[PURCHASED + GET] Caroline Ayuk - Forex Trading: Proven FOREX Trading Money Making Strategy - Just 15 Minutes-a-Day

[casdon]

Cadchf has triggered too. Nice strategy

[jackpinion]

Another $470 in profit with EUR/JPY.

[jackpinion]

CAD/CHF triggered but according to my MTF Alligator it's consolidating on the Daily and Weekly timeframes. I wouldn't get into it until those two charts are also pointing down.

[casdon]

Jack please what's this mtf alligator you keep referring to. Please can you throw more light on this

[jackpinion]

Why not just read about it with a few Google searches? LOL.

First? You have to know what the Bill Williams Alligator indicator is and what it does. These three articles explain THAT:

https://www.forextraders.com/forex-educa...explained/

https://www.forextraders.com/forex-educa...-strategy/

https://www.forextraders.com/forex-educa...-settings/

Now please make NOTE... I do NOT use the regular Bill Williams Alligator indicator on my charts... Since I know the Alligator DOES in fact WORK? I use the MTF (multi-timeframe) Alligator instead and I use it SIMPLY to tell me what the TREND is doing on ALL timeframes BEFORE I ENTER a trade.

The MTF Alligator displays M1 through W1 timeframes right on your chart. I wouldn't enter a buy or a sell trade on the daily chart until I can clearly see the 4 Hour and the Weekly chart moving in the same direction ALL at the SAME TIME.

That's just the way I use it... It's a FREE indicator you can download for the MT4 Platform simply by clicking on the 'Market' tab underneath the platform and performing a search for it. You can configure its colors or where you want to place it on the chart. I just use it for CONFIMATION of the trend on the timeframe before and after the timeframe I'm using to enter trades on.

Here's an image of me using it on my platform:



This is a relatively current image of CAD/CHF (ignore the file name above--I clicked on an image I already had in a folder to name this image instead of typing it in).

As you can see even though the trend is currently down according to the candles (I use Heiken Ashi candles), the MTF Alligator on the Daily and Weekly Charts are Gold which for MY MTF Alligator means CONSOLIDATION.

IF I were going to enter this trade? I would personally wait until at least the Daily MTF turned magenta in color. I'd like the trade even MORE if the Weekly MTF turned magenta but I'd probably have to wait longer to enter the trade if I wait for that to happen.

I just use it for ANALYSIS and CONFIRMATION of the trend before I enter a trade. That's all I use it for and I use this for ALL my templates of which I have MANY.

Hope that helps...

jack

*EDIT: You could of course, just enter this trade NOW according to the eBook. More than likely, the trend will continue downward but I do NOT trade that way because during consolidation, I've seen huge swings in the opposite direction during consolidation. Seeing that opposite swing on your chart can easily mess with one's head and cause them to do something stupid. I'd rather WAIT OUT the consolidation and know the trend on at least the daily chart is continuing in a downward trend before jumping into the trade and as I've already said... If you want even LESS risk? Wait for the Weekly to turn downward as well. It's extremely difficult to lose a trade when the timeframe before, the one you're currently using, and the one AFTER are all three moving in the SAME direction. That takes your risk way down as far as I'm concerned.

[jackpinion]

So I keep watching CAD/CHF and now, the MTF Alligator shows both the M1 and M5 timeframes in consolidation. I definitely would not enter this trade just yet.

jack

[jackpinion]

And now just a few minutes later? The Minute chart is now trending UPWARD hence the DodgerBlue color you now see on the chart. Again, why enter the trade NOW, knowing that it's going the opposite direction of where you want it to go?

jack



*EDIT: Now, based on the eBook? Let's go a little deeper.

Here are the questions it asks you to answer before entering a sell trade:

1) Is the high of the candle below the 10-LWMA? --Answer is YES.

2) Is 8-LWMA below the 10-LWMA? --Answer is YES.

3) Is the OsMA negative? --Answer is YES.

But again, as the eBook says... If the answers to all three questions is YES, then you have a setup candle to sell, but NOT the trigger to enter the trade.

You still have to answer this question:

4) Is the close of the setup candle equal or less than 60 PIPS from the 8-LWMA?

On my chart? The answer to that question is NO. We're still in the candle. I'm in the United States and as of writing this post, this candle won't close for another 22 hours, 28 minutes.

So for me to trade this particular currency, I need to wait until this candle closes to see if it closes at 60 pips or less from the 8-LWMA.

Which means at least for me? I don't even have to worry about looking at this setup until 22 hours and 28 minutes have passed.

[fekowf]

EURNZD and NZDCHF both look promising atm.
By the looks of things they won't meet condition 4 but according to the book, we can set pending orders.

[sunnyillion]

I have my eyes on AUDNZD.

[jackpinion]

So... I kept watching CAD-CHF and it never did trigger a trade for me. There was, at one point a setup but based on the MTF Alligator? I never even created a pending order as per the eBook. As you can see from the image, it's turning around and going back up. This is why I use the MTF Alligator for analysis and confirmation before entering a trade. I saved myself some heartache.

I did however, profit from several other trades and ended up having a very good 10 days of trading. This is a very good system. I've created a few tweaks to it to make it my own as well as confirming a real trigger before entering a trade.

I've used it on more than just the currencies listed in the eBook and so far? It's worked every time. More REPS given to OP! Thanks!

jack