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  • #101
  • Apr 24, 2019 8:36am Apr 24, 2019 8:36am
Hi Sunny - same thing happened me over Easter and I made it out with a profit. However this is exactly the problem that needs sorted - George never elaborated on the hedging aspect ( seems to use some kind of EA or system he never went into. )

for that reason Im a bit leery about the method. It’s not stress free by any means.
  • #102
  • Apr 24, 2019 8:52am Apr 24, 2019 8:52am
I also must say I don’t get the subtleties of “grinding days”
  • #103
  • Apr 24, 2019 11:13am Apr 24, 2019 11:13am
Quoting TopCover
Hi Sunny - same thing happened me over Easter and I made it out with a profit. However this is exactly the problem that needs sorted - George never elaborated on the hedging aspect ( seems to use some kind of EA or system he never went into. ) for that reason Im a bit leery about the method. It’s not stress free by any means.
i know you have some past problems with my post, but maybe you find this of benefit, or least Anthony should

the truth is, that hedging is not necessary; can be used, or replace with SL, or neither.
the more important part is, to have a money management plan, and to get the timing of the entry/entries right.
it is not the TMA lines blindly, not even the target lines blindly.
George did comment before the importance of the sessions, how much the price have moved in a session, overall vs the ADR, etc, that already is huge help toward getting the right timing.
take today's GJ chart...
it did break slightly the yesterday's high, that is/was a valid target line....but with GJ range on the low side today, it may be a risky trade ( or riskier than usual) to take ( though yes, the price reversed in the end, but that is hindsight now, right?), for simply bcos GJ only moved today 50 pips so far, so a reversal very easily can turn into a good breakout with plenty room to run, with the next good H1 target line being like 70 pips higher....and still within the 'nothing extraordinary' ARD range...120 pips for a day would be still considered normal on GJ.
so yes, some selectiveness is needed to be applied, but George was always clear on that one....one can use the higher TFs TMA pressure zones for example for that, too. then, move to the M1 TMA ( and George is clear on that he uses different levels for this M1 timeframe!) get the entry fine tuned.
btw, i dont really use hedging, but i am also more light/selective on entries, and i dont have too many. the same, bcos of that, i could use hedging ( by pending orders) once the trades are in, would be not too difficult to do. but really not necessary to trade, as long the exposure is low; and that leads back to George money management and compounding plan; i think many familiar with that.
but again, it is basically common sense; dont over commit vs the equity size you have...have the 'power' to withstand some adverse moves, if have to. plan for it, ahead! the hedging is one possible way of planning for that.

on a small final note, George has not been trading for Easter. not bcos he wouldnt want to, but bcos sometimes is the best trade to make is not to make a trade. the low ADR/high spread Easter holidays of Friday and Monday were such days. it was great time to chat on the market, look at scenarios, but it was not the time to place a trade. everyone should be able to recognize that there are periods which far from ideal, and simple stay on the sideline. doing so, may be the best move right there. cant force the market to move, just bcos get the time to trade, the opposite, have to wait for the setup to come to your way.
sometimes diffucult to do. i know, been there, done that...2010 xmas, bucketshop, taking trades on fixed spread GJ...21 pips fixed spread....yay, good old days!

PS. good thread Anthony!
there is always, always another trade!!
  • #104
  • Apr 24, 2019 12:13pm Apr 24, 2019 12:13pm
Hi there Profit Farmer - thanks for these generous words - all very good points to note and digest. Overall the method is pretty amazing and the reminders you have stated are excellent. The range is important and sessions etc. I have had some success with hedging when necessary but I find it a bit of a thrill ride

Hey once again thank you and also thanks to Anthony for this little thread. He deserves to have great succcess which I wish for him and all of you!

Quoting profitfarmer
{quote} i know you have some past problems with my post, but maybe you find this of benefit, or least Anthony should the truth is, that hedging is not necessary; can be used, or replace with SL, or neither. the more important part is, to have a money management plan, and to get the timing of the entry/entries right. it is not the TMA lines blindly, not even the target lines blindly. George did comment before the importance of the sessions, how much the price have moved in a session, overall vs the ADR, etc, that already is huge help toward...
  • #105
  • Apr 24, 2019 5:27pm Apr 24, 2019 5:27pm
Great job with your Journal, Anthony. Well done mate
Pete
  • #106
  • Apr 24, 2019 6:51pm Apr 24, 2019 6:51pm
Quoting profitfarmer
{quote}! PS. good thread Anthony!
George has not been trading for Easter. not bcos he wouldnt want to, but bcos sometimes is the best trade to make is not to make a trade.

high spread Easter holidays of Friday

it was great time to chat on the market, look at scenarios, but it was not the time to place a trade.

everyone should be able to recognize that there are periods which far from ideal, and simple stay on the sideline. doing so, may be the best move right there.


Cheers
George
LOVE YOUR GAME WITH A PASSION ,,,,, WORK WITH A VISION ! ! ! ! !
  • #107
  • Apr 24, 2019 7:52pm Apr 24, 2019 7:52pm
Quoting AndresSR
{quote} Hi Rajandaas, I understand you....at least I try.... But...... Then why not start your own thread? ..... post your "trading journal".... Sunny opened this thread for the same purpose..... It's kind of a "personal" trading journal..... Why not do the same.....your own thread, your own views, your own setups..... Cheers Andres
Thank you Andres for your kind suggestion to Rajandaas and for being aware of what I'm trying to do here.

As soon as Rajandaas sets up his journal I'll wander over and take a look.

Cheers

Anthony
Empty your mind and let the market guide you
  • #108
  • Apr 24, 2019 7:55pm Apr 24, 2019 7:55pm
Quoting TopCover
Hi Sunny - same thing happened me over Easter and I made it out with a profit. However this is exactly the problem that needs sorted - George never elaborated on the hedging aspect ( seems to use some kind of EA or system he never went into. ) for that reason Im a bit leery about the method. It’s not stress free by any means.
Hi TC.

Thank you for stopping by and sharing your thoughts about Easter trading. I see Mr George has kindly dropped to leave a few thoughts which I greatly appreciate.

As for GRINDING DAYS. I've been going through the charts over the past 5 years for GBP JPY and starting to see a few interesting things thanks to the hints George has given in his posts in regards this topic.

Cheers Anthony
Empty your mind and let the market guide you
  • #109
  • Apr 24, 2019 7:57pm Apr 24, 2019 7:57pm
Quoting TopCover
Hi there Profit Farmer - thanks for these generous words - all very good points to note and digest. Overall the method is pretty amazing and the reminders you have stated are excellent. The range is important and sessions etc. I have had some success with hedging when necessary but I find it a bit of a thrill ride Hey once again thank you and also thanks to Anthony for this little thread. He deserves to have great succcess which I wish for him and all of you! {quote}
Also thanks for these very kind words which I've just read. Of course, I wish nothing but the best of success for you too!!
Empty your mind and let the market guide you
  • #110
  • Apr 24, 2019 7:59pm Apr 24, 2019 7:59pm
Quoting profitfarmer
{quote} i know you have some past problems with my post, but maybe you find this of benefit, or least Anthony should the truth is, that hedging is not necessary; can be used, or replace with SL, or neither. the more important part is, to have a money management plan, and to get the timing of the entry/entries right. it is not the TMA lines blindly, not even the target lines blindly. George did comment before the importance of the sessions, how much the price have moved in a session, overall vs the ADR, etc, that already is huge help toward...
Hi profifarmer.

I really appreciate you stopping by and sharing with me and others here your experience and knoweldge.

Please be certain that I'll take the time to read this post many times and absorb the learnings from it as I keep moving forward.

Cheers
Anthony
Empty your mind and let the market guide you
  • #111
  • Apr 24, 2019 8:04pm Apr 24, 2019 8:04pm
Quoting TimeTells
Great job with your Journal, Anthony. Well done mate Pete
Appreciate you stopping by Pete.

I'm super happy that I started this journal now as everyone who has stopped by so far has posted with respect and maturity which was a real distraction for me on George's thread.

The beauty is that this is just a humble personal diary for me and it is open to anyone who wants to share a thought or two in a respectful and mature way!
Empty your mind and let the market guide you
  • #112
  • Apr 24, 2019 8:11pm Apr 24, 2019 8:11pm
Quoting George AUS
{quote} George has not been trading for Easter. not bcos he wouldnt want to, but bcos sometimes is the best trade to make is not to make a trade. high spread Easter holidays of Friday it was great time to chat on the market, look at scenarios, but it was not the time to place a trade. everyone should be able to recognize that there are periods which far from ideal, and simple stay on the sideline. doing so, may be the best move right there. Cheers George
Learning every day George!!

Huge appreciation that you stop by and share your thoughts here!
Empty your mind and let the market guide you
  • #113
  • Apr 24, 2019 10:36pm Apr 24, 2019 10:36pm
Hi Anthony,
Just sent you a PM
Ben
  • #114
  • Apr 25, 2019 2:12am Apr 25, 2019 2:12am
Quoting SunnyCoast
Here's a post to let myself know that it is not always sunshine and rainbows here in SunnyCoast land. After firing off a fair amount of winning trades yesterday I got stuck in that strong move down in early NY trading. I spaced my trades poorly and have since spent the last 12 hours learning deeply about hedging even more. I intend to trade my way out of these trades but there is a hard stop hidden from my broker where I will get out. For some mysteriously strange reason I'm actually comfortable with this type of trading overnight as it presents...
Hi Anthony,

Thanks again for this thread, it's very interesting to follow.

Appreciate that you've posted this trade as many are just posting only winners. Would you share how it's all ended up and your lessons learnt?

I have mixed opinion about hedging - definitely if someone trade for investors it's a potential way to show better statistics, also for trader own psychology having less loosing trades, but this could work if you have rather frequent entry opportunities, so resolving this situation in short time period.
On the opposite side if the way someone trade does not give frequent entries then increase in swap and floating loss could play against psychology leading to mistakes.

Cheers

Alexey
  • #115
  • Apr 25, 2019 2:53am Apr 25, 2019 2:53am
It’s currently 8.50am UK. Frankfurt has been open for an hour and I’m riding strong movement down on GBPJPY to target of around 143.746 which is my key target level for this method. I will then reverse and go long if everything lines up as per rules for entry. I have nice green pips so far.

Ray
  • #116
  • Apr 25, 2019 3:36am Apr 25, 2019 3:36am
Quoting TopCover
It’s currently 8.50am UK. Frankfurt has been open for an hour and I’m riding strong movement down on GBPJPY to target of around 143.746 which is my key target level for this method. I will then reverse and go long if everything lines up as per rules for entry. I have nice green pips so far. Ray
Ray,
something key importance, that you misunderstood in the method....,George not trade to the target lines, but trade away from target lines!
ie. when the price moving down, he is looking to buy.
hope this helps!
Zoltan
there is always, always another trade!!
  • #117
  • Apr 25, 2019 4:34am Apr 25, 2019 4:34am
Quoting profitfarmer
{quote} Ray, something key importance, that you misunderstood in the method....,George not trade to the target lines, but trade away from target lines! ie. when the price moving down, he is looking to buy. hope this helps! Zoltan
Hi Zoltan / no I totally get that. This was an additional trade out to the target level BEFORE entry - I think george said that was also a feasible move if you are careful etc. So I’m basically trying for two trades - the second being the George method .

Thanks though Zoltan appreciate your help

Ray
  • #118
  • Apr 25, 2019 9:39am Apr 25, 2019 9:39am
Quoting TopCover
{quote} Hi Zoltan / no I totally get that. This was an additional trade out to the target level BEFORE entry - I think george said that was also a feasible move if you are careful etc. So I’m basically trying for two trades - the second being the George method . Thanks though Zoltan appreciate your help Ray
Now this is the start of my “George trade” upwards from the target level.... hoping for good result.

Anthony as always hope you don’t mind me posting this. Cheers bud.

Ray
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  • #119
  • Apr 25, 2019 10:13am Apr 25, 2019 10:13am
Quoting TopCover
{quote} Now this is the start of my “George trade” upwards from the target level.... hoping for good result. Anthony as always hope you don’t mind me posting this. Cheers bud. Ray {image}
good entry. right per 'rules'.
why is the TP level there? any reason?
there is always, always another trade!!
  • #120
  • Edited 11:14am Apr 25, 2019 10:24am | Edited 11:14am
Quoting profitfarmer
{quote} good entry. right per 'rules'. why is the TP level there? any reason?
What would your TP be Zoltan? Yours would be TMA centre line? Or maybe ATR based?

I set it there fairly arbitrarily but generally close it based on price action.

Ray
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