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The perfect trading system

  • #481
  • Edited 11:58am Jun 21, 2012 11:29am | Edited 11:58am
Quoting mr.chia
my stop loss 150-200pips, audusd and nzdusd 150pips
spoore rookies gbpusd touch 30 rsi h1,ready to buy,wait corfirm h1 candle,buy in zona 1.5600-1.5650,looking every 1 hour.
Jbu
after buy,ready to sell in zona 1.5700-1.5750, wait for h1 and h4 candle
WAIT 4-6CANDLE H1,IT'S MEANS ,I WILL CHECK TOMMOROW MORNING .I AM TIRED TODAY I WANT TO SLEEP NOW,IF THE PRICE TOUCH 1.5640-1.5650 AND RSI M15 CROSS 50,READY TO BUY...
ARTICULATE SAID RSI DAILY IN ZONA 50,ITS MEANS HAVE 2 possibility,CONTINUE TREND OR PULL BACK.JESUS BLESS YOU
  • #482
  • Jun 21, 2012 11:30am Jun 21, 2012 11:30am
Quoting Mr.chia
my stop loss 150-200pips, audusd and nzdusd 150pips
spoore rookies gbpusd touch 30 rsi h1,ready to buy,wait corfirm h1 candle,buy in zona 1.5600-1.5650,looking every 1 hour.
JBU
Thank you for the alert. I bought at 1.56100. May God Bless You.
  • #483
  • Jun 21, 2012 4:01pm Jun 21, 2012 4:01pm
God help the Rookies if FF lets threads like this have free reign in the Rookie section.

God bless you all. You will need it.
Gone to a better place
  • #484
  • Edited 6:20am Jun 25, 2012 4:59am | Edited 6:20am
CLARIFICATION ON 200 PIPS STOP LOSS

I thought I should clarity the rules regarding 200 pips stop loss in order to provide proper guidelines. The rules regarding 200 pips stop loss are as follows:

Rule 1: Identify a clear tread. A new trend is established if:

a) Price fails to break Masterchart level by the weekly candle; or
b) I full weekly reverse candle after 1000+ pips movement; or
c) If a weekly candle reversed on "a line in the sand" after more than 1000 pips movement.

Rule 2: Trade the recommended lot size i.e:

- 0.01 for $1000 Trading account = $20 loss or 2% of the account
- 0.02 for $2,000 Trading Account = $40 loss or 2% of the account
- 0.03 for $3,000 Trading Account = $60 loss or 2% of the accout

If you are using different lot sizes or the criteria above are not met, then 200 stop loss will not apply to you.

For example if you are trading the following lot sizes, the maximum stop loss applicable is 20 pips to limit your risk to 2% of your account size per trade. If you apply 200 pips stop losse for these loss sizes, your loss per trade will be as follows:

- 0.10 for $1000 Trading account = $200 or 20% of the account
- 0.20 for $2,000 Trading Account = $400 loss or 20% of the account
- 0.30 for $3,000 Trading Account = $600 loss or 20% of the accout

The objective of the rules regarding 200 stop loss is to give your trades room to mature and limit your loss to not more that 2% of your account size.

If the three (3) criteria above are not met, the classic Money Management strategy is do not risk more than 2% of your account per trade, no matter your account size or lot size.

I hope the above explanation will clarify my recommendation on 200 pips stop.

Quoting Articulate
RULE NO. 3: Set you stop loss at 200 pips or no stop loss at all (manually close your trade if your stop loss is approaching 200 pips


‘Stop Loss’: [color=black][font=Verdana]Every new trader is told to use Stop Loss (SL) and Take Profit to manage his risk and increase profitability. The typical advise is ratio of 2:1 (TP 20:SL10; TP40:SL20; TP80;SL 40;...
  • #485
  • Jun 25, 2012 5:28am Jun 25, 2012 5:28am
The purpose of this thread is to share/teach sound and enduring strategies like the YPAA, MPAA, 1000 PPAA, 50PPAA, Concrete Zones, Money Management (lot sizes appropriate to account sizes) and limiting your risk per trade to not more 2% of your account size, etc. I am always here to guide willing traders from straying from core principles of this technique.

If you have problems with this technique bring then to the fore or if you have superior arguments share them rather than pass cynical comments without any substance.



Quoting smikester
God help the Rookies if FF lets threads like this have free reign in the Rookie section.

God bless you all. You will need it.
  • #486
  • Jun 25, 2012 12:29pm Jun 25, 2012 12:29pm
Articulate, amazing 500pips gbpusd pull down again ,look like trend is change, i will sell when gbpusd in zona 1.5650-1.5700.always watching h1 and h4 candle.JBU
  • #487
  • Jun 26, 2012 10:03am Jun 26, 2012 10:03am
[quote=Mr.chia;5789393]Articulate, amazing 500pips gbpusd pull down again ,look like trend is change, i will sell when gbpusd in zona 1.5650-1.5700.always watching h1 and h4 candle.JBU[
spore rookies ,if today close above 1.5565,it's mean bullish ,buy..........
buy 1.5590
i want ask our master first, articulate what is your opinion gbpusd continue 1000pip, touch 1.6300????Jesus Bless You
  • #488
  • Jun 27, 2012 7:21pm Jun 27, 2012 7:21pm
[quote=Mr.chia;5791975]
Quoting Mr.chia
Articulate, amazing 500pips gbpusd pull down again ,look like trend is change, i will sell when gbpusd in zona 1.5650-1.5700.always watching h1 and h4 candle.JBU[
spore rookies ,if today close above 1.5565,it's mean bullish ,buy..........
buy 1.5590
i want ask our master first, articulate what is your opinion gbpusd continue 1000pip, touch 1.6300????Jesus Bless You
LOOK DAILY CANDLE, 4 DAILY CANDLE CAN NOT BREAK 1.5550, SO I PUT MY BUY LIMIT 1.5560 WITH SL 1.5500.
  • #489
  • Jun 28, 2012 10:12am Jun 28, 2012 10:12am
[quote=Mr.chia;5795801]
Quoting Mr.chia

LOOK DAILY CANDLE, 4 DAILY CANDLE CAN NOT BREAK 1.5550, SO I PUT MY BUY LIMIT 1.5560 WITH SL 1.5500.
i am wrong ,zona 1.5550 is broken,cut loss and i put my sell limit 1.5600 .trend change.
  • #490
  • Jun 29, 2012 11:27am Jun 29, 2012 11:27am
Quoting Articulate
Our lines in the sand are holding for those who drew the lines when I gave the hint. Most of the pairs which respected the lines will use them as springboards for strong reversals. We will see 500 pips for most and probably 1000 pips for some.

As you can see the lines are holding. Put differently, a line in the sand will differentiate between a strong (reliable) bottom from a false one.
These are some few charts in respect of my post on drawing lines in the sand. Look at the charts carefully, observe the weekly pins and re-read my posts on drawing lines and pins. I will discuss the weekly and H4 pins again in my next post.

Always look at the weekly chart to see the bigger pictures before you take decisions on the lower timeframes.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusd weekly.gif Size: 10 KB
Click to Enlarge Name: gbpjpy weekly.gif Size: 10 KB
Click to Enlarge Name: audjpy weekly.gif Size: 11 KB
Click to Enlarge Name: cadjpy weekly.gif Size: 10 KB
  • #491
  • Jun 29, 2012 12:18pm Jun 29, 2012 12:18pm
Quoting Articulate
These are some few charts in respect of my post on drawing lines in the sand. Look at the charts carefully, observe the weekly pins and re-read my posts on drawing lines and pins. I will discuss the weekly and H4 pins again in my next post.

Always look at the weekly chart to see the bigger pictures before you take decisions on the lower timeframes.
ARTICULATE,i am very happy to see you posting your analysis, tq May Jesus Bless You
  • #492
  • Jun 30, 2012 4:52am Jun 30, 2012 4:52am
Hello all, I hope I'm in the right thread to pose a newbie question. I just registered at ACFX and they offered me 100 dollars for one month to trade and keep the earnings under condition that I can trade 10 lots within 30 days frame. My question is if its worth invest time into some short term strategy tailored for this amount under conditions described. My goal is at least to stay at 0 loss/gain but learn as much as possible about trading and be able to continue trading next month. I already have some experience with paper trading and other brokers but I'm not really sure how to manage eg. trades per day, lots per trade to actually achieve fluent strategy.
Any insight appreciated.

Jim.
  • #493
  • Jun 30, 2012 12:34pm Jun 30, 2012 12:34pm
Take my advise as a newbie there is no way you can trade 10 lots in a month without getting your fingers burnt. Forget the $100 bait. Open a micro account and trade only 0.01 lots and a maximum of 2 trades at a time until you know how to trade forex and make profit consistently. Better still, open a demo account, practice and develop your strategy there for the remaining part of 2012 and begin live trading in 2013.


Quoting azm
Hello all, I hope I'm in the right thread to pose a newbie question. I just registered at ACFX and they offered me 100 dollars for one month to trade and keep the earnings under condition that I can trade 10 lots within 30 days frame. My question is if its worth invest time into some short term strategy tailored for this amount under conditions described. My goal is at least to stay at 0 loss/gain but learn as much as possible about trading and be able to continue trading next month. I already have some experience with paper trading and other brokers...
  • #494
  • Edited 1:09pm Jun 30, 2012 12:43pm | Edited 1:09pm
We have just completed the first half of the year. Look at the monthly charts below for some major pairs. What did you see? How many of the pairs completed 1000+ pips and was was the reaction? Did you see the weekly lines on the monthly charts? Can see the direction? Where do you think we are we going in the next six months? Find answers to these questions and you will be a better trader.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: monthly - gbpusd.gif Size: 13 KB
Click to Enlarge Name: monthly - gbpjpy.gif Size: 11 KB
Click to Enlarge Name: monthly - eurusd.gif Size: 12 KB
Click to Enlarge Name: monthly - nzdusd.gif Size: 12 KB
  • #495
  • Jun 30, 2012 1:09pm Jun 30, 2012 1:09pm
More monthly charts for some major pairs. Study these charts and the weekly charts until you begin to clearly understand where the big buys are going. As usual I will use the GBPUSD to analysis what happened in the first half of 2012 and my view for the rest of the year in my next post. I hope this will guide others in analysing other pairs.

Quoting Articulate
We have just completed the first half of the year. Look at the monthly charts below for some major pairs. What did you see? How many of the pairs completed 1000+ pips and was was the reaction? Did you see the weekly lines on the monthly charts? Can see the direction? Where do you think we are we going in the next six months? Find answers to these question and you will be a better trader.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: monthly - usdcad.gif Size: 11 KB
Click to Enlarge Name: monthly - eurgbp.gif Size: 11 KB
Click to Enlarge Name: monthly - eurjpy.gif Size: 11 KB
Click to Enlarge Name: monthly - chfjpy.gif Size: 10 KB
  • #496
  • Jun 30, 2012 4:28pm Jun 30, 2012 4:28pm
Quoting Articulate
Take my advise as a newbie there is no way you can trade 10 lots in a month without getting your fingers burnt. Forget the $100 bait. Open a micro account and trade only 0.01 lots and a maximum of 2 trades at a time until you know how to trade forex and make profit consistently. Better still, open a demo account, practice and develop your strategy there for the remaining part of 2012 and begin live trading in 2013.
Hello Articulate. Thanks for your feedback. To make it a bit more clear, I'm not complete beginner and been around for two years or so. The issue with paper trading is that it does make me want to look into forex as its kinda dry without the real money.Which indeed may sound as beginner's thrill just before wiping entire account. But really trading with such tiny amount makes me more excited than PT. I'm still considering to trade the 100 bucks and take it just as challenge-as there is nothing to lose, just learn from mistakes. I set up leverage 1:200 so it means I can trade maximum of 0.2 lot if I count right. That means I could make around three trades a day.
The point is not to make money as to survive to next month. I was thinking about some simple scalping strategy but don't have specific plan. Next few day I'm going to work on.
When it comes to the micro accounts that is sane solution but currently not feasible. This is chance to get one free if the conditions will be less restrictive after the 30 days trial.
Would you have some specific advise to make it happen ?
  • #497
  • Edited 9:11am Jul 2, 2012 3:17am | Edited 9:11am
I may not be able to help you fully because I am a position trader. I place only few first-class trades and will only go for the pairs with the right opportunities. To me with $100 you are embarking on a "Mission Impossible". However, since you have been around for sometimes and you only wish to take the $100 challenge to test your ability, I believe you could find my 50 Pips Price Action Analysis (50 PPAA) useful. Check this thread and read my posting on the strategy carefully. If you have any questions, post them here. I will try to provide answers.

Enjoy your week!

Quoting azm
Hello Articulate. Thanks for your feedback. To make it a bit more clear, I'm not complete beginner and been around for two years or so. The issue with paper trading is that it does make me want to look into forex as its kinda dry without the real money.Which indeed may sound as beginner's thrill just before wiping entire account. But really trading with such tiny amount makes me more excited than PT. I'm still considering to trade the 100 bucks and take it just as challenge-as there is nothing to lose, just learn from mistakes. I set up leverage...
  • #498
  • Jul 3, 2012 12:15am Jul 3, 2012 12:15am
Quoting Articulate
I may not be able to help you fully because I am a position trader. I place only few first-class trades and will only go for the pairs with the right opportunities. To me with $100 you are embarking on a "Mission Impossible". However, since you have been around for sometimes and you only wish to take the $100 challenge to test your ability, I believe you could find my 50 Pips Price Action Analysis (50 PPAA) useful. Check this thread and read my posting on the strategy carefully. If you have any questions, post them here. I will try to provide...
ARTICULATE, i want ask you about 1000pips, for gbpusd buy limit 1.5300 and sell limit 1.6300 and for audusd sell limit in zona 0.9800-1.1000 nzdusd sell limit in zona 8.400-8.500.i need your enlightenment.May Jesus Bless You
  • #499
  • Edited 5:15pm Jul 4, 2012 4:59pm | Edited 5:15pm
Your pending orders for GBPUSD are OK, but limits for AUDUSD are 1.1000 and 0.9500. The sell limit for NZDUSD is ok too, but it can extend to 0.8800. Check the monthly charts I posted above again for confirmation.


Quoting Mr.chia
ARTICULATE, i want ask you about 1000pips, for gbpusd buy limit 1.5300 and sell limit 1.6300 and for audusd sell limit in zona 0.9800-1.1000 nzdusd sell limit in zona 8.400-8.500.i need your enlightenment.May Jesus Bless You
  • #500
  • Jul 5, 2012 11:46pm Jul 5, 2012 11:46pm
Quoting Articulate
Your pending orders for GBPUSD are OK, but limits for AUDUSD are 1.1000 and 0.9500. The sell limit for NZDUSD is ok too, but it can extend to 0.8800. Check the monthly charts I posted above again for confirmation.
thank's articulate. JBU
anybody in this thread????let we share audusd
for audusd
Trader 1 said: i will put my sell limit if this week close in zona 1.0000-1.0050. or price touch that area .
trader 2 said :daily candle show us ready to sell
trader 3 said:rsi h4 want to cross rsi 50,its means ,after touch 1.0150-1.0200,its mean ready to put your sell limit,1.0150-1.0200.
if 3 trader above sell together,its means big FALL ,
WHERE IS YOUR POSITION? ,TRADER 1,TRADER 2 OR TRADER 3?.
i put my sell limit 1.0300,
JESUS BLESS YOU ALL
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