Trading systems that cost $50,000

[mvitachi]

Originally Posted by psytrader

I dont believe I know how to apply fibo.
I dont believe that I know a usefull application for the 2 ma either.

Regards

PSY

I meant your 2 moving averages.

[psytrader]

Originally Posted by mvitachi

I meant your 2 moving averages.

I see now.

I dont know much about fibonacci. I mostly just try to guage key support and resistance levels.

For example, euro/usd croses below 144 (bearish) at 1.2070 indicating a test of support at 1.2000.

For example, euro/usd croses above 144 (bullish) after a hard bounce off support at 1.2000.

[TheWolf]

Originally Posted by psytrader

To All,

The 144 sma represents the equilibrium of the market.

Price AT 144 is neutral. This means you have the opportunity to ride a non- neutral trend AWAY from it.

To make this point further,...price will stradle the 144 in a range market.

Entry ideally is AT the 144 sma. Direction is based on what is hapening fundamentally and with major levels of support and resistance.

If someone will tell me how to do a screen shot Ill show you.

PSY

There should be a print screen button on your keyboard (top right), then you can paste it in paint. Your method is very interesting Do you use a stop on one of the ma lines in case of a breakout?

[psytrader]

Originally Posted by TheWolf

There should be a print screen button on your keyboard (top right), then you can paste it in paint. Your method is very interesting Do you use a stop on one of the ma lines in case of a breakout?

No luck with the print screen.

Im not sure I understand the question about ma stop.

[FxKitty]

I think what Wolf means is that prices do not always bounce off or move away the 144sma, and penetrating through it, so e.g. bears instead of bulls are in power. Do you do a stop and reverse?

I think that's what he meant anyways. :P

[zenseven]

Guys, Just use the system of Psytrader as a sort of second decision tool. Use your original system and stare at Psytrader's and in one day you understand what you need. System needs your discretion and support your original system.

[psytrader]

Originally Posted by zenseven

Guys, Just use the system of Psytrader as a sort of second decision tool. Use your original system and stare at Psytrader's and in one day you understand what you need. System needs your discretion and support your original system.

Zen,

100% dead on.

This system is a decision tool/guide/indicator/advisor/you get the idea.

Now that I have given all of you technical fornicators the blood lust for "all the answers in one tight package"

The answer is that you (and I) need to relate fundamentals to this.

What do I know about fundamentals?

Ehhhemm,....thats what I came to this forum to learn.


Im asking everyone here to help me relate this system, because if I can be between 60 to 70% successful now,...I can only imagine the posibilities if I had a grasp on world economics.

System

Put an 89 and a 144 closing simple moving average on a 5 minute chart

This system has 3 rules.

Rules


1. Bulls live above the 144 sma,...Bears live below the 144 sma.

2. 89 sma price barrier confirms continuation of trend, 89 sma price penetration "suggests" reversal of trend. (when in doubt,...get a sheet of paper and write rule number 1 ten times for doubting yourself)

3. DO NOT,... ON PAIN OF DEATH,...break rule number 1

The rules are in cement,....the entry / exit will change form here to eternity.

It is my contention that the rules do not need improving,...only our ability to follow them.

Regards

PSY

P.S. if you are looking at this today and are frustrated,...its because the market is in range from 10pm est. and there are no valid trades. as of 7am.

[tdeketel]

Originally Posted by psytrader

P.S. if you are looking at this today and are frustrated,...its because the market is in range from 10pm est. and there are no valid trades. as of 7am.

Guess the range is gone now, thanks to the chinese

Regards