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EJ_4H method

  • #101
  • Apr 23, 2006 6:51am Apr 23, 2006 6:51am
Quoting eurusdtrader
Hello Kids,

1- Read the first post again for instructions (this may help some newbies that have problems in setting up the method)

2- PROPER ENTRY: this is what we will work at least 6 months to find out how to entry properly.

3- About discussing trades by this method I agree, maybe this will help you to get closer to the method, but don't start another thread please, this may diversify the efforts.

4- I will cover how to trail the price, how to book your profits, how to manage your account and positions, how to minimize the risk, but friends all these will take its proper time, so don't hurry, I do not expect that you trade excellent at this time by this method, just if you use the best entry setup you are the best student.

5- You should keep it simple, don't try to enter more indicators to support some aspects, all aspects that you can not find at the time being, will be discussed in future.

6- Please forget pips/day, at least say pips/week. With this mehtod you are aiming intellectual targets like 100 pips, so don't think that you can seize 20 pips per day, try to trade one time a week but profitably and with less stress., expend the rest of your time to enjoy the life. If you can make 100 pips consistently per week I will show you that you will be a millionaire just in 2 years. So don't try to make more and more with working 24/7. This is not the way.

7- The methos of 34 EMA is working on M30 chart so please read number 9 below.

8- If you find or think of something usefull with this method (like indicators, tricks, templates and so on) before posting, please send me a private email describing your opinion and I will try it before publishing to avoid wasting the time of kids and perturbing their learning.

9- If you want that I shorten your way to win at least one year just please bear in mind that :

A)All indicators in MT4 and most of custom indicators are useless, just some of them with their special setting are a bit of help; so don't waste your time to discover a magic from them. I just like Ichimoku because it is really predict the potential supports/resistances.

B)Don't strive to trade smaller time frame than H4.

All these were my personal opinions, I am maybe mistaken, I just told my own oipnions with all respects.

Happy trading
Ibo

Thank IBO...all great points:

I think I am all set with the chart set-up…

The daily chart analysis of a few pairs would be great so that we can learn from you and each others in a step by step by step manner. Constant daily analysis will over time allow us to perfect this system and enhance our trading and lifestyle.

I will suggest the following: GBP/USD, USD/CHF, and I am open for a third pair: perhaps a cross such as EUR/GBP or EUR/CHF…or a more volitle pair such as GBP/JPY or GBP/CHF.

I am excited and look forward to leaning more and studying this method.

Thanks Again,

Mike
  • #102
  • Edited 12:42pm Apr 23, 2006 11:41am | Edited 12:42pm
Quoting ForexMike
Thank IBO...all great points:

I think I am all set with the chart set-up…

The daily chart analysis of a few pairs would be great so that we can learn from you and each others in a step by step by step manner. Constant daily analysis will over time allow us to perfect this system and enhance our trading and lifestyle.

I will suggest the following: GBP/USD, USD/CHF, and I am open for a third pair: perhaps a cross such as EUR/GBP or EUR/CHF…or a more volitle pair such as GBP/JPY or GBP/CHF.

I am excited and look forward to leaning more and studying this method.

Thanks Again,

Mike
Ibo,

From a sheer technical point of view, it looks like the USD bulls may be in line to take another run at buying up the dollar on Monday. EUR/USD and GBP/USD both show as overbought in the 4H and Daily stochastics and the price action looks to be retracing downward again. Same situation for the other USD pairs.

Fundamentally, however, given that the interest-rate differential of the USD is steadily waning, that several countries (including Switzerland most recently) are divesting themselves of the dollar as the primary denomination of their currency reserves, and that the general macroeconomic health of the US seems to be less assured every day, I wonder how long even minor USD bullishness can last. The overriding trend is definitely bearish the dollar in my opinion.

Ibo - What is your view on using technicals vs. fundamentals with the EJ_4H method? Do you integrate fundamentals within your trading or do you just let the price action dictate your trades 100%? What about big news releases - do you close out of your positions beforehand or just ride the storm?

Thanks in advance,

Ian
  • #103
  • Apr 23, 2006 12:59pm Apr 23, 2006 12:59pm
Dear Traders,

Fundamental aspects will be covered on time, at the time shortly I should tell you that forget them totally, Just for some being preserved don't enter a trade if there is a very important news on the way to be aired or take a very preserving risk management if you have some positions on.

I have a suggestion about discussing daily trading oportunities or comments or forecast, I think it is better that if any member like to talk about such issues color-code it by dark blue (or another common agreed color)

I see that many of kids are so eager to talk about taking positions and talking about them, I took gbp and audusd (short) and booked them with 0 and -15 pips, still gbp and eur has lower sentiment but this is business and price is king, I prefered to wait and see what is the price action on Monday. So your short trades on eur and gbp were right decisions, you have gotten right direction, but there are many times that market completely act contrary to the consensus.

Rgds
Ibo
  • #104
  • Edited 5:29pm Apr 23, 2006 4:21pm | Edited 5:29pm
Quoting eurusdtrader
Dear Traders,

Fundamental aspects will be covered on time, at the time shortly I should tell you that forget them totally, Just for some being preserved don't enter a trade if there is a very important news on the way to be aired or take a very preserving risk management if you have some positions on.

I have a suggestion about discussing daily trading oportunities or comments or forecast, I think it is better that if any member like to talk about such issues color-code it by dark blue (or another common agreed color)

I see that many of kids are so eager to talk about taking positions and talking about them, I took gbp and audusd (short) and booked them with 0 and -15 pips, still gbp and eur has lower sentiment but this is business and price is king, I prefered to wait and see what is the price action on Monday. So your short trades on eur and gbp were right decisions, you have gotten right direction, but there are many times that market completely act contrary to the consensus.

Rgds
Ibo
Sounds good IBO blue it is…and Ian, I agree with your assessment…I think the underlying dollar confidence is likely to remain weaker with increased concerns over the structural deficits. Therefore, I am bearish the dollar, and Bullish on the Pound, CAD, and AUD over the near term.


Mike
  • #105
  • Apr 24, 2006 3:26am Apr 24, 2006 3:26am
Quoting Lindsay
I THINK A CHART ANALYSIS SECTION WOULD BE A GREAT IDEA BUT PERHAPS WE COULD HANDLE 3 PAIRS, SAY GBPUSD, USDCHF AND PERHAPS FOR SOMETHING WITH A DIFFERENT PERSONALITY THE EURGBP.
I HAVE SET MY CHARTS UP WITH THE SAME INDICATORS AS YOU HAVE PLUS THE FFTUNNEL 3.1. I HOPE THIS HELPS.
Hello Everyone

In response to the above quote, I have set up a thread (http://www.forexfactory.com/forexfor...ead.php?t=5048) for us to discuss EJ's 4Hour Method. Hope this helps in getting a better understanding of this good trading method.

Happy Trading All
MM
The greatest achievements are those that benefit others....
  • #106
  • Apr 24, 2006 5:22am Apr 24, 2006 5:22am
Thanks Euro for a great system.
When you say update Monthly Weekly
Daily 4H and 1H, Do you mean set up
new charts for the above or move the
curser?
Senbanda
  • #107
  • Apr 24, 2006 6:05am Apr 24, 2006 6:05am
3- About discussing trades by this method I agree, maybe this will help you to get closer to the method, but don't start another thread please, this may diversify the efforts.
mmbmusa, read above what Ibo asked us about. cheers
  • #108
  • Apr 24, 2006 8:10am Apr 24, 2006 8:10am
Hello all

- In MT4 each chart/time frame is updated when you are watching. You can just click the buttons of time frames toolbar simply, e.g. id you want to update hourly chart you should click on H1.

- MM, my brother, please do me and the kids a favor and stop the thread, I really can not concentrate, like members.

Cheers,
Ibo
  • #109
  • Apr 24, 2006 8:15am Apr 24, 2006 8:15am
Would everyone like me to delete the other thread? Thanks Scott

In the mean time, I will move it to the classified for safe keeping... Scott


Quoting eurusdtrader
Hello all

- In MT4 each chart/time frame is updated when you are watching. You can just click the buttons of time frames toolbar simply, e.g. id you want to update hourly chart you should click on H1.

- MM, my brother, please do me and the kids a favor and stop the thread, I really can not concentrate, like members.

Cheers,
Ibo
  • #110
  • Apr 24, 2006 9:02am Apr 24, 2006 9:02am
Hi could better describe stop loss above higher high- which higher high the bar one before magenta?
BJ
  • #111
  • Apr 24, 2006 12:51pm Apr 24, 2006 12:51pm
Ibo, if i want to see both daily and weekly PP on the same chart, how can i do this? If i am applying your indicator twice, it looks like they are cancelling each other. thanks.
  • #112
  • Apr 24, 2006 1:15pm Apr 24, 2006 1:15pm
Quoting eurusdtrader
Hello all

- In MT4 each chart/time frame is updated when you are watching. You can just click the buttons of time frames toolbar simply, e.g. id you want to update hourly chart you should click on H1.

- MM, my brother, please do me and the kids a favor and stop the thread, I really can not concentrate, like members.

Cheers,
Ibo
HI Eurusdtrader,

Thanks for the quote above, thread moved/deleted.

MM
The greatest achievements are those that benefit others....
  • #113
  • Apr 24, 2006 8:19pm Apr 24, 2006 8:19pm
Ibo,

I have not checked this thread for awile, and saw you posted the 2 new zip files on the very first POST.

I am now confused as to how to what goes where?

If you can post what goes where and with examples please, and for the newbies also..

thanks
"We are the superior beings, we obey no one!"
  • #114
  • Apr 24, 2006 8:54pm Apr 24, 2006 8:54pm
Just to be safe, you can copy and paste everything into the "indicators" folder and make the same paste into the "template" folder ... that way you won't be missing anything.
  • #115
  • Apr 24, 2006 11:04pm Apr 24, 2006 11:04pm
Can you explain stopp loss- I learn trade
BJ
  • #116
  • Apr 24, 2006 11:05pm Apr 24, 2006 11:05pm
Hello

MM' I thank you on behalf of all members and thank you for your kindness.

bigballer, I am sorry, I updated the first post again for some new notes. All members please check this post after my notifications.

A very short approach to placing stop loss will be posted utmost in 12 hrs.

Have a nice day,
Ibo
  • #117
  • Apr 24, 2006 11:17pm Apr 24, 2006 11:17pm
I think You should think to be ready for reselling EUR, GBP, there is a good potential but a breakdown will confirm, in case of falling. I think we will have 2 days of good-ranged swoon. But the momentum to go higher is still exist.
  • #118
  • Apr 24, 2006 11:34pm Apr 24, 2006 11:34pm
Thank you Ibo.

I would suggest you do a new thread with Trade history.

We can follow your trades and make money together.

thanks
"We are the superior beings, we obey no one!"
  • #119
  • Apr 25, 2006 1:19am Apr 25, 2006 1:19am
Hi everybody,

bigballer thanks for your suggestion, but as most of members were agreed with me, we preferably never start another group. I am sure this work will just distract us especially new members.

I have received many emails demanding a signal sending service, friends, I know that there are many sites related to known associations/brokers that offer forex learning up to 2k and at least $500 and give you just some fruitless documents of very old indicators and general rules. I know that they offer you indicators that never has a good performance for hundreds of dollars. I am thinking about this matter that provide a signal service that needs an update just one time each 24hr. If I made a solid decision I will tell you in advance, but I think it will take time. At that service I should provide an online sessions to tell very detailed tricks. When I use tricks, it is not a secret, it is all about what all traders have in hand but some can filter the misleading aspect and extract proper views and some can not.

Still I am not sure that I will discuss at all about the current situation of the market and opportunities or not. I afraid that this may not help you and harm your self-confidence, but I know that you should have trainers/teachers for all your life's aspects.

If you have any discussion about this matter, please send me a message or a private email.

Happy trading
Ibo
  • #120
  • Apr 25, 2006 1:34am Apr 25, 2006 1:34am
Hi Ibo

I think teaching people to trade for themselves has far more value than any signal service, once someone has learned the trading they do it for themselves, signals are always from someone else and you still need the discipline to follow the signals anyway.
Good giving out the fantastic information you are giving and I think alot of people will be happy and eventually very wealthy.
The above of coarse is just my oppinion.

Happy learning and happy trding to all.


Quoting eurusdtrader
Hi everybody,

bigballer thanks for your suggestion, but as most of members were agreed with me, we preferably never start another group. I am sure this work will just distract us especially new members.

I have received many emails demanding a signal sending service, friends, I know that there are many sites related to known associations/brokers that offer forex learning up to 2k and at least $500 and give you just some fruitless documents of very old indicators and general rules. I know that they offer you indicators that never has a good performance for hundreds of dollars. I am thinking about this matter that provide a signal service that needs an update just one time each 24hr. If I made a solid decision I will tell you in advance, but I think it will take time. At that service I should provide an online sessions to tell very detailed tricks. When I use tricks, it is not a secret, it is all about what all traders have in hand but some can filter the misleading aspect and extract proper views and some can not.

Still I am not sure that I will discuss at all about the current situation of the market and opportunities or not. I afraid that this may not help you and harm your self-confidence, but I know that you should have trainers/teachers for all your life's aspects.

If you have any discussion about this matter, please send me a message or a private email.

Happy trading
Ibo
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