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Simple Money Making Method

  • #1,841
  • Edited 5:19am Nov 5, 2012 5:02am | Edited 5:19am
All the MAs are exponential. Also, I took davit's 50 MA
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  • #1,842
  • Nov 5, 2012 5:19am Nov 5, 2012 5:19am
Quoting fx light
I believe PAC stands for price action channel and not price action candle. this channel is formed when you add 8ema of the high and 8 ema of the low to your chart.
Thanks for explaining that fx light. Having added the High & Low 8 EMAs to my chart (which already contains the 12, 72 and 200 EMAs), are we not in danger of overcomplicating this otherwise straight forward strategy?
Most people have the will to win, few have the will to prepare to win
  • #1,843
  • Nov 5, 2012 5:19am Nov 5, 2012 5:19am
Quoting Trucomallica
All the MAs are exponential.
Yes, we could have taken this trade, if we see a new low - meaning a strong reject..... from the RN & close below all the previous bars (Price action). I call it as a re-entry method.

here is the proper re-entry setup....

http://www.forexfactory.com/showthre...87#post6011487
  • #1,844
  • Nov 5, 2012 5:32am Nov 5, 2012 5:32am
Quoting FX-Pro
Yes, we could have taken this trade, if we see a new low - meaning a strong reject..... from the RN & close below all the previous bars (Price action). I call it as a re-entry method.

here is the proper re-entry setup....

http://www.forexfactory.com/showthre...87#post6011487
I totally see what you mean. But on that example I wouldn't had taken the trade with that big ugly upward wick on your entry candle hehe.

Thank you very much for your explanation, but I messed up the easyorder TP and was taken out at BE LOL.
  • #1,845
  • Edited 5:53am Nov 5, 2012 5:35am | Edited 5:53am
fxpro would you clarify this setup you mentioned earlier which turned BE

Your entry candle stays clearly into the 8emaPAC, (2h 'easter time' candle)
Then there is indecision-PAC-test afterward showing lack of momentum, (3h 'easter time' candle)
Then there is a PAC piercing, but momentum could be seen as too slow due to the previous indecision.

This process makes sense not to enter, I would like your opinion, also what do you think about my nzdusd entry previously posted?
  • #1,846
  • Nov 5, 2012 5:52am Nov 5, 2012 5:52am
Quoting burnzmeister
Thanks for explaining that fx light. Having added the High & Low 8 EMAs to my chart (which already contains the 12, 72 and 200 EMAs), are we not in danger of overcomplicating this otherwise straight forward strategy?
Hi burnzmeister,

PAC is just an option to view the Price action more clearly, if you think your chart is not clear enough by adding PAC... then you can stick to 12 EMA itself.... the objective here is that you should be able to read the PRICE ACTION Irrespective of your indis...
  • #1,847
  • Nov 5, 2012 5:58am Nov 5, 2012 5:58am
Quoting al2cand
fxpro would you clarify this setup you mentioned earlier which turned BE

Your entry candle stays clearly into the 8emaPAC, (2h tf candle)
Then there is indecision-PAC-test afterward showing lack of momentum, (3h tf candle)
Then there is a PAC piercing, but momentum could be seen as too slow due to the previous indecision.

This process makes sense not to enter, I would like your opinion, also what do you think about my nzdusd entry previously posted?
Very simple....

when i entered the trade... i see a clear reject from 72EMA & close below 12EMA, so i entered, if there is an indecision after my entry, then its my bad luck... just throw heikenashi on your chart & see.... you will have a better view of your chart....

Cheers,
FX-Pro
  • #1,848
  • Nov 5, 2012 6:13am Nov 5, 2012 6:13am
maybe one has to say that BE is not "really" bad luck

Quoting FX-Pro
Very simple....
when i entered the trade... i see a clear reject from 72EMA & close below 12EMA, so i entered, if there is an indecision after my entry, then its my bad luck...

Cheers,
FX-Pro
Money is important, Love is essential.
  • #1,849
  • Nov 5, 2012 6:55am Nov 5, 2012 6:55am
Quoting FX-Pro
Hi burnzmeister,

PAC is just an option to view the Price action more clearly, if you think your chart is not clear enough by adding PAC... then you can stick to 12 EMA itself.... the objective here is that you should be able to read the PRICE ACTION Irrespective of your indis...
Okay FX_Pro, thank you for the explanation. For me, I don't find the 8 EMAs useful, but everyone to their own.

Anyone watching the Loonie H4? Good USD PMI figures will surely cause this to tank as we had a dreadful CAD Building Permits 90 minutes ago...
Most people have the will to win, few have the will to prepare to win
  • #1,850
  • Nov 5, 2012 7:11am Nov 5, 2012 7:11am
Took the Loonie trade on H4: Bounce from the 72 EMA, intersection of the 12 EMA, Bad figures for CAD - Building Permits, Only a small decline for USD Manufacturing PMI.

FX_Pro, I know your strategy is for the hourly timeframe, but thought it would be good to post some H4 setups also. If we get a similar success rate with this timeframe, then we may increase our frequency of trades per month.
Most people have the will to win, few have the will to prepare to win
  • #1,851
  • Nov 5, 2012 7:42am Nov 5, 2012 7:42am
Quoting FX-Pro
Man..... you use it on all the pairs & proving that this method work on almost all the pairs.... thank you so much....

Cheers,
FX-Pro
Thank you, Master Saravana, you're too kind,

The UJ entry hasnt been confirmed yet..it's entering range market "box" now..what a dog..hasnt even barked so far.

But look at SnP500 index..and 200 EMA rejection..different TF H4 bars..
Tonnes of setups..

Thanks for teaching me,

love, Ciara
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Ideas shape the course of history
  • #1,852
  • Nov 5, 2012 7:54am Nov 5, 2012 7:54am
Quoting burnzmeister
Thanks for explaining that fx light. Having added the High & Low 8 EMAs to my chart (which already contains the 12, 72 and 200 EMAs), are we not in danger of overcomplicating this otherwise straight forward strategy?
it is either you use the PAC (PRICE ACTION CHANNEL) or the 12 ema of the close. so you dont get confused. i believe the system principles works with the PAC and 12 ema independently.
i am the lord that giveth thee power to create wealth.
  • #1,853
  • Nov 5, 2012 9:18am Nov 5, 2012 9:18am
Guys thanks for nice encouragements to post again.Lets be positive!

Sarvana after seeing your and mine trade numbers I reduced my trades dramatically.So far I have 2 trades this month.Both positive+76pips
Looking at AU.Its in very precarious situation.Waiting for confirmation
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In trading, you have to be defensive and aggressive at the same time
  • #1,854
  • Nov 5, 2012 9:34am Nov 5, 2012 9:34am
I think everyone should use TL to understand Price Action better.Just another way to see how Price reacts.
Notice between upper and lower yellow TL lines I have dotted middle line (median line) and notice how Price usually almost consistently either gets rejected or continues up or down.No matter Price does something at mid points of HL TL.Its important to be aware!
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In trading, you have to be defensive and aggressive at the same time
  • #1,855
  • Nov 5, 2012 11:25am Nov 5, 2012 11:25am
If Romney wins Tues we could see greenbacks gaining on all dollar pairs.
If Obama wins we could see the opposite.
Business community and wall street is behind Romney.
In trading, you have to be defensive and aggressive at the same time
  • #1,856
  • Nov 5, 2012 12:00pm Nov 5, 2012 12:00pm
Quoting Davit
If Romney wins Tues we could see greenbacks gaining on all dollar pairs.
If Obama wins we could see the opposite.
Business community and wall street is behind Romney.

Please stay within System parameters otherwise things get confusing.
Regards
  • #1,857
  • Nov 5, 2012 12:08pm Nov 5, 2012 12:08pm
Quoting syracuse4x
Please stay within System parameters otherwise things get confusing.
Regards
one should always be aware what is happening.Its part of the System
-sentiment-
which is part of Price action,trend etc.Systems are good only if you understand factors that influence Price Action.
"
A trader must realize that the overall market is a combination of all the views, ideas and opinions of all the participants in the market. That's right... EVERYONE.
This combined feeling that market participants have is what we call market sentiment."


Read more: http://www.babypips.com/school/what-...#ixzz2BNfGmFIu


In trading, you have to be defensive and aggressive at the same time
  • #1,858
  • Nov 5, 2012 12:28pm Nov 5, 2012 12:28pm
Quoting Davit
Guys thanks for nice encouragements to post again.Lets be positive!

Sarvana after seeing your and mine trade numbers I reduced my trades dramatically.So far I have 2 trades this month.Both positive+76pips
Looking at AU.Its in very precarious situation.Waiting for confirmation
Welcome back my brother....

2 Trades with +76 Pips is an amazing result... just keep it on track... & set this month as an example.... i'm sure you will...

Keep up the good work...!

Cheers,
FX-Pro
  • #1,859
  • Nov 5, 2012 1:25pm Nov 5, 2012 1:25pm
Quoting FX-Pro
Welcome back my brother....

2 Trades with +76 Pips is an amazing result... just keep it on track... & set this month as an example.... i'm sure you will...

Keep up the good work...!

Cheers,
FX-Pro
yeah welcome back Davit. You are spot on with your market sentiment post. A tradesman can never have too many tools in his toolbox.
  • #1,860
  • Nov 5, 2012 1:27pm Nov 5, 2012 1:27pm
Quoting Davit
one should always be aware what is happening.Its part of the System
-sentiment-
which is part of Price action,trend etc.Systems are good only if you understand factors that influence Price Action.
"
A trader must realize that the overall market is a combination of all the views, ideas and opinions of all the participants in the market. That's right... EVERYONE.
This combined feeling that market participants have is what we call market sentiment."


Read more: http://www.babypips.com/school/what-...#ixzz2BNfGmFIu


...
Wow, you can look things up on the internet, good for you. I am very impressed. Not as impressive as starting 5 threads in 9 months and posting nearly 1,000 comments, but still pretty impressive. Anyone with half a brain can see that the EURUSD is going to drop like a rock, even more so since the end of last week. Knowing this, that means that the USD will be getting stronger, which means that Obama has no chance at winning the election tomorrow night and he may just as well concede now and save us all the trouble of voting.

REMEMBER: PRICE IS KING


"So many newbies clattering the thread without understanding even the basics just wastes my time"

I find this statement amusing as you have only been trading for 8 or 9 months and I would definitely consider you to be a newbie.

It was you that told me not to post anything that wasn't outlined in this thread when I posted my take on the EURUSD daily trendline. And then today you say "I think everyone should use trendlines". It would appear that you really don't have a clear thought as to how to trade the forex market.

To me, it's simple. FX PRO has created a system that has returned 80% positive trades for the last 2 years. THAT IS AMAZING!! Keep up the good work! With results like that, I don't know why ANYONE would deviate from what he is teaching. Obviously, the main reason that people are looking at his thread is because they are not anywhere near that consistent.

With that, I bid you adieu .

FX PRO - Keep up the good work.

And for anyone else that bothered to read this, follow FX Pro's lead. He OBVIOUSLY has found something that is working and you would be smart to not deviate too much from what he is teaching.
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