System for me?

[esl620]

Hey everybody,

Just a quick question: I'm a student that has to be at school from 8-5, and sometimes later, everyday. I have a little experience in trading forex but its been awhile and I'd like to get back in the game. I've spent a little time reading the threads and systems on this forum. I was wondering if there are any systems out there that you all recommend that don't require being in front of the computer all the time? Don't get me wrong, I don't mind spending some time doing this, just not ALL the time. The Cowabunga system seems pretty good, but any info from you guys out there would be very much appreciated. From what I've seen, this forum is awesome and it seems like a great thing thats going here. Sorry if this has been discussed somewhere else. Thanks

[ForexNinja]

I'd recommend trying a system that trades on longer timeframes such as 4-hour or dailies. Of course this will only work if you're happy with taking only a handful of trades a month! Some people are just too impatient to allow their trades too remain open for days.

[n_aftab]

Hi,

forex Ninja, can you maybe offer some assistance with that for the newbies, as i personally think its rare to come accross a system that works off day bars or 4 hours. Most of the traders i know prefer to work with shorter time frames,

Perhaps if you directed them to a method of working with the longer time frames this may help?

[rhodytrader]

Originally Posted by n_aftab

forex Ninja, can you maybe offer some assistance with that for the newbies, as i personally think its rare to come accross a system that works off day bars or 4 hours. Most of the traders i know prefer to work with shorter time frames,

Perhaps if you directed them to a method of working with the longer time frames this may help?

The idea that most of the folks you know prefer shorter-term trading doesn't necessarily have anything to do with the success rate of longer-term trading. Many folks just like the action and activity of trading shorter-term.

If you are using a technically based system, then it should (in theory) be just as applicable to long-term trading as to short-term trading. A break-out is a break-out, a moving average cross is a moving average cross, no matter what timeframe. Actually, moving out longer-term often means seeing smoother trading action.

[topgun]

You can try the VanessaFX 4 hour system. I have been using it on the GBP/JPY for a short time now and it has been working well. You have to be adle to handle a 100 - 150 pip SL though since that pair moves like lightning . It uses the daily chart with 4SMA's to determine trend direction and possible targets using S/R levels and it uses the 4 hour chart to find entries using a MA cross, PSAR & MACD Cross. Read the PDF in the below link below if you want more info or to see if it interest you. There's even a Metatrader indicator that can send an SMS alert to your cell phone when a possible trade exist so you can run out of class to make a trade in your schools computer room .

http://www.babypips.com/forums/free-...long-time.html

Originally Posted by n_aftab

Hi,

forex Ninja, can you maybe offer some assistance with that for the newbies, as i personally think its rare to come accross a system that works off day bars or 4 hours. Most of the traders i know prefer to work with shorter time frames,

Perhaps if you directed them to a method of working with the longer time frames this may help?

[esl620]

Great, thanks for the replies, I'll take any excuse I can get to get out of class!!! I've got the VanessaFx system up so I'll see how that goes in the demo for a little while. Glad to hear you're getting good results from it. You mentioned the indicator, I have the VanessaFx one that sends an alert to my computer but how can I get it to go to my cell phone? Also, speaking of indicators, does anyone know where I could find one that alerts when a 5EMA and a 12EMA cross? Being new, the easiest way to learn for me is just to mess with stuff and try different things. Thanks!

[topgun]

I have been struggling to get the EMA cross indicator to work for months because I keep getting bombarded with text messages . For now I am just using this site for EMA alerts alert!fx™ - foreign exchange (forex) alerts.

Getting Metatraders email setup was VERY difficult but I finally got it. Not only do you have to configure the email settings in MT but you also have to setup your local email client (outlook express or outlook) to send mail using POP3. I think you said youru using yahoo so I am not sure it they support sending/receiving mail using the POP protocol. Hotmail makes you pay for it but Comcast, gmail, cavalier all work great. Essentially MT uses the local POP3 settings to send the message. See the post below on another forum for many threads with details on how to setup email in MT. You might have to register if you haven't already.

Topgun

Email - Forex Trading

Originally Posted by esl620

Great, thanks for the replies, I'll take any excuse I can get to get out of class!!! I've got the VanessaFx system up so I'll see how that goes in the demo for a little while. Glad to hear you're getting good results from it. You mentioned the indicator, I have the VanessaFx one that sends an alert to my computer but how can I get it to go to my cell phone? Also, speaking of indicators, does anyone know where I could find one that alerts when a 5EMA and a 12EMA cross? Being new, the easiest way to learn for me is just to mess with stuff and try different things. Thanks!

[n_aftab]

Topgun,

I`ve got a question for you about the system, i`ve read it and just wondered what did you do about the last cross, as to me it looked a bit of a dummy and reversed, did you enter and exit on the same bar etc? your thoughts?

thanks

N

[esl620]

Thanks Topgun, finally just got the email to work.

[topgun]

What pair and time are you talking about. If it's when the US interest rate statement came out than no. I have screwed up so many times by not waiting until the candles close that I am trying to be more disciplined now. I am trying to avoid the NFP & interest rate statements when at all possible. Also after those big run up & downs there is usually always a retracement so I like to wait a few candles to let the dust settle. I have only been using the 4 hour system and there hasn't been an entry since sunday night and it has been going up all week so far . I couldve made 400 pips if I jumped in the GBP/JPY on monday morning @ 3am when that big run started but I was always in a trade. If anything I am still monitoring the trades wheather I take them or not just to see them in action and make sure the system is working.

Topgun

Originally Posted by n_aftab

Topgun,

I`ve got a question for you about the system, i`ve read it and just wondered what did you do about the last cross, as to me it looked a bit of a dummy and reversed, did you enter and exit on the same bar etc? your thoughts?

thanks

N