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Simple Money Making Method

  • #1,761
  • Nov 1, 2012 1:25am Nov 1, 2012 1:25am
Quoting Davit
Sunny why not try the updated system with 8EMA pac.That's what FX-Pro recommends.It acts as a nice filter from whipsaw range periods
If not familiar instead of 12EMA replace with 8EMA High 8EMA low
72EMA and 200EMA
Thanks Davit.

Good point.
I actually like having the original settings on there as it helps me to see price "better", but definitely will set up a parallel chart with the 8 PAC on there.

Cheers

Sunny C
  • #1,762
  • Nov 1, 2012 1:40am Nov 1, 2012 1:40am
Just heads up on GU PA may go higher on GU then EU ,AU because of this
Attached Image
In trading, you have to be defensive and aggressive at the same time
  • #1,763
  • Nov 1, 2012 1:50am Nov 1, 2012 1:50am
Attached Image (click to enlarge)
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I'm always fascinated by how others set up their charts.

This is how I'll be watching the 2 pairs I've chosen for this method.

If anybody has time, would love to see how they view their charts on their platform.

H4 chart is an idea I've absorbed from Davit's post way back in this thread.

Cheers

Sunny C
  • #1,764
  • Nov 1, 2012 2:05am Nov 1, 2012 2:05am
GU is about to break upper channel but either case I won't take the trade because of strong resistance at 6140 which I highlighted.
We must show discretion, only taker high probability trades.
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In trading, you have to be defensive and aggressive at the same time
  • #1,765
  • Edited 3:17am Nov 1, 2012 2:55am | Edited 3:17am
Could EU be a possible short entry if candle rejects 72 ema?
  • #1,766
  • Nov 1, 2012 3:27am Nov 1, 2012 3:27am
Quoting newride
Could EU be a possible short entry at 1.2937?
Here you go....

I'm little worried about this support zone.... otherwise i would have entered, though its not exactly a bounce trade....
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  • #1,767
  • Nov 1, 2012 4:08am Nov 1, 2012 4:08am
Hi chaps

Posting my entry below. It doesn't stick to the strategy exactly (no clear bounce) but it almost bounced.

Let me have your thoughts
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  • #1,768
  • Nov 1, 2012 4:10am Nov 1, 2012 4:10am
Hi everyone

It was interesting in looking at the trading graphs posted by FX_Pro in Post # 1744 and Davit in Post # 1756.

We know this method of trading has been used by FX_Pro for more than the past 2 years (he said so in the very first post). He said trading the AUD/USD should equate to 12 to 16 trades per month. He has since traded a couple of other major currencies. His trading graph is VERY impressive and reflects a great result for STICKING TO THE SYSTEM without adding a variety of other indicators.

WE have recognised that Davit is an enthusiastic writer but he has shown throughout the past month that he has not followed the system as outlined by FX-Pro. However, as a relative newbie to forex trading I can sympathise with him wanting to trade a lot whilst learning to find what trading method suits his personality.....................but 138 trades for the month would make me want to "have a Bex and a lie down" (sorry, that was the line from an old advertisement).

I hope the newbies stick FX-Pro's equity chart on their wall to show what they can achieve IF they FOLLOW THE SYSTEM. Make November the month where you follow the system rules and trade the currencies traded by FX-Pro.

This is a good consistent method. Challenge yourself and stick to the rules for a month so that your equity chart can match FX-Pro's at the end of the month.


Regards
  • #1,769
  • Nov 1, 2012 4:28am Nov 1, 2012 4:28am
Quoting duffy
Hi everyone

It was interesting in looking at the trading graphs posted by FX_Pro in Post # 1744 and Davit in Post # 1756.

We know this method of trading has been used by FX_Pro for more than the past 2 years (he said so in the very first post). He said trading the AUD/USD should equate to 12 to 16 trades per month. He has since traded a couple of other major currencies. His trading graph is VERY impressive and reflects a great result for STICKING TO THE SYSTEM without adding a variety of other indicators.

WE have recognised that Davit is...
Excellent comments Duffy.

By reading this entire thread from Post #1 anyone would be able to grasp what is being offered here.

I hope the newbies stick FX-Pro's equity chart on their wall to show what they can achieve IF they FOLLOW THE SYSTEM. Make November the month where you follow the system rules and trade the currencies traded by FX-Pro.

This is a good consistent method. Challenge yourself and stick to the rules for a month so that your equity chart can match FX-Pro's at the end of the month.

For me that is the holy grail of trading right there. Being able to stay focused month in month out on a specific way of trading that not only "suits" your style but ensures that you are solidly profitable every month.

I have set up a small demo account for November for this specific purpose.
$5,000 balance. 1:100 leverage. Trade 0.10 lots on each trade.
This is a MUST DO for me!! Stick to one method for an entire month.

Cheers

Tony
  • #1,770
  • Nov 1, 2012 5:00am Nov 1, 2012 5:00am
Attached Image (click to enlarge)
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  • #1,771
  • Nov 1, 2012 5:07am Nov 1, 2012 5:07am
Sunny, your order has nothing to do with this thread.Review the entry rules of the system.
  • #1,772
  • Nov 1, 2012 5:12am Nov 1, 2012 5:12am
Quoting bogdan1
Sunny, your order has nothing to do with this thread.Review the entry rules of the system.
Is that so???

POST #1
Entry :-

•Look for a Reject from 72 EMA
•Enter after the price closed above/Below the 12 EMA
•The entry Candlestick should be one single bar rejecting from 72 EMA & Closing Below/Above 12EMA & should be a Pinbar, Marubozu, Engulfing Pattern… Etc

1. We have a reject from 72 EMA.
2. Enter after price closed above the 12 EMA. (Old rule but valid IMHO)
3. Entry candlestick is one single bar rejecting from 72 EMA.

Where have I gone wrong Bogdan?
  • #1,773
  • Nov 1, 2012 5:25am Nov 1, 2012 5:25am
E/U Analysis on 4H
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  • #1,774
  • Nov 1, 2012 5:26am Nov 1, 2012 5:26am
Quoting Sunny Coast
Is that so???

1. We have a reject from 72 EMA.
2. Enter after price closed above the 12 EMA. (Old rule but valid IMHO)
3. Entry candlestick is one single bar rejecting from 72 EMA.

Where have I gone wrong Bogdan?
Hi Sunny

If you look to the left of your entry, you will see that this pair has been in a fairly tight range with a clear lack of momentum. Ideally you want to trade a pair that is trending and that has pulled back to the 72 and is getting ready for the next push up or down.
  • #1,775
  • Nov 1, 2012 5:51am Nov 1, 2012 5:51am
What's this I see????? Trendlines??? Channels???

I'm soooooooooooooooo confused.

As per Davit, I thought we could only look at Moving Averages and Round Numbers??????
  • #1,776
  • Edited 6:19am Nov 1, 2012 6:01am | Edited 6:19am
Quoting duffy
Hi everyone

It was interesting in looking at the trading graphs posted by FX_Pro in Post # 1744 and Davit in Post # 1756.

His trading graph is VERY impressive and reflects a great result for STICKING TO THE SYSTEM without adding a variety of other indicators.

I hope the newbies stick FX-Pro's equity chart on their wall to show what they can achieve IF they FOLLOW THE SYSTEM. Make November the month where you follow the system rules and trade the currencies traded by FX-Pro.

This is a good consistent method. Challenge yourself and stick...
Thanks for the kind words duffy, Its just a matter of patience, most of the traders fail because of emotions, a trader may achieve 70% of success by controlling his/her emotions, the other 30% depends on the skill & the market conditions…

So what I’m demonstrating here on this thread is just 30%, the other 70% depends on the individuals.

My dear folks control your emotions & live a saintly life while you trade… when I took trading as my carrier my intention was just to make money…. But it thought me how to lead a life, a peaceful life now…

It will go off topic if I continue this, this is something which depends on individuals... lets leave it like that…

Cheers,
FX-Pro
  • #1,777
  • Nov 1, 2012 6:13am Nov 1, 2012 6:13am
Quoting leemon
Hi Sunny

If you look to the left of your entry, you will see that this pair has been in a fairly tight range with a clear lack of momentum. Ideally you want to trade a pair that is trending and that has pulled back to the 72 and is getting ready for the next push up or down.
I think the below chart will give clarity... its ranging in just 30 Pips for the last couple of days... look for trade once the price clears this range...

Cheers,
FX-Pro
Attached Image
  • #1,778
  • Nov 1, 2012 6:19am Nov 1, 2012 6:19am
Quoting FX-Pro
It will go off topic if I continue this, this is something which depends on individuals... lets leave it like that…
FX-Pro
Please excuse me if I take it a little more off topic... is the "be good & do good" quote from Swami Sivananda?
  • #1,779
  • Nov 1, 2012 6:29am Nov 1, 2012 6:29am
Quoting FX-Pro
I think the below chart will give clarity... its ranging in just 30 Pips for the last couple of days... look for trade once the price clears this range...

Cheers,
FX-Pro
Thanks Leemon and FX-Pro.

Your words are very true, very true.

I just like the look of today's price action at London Open.

72 EMA and 200 EMA are in correct alignment.
There seems to be upside pressure under 1.0400.

I'm sure the market will give me the extra education I need.

Cheers

Sunny C
  • #1,780
  • Nov 1, 2012 6:39am Nov 1, 2012 6:39am
Quoting leemon
Please excuse me if I take it a little more off topic... is the "be good & do good" quote from Swami Sivananda?


nope....

It was taught by my teacher when I was in grade 10… he was a strict person but my favourite, who lived as an example & showed the purpose of our existence in this world…

The crane (My Avatar) is the symbol of patience, if you notice them carefully, you will see that they don’t catch all the fishes which crosses them in the lake, it will wait hours together patiently to get that single fish THE RIGHT FISH…. So as a trader, we have to learn from them….

Cheers,
FX-Pro
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