GabbyJay's Forex Answer: How to Trade 9/10 Correct

[cabletrader]

Jerry, don't pay too much attention to star ratings, I don't know how anyone can meaningfully evaluate a thread or strategy from just a couple of posts and a quick chart.

Getting back to your strategy, can you be more explicit about what you look for both in price and MACD, perhaps an example of a trade set-up that you took where all the ducks lines up?

I'm not going to knock your trading system because it obviously works for you, but I've always thought of MACD as a lagging indicator and not a particularly accurate one at that, how exactly do you use it in your trading? Crossovers? Zero line? Extremes? And what settings do you use, the standard EMA's?

Another thing I noticed was that you use a line chart, why is that, could you not get more information from using bars or even candles?

Edit: Ah ok, I've just seen your post above.....shame, it could have been an interesting thread, there's never any harm in having an extra strategy or two in the arsenal!

 

[GabbyJay]

Last bit of advice:

I always like to cut my winners off before everyone else does. So if resistance is at 1.2550 and I bought at 1.2500 I will cut off at 1.2540ish depending on where I see a slowing of momentum. This little trick saves you from the big guys who are well aware of these resistance and support points and tend to mess with your head if you hold around those common s&r areas.

So, cut winners early. Cut losses early. In my book unless there's a strong trend that I'm riding I cut my winners short just to be safe and I haven't lost doing that.

I don't believe in that motto "let your winners run" because you never know when the action stops. Be safe people, be safe. Less is more in the long term unless like I said you're riding a trend.

-Jerry

 

[cabletrader]

Quote from GabbyJay:

Last bit of advice:

I always like to cut my winners off before everyone else does. So if resistance is at 1.2550 and I bought at 1.2500 I will cut off at 1.2540ish depending on where I see a slowing of momentum. This little trick saves you from the big guys who are well aware of these resistance and support points and tend to mess with your head if you hold around those common s&r areas.

So, cut winners early. Cut losses early. In my book unless there's a strong trend that I'm riding I cut my winners short just to be safe and I haven't lost doing that.

I don't believe in that motto "let your winners run" because you never know when the action stops. Be safe people, be safe. Less is more in the long term unless like I said you're riding a trend.

-Jerry

Hmmm, shame you wouldn't (or perhaps couldn't) reply to the questions....and the advice you're offering above is a bit novice-like for someone who's supposed to have been trading for 15 years which might explain your hasty exit from the thread you started, in order to avoid more awkward questions about your apparent success with this strategy.

But then that's just my opinion, I tend to get a little skeptical when people start making irrelevant comments about their trading strategy like "...you'll one day be like me...", "....Don't ask for balance sheets or account information....", "...made $15,000...." and "....boy, does it feel good to be right as a trader"....., they sound just like the type of things a loser (or a troll) would say on a forum to be perfectly frank. Are you a loser and a troll 'Jerry'

My rating for this thread amended accordingly.

C'ya 'Jerry'

 

[davidmaria1]

EUR/USD traded in a range on Friday from approx noon till close, eastern US time. Tradeable, but not enlightening as far as methods go. I guess I was hoping for some heavenly light to shine down on my sorry arse. I hate to flame someone, seems to only start more shit,

 

[GabbyJay]

Quote from cabletrader:

Hmmm, shame you wouldn't (or perhaps couldn't) reply to the questions....and the advice you're offering above is a bit novice-like for someone who's supposed to have been trading for 15 years which might explain your hasty exit from the thread you started, in order to avoid more awkward questions about your apparent success with this strategy.

But then that's just my opinion, I tend to get a little skeptical when people start making irrelevant comments about their trading strategy like "...you'll one day be like me...", "....Don't ask for balance sheets or account information....", "...made $15,000...." and "....boy, does it feel good to be right as a trader"....., they sound just like the type of things a loser (or a troll) would say on a forum to be perfectly frank. Are you a loser and a troll 'Jerry'

My rating for this thread amended accordingly.

C'ya 'Jerry'

Young man I'm not sure why you're trying to pick an argument with me but I'm not interested. Direct any questions you have to me on private message.

I ask for mods to now lock this thread for simplicity purposes. Less noise and more focus on the root of my system. Thanks

 

[cabletrader]

Quote from davidmaria1:

EUR/USD traded in a range on Friday from approx noon till close, eastern US time. Tradeable, but not enlightening as far as methods go. I guess I was hoping for some heavenly light to shine down on my sorry arse. I hate to flame someone, seems to only start more shit,

By the looks of it 'GabbyJay Jerry Springer' is just another forum troll, probably one of the ones with a dozen different usernames who get their jollies posting garbage.

They're harmless enough I suppose, some are even quite amusing, just not this guy!

As for his 'buy-support-sell-resistance-off-a-35m(lol)-chart-using-MACD-divergence-but-not-divergence-and-cut-winners-early' strategy, well what can I say, trade it and one day you'll probably be like him unfortunately

 

[euclid]

Quote from GabbyJay:

made $15,000(rounded up) from the large up move from 1.2504(3 pip spread fill) to 1.2554

Only 30 lots. I'm disappointed.

I imagined that 15 years of compounding such a successful method would lead to a bigger account.

 

[coolweb]

as someone who trades, what gabbyjay treads on valuable information , diff multiple time zones need to line up to get the

a) small risk
b) large reward from the higher time frame


I trade exactly like this except i don't use macd but pure price, macd can work.

 

[HSC.1775]

Quote from GabbyJay:

[B. . . unless there's a strong trend that I'm riding I cut my winners short just to be safe and I haven't lost doing that.

I don't believe in that motto "let your winners run" because you never know when the action stops. Be safe people, be safe. Less is more in the long term unless like I said you're riding a trend.

-Jerry [/B]

I the first paragraph you advocate getting out of a a trade unless you are in a strong trending market. Then, you confirm that one never knows when the trend is about to stop in your second paragraph. Interesting.

 

[TraderZones]

Quote from GabbyJay:

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 ...
-Jerry

Do you trade with the same brilliance as your previous thread you started titled ›› Can women breast feed with implants?