Damon's meat in the middle system

Okay, the new indicator from FerruFx has been uploaded to the first page, along with the the new template which has it attached. As you can see, I am still testing things here a bit, and am working on a few different strategies for whether the market is trending or ranging. There is some work to do here yet, and just because you have a nice new indicator, it is not the holy grail unless you turn it into the holy grail for you. Jumping back and forth is definitely not that answer. That much I do know!

This is not just because you get an arrow or an alert system, that you should take it. Just as, just because you have a hammer, everything is not a nail. This tool is only meant to make your trading a bit easier, and alert you when to come to your chart, as something might be happening. You should still use your own common sense and market skills when entering any trade. Right!

Enjoy, and thank FerruFx, as this one was on the house.

Thank you FerruFx

The first thing I have done is to separate a my trending profile from my ranging profile. Next, it is actually separating the charts, and time frames, to keep each profile as simple as possible, yet with the right stuff in it so that it will show me what I want it to show me.

Wow.... Have I learned a lot again today. Not only was the way I was trading this system not correct for the current market conditions, but it was also not right for me in my current life style. As such, I really had to change this around into something that was first and foremost... better for my lifestyle.

How I am going to play this now is 2 ways.

1- Trading the 1hr bar off support and resistance areas. These are very easy for me to spot without even having to add more lines to my chart. Also, the channel indicator and the two super trend indicators offer great support and resistance lines to play the 1hr candlesticks from.

2- I am going to do a form of a scalp, which I can do off of any bar from the lines of the super trend indicators. When a line is blue, and a candlestick hits it, there is likely a rebound upwards for a nice scalp. You should check it out, it looks like a really nice way to trade.

Once again, I have found a way to adapt and change using the same indicators that I am use to. I think that is very important in trading, as finding the rhythm of the market is hard enough and even harder if one bounces around, never settling down to master something.

I will do my best to post charts and things of my trades as I go along, and I believe that these changes will help me regain my many lost pips over time.

Last night was a nice night for trading. My new concept for trading this system had me closing in profit last night and eating away that the deficit. It was a good feeling. I should have had more profit had I not fallen asleep and gave some back, but that is not the point. The point is that I was on the right side of just about every trade, and that is a peaceful easy feeling.

Getting in sync with the motion of the market is hard enough, but keeping in sync with it takes constant work. Hopefully now, I have regained my swing with the market, and this system will become second nature, easy peasy!

Make it a wonderful day!

Here is one picture of a trade I made recently. There have been others, but I am not going to list them all. I have taken 4% back from the market since rethinking how I was trading this, and I have been on the winning side of the trade in nearly every situation. I will be taking more from the market in the up and coming weeks.

You may remember reading that I decided to take a break from trading when I felt like I knew that I was inches from success because I needed a break and thought that it was the right moment for me to do so. I had not even opened a chart or looked at a candlestick for close to two years. I knew that I would struggle a bit when I came back which was only a few month ago. And I worked hard at it, but I think I found the synergy with the market that I had just got into when I decided to put my charts away a while ago.

Now, with the continued help of FerruFX, I was able to find that synergy with the market again, which includes being on the right sides of trades, and not having to computer watch all day. I am excited for my future in FOREX, as I was when I put my charts away.

Enjoy the chart, and the system.. it is a real winning one to spend quality time with!

Good Morning:

Well, lots happened after I went to bed.

1) my gbpnzd trade took a margin call

2) my gbpusd trade hit t/p

3) my eurcad, gbpcad, and gbpjpy trades all came back to hit my stops which I had moved just above b/e

4) my euyjpy trade came back down and is bouncing off the entry area with what appears to me as signs that it is heading back up, so I went down to the 30m t/f for all three indicators to unite and added a few more positions

The market is definitely very volatile right now, but this system is getting us on the right side of the trades to begin with, so that a person can go to b/e+ in case of a quick return. It is only a matter of time, and the more I stick with using these same indicators, the more I get to know them, notice how price reacts around them, and can then even find trading opportunities that the arrows miss.

No charts this morning. Just a recap. I am sure that I will have some next week.

I was just thinking that today was NFP.... if I had a brain and remembered that, I would have taken profit when I went to bed. Of course price was not going to go anywhere before that announcement.

So, just like it is important to get used to the indicators and system that you are using, I think it is important to get used to the pairs that you are trading. This at the moment I think is my current shortfall that I need to overcome. I think that I trade too many pairs, and this is going to be hard to overcome, as I like to trade a lot of pairs. I used to try to trade them all.. lol. So, at least I have come a long way in eliminating many that I trade.

Currently I trade 10 pairs. The thing is that they are all the same except 5 start with EUR, and the other 5 start with GBP. So, in a sense, I am overlapping trades if I have entries on both EurNzd and GbpNzd. Of course they are not completely in sync, but they usually at least go in the same direction, except sometimes they don't.

I would say that the pound pairs are just a tad more volatile than the euro pairs. Is there anyone that disagrees with that? If so, please post your argument as I would love to read and understand what your thoughts are.

I just feel that I am missing more than I am gaining by trading so many pairs. As such, I think that I should drop either the euro or the pound based prefixed pairs that I am currently trading. There are so many ways to use this system besides just waiting for an arrow, and with so many, I just don't know where to start sometimes when I open up my charts.

This is going to be a hard decision as I seem to like to hold on to pairs, but I will become a better trader if I get rid of half of them to start with and go from there.

If anyone would like to cast a vote as to whether I should keep the EUR or the GBP pairs, please cast it. You do not even have to post why you think I should go one way or the other if you don't want to.

I guess my brain has its work cut out for me this weekend. I wonder if decisions would be easier if I was able to access more than the 10% of my brain I currently use? Well, maybe someday!

Thanks bunches, and make it a great weekend!

It is a nice end to the month. I am up 1% for the month, and I have taken back just under 8% of what the market took from me last month. I am already excited for next week, and am even more excited for the weekend when I can turn my charts off. That is such an important part of my trading. I am sure that I will be around a little bit this weekend and I will most certainly get into posting a few more posts next week with charts for your visual reference to my trades and the system.

I think that I have to narrow down the number of pairs I trade. Right now I trade 5-euro pairs, and 5 pound pairs. I started a 3 day poll in order to get your input as to whether I should keep the 5 pound pairs or the 5 euro pairs.

This is a hard decision for me as I want to trade all ten pairs, but alas, I do not think that is the best idea with this system and the number of things I can do with my indicators. It is likely that I will have to narrow down even farther, but one step at a time.

If you read this.. please answer the question. I would appreciate your thoughts! You can answer the poll on the first page of this thread.

More good things coming with this system!

I have updated the 1st post with the newest version of the indicator and the newest template that I have been testing all week and have been very pleased with. Please read completely and thoroughly the 1st post again, and again, until everything is clear to you. I am here to answer any questions.

Also, if you do not mind giving me your opinion in my poll, that would be great!

Make it a great weekend, and I am looking forward already to seeing my charts in action next week!

I have made a few more small updates to the first page after sleeping on what I wrote last night. You should check it out and read about the improvements that we have made to indicator and system.

While you are there, why not have a good time answering my poll which can be accessed from the first post? I am trading too many pairs I think and am trying to decide if I should drop the euro or pound pairs. Which pairs do you think I should keep? It will be a tough decision for me, as I really want to keep them all, but I don't think it is good for my trading to do so.

Won't you help me out?

Thanks to those who have already answered the poll. Much obliged!

Thanks bunches, and make it a great weekend!
Damon

We have agreed on some new items that are coming to the new version of the indicator that is going to make it more versatile to everyone's individual taste, and trading preference. Once I am able to upload the new template with indicator instructions, I can start to post about the different ways a person can trade this system, and how some features are able to be personalized to individual trading styles. There are going to be many different ways in which to use the template for a few different kinds of trades which can be not only verified on the same t/f, but also taking trades using two t/f's when taken off an area of s/r on a higher t/f.

There is more to come. The nuts and bolts of this system have all been installed, and it is not just a matter of making sure that each nut is given the proper torque. Eventually, in the not too distant future, we will finally have uploaded the final version. In the meantime, please bear with us, if we find ways to make it better after we decide to upload what will get everyone else caught up with us!

A new template and version of the main indicator coming soon. In the meantime, their is nothing wrong with the version that you have, so have fun with it on a demo account until you are comfortable.

Hi! I trading two years on FXCM too... Day trading. Near scalping.
Good trades!

Hey there:

Welcome to Forex Factory! Thanks for stopping by to share a little about your self. There is something for everyone here at FF. If you already know what you are doing, there is the Interactive Trading section, where you can interact with others, specific to the pair/pairs that you trade. It can be very useful. I hope to eventually get back there myself, but right now, I a focused strictly on launching this system. Once it is complete to the way we want it, I am sure that I will be back there again to get the live trading ideas of others.

If you are still looking around for a way to trade consistently, there is the Trading Systems thread, where there are lots of different trading ideas that people have put together and shared with others. Most everyone is also really great with support issues when it comes to answering questions as well. It is just a matter of finding something that is right for you, and sticking with it.

We have a few new things that we will be introducing in the next version of our main indicator that is going to make this system a match for many different types of people, and then, I think that I will be ready to go into so detailed explanations with charts on ways that this system can be traded. I know that I am very excited for my future in FOREX due to what we have put together here. Maybe you will even find that this system is right for you.

If you need anything, or have any questions, please don't be afraid to shoot them my way, and have a great week trading!

Damon!
If you can, please explain briefly what is the essence of your trading system?

Hey there:

I really do appreciate your question, and right now I am really going to keep it short. The reason being, is that very soon, as soon as we get the indicator to where we want it, I am going to go into very great detail on the many ways that one can trade this system. For now I am going to say that one can learn how to trade wave/momentum trades, reversal trades, flag trades, 2 tf trades, and I am sure some scalping, though I am not much of a scalper myself, however, in a way, some of our trades could be considered of the scalping nature, depending on ones own definition of scalp trading.

There will be plenty more to come as soon as we are comfortable with the indicator.

Thanks bunches, and happy trading!

The poll is going to end today at some point. If you haven't yet voted, and would like to get your thoughts out there is to whether I should just trade the euro or pound pairs going forward from here, well I sure would appreciate it!. Knowing your ideas as to what you think whether it is best to trade the euro or the pound pairs would mean a lot to me, or I would not have asked.

Thanks to those who have already taken the time to vote! You can add your opinion poll on the first page.

I can not take part in your survey. In my opinion you need to trade the pair with the best (spread * volatility) / (price * price).
Yuriy

No worries.. That is the scalper in you, and something that, thank goodness, we don't have to worry about in the least with this system. Even with scalping it is all about the entry. But, once one learns how to properly enter, scalping is no longer necessary, because one has put themselves in the right position to be successful, and take many pips while maybe even using a scalpers s/l.

Finding the proper entry is one of the things that this system helps one do, and which I will be going into once everything is done and in place.

What do you do right now to determine when or where to enter?

Alright, I had a little bit of time and so I thought that I would post a chart. This is kind of an a-typical way to use the system. None the less, our method of reading the charts made it quite easy to make out this type of chart formation, as there is not too much clutter, but enough to group things together.

You can see I placed 2 eclipses on the chart. One, on the left which for a while held resistance, and then support. The one on the left shows the trade coming back down into that support area again. Now, we did not get an arrow here, but what I did was wait until all three indicators were blue on the 1hr candlestick, and I entered long. The safer trade would have been for me to wait until all indicators lined up, and all three closed in the blue or long position. I however decided to take the early entry. One could have also moved down to the 30m chart and done the same thing, or moved down to the 15m chart, and waited say for a higher and higher wave pattern to form before entering.

Not a 100% for sure trade, but a fairly safe entry in my eyes.



Many more charts like this on how to use the system and the indicators will be coming as soon as the indicator is finished the way that we want it. I will have more time than to educate you on the system, and how to use it to make safe and profitable trades. I hope I have made sense to you of all this!