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Simple and profitable forex strategy

  • #1
  • First Post: Edited Sep 13, 2011 8:21pm Sep 12, 2011 10:31pm | Edited Sep 13, 2011 8:21pm

Hello friends,

I have been trading quite profitably for last 2 years. Before that almost 6 years was very painful.

Very recently I started publishing my trades and methology in a blog.

Interested people may wish to have a look here. The most simple profitable forex trading method


Thanks.

  • #2
  • Sep 13, 2011 9:47am Sep 13, 2011 9:47am
can u pls write some thing about ur system? and what time frame u trade?
Trade responsiblypatience is the key/Swing trader
  • #3
  • Sep 13, 2011 8:20pm Sep 13, 2011 8:20pm
Its all about identifying S/R sports and then follow the price action to go with the newly developed trend.

Time frame DAILY only, anything below that is too noisy.

Cheers.
  • #4
  • Sep 14, 2011 6:15pm Sep 14, 2011 6:15pm
On 14/9 USD/JPY broke a crucial support and closed below 76.75.

Waiting for a retesting of that level and subsequent price action to initiate a trade.

Cheers and happy trading.

www.forexmadeeasier.blogspot.com
  • #5
  • Sep 14, 2011 6:17pm Sep 14, 2011 6:17pm
Are you actually going to share? or are you spamming us with your blog?
  • #6
  • Sep 14, 2011 9:23pm Sep 14, 2011 9:23pm
Quoting triptizine
Are you actually going to share? or are you spamming us with your blog?
What else is there to share?

Everything is written how the trade is taken and progressing. Please take some time to read.
  • #7
  • Sep 15, 2011 8:24pm Sep 15, 2011 8:24pm
16/9/2011: On 15/9, USD/JPY price retested this support level 76.75 (which became now resistance level also) but closed below it at 76.69.

Short position opened at 76.69 with 0.43 lots.

Stoploss at previous resistance point 77.90 with profit target at next immediate support level at 76.45

More details at www.forexmadeeasier.blogspot.com
  • #8
  • Sep 18, 2011 11:10am Sep 18, 2011 11:10am
Hi there congrats on your new journal and blog.

I would encourage you to get myfxbook.com or fxstats.com to help you in making detailed analysis of your trades. You have the option to publish your results to the public or just for your own eyes.
  • #9
  • Sep 19, 2011 6:09pm Sep 19, 2011 6:09pm
Quoting ValgtanFX
Hi there congrats on your new journal and blog.

I would encourage you to get myfxbook.com or fxstats.com to help you in making detailed analysis of your trades. You have the option to publish your results to the public or just for your own eyes.
Thanks...I will check those sites.

But please note that this thread is not meant to prove the absolute profit or loss but to give a general idea of this sort of trading method which is easy to follow and understand the price actions.
  • #10
  • Sep 19, 2011 6:09pm Sep 19, 2011 6:09pm
19/9/2011: SL and TP levels have been changed due to new S/R level formations.

The SL is now at 77.30, high of 15/9 and the new TP is at 76.55, low of 15/9.

The trade reached profit target at 76.55. A gain of 7.8 pips and $43.79.

Net position in USD/JPY: $220.18
  • #11
  • Sep 19, 2011 6:10pm Sep 19, 2011 6:10pm
19/9/2011: On 08/9 USD/CAD formed a support at day's low of 0.9828. On 16/9 it broke that support and closed below. But on 19/9 it retested that level and closed above at 0.9905. A buy trade with 0.45 lots opened at 0.9901 with stop loss at that support level 0.9828 and a profit target at previous resistance at 0.9948 (the daily high of 15/9).
  • #12
  • Sep 20, 2011 4:12am Sep 20, 2011 4:12am
Quoting antariks
19/9/2011: On 08/9 USD/CAD formed a support at day's low of 0.9828. On 16/9 it broke that support and closed below. But on 19/9 it retested that level and closed above at 0.9905. A buy trade with 0.45 lots opened at 0.9901 with stop loss at that support level 0.9828 and a profit target at previous resistance at 0.9948 (the daily high of 15/9).

Hello, antariks,

If the candle "16/9" broke the support and closed below why then you didn't short?

Thanks,
Donatas
  • #13
  • Sep 20, 2011 10:29pm Sep 20, 2011 10:29pm
Quoting BaliuxXx
Hello, antariks,

If the candle "16/9" broke the support and closed below why then you didn't short?

Thanks,
Donatas
Yeah it broke the support but I generally prefer to wait for retesting of that level again and subsequent price action, just for an extra confirmation.

Cheers.
  • #14
  • Sep 21, 2011 1:11am Sep 21, 2011 1:11am
Quoting antariks
Yeah it broke the support but I generally prefer to wait for retesting of that level again and subsequent price action, just for an extra confirmation.

Cheers.
thanks,
if it would be going down without retesting that support, you would just skipped that trade?

Donatas
  • #15
  • Sep 21, 2011 2:40am Sep 21, 2011 2:40am
Quoting BaliuxXx
thanks,
if it would be going down without retesting that support, you would just skipped that trade?

Donatas
Probably yes.....it would be wiser to be cautious and not to be fooled by big players.
  • #16
  • Edited 5:09am Sep 21, 2011 2:48am | Edited 5:09am
Quoting antariks
19/9/2011: On 08/9 USD/CAD formed a support at day's low of 0.9828. On 16/9 it broke that support and closed below. But on 19/9 it retested that level and closed above at 0.9905. A buy trade with 0.45 lots opened at 0.9901 with stop loss at that support level 0.9828 and a profit target at previous resistance at 0.9948 (the daily high of 15/9).

21/9/2011: The profit target of 0.9948 reached with a net gain of 47 pips and $205.

Net position in USD/CAD: $1417.49
  • #17
  • Edited 5:07am Sep 21, 2011 2:49am | Edited 5:07am
21/9/2011: Last immediate support level was daily low of 14/9 at 1.5705. On 19/9, price closed below this, on 20/9 it retested this level but closed above this.

A buy trade with 0.5 lot initiated at the close of 20/9 at 1.5731 with stop loss at 1.5631 (low of 19/9) and profit target at immediate resistance at 1.5866 (high of 15/9).

The trade touched stoploss with a net loss of $495 and 100 pips.

Net position on GBP/USD: -$195.00
  • #18
  • Sep 21, 2011 3:01am Sep 21, 2011 3:01am
How far are you looking for the levels? Are you looking at s/r wich was formed i.e. a month ago? Or just a couple of last levels?

thanks,
Donatas
  • #19
  • Sep 23, 2011 1:42am Sep 23, 2011 1:42am
Quoting BaliuxXx
How far are you looking for the levels? Are you looking at s/r wich was formed i.e. a month ago? Or just a couple of last levels?

thanks,
Donatas
Please see my next post.
  • #20
  • Sep 23, 2011 1:43am Sep 23, 2011 1:43am
24/09/2011: This pair formed a support at 103.91 on 19/9 and broke below this level on 21/9.

On 22/9 it retested this level but again further closed below at 102.62.

A short position with 0.19 lots was opened with a stoploss at immediate resistance at 105.29 but no profit target yet established because there in no immediate support level below this point. Will decide further as the support forms.
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