**Steinitz** Method Revealed Here - page 14
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HAS gave a very good buy signal on the 8:00 candle & has been moving up
since. This trade is an example of getting a signal from 15M & 30M for entry.
Yes the exit is another matter, but so are the exits with any method. Each
trader will have to develope there own method. For me, ADX & RSI as well as RVI (Relative Vigor Index) help with the exits. From the rules that Steinitz gives for his scalp method that seems to be a great way to trade this method & I will start to put the scalp method into play over the next several days. From the looks of Steinitz's account balance I would say it is working.
$TraderWould you show your chart please?
Thank you!
Last Post
The buy signal is for the USD/JPY pair on the 8:00 candle. Sorry for the
omission of that info. Tried to paste the chart, but unable to get to work.
I'm using MT4 charting for your reference.
$Trader
Update on the trades I have so far
For those who looked at just my earlier floating losses. Guess what they are now closed gains.
thanks! great work!
could you show some enters step-by-step graphically?
thank you!
your methods doesn't make sense and couldn't follow MTF HAS Bars. Too confused.
Amazing results!
My hat is off to you! As a manager of a small Forex hedge fund I am envious!
. I understand you are using your scalping strategy with a top down approach to an opposite signal then taking the trade once the opposite signal conforms to the trend. What time frame is at the top? Day, 4 hr..? Thanks and to hell with the naysayers!
For those who looked at just my earlier floating losses. Guess what they are now closed gains.
My hat is off to you! As a manager of a small Forex hedge fund I am envious!
I believe he actually starts with the Monthly chart. I personally will use Monthly or Weekly depending on a couple factors. The main factor really is that if the Monthly is approaching an all-time high, like a high that was reached in 1992 or something, then I would be a little cautious because that previous high could be insane resistance.
JR
This system is good in terms of being able to see the trend on multiple timeframes at the same time, but if you just blindly take the signals as described here you will get hammered. I would recommend waiting for all trend signals to be in alignment & watching the price action for support/resistance/momentum before trading. No free lunch here kids, smoothed indicators only tell you what is happening now, they have zero predictive power.
Nordberg...
How did they allow your name to be FF Nordberg? You would think that might be offensive in some capacity.
Here is a private PM with his identification left off to protect him. This is the reason why this and every other thread is doomed to fail. I am not losing sleep over this but the traders who need the information should be upset. I might just start taking only PM's with traders that can help with alerts and EA's.
Don,
Don't post much, hence the reason for this PM. Been using your method, and variations of it for about 3 wks now. It is live, not demo. This is a wonderful indicator, and method of trading.
Want to thank you for all the effort and posts you have made.
Didn't wish to post online, as I would have to listen to some c$$p from these bashers, thinking I must be a friend of yours, thus the favorable posting.
Thank you for all your effort, and keep us the great work.