DislikedHi leighsww,
No bribes, here's something to sweeten for you.
Hiroko Kokubu & Kiyotsugu Amano - Etude (album Heaven)
Hiroko Kokubu & Kiyotsugu Amano - Perfidia (album Heaven & Beyond)
Katie Melua - If You Were A Sailboat ( Album Pictures)
Katie Melua - Nine million Bicycles
regardsIgnored
- #282
- Dec 5, 2007 1:32am Dec 5, 2007 1:32am
- | Joined Sep 2007 | Status: Where there's cash there's hope. | 84 Posts
If you don't ask, then whose fault is that?
Hey I asked plenty of respectful, constructive questions back here (http://forexfactory.com/showpost.php...&postcount=100) and here (http://forexfactory.com/showpost.php...&postcount=101) but no reply was forthcoming.
Maybe you need to look at why you are getting so upset and losing patience.
I am going to be honest with you for your own good ... you have not learned much from this thread, because your impatience and irritation has shown clear through with that. This will have an affect on your trading, so I recommend that you start at the beginning and read everything again and again until you have understood the lessons he has so far tried to share with us.
Your arrogance and condescension is uncalled-for (though hardly unexpected). I'm already successful in my trading; looking to improve.
Why don't you let the man speak for himself? Whenever I posted a question on feb's thread, you always had to step up to the mike there too.
This is business, not a yoga retreat..
Hugs back.
- #284
- Edited 1:50am Dec 5, 2007 1:34am | Edited 1:50am
Your arrogance and condescension is uncalled-for (though hardly unexpected). I'm already successful in my trading; looking to improve.
Why don't you let the man speak for himself? Whenever I posted a question on feb's thread, you always had to step up to the mike there too.
This is business, not a yoga retreat..
Hugs back.
Also, I am sorry if you felt that I was always taking the mike. I guess I need to look at that, as well.
Thank you for your feedback
- #288
- Dec 5, 2007 4:07am Dec 5, 2007 4:07am
- Joined Jan 2007 | Status: Trader | 11,838 Posts
Trading Levels with WRBs
not stopped, watching Leighsww baby sitting her european baby.
She;s stabbing the EURs , lets see how much they can take.
I want to thank Leighsww for convincing fti to start this thread. It's great to be given an opportunity to learn from someone so experienced.... and Leighsww please don't think that you come across as arrogant as you don't....your friendly postings are always great to read....please keep them coming.
, but it's okay. Feedback is always good to make us better people, so if fiveshorts felt what he did, then I have to step back and look through his eyes how I sounded. We must learn from feedback or we stay stuck, lol. I don't like to be stuck, there's no fun in it, haha.Ok, time to hit the sack. Good trading to everyone!!
- #290
- Edited 3:16pm Dec 5, 2007 6:00am | Edited 3:16pm
- Joined Mar 2007 | Status: Pip pip | 2,692 Posts
You don't owe me anything. I am here like everyone else, to learn, to grow (and to contribute where I can) to become a successful trader
- #293
- Edited 9:00am Dec 5, 2007 8:24am | Edited 9:00am
- Joined Nov 2007 | Status: Trader | 19,782 Posts
- #294
- Dec 5, 2007 8:27am Dec 5, 2007 8:27am
- Joined Feb 2007 | Status: Stock Broker, October 1987 | 1,281 Posts
- #295
- Dec 5, 2007 9:25am Dec 5, 2007 9:25am
I did not take his "newbie" comment seriously, lol, so I pretty much knew that he was not new to trading, however, I would have still commented what I did no matter who said it ... even fti, lol.
For me, I respect experience, however experience isn't the only criteria that determines or defines success, because there are many experienced people (whether traders, business owners, etc.) who are still unsuccessful in what they do ... RESULTS is the only quantifiable measure of success, in my opinion.
I have had 28 years owning my own business and I can, without a doubt, say I have experience, but can I not continue to learn and grow, of course I can, and will I never be wrong, of course not, and I can most certainly even say that a much lesser experienced person may be able to give me advice and feedback that I could truly benefit from.
If I judge everyone by only their "experience" and disregard those who I consider having less experience than me, then I lose much in the way of growing and learning. I lose enhancing more value into my life/business/relationships/what-have-you.
We all live to learn, as we learn to live, no matter how old we get or how much experience we have gained
As I said, I do not look at whether you have 1 or 3 or 5 or more years having trading experience, I look at what you have to say and whether it makes sense to me.
LOL, to be honest, what does "newbie" mean? Is it someone who has less than one year experience, only 2 months, who is of a certain age? I think there are some "newbies" who I have read their posts, who are quite accelerated in their knowledge and successes. Again, it shouldn't be about the label ... it's all about RESULTS.
Yes, we all have weaknesses. No one is exempt.
The main thing is to just keep an open mind and incorporate that which makes sense to you with enhancing and increasing your profitability and success
You don't owe me anything. I am here like everyone else, to learn, to grow (and to contribute where I can) to become a successful trader
I'm looking forward to learn more from this thread.
- #296
- Dec 5, 2007 10:07am Dec 5, 2007 10:07am
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
This is business, not a yoga retreat..
Hugs back.
The story of this thread seems similar to Student (in India) who wanted to become enlightened. Short version, Guru #1 tells him to sit in front of mirror asking himself over and over "who am I". Student says, that simple? Yes Guru #1 says. So he goes to another Guru. Guru #2 says it is difficult, etc etc you must do Sava selfless service which = cleaning out cow stalls. He does that for 5 years then say I have done as you asked, can I now become enlightened. Guru #2 says yes now go home and sit in front of a mirror and ask yourself over and over "who am I." Surprised student says "Pardon me, honored one, but that is what the guru down the street told me 5 years ago." "Well he was right" responded the guru.
Although that is a many centures old story I made a abbreviated version taken from Trading Chaos by Bill Williams. Excellent book for the mind as well as ahhhh indicators/strategies.
- #297
- Edited 11:18am Dec 5, 2007 11:01am | Edited 11:18am
- Joined Mar 2007 | Status: Pip pip | 2,692 Posts
Hi Leigh
I'd like to start with a bit of history and reasoning so please excuse the length....
Though I have been quite pleased with my calls and analysis, I'm still developing and refining my methods. I have not been in this game for long enough to have tested and proven it over a long time. I have moved over from intraday to short term trading only recently (short term meaning days to weeks).
My current method is to analyse the larger timeframes (monthly/weekly) and to identify the historical Support and Resistance (S/R) levels. Also, to determine what has happened around those levels - so to pick the potential reversal points and likely action. Over the last six months, every single point has generally worked as expected, initially within about 200 pips and lately within 30-70 pips. I don't think that's too bad considering that each trade has produced 3000, 2000 or 1000 pips (on the single). GBP/JPY is a fairly volatile beast.
Now, as I became more confident with my calls I realised I could move into short term trades. The benefit being that I did not have to sit in front of the computer all day (as I did with intraday) to mind my babies. The market moves a lot slower at that level and I have more time to think. The moves are also larger so news spikes and other unexpected activity is generally just noise (so less turbulent). It is my long term plan where I can trade but still have a life.
So as for pip count, I'm not sure but it will be in the several thousands. I tend to scale into positions and I like to have about 10 entries around the potential reversal point. I will not use stops at this point and the idea is to gradually reverse if the point breaks (but since I haven't needed to do this, it is untested).
Once I am clearly in profit, I will bank my most vulnerable entries and start to use progressive stops to lock in profit (at different levels for different entries). Also I tend to pick some key levels where I bank some entries with the idea to re-enter on a retrace (should the opportunity arise). As target approaches or if any potential problems are observed, pro-stops are moved closer and some entries banked. So I trade in the direction of the trend but remember this is still work in progress.
So the point is, a 1000 pip move should convert to several thousand banked. Commission is not really a consideration here. I pay a fixed 7 or 8 pip spread (depending on account) but what is important is the interest. When long (on this pair) the positive interest is nice but when short the negative interest can take away several hundred pips (over the weeks). This is not something you really need to be concerned about for intraday trading.
Also remember that fti is a master trader and I believe it will take several years to come anywhere near his level and success rate. But doing both intraday and short term is certainly fine, it really depends on your lifestyle and available time. As I have a young family, time is not always readily available.
Excuse the detail and let me know if you need further info.
PS. There is something wrong with this site. When writing long posts they happen to just disappear at times.
I'd like to start with a bit of history and reasoning so please excuse the length....
Though I have been quite pleased with my calls and analysis, I'm still developing and refining my methods. I have not been in this game for long enough to have tested and proven it over a long time. I have moved over from intraday to short term trading only recently (short term meaning days to weeks).
My current method is to analyse the larger timeframes (monthly/weekly) and to identify the historical Support and Resistance (S/R) levels. Also, to determine what has happened around those levels - so to pick the potential reversal points and likely action. Over the last six months, every single point has generally worked as expected, initially within about 200 pips and lately within 30-70 pips. I don't think that's too bad considering that each trade has produced 3000, 2000 or 1000 pips (on the single). GBP/JPY is a fairly volatile beast.
Now, as I became more confident with my calls I realised I could move into short term trades. The benefit being that I did not have to sit in front of the computer all day (as I did with intraday) to mind my babies. The market moves a lot slower at that level and I have more time to think. The moves are also larger so news spikes and other unexpected activity is generally just noise (so less turbulent). It is my long term plan where I can trade but still have a life.
So as for pip count, I'm not sure but it will be in the several thousands. I tend to scale into positions and I like to have about 10 entries around the potential reversal point. I will not use stops at this point and the idea is to gradually reverse if the point breaks (but since I haven't needed to do this, it is untested).
Once I am clearly in profit, I will bank my most vulnerable entries and start to use progressive stops to lock in profit (at different levels for different entries). Also I tend to pick some key levels where I bank some entries with the idea to re-enter on a retrace (should the opportunity arise). As target approaches or if any potential problems are observed, pro-stops are moved closer and some entries banked. So I trade in the direction of the trend but remember this is still work in progress.
So the point is, a 1000 pip move should convert to several thousand banked. Commission is not really a consideration here. I pay a fixed 7 or 8 pip spread (depending on account) but what is important is the interest. When long (on this pair) the positive interest is nice but when short the negative interest can take away several hundred pips (over the weeks). This is not something you really need to be concerned about for intraday trading.
Also remember that fti is a master trader and I believe it will take several years to come anywhere near his level and success rate. But doing both intraday and short term is certainly fine, it really depends on your lifestyle and available time. As I have a young family, time is not always readily available.
Excuse the detail and let me know if you need further info.
PS. There is something wrong with this site. When writing long posts they happen to just disappear at times.
Zoran,
I am wanting to quantify something ... can you post what your average monthly pips would be on your trades?Example: winning pips minus losing pips divided by the amount of months you've been trading with your method.
Let's say that from your above post (not even taking the one loss you incurred), this was your stats:3000 + 6000 = 9000 pips / 3 months of trading = 3000 pips per month / 20 trading days = +150 pips per day
I am wanting to quantify if the longer-term is truly more profitable than the shorter-term trading that fti uses.
I added up fti's trades for a 4 day period and he averaged +229.75 pips per day.
Now, because I don't exactly know how many months you have been trading your method and what your actual pip count was for that duration, I would need this info from you to accurately get a quantifiable result.
You see, I had recently decided to go longer-term (before I met fti) after being convinced that short-term trading wasn't profitable for me due to my commissions cutting into my profits immensely. Here's my post where I mentioned that --> http://www.forexfactory.com/showthre...56#post1711656
Okay, so after I implemented fti's method on a trade I took yesterday, the commission off my profits came to only 1.19%. Now, that's more than feasible, but I would have to continue to make a high percent of wins to losses using fti's method to continue for it to be so. This is what I will be testing.
Anyway, since you have been trading longer-term trades with good profit and high win ratio, this would be a good exercise to compare the two (long term to short term). You have really good pip moves, so I think your example would be a good one for my comparison
If there are any other traders out there who do longer-term and can give your stats, as well, would be greatly appreciated
I was thinking earlier that I could do both (long-term and short-term), but the more fti keeps saying to me, and in his posts throughout this thread, that short-term trades should be more my focus, I just want to quantify what an average profit per day would be (to be able to make the comparison) with a successful longer-term trader's results.
Thanks!