Okay, I usually don't just spill the beans to my trading system that I've been using for over 15 years now (just like that) but I am so tired of reading these message boards and seeing so much confusion and noise. It hurts my brain!!!! So, here's the answer to 9/10 trades in forex: Trade support and resistance on multiple time frames and divergencies on the macd. Hold for a small amount of time(usually intermediate 5-10 minute holds wait until price nears nearest resistance or support, cut your loss out and close shop for the day. Rinse and repeat and the more money you fund and the more profits you make, you'll one day be like me. Don't ask for balance sheets or account information, I don't give any of that out to the public.) If you ever get caught in heavy movement either your way or the other way, ride your win and just cut out the loss. For the win riders(i call them) cut trade off at next nearest resistance or support depending on whether it's a long or short. For loses, just cut off the trade, suck up the loss, close your system down and understand that's why I said this system is for 9/10 trades, not 10/10. You must trade macd divergencies AND s&r by studying a 30 minute, 15 minute, and a 1 minute charts. If everything lines up you have a near perfect trade. The macd and s&r don't always line up on multiple frames so you must understand that and you may have to wait sometimes until they all do line up. Patience is virtue. I know some of you big ego heads will call this "old news" but actually, this works. I've tried all your methods even that Jack Hershey chocolate method and this simple yet effective strategy not only feels very zen like in its simplicity, but it actually works.(Using it after my old trading partner Barney Harrolds in 1984 on the floor of the CME taught me about it when I was just an errand boy. Never quite knew what it meant until I became a runner) I have been trading for over 15 years for a private firm and now on my own I remember when floor traders were the only way to see the markets one on one. You didn't have this electronic shit. The comradery amongst the traders was great as well. This works for me and I'm a full time trader because of it so I'm finally spilling the beans because I am so sick of all these new guys coming out here trying to scam young guys and say that there system is the best. All it is is a bunch of useless noise. That's a shot to You, Puretick too. A disclaimer: Always remember that Forex trading involves risk and my method can be and has been wrong in the past and I have lost money with it. It's an imperfect system however it works more times than not and I've been using it for my whole trading career with mostly fine results. You must have a large account size for this to work in your favor. It sure won't hurt. -Jerry
Wait for it.......wait for it.......what is your credit card number? I saved this thread all the foreplay!
Nice try young man but I'm not here to sell a thing! My strategy has been put here above so it's now for anyone who is hurting or is seeking some form of order in the markets can try something new and simple. Whenever you see price making some serious buying progress always keep in mind that hungry sellers are waiting in the gallows to jump at that opportunity like a pack of hungry cougars. It happens all too often trading the euro.
A nice simple strategy but where does MACD divergence come in, I couldn't see any on that chart you posted, and how are you deciding where resistance and support are? Ditto on the 35m chart
Could you explain further, what you saw from MACD on these charts? I understand what you saw on S/R, but not getting the MACD part. Is it saying "over bought"? Thanks for your imput.
I do want to make a note that my silly forex broker has these interesting time frame lots. We get 35 minute, 4 minute chart styles but they really make 0 difference when trading them. I should have put up the 30 minute but to me 30 or 35 minute hasn't made one bit of difference in my trading so I figured it wouldn't matter. Thanks for the kind words cable, this thing works like I gem for me. Regarding divergencies, I did want to add and clear this up for another poster below you that asks for clarification. I do not trade directly off the macd. When I use the term divergencies, I suggest while contemplating your trade decision take in account what you're reading from the histogram in relation to the price but there's more to it than that. There's support and resistance on the macd. I understand a clear reading of the histogram isn't very visible on these charts I provided. I literally tossed these charts up in a matter of 10 minutes. The most important aspect of my system is support and resistance. It's the tried and true. I read and trade s&r off macd and price on multiple chart time frames. That's it. As I'm in my trade I'm monitoring how the histogram is treading along with price and if there are any anomalies that I should be looking out for. While trading this method is not a be all for traders, it provides me and the people close to me who are aware of it added confidence in their trading. A confidence that comes from simplicity, not complexity. While trading this system if you so choose to, be sure to expect the unexpected. Imagine you're a sniper in Vietnam. The environment in which you tread in is out for you. You must be coy and when you pull that trigger, accurate. Once you made the kill, you fade off into the wind like nobody even knew. That's how I equate trading in these uncertain markets with a little bit of order. You are highly trained at what you do and you make very little mistake. The margin of error for your mistakes is thin, very thin. That's why you need to be alert and ready to run when you complete your mission. My friends that's how I've made it 15 years in this game with little bruising. I've stayed on my mission, left when I felt I overstayed my welcome, and continued this without deviating 15 years later. Thank you Edit: I find it very sad that some idiot had to rate this thread 1 star. Shame on the person(s) who did that. What a damn shame. No need to punish my efforts by giving me a star. I tried to bring you guys an idea I feel that has been lost in this trading community. -Jerry
This is my last post to this thread. Use this thread if you choose to in order document your euro trades with this approach I've dealt. (I'm taking e-mails on possible names for this system, haha. Does the Jerry system sound too bland??) List your entries and exits while using this approach I bring. Here's one example of a trade I placed using this approach last friday: I checked the 30 minute, 5 minute, and 1 minute chart of the euro for support and resistance based off my previous zones and studied them for about 5 minutes to get in sync with the ebb and flows with this market. After doing this, I went over to the macd and charted the support and resistance on that as well. I saw a line up with support for both the 30 minute and the 5 minute as well as the macd 30 minute and 5 minute so I took a long order in the 1 minute time frame(waited for price to hit perceived support) and made $15,000(rounded up) from the large up move from 1.2504(3 pip spread fill) to 1.2554 I then walked away for the day and said to myself, "boy, does it feel good to be right as a trader" One last nugget for you all: Think of the macd as a microcosm of the actual market. Don't trade directly off it like it's the real thing but just keep your eye on it and it's s&r levels for perspective. I'd love to see some of you post your results using this approach. Remember simplicity>complexity -Jerry