Simple Money Making Method | Page 119 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

SIMPLE EA for a simple method needed!! 2 replies

Making Money is Extremely Simple 38 replies

bo7a method... method for GBP/JPY 205 replies

Making an EA: "Simple Method of Scalping any pair by Imran Sait" 82 replies

Simple trading method 49 replies

Attachments: Simple Money Making Method
Exit Attachments

Simple Money Making Method

  • #2,361
  • Dec 7, 2012 11:25am Dec 7, 2012 11:25am
Quoting FX-Pro
Any one entered the A/U 1H.... Trigger ?

I was in at the close above 72EMA & 12EMA . enter at 1.0477 and exit 1.0492.
Nice system. Thanks FxPro
  • #2,362
  • Dec 8, 2012 9:42am Dec 8, 2012 9:42am
Quoting bogdan1
@xiaotiao,

BE = breakeven, it means to move the stop loss to the entry point if the price goes in your favor.
In this way you protect yourself against losses if price returns and goes against you.
It means no loss, no gain.
hope it helps.
Quoting burnzmeister
It's been stated quite a few times already on this thread...

BE means 'Break Even'. After a trade moves in your favour, you may want to move your SL (Stop Loss) to the price at which you entered, thus eliminating any risk for the rest of the trade (assuming you don't then move it again, in the wrong direction - Never increase your SL without good reason to do so i.e. imminent major news release).

Now, you don't want to make the mistake of moving your SL too early, because that will increase your chances of being stopped out due to inherent market...
Thanks a lot. Both of you really helped me a lot.
Trading is not easy
  • #2,363
  • Dec 8, 2012 8:22pm Dec 8, 2012 8:22pm
I think this way of trading is very simple. With the help of support and resistance it is very easy and simple to find the reversals and good entry points in all the pairs. I'm posting different pics with possible entries in the last weeks (not the GBP, I went back for the pic). I'm not using candlesticks to show simple price action only with the "close", how easy is to find support-resistance, range zones too. I think trading is very simple but we want to make it difficult just to pretend that we are genius. With some patient, discipline to wait, wait and wait, not risking too much and waiting again, we can success in this business. This classic method give a lot of time to analyze different pairs. We can even trade the indexes, commodities, stocks, etc... ah!, the pics are minimizes at maximum, I think it give a better view of the market.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EUR.png Size: 159 KB
Click to Enlarge Name: CAD.png Size: 157 KB
Click to Enlarge Name: CHF.png Size: 164 KB
Click to Enlarge Name: EUR-JPY.png Size: 143 KB
Click to Enlarge Name: GBP.png Size: 141 KB
Click to Enlarge Name: GBP-JPY.png Size: 146 KB
Click to Enlarge Name: JPY.png Size: 156 KB
Swing with the tide, Surf with the waves!
  • #2,364
  • Dec 9, 2012 12:39am Dec 9, 2012 12:39am
Greetings FX-Pro and readers.

Your system is effective and simple. I have not tried it specifically, but I trade a similar type of system which I called The Magic Monster MacD. In essense it uses the same bouncing off of the EMA resistance.

I trade only one pair (The Grumpy Grandma) which is Gbp Jpy. She gives a stout punch if you disrespect her, but she treats you well if you do the same to her.

I would like to know your thoughts on Magic Monster. It is most suited to Long term trades, and yes it works effectively to reach 1000+ pip trades.

You can see it here:- http://www.forexfactory.com/showthre...=magic+monster

One other thing, I recently discovered a new way (new for me at least) of looking for precise entry and exit points via Gann Grids. (Well actually the use of Gann Grids in Pyrapoint by Donn Hall - Google this it is well worth checking out.) This in turn led me to experimenting and discovering some pretty interesting stuff that I have not seen mentioned so far regarding Gann Grids.

The reason for mentioning this is that with the EMA resistance bounce method combined with the Pyrapoint perspective, the trading profitability is enhanced exponentially. (I can not state this yet for fact as I have only recently begun trading this new 'add on' with my Monster method. Only time will tell.)

Thanks for sharing your method. I am going to download the history data for AusUsd and check out your system in backtrading. Grumpy Granny is often erratic so those 1 bar bounces are rare.

BlueMental
  • #2,365
  • Dec 10, 2012 5:03am Dec 10, 2012 5:03am
A/u just triggered a long, maybe wait for a slight pullback before an entry. anyone else see it ?
  • #2,366
  • Dec 10, 2012 5:11am Dec 10, 2012 5:11am
Howdy,

Yes I did but maybe in a bit too soon. I have a very tight stop, tired of losing

cheers
Ymmit
  • #2,367
  • Dec 10, 2012 5:23am Dec 10, 2012 5:23am
I would have taken trade at 1.0484 and looked to tp at 1.0500, with a stop loss at 1.0471.
  • #2,368
  • Dec 10, 2012 5:38am Dec 10, 2012 5:38am
Morning! Recovering from a weekend in Amsterdam! how we all doing!
  • #2,369
  • Dec 10, 2012 5:43am Dec 10, 2012 5:43am
This one looks as a text book trade to me (entered on the open of the yellow marked candle). The candle touched the 72EMA and closed above 12EMA, we also have a strong trendline that has been tested too.

What do you guys think it is the best TP?
Attached Image
  • #2,370
  • Dec 10, 2012 5:55am Dec 10, 2012 5:55am
Howdy,

I got in AU at 1.04829 with my stop at 1.04800. Watching closely will take profit soon, getting ready to say Goodnight from downunder.

cheers
Ymmit
  • #2,371
  • Dec 10, 2012 6:00am Dec 10, 2012 6:00am
Hello Folks,

Though I have a long bias on A/U This week, I Doubt this trigger.... hmmm
Attached Image (click to enlarge)
Click to Enlarge Name: Untitled.png Size: 20 KB
  • #2,372
  • Dec 10, 2012 6:05am Dec 10, 2012 6:05am
Many thanks for your thoughts FX Pro, took my profit and thats it for me for the night.

cheers
Ymmit
  • #2,373
  • Dec 10, 2012 6:15am Dec 10, 2012 6:15am
Quoting burnzmeister
I think I've been looking at too many pairs to tell you the truth. Different pairs really do behave differently and tend to have their own optimal entry paterns. I'm only looking at the Aussie from now on, until I've mastered it! The outside bar really does seem like a good EMA bounce entry and S/R bounce re-entry pattern for this pair.
Probably one of the important reason how I mastered this method, I never used to trade any other pair apart from A/U until i started this thread

Quoting burnzmeister
Do you have a reliable entry pattern you look out for over any others FX-Pro?
Yes I do... Apart from the OB i have couple of other reliable patterns.... but which will go against this method.... & i don't want to do that...

some time I even think I should have started a thread under trading discussion instead of system, would have been much easier for me to post all my entry triggers...
  • #2,374
  • Dec 10, 2012 6:16am Dec 10, 2012 6:16am
Quoting ymmit
Many thanks for your thoughts FX Pro, took my profit and thats it for me for the night.

cheers
Ymmit
Good for you keep it up...
  • #2,375
  • Dec 10, 2012 6:25am Dec 10, 2012 6:25am
Quoting FX-Pro
Yes I do... Apart from the OB i have couple of other reliable patterns.... but which will go against this method.... & i don't want to do that...

some time I even think I should have started a thread under trading discussion instead of system, would have been much easier for me to post all my entry triggers...
You could just post all your trading activity on a new thread in Trading Discussion and leave this one as it is. If people want to see the finer details of this method you could just point them to this thread from there. Just a thought. Whatever you do though, please keep on posting somewhere on this forum. We all value your insight
Most people have the will to win, few have the will to prepare to win
  • #2,376
  • Dec 10, 2012 6:47am Dec 10, 2012 6:47am
Quoting FX-Pro
Hello Folks,

Though I have a long bias on A/U This week, I Doubt this trigger.... hmmm
The way I see it: resistance at 1.048416 is broken, nearest support @ 1.045828. I am still holding this trade until close of the bar.
  • #2,377
  • Dec 10, 2012 7:16am Dec 10, 2012 7:16am
Quoting lietuve
The way I see it: resistance at 1.048416 is broken, nearest support @ 1.045828. I am still holding this trade until close of the bar.
Closed @ 1.05
  • #2,378
  • Dec 10, 2012 7:16am Dec 10, 2012 7:16am
Quoting lietuve
The way I see it: resistance at 1.048416 is broken, nearest support @ 1.045828. I am still holding this trade until close of the bar.
Not bad... looks like the US pushed it up further....
  • #2,379
  • Dec 10, 2012 7:17am Dec 10, 2012 7:17am
Quoting FX-Pro
Not bad... looks like the US pushed it up further....
thanks
  • #2,380
  • Dec 10, 2012 7:18am Dec 10, 2012 7:18am
a/u, successful trade, closed at 1.0500, big round number with 13 pips profit.
many thanks FX-PRO, patience is certainly the key to this strategy.
1 trader viewing now