Forex Trading With Simple Setup - page 6
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Hello Everyone,
If you find system usefull or interesting pl give feedback, ask Query,
that encourage me to keep posting additional information.
My intention to post setup on this thread is to share knowledge.
I have no intention to make any system and sell it.. Forex trading is more than enough for me to make money.
Forex forum's teach me most of the thing. and that encourage me to teach others so that others can improve their learning curve.
Initialy before learning how to trade, i had gone through complex indicator and complex stratergy, with lot of indicators on chart where i could not able to see price properly. i had already spend lot of energy and time in search of Holy Grail and finaly realise Trader itself is holly grail. and only simple setup with clear understanding of price action is the key.
Price is the main indicator and reading Price map with simple system is the simple way of trading.
Best regards
Ramdaswow...after 2 hours of consolidation and i went to watch tv then BAM! it moves...missed the move
comment the picture plz thanks...
do you draw your on support/resistance yourself or you only rely on the SMAs?
thanks
p.s: c ya on YM
hi, Ramdas
your setup is very interesting.
Do you use any other indicators to enter and exit?
thxmay i reply on ramdas behalf?
what i understand is to enter you have to recongnise the pattern and exit using h4 pivot
not so sure about stoploss tho
Hi Friends,
This is for trader who are new and in learning process.
After three BAD hit you will start thinking...Whole world is against me .
They are there to steal my money.. i am alone..
Is this True ??????????
No... You are trading along with best profestional around the world.
You are trading along with Biggest Banks..around world.
You are trading in Biggest market in the world.
You are looking at price on chart...along with every currency trader around the world who are looking at same price as you.
Physically you me be alone....But mentally are you alone ??????
Think.
You have to trade with your peak mental state.
You are profestional Forex trader.
So Learn to read Market and price action along with Currency traders around the world..You are NOT alone.
No one has time to trade against you and steal your money.
Be proud of yourself.
Learn to read what price is Saying.
Best Regards
Ramdaswell we see the market differently...
well hav to admit trading is a lonely occupation hehe
hi, Ramdas
your setup is very interesting.
Do you use any other indicators to enter and exit?
thxHi teldon,
I use daily pivotes, for potential reversal point.
4hr pivote to get idea of what price behaviour during 4H.
and before starting i take a look at Daily chart's and Fibo point and Trend line. when price want to change it changes 20 to 30 pips within 5min. and then that movement get's reflected on indicators. Price is number one indicator.
Reading price map and knowing road ahead is important.
I put multipel pair on my chart. and then look at price map as a whole.
it is like..if you lost in Forest... best way to find path is go at nearest Top hill and look around.
Best Regards
Ramdas
Ramdas
Your system seems to have a lot of potential, but there seems to be a fair bit of subjective assesment required at each condition, it makes it a bit hard to follow the rules.
Is there any way can summarise them say like
1. when sma x touches sma y and price is above suggest buy
2. when 4 sma are touching and price is 'z' suggest do this
3. next rule or condition
I think these rules could be summarised off your examples so far, but I am finding it a little difficult to determine clear cut rules as you seem to be also adding a fair bit of your experience in the analysis for each condition.
Just my 2 bob,
Hi teldon,
Reading price map and knowing road ahead is important.
I put multipel pair on my chart. and then look at price map as a whole.
it is like..if you lost in Forest... best way to find path is go at nearest Top hill and look around.
Ramdasquote Reading price map and knowing road ahead is important.
I guess that is what I am looking for, which is the experience part
Quote it is like..if you lost in Forest... best way to find path is go at nearest Top hill and look around.
I got the looking around part, but I am still looking for the hill!
Ramdas
Your system seems to have a lot of potential, but there seems to be a fair bit of subjective assesment required at each condition, it makes it a bit hard to follow the rules.
Is there any way can summarise them say like
1. when sma x touches sma y and price is above suggest buy
2. when 4 sma are touching and price is 'z' suggest do this
3. next rule or condition
I think these rules could be summarised off your examples so far, but I am finding it a little difficult to determine clear cut rules as you seem to be also adding a fair bit of your experience in the analysis for each condition.
Just my 2 bob,Hi Increase.
Let me explain about setup about those SMA Parameter.
Setup is based on simple sma50.
1) SMA50..... You are looking at sma50 on 5min chart.
2) SMA150....You are looking at sma50 of 15min chart,
3) SMA300... You are looking at sma50 of 30min chart.
4) SMA600... You are looking at sma50 of 1Hr Chart
5) SMA2400...You are looking at sma50 of 4Hr Chart.
You can either open separate window with above 5time frame chart with SMA50.
Or... on 5min chart you can apply SMA with above SMA parameter.
Use each sma as support and resistance.
Spot specific price pattern which i shown in post 8.
take entry at sma50 touch and exit at nearest SMA.
sma600 and sma2400 are important. ensure these two are sufficient away from UP or DOWN pattern to give good pips potential.
if all SMA come togather. then price will form breakout... then follow daily pivotes. and hold trade till price again develop UP or DOWN pattern.
Best regards
Ramdas
Hi Increase.
take entry at sma50 touch and exit at nearest SMA.
sma600 and sma2400 are important. ensure these two are sufficient away from UP or DOWN pattern to give good pips potential.
if all SMA come togather. then price will form breakout... then follow daily pivotes. and hold trade till price again develop UP or DOWN pattern.
Best regards
RamdasAha thanks for that Ramdas, I just saw the hill in the distance!
EUR/USD Uptrend formation chart pattern.
Hello everyone,
EUR/USD Uptrend formation chart pattern.
System suggest all 5 sma has come togather, forming Breakout system
yesterday price touch SMA600 and rebound.. signals strong up movement ahead. follow Daily pivotes since price has cross above all 5 sma.
Long signal is at 3192 and Sl below 3180 where sma2400 reside.
If price dip due to news event , system suggest it will again go up after forming bear trap.
Note: price can touch 3180 during news event .where sma2400 reside. so SL to be place below it with proper money management
Best Regards
Ramdas
hiii
take entry at sma50 touch and exit at nearest SMA.
hai ramdas...u suggest to exit post after sma50 touch the nearest sma..my question is how can we determine the trend is still UP or DT after touched the nearest sma..tq