Here's a free e-book for trading daily charts

[michael dunbar]

Hi,
This is my first post here but I've been trading forex for a good few years now.

I've written a simple e-book outlining one of the methods I've been using recently with success and I've attached it below for anyone interested.
The method uses the daily charts - best for those who can't spend a lot of time in front of the screen. The book is written with the new trader in mind, but anyone who's looking to use the daily charts more might find it useful too.

It comes with no promises of riches, just an outline of what worked for me and pointers to take it further. Feel free to post any questions or comments about the book here and I'll do my best to answer them.

Cheers,
Michael

[Mikeus]

This is the same system which is call "Fozzy"?
I saw this on another forum.

[michael dunbar]

That's correct. There's a link to that thread in the e-book.

The book is just trying to condense a lot of good ideas out there and bring it together in a systematic way. I trade it slightly differently (well, everyone does, don't they) and I outline how I approach my trades in the book.

[michael dunbar]

Here's a trade I'm in the the moment. Aud/Usd, entry at 0.8244 and looking for it to go up to the double top at 0.8390 again. I'm also short usd/jpy from the 8th. Both are not moving much but in the black at least.

Market's been choppy lately so bit of a tough time. Looking for a buy cross to get back in on eur/usd and gbp/usd. Wait and see for now.

Just my own plans.

[vladv]

This ebooks is great!Thanks 4 posting it here,michael.

[RJYYJR]

Originally Posted by michael dunbar

Hi,
This is my first post here but I've been trading forex for a good few years now.

I've written a simple e-book outlining one of the methods I've been using recently with success and I've attached it below for anyone interested.
The method uses the daily charts - best for those who can't spend a lot of time in front of the screen. The book is written with the new trader in mind, but anyone who's looking to use the daily charts more might find it useful too.

It comes with no promises of riches, just an outline of what worked for me and pointers to take it further. Feel free to post any questions or comments about the book here and I'll do my best to answer them.

Cheers,
Michael

Dear Michael. Did you known any realy person, which can do realy money on forex?

[michael dunbar]

Here is an indicator for the system for those who use Metatrader4 charts.
Load it into the /experts/indicators folder and attach to each chart. Download it at my resource page.

It simply points up if there's a long signal cross and down for a short. Useful for backtesting too.

Hope it helps
Michael

[michael dunbar]

Take a look at the chart below to see how the 70% ATR channel kept us in a recent GBP/JPY upmove. Long signal got us in at the green circle on the chart. That's the way to stay in a strong move. Doesn't happen a lot but feels good when it does - (actually DOES happen quite a lot on this pair).



For tomorrow, looking at the GBP/USD daily chart to get in short if it can push a little lower and give us a cross. Target either the 50% retrace line of the recent upmove at 1.9820 or the 28EMA a little higher. A 70%ATR stop here would put us above recent highs.

Just how I'm seeing it, make your own trade decisions.

Michael