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Simplicity is the Key

  • #221
  • Feb 8, 2007 1:48pm Feb 8, 2007 1:48pm
Trader101, very nice, congratulations to you! I don’t know what your system is but based on the title of this tread it is very simple. I too believe that simplicity is the key. I have been trading for 6 years. 2 years in the currencies market. I trade currencies totally different than I trade equities (stocks/options). My currency trade system is so simple I don’t use any technical indicators at all. They never worked for me consistently over time in the currencies market. All I have are candles. Here’s what simplicity can do for ya. Since January 1st of 07 I’m up a little over 5,000 pips. I only trade 4 pairs and I spend less than 2 hours a day.
Keep up the good work. And again congratulations on 2 consecutive successful weeks of trading.
~Jeff~
Life is like a stone, It can grind you, or it can sharpen you. Your Choice.
  • #222
  • Feb 8, 2007 1:56pm Feb 8, 2007 1:56pm
Hi, my stop loss wasn't 1.3030, I was hoping the Euro would stay above it - I see we have.

Good trading week for you, well done!

Jacquie
  • #223
  • Feb 8, 2007 1:59pm Feb 8, 2007 1:59pm
i still dont have the chart, but i know i am 1 pip up now, waht do we expect from a free chart services.
  • #224
  • Feb 8, 2007 2:04pm Feb 8, 2007 2:04pm
Quoting howtalru
Trader101, very nice, congratulations to you! I don’t know what your system is but based on the title of this tread it is very simple. I too believe that simplicity is the key. I have been trading for 6 years. 2 years in the currencies market. I trade currencies totally different than I trade equities (stocks/options). My currency trade system is so simple I don’t use any technical indicators at all. They never worked for me consistently over time in the currencies market. All I have are candles. Here’s what simplicity can do for ya. Since January 1st of 07 I’m up a little over 5,000 pips. I only trade 4 pairs and I spend less than 2 hours a day.
Keep up the good work. And again congratulations on 2 consecutive successful weeks of trading.
~Jeff~
All i can say is WOW for 5000 pips, Wow again. If you need a friend remember me, please. Thank you man. that means something to me, still i consider it lucky shots until i am confident this works.
  • #225
  • Feb 8, 2007 2:07pm Feb 8, 2007 2:07pm
I think the charts are back on line now. How about that.
~Jeff~
Life is like a stone, It can grind you, or it can sharpen you. Your Choice.
  • #226
  • Feb 8, 2007 2:09pm Feb 8, 2007 2:09pm
Quoting MrsMacTheKnife
Hi, my stop loss wasn't 1.3030, I was hoping the Euro would stay above it - I see we have.

Good trading week for you, well done!

Jacquie
Are you still on the EUro?? if Yes keep it please, dont get bored like me, you will will be rewarded by the pipgod.
regards
  • #227
  • Feb 8, 2007 2:13pm Feb 8, 2007 2:13pm
Quoting howtalru
I think the charts are back on line now. How about that.
~Jeff~
Thank you now i can see the world. LOL. I am happy for Jacquie she will be having 30 to 40 pips tonight from Euro, if i am right.
  • #228
  • Feb 8, 2007 2:20pm Feb 8, 2007 2:20pm
This thread turn out to be a FUN Thread now. more fun if more people participate in the discussion. Makes me squeeze my brain to much to produce good analysis because of the pressure to myself to make good in this endeavor, with your inputs makes it a little easier, with your encouragement makes it even more easier ... and fun.
  • #229
  • Feb 8, 2007 2:29pm Feb 8, 2007 2:29pm
i am making a quick analysis here, if both the UJ and CHF will continue their trend tonight they will hit the Selling Zone and projecting thier path like a weatherman JPY will deliver 80-90 pips, The CHF 70-80 pips and will stay there until the closing on Friday. It would be nice to catch these lightning in a bottle. Im just hoping if it happends should at least be 22:00 - 23:00 so i can join in. I hope i will not miss this.
  • #230
  • Feb 8, 2007 2:31pm Feb 8, 2007 2:31pm
Sorry....
CHF on the Buying Zone. Am i right UJ Selling CHF buying, ahh just like EUR in buying and GBP in selling...OK
  • #231
  • Feb 8, 2007 2:44pm Feb 8, 2007 2:44pm
finally, my CAD experiment move. so boring takes 30 minutes to get 1 pip up. ill keep it for while maybe the turtle will move now.
  • #232
  • Feb 8, 2007 3:17pm Feb 8, 2007 3:17pm
Closed
--Trade #21 Gain +1 pip

Looks like im scalping for a pip. Actually it is so boring and i have to go.
  • #233
  • Feb 8, 2007 3:19pm Feb 8, 2007 3:19pm
Quoting trader101
All i can say is WOW for 5000 pips, Wow again. If you need a friend remember me, please. Thank you man. that means something to me, still i consider it lucky shots until i am confident this works.
You’ll do just fine you are showing great restraint. Most people will demo trade just long enough to get a couple of good trades in and start real trading. Lose their account, refund it then start the cycle over. After doing that a couple of times they realize that maybe they should demo trade a little longer. Then after they have some success (I repeat “some success”) with demo trading. They try live trading again. But lack the discipline necessary to succeed in the currencies market. You can create discipline while demo trading. You just need to do it long enough to create it.
There are 2 disciplines in trading. The first one is a disciplined trading plan. The seconded is the discipline required to execute the plan. Too many trading plans are vague and/or there is too much left up for interpretation. When your trading plan is like that emotions rule your trading and you don’t even know it. You believe you are fallowing your trading plan but the plan leaves room for interpretation. So you interpret to fit your emotions at the time. Hopefully that made since because its important.
And of course the seconded discipline is your emotions. Most people misinterpret the statement YOU HAVE TO TRADE LIKE A ROBOT. They here that and they believe they have to shut there emotions down wile trading. Well we are not robots. I don’t even try to attempt doing that. When I am disappointed in a trade I am truly disappointed. When I am excited about a trade, I am truly excided. You just can’t let it influence your next trade decision that’s all, no big deal.
All you need to have is a detailed trade plane. And then execute it to the letter.
And be human about it, don’t try to be something your not. Trade who you are and be who you are.
So I congratulate you trader101, here you have gone 2 weeks 20 some odd trades and you understand that is not enough, not even close.
And you are humble. I like that.
Later,
~Jeff~
P.S. Leave room for life!
Life is like a stone, It can grind you, or it can sharpen you. Your Choice.
  • #234
  • Feb 8, 2007 3:20pm Feb 8, 2007 3:20pm
UPDATE
CLOSED TRADES 1 lot trades (for this week)
Trade #1 Closed Gain +90 (in 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 #10 Closed Gain +30
Trade #11 Closed Loss -25
Trade #12 Closed Gain +70
Trade #13 Closed Gain +20
Trade #14 Closed Loss -5
Trade #15 Closed Gain +55
Trade #16 Closed Loss -35
Trade #17 Closed Gain 2
Trade #18 Closed Loss -20
Trade #19 Closed Gain 12
Trade #20 Closed Gain 5
Trade #21 Closed Gain 1
--------------------------------
NET P/L(this week) + 211
--------------------------------
NET P/L(last week) + 108
--------------------------------
OPEN TRADES -- None
  • #235
  • Feb 8, 2007 3:34pm Feb 8, 2007 3:34pm
Quoting howtalru
You’ll do just fine you are showing great restraint. Most people will demo trade just long enough to get a couple of good trades in and start real trading. Lose their account, refund it then start the cycle over. After doing that a couple of times they realize that maybe they should demo trade a little longer. Then after they have some success (I repeat “some success”) with demo trading. They try live trading again. But lack the discipline necessary to succeed in the currencies market. You can create discipline while demo trading. You just need to do it long enough to create it.
There are 2 disciplines in trading. The first one is a disciplined trading plan. The seconded is the discipline required to execute the plan. Too many trading plans are vague and/or there is too much left up for interpretation. When your trading plan is like that emotions rule your trading and you don’t even know it. You believe you are fallowing your trading plan but the plan leaves room for interpretation. So you interpret to fit your emotions at the time. Hopefully that made since because its important.
And of course the seconded discipline is your emotions. Most people misinterpret the statement YOU HAVE TO TRADE LIKE A ROBOT. They here that and they believe they have to shut there emotions down wile trading. Well we are not robots. I don’t even try to attempt doing that. When I am disappointed in a trade I am truly disappointed. When I am excited about a trade, I am truly excided. You just can’t let it influence your next trade decision that’s all, no big deal.
All you need to have is a detailed trade plane. And then execute it to the letter.
And be human about it, don’t try to be something your not. Trade who you are and be who you are.
So I congratulate you trader101, here you have gone 2 weeks 20 some odd trades and you understand that is not enough, not even close.
And you are humble. I like that.
Later,
~Jeff~
P.S. Leave room for life!
I am so so glad i have started this thread, Opinions and advice like that is what i need especially from people so experienced and discipline like what you have relayed, they are valuable more valuable than the one written in the books that cost a lot oa money, here i could get it for free and it was given freely by unselfish people like yourself. Thanks you, sir...from the bottom of my heart.. wow melodramatic....Please keep visiting me here and perhaps we could trade together and share ideas... sometimes i could be bullheaded but ideas sometimes clash. dont you aggree???
Kind regards
  • #236
  • Feb 8, 2007 3:48pm Feb 8, 2007 3:48pm
OK folks, i am tempoarily signing off.
The JPY will hit the sell Zone perhaps around 19:00-1930. You will know it if the price drops to 120.80. do not hesitate. SELL it at 120.80 not before it might rebound back. Remember, i maybe wrong, if i am right you will have no less than 50 pips, till morning.
The CHF i dont think it will come soon.
Watch for the come back of GBP, if it hits 1.9660 BUY it and upon reaching 40 pips profit observe the strentgh use you bollinger bands.
Happy trading .. see you at 23:00
  • #237
  • Feb 8, 2007 3:55pm Feb 8, 2007 3:55pm
Hello Trader101, thank for posting your trades. I am just wondering if you have already posted your trading plan so that I can know what is your rules

Thank in advance for your response

Wishing you lot of pips

Shreem
  • #238
  • Feb 8, 2007 9:39pm Feb 8, 2007 9:39pm
Quoting shreem
Hello Trader101, thank for posting your trades. I am just wondering if you have already posted your trading plan so that I can know what is your rules

Thank in advance for your response

Wishing you lot of pips

Shreem
Hello Shreem,
At the present time, I not ready to publish the details of it during this testing period, in time, i will. Sorry for disappointing you at this moment. As a consolation, i am always calling my trades which fortunately, thay are right on the money (lucky shots) which you could help me monitor or perhaps trade it yourself ( paper of course)
regards
  • #239
  • Feb 8, 2007 10:06pm Feb 8, 2007 10:06pm
HELLO everyone.

--Trade #22
--Buy NZD/USD @MP (.6865)
--SL 20 + spread
--TP -- TBA
I know i should be careful about this pair as my notes always says, but heck the signal is good and a potential 50 pips.
  • #240
  • Feb 8, 2007 10:46pm Feb 8, 2007 10:46pm
Quoting trader101
HELLO everyone.

--Trade #22
--Buy NZD/USD @MP (.6865)
--SL 20 + spread
--TP -- TBA
I know i should be careful about this pair as my notes always says, but heck the signal is good and a potential 50 pips.
hi trader 101~

have you see the bullish sign of GU ?
looks like its forming a good trend now!
any thoughts?
"Quality means doing it right when no one is looking"
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