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  • #1,881
  • Edited 4:10pm Aug 3, 2008 3:50pm | Edited 4:10pm
Quoting edeyj999
Many thanks for the feedback from all. Helps to hear other traders experiences.

Now back to the two potentials - EUR/JPY and GBP/JPY. Both look tempting - worth a go, do you think?
Marketiva has these 2 pairs, so i will do these trades with a little money and see.
But as you know i m a beginner, trying to loose his money

Edit: if you look in the 5 min or 15 min charts, they are both going up since friday.
I would wait.
  • #1,882
  • Aug 3, 2008 5:20pm Aug 3, 2008 5:20pm
Todays trades will definitely win...Who will bet that???
  • #1,883
  • Aug 3, 2008 5:28pm Aug 3, 2008 5:28pm
not me
the charts are fallig down like raindrops now, iīm in.
  • #1,884
  • Aug 3, 2008 6:06pm Aug 3, 2008 6:06pm
Where'sYen; he's definitely not in the house..........



Maybe he's falling off the burrow somewhere ....hehehehe
  • #1,885
  • Aug 3, 2008 6:27pm Aug 3, 2008 6:27pm
... after a couple of fresh mexican beer...
  • #1,886
  • Aug 3, 2008 6:29pm Aug 3, 2008 6:29pm
Quoting femzy112
Todays trades will definitely win...Who will bet that???
Im in both of these trades, so far so good, nice call.
  • #1,887
  • Aug 3, 2008 7:47pm Aug 3, 2008 7:47pm
Quoting edeyj999
I have monitored the system rigorously during July and, if the rules were strictly adhered to, then the system is in loss.
Not true. The "rigorous" rules include Support and Resistance which can and DO affect SL & TP, and entry / exit decisions.
  • #1,888
  • Aug 3, 2008 8:55pm Aug 3, 2008 8:55pm
ASH's system is an entry option. It is up to the trader to use discretion. These are high probability entries because they are off of the daily. With that said if you follow blindly and do not have the ability to manage and adapt as the trade progresses it is a craps game and you are rolling the dice....some examples; S/R, price spikes, price action, momentum, doji's, reversals and other candle patterns that develop you should just trade a robot and see if a mechanical method works better for you. You need to be an effective trader to trade the system not a blind follower of the indicators presented. This is a great method as is Pipnailer if traded using one's trading intuition and ability. Don't blame ASH if you have a succession of losers with this. Analyse how you managed the trade. There is always a nailed candle aound the corner for an opportunity to do better or just get on the thread and whine because it did not work out. ASH does not throw junk out there that he dosen't feel confident in trading himself. If you spent countless of hours on these forums and read his post you would have known that by now. Good luck on the next nailed one!
  • #1,889
  • Edited 10:30pm Aug 3, 2008 9:36pm | Edited 10:30pm
Quoting femzy112
Where'sYen; he's definitely not in the house..........

Maybe he's falling off the burrow somewhere ....hehehehe
Quoting ricki72
... after a couple of fresh mexican beer...
It was really the burro that got into the beer, and I had to go bail him out of jail, as you can see in the picture.

Actually, I was out and about all afternoon, so missed the start of the Monday candle. I was planning to take the gbp/jpy short, but price had already moved down about 30 pips by the time I got home, so I have a sell limit order set if price climbs back to 212.60. Otherwise, I'll just catch the next trade.

I chose not to take the eur/jpy signal, but good luck to those who did.
Attached Image
Greetings from Guanajuato, Mexico
  • #1,890
  • Aug 4, 2008 12:01am Aug 4, 2008 12:01am
FXDD new daily candles come at 2pm PST right?
  • #1,891
  • Aug 4, 2008 12:04am Aug 4, 2008 12:04am
Quoting dengzhi
FXDD new daily candles come at 2pm PST right?
Yes.
Greetings from Guanajuato, Mexico
  • #1,892
  • Aug 4, 2008 1:17am Aug 4, 2008 1:17am
CAUTION EVERYONE.... I screwed up. On the chart tonight on eur/usd doing some scalping. I always have the order window open on my chart when scalping and check the pair listed. Well this happened twice before I figured it out. I was on FXDD. The order window registered EUR/USD. While waiting for the next candle I scrolled the chart back an hour or so and only looked at the info for 30 seconds at the most... then scrolled back to where the active trade was registering. I saw the buy entry on the chart and took it. about 10 minutes later I closed the trade. I had made about 12 pips. When I went to the History tab... I had lost about 14 Pips. What the hell is going on the burro said...no suds doing this! When I scrolled back to check the chart... it changed the pair on the order window because I was scrolling. I didn't know it would do that... $140 lesson...Ouch! Won't make that mistake again.

Ricki...If I'm on the charts and I'm down 10 pips on an Ash trade... I get out and watch. When and if it turns around I get back in for the rest of the ride. Often saving me 40-60 pips. But remember I'm always monitoring the charts. Sometimes when I leave the house I'll put a stop loss of 30 pips. And yes, most times I get stopped out. Over the last couple of days... if I leave the house I just close the trade. There is always the next trade coming and it saves me 30 pips loss when I do it that way... I'm not suggesting anyone else do it the same way... but it works for me.

I hope no one looses any pips by screwing up the way I did. Tell the burro I won't do that any more.

Just wanted to post this to help others. Eric
  • #1,893
  • Aug 4, 2008 2:45am Aug 4, 2008 2:45am
Quoting forexmoments
Not true. The "rigorous" rules include Support and Resistance which can and DO affect SL & TP, and entry / exit decisions.
Apologies Ash - you are correct. However, I was just trying to point out that if anyone were to take all the entry signals then the system is in loss for July. Upon re-reading your .pdf you do state, at the end, that S/R, fibs etc. should be taken into account. Maybe that needs to be highlighted a bit stronger in your paper - just a thought.

I am not "whining" as some other posters seem to think. Just adding some thought to the debate, which is what I thought these forums were for. Maybe they are just for people to brag about their pip gains!
James The Beekeeper
  • #1,894
  • Aug 4, 2008 5:24am Aug 4, 2008 5:24am
Quoting yen44x
I chose not to take the eur/jpy signal, but good luck to those who did.
thanks, -70 pips actually.. i pushed the stop loss up.
Why didnīt you want to take it?

gbp/jpy still around 0
  • #1,895
  • Aug 4, 2008 5:53am Aug 4, 2008 5:53am
Quoting ricki72
thanks, -70 pips actually.. i pushed the stop loss up.
Why didnīt you want to take it?

gbp/jpy still around 0
The EUR/JPY short may yet prove to be a good trade, but I just didn't like the setup for a couple of reasons:

1. The huge stop loss required made for an unattractive R:R IMO. I'm not sure why you needed to push the stop loss up when you were at only -70, because the stop loss on this SS trade needed to be about 252 pips (using the swing high of 7/23).

2. I also took a look at how price behaved around the trend line on 8/1. Although we had a nice move down, it failed to push past the trend line. Combined with the large stop loss, that was enough to convince me to stay out.

Again, this may prove to be a decent trade, but I just didn't feel comfortable with it. If I was going to take this trade, I would look to enter when price re-tests the 170 area, or at some point when my stop loss could be around 100 pips or so. Then, it would look like a much more attractive trade to me.
Attached Image (click to enlarge)
Click to Enlarge Name: eur-jpy.gif Size: 11 KB
Greetings from Guanajuato, Mexico
  • #1,896
  • Aug 4, 2008 6:01am Aug 4, 2008 6:01am
Quoting edeyj999
Apologies Ash - you are correct. However, I was just trying to point out that if anyone were to take all the entry signals then the system is in loss for July. Upon re-reading your .pdf you do state, at the end, that S/R, fibs etc. should be taken into account. Maybe that needs to be highlighted a bit stronger in your paper - just a thought.

I am not "whining" as some other posters seem to think. Just adding some thought to the debate, which is what I thought these forums were for. Maybe they are just for people to brag about their pip gains!
My response to your earlier post was more of a compliment for illustrating the need to look at other factors in addition to the AshFX signal. Your post inspired some debate, which is a healthy part of any thread, but in re-reading the other posts that followed yours, I can't find a single instance of anyone who even hinted that you were "whining".

Did I miss something?

As an addendum, I will mention this: When you end this post with the statement that maybe the forums "are just for people to brag about their pip gains!", that does smack of whining in my opinion.
Greetings from Guanajuato, Mexico
  • #1,897
  • Edited 7:24am Aug 4, 2008 7:13am | Edited 7:24am
Quote
because the stop loss on this SS trade needed to be about 252 pips (using the swing high of 7/23).
252 pips!!!
on the PDF itīs written
"so to calculate the number of pips your SL would be for a short, then the formula would be SL= candleīs high - candleīs close."
This would be here :
(from Marketiva) 1.6842 - 1.6768 = 74 pips

For SS trades, "when going short, the initial SL would be at the swing high"
May be i donīt understand.. what does this mean?

Edit: ok true, i forgot eur/jpy was a SS signal
  • #1,898
  • Aug 4, 2008 7:22am Aug 4, 2008 7:22am
Quoting yen44x
My response to your earlier post was more of a compliment for illustrating the need to look at other factors in addition to the AshFX signal. Your post inspired some debate, which is a healthy part of any thread, but in re-reading the other posts that followed yours, I can't find a single instance of anyone who even hinted that you were "whining".

Did I miss something?

As an addendum, I will mention this: When you end this post with the statement that maybe the forums "are just for people to brag about their pip gains!", that does smack of whining in my opinion.
Yen I wasn't having a go at you - apologies if it appeared that way.

However, see post http://www.forexfactory.com/showpost...postcount=1888 for the reference to whining.

I am not whining about people posting their wins, far from it. I wouldn't do it myself but then everybody has a right to post what they wish. Just that as soon as someone questions something then there appears to be a defensive post that attacks that individual. Maybe I am being too sensitive.
James The Beekeeper
  • #1,899
  • Aug 4, 2008 7:23am Aug 4, 2008 7:23am
Quoting edeyj999
Upon re-reading your .pdf you do state, at the end, that S/R, fibs etc. should be taken into account. Maybe that needs to be highlighted a bit stronger in your paper - just a thought.
yes, would be good for beginners like me.
i donīt even know what S/R, fibs etc. are.

Well for S/R i have an idea. Acc. to one post of Yen with a picture, i understood the resistance is a straight line combining the tops of the chart during some months. So the chart doesnīt seem to be able to break threw this line.
The support is the line that combines the bottoms of the chart, right?

Can somebody explain to me in short words or give me a link?
  • #1,900
  • Aug 4, 2008 9:29am Aug 4, 2008 9:29am
EJ @ -106
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