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  • #18,201
  • Jul 25, 2017 4:33pm Jul 25, 2017 4:33pm
Quoting Boferer
{quote} A system without an edge is no good. You might as well be calling the shots based on pure PA as you said. If the system has no edge, its just useless. Its there to deceive you in a way since you have no real understanding whats behind the PA itself. The long term approach which you utilize would fall more in the bracket of investing and not trading(daily/weekly). And the most well known system which has a true edge(and even a newbie would be able to build up on it is simply called): Information. Being informed in this game is the key which...
So what are you suggesting?
Insider trading?
Gain access to privileged information to benefit yourself?
It's illegal.
Information will always be on the sharks side,that's how gonna be and always will.
We can't change that and the institutions will never give that power.
It's like a potion that makes me immortal.
I don't wanna share it because others will take advantage of it to do bad things.
Work smarter,not harder
  • #18,202
  • Jul 25, 2017 4:48pm Jul 25, 2017 4:48pm
Quoting marcof91
{quote} So what are you suggesting? Insider trading? Gain access to privileged information to benefit yourself? It's illegal. Information will always be on the sharks side,that's how gonna be and always will. We can't change that and the institutions will never give that power. It's like a potion that makes me immortal. I don't wanna share it because others will take advantage of it to do bad things.
Being informed about whats going on/about to happen can, but does not have to be neccessarily classified as insider trading.

Of course, there is some information which is illegal, but still put to its use and there is also information which is completely legal. However, a retail trader does not have access to either of those. You have to be in those circles or close to them in order to access it.

People say that the hedge funds knew Brexit vote passed hours before the actual exit polls. Sensitive information gained through the sheer power of money.

Unless the trader acquires information (or any other sort of a backtested system with a proven edge), it is futile to think of achieving any financial freedom. You might as well give it up now if you think you cant change the fact of you being uninformed. And if you dont, you are set up to lose.
  • #18,203
  • Jul 25, 2017 4:49pm Jul 25, 2017 4:49pm
Quoting Boferer
{quote} Ive been personally very dedicated to the Aliens system and I tried out everything over the course of 1 year. One year of backtesting and forward testing. The time put into the process of just even trying to backtest this thing was insane and yet the results were similar to everything that has been posted on this forum. This system HAS NO provable edge.
But it looked like you were trying to scalp on the 1 min. That takes a very different mindset. Yes, every little blip, jump, head fake, can affect you.

MTF analysis has worked, does work, and will work. Pick a higher timeframe. Set you stop loss, set your take profit, and walk away. You won't win 100%, no one will. If all the indicators boggle you, (understandable) go to another system.
  • #18,204
  • Jul 25, 2017 5:14pm Jul 25, 2017 5:14pm
Quoting Boferer
{quote} Being informed about whats going on/about to happen can, but does not have to be neccessarily classified as insider trading. Of course, there is some information which is illegal, but still put to its use and there is also information which is completely legal. However, a retail trader does not have access to either of those. You have to be in those circles or close to them in order to access it. People say that the hedge funds knew Brexit vote passed hours before the actual exit polls. Sensitive information gained through the sheer power...
Why i would give up if i'm making money?
The tab "news" here in forex factory is enough for me and i only peek there once a week.
My information is in the charts.
Work smarter,not harder
  • #18,205
  • Jul 25, 2017 11:08pm Jul 25, 2017 11:08pm
Quoting Boferer
{quote} Being informed about whats going on/about to happen can, but does not have to be neccessarily classified as insider trading. Of course, there is some information which is illegal, but still put to its use and there is also information which is completely legal. However, a retail trader does not have access to either of those. You have to be in those circles or close to them in order to access it. People say that the hedge funds knew Brexit vote passed hours before the actual exit polls. Sensitive information gained through the sheer power...
You don't need to be successful in Forex to be a happy man. There are a lot of other opportunists out there. If you don't like trading, just quit now. If you want success in FX, you need more time. More importantly, you need positive mindset. Good luck. Although I don't use this system as is, I adopted some part of the ideas Master Alien gave us.
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #18,206
  • Jul 26, 2017 12:30am Jul 26, 2017 12:30am
Quoting Boferer
{quote} See - in order to succeed in the market, you have to have something the next guy does not. Some unfair advantage. IF the system you are working with, the method you trade, has no provable edge over the market, you are basically gambling your funds away. Is it not just trusting something that most likely isnt there if there is no reasonable explanation behind it? Because if the system had a real edge, it could be easily proven.
I think I disagree with that statement, proving an edge is not easy task. It maybe easy for a system that has high win percentage statistically.
If so can You provide Your test data history (back/forward) and a methodology for edge test?
  • #18,207
  • Jul 26, 2017 1:36am Jul 26, 2017 1:36am
Quoting heispark
{quote} You don't need to be successful in Forex to be a happy man. There are a lot of other opportunists out there. If you don't like trading, just quit now. If you want success in FX, you need more time. More importantly, you need positive mindset. Good luck. Although I don't use this system as is, I adopted some part of the ideas Master Alien gave us.
Which ideas did you find most valuable?
  • #18,208
  • Edited 2:58am Jul 26, 2017 2:25am | Edited 2:58am
Quoting jcat
{quote} But it looked like you were trying to scalp on the 1 min. That takes a very different mindset. Yes, every little blip, jump, head fake, can affect you. MTF analysis has worked, does work, and will work. Pick a higher timeframe. Set you stop loss, set your take profit, and walk away. You won't win 100%, no one will. If all the indicators boggle you, (understandable) go to another system.
Are you basing your theory of me being a scalper on my forum posts? If so, it is an incorrect assumption. I tried everything this system described in the PDFs to be sure I dont say it has no provable edge without trying everything out.

Challenging the statement that nobody wins 100 %. It could be true. Then lets say the big banks dont win 100 % time either. What makes you think you can outperform such gigantic companies if even they do not win 100 % in this game? If their winrate is small, your chances of making it big are even smaller since you are a retail trader or uninformed flow. As a retail trader you have only disadvantages. Think about what you just said, it is irrational for you to be even here if that holds true.

The math for R:R is simple. Your probabilities of hitting 1:7 R:R on the chart in a way that the price will never look back are 0,9 % to 1 %. It is called the cubic system.

Setting stop losses proves to be a mistake since it has been proven that the banks hunt for them. As ridicilous as it sounds, the traders do hunt for their customers stops and your stop might happen to be placed at the same level. I encourage you to read the published chat room conversations of the 4 pm fix scandal. It is all beautifully described there.

Quoting marcof91
{quote} Why i would give up if i'm making money? The tab "news" here in forex factory is enough for me and i only peek there once a week. My information is in the charts.
You are investing, not trading. It is different.

Quoting Songok
{quote} I think I disagree with that statement, proving an edge is not easy task. It maybe easy for a system that has high win percentage statistically. If so can You provide Your test data history (back/forward) and a methodology for edge test?
I will provide all of my data once somebody publishes their data of proving that this system has an edge. Until then, I wont be giving a years effort away for no reason.

Quoting heispark
{quote} You don't need to be successful in Forex to be a happy man. There are a lot of other opportunists out there. If you don't like trading, just quit now. If you want success in FX, you need more time. More importantly, you need positive mindset. Good luck. Although I don't use this system as is, I adopted some part of the ideas Master Alien gave us.
I do enjoy FX and trading as a whole. If you want success in FX, you have to join the sharks. (95 % of the time. I will save that 5 % for luck and somebody who has a system with an edge)
There are plenty of posts on this forums with titles "5 years of trading and no strategy" etc... Time will not help you unless you have a clear mindset on how you will achieve your unfair advantage.

I am done speaking for now. I said what had to be said.
  • #18,209
  • Edited 4:56am Jul 26, 2017 4:29am | Edited 4:56am
Quoting Zimbinga
{quote} Which ideas did you find most valuable?
I'd say multiple periods stochastics... although I am not sure if this idea originally came from master Alien...
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #18,210
  • Jul 26, 2017 7:31am Jul 26, 2017 7:31am
Quoting Boferer
{quote} I will provide all of my data once somebody publishes their data of proving that this system has an edge. Until then, I wont be giving a years effort away for no reason. {quote}
If You can provide me with a methodology what do You define as an edge and how do You test it, I will be glad to publish the data.
  • #18,211
  • Jul 26, 2017 11:47am Jul 26, 2017 11:47am
Senior members please guide on money management in intraday trading. I am losing heavily in intraday. My profit trades are more but loss amount is more. Please guide.
  • #18,212
  • Jul 27, 2017 12:04am Jul 27, 2017 12:04am
Quoting Kammgcni
Senior members please guide on money management in intraday trading. I am losing heavily in intraday. My profit trades are more but loss amount is more. Please guide.
hi kammgcni i entered a good setup with same risk reward ratio 50 pips tp 50 sl if trade against me i close this trade as soon as possible or hit my sl
if trade in profit i set my trade break even after 30 pips and remove tp and enter another trade with 30 pips sl in this case if price against me i lose only 30 pips
but if trend strong my trade give me double i open multiple positions.but set all previouse positions at breakeven when it move 30 pips in my favour..see my yesterday night trades two good setups more than 400 pips done.if both trades against me i lose maximum 100 pips but now these two gives me more than 400
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  • #18,213
  • Jul 27, 2017 12:11am Jul 27, 2017 12:11am
Quoting Kammgcni
Senior members please guide on money management in intraday trading. I am losing heavily in intraday. My profit trades are more but loss amount is more. Please guide.
Share Your transactions and profit/loss for them then we can find whats wrong. We can decide is it the money managment or that You dont have an edge on intraday.
  • #18,214
  • Jul 27, 2017 3:30am Jul 27, 2017 3:30am
Lasy people will never get the things easily, they have the habit to believe on shit without practically applying and crosschecking it and try to solve the problems.... and they BRAG wrong information all over the place. thanks to them because if this they earn less in market or lose, and due to this hardworking people earn more then expected .... this could be the same reason why sir FOREXALIEN have not revealed many of the things here and just teached basics here on thread..... love you all specially to FOREXALIEN.
In the court of lord, only love and devotion is counted...
  • #18,215
  • Jul 27, 2017 8:36am Jul 27, 2017 8:36am
Quoting Boferer
{quote} Are you basing your theory of me being a scalper on my forum posts? If so, it is an incorrect assumption. I tried everything this system described in the PDFs to be sure I dont say it has no provable edge without trying everything out. Challenging the statement that nobody wins 100 %. It could be true. Then lets say the big banks dont win 100 % time either. .
Do you think stock brokers win 100% of the time? Of course, they don't because we have funds that have gone negative. Yet, there are still retail stock traders who make money. Your assertion is silly. If the bank is truly speculating they don't achieve 100% win rate.

What you are looking for is multi-time frame analysis, to get you in the market, and have a R:R that earns you money. That is how you trade any given market.

https://www.forexfactory.com/attachm...8&d=1387646385

https://www.forexfactory.com/attachm...8&d=1500940388
  • #18,216
  • Jul 27, 2017 1:02pm Jul 27, 2017 1:02pm
Caught a nice move on GBP/JPY. Was monitoring lower TF's looking for a reversal from upper H4 BB (as per previous posts). As jcat says, it is all about MTF analysis.
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  • #18,217
  • Jul 28, 2017 2:19am Jul 28, 2017 2:19am
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  • #18,218
  • Jul 28, 2017 9:40am Jul 28, 2017 9:40am
hi aliens here is my today trades mostly trades base on rsioma +stoch divergence
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  • #18,219
  • Jul 28, 2017 11:23am Jul 28, 2017 11:23am
Quoting ayan
hi aliens here is my today trades mostly trades base on rsioma +stoch divergence {image} {image} {image} {image}
You are....an Alien?
Work smarter,not harder
  • #18,220
  • Jul 28, 2017 11:55am Jul 28, 2017 11:55am
Trading end of day is useful?
http://www.learntotradethemarket.com...day-strategies
Per aspera ad astra
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