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Simple Money Making Method

  • #481
  • Sep 20, 2012 3:31am Sep 20, 2012 3:31am
Hi Fx-Pro,

this is a very good system. I use a similar one among some others. The combination of two moving averages and the rule that the bar has to bounce off from one bar AND close above/below the other one filters a lot of noise which is often the biggest issue with moving averages.
  • #482
  • Sep 20, 2012 3:32am Sep 20, 2012 3:32am
Quoting FX-Pro
Dear Folks,

Remember one thing... winning trade is just a winning trade,
If you want to learn, you can learn only through losing trades... I request you guys to post your losing trades as well, only then we can investigate & learn through the mistake.

Cheers,
Saravana
Very true my friend.
I on the other hand like to focus on winning trades and why it was a winner so I can do it again.
One can't predict markets all the time.If I cut a loser trade with 5-10pip loss I think of it business as usual however if you let that 5-10pip get 50+loss then you got a problem!
To freeze like a dear is the worst.Don't FREEZE
In trading, you have to be defensive and aggressive at the same time
  • #483
  • Sep 20, 2012 3:32am Sep 20, 2012 3:32am
Quoting Hakimi
honorable members,

can I use this system with other pairs as well, other then AU?

I mean will it decrease my winning chances?
Yes I think you could.... Just a matter of being picky!!
Watch out for spreads and look at the volatility of the pair as EMA's will get cut to shreds in crazy pairs..
  • #484
  • Sep 20, 2012 3:39am Sep 20, 2012 3:39am
Quoting waadi
Hi Fx pro
ur thread is really help full i just want to confirm one thing.....If the rule does not fulfill (pull back from 72 Ema and close above/below 12 Ema ) and senerio is 12 is crossing over or below 72 obviously with price. Even than we can take positions like in the given chart with green circles.....


Hey Waadi,

This may be a winning trade... but doesn't happen always, for me i need a pull back after the trend change....

Regards,
Saravana
  • #485
  • Sep 20, 2012 3:42am Sep 20, 2012 3:42am
Cool interview with Peter Walters one of my favorite traders.
Inserted Video

While you are waiting for set ups.
In trading, you have to be defensive and aggressive at the same time
  • #486
  • Sep 20, 2012 3:46am Sep 20, 2012 3:46am
Quoting Davit
Cool interview with Peter Walters one of my favorite traders.
http://www.youtube.com/watch?v=X9wEkGz76ns
While you are waiting for set ups.
Oh yeah, that's a freakin awesome interview that one!!..well worth the watch every one!!

And can you write his name correctly Davit, shame on you!
  • #487
  • Sep 20, 2012 3:50am Sep 20, 2012 3:50am
Quoting Ramjet
Oh yeah, that's a freakin awesome interview that one!!..well worth the watch every one!!

And can you write his name correctly Davit, shame on you!
12 hours today screen time.Beginning to get droussy.
Sorry mate
In trading, you have to be defensive and aggressive at the same time
  • #488
  • Sep 20, 2012 3:53am Sep 20, 2012 3:53am
Quoting Davit
12 hours today screen time.Beginning to get droussy.
Sorry mate
any excuse, I'll forgive you!
  • #489
  • Sep 20, 2012 3:53am Sep 20, 2012 3:53am
Trailing stop hit @ 0401 for 81 pips. Net gain of 31.

Goodnight
Yeoman the "Tough Luck" Trader =p
  • #490
  • Sep 20, 2012 3:57am Sep 20, 2012 3:57am
any trades possiblly today guys and could some one please please explain whats the 72 EMA AND 12 EMA ABD how to find them?
  • #491
  • Sep 20, 2012 4:13am Sep 20, 2012 4:13am
Quoting Yeoman
Trailing stop hit @ 0401 for 81 pips. Net gain of 31.

Goodnight
Congrats Yeoman
  • #492
  • Sep 20, 2012 4:17am Sep 20, 2012 4:17am
i dont understand how u guys would go short on au, when there was not a rejection of the 72ema as such but rather a change of direction to the upside followed by a change of direction to the downside. not a rejection as per fx-pros rules.
  • #493
  • Sep 20, 2012 4:37am Sep 20, 2012 4:37am
Quoting whatfx
i dont understand how u guys would go short on au, when there was not a rejection of the 72ema as such but rather a change of direction to the upside followed by a change of direction to the downside. not a rejection as per fx-pros rules.
Hi ya Whatfx..

I see what you mean..I didn't take that trade as had a couple of others running so wasn't interested in any more but I would have taken it using a bit of discretion of confluence for several reasons..
There was a strong Bearish bar coming down from the crossover area..
Also it closed below the 200EMA and the TL at the same time..

I wouldn't have taken the up move as there wasn't much momentum in the price at the cross over area of the re-touch..

Cheers,
Adrian
Attached Image (click to enlarge)
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  • #494
  • Sep 20, 2012 4:40am Sep 20, 2012 4:40am
Quoting FX-Pro
UpDate-

Guys... getting close to the support.... time to watch... +95 Pips now...

Regards,
Saravana
Price is on the support still with +100 Pips,

Hope this time it breaks the Support.

Saravana
Attached Image (click to enlarge)
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  • #495
  • Sep 20, 2012 4:44am Sep 20, 2012 4:44am
Quoting FX-Pro
Price is on the support still with +100 Pips,

Hope this time it breaks the Support.

Saravana
Hey Saravana..

Why aren't you moving your stop to just above those Doji's as you have resistance to the left of the chart also?

Cheers
  • #496
  • Sep 20, 2012 6:36am Sep 20, 2012 6:36am
Quoting Ramjet
Hey Saravana..

Why aren't you moving your stop to just above those Doji's as you have resistance to the left of the chart also?

Cheers
Ya Adrian...

I Did that, thanks,

Looks like if the price breaks the support, we can add positions...

Davit... Your inputs are much appreciated..

Thanks in advance..!

Saravana
Attached Image
  • #497
  • Sep 20, 2012 7:43am Sep 20, 2012 7:43am
Good Morning Traders,

Saravana, could you discuss your reentry rules as they apply to Aussie right now? Thx.

Nice head n' shoulders on the 4hr chart.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: audusd 4hr.gif Size: 32 KB
Yeoman the "Tough Luck" Trader =p
  • #498
  • Sep 20, 2012 7:52am Sep 20, 2012 7:52am
Quoting Yeoman
Good Morning Traders,

Saravana, could you discuss your reentry rules as they apply to Aussie right now? Thx.

Nice head n' shoulders on the 4hr chart.
Post #52, let me know if you need help...

Good day Yeoman!
FX-Pro
  • #499
  • Sep 20, 2012 8:15am Sep 20, 2012 8:15am
Quoting FX-Pro
Post #52, let me know if you need help...

Good day Yeoman!
FX-Pro

FX-PRO..great trading today....can you give us some stats on pips gain/lost, as an example, your last 10 trades in a row?
  • #500
  • Sep 20, 2012 8:18am Sep 20, 2012 8:18am
Quoting driven18
FX-PRO..great trading today....can you give us some stats on pips gain/lost, as an example, your last 10 trades in a row?

FX-PRO, also, wouls you have taken this short trade...see blue arrow
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