A BETTER SIMPLE SYSTEM
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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.
- forexbob
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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
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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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.
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]
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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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]
- TygerKrane
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