Love this strategy and if you stick to it you can gain. The biggest issue Jay and I faced was to filter out false trades. And as you can see there has been various ideas and I have learnt that each trader is different therefor each will have their preference.
We can make more here I believe. And yes I have see EA’s and robots and tons of strategies and ebooks and non compare. I have another one I am tweaking which is just as good as this but have more signals so need to filter out, but this is by far the most profitable.
GREAT GOING TEAM!!! I’m Seeing 400 pips, 500 pips for the week! Awesome guys really great!! I’m using my main system this week because of my personal preference with the news and everything. But the trade I liked was GBPNZD ( besides the ones I posted before, they have not gotten signals to enter yet ) GBPNZD YES it was a counter trend trade, going against myself there! But it has been bouncing around and it close below the last high so when the cross came could’ve entered, 300 some odd pips in profit now. I should’ve just taken it lol. Sticking to the system and KISS ( keep it simple stupid! ) Seems to work best huh? To many indicators seems to equal a lot of missed out profit in the long run.
One other thing is, I’ve learned this along the way, PATIENCE is KEY and DON’t overthink things… those 2 will kill you here. The patience is key sooo very key in forex. Over thinking can take away profit at times and add to losses! KISS=keep it simple stupid !!! lol :56:
in 1 HOUR we got the CAD bank rate coming out, No trade zone!! Play it safe through that period and let the dust settle too. Than at 5PM EST TIME we got the NZD bank rate, which CAD seems to be keeping the rate the same, but could have positive or negative statement to see which way currency will swing. Than NZD is planning a rate cut, which could weaken that currency so depending on how things play out, might want to short against the NZD in the coming days!
Hey Snipes, yeah sometimes I do have trades which felt like they were entered too early only to have the LWMA lines bouncing off rather than crossing each other. I have to work on this habit of being impatient. Like the one im in now: EURUSD sell 1.11868. Though it seems like price is going down as EURUSD is on a short term downtrend I believe.
NZDUSD looking good for a short once we get the 1 and 4 cross, the NZD bank just cut their rate yesterday so that should weaken the NZD overall.
I didn’t use this system this much this week, I named off the trades earlier in this week and none of them gave valid signals to enter, because we had 3 bank rate news lol. So I used my other system mainly, but that’s just me. This system had PLENT OF PIPS to be made this week with, and as I see it, Many of you have!! very well done guys!
That pair has been ranging for sometime and having a hard time picking a new way to go lol. But that’s the name of the game you will lose you will win. Even when you lose though there is a positive side! YOU LEARN!!! some of the best lessons I’ve learned in forex was from me making my own mistakes! So take it as a learning experience and learn all you can from it!
also the USD has been having some trouble today its gotten weaker overall. But it could be short lived, tuff call
Here’s a little note I’ve made while observing these crossovers so far. Though I haven’t personally tried it yet but let me explain:
Remember Snipes method of using 1, 2 and 4 LWMAs and waiting for 2 to cross 4 before confirming and placing a trade?
I’ve noted that it may also be possible to play the 1 crossing 2 LWMA because it gives us a very early signal.
One thing I’ve observe is that when 1 crosses 2, price will tend to go in the direction of crossover and that can bag us quite a few pips.
Yes I agree that it may be too early to act as confirmation BUT it can also give us a very early exit signal if the trade is wrong thereby allowing us to cut our losses by quite abit. Our losses won’t be very huge as a result. Thats why I think for the method of 1 crossing 2, a smaller S/L can be placed - say 50 to 75 pips S/L.
[QUOTE=“Fotovinic;722128”] Hey Snipes, yeah sometimes I do have trades which felt like they were entered too early only to have the LWMA lines bouncing off rather than crossing each other. I have to work on this habit of being impatient. Like the one im in now: EURUSD sell 1.11868. Though it seems like price is going down as EURUSD is on a short term downtrend I believe. Dam, this doesnt feel good.[/QUOTE]
Yep, this is why we started this to filter out these. Looking back, the trade was “never” on.
Still profitable after all. Will update my post when I get to my laptop.
[QUOTE=“Fotovinic;722257”]Good day team, Here’s a little note I’ve made while observing these crossovers so far. Though I haven’t personally tried it yet but let me explain: Remember Snipes method of using 1, 2 and 4 LWMAs and waiting for 2 to cross 4 before confirming and placing a trade? I’ve noted that it may also be possible to play the 1 crossing 2 LWMA because it gives us a very early signal. One thing I’ve observe is that when 1 crosses 2, price will tend to go in the direction of crossover and that can bag us quite a few pips. Yes I agree that it may be too early to act as confirmation BUT it can also give us a very early exit signal if the trade is wrong thereby allowing us to cut our losses by quite abit. Our losses won’t be very huge as a result. Thats why I think for the method of 1 crossing 2, a smaller S/L can be placed - say 50 to 75 pips S/L. Thoughts?[/QUOTE]
Haven’t really thought of it. But think you might be on to something indeed…
Hello all, I’ve been following the thread for a few days and I would like to join in the discussion. Here is one to watch when the markets open. On GBP/JPY, the 1 LWMA has just crossed below the 2 LWMA and both could soon be crossing the 4 LWMA.
[QUOTE=“Snipes;722622”]Last week (month to date) +698 pips 11 wins, 3 lost (79%) Monday to Thursday, not trades on Friday was traveling. GbpNZd looks good for a sell. nothing else. have a great week all.[/QUOTE]
and learn all you can from it!
its gotten weaker overall. But it could be short lived, tuff call 
