Dislikedmarket rhythm aud/usd trade: 14th april, 2016 greetings!!! {image} {image} {image}Ignored
result update on the aud/usd trade today.
Attached Image(s) (click to enlarge)
4 Hour Strategy (MACD)
I am using this 4 Hour strategy only for the last month(Jan2007) as I have papertraded for 2 years trying everything and or system I could find. (I am trading equities for almost 10 years)I have decided that I will only go live(after some losses-not to serious) after I have studied the field of forex and are satisfied that I have a system that works. I do believe that we are trying to make it to impressive and difficult. This system is simple and easy to understand. I have backtested and forward tested it over more than 200 trades and it gives 300+...
This is very strong.
- #29,263
- Apr 17, 2016 2:52pm Apr 17, 2016 2:52pm
Hi Nausting,
Glad to see you still posting, doesn't look like anyone else is these days! Good work keeping the thread going.
As I trade full time and understand this system I will try and post some trade opportunities as I see them and perhaps we can get some more activity back on the thread! It's a great thread.
We can also bounce some ideas off of each other, I see some good potential opportunities this week, here's one of them on the USDCHF, I'd be glad to hear what anyone thinks of any opportunities coming up this week
Lets see how it plays out
Glad to see you still posting, doesn't look like anyone else is these days! Good work keeping the thread going.
As I trade full time and understand this system I will try and post some trade opportunities as I see them and perhaps we can get some more activity back on the thread! It's a great thread.
We can also bounce some ideas off of each other, I see some good potential opportunities this week, here's one of them on the USDCHF, I'd be glad to hear what anyone thinks of any opportunities coming up this week
Lets see how it plays out
Hi Nausting, Glad to see you still posting, doesn't look like anyone else is these days! Good work keeping the thread going. As I trade full time and understand this system I will try and post some trade opportunities as I see them and perhaps we can get some more activity back on the thread! It's a great thread. We can also bounce some ideas off of each other, I see some good potential opportunities this week, here's one of them on the USDCHF, I'd be glad to hear what anyone thinks of any opportunities coming up this week
Wishing you a successful week.
Thanks for you kind words. Thank you also for your great chart and analysis. That behavior of price you have exposed in your chart and anticipation with respect to profit targets are very good places to make pips...glad for your companionship. It is well!
keep in touch.
God bless.
- #29,265
- Apr 18, 2016 3:31am Apr 18, 2016 3:31am
{quote} Good morning brother! Wishing you a successful week. Thanks for you kind words. Thank you also for your great chart and analysis. That behavior of price you have exposed in your chart and anticipation with respect to profit targets are very good places to make pips...glad for your companionship. It is well! keep in touch. God bless.
I always have my trades anticipated in advance, I think many new traders unfortunately open the charts and look for a trade straight away just want to trade, trade and trade some more more. I know this because I did it my self once and then you learn to trade for money, not to trade for the sake of trading.
I'm hoping that by putting up some charts in advance it will give some new traders the opportunity to start anticipating trades as they should be, not just jumping in.
There is a lot of junk on forex factory and what many people don't realise is that this "system" is probably one of the best attempts to lay out how many professional traders actually trade (I don't think many people realise Philip Nel was clearly a pro stock trader before he started this thread!). They don't necessarily use the same indicators, most don't need indicators at all, but they would be trading in a similar way (not exactly as there are a lot of other techniques not included in this thread). It's designed to be easy for new traders to grasp and make money.
I have attached a UsdJpy chart of a trade I took this morning, I couldn't get it up beforehand but it is in its early stages. This trade has to be managed though as it is counter trend and may reverse without going to the final target. As Phil says, "hope is not a strategy", if a trade reverses, you should get out and reverse with it.
- #29,267
- Apr 18, 2016 10:44am Apr 18, 2016 10:44am
EurUsd and UsdChf trades didn't materialise today however quite a few others did, I am looking to add to this GbpJpy trade, looks like a nice opportunity could present itself for anyone not already involved.
4h - Break of 21ema, pullback, move to 89sma
1h - break of 89sma, pullback, move to 365ema
There is a target 2 higher up in the 4h (200sma) but be aware 89sma is all it could do if it pullsback/goes
4h - Break of 21ema, pullback, move to 89sma
1h - break of 89sma, pullback, move to 365ema
There is a target 2 higher up in the 4h (200sma) but be aware 89sma is all it could do if it pullsback/goes
- #29,268
- Apr 19, 2016 2:35am Apr 19, 2016 2:35am
GbpJpy - Update
Trade 2 went without me, closed for +229 at 89sma. Hopefully a few people might have caught it.
Price could be setting up for a counter trend trade back to 21ema in 4h, although it has the potential to break higher
Trade 2 went without me, closed for +229 at 89sma. Hopefully a few people might have caught it.
Price could be setting up for a counter trend trade back to 21ema in 4h, although it has the potential to break higher
- #29,272
- Apr 19, 2016 4:43am Apr 19, 2016 4:43am
{quote} Great! What you said is a reality! It is just the fact...I hope not only the new ones, but those who are as well still struggling with this business comes across your this post, read and digest it properly...thanks for the great insight. WOW! You have as well spotted great trading scenarios from all your many charts and analysis...and I think the way you are doing it is an excellent way to go. The problem or challenge I had from your post is that you tempted me to jump around multiple pairs...your charts and analysis were very interesting,...
It is a good potential opportunity on the AudUsd for a counter trend, I have added a 15 min chart to show what will get me in.
It is a bit late for me, if it goes without me, so be it
You are right, for newer traders there can be a benefit to studying and sticking with a few currencies. I have have done many studies across the various currencies so I have a good feeling of their "personalities". The only risk is when currencies are limited, there is a tendencies to jump into trades or search them out due to impatience. That is where discipline needs to be built with limited currencies in my opinion. But you are right, limiting currencies to begin with can be a sensible choice.
- #29,273
- Apr 19, 2016 5:18am Apr 19, 2016 5:18am
GbpChf Update
Closed out for a total of +204 pips
I have added the 15m chart as well to show how if you know where you are going, enter a trade (trade 2) and the price moves against you, most time it is just giving you a chance to make more money! That is why I added a third position, even though trade 2 was in a loss.
Hope this is helpful
Closed out for a total of +204 pips
I have added the 15m chart as well to show how if you know where you are going, enter a trade (trade 2) and the price moves against you, most time it is just giving you a chance to make more money! That is why I added a third position, even though trade 2 was in a loss.
Hope this is helpful
{quote} Thanks for your kind words and detailed posts
...well said! You know I have been trading for years now, and my perspective of discipline is unique and based upon the many teachings Phillip had given in this thread. Initially I was having problem with my trading, then I decided to de-clutter (removing certain things that seem to make my trading complex). And reducing the currencies that I trade to just few pairs is part of it...VERY IMPORTANT TO NOTE IS THAT I HAVE A MONTHLY TARGET TO MAKE IN FOREX AND THE FEW CURRENCIES I AM FOCUSED ON GIVES ME THAT...AND THAT IS WHY LOGGING INTO ANOTHER CURRENCY IS FOR ME A DISTRACTION AS I DO NOT NEED IT. SO IF I DO THAT FOR THE SAKE OF HOW NICE A CERTAIN PAIR IS BEHAVING, I SIMPLY EXPOSE MY ACCOUNT BEYOND WHAT MY TRADING JOURNAL ALLOWS ME TO...I have been trading this way and doing well with it for years now; if I have to change, it means that I will be doing that on a separate account and a new trading journal has to be established for it...SO THIS IS THE WAY I HAVE SIMPLIFIED MY TRADING.THANK YOU VERY MUCH FOR YOUR COMPANIONSHIP.
KEEP IN TOUCH.
GOD BLESS
- #29,275
- Apr 19, 2016 9:51am Apr 19, 2016 9:51am
{quote}
I don't know if you trade EurGbp, but I have attached a chart of a potential opportunity I see. The 4h rhythm is so simple if people will just keep it is as such and accept it is not an exact science. So if it doesn't fit as you see it once or twice, one can loose confidence because trading inexperience means the brain is desperate to have a system which never fails and tells you exactly what to do and when to do it. Once you realise that you can be right to take a trade and lose money, and wrong to take a trade and make money, you realise profit or loss on a trade IS NOT what determines whether it was right or wrong to execute, but whether or not you stuck to your rules and plan.
Hopefully also it will help anyone thinking "is this system still working?". Just the trades I posted which have closed out were +430 pips since yesterday and the ones that haven't closed are up nearly +200 pips. Plus I have other trades open which I haven't posted which are up a nice amount. If you do the work and have persistence you will learn and make $$$$
Target 1 reached on the EurGbp - may see a bounce here, hopefully will give an opportunity to enter again down to Target 2 at 365ema
- #29,276
- Apr 19, 2016 10:48am Apr 19, 2016 10:48am
GbpAud Counter Trend Potential Opportunity
Counter trend trades (of major trend in this case) are the most risky as there is always the risk of a break out. If that happens I will go with the chart, but 1:3 R:R makes it well worth it for me
Counter trend trades (of major trend in this case) are the most risky as there is always the risk of a break out. If that happens I will go with the chart, but 1:3 R:R makes it well worth it for me
- #29,277
- Apr 19, 2016 11:15am Apr 19, 2016 11:15am
Late Entry I have taken the trade as indicated above...I was not on my computer on time, but for me the move is very nice and is still on. So I decided to take it on. {image}
Looks like your counter trade move could be ready, lets see if it goes this time
GbpChf Update Closed out for a total of +204 pips I have added the 15m chart as well to show how if you know where you are going, enter a trade (trade 2) and the price moves against you, most time it is just giving you a chance to make more money! That is why I added a third position, even though trade 2 was in a loss. Hope this is helpful
I opened this pair (GbpChf) most likely for the first time since my trading career. I like the way the pair is going currently...but I will be closing it now, the spread is high for me, my broker offers currently 59 points for spread. The same for the GbpAud pair...the spread is too much for me. And that is the major reason I reduced the pairs that I am trading. I thank God the ones I am trading are serving me well and with small spreads like, 1 to 3 points at most...
Thanks for your posts. I hope some other traders here will find great use of it.
Regards,
Naustingfx
