keifer

here's an update to the method I use. please note I'm not using this chart setup anymore and have moved on to using renko. the concepts still apply though. http://www.mediafire.com/view/?1yy8r6veqy8y697

Will update it when I can. I've moved on from the original version of this method. I use renko and market profile now so the chart setup is different. The concepts of trading using multiple time frames, cycles, entering on pull backs still works so is worth sharing.

Fulcrum Module Pring KST Package Strategy Wizard Woodie's CCI http://www.mediafire.com/?0llb96lxljareal Chart Pattern Recognition http://www.mediafire.com/?otyjqg8f6to3lrs

http://www.mediafire.com/?8f25inne9lpxulg

Can add friendlytraders.com to that list. They suck. II rules!

Looks like the friendlytraders crew have done a snatch and run. Website no longer up. I wonder if they are the same people who started TradersZone. Seems like another carrot dangling enterprise.

Hey Danyalati You're right about AUD. it isn't correlated with EUR at all at the moment. I've had to adapt my approach for current market conditions. I recently read Dave Floyd's book 'how I made triple digit returns' and realized a lot of what I've been doing is very similar to his approach. His edge was to use the S&P Futures as a lead chart for the stock he trades. The S&P would move just a bit sooner than the stock so he had a preview of what is about to happen. When it worked the EUR would lead the AUD. I'm sure there's other correlation's out there to be exploited in the same way. I've incorporated some of Dave floyd's ideas and simplified my approach for scalping EUR/USD. I've put together a doc explain the basics and to answer some of the other questions. http://www.mediafire.com/?n0dpk438du265wb

The scalping method I use was developed through trial/error. I only trade AUD/USD when it is strongly correlated with EUR/USD. you can check the current correlation on MATAF. My broker has a 1 pip spread on AUD/USD. I use Oanda charts. To get a feel for a trade, I use the 89 EMA as a long or short filter, above it for long, below it for shorts. If it’s above then I’m looking for a pull back into the buy zone which is between the 10 and 20 EMA. I like the long/short filter to be in agreement on at least 2 time frames 1m and 5m or 5m and 15m. If they aren't in agreement then price is most likely consolidating and I'll start looking for breakouts. I use these moving averages as a guide only and a quick reference to see where price is at. I’m not looking for MA crosses. Before a trade I’m mindful of where the S&R and pivot levels are, if price is near a key level 00, 25, 50, 75, how much daily range is still available, what the current active wave is using fibonacci. The other indicators on the chart: ADX, RSI, Stochastic, MACD are secondary and just used for reference. For long trades I like on the 1 min EUR chart for the ADX to be above 20 and rising, RSI above 50 and rising, Stochastic hooking up from below 20. These are all secondary and used more to stay out of a trade if not showing what I like to see. I’m mostly looking for setups on the 5 sec EUR chart which works as a lead chart. It will sometimes move a bit sooner than AUD so can give a bit of an egde into a move. The trades are taken on the AUD/USD chart. I also have a 15M AUD chart up for reference of S&R levels. I’m looking for correlation between the EUR/USD, USD/CHF, and GBP/USD. The GBP is not so important, but it adds extra confirmation when it’s moving in sync with the EUR. I’m also looking for price pattern setups on the EUR 5m and 15m charts – failure of price to make a new swing high or low, followed by a reversal. Other trade ideas include fib plays, momentum moves, MACD divergence on higher time frames, and breakouts. Mostly I watch the price action and wait for the candles to hammer out a range. I’m looking for price to show some momentum which will be evident when the candles open and close at the extreme of their ranges. I won’t take a trade on the AUD unless it is confirmed with correlated movement on the EUR and opposite movement on the CHF. I’m looking for the trade to go in my favor straight away. If the momentum dries up on the EUR lead chart then I’ll cut the AUD trade for a small profit, breakeven or worse case a small 1-3 pip loss. Most losses are -3 pips... occasionally I’ll let it run –10. Looking for 10-20 pips profit, more if momentum is strong. Hope that gives you some ideas.

some... a bit slack when it comes to record keeping... have the latest statements for bank/broker. pm an email and you can see those if you wish

wouldn't say I'm rich from it but can report small consistent gains. Have taken 4 small accounts starting with £250 each to around 12k in about 4 months. Need to keep changing brokers though as eventually they put me on dealler referral which limits the outcome. Started out trading £1 per pip and currently doing 3-4£ per point. hope that offers some encouragement to keep working at it.

Re: Leechers of FriendlyTraders amongst us There's a trader on the as1 site who has most of FTs top indicators and software. He sells the collection for $1500. Not cheap, but as their are many members here we could all pitch in say $1 each and buy it to share on here. Maybe a moderator can arrange it.

Re: Leechers of FriendlyTraders amongst us Here's how it works... they give their mates 30000 library points for some crap software or course. When you submit you get 1500 if you're lucky. I submitted a course which one of the moderators offered a 1500 reward. Instead he gave me 150 for it, nice! I wouldn't be surprised if the mods start selling their stuff for profit. I for one won't be contributing to it.