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Simplicity is the Key

  • #2,441
  • Apr 10, 2008 10:46am Apr 10, 2008 10:46am
Hi CJ,

Nice profit. Can you explain how you determine the trend for each pair? The key to success is the get the trend right at first place. Appreciate your input.
  • #2,442
  • Apr 10, 2008 10:49am Apr 10, 2008 10:49am
I think this is the start of the continuation of the tredn for the JPY pairs. They are now resuming the LONG trend. CJ -- i know you are shorting the JPYs if you are in profit its a good thing to close and reverse now. This trend im talking is the natural trend on a long term. Well I thought this should start earlier (London open) but i was wrong it is late for 9 hours. But still ok. All Currencies hould go long now except the GU,EU
  • #2,443
  • Apr 10, 2008 9:30pm Apr 10, 2008 9:30pm
followed Trader101 advice and took the JPY pairs long.
so far it's working perfect.
see attached image.

i must confess , i did have them the other way, a moment ago.
so, i took a small loss, reversed the position and at the moment, the loss is more than covered.

for those of you looking for the magic, i must say this :

- this money management style works ( it has nothing to do with EMA crossovers, or dots or indicators )

- follow the trend and you'll ALWAYS be fine ( look at weeklies, and dailies, and WAIT FOR A RETRACEMENT ) ....then enter in the direction of the trend. ( look at trader101 : he figured out the JPY pairs more than 24 hours before the move took place )

-you dont need a SPECIFIC method that will give you entries, exits and stop-losses, trust me : just go with it : combine trader101's money management style with ANY of the many GOOD strategies available for free here at ForexFactory.

if still that's not enough, let me know. we'll setup a webinar for you. hehehe.

enjoy,
CJ.-
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  • #2,444
  • Apr 10, 2008 9:55pm Apr 10, 2008 9:55pm
[quote=ZeeJay;1946623]followed Trader101 advice and took the JPY pairs long.
so far it's working perfect.
see attached image.

i must confess , i did have them the other way, a moment ago.
so, i took a small loss, reversed the position and at the moment, the loss is more than covered.

for those of you looking for the magic, i must say this :

- this money management style works ( it has nothing to do with EMA crossovers, or dots or indicators )

- follow the trend and you'll ALWAYS be fine ( look at weeklies, and dailies, and WAIT FOR A RETRACEMENT ) ....then enter in the direction of the trend. ( look at trader101 : he figured out the JPY pairs more than 24 hours before the move took place )

-you dont need a SPECIFIC method that will give you entries, exits and stop-losses, trust me : just go with it : combine trader101's money management style with ANY of the many GOOD strategies available for free here at ForexFactory.

if still that's not enough, let me know. we'll setup a webinar for you. hehehe.

enjoy,


cj y r u long gu id trend not down
  • #2,445
  • Apr 10, 2008 10:06pm Apr 10, 2008 10:06pm
Quoting goodness

cj y r u long gu id trend not down
you're correct , trend pointing down.
yes, i am long.

right now, the position is at a small profit, i'll keep a close eye on it, because i agree with you, it's totally the wrong way.

but keep this in mind in trader101 money management :
so far , in all my postings i've had big losses ( in terms of pips ), is just that my winners cover these bad trades. so, it's not important to get them all correct....just 51% of your open trades need to right

CJ.-
  • #2,446
  • Apr 10, 2008 10:22pm Apr 10, 2008 10:22pm
Quoting ZeeJay
you're correct , trend pointing down.
yes, i am long.

right now, the position is at a small profit, i'll keep a close eye on it, because i agree with you, it's totally the wrong way.

but keep this in mind in trader101 money management :
so far , in all my postings i've had big losses ( in terms of pips ), is just that my winners cover these bad trades. so, it's not important to get them all correct....just 51% of your open trades need to right

CJ.-
ok, but wats d reason behind ur long i c u short usdchf too wat time frame do u use?
  • #2,447
  • Apr 10, 2008 10:48pm Apr 10, 2008 10:48pm
Quoting goodness
ok, but wats d reason behind ur long i c u short usdchf too wat time frame do u use?
it's called : price action, my friend.

recently gbpusd made a nice run up.
(4h time frame)

then it dropped like a stone for 8 hours ( 2 bars) and now it's grinding it's way back to its previous trend.

of course, i could be wrong, but once you see this same thing a million times, all you'd need is price action....no indicators, nothing.

about swiss short.....the daily chart is short....and i usually take it 'blind' short if i am long euro.
  • #2,448
  • Apr 10, 2008 10:56pm Apr 10, 2008 10:56pm
Quoting ZeeJay
it's called : price action, my friend.

recently gbpusd made a nice run up.
(4h time frame)

then it dropped like a stone for 8 hours ( 2 bars) and now it's grinding it's way back to its previous trend.

of course, i could be wrong, but once you see this same thing a million times, all you'd need is price action....no indicators, nothing.

about swiss short.....the daily chart is short....and i usually take it 'blind' short if i am long euro.
Price action, need to read up on that....really dont know and am also tryin to do without indicators. Also have u noticed gj falls as eu goes up
  • #2,449
  • Apr 11, 2008 7:25am Apr 11, 2008 7:25am
Hello folks..
I am so excited to tell you about this. The reason why i was not so much in the forum for the past few days is that I am developing an EA program based on 3 indicators. the BB, psar and QQe. while i was making a diff program for somebody else, i have notice something that look very very consistent inthose 3 indicators. So I stop what i am working for someone else and started developing the one i notices. The result is awesome. I am now in the backtesting stage and based on the 2007 data GJ is 400% winner and EJ is 200% winner. I will complete this perhaps by next week and try it on demo. Below are the 2 equity graphs for GJ and EJ:
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  • #2,450
  • Apr 11, 2008 7:37am Apr 11, 2008 7:37am
Thanks for sharing Trader. This looks very promising. Can't wait to see your final test results.

Quoting trader101
Hello folks..
I am so excited to tell you about this. The reason why i was not so much in the forum for the past few days is that I am developing an EA program based on 3 indicators. the BB, psar and QQe. while i was making a diff program for somebody else, i have notice something that look very very consistent inthose 3 indicators. So I stop what i am working for someone else and started developing the one i notices. The result is awesome. I am now in the backtesting stage and based on the 2007 data GJ is 400% winner and EJ is 200% winner. I will complete this perhaps by next week and try it on demo. Below are the 2 equity graphs for GJ and EJ:
  • #2,451
  • Apr 11, 2008 8:40am Apr 11, 2008 8:40am
Some more results UJ = 180%, AJ = 227%, GU = 155% .but others may find trading these pairs boring becuase it is a 4 hr TF
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  • #2,452
  • Apr 11, 2008 9:19am Apr 11, 2008 9:19am
Quoting trader101
Hello folks..
I am so excited to tell you about this. The reason why i was not so much in the forum for the past few days is that I am developing an EA program based on 3 indicators. the BB, psar and QQe. while i was making a diff program for somebody else, i have notice something that look very very consistent inthose 3 indicators. So I stop what i am working for someone else and started developing the one i notices. The result is awesome. I am now in the backtesting stage and based on the 2007 data GJ is 400% winner and EJ is 200% winner. I will complete this perhaps by next week and try it on demo. Below are the 2 equity graphs for GJ and EJ:
Trader101 that looks awesome! Looking forward to seeing your final results and as always thank you for sharing!
  • #2,453
  • Apr 11, 2008 9:38am Apr 11, 2008 9:38am
Quoting pipruler
Trader101 that looks awesome! Looking forward to seeing your final results and as always thank you for sharing!
NP.. when this is done we will demo this together to get the feedback as quickly as possible.
  • #2,454
  • Apr 11, 2008 9:40am Apr 11, 2008 9:40am
Awesome Trader 101, can't wait till next week. Thank you for sharing - JimiS
  • #2,455
  • Apr 11, 2008 9:55am Apr 11, 2008 9:55am
Looking forward to seeing that new EA you have been working on.

Earlier this week you posted an EA and asked us to test it out for you. I installed it yesterday, so I don't have a lot of results to report yet, except that it seems to close orders really early. Is this the one you are talking about or is this a new one?
  • #2,456
  • Apr 11, 2008 11:13am Apr 11, 2008 11:13am
Quoting hansel
Looking forward to seeing that new EA you have been working on.

Earlier this week you posted an EA and asked us to test it out for you. I installed it yesterday, so I don't have a lot of results to report yet, except that it seems to close orders really early. Is this the one you are talking about or is this a new one?
No. This is different. this is entirely a new one.
Update on that one that i have given last Tuesday .. my demo test of that as of this writing has gained $402.38 in 0.1 lot trading and still have 5 trades going.
  • #2,457
  • Apr 11, 2008 11:31am Apr 11, 2008 11:31am
Quoting trader101
No. This is different. this is entirely a new one.
Update on that one that i have given last Tuesday .. my demo test of that as of this writing has gained $402.38 in 0.1 lot trading and still have 5 trades going.
T101 - what time frame are you using? Thanks.
  • #2,458
  • Apr 11, 2008 12:15pm Apr 11, 2008 12:15pm
Quoting pipruler
T101 - what time frame are you using? Thanks.
1hour
  • #2,459
  • Apr 11, 2008 12:54pm Apr 11, 2008 12:54pm
I don't know if this has just been a weird trading week, but it hasn't gone well for me personally at all. Things were going great until Tuesday night, but then on Wednesday morning things started going against us. Then yesterday it looked like we were OK again, but then all the Yen crosses dropped.

By the way, just for curiosity's sake, I just went back to Trader's revised weekly signals from Monday morning EST and calculated the amount of pips since then.

If someone hadn't closed the trades on Wednesday, but just traded from the time of the original corrected signals until now, they would have a loss of about 750 pips, mainly from the Yen crosses. Remember that we were up over 500 at one point on Tuesday.

That's a good reason to use good money management.
  • #2,460
  • Apr 11, 2008 2:35pm Apr 11, 2008 2:35pm
Quoting hansel
I don't know if this has just been a weird trading week, but it hasn't gone well for me personally at all. Things were going great until Tuesday night, but then on Wednesday morning things started going against us. Then yesterday it looked like we were OK again, but then all the Yen crosses dropped.

By the way, just for curiosity's sake, I just went back to Trader's revised weekly signals from Monday morning EST and calculated the amount of pips since then.

If someone hadn't closed the trades on Wednesday, but just traded from the time of the original corrected signals until now, they would have a loss of about 750 pips, mainly from the Yen crosses. Remember that we were up over 500 at one point on Tuesday. Always remember the cut off point is around 300.

That's a good reason to use good money management.
Sorry Hnasel, you were not paying attention..
Remembe we were up around 800 pips before Tuesday then it start dropping .. at the sign of dropping more thatn 300 we close the trades. The we reopen and the same thing happend .. we close with a small profit.. o remember even CJ just was able to get a few. Then we are not trading until there was a reversal of the JPY crosses suppose to be Thu (LondonOpen) but did not happend until 9:00 am. I traded long on those JPY crosses, then there was this reversal again. i personally was up 0ver 400 then close the trade before it become negative just took around 200 only. The I made another trade again this morning and now i am 335 pips up and about to close it by 3:50 today.
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