Ok got it thanks. When I googled just S. Mauro nothing of value came up but
adding forex to it helped.
Yep as you have stated it could just be a similar approach. As has also been stated
a lot of these methods have no real grounding of where they originated.
But the cutting & pasting of whole swathes of other material without any acknowledgement
to the original poster is not on.
I will keep a watching brief.
Hi there
Well did ok today in the live room hope you did the same, today i picked the GBP/USD for you guys a safer bet than the eur very choppy this week. The GBP/USD came down about an extra 15-20 pips on the pull back due to the break for a trend line and more sellers were pushed into the market only for the banks to turn it round. So we had the stop run and a W formation and price moved up to the target as i am writing this the target has not been hit yet so a long day if your still in.The live trading room we closed at 15550 so 70 pips on that trade. Hopefully next week will be better after the Greek elections on Sunday.
See Trade below
See you Tomorrow
Hi there forgot
The other trade we took was the Eur/Usd some members took 1 trade and others closed 1 trade and got in again for around 45 pips so here are the 2 entries below.
Regards
[B]Risk-Reward-Entry[/B]
For New people learning to trade the key to making money is the risk factor and getting the right entry. This is why most systems fail because the risk is to great take Moving average cross over trading by the time you enter the trade it is nearly over so entry has to be key, also what is your risk this is the most important element of taking a trade how many times have you taken a trade in the right direction only to for it to turn back knock you out by 3 pips then go back in the original direction.
This is because the market is very heavily manipulated against you right from day 1.
Who does the market love?
New traders why because the 1[SUP]st[/SUP] thing they do is try to find a trading strategy based on indicators because they feel this will give them the edge and its easy, watch this when it crosses over buy. It doesn’t work long term all it does is take your money slowly.
So 1[SUP]st[/SUP] how to look at risk and entry
I would say never risk more than 2% of you capital on a trade.
If your new to trading the EUR/USD is a good pair to trade the spread is low around 1 pip normal. I use a 20 pip stop on this pair the market needs moving room and your risk reward should be 1/2 so with a 20 pip stop you would look for 40 pips profit minimum. What this means is unless you can take 40 pips minimum don’t take the trade this will help you to stop over trading. It will teach you only to go for the best set ups and more important patience.
When your new look to take 40 pips per trade no more learn discipline learn how to read the market how to spot a set ups and then ride the wave to 40 pips get out.
You will normally have about 2 chances max per day to take a trade if your trading 1 pair this will be around the London open and the US open avoid the Asian session altogether. The EUR/USD moves around 70-90 pips a day take this into consideration before entry is there enough room left to make your 40 pips try and avoid trading on Mondays and Friday’s at 1[SUP]st[/SUP] markets can be choppy and low volume.
[B]So how do you read the market this will be the next chapter [/B]
[B]Regards[/B]
[B]James[/B]Hi there
EUR/USD Morning Review
Bias is UP/long
Ok back to the eur today i will be looking for a pull back to the 12613 or 12600 levels first and then a move up 12665 and then possible12680.
will update as needed
Regards
So what style trading do you consider this to be? Is it indicator based or simply chart patterns etc…
When do you plan on holding the live trainings?
Hi there Sorry for the delay
This is a method rather than a system or chart patterns its following the tell tail signs the banks leave.
regards
James
Hi there James here
Apologies to all the traders who where at the live trading on Friday last week
I was not able to get the software working properly due to Tec problems on a few levels, will reschedule the training as below on skype.
[U]
[/U][B][U]LIVE TRAINING SESSIONS
[/U]To Register log on to skype ID: forextraderukgroup
[/B]
Regards
James
Hi James,
Your method looks good. How long has it been working for you?
G
Hi there G
As long as i’ve been trading 18+ years
Regards
Hi there
EUR/USD Review today
Today i am looking for a short down to the 12480 level then 12454 this my bias at the moment
price may pull back to one of these levels and move back up long to 12530 but my bias is short for now
Regards
Hi there james here
just an up date both euro targets were hit today for around 50 pips also Icompleted the 1st day of the free training day so hopefully things will make alittle more sense to the guys that read the thread.
to join in the training skype me here SKYPE ID forextraderukgroup
Regards
Hello James,
today i have visited your live trading. Tell me please how do You find this bias every day and forcast where price will go. Thank You
Hi there
EUR/USD Daily Review
Today we have the european Economic Summit starting so the market will be reacting to any statements so therefore could be choppy all day. I will be looking for price to pull back to the 12500 area, then go long but as a said before today could be choppy so a target of 12540, but will wait to see what happens during the london open, if it goes short i would look to see a target of 12450
regards
Hello James.
can you give me a clearer example of an entry? I am confused as to why we established the support and r lines. I am assuming you are looking for candle stick patterns for an entry?
Hi there James here
Ok we hit the target again short for around 40 pips so ok for a choppy week.
also today i got the live charts up for the training session, next week we will be up and running as normal if you want live training on this method please see below.
Trading starts at 8.00am GMT until 4.00.GMT
Skype:ID forextraderukgroup
Regards
Hi there Lovac
The Bias for the day is based on waves for the week each day, a given pair moves so many pips each day in a certain direction so we can tell want tomorrow will be based on the wave pattern.
Where price will go you need to look at support and resistance for the last day as a guide.If you would like to no more join my live trading sessions or ask here on the thread
Regards
Hi there ele
No i dont look for candle patterns for entry its the set ups and price action, plus I look for weekly and daily waves to trade and time of day join us in the live room to see .
But if you cant do this please explain want you mean by support and r lines and i will explain
Regards
So, first let me get this straight.
We establish support and resistant lines (highs and lows) from the previous 3 market days in both 15 min and 1 hour. I have been looking at your charts and the only way I see for us to enter the market is when price floats or touches the support or resistant levels. It seems like you are reassured that once a W or M forms, having touched the support or resistance line at least twice, you enter the market. How do you know that the support or resistance lines wont be breached? I find it very difficult to comprehend by just looking at the candlestick. Whether it would shoot up or down, I personally would need to compare it with a stochastic or at least an RSI chart to see the liquidity of the market. It “almost” seems like you are inadvertantly applying harmonics because these patterns look like butterflys/bats/crabs/, etc…
And lastly, how you exit or close your trade. I am assuming once you enter this trade, you are constantly scanning your graphs. This is where I assume the candlesticks come into play because they convey changes in the market movement.
Is this your general method or are there more complicated/simple stuff going on here?
Hi there
EUR/USD Review
Bias = long
However today is not a good day [B]price has already made its ave daily range[/B] and london is’nt even open yet and the move was for no major reason other than the spannish banks bail out which they new would happen anyway, my advice would be stay out of the market today or watch what happens in london trade the US session but i would stand aside today.
i will watch the GBP/USD and look for a pull back to around 15580 level if this happens i might go long to 15645 but would need to see what happens in the london open next week should be more clear.
Regards