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Simple Simon Balance Line Trading

  • #2,301
  • Feb 10, 2012 7:09pm Feb 10, 2012 7:09pm
Hi
I only came across this method a few days ago.
I missed a beaut trade yesterday.
Attached Image (click to enlarge)
Click to Enlarge Name: Missed a Beauty.jpg Size: 95 KB
Our IMAGINATION is the true holy grail!
  • #2,302
  • Apr 18, 2012 11:55pm Apr 18, 2012 11:55pm
Wow, just come across this thread and I am very impressed to say the least... I hope we can keep tjis thread running.
Would love to contrubut and use it as a running log with others.
  • #2,303
  • Apr 24, 2012 4:35pm Apr 24, 2012 4:35pm
Anybody still trading this method as it is actually a great system as I trade something similar, and if any of you guys are still around let's give this thread another boost and help each other.

George
Low Risk Low Stress High Reward High Probability Trades
  • #2,304
  • Apr 24, 2012 6:36pm Apr 24, 2012 6:36pm
Kiwi trade setup, and pending order placed and will wait for the market to decide.
Attached Image (click to enlarge)
Click to Enlarge Name: bal line trade setup - 4242012.jpg Size: 136 KB
Low Risk Low Stress High Reward High Probability Trades
  • #2,305
  • Apr 24, 2012 6:56pm Apr 24, 2012 6:56pm
These are 2 trade setups in AUDJPY & NZDJPY that happened within the last 4 - 5 hours and already in profit.

George
Attached Image(s) (click to enlarge)
Click to Enlarge Name: bal line nj trade setup - 4242012.jpg Size: 136 KB
Click to Enlarge Name: bal line aj trade setup - 4242012.jpg Size: 137 KB
Low Risk Low Stress High Reward High Probability Trades
  • #2,306
  • Apr 24, 2012 8:00pm Apr 24, 2012 8:00pm
Trade closed for 13.7 pip loss.

The flat ADX did signify that there was no momentum at the moment, and I will try again during the London & U.S. sessions

George

Quoting 919gilead
Kiwi trade setup, and pending order placed and will wait for the market to decide.
Low Risk Low Stress High Reward High Probability Trades
  • #2,307
  • Apr 24, 2012 10:57pm Apr 24, 2012 10:57pm
Quoting 919gilead
Anybody still trading this method as it is actually a great system as I trade something similar, and if any of you guys are still around let's give this thread another boost and help each other.

George
Yes let's get it going, I just bought a book called "$1000 to 1 Million in 80 days"
Maybe if we can get this thread resurrected or start a new one we can combine both and put together a trade log at the same time.
So with the book, obviously to achieve this kind of money in that period, it's all about compounding.
  • #2,308
  • Apr 24, 2012 11:09pm Apr 24, 2012 11:09pm
Quoting 919gilead
Trade closed for 13.7 pip loss.

The flat ADX did signify that there was no momentum at the moment, and I will try again during the London & U.S. sessions

George
I think we are to take the lower time frames such as the 1 hour we have to think about locking in our trade as soon as possible, this system can whip around a bit sometimes.
  • #2,309
  • Apr 25, 2012 6:22am Apr 25, 2012 6:22am
Good morning DapperDan, and I'm glad I have a partner here. So let's do it

Quoting DapperDan59
Yes let's get it going, I just bought a book called "$1000 to 1 Million in 80 days"
Maybe if we can get this thread resurrected or start a new one we can combine both and put together a trade log at the same time.
So with the book, obviously to achieve this kind of money in that period, it's all about compounding.
Low Risk Low Stress High Reward High Probability Trades
  • #2,310
  • Apr 25, 2012 6:26am Apr 25, 2012 6:26am
I agree with you and should have taken the little profit when I noticed the ADX hanging down, and the currency strength meter showing exchange of power between the NZD & USD.

Anyway, I am just waking up and looking over my charts to see what is cooking. The dashboard shows few pairs in the vicinity of the balance line; and will take a look.

Quoting DapperDan59
I think we are to take the lower time frames such as the 1 hour we have to think about locking in our trade as soon as possible, this system can whip around a bit sometimes.
Low Risk Low Stress High Reward High Probability Trades
  • #2,311
  • Apr 25, 2012 7:20am Apr 25, 2012 7:20am
Quoting 919gilead
I agree with you and should have taken the little profit when I noticed the ADX hanging down, and the currency strength meter showing exchange of power between the NZD & USD.

Anyway, I am just waking up and looking over my charts to see what is cooking. The dashboard shows few pairs in the vicinity of the balance line; and will take a look.
Yeah have had one loss tonight on the EUR... Which I might ad is not from the system, so I am only sticking to the system now.

Still in a USDJPY trade... Short from 81.090. This is from a cross on the blue on a 4hr chart... I am only speaking out a loud at the moment but I would like to slow things down a bit and trade only the 4hr time frame, what do you think?
  • #2,312
  • Apr 25, 2012 7:37am Apr 25, 2012 7:37am
http://clip2net.com/clip/m82923/thum...clip-200kb.jpg

Here is an update of the entry on the USDJPY trade tonight. In with 2 mini lots.
  • #2,313
  • Apr 25, 2012 7:38am Apr 25, 2012 7:38am
There is no perfect system, so loss is to be expected and I will stick with the H1 TF and of course if you get a signal on the H4 TF, it probably will reflect on the H1 too.

I will trade this system in conjunction with currency strength & weakness and right now, I can't find any currency with any serious edge over the other. So I will wait until after the FOMC statement and rate announcement.

Cheers

Quoting DapperDan59
Yeah have had one loss tonight on the EUR... Which I might ad is not from the system, so I am only sticking to the system now.

Still in a USDJPY trade... Short from 81.090. This is from a cross on the blue on a 4hr chart... I am only speaking out a loud at the moment but I would like to slow things down a bit and trade only the 4hr time frame, what do you think?
Low Risk Low Stress High Reward High Probability Trades
  • #2,314
  • Apr 25, 2012 7:42am Apr 25, 2012 7:42am
Quoting 919gilead
There is no perfect system, so loss is to be expected and I will stick with the H1 TF and of course if you get a signal on the H4 TF, it probably will reflect on the H1 too.

I will trade this system in conjunction with currency strength & weakness and right now, I can't find any currency with any serious edge over the other. So I will wait until after the FOMC statement and rate announcement.

Cheers
Yeah I think every one is waiting on the side until that announcement!!
  • #2,315
  • Apr 25, 2012 2:26pm Apr 25, 2012 2:26pm
Good stuff. I sometimes enter trades based on this system. Glad to see people are still using it.
  • #2,316
  • Apr 25, 2012 6:28pm Apr 25, 2012 6:28pm
Quoting Good Lookin
Good stuff. I sometimes enter trades based on this system. Glad to see people are still using it.
I'm trying to incorporate more the Bill Williams side of trading which this actually comes from.. my USDJPY trade last night was a loss... moving on.
  • #2,317
  • Apr 25, 2012 7:18pm Apr 25, 2012 7:18pm
I am trying a filter method I will share if success in trading this method, and it is using the currency strength meter (CSM) for entry confirmation by trading only strong against weak currencies. When price gets to the BL, I will only take the trade if I get a CSM confirmation, otherwise I will pass. If you don't have a CSM, there are many free copies online and you can search and download from FF too.

Let's also create an active community here and share trade ideas as this way we can avoid premature entries and/or get second opinion. A Skype chat room may be a great start as everyone will receive instant notification unlike FF that lags and sometimes you don't get some notifications, and supporting charts can be posted on FF.

Just my one cent

Cheers,

George

Quoting DapperDan59
I'm trying to incorporate more the Bill Williams side of trading which this actually comes from.. my USDJPY trade last night was a loss... moving on.
Low Risk Low Stress High Reward High Probability Trades
  • #2,318
  • Apr 25, 2012 7:42pm Apr 25, 2012 7:42pm
Quoting 919gilead
I am trying a filter method I will share if success in trading this method, and it is using the currency strength meter (CSM) for entry confirmation by trading only strong against weak currencies. When price gets to the BL, I will only take the trade if I get a CSM confirmation, otherwise I will pass. If you don't have a CSM, there are many free copies online and you can search and download from FF too.

Let's also create an active community here and share trade ideas as this way we can avoid premature entries and/or get second opinion. A Skype...
Ok, not a bad idea George, we will se how things go between us for the moment befire we expand into it.... I do have SKYPE already and it is good for this kind of use, esspecially when you can share screen for indications and teaching..
  • #2,319
  • Apr 25, 2012 7:53pm Apr 25, 2012 7:53pm
Great DapperDan. Skype id is Gilead919

Quoting DapperDan59
Ok, not a bad idea George, we will se how things go between us for the moment befire we expand into it.... I do have SKYPE already and it is good for this kind of use, esspecially when you can share screen for indications and teaching..
Low Risk Low Stress High Reward High Probability Trades
  • #2,320
  • Apr 25, 2012 7:56pm Apr 25, 2012 7:56pm
Quoting 919gilead
Great DapperDan. Skype id is Gilead919
Just added you George!!
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