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Simple Money Making Method

  • #2,421
  • Dec 12, 2012 6:09am Dec 12, 2012 6:09am
Had a good laugh reading the replies to that Shane kid's remark. I want to know the broker that give him that kind of spreads to profit from 5second trades.

Pip on guys!
  • #2,422
  • Dec 12, 2012 6:59am Dec 12, 2012 6:59am
Quoting FX-Pro
You are right...!

Since the price was making LL & LH.... it was Contradicting with the main trend... + it was not a single bar reject / OB Etc... this is the reason to stay away from it...

Cheers,
FX-Pro
I know I am right, I just didn't know if you know how this applies to your simple method. I like it so much 'cause it confirms what I know
about channels (I am a channel trader - sprent years learning how to build them). It's amazing how two different traders come to the
same results with two different methods. Let me show you my channels, H4 (white is a long time channel) and H1 which explains what
has happened yesterday,

Cheers,
Lietuve
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  • #2,423
  • Dec 12, 2012 7:22am Dec 12, 2012 7:22am
Quoting lietuve
I know I am right, I just didn't know if you know how this applies to your simple method. I like it so much 'cause it confirms what I know
about channels (I am a channel trader - sprent years learning how to build them). It's amazing how two different traders come to the
same results with two different methods. Let me show you my channels, H4 (white is a long time channel) and H1 which explains what
has happened yesterday,

Cheers,
Lietuve
This is very interesting lietuve. If anything, I can see that if PA conforms to staying within these channels and you are able to draw the channel regions accurately enough, then this would give us a distinct edge for pinpointing our optimal Take Profit. Especially if this price intersects with strong and/or RN support resistance levels.

Nice work dude
Most people have the will to win, few have the will to prepare to win
  • #2,424
  • Dec 12, 2012 8:22am Dec 12, 2012 8:22am
Quoting burnzmeister
This is very interesting lietuve. If anything, I can see that if PA conforms to staying within these channels and you are able to draw the channel regions accurately enough, then this would give us a distinct edge for pinpointing our optimal Take Profit. Especially if this price intersects with strong and/or RN support resistance levels.

Nice work dude
Thanks, burnzmeister.
Actually I am not going to post any more channels on this thread, not to interfere with the system that by itself is so good.
What I did, I just complimented FX-Pro for inventing the system, that confirms with what I do, and makes a lot of sense to me.

cheers,
Lietuve
  • #2,425
  • Dec 13, 2012 8:42am Dec 13, 2012 8:42am
Nothing interesting at the moment huh....

All pairs that i trade have reached the daily support / resistance zone...

Patience...
FX-Pro
  • #2,426
  • Dec 13, 2012 8:46am Dec 13, 2012 8:46am
Quoting FX-Pro
Nothing interesting at the moment huh....

All pairs that i trade have reached the daily support / resistance zone...

Patience...
FX-Pro
Hi Fx-Pro, wich pairs are giving you the same confidence as the AUDUSD? The major ones?

A little off-topic but what software you guys use the write down your trades?
  • #2,427
  • Dec 13, 2012 9:15am Dec 13, 2012 9:15am
Quoting Nidolap
Hi Fx-Pro, wich pairs are giving you the same confidence as the AUDUSD? The major ones?
NZD/USD my second best pair.

Quoting Nidolap
A little off-topic but what software you guys use the write down your trades?
I don't use any software... why don't you start a trading journal & post all your trades there.

Cheers,
FX-Pro
  • #2,428
  • Dec 13, 2012 9:31am Dec 13, 2012 9:31am
Quoting FX-Pro
NZD/USD my second best pair.



I don't use any software... why don't you start a trading journal & post all your trades there.

Cheers,
FX-Pro
That's a nice idea and it would keep me updated...but I'd also like to have a trading log for myself. I was thinking of using Google Drive Spreadsheets and Documents, it's online, we can access it from anywhere with an active internet account.
  • #2,429
  • Dec 13, 2012 9:36am Dec 13, 2012 9:36am
Quoting Nidolap
That's a nice idea and it would keep me updated...but I'd also like to have a trading log for myself. I was thinking of using Google Drive Spreadsheets and Documents, it's online, we can access it from anywhere with an active internet account.
check myfxbook.com ;-)
  • #2,430
  • Dec 13, 2012 9:58am Dec 13, 2012 9:58am
I don't think anything can beat copying and pasting screenshots of your trades into a word doc and writing descriptions about the market conditions, why you entered, trade management, etc. This might be more work than recording your trades in a spreadsheet, but you aren't going to learn much by looking at past trades on a spreadsheet IMHO.

Trading, for me, is all about pattern recognition, but no two patterns are the same. So how do you quantitatively assess which patterns have a high probablilty of success over random patterns? I don't think you can. Well, maybe Goldman Sachs can, but they have a hell of a lot more money and know-how than all of us.
Most people have the will to win, few have the will to prepare to win
  • #2,431
  • Dec 13, 2012 10:25am Dec 13, 2012 10:25am
"Hi Fx-Pro, wich pairs are giving you the same confidence as the AUDUSD? The major ones?"

Fx-Pro, sorry about asking something you have apparently answered earlier (could not find that post for some reason, sorry again) - do I get it right that you are long the Aussie and Kiwi?
Thanks.
  • #2,432
  • Dec 13, 2012 5:00pm Dec 13, 2012 5:00pm
Quoting burnzmeister
I don't think anything can beat copying and pasting screenshots of your trades into a word doc and writing descriptions about the market conditions, why you entered, trade management, etc. This might be more work than recording your trades in a spreadsheet, but you aren't going to learn much by looking at past trades on a spreadsheet IMHO.

Trading, for me, is all about pattern recognition, but no two patterns are the same. So how do you quantitatively assess which patterns have a high probablilty of success over random patterns? I don't think...
Totally agree with you, maybe the best is having a log book like a spreadsheet and a word doc with full details.
  • #2,433
  • Dec 13, 2012 9:13pm Dec 13, 2012 9:13pm
Hello ... been hanging around the thread being a silent observer. Decided to try the system. It is similar to the J16 base system where we wait for the pullback of price to "touch" the slower EMA. Anyway ... anyone in on this one ??? My first try at the system.
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  • #2,434
  • Dec 13, 2012 9:46pm Dec 13, 2012 9:46pm
Took this one too ... could not resist testing the system ...
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  • #2,435
  • Dec 14, 2012 3:34am Dec 14, 2012 3:34am
Quoting gex_mbla
Hello ... been hanging around the thread being a silent observer. Decided to try the system. It is similar to the J16 base system where we wait for the pullback of price to "touch" the slower EMA. Anyway ... anyone in on this one ??? My first try at the system.

Yes, I think its better the the J16 method because it looks at the trend also. I traded j16 for a year, but only made a very small profit which was frustrating. I found that to oftern I was trading price action and good s/r levels, but without realizing that price was range bound. This lead to a LOT of BE trades.

Not to slate J16 because it really taught me the importance of Price Action
  • #2,436
  • Dec 14, 2012 9:37am Dec 14, 2012 9:37am
Not really following this system, but I couldn't ignore this pinbar on EUR/GBP earlier.
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  • #2,437
  • Edited 11:32am Dec 14, 2012 10:34am | Edited 11:32am
Afternoon all, first post here (first on Forex Factory in fact I think!). Been following this thread for a while, seems like a pretty good strategy from what I've seen. I was just wondering whether this AUDUSD setup is valid, I think it is and it seems to be going ok at the moment.
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  • #2,438
  • Dec 14, 2012 2:29pm Dec 14, 2012 2:29pm
I don't use the ma72, I use the ema50 because, like others, I like to be in the trade earlier. I've also added an ema3. When I see the ema3 cross the ema13 it perks up my attention. Then when the ema crosses the ema50 I go on high alert. Those crosses along with S/R and trend lines more often than not result in a successful trade.
Hi, my name is Barry and you can keep your doctor...
  • #2,439
  • Dec 14, 2012 5:04pm Dec 14, 2012 5:04pm
At last - perfect-normal method of trading. And can fit in all charts, not only currencies. Because of market's fractality.
Before I found this topic, I watched earlier a movie on YT called "4H market rhythm". It was quite new for me - to use onli the simpliest indicators.
S3M is even simplier.

But as we know - people are born to make simple things more complex
So - I dont know if my pictures are more complex or maybe they will help me in future trading...

If we see 2 EMA's - we simply can call it - MACD, right? So... lets put MACD 12,72,1 (I don't need a signal line). Just for directions (positive/negative)... and some STS to confirm little moves.
And some MTF stuff.

My idea is - to trade long only when there's opportunity and whe higher timeframe MACD direction is positive....

Ill try to trade on it next week. Timeframe - M15 - just because there will be more chances to take a trade.

Just look at the pictures
I also made little change in "round numbers" indicator - it had errors on 2/4 digits accounts.

Once again - thank you for this topic, FX Pro.
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Attached File(s)
File Type: mq4 FX-Pro Round Numbers.mq4   4 KB | 476 downloads
  • #2,440
  • Dec 14, 2012 5:14pm Dec 14, 2012 5:14pm
This was the GBPUSD trade that was triggered in my earlier post. I was using the original system used in this thread before all that 8 ema channel stuff. The pound took off in the right direction but retraced back to my BE level. I was using the luktom visual order editor to manage this trade. I would call this one a draw ... with +50 pips instead of a negative.
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