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Simple Money Making Method

  • #2,561
  • Dec 24, 2012 1:08am Dec 24, 2012 1:08am
Quoting FxRetro
The system is also when the price touch ema 72 and go back closing beyond 12 ema.
What is this in reference to?
  • #2,562
  • Dec 24, 2012 1:14am Dec 24, 2012 1:14am
Quoting Silat50
Guys,

ARE WE MISSING TOO MANY TRADES BY BEING SO STRICT ON THE CROSS?

Is it my imagination or what. Ive been going over these 2 moving averages on daily charts for 2 weeks now,backtesting a lot of pairs. It seems to me that this is really a nice system. But it also looks to me that we are losing a lot of good trades(maybe not as great as the one we were given where the 12 has to kiss the 72 and price bars going thru both) because[b] I see many.many profitable trades just from getting in when price kisses the 12 as long as both 12 and...
I think you are right in a few ways. The entries that you describe are indeed valid but, how do you know when to really enter trades if you have 4 different ways to decide in the entries which are just a modification of the other failing. Isn't that being too hopeful? I see your point about not having trades for a long time. What would you rather have, mane trades to do every hour but with a lot of loosers or trade once a few days and then get that right with. Huge RR. I would pick the later, less stress and safer.

Of course when you start playing with any syste, you can customise it to your needs, and it may work well for you. But, for a new bie it may be difficult to switch between all these various options and trying to decide which one to take. So, I think this thread does very well in describing a simple yet effective method for trading.

Having said all this, I think what you have just described are re-entry opportunities for an on going trade and can surely be taken with experience.

Wishing you all the very best.
  • #2,563
  • Dec 24, 2012 2:44am Dec 24, 2012 2:44am
Quoting Silat50
Guys,

ARE WE MISSING TOO MANY TRADES BY BEING SO STRICT ON THE CROSS?

I?


From what I read in your post, I can clearly seen that you've just read the first page of this thread and like all newcomers quickly start to add new things to the system. Brother you must first learn to baby walk, before you can run. So read thread, test the system a few months in the live market (on a demo account), because backtesting doesn't do you any good if you don't live trade and after you get used to it, you can refine your entries and exits.

Happy Holidays!
  • #2,564
  • Dec 24, 2012 11:07am Dec 24, 2012 11:07am
Dollar Vs Polish Zloty! Lets see who goes this one.
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Swing with the tide, Surf with the waves!
  • #2,565
  • Dec 24, 2012 11:26am Dec 24, 2012 11:26am
Correction: "How" not who ... Did someone get to see this one? I was sleeping
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Swing with the tide, Surf with the waves!
  • #2,566
  • Dec 24, 2012 7:56pm Dec 24, 2012 7:56pm
Quoting kashTrader
What is this in reference to?
kASH,


See, retro clarified another entry for me jjust now too. Thanks Retro! But kash, I think what you said makes a lot of sense. You should get into journalism. You have that rare talent of being able to see both sides and also see the pro and con of each. Look at the raging argument we are having just between posters on different threads on news boards and among the NRA and lawmakers about gun control! We need YOU to clarify the issue for both sides. -)

That said, Kash I cant agree with you more. The trades I am talking about start to make this system subjective, possibly too subjective for beginner and intermediate traders. Hopefully with you and RETRO constantly posting here, you guys will keep us all on the right side of the trade. Happy Holidays to all of us, and may all of you remember that, regardless of whether ypou had a productive or a frustrating year trading or with anything in life....celebrate!!!! Because any one of the people who were in the wrong place at the wrong time in Connecticut a little while back would trade places with any one of us. And secondly, CELEBRATE BECAUSE......... The richest and best traders going back to the formation of the first stock exchange in New york in the 1700's never had access to charts and ways to communicate with so many people as we do on these and other boards for the last 15 years. What a great time to be alive! Plus...now we have this system that an angel just dropped into our hands. If that isn't enough to make us all feel good......................then MAKE yourself feel good. We deserve it!
  • #2,567
  • Dec 25, 2012 1:14am Dec 25, 2012 1:14am
Quoting kashTrader
I think you are right in a few ways. The entries that you describe are indeed valid but, how do you know when to really enter trades if you have 4 different ways to decide in the entries which are just a modification of the other failing. Isn't that being too hopeful? I see your point about not having trades for a long time. What would you rather have, mane trades to do every hour but with a lot of loosers or trade once a few days and then get that right with. Huge RR. I would pick the later, less stress and safer.

Of course when you start playing...
Picasso, you are quite right. I am guilty. I almost wish I kept quiet. But since I have spent over 8 years just on FF boards alone, sharing,learning and mostly reading and listening,and am always respectful of the moderator or system starters wishes, I rarely suggest something else...unless the possibility of it being effective can be mind boggling. But this is not my thread. I now go back into listen and learn mode. I never meant to change the subject. I am merely stating I'm no beginner to trading and thought I could be helpful because the wait time between trades is quite high. Its a great system,though!. I apologize to all I have inconvenienced. Kash, PM me if you get a moment.....
  • #2,568
  • Dec 25, 2012 5:11am Dec 25, 2012 5:11am
Quoting Silat50
Picasso, you are quite right. I am guilty. I almost wish I kept quiet. But since I have spent over 8 years just on FF boards alone, sharing,learning and mostly reading and listening,and am always respectful of the moderator or system starters wishes, I rarely suggest something else...unless the possibility of it being effective can be mind boggling. But this is not my thread. I now go back into listen and learn mode. I never meant to change the subject. I am merely stating I'm no beginner to trading and thought I could be helpful because...
Dude,

Today is XMAS. I am not quiet sure how sarcastic the above comment is because you also left me a PM ... Nonetheless in the spirit of XMAS I will take all this in a good way.

You aren't causing inconvenience at all. You brought up a very important point about missing a lot of trades. When I was backtesting my charts I had exactly the same thoughts. But, then when I saw that following this method mostly leads to great RR and good win rates. But, I still had the dilema because I am not a full-time trader and do this part-time, so there is a very high chance of me not being there to take the prefect entry. Hence, I was trying to think of re-entries which may not be as good as the original entry and would still tilt the probabilities in our favour.

I think it would be great if you could post your (four) ideas for re-entry as some sort of a rule to follow with example charts. I have a re-entry in mind which I will hopefully be posting soon.

Thanks,
K
  • #2,569
  • Dec 26, 2012 12:52pm Dec 26, 2012 12:52pm
I couple of lost in Eur and Chf. Im a bit late but, Will the S&P500 continue going down? What do you think?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: S&P 1h.png Size: 38 KB
Click to Enlarge Name: S&P 4h.png Size: 40 KB
Swing with the tide, Surf with the waves!
  • #2,570
  • Dec 26, 2012 12:54pm Dec 26, 2012 12:54pm
I also checked what you were talking about and as long as the 4h 12 ema is in the same direction it is very profitable to take the 12 72 crosses.

Regards,

Quoting Silat50
Guys,

ARE WE MISSING TOO MANY TRADES BY BEING SO STRICT ON THE CROSS?

Is it my imagination or what. Ive been going over these 2 moving averages on daily charts for 2 weeks now,backtesting a lot of pairs. It seems to me that this is really a nice system. But it also looks to me that we are losing a lot of good trades(maybe not as great as the one we were given where the 12 has to kiss the 72 and price bars going thru both) because[b] I see many.many profitable trades just from getting in when price kisses the 12 as long as both 12 and...
  • #2,571
  • Dec 26, 2012 1:27pm Dec 26, 2012 1:27pm
Exotic pairs... The trade on USDPLN at 24 starting to go up. Let's see if reach the targets... Is the USDZAR starting to look long?
Attached Image (click to enlarge)
Click to Enlarge Name: exotics.png Size: 92 KB
Swing with the tide, Surf with the waves!
  • #2,572
  • Dec 26, 2012 7:58pm Dec 26, 2012 7:58pm
Quoting kashTrader
Dude,

Today is XMAS. I am not quiet sure how sarcastic the above comment is because you also left me a PM ... Nonetheless in the spirit of XMAS I will take all this in a good way.

You aren't causing inconvenience at all. You brought up a very important point about missing a lot of trades. When I was backtesting my charts I had exactly the same thoughts. But, then when I saw that following this method mostly leads to great RR and good win rates. But, I still had the dilema because I am not a full-time trader and do this part-time, so there...
No sarcasm at all my friend. You DO have a very analytical mind. I just dont want us to get sidetracked and maybe thats why PMing is best. But yes, you hit it on the head....again. Its that we cant always be at the computer for the perfect entry. In fact what Im experimenting with starting today is if I see I missed the entry and its gone over 100 pips without me, I look to the 4 hour chart and in over 20 pairs, still cant find even close to the perfect entry. But, if on a 4 hr chart it is just breaking over the 12ema by even 3 or 4 bars and my stop is under 40 pips, I grab it!

oK, heres the secret to my success,so far anyway. I check the weekly charts,and boy do they give a view of the market like Ive never seen in my 15 yrs trading because I never paid much attention to them. I think regardless of your time frame, you need to take a look. Anyway, what is over extended on a 60m or 240min or daily can be just breaking out on a weekly. MORE IMPORTANT..........THE WEEKLY LETS YOU KNOW WHERE THE BIG BOYS BAILED. AND ALSO WHERE THE RESISTANCE IS, LIKE DOUBLE BOTTOMS AND SUCH.

My new rule for anything I play now is.....LOOK TO THE WEEKLY FIRST! I wont use the weekly to "take" a trade. I will use the weekly to confirm it or at least not be going against the time frame im using. Yes, and this could be groundbreaking for us. Forget all the "traders wisdom " that keeps us wasting years. And that is the old saw by the "experts" : "When trading, use one time period higher for confirmation and one period lower for entries."

I now say, it doesnt matter if you are trading a 2 minute chart, why not know where the big money is "really" heading long term. It will only show up on the weekly. Will I go contrary to the weekly ,ever? Good question. I could use your help and anyone on this board that wants to help me find out if you HAVE to have the weekly going your way to get the highest annual return in dollars. So for me, the weekly has to be over at least the 12 ema . Hopefully not too far away from it but thats ok if using 1 hr charts. Id prefer both the 72 and 12, but ........
  • #2,573
  • Dec 26, 2012 8:01pm Dec 26, 2012 8:01pm
Quoting FxRetro
Exotic pairs... The trade on USDPLN at 24 starting to go up. Let's see if reach the targets... Is the USDZAR starting to look long?

RETRO,


I dont even get any of the pairs you posted. Never heard of TRY. Im in the US. I thought we would have access to everything anyone else does. Maybe not. Im with FXCM, the biggest Forex broker in the USA. I DONT GET IT. Hmmmmm...........
  • #2,574
  • Dec 26, 2012 8:06pm Dec 26, 2012 8:06pm
Quoting okanemici
I also checked what you were talking about and as long as the 4h 12 ema is in the same direction it is very profitable to take the 12 72 crosses.

Regards,
Thank you Okanecimi. Retro sure gave us a durable system. I hope next Christmas some of us can fly Retro to the US and we can have a "12-72" get together party. Lets make that a goal. Because to do that this system must be very profitable, not just 40 or 50 pips a month. Im living on my last bit of savings now but to meet good people...especially traders who help to get you back on your feet financially again, what is better than that!!!!!? NEXT CHRISTMAS!
  • #2,575
  • Dec 27, 2012 12:47am Dec 27, 2012 12:47am
Hello all,

I don't know if any of you got this trade, but it was clear as crystal. The price made a little pullback, then it bounce off the RN and 200 EMA. The second chart is for visual aid. I didn't took it because it was Christmas Eve and I had other plans
Once again, the Forex Giant never sleeps.

Cheers!
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  • #2,576
  • Dec 28, 2012 6:44pm Dec 28, 2012 6:44pm
Quoting Silat50
RETRO,


I don't even get any of the pairs you posted. Never heard of TRY. Im in the US. I thought we would have access to everything anyone else does. Maybe not. Im with FXCM, the biggest Forex broker in the USA. I DONT GET IT. Hmmmmm...........
That is a demo siltat, it is forex.com in UK.. I have micro with fxcm too and they give me those exotic pairs. Im in US too. Maybe the standar account doesn't have it. The brokers in US offer less assets than those in UK.

Off topic: S&P 500 continue its down rally.
Attached Image (click to enlarge)
Click to Enlarge Name: S&P.png Size: 50 KB
Swing with the tide, Surf with the waves!
  • #2,577
  • Dec 29, 2012 6:06pm Dec 29, 2012 6:06pm
Quoting FxRetro
That is a demo siltat, it is forex.com in UK.. I have micro with fxcm too and they give me those exotic pairs. Im in US too. Maybe the standar account doesn't have it. The brokers in US offer less assets than those in UK.

Off topic: S&P 500 continue its down rally.
Retro, this s&p chart is very interesting and has been making me think if the real money and of course diversification is not with playing the US markets and maybe gold with this system. This way when forex volume dries up one month, we'd have 2 other markets to use and im sure it works just as well on others, especially gold, yes?

I also am noticing that using this system on the 4hr chart doenst seem to give me a greater profit rhan 1hr. Just a greater risk. That would be impossible. Yet, you seem to only play the 1 hr. Am I answering my own question?
  • #2,578
  • Dec 29, 2012 10:07pm Dec 29, 2012 10:07pm
Quoting Silat50
Retro, this s&p chart is very interesting and has been making me think if the real money and of course diversification is not with playing the US markets and maybe gold with this system. This way when forex volume dries up one month, we'd have 2 other markets to use and im sure it works just as well on others, especially gold, yes?

I also am noticing that using this system on the 4hr chart doenst seem to give me a greater profit rhan 1hr. Just a greater risk. That would be impossible. Yet, you seem to only play the 1 hr. Am I answering my own question?...
Silat, let me tell you that the system has nothing to do. For sure that longer the timeframe higher the risk. If you want to use longer timeframes to trade, you must look the timing in smaller timeframes. Im letting you 2 different ways that you can use to look for a better timing for any trade, any market (forex, stocks, commodities, EFT, Index, etc), any timframes. The first one is Double Chart, the other is Triple Chart. I use the 1h chart to look a better timing (moment) to enter or exit a trade.

Another thing, if you have not trade real money yet, you can star risking real money but with very small lots. This way you begin to lose the fear of "LOSING REAL MONEY". When you trade real money but in small amounts, you develop the confidence you need in the real environment. For example: in MT4 0.01 lot =$0.10 per pip. If you decide that the stop is 50 pips, you are risking $5.00 only. Focus on the amount of pips you want to lose or win, not in the amount of money. The broker you said fxcm use micro lots. Begin with $50.00 to learn and practice with real money. The doctors learn medicing in hospitals with people, the mechanic in the garage with cars, the lawyer in the court with real cases, the police officer on the street with criminals... the trader learn to trade and lose the fear with real money.
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Click to Enlarge Name: Triple chart.png Size: 69 KB
Swing with the tide, Surf with the waves!
  • #2,579
  • Dec 29, 2012 10:11pm Dec 29, 2012 10:11pm
Quoting Silat50
Retro, this s&p chart is very interesting and has been making me think if the real money and of course diversification is not with playing the US markets and maybe gold with this system. This way when forex volume dries up one month, we'd have 2 other markets to use and im sure it works just as well on others, especially gold, yes?

I also am noticing that using this system on the 4hr chart doenst seem to give me a greater profit rhan 1hr. Just a greater risk. That would be impossible. Yet, you seem to only play the 1 hr. Am I answering my own question?...
You can look more entries this way if the trend continue.
Swing with the tide, Surf with the waves!
  • #2,580
  • Dec 29, 2012 10:27pm Dec 29, 2012 10:27pm
Quoting Silat50
Retro, this s&p chart is very interesting and has been making me think if the real money and of course diversification is not with playing the US markets and maybe gold with this system. This way when forex volume dries up one month, we'd have 2 other markets to use and im sure it works just as well on others, especially gold, yes?

I also am noticing that using this system on the 4hr chart doenst seem to give me a greater profit rhan 1hr. Just a greater risk. That would be impossible. Yet, you seem to only play the 1 hr. Am I answering my own question?...
Here is the same example with the S&P. Notice the entry short and the stop where are placed. I couldn't move the stop to breakeven because the markets were close.
Swing with the tide, Surf with the waves!
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