JBI

JBI Trading System Setup: XAUUSD 22/7/2014

FX:XAUUSD   Gold Spot / U.S. Dollar
152 4 2
SETUP RULES:
Long position - price closes in the green circle or a significiant breakout (entry before closing, more aggresive)
Short position - price closes in the red circle or a significiant breakout (entry before closing, more aggresive)
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What do you call this kind of analysis of close-only charts? I'm curious how you could get 2-thumbs up votes when there isn't any analysis on the chart.
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JBI timwest
Well. What you call analysis? Do you really know how professional traders in banks work? Do you really think their abilities are based on indicators? This is idea is just a projection, you can compare it e.g. with my EURUSD idea, because no pattern was created there after the "Ghost". And I use close only because it filters unnecessary information.
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Well, since you asked me. My answer is Yes. I do know how professional traders in banks work because I worked there in order to learn how it works. But my question was a simple one - and you explained yourself nicely down below. "There is always supply and demand. And the price is just oscillating between these two zones. ... etc" That is analysis and that is what I wanted to read. Just an understanding of what you were trying to accomplish. All the best to you and hope you do well. Best regards, Tim
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JBI timwest
And also - believe me or not - it is up to you: I have tried nearly all indicators, I have learnt nearly all candlestick bar patterns etc. I thought there is something, what will show me the way to the profits. What I have learnt so far - entry is found easily, but exit? One trade can make 1000USD, another 100USD. And the comissions for ordinary traders are so big to start trading like the high speed bots of the banks do. So I have returned to the system, which has my granpa taught me - he was a banker and successful trader:
There is always supply and demand. And the price is just oscillating between these two zones. The two lines make a pattern. After one pattern gets broken, price sets up the next one. And being able to find it makes your profits. And with enough skills, you can predict the next one, or you can enter the trade before the price goes into your direction. This idea is the example of prediction. And believe me or not - it is the system that always works. And that makes incredible profits.
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