Remeber this ystem is by no means unique to me - all it is is an ma/price system to trade price. I find the more I trade the more I lose faith in indicators....the only indicator I have on my screen is the RSI and occasiobnally I will take a snapshot on macd, momentum or stochs but really the whole point is to trade the price. Draw in your highs and lows, supp and res. Look at the trend and allow the rsi to guide you, but that is all. Entries are strictly determined by price action...you can adjust any of the variables....for instance if you want greter probabilty only enter on a close over the 10ema as opposed to the SD1 level break. Tweaka nd test so you own it and feel comfortable.......remember its not my system....its just a way of trying to trade the price as accurately as possible. Good Luck!
Have been following this conversation guys and I may be wrong but seems to me more like gambling and hard work at that having to sit in front of a sreen all day. The bottom line is what is Nija's pesentage success rate in terms om money banked as measured over a period of at least 12 months. Motivation for this question is that I have seen many guys getting wiped out of their capital on spread trading. Position trading on the other hand for me is much safer and rewarding.Opinions on this subject will be appreciated.
hi ninja I have been folowing this thread, i believe you have a lot to offer the forum, do you mind if we create a webpage with your trading systems on, that forum members can be refered to? reply to this message with your email address if you interested, we can discuss further, just a simple free webpage - nothing fancy
ninja i trade more or less the same system, only have stoch to see divergence on higher time frames, I set up my Daily Pivot points and from there i either buy resistance or support all based on price action,i trade the 15minute charts, and this nonsense that position trading is better is rubbish, especially if trading forex.
Asylum I never said that position trading is better. I said that for me it is safer and more rewarding as I do not have the courage and conviction to have to look at a screen all day with my finger on the trigger. I am still in the dark however, because Ninja has not revealed to me his percentage profit related to his portfolio in terms of money banked as measured over a period of 12 months. Please note also that profit should not relate to margin. Profit must relate to exposure so that we can compare apples with apples.
If you trade with indicators then yes position trade, but if you know how to read price action you will get in and out of a trade at a much better price than trading with indicators, by the time indicators give a buy or sell signal most of the move is already done and im talking about day trading here.
Asylum I trade /invest to make money but you guys are evading the profit /loss made out of Ninja's method of trading taken over a period of at least 12 months. The question is, is it sustainable and if so what sort of percentage profit are we looking at over a period of 12 months relating to exposure? Note "exposure" not margin.
Up, when you trade forex you trade against the world, no matter what platform you on. If you lost that cash blame your system, not the broker.Guys, please , use the system if you want to, leave it if you think its ***** or if you want me to publish my audited results. It works for me and I have more cash because of it. Please remember a system only works for a set period and may need to be constantly updated etc. Secondly, you shouldn't be trading 1 system only....that kind of thing doesn't really exist....you need to be trading trading.........supp/res....high/low/trends/retraces etc etc etc.....my system could earn you 10K today and lose you 10K tomorrow.....be flexible and remember....money management is far more important than your system....even the pros only get it right half the time.As always, may the charts be with you. PS, hope some of you caight the fantastic short on the ozzie today.......shorted off the upper resistance band for a nice little move down....watch for a close below 9945 or go short off the resistance level again if we get that far back up.
Many thanks Ninja you have answered my question. I rather stick to my position trading with on average around 37% "sustainable" gain per annum in my portfolio. I am to conservative to gamble with my hard earned cash. But if your system works for you then stick to it.