targus

The only thing I have so far found are harmonic patterns, the 4hr bearish eur/usd pattern appeared yesterday and I have been short with it since then.

This is for I'm Done...also for Newbies...bear in mind I am still a newbie but my success with the following method has been pretty good to say the least. Two attached charts, Daily and the 4hr timeframe. Indicators on these charts are: Korharmonics and Zup92version, these are harmonic Gartley pattern indicators, you need both, you can download Kor at the Ampzone and Zup at forex std. Compassfx, is where you can download the Stochs (when red crosses green on the 4hr timeframe and you have one blue ashi candle - this is a buy signal). Mouteki indy over at FF, useful. (just a take on DeMark). Fibs, google mt4 fib extensions, you will find generally price will honour the fibs, only trade at a minimum the 4hr timeframe and enter on this timeframe, only in the main trend direction of the daily timeframe. If your entry is a bit off or a sudden news spike comes out which they often do, the daily, your main timeframe will pull you back out of trouble, albeit this may take a couple of hours or the rest of the day. Be calm. Do not use a stop loss, use a mental one as they say or at least 2/300 pips. Gbp/usd is the best pair to trade, she is very skittish, but you will get large pip runs, your stop loss needs to be wide or none. From the open if cable goes either way more than 40pips she usually carries on in that direction for the rest of they day, I read this probability has more than a 75% outcome, I found this to be the case. Open a £200 a/c with Oanda and a demo with xyz for your charts. You need to open a real account to feel the pain at a comfortable level financially until you have a greater understanding/respect and belief in yourself and your systems. With a £200 a/c your per pip value will only be worth £0.35p approx., no big deal, but this little method can double your £200 in a short while and swell your experiences, You cannot blow your account with Oanda as they limit your maximum loss to 2.5% so you stay in the game longer unlike most other brokers. You will also see a regression channel indicator and how price respects this on my charts, all of these indys are freely available. I attach a pdf for Trading in the Zone, by Mark Douglas, whilst there is a fair bit of fluff in this book, it is nevertheless a very worthwhile read. On the daily chart you will see a Head and Shoulder pattern that occured on the daily timeframe which has been lurking around for many days, this alerted me to the fact that a big drop would happen I just did not know when, however, when the 4hr timeframe told me to sell this was the when, over 200pips. After this very nice drop I waited for the signals to buy, these signals came in with a harmonic pattern/green crossing red on the synergy indicator. I am now long. On Monday we have the news coming out with Greece so on this occasion I would of course put a stop loss in at say 150pips if I could not be at my screen. You can trade this system with a job. Like you, whoever many you are, I look forward to hearing about other systems that exist with our fellow traders who are far more experienced and profitable, sadly none are forthcoming as of yet. My wish is that the above will help someone as it has for me for many months now. Trade well and prosper. 4 hour trend lineMOUTEKI.doc Mark_Douglas_-_Trading_in_the_Zone.pdf

Forgot, only trade the 4hour timeframe in the main direction of the daily!

Synergy is just yet another ...way of trading, there are many, synergy is the name of a system developed by some guy called Dean Malone who many say is another snake oil etc., but he has his followers at $/£ per head so it is a nice pay check for him etc., over at FF 'forex factory' a guy has adopted this method and called it his own by the name of 'Trading Made Simple'. It seems to work, provided you use something else as a confirmation to take the trade, for now I also use a Mouteki method to enter a trade which is basically a trendline trend method. MM stands for money management, ie., do not use more than 1/2/3% or your cash, this way you will stay in the game for longer, not blow your account while you iron out your mistakes no doubt. Fibs are fibonacci, which I find very powerful and always have them on my charts and my best indicator as to where price is going, hook over is when the stochasticts starts to curl over, its time to exit. The attached chart is cable, gbp/usd which is possibly just about to go long after a big drop, Mouteki has had a signal to buy for some while now, however, I will not enter until the Ashi candles go blue, 1 or 2 blue candles, AND the bottom Stochastics (synergy) green has crossed red, then I will go long and place my stop loss asap as the trade moves in my direction. I use a demo account for charting purposes and place trades with Oanda. With Oanda you can just put in as little as £100 or preferably a bit more ie £300 and start trading, with Oanda you are not allowed to use more than 2.5% of your equity anyway, nevertheless, you will quickly build this up if you follow the above. Oanda are good as they offer a speedy platform, bona fide registered broker, if you are trading gbp/usd do not use a stop loss unless it is something like 300pips!! because of the spikes, stay firm when these happen. When you are really comfortable open another account where the leverage is much higher.

Here is another example, I was long on the 4hr and exited near the top fib. The mouteki indicator (not always reliable) also gave a projected signal down, synergy started to hook over, when cable reaches near the bottom fib or more importantly synergy signals a buy I will be long again today or tonight. The daily is bullish with a bull cross and synergy is pointing to the upside, many times I will place a trade on the 4hr and nearly always get my pips.... Hope this helps other newbies like myself out there, I have been trading this system for some months now and every week I easily get 200 pips if not more on cable. Until I find something better and while I am still learning this is my full system, so lets help each other and Mark of course, show your systems not words, your full systems, MM is not even worth worrying about if you have no system and no edge, show this forum your edge with real charts, what, where and why, just like I have done here...

Mark167 I use the attached and it works most of the time, I add other things to it just for comfort, you can download the free synergy compassfx, you would be hard pushed to fail with this little set-up. I trade the 4hr and make decent pips week in week out, so go take a look for yourself.

The only decent ones I have found are 2 or 3 at forex-std and they are free, Candlestick-v1 is very good, however, it repaints, on the 4hr t/f it is excellent.

Phew...I have finally got to the end of this thread. Looks like a pretty straightforward way of trying to trade, there is some credit to anyone offering some or all their coded indicators/systems. As a newbie trader myself, I would find blindly following anything too stressful, by this I mean it is important to understand and see the bigger picture in forex and why what is happening on the lower timeframes and time your entry/exit. The methods I have found that bring this bigger picture and an improvement for making profits and pips of somewhere in the region of 200 per week for me are trading patterns ABC / trendlines / sr etc on the gbp/usd in particular demark. You can get knocked up versions of demark at no cost. Demark TLs will show you on the weekly/daily where price is heading if not now then eventually, so if your initial entry is off you will eventually come right, when to enter on a break on the 4hr/dly. Harmonic patterns can be found at KorHamonic and forex-std where there are some great coders for demark. Everyday a currency pair will put in it's range, from the open if it goes up by more than 45pips I have read it usually continues in that direction with a 75% accuracy, which I have also found to be the case. Hope this helps someone...

What a truly wonderful epic answer, I salute you. You are quite right about Oanda, I trade with them and risk no more than £0.40p per pip so I can afford a round trip if I am wrong. I use Fxpro for my charting. You can put in say £100.00 with Oanda and if you do this perhaps work too, by using the indys I mentioned earlier, Demark and Mouteki on the 4hr timeframe especially gbp/usd as it MOVES you will quickly build up a nice little account. For example, I had a reversal signal three days ago, am still waiting for a big reversal on this pair going off the 4hr and Mouteki signal, however, cable has decided to blow off today further up! I will not move until she has her big reversal to somewhere 1.6220 area and then wait for mouteki to signal a buy again in the main direction as indicated on the daily/weekly, when she does I will buy again with a tp target and no s/l. The end game is to win while we learn, these indys have helped me understand and keep me on the winning side for some while now.

I very highly recommend Tom Demark Books, you're probably aware he sells his 17 and counting indicators for serious money, I understand you cannot buy them now and must lease them through Bloomberg etc., however, there are many knocked up versions on the other forums forex-std etc. I prefer the Demark indys to Mouteki, Demark indys show you your targets and along with another indy I have for s/r it all makes sense. I will try to figure out how to attach a chart for you. I have read of many people blowing their account or just simply not earning enough from it, get a job, then go back in, I think perhaps you and I are in this category. I have been trading for 1.6 months and it has been terrible, early days for me, but I must say since I found DeMark I am a little more confident and as far as indys are concerned I will use whatever it takes, no snob here. I wish you well my friend.

Here is my chart as of 15.15 gmt 26/05/11. As I post this I am waiting to re-enter to the upside, I have been studying the Tom Demark way and located this handy indy (which is built around Demarks TLs) to help me as a newbie quickly generate some excellent pips every week if not every few days, so while I earn, I can still afford to keep learning and pay the mortgage!! Try it. I am trying to attach my charts, hope they arrive.

Have you tried the download indy by mouteki over at ff in his attachments, it isdesigned around the Tom Demark indy, it helped me stay out of bad trades and kept me in good ones, it helped me turn the corner somewhat and learn very quickly about TLs, I now regularly get upto and over 100pips on the gbp/usd. Worth your while, before you go..