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- ciscosmithy replied Jul 15, 2011
Everyone should post this statement on their monitors, to understand that ultimately it is not the system that makes the money. For every profitable trader out there they don't all trade the exact same entries / exits, therefore, it can't be the ...
- ciscosmithy replied Jun 17, 2011
Kevin, you seemed to get upset with me last night when I was asking a genuine question about live trades, so we could learn. As you mentioned last night for me to go back and look at previous live trades you have taken, I could not find one that ...
- ciscosmithy replied Jun 16, 2011
Thanks Kevin for the live trade. Good timing to get out just before the news spike, went straight up to 114.10. So the MOM trades you get out at 20 pips too, I thought we were looking for around the 50 to 60 pips with week 2. I understand you can't ...
- ciscosmithy replied Jun 16, 2011
Thanks Kevin, Watching now, so look forward to learning. Confirming you're Short EURJPY 113.89 for MOM trade, which will spring off TMA for a long termish trade. Cheers
- ciscosmithy replied Jun 16, 2011
Hi Kevin, I've been reading the thread from the start and I understand the process you are taking us through, with the various setups, but I'm finding it difficult to have the moment of enlightment because I need to see a live trade to fully see how ...
- ciscosmithy replied Jun 16, 2011
Hi Kevin, I think this is were I'm confused and hoping a live trade will help. Post 863 USDCAD, your trade taken example was at 4.30am US EST, and your snapshot was at 5.15am US EST, but when I was looking at it around that 4.25am - 4.30am time when ...
- ciscosmithy replied Jun 16, 2011
Hi Kevin, Reading your thread with interest but I'm not fully understanding some aspects which I hope you can assist with and may help others. Is it possible for you to take a screen shot immediately when you take a trade so we can follow with you ...
- ciscosmithy replied Jun 15, 2011
Agree, and yes I did realise I made a spelling mistake had logged out though and had to put kids to bed. Know is know..I know Good luck to you.
- ciscosmithy replied Jun 15, 2011
Could not disagree more with the above comment. When you enter a trade the only thing you can control is what happens after the entry. There are supposingly many profitable traders in the world and I can guarantee they don't all use the same entry ...
- ciscosmithy replied Jun 11, 2011
Adam, With your study of the markets I want to reiterate brokerage / spread will kill your account if your scalping for miserly pips, and you made a statement a profit is a profit right. I couldn't disagree more. Getting a measly 4.5pips is about ...
- ciscosmithy replied Jun 10, 2011
Adam, Will give credit to the originator of the quote, Nick Radge, Aussie Trader, The Chartist. No affilliation whatsoever. The difference I've learnt over the years following him, and what I see with NG. I understand now it's not the system that ...
- ciscosmithy replied Jun 8, 2011
Adam, Your thought processes sound more disciplined today. My mentor (not that he knows he is) who I have followed over all these years with shares has one mandate. "The next thousand trades" Simply put, one trade should not impact you or your ...
- ciscosmithy replied Jun 8, 2011
Adam, I commend you on your journal to try and be disciplined but if you are following NG's trading theory, he states be like a sniper and take only the best shots. He also tells of only taking a couple of trades each session and walk away once you ...
- ciscosmithy replied Jun 1, 2011
I think Jag has hit the nail on the head. When your trading mini lots / pennies, who cares about stops, but imagine the kittens you would be having if you had 10 lots on and your position moved away from you a couple of hundred pips. The reality I ...
- ciscosmithy replied May 31, 2011
Why would you want to change anything. If your figures are correct you have positive expectancy and it's a no brainer to keep trading without optimising any further. Simple mathematics state you are making a 100 pips every 10 trades, so increase ...
- ciscosmithy replied May 1, 2011
Two things I would like to add: I'm not sure why people state EA's will fix psychology. Yes they can automate the trading but to me the real psychology is fear and greed, the money aspect, so whilst the EA auto trade the owner still has to place the ...
- ciscosmithy replied Apr 27, 2011
PipRiderFX, Welcome to the reality of trading vrs backtesting. Whilst I recommend backtesting as tool to validate systems, it is useless if you don't trade that way when going live. In backtesting you will always hit your profit target or stop ...
- ciscosmithy replied Apr 15, 2011
AFX-UK, Will read with interest. You mention for your short term trading you follow momentum, is there a specific way you interpret momentum that puts the probabilities in your favour to enter the trade? I'm a short term breakout trader and would ...
- ciscosmithy replied Feb 9, 2011
Forex1962, the problem you have now is your gun shy about the system because you have had a few losses, but if you had done full backtesting say over the last year you may find 6 losses in a row is quite valid and the system still have a positive ...
- ciscosmithy replied Feb 8, 2011
Things I do. Trade NY session. I do cherry pick my trades but the reason for this is because if I see a set up forming on a higher time frame I will always wait and take it over the lower time frames I love the 15 min and 1 hour time frames for ...