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Simple Money Making Method

  • #161
  • Sep 16, 2012 10:17pm Sep 16, 2012 10:17pm
Quoting Ramjet
Hi ya FX Pro..

Could you please put a couple of chart examples when you get a chance of when you would take the first trade after the Ema's have crossed over giving a different direction in trend...showing the first entry you would take also where you would place your stop?..

Thanks for any help on this

Cheers,
Adrian
My Next entry will give all this info... so please stay with us

Cheers
FX-Pro
  • #162
  • Sep 16, 2012 10:22pm Sep 16, 2012 10:22pm
FX I know you don't trade the USD/Cad but looks like a classic set up.Look
nice retrace to enter with dominate down trade
Attached Image (click to enlarge)
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In trading, you have to be defensive and aggressive at the same time
  • #163
  • Sep 16, 2012 10:44pm Sep 16, 2012 10:44pm
Quoting Davit
FX I know you don't trade the USD/Cad but looks like a classic set up.Look
nice retrace to enter with dominate down trade

Ya... good one.

but wait for the price to close below the RN & then u can go for it Please take this On DEMO,

I never traded this pair & the asian session may not be good for this pairs.

Good Luck to you
FX-Pro
  • #164
  • Sep 16, 2012 10:46pm Sep 16, 2012 10:46pm
Quoting Davit
FX I know you don't trade the USD/Cad but looks like a classic set up.Look
nice retrace to enter with dominate down trade
Hey Davit..

I was looking at that one this morning to waiting as I noticed it was going into a nice Daily TF resistance level to..

I feel this could be used on a lot of different pairs just a matter of doing some back testing and getting your head around using the system and its nuances..

Cheers,
Adrian
  • #165
  • Sep 16, 2012 10:57pm Sep 16, 2012 10:57pm
Ramjet

Initially, I had a similar question to you re the chart posted on Page 1 in Post number 15, however it became clearer when I looked at it the next day and today FX-Pro clarified the situation completely in Post number 142 on Page 10 where he gave us a diagram of the Basic Concept of SM3.

If you look at the diagram you will see that the first three trades were Short following Price Action Confirmation. Then we see there is a moving average crossover which did not trigger a change in direction and so no trade until the market pulled back and bounced off the moving average and in so doing the direction of the market changed to LONG and triggered long entires (with price action confirmation).

If you then go back to the chart on page 1 that triggered your question, you will see that the first crossover is just that with no follow through bounce off the 72 moving average (though there was a bounce off the 12ma, but that does not change the direction).

The third rectangle highlighted was just a m/av crossover with no follow through of a bounce to give a change in direction trade. You might say that the market bounced off the 72ma in rectangle number 4, so that changed the direction of the market, BUT, there was no close above the 12ma, so in my opinion the direction of the market is still down.

The 5th rectangle just highlighted a moving average crossover and referring back to the diagram given in Post 142 that by itself does not trigger a change in direction as there was no Price Action Conformation.

This is my reading of the chart. I'm sure if FX-Pro disagrees he will correct my interpretation.

I hope this helps.

Di
  • #166
  • Sep 16, 2012 11:09pm Sep 16, 2012 11:09pm
Quoting duffy
Ramjet

Initially, I had a similar question to you re the chart posted on Page 1 in Post number 15, however it became clearer when I looked at it the next day and today FX-Pro clarified the situation completely in Post number 142 on Page 10 where he gave us a diagram of the Basic Concept of SM3.

If you look at the diagram you will see that the first three trades were Short following Price Action Confirmation. Then we see there is a moving average crossover which did not trigger a change in direction and so no trade until the market pulled back...
Excellent... you got the point... keep reading the price actions... they are the key for this method

In course of time you will learn the language "PRICE ACTION".... then you don’t need a translator (Indicators) to understand the PA.

Good One

Keep Going…
FX-Pro
  • #167
  • Sep 16, 2012 11:16pm Sep 16, 2012 11:16pm
Fxpro.simple and powerfull.lets test how long this system can last.
Thank you
  • #168
  • Sep 16, 2012 11:20pm Sep 16, 2012 11:20pm
Quoting duffy
Ramjet

Initially, I had a similar question to you re the chart posted on Page 1 in Post number 15, however it became clearer when I looked at it the next day and today FX-Pro clarified the situation completely in Post number 142 on Page 10 where he gave us a diagram of the Basic Concept of SM3.

If you look at the diagram you will see that the first three trades were Short following Price Action Confirmation. Then we see there is a moving average crossover which did not trigger a change in direction and so no trade until the market pulled back...
Hey Duffy..

Awesome!!..thanks so much for that in depth answer..that made it all clear for me!

much appreciated!

Cheers,
Adrian
  • #169
  • Sep 16, 2012 11:27pm Sep 16, 2012 11:27pm
Hi ya FX-Pro..

Quote
Excellent... you got the point... keep reading the price actions... they are the key for this method
When you say PA are you saying it in the manner of like the James16 thread of watching out only for PB's, BUOB, etc...or are you saying any strong bearish or bullish bars closing across the 12EMA after bouncing off the 72EMA?

Quote
In course of time you will learn the language "PRICE ACTION".... then you don’t need a translator (Indicators) to understand the PA.
Are you saying you look at the PA as King first and just add the EMA indicators as an extra bit of confirmation/confluence but would just use a PA bar over the EMA indicators in certain scenarios?

Many thanks

Cheers,
Adrian
  • #170
  • Sep 16, 2012 11:28pm Sep 16, 2012 11:28pm
Quoting Ramjet
Hey Davit..

I was looking at that one this morning to waiting as I noticed it was going into a nice Daily TF resistance level to..

I feel this could be used on a lot of different pairs just a matter of doing some back testing and getting your head around using the system and its nuances..

Cheers,
Adrian
The only reluctance I have shorting this pair is because its way oversold.It is poised to shoot up any day,time,hr.
I am long biased on this pair.I am even thinking building a long position in small lots once I see any weakness in down trend.
So from this method it looks good but from fundamental perspective I can't short it.
In trading, you have to be defensive and aggressive at the same time
  • #171
  • Sep 16, 2012 11:33pm Sep 16, 2012 11:33pm
Quoting Davit
The only reluctance I have shorting this pair is because its way oversold.It is poised to shoot up any day,time,hr.
I am long biased on this pair.I am even thinking building a long position in small lots once I see any weakness in down trend.
So from this method it looks good but from fundamental perspective I can't short it.
You could be right but I've been burnt to many times to have any bias any more in the markets.. I'd rather just trade what the method or system is showing me now be it wrong or right I don't know what the market is going to do....trying to pick bottoms was never been my forte
  • #172
  • Sep 17, 2012 12:14am Sep 17, 2012 12:14am
Quoting Ramjet
Hi ya FX-Pro..

When you say PA are you saying it in the manner of like the James16 thread of watching out only for PB's, BUOB, etc...or are you saying any strong bearish or bullish bars closing across the 12EMA after bouncing off the 72EMA?
Adrian
With this method A Strong Bearish/Bullish Candle would do, however if you have extra confirmation with the patterns would be much better.

I'm a fan of Steve nison study materials… on Price action & Trading in the Zone by MARK DOUGLAS, combination of these two made me to develop this method.

Quoting Ramjet
Are you saying you look at the PA as King first and just add the EMA indicators as an extra bit of confirmation/confluence but would just use a PA bar over the EMA indicators in certain scenarios?

Adrian
EMAs are placed just to get a visual feel of the trend, so when the price bounces from the main trend, I see that as a potential trade…

Cheers
FX-Pro
  • #173
  • Sep 17, 2012 12:33am Sep 17, 2012 12:33am
Excellent!..thanks for clearing that up

Quoting FX-Pro
I'm a fan of Steve nison study materials… on Price action & Trading in the Zone by MARK DOUGLAS, combination of these two made me to develop this method.
100% agree, both of these authors have excellent material that should be studied by all traders..

Cheers,
Adrian
  • #174
  • Sep 17, 2012 12:53am Sep 17, 2012 12:53am
Hi Fx-Pro,
Do you consider the last pattern of AUD /USD a valid bounce , since it has not touched the 72 EMA before bouncing back over the 12 EMA ?
  • #175
  • Sep 17, 2012 1:24am Sep 17, 2012 1:24am
Quoting Moreol
Hi Fx-Pro,
Do you consider the last pattern of AUD /USD a valid bounce , since it has not touched the 72 EMA before bouncing back over the 12 EMA ?
Nope...

I look for a bounce + strong momentoum, both are missing..

Cheers
FX-Pro
  • #176
  • Edited 8:28pm Sep 17, 2012 2:35am | Edited 8:28pm
This may work as breaking out of a congestion area and target at Daily Resistance level..

Update: Loss
stopped out although price moved about 26pips in my direction the spread was 8pips so was 2pips shy of getting to BE at +20
Attached Image (click to enlarge)
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  • #177
  • Sep 17, 2012 2:44am Sep 17, 2012 2:44am
Quoting Ramjet
This may work as breaking out of a congestion area and target at Daily Resistance level..
Yes that is a clasic setup... again i havent traded anything apart from A/U... so please test this before applying it on different pairs...

Good One
FX-Pro
  • #178
  • Sep 17, 2012 3:08am Sep 17, 2012 3:08am
Quoting FX-Pro
Yes that is a clasic setup... again i havent traded anything apart from A/U... so please test this before applying it on different pairs...

Good One
FX-Pro
No probs FX as testing in Demo on different pairs to see it's reliability with other pairs ..
If I lose I'll send you the Bill!
  • #179
  • Sep 17, 2012 3:20am Sep 17, 2012 3:20am
Quoting FX-Pro
Nope...

I look for a bounce + strong momentoum
Two questions:
1. How rigid do you define bounce? In an downtrend what if price closes above the EMA72 and then resumes the downtrend, would you enter?

2. You mentioned a max. SL of 35. In my backtests over the weekend I was stopped out with 35 most of the times, if I enter after the close of the candle that crosses the EMA12. Do you enter before the close?

Thanks for sharing your method!

gary
Attached Image (click to enlarge)
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  • #180
  • Sep 17, 2012 3:21am Sep 17, 2012 3:21am
Quoting Ramjet
No probs FX as testing in Demo on different pairs to see it's reliability with other pairs ..
If I lose I'll send you the Bill!

.... i would be happy if you guys could post the results of different pairs as well.... so that every on can learn including me

Thanks in advance
FX-Pro
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