Better???
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Trade what you see NOT what you expect
- #7,162
- Apr 11, 2009 12:29am Apr 11, 2009 12:29am
- | Joined May 2007 | Status: Trader | 4,716 Posts
I found two channel drawings ......
A linear regression and a standard deviation, but I can't get them to line up the way I want to.
HOLLA
A linear regression and a standard deviation, but I can't get them to line up the way I want to.
HOLLA
- #7,163
- Apr 11, 2009 12:36am Apr 11, 2009 12:36am
- Joined May 2008 | Status: "One for all, and all for one" | 11,228 Posts
Just digging in the trenches like everyone else!
- #7,164
- Apr 11, 2009 12:42am Apr 11, 2009 12:42am
- | Joined May 2007 | Status: Trader | 4,716 Posts
Check this out bro!
What is the name of that channel you just use???
HOLLA
- #7,165
- Apr 11, 2009 12:45am Apr 11, 2009 12:45am
- Joined May 2008 | Status: "One for all, and all for one" | 11,228 Posts
Just digging in the trenches like everyone else!
- #7,166
- Apr 11, 2009 12:51am Apr 11, 2009 12:51am
- | Joined May 2007 | Status: Trader | 4,716 Posts
Here's an Excel spreadsheet that will help many of you calulate your risk per trade. I don't recommend any set percentage. If you want to change the percentages, the values will adjust to your changes. So if you only want to risk .5%, then you can change one of the other % vales.
Can that be changed???
HOLLA
- #7,167
- Apr 11, 2009 1:00am Apr 11, 2009 1:00am
- | Joined May 2007 | Status: Trader | 4,716 Posts
Here's an Excel spreadsheet that will help many of you calulate your risk per trade. I don't recommend any set percentage. If you want to change the percentages, the values will adjust to your changes. So if you only want to risk .5%, then you can change one of the other % vales.
Can you post and example or further explain???
HOLLA
- #7,168
- Apr 11, 2009 4:31am Apr 11, 2009 4:31am
- | Membership Revoked | Joined Feb 2008 | 9,794 Posts
Check this out bro!
Couple of observations... The 1.5 level is key resistance but I think its been over-used/tested and will fail next time.
Not sure why but my daily pins look different to the posts here??
JMO - what do you guys think??
BTW hope you're all having a great easter.
(is it a bit non-PC to say that given the recent posts from FTA lol
)
- #7,169
- Apr 11, 2009 4:35am Apr 11, 2009 4:35am
- | Membership Revoked | Joined Feb 2008 | 9,794 Posts
Thought I'd ad my thoughts and charts to this discussion - hope you don't mind.
Couple of observations... The 1.5 level is key resistance but I think its been over-used/tested and will fail next time.
Not sure why but my daily pins look different to the posts here??
JMO - what do you guys think??
BTW hope you're all having a great easter.
(is it a bit non-PC to say that given the recent posts from FTA lol
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- #7,170
- Apr 11, 2009 4:37am Apr 11, 2009 4:37am
Hello EO, Infinity and all the other regular contributers, thanks for creating this great thread, I have been following it for a few weeks, trying to read all the posts from day 1.
For some reason my Email account would not receive the confirmation email when you have signed up so i was unable to post, but i have created another account and this one works.
I will try and contribute as much as i can, I live in Australia and still have a regular job that i have to go to
so im mostly on during the london session.
Thanks again EO and everyone else
Keep up the good work
Damo
For some reason my Email account would not receive the confirmation email when you have signed up so i was unable to post, but i have created another account and this one works.
I will try and contribute as much as i can, I live in Australia and still have a regular job that i have to go to
so im mostly on during the london session.Thanks again EO and everyone else
Keep up the good work
Damo
- #7,171
- Apr 11, 2009 7:24am Apr 11, 2009 7:24am
- | Joined Mar 2009 | Status: Trader | 2,768 Posts
You'd be the designated driver then! SWEET! Another beer please!!
- #7,172
- Apr 11, 2009 7:53am Apr 11, 2009 7:53am
- | Joined May 2007 | Status: Trader | 4,716 Posts
Sounds like we have the makings of a golf tournament, I mean a forex seminar.
Golf Tourney.....beer write off!!!
Put it all together and it sounds like a great time.....just say when....I'll be there!!!!
HOLLA
- #7,173
- Apr 11, 2009 8:02am Apr 11, 2009 8:02am
- | Joined Mar 2009 | Status: Trader | 2,768 Posts
FX seminar.....tax write off!!!!!
Golf Tourney.....beer write off!!!
Put it all together and it sounds like a great time.....just say when....I'll be there!!!!
HOLLA
Did you keep your head down with that bad weather yesterday?
- #7,174
- Apr 11, 2009 9:33am Apr 11, 2009 9:33am
- Joined Nov 2008 | Status: Trade Inspiration Not Despiration . | 4,827 Posts
Rules of the Game
charts with bigger MA's are The Best.. Like the HR 62 trade or
HR 200.
2. MA's are Trendlines treat them as such. We are using our MA's as floating
trendlines there are 2 trades we can take of them.
a. Bounces, These are the ones we mainly take. The touch of the
200 ema or the HR. 62 ema . or even the 35 or 50 in consolidation areas
b. Breakouts Are the other trades off our floating trendlines . The first is
not a true breakout trade but normally leads into one. It is our 35/50
cross reverse trade. When one 15 minute candle crosses both those
MA's we enter in the opposite direction on the open of the next
candle. Which is normally a quick trip back down to the MA's. We
then need to watch our entry candle closely as it can give us a
hint as to the next move. This is a time to be a bit cautious as signals
can get confused here. A tighter than normal stop can be considered
here. I went back a good ways and at times a great hammer or
hangman failed to give the results wanted.
3. A failed trade normally leads into your next trade right away.
a. Don't hesitate or you will miss them, Just like the above if your trade
fails on or near our MA's we normally get a second chance to enter as
it will come back and retest the MA's
b. They can be the best trades as it can be a change of trend.
4. Stay Focused Staring at a computer for hours on end may not be good if
you can't see what is in front off you. Take a break from time to time.
Everyone needs to make money and get this down. But you might do
better trading with a clear mind and quality, Than just sitting there in a
fog. So pick some good trading hours and be there a 100%. This is
really important in the beginning. As it becomes more mechanical it
matters less. As you then become the robot you always wanted to be..
5. Verify with Pictures if needed. If you are having a hard time seeing
triggers keep some charts with candlesticks handy to verify them.
6. Do a little prep work prior to trading. Look at your higher time frame
charts for areas of interest trendlines, channels, S/R levels. Then write
them down or better mark them on your trading chart so you don't get
into a trade in a bad area. Higher time charts have stronger areas.
Bigger money trades Bigger time charts, and everyone below trades
them too.
7. Just like sports see the end results in your mind. (Visualization) I am not a
sports nut anymore. I did play a bit of High School football. There is a
funny thing here it is a acceptable and sought after practice to
visualize your final results in sports and they spend a lot of time trying
to train athletes to do this. IE.. see the ball going in the hoop. or in the
hole , or threw the goals. But mention this in the corporate world and
by gosh your a nut. I don't believe that. To have a focused goal or end
result can only be a plus and gives another edge above the rest.
8. Make a affirmation and read it from time to time. A affirmation is nothing
more than a set of goals of what and where you want to get to. Things
such as.
I am a professional trader ,
I know what to look for to enter my trades.
I know when the trade has failed and close it without regret.
I know WHEN I have a nonprofitable trade another one even better than
that one should have been is right around the corner.
I don't rush my entries
i let my good trades make me money by letting them play out.
I know the charts will tell me when to take my profits.
I know that we don't effect the charts with our orders and are only along
for the ride
I know that knowing the above that The best I can do is to
TRADE WHAT I SEE NOT WHAT I EXPECT
9. Be organized Have everything ready to go before you start your trading.
Have your orders setup properly and know how to scale in and out on
your platform. Like any other job having the proper tools at hand makes
it a lot easier .
Happy Easter ,, Feel free to critique... Ken Lee
Now if my grammar was only better .. LOL
Good Trading To All ; Ken Lee
- #7,177
- Apr 11, 2009 10:13am Apr 11, 2009 10:13am
- | Joined Mar 2009 | Status: Trader | 2,768 Posts
A big thanks to Ken for helping me post the chart.
- #7,179
- Apr 11, 2009 5:42pm Apr 11, 2009 5:42pm
- | Joined May 2007 | Status: Trader | 4,716 Posts
It is something we will have to do sometime.
Did you keep your head down with that bad weather yesterday?
Actually the storm passed over while I was online with EO last night, so it wasn't that bad.
Yep a "Trade What You See Not What You Think - FX Seminar/Golf Tourney"!!
HOLLA
- #7,180
- Apr 11, 2009 5:43pm Apr 11, 2009 5:43pm
- | Joined May 2007 | Status: Trader | 4,716 Posts
Rules of the Game
1. Big Numbers, Higher Number MA's are stronger Trades. Plus higher time
charts with bigger MA's are The Best.. Like the HR 62 trade or
HR 200.
2. MA's are Trendlines treat them as such. We are using our MA's as floating
trendlines there are 2 trades we can take of them.
a. Bounces, These are the ones we mainly take. The touch of the
200 ema or the HR. 62 ema . or even the 35 or 50 in consolidation areas
[b]b....
HOLLA