date, AUD NZD hit my profit target made 34 pips and Eur Cad took out my stop i lost 7 pips all in all thats a good profit and stress free trading
So if anyone is at the point of giving up trading coz there not making money, i promise i am here to help anyone who needs it, im not selling anything and i will never accept anything from anyone…i just like to help out as i have my life and my trading under control. I used to have a struggle trying to survive as a trader, i do not want anyone to have to go through such burdens to find the way to success its not pretty. At one point in 2006 i was completely broke…im free use me as i am where i am today because people helped me for free to get my trading sorted.
Just entered based on resistance turned support as can be seen from the gree line and price being supported at the 100sma. Furthermore, 15 min chart shows bullish triangle forming and the 4hr shows higher highs. Spanish and Italian data is out tomorrow - not sure how that will pan out. i would have waited for a candlestick pattern to show on the one hour before entering but i think i would have missed it and gone in late.
I’ve put a stop below the 200 sma, if price goes lower i expect it to bounce off of the 200sma, otherwise i’m out.
Dennis - what is the 200 tsma?
That was one stupid trade. I was itching to get it and the market gave me a smack - lost 17 pips.
i NEVER ENTER ON THE 100 I ONLY TRADE THE 200 SMA AND SOMETIMES THE 200 (TIPLE) TEMA AND SOMETIMES THE 200 EMA, WHAT FITS THE CHART BETTER, IF PRICE IS FINDING SUPPORT ON THE TEMA THEN I BE USING THAT INSTEAD OF THE SMA OR EMA …ALL I LOOK FOR IS A FILTER TO ENTER LONG OR SHORT ON THE 200 . …5 EMA AND CHANNEL LINES AND FIBS ARE ALL THE FILTERS YOU NEED . ON YOUR CHART I THINK THE LOWER LINE IS THE 200 THAT IS AN ENTRY POINT …100 AND SO ON TO SHORT A PERIOD FOR CONSISTENT RESULTS
i NEVER ENTER ON THE 100 I ONLY TRADE THE 200 SMA AND SOMETIMES THE 200 (TIPLE) TEMA AND SOMETIMES THE 200 EMA, WHAT FITS THE CHART BETTER, IF PRICE IS FINDING SUPPORT ON THE TEMA THEN I BE USING THAT INSTEAD OF THE SMA OR EMA …ALL I LOOK FOR IS A FILTER TO ENTER LONG OR SHORT ON THE 200 . …5 EMA AND CHANNEL LINES AND FIBS ARE ALL THE FILTERS YOU NEED . ON YOUR CHART I THINK THE LOWER LINE IS THE 200 THAT IS AN ENTRY POINT …100 AND SO ON TO SHORT A PERIOD FOR CONSISTENT RESULTS
triple ex moving ad tema typo sorry…15 minute chart, i only use the 15 min chart to enter a trade but the price i want is the price the 200 is on at the 1 hour
what are all those lines? i thought you were only using 200sma in your trading since you spoke solely about it.
your right i will explain.
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i only enter a trade long on the 200 SMA if price holds above. Example if the market price is 10 and the SMA is 8 I will try to buy at 8 to 10. based on price on 1 hour or 4 hour chart. Short same visa versa.
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Those other lines, other moving averages |I use are only as a filter and to give me more prospective of the market.
Example
I have 200 EMA 200 TEMA as I know that many traders use those instead of the 200 SMA. So for example if price holds above the 200 EMA and that drives price towards my 200 SMA then I know that the 200 EMA will act as a support … It may also indicate to me at a time much earlier then the 200 SMA the direction and sentiment of the market. If price around the EMA is mixed I know the 200 SMA will be the tipping point for a large move, taka a look at jpy usd 5 mins ago you will see what i mean. Same for TEMA. I use the 5 EMA to filter price, candles spike, above the 200 SMA anddrop down again! The spike above would imply going long. If the distance of the 5 EMA is to great then i wont open the trade, as not to be fooled by a spike on a candle. Here is my live trade now, i moved up my stop to cover some profit as i was not able to trade yesterday. My entry was on the 200 SMA you can make out the cream color order number…AUDNZD time now is 12 46 20.8 pips up
all in all a crap trading day, 32 pips profit on aud, 15 pips loss on gbp. and on my revese trade on gdp that was braking 10 pips profit i accidently hit close postion when i was trying to split down 1 lot to half , after it closed price move up …stuff happans…hehe
why do you prefer a TEMA? I have tried it before and ended up with a conclusion that it works quite similar to the basic MAs (sma, smma, ema, lwma). you just need to tweak the value to come up with a similar result/similar looking line.
I will get back to you on your question. i will give you some detail with charts 4hour 1 hour to show how i use the TEMA and everthing else to determine if i will be long or short on the 200SMA give me some time i am preparing london session opens in 10 mins …trade plan today for open is GBP NZD GBPAUD EURGBP what happans after that who knows
heres the 4 hour, this how to determine your entry long or short on the 200 sma which you can enter on the 1 hour or 4 hour but alway draw channels on the 4 hour so you can see where you are in the 4 and the one
no need for charts, thanks anyway… I simply wanna know why you prefer TEMA over the ‘basic’ MAs?
this above never formed still waiting…need big balls to be holding GBPCAD right now, but its fun already filled half on both my postions, covered my expences for today…, for those who are reading my charts, i think this is the most easy way to make money in forex, no need for much anlysis just buy what is considered load and live the life you want to where you want to…i am in bahrain right now as the race season starts soon…i want everyone to be happy and live life to the full…
