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  • #5,101
  • Nov 1, 2008 4:33pm Nov 1, 2008 4:33pm
Quoting aarangio
Hi ya Hendrix..

Is this 40 pip trailing stop working really well then??....have you tried placing a stop at the bottom of the bar before or second bar before if going long??..

I was just wondering on your post earlier nothing was mentioned of Pivot Points and i'm sure I read it some where else before that the big institutions use them..would you know if this was mentioned before by someone that they do use them a lot?..

Thanx once again Hendrix if you can help on any of this..

Adrian
Hi again, Adrian!

Yes, it works for me. It probably isn't the optimal strategy for everyone, but I like it and it takes all the couldas, wouldas and shouldas out of my trading. I simply open a trade with a 40 pip TSL and then I act like an astronaut - I lean back and enjoy the ride. I made sure I played my edge and now there is nothing I can do. The market will do what it wants to do and I leave my trade to play itself out.

I traded like this before (with a TSL), as you might have seen on Jacko's thread (I remember you there) and while I was profitable, there were too little trading opportunities presented for my "needs". That is why I came here. (btw, these two gentleman - BRV and Jacko - are the finest teachers I ever had the privilege to study and without them I'd most probably be just another FX looser...).

I don't know if institutions use pivot points, but before discovering Jacko, I was planning to use them. After Jacko told me that he doesn't care about PP's, I didn't care either.
  • #5,102
  • Nov 2, 2008 2:39am Nov 2, 2008 2:39am
Hello,

I understand there are differences between interest rates provided by banks in different countries. I also understand there are profit possibilities in this. I also think I understand that if US equity markets are doing well, "jpy gets bid" so everything that ends with JPY is flying high. And when Dow Jones or S&P falls, everything that ends with JPY is on freefall. So if "intestors are willing to take more risk" then JPY pairs are heading north.

Now I don't exactly understand one thing - why is that? What has JPY to do with risk?
forget about tomorrow, just steal away into the night
  • #5,103
  • Nov 2, 2008 2:43am Nov 2, 2008 2:43am
Quoting spekitox
Hello,

I understand there are differences between interest rates provided by banks in different countries. I also understand there are profit possibilities in this. I also think I understand that if US equity markets are doing well, \\"jpy gets bid\\" so everything that ends with JPY is flying high. And when Dow Jones or S&P falls, everything that ends with JPY is on freefall. So if \\"intestors are willing to take more risk\\" then JPY pairs are heading north.

Now I don't exactly understand one thing - why is that? What has JPY to do with risk?
Hi spekitox,

BRV explains this here : http://www.nobrainertrades.com/2008/...damentals.html
(See the top row on his Correlations table ... it is because of the v.low JPY interest rate, I think :-)

also...

This and the next few videos are pretty good: http://www.informedtrades.com/25425-...-part-1-a.html
PS - I only posted this link as BRV has already recommended this guy's stuff
  • #5,104
  • Nov 2, 2008 5:58am Nov 2, 2008 5:58am
BRV

You have created an excellent thread here. Over the years I have casually read through threads on the various trading forums. Almost all of them are rubbish. This Friday I stumbled on your thread and was shocked at the quality of your posts. Its quite obvious you are a quality trader. I'm excited about the opportunity to interact with you through this medium you have created. It appears some other good traders have also come on-board as well.

My tactical entry triggers seem to be extremely similar to the methodology you have put forth. Where I diverge from you is more in the realm of strategy. I call my method conditional analysis. I use some proprietary techniques to determine what is the condition of the market. Once the condition is determined, I can then execute the plan of action for that specific condition. In other words each condition has a different plan.

I'm looking forward to next week so I can share some charts with you and some of the other traders. I'm pretty sure I can learn a few new things.
  • #5,105
  • Nov 2, 2008 6:52am Nov 2, 2008 6:52am
Hey i couldnt understand BRVs approach to fundamentals.
Actually i didnt know much market definitions. So i did some basic reading in wikipedia.

I still have two basic doubts.
1) Wikipedia says stock market is also called equity market .....So wats the difference bw Stock market crash and equity crash . ?

2) How am i supposed to know when the majority of the options are going to expire ?
  • #5,106
  • Nov 2, 2008 7:37am Nov 2, 2008 7:37am
Quoting BillyRayValentine
Here's some more stuff for today - happy Friday! By the way, end of the month today be careful out there!

====================================

Its easy to forget what makes us money sometimes. Profitable traders, and non profitable traders alike, go through phases where they oftentimes forget what it was they did when they were making money.

We get into grooves, and start to get comfortable in our routines. The level of comfort, though instantly gratifying, can cause us to turn our winning streaks right around into much worse, devastating losing streaks.

As traders, we have to stay on our toes. We can’t afford to let our levels of comfort get the better of us, as one bad trade managed...
BRV, another great post! After 3 years of trading, it finally dawned on me that I was always placing the reward above the risk. It's NOT A BAD thing to think of risk FIRST and place the emphasis on it instead.Of course, Keep a positive mindset about your analysis, your ability and your confidence as a trader, but you are dealing with a large market that you have no decision in moving. When you play a sport, especially an individual sport, you can really practice to get your skill level to a very high and sometimes near flawless state.You are the one in control. With the market, you can only do that until you place a trade then all of the bets are off. It's like being in a team sport and you are the captain. You practice a play every day going over the play, the placement of the othe players, what the other team is likely to do etc. Then one day, the play has to be called in a game situation. The thing is, you aren't the one taking the shot, it's your teamate. You pass the ball to them when the play is called at the last minute of the game and then it's out of your hands. You can't know whether they are going to make the shot or not, you can only now watch. The probabilities are in your favor but there is a chance it won't go in. Either you win or lose. That's what you must do in trading. Put as many odds in your favor as you can.

  • #5,107
  • Nov 2, 2008 8:54am Nov 2, 2008 8:54am
Quoting hendrix
Hi again, Adrian!

Yes, it works for me. It probably isn't the optimal strategy for everyone, but I like it and it takes all the couldas, wouldas and shouldas out of my trading. I simply open a trade with a 40 pip TSL and then I act like an astronaut - I lean back and enjoy the ride. I made sure I played my edge and now there is nothing I can do. The market will do what it wants to do and I leave my trade to play itself out.

I traded like this before (with a TSL), as you might have seen on Jacko's thread (I remember you there) and while I was profitable, there were too little trading opportunities presented for my \"needs\". That is why I came here. (btw, these two gentleman - BRV and Jacko...
Hi ya Hendrix,

Thanx once again for your help and insight on my questions..much appreciated ..

Adrian
  • #5,108
  • Nov 2, 2008 10:15am Nov 2, 2008 10:15am
Hi everybody ....
BRV tells to use the basic techniques which are mostly used by banks so that we can remain on the safer side ....

I suggest that one more technique will work. That is Elliot wave analysis. Though I didnt trade on Friday, I saw many wave patterns aftermath, which could have easily added another approx 800 pips to the basket.

Too bad i didnt trade them .
  • #5,109
  • Nov 2, 2008 10:50am Nov 2, 2008 10:50am
Hello evryone,
I was wondering if BRV or any of you out there could help me with what I am seeing on this chart.This chart is the last example on BRV last video on breakouts.It was said the price should build up anticipation for a good breakout.Well to me it seems to do that here.Also seems to have a pretty decent history of both support and resistance.What is this trade lacking to be a good breakout trade?Thank you all for your help.
Attached Image (click to enlarge)
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  • #5,110
  • Nov 2, 2008 10:52am Nov 2, 2008 10:52am
Quoting avi007i
Hi everybody ....
BRV tells to use the basic techniques which are mostly used by banks so that we can remain on the safer side ....

I suggest that one more technique will work. That is Elliot wave analysis. Though I didnt trade on Friday, I saw many wave patterns aftermath, which could have easily added another approx 800 pips to the basket.

Too bad i didnt trade them .
Different people indentify different wave counts.Main focus is to see the obvious what everyone else sees.
  • #5,111
  • Nov 2, 2008 11:12am Nov 2, 2008 11:12am
Quoting jlmac27
Different people indentify different wave counts.Main focus is to see the obvious what everyone else sees.
I agree, 25 Elliott Wave experts will give you 25 different wave counts. It's very subjective and i don't think this excellent thread needs leading down that path!!

M
  • #5,112
  • Edited 12:07pm Nov 2, 2008 11:46am | Edited 12:07pm
Quoting avi007i
Hey i couldnt understand BRVs approach to fundamentals.
Actually i didnt know much market definitions. So i did some basic reading in wikipedia.

I still have two basic doubts.
1) Wikipedia says stock market is also called equity market .....So wats the difference bw Stock market crash and equity crash . ?

2) How am i supposed to know when the majority of the options are going to expire ?
Stock = equity.

You might want to think about picking up an intro to investments/finance book if you are going to seriously trade. The markets are so interrelated, I can't imagine being able to trade without knowing what equities means.

You could definitely pick one up for cheap on amazon, or check out your local library.

As for options expiration, search google. There are plenty of calendars.
  • #5,113
  • Nov 2, 2008 1:12pm Nov 2, 2008 1:12pm
Quoting mp777
I agree, 25 Elliott Wave experts will give you 25 different wave counts. It's very subjective and i don't think this excellent thread needs leading down that path!!

M
Oh so true mp777 ... I have only just started get Elliott Wave out of my head, so please let's keep it out of this thread
  • #5,114
  • Nov 2, 2008 1:39pm Nov 2, 2008 1:39pm
Most of the options expire on Saturdays .
So we will have to watch out to see their effects on Mondays ?
  • #5,115
  • Nov 2, 2008 3:23pm Nov 2, 2008 3:23pm
BRV and Birt.

how do you use Ross stuff? A couple of years ago there was someone teaching only trades like BRV style in anohter forum. By the time i was testing it i found pullback on S&R to be the opossite of Ross teachings. Many times a 123 is broken and a few pips after this break there is a S&R.

i tried to use Ross stuff but after years years stuing it i the R:R was never good.

if both you could give examples.

thanks in advance.
  • #5,116
  • Nov 2, 2008 3:32pm Nov 2, 2008 3:32pm
Quoting Guerrillawar
BRV

You have created an excellent thread here. Over the years I have casually read through threads on the various trading forums. Almost all of them are rubbish. This Friday I stumbled on your thread and was shocked at the quality of your posts. Its quite obvious you are a quality trader. I'm excited about the opportunity to interact with you through this medium you have created. It appears some other good traders have also come on-board as well.

My tactical entry triggers seem to be extremely similar to the methodology you have put forth. Where I diverge from you is more in the realm of strategy. I call my method conditional analysis. I use some proprietary techniques to determine what is...
Hi Guerrillawar,

Welcome to the thread.

I am sure we all look forward to your input and posts.
  • #5,117
  • Nov 2, 2008 6:32pm Nov 2, 2008 6:32pm
Quoting giraia_br
BRV and Birt.

how do you use Ross stuff? A couple of years ago there was someone teaching only trades like BRV style in anohter forum. By the time i was testing it i found pullback on S&R to be the opossite of Ross teachings. Many times a 123 is broken and a few pips after this break there is a S&R.

i tried to use Ross stuff but after years years stuing it i the R:R was never good.

if both you could give examples.

thanks in advance.

I do not think BRV uses any Joe Ross stuff, or if he does he has not mentioned it. I personally use it on lower time frames (1m/5m) for entry signals from support and resistance and have an idea of where we are on higher time frames as it is a good indication of where group of stop orders are placed. I agree about the R:R on the Ross techniques not being very good, but I know some people do use it with success. If you trade the breakouts from the pointy places as he does, you're always going to be arriving at the party late, and if price retraces back to or beyond that pointy place (which could well just be a regular retracement before continuing), you're either going to get stopped out at break even or have to live with some drawdown. Neither of those scenarios appeals to me particularly.

I made myself a rule some time ago that I would only take trades from support and resistance on higher time frames, which keeps the R:R at a reasonable level, and by studying the price action on lower time frames I can get something out of the trade the majority of the time. If the trade decides to run from there then I'm in there from the start, not jumping on board a couple of stations down like the indicator crew or the breakout posse. Of course, there may be opportunities to get in extra positions later on pullback to support/resistance (which is essentially the same thing but on a lower time frame).

I think it was Sam Seiden or another trader of the school of S&R who summed it up best - that the only way you can make money on a trade is if people are willing to get in the same trade as you but at a worse price.
  • #5,118
  • Nov 2, 2008 7:24pm Nov 2, 2008 7:24pm
thanks for reply Birdt.

BRV said some pages ago that his style was more Demark and Ross. So i want to know how he uses Ross stuff.

if i understand waht you do, you don't enter with limit orders at the no brainer point, you wait at least for a 123 in the 5 or 1 min. Is it correct?

and you look at the higher tf to see the bias. For example are you waiting today to be the beginning of the 3 so you only take buys. Correct?

best regards.
  • #5,119
  • Nov 3, 2008 1:11am Nov 3, 2008 1:11am

What is the best way to detect support and reistencia:::?

  • #5,120
  • Nov 3, 2008 1:38am Nov 3, 2008 1:38am
Quoting Acer

What is the best way to detect support and reistencia:::?

http://www.forexfactory.com/showthread.php?t=86429
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