Just wait 1 hour and NFP will stirr up some ....nanningbob » Fri May 02, 2014 11:13 am wrote:Hey guys, with the help of Milanese we have developed this really cool trading system with this really neat indicator that will tell you when to get in and when to get out. You will be able to make money and ......... zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZ
Gertje » Fri May 02, 2014 7:27 pm wrote:Just wait 1 hour and NFP will stirr up some ....nanningbob » Fri May 02, 2014 11:13 am wrote:
Untill then; zzzzzzzzz
BBQ ???????????dispell » Fri May 02, 2014 11:29 am wrote:
Ditto. Waiting on the NFP
In the meantime, im enjoying some BBQ
1945 here in Beijing, chilling out over some wings n cheap beer.Gertje » Fri May 02, 2014 7:36 pm wrote:BBQ ???????????dispell » Fri May 02, 2014 11:29 am wrote:
Ditto. Waiting on the NFP
In the meantime, im enjoying some BBQ
It's 13h30 here, and I'm at the office......
WE almost stopped for BBQ tonight, the problem is because of the holiday its too crowded. There are no street vendors here anymore so you have to go to one of the few licensed places and they are always crowded. So stay at home tonight.dispell » Fri May 02, 2014 7:49 pm wrote:
1945 here in Beijing, chilling out over some wings n cheap beer.
I feel ya brah. Peeps back in M'sia meeting up for the NFP rush.
I'm on my phone, if not i'll send ya some bbq goodness!
My gals' a Beijinger, so we're at a friends place for BBQ.nanningbob » Fri May 02, 2014 8:31 pm wrote:WE almost stopped for BBQ tonight, the problem is because of the holiday its too crowded. There are no street vendors here anymore so you have to go to one of the few licensed places and they are always crowded. So stay at home tonight.dispell » Fri May 02, 2014 7:49 pm wrote:
1945 here in Beijing, chilling out over some wings n cheap beer.
I feel ya brah. Peeps back in M'sia meeting up for the NFP rush.
I'm on my phone, if not i'll send ya some bbq goodness!
Apologies Bob,nanningbob » Tue Apr 29, 2014 10:42 pm wrote:
10.9 is is strictly day charts and higher. You take 1 or 2 trades a month and you can sit on a trade for weeks or months at a time. You enter and sit on the trade. I liken it to setting the stove to 99 C and waiting for water to boil. You either have the patience to trade that way or not. It is the simplest of the systems but takes the most patience. Because of Easter and the Ukraine thing you might as well as gone on vacation for April. Below is the eur/usd chart. For the last 3 weeks it has stayed in a 100 pip range. Well that is a lot of fun. Except for some of the commodity currency drops the last two weeks there has been nothing much to trade. I may get a 3% increase of my account for the month. Hey that's the market right now. Part of trading is recognizing the fundamentals and that they just arent there right now. I mean you can analyze this thing to death but you arent going to be making money if the markets are just marching in place. Except for a couple of commodity currencies like eur/nzd and gbp/nzd everything has stayed within that 100-150 pip range.
If you want to learn demark TL put demark TL in google and go read. Ton of material out there. Those are not fractals on your screen those are where the lines for TL in the past which I did explain in my first couple of pages in the thread. I showed how to use them to determine TL in the past.
I dont agonize about my entrances. If I get a trade signal. I look at my CSS read and either enter or dont enter. If I enter I take what I think is my best entry point and I go with the trade. That can be a MA line, TL, or xxx.000 or xxx.050 line. Then I let the trade develop.
The most important tool I use in trading is the CSS and it has the fewest views. Everything I do is based on my daily reads of the CSS. If I had a choice of one tool to trade with that would be it. If the GBP is higher than the JPY I dont try buying the JPY unless I want to counter trade.
I only trade Forex and nothing else. It is a ranging market and if you do it right (lot size to account size) Your losses are minimal. I dont have to worry about a company going broke and price going to zero. (sorry gold crowd but gold is about ready to drop again)
) or swing highs lows, but never found them consistently profitable due to false breaks, whipsaws etc. See above.Swingtraderkk » Fri May 02, 2014 9:41 pm wrote:
Apologies Bob,
I thought I had read the entire thread, but I clearly missed the trendlines posts on page 3-4. I was familiar with a few systems based on trendlines, drawn from fractals (the yellow circles are also fractals at least according to how Empty4 defines them!
I agree on the CSS, it is the most interesting thing I have seen in a while, and gives great confidence in holding trades - the hardest thing to do in daily strategies.
I understand the forex argument as regards ranging, but I do not expect SPX,US30 or GER30 indices or commodities to go to zero, and as I mentioned, I've been using 10.9 (likely incorrectly) to trade indices and commodities on a demo for a few weeks now and the results are encouraging. At least they've been moving! Of course another big reason to beware, is that you do not have the CSS to give clues to direction.
Back to 10.9 - unfortunately I still have some questions:
Entrances
1) Do you use only stop orders in the direction of your trade or do you also place pending limit orders at MA lines, TL, or xxx.000 or xxx.050 lines looking for better entries if price continues in wrong direction for a while?
I use mostly pending orders mainly because I cant trust the internet connections here in China. Right now they are very irregular and cant trust an EA to be connected when the moment of a trade comes. If I could I would use Steve's EAs he has set up for 10.7.
If you have come across some of my other teachings, which are not on this thread, I donot enter my full position when I enter a trade. I divide my positions into 3 parts and enter by piece by piece into a trend. This helps in that if I take a SL I only SL 1/3 or 2/3 of my full position. If the trend works then I enter all three positions and ride. Right now there is no trend going on so most of my trades are partial positions. One of the reasons why I didnt quite make 3% of my account in April. However, this kind of trading limits you losses also.
2) Is CSS the only filter you use, or do you also use the monthly 2MA and weekly 2MA as trend indicators?
The 2MA are the 240 and the 60 on a 4H chart and you will find them in my templates on page 1 post 1. That doesnt change. All I have done is add 10.7 to 10.6 Edsel along with the TMA for range trading. So that is the upgrade.
3) Considering that your chosen MA line, TL, or xxx.000 or xxx.050 line on the daily chart may be quite a distance away when the sto7 signal is given, it is likely (especially in recent tightly ranging markets) that the sto7 will also have travelled quite a way to its opposite side by the time the pending order is hit, so do you have any rules for when you would remove the pending orders?
My rules are: I trade, If I like a signal I get in, Sometimes i just enter with a market trade, sometimes a TL break, sometimes a level mark, sometimes a MA cross, sometimes a flip of a coin. You cant make money without entering or being afraid of losing. My win ratio for the last 5 years according to my I B F X trade history is 72.72%. So I use this information to be aggressive and let my winners out weigh my losers. I am an aggressive trader who uses lots of positions, I dont get bent out of shape over a losing or a series of losing trades. I know the odds are in my favor that I will have a winning trade so I trade.
Forex is about the exchange of funds from one currency to another currency. This is done by govt. businesses, individuals, and banks. Traders are only a tiny portion of the market. At any time at any moment someone can exchange money and no indicator, naked screen, fundamental, or anything else can predict when someone goes to exchange money. So the moment by moment price action is purely arbitrary at any given time. However, over the long term (monthly or weekly) price can follow a trend or direction. My systems are based on following those long term trends. 240 line is a monthly line, 60 MA is a weekly line, W2.1 is weekly action, D2.1 is daily action. Put them together and you have whats called top down analysis and you trade into the long term trend. As long as you do that you will have more winning trades than losing trades. Then have a consistent solid approach with your MM and you can succeed in this business.
4) Conversely do you try to anticipate where the w2.1 and sto 7 will be (by looking at weekly open and last 7 closes) when a MA line, TL, or xxx.000 or xxx.050 line is crossed and place pending orders anticipating the correct signals?
Sometimes, most of the time. I work 10-14 hours a day as an administrator of a school and a teacher. So my screen time is limited to when I get up, my breaks, after school, dinner and bedtime. I go with my CSS reads and what I see on a chart. My decision making process takes less than 10 seconds, I am in or I am out then on to the next trade or chart.
Exits
These quotes are from different posts on page 1&2:
"Get a signal, enter and stay until the signal changes. If you get it right you will add to your positions like professional big time traders do. "
"EXITS
1. STO7 hits the top OR
2. W2.1 goes back to the bottom"
As I have explained many times I close trade about halfway into a trading session. Price action usually reaches its peak 2 hours into the jpy session 3-4 hours into the euro session and 2-3 hours into the USA session. I take my profits and move on unless I know I am riding a strong trend.
a) I have been exiting when sto7 hits 100 or 0 or the w2.1 changes, so it is very rare for a trade to last even a week and does not allow a building of positions. I think that to hold trades, you must be using a combination of CSS + your uptrend/downtrend MAs, and ignoring Mon-Tues, and possibly using the monthly 2.1 to hold these trades even when sto7 & w2.1 signal to exit? or are you in the market 100% of the time and keep adding buy positions until you get an actual sell signal?
I am a 4H chart trader, If you want to hold positions and ride a wave you trade daily charts or higher. There are those who trade monthly charts. Right now long term trading is crap until the markets break out. That may not happen until the Ukraine/Russia thing settles. Banks, traders, businesses, govt. are waiting to see what happens there before committing large sums of money into anything.
Thanks Bob for everything!
YUP you are. Look at all the charts I posted on page 40 and you have your answer.zimezoom » Sat May 03, 2014 1:02 am wrote:Swingtraderkk,
Yeah, exactly my thoughts and concerns.
I have made an EA to trade EDSEL automatically based on the rules, and realized that by when every signals are inline, the price was near to the TMA/ATR channel boundaries. This often results in buying the top or selling the bottom.
Maybe I am missing something important.