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Simple Money Making Method

  • #2,501
  • Edited 9:09am Dec 19, 2012 8:43am | Edited 9:09am
Quoting cliffjs
Ok Guy's I must say sorry for joining your thread as past experience tells me that I have a fantastic habit of giving any system the kiss of death. I have seen many winning trades posted and very few losers but with me on board I am quite sure that will all change. I know the original system was on the 1h chart but I see people are happy to trade the 4h as well, this fits well with my life/work. so I have started. I posted this trade when I took it on the 17th, it looked to me to be the classic set up bounce off of the 72ema and closed below the...
Hi, clhffs, I believe that you are not a bad omen to this wonderful trend, quite opposite, you are very useful, cause the mistake you did, many newbes do, so it is useful for the trend to analyze them. There how I see it.

You sold at the right time, that's OK. Your sell price should have been .9847 (at the opening of the next bar) then never enter the trade
without a plan. This trade had a very simple plan, cause on Dec 12-14th, just three days ago was established a support @ 9822. There was your
first profit taking opportunity, and the rest of the trade should have been put on b/e. Support worked, so the profit would have been 25 pips (minus spread) , no free ride, sorry, sometimes happens at the turn of the market. But 25 pips is nothing to complain about.

p.s. I was looking at H1 chart, 'cause that's what I use to analyze, and to trade. Now, I apologize, the profit would be smaller, about 16 pips minus
spread on h1 chart, and even smaller on H4. (maybe I should make myself a Christmas gift buying glasses ), but still paying attention to support - no loss.

Cheers,
Lietuve
  • #2,502
  • Dec 19, 2012 9:20am Dec 19, 2012 9:20am
Quoting lietuve
Hi, clhffs, I believe that you are not a bad omen to this wonderful trend, quite opposite, you are very useful, cause the mistake you did, many newbes do, so it is useful for the trend to analyze them. There how I see it.

You sold at the right time, that's OK. Your sell price should have been .9847 (at the opening of the next bar) then never enter the trade
without a plan. This trade had a very simple plan, cause on Dec 12-14th, just three days ago was established a support @ 9822. There was your
first profit taking opportunity, and the rest...
Thanks for your reply, I did take support into account the support was 0.9824 my trade never got to that level. nevertheless the trade is taking a turn for the better so there is still hope.
  • #2,503
  • Dec 19, 2012 9:30am Dec 19, 2012 9:30am
Quoting cliffjs
Thanks for your reply, I did take support into account the support was 0.9824 my trade never got to that level. nevertheless the trade is taking a turn for the better so there is still hope.
Happy trading, just keep in mind: double top 9879, double bottom 9832 - might develop into range
  • #2,504
  • Dec 19, 2012 10:01am Dec 19, 2012 10:01am
Quoting cliffjs
Ok Guy's I must say sorry for joining your thread as past experience tells me that I have a fantastic habit of giving any system the kiss of death. I have seen many winning trades posted and very few losers but with me on board I am quite sure that will all change. I know the original system was on the 1h chart but I see people are happy to trade the 4h as well, this fits well with my life/work. so I have started. I posted this trade when I took it on the 17th, it looked to me to be the classic set up bounce off of the 72ema and closed below the...
Hi FX-Pro and others.
I think real issue is you are trying to sell at the demand zone where price repeatedly rebounded.Never sell near support levels.
I am opposite I bought 4 trades same area.
Attached Image (click to enlarge)
Click to Enlarge Name: cad.gif Size: 23 KB
In trading, you have to be defensive and aggressive at the same time
  • #2,505
  • Dec 19, 2012 11:32am Dec 19, 2012 11:32am
who can tell me how to insert a graphic?

thank you in advance

rotten weather Paris
  • #2,506
  • Dec 19, 2012 1:18pm Dec 19, 2012 1:18pm
Quoting Lukes777
Hai folks

first i want thanks to Fx pro for the system
second today iclosed get 150 pip one real account the other real account closed 75 pip
kindly posts charts before entry thanks
i am the lord that giveth thee power to create wealth.
  • #2,507
  • Dec 19, 2012 1:24pm Dec 19, 2012 1:24pm
Quoting Davit
Hi FX-Pro and others.
I think real issue is you are trying to sell at the demand zone where price repeatedly rebounded.Never sell near support levels.
I am opposite I bought 4 trades same area.
i am the lord that giveth thee power to create wealth.
  • #2,508
  • Dec 19, 2012 2:50pm Dec 19, 2012 2:50pm
Quoting stressfreefx
80% winners.......

I'd like to see real proof of that.

Thx
Here is prove of the simplicity of the method: http://www.forexfactory.com/fxretro ... just check my trade explorer. Im using this method. Of course, it depends on each one of us too as traders.
Swing with the tide, Surf with the waves!
  • #2,509
  • Dec 19, 2012 5:11pm Dec 19, 2012 5:11pm
merry christmas traders are we at the peak yet?
Attached Image (click to enlarge)
Click to Enlarge Name: CHFJPYDaily.png Size: 36 KB
i am the lord that giveth thee power to create wealth.
  • #2,510
  • Dec 19, 2012 9:44pm Dec 19, 2012 9:44pm
Quoting fx light
merry christmas traders are we at the peak yet?
Kudos to you!Great Job!
In trading, you have to be defensive and aggressive at the same time
  • #2,511
  • Dec 20, 2012 12:15am Dec 20, 2012 12:15am
Quoting Davit
Hi FX-Pro and others.
I think real issue is you are trying to sell at the demand zone where price repeatedly rebounded.Never sell near support levels.
I am opposite I bought 4 trades same area.
that's interesting and how I used to trade counter trend, but this thread is about taking trades with the trend as they bounce off the 72ema so in effect you faded the system and showed a nice profit - well done. Not too sure how that helps in understanding the system.
  • #2,512
  • Dec 20, 2012 1:00am Dec 20, 2012 1:00am
Quoting cliffjs
that's interesting and how I used to trade counter trend, but this thread is about taking trades with the trend as they bounce off the 72ema so in effect you faded the system and showed a nice profit - well done. Not too sure how that helps in understanding the system.
You are right, Cliffjs, this system is a trend following system using 3 emas. If somebody goes against the trend like Davit, it has nothing to do
with this system. Trading ranges or going against the trend sometimes brings profits, but it is disruptive to advertise it on this thread unless a very thorough explanation including the charts is made why and how it pertains to this system. We all know that during ranges the emas doesn't
work, so we wait for a nice strong bounce candle from ema 72 in the direction of the trend. It happens more often than a countertrend moves.
The only thing that I can add to your entry would be : on H4 chart the trend started December 7th with long strong candle and after 100 pips either a consolidation or a retracement was due.

My channel system shows right now usdcad on H4 chart bouncing from the upper channel down, but 'cause we don't trade channels I do not post it, neither advertise it not to be disruptive here.
Anyways, no system is 100% successful, so this was a trade in the 20 % losses. Keep working, you will recover, I am sure.

Cheers,
Lietuve
  • #2,513
  • Dec 20, 2012 2:31am Dec 20, 2012 2:31am
Quoting Davit
Kudos to you!Great Job!
thank you sir. complements of the season
i am the lord that giveth thee power to create wealth.
  • #2,514
  • Dec 20, 2012 2:35am Dec 20, 2012 2:35am
EURUSD L?

http://img208.imageshack.us/img208/1832/0000069.gif
  • #2,515
  • Dec 20, 2012 2:54am Dec 20, 2012 2:54am
Hi Guys,

I have been lurking around the thread and must congratulate you on how simple and yet and effective the system is. I wanted to ask which one people are finding better the 8MEA PAC or the 12 EMA. I know they won't make a lot if difference but the reason I ask are:
1. I see the potential for the PAC to ascertain FLAT markets and hence saving us a lot of disappointment.
2. 12 EMA seems a bit more conservative and may be yielding better results.
3. MORE IMPORTANTLY: when I did 8EMA High and Low to create the PAC, there is hardly any difference between the two lines. Infact I can't seem to see any on the 1H charts. So, in this context what do you guys think, is it still useful?

Thanks,
K


Quoting FX-Pro
Dear Folks,

Here is an initiative to take this method to the next level,

I took three weeks to test this on the historical data & it works really well, I request all the followers/members/visitors to demo this before entering with your live account (Including me) once when we get used to it we can for a live…

The current 12EMA will be replaced with 8 EMA High & Low, which will give a Price Action Channel

Price above the upper channel – Strong buy…
[color="Red"]Price below the lower channel –...
  • #2,516
  • Dec 20, 2012 2:58am Dec 20, 2012 2:58am
Quoting Q600
EURUSD L?
Im in this one.
Looks like resistance around 1.325-ish but if we break thru its looking good for daily and weekly. Possibly even monthly...
Moved to BE and hope trend is stronger then resistance.
  • #2,517
  • Dec 20, 2012 2:59am Dec 20, 2012 2:59am
Quoting kashTrader
3. MORE IMPORTANTLY: when I did 8EMA High and Low to create the PAC, there is hardly any difference between the two lines. Infact I can't seem to see any on the 1H charts. So, in this context what do you guys think, is it still useful?
Look at my picture above. 1H chart, PAC, EMA72, EMA288 (just to check where is EMA 72 on H4).

Quite clean.
  • #2,518
  • Dec 20, 2012 3:04am Dec 20, 2012 3:04am
Thanks, I realised my mistake. I was doing open close rather than high low

Quoting Q600
Look at my picture above. 1H chart, PAC, EMA72, EMA288 (just to check where is EMA 72 on H4).

Quite clean.
  • #2,519
  • Dec 20, 2012 4:02am Dec 20, 2012 4:02am
Quoting Q600
EURUSD L?

http://img208.imageshack.us/img208/1832/0000069.gif
Good one Q,

Keep the higher time frame in mind before considering a trade, because yesterday's day candle closed as an inverted hammer on the strong resistance zone + 1H TF Created a LL, so we should have expected a bearish move, but it moved north.

Still you did a good job considering a long based on the trend & the reject of the MA.

Keep it up

Season's Greetings
FX-Pro
  • #2,520
  • Dec 20, 2012 4:11am Dec 20, 2012 4:11am
Quoting FX-Pro
Keep the higher time frame in mind before considering a trade, because yesterday's day candle closed as an inverted hammer on the strong resistance zone + 1H TF Created a LL, so we should have expected a bearish move, but it moved north.
YeahIknow

Thats why I closed it after 30 pips.
I always look on higher TFs I learned this from Robert Minner's book. Thats why I use EMA288 H1 instead of EMA72 H4.
I removed 2 more indicators (macd, sts) from higher TF, because for me it's better to focus only on current TF. I think EMA288 its just enough.

Thanks

Time to hunt another trade.
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