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My trades by Dave

  • #1,741
  • Oct 27, 2006 6:59am Oct 27, 2006 6:59am
Quoting xxDavidxSxx
yea cann't really read it but thanks any way

Dave
OK, how's this?

http://img.photobucket.com/albums/v1...aler_chart.jpg
Pete. I'll get there in the end......
  • #1,742
  • Edited 8:22am Oct 27, 2006 7:25am | Edited 8:22am
I got it now.
I cann't agree with that trade style as you see its doubling down as a position goes against you in the hopes it will come back.
I am sory to say this but that isn't dealer style. First of all a dealer don't trade breakouts. Dealers trade based on the fact that the market ranges 80% of the time and that 80% of breakouts are false breaks. when a market trends the dealer loses. But thats only a loss 20% of the times as 80% don't. I guess you missed the artical I posted.





Dave


<o> </o>
  • #1,743
  • Oct 27, 2006 7:44am Oct 27, 2006 7:44am
No I didn't miss it Dave, that was the article I found on SFO, and that's the missing chart from it (i.e. Fig 1)

http://www.sfomag.com/articlepaiddet...?ID=1060200634

I certainly wouldn't trade that way, I couldn't cope with seeing the price going against me while waiting (hoping) for it to come back! :-)
Pete. I'll get there in the end......
  • #1,744
  • Oct 27, 2006 8:22am Oct 27, 2006 8:22am
Quoting handlep
No I didn't miss it Dave, that was the article I found on SFO, and that's the missing chart from it (i.e. Fig 1)

http://www.sfomag.com/articlepaiddet...?ID=1060200634

I certainly wouldn't trade that way, I couldn't cope with seeing the price going against me while waiting (hoping) for it to come back! :-)

aahh ok. Is that chart they posted giving an example of what to do or not to do? I couldn't tell. Looks like its averaging down to me. And they said dealers trade range not break outs.
what did you get from it?

Dave
  • #1,745
  • Oct 27, 2006 8:36am Oct 27, 2006 8:36am
Quoting xxDavidxSxx
aahh ok. Is that chart they posted giving an example of what to do or not to do? I couldn't tell. Looks like its averaging down to me. And they said dealers trade range not break outs.
what did you get from it?

Dave
I get it
Its a break out stradigy using dealing methology.
the auther must have stock in dealers. That stradigy is a losers stradigy. He says all that stuff then gives the opposit stradigy. Boris speaks at FXCM seminars. And anything gotten from a brokers seminar is going to work in the brokers favor....lol cleaver huh?
  • #1,746
  • Oct 27, 2006 8:41am Oct 27, 2006 8:41am
I have to say I agree with you Dave, it looks very much like averaging down to me, but as you say, they claim it is different:

<< One of the key differences between professionals and amateurs is that professionals scale into trades while amateurs average down. This statement may seem like clever wordplay, but it’s not. Let’s assume that both the professional and the amateur decide to risk two percent of their capital account on a particular trade. The professional knows full well that he will not be able to hit the exact entry point on his first attempt. Therefore, he may allocate only 0.3% of his capital to the first entry, 0.6% on the second and 1.2% to the third – and stop himself out at -2.7% away from original entry price (-2% risk).

On the other hand, the amateur will plow in with a full two-percent position, and then when the trade goes against him, he may decide to “double down again” and then average in yet a third time. At this point, the amateur has committed six percent of his capital to the trade, and if the trade continues to move against him, he will throw in his towel with a massive -12% loss (sum of -6%,-4% and -2% losses). Five disasters like that and the amateur loses 60 percent of his account. In a zero-sum game, he has just moved much closer to zero. >>

Looks like practically the same thing to me, maybe 'scaling down = averaging down, but not quite as much'
Pete. I'll get there in the end......
  • #1,747
  • Oct 27, 2006 8:43am Oct 27, 2006 8:43am
Quoting xxDavidxSxx
I get it
Its a break out stradigy using dealing methology.
the auther must have stock in dealers. That stradigy is a losers stradigy. He says all that stuff then gives the opposit stradigy. Boris speaks at FXCM seminars. And anything gotten from a brokers seminar is going to work in the brokers favor....lol cleaver huh?
Yeah, dead clever
Pete. I'll get there in the end......
  • #1,748
  • Oct 27, 2006 9:43am Oct 27, 2006 9:43am
Ok here we are on what I think.

price reached 78.6 as suspected. This cann't be a wave 4 over all because wave 4 don't come back to the start of wave 2 (see last wave chart for referance.)

I dunno what the over all long term is now but here is what I do have...

Dave
Attached Image
  • #1,749
  • Oct 29, 2006 3:47pm Oct 29, 2006 3:47pm
Hi Dave:

I'm new to the thread and your system. What I've read, so far is great.

My question to you is what time of day do you generally trade?

I'm assuming that's when you typically will put messages on this thread and make trade calls.

Thanks
ginger
  • #1,750
  • Oct 29, 2006 5:14pm Oct 29, 2006 5:14pm
Quoting forexgg
Hi Dave:

I'm new to the thread and your system. What I've read, so far is great.

My question to you is what time of day do you generally trade?

I'm assuming that's when you typically will put messages on this thread and make trade calls.

Thanks
ginger
Hi Ginger

I prefer late asia/london. I have found that my best trades are comming at this time. If I'm not in a trade by the time NY opens I probly won't get in one. Reason is if I am in one befor NY I am usually in some profits and I let it ride with a trailing s/l.
But since you got 8:30 news, 9:30 stock market open, 10:00 news, sometimes 10:30 news (all est) then the market can change direction at any one of those times. or it can start off going one way and quickly reverse and shoot the other. Emotions take over and I get screwed up.

I prefer the price to kind of ease into a signal rather than jump into one. Cann't trust the jumping signals as much and they require more of a s/l most of the time.

But I usually don't post signals. I just post the trades I have taken an hour or 2 after there taken.
since my thread says my trades by dave and not my signals by dave...lol
Its more stressfull to try to post signals too. And I need as little stress as possible cause I depend on these trades for my bills. Not like others just experimenting and demo trading. Or just making a little side money.
Thats why I don't post as many trades too. I am more selective.
Hope that fills you in on my intensions with my posts.
all that and I want people to learn to fish instead of feeding them a fish.

Dave
  • #1,751
  • Oct 29, 2006 5:46pm Oct 29, 2006 5:46pm
Thanks Dave:

I'm glad to hear you say that about NY as I too get excited and make errors in judgement that end up affecting my account.

I really enjoy your thread and I want to learn how to fish with your system.

My greatest desire right now is to be able to do this full time, so I'm working hard to get there.

Do you have a current count on your pair at this time? i'd love to see it if you do.

I just read my way to this last message today(starting early this week). I was really impressed with your beginning and how well you've done over time. Keep up the great success you are having and I look forward to walking down the EWOCCI road with you.

About the pattern drawing ea/indicator that you use with your butterflys and such, is it free or free for a price? What is it called. It's very interesting to see.

I too like trading the asian session. Less pressure for me....

thanks
ginger
  • #1,752
  • Oct 29, 2006 6:05pm Oct 29, 2006 6:05pm
currently waiting to see a correction to 1.2690 or 1.2675 and then will be looking for a long signal. 1.2617 is pivot so it might give a ewocci short signal. If I take it I won't expect it to go far.
The last 2 charts posted are from friday afternoon. Those have my current count. On the last one it shows we are comming off the top of wave 3. Wave 4 is the one I am waching for down. (should be shallow since 2 was deep) Wave 5 is the long I will be looking for.
We could even see 1.2800 by the end of the week. But that willbe determined on what this wave 4 correction looks like.


Dave
  • #1,753
  • Oct 30, 2006 3:55pm Oct 30, 2006 3:55pm
Here is a chart on last 2 Ewocci signals and expected comming Ewocci signal

Dave
Attached Image
  • #1,754
  • Oct 31, 2006 3:09am Oct 31, 2006 3:09am
Ewocci short taken 1.2711
s/l 1.2738

target 1.2650/45 range

Dave
Attached Image
  • #1,755
  • Oct 31, 2006 4:14am Oct 31, 2006 4:14am
Quoting xxDavidxSxx
Ewocci short taken 1.2711
s/l 1.2738

target 1.2650/45 range

Dave
Nice entry dude. I can see you trading this system longer than me
Anyway, is the WoodiesCCI indicator better than the normal CCI one?
Keeping it Simple
  • #1,756
  • Oct 31, 2006 4:26am Oct 31, 2006 4:26am
Quoting habeeb
Nice entry dude. I can see you trading this system longer than me
Anyway, is the WoodiesCCI indicator better than the normal CCI one?
woodies is same but prettier

since I stare at it all day I try tomake it as pleasant to look at as possible

heres a hint on that entry...when you see price try to poke past pivot and then pull back directly like that its a pivot line bounce. Plus just befor that it tried to bounce off of cci 0 line,(but pivot rejected it) and it returned to barly close below cci 0 line. So you can feel pretty good about entry.
Just takes some practice. signal usually comes just befor a move so you if you wait to long you get a late entry.

Dave
  • #1,757
  • Oct 31, 2006 4:30am Oct 31, 2006 4:30am
Quoting xxDavidxSxx
woodies is same but prettier

since I stare at it all day I try tomake it as pleasant to look at as possible

heres a hint on that entry...when you see price try to poke past pivot and then pull back directly like that its a pivot line bounce. Plus just befor that it tried to bounce off of cci 0 line,(but pivot rejected it) and it returned to barly close below cci 0 line. So you can feel pretty good about entry.
Just takes some practice. signal usually comes just befor a move so you if you wait to long you get a late entry.

Dave
I thought as much. I does look much better.
Thanx for the tip. Didn't have my pivot in. I see now what you mean.


Thanx
Habeeb
Keeping it Simple
  • #1,758
  • Oct 31, 2006 5:07am Oct 31, 2006 5:07am
Hello xxDavidxSxx,

I am interested with your Ewoci signal. May you share your Ewoci indicator to us?

Thanks
  • #1,759
  • Oct 31, 2006 5:34am Oct 31, 2006 5:34am
Quoting littlestar
Hello xxDavidxSxx,

I am interested with your Ewoci signal. May you share your Ewoci indicator to us?

Thanks
Here's the link EWOCCI
Keeping it Simple
  • #1,760
  • Oct 31, 2006 5:39am Oct 31, 2006 5:39am
Dave,
ask a mod to add the indicators and any other docs to the first post of this thread. Whenever somebody asks for it, it'll be easier to direct them to the first post, instead of posting the stuff again. Just a thought.
Keeping it Simple
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