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Simple Money Making Method

  • #121
  • Sep 15, 2012 5:10am Sep 15, 2012 5:10am
Hey Mike..

Good stuff!

Quote
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.
Are you saying to add to a position if in a strong trend and having a tight stop of say 10-15pips above/below incase it carries on against you through the 72ema?
Quote
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.
100% agree!

Cheers,
Adrian
  • #122
  • Sep 15, 2012 5:13am Sep 15, 2012 5:13am
Quoting Te-Wies
You Predict…?

None can predict the market please understand that…

Of course people can predict the market, you never know 100% if it will work out but the market is not random. Only people that have little knowledge of the markets and their cycles think the markets are not predictible.

Mike Haran
  • #123
  • Sep 15, 2012 5:14am Sep 15, 2012 5:14am
Quoting turnip15
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...
Turnip15 mine was not a criticism, it's just a personal observation after years of trading with MA. In a nutshell is my personal conclusion that the MA sunglasses look great and are very easy in a market trend, and the facts prove it. In a market side / consolidamente not work simply because the MA do so. Try to use the simulator and see the result. I do not have the solution, also because I think there is. Personally I add to my charts also indicators of support / resistance, Pivot, just to try to identify the possible side moments, especially with TF 1H where it amplifies everything, both the gain and the loss. That's it.
  • #124
  • Sep 15, 2012 5:14am Sep 15, 2012 5:14am
Quoting Ramjet
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..

Cheers,
Adrian
Many thanks for the reccomendation, I see they do a trial version which I shall play with for a bit before parting with my cash.
Don't ask me, I have no idea what's going on.
  • #125
  • Sep 15, 2012 5:21am Sep 15, 2012 5:21am
Quoting Gizzledonk
Many thanks for the reccomendation, I see they do a trial version which I shall play with for a bit before parting with my cash.
Hi ya..

Wasn't impressed with there trial version as only 3 months of data when I tried it.. but at least you'll see what is available in the program

Cheers,
A
  • #126
  • Sep 15, 2012 9:23am Sep 15, 2012 9:23am
Hi,
thanks for the setup.
A similar system was posted on FF some years ago.

pls look at
http://www.forexfactory.com/showthread.php?t=26205
  • #127
  • Sep 15, 2012 9:45am Sep 15, 2012 9:45am
Quoting V_s
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.
Once again I agree with the major challenge in regards to a choppy market. But why point out the obvious??

This is a trend system meaning that it does not work in a choppy market per say. So if its clear that it is a trend system and clear that it does not work well in a choppy market why harp on that?

I think this is a great trend following system and if you have issues identifying a ranging market as it approaches you should not trade this system or waste time on this forum pointing out the obvious.

As for as the newbies demo trade this of course so that your real money account does not blow up. Have a good risk to reward ratio and stop trading if the market starts going sideways and you will be successful!
  • #128
  • Sep 15, 2012 9:50am Sep 15, 2012 9:50am
Quoting turnip15
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...
Well said!

Thank you
  • #129
  • Sep 15, 2012 10:45am Sep 15, 2012 10:45am
Quoting FX-Pro
Except the Second & the Last one i don't see any other entries are valid entries... because i also look for 12EMA to Cross the 72EMA,
Do you mean you also enter on the cross of the EMAs?
So if the EMAs don't cross your entry signal is the price bounce from EMA72 plus cross back over EMA12, and if the EMAs cross, you enter in the other direction?

gary
  • #130
  • Sep 15, 2012 7:41pm Sep 15, 2012 7:41pm
thanks a good method
  • #131
  • Sep 15, 2012 8:15pm Sep 15, 2012 8:15pm
Quoting liupansheng
thanks a good method

In a trending market anyone can make money with ANY combination of ma's...it is going up or down..simple...here is something constructive I came up with....you will loose money in chop markets with ma systems..not sure how more constructive I can be....no matter what you do, with any ma system you will loose money in chop markets....now, the SOLUTION:

The only defense against it...make your losses smaller and prey that next trend will be long enough for you to recover and make more money the lost in a CHOP
  • #132
  • Sep 15, 2012 10:12pm Sep 15, 2012 10:12pm
Does anyone know what this indicator is?
Attached Image (click to enlarge)
Click to Enlarge Name: Screen shot 2012-09-15 at 10.05.01 PM.png Size: 120 KB
  • #133
  • Sep 16, 2012 4:27am Sep 16, 2012 4:27am
Quoting dsperry
Does anyone know what this indicator is?
They are 2 MTF (Multi Time Frame) matrixes of the same indicator (I imagine), one on top of the other.
They shows you at a glance what the indicator is doing in 8 different TFs (starting from the top: M W1 D1 H4 H1 M30 M15 M5) so at the moment (last candle) that indicator is bullish (blue dots) in all the TFs except the Daily (D1) where it is bearish (red dot).
It's impossible to tell which particular indicator it is given that we can't even see which FX pair it's been applied to....
  • #134
  • Sep 16, 2012 4:37am Sep 16, 2012 4:37am
To prevent trading in choppy markets one can use HA killing zone indi.
Grey candles are NO trading zone.
Attached File(s)
File Type: mq4 HeikenAshiZoneTrade.mq4   8 KB | 1,478 downloads
In trading, you have to be defensive and aggressive at the same time
  • #135
  • Sep 16, 2012 7:18am Sep 16, 2012 7:18am
Thank you for commenting. Interesting indicator.
  • #136
  • Sep 16, 2012 7:54am Sep 16, 2012 7:54am
Quoting Davit
To prevent trading in choppy markets one can use HA killing zone indi.
Grey candles are NO trading zone.
Hi Davit,
Thanks for posting HA Zone indicator. Do you have links or references to explain when/why it switches from red/blue to grey (it looks good but I like to know why/how something happen).
Thank you in advance
  • #137
  • Sep 16, 2012 8:00am Sep 16, 2012 8:00am
Quoting IgorD
Hi Davit,
Thanks for posting HA Zone indicator. Do you have links or references to explain when/why it switches from red/blue to grey (it looks good but I like to know why/how something happen).
Thank you in advance
Found some but thanks anyway again:
http://codebase.mql4.com/6029
  • #138
  • Sep 16, 2012 8:18am Sep 16, 2012 8:18am
Wow…. So huge discussion on the weekend….

So it’s my turn to make few things clear

Ok my humble request to all the thread members….

We all are here to learn/share ideas with each other, so let’s follow the basic ethics & respect each other to keep the thread clean, henceforth every post should be constructive & related to this method.

This is a proven method already & fits my personality to trade, it’s not necessarily should work for everyone else, so if you think it will not work for you, you may look for a different method/system in FF.

Please remember this is a probability business, just like flipping a coin, hence for sure we will have losers, but it all depends on how well we manage to minimize the losers & maximize the winners.

This is a trend following method which requires lots of patience and discipline…but these are the two things which most people don’t have, the newbies may think it takes a long time to place a trade, but remember, we are here to make money not to create a record by placing highest numbers of trades,

For those who worry about the choppy market…

Please understand that, this is not a MA Crossover method; the key for this method is Price Action, the two moving averages are placed on the chart just to identify the trend.
If you guys find difficulty in reading the price action… you may use the heikenashi, which may help you to enter trade confidently,

Another important thing to mention,

If I take a loser I will not trade the entire day,

My dear members… this is one of the difficult part to practice in this business, because once you lose a trade your frustration level increases which will force you to take another trade without thinking, 99% it will give you another loser

So please practice this & trust me this will contribute to your account growth tremendously, because most people think that,

the important thing when trading Forex is to make money. NO! The important thing is to NOT LOSE money!

A small break... will be back soon...!

Cheers
FX-Pro
  • #139
  • Sep 16, 2012 8:40am Sep 16, 2012 8:40am
Quoting FX-Pro
Wow…. So huge discussion on the weekend….

So it’s my turn to make few things clear

Ok my humble request to all the thread members….

We all are here to learn/share ideas with each other, so let’s follow the basic ethics & respect each other to keep the thread clean, henceforth every post should be constructive & related to this method.

This is a proven method already & fits my personality to trade, it’s not necessarily should work for everyone else, so if you think it will not work for you, you may look for a different method/system...
Looking forward for catching something coming week, hopefully Monday
  • #140
  • Sep 16, 2012 8:50am Sep 16, 2012 8:50am
Quoting FX-Pro
Closed the position with 111 Pips...

Done for the week...
Pretty good profit on this trade! But why did you decide to close it now? There wasn't candle bar closing under the EMA12.

Thank you for all, we listen to you!
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