Simple Money Making Method

Pls i just want to know if this entrey is ok went long on EU, this is my first post here, pls i need help on this

This candle is important; if a exhaustion appears on the 1hr we're going down down for a while.


Time of writing > bullish with signs of exhaustion.

Rejecting your 72MA, looking for it to hold and fall

Hi ya Agoronaoka..

Welcome

This isn't an entry at the moment if you were to follow the rules for this system..
The rules for entry are in the first post:
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

Have a read over that first post again and then read through all of FX-Pro's posts and you should be up to date pretty quick with how to trade this system

Cheers,
Adrian

Stopped for -35 Pips.

part of this business...

So guys lesson from the mistake- it took 3 bars to close below the 12EMA, Still i entered,

So lets not repeat it,

FX-Pro,

Out AU -35 pips
Boh!!!!!!!!!!!!!!!

1st trade on tis sys, audusd, stop @sl 1.0477

sad...

Your SL is too tight, really is.

It is too tigh, but there is no other way to play this technique...

Ramjet is missing for a long time....
?

Hey Everyone..

Driven18 is bang on correct!..

The rules are in the first post of the thread and I see a few people are trading there own method of taking a trade now so if it goes wrong you can't be blaming the system..
Please follow the system rules, read FX-Pros posts and build from there..once you get good at it you will start to get better more reliable entries with higher returns $$$$ ..

Cheers,
Adrian

lol.. and there I was thinking you were sick of all my posts!

Probably throwing away another 10 pips but...I like having my SL behind the 120ma which may hold and give a chance to salvage some pips. If it gets back in profit I have a 3.5 pip trailing stop in place to keep it there. I see my mistakes being not closing and reversing on the bullish candles sitting right on top of the two R turned S lines.


But it is true that this was not a great short entry as time has proven.

Not at all....

Every traders' posts/efforts on the thread... are much appreciated....

As i always mention, we all are here to share/learn ideas, i find this as one of the best business, which gives complete freedom in life.

Cheers,
FX-Pro

I would not long Euro now.Growing sentiment is its due for a major retrace to 30 and below.
Selling pressure is overdrive.It can drop like a rock rather unsuspectingly.

That didn't take long. Moving on.

Price could still easily drop back to the bottom of the channel as it moves into this ranging zone. Lets see if the 120ma is better S than it was R.

Good day FX-Pro (could we call you some human name?)

About my trades.
Cad did reach 9760 however I closed my order at 40.Next time....
Bought the Cad again just now at 9735.It looks like this support level is holding.
On personal note reading Walter Peters is great.Here is one worth reading.

Why I Add to Winning Positions

Many traders find a great trade setup; take the trade, and then watch. If the trade goes in the opposite direction - if the trade does not do well many traders will consider adding to the position. Averaging down, adding to a losing position, it does not matter what it is called, it is basically taking more of a losing position. It is no different than making reservations for a restaurant that you don't like because the food made you ill and the staff was rude. It sounds funny but it is true. By adding to a losing position you are asking for more of what you don't like.
Now, let's consider this scenario. Let's say that you make reservations for a restaurant, you show up to find your table waiting for you, the staff are wonderful and the food is great. Would you only eat an appetizer because you didn't want to "ruin the experience?" Would you leave early because you don't want to have "too much of a good thing?"
You probably wouldn't if you are like most people.
But this is exactly what many traders do - they add to losing positions (often maximizing the loss) and they rarely add to positions that immediately go in the expected direction.
Think about what that means for your trading account. That means that when you are right you are not maximizing profits and when you are wrong you are increasing your losses.
One great way to increase your profits is to add more positions as the trade goes in the expected direction. This is a lot like making reservations for that great restaurant - you know the food is good and you want some more!
Many traders can exponentially improve their profits by simply adding to winning trades and resisting temptation to add to losing positions.
http://images.tradingmarkets.com/200...029Peters1.jpg
Here is an example from this week. With this trade I sold the EUR/JPY at 137.00 and targeted the red line down at 136.00. I could have simply sold the EUR/JPY and waited for the market to hit 136.00 - and then I could congratulate myself and be very happy since the trade made 100 pips. But instead, because the trade went in my direction I added to the trade and made 280 pips instead. This is how it unfolded. I took one position at 137.00 and then I put additional sell orders in at 136.50 (one position), 136.40 (one position), 136.30 (one position), 136.20 (two positions) and 136.10 (two positions).
http://images.tradingmarkets.com/200...029Peters2.jpg
Instead of 100 pips on the winning trade I had several positions 100+50+40+30+(20x2)+(10x2) = 280 pips. Notice how I did not immediately add to the trade, but instead decided that if the trade went 50 pips in the expected direction I would allow the additional sell orders to kick in.
http://images.tradingmarkets.com/200...029Peters3.jpg
What would have happened had this trade immediately gone against me? Well, I would have only lost on the first position, thereby limiting my losses. I think it is important to wait for the market to give you feedback before you start adding to a winning position, so I always place additional orders at least 50% closer to the profit target than the initial position.
Think how much more money you would make if your losing trades were more than 87% smaller than your winning positions ... it is a lot like making reservations for that excellent restaurant, over and over again.

lets see ,can it go

Same reason I think Aussie will also move back down.

Agree I am short on Aussie at 4850