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Simple Money Making Method

  • #1,901
  • Nov 7, 2012 6:35am Nov 7, 2012 6:35am
Quoting bogdan1
A countertrend trade.
Looking for small pips.
I moved the SL to breakeven + something.
Cool mate, good luck. Not to be pernickety, but does this have anything to do with FX_Pro's strategy?
Most people have the will to win, few have the will to prepare to win
  • #1,902
  • Nov 7, 2012 6:39am Nov 7, 2012 6:39am
Quoting xiaotiao
Sorry..May I know what does "BE" means?
Break Even
  • #1,903
  • Nov 7, 2012 6:40am Nov 7, 2012 6:40am
Quoting burnzmeister
Cool mate, good luck. Not to be pernickety, but does this have anything to do with FX_Pro's strategy?
I don't think it does. I guess it feels good to post a winner...
Stick to the rules! Make yourself a trading journal... As for myself, I have many things to improve and I am seeing more and more winrate as I go on with FxPro philosophy.
  • #1,904
  • Nov 7, 2012 6:41am Nov 7, 2012 6:41am
Quoting al2cand
Amongst other trades, this one had acceptable entries and it turned a 2% winner with 1:1 reward to risk ratio (my initial stoploss was close at first swing low)

As I mentionnend earlier one of my weakness is lack of patience, hence the not optimal entries. So my objective is to stick to the 'trade only when 1H closes'.
Nice one dude. There were a couple of good entries on the Kiwi from your chart. If only we could be awake and at our computers for all of them!
Most people have the will to win, few have the will to prepare to win
  • #1,905
  • Nov 7, 2012 6:44am Nov 7, 2012 6:44am
Quoting al2cand
Amongst other trades, this one had acceptable entries and it turned a 2% winner with 1:1 reward to risk ratio (my initial stoploss was close at first swing low)

As I mentionnend earlier one of my weakness is lack of patience, hence the not optimal entries. So my objective is to stick to the 'trade only when 1H closes'.
Good job brother....

Just keep doing the same....

Patience is the virtue.... practice it... the most difficult part of this business...
  • #1,906
  • Edited 10:38pm Nov 7, 2012 6:52am | Edited 10:38pm
Guys...

Remember that we cant catch all the moves on the chart.... No system/method can do that....

do not worry that you are not in those big moves & don't create a trigger just because you want to be in that trade.....

This is business... has to be a proper plan in everything you do.... stay with patience, your turn will come.... if you don't get it today thats ok.... you will get it tomorrow or the day after.... the objective here is to make money, not to be in the trade always....

Cheers,
FX-Pro
  • #1,907
  • Nov 7, 2012 7:49am Nov 7, 2012 7:49am
Quoting burnzmeister
Cool mate, good luck. Not to be pernickety, but does this have anything to do with FX_Pro's strategy?
Yes it is according to the system. Fx-pro strategy allows us to take some pips in counter trend trades if price closes up/below channel.

Thanks
Make money Not pips
  • #1,908
  • Nov 7, 2012 7:58am Nov 7, 2012 7:58am
Quoting burnzmeister
Anyone go long on the Swissy at 12 GMT?

Please correct me if this isn't in line with the strategy...

Cheers
I trailed my SL to get out for +28 pips. I was aiming to make 90+, but perhaps that was greedy. Have to take what the market gives you...
Attached Image (click to enlarge)
Click to Enlarge Name: Swissy2.JPG Size: 80 KB
Most people have the will to win, few have the will to prepare to win
  • #1,909
  • Nov 7, 2012 8:05am Nov 7, 2012 8:05am
Quoting balle1973
Yes it is according to the system. Fx-pro strategy allows us to take some pips in counter trend trades if price closes up/below channel.

Thanks
Haha! Fair enough dude. Just couldn't see it on the 1st post of this forum.
Most people have the will to win, few have the will to prepare to win
  • #1,910
  • Nov 7, 2012 9:39am Nov 7, 2012 9:39am
Quoting FX-Pro
Guys...

Remember that we cant catch all the moves on the chart.... No system/method can do that....

do not worry that you are not in that big moves & don't create a trigger just because you want to be in that trade.....

This is business... has to be a proper plan in everything you do.... stay with patience, your turn will come.... if you don't get it today thats ok.... you will get it tomorrow or the day after.... the objective here is to make money, not to be in the trade always....

Cheers,
FX-Pro
We are trend traders... & we don't have much to trade, though we have good movements today.......

Stay disciplined
FX-Pro
  • #1,911
  • Edited 11:14am Nov 7, 2012 10:30am | Edited 11:14am
This is more like studying time rather than trading time.
Edit: I take that back!

Took this trade in GBPUSD 1H.
Attached Image
  • #1,912
  • Nov 7, 2012 3:04pm Nov 7, 2012 3:04pm
Hello

I am new to the forum and is going to try the strategy from Fx-Pro.
So, please mind the questions if they come thick and fast.

My aim is also to code this strategy into an EA in Metatrader 5. Still thinking about how this needs to be done but I shall get there.

@Trucomallica, I see a bounce of the 50 EMA with a high test bar.
My question is: Should I be patient and wait for another test before it tries to create a lower low?
  • #1,913
  • Nov 7, 2012 6:37pm Nov 7, 2012 6:37pm
Quoting koosvdh
Hello

I am new to the forum and is going to try the strategy from Fx-Pro.
So, please mind the questions if they come thick and fast.

My aim is also to code this strategy into an EA in Metatrader 5. Still thinking about how this needs to be done but I shall get there.

@Trucomallica, I see a bounce of the 50 EMA with a high test bar.
My question is: Should I be patient and wait for another test before it tries to create a lower low?
Just try to stick to the system. Just wait for the next signal!
  • #1,914
  • Nov 8, 2012 12:08am Nov 8, 2012 12:08am
Quoting Trucomallica
This is more like studying time rather than trading time.
Edit: I take that back!

Took this trade in GBPUSD 1H.
Well, 13 hours later, price has been ranging but hasn't closed above the 12 EMA, but I'll go to sleep soon, so I closed half the size, and brought down the SL. Now my risk is less than 1%.
  • #1,915
  • Nov 8, 2012 3:53am Nov 8, 2012 3:53am
Would you have closed the trade seeing the price closed above the 12 EMA and would there have been another opportunity to get back into the trend?
Attached Image (click to enlarge)
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  • #1,916
  • Nov 8, 2012 5:16am Nov 8, 2012 5:16am
To get a better idea of currency pairing correlations in terms of strengths and weaknesses. This looks like a good tool:

http://fxtrade.oanda.co.uk/analysis/...cy-correlation

Interestingly for the H1 TF, the Aussie doesn't correlate with the Kiwi as much as the Euro, Swissy or Loonie. For instance, at 2100 GMT last night the Kiwi dropped 75 pips in an hour, whereas the Aussie didn't batter an eyelid.

However, this has an awful lot to do with the news (Employment/Unemployment figures for the NZD and AUD were released at 2145 GMT and 0030 GMT, respectivley). The Aussie had already lost about 70 pips prior to 2100GMT and the price had met back up with the 12 and 72 EMAs, so momentum was dying for this pair.

On the other hand, the Kiwi had been chopping around in a 60 pip range for 4 days, so when the NZD figures turned out to be 'worse than expected', a bearish breakout was quite likely.

Now, with the 'better than expected' AUD figures at 0030 GMT this morning, and having a couple of bullish entry setups (Single bar 72 EMA bounce, 12 EMA intersection) complete for the H1 Aussie thereafter, I would have thought this would be tanking by now?

Anyway, that's just my observations for this morning. Please, if anyone has anything further to add or corrections to make to this, be my guest.

Thanks
Most people have the will to win, few have the will to prepare to win
  • #1,917
  • Nov 8, 2012 5:19am Nov 8, 2012 5:19am
Quoting burnzmeister

Now, with the 'better than expected' AUD figures at 0030 GMT this morning, and having a couple of bullish entry setups (Single bar 72 EMA bounce, 12 EMA intersection) complete for the H1 Aussie thereafter, I would have thought this would be tanking by now?
Guess the market is waiting for the USD Trade Balance and Unemployment Claims in a couple of hours time...
Most people have the will to win, few have the will to prepare to win
  • #1,918
  • Nov 8, 2012 5:44am Nov 8, 2012 5:44am
Quoting burnzmeister
Guess the market is waiting for the USD Trade Balance and Unemployment Claims in a couple of hours time...
Right... Lots of Red news around... Hence side-way move....
  • #1,919
  • Nov 8, 2012 7:56am Nov 8, 2012 7:56am
Quoting FX-Pro
Break Even
oh,my god.
I always think the BE is Begin entry.
  • #1,920
  • Nov 8, 2012 9:04am Nov 8, 2012 9:04am
Just in... Is this entry correct ?

Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: audnov8.gif Size: 20 KB
Make money Not pips
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