Eliteam!

I am thinking of opening a trading group - traders that trade together - not at the same time but rather share trades - whats so special?? first of all i am from israel so i would be looking for people of that time area - second, you ought to be nice people - just kidding…

i dunno i wanna have my own group - ELITEAM!

that’s it - ELITEAM - Elite Trading Team!

anyone…???

M

Hi there

this is a system/method/pattern i have read about that i want to post for you to read/improve/share/talk/love

i will post it here and also in the Holy Grail area

this is how it works:

it is applied by reaching definite goals - if not reached - we are out of the game

Open a 5 MIN. chart

[B]
MISSION 1:[/B]

Find a trend - meaning a series of candles that form higher highs or lower lows - that its highest/lowest point differs from the lowest/highest point by [B][U]at least [/U][/B] 40 pips, once done we move on to mission 2

MISSION 2:

call that trend [B]Active Wave 1[/B] - that is its name from now on.

Active Wave 1 is the nearest in time to our current time, meaning that there can be lots of possible AW’s but we take the nearest and MUST be over 40

MISSION 3:

Draw Fibbonaci’s Retracment levels on that same AW 1 - levels of Fib. used: 0, 0.25, 0.38 , 0.61 , 0.75

MISSION 4:

wait for a candle to [B]close[/B] between 0.38 - 0.61
once achieved - next mission

MISSION 5:

wait for a WHOLE candle to either pass the 0.25 or the 0.75 level - you may be asking - which direction?? well it depends on the AW you drew and on you Chart software - if the AW was going up and the candle passed through 0.25 or 0.75 meaning it is closer to the top of AW - then we are about to get a BUY signal, if the candle closed below 0.25 or 0.75 then we are about to get a SELL signal, but wait.

MISSION 6:

Before deciding on your own whether you are right or not - look at the D1
and if the RSI(14) indicates on a values larger than 50 and we had a BUY signal from MISSION 5 - it is a BUY, otherwise it is not.
if the RSI(14) indicates of a value smaller than 50 and we have a SELL signal from MISSION 5 then it is a SELL, other wise we are still out.

MISSION 6.5:

Make the order and place a 50 pips STOP LOSE - Which will remain the whole way at the SAME LEVEL - no trailing stop no move to even, nothing.

we will trail the stops on our own special way

this was the entry - getting out:

once we ordered ,meaning we already bought/sold, we exit once we get in the same way of applying MISSIONS 1-6 a reversed signal - if we bought something we wait for selling signal, if we sold we wait for a buy signal.

MISSION 7 - wait to Exit the trade:

after drawing AW 1 - wait for a new AW to form, in any direction!

once formed - delete the previous AW and FIB. Retracement and draw a new one on the new AW - in this specific wave for a BUY/SELL signal - if it is reveresed to your current order - exit the trade, otherwise wait for a new AW.

the trade is exited/closed either by getting a reversal signal or by reaching the 50pips stop loss we set at MISSION 6.5

that is it - unless i forgot something i will now post 2 images i have right now from last nights trade i enterd - i will post it even if i go -50 pips only to show you how it works, in general, i think you can learn more by posting losing trades than by posting winning trades

for questions - hit me on!

:slight_smile:

M.

MANY THNANKS TO ELANG WHO SHOWED ME THIS AND SOME OTHER STUFF - heheh

Sounds like Mission Possible.

:slight_smile:

lol I think I agree. I get to Mission 3 and don’t want to keep playing! I was, “How many more to go?” and hit the WIN button… If you don’t have a WIN button, you need to get one - but they’re pretty expensive! :cool:

I’m kidding about the WIN button thing… :smiley:

http://www.babypips.com/forums/showthread.php?p=7320&posted=1#post7320

go there…

mamutot,

  • 131 pips, thats great!

Don’t worry about the just demo trading thing. Some people go live way to soon. I did in the beginning.

I say “demo trade, demo trade, and demo trade”.

Good work!

:slight_smile: