A BETTER SIMPLE SYSTEM

trading strategies and money management discussion, code, results

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vladv
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Postby vladv » Sat Oct 02, 2010 2:23 pm

Anybody still trading this simple system? Because I have some questions to ask.....

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csbueno
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Postby csbueno » Thu Oct 14, 2010 1:42 am

vladv wrote:Anybody still trading this simple system? Because I have some questions to ask.....


I still trade in a similar way, but with way less indicators (just 1)

If you are interested, PM me


Regards

Carlos

EDIT:


I post a brief explanation of my favorite method below
Last edited by csbueno on Thu Oct 14, 2010 8:00 pm, edited 1 time in total.

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forexbob
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Postby forexbob » Thu Oct 14, 2010 11:25 am

hi carlos,

b4 we all start mailing you, maybe you can share in the forum how the method for you evolved.
which indi you kept ...

regards,

bob
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csbueno
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Postby csbueno » Thu Oct 14, 2010 7:56 pm

forexbob wrote:hi carlos,

b4 we all start mailing you, maybe you can share in the forum how the method for you evolved.
which indi you kept ...

regards,

bob



I guess You are right, I made a small document that Ive been emailing,

I better post it here.

Only a Fibonacci indicator is needed


Regards

Carlos
Last edited by csbueno on Thu Oct 14, 2010 8:14 pm, edited 1 time in total.

csbueno
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Postby csbueno » Thu Oct 14, 2010 8:05 pm

have 3 ways to trade; 2 of them I learned from 2 very reliable and profitable traders, the other was just a logical conclusion from 1 of those methods.

The first one ( and my favorite)is known as a bear trap or bull trap depending on the price bias . I only use GBPUSD and EURUSD.
I quote:
... many of these explosive moves
occur as the result of false breaks of support and/or resistance.
It seems that for a market to make a large move in a
given direction, a significant number of traders must be
incorrectly positioned...


So, what I do is to wait for a breakout of the highest or lowest level created during the Asia sessión, and when price starts to retrace to about 38%, I set a pending order at the 61.8 % retracement level , set the sl few pips above the origin(0%) and 2 tp: 1 at the 100% level and another at the 126% level.

If the orders is not triggered by 11:00 gmt, I cancel the order.

I usually set sl to BE when Im about to reach the first tp.

[img][img]http://i54.tinypic.com/2vb06sj.gif[/img][/img]

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forexbob
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Postby forexbob » Thu Oct 14, 2010 8:52 pm

thanks for sharing carlos.
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newschool
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Postby newschool » Fri Oct 15, 2010 8:35 am

Listen to csbueno... this is golden... all you need now is proper money management

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gfg1
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Postby gfg1 » Fri Oct 15, 2010 1:18 pm

cs, thanks for the description. What is the indi you use for the session timer?

csbueno wrote:have 3 ways to trade; 2 of them I learned from 2 very reliable and profitable traders, the other was just a logical conclusion from 1 of those methods.

The first one ( and my favorite)is known as a bear trap or bull trap depending on the price bias . I only use GBPUSD and EURUSD.
I quote:
... many of these explosive moves
occur as the result of false breaks of support and/or resistance.
It seems that for a market to make a large move in a
given direction, a significant number of traders must be
incorrectly positioned...


So, what I do is to wait for a breakout of the highest or lowest level created during the Asia sessión, and when price starts to retrace to about 38%, I set a pending order at the 61.8 % retracement level , set the sl few pips above the origin(0%) and 2 tp: 1 at the 100% level and another at the 126% level.

If the orders is not triggered by 11:00 gmt, I cancel the order.

I usually set sl to BE when Im about to reach the first tp.

[img][img]http://i54.tinypic.com/2vb06sj.gif[/img][/img]

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TygerKrane
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Postby TygerKrane » Sun Oct 17, 2010 11:07 am

Thanks for sharing csbueno, definitely simple!

**Krane catches Tyger** !>I'm here to chew bubble gum and make major pips...and I'm all out of bubble gum.<!

frang0nve
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Postby frang0nve » Sun Jun 26, 2011 5:07 am

Thanks Carlos, fast and sweet.



Cheers

Francisco

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