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multiple systems per pair/multiple pairs per system? 3 replies

Trading 24 hours per day, 5 days per week 14 replies

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(binned per thread starter's request) GS Journal

  • #61
  • Sep 19, 2015 12:47am Sep 19, 2015 12:47am
Alright this will be my last post in my journal and it will be consigned to oblivion thereafter and before I signed off I would like to leave this last message.

Now in order to survive and excel in this very challenging business one would need to have 3 three critical criteria:-

1. You need to have a Tracker and he is responsible to identify and spot all intraday topping or basing/bottoming. His
tool is MA coupled with Fib levels.

2. Next you will need a Trender and he is responsible to identify and spot all intraday trend change. His tool is the weekly
pivot coupled with Fib levels.

3. Last you need a vital Fibber who will be able to tell you the no 1 & 2 points above Plus he is also able to tell you the final destinations(Fractal grids) and beyond. His only vital tool is the FIB.

So that is it and good luck and if we our life journey ever will to cross path then its destined to be a very enriching experience.

Bye.
  • #62
  • Aug 15, 2018 11:55pm Aug 15, 2018 11:55pm
Wow I just realised how times fly and its almost 3 hrs ago since my last post in this journal and what a violative journey I have been thru both in my trading and personal live.
Until then my trading was not ideal and my trading plan was at best defensive and unspectacular.
I have since improve by leaps and bounds by tweaking some settings to better sync my readings on the prevailing market conditions and currently my WL% is well over 70% coupled with a very healthy and robust RRR greater than 2 up to 10. My hard stoploss is now at a very low risk of 10-15 pips and both my confidence and discipline index are as solid as it should be. I can almost trade with my eyes closed so to speak.
In fact I am now struggling as to how to share my journey in the hope to help those traders who struggled like what I did before becos I know how difficult is this business and a break thru seems almost insurmountable at times and rightfully most have given up trying which to me is a big pity after spending so much money and effort. But offering helps in a public forum has its huge challenge and frustration becos not many will take kindly to what I wanted to do and I have to put up with snides and unkind words which really sapped my energy and enthusiasm.
Anyway I am still trying and sometimes I feel inadequate trying to do all by myself bearing in mind that I am also actively trading at the same times.
Just hope to meet some like minded traders and see how I can work this thing out together with whatever help they can offer. Ensuring integrity and honesty is another humongous barrier and challenge.
Let's see how....

Cheers
GS
  • #63
  • Aug 16, 2018 12:42am Aug 16, 2018 12:42am
Just enter a ct buy @11385 with sl @11375 and tp@11425 and above or next topping signal spotted
  • #64
  • Aug 16, 2018 1:35am Aug 16, 2018 1:35am
Well done GS !
Markets are Mirrors,,Mastery of craft is mastery of self
  • #65
  • Aug 16, 2018 2:25am Aug 16, 2018 2:25am
Quoting genghistar
Just enter a ct buy @11385 with sl @11375 and tp@11425 and above or next topping signal spotted
Stop out - 10
Counter trend trade is never easy.

Hehe
  • #66
  • Aug 17, 2018 1:33am Aug 17, 2018 1:33am
No sign of topping and reversal and EU is currently consolidating to the upside until the weekend. However looking at the current momentum price is likely to be capped @ 11435 max.
Waiting for PA to top out before shorting her and most likely will happen early next week. Anyway will post again if and when that happen.

GL
  • #67
  • Aug 18, 2018 2:59am Aug 18, 2018 2:59am
Quoting genghistar
No sign of topping and reversal and EU is currently consolidating to the upside until the weekend. However looking at the current momentum price is likely to be capped @ 11435 max. Waiting for PA to top out before shorting her and most likely will happen early next week. Anyway will post again if and when that happen. GL
Even tho my read on the market was correct but I m quite surprised by the momentum. Let's see if 11465 can hold her down.

GS
  • #68
  • Aug 18, 2018 10:33am Aug 18, 2018 10:33am
Came here from the home page so a quick shoutout for saying this in your first post:

"Remember nobody including myself actually knows where the price will go eventually but becos I have learned and know how to follow the price movements, the best I can do is I will just follow wherever the price go no matter whether its bull, bear or neutral rangey markets. Its just that simple."

All the best.
Staying in my lane...
  • #69
  • Aug 18, 2018 11:09am Aug 18, 2018 11:09am
Quoting genghistar
{quote} Even tho my read on the market was correct but I m quite surprised by the momentum. Let's see if 11465 can hold her down. GS
Dear GS,

Indeed a nice read, what do you think about 1.1480 and 1.1503? I am not sure that surprising momentum will die out too quickly as I will be expecting/ watching for price to hit those levels early next week for evidence of sellers so I can also short.

You have really peaked my interest on channels, would a new channel start to forming if this bullish price action continue? I have tried to investigate how to properly draw channels and the closes I have gotten is this thread below, if you don't mind GS, can you please have a look and let me know if I am on the right track in learning to properly apply the channels. I have to definitely simplify my trading, but not sure what else to do and I do not want to resort to purchasing courses/ seminars to try and find the few key elements I am currently lacking. Apologies for trying to contact you via your personal thread, not sure how else to go about as sadly the other thread was binned. It had some nice contributions, but I agree it should be the thread starters decision to keep it open or bin it.
https://www.forexfactory.com/showthread.php?t=599079&page=3

Thank you in advance,
Kind Regards,
Tzamo
"Work hard, put in the effort, and follow your dreams..." -Me
  • #70
  • Aug 21, 2018 1:39am Aug 21, 2018 1:39am
Quoting tzamo
{quote} Dear GS, Indeed a nice read, what do you think about 1.1480 and 1.1503? I am not sure that surprising momentum will die out too quickly as I will be expecting/ watching for price to hit those levels early next week for evidence of sellers so I can also short. You have really peaked my interest on channels, would a new channel start to forming if this bullish price action continue? I have tried to investigate how to properly draw channels and the closes I have gotten is this thread below, if you don't mind GS, can you please have a look and...
I look at the chart it's too complicated to trade with too much duplicating inputs. Be patient and ask me a specific question accordingly to the prevailing market conditions which is the no 1 thing to do.
E.g. The current EU PA intra day trend has turned bullish and its on the way to test the mt trend change which breaching level is located at 11660. To validate this mt trend change after the breach PA must not cross back down past 11450 after breaching the breaching level. If it fails to hold then mt bears is still in control.
So far there is no sign of PA topping out yet and I will post if and when it happens. Pls also remember price levels are dynamic and there is what we call a price decay after a prolong time period which I will touch on it later.
Once you can grasp the initial phase of my explanation, the rests will naturally come easily. One step at a time becos there are only five.

Cheers
  • #71
  • Aug 21, 2018 1:45am Aug 21, 2018 1:45am
Quoting VEEFX
Came here from the home page so a quick shoutout for saying this in your first post: "Remember nobody including myself actually knows where the price will go eventually but becos I have learned and know how to follow the price movements, the best I can do is I will just follow wherever the price go no matter whether its bull, bear or neutral rangey markets. Its just that simple." All the best.
Tks for dropping by and I hope you are aware that's exactly what I am doing . following the flow of the PA.

Cheers.
  • #72
  • Aug 21, 2018 2:19am Aug 21, 2018 2:19am
If you are trading gold the key level is @120000 and if breached then 117000 must hold then we have a st trend reversal. Simple gold come in a grid value of....... (guess).

GL
  • #73
  • Aug 21, 2018 8:44am Aug 21, 2018 8:44am
EU price will topped out to retrace only if it drop below 11490 again. Failing which its still bullish gunning northward for 11650 level which is the mt bearish trend line of defence.

Cheers.
  • #74
  • Aug 21, 2018 2:44pm Aug 21, 2018 2:44pm
Quoting genghistar
If you are trading gold the key level is @120000 and if breached then 117000 must hold then we have a st trend reversal. Simple gold come in a grid value of....... (guess). GL
Dear genghistar,

That must be a key level since it is also a round number and the 100% extension from last major swing low at 118450. "Simple gold come in a grid value of....... "
the value is 1000. By you saying 117000, for the trend to change we must not see the push for a new simple grid zone or return to the previous lowest grid zone of 116000 - 117000.

Is the same applied to the EU you mentioned above? Simple grid of 1150 (11300 to 11450 and then to 11600 or 11660 if targeting fib 61.8 retracement level).

Can you please explain how you derived the 11490 level for the EU, cant seem to work it out currently.

Kind Regards,
Tzamo
"Work hard, put in the effort, and follow your dreams..." -Me
  • #75
  • Aug 21, 2018 6:49pm Aug 21, 2018 6:49pm
Quoting tzamo
{quote} Dear genghistar, That must be a key level since it is also a round number and the 100% extension from last major swing low at 118450. "Simple gold come in a grid value of....... " the value is 1000. By you saying 117000, for the trend to change we must not see the push for a new simple grid zone or return to the previous lowest grid zone of 116000 - 117000. Is the same applied to the EU you mentioned above? Simple grid of 1150 (11300 to 11450 and then to 11600 or 11660 if targeting fib 61.8 retracement level). Can you please explain how...
Pls forget about round numbers etc and your fibo setting needs tweaking to non standard and you are also pulling it wrong.
Repeat learn and focus on prevailing intraday market conditions first .
1 Topping or basing
2 Pull back or retracement and price consolidating.
3 Retracement or reversal {trend change}
4 PA ranging awaiting breakout or breakdown which usually happen before key news event.
5 PA fakeouts

Cheers
  • #76
  • Edited 7:08pm Aug 21, 2018 6:52pm | Edited 7:08pm
Quoting genghistar
EU price will topped out to retrace only if it drop below 11490 again. Failing which its still bullish gunning northward for 11650 level which is the mt bearish trend line of defence. Cheers.
OK spot on again and if I can get get in three or more times correctly out of five live calls then mathematically in term of RRR I cannot be wrong.
Cheers

GS
  • #77
  • Aug 22, 2018 7:54pm Aug 22, 2018 7:54pm
EU topping out if it doesn't crosses back up above 11595 to continue it's bullish drive.
Bears will only regain its dominance if 11510 level is breached and 11575 holding it down.
If that fails its likely PA will likely breached both its resistance and holding levels and develops into a rangey 150-200pips PA until next wk NFP news event.
Trade safe and GL.

GL
  • #78
  • Aug 24, 2018 12:47am Aug 24, 2018 12:47am
Quoting genghistar
{quote} Pls forget about round numbers etc and your fibo setting needs tweaking to non standard and you are also pulling it wrong. Repeat learn and focus on prevailing intraday market conditions first . 1 Topping or basing 2 Pull back or retracement and price consolidating. 3 Retracement or reversal {trend change} 4 PA ranging awaiting breakout or breakdown which usually happen before key news event. 5 PA fakeouts Cheers
Dear GS,

Can you please take a look at the following image and provide some feedback. I have tried to learn and focus on the market conditions you have mentioned. Thank you in advance.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 92 KB


Kind Regards,
Tzamo
"Work hard, put in the effort, and follow your dreams..." -Me
  • #79
  • Last Post: Aug 24, 2018 3:57am Aug 24, 2018 3:57am
I have read your journal, very agree of your point, rr above 2:1 and winrate 60% to define a robust system, but i found that accurate breach and hold level is very difficult to find, which will result in total different bias and how you define a 'breach'? candle closed above or the wick touch ?

Thanks a lot.
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