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Igrok Method. Q's & A's. Comments, thoughts and ideas

  • #1,261
  • Aug 12, 2008 11:21pm Aug 12, 2008 11:21pm
Quoting BentRod
GBPJPY popped out nicely.
This outcome was obvious since last week.
  • #1,262
  • Aug 13, 2008 4:00am Aug 13, 2008 4:00am
Quote
Something is wrong with your data. The line has been broken long time ago. Last week actually.

And to think I pay for this data so I know it's clean!
I can't work out where it is wrong either.

Anyway, regarding USDCAD, I'm just trying to gauge where this pair is going longer term.

I'm still long from 98.44 where I entered with a 30 pip stop after we spotted that diamond type formation.
The plan was to catch the yearly range and that's it, not sure now though.
  • #1,263
  • Aug 13, 2008 4:11am Aug 13, 2008 4:11am
Quoting BentRod
...after we spotted that diamond type formation...
funny enough
  • #1,264
  • Aug 13, 2008 4:15am Aug 13, 2008 4:15am
  • #1,265
  • Aug 13, 2008 6:25pm Aug 13, 2008 6:25pm
Hi Igrok,

Many thanks for the clue on GU.. you made me could suck some blood from my broker

Apart from using major trendline break for your TA (not fundamental) reasoning, I'm still wondering though.. how could you perfectly projected the "correct timing" especially the "strength" of the break-momentum?

Was it because of there's a valid divergence forming that time (as attached)? and ++?.. Please advise more at your convenience. Thanks again!

Regards
Attached Image (click to enlarge)
Click to Enlarge Name: gu_140808mn1.gif Size: 153 KB
  • #1,266
  • Aug 13, 2008 7:00pm Aug 13, 2008 7:00pm
Quoting metapips
I'm still wondering though.. how could you perfectly projected the "correct timing" especially the "strength" of the break-momentum?

Was it because of there's a valid divergence forming that time (as attached)? and ++?.. Please advise more at your convenience. Thanks again!

Regards
I think that after 15 years of active trading you too will learn a lot of interesting and useful stuff about market's behavior. There is nothing new in it for me as have already seen everything and have actively participated in it.
I understand that this is not the answer you had expected but for the detailed explanation why and how it can be done I would have to write another book.
  • #1,267
  • Aug 13, 2008 7:30pm Aug 13, 2008 7:30pm
Quoting Igrok
I think that after 15 years of active trading you too will learn a lot of interesting and useful stuff about market's behavior. There is nothing new in it for me as have already seen everything and have actively participated in it.
I understand that this is not the answer you had expected but for the detailed explanation why and how it can be done I would have to write another book.
I really wish I could get close-enough to your level in 15 years.. and I very much appreciate all your inputs and small little clues (here and there.. now and then...) while am trying to get there.. whenever you're convenience of course...

Cheers
  • #1,268
  • Aug 13, 2008 9:28pm Aug 13, 2008 9:28pm
Quoting metapips
I really wish I could get close-enough to your level in 15 years..
Unlikely, of course, but at least you should try....
  • #1,269
  • Aug 13, 2008 10:53pm Aug 13, 2008 10:53pm
Quoting Igrok
Unlikely, of course, but at least you should try....
Quite likely.. if using the same deadly kungfu-stroke, (with your generous helps for clues.. bits and pieces.. now and then...) of course, when you are convenience and willing to...

Regards,
Available Learner (for diamond-level)
  • #1,270
  • Aug 14, 2008 12:41am Aug 14, 2008 12:41am
Quoting metapips
Quite likely.. if using the same deadly kungfu-stroke, (with your generous helps for clues.. bits and pieces.. now and then...) of course, when you are convenience and willing to...
I would rather prefer to stay in the league of my own as I'm afraid that the market just couldn't afford two of us.
  • #1,271
  • Aug 14, 2008 1:13am Aug 14, 2008 1:13am
Quoting Igrok
I would rather prefer to stay in the league of my own as I'm afraid that the market just couldn't afford two of us.
LOL...

Oh common now please.. with your present level already on banks.. I would just be a newcomer-pipcula sucking blood only on small brokers...
  • #1,272
  • Aug 14, 2008 2:39am Aug 14, 2008 2:39am
What particular (personal) assets made you successful in this market ? i.e intelligence, passion etc.

And how many years did it take before you understood that this could really work out or did you made your mind before you started out ?
Measure twice, cut once
  • #1,273
  • Edited 3:30am Aug 14, 2008 3:08am | Edited 3:30am
Quoting aediaz1
1.What particular (personal) assets made you successful in this market ? i.e intelligence, passion etc.

2. And how many years did it take before you understood that this could really work out or did you made your mind before you started out ?
1. I don't really know... A combination of factors, I guess. Some good education was definitely there. Plus I have never had a boss in my life except for a couple of years during the military service. So, I have always been making my own decisions and counting on myself only. That gave me the immunity from any sort of crowd psychology, which is a great advantage in this particular bussiness. Also patience, of course.

2. I knew it from the day one that sooner or later I will figure out how the market works and will find the way how to beat it. But it took a lot of time and efforts to get the job done. In fact I have never traded any dummy account. There simply weren't any on-line trading available those days and I had to trade real money from the very beginning. The first Forex related book was published 2 or 3 years after I became a pro trader. So, I spilled a lot of my own sweat and blood to get some positive results.
  • #1,274
  • Aug 14, 2008 5:39pm Aug 14, 2008 5:39pm
Quoting Igrok
1. I don't really know... A combination of factors, I guess. Some good education was definitely there. Plus I have never had a boss in my life except for a couple of years during the military service. So, I have always been making my own decisions and counting on myself only. That gave me the immunity from any sort of crowd psychology, which is a great advantage in this particular bussiness. Also patience, of course.

2. I knew it from the day one that sooner or later I will figure out how the market works and will find the way how to beat it. But it took a lot of time and efforts to get the job done. In fact I have never traded any dummy account. There simply weren't any on-line trading available those days and I had to trade real money from the very beginning. The first Forex related book was published 2 or 3 years after I became a pro trader. So, I spilled a lot of my own sweat and blood to get some positive results.
I've read a handful of books regarding (psychology) how different people make success in there life, also from succesfull traders, and its really inspiring to know that almost everyone who've made success/reached big personal goals in there life had ,in almost every case, imagined/had thoughts of how they would succeed in one way or another. I could go deeper but I'd guest that nobody really cares and to respect your thread too.

You also mentioned that that there wasn't any books regarding FX at the earlier stage of your career, didn't you read any other books regarding TA? I saw you mentioned the well-famous TA book by Murphy in your favourite-thread . Did you discover this book before or after your research ? Reason I ask is that I thought this particular book was the bible regarding TA. By critical mistakes you mean set-ups which could/would not increase any probability or did you simply find better statistic (or whatever) reliable ways to gauge the market?
Measure twice, cut once
  • #1,275
  • Aug 14, 2008 6:38pm Aug 14, 2008 6:38pm
Quoting aediaz1
I've read a handful of books regarding (psychology) how different people make success in there life, also from succesfull traders, and its really inspiring to know that almost everyone who've made success/reached big personal goals in there life had ,in almost every case, imagined/had thoughts of how they would succeed in one way or another. I could go deeper but I'd guest that nobody really cares and to respect your thread too.

You also mentioned that that there wasn't any books regarding FX at the earlier stage of your career, didn't you read any other books regarding TA? I saw you mentioned the well-famous TA book by Murphy in your favourite-thread . Did you discover this book before or after your research ? Reason I ask is that I thought this particular book was the bible regarding TA. By critical mistakes you mean set-ups which could/would not increase any probability or did you simply find better statistic (or whatever) reliable ways to gauge the market?
Murhpy's book about the futures is a very good one and was already available then. I first got it in my hands about a year into my trading career. However there were two problems with that: first, the book is more about the futures while TA on forex is quite a bit different; and second, I barely spoke any English that time. So, when I got it, I mostly relied on the pictures comparing them to the historical charts and often just guessing what the autor means by saying this or that. Most of his text was beyond my understanding capability and I had to formulate a lot of TA rules, concept and other stuff by myself. The very first book directly related to forex has been published by Cornelius Luca in 1995 or 1996. By the time it went out of print I already knew about the market from my own experience and research more than he put into it.

While making my own research I was looking for something more reliable and efficient than that classic TA approach. I immediately threw away all the "fortunetelling" theories like Fibo, Gann and Elliott, most of the indicators and candlesticks, concentrating on natural market behaviour and mostly searching for some repetitive characteristics that can't be changed over time. I filtered and refined some of the classic concepts, also formulated completely new ones and developed sone brand new tools. So, I guess, I really did find a more effective way to deal with the issues. By the time I got the job done and could read Murphy's "bible" freely I already knew what is effective and what is not in his and others TA versions descriptions.
  • #1,276
  • Aug 15, 2008 6:05am Aug 15, 2008 6:05am
EUR/USD, AUD/USD, Cable and USDX look a bit oversold at these levels on daily charts. Some retracement seems possible, but USD must be bought back on any RSI relief. USDX has stalled just 10 pips ahead of its year high but now this level looks unlikely to hold for much longer.
  • #1,277
  • Aug 15, 2008 6:18am Aug 15, 2008 6:18am
Gday Igrok.

Do you have many longer term positions on?

Or have you been mostly trading the past weeks volatility intraday?

cheers
  • #1,278
  • Aug 15, 2008 6:25am Aug 15, 2008 6:25am
Quoting BentRod
Gday Igrok.

Do you have many longer term positions on?

Or have you been mostly trading the past weeks volatility intraday?

cheers
I just pocketed some profits. Don't want to be too greedy as I have more than tripled my accounts this month alone. Considering that I don't leverage it much and a per trade risk doesn't usually exceed 1-1.5% it seems like a good result.
  • #1,279
  • Aug 15, 2008 6:33am Aug 15, 2008 6:33am
I'm getting near that stage too but still have a lot on the table.

I always find it hard to close out the real good trades.
The stops I have on EURO and USDCAD are miles away and it's tempting to 'let em run' even more.

Getting greedy I suppose.
  • #1,280
  • Aug 15, 2008 6:35am Aug 15, 2008 6:35am
Quoting BentRod
I'm getting near that stage too but still have a lot on the table.

I always find it hard to close out the real good trades.
The stops I have on EURO and USDCAD are miles away and it's tempting to 'let em run' even more.

Getting greedy I suppose.
Greed is a sin.
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