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Simple Money Making Method

  • #1,561
  • Oct 26, 2012 9:42am Oct 26, 2012 9:42am
Quoting FX-Pro
this is a quick 20 pips.... closed first half & other half with BE now...

Its Friday today, can't expect much from this trade.... need to watch it closely to get out when required...

Cheers,
FX-Pro
closed the other half for 40 pips....

Done for the week....

Cheers,
FX-Pro
  • #1,562
  • Oct 26, 2012 9:48am Oct 26, 2012 9:48am
200 EMA, hourly support..let's see if it jumps..
Attached Image (click to enlarge)
Click to Enlarge Name: 20121026usdjpy.jpg Size: 105 KB
Ideas shape the course of history
  • #1,563
  • Oct 26, 2012 10:01am Oct 26, 2012 10:01am
Quoting FX-Pro
hi al2cand,

Could you please post your charts with the entries.....

FX-Pro
Hey FX-Pro, thanks for your help in advance, I am trying to focus on the strategy but what I am seeing from my journal:

problem1: I enter trades before 1H closes, creating fake signals
solution: Will only verify potential trades on the start of each hour

problem2: I bet too high sizes for my account resulting in unstable emotions on positions
solution: I wrote myself an indicator telling me my betsize (2%) at all time depending on volatility and my account size (see charts)

Finally, I think my main improvements will come when I stick to the plan, your ideas are welcome!

Chat1: EURCAD
Chart2: CADCHF
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurcad h1 26-10-2012.gif Size: 19 KB
Click to Enlarge Name: cadchf h1 26-10-2012.gif Size: 19 KB
  • #1,564
  • Oct 26, 2012 10:18am Oct 26, 2012 10:18am
Quoting Davit
I want to share something interesting.Note that my down candle is black and my volume down climax bar is black.
Notice how big black bar is tallest of all the bars? What this hints that institutional big money is selling not buying.I am not suggesting changing your trading or this system.I am just showing another view of the market.
Forex volume?
What is your volume indicator based upon?
  • #1,565
  • Oct 26, 2012 10:24am Oct 26, 2012 10:24am
Quoting al2cand
Hey FX-Pro, thanks for your help in advance, I am trying to focus on the strategy but what I am seeing from my journal:

problem1: I enter trades before 1H closes, creating fake signals
solution: Will only verify potential trades on the start of each hour

problem2: I bet too high sizes for my account resulting in unstable emotions on positions
solution: I wrote myself an indicator telling me my betsize (2%) at all time depending on volatility and my account size (see charts)

Finally, I think my main improvements will come when I stick...
You've identified your problems. You dont need FXPro to fix them. Make sure you keep a journal of what you're meant to do and you will do it.
  • #1,566
  • Oct 26, 2012 11:56am Oct 26, 2012 11:56am
Quoting FX-Pro
Good luck...

Keep it simple, & practice to learn price action....

Cheers,
FX-Pro
I'm sure this is a basic answer but what do you mean by price action???
  • #1,567
  • Oct 26, 2012 12:06pm Oct 26, 2012 12:06pm
Quoting well0143
I'm sure this is a basic answer but what do you mean by price action???
http://www.forex4noobs.com/forex-trading-strategy/

Hope that helps!

Rgds, C.
Ideas shape the course of history
  • #1,568
  • Oct 26, 2012 1:43pm Oct 26, 2012 1:43pm
Quoting omni
Forex volume?
What is your volume indicator based upon?
Based upon my brokers order flow.I have 2 accounts main MB trading and Oanda which I use for hedging purposes and volume.Their volume reflects I believe market at large since they are huge.
I understand I was skeptical myself since forex is not centralized therefore no singular volume however larger brokers reflect what is going on in the market.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #1,569
  • Oct 26, 2012 1:46pm Oct 26, 2012 1:46pm
Quoting newride
That makes sense and worth taking chance. I am already short from 6104...target 70 pips will add more after 40 pips.

.
I hope you closed it with profit.It dropped to 88.Not much regretfully.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #1,570
  • Oct 26, 2012 2:14pm Oct 26, 2012 2:14pm
Quoting FX-Pro
Don't worry... keep an alarm set every hr on your mobile... & take a glance... on your chart, thats what i do, i take 2 to 5 minuts every hr to look at the chart... of all the pairs i trade...

Cheers,
FX-Pro
That´s what I´ll do in the future
This is a very good thread. Good system and helpful veteran traders.
Very noob-friendly so far... unlike other threads.

I would like to thank everybody here, especially fxpro, ciara and davit for all the knowledge and tips about trading you have posted here.. and also for your heads-up on possible forming setups.

Although I usually try to stick to my own analysis before opening a position, my final decisions have been largely influenced by all your tips this past few weeks .
I certainly have learned a lot here.

Good weekend to everybody
  • #1,571
  • Oct 26, 2012 3:40pm Oct 26, 2012 3:40pm
Quoting FX-Pro
closed the other half for 40 pips....

Done for the week....

Cheers,
FX-Pro

Hi Fx Pro

I m new to your thread. can u please attach indicators used for your easy system

wil b greatful

fxmyluv
  • #1,572
  • Oct 26, 2012 4:22pm Oct 26, 2012 4:22pm
Quoting Davit
Hi Saravan
I figure everyone will dump their Long positions as time gets near to NFP
I read 10 different forecasts and all positive.
One can exit before the News just in case and be safe.
Regards
Hi Davit

I read 10 different forecasts and all positive.

pls tell where u find these 10 forecasts

fxmyluv
  • #1,573
  • Oct 26, 2012 4:54pm Oct 26, 2012 4:54pm
Quoting FX-Pro
With PAC... we are still on demo so i prefer to wait to close above/below the whole PAC, however if you are experienced, then you will not wait for the price to breach the whole PAC...

the purpose of PAC is to identify the ranging market & the strength of trending market....

here is the Example.....
Hi FX-Pro

8 ema is a good introduction & i am backtesting it.

Which TFs do u think we can use it on

please guide. Thanks
  • #1,574
  • Oct 26, 2012 7:11pm Oct 26, 2012 7:11pm
Quoting Ciara
http://www.forex4noobs.com/forex-trading-strategy/

Hope that helps!

Rgds, C.
awesome thank you very much!!!
  • #1,575
  • Edited 9:00pm Oct 26, 2012 7:21pm | Edited 9:00pm
Quoting FX-Pro
A/U 1H - Text book entry, Same entry on NZD/USD As well, but i entered with my max lot on A/U Itself based on my risk percentage... so no entry on NZD/USD....
Hey FX-PRo, just trying to understand your method a bit more. The reason you took this entry, would be due to a rebounce from the 200 ema as you said, then closing on the high side of 72Ema would indicate that its going to go high and not fall.


Is that how you look at it?
  • #1,576
  • Oct 26, 2012 7:42pm Oct 26, 2012 7:42pm
Quoting 919gilead
I am short the AU and targeting the next demand zone below. If price breaks 1.0200, I will move my stop to BE and possibly adjust my target too. This is M30 chart and the H1 is very similar too.

George
Hi 919gilead

please tell me how u clouded the chart. gives a very good view.


regds
  • #1,577
  • Oct 26, 2012 11:34pm Oct 26, 2012 11:34pm
Quoting well0143
Hey FX-PRo, just trying to understand your method a bit more. The reason you took this entry, would be due to a rebounce from the 200 ema as you said, then closing on the high side of 72Ema would indicate that its going to go high and not fall.


Is that how you look at it?
I'll attempt to answer you.
Quoting well0143
would indicate that its going to go high and not fall
Nobody knows exactly PA may drop and it can drop anytime for reason or no reason.We are attempting to turn the odds (edge) in our favor based upon past behavior of price in similar situations.
The channel is intended as a cushion,confirmation to prevent whipsaw market conditions which happen 70% of times.
Once it is cleared from the channel then you can enter.
Personally I like the original concept from page one and channel was added by FX-Pro I suspect to help newbies.
It is important you understand the principle involve.We are buying or selling on pull backs which is normal PA moving characteristic.
Fib retrace is based upon it.Notice wave pattern.Once you understand the underlining inner workings of PA things start to come together.

http://www.forexfactory.com/attachme...1&d=1351260022
In trading, you have to be defensive and aggressive at the same time
  • #1,578
  • Oct 27, 2012 12:22am Oct 27, 2012 12:22am
I want to post something inspirational.Too many negative things about Forex we read constantly such as 95% failure rate etc.
To succeed and become wealthy in forex or trading is possible many people have done so.
My inquire has always been why those traders succeeded and vast numbers failed.
To be honest traders who succeeded 1st of all loved trading,were positive thinkers,worked on their psychology,methods,inquired discipline and the will power to stick to principals.
Law of attraction takes care the rest.One success snowballs into another and gets bigger and bigger.
Be relentless, try harder,set higher goals.I push myself daily and love it.My wife thinks I am obsessed and I am.
I am going to post something worth looking at. Just 3k account in 5yrs at 10% a month (not week) becomes almost a million.
I am sure lot of negative people will say can't be done.Well I aim high and If I fail and make 300k instead of million that's still fantastic result from 3k account.
Do you see my point? Don't let negative people crash your dream.Aim high and be relentless!
Few after thoughts
1.Don't use high leverage
2.Its a slow turtle race (monthly profits)
3.No set ups don't force trades
4.Focus things that need improving
5.Be positive always don't get carried away by winners or losers
6.What others think impossible is possible!
7.Law of attraction dictates our results
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.JPG Size: 86 KB
In trading, you have to be defensive and aggressive at the same time
  • #1,579
  • Oct 27, 2012 2:13pm Oct 27, 2012 2:13pm
Quoting fxmyluv
Hi 919gilead

please tell me how u clouded the chart. gives a very good view.


regds
You have many questions all answered within this thread. I suggest you read it.
  • #1,580
  • Oct 27, 2012 10:58pm Oct 27, 2012 10:58pm
Quoting fxmyluv
Hi 919gilead

please tell me how u clouded the chart. gives a very good view.


regds
It's an MA indicator and you can download it here.
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