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Simple Money Making Method

  • #941
  • Oct 3, 2012 10:16am Oct 3, 2012 10:16am
A/U is oversold... may move north from here....! (1.0200)

Cheers,
FX-Pro
  • #942
  • Oct 3, 2012 1:00pm Oct 3, 2012 1:00pm
Quoting FX-Pro
A/U is oversold... may move north from here....! (1.0200)

Cheers,
FX-Pro
I am watching this as well.I rather go long on AU then short since my broker charges biggest swap on this pair and going short is costly when it stalls.
I am watching to see PA break 20 level.Looking at weekly it has a potential to go as low as .96
Attached Image (click to enlarge)
Click to Enlarge Name: au.gif Size: 18 KB
In trading, you have to be defensive and aggressive at the same time
  • #943
  • Oct 3, 2012 1:42pm Oct 3, 2012 1:42pm
Quoting fahadkw
i closed my EURUSD long order with -27 loss .
1.2925 -> 1.2898

Regards,
i took the same trade but one pip more but i'm going to hold and not give no money back!
  • #944
  • Oct 3, 2012 2:31pm Oct 3, 2012 2:31pm
Quoting Mr.Deghayes
i took the same trade but one pip more but i'm going to hold and not give no money back!
Suppose we enter down trend which looks very probable and Price drops another 50pips making your 28pip loss a 88pips loss how would you deal with that situation.Wait? or close? Suppose you wait and Price drops another 50pips what then? How would you judge your conduct.

Answer honestly
In trading, you have to be defensive and aggressive at the same time
  • #945
  • Oct 3, 2012 2:55pm Oct 3, 2012 2:55pm
well I closed the order since the price was ranging around 72EMA and I couldn't trust the long order anymore.

Regards,
  • #946
  • Oct 3, 2012 3:06pm Oct 3, 2012 3:06pm
Quoting fahadkw
well I closed the order since the price was ranging around 72EMA and I couldn't trust the long order anymore.

Regards,
you did the right thing.Think of a loss as business as usual.Don't get attached to it emotionally nor get attached to wins.
Look at weekly.monthly % wins/loss not individual trades. If out of 50 trades you had 20 wins you can still show profit.How So? by cutting your losses short and letting profits run.
80% George Soros orders were lossers but 20% were massive winners.
In trading, you have to be defensive and aggressive at the same time
  • #947
  • Oct 3, 2012 3:24pm Oct 3, 2012 3:24pm
Quoting Davit
Suppose we enter down trend which looks very probable and Price drops another 50pips making your 28pip loss a 88pips loss how would you deal with that situation.Wait? or close? Suppose you wait and Price drops another 50pips what then? How would you judge your conduct.

Answer honestly
i very much doubt the drop tbh the trend on the boilender bands is to touch 1.292
so i will make a 4 pip loss.
  • #948
  • Oct 3, 2012 3:43pm Oct 3, 2012 3:43pm
Quoting Mr.Deghayes
i very much doubt
Expect the unexpected.Markets are unpricdable becouse it is depending on traders willing to buy and sell.Right now its kind of even equilibrium however there is strong selling pressure building up and longer it stays in equilibrium
stronger the breakout.
Not to scare you but something worth thinking.Usually new traders are overconfident that they can't be wrong whereas serious traders know its just a probability game and one can be wrong many times and wrong is to be expected.
In trading, you have to be defensive and aggressive at the same time
  • #949
  • Oct 3, 2012 10:59pm Oct 3, 2012 10:59pm
Potential set up in progress on GU
Attached Image (click to enlarge)
Click to Enlarge Name: au.gif Size: 20 KB
In trading, you have to be defensive and aggressive at the same time
  • #950
  • Oct 3, 2012 11:08pm Oct 3, 2012 11:08pm
[quote=Davit;6066949]Expect the unexpected.Markets are unpricdable becouse it is depending on traders willing to buy and sell.......

....that's totally right.....no one can predict where the market wants to go......in order to win big one must respect it and accept many small losses without any emotion attached.....otherwise you will be defeated by yourself psychologically.....
  • #951
  • Oct 3, 2012 11:23pm Oct 3, 2012 11:23pm
[quote=surewin;6067503]
Quoting Davit
Expect the unexpected.Markets are unpricdable becouse it is depending on traders willing to buy and sell.......

....that's totally right.....no one can predict where the market wants to go......in order to win big one must respect it and accept many small losses without any emotion attached.....otherwise you will be defeated by yourself psychologically.....
Surewin welcome to the club
Nice name.

I am extremely tempted to short GU at nice whole number 6100 and what is holding me back is lack of volume.There is no muscle to move anything now.I suspect London may push PA to our set up 6120 before shorting.
In trading, you have to be defensive and aggressive at the same time
  • #952
  • Oct 4, 2012 12:46am Oct 4, 2012 12:46am
PA is really fked tonight.Hard to figure out.Little frustrating from lock of volume.
On EU PA very likely to retrace 2960 level and most likely resume downtrend.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 16 KB
In trading, you have to be defensive and aggressive at the same time
  • #953
  • Oct 4, 2012 2:05am Oct 4, 2012 2:05am
Hi FX-Pro,

Firstly, Thanks for sharing the amazing PA method u used to trade.
i am newbie to forex , looking at the chart may i know how to determine the Entry and Exit ? is this the Candle touch the 12 and 72 EMA ? or either Candle touch the either 12 EMA or 72 EMA ? that's where u measure the Entry ?

Thank you in advance if you could enlighten me

Regards
Jackal



Quoting FX-Pro
Closed the position with 111 Pips...

Done for the week...

Will give you more update in the coming week.... Stay tuned...

Cheers,
FX-Pro
  • #954
  • Oct 4, 2012 2:35am Oct 4, 2012 2:35am
Dear Folks,

Here is an initiative to take this method to the next level,

I took three weeks to test this on the historical data & it works really well, I request all the followers/members/visitors to demo this before entering with your live account (Including me) once when we get used to it we can for a live…

The current 12EMA will be replaced with 8 EMA High & Low, which will give a Price Action Channel

Price above the upper channel – Strong buy…
Price below the lower channel – Strong sell…
Price inside the channel – Ranging (No Trade)

Benefit;-

> Helps to read price action better,
> Gives better picture where the price will move next.
> Avoids ranging market (A most important aspect for trading)
> We have been trading only the trend, but this helps to trade counter as well (Still under testing)
> The number of trades may increase considerably (need to be careful you may get greedy)

Entries:

Trading away from the main trend (Trend Following entries)

1.Bounce trade – Single Bar Bounce from 72/200 EMA & Close below/above the PAC

2.Re-entry trade – Can be a bounce from any of the supply/demand zone / RN closing above/below the PAC

Trading towards the main trend (Counter trend) Under Testing & should be traded only on demo)

1.Should be a bounce from any of the strong supply/demand zone / RN closing above/below the PAC

Remember that we may not expect huge pips on counter trade but 1:1 should be a good RR

Again I would like to recall the Basic concept of SM3

http://www.forexfactory.com/showthre...21#post6016221

Looking forward for your valuable comments….

Good luck to all.
FX-Pro
  • #955
  • Oct 4, 2012 2:55am Oct 4, 2012 2:55am
This is how it looks like...!
Attached Image (click to enlarge)
Click to Enlarge Name: Ex.png Size: 36 KB
  • #956
  • Oct 4, 2012 3:03am Oct 4, 2012 3:03am
Hello Fx pro, its a god system, but now with the 8 ema, I think its more dificult, where is the enteres? ken you post a img with the new enteres?
  • #957
  • Oct 4, 2012 3:04am Oct 4, 2012 3:04am
Hi Fx-pro,

Thanks for sharing. I will test it out on demo. The PAC is very easy to identify the ranging.
  • #958
  • Oct 4, 2012 3:11am Oct 4, 2012 3:11am
Quoting FX-Pro
This is how it looks like...!

Thanks Fx.
Kindly mark the entries on chart for better understanding . and i sent you a PM please read and reply .
  • #959
  • Oct 4, 2012 3:19am Oct 4, 2012 3:19am
Quoting shum
Hello Fx pro, its a god system, but now with the 8 ema, I think its more dificult, where is the enteres? ken you post a img with the new enteres?
human tendency... difficult to adopt new things... plot PAC on your chart & try to identify,

Will post entries in the next post

FX-Pro
  • #960
  • Oct 4, 2012 3:36am Oct 4, 2012 3:36am
Quoting FX-Pro
human tendency... difficult to adopt new things... plot PAC on your chart & try to identify,

Will post entries in the next post

FX-Pro
I plot it, and analizing the new rules, yes, now I see the ranging market, but the most part of entries are still dificult, coz entries candels always cleave to the EMA..
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