+- +-

+-User

Welcome, Guest.
Please login or register.
 
 
 
Forgot your password?

+-Stats ezBlock

Members
Total Members: 12
Latest: side_job
New This Month: 0
New This Week: 0
New Today: 0
Stats
Total Posts: 3624
Total Topics: 1
Most Online Today: 1
Most Online Ever: 6
(May 22, 2017, 10:34:16 am)
Users Online
Members: 0
Guests: 0
Total: 0

Author Topic: TA Forex Trading  (Read 11785 times)

Pennies2007

  • Administrator
  • Hero Member
  • *****
  • Posts: 2006
    • View Profile
TA Forex Trading
« on: December 15, 2016, 10:33:58 pm »
This forum has been created for those of us who are dedicated to pure technical analysis in Forex trading. No single system is absolute nor is a single system the "holy grail". Trading is a dynamic process that evolves as we learn and everyone has something to contribute. Please be mindful of others as they share on this forum and, above all, be respectful. Disrespect for other members will not be tolerated in any form. We're here to help each other in any way we can.

I had a request to post my public trading accounts here at the beginning so here they are.


New Account...low risk 2% entries, heavier emphasis on long term trading or swing trading.

https://www.myfxbook.com/members/nettechs/long-term/2123316

**Addition for MA Shade Trading Setup***********************************************************************
MA Shade Trading System

This is a consolidated post showing how to use the MA Shade Trading system. The setup will work for any time frame but for day trading, the 15 minute chart is the best. Also, when using this system, always check the higher time frames to see where the larger trend is going. If the daily, 4 hour, and hourly are up, for example, only look for long positions on the 15 minute setup and vice versa.

I have included a zip file in this post that includes the SHADE MA indicator and the finalized template for the setup with all of the modifications included.

So let’s get right into it…there are 3 basic rules for taking trades using this setup. Here they are…

1. Wait for the MA shade indicator to change color based on the direction you want to trade. For bullish setups, the indicator will change to a blue shade. For bearish setups, the indicator will change to a gray shade. During this time, the main thing you want to make sure of is that the faster white MA crosses over the slower green MA. You’re not actually taking the trade here…all you’re doing it taking note of the color change. Price will almost always retrace back in the direction of the previous trend for a bit when this first occurs. If bullish, all you need to do at this point is mark the high after the first color change appears with the MA crossover. If bearish, mark the low point after the first color change appears along with the MA crossover.

2. Set a limit order to trigger when price comes back and exceeds the point you marked in Step 1. For bullish setups, set it 5 pips above the level. For bearish setups, set it 5 pips below the level. This will trigger your trade entry. Stop losses, if you wish to use them, are normally small if the spread is small on the pair. The safest stop loss is 20 pips but normally 10 to 15 pips is fine.

3. Take profits after the high volume move or wait until price moves back to the white MA to close out the trade. I never expect less than 30 pips on these moves and most of the time (80% or more), price will move about 50 pips.

Additional notes: Avoid trading when the MA’s are moving sideways during consolidation. The white MA is the key here. Ideally, it needs to be showing a 2 o’clock angle up during bullish setups and at a 4 o’clock angle down when trading bearish setups. This angle will typically show up during the initial MA shade color change and then continue once the trigger is activated. The MA shade will begin increasing in size (getting fat) once your trade trigger happens. If price seems to stall after your entry and you’re not seeing any real volume and the MA shade isn’t getting bigger, it’s probably best to exit for a small loss or small profit and wait for the next trigger. Also keep in mind that this system isn't designed to completely replace your existing method of TA trading. I still highly recommend that you do your analysis on higher time frames (fib, trend lines, etc.) to make sure you don't take trades that have increased odds of being losers. Also, try to always trade with the trend on the larger time frames. Your odds of success increase greatly when you do this.[/i]

There are a total of 6 example charts, the MA shade indicator, and the template included in the zip file with this post. I recommend going through the examples thoroughly and then run the setup through the MT4 strategy tester to get comfortable with the trading system before going live with it.

********************************************************
New EA Public Demo Account Link
https://www.myfxbook.com/members/nettechs/breakout2017/2208547
********************************************************


« Last Edit: August 06, 2017, 04:37:16 pm by Pennies2007 »

Share on Facebook Share on Twitter Share on Google+


Pennies2007

  • Administrator
  • Hero Member
  • *****
  • Posts: 2006
    • View Profile
UJ Weekly Chart
« Reply #1 on: December 15, 2016, 10:39:22 pm »
I would strongly suspect that the Yen is about to start gathering it's strength again for another northern surge, tanking pairs like UJ significantly. My minimum target on my UJ shorts is currently set for 107 but more downside beyond that looks to be in the works.

Yen Weekly Chart and UJ Daily Line Chart

« Last Edit: December 15, 2016, 11:40:18 pm by Pennies2007 »

javalin

  • Sr. Member
  • ****
  • Posts: 320
    • View Profile
NewBoard looks nice
« Reply #2 on: December 18, 2016, 06:30:51 pm »
Pennies thanks for the creation and invite-now i've got to learn how to use it ;D

javalin

  • Sr. Member
  • ****
  • Posts: 320
    • View Profile
Re: TA Forex Trading
« Reply #3 on: December 18, 2016, 06:37:00 pm »
Pennies you the MAN-Giving us a new beginning Merry Christmas to us--Next year will be brightened by this new forum-once again thanks

Pennies2007

  • Administrator
  • Hero Member
  • *****
  • Posts: 2006
    • View Profile
Re: TA Forex Trading
« Reply #4 on: December 18, 2016, 06:42:15 pm »
Pennies you the MAN-Giving us a new beginning Merry Christmas to us--Next year will be brightened by this new forum-once again thanks
I think it will be great Jav. I'll post details about the new mobile app for the forum tomorrow.


Sent from my LGL62VL using Tapatalk


Kirby2016

  • Newbie
  • *
  • Posts: 12
  • Location: Texas
    • View Profile
Re: TA Forex Trading
« Reply #5 on: December 18, 2016, 08:15:01 pm »
just went short U/J and already in the green $$$

javalin

  • Sr. Member
  • ****
  • Posts: 320
    • View Profile
Re: TA Forex Trading
« Reply #6 on: December 18, 2016, 08:30:14 pm »
nice Kirby

javalin

  • Sr. Member
  • ****
  • Posts: 320
    • View Profile
AUD/USD 15 min
« Reply #7 on: December 18, 2016, 08:32:39 pm »
loving these new pivots-on this 15 min chart i am using the Daily pivots-been rejected alot at that DPP

javalin

  • Sr. Member
  • ****
  • Posts: 320
    • View Profile
Re: AUD/USD 15 min
« Reply #8 on: December 18, 2016, 08:34:08 pm »
LOL WOW that was easier to post a chart than IHUB

javalin

  • Sr. Member
  • ****
  • Posts: 320
    • View Profile
HEADED SOUTH
« Reply #9 on: December 18, 2016, 10:26:10 pm »
Aud/JPY and NZD/JPY both headed south
« Last Edit: December 18, 2016, 11:29:33 pm by Pennies2007 »

Pennies2007

  • Administrator
  • Hero Member
  • *****
  • Posts: 2006
    • View Profile
Re: TA Forex Trading
« Reply #10 on: December 18, 2016, 11:25:06 pm »
nice Kirby

Nice job Kirby. UJ is probably going to be a longer term play for me since it's likely to take some time to work it's way back down to my 107 target so I'm just letting my short entries ride for now. But I've been known to do some day trading now and again as well so I may be hopping in and out along the way down...LOL!

Pennies2007

  • Administrator
  • Hero Member
  • *****
  • Posts: 2006
    • View Profile
Re: NewBoard looks nice
« Reply #11 on: December 18, 2016, 11:28:39 pm »
Yep, there's a bit of a learning curve Jav but it's not too bad. The biggest thing to remember is to reply or quote to a post on the primary board so that it shows up there instead of creating a subtopic. Your post here and on AU, for example, showed up as a subtopic away from the primary board, most likely because you hit the "new topic" button rather than using a "reply" button on the last post.

It'll take some getting used to but things like charts are so much easier to read here than on IHUB.

Pennies2007

  • Administrator
  • Hero Member
  • *****
  • Posts: 2006
    • View Profile
Re: TA Forex Trading
« Reply #12 on: December 18, 2016, 11:31:07 pm »
loving these new pivots-on this 15 min chart i am using the Daily pivots-been rejected alot at that DPP

Pennies2007

  • Administrator
  • Hero Member
  • *****
  • Posts: 2006
    • View Profile
Re: TA Forex Trading
« Reply #13 on: December 18, 2016, 11:33:25 pm »
Here's your chart Jav. It showed up on a subtopic instead of the main board here.


Pennies2007

  • Administrator
  • Hero Member
  • *****
  • Posts: 2006
    • View Profile
Re: TA Forex Trading
« Reply #14 on: December 18, 2016, 11:40:37 pm »
Ok guys, I got the subtopics that were created merged here into the primary one so everyone can see all the posts. Just remember to hit the "reply" button to the last message on the last page and your post will automatically go to the primary page. If you accidentally make a "new topic" and it doesn't post on the main page, just let me know and I'll move it over for you.

 

+-Recent Topics

TA Forex Trading by Heavyweight
September 30, 2018, 11:48:51 pm