Simplicity is the Key | Page 10 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Simplicity is the ultimate form of sophistication ( Elite ) 866 replies

Why are we afraid of simplicity? 96 replies

Simplicity is the key to brilliance 36 replies

Signals for Simplicity 1,144 replies

The Journal of Simplicity Trade 12 replies

Attachments: Simplicity is the Key
Exit Attachments

Simplicity is the Key

  • #181
  • Feb 8, 2007 6:14am Feb 8, 2007 6:14am
Quoting trader101
Now i know the Interest Rate report of BOE is coming out at 7:00am, Damn, why i didnt know it earlier. i should have nto lost the 20 pips. And the EUR INterest rate also at 7:45 EST. Man this crazy reports are killing us.
No biggie. I would count that loss as "tuition". You'll know better how the price behaves around GBP interest rate announcements next time. I think usually interest rate statements come out as forecast- and then whatever the market was trying to do before the announcement "resumes".

In the meantime, you should be quite happy at having a pretty decent trading week in spite of the small setback.
Is your SL my TP?
  • #182
  • Edited 7:03am Feb 8, 2007 6:21am | Edited 7:03am
Open TRADE #19 SELL GBP/USD @MP
--SL 30 + spread
--TP - TBA
  • #183
  • Feb 8, 2007 6:25am Feb 8, 2007 6:25am
Quoting kenmania
No biggie. I would count that loss as "tuition". You'll know better how the price behaves around GBP interest rate announcements next time. I think usually interest rate statements come out as forecast- and then whatever the market was trying to do before the announcement "resumes".

In the meantime, you should be quite happy at having a pretty decent trading week in spite of the small setback.
I lost a -35 and a -20 on this, the one we earned (hard work) on CHF (55) was just to BE this news now i understand why technical people hate the news trader.
  • #184
  • Feb 8, 2007 6:44am Feb 8, 2007 6:44am
Quoting trader101
I lost a -35 and a -20 on this, the one we earned (hard work) on CHF (55) was just to BE this news now i understand why technical people hate the news trader.
I took your initial short signal to heart last night- entered when the price hit 1.9693. It commenced upward for much of the evening but you can see where 1.9720 is like a brick ceiling for cable. It started dropping back down about the time I jumped on your USDCHF call and when the cable trade went just a little positive for me I set my SL @ break-even, and of course my trade was stopped out.

However, knowing that your signals as well as mine were saying "short" for cable- I waited until a minute before news time and entered short with a 5 pip stop and then when the price took off I just trailed the stop down for a gain of about 30 pips.

I think the problem you were having was that you had a good signal but "dumb money" was pulling the price north just before the news and that screwed ya.

The lessons you learn now might cost you 20, 30, 50 pips...but if you remember them you'll gain many times that many back.
Is your SL my TP?
  • #185
  • Feb 8, 2007 6:52am Feb 8, 2007 6:52am
Quoting kenmania
I took your initial short signal to heart last night- entered when the price hit 1.9693. It commenced upward for much of the evening but you can see where 1.9720 is like a brick ceiling for cable. It started dropping back down about the time I jumped on your USDCHF call and when the cable trade went just a little positive for me I set my SL @ break-even, and of course my trade was stopped out.

However, knowing that your signals as well as mine were saying "short" for cable- I waited until a minute before news time and entered short with a 5 pip stop and then when the price took off I just trailed the stop down for a gain of about 30 pips.

I think the problem you were having was that you had a good signal but "dumb money" was pulling the price north just before the news and that screwed ya.

The lessons you learn now might cost you 20, 30, 50 pips...but if you remember them you'll gain many times that many back.
Thank you, sir, i will remember it next time, technically, i know this system is doing fine, i still have to know a lot of this, and the good thing is i am getting it from people like you, experience and learned without having to pay for tuition to those dumb book they are selling.Stay awhile Ken, maybe we could trade the AUD later.
Regards
  • #186
  • Feb 8, 2007 6:58am Feb 8, 2007 6:58am
Closed T#17 Gain 2 pips
Clsoed t#19 Gain 12 pips
I had to go somewhere. For others, you may keep this trade esp the GBP it will deliver a lot.
  • #187
  • Feb 8, 2007 7:02am Feb 8, 2007 7:02am
Quoting trader101
Thank you, sir, i will remember it next time, technically, i know this system is doing fine, i still have to know a lot of this, and the good thing is i am getting it from people like you, experience and learned without having to pay for tuition to those dumb book they are selling.Stay awhile Ken, maybe we could trade the AUD later.
Regards
LOL you're welcome, but I don't consider myself experienced yet. I learned this lesson right alongside of you.

I wish I could hang around for your AUD trade but I'm closing up shop for the week- headed out of town.

I do look forward to seeing more of your calls, though- it seems your father has left you quite a winning method.

blessings to ya,

ken
Is your SL my TP?
  • #188
  • Feb 8, 2007 7:07am Feb 8, 2007 7:07am
UPDATE
CLOSED TRADES (for this week)
Trade #1 Closed Gain +90 pips
Trade #2 Closed Loss -24
Trade #3 Closed Loss -17
Trade #4 Closed Gain +20
Trade #5 Closed Gain + 2
Trade #6 Closed Loss -25
Trade #7 Closed Loss -15
Trade #8 Closed Gain +20
Trade #9 Closed Gain +50
Trade#10Closed Gain +30
Trade#11Closed Loss -25
Trade#12Closed Gain +70
Trade#13Closed Gain +20
Trade#14Closed Loss -5
Trade#15Closed Gain +55
Trade#16Closed Loss -35
Trade#17Closed Gain 2
Trade#18Closed Loss -20
Trade#19Closed Gain 12
-------------------------
NET P/L + 205
-------------------------
NO OPEN TRADE

See you guys in about 2 hours, perfect for the AUD/USD signal to form, perhaps we could get 45 - 60 pips from there. I like to raise my total for the week to at least 250.
  • #189
  • Feb 8, 2007 7:09am Feb 8, 2007 7:09am
Quoting kenmania
LOL you're welcome, but I don't consider myself experienced yet. I learned this lesson right alongside of you.

I wish I could hang around for your AUD trade but I'm closing up shop for the week- headed out of town.

I do look forward to seeing more of your calls, though- it seems your father has left you quite a winning method.

blessings to ya,

ken
See you around then, KEN..
I will be back in 2 hours for the AUD/USD
  • #190
  • Feb 8, 2007 9:30am Feb 8, 2007 9:30am
Hello, im back. Quick on the charts, Hmm...AUD rebounded.. some guy with a lot of money protected the 0.7790. Signal is away.
NZD/USD - looking good -- maybe we could trade this later -- profitability only around 30 - 40 pips
USD/CHF-- looking good profitabiliity around 40 to 50 pips
THE REST OF THE MAJORS are already on the trend.
Those who trade the GBP.. Keep it up to tommorrow, i can see a lot of pips but i could be wrong.

So only two we will monitor closely CHF short and NZD short
  • #191
  • Feb 8, 2007 9:35am Feb 8, 2007 9:35am
Opps.. i over look the EURO, it looks good, Iam goinf to trade this LONG, i will check the prpfitability first.
  • #192
  • Feb 8, 2007 9:39am Feb 8, 2007 9:39am
around 60 to 70 pips but i could be wrong. I will trade this

--Trade #20 BUY Eur/USD @MP(1.3025)
---SL 20 + spread
---TP - TBA
  • #193
  • Feb 8, 2007 9:45am Feb 8, 2007 9:45am
Trade #20 (BUY Eur/USD @MP(1.3025))
This is a very fast trade I am 5pips up already, i dont like fast action like this, very volatile as long as it is to your favor ok. Normally they dont last long. But i could be wrong and it might deliver 40 to 60 pips.
  • #194
  • Feb 8, 2007 9:55am Feb 8, 2007 9:55am
For information i welcome opinion and comments in this thread. when i started this thread i was just thinking of making this as a venue for testing my method and strategy, but the thread develop into like a live trading room. There msy some that trade this live, please note that i am not responsible for any loses you incur and it is solely your own discretion. For those that are winning already, i have no intention of getting any commission from the signal we braodcast during this method testing period. If you are one of those either losing or winning, i want to hear yur opinion.
regards
  • #195
  • Feb 8, 2007 10:00am Feb 8, 2007 10:00am
..is your Mum still alive and does she know you are 'gambling'?

I loved your story of finding your late father's trading method and am watching your thread with interest. When you finally name it, it will have to have something to do with 'ducks' in the title...

Good luck to you and by the way, I am long on the Euro - fingers crossed!

Jacquie - in snowy England (I had to mention that, it's not very often we get it and the whole country seems to come to a standstill!)
  • #196
  • Feb 8, 2007 10:05am Feb 8, 2007 10:05am
Quoting MrsMacTheKnife
..is your Mum still alive and does she know you are 'gambling'?

I loved your story of finding your late father's trading method and am watching your thread with interest. When you finally name it, it will have to have something to do with 'ducks' in the title...

Good luck to you and by the way, I am long on the Euro - fingers crossed!

Jacquie - in snowy England (I had to mention that, it's not very often we get it and the whole country seems to come to a standstill!)
Hello there, We are up 10 already, Maam
As a matter of opinion, i dont think trading is gambling but i will not say that to my mother's face.
Regards
  • #197
  • Feb 8, 2007 10:09am Feb 8, 2007 10:09am
Here's hoping 1.3030 holds - I'm off to brave the snow and run some errands so catch up with you later.

Jacquie
  • #198
  • Feb 8, 2007 10:14am Feb 8, 2007 10:14am
We are experiencing an Artic blast of cold winter winds here in NYC and nobody wants to go outside, i like it, just trading until i reached my goal of 250 pips a week. which i am really hoping i could make it this week, last week (first week of trading) i did not reach the goal I was only 103 i think, but that because i was only focusing in EURO, this week i widen the trading zone to seven pairs. But again big caution on AUD, NZD and CAD. The unpredictable pair, doesnt trend a lot. But maybe i am wrong, and these 3 pairs will give us good pips in the weeks to come.
  • #199
  • Feb 8, 2007 10:25am Feb 8, 2007 10:25am
Quoting MrsMacTheKnife
Here's hoping 1.3030 holds - I'm off to brave the snow and run some errands so catch up with you later.

Jacquie
Is that the SL you have 1.3030? thats so brave, if i were you ill add soemthing at least 1.3000. But again it is you call and i could be wrong.
  • #200
  • Feb 8, 2007 10:33am Feb 8, 2007 10:33am
Quoting trader101
Trade #20 (BUY Eur/USD @MP(1.3025))
This is a very fast trade I am 5pips up already, i dont like fast action like this, very volatile as long as it is to your favor ok. Normally they dont last long. But i could be wrong and it might deliver 40 to 60 pips.
hey~

Good day

I was waiting to short EU at 1.3045 with TP at 1.3010

BTW, what an amazing move on USD/CHF ~
"Quality means doing it right when no one is looking"
2 traders viewing now