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Simple Money Making Method

  • #521
  • Sep 20, 2012 12:10pm Sep 20, 2012 12:10pm
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.
This is the reason why i took the trade on the AU today. It was exactly the same situation on the EU where the 12 and 72 EMAs crossed at the same time.

Please leave comments for me! I'm still on the path of learning.
+100pips in total for both trades.
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  • #522
  • Sep 20, 2012 12:38pm Sep 20, 2012 12:38pm
guys check your ema's i see a little buy.
what do you think?
  • #523
  • Sep 20, 2012 12:46pm Sep 20, 2012 12:46pm
Quoting Mr.Deghayes
guys check your ema's i see a little buy.
what do you think?
can you post your chart and indicate where you see the set-up?
  • #524
  • Sep 20, 2012 12:51pm Sep 20, 2012 12:51pm
Missed the first strike while in the Aussie trade last night. I did take a re-entry trade right after the Aussie hit my TSL. The 1 hr chart shows the entry signal. The 4 hr shows the re-entry set up. I entered on the strong break and close of the 4 hr trend support.

Blew through the RN but 7990 is being stubborn. SL is above the 120mma and TSL is set for 21 pips when it gets there. TP 7940 R/S zone from Sept. 12th -13th
Attached Image(s) (click to enlarge)
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Yeoman the "Tough Luck" Trader =p
  • #525
  • Edited 1:36pm Sep 20, 2012 1:23pm | Edited 1:36pm
Hi Saravana,Adrian,Yeoman the gang here.

I think once we get tight here together we can easily find great trades.6 or more eyes are better then one.It was a great day last night.Everyone who took shorts on dollar pairs made money.

To those who said why take the Aussie short because it didn't fit the system I'll say this.
Come on guys!When the queen Euro falls obviously Aussie will fall as well!That is basic.
Please study pair correlations.If I see Euro falling I expect UCAD to raise,Aussie fall,Cable to some extend fall as well.

Even though this is system based trading I don't particularly follow any "system" religiously(to be flexible is the key)
Did you see the News Calender? before Euro fall? Right before London? That's basic trading.....
Anyway please study,study S/R Momentum,PA

Going to my job.I will check in tonight.
In trading, you have to be defensive and aggressive at the same time
  • #526
  • Sep 20, 2012 1:43pm Sep 20, 2012 1:43pm
Also note on the daily chart that when P gets 200-300 pips off the 120LWMA (blue) it swings back like a magnet. And the support line was broken on the daily at the same time/p the signal came on the hourly.


Day job calls. C ya!
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Yeoman the "Tough Luck" Trader =p
  • #527
  • Sep 20, 2012 1:54pm Sep 20, 2012 1:54pm
check out the AU now. close to the 61.8FIB, hit the 72EMA and went back down, hit 1.0443 which is a resistance line which i drew earlier on which also happens to be on the 72EMA.

waiting for the candle to close
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  • #528
  • Sep 20, 2012 1:58pm Sep 20, 2012 1:58pm
Quoting Davit
Hi Saravana,Adrian,Yeoman the gang here.

I think once we get tight here together we can easily find great trades.6 or more eyes are better then one.It was a great day last night.Everyone who took shorts on dollar pairs made money.


Please study pair correlations.If I see Euro falling I expect UCAD to raise,Aussie fall,Cable to some extend fall as well.


Anyway please study,study S/R Momentum,PA
Looking forward to many more winning trades.

Speaking of pair correlations...$ & EU weakness in general should help the EU/GB short trade greatly.
Yeoman the "Tough Luck" Trader =p
  • #529
  • Sep 20, 2012 2:05pm Sep 20, 2012 2:05pm
Quoting dotless
check out the AU now. close to the 61.8FIB, hit the 72EMA and went back down, hit 1.0443 which is a resistance line which i drew earlier on which also happens to be on the 72EMA.

waiting for the candle to close
Even though its a great set up I don't like where the Price is.You are shorting at the bottom in my opinion hence lot more risky.
Momentum is up.
I would wait for better set ups personally

Got to go to work.See yeah guys
In trading, you have to be defensive and aggressive at the same time
  • #530
  • Sep 20, 2012 2:11pm Sep 20, 2012 2:11pm
Quoting Davit
Even though its a great set up I don't like where the Price is.You are shorting at the bottom in my opinion hence lot more risky.
Momentum is up.
I would wait for better set ups personally

Got to go to work.See yeah guys
nope. didn't take the trade. no momentum on it and the candle closed without a wick. waiting on it.
  • #531
  • Edited Sep 21, 2012 1:15am Sep 20, 2012 2:59pm | Edited Sep 21, 2012 1:15am
Hi all!

Great trading system, FX-Pro. Thanks for sharing it!

I'm testing it. I think I'll come back with some pics of my chart as soon as I have some real life results.

Best regards,
Hatzerim
Best Regards!
  • #532
  • Sep 20, 2012 7:54pm Sep 20, 2012 7:54pm
Quoting Hatzerim
Hi all!

Great trading system, Herr FX-Pro. Thanks for sharing it!

I'm testing it. I think I'll come back with some pics of my chart as soon as I have some real life results.

Best regards,
Hatzerim
Hi ya Hatzerim..

Welcome

Give it a serious testing as if you do I think you'll be very surprised how simple this system is and how well it works..
Send lots of charts, we love charts best for learning I think

Cheers,
Adrian
  • #533
  • Sep 20, 2012 8:07pm Sep 20, 2012 8:07pm
Hey Davit..

Have you found any merit through your experience of the 200EMA of trading off it like say a serious bounce off it could be a reversal of trend and good for so many pips and the opposite of if there is a strong signal piercing through it to go short on it for so many pips as you say it does seem to react as a turning point for the market a lot?

Cheers,
Adrian
  • #534
  • Sep 20, 2012 8:24pm Sep 20, 2012 8:24pm
Hey Saravana..

Just wondering do you at all trade price at extremes with some method to catch pips....
I've used a 5/12ema cross before and works well and I'm thinking that the 150/200ema has merit as well.. any ideas or are you using a method of sorts to catch pips from extremes?

Cheers,
Adrian
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  • #535
  • Sep 20, 2012 8:36pm Sep 20, 2012 8:36pm
Hi all,

I'm new in trading. Thanks for the sharing this system. I learned a lot from you guys.
I have question for the AU now. The price just above the 72EMA. Is it valid for entry now, or just wait till the 12EMA cross above the 72EMA?

Where should i put the SL?
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  • #536
  • Sep 20, 2012 8:59pm Sep 20, 2012 8:59pm
Quoting chyihuei
Hi all,

I'm new in trading. Thanks for the sharing this system. I learned a lot from you guys.
I have question for the AU now. The price just above the 72EMA. Is it valid for entry now, or just wait till the 12EMA cross above the 72EMA?

Where should i put the SL?
i think, this is not a valid long entry according to the trading system.
we need 12ema above 72 ema 1st as a trending changing symtom. then we need price retracement back down toward 72 ema. after that, we need rebounding candle above 12&72 ema, so we only calling a long AU.
patient....
  • #537
  • Sep 20, 2012 9:10pm Sep 20, 2012 9:10pm
Quoting chyihuei
Hi all,

I'm new in trading. Thanks for the sharing this system. I learned a lot from you guys.
I have question for the AU now. The price just above the 72EMA. Is it valid for entry now, or just wait till the 12EMA cross above the 72EMA?

Where should i put the SL?
Hi ya Chyihuei..

Welcome

No sorry, what we want is like the rules on the first post of the thread:
Entry :-

•Look for a Reject from 72 EMA
•Enter after the price closed above/Below the 12 EMA
•The entry Candlestick should be one single bar rejecting from 72 EMA & Closing Below/Above 12EMA & should be a Pinbar, Marubozu, Engulfing Pattern… Etc

Also if you look at this link it might clear things up for you as well how the system works http://www.forexfactory.com/showthre...21#post6016221

Cheers,
Adrian
  • #538
  • Sep 20, 2012 11:00pm Sep 20, 2012 11:00pm
20 hours later the market starts to move...but I'm going to bed. Sleep deprivation is not really a good thing.
Attached Image (click to enlarge)
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Yeoman the "Tough Luck" Trader =p
  • #539
  • Sep 20, 2012 11:09pm Sep 20, 2012 11:09pm
Quoting Yeoman
20 hours later the market starts to move...but I'm going to bed. Sleep deprivation is not really a good thing.
lol, yes the waiting game..the beauty of this business..

Have a good night!
  • #540
  • Sep 20, 2012 11:10pm Sep 20, 2012 11:10pm
Quoting dsperry
Does anyone know what this indicator is?
it's
http://www.forexrobottrader.com/stei..._mtf_robot.php

you can use google to get free indicator
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