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Simple Money Making Method

  • #181
  • Sep 17, 2012 3:47am Sep 17, 2012 3:47am
Quoting gms
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?
For Sell I Look For
72EMA, 12EMA & Price One below the other & viceversa for Buy

Quoting gms
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?
I Started with 50 SL... & fine tuned upto 20 now... so you have to practice to get there....


On the Chart Only the first & second one is the valid entry, & the second one is a fail trade!
  • #182
  • Sep 17, 2012 3:58am Sep 17, 2012 3:58am
Guys...

I need to go out & will be back in next two hrs...

Thanks.
  • #183
  • Sep 17, 2012 4:00am Sep 17, 2012 4:00am
Quoting FX-Pro
Guys...

I need to go out & will be back in next two hrs...

Thanks.
Don't forget the drinks!!
  • #184
  • Sep 17, 2012 5:09am Sep 17, 2012 5:09am
Nice simple effective system. Just had one question. (NOT A HATER )

in ur 2nd post, u said something about a re-entry trade setup. But a few posts back you said u never trade once you lose. Just to make it clear, you were talking about re-entry once your in a winning trade only right?


Best Regards!! keep it up!
  • #185
  • Sep 17, 2012 6:19am Sep 17, 2012 6:19am
if you only trade once there is a bounce off 72 ema, then the trades are few and far between. i dont see a bounce off 72 ema for a few days...
  • #186
  • Sep 17, 2012 6:36am Sep 17, 2012 6:36am
Quoting Outrage
Nice simple effective system. Just had one question. (NOT A HATER )

in ur 2nd post, u said something about a re-entry trade setup. But a few posts back you said u never trade once you lose. Just to make it clear, you were talking about re-entry once your in a winning trade only right?


Best Regards!! keep it up!
Yes you are right....

Once after you close your winning trade... you dont need to wait for the next 72EMA bounce, you can re-enter from any of the support/Resistance with price action confirmation....

Regards,
FX-Pro
  • #187
  • Sep 17, 2012 6:38am Sep 17, 2012 6:38am
Quoting Ramjet
Don't forget the drinks!!
Sure A special drink for Ramjet!!
  • #188
  • Edited 7:19am Sep 17, 2012 6:53am | Edited 7:19am
Quoting whatfx
if you only trade once there is a bounce off 72 ema, then the trades are few and far between. i dont see a bounce off 72 ema for a few days...
Absolutely right.... however by this way... i look for high potential trade & make enough pips i need for a month... i'm sure that this is what the ultimate target for every trader....

any ways... now that I've posted this method... here... the ideas will flow from different talented traders... so that we can take this to the next level...

cheers...
FX-Pro
  • #189
  • Sep 17, 2012 7:01am Sep 17, 2012 7:01am
Folks....

Time to watch...

Looking for a trade here...

Good luck to all
FX-Pro
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  • #190
  • Sep 17, 2012 7:05am Sep 17, 2012 7:05am
Quoting FX-Pro
Folks....

Time to watch...

Looking for a trade here...

Good luck to all
FX-Pro
If the US open gives a bull candle.... But guys remember, we are at the roof of the down trend on Weekly + on a resistance zone on Daily... hence we may not make much pips on this unless the price breaks the resistance...

Good Luck to all
FX-Pro
  • #191
  • Sep 17, 2012 7:09am Sep 17, 2012 7:09am
Quoting FX-Pro
If the US open gives a bull candle.... But guys remember, we are at the roof of the down trend on Weekly + on a resistance zone on Daily... hence we may not make much pips on this unless the price breaks the resistance...

Good Luck to all
FX-Pro
Keeping an eye!
  • #192
  • Sep 17, 2012 7:11am Sep 17, 2012 7:11am
Quoting FX-Pro
If the US open gives a bull candle.... But guys remember, we are at the roof of the down trend on Weekly + on a resistance zone on Daily... hence we may not make much pips on this unless the price breaks the resistance...

Good Luck to all
FX-Pro
Unlikely for a bull candle. D1 shows that a downtrend has just started.
  • #193
  • Sep 17, 2012 7:28am Sep 17, 2012 7:28am
Would be a real good trade, if closes above the 12EMA...

this is the advantage on 1H you get enough time to think & enter + high potential....


Cheers
FX-Pro
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  • #194
  • Sep 17, 2012 7:57am Sep 17, 2012 7:57am
Quoting FX-Pro
Would be a real good trade, if closes above the 12EMA...

this is the advantage on 1H you get enough time to think & enter + high potential....


Cheers
FX-Pro
Look at the USD/CAD H1. What do you think?
  • #195
  • Sep 17, 2012 8:03am Sep 17, 2012 8:03am
Quoting tsipouro
Look at the USD/CAD H1. What do you think?
Bad idea to enter there as the RN is just 9 pips away... not enough room to make pips...
  • #196
  • Sep 17, 2012 8:20am Sep 17, 2012 8:20am
Folks....

I'm trying the re-entry method on E/U, let see if it works....

The price bounced from a small support+RN... & closed above 12EMA...

Cheers,
FX-Pro
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  • #197
  • Sep 17, 2012 8:51am Sep 17, 2012 8:51am
Quoting FX-Pro
Folks....

I'm trying the re-entry method on E/U, let see if it works....

The price bounced from a small support+RN... & closed above 12EMA...

Cheers,
FX-Pro
Looks like you got some success with this one!
  • #198
  • Sep 17, 2012 8:56am Sep 17, 2012 8:56am
Quoting FX-Pro
Folks....

I'm trying the re-entry method on E/U, let see if it works....

The price bounced from a small support+RN... & closed above 12EMA...

Cheers,
FX-Pro
same entry with me..good system..i have tried this for 2 day and it look nice.. ^_^.. i add MA 315 into your system for me to view the large movement ^_^..

p/s..sory for my poor english..
  • #199
  • Sep 17, 2012 9:11am Sep 17, 2012 9:11am
Quoting FX-Pro
Folks....

I'm trying the re-entry method on E/U, let see if it works....

The price bounced from a small support+RN... & closed above 12EMA...

Cheers,
FX-Pro
Could you recommend a nice daily pivots indicator to use with your template?
  • #200
  • Sep 17, 2012 9:13am Sep 17, 2012 9:13am
Quoting FX-Pro
Folks....

I'm trying the re-entry method on E/U, let see if it works....

The price bounced from a small support+RN... & closed above 12EMA...

Cheers,
FX-Pro
Update:-

This gave us a minimum required pips... 50 Pips exactly, so closed the first half of the position.... the other half is riding with BE...

But this one will give us A BE I Guess... the Bulls are finding difficult to break yesterday's high...

lets see...

Cheers,
FX-Pro
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