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  • #2,241
  • Apr 7, 2008 1:37pm Apr 7, 2008 1:37pm
Quoting Jairo
For the sake of full transparency, I must paste here the PM I sent fti a few weeks ago.
Hi Jairo ...

Not to worry. I don't think he was so much insulted, but just wondering what prompted you to ask that. If he was insulted, then he probably wouldn't have responded so cordially to your posts. Here's the post where he mentions the PM --> Post #1945

Here's two other posts he responded to you thereafter --> Post #1958 and Post #1992

He sometimes has a bit of a temper, lol, if he feels challenged or insulted, and as you can see, his words to you in all instances were very caring and gentle. So please take my word for it and don't let it bother you too much. Do like the Monk story and don't hang on to this ... "let it go"

I don't know what prompted you to feel you needed to disclose that PM to us, but if it is because you might feel that is what is keeping fti away, then please let that burden/guilt go too, because you are not the reason

P.S. I haven't heard back from him after sending my email, so I'm not sure what's up. He would normally respond back pretty promptly. I truly hope it is not his health, but we can only wait to see if he ever returns or emails me back. I am getting pretty worried at this point

-----------

Hi David ...

Thanks for sharing. Sorry to hear about all your losses, especially your father and girlfriend. Money you can always make back, relationships not always. Since I know that you are married now, I'm sure your current wife is a gem, as that is what you deserve. You too, must let go of the guilt you feel toward your father. That is a burden he would not want you to bear. He is always with you, so make him proud with your Forex trading. I know you can do it, David. Just go slow and steady.

Regarding your question ...

Quoting David
One question, what is the reason using fib skew/ratio for add-ons? Say, 2, 3, 5, 8?

For up to #5 layers, is that because the unfavorate price movement may develop in 5 waves? And using fib skew, because assuming bounce-back could be 30~50% of each wave?
When one first starts trading the fti way, probably best to use the fib progression, adding them one-by-one, up to 5 or 6 levels, however when one gets better and more experienced, then can do the batching like fti showed later (ex: 1, 1, 2, 16 or 2, 2, 3, 13, etc.).

If you notice, fti has no one set progression/sequence he uses, because he enters them as he feels each dance. So, he may use a 1, 1, 2, 16 progression/sequence for one dance, a 2, 2, 8, 8 for another, and a 1, 3, 3, 5, 8 for yet another, etc. etc.. He seems to use any combination thereof whenever the mood of the dance hits, lol.

For beginners, however, we might want to use a gradual progression/sequence of 5 or 6 levels, so that at any earlier level, if the PA goes against us, we can rescue without problems. If we do, let's say, a 2, 2, 3, 13 progression/sequence and the PA turns around suddenly right after our last attack sequence has been entered, then we're trying to rescue 20 troops which may be over-exposing our resources very early in the dance.

fti knows his stuff enough to where he can feel when the timing is right to enter his last batch, as well as he has the resources/capital to rescue 20 or more troops if he has to. Most of us aren't there yet.

We also can't enter the attack sequences too far apart, though, because you don't want to keep having the reaveraging not be to our benefit. Also, you'll end up staying in the dance longer if you wait too long between.

Remember, I am referring to "attacks" not "rescues," because with rescues you may not want to enter them too early, in case the PA continues to move against you.

In my spreadsheet, I only calculated the profits on 5 levels, for those who are not comfy with putting all 6 levels in. I tried to make it as conservative, as possible, yet not so conservative as to not make profits lucritive.

My spreadsheet is not a right way or wrong way type thing, it's just something that can be used as a guide for those who might like one. I devised the spreadsheet to fit my needs in keeping me on track with my goals, so I figured I'd share it if it can be useful to anybody else.

-----------

Quoting doremi
Do you mind posting an example of your rescue mission? I'm still weak with my rescue mission....hope your example will give me more oomph
Hi doremi ...

Not at all. But, let me conduct a rescue and then post that actual trade. It will be better than doing a hypothetical one, because that is normally influenced by having the data hindsight. Please note though, that each rescue might be different, depending on how the PA is moving, as well as other factors (like the remapping of the trend direction during the dance, etc.), so there's no blueprint on them. You really have to just keep doing them and you eventually will get the hang of it to where it gets more comfy and efficient.

I'll be back to post that when I get a chance.
  • #2,242
  • Apr 7, 2008 3:08pm Apr 7, 2008 3:08pm
Good to see this thread alive and well. So where is fti? I was expecting a post or two whilst on holiday. Did I miss something?

Well, here is my result. I wasn't sure about a few answers but I did it once only. I found the Trading Challenges part very interesting. That scorpion is history!

You are a Planning Trader!

You tend to be decisive and to the point. You'll quickly assume leadership when it is called for by the circumstances around you. You have the ability to quickly develop and implement trading systems to meet your needs. You have the three core qualities that are essential to being a great trader (i.e. you have the ability to see the big picture, new possibilities and connections between things. You make decisions based on logic and analysis and you are decisive, orderly and do things sequentially). You can easily spot logical inefficiencies in the market and take advantage of them, especially if you are pointed in the right direction. You enjoy long-term planning and goal setting and seem to enjoy learning, expanding your knowledge and staying well-informed...

One of your Trading Strengths
Originality and drive; willingness to follow your ideas through to completion.

One of your Trading Challenges
Probably so logical that you don't recognize when emotions are causing you to self-destruct.
  • #2,243
  • Apr 7, 2008 8:04pm Apr 7, 2008 8:04pm
Hi,

Hmm im worried too now. Leighsww, i live in SG. If you want, you could give me some details abt fti, since he was a CEO, he should be quite well known here in sg. I could, well sneak up on him lol! Kidding.

Anyway, for all you chartists trading on efxgroup. I have just found out that ninja trader supports efx data-feed now. If you decide to buy the full version you can literally trade through the charts. But navigator with the free ninjatrader analytics should be fine.

http://www.ninjatrader-support.com/v...1&postcount=58
  • #2,244
  • Apr 7, 2008 9:56pm Apr 7, 2008 9:56pm
Quote
Originally posted by Leighsww:

Hi doremi ...

Not at all. But, let me conduct a rescue and then post that actual trade. It will be better than doing a hypothetical one, because that is normally influenced by having the data hindsight. Please note though, that each rescue might be different, depending on how the PA is moving, as well as other factors (like the remapping of the trend direction during the dance, etc.), so there's no blueprint on them. You really have to just keep doing them and you eventually will get the hang of it to where it gets more comfy and efficient.

I'll be back to post that when I get a chance.

Based on the above, you must be dancing very profitably......no rescue mission lately....... Plse get me posted should you have an example....
  • #2,245
  • Apr 8, 2008 12:28am Apr 8, 2008 12:28am
Quoting leighsww
Hi Jairo ...

-----------

Hi David ...

Thanks for sharing. Sorry to hear about all your losses,
Regarding your question ...


When one first starts trading the fti way, probably best to use the fib progression, adding them one-by-one, up to 5 or 6 levels,

If you notice, fti has no one set progression/sequence he uses, He seems to use any combination thereof whenever the mood of the dance hits, lol.

For beginners, however, we might want to use a gradual progression/sequence of 5 or 6 levels, then we're trying to rescue 20 troops which may be over-exposing our resources very early in the dance.

fti knows his stuff enough to where he can feel when the timing is right to enter his last batch, as well as he has the resources/capital to rescue 20 or more troops if he has to. Most of us aren't there yet.

We also can't enter the attack sequences too far apart,

Remember, I am referring to "attacks" not "rescues," because with rescues you may not want to enter them too early, in case the PA continues to move against you.

-----------
Thank you for finding out the post fti responded to the proposal. He was not angry. Some key words, "burned out", "simple living", "trade sparingly when I feel like it" may be clues how he felt.

Thank you for your kind words to me.

Acutually I found the rescue concept rather than placing a s/l order is very great, solving a lot of stop loss issues. Based on my previous forex trading experiences, IMHO, that stop loss is the main problem.

FTI has given us the most part of the training. The rest is to refine money management and dancing skills. Dancing skills are hard to teach, since it requires experiences. MM depends on one's risk preference.

Yesterday, my E/U short rescue was not successful. And I think some issues besides the fib progression need to clarify and refine, so all of us can discuss and sharpen our weapon.

!. How far away shall we start rescue? 20~40, 40~60, or 80~100pip?

2. I started attack-- shorting E/U yesterday London session beginning. However, I was fooled by the market price movement and my experiences, the attack troops are stuck. Luckily I closed G/U positions and some E/U positions. Not enough troops sent to rescue, so the loss reduced but not covered. Maybe I will post my operations on saturday so we can discuss.

So, attack issue: if the price is very good, more likely, you traded wrong direction. the price is not good, you may face a huge retracement. Maybe there is no solution to this.

3. Suppose if we failed in level 6 rescue or even up to 4 level, we end up troops or the risk is too high, since a little bit dancing wrong step may cause disaster(or a risk threshold say -30%). So, in this situation, what to do. Or, better, we never allow the 4th level recue to happen?

In December I was practising using a demo account. I remembered I increased the account by 200% in two weeks(MM is not very agressive since I didn't expose positions very long when over-leveraged). In fact I was trading against E/U up trend, but rescue troops always made more than scout loss. But one day, suddenly rescue troops got stuck, position size out of control. Then you know the concequence.

And do you face problems when rescue?
  • #2,246
  • Apr 8, 2008 1:41am Apr 8, 2008 1:41am
Hi David,

I see that the main crux you face is not abt the actual rescues but your expectations of the rescues. We need to note that there are times where we are caught and totally wrong about our impression of the price action and the only way out, is to reduce drawdown. I remembered voicing my worries once about how a few of us are happier doing rescues rather than being in an active attack.

I have faced your sorta situation plenty of times and i can totally relate to your nuances. Try scaling ur timeframe out when you are doing the rescues. And again sizing for the rescue has to be determined by its distance from the troops required for rescuing.

So if you are down 100points with 4 troops, adding 4 troops will only reduce it by 50% i.e. 50pips but adding 8troops will require you 34pips to breakeven. So this increases ur chances of reducing a heavy drawdown.
  • #2,247
  • Apr 8, 2008 2:30am Apr 8, 2008 2:30am
Quoting jest1081
Hi David,

I see that the main crux you face is not abt the actual rescues but your expectations of the rescues. We need to note that there are times where we are caught and totally wrong about our impression of the price action and the only way out, is to reduce drawdown. I remembered voicing my worries once about how a few of us are happier doing rescues rather than being in an active attack.

I have faced your sorta situation plenty of times and i can totally relate to your nuances. Try scaling ur timeframe out when you are doing the rescues. And again sizing for the rescue has to be determined by its distance from the troops required for rescuing.

So if you are down 100points with 4 troops, adding 4 troops will only reduce it by 50% i.e. 50pips but adding 8troops will require you 34pips to breakeven. So this increases ur chances of reducing a heavy drawdown.
Agree, actually I was stuck, not because of rescue but attack yesterday, when E/U broke out 1.4650, I added more positions to attack, and this break-out turned out just to be stop loss sweep. By now, I was stuck by 100 pips by 5 troops. I reduced the loss by 50% with rescue operation, but the problem is no enough troops left.

This morning I made more rescue operation shorted E/U @1.4790, closed out @1.4753, shorted G/U @1.9916(but with only 1 troop) @ 8995 touched limit order, I add one more with +42 pip. (sure, if held it I would make much more).

And E/U still looks very bullish, so still stuck in.

Today, E/U volitility is not as good as G/U, so another problem, volitily, that is also a key to rescue.
  • #2,248
  • Apr 8, 2008 3:17am Apr 8, 2008 3:17am
Quoting Green_David
Agree, actually I was stuck, not because of rescue but attack yesterday, when E/U broke out 1.4650, I added more positions to attack, and this break-out turned out just to be stop loss sweep. By now, I was stuck by 100 pips by 5 troops. I reduced the loss by 50% with rescue operation, but the problem is no enough troops left.

This morning I made more rescue operation shorted E/U @1.4790, closed out @1.4753, shorted G/U @1.9916(but with only 1 troop) @ 8995 touched limit order, I add one more with +42 pip. (sure, if held it I would make much more).

And E/U still looks very bullish, so still stuck in.

Today, E/U volitility is not as good as G/U, so another problem, volitily, that is also a key to rescue.
Have you ever tried the 'raids'. This i use to re-avrg my position. Say for example if I am deep... it forces me use the bigger troops.

Lets use my example of 4troops facing 100pip drawdown. So i banged 8 troops....i dont neccesarily have to get to BE or profit, i target say 15-20pips and get out, by now instead of 100pips down i have managed reavg my losses to approx 30pips instead. From here on, you can choose whether to call it a day or fight on again with another raid, if the chance appears or you could reverse (but beware of the pig theory)

Sure, if you are caught on the wrong trend, price will continue to move up and you may be caught in a protracted battle against the waves, so in your rescues, it is important that you make every chance count.
  • #2,249
  • Apr 8, 2008 6:12am Apr 8, 2008 6:12am
  •  Jairo
  • Joined Sep 2007 | Status: Amateur EA programmer | 485 Posts | Online Now
Quoting leighsww
Hi Jairo ...

Not to worry. I don't think he was so much insulted, but just wondering what prompted you to ask that. If he was insulted, then he probably wouldn't have responded so cordially to your posts. Here's the post where he mentions the PM --> Post #1945

Here's two other posts he responded to you thereafter --> Post #1958 and Post #1992

He sometimes has a bit of a temper, lol, if he feels challenged or insulted, and as you can see, his words to you in all instances were very caring and gentle. So please take my word for it and don't let it bother you too much. Do like the Monk story and don't hang on to this ... "let it go"

I don't know what prompted you to feel you needed to disclose that PM to us, but if it is because you might feel that is what is keeping fti away, then please let that burden/guilt go too, because you are not the reason

P.S. I haven't heard back from him after sending my email, so I'm not sure what's up. He would normally respond back pretty promptly. I truly hope it is not his health, but we can only wait to see if he ever returns or emails me back. I am getting pretty worried at this point

-----------

Hi David ...

(...)
Hi Leighsww,

I thank you very much for your kind words, but I can imagine (now, too late!) that he probably thought something like "OMG, after all this effort there comes this stupid guy talking BS about managed accounts. He must have learned nothing. Was all this worth the trouble?" I am very sorry for this, I think I must shut up. I never brought anything useful for this thread anyway. But be sure of one thing: that was the only PM I sent him and the text is exactly what I pasted here. Good trading to all.
  • #2,250
  • Apr 8, 2008 8:18am Apr 8, 2008 8:18am
Quoting jest1081
Have you ever tried the 'raids'. This i use to re-avrg my position. ...

your rescues, it is important that you make every chance count.
Hi, Jest

My E/U rescue 4 troops closed on average 5730 with around +20 pips for each. E/U ranged btw 5775~5750 too long, when true price move comes, I lost patience or patience exausted and I closed to release before it touched 5725. That is the problem when doing too short time trading. Nimble as fti said.

However, if I held the 1 troop G/U short position opened @9916 this morning, the result will be much better (now it is 9690).

Rescue is finished, my e/u short positions still stuck with -40pips, but equity increased a little bit, and balance increased quite a lot.

Bad dancer I am. In fact, i have some questions regarding rescue and attack(I didn't make difference). Wonder when fti can come to answer me.

Or, the answer is "there is no perfect trading"?

So, maybe, there is no way to calculate the pips expection and added-on size in a specific way, since we don't know how the price will move in the future. Maybe trading is kinda art.

But after these two days recue and attack, I am very glad my equity increased 7% compared to last weekend book. Even though my e/u positions still have -40pips book loss. After pending home sales data released I will babysit to see if worth to hold them till the target 1.55? Don't know but if 5690 maintains untill NY session finished, E/U daily chart will be very bearish.

What a marvelars rescue and attack concept!!

And, one point, to rescue or attack, better let the price out of some distance, say 20~50 pips, otherwise your add-ons' prices are too close to scout, that in fact is increase of initial position(scout).

Wish fti or anyone can confirm this.

Another question, in some cases just like today's G/U situation, buy-and-hold maybe is better than actively management. Remember in AOW, it says "Defeat your enemy without fight is the best of the best"

(不戰而屈人之兵，善之善者也）。

David

(I write too much, but I think FTI encouraged us to discuss, and by making great progress, I think fti will be very happy.)
  • #2,251
  • Apr 8, 2008 10:01am Apr 8, 2008 10:01am
Quoting Green_David
Hi, Jest

Maybe trading is kinda art.

>Ya. This is what Fti has been trying to stress to us all along. Learn to dance.


And, one point, to rescue or attack, better let the price out of some distance, say 20~50 pips, otherwise your add-ons' prices are too close to scout, that in fact is increase of initial position(scout).

>This will depend on how you dance. If you look at Lusan's thread, he attacks and rescue on a single candle bar. From what I understand, his dance is closest to how Fti trades.


Another question, in some cases just like today's G/U situation, buy-and-hold maybe is better than actively management. Remember in AOW, it says "Defeat your enemy without fight is the best of the best"

> Problem is you never know when to hold or exit. To reiterate Fti's: Be nimble. Even if you have exit early, you can always jump back in as in today's G/U example.
Just my 2 cents worth........
  • #2,252
  • Apr 8, 2008 10:31am Apr 8, 2008 10:31am
It's taken me a hell of a long time to get thru this thread, but here I am finally at the action end with my bible the AOW next to me.

The entire thread has been an eye opener and I'd like to thank all those who have contributed to making it what it is, of course especially fti and leighsww.

I am learning the dance, however, the biggest problem I am having is the times when I just don't listen to the tune. The stories that apply to me the most are those of self destruction when I am a roll and holding on to hope when I know the tide has turned.

However, I believe the market is the best teacher, I just hope I can learn from it rather than keep making the same mistakes. Slowly I am becoming more nimble and more decisive, but my trading still has a long way to come.
  • #2,253
  • Apr 8, 2008 12:08pm Apr 8, 2008 12:08pm
ZZZZZZZZzzzzzzzzzz

Euro loves to play around here....
Attached Image (click to enlarge)
Click to Enlarge Name: $EURUSD 4_9_2008 (5 Min).jpg Size: 41 KB
  • #2,254
  • Edited 12:36pm Apr 8, 2008 12:22pm | Edited 12:36pm
Quoting sitoca
Just my 2 cents worth........
Quote
And, one point, to rescue or attack, better let the price out of some distance, say 20~50 pips, otherwise your add-ons' prices are too close to scout, that in fact is increase of initial position(scout).

>This will depend on how you dance. If you look at Lusan's thread, he attacks and rescue on a single candle bar. From what I understand, his dance is closest to how Fti trades.


You are right. My dancing normally start with middle of Asia session and into NY middle session. The range shall be 50~200 pips, that's why I said that. Lusan trade only 1 hour so the range shall be much less if no news. So with a 100 possible range if i add positions too close to scout it essentially increased the size of scout. Do wish fti can confirm this.

Quote
Another question, in some cases just like today's G/U situation, buy-and-hold maybe is better than actively management. Remember in AOW, it says "Defeat your enemy without fight is the best of the best"

> Problem is you never know when to hold or exit. To reiterate Fti's: Be nimble. Even if you have exit early, you can always jump back in as in today's G/U example.
Yes. I need to balance, since I can't buy at the lowest price and sell the highest price for each wave,if I exited too early, most cases when I jump in again even I have the guts, the price would be worse and difficult to hold. Just I did today with G/U, I shorted @ 9916, what a nice price, but I got out @8995, second time I got @8930, 8890 out, totally 60 pips, now you see, I got less than 1/3 of today's 200 pips drop.

That is why I said TA is not that important, even I got a correct analysis, but I didn't make much, since I felt I have too many positions, really wiliing to seek opportunity to reduce. So I left too earlly breaking the rule "cut loss run the profit".

David
  • #2,255
  • Apr 8, 2008 12:28pm Apr 8, 2008 12:28pm
Quoting FXJapan
It's taken me a hell of a long time to get thru this thread, but here I am finally at the action end with my bible the AOW next to me.

The entire thread has been an eye opener and I'd like to thank all those who have contributed to making it what it is, of course especially fti and leighsww.

I am learning the dance, however, the biggest problem I am having is the times when I just don't listen to the tune. The stories that apply to me the most are those of self destruction when I am a roll and holding on to hope when I know the tide has turned.

However, I believe the market is the best teacher, I just hope I can learn from it rather than keep making the same mistakes. Slowly I am becoming more nimble and more decisive, but my trading still has a long way to come.
Welcome to join this thread. Since you are from Japan, we have more asians here, and AOW is no problem for you.

Well, "don't listen to the tune", IMHO, that may be due to your ego goes into your trade and try to rationalize the chart as fti said.

Do wish you make good trades.
  • #2,256
  • Apr 8, 2008 12:33pm Apr 8, 2008 12:33pm
Quoting jest1081
ZZZZZZZZzzzzzzzzzz

Euro loves to play around here....
Maybe the market is waiting for FOMC minutes. I was surprised E/U didn't react much to the pending home sales data release. What a bad data. Quite interesting.

If you see the daily chart, would you get bearish or bullish? Of course, still 4 hours to last to finish today's daily chart.

Today's star is GBP.
  • #2,257
  • Apr 8, 2008 2:35pm Apr 8, 2008 2:35pm
Quoting leighsww

Just remember that his use of overnights, as I understand it, means that Scout has to be well out of reach (Basis far away from the market) so as not to get into trouble (rescue situation). That's why one would be able to not have to babysit it.

Again, that's my understanding/interpretation of what he describes as "overnights," but as you know, he speaks in metaphors and often one has to decipher his meanings, so who the heck knows if I am correct, lol :
Does anyone here have a good understanding of fti's overnight positions? I would like to hear other opinions.
  • #2,258
  • Edited 3:56pm Apr 8, 2008 2:42pm | Edited 3:56pm
Quoting David
How far away shall we start rescue? 20~40, 40~60, or 80~100pip?
With how I dance, I have no set pip amount. I add the first rescue when I see some indication that the PA is turning back in my direction.

Quoting David
Luckily I closed G/U positions and some E/U positions. Not enough troops sent to rescue, so the loss reduced but not covered.
It seems you are babysitting TWO babies at the same time. I wouldn't recommend it. You might have had enough troops to rescue the one baby efficiently, but because you had two babies you were attending to, the troops weren't enough to be distributed amongst both.

Quoting David
Suppose if we failed in level 6 rescue or even up to 4 level, we end up troops or the risk is too high, since a little bit dancing wrong step may cause disaster(or a risk threshold say -30%). So, in this situation, what to do. Or, better, we never allow the 4th level recue to happen?
If you had entered a level 6 attack, then it might be better to rescue with less troops (the 1x or 1.5x rescue) so that you have enough troops to make multiple rescues should the PA continue in the opposite direction.

I have done this on a past rescue mission and it worked good for me for that particular dance. I was able to get the rescue accomplished after the 2nd rescue attempt (with enough to spare in conducting 2 more rescues if needed) and turn a profit. HOWEVER, my position was in the direction of the higher (2hr & 4hr) timeframe trends, so I was somewhat confident that the PA would resume going in my direction, thus didn't use a larger sized first attempt rescue.

If you've entered against the trend, then proceed at your own risk.

Quoting David
actually I was stuck, not because of rescue but attack yesterday, when E/U broke out 1.4650, I added more positions to attack, and this break-out turned out just to be stop loss sweep. By now, I was stuck by 100 pips by 5 troops. I reduced the loss by 50% with rescue operation, but the problem is no enough troops left.
You need to scale down your troop allocation. It seems you are using more resources than your book can allow for proper MM.

You might need to reread this thread, David. There are several things in which you are not following the MM. Also, you had questions regarding the progression sequence that fti used, so it seems that you might have missed some of the posts where he explains them.

Quoting David
volitily, that is also a key to rescue.
I remember fti mentioning that volatility influences how he dances (how much more aggressive he becomes), so that is definitely an important factor with how one conducts attacks/rescues during those times.

Quoting David
So, maybe, there is no way to calculate the pips expection and added-on size in a specific way, since we don't know how the price will move in the future. Maybe trading is kinda art.
I calculate how many pips away from B/E I want to be in order to conduct my rescues, but I don't calculate when to conduct the rescues, because the market is random and it never gives us the exact same map/dance every time.

Looking hindsight on past charts, we can say, "Oh, well, it's obvious, we can enter our rescue here and then exit there," but that's because we already can see where the PA had gone. This is why I don't want to give doremi a hypothetical rescue example, because hindsight is influenced by where we already know the PA went.

Quoting David
to rescue or attack, better let the price out of some distance, say 20~50 pips, otherwise your add-ons' prices are too close to scout, that in fact is increase of initial position(scout).
I would say that for RESCUE, it is not good to be too close to Scout, because 1) you run risk of PA continuing to go against you to which you would need to conduct multiple rescues, or 2) if you're so close already, the rescue is not needed if the PA resumes in your direction. However, again it all depends on how the PA is dancing and its volatility, because after re-reading back on some of fti's posts, he sometimes is actually in attack mode, when it looked at first like he would be in rescue.

I don't rescue with having a set calculated distance, I rescue on whether I see the PA making an effort with returning in my direction. If I enter a rescue and the PA continues to move against me, then I invoke another rescue attempt in the same manner.

This is why one has to use proper MM to be able to have enough arsenal to conduct multiple rescues, thus it's important that we 1) DON'T babysit more than ONE baby at a time, and 2) use a proportional lot distribution that fits our account capital (thus, for those without deep pockets, best to use fractional lots rather than full lot sizes).

For me, I am dancing during the Japan session which is slow and low volatility, so my dances last longer. fti mentioned that "volatility" has a lot to do with how you dance, and he will wait for a max. 7 bars/candles before invoking rescues if he has determined that Scout was entered wrong.

Here, read this post of fti's that explains one of his attack strategies --> Post #1423.

Here's the corresponding example chart in which he shows one of his aggressive attack sequence --> Post #1462

Quoting sitoca
If you look at Lusan's thread, he attacks and rescue on a single candle bar. From what I understand, his dance is closest to how Fti trades.
Actually, fti doesn't attack and rescue on a single candle bar. When I had mentioned that luSan danced closest to fti, I meant regarding not having their dance last hours and hours, lol. However, after looking back at some of fti's past dances, there were some that lasted 5 hours or more, so it all depends on when he's dancing (during low or high volatility times) and if he's in attack or rescue mode.

He had mentioned to luSan that he may be dancing too fast, but then luSan explained that he had time constraints and could only dance 1 - 2 hours max, so then fti understood his reasoning for dancing faster than he would recommend him to.

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Everything is right here in this thread. Those who want to dance like fti, study his chart and his posts where he conducted actual trades. They tell a GREAT story and will give you the insights to the working mind of our wonderful Pro Trader friend!
  • #2,259
  • Apr 8, 2008 3:06pm Apr 8, 2008 3:06pm
Quoting Jairo
I am very sorry for this, I think I must shut up. I never brought anything useful for this thread anyway.
Hi Jairo ...

Please do not feel this way. It is not the end of the world and you have not been useless in this thread.

I assure you, I have come to know fti pretty well, and he would not want you to feel this way. If he were to read your posts, he would see that you are truly sorry and he would ask you to just forget about it (but to never do it again, lol

fti is a good man, he would forgive you in a minute, especially after you have shown such honor with your disclosures in owning up.

Anyway, I hope you will reconsider and stay with us and share whenever the mood hits

This is all I am going to say on the matter. If you cannot accept to forgive yourself and instead continue to feel guilty, then that is something you have to deal with yourself. Please read back on the Monk lesson --> Post #316
  • #2,260
  • Apr 8, 2008 4:01pm Apr 8, 2008 4:01pm
  •  Jairo
  • Joined Sep 2007 | Status: Amateur EA programmer | 485 Posts | Online Now
Quoting leighsww
Hi Jairo ...

Please do not feel this way. It is not the end of the world and you have not been useless in this thread.

I assure you, I have come to know fti pretty well, and he would not want you to feel this way. If he were to read your posts, he would see that you are truly sorry and he would ask you to just forget about it (but to never do it again, lol

fti is a good man, he would forgive you in a minute, especially after you have shown such honor with your disclosures in owning up.

Anyway, I hope you will reconsider and stay with us and share whenever the mood hits

This is all I am going to say on the matter. If you cannot accept to forgive yourself and instead continue to feel guilty, then that is something you have to deal with yourself. Please read back on the Monk lesson --> Post #316
Hi leighsww,

You rival fti on who is the greatest contributor to this thread! Your willingness to help people is a real gift to all of us. Thank you very much.

I promise that if I open my mouth (or stretch my fingers) again, I will be ten times more careful. Still think fti felt bad. Anyway I will try to survive and compensate for that. Whip, whip, whip on me.

OMG, my stupid fingers again... I think I will reply one more post... Think, man, think....
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