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The perfect trading system

  • #861
  • Nov 16, 2012 9:40pm Nov 16, 2012 9:40pm
Quoting Articulate
I have just completed two interesting analyses on 100 pips price action and 200 pips price action within Masterchart which I believe might be useful for both positioned traders and short-term traders. I will be sharing detailed information on these analysis within the next few weeks.
HI,Articulate, i glad to hear that, i will wait your posting.GBU
  • #862
  • Edited Nov 19, 2012 12:07am Nov 18, 2012 8:25pm | Edited Nov 19, 2012 12:07am
Rafiki,i am not trading gbpjpy, i make analysis, i try to share my views about gbpjpy, draw every 100pips will help you, look daily chart and weekly for reverse , buy or sell after pull back 300pips-400pips, SL 200pips.give horizontal line rsi weekly and daily 40 and 60. May Jesus Lord Bless You
  • #863
  • Nov 19, 2012 1:44am Nov 19, 2012 1:44am
Mr.chia
Member
Member Since Oct 2011
177 Posts

Rafiki,i am not trading gbpjpy, i make analysis, i try to share my views about gbpjpy, draw every 100pips will help you, look daily chart and weekly for reverse , buy or sell after pull back 300pips-400pips, SL 200pips.give horizontal line rsi weekly and daily 40 and 60. May Jesus Lord Bless You


Hello Mr Chia,

Thank you for your help, you are blessed. I will try what you recommend.
  • #864
  • Nov 20, 2012 8:56am Nov 20, 2012 8:56am
Mr Chia,

Are you in any trades presently?
  • #865
  • Nov 20, 2012 9:39am Nov 20, 2012 9:39am
Articulate if the opportunity arose to sell the GBP/USD would you still take it as the 1.5800 level has not been broken yet.
  • #866
  • Nov 20, 2012 10:25am Nov 20, 2012 10:25am
Mr Chia
With the rules that you gave me on 12th November at this moment in time I could be in a sell trade on the gbp/usd.

The 1 hr and 4 hr charts even have divergence in their favour.

The only thing stopping me at this time is that the levels are on the borderline and the weekly candle seems to be going in the opposite direction. Articulate has said somewhere to only take first class trades so its a no for me.

What would you have done?
  • #867
  • Nov 20, 2012 7:39pm Nov 20, 2012 7:39pm
Quoting don555
Mr Chia
With the rules that you gave me on 12th November at this moment in time I could be in a sell trade on the gbp/usd.

The 1 hr and 4 hr charts even have divergence in their favour.

The only thing stopping me at this time is that the levels are on the borderline and the weekly candle seems to be going in the opposite direction. Articulate has said somewhere to only take first class trades so its a no for me.

What would you have done?
RAFIKI,i still waiting...gbpusd in zona 1.6000-16100
don555, remember/watch candle h4, candle h4 still can't broke 3-6candle before. so wait.....and don't remeMber give horizontal line every 50pips.GOD BLESS YOU ALL
  • #868
  • Edited 7:29am Nov 21, 2012 3:15am | Edited 7:29am
I take only 1st class opportunities and will only sell if 1.6300 is re-tested again or a weekly pin very close to 1.6300. I have a lot of options to choose from and I take only the best ones.



Quoting don555
Articulate if the opportunity arose to sell the GBP/USD would you still take it as the 1.5800 level has not been broken yet.
  • #869
  • Nov 21, 2012 9:33am Nov 21, 2012 9:33am
Quoting Articulate
Don555,

My view is that you do not take a trading decision simply based on RSI. There are other factors you need to consider first. In fact RSI is the least in order of importance. Let me use this opportunity to explain my view on trading decision making and the role of RSI in this process for the benefit of others.

[color=black][font=Verdana]Firstly you need to understand that FX trading is "Reverse Engineering". Secondly, you need the skill of deconstruction...

Articulate on the 8th November you explanation and the 2 charts that you supplied showed me how you would have taken 5 sell trades marked by S on the hourly chart.
The reason that I can see for taking them is that the weekly chart was saying that the second candle dated 23/9 to 30/9 had confirmed that we were in a selling mode.
So with this in mind the 2nd trigger for taking those selling trades on the 1hour chart was because they were overbought above 70 in the RSI.

Are those 2 reasons all that is needed ?
  • #870
  • Nov 21, 2012 9:50am Nov 21, 2012 9:50am
Quoting Mr.chia
RAFIKI,i still waiting...gbpusd in zona 1.6000-16100
don555, remember/watch candle h4, candle h4 still can't broke 3-6candle before. so wait.....and don't remeMber give horizontal line every 50pips.GOD BLESS YOU ALL


Mr Chia I am sorry but I do not understand what you are trying to say.

Can anyone else help ?
  • #871
  • Nov 21, 2012 11:58am Nov 21, 2012 11:58am
Read the post again. There are more reasons and RSI is the last of the consideration. The most important questions are:

How close are the signals to Masterchart levels?
How close are the signals to 1000 PPAA?
How close are the signals to line in the sand?
How close are the signals to a weekly pin around Masterchart, 1000 PPPA and line in the sand?



Quoting don555
Articulate on the 8th November you explanation and the 2 charts that you supplied showed me how you would have taken 5 sell trades marked by S on the hourly chart.
The reason that I can see for taking them is that the weekly chart was saying that the second candle dated 23/9 to 30/9 had confirmed that we were in a selling mode.
So with this in mind the 2nd trigger for taking those selling trades on the 1hour chart was because they were overbought above 70 in the RSI.

Are those 2 reasons all that is needed ?
  • #872
  • Edited 3:23am Nov 22, 2012 1:23am | Edited 3:23am
Quoting don555
Mr Chia I am sorry but I do not understand what you are trying to say.

Can anyone else help ?
don55 ,i have problem with my snagit program and my laptop, so i can't posting my chart,send to me program , so i can explain with pictures/chart???GOD BLESS YOU
  • #873
  • Nov 22, 2012 7:05am Nov 22, 2012 7:05am
Quoting Articulate
THE MINDSET OF A SUCCESSFUL TRADER!

For those who have been following this thread for quite a while, you should have by now be in a position to trade with confidence. That notwithstanding, I will today discuss the following specific stepson how to think, act and develop the mindset of a successful forex trader:

Step 1: Trade the Masterchart.[color=black][font=Tahoma] It should be your No. 1 guide....

Articulate why did the RSI position of the colours change at this time ?
It used to be yellow on the top and red on the bottom.
Now we have red on top and yellow on the bottom.

It is very confusing when going through all the posts.
  • #874
  • Nov 22, 2012 9:38am Nov 22, 2012 9:38am
Quoting Articulate
Read the post again. There are more reasons and RSI is the last of the consideration. The most important questions are:

How close are the signals to Masterchart levels?
How close are the signals to 1000 PPAA?
How close are the signals to line in the sand?
How close are the signals to a weekly pin around Masterchart, 1000 PPPA and line in the sand?

Articulate the signals are very close to the Masterchart levels approximately 70-176 pips maximum.
The first signal signal has come just after the 1000PPAA which is about 70 pips on the daily.
Is the line in the sand in this instance the same as the Masterchart level.
The signals are all very close to all of those levels and well away from the 50% retrace level.

Is it because of all the above being in place the RSI is confirmation.
  • #875
  • Nov 22, 2012 10:52am Nov 22, 2012 10:52am
Quoting don555
Articulate the signals are very close to the Masterchart levels approximately 70-176 pips maximum.
The first signal signal has come just after the 1000PPAA which is about 70 pips on the daily.
Is the line in the sand in this instance the same as the Masterchart level.
The signals are all very close to all of those levels and well away from the 50% retrace level.

Is it because of all the above being in place the RSI is confirmation.
People are still trading with RSI?
I know this is the Rookie subforum but... one should know that mainstream indicators are terrible at predicting price.. I can say that because the very first week I started Forex, I coded dozens of robots testing RSI,MACD,stoch, etc and nothing was really giving me an edge.
Support/resistance, trends, and especially PRICE ACTION are where you should focus...
If you aim for the stars- but miss, you still get the moon...
  • #876
  • Nov 22, 2012 4:38pm Nov 22, 2012 4:38pm
Quoting aiming4stars
People are still trading with RSI?
I know this is the Rookie subforum but... one should know that mainstream indicators are terrible at predicting price.. I can say that because the very first week I started Forex, I coded dozens of robots testing RSI,MACD,stoch, etc and nothing was really giving me an edge.
Support/resistance, trends, and especially PRICE ACTION are where you should focus...

I am focusing on what Articulate is teaching.
Articulate has already said RSI is the last for consideration.
  • #877
  • Nov 22, 2012 8:07pm Nov 22, 2012 8:07pm
DON555 ,GBPUSD , candle h4 still can't break 1.5920, body candle ,wait.... rsi h4 said ok, always sell when h1 in zona 60-70 or 70-82.JESUS BLESS YOU.
  • #878
  • Edited 7:02am Nov 23, 2012 1:20am | Edited 7:02am
The arrangement of the colour is not a critical factor, what is important is just pick two different colours - blue/white, red/yellow, pink/green etc. For consistency and to avoid confussion, I will try as much as possible to stick to a uniform pattern?

Quoting don555
Articulate why did the RSI position of the colours change at this time ?
It used to be yellow on the top and red on the bottom.
Now we have red on top and yellow on the bottom.

It is very confusing when going through all the posts.
  • #879
  • Edited 7:02am Nov 23, 2012 1:38am | Edited 7:02am
it appears you are still confused about my view on RSI. To clear this confussion I want you to read my posts on:

a) Masterchart levels
b) 1000 PPAA
c) Lines in the sand
d) Weekly pins around the levels in a-c) above

After doing the above, post what your understanding of my views on these terms are. I will analyse your post and tell you if where your understanding is right or not.




Quoting don555
Articulate the signals are very close to the Masterchart levels approximately 70-176 pips maximum.
The first signal signal has come just after the 1000PPAA which is about 70 pips on the daily.
Is the line in the sand in this instance the same as the Masterchart level.
The signals are all very close to all of those levels and well away from the 50% retrace level.

Is it because of all the above being in place the RSI is confirmation.
  • #880
  • Nov 23, 2012 3:22am Nov 23, 2012 3:22am
Quoting Articulate
I have just completed two interesting analyses on 100 pips price action and 200 pips price action within Masterchart which I believe might be useful for both positioned traders and short-term traders. I will be sharing detailed information on these analysis within the next few weeks.
100 Pips Price Action Analysis (100 PPAA) & 200 Pips Price Action Analysis (200 PPAA)

As I promised in the post above let me share my analysis on 100 PPAA & 200 PPAA within the Masterchart. 100 PPAA & 200 PPAA are the analyses price action within the Masterchart levels using 100 pips and 200 pips price movement respectively. Here is exactly what to do:

100 PPAA - Day Traders

1. Divide your Masterchart into 10 equal parts of 100 pips each
2. For Day traders you will trade in the direction of the weekly candle at the break of every 100 pips. Your trading range is 100 pips and pick
whatever pips you are able to within this range using H4 candles as a guide. If the trend is strong on H4 candles you can allow your profit to
run if you are able to monitor the trade
3. Most of the time price completes 500 pips move before any significant retrace. The first 500 pips is what you should concentrate on.
4. For your stop loss keep it at any ratio you are comfortable with but not more that 2% of your account.

100 PPAA - Medium/Long Term Traders


1. Divide your Masterchart into 10 equal parts of 100 pips each
2. Your trading range 1000 pips
3. Use the 100 PPAA to determine your Risk/Reward Ratio which is 9:1. What this means is that you look for buy/sell after in the last 100
pips of 1000 pips price movement, which is your entry zone.
4.To enter a trade you search for pins of the weekly candles within this zone or a weekly reversal candle (reversal candle is the first weekly
bearish or bullish candle after about 900-1000 pips price movement).
5. Most of the time price completes 500 pips moves before any significant retrace. The first 500 pips is what you should concentrate on.
6. With Risk/Reward ratio of 9:1 you put your SL for sell within the next buy zone (after 1000 pips) and your SL for buy within the next sell
zone (after 1000 pips) provided this is within 2% of your trading account.

I attach herewith the GBPUSD charts in for 100 PPAA.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: daily - 100 ppaa.gif Size: 23 KB
Click to Enlarge Name: daily2 - 100 ppaa.gif Size: 19 KB
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