psb67

Hi MF, Hope you are enjoying your weekend. Your tone however exhibits you are really enjoying your weekend. <<Psb67 - I went to several other sights where you post and was very impressed !>> Glad to note you spared your time visiting my posts. <<As always - Thanks so much for your insight and help ! >> I assume my role, either you call it as a facilitator or light house to provide direction and help to you and my fellow traders understand trading and them (YOU). You must also learn to only thank God and yourself at the end of every trade. Thanking me makes no difference. <<Also - all constraints aside - social obligations, sleep etc. aside - what hours would you prefer to trade>> My most preferred trading hours: Beginning and End of Asian, European and American hours. I avoid news hours. In between I work with Indian Stocks, play free cell, listen to my fav. KennyG and sleep for an hour. <<As I said before, I use the CCI 14/50 ZL crossover a lot>> I stopped using CCI because it does not suit my temperament. May be due to my age factor. lol I like Stoch with higher numbers. <<I am retired and could trade 12 hours if I wished but ....... not with focus - not effectively - what are your thoughts on this ?>> Once you and your system have established a kind of synergy, and you have accepted it's you not just the trading system that makes your trades win, that may take some time, you would not be required to sit for whole 12 hours. On the other hand, over stressing yourself will have dire effect on your trading. I would not advice you to sit for 12 hours. Frankly not required. If you are into trading because you are retired, then change that mind set. It will have great impact on you. <<I am using the AO but am becoming persuaded that the A/D is more accurate - less noisy>> Recall what I said about my purpose of using AO. I use it primarily to measure the strength and weakness of rise and fall. On the other hand, A/D performs a different role. If you take a close look at my today's 15M chart, you will get my point. Have a nice day. Regards to all of you. Healthy And Wealthy Trading.

Hello Friends, Hope your weekend is going well. Looks as though the present trend of Pound will continue for few more days. Attaching here my gbp/jpy charts for your understanding. Healthy And Wealthy Weekend Healthy And Wealthy Trading Sureba67

Hello friends, Hope everyone is doing well. Attaching with my usual gbpjpy, eurusd charts for your understanding. Healthy And Wealthy Trading

Hi MF, It's always heartening to listen to even a single trader sharing his experience, both positive as well as negative in a public forum so openly; it helps both the concerned trader as well as the person whom he/she addresses. It helps in a such a manner to improvise further. Coming to your point, 1. <<How do you get your profit targets ? Fibs ? I need to look at that>> I set my targets, reasonably - for gbp/jpy - if scalping, 20 to 30 pips per trade, if position trading min. 100 pips. At times when I see the trend is reversing, I won't mind getting out with even 10 pips. Once my expected target is achieved I close my eyes until I get a next chance. I won't bother even if it runs 100 pips fr. where I made my exit, unless I get clear entry. I never chase the trend. 2. <<As I said before - I do not have access to the rainbow indicator and my substitute really didn't tell me anything new - didn't use A/D ( used Williams A/D ) until today - with the addition of your moving average it helped a lot>> Try to Make your life easier and enjoyable while trading but always have high dreams. It's not your system that makes your winning trades, mind you, it's YOU. The system only plays 20% on your entire trading. All you need is couple of bar charts with EMAs, MACD, AO and CCI with SMA (it's too sensitive) or even Stoch with higher nos. is better along with Fib. I have Rainbow, undoubtedly it's an excellent indicator. Don't bother if you don't have it. Don't try to replicate it. Not required. 3. <<Have to tell you - when I first saw your post I was thinking " Oh Boy ! Heres the 142nd set of MACD magic settings I have seen this week ! " So glad I tried them !>> I love this part. This attitude always helps improving one's self. Just imagine in the last 3 years, how many such indicators I would've worked with to reach today's level. It takes time my friend. I respect your conviction, commitment, involvement and interest. The most essential 2Cs and 2Is for any man/woman to become successful besides being a responsible trader with lot of greed. (Read my blog about my understanding of GREED) 4. <<I have used your system for several days now - I was trading on a small time frame and was amazed to back off ( 15m chart ) when the day was over to see what lousy days they were ! That being said - they have been the best days I have had in the markets in as long as I can remember !>> As I had mentioned often times, every system is unique, it's not mandatory the system that works for me should work for you. If you want to make it work for you, you must blend with it, for that you must observe it, fine tune it until it suits your real temperament before placing your first order. To share with you, when I pick up a currency pair or a stock, I observe it, at times even couple of weeks until I am convinced I am comfortable with it. If not, I forget it, however great it is. Now, you know why I love gbp/jpy and usd/chf. I follow a 21 days formula that I devised when I was a marketing consultant to chose my pair or a stock. My advice: Work with one or two pairs. Avoid tracking every pair that moves up and down. If your pairs do not give any trades for the whole day or for few hours, consider that day is a holiday or for few hours, time for relaxation, go out with your gf or to be on the safer side play Freecell. With Freecell, you can preserve your wallet and improve your concentration. lol For scalping, Use 1M chart with MACD, CCI with SMA or Stoch, AO. Use 5M and 15M for trend direction, Fib for S/R. You must have real patience if you want to use MACD or CCI or Stoch with higher numbers. I notice you have already started getting used to it. IMPORTANT: Once you have achieved your day's target, say whether in 1 trade or 5 trades, close your trading application, do something else. Once you start doing that, you will experience the true meaning of life. <<Again ....... can't thank you enough ! My trading has staged an absolutely amazing turnaround - thanks to you ! BTW - 54 pips yesterday - 83 today !>> Thank yourself for allowing yourself to really work seriously for the first time with the sole intention of winning your trades and improving your spirits. My losses were my investments. We all tend to ignore this fact. Healthy And Wealthy Trading

Hello friends, Yet another highly charged session with huge volatility, with good chances for scalpers. We could not do more than 4 trades since I was not keeping well. One was a real bad call but in just 3 jumps my target was reached. I had never seen in one shot 30 pips jump in gbp/jpy as I had seen today. Only later realised it was due to the unexpectedly positive data released at that time. I violated my own rule, "Do not force yourself to trade when you are not mentally, physically fit". It was a chance I took. We called it a day with 55 pips with no losses. Healthy And Wealthy Trading

Thanks Brown. I will join you there. I am sure, I will improve a lot with you all around. Healthy And Wealthy Trading

I am attaching here my M1 and M5 GBP/JPY charts for your understanding. It's a real fun trading gbp/jpy, esp. scalping. We did so far very well and we are calling it a day. I regret the idea of using web based IM Meebo in my blog didn't strike earlier. Healthy And Wealthy Trading

Winning Strategy - My Personal Experience It's more essential to work on yourself to get 100% positive result with accuracy than just working on your trading system to work for you accurately. In simple words, 80% work on yourself and spare 20% on your trading system. Once you start practicing this, even if you don't want to win your trades, you will win because, it's not your trading system that's making your winning trades, it's YOU. Healthy And Wealthy Trading

Hi MF, Thanks for your reply. In fact, couple of forex brokers showed keen interest on my system and they wanted to make autotrader out of it. Only I don't believe in autotraders. My aim is to achieve at least on an average 20 to 30 pips per trade with minimum drawdown. In trading, there are no would have been, could have been and everyday is a new day. Frankly, one of the reasons I am not making big noise about my system, although it took lot of efforts to form such a wonderful system to suit my trading temperament and it is working well for me, the system that works for me, may not work for others. This is an universal truth. That's why, I had started a Real time Free Scalping Calls for my friends instead of trying to explain them the whole system. Besides, this is yet another reasons I leave it to my readers to interpret the system so that they can fine tune it to suit their trading temperament. Most of my entries are based on strengths and weakness of the price movements. MACD and AO are excellent in identifying the same. If you had noticed I use higher numbers in MACD in order to avoid whipsaws as GBP/JPY is prone to move erraticaly. Rainbow helps me with S/R and trend direction. Since I am from Stocks background, and have been in stocks since 1992, I exit when my target is achieved, I don't bother about where it goes fr. my exit. I wait for the next turn. Healthy And Wealthy Trading

Hi Friends, My today's GBPJPY 1M Chart. Regret could not post earlier since I was busy on a long telecon with my friend from US. Healthy And Wealthy Trading Sureba67

Paul, It's a Rainbow Indicator for MT4. There is no big secret involved in my system. It's a matter of how we fine tune our system to suit our temperament. In my trading, I don't depend 100% on TA alone, perhaps that's one of the reasons I am being to some extent successful in my trading. I am learning, I don't mind being modest, to exploit this system to the fullest extent for my Equity index as well as forex trading and share it with you all. Healthy And Wealthy Trading

Hi Trader, Perhaps this is the first time, I am hearing a lovely name, "Gooey Orange Indicator" lol Thanks anyway Trader. I will try to be brief and succinct. 1. Pivot plays 10% 2. AO,EMA-200 & MACD 40% 3. The Gooey Orange Indicator 50% The whole combination esp. in 1M makes tremendous impact. esp. with GBPJPY & USDCHF. My most fav. pairs. At least in a day, conservatively speaking, 2 times you get a chance to make a min. of 50 pips each confidently and assuredly. Healthy And Wealthy Trading

Hi Shopsmart, Thanks for your reply. I would be more glad to explain my system to you, if you would be kind enough to share with me what do you perceive from my charts. Once you understand the functioning of it, you can make even if you don't want on an avg. 50 to 100 pips a day. Healthy And Wealthy Trading

Day trading, perhaps the most interesting at the same time highly testing a venture of all trading methods. I wanted to share with you all the trading system I follow, which I found to be highly interesting. I have attached 5m and 15m charts of GBPJPY & USDCHF of today's european session. Healthy And Wealthy Trading