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10.3 SCALPER/RANGE TRADE SYSTEM
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Author:  nanningbob [ Wed Nov 07, 2012 11:03 pm ]
Post subject:  Re: To Don ("disbellj" :
WWW wrote:To Don ("disbellj" :
disbellj wrote: It is SO bad, I feel like I can move the market. All I have to do is put on a sell, and it will go up strong. ...Anyone ever felt like that?"

First - very nice to see an open and honest description of your trading state - and not so much of the BS I see elsewhere (on other forums - not here). Good for you! It takes a pair to do that.

A few empathetic comments Don:

1. I wrestle with similar issues - I'm a reasonably bright guy (former senior level exec with some of the largest companies in the country) - now trading full time for approx 3 years.

BUT - I am more down (in the red) than up, plagued by much of the newbie "modus operandi" and now rebuilding my psyche, my approaches and finally starting to see "some" light - that is - I am losing less (with an occaisional nice up day), for some of the right reasons. I try to feel good about that. I will feel better when I can earn a living again. I feel and live your pain.

2. I am learning, through more and more contacts, that many if not most pros lose regularly, seek 4% per annum as a hero's goal and most others are not earning a respectable living trading. ("Respectable" means at least a modest 6 figures). At least that's what I am told by others and by the professional traders in my family (who have done very well).

I have to believe that most struggle (even though many appear to suggest that they are truly earning a solid income) and continue to search - explaining the thousands upon thousands of weekly forex trading-related posts. Everyone is in the same boat - trying to build a profitable EA, trying to better read price action, trying to develop a profitable system with a few indicators, trying to solve their head-issues, etc etc.

If most were successful, I believe that most would not continue to search. We would not see or hear from them. So we are all part of a large and sympatico family.

But - I do know a guy who makes ~$50K a week trading out of his home office. This is a big part of what keeps me going. It CAN BE DONE. (And no, I do not pick his brain. The only advice I got when first starting out was to read "Trading For A Living" by Elder. A decent read - I recommend it.)

3. I am thankful though that people like you, Bob and Steve (and others here)- with great skills and clearly a lot of candle power - continue to make generous contributions of your time and genius. Without you, most who continue to seek - would simply fail - far more quickly. You give us all hope.

4. And you have your environment on your side - you live in my favorite state. One day, when my trading pays off, we will retire in East TN - in the mountains, but away from Dollyville.

I know that I have not provided any revelations here. You know more than I. I just felt the need to respond with a few words of encouragement and appreciation for your efforts.

Damn the torpedos...full speed ahead.
That was a good post. We all wish to attain profit. I have been able to be profitable but it is such a battle. Trying to find something consistently profitable is so hard. The markets are constantly changing and being able to adjust with it has been the hardest thing to learn. Yesterday 10 of my first 13 trades were losers. I was ticked so I reset across the board and 14 of my next 18 trades were profitable. Ended up with a good day. Trading is like that. You have really bad days, sessions, bad weeks, sometimes a bad month. But you keep plugging away at it. Yeah you read that right I took 31 trades yesterday on 17 different currencies. My aver profit per trade was 30 pips biggest was 87 and my average lost was 23 pips. Largest loss was 80. I need to implement my own SL system as soon as it checks out because that 80 pip loss was just a dumb trade and the EAs would have limited it. 510 pips in profit 322 pips in losses equals 188. The hardest thing to learn in Forex is you make a trade, it happens and then NEXT. I have learned to take losers and go on. Loser days, go on, losers weeks go on. losers months go on. Eventually I got it. You develop veins of ice. But here is a big key. I traded small enough lot sizes to keep my accounts intact while I learned. I am not afraid to trade nickels and dimes with a large account so I can learn and understand this thing called Forex. My goal is modest 10% a month. I have learned the hard way to cool my expectations. If I want to make 50K a month that means I need a trading account size of 500K. I stay within the boundaries of my account size. That is what makes me profitable over the long term. Thanks for the post.
Author:  madpipa [ Wed Nov 07, 2012 11:50 pm ]
Post subject:  Re: 10.3 SCALPER/RANGE TRADE SYSTEM
Hi Don
disbellj wrote:... I'll dig into it once I can get my head straight again. Tired as all get out. Been working non-stop until I couldn't think clearly and passed out.
I don't blame you for feeling exhausted. This looks like fantastic work. It makes my head spin just trying to interpret it!!

One small thing I did see in your screenshot - all the Alerts are for EURUSD at all different price levels. I guess "Buy EURUSD @ 86.83" is supposed to be a JPY trade?

I have made a pledge to myself (and my wife!!) that I am going to try & get 1 day a week away from the computer. But I may just place a couple of trades in the morning & check them in the evening. :D It sounds like you need a break sometimes too.

Thanks for all your great work,
Mick
Author:  disbellj [ Thu Nov 08, 2012 2:35 am ]
Post subject:  Re: 10.3 SCALPER/RANGE TRADE SYSTEM
My God, not a single negative post. Wow. I am humbled by the graciousness yo show me when I'm just being honest.

I have been working on something very important though, IMHO. I call it SyncCriminals.

First, I note that Baluda did a great service for putting everyone on the same page the best he could do at the time. This is what I'm doing also. I have tried to make sure no glitches, but there are no guarantees.

My first problem when encountering this synchronization need, was a long time ago.

Recently, I decided to work on an indicator (well, code I put into an indicator - code posted publicly by zznbrm). This code goes to a website and gets what is on there. From there it is parsed to find the relevant positions of information, and extracts that information, reformats it into MQL4 datetime format.

The main problem I see is this:
During the summer, the market opens at 5 PM EDT / 21 GMT time.
During the winter, the market opens at 5 PM EST / 22 GMT.

So Eastern time of 5 does not change all year long, and is what pivots should be drawn by, according to the professionals as I see it. Although GMT time does not change all year round, open time of the Forex day in GMT time DOES change. In summer, 21 GMT time. In winter, 22 GMT time.

So in summer to make criminals open at 5PM EDT, I must make open time by getting GMT time, getting difference between broker time and GMT time, getting if it's Daylight Savings Time, and setting StartHour to 21 GMT+GMTOffset if so, and if not, setting StartHour to 22 GMT + GMTOffset. It took me many hours of trial and error to get to this simplicity. Hope you find it works well. Np guarantees. Just a step I believe was/is needed to put the small army of traders on the same start times, so we have same open times and same pivots, S/R, etc.

if you find them imperative that someone did this, like I did, and it helps you in your trading Bob's systems (if Bob does allow my function to be used in his systems), you can thank me by seeing my signature :)

Note: I already a see a problem because Cowboy IBFX did not open at 22:00 the day the DST changed, it opened at 23:00, so entire day was skipped. I need (or someone else needs) to add code that says if there is not a 22:00 (or in Summer 21:00) candle, use he next available candle in time.

Kindest regards,

Don
Author:  nanningbob [ Thu Nov 08, 2012 2:43 am ]
Post subject:  Re: 10.3 SCALPER/RANGE TRADE SYSTEM
My screen says none downloaded yet so I am honored and happy to be the first. :) If this works then we need to update the ratio EAs and we will be almost there with the first edition of 10.3.
Author:  Faramirsen [ Thu Nov 08, 2012 4:02 am ]
Post subject:  Re: 10.3 SCALPER/RANGE TRADE SYSTEM
just great work of you all - thanks to Bob and Don!

in the mean time i just took NU , AU and GU :) all ++++ already ;)
Author:  Faramirsen [ Thu Nov 08, 2012 4:15 am ]
Post subject:  Re: 10.3 SCALPER/RANGE TRADE SYSTEM
just a little thing:

The MPTM Settings are currently set to: Set Missing SL = 15. As I understand we start with 20?!
Author:  nanningbob [ Thu Nov 08, 2012 4:45 am ]
Post subject:  Re: 10.3 SCALPER/RANGE TRADE SYSTEM
Faramirsen wrote:just a little thing:

The MPTM Settings are currently set to: Set Missing SL = 15. As I understand we start with 20?!
The setting should be 100TP and 20 SL. I may have put the wrong one in the package. I will check tonight when I get home. My VPN here at school is knocked out so I am having trouble downloading.

Can anyone post the most recent Cowboy IBFX Empty4. I cant download from their web page right now but if you post it here or send it to my email address nanningbob@msn.com I can download it and use it. I hope the great firewall has not cracked my VPN. It makes things difficult in China without my VPN.
Author:  POH [ Thu Nov 08, 2012 4:51 am ]
Post subject:  Re: 10.3 SCALPER/RANGE TRADE SYSTEM
can't seem to download it either:

Error

An error has occurred. Our technical staff has been notified.

If you need additional assistance contact our customer service team.
Author:  thelearner [ Thu Nov 08, 2012 5:05 am ]
Post subject:  Re: 10.3 SCALPER/RANGE TRADE SYSTEM
i think it is mass issue with Cowboy IBFX...I can't download it too. What Empty4 has the same good accuracy as Cowboy IBFX (as in historical data so the indicators will be accurately shown)?

thx
Author:  disbellj [ Thu Nov 08, 2012 5:38 am ]
Post subject:  Re: 10.3 SCALPER/RANGE TRADE SYSTEM
I decided to post a pic of what's coming. I am going to work on it tonight some more, to make sure all calculations are correct, and then post it. This is my first attempt at putting 10.2a and 10.3 together, the rules can be easily changed if all the parts are there, so please Bob and others, just please test this considering it Alpha software when you get it.

Kindest regards,

Don
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