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Simple Money Making Method

  • #2,041
  • Nov 16, 2012 3:04am Nov 16, 2012 3:04am
Quoting FX-Pro
the previous bar closed reverse... not a valid one...
FX-PRO, been watching this thread and practicing for my 4 week trading career. Going well except I'm having serious trouble of when to get out the trades that i get in with using you indicators. Could you give me a tip, or does it purely come down to experience and knowledge of resistance areas and pervious significant closures.

Cheers
  • #2,042
  • Nov 16, 2012 3:38am Nov 16, 2012 3:38am
Just checking the AUSUSD 1hour chart, will there be a possible rebound trade short? Maybe if this 1 hour bar closes strongly below the 12MA or the PAC?

cheers
Ymmit
  • #2,043
  • Nov 16, 2012 9:12am Nov 16, 2012 9:12am
I missed this trade, did anyone got it?
Attached Image
  • #2,044
  • Nov 16, 2012 9:21am Nov 16, 2012 9:21am
Quoting mihwan
I missed this trade, did anyone got it?
Yeh... I'm in that trade... that was a clear trigger....

Friday... Not a good day to hold the trade.... Closed it for 32 Pips...

Happy Weekend....

Cheers,
FX-Pro
  • #2,045
  • Nov 16, 2012 9:29am Nov 16, 2012 9:29am
Quoting FX-Pro
Yeh... I'm in that trade... that was a clear trigger....

Friday... Not a good day to hold the trade.... Closed it for 32 Pips...

Happy Weekend....

Cheers,
FX-Pro
cool.... unfortunately I missed this one... looking for another opportunity next week.
thanks FX-Pro
  • #2,046
  • Nov 16, 2012 9:54am Nov 16, 2012 9:54am
Quoting FX-Pro
Yeh... I'm in that trade... that was a clear trigger....

Friday... Not a good day to hold the trade.... Closed it for 32 Pips...

Happy Weekend....

Cheers,
FX-Pro
Hi Fx-pro,

May I know which is the trigger point? is it the bounce back from round number 1.28 or the bounce from 8EMA high @1.2753?
  • #2,047
  • Nov 16, 2012 10:20am Nov 16, 2012 10:20am
Quoting fahadkw
placed short order on GBP/USD
Phew !! closed this order with +22 pips, the market is really ranging.
Happy Weekend All.
  • #2,048
  • Nov 16, 2012 1:07pm Nov 16, 2012 1:07pm
GBPJPY had a re-entry signal at 1300 GMT+2 too, missed that too lol.
  • #2,049
  • Nov 16, 2012 1:13pm Nov 16, 2012 1:13pm
Brainstorming for TP/SL ideas...

It seems that MACD12,26,9, when it touches MACD=0 on M15 chart gives a somewhat accurate exit point for SM3 on every pair.

I got the idea from http://www.forexfactory.com/showthread.php?t=391740 by Cubbygood. My 2 cents, SM3 has a higher percentage win for entry, but 3%GYB's exit strategy seems to more hassle free than speculating on how long the trend is going to run. (Also, cutloss when MACD=0 works too.)

Guys, backtest it and let me know what you think.

No disrespect. FX-Pro, Burnzmeister, Davit, you guys has been the most helpful. I'm still patiently testing this on Demo (Davit I know you said this breeds bad habit, better to start a micro account), very promising across pairs, will backtest/forward test until I prove for myself this is completely feasible.

To everyone else, cheers.
  • #2,050
  • Nov 16, 2012 1:14pm Nov 16, 2012 1:14pm
Quoting FX-Pro
the previous bar closed reverse... not a valid one...
Spot on, still ranging horrible as of 2100 GMT+2
  • #2,051
  • Nov 17, 2012 1:49pm Nov 17, 2012 1:49pm
Quoting burnzmeister
Hi everyone, just thought I'd post a setup before bed time...

I've been quite impatient with this method this week. No good setups for me, and patience is my own worst enemy, so I've made a few stupid trades because I found myself frustrated, but I'm determined to do better!

Anyway, the Euro on the daily chart shows a candlestick formation that is very likely to meet the 200 EMA. The formation is what I like to consider as a complex morning star pattern. So I have a very bullish POV on the daily...

On the Hourly we have a bullish trend break...
HI burnzmeister

Can u tell which is indi showing EMA on the upper left corner.

Thanks
  • #2,052
  • Nov 17, 2012 2:25pm Nov 17, 2012 2:25pm
Quoting Brixton
Hi FX-Pro!


I'm new to this so could you take a look at my chart!

I'm looking at this bearing engulfing bar with double top forming.
Hi Brixton

Could u please tell me how I can have this chart, if possible.

Thanks
  • #2,053
  • Nov 17, 2012 2:39pm Nov 17, 2012 2:39pm
Hi Folks,

I want to read more books, going to buy the following list:

http://g-ecx.images-amazon.com/image...386942464_.gif Trading Price Action Reversals: Technical Analysis of Price Charts Bar by Bar for the Serious Trader (Wiley Trading)
by Al Brooks


http://g-ecx.images-amazon.com/image...386942464_.gif Trading in the Zone: Master the Market with Confidence, Discipline and a Winning Attitude
by Mark Douglas


http://g-ecx.images-amazon.com/image...386942464_.gif Warren Buffett's 3 Favorite Books: A guide to The Intelligent Investor, Security Analysis, and The Wealth of Nations
by Preston George Pysh


http://g-ecx.images-amazon.com/image...386942464_.gif Forex Price Action Scalping: an in-depth look into the field of professional scalping
by Bob Volman


What do you think about this list ? Do you recommend anymore ?

Regards,
Fahad.
  • #2,054
  • Nov 19, 2012 2:07am Nov 19, 2012 2:07am
GU - Entry

Hi people!

See this entry on GU-H1. Fibo + Trend Line + Signal. Lets see!
Attached Image (click to enlarge)
Click to Enlarge Name: GU-h1.png Size: 45 KB
  • #2,055
  • Nov 19, 2012 3:02am Nov 19, 2012 3:02am
Hey,

Im new to this and havent read past post 500 of this thread yet... but
USD/CHF looks like a valid entry for me.
On paper orfcourse...

Thnx for an inspiring thread!
  • #2,056
  • Nov 19, 2012 3:31am Nov 19, 2012 3:31am
Quoting 4xProfessor
HI burnzmeister

Can u tell which is indi showing EMA on the upper left corner.

Thanks
Hey xProfessor,

The blue is a 200 EMA, purple is 72 EMA and red is 12 EMA
Most people have the will to win, few have the will to prepare to win
  • #2,057
  • Nov 19, 2012 3:40am Nov 19, 2012 3:40am
Quoting 4xProfessor
Hi Brixton

Could u please tell me how I can have this chart, if possible.

Thanks

HI, they are free at www.freestockcharts.com
  • #2,058
  • Nov 19, 2012 3:43am Nov 19, 2012 3:43am
Hey people!

Hope everyone had a good weekend?

Just an observation, but it seems every major pairing is hanging around a flat daily 200 EMA at the moment. Since we're looking for retracements from the main trend for our entry signals I don't think we're going to be getting many setups until we start seeing the daily charts trending again.

Last week was a bit sh*t for me because I got impatient and tried to see setups that weren't actually there. How did you guys do?

Cheers,

burnzmeister
Most people have the will to win, few have the will to prepare to win
  • #2,059
  • Nov 19, 2012 4:00am Nov 19, 2012 4:00am
Quoting burnzmeister
Hey people!

Hope everyone had a good weekend?

Just an observation, but it seems every major pairing is hanging around a flat daily 200 EMA at the moment. Since we're looking for retracements from the main trend for our entry signals I don't think we're going to be getting many setups until we start seeing the daily charts trending again.

Last week was a bit sh*t for me because I got impatient and tried to see setups that weren't actually there. How did you guys do?

Cheers,

burnzmeister
Hey burns, mate had a terrible week. I was too impatient, getting in early and late chasing trades thinking about the account too much and not the method, not letting the signals come to me. But i have learnt my lesson spent weekend researching about fibbonacci and certain resistant points so i now have a much clearer understanding in getting out of trades . So lets sit back burnzy and let the pips come to us
  • #2,060
  • Nov 19, 2012 4:18am Nov 19, 2012 4:18am
Quoting well0143
Hey burns, mate had a terrible week. I was too impatient, getting in early and late chasing trades thinking about the account too much and not the method, not letting the signals come to me. But i have learnt my lesson spent weekend researching about fibbonacci and certain resistant points so i now have a much clearer understanding in getting out of trades . So lets sit back burnzy and let the pips come to us
Ditto mate. My lessons have been learnt! Although there will no doubt be more to learn, the hard way

I really think that taking a look at the daily charts helps with this method. If you only trade in the direction of the daily momentum on your H1 chart it will filter out a lot of false signals IMHO. Also, taking the 12, 72 and 200 EMAs on the daily TF into account will give you a good idea of how far potential H1 moves will go.

I understand your fondness of fibs. Let me know how you get on with them.

All the best,

burnzmeister
Most people have the will to win, few have the will to prepare to win
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