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Southern Cross Trader

  • #3,201
  • May 23, 2019 4:16pm May 23, 2019 4:16pm
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IMPROVISE ADAPT OVERCOME
  • #3,202
  • May 24, 2019 9:00am May 24, 2019 9:00am
Quoting ghost walker
{quote} daniel when you spend the amount of time in front of the screen like we have you start to see things and the system starts to reveal things, i will be criticised for this and i don't care, but you do get to a point where you know exactly where to get in and where to get out, i have had 4 losing trades in 2yrs and all my own fault, had i listened to the system i would have won 100%, exhaustion is never wrong, keep up the good work my friend, gw
thanks gw thats one thing i wont ever do is quit, i make my mistakes i review them and i make small tweaks to what i am doing, atm only using a small account on these trades and once i master both systems i will commit more to them. Had a few exhaustion trades go against me and need to figure out how to deal with them. I dont know if i should cap my loss or if i should hedge the trade until it pulls back the other way. Im kinda going down the route of hedging as looking at my stats i think it could work places trades other way at 20 pip gaps then closing down profits as it moves. Going to trail it next week and set up pending orders for this. While i do it im going to drop my mst trades down to 0.01 until i can be more consistent.

I wouldnt care if i was you either as you have the dream life they want. Wow i hope i can get to that point some day. Can i ask roughly how many trades you take per month on average? Im starting to see the exhaustion, numbers line up then you get the candle stick patterns the stream runs out of the trade, then you wait a little more. Sometimes it loks like a perfect set up pulls up a candle or two and heads back in the same direction so i guess this is where the patience comes in.

Scalping is what i seem to be doing best at and i have found the system to show me a lot once you know the indicators and what they all mean. 100 trades and ive let some go a little more than i should have but then looking at stats out of 100 trades the best ones came with a drawdown of max 25 pips. This is without the best entry, if i wait for a better entry i can reduce my drawdown and gain more pips. Also use the gem i found for the trends i have that chart running and i find it perfect for entrys. Took me a while to find it but its a good addition.

Im not like a lot of others i have read here as i really have to make it for my family as atm everything is going into trading. There is no failing for me no matter what i have to do. Have been on holiday this week for a few days but still made 100 pips from wednesday to today. Looking forwards to when i can really up my lot size and kill it as you have
  • #3,203
  • May 24, 2019 9:01am May 24, 2019 9:01am
Quoting fareed51
{quote} agreed. I saw potential in daniel, he's positive thinker and wanted to do better. He's very active, follows money management and he's disciplined in following rules... Thumbs up daniel
thanks for your help ;-)
  • #3,204
  • May 24, 2019 10:06am May 24, 2019 10:06am
Quoting Daniel2775
{quote} thanks gw thats one thing i wont ever do is quit, i make my mistakes i review them and i make small tweaks to what i am doing, atm only using a small account on these trades and once i master both systems i will commit more to them. Had a few exhaustion trades go against me and need to figure out how to deal with them. I dont know if i should cap my loss or if i should hedge the trade until it pulls back the other way. Im kinda going down the route of hedging as looking at my stats i think it could work places trades other way at 20 pip...

You are doing great Daniel, I understand you had couple of bad 25pips DD/losing trade otherwise, thing could go ugly or disastrous to your trading account.

  1. Scalping suppose to be with SL only.
  2. Technical Swing Trading (Daily/Monthly) is without SL otherwise breakout we open hedge trade against losing trade.

GW uses SNIPER MST which is a perfect exhausted method with approx. 90% to 100% confirmed signal. We don't need SL in such confirmed signal trades, price action retrace a bit but each of your 90%-100% confirmed signal trades are winners in the end.

GW gave different shape to MST into a dashboard where you can read nihil indi + bread butter indi + Keltner + tdi for all 28 pairs in one single screen. You can read confirmed data for trend/exhaustion and open basket trades and let's suppose in your case you have a bad trade with 25pips DD, not all trades can be in DD. In such cases you close basket early in profit or BE to get rid of one bad trade.

Regardless how experience we are, but we all use money management to fight against our BAD trades.

I am too lazy to scalp but that's the only way to have FUN in forex trading otherwise technical swing trades are boring.
Anyways, I may join you soon in both GW Sniper MST + GW dashboard. We will trade together and will have fun together.

  • #3,205
  • Edited May 25, 2019 2:02am May 24, 2019 11:11pm | Edited May 25, 2019 2:02am
Quoting Daniel2775
{quote} thanks gw thats one thing i wont ever do is quit, i make my mistakes i review them and i make small tweaks to what i am doing, atm only using a small account on these trades and once i master both systems i will commit more to them. Had a few exhaustion trades go against me and need to figure out how to deal with them. I dont know if i should cap my loss or if i should hedge the trade until it pulls back the other way. Im kinda going down the route of hedging as looking at my stats i think it could work places trades other way at 20 pip...
Hi Daniel,

I don't scalp any longer, I only trade MST, and its a personal choice but I never use a stop loss either, I have seen brokers hunt them time and time again ( once you become successful brokers will use all tricks to trip you up and steal your pips ), to answer your question on how many trades I take, well it varies, sometimes I trade once a month sometimes I trade 5 times a week, it all depends on the market, you can't chase or force setups you just wait for them to come to you, if you are losing trades on exhaustion you are doing something wrong because exhaustion is never wrong, a trade most times will go against you but that's when money management comes into it and you ride it through, that's trading.

Getting back to scalping, Emonts and I are currently working on a new system that is going to be a kick-ass scalping system, stay tuned, you won't believe the stats and pips this beast is delivering, I will leave it at that for now as seeing is believing, all the best, GW

P/S Where you are now fighting for your family is where I was about 7yrs ago, I like your spirit Daniel and the way you are surgically step by step mastering this, I can see clearly by your own wording that you have uncovered things I have hidden, good job my friend, GW
IMPROVISE ADAPT OVERCOME
  • #3,206
  • Edited 8:33am May 25, 2019 7:00am | Edited 8:33am
I joined this thread late last year, downloaded the system, learned how to read the dashboard and execute the system. I'm not nearly as vocal on the boards as some of the other traders around here but this system works. It requires a ton of patience and practice but every time I see it "click" with someone new I smile and say I remember when that happened with me. Congrats Daniel2775, green pips you my friend.
  • #3,207
  • May 25, 2019 3:44pm May 25, 2019 3:44pm
Quoting urbanc0wboy
I joined this thread late last year, downloaded the system, learned how to read the dashboard and execute the system. I'm not nearly as vocal on the boards as some of the other traders around here but this system works. It requires a ton of patience and practice but every time I see it "click" with someone new I smile and say I remember when that happened with me. Congrats Daniel2775, green pips you my friend.
You have been a quiet achiever urbancOwboy, it doesn't go unnoticed, I see the hard workers and I know who the slackers are, keep at my friend, your work is not in vain and the payoff is success, GW
IMPROVISE ADAPT OVERCOME
  • #3,208
  • May 26, 2019 12:33am May 26, 2019 12:33am
Quoting Ghost Walker
{quote} You have been a quiet achiever urbancOwboy, it doesn't go unnoticed, I see the hard workers and I know who the slackers are, keep at my friend, your work is not in vain and the payoff is success, GW
A good weekend to all, I’m the same here this is the only system I will ever use, it’s taught me so much on how to discipline myself and sit back not chasing every trade, I still re-read the thread from beginning to end because there’s so much great info to learn and keep locked upstairs. I’ve said before a big thanks to gw and emonts and anybody else who have contributed to this great forum. Ps.. very intrigued by this new system excited to see when available
  • #3,209
  • May 27, 2019 2:22am May 27, 2019 2:22am
Quoting fareed51
{quote} You are doing great Daniel, I understand you had couple of bad 25pips DD/losing trade otherwise, thing could go ugly or disastrous to your trading account. Scalping suppose to be with SL only. Technical Swing Trading (Daily/Monthly) is without SL otherwise breakout we open hedge trade against losing trade. GW uses SNIPER MST which is a perfect exhausted method with approx. 90% to 100% confirmed signal. We don't need SL in such confirmed signal trades, price action retrace a bit but each of your 90%-100% confirmed signal trades are winners...
Hey, yeah so scalping im testing something this week. After having a very god few weeks and learning a lot about the system im now making tweaks to my own trading to improve it even further. On average if I wait for a pull back I can get 10 more pips so im firstly doing this. Then I have reviewed my drawdowns and the max they have been which has now allowed me to improve my trading further again. Iver worked out from 82 trades taken 75 winners and 7 losers. The 7 losers could have been reduced to around 3. As 4 were mistakes of my own.

MST exhaustion Im slowly getting it. Just going to be reviewing the 12 trades ive taken on it today to see where I went wrong and where I will improve.

I do have the dashboard but I dont use it. I find it easier to just monitor the pairs from the Dash just shwoing 24 ema and nihi list. I then check over all the pairs every 4 hours to watch the progression/ if any are close. If they are I then add them ti a post it note and watch them carefully. Ive learnt that catching these early you can get 100+ pips with an average draw down of 100 pips.

But you are right not all of them go into drawdown. That would be good. Let me know when and I will trade with you. This will hopefully improve me again
  • #3,210
  • May 27, 2019 2:29am May 27, 2019 2:29am
Quoting Ghost Walker
{quote} Hi Daniel, I don't scalp any longer, I only trade MST, and its a personal choice but I never use a stop loss either, I have seen brokers hunt them time and time again ( once you become successful brokers will use all tricks to trip you up and steal your pips ), to answer your question on how many trades I take, well it varies, sometimes I trade once a month sometimes I trade 5 times a week, it all depends on the market, you can't chase or force setups you just wait for them to come to you, if you are losing trades on exhaustion you are doing...
Thats fair enough. I only Scalp with your system as the MST trades can take a while. So I scalp in between. I find this also allows me to really get at one with the system as Im constantly watching the screen and reviewing trades each day to see where I can do better.

Yeah I think once I master Exhaustion I wont use a stop. I will just open a hedge if a trade goes against me then close it as it starts to die. But right now using a 120 pip stop loss as based on my stats it never drawsdown more than this and if it does Ive done the trade wrong. Im using as stop loss for now for my own mistakes. But once I become as good as you I wont need one hopefully and will have more confidence in the trade.

Yeah I get that fully. One thing this is teaching me is to wait. and not trade every day.

Yeah I think my losing ones have been my own fault. GBPJPY mainly was the issue. But all this is due to Brexit. So it may have been best not to trade this until its back to normal.

That sounds exciting GW. Send to me as soon as you have it ready as I love scalping and would love to test it out.

Thanks GW yeah i am un covering little bits along the way. So far I have a word doc with 45 pages of notes. Still going and then my plan is to go back over it again after and make sure nothings been missed. It is hard work but im hoping I can make it this year
  • #3,211
  • May 27, 2019 2:30am May 27, 2019 2:30am
Quoting urbanc0wboy
I joined this thread late last year, downloaded the system, learned how to read the dashboard and execute the system. I'm not nearly as vocal on the boards as some of the other traders around here but this system works. It requires a ton of patience and practice but every time I see it "click" with someone new I smile and say I remember when that happened with me. Congrats Daniel2775, green pips you my friend.
Thats great nice to hear from you. Do yuo use MST or SCALP?
The dashboards are great.

Thanks fr your support
  • #3,212
  • May 27, 2019 3:24am May 27, 2019 3:24am
Hi GW, So reviewed my MST trades. I have taken 23 trades not all valid. I was taking some sometimes that came out of K bands then pulled back in and numbers were not there fully. So Now I have cut this out fully. I was lucky on some and won a couple lost. I am now going to be waiting on the trade foe better numbers before going in as ive seen when the numbers are not there you may get a pull back but then it will carry on the same way giving bigger numbers again.

1/5 GBPJPP Short- took 47 pips here but after review found max drawdown would have been 103 max pips to now would have been 682
2/5/= GBPCAD Short- Took 40 pips here same story 189 draw down, but then went into profit of over 600.
Few other GBP pairs taken as similar story. What I learnt from this is when the set up is right you need to have confidence in the trade. I am now using too lots so I can take one lot to get some profit locked in and let the other lot run. I am also working on Exits and trying to improve this. Not just closing the trade on a pull back as a lot of the time they have a pull back and hammer down. most of these exhausted trades when done correctly actually go for some big pips and cause a trend change also.

out of 23 trades. i won 17 of them. lost 6. out of the 6 4 of them i should not have taken as a mistake of my own! numbers never lined up and stock stack was no good.

so this would have improved my results to 19 taken, 17 won and 2 lost. The 2 that I lost here was the GBPJPY trade numbers looked good. but due to brexit news carried on flying down. I dont think I could have done anything here but open a hedge trade? One thing I wanted to ask. Is there a set value of drawdown you open a hedge or do you simply open it when it breaks out on 4 hour? i closed the trade at a drawdown of 200 pips but my money management was good here and onky lost 2% of the account. had i hedged it i would be up arounf 300 pips at this point with exhaustion still coming. on looking again the numbers were not high enough on 24 ema so i should have waited.

just for now until i get this right im running a 120 pip stop loss on trades and seeing how it goes once i get better i will cancel stop loss and set a pending order for a hedge and run with the trade. but need more confidence in my own trading first.

as of the 16/5 i now have added to my stats, TDI Arrow direction for time frames, 24ema distance and nihi trend. this will allow me to see where ive gone wrong so I can not keep making the same mistakes. June will be the time to tell and see if I can improve. As i said before im currently at break even for the month on MST.

Scalping I am doing far better and up over 400 pips. made a few changes for this week that will hopefully improve my results. Am i on the right track for MST? scalping since the 10th 23 trades and lost only 2. before 10th 57 and lost 22. so a huge improvement. Whats helped is you guys and the extra bits iver found like heat maps, trend charts and a check list before trade entry.

Cheers

Dan
  • #3,213
  • May 27, 2019 7:05am May 27, 2019 7:05am
I use the MST Daniel. I still work full time so the nature of the 4hr timeframes and infrequent exhaustion work well for me.
  • #3,214
  • May 27, 2019 8:44am May 27, 2019 8:44am
Found another gem today. Only a small trade but all rules met ;-) thanks gw
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  • #3,215
  • May 27, 2019 11:26am May 27, 2019 11:26am
Ok so got it. I have exhaustion figured out! I was missing something and now I have it! Its hidden deep but i found it! Had I waited for the session trend on 4 hour to change then i would have won all my MST trades. June here we come. GW Ill keep you updated
  • #3,216
  • May 28, 2019 12:54am May 28, 2019 12:54am
Its the waiting game atm. nothing really around. nothing moving too well. keeping an eye on GBPJPY thats about it
  • #3,217
  • May 28, 2019 1:10am May 28, 2019 1:10am
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  • #3,218
  • May 28, 2019 8:17am May 28, 2019 8:17am
Quoting Daniel2775
Found another gem today. Only a small trade but all rules met ;-) thanks gw {image}
can u plese share your template and indicators ,I downloaded latest template from GW,but I don't see all these goodies on it .thanks
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  • #3,219
  • May 28, 2019 8:49am May 28, 2019 8:49am
I dont have these 2 indicators with red arrows,please share the name of it ,I will take from paper clip,thnks
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  • #3,220
  • May 28, 2019 8:58am May 28, 2019 8:58am
Quoting T4Trade
I dont have these 2 indicators with red arrows,please share the name of it ,I will take from paper clip,thnks {image}
Sorry but you really do need to read the thread as everyone else has and understand it all. It’s not as simple as download and trade.

Things are are hidden and it’s not as simple as this. GW will get very angry so I would read them understand.

Omicron you do this people will answer genuine questions.

Ive spent weeks and weeks 14-16 hours a day setting up testing and reading
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