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Ramblings of a Forex Junkie

Hey seneca.
Sorry your so disheartened with the majority mate.Just a quick note that i meant to write weeks ago on finding your thread.Glad now that i didnt write then, before trying most of what you were talking about.Now i have and i've got to say that your stuff is massively powerful.Those entries are fantastic with well placed stops and so on.I took over 210 pips from a 140 odd pip movement with a mixture of your entries and graemes stacking techniques in a couple of hours.Proves nothing i know.one days trading.Theres been plenty of others.

But the most powerful thing you have given to me mate is a finally open and inquisitive mind.You've fired the starting pistol in my trading mind and lit up a straight track in front of me after 18 months of banging my head against a wall.

Buy low,sell high.Heard and thought it that many times.Never really got it before unbelievably.Your ways make it automatic.
I sit at traffic lights now and a new idea for testing and making my system better will just pop to the front of my brain.You have unwittingly given me and most likely a lot of others a mental trampoline that things start bouncing off of.That has never been there before thru all the different threads i've read and thought i could implement.The simplicity and peacefulness of the basics you taught are stunning and i have never found any basic concept so easy to trade. There is now nothing to fear from the market or myself.Not getting carried away.Theres loads of work i need to do,but you've just given me a google map of how to get there.
All i really want to say is thanks for those ramblings,even if you regret it now,because i know there are plenty more like me that you have enabled a trading future for.
This post doesn't say one tenth of what you've done for me but suffice to say the change in thought process and confidence is incredible.
Luckily you did it for free but you could charge more than van tharp.

All the best mate.
Hi SP. I haven't been around here but I am out in world running with much of your info securely tucked away behind my eyeballs.

You have given much of your time and expertise that is (likely) appreciated by most of those who have come this way. Should you choose to not visit us here again, you, OF COURSE, will be missed. Please take this with you; "You Are Respected & Appreciated Deeply".

Thanks,
Darryl
Quoting Seneca pilot
{quote} I really hope that goldenmember doesn't go into his trading method. He will regret it once he does. Chris.
Not sure there is much to go into. Some of his individual trades point to a martingale based strategy, which has the same risk profile/equity curve as short vol. (i.e. it works until it does not).
  • Post #3,764
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  • Edited Jul 2, 2013 1:50pm Jul 1, 2013 11:44pm | Edited Jul 2, 2013 1:50pm
Quoting fxterrapin
{quote} Not sure there is much to go into. Some of his individual trades point to a martingale based strategy, which has the same risk profile/equity curve as short vol. (i.e. it works until it does not).
Goldenmember is making lengthy posts which seems to suggest he is going after the vouches. He is open about showing his Myfxbook with 21 months history on a credible sized account, you don't see that a lot on ForexFactory. He would probably get more followers if moved to Trading Discussion Forum, rather than the Trading Journals Forum. He's still rambling though and building up aura, but not yet into actual trading.

Have you seen geomink's Trading Journal? He wasn't rambling, just short riddle-like answers but his TradeExplorer is amazing:
http://www.forexfactory.com/geomink#81
Quoting geomink
{quote} I'm sorry, but the explorer is disable when I've got open positions. And I'm not ever able to answer if I'm busy at trading, sorry. The best. Geo
No longer trading forex. Looking for full time job.
Quoting Psychofant
Hi SP, Attached is an equity curve for trading your significant level of LWC (Last Week's Close). It is VERY CRUDE but shows the concept is sound. The rules are simple using EURUSD Daily Data NY time: Buy Stop at LWC + 20 pips. Sell Stop at LWC - 20 pips. TP is +15 pips, SL is -5 pips (3:1). Lot = $100,00 = $10 pip. Your comments about coding the discretionary nuances are correct so I used 15 & 5 to see whether it makes money or not. It boils down to $10K (to cover the max draw down) will make you $22K over three years. Not bad, sans nuances. Also,...


Anybody know the software that was used to test this? I would love to play around with the code a bit.
Quoting fxterrapin
{quote} Anybody know the software that was used to test this? I would love to play around with the code a bit.
That's a picture from TradeStation's TradeManager Analysis. He was doing Strategy Back-Testing on the TradeStation platform, using EasyLanguage. Check out his thread,

Ramblings of a Rambling Rambler
Quoting Psychofant
We think we are smarter than most and trade better than most. We love to talk about ourselves yet we go to great lengths to protect our identities. We manage an absolute return fund named "The Homeland Partners Fund" but it won't turn up on Google. We use phony names for the email addresses we use with outsiders. Insiders are our family, very close and long time friends, and clients. The phony names will be on Google but they are not us.
No longer trading forex. Looking for full time job.
DUH


???

(ask Hatch)
When the Joker is in the deck.. fear not and play it well
Quoting Seneca pilot
{quote} Looks pretty familiar so far. Maybe some of the people who read this will believe him and realize that trading isn't complicated and doesn't require a secret handshake. I tried for months to get through and only seemed to get hammered with specific questions when the big picture was being ignored. There are a thousand different ways to trade and many different methods that are profitable but a trader has to be consistent and work very hard to see success. Most of the readers here just wanted to be coached and have their hands held. How many...
Hi Seneca, I was advised to take a quick look at your thread by hollowhead (who is a fan). I haven't had time to look through the 189 pages where you got discouraged by people, but what was it particularly that put you off continuing to post?

Thanks for reading
Quoting mmaker
{quote} Goldenmember is making lengthy posts which seems to suggest he is going after the vouches. He is open about showing his Myfxbook with 21 months history on a credible sized account, you don't see that a lot on ForexFactory. He would probably get more followers if moved to Trading Discussion Forum, rather than the Trading Journals Forum. He's still rambling though and building up aura, but not yet into actual trading. Have you seen geomink's Trading Journal? He wasn't...
For me about a year ago I was looking for vouches but than I found that it felt more important to get some strangers approval for my trading than becoming a better at trading I. Also it lead to arguing with people a lot more on here for me also I don't think the Vouch means anything because in the end the size of the account determines what you can do with it. Just thought Id ramble a little
Quoting goldenmember
{quote} Hi Seneca, I was advised to take a quick look at your thread by hollowhead (who is a fan). I haven't had time to look through the 189 pages where you got discouraged by people, but what was it particularly that put you off continuing to post? Thanks for reading
I was spending hours each day here trying to teach some basic strategies. I have too many things going outside of trading to afford the time commitment.

My warning to you is this; Once you begin to teach your method things will change for you. You will be persistently hammered with the same (slightly rephrased) questions over and over again. If you are a nice person as I am you will answer them a thousand times. If you ask people to read the whole thread instead of repeating questions they will complain that you are an asshole. This is a "no win" situation.

You will find that you are credited with saying things you never said. You will find that your simple set ups are over analyzed to the point that they are complicated and unworkable. You will find that people want you to explain in detail every aspect of your trading methods and they still won't be followed. You will find that once you explain a particular entry method that the readers will find that entry where it does not exist and then complain that it doesn't work. You will find that people will try your method once or twice and complain that it doesn't work because they had a couple of losses.

I was warned but chose to go forward with posting specifics. I am simply paying forward their efforts by warning you the same. If you go into specifics about your trading method you will regret it. I don't say this because of any dilution of method or loss of your edge but because it is a huge effort to maybe get through to two or three people. It is nearly a full time job that has no reward.

Chris.
Quoting kodflakes
{quote} For me about a year ago I was looking for vouches but than I found that it felt more important to get some strangers approval for my trading than becoming a better at trading I. Also it lead to arguing with people a lot more on here for me also I don't think the Vouch means anything because in the end the size of the account determines what you can do with it. Just thought Id ramble a little
I never really found much motivation in the vouch of a faceless unknown person on a web forum. There are lots of posters here with no, or few vouches who give solid advice. There are also many 10+ vouched posters here who clearly have never made a winning trade except by pure chance.
Quoting Seneca pilot
{quote} I was spending hours each day here trying to teach some basic strategies. I have too many things going outside of trading to afford the time commitment. My warning to you is this; Once you begin to teach your method things will change for you. You will be persistently hammered with the same (slightly rephrased) questions over and over again. If you are a nice person as I am you will answer them a thousand times. If you ask people to read the whole thread instead of repeating questions they will complain that you are an asshole. This is a...
Thanks for the reply Chris. That does sound like a bit of a nightmare. I was considering asking the admin to move my thread to the another area where it might get more responses, but i am beginning to think that less responses and a longer time to get my point across might be better (I was only going to post 1 x a day to minimise the time spent arguing). And I agree with the vouches - what exactly do they do?
Quoting goldenmember
{quote} Hi Seneca, I was advised to take a quick look at your thread by hollowhead (who is a fan). I haven't had time to look through the 189 pages where you got discouraged by people, but what was it particularly that put you off continuing to post? Thanks for reading
You might also want to glance at the Genesis System thread. It's another quality thread - it is focused on a particular system and the thread starter 'Real Jumper' is really tight on controlling it - however, he ended up leaving for while after so many people asked questions that were clearly answered in post 1. Real Jumper is another one of the good guys - and sacrificed a huge amount in time (and probably lost trading opportunites) to help others.

He has returned to the thread, but will now only let traders with 4+ vouch's contribute, or those he and his team will authorise through request.

The theme seems to be that too many people can't accept simple advice, they think there is holy grail outside of themselves, they aren't prepared to pay their dues in terms of effort (esp in taking time to read a quality thread from start to finish) and they feel the need to tell a thread owner why he/she is wrong.
Quoting goldenmember
{quote} Thanks for the reply Chris. That does sound like a bit of a nightmare. I was considering asking the admin to move my thread to the another area where it might get more responses, but i am beginning to think that less responses and a longer time to get my point across might be better (I was only going to post 1 x a day to minimise the time spent arguing). And I agree with the vouches - what exactly do they do?
You should do what I do if you have space, I will teach people how to trade when they come to visit my house plus they also get a holiday if they bring family. Trying to teach in a forum is nothing more than useless, too many silly questions ,too many hand holders. these posts are good for chit chat and a laugh. What SP did was very good and courageous but too many numpties online, be good
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
Quoting Seneca pilot
{quote} Once you begin to teach your method things will change for you. You will be persistently hammered with the same (slightly rephrased) questions over and over again. You will find that you are credited with saying things you never said. You will find that your simple set ups are over analyzed to the point that they are complicated and unworkable. You will find that people want you to explain in detail every aspect of your trading methods and they still won't be followed.... Chris.
I sympathize. Sounds similar to the son of a carpenter long ago
I have been doing this for over 25 yrs, still love trading and still love running down blind alleys looking for knowledge and learning new stuff that I've missed written by quality people that I know intuatively are on the right track. This thread was one of the latter.
My hats off to Chris and my THANKS to him.

I read all 180+ pages and it took just a handful to understand what he has found. The rest of pages proved to me the validity of what he has done. The fact he is now departing further cements that. My own personal research into what he has shared confirms it beyond all doubt.

Trading is such a personal thing. You could be making a fortune as a trader and if you showed someone exactly how you do it, they would still change it to suit their liking -- and most probably f*** it up.

Thanks again Chris.
have a good week guys
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
Another great start of a rambling thread,
Shortcuts to becoming a profitable trader
Quoting TraderLT
I am a private client investment manager. I advise on investments for high net worth individuals. Typically we hold positions for a minimum of 6/8 weeks, so I understand that this is much longer than most of the traders on FF - so most of the methods I use to build investment portfolios will be of no use here. This thread may touch upon specific trading systems but there will be no system or 'rules' found here. I will focus on concepts I have learnt from my years in the industry, working initially in sales - then moving on to investment management....
No longer trading forex. Looking for full time job.
Quoting Seneca pilot
First truth. The trader must learn to take losses. If you as a trader are unwilling to take a loss you will eventually take the mother of all losses. If the trader is unwilling to take a loss he or she will be forever closing trades with tiny gains that will never overcome their losses. This was my hardest lesson. I consider myself a pretty smart person but this one was EXTREMELY hard for me. The natural tendency for me was to move the stop to breakeven as soon as the trade was into a decent profit. Of course the market will often roll over take...

If you feel your emotions and logic wants you to go to break even when you are in decent profit, then you should have 2 orders, take profit on 1 with decent profit and manage the other order, this will help your trading and will suit your trading styles. If you are risking 1% right now, then risk 0.5% on each order, if the second order breaks and goes and makes a home run, then your 0.5% could be 3 or 5%.
Quoting Mr Alum
{quote} If you feel your emotions and logic wants you to go to break even when you are in decent profit, then you should have 2 orders, take profit on 1 with decent profit and manage the other order, this will help your trading and will suit your trading styles. If you are risking 1% right now, then risk 0.5% on each order, if the second order breaks and goes and makes a home run, then your 0.5% could be 3 or 5%.
This sounds like a great idea but it will have a very large negative effect on the profitability of your method. The best profitability is achieved when you hold your entire position to the target. Also in the long run profit targets generally perform better than holding for runners unless you are a trend follower and have great discipline. I am neither.
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