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  • #661
  • Mar 14, 2009 1:08pm Mar 14, 2009 1:08pm
Expected Value is everything.

Expected Value = (percent winning trades)*(average profit) - (percent losing trades)*(average loss)

Note: The average loss should be a positive number because I already made that term negative with the minus sign.

Expected value is just another way of saying:
Total pips (total gained minus total lost) divided by the number of trades. In other words, average profit.

Bottom line: If you are making money, it's working.
  • #662
  • Edited 6:15pm Mar 14, 2009 1:40pm | Edited 6:15pm
Another live exhibition...
http://www.thedailyshow.com/full-epi...isodeId=220533
  • #663
  • Mar 15, 2009 5:47am Mar 15, 2009 5:47am
Hi all...


I noticed WisdonFX saying..."GJ - PM me ".......why you have a journal...use it...why do people have to PM you when you can just as easy post it on the forum as you do with the others...

I noticed plenty of those Power Levels get pretty close....a few pips (difference could simply be the high , low figures ) to Fibonacci Pivot points.

well for example.... ...PP = 1.2909 R3(100%) fib = 1.2980 , 50% = 1.2944, S1(38.2%)= 1.2882 , S3(100%) = 1.2838

most of these are within a few pips of charted levels.....have not looked at the others and dont intend to...just giving people an idea of what to look at.
  • #664
  • Mar 15, 2009 6:32am Mar 15, 2009 6:32am
Quoting Jwentro
On a 4 hour chart, this candle stick formation should be called one of the following:

A. A Holy Shit I'm Rich Candle


or


B. A Holy Shit I'm Broke Candle


Nevertheless, in hindsight I would have gone long. In reality i may have been short.
I know what you mean - I was short LOL.
  • #665
  • Edited 7:10am Mar 15, 2009 6:55am | Edited 7:10am
Hi all...

Well for someone posting just to keep a record of his trades he sure does like to use the hype..

"im making some serious $ the way i trade off these levels
so far since ive started this journal i have got a 100% success
since last august 2008 i have got over a 95% success rate
i have actually ended up buying a proeprty off the money i have made in last 4 months in 2008. Every 3-4 months of my FX trading i withdraw apporx 35-60% of my profits to invest in anything apart from FX. I have been taught to diversify in my investing and my goal is to make a portfolio of $20 Million."

I dont remember any of this being asked in the question this was a reply to...

He just tossed this in...hahah

He is sounding like another well known Aussie that was claimimg property buying and such,,,when he first started posting here.

So this is a simple question....he has been trading this method since august '08..so why now is there any need to keep a record of the trades in a journal....you have months of results...not posted here...must be another reason beside keeping a record I would think...

And when the name calling and abuse starts....as it has now.....Even more questions need to be asked.
  • #666
  • Mar 15, 2009 6:55am Mar 15, 2009 6:55am
Hi guys,

I just found this thread and was a bit sceptical when I started at page 1 - I thought it was a spoof - LOL.

I was also a follower of Shakes and nearly wasted three days watching his demo, and today I found Wisdoms thread.

Anyways I would just like to thank you guys for this excellent thread - keep it up.

I've added this to my subscribed threads and hopefully it will save me a lot of wasted effort in future.
  • #667
  • Mar 15, 2009 8:01am Mar 15, 2009 8:01am
hi al..


The guy just cant help himself......his thread is just one big promotional journal...

"im just tired of mentioning that these POWER levels are calculated to give the BEST S/R levels to get more the 90% ( if not MORE ) succes in WIN trades to trade bounces off them - hence they are called POWER levels
they are just not any S/R levels- see all the examples i have shared so far and then comment if they appear regular S/R levels !!"

Actually he does not do himself justice.....he has 100% successful HINDSIGHT trades...

For someone tired of mentioning it....he sure does it often enough.
  • #668
  • Mar 15, 2009 8:11am Mar 15, 2009 8:11am
there is some work contribution added by calculating these S/R levels at least right?

whether trading upon each time resistance is being hit is another topic decided by the trader...

a trader needs to know what is % of success trade he could expect for himself... for S/R swing, if I trade S/R >5 times in a narrow window.

MA should cross after a while, and a major market mover will kick a S/R order in big loss soon... so too freq trading on S/R will be dangerous.

however I'm thinking if pick 1 time out of 10 times that a strong resistance was hit for the 1st time, maybe bet on a retrace has a good chance to win.

so the work has some use for reference after all... any I missing anything?

Quoting Angler
hi al..


The guy just cant help himself......his thread is just one big promotional journal...

"im just tired of mentioning that these POWER levels are calculated to give the BEST S/R levels to get more the 90% ( if not MORE ) succes in WIN trades to trade bounces off them - hence they are called POWER levels
they are just not any S/R levels- see all the examples i have shared so far and then comment if they appear regular S/R levels !!"

Actually he does not do himself justice.....he has 100% successful HINDSIGHT...
  • #669
  • Edited 9:14am Mar 15, 2009 8:35am | Edited 9:14am
Hi all..


Billye.....you can have that opinion if you want......But the way I see it is....he wont share his levels ( and thats fine no drama there ) but wants to teach people how to trade his levels.....and if he leaves...so do the levels unless he expects you to follow him....in his own words....his levels are better than all others...so you wont get the same results if not using his levels........it so much sounds like a promotion to me.

He says read his thread and follow his trades...but he leaves so much out about his so called trades...like the 1min/5min work he claims to also use for entries and such....

So in a nut shell....what is he actually teaching you..many people do and have used levels to trade....but I dont think they have 90+% success rates using it...not with the number of so called trades he takes each week..

And I can make up some great reasons why I should not have taken a bad trade after the event...its really easy....but not so easy when actually trading and making that decision on the go....So his reasons for leaving some breaks and not others....easy to explain in HINDSIGHT.

It was mentioned a while back that a day or so of live calls would possibly clear up some things...but it always seems that when someone claims extraordinary trade results they have to be dragged kicking and screaming to make a live call....and they use the normal excusses....Like " I am not here to feed you trades"

One last point...if he had of stopped the hype after the original post..that would have been it, But he has continued all the way through his thread even in the last couple of posts the HYPE continues.....WHY you have to ask yourself if its just to keep a record for himself as he claims.
  • #670
  • Mar 15, 2009 1:21pm Mar 15, 2009 1:21pm
Quoting Angler
Hi all...

Well for someone posting just to keep a record of his trades he sure does like to use the hype..

"im making some serious $ the way i trade off these levels
so far since ive started this journal i have got a 100% success
since last august 2008 i have got over a 95% success rate
i have actually ended up buying a proeprty off the money i have made in last 4 months in 2008. Every 3-4 months of my FX trading i withdraw apporx 35-60% of my profits to invest in anything apart from FX. I have been...
Hey Angler, are you trying to get me in trouble again. LOL. I just posted for the first time in Wisdom's.
  • #671
  • Edited 6:41pm Mar 15, 2009 2:05pm | Edited 6:41pm
Quoting stewrigh
Hi guys,

I was also a follower of Shakes and nearly wasted three days watching his demo, and today I found Wisdoms thread.
I still wonder why they act like this ... :-\
Now Shakesfx is just disappeared, a ban isn't something that really block you posting... you can just register again or ask admins to delete your thread and forgive , at least I would have clarified my position in some way then be gone or remain..., how could it finish like that with a person disappering in the dust after a shamefull webinar?!?!
  • #672
  • Mar 15, 2009 5:32pm Mar 15, 2009 5:32pm
Hi..all..


well the HYPE continues...he just cant help himself..

"i have had 100% success so far in journal on the tradess i have taken ."

not mentioned....ON THE HINDSIGHT TRADES TAKEN...
  • #673
  • Mar 15, 2009 6:52pm Mar 15, 2009 6:52pm
well Angler, you got me in trouble again....wisdom the wonder boy banned me from his thread. This story sounds too familiar. It's obvious he is not trading but just posting hindsight trades. BUSTED. It is now official, WisdomFX is just posting hindsignt trades. There are no power levels, that is why he can't explain how he sets these. I am done with wisdomfx, he is just a boy playing around getting his kicks calling hindsight trades.
  • #674
  • Mar 15, 2009 7:15pm Mar 15, 2009 7:15pm
hi all


Well he said go look at his posting and learn...so I took a look..

First there was a declaration in another post that he had a loss but was part of a scaling in trade...something like that...

Lets see...

from the details provide in his post and charts...the first trade shown on post 143 was 1.2752 @ 14:46 this trade was a loser BUT was not part of any scaling in or anything else...he was trading the level 1.2747...this was just simply a losing Trade.

The second trade 1.2769 @ 15:01 was a good trade and trading the level 1.2767.

The third trade..1.2792 @ 15:58 .trade the level 1.2797...well he shows it by the top red arrow....but by the trade documention shown.....it was actually taken on the next candle (yellow X )and almost at the end of that candle, if that is the case....why was the first break ignored and the second break was also ignored but trade taken after a move down and does this not break a rule of to many close breaks of a line and you have to wait...

So why the push for 100% winning trades when there is obviously a losing trade in there and documented....
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  • #675
  • Mar 15, 2009 7:24pm Mar 15, 2009 7:24pm
I'm a newbie in forex and I think I too have been duped by shakes.

I spent a total of about 15 hours watching his live demonstrations. All he did was nurse a trade he took before the demonstration hours.

I should have found this thread earlier...

Anybody know what Shakes motive was?

It doesn't make sense because he didn't try selling anything. I actually thought he was trying to help newbs out.
  • #676
  • Mar 15, 2009 7:50pm Mar 15, 2009 7:50pm
Quoting clowtee
I'm a newbie in forex and I think I too have been duped by shakes.

I spent a total of about 15 hours watching his live demonstrations. All he did was nurse a trade he took before the demonstration hours.

I should have found this thread earlier...

Anybody know what Shakes motive was?

It doesn't make sense because he didn't try selling anything. I actually thought he was trying to help newbs out.
Why don't you ask him what the motivation was. You were thanking him after the first day of demonstration ended even though as you now say "...All he did was nurse a trade he took before the demonstration hours"...
http://www.forexfactory.com/showpost...postcount=2739
Hmmm? So everything went smoothly with the neat demonstration or was he just nursing a trade?
  • #677
  • Mar 15, 2009 7:57pm Mar 15, 2009 7:57pm
hi all...

Well our man WisdomFX....just uses the same old excusses...."We are begging for live trades......"

He does not get the point that people have many doubts on what he is doing so a couple of days of live trades would clear some of those doubts..

As I mentioned in a previous post...posters that claim extraordinary success have to be dragged kicking and screaming to do a couple of live trades.

WHY IS THAT......
  • #678
  • Mar 15, 2009 8:03pm Mar 15, 2009 8:03pm
Quoting Angler
hi all...

Well our man WisdomFX....just uses the same old excusses...."We are begging for live trades......"

He does not get the point that people have many doubts on what he is doing so a couple of days of live trades would clear some of those doubts..

As I mentioned in a previous post...posters that claim extraordinary success have to be dragged kicking and screaming to do a couple of live trades.

WHY IS THAT......
I don't think that anybody posting there believes him so I am not too interested. LOL, he has zero followers. Not worthy of attention.

Angler and Jwentro, what do you think about this other thread?
http://www.forexfactory.com/showthread.php?t=156769
  • #679
  • Mar 15, 2009 10:19pm Mar 15, 2009 10:19pm
hi...all


well another 2 hindsight trades....wonder if he will continue to lie about the 100% win rate when in his own post he recorded a loss (post 143) and mislead about another trade in that same post...

His credibility on posting the truth has to be called into question ...
  • #680
  • Mar 16, 2009 12:19am Mar 16, 2009 12:19am
Hi all...

so still taking him up on looking at his trades..

Post #28

Trade 1 ..2:22 2.5 lots @ 1.2575

The entry bar shown on the chart with the arrow/number is wrong...it was actually the bar before that one...the trade was probably taken on the first touch of the level and resulted in a drawndown of about 38 pips with the 2 lots..

Again misleading by showing the arrow/number on the wrong bar..

Trade 2...6:09 1.5 lots @ 1.2560

Again the trade is actaully taken on the bar before the one shown on the chart...this one resulted in a 24 pip drawndown with 1.5 lots..

Again misleading by showing the arrow/number on the wrong bar



This is the example of why live trades are needed...to see where the trade is actually entered and any drawndown resulting...
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