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Simple Money Making Method

  • #101
  • Sep 14, 2012 2:33pm Sep 14, 2012 2:33pm
Quoting Fx_Pipin
I agree and I am glad you understand that concept.

I hope you also understand that Fx-Pro mentions to trade the trend starting on post 1. He never mentioned that it works on a choppy markets or to trade choppy market.

In simpler words only trade when the market is trending and you will have great results. ( do not trade in choppy markets and your account wont die)


Happy trading a!!
The problem is ..you do not it is a chop, until you are in it...ma's constantly crossing, making a trader feel that trend is beginning...
  • #102
  • Sep 14, 2012 2:50pm Sep 14, 2012 2:50pm
Quoting driven18
The problem is ..you do not it is a chop, until you are in it...ma's constantly crossing, making a trader feel that trend is beginning...
This is true, and this is where you would lose 20% of the time or more depending on experience.
  • #103
  • Sep 14, 2012 3:08pm Sep 14, 2012 3:08pm
Quoting Fx_Pipin
This is true, and this is where you would lose 20% of the time or more depending on experience.
Do not kid yourself....chops eat 40% of the account with this technique and one have to be very experienced in mental and financial toughness to withstand it....

Take a look at the very first chart in this thread...even to get into the trade one had to withstand small chop around 12 ma on the second red dot short signal......

http://www.forexfactory.com/attachme...8&d=1347536206
  • #104
  • Sep 14, 2012 8:15pm Sep 14, 2012 8:15pm
Never underestimate the Golden Rule in trading:" Everything works sometimes"..
  • #105
  • Sep 14, 2012 10:02pm Sep 14, 2012 10:02pm
Quoting driven18
Do not kid yourself....chops eat 40% of the account with this technique and one have to be very experienced in mental and financial toughness to withstand it....

Take a look at the very first chart in this thread...even to get into the trade one had to withstand small chop around 12 ma on the second red dot short signal......

http://www.forexfactory.com/attachme...8&d=1347536206
Hi ya Driven18..

In the first post FX-Pro mentions PA and S/R..I think these 2 principles are key to learn with any system as I have used and tried different MA systems over the years trying to find something that fits my personality and as you say yes we will get chopped up in a MA system when in a ranging market....however I'm not sure of your experience at trading with PA and S/R levels but that was a key I learnt that made a big difference in my trading with MA's and not losing so much or any in congestion..and add the MA's for that extra bit of confluence and confidence to stay in the trade..

If a market is to choppy all together move on and find something smoother that works with it, A/U, N/U great pairs for this but I use it for the FTSE, Gold, shares, loads of instruments to trade just a matter of finding the MA's that suit you and throwing in PA and S/R for confluence and you have a pretty good cocktail once you back test it and get use to it..

Hope this helps

Cheers,
Adrian
  • #106
  • Sep 15, 2012 1:09am Sep 15, 2012 1:09am
The old pattern here..one start a good thread then soon some follow the strategy & other "attack" him ..salute for fx-pro hope u just continue this thread and other that follow this strategy can get better & better..Strategy just a tools..success or not depend on the skills of the guy who use it..Hv a nice weekend..
  • #107
  • Sep 15, 2012 2:20am Sep 15, 2012 2:20am
Quoting andri66
The old pattern here..one start a good thread then soon some follow the strategy & other "attack" him ..salute for fx-pro hope u just continue this thread and other that follow this strategy can get better & better..Strategy just a tools..success or not depend on the skills of the guy who use it..Hv a nice weekend..
Absolutely right, you generally find also that the people 'bitching' never post anything anywhere that is constructive or helpful - nor are they willing to share anything they do.
I've often thought the 'moaners' (as I call them) are just failed traders jealous of other peoples enthusiasm - or even success.
I think they haunt the forums in the hope of coming up with a 'magic bullet' that will rescue their devastated accounts and salvage some personal pride - ain't gonna happen though is it,,,,
They show up on most threads at some point. I guess it's probably best to ignore them, then they can either start trading the system or toddle off elsewhere.
Don't ask me, I have no idea what's going on.
  • #108
  • Sep 15, 2012 3:21am Sep 15, 2012 3:21am
Quoting Fx_Pipin
I agree and I am glad you understand that concept.

I hope you also understand that Fx-Pro mentions to trade the trend starting on post 1. He never mentioned that it works on a choppy markets or to trade choppy market.

In simpler words only trade when the market is trending and you will have great results. ( do not trade in choppy markets and your account wont die)


Happy trading a!!
I think the major challenge in FX trade is how to know when the trend begins and when it stops. Try this method on the history, but be honest. Once you appear on a choppy market your account will blow up. The problem that the beginners usually have is when they get a new method for some reason they ignore the "choppy markets", but instead get excited when they see the method looks great.
Enter Signature
  • #109
  • Sep 15, 2012 3:24am Sep 15, 2012 3:24am
hi friends,
i'm a fan of ma method,
obviously not every rejection of ma could work,
i'm looking for a filter:
perhaps some stock, rsi or similar, even if i know they are not "perfect",
but... hey, if we find a filter....
  • #110
  • Sep 15, 2012 3:28am Sep 15, 2012 3:28am
Quoting Gizzledonk
I'm new here too, if you're interested I've attached a nice simulator that I'm planning to use over the weekend on this system, I've downloaded a new metatrader and opened a demo account specially for it. I've used it before and it's excellent. Should be very useful for this one as no EA's are used and it's not a 'dual time frame' like my other system.

Have fun,

***Edit,, instructions are in the zip***
Hi ya Gizzledonk..

Could you help please, this simulator I'm thinking it's the same one I tried about a year ago but not 100% sure..the one I tried I couldn't drag up any pair and trade it instantly as had to wait for it to load up on each pair also every time I changed between TF's I had to wait for it to load again..would this be the same simulator??
Since using it I went out and bought Forextester which is an excellent program however I would prefer to test directly in MT4..

Thanks for any help you could offer

Cheers,
Adrian
  • #111
  • Sep 15, 2012 3:31am Sep 15, 2012 3:31am
Quoting Gizzledonk
Absolutely right, you generally find also that the people 'bitching' never post anything anywhere that is constructive or helpful - nor are they willing to share anything they do.
I've often thought the 'moaners' (as I call them) are just failed traders jealous of other peoples enthusiasm - or even success.
I think they haunt the forums in the hope of coming up with a 'magic bullet' that will rescue their devastated accounts and salvage some personal pride - ain't gonna happen though is it,,,,
They show up on most threads at some point. I guess...
Hmm, probably you should have checked my posts before making this statement. I have been providing the traders with my predictions and they were 100% accurate.
Enter Signature
  • #112
  • Sep 15, 2012 3:55am Sep 15, 2012 3:55am
Quoting Ramjet
Hi ya Gizzledonk..

Could you help please, this simulator I'm thinking it's the same one I tried about a year ago but not 100% sure..the one I tried I couldn't drag up any pair and trade it instantly as had to wait for it to load up on each pair also every time I changed between TF's I had to wait for it to load again..would this be the same simulator??
Since using it I went out and bought Forextester which is an excellent program however I would prefer to test directly in MT4..

Thanks for any help you could offer

Cheers,
Adrian
Hi,

It sounds like it could be the same one; you do have to load the pair on a single time frame and that takes a little time.
(picture attached)
Within the limitations of that it workds really well and particularly on this method it is helping me a lot.
I am not able to use it on my dual time frame system or some others, I've been thinking about buying an 'external' simulator for a while now, found it hard to cut through the hype and figure out which would be a good investment.
I downloaded an MT4 especially for this test with this sim.
It only takes a moment to copy the template and any Indicators into the new one and you'd up up-and-going in about ten minutes.
With the results I'm getting I'd recommend doing that in this instance.

Hope that helps,
Attached Image
Don't ask me, I have no idea what's going on.
  • #113
  • Sep 15, 2012 3:56am Sep 15, 2012 3:56am
Quoting V_s
Hmm, probably you should have checked my posts before making this statement. I have been providing the traders with my predictions and they were 100% accurate.
You Predict…?

None can predict the market please understand that…
  • #114
  • Sep 15, 2012 3:57am Sep 15, 2012 3:57am
Quoting V_s
Hmm, probably you should have checked my posts before making this statement. I have been providing the traders with my predictions and they were 100% accurate.
Sorry, did you think I meant you? I was making a general point,

but your predictions are 100% accurate? please share more,,,,
Don't ask me, I have no idea what's going on.
  • #115
  • Sep 15, 2012 4:25am Sep 15, 2012 4:25am
Quoting Gizzledonk
Hi,

It sounds like it could be the same one; you do have to load the pair on a single time frame and that takes a little time.
(picture attached)
Within the limitations of that it workds really well and particularly on this method it is helping me a lot.
I am not able to use it on my dual time frame system or some others, I've been thinking about buying an 'external' simulator for a while now, found it hard to cut through the hype and figure out which would be a good investment.
I downloaded an MT4 especially for this test with this sim.
It only...
Hi ya Gizzledonk..

Thanks so much for all this explanation, much appreciated!
Yep, sounds like the one I used before..
As yourself I like to do multi TF trading and I found that a bit of an annoyance for it to re-load every time I flicked through TF's..

Quote
I've been thinking about buying an 'external' simulator for a while now, found it hard to cut through the hype and figure out which would be a good investment.
If your interested in a program for simulation I found Forextester to be the best as it is as close to MT4 as we can get also a lot of other traders I spoke to have it and are well happy with it..

Great to see your having good results with this system in your testing!

Cheers,
Adrian
Attached Image (click to enlarge)
Click to Enlarge Name: Forextester.png Size: 44 KB
  • #116
  • Sep 15, 2012 4:42am Sep 15, 2012 4:42am
Like all methods based on MA work in a trending market. In the case of yesterday, Friday, put a simple MA 12 or 14 times and purchased above and sell below. You will see great results. Yesterday did not win pips who did not initiate any position. The difficle of each method is to identify whether we are in trend or consolidation. In the case of consolidation, I am afraid that this method, like all those based on MA, leading to heavy losses. Remember that just a 3 or 4 loss of 30-40 pips the one to defeat a trend of 100 pips. This is my thought.
  • #117
  • Sep 15, 2012 4:56am Sep 15, 2012 4:56am
Quoting Matrix8756
Like all methods based on MA work in a trending market. In the case of yesterday, Friday, put a simple MA 12 or 14 times and purchased above and sell below. You will see great results. Yesterday did not win pips who did not initiate any position. The difficle of each method is to identify whether we are in trend or consolidation. In the case of consolidation, I am afraid that this method, like all those based on MA, leading to heavy losses. Remember that just a 3 or 4 loss of 30-40 pips the one to defeat a trend of 100 pips. This is my thought.
Lets think now - if you have one losing buy move, followed by one immediate losing short move, this might raise the suspicion that we might be in for a chop period. Additionally, one could look at previous consolidation periods to the left that is above/below current price. Maybe big round numbers are within price range etc. etc.
For goodness sake Matrix and other critics -your criticism is only welcome on a subject if it is constructive! A simple "it will not work because" is of no use in a discussion forum.
So - how would you critics go about solving the "problems" you highlighted ?
every Saint has a past. Every Sinner has a Future
  • #118
  • Sep 15, 2012 4:57am Sep 15, 2012 4:57am
I congratulate you on this thread I use a very similar system to you slightly different MA's but in many aspects similar. May I suggest that you multiply your profits by adding at the 72 MA and building a position. In this way you can make a lot of money for little risk.

On the support and resistance side I would suggest that you use daily and weekly levels as these can be very powerful resistance and usually markets go from one weekly level to the next.

Also once I see three strong pushes or four I am waiting for a sideways period, this might help keep you out of those 20% of losing trades.

http://screencast.com/t/JbBYZyeX

Great work well done

Mike Haran
  • #119
  • Sep 15, 2012 5:03am Sep 15, 2012 5:03am
Thanks for the Trade Simulator you posted.

I'll give it a try with back testing.

I'm well aware that there can be gaps in data with some of the metatrader charts, some of them quite large, so back testing has limitations.

The results for FX-Pro since using this method over the past 2 years have been great. Personally I like doing some back testing to get "a feel" for the system and to see if the cross overs and entries occur during my night time and re-entries during my day time, or vice versa or neither one nor the other.

Here's to next next trends.
  • #120
  • Sep 15, 2012 5:03am Sep 15, 2012 5:03am
Quoting Mike Haran
I congratulate you on this thread I use a very similar system to you slightly different MA's but in many aspects similar. May I suggest that you multiply your profits by adding at the 72 MA and building a position. In this way you can make a lot of money for little risk.

On the support and resistance side I would suggest that you use daily and weekly levels as these can be very powerful resistance and usually markets go from one weekly level to the next.

Also once I see three strong pushes or four I am waiting for a sideways period, this might...
Well said Mike - some constructive critical input.
every Saint has a past. Every Sinner has a Future
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