Quote:
Originally Posted by FishinBrian
Howdy All,
I am finally done reading through this great thread. Let me first say that this system is outstanding. The combined efforts of jado911 and xmess7 have helped me find a quality system that I can apply that I feel confident in. I am a relatively new trader. I have been researching the topic of Forex for about a year or so but have not found very much time to really apply what I have learned being in college and all. I just graduated this past month and I am excited to start spending some more time researching Forex.
I fist started experimenting with this system a couple of nights ago. Initially, I experienced some small gains and some small losses. After reading through this entire thread, I have come across some useful information that have upped my odds in having successful trades. I am proud to say that I just completed my third successful trade today using this system. I closed my last trade with a gain of +38 pips. The other two were a bit smaller (+12 and +19) but hey, still in the black. I posted some screen shots of my last trade. I took the shots just after I had entered the trade. I am just looking for some feedback on if I went about entering this trade properly and maybe some other pointers.
Went short at the red arrow..
I did not get a chance to label anything but the reasons for entering were as follows...
XM7 hit a red sell point
MACD cross and went into negative
SSL channel cross
MACD Divergence
I did see the trade setting up on the 15min chart. Because I'm anxious and don't like waiting for setups, I then went to the 5min and 1min charts to try and find the best entry point. I did enter a little early (before the SSL cross but after the MACD made its move) but only because of the divergence. If this were not that I would have waited.
Let me know what you think...
Thanks, Brian
P.S. I have been following this forum for months but have never posted anything. This thread has excited me enough to start posting. See ya around.
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I'm glade you are having success,
your looks fine to me, i recomend you look for TRO thread and find the TRO support and resistant, if you add that to the chart you'd rack more pips each trade, It was the missing part for my system and the reason my SL dropped to 50-60 pips instead of 150.
If you cant find it contact me on msngr, my contact info are on the top right (YM, MSN and skype icons)
piece of advice something i went through using this system( might be with all systems idk) its better to right down the rules of this system some where you can see while you trade i have a dry erase board in front of me) i have all my rules my goals and I complement my self when i do something right, I also right down possible trades for the day.
I wish you the best and to all of who are following and not posting..... don't be shy
I'm with you Dzielak51, 4HR best suit my time schedule, as I run my business and go to college
BTWY I made 778 pips sun/Mon which i have kept only 650pip, I'm still happy with