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The perfect trading system

  • #621
  • Aug 22, 2012 1:27pm Aug 22, 2012 1:27pm
Thank you for your offer Mr. Protector-of-the-Rookies. As you can see the "Rookies" here are both intelligent and enlightened and they can also protect themselves. You may wish to carry your "Spiderman" heroics elsewhere. Or do you want to protect them forcefully?




Quoting smikester
Here you are: http://www.forexfactory.com/search.p...247342&page=33

Useful contributions since April 2007.

I don't intend to stop helping rookies just because you can't be bothered to do your research.
  • #622
  • Aug 22, 2012 1:29pm Aug 22, 2012 1:29pm
Your interpretation on 1 and 2 is spot on. I will use this opportunity to highlight the specific questions to ask before entering 1st class trades using GBPUSD as example:

1st Class Trades

Step 1: The first question to ask is "Has the pairs moved by 1000 pips or from one Masterchart level to another?"

Step 2: If the answer is yes the next question is "What is the highest price on the weekly candle in case of bullish move and lowest price in case of bearish move?"

Step 3: If you are able to identify the highest/lowest price, draw a line in the sand at that point.

Step 4: For another 500 pips retrace or 1000 pips price reversal, the next weekly candle will not break that line.

Step 5: After 1000 pips, if your daily RSI is in the yellow zone (around 30 point mark) that is a confirmation that you are in the right place to buy. This is a mere confirmation. It is not important that the daily RSI is in the buy zone as long as your line in sand is drawn after 1000 pips.

Step 6: You will then go to your H4 chart and wait to see if at least four H4 fails to break your "line in the sand" to follow the retrace/reverse train for at least about 500 pips trip.

2nd Class Trades

Step 1: The first question to ask is "Has the pairs moved/retrace 500 pips or from one masterchart level to another?"

Step 2: If the answer is yes the next question is "What is the highest price on the weekly candle in case of bullish move and lowest price in case of bearish move?"

Step 3: If you are able to identify the highest/lowest price, draw a line indicating temporary resistance/support at that point. Remember after 500 pips retrace, price can either reverse of continue the movement.

Step 4: The next weekly candle will break that line if the movement will continue, where it fails, the weekly candles will either consolidate for some weeks or retest the land in the sand.

Step 5: For continuation of the bullish move, one H4 candle will break the 1.5800 points and the next one will sit (open and close) on top. You can then follow the third bearish candle. It safer to put your stop loss at least 50 pips or not more than 2% of your account below the blue line in case the analysis go wrong.

The above step 5 apply to where the price is at the moment, look at the hypothetical chart on the H4 chart to buy at this point. To sell for 2nd class trades, wait for this week's candle to close, if it fails to break 1.5800 and ended up with a pin after close of the market this Friday. Go to your H4 chart next week and if 4 H4 candles fails= to break the weekly pin, you can sell your way back to the concrete zone support at 1.5450. It safer to put your stop loss at least 50 pips or not more than 2% of your account above the weekly pin in case the analysis go wrong.


For 1st class trades, wait for the weekly candle to test the line in the sand again or a touch of 1.6300.

Quoting Praveensuri
Thank you very much for your explanation. I am studying your charts the weekly and the monthly which you have posted. Here is my understanding of yhose charts;
1 The yellow lines are 1000 pips apart
2 The blue lines on the weekly are 500 pips from your levels of 1.43, 1,53 . In other words you have drawn a blue line on weekly chart by subtracting 500 pips from 1.63 for the first line to get 1.62 50 and then another 500 from 1,6250 to get the next line and so on
3 The pins on the weekly touch one of these blue lines for a reversal
Provided the 14...
  • #623
  • Aug 22, 2012 1:37pm Aug 22, 2012 1:37pm
Here are the monthly, weekly and H4 candles for this post

Quoting Articulate
Your interpretation on 1 and 2 is spot on. I will use this opportunity to highlight the specific questions to ask before entering 1st class trades using GBPUSD as example:

1st Class Trades

Step 1: The first question to ask is "Has the pairs moved by 1000 pips or from one Masterchart level to another?"

[color=black][font=Verdana]Step 2: If the answer is yes the next question is [b][font=Verdana]"What...
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  • #624
  • Aug 22, 2012 2:25pm Aug 22, 2012 2:25pm
Quoting Praveensuri
Mr Chia

If I understand your charts correctly, your longer term chart chart is 4 hours and your shorter term chart is 1 hour. You buy or sell when the RSI on both charts is either in the yellow or red zone. Further the price on 4 hour must be at support or resistance. your 4 hour chart seems to be at mid line of the rsi and your 1 hour is almost there at the buy zone. would you buy as soon as rsi hits buy zone on 1 hour RSI and stays above mid line on 4 hour?
By the way r u from Singapore??

Thanks
praveensuri,that is my med term ,daily in 50, my long term if daily in zona 70-82 or 18-30 and weekly in zona at least 30-40 and 18-30. may i know what pairs that you trade???every pairs have every character.it's depend pairs?i buy if h1 in zona at least 30-40,or in zona 18-30, but after kiss 70 in h1, but confirm with h4.h4 in rsi at least 50, better under 50. i live in indonesia .May Jesus Bless You
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  • #625
  • Aug 22, 2012 2:38pm Aug 22, 2012 2:38pm
RAFIKI my analisys, ready to sell gbpjpy , rsi h1 touch 30, good are to sell is 124.75-125.50, wait rsi hi in zona 60-70,Don't forget conform with candle. may JESUS BLESS YOU???
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  • #626
  • Aug 22, 2012 2:44pm Aug 22, 2012 2:44pm
Quoting Articulate
Thank you for your offer Mr. Protector-of-the-Rookies. As you can see the "Rookies" here are both intelligent and enlightened and they can also protect themselves. You may wish to carry your "Spiderman" heroics elsewhere. Or do you want to protect them forcefully?
I hope they can and thank you for the compliment.

Your thread is a strategy and it is in the wrong section. It has been consigned to the Rookie thread (remember?) because of the Loonie title. Forex Factory consigns all "Holy Grail" type threads to this section.

Why not show off your strategy in the Trading Systems or Trading Discussions sections where it can sink or swim against some of the better ones? And the link to the commercial site? Would that be noticed more? Probably.

I don't have anything against you personally, your strategy, or your followers. But I think I know why you are here.

Again, thanks for the compliment. This is just one of my hats:

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Haha!
Gone to a better place
  • #627
  • Aug 22, 2012 2:47pm Aug 22, 2012 2:47pm
Quoting smikester
And so, why is this thread called "The Perfect Trading System"?

And why, may I ask, is it in the Rookie section?

Are rookies supposed to look at this:

Attachment

and understand it?
smikester,,, rookies must learn to develop their analisys, i think you ever loss your money after follow articulate's thread ,that why you hate articulate....ha ha ha. Jbu
  • #628
  • Aug 22, 2012 5:06pm Aug 22, 2012 5:06pm
Articulate

Thank you for your detailed reply. There is lot of information, which I plan to study carefully and absorb. I will revert if there are any more questions.

Thank you once again
  • #629
  • Aug 22, 2012 9:20pm Aug 22, 2012 9:20pm
I HAVE NOT POSITION in gbpusd, but 3 positon buy audusd(1position small lot, maybe i forget to set again after trade in other pairs for analisys) that why i add 1 position again. 2 position in nzdusd, target audusd 1.0600 and nzd 0.8200-0.8250.May God Bless you.
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  • #630
  • Aug 22, 2012 9:59pm Aug 22, 2012 9:59pm
So far I do not trade Forex. I am just trying to learn the process. Thank you for your response to my earlier question
Appreciate it very much!
  • #631
  • Aug 22, 2012 10:07pm Aug 22, 2012 10:07pm
Articulate,

As it happens 1.58 level was taken out and at the time of writing this post, we are at 1.59. I drew the line in the sand as you suggested at 1.5774. Also the 500 pip line 1.5800 offered weak resistance. Since the weekly candle has not closed as yet, we do not know right now whether it will close below the line in sand or below the 500 pip level. The question then is, if I want to trade this using a 4 hour chart, I would like your comments how to execute the trade. As far as I see it, once the first 4 hour candle took out the line in sand it hit the 500 pip level at 1.58 and closed as pin bar. The next 4 hour candle was a bearih one and the candle after the first red candle was also bearish, closing below the line in sand. Logically this wou;ld have been a position to short. However if you had done that, you would have lost, as the next two candles after that were bullish.
WOULD APPRECIATE YOUR VIEWS ON IT.

Many Thanks
  • #632
  • Aug 23, 2012 1:42am Aug 23, 2012 1:42am
I believe that starting out with the right broker is key!

I could easily be wrong. My question to the more experienced trader is. What brokers do you feel is ideal. Are all brokers the "same". For starters what is your opinion on the broker "Trading-point". In addition whats your views on the indicator named "SuperADX"?
  • #633
  • Edited 5:28am Aug 23, 2012 5:13am | Edited 5:28am
In FX you need to have a critical point i.e. a point of reference at every point in time. The critical point for GBPUSD and most pairs is the weekly chart. The lower time frames could be very erratic, but weekly candle is always constant. Look at the weekly chart I posted earlier and what did you see around 1.5800? This is my take on this move:

1. Wait for this week's candle to close to determine whether this move is a false breakout or not

2. Most of the times, when a weekly candle blasted through 1.5800, the next weekly candle will re-test it before continuing the run. I am expecting a retest of 1.5800. Look at the weekly chart I posted earlier to see the where the weekly candles closed and the pins around 1.5800.

3. If 1.5800 is not tested now 1.6000 will push back the price to around 1.5800.

4. Where 1.5800 is not re-tested by the weekly candle, the best option is to wait for completion of 1000 pips around 1.6300 and look for short.

5. Finally look at the monthly chart and you will see what we have on our hands for now are very weak bulls and very strong bears. For example from the beginning of the year the cable completed 1000 pips bulish move in 4 whole months. This move was reversed by 1 month bearish candle. The bullish move from 1.5300 is only 600 pips so far for about 3 months.

The bigger picture is that the cable is consolidating between 1.6300 and 1.5300 since the beginning of the year. The the most profitable strategy is to trade every 1000 pips move. As long as the Euro crisis persist, the bulls will remain weak and every struggle by the bulls will constantly be devored by the bears until a giant bull appears.

This is the bigger picture! Again read my post on the mindset of a successful trader for useful insight on putting in place a profitable strategy for trading. Read as many threads as you can to pick useful ideas that will assist you to put in place the best strategy whenever you decide to trade. As I mentioned in one of my post, trading is personal and the best strategy is the one that evolve from your efforts.


Quoting Praveensuri
Articulate,

As it happens 1.58 level was taken out and at the time of writing this post, we are at 1.59. I drew the line in the sand as you suggested at 1.5774. Also the 500 pip line 1.5800 offered weak resistance. Since the weekly candle has not closed as yet, we do not know right now whether it will close below the line in sand or below the 500 pip level. The question then is, if I want to trade this using a 4 hour chart, I would like your comments how to execute the trade. As far as I see it, once the first 4 hour candle took out the line in...
  • #634
  • Edited 9:20am Aug 23, 2012 9:08am | Edited 9:20am
Let me repeat my earlier response to one of your incomprehensible blabbing “There is no greater fool that he knows nothing but thinks that he knows all”. This is a free world and each and every one of us is entitled to his or her opinion. There are thousands of threads of FF and each trader is free to visit anyone he likes. The problem with your likes is that you are so dumb and set in your ways to understand superior arguments. You keep repeating the same comments over and over again trying to convince yourself that you are making sense. If you repeat yourself a million times, it will never change the fact that you are talking trash. As you can see, you are not making sense to anybody here.

You are obviously frustrated and confused. You said there is nothing here and you keep spending hours “stealing” ideas. What a pathetic loser you are!


However, the cure for your stupidity is to keep telling you how stupid you are each time you post your stupid comments. For every brainless comment you post here expect a response. If you think this is a thread where you can spew rubbish and get away with it, you are dead wrong.

Quoting smikester
I hope they can and thank you for the compliment.

Your thread is a strategy and it is in the wrong section. It has been consigned to the Rookie thread (remember?) because of the Loonie title. Forex Factory consigns all "Holy Grail" type threads to this section.

Why not show off your strategy in the Trading Systems or Trading Discussions sections where it can sink or swim against some of the better ones? And the link to the commercial site? Would that be noticed more? Probably.

I don't have anything against you personally, your strategy,...
  • #635
  • Aug 23, 2012 5:10pm Aug 23, 2012 5:10pm
Articulate

As it happens, GBP/USD is trading at 1.5860 on its way to test 1.58 as per your last post. When it reaches 1.58 there are two possibilities:
1 Weekly candle closes above 1.58
2 Weekly candle closes below 1.58

At what stage will you take a bullish or a bearish trade/ In other words what kind of confirmation will you seek before going long or short, once 1.58 gets tested. Also looking at the chart, what will be your targets in both cases.
Many Thanks
  • #636
  • Aug 23, 2012 6:56pm Aug 23, 2012 6:56pm
LOOK WEEKLY CANDLE,AUDUSD AND NZDUSD, HAVE 4 WEEKLY IN THE RANGE 200pips,5th or 6th will tell us trend still up or not, but remember in the new month , possible trend will change.rsi weekly touch 60, sometimes change after touch 60 ,sometimes touch 70.time will proof it. Happy trading.JesusBlessyou
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  • #637
  • Aug 23, 2012 9:37pm Aug 23, 2012 9:37pm
this is my other chart ,without indicator, just candlestick, it's very clear. JBU
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  • #638
  • Edited 8:58am Aug 24, 2012 3:22am | Edited 8:58am
There are three scenarios from 1.5800 and they are:

a) Using the wekly chart and 1000 PPAA buying/selling from 1.5800 is a 2nd class trading opportunity, price could go either way. You will need to wait for this week's candle to close and next week's candle to open and close above 1.5800 to take a decision. This is time the to wait for positioned Trader i.e. 500-1000 pips profit per trade.

b) If there is no opportunity in the weekly chart, the next thing is to go the daily friendly chart. The daily friendly chart clearly indicates that bull has not reach the sell zone since leaving the buy zone around 1.5300. Wait until it reaches the red (sell zone). This is also time to wait.

c) For short-term traders, you will have to shift your attention to 50PPAA, the H4 chart shows that price enter the sell zone around 1.5900. If you are tradint this set up, I advocate a target of 50 pips at a time. If a trader is shorting this set up the Stop Loss should be above the pins of the H4 candles at 1.5915.

These are the three scenarious. As for me, there is nothing to trade here yet, I only take 1st class opportunities.





Quoting Praveensuri
Articulate

As it happens, GBP/USD is trading at 1.5860 on its way to test 1.58 as per your last post. When it reaches 1.58 there are two possibilities:
1 Weekly candle closes above 1.58
2 Weekly candle closes below 1.58

At what stage will you take a bullish or a bearish trade/ In other words what kind of confirmation will you seek before going long or short, once 1.58 gets tested. Also looking at the chart, what will be your targets in both cases.
Many Thanks
  • #639
  • Aug 24, 2012 10:22am Aug 24, 2012 10:22am
ARTICULATE, i think ,best position for buy is 1.5700 and 1.5750
  • #640
  • Aug 24, 2012 10:53am Aug 24, 2012 10:53am
Hello Articulate,

Thank you for your comments. Some more questiosn. I understand your comment on the Weekly. On the Daily however, if I look at the 2 red candles, although 1.58 is still not broken( still half day to go before weekend close), here are couple of scenarios for the Daily only.
1 The daily closes above 1.58 but the RSI has till not reached the sell zone. The RSI may never reach the sell zone, but may make a lower high on RSI and continue downwardbelwo 1.58...will you take the short on Daily in such a situation
2 The market closes below 1.58 on daily but the RSI still not reached sell zone. a small green reversal candle is formed which goes to test the low of the pin bar at 1.5860. THE RSI may form a lower low and a red candle after the small green candle forms. Will you take a short in this scenario

I guess what I am trying to understand from you, is will you absolutely wait for RSI to hit the sell or buy zone before taking a trade or lower high or higher low( in case of long) on RSI is acceptable as long as it is above /below the 50 range on RSI

Many Thanks for your help
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