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Simplicity is the Key

  • #2,341
  • Mar 17, 2008 6:26am Mar 17, 2008 6:26am
Hey Man:

Just came across this again! Glad to see you back. I was bummed when you stopped posting.


Congrats on your sucess.

-Bill
  • #2,342
  • Mar 17, 2008 7:13am Mar 17, 2008 7:13am
Quoting Bill37
Hey Man:

Just came across this again! Glad to see you back. I was bummed when you stopped posting.


Congrats on your sucess.

-Bill
Thanks ..Man
Hang in there .. we are here again ..Bro
Surviving in the Forex world...Sorry for that abrupt stop. Have to do something to appaise the wife, know what im saying..
  • #2,343
  • Mar 17, 2008 7:17am Mar 17, 2008 7:17am
Quoting Mr. Roboto
The primary reason for not sharing a profitable system is that once too many people start using it, the system loses its edge and stops being profitable. If you ever develop a winning system, never ever share it with anyone.
Thanks you ..Mr Roboto..
Domo Arigato
Trader 101
  • #2,344
  • Mar 17, 2008 7:19am Mar 17, 2008 7:19am
hi trader101, in my short stay yet here at FF, you have the most impressive results. great work on the system and the discipline and patience to stick to it. i think the last two count a lot.

i didn't go thru all the pages (slow reader), but i was curious about how you implement trailing stops if at all you do. if you do, what triggers you to raise them. i've checked out some charts and i noticed that if you raise it too early, there's a big chance one gets stopped out and could miss a good run-up... so with your long and winning trades, i know patience has been key. so how patient should one be before trailing the price?

more power!
  • #2,345
  • Edited 8:28am Mar 17, 2008 7:50am | Edited 8:28am
Quoting rael
hi trader101, in my short stay yet here at FF, you have the most impressive results. great work on the system and the discipline and patience to stick to it. i think the last two count a lot.

i didn't go thru all the pages (slow reader), but i was curious about how you implement trailing stops if at all you do. if you do, what triggers you to raise them. i've checked out some charts and i noticed that if you raise it too early, there's a big chance one gets stopped out and could miss a good run-up... so with your long and winning trades, i know patience has been key. so how patient should one be before trailing the price?

more power!
Hi Rael...Thanks for dropping by..
I know that a lot of people may wonder as well, why to i have to trade all these 12 currencies and not just one and just put more lottage. I will explain my trading style below:
I normally trade long term as the trend is more pronounce in the long term like 4 hours or daily or even weekly. Most traders ( as i was once started in the short term trading and i was even using the 15 min chart) like to trade short term and of course expect our trade to become postive as quickly as we could and get out. That is good but most of the time it will not be like that. I decided to go for 4 hours TF and my winning percentage greatly improve then the daily and it has improve even better. Ok now the 12 currencies... Any trend indicator is as good as any one as long as you use them in a long term trading (daily) I would say use the Slope Directional Line, the nonlagdot, the megatend, instantenous trend, the fibcalc. and many others. They are similar to each others. They all come from the MACD signal line with all the fancy names and artful colors. The point is even a 5 year old can differentiate a going up from a going down. Trade all the 12 currencies, all that are going down trade short and all the going up trade long. Most of the times you will end up positive at the end of the day. if at the beginning of the next day the signals are still the same do not close your trade just continue it and you will have a positive again the next day. Now when on the currency in your 12 trades is making a negative pips, do not worry, im sure it is being carried over by the positive trades you have. If you are trading dailies, it not like pair will just the trend just overnight.. no sir.. You will notice it before it turn negative on you. That is the reason why i am trading 12 pairs not just one, they support each other when one is in trouble. Regarding the SL.. I do not put a ny SL at the beginning of the trades (day or two) when the trade becomes +100 then i raise the SL to BE at +200 i raise to +100 and so on. But this not true all the time.. as i said more discreationery. sometimes i left the currency with no TP and SL at all like the GBPJPY and the EUR JPY they could run more than 100 in 5 min and get it back in 5 min. If you are confident of the direction of the trade then leave it like that. Remember the JPY pairs travels in groups. Also remember that USDJPY is not the leader of the group. Travel with them most of the time but not all the time.
Thats all...OK ka lang dyan ..PM me for more Q...Bro
  • #2,346
  • Mar 17, 2008 8:36am Mar 17, 2008 8:36am
Heads Up
We will be trading the GU and others in a little while. Waiting for my ducks to line up.
  • #2,347
  • Mar 17, 2008 9:18am Mar 17, 2008 9:18am
it's funny, the "redundant" currencies was one of my questions too. the obvious risk i see is when the entry is bad, then all common-currency trades will be pulled down. i guess if you really have strong signals and confident about your system, whether you trade one against just one, or many, doesn't matter much.

about SLs, i don't think i can do without them. platform or network breakdown are out of my control so i'd like to make sure the mistakes i make are my own.

as to raising stops, i also try to raise stops to just below new support levels. and sometimes use parabolic sar. i still need to find out which one is optimal for me...

hey, quite a surprise! ok lang naman dito. galing mo, bro!
  • #2,348
  • Mar 18, 2008 6:37am Mar 18, 2008 6:37am
Quoting rael
it's funny, the "redundant" currencies was one of my questions too. the obvious risk i see is when the entry is bad, then all common-currency trades will be pulled down. i guess if you really have strong signals and confident about your system, whether you trade one against just one, or many, doesn't matter much.

about SLs, i don't think i can do without them. platform or network breakdown are out of my control so i'd like to make sure the mistakes i make are my own.

as to raising stops, i also try to raise stops to just below new support levels. and sometimes use parabolic sar. i still need to find out which one is optimal for me...

hey, quite a surprise! ok lang naman dito. galing mo, bro!
Hey ..man .. I admire you for that.. You have your own way of trading, meaning you have a sytem and do not rely on others, you may pick up one or two methodologies from others but not the whole system. You develop your own philosophy and logic of trading. People may say your trading sucks, but still it is your own and you constantly make money out of it, who cares. I hope someday you may fully develop your system that you are comfortable with.
  • #2,349
  • Mar 18, 2008 10:37am Mar 18, 2008 10:37am
UPDATES
MY TRADES -- Week 3-16-08

8 ) Buy ChfJpy @ 99.39 ---- +20
9 ) Buy EurJpy @ 155.15 --- +65
10) Buy EurChf @ 1.5620--- +22
11) Buy GbpJpy @ 198.43-- +123
12) Sell AudJpy @ 91.36--- +19
13) Buy UsdJpy @ 98.38 --- +27
14) Buy UsdChf @ 0.9901--- +6
===============================
Unrealized P/L ============ +282 pips

Please note that if the USD Interest Rate Statement goes against our trade we have to close it quickly.
The Int Rate statement is @ 2:15 just watch it. Do not wait for me for closing instruction. just close it. Ill do the same in my trades.
  • #2,350
  • Mar 18, 2008 10:41am Mar 18, 2008 10:41am
Great trades once again.

I don't have enough of a balance in my account to trade all 7 at one time, but I'm doing well with the ones I picked.

Do you expect the trades to last much longer?
  • #2,351
  • Edited 10:42am Mar 18, 2008 10:41am | Edited 10:42am
Oops - missed reading the last part of your message - I'll keep my eye on the interest rate statement.
  • #2,352
  • Mar 18, 2008 11:05am Mar 18, 2008 11:05am
Quoting hansel
Great trades once again.

I don't have enough of a balance in my account to trade all 7 at one time, but I'm doing well with the ones I picked.

Do you expect the trades to last much longer?
if the Interest Rate statement will come out to our favor (which i am expecting) we will be staying here for a long while else exit quickly.
  • #2,353
  • Mar 18, 2008 11:57am Mar 18, 2008 11:57am
Now the market is back at the original position before the Interest Rate Statement. Im still trading the original trade we had, i was expecting a 0.5% not a 0.75% but anyways the 0.75% is already priced-in. So in my estimation the market will move for a brief moment but will revert back to the original position.
  • #2,354
  • Mar 18, 2008 12:02pm Mar 18, 2008 12:02pm
UPDATES
MY TRADES -- Week 3-16-08

8 ) Buy ChfJpy @ 99.39 ---- +5
9 ) Buy EurJpy @ 155.15 --- +51
10) Buy EurChf @ 1.5620--- +37
11) Buy GbpJpy @ 198.43-- +153
12) Sell AudJpy @ 91.36--- +61
13) Buy UsdJpy @ 98.38 --- +79
14) Buy UsdChf @ 0.9901--- +71
===============================
Unrealized P/L ============ +447 pips
  • #2,355
  • Mar 18, 2008 12:47pm Mar 18, 2008 12:47pm
SUMMARY FOR THE WEEK (3-16-08)

1) Sell GbpJpy @ 194.16--- Loss -100
2) Sell AudJpy @ 89.27 --- Loss -100
3) Sell EurJpy @ 152.91--- Loss -100
4) Sell ChfJpy @ 98.91 --- Gained +5
5) Buy AudUsd @ 0.9274--- Loss -5
6) Buy NzdUsd @ 0.8088--- Loss -14
7) Buy GbpUsd @ 2.0138---Gained +12
8 ) Buy ChfJpy @ 99.39--- Gained +43
9 ) Buy EurJpy @ 155.15---Gained +97
10) Buy EurChf @ 1.5620-- Gained +17
11) Buy GbpJpy @ 198.43--Gained +206
12) Sell AudJpy @ 91.36--- Gained +104
13) Buy UsdJpy @ 98.38--- Gained +117
14) Buy UsdChf @ 0.9901--- Gained +65
================================
TOTAL for the week ======== + 347 pips
================================
  • #2,356
  • Mar 18, 2008 2:50pm Mar 18, 2008 2:50pm
Updates
MY TRADES -- Week 3-16-08

Current Trades
15) Sell EurUsd @ 1.5631 -- Now +8
16) Sell GbpUsd @ 2.0056 --Now -25
17) Buy UsdJpy @ 99.79 --Now +20
18) Buy UsdChf @ 1.0027 --Now +6
19) Buy EurJpy @ 156.21 --Now -1
20) Buy GbpJpy @ 200.72--Now +6
21) Buy AudJpy @ 92.96 --Now -5
  • #2,357
  • Mar 18, 2008 2:52pm Mar 18, 2008 2:52pm
Got a question. Why are you selling the Eur/Usd? You posted that you expect things to return to their previous levels.

Also you are buying the G/J, while it is in a retrace right now, the trend is still down.

Seems to me you are trading against the trend. Just so we are clear, I am not being critical, just questioning you for my own knowledge.

Thanks;

Bill
  • #2,358
  • Mar 18, 2008 3:11pm Mar 18, 2008 3:11pm
Quoting Bill37
Got a question. Why are you selling the Eur/Usd? You posted that you expect things to return to their previous levels.

Also you are buying the G/J, while it is in a retrace right now, the trend is still down.

Seems to me you are trading against the trend. Just so we are clear, I am not being critical, just questioning you for my own knowledge.

Thanks;

Bill
That was not included in the last trades that we have. I actually avoided the EU when it is going up in the uncharted territory. Now we are smelling blood and the giant EU is wounded. Watch out every trader will jump on it, a few red candles more and the bandwagon will start...LOL Trading GJ Long while it is on Short trend for only 4 hours to 8 hours. I know that all the JPY pairs are trending short on the Longer TF but it is not bad to take advantage the rally..isnt it...
  • #2,359
  • Mar 18, 2008 3:27pm Mar 18, 2008 3:27pm
Quoting trader101
That was not included in the last trades that we have. I actually avoided the EU when it is going up in the uncharted territory. Now we are smelling blood and the giant EU is wounded. Watch out every trader will jump on it, a few red candles more and the bandwagon will start...LOL Trading GJ Long while it is on Short trend for only 4 hours to 8 hours. I know that all the JPY pairs are trending short on the Longer TF but it is not bad to take advantage the rally..isnt it...

Great points.
I have still not mastered the fear/greed, downward spireling scenario that can happen when I start placing bad trades, especially against the trend.

I was thinking of trading with you, but I think I will just watch with envy for now ! I need to learn how to do this on my own.

-Bill
  • #2,360
  • Mar 18, 2008 3:30pm Mar 18, 2008 3:30pm
MY TRADES -- Week 3-16-08

Last Trades Summary
15) Sell EurUsd @ 1.5631 -- Loss -8
16) Sell GbpUsd @ 2.0056 --Loss -44
17) Buy UsdJpy @ 99.79 -- Gained +57
18) Buy UsdChf @ 1.0027 --Gained +0
19) Buy EurJpy @ 156.21 --Gained +74
20) Buy GbpJpy @ 200.72--Gained +97
21) Buy AudJpy @ 92.96 -- Gained +58
==============================
Profit ================= +234 pips
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