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Simple Money Making Method

  • #401
  • Sep 19, 2012 10:15am Sep 19, 2012 10:15am
Quoting ian52
1st trade on tis sys, audusd, stop @sl 1.0477

sad...
The strong bullish trend on EURUSD has now stopped for consolidation. This is going to be a crazy time for those still pray on MAs. I am in FX market 4.5 years. 2.5 out of which I was like you, trying to find mysterious in indicators and looking for funny named candles. I have blown up 4 deposits until overcome the euphoria. Euphoria is the biggest problem for the beginners. They get excited when the system works fine but for some reason ignore the choppy market where it is not. I know this is hard to accept, because you guys have been demonstrated a few successful trades.

Be careful when you see a new genius has "invented" a new Holy Grail which is based on indicators and generates sustainable profit in a timeframe lower that the Daily. Ask for the account dynamic. FX-Pro was not able to provide it for the announced 2+ years of successful trades.

I expect strong attacks on this post, no problem. You are killing your accounts, not mine. Just step back for a while and try to think why the price is moving. It's not because the hourly candle closed above or below 12EMA. Take this advice for free: There are big market players (banks, insurance companies, hedge funds etc). These guys have a highly professional analytics and what is more important; they have timely access to what is going on in the World. They gazer all information and start digest it. That period is called consolidation. When they come to a conclusion there they begin investing either in EUR or USD or etc. Here what moves the market. And I hope you understand that such decisions are not made for an upcoming hour. Thus, trading on an hourly chart is simply gambling.

If you want to become a successful trader, you should learn how to "read" the big guys sentiments and simply try to follow them.
Enter Signature
  • #402
  • Sep 19, 2012 10:21am Sep 19, 2012 10:21am
Thank you FX Pro! Very interesting observation.
Alex
  • #403
  • Sep 19, 2012 10:30am Sep 19, 2012 10:30am
Quoting Davit
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.
First of all, thank you so much for this wonderful Idea...

Indeed it will help all the traders/members of the thread, its sounds good... but i'm sure it will come only through experience.... i would appreciate if you could give your inputs while we move on with positive trades,

I myself look for one winning trade & i never thought of adding positions, certainly this will help this method, as we hold trades for multiple days...

also i see many people say that they have to wait for a long time to get a trigger on this method, so lets make use of this potential trigger in the best possible way to score more pips...

So we are looking forward for your inputs to add position to the winning trades,

Best Regards,
Saravana
  • #404
  • Sep 19, 2012 10:33am Sep 19, 2012 10:33am
Quoting V_s
The strong bullish trend on EURUSD has now stopped for consolidation. This is going to be a crazy time for those still pray on MAs. I am in FX market 4.5 years. 2.5 out of which I was like you, trying to find mysterious in indicators and looking for funny named candles. I have blown up 4 deposits until overcome the euphoria. Euphoria is the biggest problem for the beginners. They get excited when the system works fine but for some reason ignore the choppy market where it is not. I know this is hard to accept, because you guys have been demonstrated...
Thank you for your post.I am one of those who believe big boys move the market however how would you explain uncanny 24EMA on 4h chart.Certainly not random agree?
I just like your inputs why such correlation 24EMA and 4h and how PA kept bouncing off from it.
Attached Image (click to enlarge)
Click to Enlarge Name: check.gif Size: 20 KB
In trading, you have to be defensive and aggressive at the same time
  • #405
  • Sep 19, 2012 10:52am Sep 19, 2012 10:52am
Quoting FX-Pro
First of all, thank you so much for this wonderful Idea...

Indeed it will help all the traders/members of the thread, its sounds good... but i'm sure it will come only through experience.... i would appreciate if you could give your inputs while we move on with positive trades,

I myself look for one winning trade & i never thought of adding positions, certainly this will help this method, as we hold trades for multiple days...

also i see many people say that they have to wait for a long time to get a trigger on this method, so lets...
Hi Saravana
Just want to add you probably know more then me.I just like to share ideas for this "club" members to get better including myself and reach our goals of financial success.
I put 7-8hr a day either researching or reading about trading.I am 150% committed to be in 3% success club.Failure is not an option.
Kudos
In trading, you have to be defensive and aggressive at the same time
  • #406
  • Sep 19, 2012 10:56am Sep 19, 2012 10:56am
Quoting Davit
Thank you for your post.I am one of those who believe big boys move the market however how would you explain uncanny 24EMA on 4h chart.Certainly not random agree?
I just like your inputs why such correlation 24EMA and 4h and how PA kept bouncing off from it.
How about this market? Its still 24EMA? You can also run any oscilator and find market segments where it "predicted" upcoming price up or down. You can also fine tune the period of the EMA so it suits well with some another market segment which does not meant the same parameters will work for another segment or pair.

http://www.forexfactory.com/C:\Users\vsahakyan\Desktop
Attached File(s)
File Type: pdf 9-19-2012 9-51-05 PM.pdf   18 KB | 891 downloads
Enter Signature
  • #407
  • Sep 19, 2012 11:20am Sep 19, 2012 11:20am
To VS
When x number of traders trading 24ema is greater then say 20,100 or even 200 then PA bounces more.Its kind of self fulfilling.
Don't take my word.Lets look at greater chunk of Euro 4h.
Blue 24EMA
Salmon 100EMA
Yellow 200EMA

Notice how many times 24EMA bounces off from it.Again this can't be random.Its right there on the charts.

Your example is vague.I could not tell the currency or what TF
Just want to add why I like FX -Pro approach.He basically is trading with the trend but off from a bounce.Looking at 24EMA is mesmerizing how PA kept bouncing and continuously going with the trend. I refuse to except that this is random.
Attached Image (click to enlarge)
Click to Enlarge Name: euro zoom.gif Size: 24 KB
In trading, you have to be defensive and aggressive at the same time
  • #408
  • Sep 19, 2012 11:45am Sep 19, 2012 11:45am
Quoting dotless
why would u go long?
we are abv the 72 on H1.... Im just following the rules...now I moved my stop to BE... lets C what happens
  • #409
  • Sep 19, 2012 12:45pm Sep 19, 2012 12:45pm
Hi everyone, nice threat FX-Pro. I'm with you. Trading for 4 years now still searching. Let's see...
  • #410
  • Sep 19, 2012 1:47pm Sep 19, 2012 1:47pm
Quoting V_s
I am in FX market 4.5 years. 2.5 out of which I was like you..
..Thus, trading on an hourly chart is simply gambling.

..Ask for the account dynamic. FX-Pro was not able to provide it

If you want to become a successful trader, you should learn how to "read" the big guys sentiments and simply try to follow them.
So it looks like you have been succesful 2 years also? Maybe then you are willing to provide your 2 years succesful trades?

It's easy to say you should learn this and that and you should follow something. Maybe you can start a thread how to "read" the big guys sentiment or if there is one already, point us who want to know it more to there?

What i want to say the system FX-Pro is providing is the basic and simple framework to make money in trending conditions, and very grateful he is sharing his knowledge.

Wish to see more live trades with this method in future, winning or losing, that way we can all learn and get more confidence to enter to the winning trades and avoid the losing ones. (Will post my trades with this method later too)

Keep up the good work FX-Pro!
  • #411
  • Sep 19, 2012 2:51pm Sep 19, 2012 2:51pm
Quoting FX-Pro
U are welcome....

I'l Post my Live entries.... so that every one can learn.....
i'l be happy if i can help newbies through this thread...

Cheers,
if that so then as i have $65 when i reach the recoured minimal amount (which is $2500 i think) for FXPro i will change from accentforex to FXPro!!!
i admit i dont really understand this method but hope to learn as i go along.

things i dont get the whole EMA stuff
  • #412
  • Edited 2:58pm Sep 19, 2012 2:56pm | Edited 2:58pm
Quoting Davit
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....
Share with us exactly which trading books you have been reading lately, please



Edit: NOW I see the name mentioned in your post?

Got it, thanks for the tip!
It takes a lot for me to IGNORE you, but you can try.
  • #413
  • Edited 3:59pm Sep 19, 2012 3:18pm | Edited 3:59pm
Quoting Erebus
Share with us exactly which trading books you have been reading lately, please



Edit: NOW I see the name mentioned in your post?

Got it, thanks for the tip!
Before I begin I have to say.I have 6 months of forex trading experience 20 yrs of behavioral psychology and 5 yrs of sports gambling experience.
Despite of negative popular myth gambling is not all bad if one knows his adds.I bet on football,baseball,collage basketball etc.Got tired of watching games and decided to move to trading forex.
Lost 50% of my account.I pulled the breaks and started to examine myself,mistakes and all the why's.
Things I learned so far.
1.No indicator painting red or blue is going to make you money.Period.It works some time but often gives false signals.Traders having fking 20 indicators on the charts are confused bunch.If it takes 20 conflicting signals to make a decision then you are truly fucked royally.
2.System is as good as the person managing.You are the system!The hard drive.
3.Most important.PA or simply Price is the ultimate indicator because it does not lag.
S/R have memories because everyone is looking at it.Think about that every trader is looking at the same S/R but few are giving importance of RSI pointing up.I don't.
Think about PA and S/R only for few months.Don't have anything else on the chart except few MA.But no indicators,No TDI,No Stock,No MACD,No momentum etc.
Train your eyes to see S/R levels clearly.Focus on 2 pairs and know them well.
After 2 months you will see vast improvement how you will react to trading.
I plan on to become successful.150% committed.I spend all my free time studying because I need to succeed not wanting to succeed but a must,a need.
Yes one must have fanatical devotion to succeed otherwise you will weather way like 95% do.
Read as much as you can on Walter Peters
Read as much as you can on S/R trading the heart of the beast.
MA's are secondary to S/R. PA,Momentum,S/R 3 things I look in a trade.

Personal anecdote.
I took a acting class in Hollywood 25yrs ego and on 1st day of the class the teacher brilliant man said
"how many here want to become actors" Everyone there raised their hands including me
Then he said "how many must become actors" only few raised their hands and I was not one of them..
Now ask yourself same question.
In trading, you have to be defensive and aggressive at the same time
  • #414
  • Sep 19, 2012 4:17pm Sep 19, 2012 4:17pm
Quoting Davit
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....
Davit

Your 'adding position' is gr8!

How possible for you to open a thread and share your trading experience using MA, and 'adding position'?

Cheers
Trade As A Sniper
  • #415
  • Sep 19, 2012 4:27pm Sep 19, 2012 4:27pm
Quoting Davit
Before I begin I have to say.I have 6 months of forex trading experience 20 yrs of behavioral psychology and 5 yrs of sports gambling experience.
Despite of negative popular myth gambling is not all bad if one knows his adds.I bet on football,baseball,collage basketball etc.Got tired of watching games and decided to move to trading forex.
Lost 50% of my account.I pulled the breaks and started to examine myself,mistakes and all the why's.
Things I learned so far.
1.No indicator painting red or blue is going to make you money.Period.It works...
Well written
Pls. share more on PA+SR+MA!
Thanks
Trade As A Sniper
  • #416
  • Sep 19, 2012 4:31pm Sep 19, 2012 4:31pm
Quoting pama.fx
Davit

Your 'adding position' is gr8!

How possible for you to open a thread and share your trading experience using MA, and 'adding position'?

Cheers
I only add to position on major S/R break trades. For example my cad trade 3 times I took Long 3 times it failed to break so I didn't add to it.Total pips gained about 50pips.
Now had it broke 9760 I would of added more since next obvious S/R is 98.
So you have to use discretion.Only works on major movements.About me starting a thread about this.Too early.
In trading, you have to be defensive and aggressive at the same time
  • #417
  • Sep 19, 2012 4:56pm Sep 19, 2012 4:56pm
Davit

I agree that traders should read and re-read on a regular basis Trading in the Zone by Mark Douglas. I started reading it again a few days ago. It is one of my valuable library of trading books.

However, I would suggest that you remove the pdf file you uploaded of the book as you are in breach of the copyright that applies to the book and I would imagine that breaching the copyright is a breach of the Forex Factory rules.

New and used copies of the book are available on various web sites.

Mark Douglas is worth whatever monetary recompense he gets from book sales for the mountain of information he took the time to write in his book.



Di
  • #418
  • Sep 19, 2012 5:36pm Sep 19, 2012 5:36pm
Quoting Davit
Before I begin I have to say.I have 6 months of forex trading experience 20 yrs of behavioral psychology and 5 yrs of sports gambling experience.
Despite of negative popular myth gambling is not all bad if one knows his adds.I bet on football,baseball,collage basketball etc.Got tired of watching games and decided to move to trading forex.
Lost 50% of my account.I pulled the breaks and started to examine myself,mistakes and all the why's.
Things I learned so far.
1.No indicator painting red or blue is going to make you money.Period.It works...
Top stuff Davit!...agree with all of this 100%!
20 years of Psychology..your not Walter Peters are you??
  • #419
  • Sep 19, 2012 7:04pm Sep 19, 2012 7:04pm
Keep an eye on this one....looking very tasty!
Wait for the breakout as very strong resistance on the Daily TF..
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  • #420
  • Sep 19, 2012 7:47pm Sep 19, 2012 7:47pm
Another worth watching..
The usual rules and starting to move below a strong Weekly S/R level..
If you were to look at this maybe wait till after Europe opens to see where it's at and to get some real activity in this pair..
Attached Image (click to enlarge)
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