I have been following this thread for about 2 weeks now and have had a sound education in the process. I join others who have posted before in thanking BRV, Iron-Man, and others who have selflessly shared their knowledge and insight with others. I hope to be able to contribute soon.
Meanwhile, observer2000, where is the Google spreadsheet you refer to?
Guys,
I am really concerned about the quality of calls we are making because I would like to calculate the statistical edge of the method we are talking about. Actually I mean profit factor of NB trading.
Thus, I encourage everybody, who would like to participate, provide me with your username and start submitting your calls directly into our Google spreadsheet.
Please remember that the goal of the project is to identify sure NB trades so please be very cautious. If you doubt about your call please skip it. We are not looking for a large number but for trades quality.
So,
1. Lets not kill this thread with calls recording them in our spreadsheet.
2. When you submit your call please provide as much reasoning as possible
3. I am going to implement something like a verification process. At the first stage we just accumulate all calls at "Calls" page. Later, at the second stage, only calls which pass BRV's conditions for valid S/R levels will be considered for performance evaluation and presented on "Sample" page.
Thank you for your cooperation and good luck to all of us.
I've been laying a bit lower than normal here the last couple of days because I'm quite honestly wondering how to approach this thread as a whole as it gets larger.
First, there have been a number of irrelevant or otherwise inappropriate posts in the past couple days which have nothing to do with the contents of this thread and hurt it as a whole in terms of its quality. Please keep in mind that, even though you might not be a professional trader, or even if you are, I do this for a living and am hoping to teach others here how to do the same, and have stressed this thread's mission as we move along. We have done quite well learning from each other in short amount of time this thread was created and I aim to keep its content in good order. Posting irrelevant or inappropriate or offensive posts are not okay by me or ForexFactory as a whole. Please watch out for the borders and use common sense.
Secondly, in regards to the user trade calls, there has been a lot of various discussions and recommendations on how to apprach this. Here is my situation: I wanted to start doing this regularly but the larger this thread gets, its simply unrealistic for me to do so. Observer2000 has stepped up to the plate and offered to start keeping track of these. Here are my suggestions to particularly observer and in response to other recommendations made over the past few days:
-keep everything here; starting another thread will evolve into the similar situation in this thread, anyway, trust me
-in terms of the quality of trades and in regards to verifying anything, I just dont have the time - its not realistic for me unfortunately
Here's my recommendation: Users post trades the same way I do, they get added to the page, and they get tracked...that's it.
As long as they follow the rules theyre fine:
-they have to be based on obvious levels of support and resistance, and
-have to be called before they occur.
Observer, I noticed your new input area on the google page, but I dont know if its going to work out in the long run. Adding steps to a process in a thread where we have new users coming in each and every day is going to become very confusing. Again if there are simply too many for you to keep track of, no big deal we dont really have to do it.
Bottom line is we're getting way too complicated here; there's so much discussion about it and it making me a little nuts. If it gets to be too much, we just stop doing it....no big deal. People can keep posting suggestions as they have been as we've already been very productive in this area.
I want to keep it simple...people post the trades that follow the rules, they get tracked....that's pretty much it. Other suggestions are appreciated though I dont know how practical they are. Thank you again for the hard work and effort.
