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Simple Money Making Method

  • #1,701
  • Oct 31, 2012 5:15am Oct 31, 2012 5:15am
I think it's down to someones trading style and strategy. The major thing is to stick to it no matter what.

I have closed the trade because I've seen rejection (pinbar-not very good but still) of the resistance level so in my strategy this is a signal to get out of the trade.


Quoting well0143
but due to the bar breaking the resistance could we be looking at the trade going further and not rebounding, or take the pips and run
  • #1,702
  • Edited 7:37pm Oct 31, 2012 5:19am | Edited 7:37pm
well i would just like to say i followed the trade euro us recognised the bar trigger traded live and made a nice 20 pips, also made 20 pips on the same trigger use chf closed both trades by following fx-pro trade first live trades for me and I'm very happy will post my charts tommoro "south australian", i need to go study for exams good luck with the next session. And i hope all the eastern americans are safe good luck everyone
  • #1,703
  • Oct 31, 2012 6:18am Oct 31, 2012 6:18am
Quoting fx light
ok i will
after holding this postion for 3 days i decided to close for 30 pips profit when i saw the 12 ema cross the mid band of the bollinger band. but that is not in the exit rule of this system i felt i held on too long. looking now, it's still going down, anyways am current the eurusd uptrend. thanks to fxpro for sharing his nice system. i hope this explains it.


the earth is the lord's and the fullness thereof.
i am the lord that giveth thee power to create wealth.
  • #1,704
  • Oct 31, 2012 6:20am Oct 31, 2012 6:20am
Quoting fx light
after holding this postion for 3 days i decided to close for 30 pips profit when i saw the 12 ema cross the mid band of the bollinger band. but that is not in the exit rule of this system i felt i held on too long. looking now, it's still going down, anyways am current the eurusd uptrend. thanks to fxpro for sharing his nice system. i hope this explains it.


the earth is the lord's and the fullness thereof.
sorry here is the chart
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i am the lord that giveth thee power to create wealth.
  • #1,705
  • Oct 31, 2012 7:07am Oct 31, 2012 7:07am
Buying the pullback to 200 EMA
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Ideas shape the course of history
  • #1,706
  • Oct 31, 2012 7:27am Oct 31, 2012 7:27am
Update : -

I can hold A/U Trades longer… but I don’t know why, these pairs are new to me & I find it so difficult to hold the trade for long time….

Anyways… this is exactly what I look for to enter a trade…. Unfortunately I couldn’t post the charts when I took the trade as I was busy in office work….

Hope you guys will have better understanding on what exactly I look for to enter a trade….

I closed EU first (the second bar after I enter the trade) any reason? Yes, look at the Pin hanging on the RN… that scared me & I closed immediately… not just that it is also a strong Resistance area… If you zoom out your chart you will be able to see that

Soon as I closed E/U… I dint have faith in USD/CHF… they both move just opposite to each other… most of the time this co-relation will support our entry & gives extra confirmation for our trades… just like this trade…

Cheers,
FX-Pro
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  • #1,707
  • Oct 31, 2012 7:38am Oct 31, 2012 7:38am
Quoting bolo
Got to be careful here on USD/CHF as price reached support/resistance from past. Just my 2 cents to this trade.
Good observation... you have good future in this business... Keep it up bolo

Cheers,
FX-Pro
  • #1,708
  • Oct 31, 2012 7:41am Oct 31, 2012 7:41am
Quoting well0143
well i would just like to say i followed the trade euro us recognised the bar trigger traded live and made a nice 20 pips, also made 20 pips on the same trigger use chf closed both trades and turned my 200$ account into $230 by following fx-pro trade first live trades for me and I'm very happy will post my charts tommoro "south australian", i need to go study for exams good luck with the next session. And i hope all the eastern americans are safe good luck everyone
Just wait for the right setup... you see the trigger....

Good luck to your trade & exams....
  • #1,709
  • Oct 31, 2012 7:45am Oct 31, 2012 7:45am
Quoting fx light
sorry here is the chart
FX light.... you are doing a great job.... i suggest you to practice your eyes without those extra indis on your chart.... you will see crystal clear triggers in course of time...

Good luck
FX-Pro
  • #1,710
  • Oct 31, 2012 7:56am Oct 31, 2012 7:56am
Quoting FX-Pro
Update : -

I closed EU first (the second bar after I enter the trade) any reason? Yes, look at the Pin hanging on the RN… that scared me & I closed immediately…... not just that it is also a strong Resistance area… If you zoom out your chart you will be able to see that
here is the key area that i told you guys....

Cheers,
FX-Pro
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  • #1,711
  • Oct 31, 2012 7:59am Oct 31, 2012 7:59am
I'm going short on AU, counter trend. prince bounce on my s/r area and pass through the 12 ma. let's see how it go.
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I know where the market is going to move next: to the righ! XD
  • #1,712
  • Oct 31, 2012 8:35am Oct 31, 2012 8:35am
Quoting FX-Pro
FX light.... you are doing a great job.... i suggest you to practice your eyes without those extra indis on your chart.... you will see crystal clear triggers in course of time...

Good luck
FX-Pro
thanks fx pro , i have noted your recommendation

ye are the light of the world, a city set on an hide cannot be hidden
i am the lord that giveth thee power to create wealth.
  • #1,713
  • Oct 31, 2012 8:39am Oct 31, 2012 8:39am
Quoting fugio
I'm going short on AU, counter trend. prince bounce on my s/r area and pass through the 12 ma. let's see how it go.
I don't know if its worth taking this risk.... IMO you don't get much from the counter trades... its a key area of-course... but at-least i would expect a price pattern like LL/LH kind of stuff...

anyways...

Good luck to you...
  • #1,714
  • Oct 31, 2012 10:17am Oct 31, 2012 10:17am
Hi,

This is my first trade according to the system. Closed +16 as it was a counter trend trade. I hope i did right.

Thanks
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Make money Not pips
  • #1,715
  • Oct 31, 2012 10:19am Oct 31, 2012 10:19am
Quoting balle1973
Hi,

This is my first trade according to the system. Closed +16 as it was a counter trend trade. I hope i did right.

Thanks
Yes.. right ballel1973.... but, better practice with the trend to score more pips....

Good luck to you
  • #1,716
  • Oct 31, 2012 10:21am Oct 31, 2012 10:21am
Hallo Davit,
Would you please to inform the book or material of WALTER PETER?
Thank you

Quoting Davit
Good day FX-Pro (could we call you some human name?)

About my trades.
Cad did reach 9760 however I closed my order at 40.Next time....
Bought the Cad again just now at 9735.It looks like this support level is holding.
On personal note reading Walter Peters is great.Here is one worth reading.

Why I Add to Winning Positions

Many traders find a great trade setup; take the trade, and then watch. If the trade goes in the opposite direction - if the trade does not do well many traders will consider adding to the position. Averaging...
  • #1,717
  • Oct 31, 2012 10:22am Oct 31, 2012 10:22am
Quoting fugio
I'm going short on AU, counter trend. prince bounce on my s/r area and pass through the 12 ma. let's see how it go.
Brother fugio - Hope you too scored some pips from this trade.....
  • #1,718
  • Edited 12:33pm Oct 31, 2012 11:30am | Edited 12:33pm
Quoting FX-Pro
Brother fugio - Hope you too scored some pips from this trade.....
Thank you!
I'm still holding it. Sl on breakeven now, if price get rejected by the 72 MA, I will close it. I'm risking a little profit to stay on track if price pass the MA.
I saw a rejection candle but if the actual candle close below the MA 8 channel, I will hold it a little more, if no, well, I will be able to grab some green pips too!.


Ok, closing now, +8pips.
I know where the market is going to move next: to the righ! XD
  • #1,719
  • Oct 31, 2012 1:43pm Oct 31, 2012 1:43pm
Hi Davit,
Please inform what kind of books that are good to read?
Thank you

Quoting Davit
Man you made me blush.I don't think I deserve that kind praise.
But thanks anyway.Book is fantastic.Pay attention how he talks about psychology comparing child's fear of dog,trama and how that forms bias etc.
For me its still a challenge mentally holding to a winning trade longer.I can't tell you how many times I closed a winning trade at 20pips only to drop another 50pips.That's psychology too.How we overcome our fears.
I have made progress but still have work to do on this.Last week I shorted the Aussie at 52 only to see it drop to 1.033 200pips...
  • #1,720
  • Oct 31, 2012 1:57pm Oct 31, 2012 1:57pm
Quoting antonsatu
Hi Davit,
Please inform what kind of books that are good to read?
Thank you
Dear Antonsatu
Click on my name and click on my posts on this thread and you will find the information.
It shows some work on your part and determination to succeed.
Regards
In trading, you have to be defensive and aggressive at the same time
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