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Simple Money Making Method

  • #601
  • Sep 21, 2012 9:14am Sep 21, 2012 9:14am
Quoting Gizzledonk
Market order or pending - I think everyone does it their own way (pls correct me if I'm wrong here,,,,) I don't remember much comment one way or the other. I guess that whatever you're most comfortable with is good. Mine are nearly always Market orders.
For secondary indication/confirmation I use CCI (50) and Bollinger Bands However I think you'll notice again that there is a wide variety represented on this thread.
There, I bet that's a lot clearer now, ,,,,,

I think because the principle signal is the strong move off the MA there is...

thanks alot
NEVER go against the Daily trend
  • #602
  • Sep 21, 2012 9:16am Sep 21, 2012 9:16am
I do realize that 'by the book', waiting for price to move decisively back under the 12ma is more cautious, but the 72mma rainbow and 8000 has been holding very well.

Also talking about pair correlation...GBP/USD chart is bullish and EUR/USD is bearish and that combination supports this trade strongly.

Looking at the the daily you can see we might be in for more consolidation as the second shoulder forms on this conehead. (I suddenly feel the need watch some very old SNL reruns). So you can watch lower time frames for reversals in the 7970 zone.

SL is 10 points above the 1hr 120LWMA. TP is at Daily 120LWMA.
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Yeoman the "Tough Luck" Trader =p
  • #603
  • Sep 21, 2012 10:30am Sep 21, 2012 10:30am
Long trade possibly in the works on Aussie. But also completion of the head n' shoulder would indicate a short and a continuation to the bottom of the channel plays into that scenario.

Time always tells.

Keep checking on Dudley also.
Attached Image (click to enlarge)
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Yeoman the "Tough Luck" Trader =p
  • #604
  • Sep 22, 2012 9:48am Sep 22, 2012 9:48am
What an amazing way of trading in a simple way I must say, working on the pull backs, S/R combined with candle pattern to trade, real nice I must say. I believe this system should be good on higher timeframes too. I am currently using a simulator on 4hr TF and so far so good. I just want to test run for a yr and see how well it works.

Happy Trading to all
  • #605
  • Edited 2:16pm Sep 22, 2012 2:00pm | Edited 2:16pm
Word of caution for newbie traders (lot of them on this thread)
If you are get rich quick crowd you are already lost.No system will help you.
2 traders looking at the same set up may take different approaches depending on experiance.
If you think you can beat this forex with few indicators and MA's you are delusional and probably won't lost more then 90days.
My advise (painful lessons)
1.Study Price Action (google Chris Lori, Walter Peters,Alexander Elder(Kangaroo tail pattern) and watch or read these brilliant traders)
Study PA as if it were your own life blood.Study until you understand.
2. Support and Resistance
Study until you understand
3.Market Sentiment/momentum (news,related factors combine to create the sentiment)

Don't trade seriously until you understand these clearly and once you do then you won't be a freezing deer in the headlights.

Systems only should be looked at from 3 principles I highlighted.If you find yourself cutting corners skipping studying these, trust me you are already failure statistic.Don't be a statistic!Push yourself!
In trading, you have to be defensive and aggressive at the same time
  • #606
  • Sep 22, 2012 3:31pm Sep 22, 2012 3:31pm
I understand on the 1h chart. ema is at 12 and 72.. . but what about on the 4hr chart ? should it stay the same or change it ? to what ?
  • #607
  • Sep 23, 2012 12:01am Sep 23, 2012 12:01am
Dear FXpro,

Thank you for sharing this great system, I am new here.

Is there any recommended settings for other currencies?

Regards,
  • #608
  • Sep 23, 2012 7:48am Sep 23, 2012 7:48am
Has anyone considered placing a tma slope with this method?. It should allow for entries only when the trend is strong enough, and ignore most of the sideways action when it happens.
  • #609
  • Sep 23, 2012 9:31am Sep 23, 2012 9:31am
Weekend analysis on A/U Daily chart

Hi Folks,

Below is the expected movement in the near future..

I’m looking for a sell below / buy above the medium support (Orange)

Wish you all have a great week ahead,

FX-Pro
Attached Image
  • #610
  • Sep 23, 2012 9:47am Sep 23, 2012 9:47am
My dear folks,

I was on leave for almost two weeks now, & now its time to got to work from tomorrow.... hence I may not be available on the thread, but I’ll keep a tab on important post/update every hr or two….
If I see a potential trade, I’ll certainly post the same & will be there for any further assistance....

I may not be able to make it for London open however i'l be available for US Open every day....

All the very best,
FX-Pro
  • #611
  • Sep 23, 2012 10:12am Sep 23, 2012 10:12am
Quoting FX-Pro
Weekend analysis on A/U Daily chart

Hi Folks,

Below is the expected movement in the near future..

I’m looking for a sell below / buy above the medium support (Orange)

Wish you all have a great week ahead,

FX-Pro
I'm watching that one closely too, my favourite for the opening of the week is EURAUD, hopefully at opening tonight it will be showing a nice sell opportunity with a decent SL setting an plenty of pips in sight.
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Don't ask me, I have no idea what's going on.
  • #612
  • Sep 23, 2012 10:48am Sep 23, 2012 10:48am
Quoting S-m
Sell-limit
Looks like that played out nice for you.
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Seek not to change the world; seek only to change your mind about the world
  • #613
  • Sep 23, 2012 1:31pm Sep 23, 2012 1:31pm
i see it too guys.
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  • #614
  • Sep 23, 2012 1:59pm Sep 23, 2012 1:59pm
Quoting Davit
Word of caution for newbie traders (lot of them on this thread)
If you are get rich quick crowd you are already lost.No system will help you.
2 traders looking at the same set up may take different approaches depending on experiance.
If you think you can beat this forex with few indicators and MA's you are delusional and probably won't lost more then 90days.
My advise (painful lessons)
1.Study Price Action (google Chris Lori, Walter Peters,Alexander Elder(Kangaroo tail pattern) and watch or read these brilliant traders)
Study PA as if it were your...
PA means for me to read the market participantīs minds. If you know what the stronger hands are willing to do you can win that game. So you are right with your statement in my opinion.
And you could post it in almost every thread as many deal with indicator based systems.
But: The topic here is the market approach of FX-Pro. No need to try spoiling his fun
  • #615
  • Sep 23, 2012 2:00pm Sep 23, 2012 2:00pm
Quoting cluster
I understand on the 1h chart. ema is at 12 and 72.. . but what about on the 4hr chart ? should it stay the same or change it ? to what ?

No answer. I guess the ema settings is only for 1hr chart.
  • #616
  • Sep 23, 2012 2:21pm Sep 23, 2012 2:21pm
Quoting cluster
No answer. I guess the ema settings is only for 1hr chart.
I would not really say that cluster but Fxpro and other traders only trade the 1hr TF so basically none has tested it on the 4hr, but If u prefer the 4hr or higher it would be better you personally test it on that timeframe or anyone of your choice.
I am currently testing it on the 4hr TF using a max sl of 65 pips, which gives much less trades but the system works well from my point of view. But Its best you test it yourself to find out your own results.
  • #617
  • Sep 23, 2012 2:26pm Sep 23, 2012 2:26pm
Quoting Holy pips
I would not really say that cluster but Fxpro and other traders only trade the 1hr TF so basically none has tested it on the 4hr, but If u prefer the 4hr or higher it would be better you personally test it on that timeframe or anyone of your choice.
I am currently testing it on the 4hr TF using a max sl of 65 pips, which gives much less trades but the system works well from my point of view. But Its best you test it yourself to find out your own results.
ok cool. . I'll do that on the side with a demo. . but i'm doin good on 1hr. (live account) . just sucks sometimes i can't stay long hrs front of screen. . anyways.. thank you.
  • #618
  • Sep 23, 2012 3:35pm Sep 23, 2012 3:35pm
As a newbie, i do appreciate for posting information & ways which definitely help out to new comers.. but many of the info is going up from the head.. hope to catch it soon as i can after doing trade..
  • #619
  • Sep 23, 2012 5:22pm Sep 23, 2012 5:22pm
  •  Jamz
  • | Joined May 2012 | Status: Tops and bottoms are for bikinis | 798 Posts
I now see that this is NOT a trade as under Post #1 by FX-Pro. There is no pinbar through the 72 ema - price has merely crossed both the moving averages. The dotted line is a 200 ema I have used as S/R only. Please comment on my post if you think I have got it wrong/right? I am remembering that there may be only 2 or 3 available trades per week and am happy to wait for them to show up..........
James.
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  • #620
  • Edited 9:07pm Sep 23, 2012 7:36pm | Edited 9:07pm
Quoting Special4X
PA means for me to read the market participantīs minds. If you know what the stronger hands are willing to do you can win that game. So you are right with your statement in my opinion.
And you could post it in almost every thread as many deal with indicator based systems.
But: The topic here is the market approach of FX-Pro. No need to try spoiling his fun
Hey Special4X..

I don't think Davit was here to spoil the party..he's just stating a point about there is a lot of newbies on this thread and he's just trying to save them any frustrations and anger along the way..

I wish I heard this advice and let it sink in years ago as it's only been the last couple of years that I've seriously been looking at PA and S/R areas and I wish I knew about it in the beginning as it would have saved me a lot of $$'s and heart ache along the way..

Problem with any system we can get caught up in the hype of people throwing up all there winning charts left, right and center.. and not much of the losers and every one starts thinking it's the wholly Grail..and then the newbies think they've found it and start betting up big and before they know it there in the hole, frustrated, less money and angry and quitting Trading with out giving it a serious go..

This system works brilliantly how ever from my experience of trading over the years now I wouldn't be just taking every reversal off the 72ema and then cross back over the 12ema with a close as sometimes it's happening in a strong support or resistance area so you could be fighting a stronger element than an indicator and the price could then turn against you....also use the higher TF's to see where the price is heading and try and be on the right side of the price, follow the trend and make it line up with FX-Pro's system..

Newbies please take note of what Davit said as he is only trying to do you an important favor and save you heart ache...and the better you get at this the higher returns you will get just like FX-Pro

Cheers,
Adrian
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