Here's a free e-book for trading daily charts

[Peace Lover]

Do you trade your system on the 1 hour chart? Or do you have a good system for the 1 hour chart.?

Peace

[michael dunbar]

Originally Posted by Peace Lover

Do you trade your system on the 1 hour chart? Or do you have a good system for the 1 hour chart.?

Peace

Hi. This is purely a daily system - don't use it on the hourlies unless it's part of a wider method.

I am currently testing a breakout system on the 30 min charts for Gbp/Jpy. I may share if I find time this summer to write another ebook. My forex rebates site is keeping me pretty busy at the moment.

[michael dunbar]

Originally Posted by Jorge Mario

Hello, I´m a new here but I have been working in the forex market for 2 years without satisfactory results and I´m searching for info about mechanical systems,

regards

The 8and8 method is a good place to stop looking. Demo trade, take the emotion out of trading and get some confidence in a system. There's nothing wrong with reading as much as you can but don't hop from one method to another.

Just friendly advice - it might help you.

[michael dunbar]

USD/JPY proved a good opportunity today. The cross got us back into the prevailing uptrend. Np t/p for this trade - using the 70% ATR trailing stop

[michael dunbar]

GBP/USD is up 67 pips from the open on 7/7 but concerned at the triple top and extreme RSI. Will watch the price closely on Monday. Stop is at break-even now.

[et_phonehome_2]

Mike

Do you think the EURUSD maybe another potential trade opportunity? The RSI/MA is on top of each other....

[michael dunbar]

Well, the GBP/USD keeps motoring and bagging the pips!

ET, I haven't got in on the EUR/USD yet as it's not showing much downward movement and the trend is so strong ATM. The fact that the RSI is high and there hasn't been a short in ages makes it very tempting but prefer to see a move lower before going with it.

[et_phonehome_2]

Mike,

If one had missed the initial long entry for the GBPUSD using the 8and8 Band Method, would you suggest one to use some other method or how would you use the 8and8, if at all?

As for the EURUSD going short, would you suggest wait for the RSI to drop below 50?

ET

[Lola]

hi,michael dunbar

do you have any forward test result's?
if so, would you be so kind to share them?

Thank's

[michael dunbar]

Originally Posted by et_phonehome_2

Mike,

If one had missed the initial long entry for the GBPUSD using the 8and8 Band Method, would you suggest one to use some other method or how would you use the 8and8, if at all?

As for the EURUSD going short, would you suggest wait for the RSI to drop below 50?

ET

First point - if it has shot up, leave it. If not, it really depends on the strength of the signal.

Second point - I'm only looking at going long on EURUSD until I see a trend reversal on the weekly charts. RSI numbers don't factor into it for me. Only price.