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Simple Money Making Method

  • #2,221
  • Nov 29, 2012 7:43am Nov 29, 2012 7:43am
Late to the show by 5Pips, closed half position at 20pips and letting the rest try to hit the RN.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd 291112.gif Size: 24 KB
  • #2,222
  • Nov 29, 2012 7:50am Nov 29, 2012 7:50am
if aussie were to close now... it looks like a valid sell signal. correct?
  • #2,223
  • Nov 29, 2012 7:53am Nov 29, 2012 7:53am
Quoting menghua84
if aussie were to close now... it looks like a valid sell signal. correct?
Not a good idea since you'll still be going against the 200EMA, and against H4 setups.
  • #2,224
  • Nov 29, 2012 7:54am Nov 29, 2012 7:54am
Quoting lietuve
Funny, how symmetrical this euro recovery is on H4 chart.
1.301223 might be a major resistance area again.
Right it is a major resistance Indeed...
  • #2,225
  • Nov 29, 2012 7:55am Nov 29, 2012 7:55am
Quoting FX-Pro
Closed first half position for 20 Pips & moved the other half position to BE....
Closed all for 20 Pips... again...
  • #2,226
  • Nov 29, 2012 7:59am Nov 29, 2012 7:59am
Quoting menghua84
if aussie were to close now... it looks like a valid sell signal. correct?
Nope! its not a trigger....
  • #2,227
  • Nov 29, 2012 8:02am Nov 29, 2012 8:02am
Quoting koosvdh
FX-Pro, I started applying your strategy from about the 7th of this month. I was very sceptic and traded with some caution.
But, hell yeah, I got more than 6% growth this month.
I reached my target in 3/4 of the month and could have gotten a lot more.

Thanks a lot for helping me and I hope a lot of others.
That's a nice profit koosvdh. Could you please tell us what trades you made this month? I think everyone here would find it beneficial.

Thanks
Most people have the will to win, few have the will to prepare to win
  • #2,228
  • Edited 9:45am Nov 29, 2012 9:32am | Edited 9:45am
USD/CAD was looking really good for a valid short last hour. Not quite an outside bar but good momentum i thought...
Bounced right back up and knocked me out!

Was i reading it wrong or just one of those trades?

Bah!! Should pay attention to news. Guess it was the housing stats...
  • #2,229
  • Nov 29, 2012 9:45am Nov 29, 2012 9:45am
@chux33.

USD/CAD is in a 40 pips range since 4 days.
Maybe was a good idea to wait to break the range before entering.
  • #2,230
  • Nov 29, 2012 9:50am Nov 29, 2012 9:50am
Anyone watching yen now? A setup is forming
  • #2,231
  • Nov 29, 2012 10:34am Nov 29, 2012 10:34am
Fx-Pro,

I am a forex newbie here. Is the candle I marked below considered as a valid entry? If it is, but the price goes down before it goes up, so the SL will be hit. If it is not, why? Sorry English is not my native language. Hopefully Fx-Pro and seniors can help me, thanks.
Attached Image (click to enlarge)
Click to Enlarge Name: forex.png Size: 27 KB
Trading is not easy
  • #2,232
  • Nov 29, 2012 10:38am Nov 29, 2012 10:38am
Quoting chux33
USD/CAD was looking really good for a valid short last hour. Not quite an outside bar but good momentum i thought...
Bounced right back up and knocked me out!

Was i reading it wrong or just one of those trades?

Bah!! Should pay attention to news. Guess it was the housing stats...
Always check out the H4 chart too. It gives you a really good overview and filters out a lot of, would be, bad trades
Most people have the will to win, few have the will to prepare to win
  • #2,233
  • Nov 29, 2012 10:43am Nov 29, 2012 10:43am
Quoting xiaotiao
Fx-Pro,

I am a forex newbie here. Is the candle I marked below considered as a valid entry? If it is, but the price goes down before it goes up, so the SL will be hit. If it is not, why? Sorry English is not my native language. Hopefully Fx-Pro and seniors can help me, thanks.
Nope...!

I look for a single bar reject/bounce from 72/200 EMA close above 12 EMA.... please go back on the thread.... you will see the idea behind it...
  • #2,234
  • Nov 29, 2012 10:55am Nov 29, 2012 10:55am
Quoting xiaotiao
Fx-Pro,

I am a forex newbie here. Is the candle I marked below considered as a valid entry? If it is, but the price goes down before it goes up, so the SL will be hit. If it is not, why? Sorry English is not my native language. Hopefully Fx-Pro and seniors can help me, thanks.
Also a noob and it took me a while to get the grasp of the concept but i think the trigger-bar would have been the one befor the arrow. IF it had more momentum/better formation, as it touched ema72 and broke ema12.
  • #2,235
  • Nov 29, 2012 10:55am Nov 29, 2012 10:55am
Check out the pattern I've highlighted in the green ellipse.

An optimal setup with regards to this strategy, IMHO, is a sharp decline or incline followed by a strong momentum bar in the opposite direction. The best setups happen over a few bars and its best to check the H4 TF for a reversal candlestcik confirmation i.e. an engulfing or outside bar patterns.

It's the wave of momentum we want to get in on. It's hard to explain, but if you just look back over your charts and look for similar patterns, you'll get the gist of it.
Attached Image (click to enlarge)
Click to Enlarge Name: aussie3.JPG Size: 131 KB
Most people have the will to win, few have the will to prepare to win
  • #2,236
  • Nov 29, 2012 11:14am Nov 29, 2012 11:14am
Quoting FX-Pro
Nope...!

I look for a single bar reject/bounce from 72/200 EMA close above 12 EMA.... please go back on the thread.... you will see the idea behind it...

Fx-Pro,

is it really like what chux33 had said that the candle before the arrow is a valid entry for a long order? may I know that whether is there any valid entry in the picture i attached below?
Attached Image (click to enlarge)
Click to Enlarge Name: forex1.png Size: 26 KB
Trading is not easy
  • #2,237
  • Nov 29, 2012 11:19am Nov 29, 2012 11:19am
Quoting chux33
Also a noob and it took me a while to get the grasp of the concept but i think the trigger-bar would have been the one befor the arrow. IF it had more momentum/better formation, as it touched ema72 and broke ema12.
Ya I am a noob thus i need help from you all. If I really made an entry at the candle before the arrow, then it would be a fail trade right? As the price does not really goes up but goes down actually.
Trading is not easy
  • #2,238
  • Nov 29, 2012 11:22am Nov 29, 2012 11:22am
I didnt say it was a valid entry.
It need to break ema12 AND show goodprice-action. Bar befor arrow looks really weak.
  • #2,239
  • Nov 29, 2012 11:24am Nov 29, 2012 11:24am
Quoting burnzmeister
Check out the pattern I've highlighted in the green ellipse.

An optimal setup with regards to this strategy, IMHO, is a sharp decline or incline followed by a strong momentum bar in the opposite direction. The best setups happen over a few bars and its best to check the H4 TF for a reversal candlestcik confirmation i.e. an engulfing or outside bar patterns.

It's the wave of momentum we want to get in on. It's hard to explain, but if you just look back over your charts and look for similar patterns, you'll get the gist of it.
Sorry my English standard really not very well. Do you mean that the candles you highlighted can be taken as an optimal entry? especially the longest bullish candle? the reason is it bounce from 72EMA & 200 EMA, and it closes above 12 EMA?
Trading is not easy
  • #2,240
  • Nov 29, 2012 11:27am Nov 29, 2012 11:27am
Quoting chux33
I didnt say it was a valid entry.
It need to break ema12 AND show goodprice-action. Bar befor arrow looks really weak.
Really thanks for your quick response
Good price action such as longer bullish candle?or else a sharp decline after a downtrend?
Trading is not easy
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