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Simple Money Making Method

  • #921
  • Oct 3, 2012 4:05am Oct 3, 2012 4:05am
placed Long EURUSD order : tp: 1.2970 , sl:1.2857

Regards,
  • #922
  • Oct 3, 2012 4:08am Oct 3, 2012 4:08am
Who else on this E/U Trade...?
  • #923
  • Oct 3, 2012 4:11am Oct 3, 2012 4:11am
Quoting FX-Pro
Who else on this E/U Trade...?
im out with just 15 pips. Looked like momentum was slowing
  • #924
  • Oct 3, 2012 4:15am Oct 3, 2012 4:15am
Dear Folks,

Look at the left side of your chart...

do you see a clear trend, No.
what does it mean... we cant hold this trade for long time...
Its not set & forget trade.... need to watch it carefully. & has to be closed when price hesitates to move further...

so take care,

FX-Pro
Attached Image (click to enlarge)
Click to Enlarge Name: Ex.png Size: 33 KB
  • #925
  • Oct 3, 2012 4:20am Oct 3, 2012 4:20am
Quoting airgead
im out with just 15 pips. Looked like momentum was slowing
Not bad... as long as you close the trade positive, irrespective of pips, its a good trade,

Slowly learn to hold the trade. This method is less trade for more pips….

Cheers,
FX-Pro
  • #926
  • Oct 3, 2012 4:28am Oct 3, 2012 4:28am
Dear FX-Pro,

with your method I place the tp to be 50+ and sl to be -60 by the time i take the trade.
Do you think its a good practice ? I tried to minimize the sl However sometimes the swing is too high and i lose a winning trade by hitting the sl.

Regards,
  • #927
  • Oct 3, 2012 4:31am Oct 3, 2012 4:31am
Quoting FX-Pro
Not bad... as long as you close the trade positive, irrespective of pips, its a good trade,

Slowly learn to hold the trade. This method is less trade for more pips….

Cheers,
FX-Pro
I noticed this setup and thought it might give strength to the eur usd trade
Attached Image (click to enlarge)
Click to Enlarge Name: eur jpy.jpg Size: 136 KB
  • #928
  • Oct 3, 2012 4:36am Oct 3, 2012 4:36am
I'm planning to go long when the resistance line is broken 1.2939. not sure if it's correct.any advice?
  • #929
  • Oct 3, 2012 4:39am Oct 3, 2012 4:39am
Quoting airgead
I noticed this setup and thought it might give strength to the eur usd trade
Good practice....

I usually look for USD/CAD, which will move opposite to E/U

Cheers,
FX-Pro
  • #930
  • Oct 3, 2012 4:43am Oct 3, 2012 4:43am
Quoting huchonok
I'm planning to go long when the resistance line is broken 1.2939. not sure if it's correct.any advice?
I think the best time and place to enter according to this method is when the H1 candle close above the EMA12, which is around 2912.

If we are late, and price has moved away (positively) from 2912, i think it'd better not to chase the trade and wait for the next opportunity. Alternatively, if we insist to be on the bandwagon, we may place buy limit at 2912.

Just my 50 cents. Cheers.
  • #931
  • Oct 3, 2012 4:46am Oct 3, 2012 4:46am
Quoting fahadkw
Dear FX-Pro,

with your method I place the tp to be 50+ and sl to be -60 by the time i take the trade.
Do you think its a good practice ? I tried to minimize the sl However sometimes the swing is too high and i lose a winning trade by hitting the sl.

Regards,
Nope... its not a good practice... if SL goes more than 35 pips, you think if its worth taking that huge risk.... meaning it should be the extreme overbought/oversold area need to have lot of room to score pips,
in other words you should identify the roof & the floor to enter the trade.

try to enter from RN or Supply/demand area, which may reduce your SL.

Cheers,
FX-Pro
  • #932
  • Oct 3, 2012 4:49am Oct 3, 2012 4:49am
Quoting coo.za
I think the best time and place to enter according to this method is when the H1 candle close above the EMA12, which is around 2912.

If we are late, and price has moved away (positively) from 2912, i think it'd better not to chase the trade and wait for the next opportunity. Alternatively, if we insist to be on the bandwagon, we may place buy limit at 2912.

Just my 50 cents. Cheers.

I appreciate your help. Thanks a lot
  • #933
  • Oct 3, 2012 4:53am Oct 3, 2012 4:53am
Quoting coo.za
I think the best time and place to enter according to this method is when the H1 candle close above the EMA12, which is around 2912.

If we are late, and price has moved away (positively) from 2912, i think it'd better not to chase the trade and wait for the next opportunity. Alternatively, if we insist to be on the bandwagon, we may place buy limit at 2912.

Just my 50 cents. Cheers.
True...!

Also you may find a retracement the moment you enter the trade, consequently you will lose confidence in the trade...

Alternatively, look for a re-entry setup (pull back on the support) instead of break of the resistance zone.

Cheers,
FX-Pro
  • #934
  • Oct 3, 2012 5:58am Oct 3, 2012 5:58am
Quoting FX-Pro
Dear Folks,

Look at the left side of your chart...

do you see a clear trend, No.
what does it mean... we cant hold this trade for long time...
Its not set & forget trade.... need to watch it carefully. & has to be closed when price hesitates to move further...

so take care,

FX-Pro
half position BE & the other half with +25 Pips, something is better than nothing....

Cheers,
FX-Pro
Attached Image
  • #935
  • Oct 3, 2012 6:07am Oct 3, 2012 6:07am
Folks,

We may find another entry if the current bar closes above the 12EMA...

you never know...

Cheers,
FX-Pro
Attached Image (click to enlarge)
Click to Enlarge Name: Ex.png Size: 13 KB
  • #936
  • Oct 3, 2012 6:50am Oct 3, 2012 6:50am
Quoting FX-Pro
Nope... its not a good practice... if SL goes more than 35 pips, you think if its worth taking that huge risk.... meaning it should be the extreme overbought/oversold area need to have lot of room to score pips,
in other words you should identify the roof & the floor to enter the trade.

try to enter from RN or Supply/demand area, which may reduce your SL.

Cheers,
FX-Pro
thanks for the explanation
  • #937
  • Oct 3, 2012 7:47am Oct 3, 2012 7:47am
Quoting FX-Pro
Folks,

We may find another entry if the current bar closes above the 12EMA...

you never know...

Cheers,
FX-Pro
Nope....!
  • #938
  • Oct 3, 2012 7:49am Oct 3, 2012 7:49am
I'm still short on the AU, second day. Waiting to the bar close above 12 ema to go out.
Sorry for my bad english
Attached Image (click to enlarge)
Click to Enlarge Name: au short.JPG Size: 132 KB
I know where the market is going to move next: to the righ! XD
  • #939
  • Oct 3, 2012 7:56am Oct 3, 2012 7:56am
Quoting fugio
I'm still short on the AU, second day. Waiting to the bar close above 12 ema to go out.
Sorry for my bad english
150 Pips.... its been more than a month that I've seen that number....

Excellent... keep up the good work...

Cheers,
FX-Pro
  • #940
  • Oct 3, 2012 9:12am Oct 3, 2012 9:12am
i closed my EURUSD long order with -27 loss .
1.2925 -> 1.2898

Regards,
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