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The perfect trading system

  • #1,021
  • Mar 11, 2013 9:22am Mar 11, 2013 9:22am
Mr. Chia,

What I wrote was

"I have noticed the first sign of the end of a the current cycle for both pairs and I have already have my "line in the sand' similar to the one in June last year. The close of this month's candle will confirm the top for both pairs"

138-142.50. On the other hand the monthly and weekly consolidation for EURJPY is between 118-128."

The close of this month's candle will confirm this first signal I saw. A breakout within the consolidation range is a further where the market is going. The most important information however is that I have establish about 1000 pips consolidation range each for GBPJPY and EURJPY between 138-148 and 118-128. A break above the 148 and 128 is a continuation of the bullish run and a break below 138 and 118 confirms the change in trend. In essence, I established a 1000 pips concrete zone for both pairs and what I need to do is to follow one weekly candle at a time. Read how I trade concrete zone to understand my mindset in this scenario.

If you establish a range (concrete zone) and trade in the direction of the weekly candle, you will be on the right side of the market 99% of the time.

This is how to look at the market.


Quoting Mr.chia
Articulate, GBPJPY and EURJPY I agree will go down, in my opinion, and chfjpy cadjpy will also go down, and for NZDJPY and AUDJPY, I'm still waiting for one piece weekly candle if it wants to make sure he was down,what do you think?tq Jesus is the LOrd
  • #1,022
  • Mar 11, 2013 9:35am Mar 11, 2013 9:35am
don555,

I have watched with keen interest the debate between you and Mr.chia on stop loss and I thought I should intervene to clear the air. My view on stop loss is that you should not risk more than 2% of your account on a trade. The pips will depend on the lot size you trade. Secondly, I believe if you trade in the direction of the weekly candle a trade can never go against you by as much as 200 pips. Where this happen, you don't have any business staying in such a trade.

Having said above, you should understanding that trading is personal. Therefore, you free to pick what is best for you on this thread and adapt it for your use. Mr.chia is there free to choose between 200-500 pips stop provided, he understanding what he is doing and its work for him.

I hope my intervention clarifies the matter for you and other following this debate.



Quoting Mr.chia
don555, yes, stop loss 200-500pips, sl is too close too risky, use stoploss 500pips better without stop loss, and if the trend changes we still have the possibility of cut loss, less than 2% and plug the opposite position, I will give an example if later I use a stop loss 500pips, I tried to put it in a safe stop losses or put in place which definitely hit that, so no loss to 2% . if you sell short and use a stop loss 50-200pips you must put take profit and risk taking max 2%, I agree with articulate about it, I recommend a stop loss 200pips after...
  • #1,023
  • Mar 12, 2013 3:14am Mar 12, 2013 3:14am
Interesting thread.

Articulate, do you trade live every day?
The Black Swan: The Impact of the Highly Improbable
  • #1,024
  • Edited 5:15am Mar 12, 2013 4:52am | Edited 5:15am
MapleLeaf,

Yes, I have multiple live accounts. Some are my own and some I am managing for others. I am always closing and entering trades on regular basis depending on when each trade matures.



Quoting MapleLeaf
Interesting thread.

Articulate, do you trade live every day?
  • #1,025
  • Mar 12, 2013 5:44am Mar 12, 2013 5:44am
Quoting MapleLeaf
Interesting thread.

Articulate, do you trade live every day?
I trade live every week... depending on the system you
are using.
For longer time frame traders like me....3-5 trades each week
lasting between one and three days.
  • #1,026
  • Mar 13, 2013 9:51pm Mar 13, 2013 9:51pm
Quoting Articulate
don555,

I have watched with keen interest the debate between you and Mr.chia on stop loss and I thought I should intervene to clear the air. My view on stop loss is that you should not risk more than 2% of your account on a trade. The pips will depend on the lot size you trade. Secondly, I believe if you trade in the direction of the weekly candle a trade can never go against you by as much as 200 pips. Where this happen, you don't have any business staying in such a trade.

Having said above, you should understanding that trading is personal....
  • #1,027
  • Mar 14, 2013 6:03am Mar 14, 2013 6:03am
Hi ,Articulate!How are you
I m newbe in forex market!Im verry glass to read this thread!
Thank for your share!
Hope to read more from you!
Every thing good for u!
  • #1,028
  • Edited 4:08am Mar 15, 2013 3:58am | Edited 4:08am
MONTHLY UPDATES NZDUSD and NZDJPY

I was not able to post the monthly updates for other pairs early in the month due to some other engagements. I thought I should post them now since the principles of fundamental and technical factor do not change.

NZDUSD has been trapped between 0.8000 and 0.8500 since July 2012. 80.00 level was the barrier to the bull for NZDJPY. The weekly candle has been consolidating between 75.00 and 80.00 for some weeks now. You can read my posts on how to trade concrete for guidance on how to trade this set-up

Here are the updates for monthly and weekly charts for NZDUSD and NZDJPY.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: march nzdusd - monthly.gif Size: 17 KB
Click to Enlarge Name: march nzdusd - weekly.gif Size: 18 KB
Click to Enlarge Name: march nzdjpy - monthly.gif Size: 10 KB
Click to Enlarge Name: march nzdjpy - weekly.gif Size: 13 KB
  • #1,029
  • Edited 4:19am Mar 15, 2013 4:00am | Edited 4:19am
MONTHLY UPDATES EURCAD and CADJPY


The bullish run of EURCAD was temporarily halted at around 1.3700. The weekly candles are currently consolidating between 1.3300 and 1.3700 for about six weeks, which is another concrete zone. CADJPY like other yen pairs is other trapped between 90.00 and 95.00 price levels. The weekly consolidation level is between 87.00 and 95 level (700 pips concrete zone).

You can read my posts on how to trade concrete for guidance on how to trade this set-up

Here are the updates for monthly and weekly charts for EURCAD and CADJPY
Attached Image(s) (click to enlarge)
Click to Enlarge Name: march eurcad - monthly.gif Size: 16 KB
Click to Enlarge Name: march eurcad - weekly.gif Size: 17 KB
Click to Enlarge Name: march cadjpy - monthly.gif Size: 15 KB
Click to Enlarge Name: march cadjpy - weekly.gif Size: 16 KB
  • #1,030
  • Mar 15, 2013 10:01am Mar 15, 2013 10:01am
hello , articulate, it looks like if we see a good month to trade is april and June, there is an inverting weekly GBPUSD if Friday's candle closed above 1.5033, if the plus two weekly candle, then it will be clearer to buy, and the third weekly candle from now is the first weekly april, and I noticed there are some currencies that already available for sale/buy while some were still waiting for confirmation again 4-8 weekly candle .. JESUS ​​is the Lord, May Jesus Bless You all
  • #1,031
  • Mar 18, 2013 1:40pm Mar 18, 2013 1:40pm
chip_8088

I am doing very well. You are welcome to my thread. A quick advise I will give is that successful trading is based on very sound knowledge. If you are able to do this, the sky is your limit. Afterall, I was once a newbie like you and most importantly, learning is a continuous process. A man is dead the moment he stops learning.

I wish you the best!


Quoting chip_8088
Hi ,Articulate!How are you
I m newbe in forex market!Im verry glass to read this thread!
Thank for your share!
Hope to read more from you!
Every thing good for u!
  • #1,032
  • Mar 18, 2013 5:42pm Mar 18, 2013 5:42pm
Quoting Articulate
chip_8088

I am doing very well. You are welcome to my thread. A quick advise I will give is that successful trading is based on very sound knowledge. If you are able to do this, the sky is your limit. Afterall, I was once a newbie like you and most importantly, learning is a continuous process. A man is dead the moment he stops learning.

I wish you the best!
Well said!

Good day Articulate!

I too am a newbie in the forex universe and I am just learning and digesting your methodology! Out of all the various "systems" out there, I find that yours fit best to my style. Your idea of the mastercharts are brilliant and your philosophy of a "bird's eye" view first then drill down to the "puppy's view" really makes a lot of sense to better understand what the market is doing.

I am working full time, so using your mid-long term strategies will suit my purpose. I am not sure if I will have the opportunity to trade in the short-term and day trading is definitely out of the question as I won't have access to the market until 5:00 p.m. EDT.

Right now I am learning on a demo account and don't plan to go live for at least 3 months to get a better grips of how to apply you trading philosophy.

I just want to say "Thanks" for your dedication to this thread and I hope that I can use your method with ease and confidence as everyone on this thread.

I wish you all the best will be in contact when I have any questions.
  • #1,033
  • Mar 18, 2013 10:24pm Mar 18, 2013 10:24pm
gbpusd, down 1500pips, after 1 weekly reverse(black candle), i put my buy limit 1.4900 with stoploss 200pips, just 1,2% risk, i will add position again if this week candle can't broken 1.4900.May God Bless You all.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd1.PNG Size: 208 KB
  • #1,034
  • Edited 3:57am Mar 19, 2013 2:46am | Edited 3:57am
Mr chia,

Your chart is brilliant. As far as I am concerned the area marked red (concrete zone) is the place to watch. There is nothing like the weekly candles!

Have a great day!




Quoting Mr.chia
gbpusd, down 1500pips, after 1 weekly reverse(black candle), i put my buy limit 1.4900 with stoploss 200pips, just 1,2% risk, i will add position again if this week candle can't broken 1.4900.May God Bless You all.
Attached Image (click to enlarge)
Click to Enlarge Name: Mr. Chia.jpg Size: 175 KB
  • #1,035
  • Mar 19, 2013 3:46am Mar 19, 2013 3:46am
Articulate, thank you, I learned a lot from you,
  • #1,036
  • Mar 19, 2013 10:41am Mar 19, 2013 10:41am
patience is essential for long-term trader, I am still waiting for 1-2 weeks to see EURJPY dropped.May God Bless You
Attached Image (click to enlarge)
Click to Enlarge Name: ej.PNG Size: 167 KB
  • #1,037
  • Mar 19, 2013 11:19am Mar 19, 2013 11:19am
Quoting Articulate
MONTHLY UPDATE: GBPUSD

GBPUSD finally broke 1.5300 for the first time since 2010 and it appears to heading towards 1.4800. However, 1.500 is the barrier for now. GBPUSD is a pair that reward shorts if taken at the right level because 3-7 months of bullish run is usually reversed by 1 month of bearish reversal.

Study a pair carefully and take advantage of its PA.

Is trading an Art or a Science?

I often ask the above question to draw attention to the fact that successful trading is not about emotions, gut feelings, hunches, expectations, etc(Art), but careful planning, theories, sound principles, clearly defined patterns, (Science). The truth of the matter is that emotional players do not last long.

Everything in FX is carefully planned by the big players. FX charts may appears chaotic to the uninformed, but it is definitely an organised and deliberate chaos. Take this simple advise from me, you cannot be successful in the long run until you become a Mechanical Trader (Trading without emotion).

Look at the weekly and monthly charts below and see where they were was when I posted on March 7 and where they are today as the time of writing. Was the kiss of 1.4800 accidental or pre-planned? Your guess is a good as mine! Understand the Masterchart and the Weekly candles and you will never be taken for a ride by the big players.

Enjoy the rest of your day!




Attached Thumbnails http://www.forexfactory.com/attachme...1&d=1362678985 http://www.forexfactory.com/attachme...1&d=1362678985
Attached Image(s) (click to enlarge)
Click to Enlarge Name: march gbpusd march 19 - monthly.gif Size: 22 KB
Click to Enlarge Name: march gbpusd march 19 - weekly.gif Size: 18 KB
  • #1,038
  • Mar 19, 2013 6:29pm Mar 19, 2013 6:29pm
Tested on forty platforms with a solid sample including ECNs and thousands of live trades all timeframes. In demo, best seen in 1m or 5m to save time but occurs all timeframes, bid-ask lines (BA) visible, for example, Buy, when BA reverses, close position and Sell, when BA reverses, close and Buy, and chasing on and on. The science of risk is right here with even the best of systems. What are you going to do if BA won't cross the order line or stalls around or reverses except for a weak advantage of stoploss. Here's another one, for example, place the mouse on Buy button and watch tick behavior, it usually freezes, reverses, and changes color next bar. It is likely reading the platform MouseOnBuyButton() or variation before ClickMouseOnBuyButton. And all markets move together correlated as seen on FreeStockCharts with setting comparisons of any two or three things, stocks, futures, forex, indexes, options, funds, brokers, accounts, platforms, systems, everything. Even precious metals are not perfectly inverse, room for manipulation. That's why I sparingly trade one penny (.01) with a minimal account and try to grow it to two pennys, then three with very small losses. This is best for most traders because it develops all the good qualities.
  • #1,039
  • Mar 19, 2013 7:07pm Mar 19, 2013 7:07pm
That's how I started... I opened a $100 account and traded 1 penny per pip until I felt confident then moved up to 5 cents per pip.
  • #1,040
  • Mar 20, 2013 1:52am Mar 20, 2013 1:52am
Always Hedge, not to put all egg in 1 basket.

E.g buy EUR/USD is a risk trade

You should long USD in balance against some other than EURO , which you think will fall in value against USD.

Leverage: 50-100
Stop Loss: 20-30 Pips play

Using Pivot Points, Ichimoku
Trading is something special.
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