Profitable trading thanks to MoneyTec forum

[micahman]

hey there. i'm quite the newbie here and i've been studying this site for probably about 3 or 4 months looking for a solid strategy to learn. this method looks VERY good and i'd like to start learning it. however, i've had some difficulties learning the basics of what i need to know (understanding indicators, etc.). i was wondering if anyone could help point me in a direction that would prepare me with the fundamentals so i can start learning this system.

i started out using 4x made easy...then, when i found out what a sham that was, i had to unlearn it all so it didn't polute my thinking! i'm currently reading a book on tech analysis...just looking for a little bit of guidance here. thanks all!

[birdjaguar]

I have heard that FXCM has a good online class. It lasts about a month and is reasonably priced. I use them as a broker but have not taken the couse. I think you will find some confirmation in the due dilligence forum. They are at FXCM.com Always trade small or trade demo. until you are comfortable with what you are doing.

[fxPhreak]

Update:

Well, I haven't made any changes to Mark3's system that have yielded any proof positive results. I did add a MACD histogram, RSI 14 and Bollinger Bands(20,.2) for my own peace of mind.

Using the system as Mark3 has described it, I have managed to get results of better than +200 pips since Monday, 12/6.

Unfortunately, this is on a demo account , but if results stay positive, I will be going live with this strategy next month. So far it seems to be the best strat I've found on these forums. I tried Bunny's wma-x system to reasonable results, but nothing like this.

Mark3:

Do you have any concerns with getting the additional custom indicators rewritten for MT4?

Thanks again for sharing this system. It's people like you that make this world a better place.

-Jack

[zenseven]

Thank you Mark3 for sharing your ideas. Earlier I have developed the system that is alike yours. But too long I could not find 2 your key rules: Right Time and 30 pips filter.

Thank you Mark3 again.

I use RSI(10) to identify divergencies to be ready for movement. and do not enter trades below 25 and above 75.

[zandu]

Ok folks of those who have tried Mark 3`s strategy live what sort of results have you had ?
Mark 3 are you still getting the 300 pips or more a week ?
Look forward to hearing from you thanks

[zandu]

Hi Michman, fxcm have just released a dvd on understandinging indicators could be well worth purchasing for $39 check it out at http://www.pristine.com/seminars/online/PTU/fxcm/info/strategies_fxcm.htm

I also have found some good free info on fxstreet.com ..the last one I printed out was on divergences I also use thier economic calender

[micahman]

hey, could someone help me edit my t3 indicator for this? i don't know how to code at all. that would throw me off quite a bit if i set it wrong...you can email me at micaheide at yahoo dot com.

thank you!

[gibsonmh]

The system described on the first few pages of this thread is brilliant! If I would have followed it to the letter, rather than getting nervous and getting out early, I'd be up 100+ PIPs. As it stands I'm up 30 pips, and as a newbie, very excited about finding a system that seems to work.

Thanks again to everyone for sharing their insights on Forex trading. I hope I'll be able to add something to the discussion in as I gain experience. ( I've only been trading for three months, most of them for a loss.... )

My hope in the forex market has been restored!