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University of Trading- BEAT THE BROKER

  • #1
  • First Post: Edited Sep 6, 2008 3:53pm Sep 5, 2008 8:33am | Edited Sep 6, 2008 3:53pm
Hello everyone and welcome to the University of Trading- beat the broker thread. My name is Hemal Pandya, a full-time trader based in the south of Spain.

A bit about me, I graduated in Finance & Law from Bournemouth University and have been trading for around two years. My background is retail, project management and financial consultations.

I trade FX and commodities, although I follow the majors, I specialise in GBPUSD, EURUSD and Gold. I started out by following 15+ charts, but found that I missed many entry signals and was chasing trades. By concentrating on just a few pairs and using crude as an important indicator itself, my results have significantly improved. My first target is 1000 points per month, anything else is a bonus! I use the metatrader platform as I have found this to very flexible for new indicators.

My strategy:
I use a combination of Moving Averages, the key being that it's setup to show various time frames on the one chart. The CCI, a momentum indicator shows the immediate, medium and longer term trend. I'll post settings below, or I can email the template to you which you can just load. My email is [email protected]

Indicators:
1 min chart:
MAs- 5,20, 100, 300 & 1200
CCI- 21,105 & 315

5min: 4, 60, 240, 600, 960
CCI- 63, 252 & 4

15 min:
MAs: 800, 320, 200, 80 20 & 7
CCI: 21, 84 & 7

1hr:
MAs- 480, 200, 80, 50, 20 & 5
CCI- 21, 84 & 5

4hr:
MAs- 5, 20, 50, 120 & 1500
CCI- 5, 21, & 126

Daily:
MAs 50, 99, 250, 20
CCI- 21, 106, 4

Weekly-
MAs: 5,20, 50, 80, 200 & 321
CCI:21, 84 & 4

If you have any problems setting it up, feel free to PM, skype or email me at [email protected]

Best Regards,

Hemal
  • #2
  • Sep 5, 2008 8:51am Sep 5, 2008 8:51am
So now you have the settings, the chart should look something like this...

Note how the middle CCI turned red and the price action broke through the 99 Moving average (dark red line) and the price is 1000 points lower.

I will be back later to discuss the strategy in more detail.

Hemal
Attached Image (click to enlarge)
Click to Enlarge Name: golddaily5thsept.gif Size: 51 KB
  • #3
  • Sep 5, 2008 10:19am Sep 5, 2008 10:19am
Yep I would like you to explain how you trade this. 1000 pips a month thats a lot.
  • #4
  • Sep 5, 2008 10:39am Sep 5, 2008 10:39am
This thread title caught my attention, and im a little concern.
It will be bad for us, traders if we beat all the brokers.. Who are we going to trade with then???

On another note, YES it is possible to capture 1000 pips in a month, it is even possible to capture it in a week, one way is to increase your lot size.
Thanks
  • #5
  • Sep 5, 2008 10:42am Sep 5, 2008 10:42am
Perhaps you would be kind enought to post MT4 templates for your chart setups?
  • #6
  • Sep 5, 2008 12:14pm Sep 5, 2008 12:14pm
Quoting trader101
This thread title caught my attention, and im a little concern.
It will be bad for us, traders if we beat all the brokers.. Who are we going to trade with then???

On another note, YES it is possible to capture 1000 pips in a month, it is even possible to capture it in a week, one way is to increase your lot size.
Thanks
I'm curious to know your definition of a pip. As far as I know, a pip is a measure of movement, not a measure of profit.
  • #7
  • Sep 5, 2008 12:16pm Sep 5, 2008 12:16pm
I have mixed feelings about this.I'm not interested in the system, just stumbled over the post, but hms, why would you want people to email you in order to receive the MT4 templates? You could just attached them to this thread if you wanted to share them for free.

If you do not give them out for free and this is the reason you want to be emailed, I must warn you that promotional activity is not allowed here and you will most likely be banned if you do try to sell something.

Sorry if this sounds paranoid, but we frequently get spammed with offers of "magnificent" forex related things, many times quite costly.

Quote
I'm curious to know your definition of a pip. As far as I know, a pip is a measure of movement, not a measure of profit.
Lol, I have to confess that I don't really understand what's the big difference about people recently arguing about this.Are you saying that there are negative pips as well? Because if you don't, profit in pips and profit expressed in percents mean mostly the same thing. It's just that everyone has a preference towards one, it doesn't mean the other is incorrectly used.
  • #8
  • Edited 12:41pm Sep 5, 2008 12:20pm | Edited 12:41pm
Not to negate the original poster.... BUT....

his template is specific to timeframe and not to the pair....

Surely, as a law professional, you concede that all pairs have different characteristics, and one size fits all appears impossible.

perhaps your TPs and SLs give you a "sleight of hand," as hanover says. But from where I'm sitting, I'm not impressed to this point.



And I am very unhappy with the name of this thread. Your self congratulatory nature without any proof of results make this almost laughable. Let's take it one step further.... suppose you trade with an ECN.... are you still trying to BEAT THE BROKER. It's ridiculous.
  • #9
  • Sep 5, 2008 12:36pm Sep 5, 2008 12:36pm
Quoting tenantro

Lol, I have to confess that I don't really understand what's the big difference about people recently arguing about this.Are you saying that there are negative pips as well? Because if you don't, profit in pips and profit expressed in percents mean mostly the same thing. It's just that everyone has a preference towards one, it doesn't mean the other is incorrectly used.
It's quite possible to have negative pips. It's movement in the direction opposite your trade.

I'm pretty anal about this definition for this primary reason:

A pip is defined simply as the smallest unit of change in a given instrument. Profit is defined as the lot size times the pip movement.

People have this unfortunate tendency to use them interchangeably.

Real life example:

Let's say you and four friends get in a car and drive 100 miles.
Consequently, you open five trades at the same price, and close them at the same price.

Do you mean to tell me that you and your friends drove 500 miles?

I would hope not.

Therefore, your trades only moved 100 pips, not 500 pips as many others like tot believe.
  • #10
  • Sep 5, 2008 12:43pm Sep 5, 2008 12:43pm
It absolutely doesn't.... unless you are a fixed lot size where trading 1 pip equals one percent of the original account balance for every single trade. Otherwise, the differences are likely huge.

Quoting tenantro
Because if you don't, profit in pips and profit expressed in percents mean mostly the same thing.
  • #11
  • Sep 5, 2008 12:46pm Sep 5, 2008 12:46pm
Let's not kill the thread until the author has said his word.
Then you guys shall beat either the broker or the author, if that's your choice.


Lietuve
  • #12
  • Sep 5, 2008 12:57pm Sep 5, 2008 12:57pm
Quoting lietuve
Let's not kill the thread until the author has said his word.
Then you guys shall beat either the broker or the author, if that's your choice.


Lietuve
Can't understand the reaction! Give the guy some space. This strategy is sound, as you will discover. And pls note that I have no connection with the author of this thread.

Pardy
  • #13
  • Sep 5, 2008 1:06pm Sep 5, 2008 1:06pm
lol at tdion and ronald raygun. i just love it when someone completely misses the point.

they do mean the same thing actually, no matter which one is used.it means the system is quite profitable and that it could be made more/less profitable depending on how much appetite for risk someone has.
you're both on my ignore list now btw.
  • #14
  • Sep 5, 2008 2:05pm Sep 5, 2008 2:05pm
sweeeeeeeeet! and i love ignorant comments from newbies....

if you choose to "unignore" and get some truth, you'll see that you can have a negative percentage gains with positive pip totals.


Hey Ronald: Doesn't "tenantro" look an awful lot like "temper tantrum?"

Quoting tenantro
you're both on my ignore list now btw.
  • #15
  • Sep 5, 2008 2:08pm Sep 5, 2008 2:08pm
you been trading it for awhile? the entire 5 hours it has been published?

Quoting Pardy
This strategy is sound, as you will discover.
  • #16
  • Sep 5, 2008 2:50pm Sep 5, 2008 2:50pm
Quoting tdion
you been trading it for awhile? the entire 5 hours it has been published?
I am familiar with the basic strategy, there are minor differences here on settings perhaps, you would do well to read this thread when hemal posts further. I suppose u could describe this as an adaptation of the original.

I too have gone through umpteen threads on ff and other forums, have looked at all kinds of indicators, basically what every newbie does. There are perhaps three I have found to be useful for trading. This strategy is definitely one of them, another is using s/r on the 1 hr t/f, and the use of trendlines.

So, be patient, and I think you will be rewarded.

Kind Regards

Pardy
  • #17
  • Sep 5, 2008 3:38pm Sep 5, 2008 3:38pm
Quoting tdion
sweeeeeeeeet! and i love ignorant comments from newbies....

if you choose to "unignore" and get some truth, you'll see that you can have a negative percentage gains with positive pip totals.


Hey Ronald: Doesn't "tenantro" look an awful lot like "temper tantrum?"

And I thought I was the immature one on this forum.
  • #18
  • Sep 5, 2008 5:46pm Sep 5, 2008 5:46pm
Quoting Ronald Raygun
I'm curious to know your definition of a pip. As far as I know, a pip is a measure of movement, not a measure of profit.
Ronald..
Yes technically you are right, pip as defined as the percentage in points and it is the price move. No arguments there. Not as a justification, most traders mistakenly equates this to the profit including myself. I always have this notion that the term combine pips is being equated to the profit. You would normally hear in promotional term that a certain firm has a combine experience of 100 years despite its existence for only 10 years, what it means is they combine the individual experiences totaled to 100 years. In similar token, mistakenly combine the move of individual trades as the total pips. I will correct that from now on and thanks for pointing that out.

Quoting Hensby
Yep I would like you to explain how you trade this. 1000 pips a month thats a lot.

The other method is to trade a lot of winning pairs simultaneously. I normally do this because I am using the MultiCurrencies Strategy which trade 13 pairs simultaneously.
  • #19
  • Sep 5, 2008 6:23pm Sep 5, 2008 6:23pm
Another system on FF; looking forward to it and interested to see how it develops.
  • #20
  • Sep 6, 2008 10:02am Sep 6, 2008 10:02am
well well, I seam to have got a few backs up. The way I see it is there will always be cynical people, those who do not understand and appreciate the concept of sharing ideas and meeting new people. I'll reply to each post individually.

H
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