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Simple Money Making Method

  • #2,081
  • Nov 20, 2012 1:40am Nov 20, 2012 1:40am
Quoting trader-ichi
Hi all,
Long GU
GL!
I wont go long in this trade since there is resistance around 1.5920 that did not break the 200 EMA, Also the price did not bouce properly from 72 EMA
Regards,
  • #2,082
  • Nov 20, 2012 2:00am Nov 20, 2012 2:00am
Quoting trader-ichi
Hi all,
Long GU
GL!
going long on ranging Asian session is no real confirmation of direction.Wait for London open for confirmation.
In trading, you have to be defensive and aggressive at the same time
  • #2,083
  • Nov 20, 2012 2:04am Nov 20, 2012 2:04am
Quoting burnzmeister
Hey classy,

I'm not sure I know what you mean? The EMA info in the top left of my posted charts? Well that just shows the current price for each of the EMAs I'm using. My broker, FXCM, displays this info as a default setting, but its quite useless for me. It's really not important for this method I don't think.

Sorry if I've misunderstood your question bro?
I like your avatar.Lucian Freud is one of my favorite artists.I am also an artist
sahakianart.com
In trading, you have to be defensive and aggressive at the same time
  • #2,084
  • Nov 20, 2012 2:15am Nov 20, 2012 2:15am
wow the currencies are dead
  • #2,085
  • Nov 20, 2012 3:04am Nov 20, 2012 3:04am
Quoting trader-ichi
Hi all,
Long GU
GL!
I hope you closed your buys on that spike 5920 ....
Few things to consider before placing a trade in this system or any other system.

1.News and how it effects
2.Sentiment (the herd mode)
3.Direction
4.Trend Lines
3.Supply and demand
4.Candle formation patterns (optional but helps)
5.Liquidity and order flow (simply trade London and NY and you will be fine)
6.FX-Pro method in context of all above.

They are more but suffice to say these cover lot of ground.Notice I have FX-Pro method at the bottom.Things makes sense in the system when you understand the foundation which it is applied.
It is top down approach instead of bottom up.Before you draw a life model I usually teach students how to draw shapes...once that understood everything can be reduced to shapes.
It might seem obvious but having liquidity in the market is important and don't force orders where nothing moves.Try to think of trading as a business rather entertainment.Most losers approach trading as entertainment "need for action" and they end up developing horrendous almost alcohol addiction symptoms like need to place orders constantly.
As Alexander Elder said good trading is boring.You must wait for right conditions and set ups.If you can control your impulses you have a shot otherwise you could become another trading stat.

regards
In trading, you have to be defensive and aggressive at the same time
  • #2,086
  • Nov 20, 2012 3:15am Nov 20, 2012 3:15am
Thank Davit,
I closed my entry at 1.5918. I get more experience that entry
Sorry for my bad English.
GL!
Quoting Davit
I hope you closed your buys on that spike 5920 ....
Few things to consider before placing a trade in this system or any other system.

1.News and how it effects
2.Sentiment (the herd mode)
3.Direction
4.Trend Lines
3.Supply and demand
4.Candle formation patterns (optional but helps)
5.Liquidity and order flow (simply trade London and NY and you will be fine)
6.FX-Pro method in context of all above.

They are more but suffice to say these cover lot of ground.Notice I have FX-Pro method at the bottom.Things makes sense in the system...
  • #2,087
  • Nov 20, 2012 3:19am Nov 20, 2012 3:19am
Well summarised Davit: love the art work; fantastic!!


Cheers
Ymmit
  • #2,088
  • Nov 20, 2012 3:38am Nov 20, 2012 3:38am
Quoting ymmit
Well summarised Davit: love the art work; fantastic!!


Cheers
Ymmit
Thanks bro.
Its a ranging market now.Great for scalping but this system is about minimum trades with max profit.
Very messy now
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In trading, you have to be defensive and aggressive at the same time
  • #2,089
  • Nov 20, 2012 3:49am Nov 20, 2012 3:49am
Anyone looking at CHF/JPY ?
  • #2,090
  • Nov 20, 2012 4:26am Nov 20, 2012 4:26am
Quoting Brixton
Anyone looking at CHF/JPY ?
its looking good
  • #2,091
  • Nov 20, 2012 5:32am Nov 20, 2012 5:32am
Quoting Davit
I like your avatar.Lucian Freud is one of my favorite artists.I am also an artist
sahakianart.com
There's no-one else like him is there. I also find his grandfather's work fascinating. There's a lot that traders can learn from Sigmund Freud's psychoanalysis. For instance, he pioneered the thought that human behaviour is largely based on irrational thinking. We see that every day, displayed on charts. The more we understand the mass market psychology at any given time, the less reliance we'll have for indicators, trend lines, cnadlesticks etc.

I wrote an article about this kind of thing, but it didn't do very well in the contest

http://www.dukascopy.com/fxcomm/fx-a...n=read&id=1032

All the best,

burnzmeister

P.S. I like your art Davit. Those paintings look expensive, lol
Most people have the will to win, few have the will to prepare to win
  • #2,092
  • Nov 20, 2012 5:53am Nov 20, 2012 5:53am
Managed to get long at 86.30
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  • #2,093
  • Nov 20, 2012 6:14am Nov 20, 2012 6:14am
Quoting burnzmeister
There's no-one else like him is there. I also find his grandfather's work fascinating. There's a lot that traders can learn from Sigmund Freud's psychoanalysis. For instance, he pioneered the thought that human behaviour is largely based on irrational thinking. We see that every day, displayed on charts. The more we understand the mass market psychology at any given time, the less reliance we'll have for indicators, trend lines, cnadlesticks etc.

I wrote an article about this kind of thing, but it didn't do very well in the contest

http://www.dukascopy.com/fxcomm/fx-a...n=read&id=1032

All...
Nice article burnz...
  • #2,094
  • Nov 20, 2012 7:56am Nov 20, 2012 7:56am
CHF/JPY moving nicely now. Daily chart showing a breakout
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  • #2,095
  • Nov 20, 2012 9:10am Nov 20, 2012 9:10am
Quoting FX-Pro
Nice article burnz...
Thanks Pro
Most people have the will to win, few have the will to prepare to win
  • #2,096
  • Nov 21, 2012 12:53am Nov 21, 2012 12:53am
Hi All,

placed short order on AUD/USD

Regards,
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  • #2,097
  • Nov 21, 2012 2:51am Nov 21, 2012 2:51am
Poised to go short on the Loonie...

Amber support is strong for H1 AND H4 and Red support is the current Daily 200 EMA.

No news affecting this pair till 1330 GMT, so we're good on that front.

Anyone else looking at this?
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Most people have the will to win, few have the will to prepare to win
  • #2,098
  • Nov 21, 2012 3:26am Nov 21, 2012 3:26am
Quoting burnzmeister
Poised to go short on the Loonie...

Amber support is strong for H1 AND H4 and Red support is the current Daily 200 EMA.

No news affecting this pair till 1330 GMT, so we're good on that front.

Anyone else looking at this?
hey yes nice spotting i almost missed that if it wasn't for you thank you now to make the pips back i lost on the aussie and us and nz us, sorry fx pro i know we rant meant to look at it like that lol. also got into go long on the us jp and the chfjpy and gbpjpy. still studying for exam will start putting up graphs next week onwards
  • #2,099
  • Nov 21, 2012 3:30am Nov 21, 2012 3:30am
hi fx bro thanks for nice and simple system.i like simplicity....simple is da beauty.i am new in fx arena .my main motto to catch good things form good people like you...FF is cool place with buch of awesome ...rocking ..peoples.bro i have question...may be al ready answerd eariler......if on single candle 1 reject by 72 than samae reject 12 ema than what will be da right candle to enter short /long ....some we see 12 ema is up and price below 72 ema ..like bounce or reject for RN/stornog sup res then 72 ema and 12 is sgnificant or not...bro loking forward to hear from you....soon.
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Say something meaningful or Silence!!
  • #2,100
  • Nov 21, 2012 3:48am Nov 21, 2012 3:48am
  •  9er
  • | Joined Oct 2012 | Status: Please tell me it's impossible | 732 Posts
Quoting Davit
9er
Not to sound negative but people posting crap like you just did is why lot of great traders don't post forums like this.
Nobody's analyses is 90% success! Best traders have made millions just being accurate 20% that means 80% of times their analyses was flawed.
Nobody knows the future so by default it is statistically impossible to be 90% successful.
If you mean out of 100trades you got 90% winners I like to see a statement posted to back that up.
Donchian whom I respect tremendously father of trend following knew that
4 of...
~

Gotta tell ya - this post fired me up and I am about to prove you wrong!
This message is for DAVIT. I will make this as brief as I can so you may concentrate on the signals provided by this ever changing method.
First of all, you should never pretend to be a subject matter expert, or speak to things or people that you have no clue what you are dealing with.
The reason I stopped coming to this forum was because of people like you.

People that pretend to be the expert in the forum, but the reality is their own trading account is screwed beyond belief. I call this “Casting stones from the porch of your glass house”

You blasted a very humble member of the 5% club my man. Never make an assumption that something can’t be done, and never blast someone that you don’t know. The really sad part was before you blasted me, I was willing to offer my help, not only with this method, but to offer my own analysis.

I opened a demo account and diligently traded it to mirror my exact trades from my live account. Oh yeah word of advice, never ask someone to post their live account results, that is morally unsound. Again, standing on that glass porch.

What you will see from the attached documents is a demo account I opened on the 23rd of Oct 2012. Every trade I took in my live account I took in this demo account as well (except for 2 trades, I’ll explain below). The broker I use is IBFX. I will provide screenshots of the results, to appease anyone that might think I may have doctored these results (other than removing my last name).

Every trade is verifiable, every trade was taken manually. The really sad part is 2 of the losers I incurred in this demo account were the result of closing a trade too early; both trades ended up hitting what I had marked as my TP. But these same two losing trades in this account were winners in my live account.


The results? 48 trades, 44 winners: net profit $4,850.27 (91.67% win rate), my live account over the same period: 48 trades 46 winners (95.8% win rate) net profit: none of your business . Never say never, and NEVER say impossible and never discredit someone you don't know.


Notice also if you will, I went on a streak of 18 consecutive winners (currently I am at 12 consecutive in my live account), my record for consecutive is 27 trades.
Incidentally my trading method works best in trending markets, and equally as well in range bound markets. Been trading this method with success for a few years now. My results have consistantly been 87%-95% month in and month out

5% club my man. Enjoy your method, good luck and never stop chasing pips!
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