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Simple System for anyone

  • #1
  • First Post: Edited Nov 21, 2012 11:23am Nov 20, 2012 7:03am | Edited Nov 21, 2012 11:23am
Not going into too much of how i trade, that's why I am posting here in rookie. But just sharing, simplicity is enough to make pips. Just dont be greedy.

- Any systems comes from basics, add any ingredients you want to make it delicious.
- Price movements hid in patterns within patterns.
- Different pairs move differently.
- Different time frames move differently. (Eg, different individuals prefer different vehicles and travel at different speeds)

When hit rate is high, R/R are useless. When high hit rates are achieve, you remove partial emotional attachments. And maybe, you start dealing with consistency, where this is more important to your long term results.

What tools do you need?
1. Drawing channels/trendlines

Additional Tools:
1. D/S regions (I played horizontal and diagonal regions)
2. S/R lines (Swing H/L, Calendar events, News, Daily H/L, Daily/Session O/C)
3. Fibo
4. Anything you like

Indicators:
1. Any of it you trust it to filter your trades

How to trade?
1. Just locate 2 points of High and 1 point of low to establish a channel or locate 2 points of Low and 1 point of High to draw the channel.
2. Just trade off the bounce off of channels, stop loss you can decide, profit taking up to you or near channel.
3. I only trade the 4th and 5th points on the channel.
4. I only take 10-15 pips profits no matter if it reach the other end of the channels.

Below is one example of a chart of how 3 channels being drew in 3 different timeframes (5 mins, 15 mins and 1hr). They all travel at different channels.

Ignore my indicators. You dont really need them. Good Luck!

Some recommended threads:
1. http://www.forexfactory.com/showthread.php?t=357104 by CrucialPoint
2. http://www.forexfactory.com/showthread.php?t=215432 by CrucialPoint
3. http://www.forexfactory.com/showthread.php?t=364383 by EmeraldEyes
4. http://www.forexfactory.com/showthread.php?t=216097 by Razorjack
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The only winner is the one who survive the longest...
  • #2
  • Nov 20, 2012 11:35am Nov 20, 2012 11:35am
You will need few years of hard work before you'll come up with stable profit with such "system"

Quoting kinspk
Not going into too much of how i trade, that's why I am posting here in rookie. But just sharing, simplicity is enough to make pips. Just dont be greedy.

- Any systems comes from basics, add any ingredients you want to make it delicious.
- Price movements hid in patterns within patterns.
- Different pairs move differently.
- Different time frames move differently. (Eg, different individuals prefer different vehicles and travel at different speeds)

When hit rate is high, R/R are useless. When high hit rates are achieve, you remove partial...
Aut cum scuto, aut in scuto
  • #3
  • Edited 12:08pm Nov 20, 2012 11:46am | Edited 12:08pm
Quoting kinspk
Not going into too much of how i trade, that's why I am posting here in rookie. But just sharing, simplicity is enough to make pips. Just dont be greedy.

- Any systems comes from basics, add any ingredients you want to make it delicious.
- Price movements hid in patterns within patterns.
- Different pairs move differently.
- Different time frames move differently. (Eg, different individuals prefer different vehicles and travel at different speeds)

When hit rate is high, R/R are useless. When high hit rates are achieve, you remove partial emotional...

Thanks for your system. Why putting all the indicators if we don't need them? For you to really succeed with the this system, you need to pass through the eye of the needle.
  • #4
  • Nov 20, 2012 12:30pm Nov 20, 2012 12:30pm
Quoting kinspk
Not going into too much of how i trade, that's why I am posting here in rookie. But just sharing, simplicity is enough to make pips. Just dont be greedy.

- Any systems comes from basics, add any ingredients you want to make it delicious.
- Price movements hid in patterns within patterns.
- Different pairs move differently.
- Different time frames move differently. (Eg, different individuals prefer different vehicles and travel at different speeds)

When hit rate is high, R/R are useless. When high hit rates are achieve, you remove partial emotional...
Wish you all the success.While you are at it throw in 200EMA floating S/R and Andrews pitchfork.You drew the TL but did not draw median line which to me is more important.
There is a Andrews pitchfork tool on mq4 you can use that.Trading is lot more complex so what you got is basic outline but not a system.To be a legit system one must of made profit consistatly and in consistent manner with clear rules before starting a thread unless what you seek is internet attention.
Good luck
In trading, you have to be defensive and aggressive at the same time
  • #5
  • Nov 20, 2012 1:32pm Nov 20, 2012 1:32pm
Try understand Elliott wave to work better for channel.
Apply Kagi or renko chart to give you an overall view of horizontal support and resistance.
Apply renko or point and figure chart to give you drawing chart pattern (Symmetrical, ascending triangle etc)
Use fibonacci to spot price reversal between 38.2-61.8%. Work best under EW.

Yes. Ignore any indicator. Just to trade price action chart.
Just sharing.
Thanks.
  • #6
  • Nov 20, 2012 1:39pm Nov 20, 2012 1:39pm
What function does the volume indicator serve in your strategy ?
  • #7
  • Nov 21, 2012 12:36am Nov 21, 2012 12:36am
Quoting profitmonit
You will need few years of hard work before you'll come up with stable profit with such "system"
You are quite right, but the strange thing is, the simple old method is where I made the most money some years back, where, fanciful systems blow things out. I am just trying to emphasize, simplicity and foundation.


Quoting A-Grace
Thanks for your system. Why putting all the indicators if we don't need them? For you to really succeed with the this system, you need to pass through the eye of the needle.
No doubt, need lot of screen time, hard work, no shortcut.

We buy a fish, you can choose to eat it raw, you can steam it, you can fry it, you can add any ingredients to suit your taste, similar to indicators.


Quoting Davit
Wish you all the success.While you are at it throw in 200EMA floating S/R and Andrews pitchfork.You drew the TL but did not draw median line which to me is more important.
There is a Andrews pitchfork tool on mq4 you can use that.Trading is lot more complex so what you got is basic outline but not a system.To be a legit system one must of made profit consistatly and in consistent manner with clear rules before starting a thread unless what you seek is internet attention.
Good luck
You are exactly right, none of them i disagree.
- used pitchfork, but not really into it, but will give it a try when i have a time
- yes trading is much more complex, when i start to feel, i cant stop learning
- you are the only one at this time mentioned this is not a system, exactly, this is just not a system.
- consistency round up most needs in trading
- yea, partially seeking attention, because i dont get it why pple think its so hard to make money off trading forex, you dont need to be genius to do that, its just greed that make that difficult causing all those inconsistency. I had friend spend thousands of dollars of forex courses when they are already in debts and have family committments, i just cant believe pple believe those motivational talker and wasting their hard earn money off like that.


Quoting ~bull.bear~
Try understand Elliott wave to work better for channel.
Apply Kagi or renko chart to give you an overall view of horizontal support and resistance.
Apply renko or point and figure chart to give you drawing chart pattern (Symmetrical, ascending triangle etc)
Use fibonacci to spot price reversal between 38.2-61.8%. Work best under EW.

Yes. Ignore any indicator. Just to trade price action chart.
Just sharing.
Thanks.
Yea, had studied elliott, but i apply my own patterns on it. I do draw all sort of patterns on charts, i even draw angle lines, to anticipate the velocity of the trend or retracement.

As for price action, I also apply my own price actions reading. Eg, pple see a series of reversal candles, but I will sometime treat this reversal candles as a continuation of trend and trade it against what I read on the internet. But all these price action candles react different on different timeframes and different patterns.


If 1 is satisfy in taking just 5 or 10 pips a day, I dont see how hard its trading, unless you wanna trade like a pro. Take what we are worth and dont try to take more than you are capable of taking.
The only winner is the one who survive the longest...
  • #8
  • Nov 21, 2012 12:39am Nov 21, 2012 12:39am
Quoting vsa4life
What function does the volume indicator serve in your strategy ?
I try to use it to filter fake spike, fake bull or fake bear candle. I have only use it less than a year, so not advisable to provide any information. Screening it in process.
The only winner is the one who survive the longest...
  • #9
  • Nov 21, 2012 12:44am Nov 21, 2012 12:44am
I will post some random interesting charts, may be i wont elaborate much.

How proportional the trend is.
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The only winner is the one who survive the longest...
  • #10
  • Nov 21, 2012 12:58am Nov 21, 2012 12:58am
This is a simple change of vehicle.
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The only winner is the one who survive the longest...
  • #11
  • Nov 21, 2012 1:03am Nov 21, 2012 1:03am
The first show a simple resistance line for trade, while the 2nd chart show how the gap lines can be play. Only the yellow highlighted areas are high probability trades where entry can obtain a reasonable R/R
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The only winner is the one who survive the longest...
  • #12
  • Nov 21, 2012 1:08am Nov 21, 2012 1:08am
Demand and supply region I had learned from guys here in FF from their post. All sort of methods work, as long they define the basic patterns.

The next chart show only 2 opportunities, but its better than nothing, just a channel line providing 2 trades.
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The only winner is the one who survive the longest...
  • #13
  • Nov 21, 2012 4:01am Nov 21, 2012 4:01am
This simple illustrations actually apply to our daily life in everything we do, so does it apply to trading.

Finding a system catching you 100 pips, 200 pips? and then end up losing, finding systems again and again wasting precious time?
Why dont you start making money at the same time while searching for a better systems or improving your own systems?

Be it a timeframe of M1, M5, M15, H1, H4, D1, and you just take 5, 10 or 15 pips daily regardless opportunities lay on market. Why dont you just take easy 5 pips daily, or few times each day, while building a list of green profit taking trades recording in your account, building your confidence and consistency? And you will realise, you can create a good positive account as well.
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The only winner is the one who survive the longest...
  • #14
  • Nov 21, 2012 4:18am Nov 21, 2012 4:18am
What does these 2 gonna do with trading? None! Trading make me bored, while it make some stress.
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The only winner is the one who survive the longest...
  • #15
  • Nov 21, 2012 4:27am Nov 21, 2012 4:27am
We learned drawing when we are young, squares, circles, triangles, etc, its enough to get you 3, 5, 10 pips.

Below you enter base on a simple breakout system, while you can change it to longer timeframe if the trend will continue if you want greater take profits.
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The only winner is the one who survive the longest...
  • #16
  • Nov 21, 2012 4:29am Nov 21, 2012 4:29am
All system works, just build your confidence, it wont be hard, losing is part of trading and in life. No one wins all the time.
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The only winner is the one who survive the longest...
  • #17
  • Nov 21, 2012 4:34am Nov 21, 2012 4:34am
A losing trade - a nice entry for small usual TP, but my greed knock on my door, it reverse for a loss.
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The only winner is the one who survive the longest...
  • #18
  • Nov 21, 2012 4:44am Nov 21, 2012 4:44am
Random entry, Long for 10 pips mental stop.
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The only winner is the one who survive the longest...
  • #19
  • Nov 21, 2012 4:51am Nov 21, 2012 4:51am
I think this thread is a good read, by one of a FF member CrucialPoint. Although I can trade consistently, but I am always interested in scalping more successfully due to the freedom of trading any time I like when I can scalp. His thread open my mind much more, and my scalping winning percentage and hit rate went up near to 90-95% compare to previous 60-80% hit rate. I buy more beers nowadays, maybe I should thank him.

http://www.forexfactory.com/showthread.php?t=357104


There are some FF threads that inspire and improve me thru out, when I came across again, I will recommend them here.
The only winner is the one who survive the longest...
  • #20
  • Nov 23, 2012 12:58am Nov 23, 2012 12:58am
This channel had been valid for quite some time, and how prices are representing themselves the past 30 hours, there should be a sharp move establishing a direction either today or next week soon, so its better to avoid trading atm.
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The only winner is the one who survive the longest...
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