Simple Money Making Method

good trading system but only in trend market....

scalpers zone

so quiet for A/U
... can hear "the flag" wavin'

sorry for the delayed response.... I dint see it...

Yes it is... but you need a way bigger momentum to enter with the re-entry method...

why because,,, price is half through already, & we are entering on the way... which means we need a clear confirmation to enter with re-entry setup....

Cheers,
FX-Pro

i know how frustrating it is, if you get away early from a positive ride...

its part of this business again PATIENCE!!!

i remember your call on this....

i entered though, couldn't stay longer but squeezed a good amount of pips.... until the US open today....

reading is the best way to keep our hands off from taking bad trades.... i suggest you shut down your chart till then....

Cheers,
FX-Pro

thank you for this method, it will help me earn more monies on the currency exchange market.

I know this isn't inline with FX Pro's system - just thought the members would like an opportunity to place a trade from fundamental analysis until a setup can occur with this method on the AU

Unless I am way off here the E/U has just hit a double top on the 1H, formed a beautiful bearish butterfly pattern, (although could be extended a bit), and everything is confirmed by the divergence on the AO bar (Price formed a new high, while AO failed).

Might be an opportunity to take a short and ride it to the 72 EMA, unless some significant news is released, don't see why it won't fall at least to the 72.

The closure of the current 1H bar is key. If it breaks that double top it may continue north.

The AU right now is too unpredictable at the moment.

Want to make sure this would be a valid setup for a long, if the candle closed as is on the 1H AU?

Or below it?

Hi Guys,
If current candle close above EMA 12 on A / U , there will be signal for
a long ?

Wow - straight crickets chirping in this room today

No clear setups today.

Hi guys
Not trading until next week so have sometime to brainstorm classic problem of range markets and how to avoid them.
70% range 30% trend generally
Most traders lose or get chopped up to pieces in range times and it got me thinking hard.How to avoid it.
To understand how to avoid range lets focus what makes a trend.

1.Price moves outside of range usually some news event,announcements by bank presidents ,Political turmoil,instability,major earthquick etc.
2.Price broke major support and resistance
3.Price failed to break major support and resistance and reversed the trend

So theoretically if nothing is happening of sort described above then we are most likey in range market.Since we already know 70% times price is ranging we can stay away from markets until better profitable times.
Most new traders become victim of trusting some lagging indi to enter the markets and get chopped to pieces because indicators can't accurately assist complex market conditions.
Once again you trust an indicator more then your head and eyes then you are screwed royally.
What is this has to do with this system.Everything! Just because you see a set up in isolation does not mean its a good one.
It is happening in high volume times? or low volume.Is it happening in range? or outside of range?Remember 70% is just sideways.
Anyway we will talk later.

There might not have been any trades setup from this system's perspective - but fundamentally there were tons! EU formed a double top - then went side ways for a bit and dropped (set a sell stop and TP of 30 pips - was nice to see that it banked this morning!), I posted the setup, no one responded.

The AU had a classic A,B,C,D then dropped. I set a sell stop and tp of 50 pips on AU (banked) . Incidentally, if you took a short on that pair, I would exit and take any profit as a Classic Bullish Gartley formed on the 1H & 4H (Chart attached).

If FXPRO doesn't mind I can from time to time drop some trade setups when there's nothing to be had from this system. Or I can take my ball and go home! But I enjoy helping people

One thing to avoid as a trader is getting tunnel vision on one system, with no wherewithal for fundamental chart analysis - It's critical to understand why you are taking a trade, not just that you think you should take a trade because everyone else is.

My analysis has returned roughly a 90% success rate, but I don't like talking to myself! I don't use a system, just straight up pattern recognition, candle formations.

If FX Pro takes offense to me offering trade setups, I’ll just keep it to myself. To be honest, I have had my own thread in this forum (under a seperate username), and I have no interest in starting a new one.

I’ve been through the other threads, there’s bickering, fighting arguing. I like this thread because of FXPRO’s comment to help newbies. And for the most part, everyone in this thread gets along!

9er
Not to sound negative but people posting crap like you just did is why lot of great traders don't post forums like this.
Nobody's analyses is 90% success! Best traders have made millions just being accurate 20% that means 80% of times their analyses was flawed.
Nobody knows the future so by default it is statistically impossible to be 90% successful.
If you mean out of 100trades you got 90% winners I like to see a statement posted to back that up.
Donchian whom I respect tremendously father of trend following knew that
4 of out 5 trades were failures because he knew it is virtually impossible to pinpoint beginning of a great trend or the end so he devised ways to minimize the losses and ride the big trend to make up the losses plus more.
Turtle trading was based on his trading system.
The guy was a genius,brilliant man and even him would not claim what you just did and he made millions!

little humility goes a long way

Your 1st sentance in your starting post claims 80% so yes, a little humility goes a long way.

My time is limited today.I went back my earilest posts and could not find it.Could you quote me the entire post please.I like to see it myself.

>Piprac,

Are you referring to FX Pro starting post? He quoted 80%.

Coast101

To me, fundamentals mean news, Beranke scratching nose, or Merlin waving wand etc etc.
Technical Analysis = things like double tops, triangles, flags, diamonds, combs and drawing lines
Being right or wrong only happens afterwards so is of no interest to me concerning trading. If you have a sell on and it reaches a technical level which indicates a buy, change your trade!
This system is a great introduction as a simple rule method for newcomers to trading and to teach patience for set-ups for those who want to become super-rich fast!!!

Hi all,

I just stumbled on this thread few days ago and like the simplicity of what I am reading, as it fits my trading style and will help to control my emotions and itchy fingers. Thank you Saravana for the thread.

Davit, I have enjoyed reading your comments and analysis, as I also like the ones from 9er even though it's been very few. Like 9er said in his post, "I like this thread because of FXPRO’s comment to help newbies. And for the most part, everyone in this thread gets along!" I will really appreciate if we can keep it this way and let every trader feel free with their comments or analysis and not be called names.

9er said and I quote - "My analysis has returned roughly a 90% success rate, but I don't like talking to myself! I don't use a system, just straight up pattern recognition, candle formations." His assertion or claim is not too different from what Saravana said at the very beginning of the thread - the very first line and statement, and I quote, "I've been trading this Method for almost 2 Years Now... with 80%+ Winning rate... " 80%+!!

I believe what 9er said, "But I enjoy helping people," and I believe that is what Davit has been doing too. So I think we can all use each other's help and not let our little differences here and there cause any rift. So please 9er, go ahead with your perspective as I do not think Saravana will mind, and if he does, he will say so.

You know why I am saying this, when you think something is not possible, there are ordinary, quiet people who are "nobodies" doing the impossible. I know a friend who has not made a single loss from March and that's 100% success rate. He will not come to any public forum to share his system and neither will he blow his horns, and I have copies of his trading statements - demo and live. I am not trying to prove anything but just saying there are ordinary traders who are doing exceptionally well and they are not known names. They are traders that have failed before and never gave up until they developed their own unique way of recognizing trends and entering trades. They have not allowed the big names in trading to define their limitations. Because the big names did not do it, does not mean you or I cannot do it. If they allowed the "great ones" before them to define their limitations, they too would probably not have achieved what they did.

We can friends, and let us work together. Let us raise the bar and work towards it.

So, I praise the courage of 9er to post his live analysis and we all saw the result. You know why I am praising him - I trade a different system and saw the same thing but did not post to alert anybody except a friend on skype, and you can see that in the attachment.

I will like to share ideas with other traders without the fear of being misunderstood and thereby develop confidence in my trading and ability. I like what Saravana said at the beginning of the thread, and think this should be the objective of all here - "To Help Newbies, & to Learn from the Experts." In post 26, he said, "any ways i'm open for learning new things.... let me know if you have a better MM.." This is my attitude - to learn new things from each of you, and also contribute something to each of you.

I think I found a home here, and will start making contributions from next week.

Good trading to all

Shalom, and God bless

George