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Simple Money Making Method

  • #321
  • Sep 18, 2012 11:37pm Sep 18, 2012 11:37pm
Quoting 8800
Hi Adrian,

You need to set your stop loss and take profit first, once set the lines will be there. You just need to drag the lines to adjust your SL and TP.

Hope this will help.

Cheers,
Lau
Hey Lau..

Thanks for this, I've sent you a PM

Cheers,
Adrian
  • #322
  • Sep 18, 2012 11:47pm Sep 18, 2012 11:47pm
Hi Folks,

Looks like A/U may give us a trigger in next couple of hrs...

If you guys look at the chart, you will notice that, how easy to identify the potential trades... Certainly very less number of trades, but ultimately what we want is not just a trade but a winning trade... so its really worth waiting... IMHO

Cheers,
FX-Pro
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  • #323
  • Sep 18, 2012 11:54pm Sep 18, 2012 11:54pm
hi all, would we be looking for an entry soon?
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  • #324
  • Sep 18, 2012 11:55pm Sep 18, 2012 11:55pm
Quoting FX-Pro
Hi Folks,

Looks like A/U may give us a trigger in next couple of hrs...

If you guys look at the chart, you will notice that, how easy to identify the potential trades... Certainly very less number of trades, but ultimately what we want is not just a trade but a winning trade... so its really worth waiting... IMHO

Cheers,
FX-Pro
oops, just saw your post. looks the same.
  • #325
  • Sep 18, 2012 11:58pm Sep 18, 2012 11:58pm
Hi

The chart you posted shows that we are in a waiting period for the set up for this method.

Whilst the 12 and 72 ema crossed nearly 40 hours ago, we need to wait for the retracement to the 72 ema and a bounce off that level. (The market is edging towards the 72 ema at present). If that bounce happens, we then wait for a cross and close below the 12 ema and observe the price action happening at that time to see whether you take the trade.

I would remove the pivots from your chart as they will distract you from this system.

I presume you have checked the higher time frames to determine areas of support and resistance as these can affect your decision whether to take a trade of not, even when the other conditions have been satisfied. Check to see if there is any momentum around where the trade sets up.

FX-Pro said "I want to see a trade like the nose on the face." Don't force a trade when there is not one there.

Trading off an hourly chart is a game of patience.

It is a good idea to go back over the comments in this thread and cut and paste those that give you tid-bits about the method and how to react when set-ups occur. You might want to write a checklist so that you know when each of the criteria has been met.

Just my view.


Di
  • #326
  • Sep 19, 2012 12:11am Sep 19, 2012 12:11am
Quoting duffy
Hi

The chart you posted shows that we are in a waiting period for the set up for this method.

Whilst the 12 and 72 ema crossed nearly 40 hours ago, we need to wait for the retracement to the 72 ema and a bounce off that level. (The market is edging towards the 72 ema at present). If that bounce happens, we then wait for a cross and close below the 12 ema and observe the price action happening at that time to see whether you take the trade.

I would remove the pivots from your chart as they will distract you from this system.

I presume...
thanks.
those are not my pivot points. it's a trade and those are my S/L and TP lines. the red rectangle is a resistance area which stretches all the way back to 17 september. I'm more of a visual person as I'm stupid so I need to see it.

You see, i'm also looking at simple price action. price hits that resistance level, it would naturally go up so hence, that's the reason why i took the trade and my TP is just below the 72EMA.........................................................................................................................................................................

+25pips at the moment. I hope everyone would understand that you can trade simple price action movements and not just fx-pro's method. i'm relying on both.
  • #327
  • Sep 19, 2012 12:15am Sep 19, 2012 12:15am
Quoting driven18
So it is not an automatc set up, "for buy"12 over then 72, pullback to 72 and closes above 12....there is also interpretation of what kind of signal it is and ef course to each it's own interpretation....unfortunately it make this thread just like many other threads....once more ..to each it's own..all based is what is in your head and not on the technique...it is all good...
Hi friend.Relax Trading is also intuitive based on personal experience.
Let me explain better.Look at this chart from today Euro.Looks like a pullback and one should take long right? But I didn't like it because there was great pressure to sell the Euro today and it did go down.Point is no system should be blindly followed.One has to use discretion.

http://www.forexfactory.com/attachme...6&d=1347981018
In trading, you have to be defensive and aggressive at the same time
  • #328
  • Sep 19, 2012 12:20am Sep 19, 2012 12:20am
The comments I made, were in relation to a chart by tsipouri in Post 300.

He asked what would trigger a valid short entry on AUD / USD. I just expressed my views.

Di
  • #329
  • Sep 19, 2012 12:49am Sep 19, 2012 12:49am
great simple system, seems to work well across a range of pairs

combine with going in direction of rainbow helps increase confidence and reliability of the trades it seems
  • #330
  • Sep 19, 2012 2:00am Sep 19, 2012 2:00am
Posting my live 2 trades on UCAD (needless to say you are responsible for your trades and anyone copying these trades are at your own risk)
1 limit buy triggered at 9735
1 I placed 15min ego on 9730
1 trade TP 9760
1 trade TP to be decided My TP is set at right under200EMA and strong resistance level.
Attached Image (click to enlarge)
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In trading, you have to be defensive and aggressive at the same time
  • #331
  • Sep 19, 2012 2:10am Sep 19, 2012 2:10am
Fx-Pro

Can you comment on EURGBP as it stands now, please?
Faith with Action
  • #332
  • Sep 19, 2012 2:12am Sep 19, 2012 2:12am
hi Davit, you've taken a buy i've taken a sell

sentiment is short, looks like rejection of 200 ema to me
H4 and daily are both short also
matrix says only shorts

interesting to see what happens
(edit: thinck blue line is the 72 ema)
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  • #333
  • Sep 19, 2012 2:26am Sep 19, 2012 2:26am
Quoting hinnavaru
Fx-Pro

Can you comment on EURGBP as it stands now, please?
I see that as 50:50, bcoz i see a gap in price from 72EMA, not a bounce exactly... & the price has not closed below 12EMA yet.

Wait for the current candle to close... but it may take extra SL... thats why i look for a single candle bounce from 72EMA Closing below 12EMA...

All the best
FX-Pro
  • #334
  • Sep 19, 2012 2:40am Sep 19, 2012 2:40am
Quoting Teaj
hi Davit, you've taken a buy i've taken a sell

sentiment is short, looks like rejection of 200 ema to me
H4 and daily are both short also
matrix says only shorts

interesting to see what happens
(edit: thinck blue line is the 72 ema)
Everything is pointing down however it is my intuition that Cad has been oversold and room for down is very limited.
I have buy limit at 9700 and bigger lot at 9660
In trading, you have to be defensive and aggressive at the same time
  • #335
  • Sep 19, 2012 2:47am Sep 19, 2012 2:47am
Quoting FX-Pro
I see that as 50:50, bcoz i see a gap in price from 72EMA, not a bounce exactly... & the price has not closed below 12EMA yet.

Wait for the current candle to close... but it may take extra SL... thats why i look for a single candle bounce from 72EMA Closing below 12EMA...

All the best
FX-Pro
Thanks mate. Appreciate your help.
Faith with Action
  • #336
  • Sep 19, 2012 2:54am Sep 19, 2012 2:54am
AUD/USD

If the price closes below EMA72, it's a valid entry right? Are you gonna wait for a new candle to appear or you will place your short now (a few seconds before new appears)?
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  • #337
  • Sep 19, 2012 2:56am Sep 19, 2012 2:56am
Good Morning Traders,

AUDUSD is getting closer to FX-Pro's entry. I entered much earlier (post 302).
The Hammer sitting right on top of the R turned S line was the signal to close and reverse....but i got caught sleeping at the wheel....again. =^/

It still looks as though this trade will have a happy end. Time always tells.

Thanks to all that have posted. I like it here. =^)
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Yeoman the "Tough Luck" Trader =p
  • #338
  • Sep 19, 2012 3:06am Sep 19, 2012 3:06am
Quoting tsipouro
AUD/USD

If the price closes below EMA72, it's a valid entry right? Are you gonna wait for a new candle to appear or you will place your short now (a few seconds before new appears)?
Hey Tsipouro..

A valid entry is as the rules on the first post of thread:

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

Hope that helps

Cheers,
Adrian
  • #339
  • Sep 19, 2012 3:43am Sep 19, 2012 3:43am
Quoting Davit
Posting my live 2 trades on UCAD (needless to say you are responsible for your trades and anyone copying these trades are at your own risk)
1 limit buy triggered at 9735
1 I placed 15min ego on 9730
1 trade TP 9760
1 trade TP to be decided My TP is set at right under200EMA and strong resistance level.
Closed both orders +14 pips.
Funny 2min later PA shoots up.LOl

Pending buy at 9715 in case retraction to lower zone.
In trading, you have to be defensive and aggressive at the same time
  • #340
  • Sep 19, 2012 3:47am Sep 19, 2012 3:47am
Hello,

One more time usd/chf, is this valid enter setup, everything on chart, please comment.
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