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  • #98,201
  • May 20, 2009 10:36am May 20, 2009 10:36am
Quoting wbh
no. forexnewgirl, has used same call as a pay for website i use.
unless you are the man himself (doubt it) you are looking silling.
You mean ALGforex.com
No I do not need more, after 4 month I can do buyself, without loosing 1 pip.
It means I did learn, how it works.
  • #98,202
  • May 20, 2009 10:36am May 20, 2009 10:36am
Quoting stallionez
Notch: Sorry, but my PM doesnt seem to be working.

I use market matrix which is a cycle based theory based on different repeating time cycles. They are usually fairly accurate, and these give me the heads up when the trend is due to change. i have refined it further by using some indicators on 4H charts.

I am not punting anything but Steve Copan has a website which is worth checking out. i hope i dont run the risk of violating the rules on this board.


http://www.themarketmatrix.co.uk/
Can you post a chart?
  • #98,203
  • May 20, 2009 10:37am May 20, 2009 10:37am
retrace 13750 then create a channel there untill some news
  • #98,204
  • May 20, 2009 10:39am May 20, 2009 10:39am
Quoting FXexpress
Its just a generalization. No wick to wick. I tend to stress that everyone tries to make this harder than it really is. So what I do will look a little differant than you are used to so bear with me. I don't look at news releases, I dont look at news events. I trade what the market gives me. A lot of people will try to trade the news releases, but years of experience tells me to wait for the direction. Trend and entry, trend and entry. Like now, I wait for this flag and enter on the break with the trend. I hope I explained it good enough for you....
Yes, thank you very much for sharing your knowledge.
  • #98,205
  • May 20, 2009 10:40am May 20, 2009 10:40am
Quoting cammomile
How do you draw the flags? I noticed that the first (bottom) one measures the wicks and the other two do not. Also, is the angle of each flag important?
The angle is not important.
Attached Image
  • #98,206
  • May 20, 2009 10:41am May 20, 2009 10:41am
I will try and get one uploaded for you in a short while

i had last Monday as a matrix cycle low and the next high is due Monday 25th May, although it could possibly come in late Friday 22nd May. The bigger timeframe is up, which has just been confirmed as we broke the high on 13th May which was the last matrix high point.

I am not looking to short this market, but would look to buy on dips when i get confirmation on 4H or even 1H charts.
  • #98,207
  • May 20, 2009 10:42am May 20, 2009 10:42am
Newbie question. On a $5000 acct I am trading at $10 a pip. Too much risk??
Thanks
Mombone
  • #98,208
  • May 20, 2009 10:45am May 20, 2009 10:45am
Quoting Mombone
Newbie question. On a $5000 acct I am trading at $10 a pip. Too much risk??
Thanks
Mombone

How many pips is your usual stop-loss?
  • #98,209
  • May 20, 2009 10:47am May 20, 2009 10:47am
Varies but around 25. I'm scalping now looking for 10-15 pips

Thanks
Mombone
  • #98,210
  • May 20, 2009 10:50am May 20, 2009 10:50am
Quoting Mombone
Varies but around 25. I'm scalping now looking for 10-15 pips

Thanks
Mombone
I'd trade no more than $1 per $2500 if I were you. If you're doing the right things your account size will soon grow and so will your position size. Dude, make yourself earn the right to trade size.
  • #98,211
  • May 20, 2009 10:51am May 20, 2009 10:51am
Quoting Mombone
Newbie question. On a $5000 acct I am trading at $10 a pip. Too much risk??
Thanks
Mombone
too big your bet size. Half of that and be sure you take smaller losses than 20 pips (of course you need sometimes a 20 pip initial SL, but move it in as soon as some profit gained)
  • #98,212
  • May 20, 2009 10:52am May 20, 2009 10:52am
Quoting Mombone
Newbie question. On a $5000 acct I am trading at $10 a pip. Too much risk??
Thanks
Mombone
Hey Mombone,

According to most standards on this board, yes that is too much risk. Most people will tell you that you should risk 1% of your account on a trade. 1% would be $50. Which means your SL will have to be -5 pips for a standard lot at $10/pip

I have had no success with 5 pips of SL.

So if you enter a bad trade and set a SL for 50 pips, that would be -500 to your account which is 10%

which goes to imply that you might have to adjust lot size down once you have a drawdown of $500, which means now you need more pipage to get back up to $5K

Just my 2c.
  • #98,213
  • May 20, 2009 10:53am May 20, 2009 10:53am
Quoting notch
I'd trade no more than $1 per $2500 if I were you. If you're doing the right things your account size will soon grow and so will your position size. Dude, make yourself earn the right to trade size.
Thanks Notch
Thought I might be a little out of wack there

Mombone
  • #98,214
  • May 20, 2009 10:56am May 20, 2009 10:56am
Quoting Atlast
too big your bet size. Half of that and be sure you take smaller losses than 20 pips (of course you need sometimes a 20 pip initial SL, but move it in as soon as some profit gained)

Cycle is at .0005 and falling fast. Should it cross zero I'll be going short - after today's gaff I will follow EVERY signal even if it is out of wack with the technicals, gut or anything else. But if it bounces off zero it could be time for trend continuation.
  • #98,215
  • May 20, 2009 10:58am May 20, 2009 10:58am
Quoting FXexpress
You and only a couple others seem to take me seriously. I am deadly serious when I am talking about trading. I DO NOT GUESS. Make good decisions do to charting and thats the whole ball of wax.

MK
I took you seriously. I just don't know the Japanese candle patterns well enough yet to identify them without help. Wishing I did, cuz I'd be in the money with you. I took 3 pips out out the rebound from the run-up, but got none of the run-up.

Now I know what I need to focus on the rest of the week.
  • #98,216
  • May 20, 2009 10:58am May 20, 2009 10:58am
Thanks to everyone. Been following this thread for quite some time. Impressed with how insightful everyone is and how willing to help.

Mombone
  • #98,217
  • May 20, 2009 10:58am May 20, 2009 10:58am
Ok, my thinking now is this will probably come all the way back to test the weekly high at 1.3738 and intersection of the trendline, ( X ). This is not such a bad thing because if it looks like it wants to create a double top or even break thru we got that much more to trade with the trend. We can also look for the headfake filter to enter with a very small stoploss.

MK
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  • #98,218
  • May 20, 2009 10:59am May 20, 2009 10:59am
Quoting notch
Cycle is at .0005 and falling fast. Should it cross zero I'll be going short - after today's gaff I will follow EVERY signal even if it is out of wack with the technicals, gut or anything else.
Notch, are you going to trade this only based on the cycle or using the cycle as confirmation or as a trigger when setup is reached. I would be wary taking all trades based on just 1 signal. The trend is still up, so be careful. I'm thinking the high may be in for the day. I need some more confirmation to be sure.
  • #98,219
  • May 20, 2009 10:59am May 20, 2009 10:59am
Were cool ole buddy. Anything you need, just give me a hollar.

MK

Quoting bagoomba
I took you seriously. I just don't know the Japanese candle patterns well enough yet to identify them without help. Wishing I did, cuz I'd be in the money with you. I took 3 pips out out the rebound from the run-up, but got none of the run-up.

Now I know what I need to focus on the rest of the week.
  • #98,220
  • Edited 11:07am May 20, 2009 11:04am | Edited 11:07am
Quoting Atlast
Notch, are you going to trade this only based on the cycle or using the cycle as confirmation or as a trigger when setup is reached. I would be wary taking all trades based on just 1 signal. The trend is still up, so be careful. I'm thinking the high may be in for the day. I need some more confirmation to be sure.

Based on the cycle as the signal. I know what you mean but it is producing high accuracy signals. I'm getting in the move right at the beginning of the move 9 times out of 10. And when I'm wrong the loss is insignificant. The only thing that is getting in the way of easy pippage is me double guessing and having doubts. I'm still trading small positions so any damage will be minimal but if it is still working in 2 months I'll exploit it BIG TIME.

I'm actually struggling to remember a time when it didn't give the opportunity to get into the move then move the stop to B/E.
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