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Silent Service Method

  • #1,641
  • May 26, 2009 3:59pm May 26, 2009 3:59pm
I am in this trade. Fired off via cell phone at work. I placed this order 30 feet in the air. I would like to see at least 1.08, if not 1.06.
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  • #1,642
  • May 26, 2009 4:04pm May 26, 2009 4:04pm
Quoting clockwork71
I am in this trade. Fired off via cell phone at work. I placed this order 30 feet in the air. I would like to see at least 1.08, if not 1.06.
Nice...another trade in the direction of the trend. If you can work that well from 30 feet in the air, just imagine the possibilities at 60 feet...... I am thinking early retirement at the very least
  • #1,643
  • May 26, 2009 4:04pm May 26, 2009 4:04pm
Quoting Dropped Onion
Hi CW,

if you have time or the inclination could you post a brief chart of your recent cable trade with a couple of reasons you took a long position? Looked like a breakout of the 1.5350 highs and move above important weekly Pivot Zone. Thanks!


i have been getting into more counter trend trades over the last month or so. some worked some did not. I feel it is important to place more emphasis and conviction on trend trades (age old truism) as you have that natural flow of order in your direction helping out.
I know you have a set target on counter...
You should always go with what makes you more comfortable. However, try this: Try FORCING YOURSELF to go with a trend-trade, and FORCING YOURSELF to let it run. Simply ignore the damn thing.

A funny thing happens. You finally check on the trade, and you are up more pips than you have ever had before.

Here's the GBP trade I think you are referring to.....
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  • #1,644
  • May 26, 2009 4:17pm May 26, 2009 4:17pm
Quoting sundog
Yep I went back to the beginning and re read it, as you know, you are correct My brain got adled by the 100+ pages (my excuse and im sticking to it )

My time frame can go back much further, I thought 5 was enough.

Thanks for your inputs, much appreciated.
No worries, took me a while to get my head around the whole thing. Glad I took the time to read it all though as there are some gems in here to be mined.
  • #1,645
  • May 26, 2009 4:20pm May 26, 2009 4:20pm
Quoting clockwork71
You should always go with what makes you more comfortable. However, try this: Try FORCING YOURSELF to go with a trend-trade, and FORCING YOURSELF to let it run. Simply ignore the damn thing.

A funny thing happens. You finally check on the trade, and you are up more pips than you have ever had before.

Here's the GBP trade I think you are referring to.....
Thanks for the feedback CW. I will be letting a trend trade run when I see one.
  • #1,646
  • May 26, 2009 4:26pm May 26, 2009 4:26pm
Quoting clockwork71
I have been watching this one for a long time now.....patience is the key. This COULD be one of those trades that makes a good two months in one shot.
You're making sense again CW, I really like the look of that chart and your analysis of it. I've got the triangle drawn on my chart too but hadn't zoomed out to see the bigger picture (d'oh!).
  • #1,647
  • May 26, 2009 4:47pm May 26, 2009 4:47pm
Quoting nomask
before i started this thread i was at break even level of my trading journey...
i was winning,losing but at the end i was always break even with my capital..
anyway now its been a month since I've modified my trading style through this thread...
may be its not such a brilliant result but seems like i had my first real step forward after all this time...when i look at my results i know what part of my trading style (i should let profitable ones run more)i should improve and study but again good start of being profitable..
-----------------
no. of...
If you think about all the time you spent reading books about forex and every dodgy system you bought or read about you could probably apply all of those key phrases to this method.

What about... Let your profits run and cut your losses short...

Or, Don't step in front of a moving freight train, don't swim against the tide, don't trade against the trend in other words...

I've encountered really good advice in books before and you can get this stuff from anywhere but it's not until you find a method that works for you that any of this stuff actually makes sense or means anything.

It can't be a coincidence that with the application of a simple method and some patience that a lot of people who post on this thread are making regular (if small) gains.

I personally trade a very small account but in percentage terms it is booming. As and when I get the funds to commit to my trading I will do and slowly but surely I am convinced I will make a good deal of money in this game.

This is where the patience will REALLY count!
  • #1,648
  • May 26, 2009 5:06pm May 26, 2009 5:06pm
I haven't posted full charts as otherwise this would take up 2 pages but these are my 2 accounts I am trading at the mo. The first is in Gbp and the second in dollars.

Anyone got any advice as to how best to manage these trades?
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  • #1,649
  • May 26, 2009 5:07pm May 26, 2009 5:07pm
Quoting hel13rock
If you think about all the time you spent reading books about forex and every dodgy system you bought or read about you could probably apply all of those key phrases to this method.

What about... Let your profits run and cut your losses short...

Or, Don't step in front of a moving freight train, don't swim against the tide, don't trade against the trend in other words...

I've encountered really good advice in books before and you can get this stuff from anywhere but it's not until you find a method that works for you that any of this stuff...
I was in the same boat bud, people called me dumb and said I was wasting time when I was trading with a $8 account...yes $8. I didn't mind though since during those two months I made consistent trades with low DD that resulted in over 35% on the account, and I knew that's how I was supposed to trade to begin with. Since then I've slowly started adding funds so I was comfortable with the increases and along with the capital increases my profits have increased as well. Sadly it's not 35% anymore since that was a very favorable time for my calls but I'm up more than 10% in less than two months with substantial amount of $ and adding capital slowly from each paycheck. I thought this through before I did it and found it to be very stress less so more power to ya!
  • #1,650
  • May 26, 2009 5:13pm May 26, 2009 5:13pm
Quoting jonaslt
I was in the same boat bud, people called me dumb and said I was wasting time when I was trading with a $8 account...yes $8. I didn't mind though since during those two months I made consistent trades with low DD that resulted in over 35% on the account, and I knew that's how I was supposed to trade to begin with. Since then I've slowly started adding funds so I was comfortable with the increases and along with the capital increases my profits have increased as well. Sadly it's not 35% anymore since that was a very favorable time for my calls but...
I have gone down a similar route... I was trading with real money from the start but not such a huge amount that I couldn't afford to lose it (heard that phrase anywhere else too?).

I think it's just a matter of time, if you follow your plan and have some faith in yourself as a trader eventually experience will kick in and make good all or most of your shortcomings.
  • #1,651
  • May 26, 2009 8:47pm May 26, 2009 8:47pm
Hello All!

Since it's my first post() I would like to say a BIG THANK YOU to the dear Mr.Clockwork for this thread.I consider myself pretty much lucky to find such informative and I believe correct way to look at the market - as it is.And not through some 6 or 8 indicators which at the end tend to bend the view(like the mirrors in some Wonderland:nerd:blush: And I've been swimming in the forex market just only for a month and demo playing with various "strategies" which basically told you "when x crosses y,you have to buy",plus I have a friend of mine whos in the fx for almost a year now,and still can't figure out that "perfect strategy" and I see which way he's going.... blinded by the light of the indicators,when we meet (about once a week) everytime he has a "new one" or should I say "one and only,as promised land".I tried to explain him that daily charts a more easier to trade than M5,M15.but his only reply is that you have to put a huge SL,and basically he thinks its more wise to risk six trades with SL~25 (TP10-25)than one trade whic is 150SL and lets say 250TP.But oh well.......
Thanks Clockwork again for this amazing thread.My eyes feel a bit like sun dried tomatos after reading whole thread through Memorial weekend.
I added a pictures of my first trade this week(demo) on GBP/JPY,well I think I lacked some patience and rushed the entry,but I guess I will be ok,just the 200SMA gets on my nerves a little(added it after I executed the trade).

P.S. I hope you'll understand it all,'cause english isn't my first language.
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  • #1,652
  • May 26, 2009 9:10pm May 26, 2009 9:10pm
Quoting NikolasII
Hello All!

Since it's my first post() I would like to say a BIG THANK YOU to the dear Mr.Clockwork for this thread.I consider myself pretty much lucky to find such informative and I believe correct way to look at the market - as it is.And not through some 6 or 8 indicators which at the end tend to bend the view(like the mirrors in some Wonderland:nerd:blush: And I've been swimming in the forex market just only for a month and demo playing with various "strategies" which basically told you "when x crosses y,you have to buy",plus I have a friend...
You're welcome partner!
  • #1,653
  • May 27, 2009 2:21am May 27, 2009 2:21am
eurjpy seems interesting at this time..
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  • #1,654
  • May 27, 2009 2:39am May 27, 2009 2:39am
Quoting jonaslt
I was in the same boat bud, people called me dumb and said I was wasting time when I was trading with a $8 account...yes $8. I didn't mind though since during those two months I made consistent trades with low DD that resulted in over 35% on the account, and I knew that's how I was supposed to trade to begin with. Since then I've slowly started adding funds so I was comfortable with the increases and along with the capital increases my profits have increased as well. Sadly it's not 35% anymore since that was a very favorable time for my calls but...
i have a friend who started trading almost same time with me...he started with 50k on stock market and i started with 1000 usd on forex...
he always made fun of me playing for 5-10 usd..and everytime i was trying to tell him that the amount of money didnt matter to me i only care about percentage and by doing that i wouldnt be risking too much money to find out something..although i made my capital 1.500 within the first 10 days i realised that i was just lucky not a professional to make consistent profit..so i took my 1.000 back and kept trading with that 500 profit for almost 8 months...first 4-5 months i lost half of that money,200 or something..(but remember it was already my profit)
so now he is someone lost 40k of his money during that time and i didn't lose anything yet...he stopped trading and i'm still in the game...
  • #1,655
  • May 27, 2009 3:03am May 27, 2009 3:03am
hel13rock, jonaslt, nomask,
keep it up!
Patience, discipline, dreams will keep us all in the road to success!
  • #1,656
  • May 27, 2009 3:10am May 27, 2009 3:10am
Hi CW,

The last chart you posted on GU,when price broke 1.5000 you took the trade at the second retrace to the 1.5000 and not the first,normally i would have entered on the first,pls do you have any reason for doing this?thanks for your response.
D labour of a fool wearieth him cos he doesn't know how to enta d city
  • #1,657
  • May 27, 2009 3:21am May 27, 2009 3:21am
Quoting nomask
here is what i think about it...
so i would do nothing with this pair yet but only sit and watch
Hi nomask!
I like the way you draw S and R zones. ¿how are you doing it?
I usually use horizontal lines, but they are a problem when you want to point areas.
Sometimes I use rectangles, but they are a problem when you want to have them very long, from the begining to the end of chart.
A way to paint the area between horizontal lines is great, but can't imagine how you are doing it (except by hand...)
Many thanks!
Trading: the skill of avoiding trades
  • #1,658
  • May 27, 2009 4:27am May 27, 2009 4:27am
Quoting eswap0
Hi nomask!
I like the way you draw S and R zones. ¿how are you doing it?
I usually use horizontal lines, but they are a problem when you want to point areas.
Sometimes I use rectangles, but they are a problem when you want to have them very long, from the begining to the end of chart.
A way to paint the area between horizontal lines is great, but can't imagine how you are doing it (except by hand...)
Many thanks!
i do it by drawing a rectangle, extending it to be as big or small as i want and set the color to blue.

I would bet Nomask is doing the same
"Money is easy to make, but hard to keep" - FWV 1975
  • #1,659
  • May 27, 2009 4:36am May 27, 2009 4:36am
Quoting eswap0
Hi nomask!
I like the way you draw S and R zones. ¿how are you doing it?
I usually use horizontal lines, but they are a problem when you want to point areas.
Sometimes I use rectangles, but they are a problem when you want to have them very long, from the begining to the end of chart.
A way to paint the area between horizontal lines is great, but can't imagine how you are doing it (except by hand...)
Many thanks!
once i determine s/r lines i put the rectangles between those lines on monthly chart that zoomed out ..i also use the "show properties after creation" option on my mt4..i find it very useful when you drawing s/r zones..
..its okay drawing them by hand because this is not an everyday work...all my zones saved as in templates...
  • #1,660
  • May 27, 2009 4:39am May 27, 2009 4:39am
Quoting nomask
"show properties after creation" option on my mt4..i find it very useful when you drawing s/r zones..
Good idea.

Quoting bjohn34
I would bet Nomask is doing the same
You're right.

Thank you both!
Trading: the skill of avoiding trades
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