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Simple Money Making Method

  • #1,601
  • Oct 29, 2012 12:19am Oct 29, 2012 12:19am
Have Infinite Patience.
(When there's nothing to do, Do nothing)

Source : The Winning investment Habit of Warren Buffet & George Soros by Mark Tier


I thought its appropriate to post the above to those who are trigger happy in dead market.
To add more if you can't see and define your edge then you should not enter a trade.

In trading, you have to be defensive and aggressive at the same time
  • #1,602
  • Oct 29, 2012 12:48am Oct 29, 2012 12:48am
Update on the Hurricane sandy - this may impact our market as well.

http://www.forexlive.com/blog/2012/1...closures-dcny/
  • #1,603
  • Oct 29, 2012 1:08am Oct 29, 2012 1:08am
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?
Yes that’s what we call it as probability!
  • #1,604
  • Oct 29, 2012 1:17am Oct 29, 2012 1:17am
Quoting Davit
I'll attempt to answer you.

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...
Thanks davit... & you are right, the PAC is Intended for newbies & those who Struggle to identify the price action movements.

  • #1,605
  • Oct 29, 2012 1:21am Oct 29, 2012 1:21am
Quoting Davit
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...

Good one brother....

Compounding is one of the best way to build your accound, but not everyone can do it, unless you are well experienced... on this business

Cheers,
FX-Pro
  • #1,606
  • Oct 29, 2012 1:23am Oct 29, 2012 1:23am
Quoting missH
Hi FX-Pro,

Thank you for your thread. What is your means 1:1?

Risk Reward ratio
  • #1,607
  • Oct 29, 2012 1:30am Oct 29, 2012 1:30am
Quoting Davit
Major storm is on its way to North East where I live Boston.PA is dropping so far I don't know if it is related.I doubt it but markets do what it does.
PA may drop to 2890 area (orange box) either go through or rebound back up.

Davit - Hope you are doing fine & safe, i pray for all my brother & sisters there....
  • #1,608
  • Oct 29, 2012 1:36am Oct 29, 2012 1:36am
Quoting Davit
Have Infinite Patience.
(When there's nothing to do, Do nothing)

Source : The Winning investment Habit of Warren Buffet & George Soros by Mark Tier

I thought its appropriate to post the above to those who are trigger happy in dead market.
To add more if you can't see and define your edge then you should not enter a trade.

Excellent.... right one for all our thread members....

Cheers,
FX-Pro
  • #1,609
  • Oct 29, 2012 1:38am Oct 29, 2012 1:38am
Quoting FX-Pro
Davit - Hope you are doing fine & safe, i pray for all my brother & sisters there....
Thanks Sarvana
I lost my new furnace due to recent basement flood and I am worried for another flooding much worse this time.
I got extra pumps ready but power outage would be horrible.
I just hope power stays on.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #1,610
  • Oct 29, 2012 1:39am Oct 29, 2012 1:39am
Quoting omni
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.
Thanks - Omni,

Hope he follows the basics & makes some pips, thats the ultimate... lets wish him good luck.
  • #1,611
  • Oct 29, 2012 4:05am Oct 29, 2012 4:05am
Quoting Davit
Thanks Sarvana
I lost my new furnace due to recent basement flood and I am worried for another flooding much worse this time.
I got extra pumps ready but power outage would be horrible.
I just hope power stays on.
Regards
Buy power generators? If you have valuble stuff in the basement, this is not to big of an investment.

BR
  • #1,612
  • Oct 29, 2012 6:29am Oct 29, 2012 6:29am
Thank you master.

Quoting FX-Pro
Risk Reward ratio
  • #1,613
  • Oct 29, 2012 7:09am Oct 29, 2012 7:09am
Worth watching this.....
Attached Image (click to enlarge)
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  • #1,614
  • Oct 29, 2012 7:52am Oct 29, 2012 7:52am
Quoting FX-Pro
Worth watching this.....
just noticed it had crossed the resistance line you had put in so i decided to go short, lets see what happens
  • #1,615
  • Oct 29, 2012 7:59am Oct 29, 2012 7:59am
could GU drop possible 20 pips more?
  • #1,616
  • Oct 29, 2012 8:04am Oct 29, 2012 8:04am
entered at 6055. As 1st target I will aim for 6030
  • #1,617
  • Oct 29, 2012 8:26am Oct 29, 2012 8:26am
Quoting well0143
just noticed it had crossed the resistance line you had put in so i decided to go short, lets see what happens
Did you go through the basic concept of this method....

its not a safe entry immediately after a support turned as resistance or a resistance turned as a support, instead you should wait for a pull back after the cross..... that is the safe entry.... wait for a proper bounce always... it may be positive trade for now but not always....
Attached Image
  • #1,618
  • Oct 29, 2012 8:33am Oct 29, 2012 8:33am
Quoting Mr.Deghayes
could GU drop possible 20 pips more?
Nope.... i don't know...

i don't predict the market... instead i just move with the price...

if you ask me after i enter a trade, then i would say the near supply/demand or a RN or swing (Target) etc etc...

but now i don't know...

Cheers,
FX-Pro
  • #1,619
  • Oct 29, 2012 8:35am Oct 29, 2012 8:35am
Quoting diver78
entered at 6055. As 1st target I will aim for 6030
Hi Diver78,

Could you please post your entry along with your entry on it....
  • #1,620
  • Oct 29, 2012 8:46am Oct 29, 2012 8:46am
first target destroyed.. 6030 closed 1 lot and moved SL of second lot to BE.
Now aiming for 1.6000
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