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Diary of a Mad Surfer

  • #61
  • Jan 14, 2008 2:13am Jan 14, 2008 2:13am
Here is "the squeeze" on the NZDUSD daily. as you can see it has been going to the right for some time now, stoch is whipsaw and macd is flat from here it looks as if the guppy lines are starting to separate and go up, so do I buy? Well thats where naked charts come in and if you zoom out of the daily you will find it's at the top of a triangle and a resistance line so right now wouldn't be the best time to buy however if it does break then yes I will be buying. But for now it's best to wait even though we have all of the normal signals to go in however we dont know if this range is finished yet.
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  • #62
  • Jan 14, 2008 2:57am Jan 14, 2008 2:57am
[quote=Big Wave Rider;1800198]I just got a pm from a guy who is interested on the difference between my method and the gmma method and if I still use the gmma method. Yes I still do use the gmma method but not for signals so much as just pure observation. Just another tool in the tool box. I have the gmma's with stoch, and macd. I said I don't trade with indicators and I don't, but I do look at them for observation,....

Thanks BWR,

I'll be following your new thread and methodology. It would be
refreshing to move away from the craziness and emotions of scalping.

I hope you'll continue to share your trading thoughts and signals here
as often (or infrequently) as you view the charts including any GMMA.

Dr. D.
  • #63
  • Jan 14, 2008 3:23am Jan 14, 2008 3:23am
[quote=fourxtrader;1800262]
Quoting Big Wave Rider
I just got a pm from a guy who is interested on the difference between my method and the gmma method and if I still use the gmma method. Yes I still do use the gmma method but not for signals so much as just pure observation. Just another tool in the tool box. I have the gmma's with stoch, and macd. I said I don't trade with indicators and I don't, but I do look at them for observation,....

Thanks BWR,

I'll be following your new thread and methodology. It would be
refreshing to move away from the craziness and emotions of scalping.

I hope you'll continue to share your trading thoughts and signals here
as often (or infrequently) as you view the charts including any GMMA.

Dr. D.
I wasn't sure if you wanted to be identified because of the p.m but yes I will be sharing the guppy method as well. I wanted to add it to this thread just never got around to it until I got your p.m so thanks for giving me the motivation. Signals are going strong for CHF against euro, pound, USD and CAD as well, I am long Swiss
Just Trade It
  • #64
  • Jan 14, 2008 8:47am Jan 14, 2008 8:47am
Here is the EURCHF weekly, is it just me or are alot of other pairs starting to make H&S patterns on weekly charts? anyways as I said before the CHF is gaining strength against all pairs except the yen where they are caught in a tango. I am currently long CHF against USD, EUR and loving it against the GBP, I took that trade last week up 350 pips plus I added to it, still long EU, AU, Just sitting back and watching the pips grow
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  • #65
  • Jan 14, 2008 8:49am Jan 14, 2008 8:49am
[quote=Big Wave Rider;1782356]So since I am not allowed to share my mentors system I created one of my own which is a simplified cut down version that I know can be just as accurate at winning pips consistently. And since similar systems are out there I will post this in the journel section as not to compete with someone who has the same system but with different numbers,
so here it is.

Could you share what you mean necessitating the creation of your journal.
I'm not familiar with rules here at FF on establishing a strategy thread, or
trading system thread. Are you limited or restricted in what you are sharing?

You mention a cut down version of your mentor's system.
How is your selection of numbers preferred over your mentor's.

PM me if this is not allowable here. Is this a discussion thread?

thanks,

Dr. D.
  • #66
  • Jan 14, 2008 9:04am Jan 14, 2008 9:04am
[quote=fourxtrader;1800876]
Quoting Big Wave Rider
So since I am not allowed to share my mentors system I created one of my own which is a simplified cut down version that I know can be just as accurate at winning pips consistently. And since similar systems are out there I will post this in the journel section as not to compete with someone who has the same system but with different numbers,
Quoting Big Wave Rider
so here it is.

Could you share what you mean necessitating the creation of your journal.
I'm not familiar with rules here at FF on establishing a strategy thread, or
trading system thread. Are you limited or restricted in what you are sharing?

You mention a cut down version of your mentor's system.
How are your selection of numbers preferred over your mentor's.

PM me if this is not allowable here. Is this a discussion thread?

thanks,

Dr. D.
No it has nothing to do with that, my mentor is my friend who believes that if other people know about his system then it won't work anymore and I made a promise to not share it and I keep my word. I came up with this system because I wanted to share why I was getting into a trade and be able to show charts and analysis and maybe, hopefully help people to be better traders, I still use my mentors system as another tool for observation, but I prefer my new system as it is more simple and easier to look at.
Just Trade It
  • #67
  • Jan 14, 2008 9:21am Jan 14, 2008 9:21am
[quote=Big Wave Rider;1800902]
Quoting fourxtrader

No it has nothing to do with that, my mentor is my friend who believes that if other people know about his system then it won't work anymore and I made a promise to not share it and I keep my word. I came up with this system because I wanted to share why I was getting into a trade and be able to show charts and analysis and maybe, hopefully help people to be better traders, I still use my mentors system as another tool for observation, but I prefer my new system as it is more simple and easier to look at.



I've been hanging with the GJ for months. It's a challenge and probably
far too much volatility to comfortably leave the PC for hours unless a
very small relative trade risk is entered.

You mention following the yen pairs and only trading the AJ in that group.
Sometime you might share your reasons to prefer commodity pairs.

With your long term positioning, I suppose your view of large retracements
are built in with your 8X13 crosses on the larger TF's?

Could you share some of your exit strategies? Any trades using trailing
stops?

Sorry for all the questions.

thanks again,

Dr. D.
  • #68
  • Jan 14, 2008 9:51am Jan 14, 2008 9:51am
[quote=fourxtrader;1800927]
Quoting Big Wave Rider




I've been hanging with the GJ for months. It's a challenge and probably
far too much volatility to comfortably leave the PC for hours unless a
very small relative trade risk is entered.

You mention following the yen pairs and only trading the AJ in that group.
Sometime you might share your reasons to prefer commodity pairs.

With your long term positioning, I suppose your view of large retracements
are built in with your 8X13 crosses on the larger TF's?

Could you share some of your exit strategies? Any trades using trailing
stops?

Sorry for all the questions.

thanks again,

Dr. D.
AJ responds after GJ an UJ so you can see the move first on those pairs and then go get the same move on AJ and EJ.(not the same amount of pips but at least positive pips) I think GJ is more gambling than trading because you can have a correct analysis and still get knocked out by a small 100 pip move before it turns back into your direction. some times I will scalp it with small lots during news but thats more for fun and thats not trading its gambling. Yes some people can be successful at trading this pair but it's very risky.

Long term trades would be the 13x100 on the 4hr and then confirmed on the daily.
Exits would be (assuming I am already a few hundred pips in profit) would be 13x100 on the 4hr, if you wait for the daily you give back too many pips. But I also look at trendlines, Fibo's and patterns to determine a better exit. Trading the 13x100 takes ALOT of discipline and patience, And it is possible to give all of your profit away, (which would of been the case the last few months in most pairs) this system is still relatively new to me so I have not had the opportunity to test which is the best exit on a long term trade, is it the 13x100 on the 4hr or the 8x13 on the weekly? I don't know. Thats why I said its still a work in progress but from backtesting I would have to say you keep more pips if you use the 13X100 on the 4hr.
Also the 13x100 on the weekly and monthly charts produces thousands of pips but no opportunities for those trades have presented themselves yet. And if you can trade that then your more of an investor than a trader because those trades will last for years.
Just Trade It
  • #69
  • Jan 14, 2008 10:47am Jan 14, 2008 10:47am
[quote=fourxtrader;1800927]
Quoting Big Wave Rider




I've been hanging with the GJ for months. It's a challenge and probably
far too much volatility to comfortably leave the PC for hours unless a
very small relative trade risk is entered.

You mention following the yen pairs and only trading the AJ in that group.
Sometime you might share your reasons to prefer commodity pairs.

With your long term positioning, I suppose your view of large retracements
are built in with your 8X13 crosses on the larger TF's?

Could you share some of your exit strategies? Any trades using trailing
stops?

Sorry for all the questions.

thanks again,

Dr. D.
Hello Dr. D!

Great to see you on BWR's thread. Ever since I moved to trading on higher TF's, I just can not find myself going back to anything else. I wish you the best of luck and thousand of pips to come everyone's way!
Humble Lifetime Member
  • #70
  • Jan 14, 2008 11:29am Jan 14, 2008 11:29am
[quote=Ash;1801060]
Quoting fourxtrader

Hello Dr. D!

Great to see you on BWR's thread. Ever since I moved to trading on higher TF's, I just can not find myself going back to anything else. I wish you the best of luck and thousand of pips to come everyone's way!
Ash,

Good memories come from our days at Aus's thread. It's good to see
a familiar name here.

I was led here in a tortuous (and nearly torturous) fashion in an effort
to learn all I can on ma's. First, Aus' 5sma and then someone else's 50 ema
then a 100 and on to multiple mas with Guppy. I couldn't make much sense
of Linux's scalping method.

I guess this isn't a discussion thread so perhaps you could PM me with
your past and present trading experience using ma's.

As BWR has said.... some pairs are far more gamble than trading. I think
it's time for me to move away from exclusively trading / scalping the GJ.
It's driving me nuts watch many exits return in the direction of my analysis.

I still remember you sharing your huge windfall after leaving a trade open for
days or weeks. I'd be interested in any updates on that particular success.

thanks for the greeting,

Dr. D.
  • #71
  • Jan 14, 2008 12:29pm Jan 14, 2008 12:29pm
Quoting fourxtrader;1800927<br /> <br /> <img data-emoji="thumbsup" alt="" width="18" height="18" loading="lazy" class="emoji" src="https://resources.faireconomy.media/images/emojis/64/1f44d.png?v=15.1"><br /> <br /> [I
. [/i] I suppose your view of large retracements
are built in with your 8X13 crosses on the larger TF's?

Any trades using trailing
stops?

Sorry for all the questions.

thanks again,

Dr. D.
Sorry I forgot to answere these questions, yes retracements are factored in with the 8x13 on the 4hr and daily. 8x13 suck on weekly, if you want to be a weekly trader than follow the 13x100 which actually happend a few days ago for GBPCHF and its getting ready to cross on the monthly charts as well. and since I am up almost 400 pips I moved up my stop loss to 100 pips profit,
This pair dosnt move like GJ so I am not worried about a 200 pip swing and can moniter it daily, and thats how I treat most stop losses. I let the price go up 100 pips then move it up so I am 20 pips in profit, then when I have 200+ pips I will move it to 100 pips profit and even if it goes to 400 pips and then back down at least I have 100 pips profit, but normally I would have an exit signal by then. Trade off of the weekly, daily and 4hr charts and your stress goes down 100 points because you can actually leave your charts with a position open, plus it only takes a few minutes to look at the daily and say "no reason to get out just yet", and go on with your life. Like I said in the first post take all time frames under 1hr away so you are not even tempted to look at the noise, trust me you wont miss it. I only look at the 1hr charts for better "timing" on entering a trade but my conclusion to go in was based off of daily and 4hr charts. Once I am in the trade with some profit I dont even look at the 1hr chart again. In fact I am going to start trading more on the weekly and may get rid of the 1hr and use the 4hr for timing. But for now this is what I am use to from my mentors system of using the 1hr for timing only and not for analysis.
Just Trade It
  • #72
  • Jan 14, 2008 1:21pm Jan 14, 2008 1:21pm
Quoting Big Wave Rider
Sorry I forgot to answere these questions, yes retracements are factored in with the 8x13 on the 4hr and daily. 8x13 suck on weekly, if you want to be a weekly trader than follow the 13x100 which actually happend a few days ago for GBPCHF and its getting ready to cross on the monthly charts as well. and since I am up almost 400 pips I moved up my stop loss to 100 pips profit,
This pair dosnt move like GJ so I am not worried about a 200 pip swing and can moniter it daily, and thats how I treat most stop losses. I let the price go up 100 pips then move it up so I am 20 pips in profit, then when I have 200+ pips I will move it to 100 pips profit and even if it goes to 400 pips and then back down at least I have 100 pips profit, but normally I would have an exit signal by then. Trade off of the weekly, daily and 4hr charts and your stress goes down 100 points because you can actually leave your charts with a position open, plus it only takes a few minutes to look at the daily and say "no reason to get out just yet", and go on with your life. Like I said in the first post take all time frames under 1hr away so you are not even tempted to look at the noise, trust me you wont miss it. I only look at the 1hr charts for better "timing" on entering a trade but my conclusion to go in was based off of daily and 4hr charts. Once I am in the trade with some profit I dont even look at the 1hr chart again. In fact I am going to start trading more on the weekly and may get rid of the 1hr and use the 4hr for timing. But for now this is what I am use to from my mentors system of using the 1hr for timing only and not for analysis.
BWR,

What a refreshing approach. I would like to master it. I'm sure
it boils down to discipline and MM once the principles are in place.

I hope you can use some of these Q&A sessions to build your
#1 post (rules) on this thread to guide other traders/ investors.

I imagine this thread will be sparse with activity if all trades are
weekly. lol

Dr. D.
  • #73
  • Jan 14, 2008 1:36pm Jan 14, 2008 1:36pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting fourxtrader
BWR,

What a refreshing approach. I would like to master it. I'm sure
it boils down to discipline and MM once the principles are in place.

I hope you can use some of these Q&A sessions to build your
#1 post (rules) on this thread to guide other traders/ investors.

I imagine this thread will be sparse with activity if all trades are
weekly. lol

Dr. D.

were only 5 pages in, i bet we soon see others turning up with the same old - i can't be Ar**** to read the thread so how do i trade this - questions
  • #74
  • Jan 14, 2008 1:42pm Jan 14, 2008 1:42pm
Perhaps you've already answered these Q's:

Will you continue to post your positions in active trades and their associated
charts (not as signals) but simply to share what pairs you are currently in
and when out and their directions and the reasons why?

Also, do you intend to limit your viewing of charts to the 4hr and daily TF's
once you are well into profits and only 1hr when analyzing pairs.

Do you tend to open your charts only at the interval updates... on the
hrly or 4hrly or daily?

Now I think I'll shut up.


Dr. D.
  • #75
  • Jan 14, 2008 1:44pm Jan 14, 2008 1:44pm
Quoting fourxtrader
BWR,

What a refreshing approach. I would like to master it. I'm sure
it boils down to discipline and MM once the principles are in place.

I hope you can use some of these Q&A sessions to build your
#1 post (rules) on this thread to guide other traders/ investors.

I imagine this thread will be sparse with activity if all trades are
weekly. lol

Dr. D.
Yeah I need to refine the first post. I just hope people don't come on here and say "this strategy works great on the 5 min charts" then hijack the thread on goose chase calls, Thats why I don't really "make" calls because I don't want it to be a signal service but more a place where people can share analysis because were not making trades every time the ema's cross on the 1hr chart.
Thanks for asking those questions. When I first came here to FF I was glad I couldn't share my system and mostly just made a bunch of market related jokes (still do) But I really like to help people, especially those who want the help and not some get rich quick scheme (which is why this thread is partially hidden in the journal factory) as it is only available to those who take the path least traveled and seek their own way. And that is the way to success. Yes I hope this thread grows a little bit but not like the auslanco thread. I only want people who really want to learn and take this business serious and are like minded positive people who believe that in order to receive you first must give.
Just Trade It
  • #76
  • Jan 15, 2008 10:01am Jan 15, 2008 10:01am
EJ has finally found a direction, Daily ema's are down so this is with the trend, here is the 4hr signal
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  • #77
  • Edited 10:35am Jan 15, 2008 10:14am | Edited 10:35am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting Big Wave Rider
EJ has finally found a direction, Daily ema's are down so this is with the trend, here is the 4hr signal
how do you watch so many pairs? so entry for this should have been about 161, but when can we enter now - do we wait for a retracement to the 8ema?
  • #78
  • Jan 15, 2008 10:27am Jan 15, 2008 10:27am
Quoting MPP
Kow do you watch so many pairs? so entry for this should have been about 161, but when can we enter now - do we wait for a retracement to the 8ema?
When you mostly look at daily charts then you can watch more. Here is EJ on the daily, right now it is on a support line from the last major low, wait for a at least a 1hr candle to close under that or set a larger stop loss and wait it out. This is an impulsive wave down so it still has more room to go.
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  • #79
  • Jan 15, 2008 10:46am Jan 15, 2008 10:46am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting Big Wave Rider
When you mostly look at daily charts then you can watch more. Here is EJ on the daily, right now it is on a support line from the last major low, wait for a at least a 1hr candle to close under that or set a larger stop loss and wait it out. This is an impulsive wave down so it still has more room to go.
i'll be watching, still watching swissy, aj and eu. not sure if i can keep up with all this.

can't decide how to lay out my desktop so i can view so much info.
  • #80
  • Jan 15, 2008 10:57am Jan 15, 2008 10:57am
Quoting MPP
i'll be watching, still watching swissy, aj and eu. not sure if i can keep up with all this.

can't decide how to lay out my desktop so i can view so much info.
Easy just switch to daily or 4hr charts and then watch one screen at a time. Whats EU, EJ, EUCHF, doing? Whats USDCAD, USDCHF, NZDUSD and cable doing?
whats AU, AJ and AUDNZD doing? Whats GBPCHF, CHFJPY doing? It takes about 20 minutes To do a good analysis for all pairs when you look at the daily, and your sure to find at least one thats trending.
In short I only trade USD, EURO, AUS, NZD, CAD, CHF, JPY, GBP
thats not much. I already stated my favorites as EU, AU, AJ, USDCAD, USDNZD but when they are not doing much then the CHF and Yen probly are.
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