Where you guys been? Seems quite here
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DislikedYes, I have attended the seminar and also have done both Home study courses(old and new). The home study course and seminar are not necessary to be successful using this method but if you can afford it, try the home study course and see what you think. What is necessary is total trust in yourself and the markets. If you can do this, the markets will take care of you. I have traded for 15+ years and this method gave me a real eye opener about how the markets work and what really matters. Another big plus for me has been the mental training that they recommend. The morning pages and Autogenic excercises have helped a lot. I have gone on to meditation and other spiritual studies which have totally changed how I veiw the world. I am no longer trading to make money, I accept that that is a natual outcome of good trading. I am trading to have fun and learn more about myself and the markets. This has removed performance pressure and made trading more enjoyable.
Hope this helps.Ignored
DislikedArcus,
I have been wondering the same thing about the quietness lately. I have some questions that I posted earlier that I am still hoping to get an answer. I have been trading daily for the last couple of weeks and have been positive witht he pips for the most part. Here are my questions once again. If I need to post a chart I will try again.
A couple of follow up questions about where to put stops.
1. Lets say we are currently in a trade regardless of the entry signal we had hit. The trade is going in our direction. We have set a stop loss based on either 3-5 bars back, AO, Red Line Green line etc. It really doesn't matter for this discussion where the first stop loss was set. The trade continues for a profit and you move your stop loss along based on your own beliefs and method. But now a VALID BDB is formed. According to BW if you were to enter using the BDB as your first signal you place a buy/sell one tick above or below the signal bar. You would also place a Stop and Reverse trade at the opposite. Again, that was info based on entering as your first signal but we now have that signal AFTER being in a trade.
Now, where do you place your stop loss?
Do you move it from whatever place you had it to match the 1 tick above or below the valid BDB that just formed?
Do you place a stop and reverse trade?
Or, do you keep your original rules since you are already in the trade?
Hopefully that makes sense. Basically, what do you do once in a trade and a valid signal for a reverse happens? Take your profits and run and set up the next trade or continue?
I know many have said they don't use the BDB as the first signal anyway and therefore would probably not use it as a signal to reverse their trade. Although, It does show that it can be a valid way to enter a trade.
Thoughts overall? If I need to explain more I can. I can also attempt to place a chart here. Just have not had time to mess with that in the mornings.
Thanks for the help.
RCWSOIgnored
DislikedThe Squat bar is detailed in their books. Basically it measures volume and price movement. If the volume is bigger than the previous bar but the range is less than the previous bar that shows the move is running out of power. It is taking more gas(volume) to move the market less distance. They tend to show up at the end of a trend.Ignored
http://rapidshare.com/files/125075370/xSquatBar.ex4
DislikedHey ppl,
I have nothing specifically to share.. but maybe some general things might help somebody....
first of all ... do what you feel comfortable with. I made 900% in the past 4 weeks doing just that. Sounds unbelievable, but it happened... you have to hang in there .. and trust the market. Especially on the daily charts this seems to work out. After my account went down over 75% percent in the first 3 months (by intraday trading), I doubled my original account size in just 4 weeks (by trading the dailies). Trendtrading doesn't work that well on a 15 minute chart - not even a 4h chart - you get knocked out way too fast... well, at least for someone who doesn't have the intuition (as JWL said in the Stocks & Commodities Interview Profitunity trades the dailies most of the time (link posted by GreenRiver a couple of posts back)).
In those 4 weeks I also used the SAR signal on BDBs (I am very conservative though, concerning position size) .. it worked out perfectly well... by looking at charts that are over 5 years old, I noticed, that at the end of a trend 90% of the time a divergence on the AO occurs .. "automagically" a BDB occurs within that period of time and you can trustfully use it as a countertrend signal - all other BDBs don't seem to be as profitable (many times not at all) .. and there a zillions of them in a trending market .. I still have to do some testing on it though..
Generally I have to agree with arcus, make it simple for yourself. Don't even watch the market the entire day, but only for half an hour or so just before closing time to put on new trades or exit current trades (helps you sleep much better than doing it in the mornings.)
Having done morning pages, autosuggestion and taking long walks for just 6 months I have to say that it helped my trading A LOT - and not just the trading, but my entire life is much more relaxed now..
I really do believe, and experienced myself, that Chaos Trading has the potential to take you from nothing to a whole lot if you just are disciplined, have patience and stick to the system.
Even though it contradicts BWs trading, I use Fibonacci measurements to see what the market is doing. I have also used it to add up on a position or place a stop on an active trade. So far I have no negative outcomes to report on that... BW even says that the numbers his hired physicians and mathematicians came up with, are Fibonacci numbers ..
I dont't use Elliott Wave at all - I rely on the Alligator to just show me trending markets and corrections of those...
happy pipsIgnored
DislikedNo I don't know all too much about squat bars. I have New Trading Dimensions laying around somewhere, but I don't acutally use what is discussed in there. I am more interested in Trading Chaos: 2nd Edition. Anyway, I'd be glad to see an explanation =)Ignored
Dislikedare you guys also long on eur/usd ? hope it finds it way up there again in the next couple of days ... not sure about my stop right now though.... last fractal or trail it?!?! anyone got an opinion on that??
happy pipsIgnored