[mfondren]

I am very anxious to hear more about this system !!!
Put it up in a window beside my usual system today - did MUCH better than usual -
just basically using the trigger buy/sell when the AO is above/below the 23 day
moving average and the MACD crosses
May have just been an odd day but it almost works out to be a SAR system !
You said you use the rainbow indicator 50% - for exits I presume - I was watching
for the AO to go under the MA and/or MACD crossing for exits - I don't have the rainbow
indicator available and was using a similar one with a series of Hull MA's
Didn't look at the A/D much but am guessing you are using it to get an early heads up/confirmation of market direction
Please post more details on how you trade your system ! Today would be good - yesterday would be even better ! LOL Thanks so much for the information - kinda excited about using it tomorrow !

[psb67]

Originally Posted by mfondren »

I am very anxious to hear more about this system !!!
Put it up in a window beside my usual system today - did MUCH better than usual -
May have just been an odd day but it almost works out to be a SAR system !
You said you use the rainbow indicator 50% - for exits I presume - I was watching
f
Please post more details on how you trade your system ! Today would be good - yesterday would be even better ! LOL Thanks so much for the information - kinda excited about using it tomorrow !

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

[psb67]

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

[psb67]

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

[brownsfan019]

psb - you should join us over here when you are done for the day!

[psb67]

Originally Posted by brownsfan019 »

psb - you should join us over here when you are done for the day!

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

Healthy And Wealthy Trading

[psb67]

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

[mfondren]

Hi again psb67 !
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 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
I also use two CCI's in one window - 14 and 50 - when things are smooth they get me in a little more quickly and also help to enter in the middle of a MACD trend - Also use MACD crossover with a MA4 - when there is the least bit of chop I wait for the MACD to cross its long term MA
This morning I dropped down to the 1M chart and traded most of the day with that - made money trade after trade ( this is all GBP/USD ) - Your MACD with that longer term MA smooths it out and it trades like a 5 or 10 minute chart !
R/R Excellent ! Win/Lose Excellent !
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 !
How do you get your profit targets ? Fibs ? I need to look at that - haven't seen a good exit point from the indicators yet - sometimes just the MACD works - wait for it to flatten out - but not sure yet if that would work in the long run - the built in delay that is so deadly for entries is slow to show an exit
Again ....... can't thank you enough ! My trading has staged an absolutely amazing turnaround - thanks to you !
BTW - 54 pips yesterday - 83 today !