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Simple Money Making Method

  • #2,261
  • Nov 30, 2012 5:12am Nov 30, 2012 5:12am
Quoting FX-Pro
Here is my A/U 1H Entry...
Took a BE... after a 20 Pips move....

Should be careful next time we get this scenario...

Cheers,
FX-Pro
  • #2,262
  • Nov 30, 2012 6:58am Nov 30, 2012 6:58am
Quoting FX-Pro
Took a BE... after a 20 Pips move....

Should be careful next time we get this scenario...

Cheers,
FX-Pro
That trade was not a BE, i wasn't there at my system.... & i thought it took my BE...

This is what is call real luck, It feels really good when luck Favours you...

It just missed by 1.7 Pips... in fact I should thank my broker for the spread that i got..... otherwise the spread would have taken my trade....

Cheers
FX-Pro
Attached Image
  • #2,263
  • Nov 30, 2012 7:00am Nov 30, 2012 7:00am
Quoting FX-Pro
Took a BE... after a 20 Pips move....

Should be careful next time we get this scenario...

Cheers,
FX-Pro
the same story for me. Fx-pro, how do you think, was that a mistake do move s/l to BE ? or we did it right because of friday caution? or mb we should close 20pip move, but it would not be good > 16-20 pips s/l, 18-20 pips profit ... bad proportion
  • #2,264
  • Nov 30, 2012 7:04am Nov 30, 2012 7:04am
Quoting FX-Pro
That trade was not a BE, i wasn't there at my system.... & i thought it took my BE...

This is what is call real luck, It feels really good when luck Favours you...

It just missed by 1.7 Pips... in fact I should thank my broker for the spread that i got..... otherwise the spread would have taken my trade....

Cheers
FX-Pro
really happy for u, i got stopped, and i entered the same place u did) just spread 3-3.5pip
but any way i have positions in cable and gold, so nvm)
  • #2,265
  • Nov 30, 2012 7:40am Nov 30, 2012 7:40am
Quoting FX-Pro
That trade was not a BE, i wasn't there at my system.... & i thought it took my BE...

This is what is call real luck, It feels really good when luck Favours you...

It just missed by 1.7 Pips... in fact I should thank my broker for the spread that i got..... otherwise the spread would have taken my trade....

Cheers
FX-Pro
I moved it to BE because of Friday sentiment, otherwise also i usually move to BE soon as i reach first 15 to 20 pips... or above/below the previous candle...

but what i got this time is luck & nothing else if it is missed by just 1.7 pips...

I don't consider these kind of trades as a successful trade though...

anyways.. i closed the position for +29 Pips now...

Ok Guys…

With this I'm signing off for the week/Month

Going on a short vacation, I may not be trading next week I guess…

Happy Pipping…
FX-Pro
  • #2,266
  • Nov 30, 2012 7:49am Nov 30, 2012 7:49am
Quoting FX-Pro
I moved it to BE because of Friday sentiment, otherwise also i usually move to BE soon as i reach first 15 to 20 pips... or above/below the previous candle...

but what i got this time is luck & nothing else if it is missed by just 1.7 pips...

I don't consider these kind of trades as a successful trade though...

anyways.. i closed the position for +29 Pips now...

Ok Guys…

With this I'm signing off for the week/Month

Going on a short vacation, I may not be trading next week I guess…

Happy Pipping…
FX-Pro
good luck, have a nice vacation
  • #2,267
  • Nov 30, 2012 7:50am Nov 30, 2012 7:50am
Quoting FX-Pro
I moved it to BE because of Friday sentiment, otherwise also i usually move to BE soon as i reach first 15 to 20 pips... or above/below the previous candle...

but what i got this time is luck & nothing else if it is missed by just 1.7 pips...

I don't consider these kind of trades as a successful trade though...

anyways.. i closed the position for +29 Pips now...

Ok Guys…

With this I'm signing off for the week/Month

Going on a short vacation, I may not be trading next week I guess…

Happy Pipping…
FX-Pro
before taking your vacation can you please post some monthly statements using this method
  • #2,268
  • Nov 30, 2012 8:50am Nov 30, 2012 8:50am
Quoting Furio
before taking your vacation can you please post some monthly statements using this method
His monthly statements wouldn't be indicative of your potential results, because you're not him! Stop being lazy and back-test for yourself!
Most people have the will to win, few have the will to prepare to win
  • #2,269
  • Nov 30, 2012 8:51am Nov 30, 2012 8:51am
Quoting burnzmeister
His monthly statements wouldn't be indicative of your potential results, because you're not him! Stop being lazy and back-test for yourself!
it's not about being lazy it's about trying to see which method gives better results
  • #2,270
  • Nov 30, 2012 9:35am Nov 30, 2012 9:35am
Quoting Furio
it's not about being lazy it's about trying to see which method gives better results
try it for a month, and you'll see
  • #2,271
  • Nov 30, 2012 9:37am Nov 30, 2012 9:37am
Quoting Furio
it's not about being lazy it's about trying to see which method gives better results
Have a look at a chart?
Most people have the will to win, few have the will to prepare to win
  • #2,272
  • Nov 30, 2012 9:46am Nov 30, 2012 9:46am
Quoting burnzmeister
Have a look at a chart?
charts can be different , you can win or you can lose. I want an overall view of the results this method brings
  • #2,273
  • Nov 30, 2012 10:34am Nov 30, 2012 10:34am
Give up! you won't get them! He trades other methods, we all do! And this system is highly based on trader discretion based! If you looking for a quick buck then your in the wrong place!
  • #2,274
  • Nov 30, 2012 11:03am Nov 30, 2012 11:03am
Quoting Furio
charts can be different , you can win or you can lose. I want an overall view of the results this method brings
Why take FX-Pro's word for it? It's all in the charts... How much edge a system have can always be answered by backtesting. Risk/reward ratio, win/lose ratio, frequency of trades, duration of trades... It is all in the charts. Backtest them, forward test them, do statistical analysis on them...

Heck you can even get inspiration from SM3 and come up with your own system the way you see fit.

The rest depends on your money management. A simple balance chart does not prove a great system make.
  • #2,275
  • Nov 30, 2012 11:12am Nov 30, 2012 11:12am
USDJPY - Entered on demo yesterday night, closed it early even though SL has not been met. First vertical line is point of entry, the other vertical line is the latest I would have exited. (2nd vertical line was where M15's MACD12,26,9 went from positive to negative). Was good for at least 30 pips.

Of course Yen went down against many pairs today, and nobody could have predicted what BOJ was going to do.

Anyone care to shed some light into this particular trade? Good/bad? Other discretion I should have considered before taking the trade?

Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy 011212.gif Size: 24 KB
  • #2,276
  • Nov 30, 2012 11:39am Nov 30, 2012 11:39am
Quoting FX-Pro
That trade was not a BE, i wasn't there at my system.... & i thought it took my BE...

This is what is call real luck, It feels really good when luck Favours you...

It just missed by 1.7 Pips... in fact I should thank my broker for the spread that i got..... otherwise the spread would have taken my trade....

Cheers
FX-Pro
I was not able to understand well about the concept of "BE" you mentioned? Can you please show me some guidance? Did you mean that the price just 1.7 pips away from the SL that you have shifted to BE? So you are very lucky that your SL was not hit..? Sorry for bothering you.
Trading is not easy
  • #2,277
  • Nov 30, 2012 1:04pm Nov 30, 2012 1:04pm
Quoting xiaotiao
I was not able to understand well about the concept of "BE" you mentioned? Can you please show me some guidance? Did you mean that the price just 1.7 pips away from the SL that you have shifted to BE? So you are very lucky that your SL was not hit..? Sorry for bothering you.
I think you've got it. BE just means break even. At some point during the trade price moved ahead far enough that the SL was moved to BE. He may have taken a portion of his profits and let the rest keep going at that point and he had a no lose situation from that point on.

What I hate is when price moves 8 or 9 pips in my favor and starts to reverse. I always struggle with myself over whether to sit tight and hope things turn around or wait until my SL is hit. As jumpy as the markets have been I usually won't allow my trade to go negative. I'll go ahead and close the trade for a BE or a slight win. Sometimes I regret closing it because it turns around and goes the way I thought it would originally. On the other hand I've saved myself from a loser many times.
Hi, my name is Barry and you can keep your doctor...
  • #2,278
  • Nov 30, 2012 3:39pm Nov 30, 2012 3:39pm
Quoting Furio
charts can be different , you can win or you can lose. I want an overall view of the results this method brings
You are misguided and the responses you are getting are bang on. You would never be able to replicate what FX-Pro does. You do not know his risk level and more importantly, the discretionary element he adds to almost every trade. This discretionary element has come from hours of painstaking research. I bet you havent even read the whole thread.....

There is no guarantee that you will be profitable with this method. Most newbies like you over trade and suffer significant drawdown. At some point you will suffer a series of losses and dump the method to go searching for another.

If you cant perform your own testing on methods shown in books and forums you really have no place in this arena.

Harsh but fair?
  • #2,279
  • Nov 30, 2012 3:50pm Nov 30, 2012 3:50pm
Quoting burnzmeister
His monthly statements wouldn't be indicative of your potential results, because you're not him! Stop being lazy and back-test for yourself!
Hi Burnz

This is d basic reason why ppl hate posting charts or describing their trades.

One of my friend has a very good potential history but keeps mum.

4xprofessor
  • #2,280
  • Edited 4:14pm Nov 30, 2012 4:02pm | Edited 4:14pm
Quoting omni
You are misguided and the responses you are getting are bang on. You would never be able to replicate what FX-Pro does. You do not know his risk level and more importantly, the discretionary element he adds to almost every trade. This discretionary element has come from hours of painstaking research. I bet you havent even read the whole thread.....

There is no guarantee that you will be profitable with this method. Most newbies like you over trade and suffer significant drawdown. At some point you will suffer a series of losses and dump the method...
you have no idea about me and my experience. Been trading for more than 2 years now, I'm not the newbie you think
And of course I didn't read the whole thread, I understood it only from reading a few pages.
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