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Simple Money Making Method

  • #501
  • Sep 20, 2012 8:22am Sep 20, 2012 8:22am
Quoting driven18
FX-PRO, also, wouls you have taken this short trade...see blue arrow
Here is the chart
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD.jpg Size: 90 KB
  • #502
  • Sep 20, 2012 8:26am Sep 20, 2012 8:26am
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?
All the trades are posted here, from the time we started this thread... Please refer,

Thanks,
FX-Pro
  • #503
  • Sep 20, 2012 8:31am Sep 20, 2012 8:31am
Quoting driven18
Here is the chart
Yes... keeping in mind the reject from the resistance.... for me its just a failed trade...

Thanks,
FX-Pro
  • #504
  • Sep 20, 2012 8:42am Sep 20, 2012 8:42am
Quoting FX-Pro
Yes... keeping in mind the reject from the resistance.... for me its just a failed trade...

Thanks,
FX-Pro

So, stop loss would of been above that green candle before it?
  • #505
  • Sep 20, 2012 8:49am Sep 20, 2012 8:49am
Quoting driven18
So, stop loss would of been above that green candle before it?
Hey Driven18..

Yes, great area for the stop as lots of resistance at that area
  • #506
  • Sep 20, 2012 8:55am Sep 20, 2012 8:55am
Quoting FX-Pro
All the trades are posted here, from the time we started this thread... Please refer,

Thanks,
FX-Pro

You should start a journal....will make it much easier to see the stats...
  • #507
  • Sep 20, 2012 9:25am Sep 20, 2012 9:25am
Driven18

I have a different point of view compared to that expressed by FX-Pro. I recognise that this is not only his system but also that this currency is not one of the 4 pairs stated as being ones to watch.

On my trading wall is the quote "The market has spoken......were you listening?" I pay great attention to that every trading day.

Two things jump out at me from the chart. One is that the 72 ema is just 5 pips away from the 12 ema at the time of "the bounce". Does that feel like a bounce to me? It's not something that would make me feel comfortable enough to place a trade. To me, five pips does not give enough room to bounce.

The second thing is that the 72ema has gone sideways for 15 hours prior to what is being perceived as the bounce. Does that give me confidence to take a trade when the moving average is not giving direction? Again the answer is no.

I'm much happier keeping my hands in my pockets and waiting until a trade sets up where I believe the odds are in my favour. This is not one of them.

However, this is just my view.


Di
  • #508
  • Sep 20, 2012 9:38am Sep 20, 2012 9:38am
Quoting driven18
You should start a journal....will make it much easier to see the stats...
Will see to that in future...

Thanks,
FX-Pro
  • #509
  • Sep 20, 2012 9:43am Sep 20, 2012 9:43am
Fx-Pro,
it is my first day today i m used this method one trade in gold and one trade in stock market both was successful means 2 trades 2 in favour... Happy to see something working good.I m just facing losses from last two years.....
  • #510
  • Sep 20, 2012 9:43am Sep 20, 2012 9:43am
latest trade lets see
Attached Image (click to enlarge)
Click to Enlarge Name: 2012-09-20_20-11_ArcSoft Magic-i Visual Effects.jpg Size: 76 KB
  • #511
  • Sep 20, 2012 9:45am Sep 20, 2012 9:45am
i need help in learning what the 72 ema and 12 ema???? other thing do you guys post when you place the trade or way after, also is it to late for me to sell i see it still going down to the resistance?
  • #512
  • Sep 20, 2012 9:52am Sep 20, 2012 9:52am
Quoting Mr.Deghayes
i need help in learning what the 72 ema and 12 ema???? other thing do you guys post when you place the trade or way after, also is it to late for me to sell i see it still going down to the resistance?
EMA stands for Expotential Moving Averege 72,12 are time frames
  • #513
  • Sep 20, 2012 9:58am Sep 20, 2012 9:58am
Quoting Hakimi
latest trade lets see

What was the motivation for this entry? If I understand FX's rules, then entry should come after P falls below the 12ma.
Yeoman the "Tough Luck" Trader =p
  • #514
  • Sep 20, 2012 10:07am Sep 20, 2012 10:07am
Quoting Mr.Deghayes
i need help in learning what the 72 ema and 12 ema???? other thing do you guys post when you place the trade or way after, also is it to late for me to sell i see it still going down to the resistance?
May I suggest that if you are in a live account that you do not place any trades till you put some time (a lot of time) into demo trading & lots of reading. You can not believe how fast you can burn down your account even once you think you know what you are doing. Speaking from experience!
Yeoman the "Tough Luck" Trader =p
  • #515
  • Sep 20, 2012 10:13am Sep 20, 2012 10:13am
trade from yesterday stopped out today +14 CAD
Attached Image (click to enlarge)
Click to Enlarge Name: 20.jpg Size: 99 KB
  • #516
  • Sep 20, 2012 10:15am Sep 20, 2012 10:15am
Quoting Yeoman
May I suggest that if you are in a live account that you do not place any trades till you put some time (a lot of time) into demo trading & lots of reading. You can not believe how fast you can burn down your account even once you think you know what you are doing. Speaking from experience!
What i will say is demo is good for practice but u know u dont have to face that loosing trade pressure and fear so i must say practice first on demo and than come in to live trading with almost zero lots like 1,or 2....or what ever minimum requirement for a pair and try to feel and than absorb pressure and ready to except losses on the basis ( cut ur losses and let profit runs ) and yess agree with u reading,reading and reading with practice.....and wen i lost alot than i came into this phase (Reading, Searching ) But I hope and try to recover though it will take time...
  • #517
  • Sep 20, 2012 10:16am Sep 20, 2012 10:16am
Quoting Yeoman
What was the motivation for this entry? If I understand FX's rules, then entry should come after P falls below the 12ma.
Hey Hakimi..

Yes, Yeoman is correct..if we follow the rules we have to wait for price to close below the 12EMA with strong PA momentum preferably just to add that extra bit of confirmation for the trade in case it touches the 72EMA and carries on through it against our trade idea..

Cheers,
Adrian
  • #518
  • Sep 20, 2012 10:44am Sep 20, 2012 10:44am
Quoting waadi
What i will say is demo is good for practice but u know u dont have to face that loosing trade pressure and fear so i must say practice first on demo and than come in to live trading with almost zero lots like 1,or 2....or what ever minimum requirement for a pair and try to feel and than absorb pressure and ready to except losses on the basis ( cut ur losses and let profit runs ) and yess agree with u reading,reading and reading with practice.....and wen i lost alot than i came into this phase (Reading, Searching ) But I hope and try to recover...
i'm not so much a newbie i have been practicing in demo for months then moved to live, trading trends i had made great profits for the first month, then crazy news occurd and wiped me out, i took a month off then came back and started short term trading with small profits, last trade i placed was 10 pips up but i couldnt take it as i had no acces to my account an hour later im 115 pips down. then i found this forum therefore i'm trying to learn the method you guys use as it seems great all i need to know now is what is 72 ema and 12 ema but no one wants to tell me
  • #519
  • Sep 20, 2012 10:46am Sep 20, 2012 10:46am
Quoting Mr.Deghayes
i'm not so much a newbie i have been practicing in demo for months then moved to live, trading trends i had made great profits for the first month, then crazy news occurd and wiped me out, i took a month off then came back and started short term trading with small profits, last trade i placed was 10 pips up but i couldnt take it as i had no acces to my account an hour later im 115 pips down. then i found this forum therefore i'm trying to learn the method you guys use as it seems great all i need to know now is what is 72 ema and 12 ema but no one...
Here you are http://www.babypips.com/school/eleme...ving-averages/
  • #520
  • Sep 20, 2012 10:49am Sep 20, 2012 10:49am
Quoting waadi
EMA stands for Expotential Moving Averege 72,12 are time frames
thanks man i think i get it now
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