Simple Money Making Method | Page 54 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

SIMPLE EA for a simple method needed!! 2 replies

Making Money is Extremely Simple 38 replies

bo7a method... method for GBP/JPY 205 replies

Making an EA: "Simple Method of Scalping any pair by Imran Sait" 82 replies

Simple trading method 49 replies

Attachments: Simple Money Making Method
Exit Attachments

Simple Money Making Method

  • #1,061
  • Oct 5, 2012 8:21am Oct 5, 2012 8:21am
Dear Folks,

This is the NFP driven data, so its good to stay away from the market...

See you all next week,

wish you all have a great weekend..

Cheers,
FX-Pro
Attached Image (click to enlarge)
Click to Enlarge Name: Ex.png Size: 12 KB
  • #1,062
  • Oct 5, 2012 8:33am Oct 5, 2012 8:33am
FX-Pro

Was disappointed to read the negative comment posted by someone. Disappointed for two reasons. First, anyone who has a system that is right 80% of the time for the last two should be thanked not condemmed. Second, I have seen a lot of systems presented that frankly, just won't work for me, but have not and will not condemn the system or its presenter. As you well know, traders come in all strips, so what doesn't work for me could very well work quite nicely for some one else.

I have done very well since I adopted your system and want to thank you for sharing it with the forum.

Cheers,
Puritan
  • #1,063
  • Oct 5, 2012 10:51am Oct 5, 2012 10:51am
Anyone watching this pair?
Attached Image (click to enlarge)
Click to Enlarge Name: NU_05.10.12_2.jpg Size: 89 KB
  • #1,064
  • Oct 5, 2012 10:52am Oct 5, 2012 10:52am
Quoting coo.za
Sold
Survived NFP, TP (27 pips) reached.
  • #1,065
  • Oct 5, 2012 11:13am Oct 5, 2012 11:13am
Hi all,
I just registred to thanks fx-pro for sharing this amazing system,
I'm a newbie in trading but this sytem used properly offers incredible results,
It works damned good on eurusd as well

so once again THANKS
  • #1,066
  • Oct 5, 2012 11:18am Oct 5, 2012 11:18am
Hi,

First time using this system after keeping my finger from pressing F9 button in MT4 for a week because can not find valid entry signal until tonight.

Short at 1.02478, SL 1.02740, TP 1.2078. Trailing stop at 20 pips
Got 40 pips after 8 hours of holding my breath...

thanks FX Pro for sharing your system
Attached Image
  • #1,067
  • Oct 5, 2012 11:38am Oct 5, 2012 11:38am
Hi Fx! I just stumble on your system now. It's a wonderful and easy to follow system. I want to give it a trial. I will give you a feedback.
  • #1,068
  • Oct 5, 2012 11:56am Oct 5, 2012 11:56am
the system did give us a valid entry on AUDUSD and its paying off now
however i was not near the PC since yesterday.

happy weekend all.

Regards,
  • #1,069
  • Oct 5, 2012 1:22pm Oct 5, 2012 1:22pm
Quoting FX-Pro
Guys Never underestimate the simplicity.....

I take 12 to 16 Trades a month with a minimum of 50 Pips & a Max Of 150 pips per Trade...

we have a re-entry setup as well, which will be discussed later...

Another advantage of this method is that, it avoids Over trading.... i was known for over trading when i was a newbie...

Cheers
FX-Pro
Over trading?? What is that ...

I know what you are talking about there. One of the other tough things to keep from doing on simple things that work is to start over complicating them with additional rules and methods when you have a draw down or the market starts acting odd for a period of time.

I have been very guilty of this over the years - its the constant strive for perfection that has to be kept in check. You can easily take something simple that works and turn it into something complicated and convoluted that does not work or dramatically increases the trade rate in attempts to avoid losing at times.
  • #1,070
  • Oct 6, 2012 11:42am Oct 6, 2012 11:42am
My long heavy positions on UCAD is still open.Didn't panic even though Price dropped 80pips against me.I did buy more from the bottom 9760.
Moving on.

There are lot of new traders coming to "systems" looking for holly grail.There is none.Even if "system" is laid out plain English with clear entry and exit still bulk of traders will lose money irregardless.
The reasons are multiple but most obvious lack of experience and unwillingness to learn.
Truth is trading is part science,behavior and Art and we need to focus on all three.
I will post a link here for great supply and demand videos.Every trader should know and intuitively understand this vital aspect.
I bet you have taken a "break out" trade only after 10-20pips (stop hunt) Price sharply reverses and takes you out on SL.
Institutional trading tactic and happens every day.Knowledge of what is really going on is important because systems can't teach you the hundreds of nuances of trading.
Work on your exits.More important then entry.Professional traders know that how you exit a trade determines your profitability and loss.
Watch Jason Alan Jankovsky - In Through the Out Door
I really dig this professional trader who actually trades instead of snake oil salespeople.
He explains better about exits.
Anyway just chipping in. Just a final note if someone held your head underwater for over 2min what would you think about? Air right? Now think trading same way!Anything less is failure statistic.
In trading, you have to be defensive and aggressive at the same time
  • #1,071
  • Oct 6, 2012 4:15pm Oct 6, 2012 4:15pm
Quoting Davit
My long heavy positions on UCAD is still open.Didn't panic even though Price dropped 80pips against me.I did buy more from the bottom 9760.
Moving on.

There are lot of new traders coming to "systems" looking for holly grail.There is none.Even if "system" is laid out plain English with clear entry and exit still bulk of traders will lose money irregardless.
The reasons are multiple but most obvious lack of experience and unwillingness to learn.
Truth is trading is part science,behavior and Art and we need to focus on all three.
I will...
Hi David,
Appreciate your contributions.
Just wondering what your 5 x long USDCAD has to do with this method?
All taken lower down using this method? I must have missed the posts.
  • #1,072
  • Oct 7, 2012 8:15am Oct 7, 2012 8:15am
Quoting qwert01
Hi Davit! This an usdcad chart on a daily basis, I do not see any evidence for an uptrend. What is your reason to go long?
I trade with few methods.
1.position (cad orders)
2.MA cross with a filter
3.and this system
4.Price Action with combination all above.In fact most of my trades are on naked charts.

I see great value on the Cad but this is in confluence with my believe that Euro is due for major downturn which will push the Dollar value up hence Cad Long position.
I also hold trades more then 3-4 days so I have a longer view in mind.My TP levels are 9860-9880
I trade with reduced lot sizes hence allowed multiple entries with better prices.In fact I suggest this method to everyone.
So if my intend was 4 lot order I break it up into 4 1lot orders even break up sometimes 8 1/2 orders.
This maximizes profits but also allows discretion if you decide the trade was not correct then your investment would of been only 1 lot to begin with instead of initial 4.


I do apologize injecting my orders in this thread that have nothing to do with the system.My sincere apologizes and wont happen again.
In trading, you have to be defensive and aggressive at the same time
  • #1,073
  • Oct 7, 2012 3:22pm Oct 7, 2012 3:22pm
Quoting Davit
I trade with few methods.
1.position (cad orders)
2.MA cross with a filter
3.and this system
4.Price Action with combination all above.In fact most of my trades are on naked charts.

I see great value on the Cad but this is in confluence with my believe that Euro is due for major downturn which will push the Dollar value up hence Cad Long position.
I also hold trades more then 3-4 days so I have a longer view in mind.My TP levels are 9860-9880
I trade with reduced lot sizes hence allowed multiple entries with better prices.In fact I suggest...
I think it would be great if you included these other orders. I see this thread as being owned by fx pro with you as '2nd in command' so it'd be great to learn these extra enhancements from someone with so much experience.

Maybe fx pro should make the decision?
  • #1,074
  • Oct 7, 2012 6:07pm Oct 7, 2012 6:07pm
Quoting FX-Pro
Hey Guys....

I've been trading this Method for almost 2 Years Now... with 80%+ Winning rate...

This is the Cream of what I've learnt from different Forum/thread.... used almost every indicator available.... tried all possible combinations…

Finally Ended up With Price Action, Supply Demand & the Trend.... this is more than enough to make pretty good money from this business... & I’m the witness for it.

Objective of this thread….

To Help Newbies, & to Learn from the Experts.

Who Can Trade This?

This method...
Would it be possible for a coder to create an indicator that would follow the 72 EMA and 12 EMA making sure the 72 was below the 12 and then give a buy signal if a single one hour candle breached below the 72 EMA and then closed above the 12 EMA? Vice versa for a sell.
  • #1,075
  • Oct 7, 2012 10:05pm Oct 7, 2012 10:05pm
Omni

In my view it would be great if we kept this thread on topic so that we can learn from FX-Pro regarding his system that he has traded successfully for more than 2 years with 80+ % winners. It was probably that info that brought you to this thread in the first place.

Davit is relatively new to forex and I'm sure he is learning a lot. He certainly has commented a lot in the past 7 months. (This is said with no dis-respect to Davit, but you can obtain this info from his Profile page).

If you want to follow Davit's trades, he has his own Journal page on FF. You can find the link on his Profile page.

Please let's just keep the comments on this thread on the topic of FX-Pro's system.
  • #1,076
  • Oct 8, 2012 4:49am Oct 8, 2012 4:49am
I have noticed one thing that is somewhat confusing to me: the entry rules (page 1) say: "The entry Candlestick should be one single bar rejecting from 72 EMA & Closing Below/Above 12EMA." I understand it as stating that the regection and close below/above 12EMA should be one and the same candlestick, i.e. the two EMAs must be very close or actually touching. On the other hand, in the chaarts posted here I have seen entries separated by several bars after the rejection. My question is this: is this one and the same candlestick rule sort of optional? ("poetic license")|?
Thank you
  • #1,077
  • Oct 8, 2012 4:51am Oct 8, 2012 4:51am
Hi Guys,

I think no entry yet for today.

- maybe there will be long entry for EURUSD
- if anyone have AUDUSD position since last week I think its the right time to close the short trade, Right ?
- if anyone have GBPUSD position since last week then he should keep it open since the price is still droping.

Regards,
  • #1,078
  • Oct 8, 2012 5:23am Oct 8, 2012 5:23am
MidnightRun,

as I noticed sometimes the entry is separated by 2 or 3 candlesticks, for me I wait for a candlestick that close below/above 12EMA in full body to place the order that's why my entries is mostly separated by more than 1 single candlestick.

Regards,
  • #1,079
  • Oct 8, 2012 6:53am Oct 8, 2012 6:53am
Quoting mihwan
Hi,

First time using this system after keeping my finger from pressing F9 button in MT4 for a week because can not find valid entry signal until tonight.

Short at 1.02478, SL 1.02740, TP 1.2078. Trailing stop at 20 pips
Got 40 pips after 8 hours of holding my breath...

thanks FX Pro for sharing your system
This is what i exactly look for a trade....

Good one....
  • #1,080
  • Oct 8, 2012 7:08am Oct 8, 2012 7:08am
Hi Folks,

As mentioned in the beginning, I would like to give the cream of what I’ve learnt; my objective here is not to prove any one… but to share the idea of my trading method…why? Because I learnt from here & I want to give it back to many other people who stumble to get on the run way…
Hence, let’s continue with what we are intended for & let’s not divert the thread for any reason…

Cheers
FX-Pro
0 traders viewing now