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Simple Money Making Method

  • #221
  • Sep 17, 2012 8:38pm Sep 17, 2012 8:38pm
Quoting Ramjet
lol, these ema's are all working in there own way as I've just placed a 150ema on the chart as I've always used that from the James16 teachings and found that to be the best of the ema's that I've used so far and it is perfectly poised holding price as support..
Difference is PA is Under 150EMA and Under 200 but above 72 .
Hmmmmm To be honest I am confused as to which MA is most important.I know that lot of banks use 200 respectfully as overall trend.

So FX perhaps you could explain why your 72MA is best suited.
In trading, you have to be defensive and aggressive at the same time
  • #222
  • Sep 17, 2012 8:40pm Sep 17, 2012 8:40pm
Quoting Davit
Difference is PA is Under 150EMA and Under 200 but above 72 .
Hmmmmm
Yep, it looks like it's reversing..I've moved the trade to BE to avoid any losses..

Problem is I feel we're doing these trades at the moment in crazy hours as it's unpredictable this time of the day/night as UK and US not very active now..
  • #223
  • Sep 17, 2012 8:47pm Sep 17, 2012 8:47pm
Quoting duffy
Hi Davit

I'm somewhat lost with your Usd / Cad trade.

The currency had been short and on 17 Sept we had a cross of the 12 and 72 ema. After the cross I cannot see that there has been a pull back and rejection off the 72ema which would show the direction had changed to long which would then require a close above the 12 ema to trigger the entry (taking into consideration and round numbers and S / R that may stop you from entering then).

I've re-visited the diagram posted by FX-Pro in Post 142 on page 10 and cannot see how you are already in the...
You are correct I missed the cross on 9715.I entered at 9745 and took profit on the spike minutes ego.
In trading, you have to be defensive and aggressive at the same time
  • #224
  • Sep 17, 2012 11:23pm Sep 17, 2012 11:23pm
Hi Forex Pro
I use Esignal as a charting package I cant seem to get the moving averages to look the same as yours ? I have no setting to get (the average trend) any Ideas ? Id like to backtest the strategy as it looks similar to something I already do however your win % is higher. I would like to compare both results to see if one can aid the other,

Many Thanks !!

Dave
  • #225
  • Edited 12:31am Sep 18, 2012 12:08am | Edited 12:31am
Ok Guys...

I had a bad connectivity... from yesterday.... finally its fixed now, so couldn't come online...

Any ways... that was very healthy conversation on the thread.... & couple of trades from different pairs... Great!

From the time we started this thread, i received lots of PMs with one common question... "why cant we apply this on the other pairs as well..."

So i applied this on the other pairs & did some homework... looks promising!
hence I've decided to apply this on the other pairs as well...

I request you all to suggest another 3 to 5 pairs, which has high liquidity + low spread, so that we can test this on the selected pairs...

why only 3 to 5 pairs?

Its important to concentrate only on few pairs... so that we can read the movement of the pairs & understand them properly.

I would like to test this with a small account say$100 & post the results on the thread for the benefit of all the thread members...

looking forward to hear from you guys....

Best Regards,
FX-Pro
  • #226
  • Sep 18, 2012 12:30am Sep 18, 2012 12:30am
Hi

Did I enter too early? or was it too late?

rgds
Attached Image (click to enlarge)
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Faith with Action
  • #227
  • Sep 18, 2012 12:36am Sep 18, 2012 12:36am
Quoting hinnavaru
Hi

Did I enter too early? or was it too late?

rgds
Hi ya Hinnavaru..

as per FX-Pro first post rules:
Entry :-

•Look for a Reject from 72 EMA
•Enter after the price closed above/Below the 12 EMA
•The entry Candlestick should be a Pinbar, Marubozu, Engulfing Pattern… Etc

I think you've forgotten to wait for a retest of the 72 before closing above the 12 for entry..very important I'm starting to see as keeps you out of a lot of fake outs...if you do a perusal over different pairs you will see that the 72 seems to save our bacon a lot

Cheers,
Adrian
  • #228
  • Sep 18, 2012 12:41am Sep 18, 2012 12:41am
Quoting Ramjet
Hi ya FX-Pro..

If you were to take this Cad trade would this be enough information to go on?

Entry at break of red box or close there..
Break of congestion area
Bounced off 72 and crossed 12ema..
Rising wedge..
Break of Daily PB..
MA's would be starting to have space between them giving momentum..
30pip stop just under 0.97RN..

Any opinion appreciated please

Cheers,
Adrian

Update: BE
Yes... good one

As mentioned earlier look for the reasons like this... this will give you confidence to enter the trade...

Thanks for your active participation....

Best Regards,
FX-Pro
  • #229
  • Sep 18, 2012 12:45am Sep 18, 2012 12:45am
Quoting FX-Pro
I request you all to suggest another 3 to 5 pairs, which has high liquidity + low spread, so that we can test this on the selected pairs...

why only 3 to 5 pairs?

Its important to concentrate only on few pairs... so that we can read the movement of the pairs & understand them properly.
Hey FX..

I think you can use this system on loads of different pairs as the 72 touch before a close above the 12 seems to work really well for avoiding fake outs..
Just a matter of a couple of things to avoid like the time of day for trading different pairs like trading between the UK and US activity..
Low spread pairs..

I think most US pairs should be ok.. the Nzd/Usd moves the same as the Au/Usd for something safe to.. Silver...I traded oil before with something similar so that should be ok to and nice moves..

Cheers,
Adrian
  • #230
  • Sep 18, 2012 12:52am Sep 18, 2012 12:52am
Quoting Davit
Kind of conflicting picture I get on UCad. PA according to system is a buy which I did however it is also Under 200EMA very respected line and coming very close to it.
1st tpl is the system
2nd is 200ema system which I use as well.I reason PA may reverse back to major downtrend after hitting 200EMA which is around 9760
Very true... 200 MA is one of the best... & auto adjustable Support/Resistance in any TF.... if you guys comfortable using 200EMA on this method you may use it...

Nice observation...

Best Regards,
FX-Pro
  • #231
  • Sep 18, 2012 1:00am Sep 18, 2012 1:00am
Quoting Ramjet
Did this one a little differently as caught it a bit late as on the hourly it did what we wanted of crossing the 12ema but I missed the move and caught it on the break out pull back also if you look at the daily it is a 2day PB..

So far working but it's a worry the size of the spread on some of these cross pairs as the spreads are a lot wider making it difficult to get to BE at +20.. and if we look back at this post http://www.forexfactory.com/showthre...12#post6017312 I'm about to be stopped out although price moved about...
Good catch.. late entry though

Never chase a trade... if you miss a trade... just let go... you will always get a better chance to enter...

Google for best broker with low spread..

Cheers,
FX-Pro
  • #232
  • Sep 18, 2012 1:00am Sep 18, 2012 1:00am
Quoting FX-Pro
Very true... 200 MA is one of the best... & auto adjustable Support/Resistance in any TF.... if you guys comfortable using 200EMA on this method you may use it...

Nice observation...

Best Regards,
FX-Pro
Hi ya FX..

Just wondering could you possibly show a couple of examples of how to trade the 200EMA, not clued up on that EMA and looking over charts it seems to be right in the middle of congestion areas at times and not sure what to do at that point as the 72/12 and 200 are all clustered together.. or you just don't trade if breaks the 12 running into 200EMA??

Cheers,
Adrian
  • #233
  • Sep 18, 2012 1:17am Sep 18, 2012 1:17am
Quoting Ramjet
Hi ya FX..

Just wondering could you possibly show a couple of examples of how to trade the 200EMA, not clued up on that EMA and looking over charts it seems to be right in the middle of congestion areas at times and not sure what to do at that point as the 72/12 and 200 are all clustered together.. or you just don't trade if breaks the 12 running into 200EMA??

Cheers,
Adrian
Sure i'l post some...

Best regards,
FX-Pro
  • #234
  • Sep 18, 2012 1:19am Sep 18, 2012 1:19am
Hi FX-Pro

Could I ask that you have a look at the picture you posted in your first post on page 1.

I believe the first green highlighted area is not a trade entry, but merely a crossover that then requires a pull back to the 72ema which is shown in the second green highlighted area and from there the trade entry conditions are met.

Am I right?

If the first green highlighted area meets your entry criteria could you please provide details as to why it qualifies.

Thanks

Di
  • #235
  • Sep 18, 2012 1:38am Sep 18, 2012 1:38am
Quoting Davit
Kind of conflicting picture I get on UCad. PA according to system is a buy which I did however it is also Under 200EMA very respected line and coming very close to it.
1st tpl is the system
2nd is 200ema system which I use as well.I reason PA may reverse back to major downtrend after hitting 200EMA which is around 9760
Hi ya Davit..

Any chance you could tell me if there was any special ways that you used the 200ema in your system that is relevant to this system?

Cheers,
Adrian
  • #236
  • Edited 3:15am Sep 18, 2012 1:56am | Edited 3:15am
Quoting duffy
Hi FX-Pro

Could I ask that you have a look at the picture you posted in your first post on page 1.

I believe the first green highlighted area is not a trade entry, but merely a crossover that then requires a pull back to the 72ema which is shown in the second green highlighted area and from there the trade entry conditions are met.

Am I right?

If the first green highlighted area meets your entry criteria could you please provide details as to why it qualifies.

Thanks

Di
If You Look at the price you will notice that the entry is valid(Pull Back).... the second white candle is my entry...

Regards,
FX-Pro
  • #237
  • Sep 18, 2012 2:13am Sep 18, 2012 2:13am
Keep an eye on this pair as Daily looks like it's starting to reverse it's long term down trend..need a strong Bullish bar back up through the 12 to give some support to the idea..
If you want to be safer you could wait for the 38%Fib at around the 0.80 level for an entry cross through the 12 for a larger move if it can get back there again..
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  • #238
  • Sep 18, 2012 2:19am Sep 18, 2012 2:19am
Hi ya FX..

How are you managing your take profits?
Are you taking half off at the 20pips then BE or just moving the stop up to BE at 20pips which I think I read before, problem is I'm getting a lot of BE trades at the moment..

Maybe focus on a few pairs rather than the mixture of pairs may help?

Cheers,
Adrian
  • #239
  • Sep 18, 2012 2:21am Sep 18, 2012 2:21am
Which pairs would you recommend specifically?

No signal yet for AUD/USD. Waiting for a pullback, right? I'm also curious about the 200 EMA since a bearish candle is ready to break it.

Thank you!
  • #240
  • Edited 3:16am Sep 18, 2012 2:55am | Edited 3:16am
Quoting Ramjet
Hi ya Davit..

Any chance you could tell me if there was any special ways that you used the 200ema in your system that is relevant to this system?

Cheers,
Adrian
Here is what I just did. I retook the Cad at 9740 and closed it right at 9757 under 200EMA anticipating trend reversal to down.
I just know that lot of banks use 200EMA in their trading and its a powerful S/R level hence I am trying to be in sink with this system.
Had I not closed my trade at 9757 I would of lost pips.200EMA kind of gave me a warning to exit.
So to sum up I like to see both 72EMa and 200EMA in same direction for assurance and use this system as an entree.
Notice on the chart without the 200MA one could of assumed PA was heading North but not so yet.PA touched and reversed and now seating right under it.Present UP move is generated by Euro sell and I believe 3060 may put stop to this and Cad may resume down trend.

I did mostly short trades today all U/Cad took long mostly in 9740 area and netted 25pips. I have been watching this particular pair with great interest since its overly oversold.It has a potential to go UP 400pips plus.
Attached Image (click to enlarge)
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In trading, you have to be defensive and aggressive at the same time
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