Chart09
- #42
- Apr 27, 2007 10:09am Apr 27, 2007 10:09am
- | Joined Dec 2006 | Status: Currency Trader | 148 Posts
Idea:
The first idea is to have longer moving average to support the decision and to have a better look on what actually going on.
Regards,
Andy.
Idea number 2: how not to trade based on stop and reversal, so only trade on potential trade. So market volatility is need. And we can make optimum lot usage, other than use 2 lot to cover your trade.
Regards,
Andy.
Answer:
- Anna I do not trust MACD or anything, I just using it to trigger my signal for trading. Do you know that trading has a characteristic which is similar to gambling? The only different between trading and gambling is that you can have win ratio over 50% because historical pattern repeat it self periodically. MACD histogram uses because it is the MACD plus MACD signal line representation. Meaning that when MACD positive and the different between MACD and signal line keep rising meaning that there is an uptrend. So that self explanatory.
- Yes, with money management, you can limit your self from losses. The difference between pro and amateur, some people say is in money management and how to control losses. Because admit it that you maybe have the chance to trade 50 times and can lose 50 times also in a row. That is possible although improbable. So how to cut your losses and let the profit runs.
- I advise you to take a look at chart without anything at all. No indicator at all. So you print the chart and note that the pattern before and after the reversal. Study every time frame and every move like this, then you will have the “feel” of the chart. That is called “price action” and James16 is the master of this art. This is an art and not a science. You gotta understand this. Every day spend your day looking at this printed chart. Everyday. Until you have the feel. Until you have the feel. My next advice is to have money management that control your losses. Remember that you are possible to lose 50 or even more trade in a row. Believe me. So how to cut the losses because of this.
Maybe my explanation not satisfies your question, but trading is just like live. You have to know how to live properly.
answer:
dear, andy,
so glad to receive such an outstanding reply from trader like you. you should be real trader because it seems that you accept losses as good as you accept winning. i know from your tone that you stress the money management from the system just because you believe in luck
.i saw your posting in some of the thread, you are luck worshipper. i think we could be a buddy.
sorry, back to your system, how you describe your system: DISCRETIONARY or MECHANICAL? i'm very interesting in mechanical system due to the nature of this system minimize the human error because of our natural emotional thinking.
thx, Anna
dear, andy,
so glad to receive such an outstanding reply from trader like you. you should be real trader because it seems that you accept losses as good as you accept winning. i know from your tone that you stress the money management from the system just because you believe in luck
i saw your posting in some of the thread, you are luck worshipper. i think we could be a buddy.
sorry, back to your system, how you describe your system: DISCRETIONARY or MECHANICAL? i'm very interesting in mechanical system due to the nature of this system minimize the human error because of our natural emotional thinking.
thx, Anna
Thank you very much for your generous compliment. My system is both discretionary and mechanical (the second lot is mechanical because it trades the signal exactly as state by the rule). You can understand that first lot is pure discretionary. I exit the first lot based on candlestick reversal or price action, if you prefer to say that. You understand the result from attached picture below.
Anyway, of course we could be a buddy
.Thanks,
Andy Laodeabdul
