Sum 3 Pips before the red news.. the first trade was sell, the others are buy trades. What You mean about the last 2-3 trading days? These are hard days to trade just for me? 
A "new" simple system based on MA
- #1,002
- Feb 19, 2013 6:25pm Feb 19, 2013 6:25pm
- Joined Oct 2012 | Status: Trader | 1,813 Posts
Sum 3 Pips before the red news.. the first trade was sell, the others are buy trades. What You mean about the last 2-3 trading days? These are hard days to trade just for me?
- #1,017
- Mar 13, 2013 9:59am Mar 13, 2013 9:59am
Thank you Bowforex ! My goal was not to show you my nice trade to be congatulated even if I appreciate it ! :-)
This is just to tell you that the method is really strong and if you master it correctly you wont have to take all the signals but only the A+ setups. Here it is a clearly A+ setup because we have a nice trend on the longer TF (1h/Daily and the immediate superior TF 15Mn), and a nice PB on the 5mn TF with EMAs as resistance AND the PP level (convergence). It is an impulsive market so we can optimise the size to get the maximum of profit ! Never forget that only A+ setups will give you 90% of your profit whereas bad signals will give you 80% of your losses. So to reduce risks, please focus on A+ setups.
This is just to tell you that the method is really strong and if you master it correctly you wont have to take all the signals but only the A+ setups. Here it is a clearly A+ setup because we have a nice trend on the longer TF (1h/Daily and the immediate superior TF 15Mn), and a nice PB on the 5mn TF with EMAs as resistance AND the PP level (convergence). It is an impulsive market so we can optimise the size to get the maximum of profit ! Never forget that only A+ setups will give you 90% of your profit whereas bad signals will give you 80% of your losses. So to reduce risks, please focus on A+ setups.
Nice trade!
- #1,019
- Mar 14, 2013 2:18am Mar 14, 2013 2:18am
I dont use Fibbonacci but this could be a good tool to give you S/R. For example, if your retracement is at the EMAs + Overbought Sto + PP which is also a 50% retracement then it gives you much convergence and you can trade safely with a big size position : probabilities are on your side ! BUT be very careful ! The retracement is not always at the 50% (which by the way is NOT a Fib retracement -> Fib are 38.2 and 61.8) : I mean that Fib retracement has to give you convergence with other signals, especially S/R and EMAs. This is a confirmation tool. Dont jump just because it is a Fib retracement level. By the way if you feel comfortable with this tool, you can use it as a convergence/confirmation signal in my opinion. Also you can use it the same way to exit your trade.....think about it
Hi Hmaoui,
Thanks for the detailed explanation. I have a thought I would like your opinion on. Many people on this thread have asked for more specifics on the the entry point once there is a pull back. i have been implementing your system and starting to look at 50% fib pullback as a point , not to enter automatically , but to see how market reacts there. For example, on your trade this AM, the 50% PB on the 5 minute was 1.3037. The market never got there, but by watching, we would know by 11:15 that the market would not hit that with divergence...
