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Simple Money Making Method

  • #41
  • Sep 13, 2012 9:50pm Sep 13, 2012 9:50pm
Quoting FX-Pro
Ok Guys... Its time for dinner...... & then to Sleep.... I'm Keeping this trade open with BE...

See you All.
Night Night...
Here is the Update of the Trade....

The Daily chart has almost reached the major Resistance zone....

Still the 1H is in a good shape.... keeping daily resistance in mind i may close this trade if i see any reversal patterns on 1H....

At the Moment the trade is up with with +90 Pips... lets see how long we can sustain this one.....

Regards,
FX-Pro
Attached Images
  • #42
  • Sep 13, 2012 9:52pm Sep 13, 2012 9:52pm
Quoting Fx_Pipin
Looks good
Anything simple should look good always.... thanks...

Regards,
FX-Pro
  • #43
  • Sep 13, 2012 10:04pm Sep 13, 2012 10:04pm
Quoting dnabrasil
i'm curious about the re-entry setup..

you sad you make 12-16 trades, including the re entry, right?


me too!!
Over trading is one of the major concern for all the newbies, & i made huge damage to my account.... finally this system made me to overcome & gave me reliable setups...

Yes 12 to 16 includes reentries.... instead of posting historical chart i would like to give you guys a live entry chart for Re-entry Setup... so Please stay with me...

Cheers,
FX-Pro
  • #44
  • Sep 13, 2012 10:13pm Sep 13, 2012 10:13pm
Thanks for sharing your system... I too have l@@ked into everything out there and price action and simplicity are the best I have found. Thanks again for not being greedy and sharing... people think they can't share what works.
  • #45
  • Sep 13, 2012 10:14pm Sep 13, 2012 10:14pm
Quoting FX-Pro
Here is the Update of the Trade....

The Daily chart has almost reached the major Resistance zone....

Regards,
FX-Pro
Just to give you all an update i locked some 60 pips by moving my SL below the previous Long Bull candle...

Cheers
FX-Pro
Attached Image
  • #46
  • Sep 13, 2012 10:26pm Sep 13, 2012 10:26pm
Quoting janek23
Do you think it (the system) would work on daily chart?
I can see how it would behave on daily history using EMA72/12 (rather fine with some take profits and as you said break evens) but what about periods of EMAs? Should one adapt them to daily "reality"?

EMA7 - (week trend) ?
EMA30 or 60 - (month/2months trend)?

and how about lower TFs? (15min/scalping)

I'm just asking for opinion and if it's to much trouble than please save your energy for forex =)
Its not at all a trouble... we all are here to learn & help each other...

I never tried this with any other time frame... however some time i move to 4H if see the 1H chart is too choppy or to get the bigger picture of the day... & also to M15 for better entry & to Manage the existing trades....

this method was fine tuned for 6+months before putting real money into this method on 1H A/U,

For Now I've no clue about daily/weekly/Monthly EMA Periods....

But we may consider that in future....

Stay Tuned...
FX-Pro
  • #47
  • Sep 13, 2012 10:26pm Sep 13, 2012 10:26pm
I have a few questions if you don't mind.

1. Are you day trading this method or getting in and holding a position for days, weeks, so on?

2. What is your risk tolerance on stops?

3. Are you using or not using the Heiken-Ashi bars?

Thanks,
Scott Perry
  • #48
  • Sep 13, 2012 10:29pm Sep 13, 2012 10:29pm
Quoting Zokynho
FX-pro,

thanks for this easy and kiss method, i am with you.

Let's grab some pips
welcome aboard....

Regards,
FX-Pro
  • #49
  • Sep 13, 2012 10:35pm Sep 13, 2012 10:35pm
Quoting FX-Pro
Over trading is one of the major concern for all the newbies, & i made huge damage to my account.... finally this system made me to overcome & gave me reliable setups...
Cheers FX-Pro
hi fx pro, from this system, how much average pips you get/month?
and I want to know live entry chart for Re-entry Setup
thanks for share this system
  • #50
  • Sep 13, 2012 10:46pm Sep 13, 2012 10:46pm
Quoting dsperry
I have a few questions if you don't mind.

1. Are you day trading this method or getting in and holding a position for days, weeks, so on?

2. What is your risk tolerance on stops?

3. Are you using or not using the Heiken-Ashi bars?

Thanks,
Scott Perry
1. I hold my trades from 1H to 5 Days.... & very rarely weeks...

2. 2% to 3% risk per trade...

3. as mentioned earlier i stooped using... Heikenashi... however i'l post my next entry with heikenashi... for the benefit of all newbies....

Regards,
FX-Pro
  • #51
  • Sep 13, 2012 11:04pm Sep 13, 2012 11:04pm
Quoting ravenclaw
hi fx pro, from this system, how much average pips you get/month?
and I want to know live entry chart for Re-entry Setup
thanks for share this system
The least I've closed a month was 485 Pips I guess, & the Max I closed was 1823 Pips... it all depends on the time i spend on chart... & the market conditions...

i always open my chart without any expectations & emotions.... I strongly believe, this is the basic requirement to be a successful trader...

Cheers,
FX-Pro
  • #52
  • Sep 13, 2012 11:55pm Sep 13, 2012 11:55pm
Just to illustrate Re-Entry Setup i've used NZD/USD...

1. The Resistance turned to Support... some time i look for RN....
2. The Bull Candle confirmed that the Resistance is Broken...
3. We are with the Strong Up Trend
4. The Price Closed Above the 12 EMA
5. We have enough room to reach the next Physiological level...

To Support this setup the AU Performed the same but a reject from 72 EMA( Classic Entry Setup)

AU & N/U move together most of the time.....

So Precisely.... what we entered in AU (Classic Entry) is a Re-Entry on N/U...

Will Soon post a Live Re-Entry Setup

Cheers..
FX-Pro
Attached Image (click to enlarge)
Click to Enlarge Name: example.gif Size: 25 KB
  • #53
  • Sep 14, 2012 12:11am Sep 14, 2012 12:11am
Quoting FX-Pro
Just to give you all an update i locked some 60 pips by moving my SL below the previous Long Bull candle...

Cheers
FX-Pro
Trade Update :-

Locked 78 Pips & moved the Sl Below the previous Bull Candle.....

The Current Status of the Trade is +96 Pips now...

Cheers...
FX-Pro
Attached Image
  • #54
  • Sep 14, 2012 12:58am Sep 14, 2012 12:58am
FX-Pro

Thanks for sharing your system.

With 12-16 trades a month on AUD/USD I feel our education may be somewhat slow if we wait for live trades. Would it be possible to go back a month and gives us your trades and comments on the AUD/USD?

In Post number 52 you said "some time i look for RN" Is "RN" abbreviated for Round Number? If so, are you looking to re-enter on a Round Number without there being Support or Resistance at that number?

When you said:
"The least I've closed a month was 485 Pips I guess, & the Max I closed was 1823 Pips"
...........was that from trading one contract only and if not, how many contracts do you trade for each system entry taken?

You said that previously you used Heiken Ashi (HA) in your set-up. What in particular were you using with HA to trigger an entry?

Finally, in trading the AUD/USD with this method, prior to starting with real money did you test the system across other currencies with the Aussie proving the best?

Many thanks.


Di
  • #55
  • Sep 14, 2012 1:06am Sep 14, 2012 1:06am
Quoting FX-Pro
Hi All....

Here is the Typical Entry/Exit of this Method.... a 116 Pips Trade, however i closed this trade with just 80 Pips... (Impatience)

For this method you need lots of patience...., not just for this but any method for that matter....

Good Luck To All
FX-Pro

Thank you,
  • #56
  • Sep 14, 2012 2:02am Sep 14, 2012 2:02am
Quoting duffy
FX-Pro

Thanks for sharing your system.

With 12-16 trades a month on AUD/USD I feel our education may be somewhat slow if we wait for live trades. Would it be possible to go back a month and gives us your trades and comments on the AUD/USD?

In Post number 52 you said "some time i look for RN" Is "RN" abbreviated for Round Number? If so, are you looking to re-enter on a Round Number without there being Support or Resistance at that number?

When you said:
"The least I've closed a month was 485 Pips I guess, & the Max I closed...
1. Ok If You Look at my First Post chart that will give you enough triggers.... what i look for to enter... keeping that im mind you please go back month on month & do your home work.... meaning manually mark all the valid entries..... & learn from that.....
the # of trades are not important here.... but the amount of pips that we generate from this method....

2. Yes RN= Round Number.... For Re-Entries I Need a strong reason to enter it can be a RN or a Support/Resistance.... more than all these you should have enough momentum & the Pattern to enter... which you will learn by practicing or spending enough time on the chart...


3. Depending on my confidence level & the market condition i decide the LOT Size... for Re-Entries its always less than the classic entries,
when i say 485 to 1823 pips.... that's the total pips generated from this method for a month irrespective of entries that i made in a month.

4. Heikenashi will discuss soon.... please wait

5. I've Tested this only on AU.... it gave me enough entries for a month so i stayed with it....

Hope this clears all your doubts...

FX-Pro
  • #57
  • Sep 14, 2012 2:24am Sep 14, 2012 2:24am
Hi Fx pro,

Nice trade you posted here.Personally I was very unlucky as I have been on many accassions. I was waiting for markets to settle down and take a direction for me to make an entry then my internet connection was lost. Tried and tried but nothing could work. I guess this is what you get when you live in these developing countries. I check the charts this morning and I only shake my head at what could have been.

Coming to your system, What are the best trading times? Asian market time? Because from my observation, minus news breaks, AUD/USD moves more during Asian trading time.

Thanks and regards
  • #58
  • Sep 14, 2012 2:32am Sep 14, 2012 2:32am
Quoting johNal
Hi Fx pro,

Nice trade you posted here.Personally I was very unlucky as I have been on many accassions. I was waiting for markets to settle down and take a direction for me to make an entry then my internet connection was lost. Tried and tried but nothing could work. I guess this is what you get when you live in these developing countries. I check the charts this morning and I only shake my head at what could have been.

Coming to your system, What are the best trading times? Asian market time? Because from my observation, minus news breaks,...
Thanks...

I look for steady clear chart.... with AUD i find Asian is the best time to look for entries... it does not mean that i dont trade any other market... i do... but if you observe my trading style.... that will go for days some time.... so i really don't bother much about the session....

Cheers.
FX-Pro
  • #59
  • Sep 14, 2012 2:45am Sep 14, 2012 2:45am
Hi FX-Pro,

Thank you for sharing your good expirience for free. Do you mind also to explain how you deal in the situations like this, which occurs frequently rather than strong moves you have been showing so far.

Thank you in advance.
Attached File(s)
File Type: pdf 9-13-2012 8-50-06 PM.pdf   10 KB | 1,427 downloads
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  • #60
  • Sep 14, 2012 2:46am Sep 14, 2012 2:46am
FxPro

Thanks for sharing the system.

In order to net a trade per day I am trying out on various currency pairs . I have attached an indicator (downloaded from the Dance strategy thred) which alerts you when price approaches EMA . That way you do not need to keep watching all charts. Currently the only immin en ttrade seems to be on the GB-CHF chart. What do you think?
Attached File(s)
File Type: mq4 Near MA Alert.mq4   4 KB | 1,719 downloads
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