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  • #2,101
  • Mar 30, 2008 7:10pm Mar 30, 2008 7:10pm
Leigh, yes I remember those posts but I was wondering about frequency. That chart he posted with entries was done in hindsight to demonstrate his sequence.

Thanks for the blotter post. I can see this time he has TPs set which I didn't notice the first time. It looks like he was buying off some support area (1.4655 region) with about a 40/50 pip target and managed 5 trades that day. It looks fairly reasonable and tame. Was that day similar to your other observations? Of course market conditions vary so each day is different but I was just thinking in general terms.
  • #2,102
  • Edited 8:25pm Mar 30, 2008 7:52pm | Edited 8:25pm
Quoting Zoran
I can see this time he has TPs set which I didn't notice the first time. It looks like he was buying off some support area (1.4655 region) with about a 40/50 pip target and managed 5 trades that day.
I don't think you're reading the blotter correctly. He doesn't use predetermined areas or targets. He conducted 2 trades (dances) from the info I get from the blotter. I am considering "trade" as a single dance sequence in which his attacks/rescues are being conducted.

From my ride-alongs and understanding the method in which he trades/dances, this is how I would interpret his blotter (I'm going to number each line as it coincides with the blotter's lines, so it's easier to follow) ...

He went LONG with 2 lots - Basis 1.4660 (#1)
Approx. 40 minutes later, he bought 3 more @ 1.4652 - reaveraged Basis is now 1.4655 (#2)
4 hours later he bought 5 @ 1.4645 - Basis now 1.4650 (#3)

Now, looking at the prices and timespan, in the above, he was probably in rescue mode (although, he was already very close to his Basis (only 10 pips away), so it might have been that he went aggressive and intended/entered them for attack) ...

2 hours later, he was able to exit (T/P) and lessen his load, so SOLD 5 @1.4684, made 34 pips per troop (#3)

He still has 5 troops in at Basis 1.4650 ...

He then bought 5 @1.4666. From his previous Basis we can deduce that he was in attack mode - new Basis 1.4658 (#4)

40 minutes later, he exited ALL troops - SOLD 10 (2 @ 1.4693, 3 @ 1.4694, 5 @ 1.4695) for approx. 35 pips each (#1, #2 & #4) - he exits them each separately 1 pip apart, because his platform probably can't exit them all at once, since he originally entered them separately.

He then enters a Scout (1.4677) to start a new dance and exited that trade (1.4686) in just under 2 hours for small profit (either because he had to go to sleep, or because he saw that the PA wasn't going to continue in his direction) (#5)

So this is how I see how his trade/dance went
  • #2,103
  • Mar 31, 2008 3:46am Mar 31, 2008 3:46am
Hi Leigh

I can see he was using MT4 and the column with the green boxes is the T/P field. You can see the green ones reached target (normal behaivour to change colour) while the other one set at 1.4740 didn't reach target but was closed manually at 1.4684. He did not set a TP for his last entry and just closed it. I was a bit surprised to see the T/P field used but he may have been experimenting?

I have attached a chart for that time. Looks like his first two entries needed to be rescued and then the next one was a rescue and then attack.
Attached Image (click to enlarge)
Click to Enlarge Name: euro-5m.gif Size: 10 KB
  • #2,104
  • Edited 4:39am Mar 31, 2008 4:20am | Edited 4:39am
since we are actively discssing some related trades and techniques, i thought it would be worthwile to re-cap fti's ro3k commentary.

regards

http://www.forexfactory.com/showpost...postcount=1126
Post 1126
Quoting fti
Hi All,
This will be erased when I am finished with it.
You wanna dance .
watch you chart and learn.

Time window for selling EUR/USD opens now.
watching levels 1.4825/00
Now waiting for GBP/USD to top out.
If no one is watching I shall stop commentary.
If watching just write watching in reply then delete.
its going to be long night here.
ossible window at 1.4840/55
sold level 1 at 1.4833
Noted zoran and Northpro.
notime to answer now, daancing

now preparing attack sequence level 2
attck sequense level 2 abandoned.
toping of GBP completed.
now rescue level 2 on stand by
short eruusd 1.4838 filled
now awaiting usd/yen retracement back down tfor time window toopen
position recap short eur/usd 1.4833, 1.4838
final topping GBP/Usd expected within next 10 mins
preparingattack sequence level 2
waiting for usdyen to pomplete retrace sequence
yes in 5 min time frame
now gbp top complete
waiting for usd yen retrace sequense to complete
preparing rescue level 2
bhpho you are noted
sold gbp/usd 1.9891
srescue sold 3 x 1.4849
waiting for down swing in eur
sold gbp 1.9884
wave rider 3 you are noted
lloks like the eur and gbp refuse to run unless USd yen bottoms out
may sweep top at eur and gbp
now begining ending time window of usdyen
usd yen bottom out
preparing sell attack sequence on eur
will be fast mkr
reporting may lag
sell 5X
sold 5x 1.9884 GBP
up sweep not strong
volatility dropping
based on performance leader to sell off is GBp
bur gbp seems to have no depth
NY will be goning home soon.
wonder whats their blotter like
oh leighsww 's back
welcome back leighsww!
looks llike non event for today
will be trying to get out at the twinlight zone.
for those that cannot wait, the strategy is to get out all the positions
GBP near 1.9880
for EUR near .4830
except hold small over night short Currencies and lonfg USD
here comes
hold small long USD as in maybe 1 vs GBP ! vs EUR

ok so for those who want you should print thios now.
and I will be erasing soon. so that you chaps can chit chatty.
while I try to get out of the positions.
soory it was a congestion.
As always leighsww 's got impeckable timing.
welcome back
go ahead chatty away.
I am still stuck.
the EUR baby i testing my resolve.
nothing dangerous yet.
still in the time window zone.
will not be updating from now, gonna watch my babes
will let you all know when I get out of the positions and
I will leave small for over night due to pattern of daily and hourly.
It gonna be a long night(morning) LOL
http://www.forexfactory.com/showpost...postcount=1142
Post 1142
Quote
Just to keep you informed I am preparing rescue now.
mostly wating for the bleeding to stop in eur
and watching that usd yen close


http://www.forexfactory.com/showpost...postcount=1145
Post 1145
Quote
Hi zorn,
now is not the time to analyse.
let the leg s tell us , we are not dead in waters yet.
the mrket has gone to non dorminant plays
if it was truly up trend, we would be deep out of money by now
The market will continue to test.
this is about the hardest test zones, as it is near turn
an we are positioned near turn. and against majoy day trend
so expect a lot of pain , mostly in time
wait for the test. thy are all coiling up.
mostly stop traders are mostly sweeped out already.
Make on mistake they will test us as we are out of money but still in play
now is good time to check the duck on top to figure out
but since we are not in the banks, we just have to watch the pips movement to feel.
for now wait for bleeding to stop
EUR is being to show hand already.
but done be hasty, now timing is critical.
careful, steady, not yet crosses in play now


http://www.forexfactory.com/showpost...postcount=1148
Post 1148
Quote
There you are begining to dance
remember last leg showed volatility on the short of currenccies,
there yen crosses on at mom
probably positioning for Tokyo zone.
prepare bullets, for now
remember timing must be good .
I'm working on strategy now
do not analyse anymore just feel

The time window for the drop is now
but I got lots at this level.
so looks like rescue is called off,
try ride down from here
I am taking out 6 of my gbp at around 60.
riding on 1
eur need rescue, will determine when gbp is secured

the usd yen isn't sexy tonight.
sometnigs lurking in the shadows. but she has been weird for some time already. as you may have notived.

http://www.forexfactory.com/showpost...postcount=1153
Post 1153
Quote
Hey Zoran good for you, I am still trying to get my 70 GBP
realise how every kingdom is waiting now
whatevreyou do her would be the wrong move, except if you want to pocket some loose change

OK bot 1.9870 x6

now only sht 1
working on eur now
and where did zoran go?

http://www.forexfactory.com/showpost...postcount=1159
Post 1159
Quote
Regarding the romancing of the 3 kingdoms,its new to you, as your training was at stage one then.
You were taught how to dance properly with elementary MM.
So do catch up on the progress.
The romance is essential for proper managing.
Notice how it kept the position in the battle, when all was lost from the onset.
Other wise re-analysis would have taken us out esp the EUR position.
I guess being stopped out on Eur wouldn'[t be too bad from hindsight,
but the resilience was necessary.
In other scenerios of market gyration, it will prove critical. That you may be able to see when you are more experienced.
  • #2,105
  • Mar 31, 2008 4:32am Mar 31, 2008 4:32am
Quoting Zoran
I was a bit surprised to see the T/P field used but he may have been experimenting?
Gosh, I'm not an MT4 user so, hmmmm, that's interesting

Well, from watching fti during the ride-alongs and seeing his blotter after each, I did see "canceled" trades, but I just assumed that he was placing limit orders when he wanted to buy/sell, but since they weren't like waiting there for a long time waiting to be filled, I figured that he was entering them only a few seconds ahead of the price he wanted, then cancel them if his dance was changing - I trade this way myself. I use limit orders seconds before I want to buy/sell to get a better spread. I just find them better than using market orders which can be slipped.

However, I remember in this post --> Post #1854

... you had asked him if he places limit orders, but he said he only placed market orders, and I was a little confused about that, because I had thought he was placing limit orders when I'd see the canceled orders on his blotter.

I didn't question it, because I figured he might still be unfamiliar with using the MT4 platform and unknowingly placing limit orders without even realizing it, lol.

Anyway, I guess you're going to have to wait for fti to return back here and explain this part to you, because I haven't a clue then what that's all about.
  • #2,106
  • Mar 31, 2008 6:47am Mar 31, 2008 6:47am
Quoting leighsww
Anyway, I guess you're going to have to wait for fti to return back here and explain this part to you, because I haven't a clue then what that's all about.
Yep. I'm off also so see you when I get back. Have a nice holiday also luSan.
  • #2,107
  • Mar 31, 2008 7:25am Mar 31, 2008 7:25am
Oh my god...
on my third day recapping this thread

i realised i missed this. I was away serving "the nation"
how do i get my hands on these?

Quote
Hi ALL,
for those that missed the file.
available for a limited time, here it is again.

regards
  • #2,108
  • Mar 31, 2008 7:45am Mar 31, 2008 7:45am
bro, launching dawn attack by fti and u nvr jio!(invite in native language).

Post 1126 is the longest post i ever seen, congrats.
Still waters run deep
  • #2,109
  • Mar 31, 2008 9:22am Mar 31, 2008 9:22am
lol...

eeesh. *paiseh*.

anyway get ready to dance....the majors are doing the salsa now!
  • #2,110
  • Mar 31, 2008 12:28pm Mar 31, 2008 12:28pm
Quoting jest1081
since we are actively discssing some related trades and techniques, i thought it would be worthwile to re-cap fti's ro3k commentary.

regards

http://www.forexfactory.com/showpost...postcount=1126
Post 1126


http://www.forexfactory.com/showpost...postcount=1142
Post 1142



http://www.forexfactory.com/showpost...postcount=1145
Post 1145



http://www.forexfactory.com/showpost...postcount=1148
Post 1148


http://www.forexfactory.com/showpost...postcount=1153
Post 1153


http://www.forexfactory.com/showpost...postcount=1159
Post 1159
On post 1126 fti was waiting for a topping out of gbpusd and a bottoming of usdjpy before attacking, can anyone explain the principle or the idea here so I can get a picture of whats being accomplished in this exercise ?
  • #2,111
  • Mar 31, 2008 12:52pm Mar 31, 2008 12:52pm
Quoting leighsww
I guess that's what I basically do - look for a pair that looks good dancing the 5m at the moment. However, I do look at the 2hr and 4hr for that particular pair for trend direction, but that's basically the most TA I use when dancing. I prefer to just dance "in the moment" rather than have to do so much homework and studying of other TA material, lol. Did I mention that I never did like school, haha.

Oh, but one thing I do try to not forget to do is to look at the Calender here at FF to make sure I'm not going in before some sort of news thingy happens, lol. However, by the time I wake up, most times news had already happened, so I'm usually lucky that I can catch some great "tears" from the "after news" dancing (but only if I'm still in the direction of the 2hr/4hr trend)



You are quite right in that people need to master the dance before moving on to higher levels of education. Hey, don't worry, I'm like you ... it takes me a while to absorb everything. And, I may still not utilize everything being taught to me, cuz like I said, it may not fit with my mentality/personality, lol.

As an Artist, I like to create and let the dance move me, so too much TA just hinders my abilities to be an Artist, lol. Unfortunately, I was forced to become analytical too, cuz in my own business I had/have to take care of a lot of paperwork, legal, financial and administrative stuff. I've also got some geekiness in me, as well :, cuz in having to create and develop my own website, I had to learn coding/programming and such. I also used to be a CADD operator for my Dad's Electrical Engineering business many moons ago (before I started my own business), and through my computer skills, I also learned to develop and program spreadsheets, databases, etc. (thus, I can do the Excel stuff, although I actually use QuattroPro, but I figured that most here would be using Excel, so I had to switch - but once you know one, they're all the same, lol).

Anyway, you are on the right track with wanting to first learn to dance well, lilpip . The next step is to practice doing rescues and attacks, so that you become confident and not fear conducting them (especially, the rescues, lol).

If you are finding yourself fearing too much, then keep demo'ing until you are confident enough to go live with your skills of the dance.

I will go slow and steady with you, so together we will get there. Hold my hand and we'll dance down the yellow-brick road together, giving each other support, comfort and encouragement, along the way
Leighsww,
Thanks for the support, my account is live I'm better able to pay attention and take it serious although it is just a mini using .01 as a scout to start with. Pip wise my gains are more than my losses, altough I'd like to I'm not increasing my lot size until I gain experience. The only thing to my advantage is I never used indicators so I don't have to unlearn the use of them.
  • #2,112
  • Edited 4:43pm Mar 31, 2008 2:50pm | Edited 4:43pm
Quoting lilpip
On post 1126 fti was waiting for a topping out of gbpusd and a bottoming of usdjpy before attacking, can anyone explain the principle or the idea here so I can get a picture of whats being accomplished in this exercise ?

lilpip.

Look at these 3 charts, in particular the vertical dotted lines (time stamped at 17.40).

If you look carefully you will see that the usd/jpy is leading the turn around by one 5 min bar, both the eur/usd and the gbp/usd confirm their retrace a bar later. The way I would trade this setup is to sell either or both the eur/usd & gbp/usd on a break of the horizontal red lines I have drawn.

I hope this is of use to you.


Regards.


BabeFX.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdjpy033108.gif Size: 18 KB
Click to Enlarge Name: eurusd033108.gif Size: 15 KB
Click to Enlarge Name: gbpusd033108.gif Size: 17 KB
  • #2,113
  • Mar 31, 2008 3:33pm Mar 31, 2008 3:33pm
Quoting BabeFX
lilpip.

Look at these 3 charts, in particular the vertical dotted lines (time stamped at 17.40).

If you look carefully you will see that the usd/jpy is leading the turn around by one 5 min bar, both the eur/usd and the gbp/usd confirm their retrace a bar later. The way I would trade this setup is to sell either or both the eur/usd & gbp/usd on a break of the horizontal red lines I have drawn.

I hope thisis of use to you.


Regards.


BabeFX.
How sure are you of this behavior? ...Random or normal? If normal, then we know the future; if random, then we are back into chaos?...

If normal, then we have a market inefficiency that have not been found by the others...if random, then we are back into normal dancing...

Hey..it feels like a type of indicator... That is very doubtfull...(it reminds me a lot of my days of using indicators for trend analysis...It was always too late for the fast lane...my eyes were much faster...)

I know fti seems to use a similar mindset in the example quote lately... The 3 kingdoom are back... I better hold tight to the rocking boat in the middle of the storm

Regards,
Empty as water and soft as a facing wind mountain
  • #2,114
  • Mar 31, 2008 3:57pm Mar 31, 2008 3:57pm
Hi folk! I was absent for a while and now i am back Regarding 3 kingdoms i like to use them and i only watch for anomalies. Like 2 pairs are going are in sync other hasn't start move yet i will check what is the current sentiment (that means economic releases and some news) and than i watch for PA or some candlestick pattern to step in. 3 kingdoms cannot work all the time but they do some of the time as lincoln said. You can fool all the people some of the time, and some of the people all the time, but you cannot fool all the people all the time. Today was a very choppy day on DEMO account. I went at 1.579 short beacuse i was "gambling" good PMI was realesed and i also thought EUR/USD was overvalued. But than banks started to kill the ducks and i kept with rouge trading to shor it to the 1.5895 than i was fed up lef my trades open and went on the cycle. When i came home i end up from first -1000 USD in + 1 600 USD. I just wanna emphasize from this experience, the main reason to make a such loss was adding 5 rescue attacks in position beacuse i wanted to save first small loss of 200 USD i actually made a larger one than. THAT IS THE WAY ROUGE TRADERS DO LIKE NICK LEESON, CARVNIEL AND OTHERS. Fortunately i left the trades open as my instict said me now are banks killing ducks and also gold was down when eur/usd was up that was abnormal correlation and i didn't find any good reason for a such move. For zoran's example of driving car it's true but for instance pilots use only indicators without indicatorts they won't be able to fly. I wanna folk from you to remeber Einstein's statement. NOTHING IS CONSTANT, EVERYTHING IS RELATIVE. Trade and think like this way and you will grow your book rapidly. regards

P.S: When somebody will learn how to trade now and exclude your beliefs where pair must go, please explain me
  • #2,115
  • Mar 31, 2008 4:52pm Mar 31, 2008 4:52pm
Hi All,
I just wanted to post that I have just done my first 2 rescues today and I am not sure if I should be proud or ashamed of risking too much.
Firstly by placing several orders ahead of time, I managed to get ito a situation where I was simultaneously Long G/U, short G/J and Long E/U. That didn't last long because I moved up my catastrophic SL on G/U and was promptly stopped out - I wish I ahd moved it further , then I would have still been in profit when stopped out instead on a 37pip loss.

Then seeing some evidence of ranges in both G/J and E/J, I decided to attempt rescues. But which one to do first?
I looked at the last few 1hr bars of U/J and decided that the immediate trend was up - so decided to rescue G/J first as the running loss on this was increasing quickly.

I picked a point 5 pips below the top of the range and entered with 3 troops. It took a long time , but after nearly 1 Hr I brought all trrops + scout home for a small profit.

Then for E/J - oops looks like I picked the wrong one to do first. U/J short term trend now down (same as longer term). Same proceedure except now trying to buy at bottom of range. I was not so successful (thanks to U/J going down). So I now have total of 4 troops engaged and losses are mounting much more swiftly. Now the demo link that I use for my charting stops updating. My response on the link to my Spreadbetting company, which is normall about 2 minutes behind the price (except for order tickets) is now about 5 minutes slow. ( Note I don't use an FX broker as I am only trade at £1 per point which is their minimum and do not wish to pay Tax). So I am dancing like a blind man ( and not one like Al Pacino in 'The scent of a woman').

I decide I will have to mount another rescue attempt using up to 5% of my account (but knowing that it could easily be nearer to 10% because of being blind). This time I look for a bounce off the S/R I have chosen. This is difficult to guage when the only way to see the current(ish) price is to open an order ticket and then close it again (they are supposed to update, but are always too slow and get further and further behind on my PC). I miss my desired entry point by 4 pips but go in with another 9 troops anyhow. My timing is not quite right and I start to have another drawdown - get really worried when i think my perceived losses are about £500 (or 5% of my account).
Blind and getting broke, I just hang on . I recalculate by B/E point , add a couple of pips and set this as a t/p limit for my 9 troops trade ( I can't close all the trades at once and responce is so slow it tales up to 2 min before Iknow if i have successfully closed or opened a trade).Now I check the price ever 1 minute and when it swings back up after a 2 1/2 hrs struggle I manually bring the 3 troops home then have to wait for that to process until I can finally bring the scout back for 4 pips less.

I found the whole experience very scary, I don't know how anyone can go to more than 3 levels of rescue attempt.
I do not have the capital to be able to mount a 3rd level of rescue attempt, so found the first rescue to be OK since I had 1 more in reserve - but when you have no more reserves and are right on (or my even be over ) your limit then you need an iron constitution.

I hope i don't have to repeat that for a good long while.

Ian
  • #2,116
  • Mar 31, 2008 5:10pm Mar 31, 2008 5:10pm
Quoting luSan
How sure are you of this behavior? ...Random or normal? If normal, then we know the future; if random, then we are back into chaos?...

If normal, then we have a market inefficiency that have not been found by the others...if random, then we are back into normal dancing...

Hey..it feels like a type of indicator... That is very doubtfull...

Regards,

luSan.

I was using this as a possible example of fti's use of the 3 kingdoms(my interpretation of his meaning). I must add that on reflection it was an over simplification of an example.

Nothing is written in stone, all we are dealing with is probabilities, there are as many reasons why this set up won't work as reasons why this set up will work.

We enter the market in the direction we feel has the greater probabilty of success, sometimes we are right, thats good. Other times we are wrong & that is not so good, but with the methods proposed in this thead by fti we still have a good chance of making a small profit.

BabeFX


I am wrong until the market proves me right.
  • #2,117
  • Mar 31, 2008 5:16pm Mar 31, 2008 5:16pm
Quoting ianf0ster
Hi All,
I just wanted to post that I have just done my first 2 rescues today and I am not sure if I should be proud or ashamed of risking too much.
Firstly by placing several orders ahead of time<so you are predicting the future?>, I managed to get ito a situation where I was simultaneously Long G/U, short G/J and Long E/U. <playing multiple pair before learning how to dance a single pair>That didn't last long because I moved up my catastrophic SL <SL? We do not use that>on G/U and was promptly stopped out - I wish I ahd moved it further , then I would have still been in profit when stopped out instead on a 37pip loss. <We are never stopped out>

Then seeing some evidence of ranges in both G/J and E/J, I decided to attempt rescues. <What the connection between ranges and rescues? None!> But which one to do first?
I looked at the last few 1hr bars of U/J and decided that the immediate trend was up - so decided to rescue G/J first as the running loss on this was increasing quickly. <Analysis during the dance? No way, Jose!>

I picked a point 5 pips below the top of the range and entered with 3 troops. It took a long time , but after nearly 1 Hr I brought all trrops + scout home for a small profit.

Then for E/J - oops looks like I picked the wrong one to do first. U/J short term trend now down (same as longer term). Same proceedure except now trying to buy at bottom of range <So you know where the bottom is? I am amazed. knowing the future again>. I was not so successful (thanks to U/J going down). So I now have total of 4 troops engaged and losses are mounting much more swiftly. Now the demo link that I use for my charting stops updating. My response on the link to my Spreadbetting company, which is normall about 2 minutes behind the price (except for order tickets) is now about 5 minutes slow. ( Note I don't use an FX broker as I am only trade at £1 per point which is their minimum and do not wish to pay Tax). So I am dancing like a blind man ( and not one like Al Pacino in 'The scent of a woman'). <Hey...that is my quote...I am a blind man...b/c I do not know the future but listen to 5M song>

I decide I will have to mount another rescue attempt using up to 5% of my account (but knowing that it could easily be nearer to 10% because of being blind). <If you do not know what to do, get out fast, otherwise you are in bed with lady hope><Exit NOW!!>This time I look for a bounce off the S/R <knowing about the future again>I have chosen. This is difficult to guage when the only way to see the current(ish) price is to open an order ticket and then close it again (they are supposed to update, but are always too slow and get further and further behind on my PC). I miss my desired entry point by 4 pips but go in with another 9 troops anyhow. My timing is not quite right and I start to have another drawdown - get really worried when i think my perceived losses are about £500 (or 5% of my account).
Blind and getting broke, I just hang on . I recalculate by B/E point , add a couple of pips and set this as a t/p limit for my 9 troops trade ( I can't close all the trades at once and responce is so slow it tales up to 2 min before Iknow if i have successfully closed or opened a trade).Now I check the price ever 1 minute and when it swings back up after a 2 1/2 hrs struggle I manually bring the 3 troops home then have to wait for that to process until I can finally bring the scout back for 4 pips less.

I found the whole experience very scary, <Actually you got real lucky. It was not real money but a demo....oh well....Imagine that you do this with real money...total self-destruction!> I don't know how anyone can go to more than 3 levels of rescue attempt.
I do not have the capital to be able to mount a 3rd level of rescue attempt, <Because of poor MM and MO. You mus dance and know for sure that you can do a 3 level rescue attemp. That is a given> so found the first rescue to be OK since I had 1 more in reserve - but when you have no more reserves and are right on (or my even be over ) your limit then you need an iron constitution.

I hope i don't have to repeat that for a good long while.

Ian
...........I do hope you are joking...It gave me a great laugh!!! You broke almost every rules of fti's teaching...

Have you studied this strategy? If you did, you better start reading very slowly again....

I am very sorry indeed if you are not joking... My best advise, go to the first message and read very carefully...Read AOW...Understat WW...Check on fti and leighsww example...read carefully Mike D, Zoran, Northpro and the others, please do not try Lusan's approach. It is madening, you will be broke within the hour!...there is a lot of wisdom but you need to learn how to walk before running into the 3 kingdoom..this thing works but you must have the whole package otherwise....

Good luck
Empty as water and soft as a facing wind mountain
  • #2,118
  • Edited 6:19pm Mar 31, 2008 5:36pm | Edited 6:19pm
Hi BabeFX ...

I had prepared the following before I read your last post to luSan, but I will still post this just as an example, as well ...

This is just my opinion, but I would not have entered that trade, because my first screenshot below is what the 4hr on the E/U looks like. It's in a consolidation (and if anything, at that particular time that the PA moved up like that, it would have looked more like the PA might be continuing the LONG trend). U/J is also in a consolidation on the 4hr.

* NOTE - since your last post said that it was just an example of what fti might be explaining regarding the 3 kingdoms, I realize that it might not be a trade you would take if you evaluated that fact.

Okay, but let us go on ...

I have also taken screenshots of those anomaly times where at first it looks like E/U and G/U are going the same way and U/J going opposite, yet it ends up differently. Look at the screenshots on the left ... if one was basing their decision on the 3 kingdoms, given your examples of the entry point, you might have gone SHORT either E/U or G/U or LONG U/J where I indicate by the RED dashed lines (timestamp 6:00 NY).

The charts samples on the right are the outcomes.

If you had chosen to trade the G/U, you would have had a fast profitable battle, however if you had instead chose one of the two others, it would have been a long and hard/tough battle.

Even if these occurrences (anomalies) may happen only 5% of the time, that's still 5% too many for me to use it as any type of reliable analysis/information, lol.

I have to agree with luSan, that it's like looking at indicators and fundamentals ... sometimes they work and sometimes they don't, and because of that very fact, I have to ask myself ... why even use it? So I choose to dance each pair on their own dance floor without basing any decisions on what any other dance floor is doing.

Again, that's just me : (but I have to at least give my feedback on my experience of it).
Attached Image (click to enlarge)
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  • #2,119
  • Mar 31, 2008 5:50pm Mar 31, 2008 5:50pm
Quoting BabeFX
lilpip.

Look at these 3 charts, in particular the vertical dotted lines (time stamped at 17.40).

If you look carefully you will see that the usd/jpy is leading the turn around by one 5 min bar, both the eur/usd and the gbp/usd confirm their retrace a bar later. The way I would trade this setup is to sell either or both the eur/usd & gbp/usd on a break of the horizontal red lines I have drawn.

I hope this is of use to you.


Regards.


BabeFX.
Great observation, I'll watch for this to take place in the future and watch the results. thanks
  • #2,120
  • Mar 31, 2008 6:02pm Mar 31, 2008 6:02pm
Quoting mijamoto
than i was fed up lef my trades open and went on the cycle. When i came home i end up from first -1000 USD in + 1 600 USD. I just wanna emphasize from this experience, the main reason to make a such loss was adding 5 rescue attacks in position beacuse i wanted to save first small loss of 200 USD i actually made a larger one than.
Can you post your chart of how you conducted that trade? That would help us to help you evaluate your dancing.

Quoting ianf0ster
I managed to get ito a situation where I was simultaneously Long G/U, short G/J and Long E/U.
I think you are overexposing and babysitting too many babies at one time. I truly wouldn't recommend it.

Quoting ianf0ster
I moved up my catastrophic SL on G/U and was promptly stopped out - I wish I ahd moved it further , then I would have still been in profit when stopped out instead on a 37pip loss.
Have you read this entire thread? I do not feel you have. If you do not, you are playing with fire in trying to trade fti's method from what I gather from your post.

Quoting ianf0ster
Then seeing some evidence of ranges in both G/J and E/J, I decided to attempt rescues. But which one to do first?
This is WHY you DO NOT babysit more than one baby at a time!! http://leighswishingwell.com/lp/emotes/whip.gif

Quoting ianf0ster
I found the whole experience very scary, I don't know how anyone can go to more than 3 levels of rescue attempt.
If one learns to dance well, one normally doesn't. You may want to practice more first with feeling the dance.

Sorry, ian, but for your own good, my opinion would be the same as luSan's ... you need to read this thread again from the beginning and review all the lessons carefully. Then trade ONE currency pair at a time and scale down your troop resources (not use whole lots, but instead fractional lots and build slow and steady).

Oh my, I can see that I'm going to have to keep a good supply of Aloe and Vitamin E on hand!!
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