade which may make things a bit clearer, you need to be adding S/R lines to your charts as these are one of your most valuable tools as a trader. Although the balance line gives entry signals you need to be looking at other things as well such as S/R levels. A balance line signal may not necessarily constitute a perfect trade signal. Hence why you need to be looking at other things as well.

I hope this makes sense and helps.
Hi Tich,

Thank you for suggesting me on adding S/R to the chart. When i read on S/R there is no one method, each one got its own way of identifying the S/R. Could you please suggest me some websites were i can read more on S/R in detail.

Many Thanks in Advance.

Have a great day.
  • #2,232
  • Jul 25, 2011 5:23am Jul 25, 2011 5:23am
Quoting netwatchpips
Hi Tich,

Thank you for suggesting me on adding S/R to the chart. When i read on S/R there is no one method, each one got its own way of identifying the S/R. Could you please suggest me some websites were i can read more on S/R in detail.

Many Thanks in Advance.

Have a great day.
Hi Netwatchpips

I will pm you in the next few days with some suggestions. I will have a look around to see what is about that is any good as someone else has asked the same thing.

I hope this helps
Happy trading all. Titch
  • #2,233
  • Jul 25, 2011 5:24am Jul 25, 2011 5:24am
Only 3 traders viewing today and there are some great set ups forming!

Oh well!
Happy trading all. Titch
  • #2,234
  • Jul 25, 2011 5:57am Jul 25, 2011 5:57am
USD CHF
Beautiful break from consolidation and retrace to 2 days ago low then continuation.
GBP USD
Perfect trend step trade forming heading to trend line, definitely one to watch when it gets to the trend line.
EUR USD
Same as above
USD JPY
Perfect bounce trade from BL and trend line this morning.
AUD USD
Perfect trend step trade heading towards trend line, one to watch as it hits trend line.
EUR CHF
Beautiful break of trend line and previous days low.

To name but a few

Some good ones to watch
Happy trading all. Titch
  • #2,235
  • Jul 25, 2011 6:09am Jul 25, 2011 6:09am
Titch are you looking at 1 hour time frames?
  • #2,236
  • Jul 25, 2011 6:12am Jul 25, 2011 6:12am
Quoting Jules9
Titch are you looking at 1 hour time frames?
Hi Jules

Sure am looking at the 1 hr, the step trades are showing flat lines and are in sideways range, when they get to trend line then look for the bounce or break signal with the bl and tl. Also keep in mind the s/r of the consolidation high and low
Happy trading all. Titch
  • #2,237
  • Jul 25, 2011 6:44am Jul 25, 2011 6:44am
Titch do you draw your trend lines or have the indicator that does it auto? Could you post one example of step trade to study? Thanks
  • #2,238
  • Jul 25, 2011 6:52am Jul 25, 2011 6:52am
Quoting Jules9
Titch do you draw your trend lines or have the indicator that does it auto? Could you post one example of step trade to study? Thanks
Hi Jules

I always draw trend and support and resistance lines myself as I find them more accurate. Give me 5 mins and I will post as I use a different computer for trading to being on here.
Happy trading all. Titch
  • #2,239
  • Jul 25, 2011 6:56am Jul 25, 2011 6:56am
Thats so much
  • #2,240
  • Jul 25, 2011 7:08am Jul 25, 2011 7:08am
Quoting Titch
Hi Jules

I always draw trend and support and resistance lines myself as I find them more accurate. Give me 5 mins and I will post as I use a different computer for trading to being on here.
You can see on both 4 hr and 1 hr both trend line and support and resistance lines

I hope this helps
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbp usd 1hr.gif Size: 20 KB
Click to Enlarge Name: gbp usd 4hr.gif Size: 22 KB
Happy trading all. Titch
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