dididudu wrote:hello.
like a fool, I got in a storm on my live account.
I'm up on jpy pairs with a stop loss very low.
several very small lots EVERY jpy pairs but still a DD of 19%.
I want a rebound rsi to go out with less waste.
which is in my case, and asks the same question, or wait out an improvement?
I find the system 10.4 enfraint great but I thought the rules a boj intervention.
About did

nanningbob wrote:

pips400 wrote:Hey, I wondered if anyone has any good sources/links for developing a positive trading pyschology?

Yeah, winning and making money gives you a positive trading Psychology. Losing money gives you a lousy trading psychology. I traded small lots until I got it. Now I am pretty sure of myself but small lots prevents you from losing lots of money so you dont feel so bad.

SWG123 wrote:

nanningbob wrote:Does any one have the indi that draws line every 100 pips at the 00 line. I have seen people with these but I have never had one. I guess I need a new toy to play with.

This is the one I use:-

SweetSpotsGOLD.mq4

EDIT: Please note that for 5-digit brokers you need to add an extra '0' to 'SweetSpotMainLevels' and 'subLevels' in the parameters.

f451 wrote:Bob,

SweetSpotsGOLD doesn't have a bar look back. it uses a timer to avoid re-drawing the lines too often. Should already be low RAM usage.

However, use this version - I have modified it to correctly identify pips and digits regardless or pair (e.g. JPY pairs) or broker digits. The older version was badly broken on some charts.

cheers
f451

SweetSpotsGOLD.mq4

nanningbob wrote:I see some of you didnt comprehend what I tried to say yesterday. Let me see if I can explain it again. First thank you for all the notes of encouragement thinking I was depressed or something. That was not my point I was trying to make. The move on Thursday had nothing to do with indicators, fundamentals, price action or anything else you use. It is nothing that can be put on a chart, an indie, an EA, a system, price action or a fundamental.

Some banker went blah blah blah and moved the market. 10.4 backers went you see you have to follow the system. Those following JPY expectations took a hit even though the fundamental move will continue in the future. Price action guys were thumping their chests even though their precious little double bottom W pattern on the 4H chart didnt hold. I already know they will go to a lower end chart and say if you had just seen the 15M chart or the 30M chart you would have seen the pattern that showed the move. Silly. If Dragon Head had said the opposite. The 'I follow price action crowd' would have been jumping up and down and said see your 4H chart, double bottom with the big W you should have just followed price action. The minute someone jumps from TF to TF to find the right pattern to prove his system you know they are full of it. You can always find a pattern that matches what you want to say on some TF somewhere. I tried that game got tired of following the wrong TF every day. That is what the 240 line is for keep you on the right track long term.

Anyway lets say Dragon Head had said the opposite and the markets moved up instead of down. 10.4 didnt work? Fundamentals did!! Of course the same price action guys would have shown up and said see the 4H double bottom W did work. I only trade price action. Of course you can say that no matter which direction price goes, you just have to be on the right TF to follow it and find the right pattern.

This is the point, it didnt matter what you followed, Dragon Head spoke and the market reacted. Afterwards you can find price action on the 15 or 30 or 1H that matched. You can scream and yell and say Fundamentals had their day. Oh well 10.4 sucked today. At any moment at any time the market can go outside any system or pattern. It is also why 24/7 EAs dont work long term. Of course any experienced trader understands this so we dont get too excited when these things happen outside the system.

What is happening in the world of Forex and more generally around the world is the power to move markets and economy has moved out of the hands of elected officials, business transactions (the heartbeat of Forex), and trading. (USA citizens Obama nor the Rebublicans are running the economy, they are in a stalement on unmovable positions. Thank God for King Benny who looks out for us wee folk.) I have to look at my calendar every day and wonder what some stuffed shirt banker is going to say or not say. (JPY moves didnt happen the first week because King K of BOJ didnt say enough). When these guys speak stocks go up, stocks go down, Forex jumps to their tune. Cad was having good news all week and the markets reacted the opposite because of what some dingy guy in Europe said something in a speech.

This is what I have to say, "Quit patting yourself on the back because you were lucky your system or viewpoint worked this time. You may not be so lucky next time. The markets are no longer following what business, economies, Etc. are doing, they are jumping at the very words of Dragon Head, Benny Boy, SNB, and soon to enter the fray the new boy from England who came over from Canada." News, fundamentals, market forces of the past may become passe as these guys dominate the stage. ????

I have to say, "Quit patting yourself on the back because you were lucky your system or viewpoint worked this time. You may not be so lucky next time.

MrLong wrote: Your system that you have skilfully crafted together did not fail, it worked very well, people who got took out, were not trading your system, they were massively over exposed with gut feeling.

Andy