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Simple Money Making Method

  • #701
  • Sep 25, 2012 1:31pm Sep 25, 2012 1:31pm
Thanks for quick reply.

Looking "left", I see the lows of 8-12 hours ago.

Maybe, if we get a "pullback", I will consider a "short".

Much success with you short trade.

C...101

Quoting Davit
I took the trade without even looking at the chart and funny you are correct its a nice set up.I trade on overall sentiment as well.Euro is heading south in near future.If I have to guess 1.27 at least.
Price broke last night below 2900 so PA has touched lower levels. Weird as this may sound once price touches a level it is bound to visit there again.
Today price hike was an impulse wave.Another thing to consider. We are almost end of NY session hence Price was driven by high volume
earlier and now it does not have a muscle to push up anymore.
Asia...
  • #702
  • Sep 25, 2012 8:19pm Sep 25, 2012 8:19pm
there is no doubt that the trading method is one of the simplest to trade.
we do not need to monitor the charts all time to get an entry but only have a look on the chart when the hour close to an end to check whether the price is closing to the 72ema. if price is far far away from 72ema, we can even leave the charts for hours.

i would say this is suitable for medium term investors and is a trend riding method.

wonder is there anyone mind to posting the trading record weekly based? monthly also good.http://www.forexfactory.com/images/icons/icon10.gif
patient....
  • #703
  • Sep 25, 2012 8:26pm Sep 25, 2012 8:26pm
Quoting Ramjet
Top stuff Davit!...agree with all of this 100%!
20 years of Psychology..your not Walter Peters are you??

Nope, he is definitely not.
  • #704
  • Sep 25, 2012 10:26pm Sep 25, 2012 10:26pm
Closed my trades or rather it hit my TP
Long US/CAD at 9785 Open TP
SHORT Euro at 2952 TP 2900
+72 pips before London
In trading, you have to be defensive and aggressive at the same time
  • #705
  • Sep 25, 2012 10:30pm Sep 25, 2012 10:30pm
Things to watch tonight
Impulse buy on Euro and Cable then proceed sell again.
Don't short now since I believe we will see higher numbers later on London.
In trading, you have to be defensive and aggressive at the same time
  • #706
  • Sep 25, 2012 10:38pm Sep 25, 2012 10:38pm
You really should have kept this system to yourself. Just wait a few months now.
What is any ocean but a multitude of drops?
  • #707
  • Sep 25, 2012 10:54pm Sep 25, 2012 10:54pm
Quoting Xhale12
You really should have kept this system to yourself. Just wait a few months now.
What is your point?
In trading, you have to be defensive and aggressive at the same time
  • #708
  • Sep 25, 2012 10:55pm Sep 25, 2012 10:55pm
Quoting Davit
Lately I have been thinking about how to improve this system.

Basic concept of this system is bounce from 72EMA towards dominate trend.I simply replaced 72EMA with 50EMA and found bounces more frequent and more clear.

Notice how 72 missed quite many great set ups but 50 hit it bulls eye.
Your comments are welcome.
The rainbow 72mma on my charts falls in the 50ema range.
Yeoman the "Tough Luck" Trader =p
  • #709
  • Sep 25, 2012 11:03pm Sep 25, 2012 11:03pm
noted with thanks..
seems like the price move slowly around 1.290 now in TF 15mins..
Just wait for the trade.



Quoting Davit
Things to watch tonight
Impulse buy on Euro and Cable then proceed sell again.
Don't short now since I believe we will see higher numbers later on London.
  • #710
  • Sep 25, 2012 11:06pm Sep 25, 2012 11:06pm
Quoting Yeoman
The rainbow 72mma on my charts falls in the 50ema range.
Yes true.Its important to understand that the Bounce is a "zone" to me.I'll say 50-72EMA's seems healthy.
In trading, you have to be defensive and aggressive at the same time
  • #711
  • Sep 25, 2012 11:07pm Sep 25, 2012 11:07pm
When this catches on here, it will no longer work nearly as well. Trust me I know from experience.

I don't understand why anyone who clearly has developed an edge, would choose to share it publicly on an internet forum.

Quoting Davit
What is your point?
What is any ocean but a multitude of drops?
  • #712
  • Sep 25, 2012 11:12pm Sep 25, 2012 11:12pm
closed the first lot +50 pips
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  • #713
  • Sep 25, 2012 11:18pm Sep 25, 2012 11:18pm
Matu where was you stop there? I'm suprised you stayed in the trade when priced spiked above the last swing. In the future, I would be more conservative with your stop. You got lucky on this one.
What is any ocean but a multitude of drops?
  • #714
  • Sep 25, 2012 11:21pm Sep 25, 2012 11:21pm
Quoting Xhale12
When this catches on here, it will no longer work nearly as well. Trust me I know from experience.

I don't understand why anyone who clearly has developed an edge, would choose to share it publicly on an internet forum.
We are a extremely small fish in huge ocean hence it would not matter.
I would argue even if things are laid out clearly still only small number of traders would profit because trading takes lot more then any system.
Experience counts a lot.Knowledge count a lot.Money management counts a lot.If someone thinks they will become wealthy by just following MA's then they are mistaken.
Great traders incorporate 20+ systems simultaneously.Lets say you know Elliot Wave theory well and understand what it means impulse wave.
A trader unaware of theory may panic and close the trade with a loss only to see PA come down in less then 1hr.(I've been there)
Example last night on cable Price went 6260 for no reason at All and I knew it was on impulse buy and sold it all the way down to 6222.
Its the little things that make a difference.
So rest assure this system will be healthy (I have no doubt) even if this thread dies.
In trading, you have to be defensive and aggressive at the same time
  • #715
  • Sep 25, 2012 11:27pm Sep 25, 2012 11:27pm
Quoting Xhale12
Matu where was you stop there? I'm suprised you stayed in the trade when priced spiked above the last swing. In the future, I would be more conservative with your stop. You got lucky on this one.
stop 50 pips, later stop moved
  • #716
  • Sep 25, 2012 11:30pm Sep 25, 2012 11:30pm
Been Trading this system for a while now.. pretty good system. I've been using it with TDI indicator.. It seems that it filters out some of the bad trades that i used to take. . I hope it works with you as it is with me. . feel free to backtest it , and point out something i'm missing. . open for you point of view . .

In the graph I"m only paying attention to the Yellow and green lines . .
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  • #717
  • Sep 25, 2012 11:38pm Sep 25, 2012 11:38pm
Quoting cluster
Been Trading this system for a while now.. pretty good system. I've been using it with TDI indicator.. It seems that it filters out some of the bad trades that i used to take. . I hope it works with you as it is with me. . feel free to backtest it , and point out something i'm missing. . open for you point of view . .

In the graph I"m only paying attention to the Yellow and green lines . .
Problem with TDI to me is just another lagging indicator.By the time it is crossed like the ones on your graph almost 50% of the move is missed.
That's one of the reasons I changed 72EMA to 50 on my trading.To get more of the move.
Funny thing creator of TDI Dean Malone does not even use it in live trading.
The ones who paid money to watch him "teach them to trade" were surprised that he traded without it even though he sells his "advance" indicator package which include TDI.
Dean Malone is not a trader.He makes money from selling webinars
In trading, you have to be defensive and aggressive at the same time
  • #718
  • Sep 25, 2012 11:41pm Sep 25, 2012 11:41pm
Quoting Davit
Problem with TDI to me is just another lagging indicator.By the time it is crossed like the ones on your graph almost 50% of the move is missed.
That's one of the reasons I changed 72EMA to 50 on my trading.To get more of the move.
Funny thing creator of TDI Dean Malone does not even use it in live trading.
The ones who paid money to watch him "teach them to trade"
Dean Malone is not a trader.He makes money from selling webinars
oh. I did not know that. Interesting, thanks. . I'll try 50 ema see how I do.
  • #719
  • Sep 25, 2012 11:44pm Sep 25, 2012 11:44pm
Quoting cluster
Been Trading this system for a while now.. pretty good system. I've been using it with TDI indicator.. It seems that it filters out some of the bad trades that i used to take. . I hope it works with you as it is with me. . feel free to backtest it , and point out something i'm missing. . open for you point of view . .

In the graph I"m only paying attention to the Yellow and green lines . .
Hey Everyone..

Just an example if you look at where the Indicator showed no entry..look at the following bar...it did not take out the bar that showed an entry..this is worth noting to keep you out of false trades so I wouldn't be always taking just a close of the bar...alot of systems are built around the same idea of waiting for a break of the trigger bar..

Also the 12EMA is one bad boy..if you look around there are alot of systems that run on this indicator or close..8/10EMA, 10SMA but all are a bit to sensitive to price as the 12EMA I think is pretty good as it keeps you as close to price as possible I feel with turning points in the market..also it can be used to stay in trades alot longer also earlier entries at extremes for a reversal..

Test the 14RSI..if price is above the 50 level it may give you confidence to stay long or take a long entry..the same going short..below the 50 trade short..

I've used the 150ema for a while and know it's good but now the 200 looks good to...so I split them and did a 180EMA...have a look you might like it..

Try the 60EMA as not to sensitive and has good touches also..

There isn't just one way to use a system..make it your own and test, test, test...did I forget to say test

Ok, I'll go away now, I talk to much, waffle might be more appropriate! lol

Cheers,
Adrian
  • #720
  • Sep 25, 2012 11:52pm Sep 25, 2012 11:52pm
Quoting cluster
oh. I did not know that. Interesting, thanks. . I'll try 50 ema see how I do.
It is important that we understand trading the markets more holistically that is more fundamentally instead of indicators.
No indicator can tell you why the price moved but to understand why it moved and where it may stop is essential to become a successful trader.

I'll illustrate this in more plain language.
Lets say waiter was hired and he only knew drink names Manhattan,Cosmopolitan,old fashion etc
Costumers ordered he got it from the bartender.He never bothered to know the ingredients of those drinks and one day bartender calls sick on busy dinner and nobody to assist him to make those drinks and embarrassingly out of panic he tells every costumer that they don't have those drinks.
Needless to say the outcome was negative.
In trading, you have to be defensive and aggressive at the same time
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