Hello every1 ;)
In this post I'll talk a little about the stop loss on this trading system.
Actually this TS mustn't have Take Profits or Stop Losses at all, but everyone wants to have a nice sleeping night, is all we gotta do is choose the correct level for the Stop Loss so u don't get ass kicked.
Every pair has it's specific daily range, that must be considered; if a pair goes further it's normal range it's a market revolution coming up! lol... what ain't nice if you are on the oposit side of it.
So, here is the list of the trailing stops that I use when I have a opened trade and I wont be able to watch.
EUR/USD 150 pips
USD/CHF 80 pips
GBP/USD 200 pips
USD/JPY 100 pips
Tuesday, October 30, 2007
Coming soon...
- Other pairs configurations.
- StopLoss preventive setup for each pair.
- Helpful indicators like CandleClock and WorldClock.
Setting up EUR/USD 4H.
As I explained in the last post: the mass move the most;
From now on I'll show the chart's configuration I use, and explain how to earn money from them;
I prefer 4H charts, that are less volatile then short-therm ones, and much more profitable. So I'll start 4h ones:
This is my E/U 4h chart.
As you can see it has a clean visual witch helps with the stress of hours of trading.
The indicators config:
BLUE - Moving Average
Period: 8
Shift: 0
MA Method: Linear Weighted
Apply to: Typical Price (HLC/3)
GOLDEN - Moving Average
Period: 21
Shift: 0
MA Method: Linear Weighted
Apply to: Typical Price (HLC/3)
DARK RED DOTS - Parabolic SAR
Step: 0.0026
Maximum: 0.5
GREEN - Stochastic Oscilator
%K Period: 12
%D Period: 12
Slowing: 5
Price Field: Close/Close
MA Method: Exponential
Fixed minimum: 0
Fixed maximum: 100
Add 2 additional Levels, 60 and 40. Remove 50 level.
RED LINE WITH GREY BARS - MACD
Fast EMA: 8
Slow EMA: 21
MACD SMA: 1
Apply to: Weighted Close (HLCC/4)
RED NUMBERS UNDER THE LAST CANDLE - Candle Timer
Just helps to see how much times still rest for the candle to close.
----------------
Entry signal:
Blue MA cross over the Golden EMA.
- If the Parabolic SAR is supporting(above the chart as in the picture) only LONG entries must be taken.
- If there's a MA cross in the oposit way of the SAR, then the SAR changes sides within 5 candles before the crossing, you are allowed to open that position, cause the trend has changed.
- If the Parabolic SAR is making resist (above the candles), then just take SHORT positions.
- If the Parabolic SAR is making support (underneath the candles), then just take LONG positions.
- The MACD helps you to see the crossover and avoid wrong signals. Wait until the crossover is confirmed by the MACD! Don't try to be the Smart S.
Write those two beneath, each one in the back of your hands, so you can keep your eyes on that while you type on your keyboard:
- Do not buy overbought currencies.
- Do not sell oversold currencies.
Exit signals:
If on a Long position, the Stoch must go UP the 80 level, and then go down. When it completly cross the 60 level you added, that's the right time to close your trade. When short, it must do the same, but going down the 20 level, then cross up the 40 level you added.
If a new MA cross appears - witch must not happens before Stoch crossing levels- close the trade, because it was a fake signal, witch is rare in this TS.
Profits shown:
This is a actual chart, as you can see, the clock on the matches the time I'm posting it. So, let me show you the profits:
Who is good on math? 60+70+90+160 = 380 pips in the last 3 weeks. And I didn't had to get stressed or make huge analysis. That's simple.
So, a little more math?
380 pips / (5 business day * 3 weeks) = 380/15 = @ 25 pips/day.
And that's just one pair.
See you folks.
From now on I'll show the chart's configuration I use, and explain how to earn money from them;
I prefer 4H charts, that are less volatile then short-therm ones, and much more profitable. So I'll start 4h ones:
This is my E/U 4h chart.As you can see it has a clean visual witch helps with the stress of hours of trading.
The indicators config:
BLUE - Moving Average
Period: 8
Shift: 0
MA Method: Linear Weighted
Apply to: Typical Price (HLC/3)
GOLDEN - Moving Average
Period: 21
Shift: 0
MA Method: Linear Weighted
Apply to: Typical Price (HLC/3)
DARK RED DOTS - Parabolic SAR
Step: 0.0026
Maximum: 0.5
GREEN - Stochastic Oscilator
%K Period: 12
%D Period: 12
Slowing: 5
Price Field: Close/Close
MA Method: Exponential
Fixed minimum: 0
Fixed maximum: 100
Add 2 additional Levels, 60 and 40. Remove 50 level.
RED LINE WITH GREY BARS - MACD
Fast EMA: 8
Slow EMA: 21
MACD SMA: 1
Apply to: Weighted Close (HLCC/4)
RED NUMBERS UNDER THE LAST CANDLE - Candle Timer
Just helps to see how much times still rest for the candle to close.
----------------
Entry signal:
Blue MA cross over the Golden EMA.
- If the Parabolic SAR is supporting(above the chart as in the picture) only LONG entries must be taken.
- If there's a MA cross in the oposit way of the SAR, then the SAR changes sides within 5 candles before the crossing, you are allowed to open that position, cause the trend has changed.
- If the Parabolic SAR is making resist (above the candles), then just take SHORT positions.
- If the Parabolic SAR is making support (underneath the candles), then just take LONG positions.
- The MACD helps you to see the crossover and avoid wrong signals. Wait until the crossover is confirmed by the MACD! Don't try to be the Smart S.
Write those two beneath, each one in the back of your hands, so you can keep your eyes on that while you type on your keyboard:
- Do not buy overbought currencies.
- Do not sell oversold currencies.
Exit signals:
If on a Long position, the Stoch must go UP the 80 level, and then go down. When it completly cross the 60 level you added, that's the right time to close your trade. When short, it must do the same, but going down the 20 level, then cross up the 40 level you added.
If a new MA cross appears - witch must not happens before Stoch crossing levels- close the trade, because it was a fake signal, witch is rare in this TS.
Profits shown:
This is a actual chart, as you can see, the clock on the matches the time I'm posting it. So, let me show you the profits:
Who is good on math? 60+70+90+160 = 380 pips in the last 3 weeks. And I didn't had to get stressed or make huge analysis. That's simple.So, a little more math?
380 pips / (5 business day * 3 weeks) = 380/15 = @ 25 pips/day.
And that's just one pair.
See you folks.
Understanding Forex Smart S
Hello every1! :D
In this post I'll explain in what things my trading system is based on. If you're not into FOREX, I hardly recommend to click here and learn a little: BabyPips.
Every person witch gets to know Forex, soon get fascinated of the miraculous money machine it is, and don't really see the big rat trap that's hidden behind the charts; Forex is SIMPLE for those who see it simply, but, for those who see it kinda "HARD" or "WILD MARKET", omg, this guys loose money.
Than u tell me: - Hey, stupid, you better respect the market monster or you'll be soon eaten.
OF COURSE I respect the market, and that's what I most do: Money Management.
If you're here maybe you've already visited hundreds of sites, forums, etc., with glorious promises, and I've done that too. And I wondered looking and reading each one of them, "how does they do that?". But, with hours of flight over the charts, I realized one very simple thing:
YOU DON'T HAVE TO BE THE SMART GUY!
The Forex market, as all the other speculation markets, is like a giant war-hope, in witch the team that pushs stronger, makes the greatest move!
But, in market it ain't about strength, its about mood. So, what does make people mood change to go Long or Short?
- INDICATORS
- NEWS
So, the most people uses a certain indicator, more people will follow that indicator, so they are on the same side of the war-hope, and you'd better be there with them.
And, witch are the most common and usual indicators EVER?
- MACD
- (E)MA's - (Exponential) Moving Averages
- Stochastic Oscilator
- RSI - Relative Streght Index
You have now the great information ever to trade FX: The MASS moves the MOST.
Hope you guys understand that, and believe that. Read that read phrase 21 times, so it gets sticked to your mind for ever.
Next post I'll explain how to talk to the charts, that will be really fun!
In this post I'll explain in what things my trading system is based on. If you're not into FOREX, I hardly recommend to click here and learn a little: BabyPips.
Every person witch gets to know Forex, soon get fascinated of the miraculous money machine it is, and don't really see the big rat trap that's hidden behind the charts; Forex is SIMPLE for those who see it simply, but, for those who see it kinda "HARD" or "WILD MARKET", omg, this guys loose money.
Than u tell me: - Hey, stupid, you better respect the market monster or you'll be soon eaten.
OF COURSE I respect the market, and that's what I most do: Money Management.
If you're here maybe you've already visited hundreds of sites, forums, etc., with glorious promises, and I've done that too. And I wondered looking and reading each one of them, "how does they do that?". But, with hours of flight over the charts, I realized one very simple thing:
YOU DON'T HAVE TO BE THE SMART GUY!
The Forex market, as all the other speculation markets, is like a giant war-hope, in witch the team that pushs stronger, makes the greatest move!
But, in market it ain't about strength, its about mood. So, what does make people mood change to go Long or Short?- INDICATORS
- NEWS
So, the most people uses a certain indicator, more people will follow that indicator, so they are on the same side of the war-hope, and you'd better be there with them.
And, witch are the most common and usual indicators EVER?
- MACD
- (E)MA's - (Exponential) Moving Averages
- Stochastic Oscilator
- RSI - Relative Streght Index
You have now the great information ever to trade FX: The MASS moves the MOST.
Hope you guys understand that, and believe that. Read that read phrase 21 times, so it gets sticked to your mind for ever.
Next post I'll explain how to talk to the charts, that will be really fun!
Hello!
Hello, this is Rodrigo.
I'm glad you are reading this and I hope you join me earning lots of PIP's!
Hope you have some fun and learn a little of the few I have to share ;)
I'm glad you are reading this and I hope you join me earning lots of PIP's!
Hope you have some fun and learn a little of the few I have to share ;)
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