QuoteDislikedGreed is a sin.
I know, I just don't want to loose some of my positions considering how hard it was to get them without getting stopped out in the first place.
ECN && STP && Scalping && Hedging - Broker Review - Oct 2009 24 replies
Trading technical analysis system based on Igrok method 137 replies
Forex Ideas & Comments 18 replies
The IGROK files - Adventures of a rookie using the Igrok method 416 replies
Fibonacci thoughts & ideas.... 13 replies
QuoteDislikedGreed is a sin.
DislikedI know, I just don't want to loose some of my positions considering how hard it was to get them without getting stopped out in the first place.Ignored
QuoteDislikedThere are some signs of short-term bullishness on the EUR/USD at the moment and no reliable levels for trailing stops nearby. A couple of years back I twice didn't take over 600 pips profits and had to close both trades at break even. That was a major frustration then and a complete waste of time.
DislikedDear Igor,
Do you allways put a trade with stop loss ratio higher then 1:1 ?
Never risk more that you can gain.
Thank you for your timeIgnored
DislikedI think answer is in the Igrok's book.
Sorry, if I am not right,
"...No stops must be placed based on reasons of money management only.
The binding of a stop should always be done to a specific technical
level. If the nearest suitable technical level lies on a distance more than
a trader can afford to lose in one transaction, he should refrain from
making a trade until the market comes close enough to such an
appropriate level...."
Igrok's Forex Main CourseIgnored
DislikedMurhpy'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.Ignored
DislikedYes, I read russian version of your book. (I'm from Belarus.)
I like this book. It's written simply and clearly. The only thing that was not pleasant - is focused on intraday trading. However I've found you at this forum and have seen that you trade not only inside day. Wonderfully!
p.s.: Do you have other books?Ignored
DislikedAmazing. And still you dedicate some of your time to post here with us (amateurs) ! Much appreciated
This looks like material for some of Jack D. Schwager books (author of the "world-famous" Market Wizards which contains interviews with some of the greatest traders from every market) if you've read it by any chance.
I saw you made an incredible return so far this year. This must be an personal record (?) and I guess your clients are pretty happyIgnored
Dislikedздравствулте Mr Igrok,
please excuse me if this was discussed before because i failed to find it if it was. can that yellow tl (neckline) could be holding a huge H&S pattern from your point of view? According to profit target calculations the outcome from this possible formation leads us to around 1860 points from the break point that i assume has happened on 8th this month. Price has fallen around 860 points so we are 1k points till the possible target of this H&S pattern (if that can be it). I observe that this yellow tl (neckline) has been holding price from March 2007 and was strong, but as you mentioned in your book every tl will be broken sooner or later, so it was broken. Now my question: from your professional view and long years in this bussines, the bigger part of such tl's (necklines) like these gets retested once broken or not? As i also see that the lower tl (blue) of this weekly bullish channel was broken as well, so price might not be able to reach that neckline. Excuse me if i have written in so complicated way though im trying my best.
ps. looking at gbpyen's big H&S pattern formed in 2007, i see that the broken neckline was retested this year @ 23.07.2008 around price 215.50 and was a great pleace to sell.
Thank you.Ignored
DislikedYou're wrote:
"...The second interesting factor of dealing with triangle-like formations is that, actually, a
false break is in many cases even better for a trader than a real one. It arms him with a
high degree of probability to forecast the further course of events, since a false break is
nothing else but a perfect confirmation of the market choosing the opposite direction for
its next sizable move (Figure 3.33)...."
But I don't have pictire # 3.33 ( In my book Figure 3.33 - missing )
We can see false break. So, if a true, target for long- 0.79 or 0.90 ?
Am I right?Ignored
DislikedThis is not a H&S formation on Cable, but it was indeed a perfect comeback to the neckline on the GBP/JPY followed by the rejection. The level at 215.50 was the most obvious place to sell it not just because it happened to be a neckline, but also because by coming back to this level the market was fulfilling its target for the billish divergence formed below.Ignored