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  • #3,121
  • Jul 3, 2008 5:53pm Jul 3, 2008 5:53pm
LOL! I am moving to the england for 3 weeks (in ramsgate) and i converted today my euros into pounds. Pounds look really ugly i like more euros. Zoran where are you going? About today, rumors are making the market and ECB cut was already priced, than later better then expected fall in employment moved the dollar up and i also read somewhere FED won't do anything it will just stall, beacuse economoy is showing weaknesess. These are the blodiest days i even don't trade on demo and i just enjoy my holidays and rest others nice trading
  • #3,122
  • Jul 3, 2008 6:22pm Jul 3, 2008 6:22pm
We are moving to Belgrade although I'll still be working in the UK until my contract expires so there will be a bit of commuting.
  • #3,123
  • Jul 4, 2008 12:44am Jul 4, 2008 12:44am
Hello everyone! Just back from a overseas trip and trying to catch up on all the posts.

To the U.S traders, Happy Independence Day!

Hi Jest,
If its a market order and the market is moving fast, at least the system should ask if you would accept the next best price? Did this not happen?

Anyway, I was watching the action last night and I frozed. Couldn't pull the trigger because the drop was too huge and too fast. Just stood there watching the train flew past!
  • #3,124
  • Jul 4, 2008 3:10am Jul 4, 2008 3:10am
Hi, Everybody!
yes yesterday's train was pretty unexpected, except COT reports show possible reversals.
I could not jump in, because I was to go out with wife and daughter .
But I do not regret ;-)
it's o'k to win ...
  • #3,125
  • Edited Jul 5, 2008 3:15am Jul 4, 2008 4:34am | Edited Jul 5, 2008 3:15am
Quoting sitoca
Hello everyone! Just back from a overseas trip and trying to catch up on all the posts.

To the U.S traders, Happy Independence Day!

Hi Jest,
If its a market order and the market is moving fast, at least the system should ask if you would accept the next best price? Did this not happen?

Anyway, I was watching the action last night and I frozed. Couldn't pull the trigger because the drop was too huge and too fast. Just stood there watching the train flew past!
Hi sitoca,
Life on the fast lane, well what can I say.
You see, you conquer, You miss then just wait for next bus.
There's always another fish in the sea.

But for now was good fire works for 4th July. Donno if this will last , just follow the trail of crumbs.
Nice to see you're around.

regards



Quoting zenseven
Hi, Everybody!
yes yesterday's train was pretty unexpected, except COT reports show possible reversals.
I could not jump in, because I was to go out with wife and daughter .
But I do not regret ;-)
Hi zenseven,

No need to regret, another day another battle.

regards

@ALL,

Nice celebrations.
See if you can understand this......important message encyrpted within.

Inserted Video


Happy Birthday America
Inserted Video

Inserted Video

Inserted Video


regards

No message here, just harmonics.
Inserted Video

Inserted Video

Inserted Video
  • #3,126
  • Jul 4, 2008 5:32am Jul 4, 2008 5:32am
Quoting Zoran
We are moving to Belgrade although I'll still be working in the UK until my contract expires so there will be a bit of commuting.
That means that Chris (Wolf.) and me have to go to Belgrade to have those pints with you?
  • #3,127
  • Jul 4, 2008 6:03am Jul 4, 2008 6:03am
Quoting Gnat
That means that Chris (Wolf.) and me have to go to Belgrade to have those pints with you?
Ahh yes, but you'll have to wait until my birthday!
  • #3,128
  • Jul 5, 2008 2:02am Jul 5, 2008 2:02am
Ah Yes the celebration spectaculars again.

http://news.yahoo.com/s/ap/20080705/...us/july_fourth.
and the reminders of the cost of freedom. The loud explosions, the firepower, the lost of lifes. magnific
Inserted Video


regards
  • #3,129
  • Jul 5, 2008 3:40am Jul 5, 2008 3:40am
Quoting fti
Ah Yes the celebration spectaculars again.

http://news.yahoo.com/s/ap/20080705/...us/july_fourth.
and the reminders of the cost of freedom. The loud explosions, the firepower, the lost of lifes. magnific http://www.youtube.com/watch?v=_dmPchuXIXQ

regards
fti thankyou for the link.... absolutely riveting viewing! have watched all 5 videos. A one world government is quite a scary thought.
Now back to reading this thread, only up to page 80 so still have a way to go to catch up.(have only just discovered). Thought I would check out last page to see if still active and had to check out links. Sorry fti could not find the message in music video wish it was in english but the music was beautiful thankyou.(i also love to play josh grobin while i am dancing with the market)
you will be pleased to know that my charts are free of indicators except i am still struggling to let go of fibs. Thankyou everyone I will return when i have caught up and I'm sure I will have questions and hopefully contributions as well.

joy
  • #3,130
  • Jul 5, 2008 10:14am Jul 5, 2008 10:14am
Quoting fti
Ah Yes the celebration spectaculars again.

http://news.yahoo.com/s/ap/20080705/...us/july_fourth.
and the reminders of the cost of freedom. The loud explosions, the firepower, the lost of lifes. magnific http://www.youtube.com/watch?v=_dmPchuXIXQ

regards
hi, FTI:

After several months experiment, I give up rescue operation.

1. It is too hard for me to rescue scout with more positions within 50 pips of pullback. And if rescue positions are trapped also, I am bitten more by the aligator(crockedile).
2. If my scout timing is too early, I just wait untill 100~200(GBP) pips against my scout to see if the price will resume the trend.
3. If it turned out the scout is against the daily trend, just take loss and start over. No point to rescue while trading against daily trend.
4. If the trend resumes, I try new price level and set up entry again.

When I tried to rescue bad positions, I found out that my added positions shall not overstay in the market so I have to take about 20 pips profits. And because of this I had a bad "habit", i.e. when my added positions are suppose to give me a 100-pip daily profit, I closed for 20 pips only.

Any comment, please.

Regards.

David
  • #3,131
  • Edited 5:24pm Jul 5, 2008 1:29pm | Edited 5:24pm
Quoting Green_David
hi, FTI:

After several months experiment, I give up rescue operation.

1. It is too hard for me to rescue scout with more positions within 50 pips of pullback. And if rescue positions are trapped also, I am bitten more by the aligator(crockedile).
2. If my scout timing is too early, I just wait untill 100~200(GBP) pips against my scout to see if the price will resume the trend.
3. If it turned out the scout is against the daily trend, just take loss and start over. No point to rescue while trading against daily trend.
4. If the trend resumes, I try new price level and set up entry again.

When I tried to rescue bad positions, I found out that my added positions shall not overstay in the market so I have to take about 20 pips profits. And because of this I had a bad "habit", i.e. when my added positions are suppose to give me a 100-pip daily profit, I closed for 20 pips only.

Any comment, please.

Regards.

David
It sounds like your at one of those step back and evaluate for a few momments.
Myself, I did the same a couple weeks ago and my head was made clearer.
First what I did was take a day and did not think about trading the trades.
Like fti mentioned go to the beach, store, family, do something else and get your mind off it.
Go back to basics, refreash yourself reading back thru fti's old post.
Are you trading more than 1 pair regroup and just trade 1 pair.
I had been trading the gbp/usd 95% of time for 6 months just to get familier with yearly, quarterly, monthly, weekly highs, lows, closes and there trends. As I try to track and have an idea of the daily trend as we trade watching the 4hr.,1hr. 5 min. chart. I look at it as part of knowing the battlefield.
Although I seem to have a fairly good handle on it I guess I grew impatient and frustrated with the action I took with some of my trades.
So after the day off I looked over at the e/u as the entries seem to fall in place, I have to say its been refreashing few weeks.
I know you like the g/u but maybe if you see trades lining up on another pair give the g/u a temperary break.
To, fti mentions he focused on getting in and out of the market. Start with a goal of a shoter time frame, if the trade goes the way you expect your out in 30 minutes with just a scout left in, your rescues would be closer.
Of coarse most of the time it all hinges on identifying your daily support and resistance as we enter with the trend.
My experience has been that we can be on the right side of the g/u daily trend and have 30-60 pip swings if were out 120-180 were standing on the wrong side and were looking at our all night babysitting job. I can relate, I get aggrevated just thinking about it.
Your not dealing with anything different that anyone else is not dealt with in the past, present or again in the future.
Go enjoy life come back when your refreashed.
Just my 2 pips.
take care
  • #3,132
  • Jul 6, 2008 4:15am Jul 6, 2008 4:15am
Quoting Green_David
hi, FTI:

After several months experiment, I give up rescue operation.

1. It is too hard for me to rescue scout with more positions within 50 pips of pullback. And if rescue positions are trapped also, I am bitten more by the aligator(crockedile).
2. If my scout timing is too early, I just wait untill 100~200(GBP) pips against my scout to see if the price will resume the trend.
3. If it turned out the scout is against the daily trend, just take loss and start over. No point to rescue while trading against daily trend.
4. If the trend resumes, I try new price level and set up entry again.

When I tried to rescue bad positions, I found out that my added positions shall not overstay in the market so I have to take about 20 pips profits. And because of this I had a bad "habit", i.e. when my added positions are suppose to give me a 100-pip daily profit, I closed for 20 pips only.

Any comment, please.

Regards.

David

Dave:
May I give you a little advice

1. Give up GBPUSD.

This advice was read by me in one book by Igrok not so long time ago.
But it works. He has explanation. Why it is better to go other currencies.
I do not want to reproduce.
I need to say it is really good book to learn patterns of Forex. But he is not rigid. He always says that all patterns for forex are not finished.
Trader Igrok is known among russian traders as showing unbelievable results. He has own thread here at forexfactory.com

2. And in reality you do not need 100 pips profits all you need 20-35 pips run
But you need to snowball your positions fast. Square your position after this small move to 1 scout and wait again for next impulse. 2 impulses a day make your day for sure.

All:
Please find attached cut from Robert Balan "Elliote Wave Principle applied to Foreign Exchange Market".
This cut is not about forex itself but about trading, i think it has some resemblance to FTI teachings
Attached File(s)
File Type: pdf Balan.pdf   766 KB | 1,766 downloads
it's o'k to win ...
  • #3,133
  • Jul 6, 2008 7:35am Jul 6, 2008 7:35am
Quoting zenseven
Dave:
May I give you a little advice

2. And in reality you do not need 100 pips profits all you need 20-35 pips run
But you need to snowball your positions fast. Square your position after this small move to 1 scout and wait again for next impulse. 2 impulses a day make your day for sure.
zenseven, thanks for the insight...you described very well what I call "slow dance": get it small and fast...hold it and then some more...then close the dance wen PA say that it has enough.

for the first time someone stated clearly: 20-35 twice a day is enough...Actually, even once a day is enough...we just need to manage that short war with the appropiate size...

Still, it does create a problem...after we meet that goal we have so much free time that we keep trading and our trading become compulsive and self defeating...we lose the developed mindset...

Regards
Empty as water and soft as a facing wind mountain
  • #3,134
  • Jul 6, 2008 10:11am Jul 6, 2008 10:11am
David - hi I am only one month into the experiment, but have very different results from you, I guess we are doing things differently. From what I have seen, zenseven is right, you only need small pips to make large gains following this method. You can even make good profits in sleepy ranging markets, just keep striving for more strategic positions and committing more troops, then even a small 20 pip move and you can make several percent profit on your account.

It doesn't make sense to me to gauge success by pips. Pips have very little meaning, and no inherent value to themselves. I look mostly at percent drawdawn (maximum and average) versus percent profits. This gives you a better overall view of things IMO. Forget about pips.

My biggest trouble is that while I can almost always execute a successful rescue, sometimes it requires committing many more troops than I would like, it can turn very aggressive very quickly. I still follow 1:1:1 position sizing for this reason. Until I refine my technique, moving to 1:2:4 or whatever would get me into trouble sometimes.

I gave up on gbpusd and gbpjpy, too wild for me, I prefer eurjpy and eurusd, and usually keep any eye on usdjpy as well, for triangulation.

As lilpip reminds us, it can be important to take a day off every now and then, especially when things seem to be going badly. Your most important weapon in the markets is mental clarity and equanimity. When you can hold that space, then intuition also becomes an ally, I have seen several times, the intuition comes down: "oh, just close out all positions." So I do. Then a couple minutes later, the market reverses itself. I have also seen the results of not listening to these intuitions. If your mind is cluttered there is no way to tell an intuition from all the other crap floating around your head. That's when you know it's time to turn off the computer and go jump in a mountain stream.

Thanks to all for the great thread
  • #3,135
  • Jul 6, 2008 1:31pm Jul 6, 2008 1:31pm
Quoting Green_David
hi, FTI:

After several months experiment, I give up rescue operation.

1. It is too hard for me to rescue scout with more positions within 50 pips of pullback. And if rescue positions are trapped also, I am bitten more by the aligator(crockedile).
2. If my scout timing is too early, I just wait untill 100~200(GBP) pips against my scout to see if the price will resume the trend.
3. If it turned out the scout is against the daily trend, just take loss and start over. No point to rescue while trading against daily trend.
4. If the trend resumes, I try new price level and set up entry again.

When I tried to rescue bad positions, I found out that my added positions shall not overstay in the market so I have to take about 20 pips profits. And because of this I had a bad "habit", i.e. when my added positions are suppose to give me a 100-pip daily profit, I closed for 20 pips only.

Any comment, please.

Regards.

David
Green David,

Just my take on things but I'm confused to your statement. When the move is in our direction we add to maximize profit, snowballing the profits quickly and then scaling out as the move losses momentum.

In rescue, we add snowball in reverse to reduce average position to get out without loss, profits here are extra, as our timing thoughts were not in rhythm with the market. The rescue is quick and decisive, no second thought, rescue and get out, then look to reenter when timing is right

fwiw,

regards,

a
  • #3,136
  • Edited Jul 7, 2008 1:17am Jul 6, 2008 4:35pm | Edited Jul 7, 2008 1:17am
Looking at last weeks movement I like to send in a scout long in the area of
1.9785 for the g/u
1.5660 for the e/u
It looks like a good place to start the week if it presents itself.
The IBFX opens in 30 minutes we'll see what the market does this evening.
Any thoughts on having more up days than down this week? I suppose I just ought to see what the scouts come up with sunday evening first.
take care

e/u 1st rescue @ 5642
out with about -30 pips each, reevaluate tomorrow.
  • #3,137
  • Jul 7, 2008 1:48am Jul 7, 2008 1:48am
Hi All,
The fireworks continues,
for how long, I don't know.
But as it moves , I'll pace it like a leech.

regards
  • #3,138
  • Jul 7, 2008 1:50am Jul 7, 2008 1:50am
Quoting joypips
fti thankyou for the link.... absolutely riveting viewing! have watched all 5 videos. A one world government is quite a scary thought.
Now back to reading this thread, only up to page 80 so still have a way to go to catch up.(have only just discovered). Thought I would check out last page to see if still active and had to check out links. Sorry fti could not find the message in music video wish it was in english but the music was beautiful thankyou.(i also love to play josh grobin while i am dancing with the market)
you will be pleased to know that my charts are free of indicators except i am still struggling to let go of fibs. Thankyou everyone I will return when i have caught up and I'm sure I will have questions and hopefully contributions as well.

joy
Hi joypips,
welcome.

regards
  • #3,139
  • Jul 7, 2008 2:05am Jul 7, 2008 2:05am
Quoting Green_David
hi, FTI:

After several months experiment, I give up rescue operation.
OK noted, you were always free to choice how you traded.

1. It is too hard for me to rescue scout with more positions within 50 pips of pullback. And if rescue positions are trapped also, I am bitten more by the aligator(crockedile).
2. If my scout timing is too early, I just wait untill 100~200(GBP) pips against my scout to see if the price will resume the trend.
In a 200 pip impluse, the short trnd must have turned. Whether the hourly trend has changed may prompt you in your repositioning.

3. If it turned out the scout is against the daily trend, just take loss and start over. No point to rescue while trading against daily trend.
If that happened to me, I won't do as you suugested. If the market catches me, and force me to turn on wind to daily trend. I'll .........turn with full continuation snowballing. For undercapitalised , do not do this, It is very scary. I don't want anyone to get a stroke.


4. If the trend resumes, I try new price level and set up entry again.

When I tried to rescue bad positions, I found out that my added positions shall not overstay in the market so I have to take about 20 pips profits. And because of this I had a bad "habit", i.e. when my added positions are suppose to give me a 100-pip daily profit, I closed for 20 pips only.
I dont understand, ok so you make less, whats the problem? I never go riigid to count how much I make and should have made. I just make the $$, be thankful for the blessings (and $$) and move on. Gotta no time and mostly leave the ROI counts for those that cannot do.


Any comment, please.

Regards.

David
David,
Iam not sure, but you seem to be moving further and further from the basics.
Time to recap your MO esp mindset.


regards
  • #3,140
  • Jul 7, 2008 2:11am Jul 7, 2008 2:11am
Quoting lilpip
It sounds like your at one of those step back and evaluate for a few momments.
Myself, I did the same a couple weeks ago and my head was made clearer.
First what I did was take a day and did not think about trading the trades.
Like fti mentioned go to the beach, store, family, do something else and get your mind off it.
Go back to basics, refreash yourself reading back thru fti's old post.
Are you trading more than 1 pair regroup and just trade 1 pair.
I had been trading the gbp/usd 95% of time for 6 months just to get familier with yearly, quarterly, monthly, weekly highs, lows, closes and there trends. As I try to track and have an idea of the daily trend as we trade watching the 4hr.,1hr. 5 min. chart. I look at it as part of knowing the battlefield.
Although I seem to have a fairly good handle on it I guess I grew impatient and frustrated with the action I took with some of my trades.
So after the day off I looked over at the e/u as the entries seem to fall in place, I have to say its been refreashing few weeks.
I know you like the g/u but maybe if you see trades lining up on another pair give the g/u a temperary break.
To, fti mentions he focused on getting in and out of the market. Start with a goal of a shoter time frame, if the trade goes the way you expect your out in 30 minutes with just a scout left in, your rescues would be closer.
Of coarse most of the time it all hinges on identifying your daily support and resistance as we enter with the trend.
My experience has been that we can be on the right side of the g/u daily trend and have 30-60 pip swings if were out 120-180 were standing on the wrong side and were looking at our all night babysitting job. I can relate, I get aggrevated just thinking about it.
Your not dealing with anything different that anyone else is not dealt with in the past, present or again in the future.
Go enjoy life come back when your refreashed.
Just my 2 pips.
take care
Hi lilpip,
Time out is a good way to rejuvenate the energies. I always encourage it.
this is esp true with profits$$$ to spend, makes it so refreshing.

Try it, then you will be able to feel that the whole world is living on the cheap.

regards
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