My weekly strategy for the GU showed short so I have entered Monday 00:00 GMT shorts.
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1M & 5M Scalping System (Scalping Paradise) 21 replies
A switch: from part time trading to full time trading 8 replies
A system that works for a part time trader with minimum screen time 16 replies
Dear Full time/Part time Traders – Thanks for your time and help 7 replies
Part Time Wealth Building System - "High-Low Trending" 9 replies
DislikedSo my question is did any one following the Rules posted in 1st post of this thread achived profits in either demo trading or live trading continueoulsy over a period of time (6 months will be good)? No paper trading please as we might miss the small price swings that can trigger stop losses.... Also I saw some equity and performance chanrts in the thread... how were they generated? Based on just daily prices or did they actually took price swings with in the daily candles into considetaion?Ignored
DislikedDsr....
We do know that Tkimble trades this system for real, and has had success with it. He trades other systems on other timeframes as well. So, yes it is a system that can be profitable. TKimble however does re-enter the trade even if stopped out 2 or 3 times....for myself, 2 is enough and I get out. I am sticking with this system after trying many others, but I'll need to get back to you in 5 months to tell you about results.Ignored
DislikedAlso it is needed to be used on three-four non correlated pairs like ej,uc and the like.Ignored
DislikedI thought about this as well. Can anyone point me to some info on non correlated pairs. I will google for now. Thanks Bull for the insights!!
ChrisIgnored
DislikedWell done. This is a good strategy like that. A little bit reflects my daily strategy. Also for example if the previous week closed higher than the one before go long or vice versa. Or can play with higher high/lower high and the lower low/lower high thing.Ignored
DislikedNo. It seems that the more filter I am using the less profitable whatever system I am talking about. After I have removed it and engaging myself immedaitely (no channel) based on the expected probabilities (price action) the profitability jumped by a mutiplier... Well the risk too but that is a different story.Ignored
DislikedWell you have opened my eyes with your insights and continue to monitor your Daily method and posts here on the Weekly. I am using what I am learning and look forward to continued improvement in my trading. Thanks for all you do!
ChrisIgnored
DislikedWell you have opened my eyes with your insights and continue to monitor your Daily method and posts here on the Weekly. I am using what I am learning and look forward to continued improvement in my trading. Thanks for all you do!
ChrisIgnored
DislikedSomeone (a non-trader) was watching me looking at a chart the other day and asked 'what are you looking for?'...I thought, how do I explain this?
I then had a little epiphany, 'I'm trying to figure out what everone one else is thinking', instead of looking for signals, I guess what I'm actually trying to do is get a handle on market psychology, what are the market players thinking. You look at the way the market tests a certain level, you don't know which way the market will go, but you become tuned into areas of 'interest'.
I know this all sounds very 'new age' & vauge, but this seems to be the way the market works, I have tried many data driven approaches (I have a degree in Mathematics and work in IT), but the market is simply too non-linear and chaotic. It's like weather prediction, you know a storm is coming, but until it arrives you can't really say exactly what will happen.
I just don't see how simple summation operations (like the ones which underlie most indicators) can really help in such an enviroment. Some indicators (BB, CCI) are based on standard dev. calculations, it has been common knowledge that markets are not normally distributed for years, yet people persist in trying to apply these indicators.
Weather forcasters have supercomputers number crunching 24/7, and they still can't get it right, yet people seem to think simple moving averages are somehow going to constitute an edge in the market. This, once again, is like averaging the last 5 days temperature to predict tommorow's temperature.
In saying this I am not dismissing automated trading, I just think people are barking up the wrong tree trying to use 'signals' from indicators. Yet even when systems prove flawed (e.g. Firebird / Phoenix) people still devote endless hours trying to curve fit and 'filter' the system, all they are really getting is a great random number generator. It's like people just don't want to accept what is right in front of thier eyes.
Even when people accept they have to learn to trade, they still want easy ways out, witness SRDC, a whole empire built on common trading tools (daily high/low, Fibonacci). Yet people still want to boil it down to rules, the rate at which SRDC has grown into a cult of 'Woodie' like proportions is simply amazing. Don't get me started on this whole 'gurus' crapola...
I have turned this into a off topic rant, time to shut the f**k upIgnored
DislikedI jsut would like to tell here to make sure that everyone understands very well what I am trying to stay.. This is a very good system/concept and anyone should be able to adapt successfully to their taste.Ignored
DislikedI hear ya man! Bull, if your 100SL is hit do you SAR from that point? I got stopped out on G/Y and G/U so far this week with 100SL. Both were long entries from the 50/60 pip straddle. I noticed that once it hit my SL for both it shot right back up so I am glad I did not take the SAR at this point. My U/Y short hit my 25% target for 1st lot but retraced. Stops were moved to BE, not sure where it stands right now. E/U long is stuck in a 50 pip range, but on the negative side for me and my U/CHF was negative when I left for work this morning.
I will definitely take some of the recent advice here for next week, but MM will primarily stay the same.Ignored