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Help with a system

  • #1
  • First Post: Jul 4, 2009 4:10am Jul 4, 2009 4:10am
Hello everyone,

Now I am a relative newbie but i do know most of the basics but I still have alot to learn. Anyhow I been trading a system developed by Jeff Wilde.. anyhow I think that I really need help with understanding the money management way of this. I am a little worried because in my first 2 weeks of demo trading ( and with micro lots) I've done 4500 pips. I determined my stop loss to the second lowest candle from entry. Anyhow I don't want to get myself excited because I 've been reading other peoples results and these seem quite high. I have emailed Jeff screen shots of my trades to make sure that they are valid trade set ups and also asked him to check my adding up because I was a little shocked at how easy I found the system. Anyhow I do like this system as it is easy but I am wondering as I want to better educate myself can someone please direct me to a trading system on the forum that trades longer time frames, I am interested in 4hr and daily. I have 3 small children plus I homeschool my eldest so I don't have time to scalp the market and I also find that this style doen't suit me, I much prefer the longer time frames.
  • #2
  • Edited 10:00am Jul 4, 2009 8:56am | Edited 10:00am
If this guy is that good and has a yacht, why does he have a lampstand in the corner and the picture above the fireplace not a Picasso or a Renoir?

Is this a spam? You've done 4500 pips and you are worried? And by the way,
quit trying to tug on the heartstrings, have you not heard the whole world is in bad shape!

Edit: If you are actually being sincere then i do apologize. It just seems as though this is spam.
  • #3
  • Jul 4, 2009 2:02pm Jul 4, 2009 2:02pm
Quoting magisana
....can someone please direct me to a trading system on the forum that trades longer time frames, I am interested in 4hr and daily.
I would recommend http://www.forexfactory.com/showthread.php?t=2331.

However, you have to do your homework by looking through the various systems and finding what suits you.

Z
  • #4
  • Jul 5, 2009 4:06am Jul 5, 2009 4:06am
I am not spamming i am just wondering about my results as i haven't seen anyone else producing them, so It must be a fluke I am thinking or maybe my risk is to much, I don't know, like I said I am just learning. I have recalculated and I am still getting the same.
There is no need to be nasty now for this is exactly why I usually just read the forums because people are so ready to just attack you without giving you a fair chance! And as for the heartstrings that wasn't my intention I just saying so so that someone who might have an idea may know what sort of trading system would best suit me as I need to trade longer time frames due to watching my children, I can be distracted away from watching my charts quite at lot, so the point I was making is that day trading just doesn't fit in with my family.





Quoting rtv2
If this guy is that good and has a yacht, why does he have a lampstand in the corner and the picture above the fireplace not a Picasso or a Renoir?

Is this a spam? You've done 4500 pips and you are worried? And by the way,
quit trying to tug on the heartstrings, have you not heard the whole world is in bad shape!

Edit: If you are actually being sincere then i do apologize. It just seems as though this is spam.
  • #5
  • Jul 5, 2009 4:39am Jul 5, 2009 4:39am
Quoting magisana
Hello everyone,

Now I am a relative newbie but i do know most of the basics but I still have alot to learn. Anyhow I been trading a system developed by Jeff Wilde.. anyhow I think that I really need help with understanding the money management way of this. I am a little worried because in my first 2 weeks of demo trading ( and with micro lots) I've done 4500 pips. I determined my stop loss to the second lowest candle from entry. Anyhow I don't want to get myself excited because I 've been reading other peoples results and these seem quite high....
This result are great, but will it last long
Can you make such profits consistently for at least 6 months?

Btw i also thinx that scalping can be stressfull ^_^ trading 2~3 times a day might be better
  • #6
  • Jul 5, 2009 9:16am Jul 5, 2009 9:16am
Magisna, if you read my edit you read an apology if you were sincere. I have read hundreds of threads just like yours and most of them turn out to be spam.

The heartstrings just added fuel to the spam thing, and now i know it is not. I too have dilemas.

I was laid off back in 2001 could not find a job after making $57k. So then at the age of 43 i had to start a new career at $8/hr as an apprentice electrician. 3 years into the program i had my left hip replaced. Six months back i went to another position and told them during the employment interview i was taking pain medicine for my right hip which is now degenerating and meeds to be replaced. So they hired me and sent me to a job and the first thing i had to do was take a drug test. I failed because of the pain medicine and they fired me knowing that i showed them the pain medicine and they knew it. Now i have no job no insurance a replaced left hip and a right hip that is degenerating and within a year i will have pain that is beyond belief. And if that is not all i have to start a new career after having spent 5 years to obtain this one, with unberable pain with a pre-existing medical condition that won't replace my right hip!

So forgive me if i offended you, or not, that is your choice.
  • #7
  • Jul 5, 2009 9:30am Jul 5, 2009 9:30am
Quoting magisana
I am not spamming i am just wondering about my results as i haven't seen anyone else producing them, so It must be a fluke I am thinking or maybe my risk is to much, I don't know, like I said I am just learning. I have recalculated and I am still getting the same.
There is no need to be nasty now for this is exactly why I usually just read the forums because people are so ready to just attack you without giving you a fair chance! And as for the heartstrings that wasn't my intention I just saying so so that someone who might have an idea may know...
Can you please post a sreenshot of your system, that we can judge whether this is a scam or not. Otherwise nobody will respond I'm sure.
/ ... clarifying decisions ... /
  • #8
  • Jul 5, 2009 9:43am Jul 5, 2009 9:43am
Give this thread a look. Might fit your needs.

http://www.forexfactory.com/showthread.php?t=155431
  • #9
  • Jul 6, 2009 2:53am Jul 6, 2009 2:53am
Quoting rtv2
Magisna, if you read my edit you read an apology if you were sincere. I have read hundreds of threads just like yours and most of them turn out to be spam.

The heartstrings just added fuel to the spam thing, and now i know it is not. I too have dilemas....
WOW, I am sorry for your situation also. So it seems that we are both searching for a different career and for good reason. How are you going with your trading and what have you done so far? Maybe this forum will be good to support each other and finally get somewhere and get you that new hip. By the way I am not offended I just wanted you to know that I wasn't spamming that is all. I will keep going with this strategy that I am currently working on and see if I can keep on producing these results. Then I will try and figure out how to post my trades so that others can see them and tell me there opinions as I want to learn and am very open to advice.
  • #10
  • Jul 6, 2009 2:56am Jul 6, 2009 2:56am
Quoting walb99
Can you please post a sreenshot of your system, that we can judge whether this is a scam or not. Otherwise nobody will respond I'm sure.
I have to figure out how to do that, I am having a dilema and i am not sure what to do about it. I have been demoing with Go Trader and it seems that after 2 weeks my account gets shut down. Do you know of a broker that this does not happen on and could you advice me on how I would post the screen shots. I have been trying to work out how to get a account history print out, but can't seem to figure it out. if you like I can keep a journal of my trades and post the results? Does that help?
  • #11
  • Jul 6, 2009 3:16am Jul 6, 2009 3:16am
I currently have 1 trade going at the moment and these are the details:
EURUSD ( Daily chart) Time that I opened trade: 9:14am
Short @ 1.39229 and price is currently @ 1.39045. This position is still open. Will keep you updated.

Attached Image (click to enlarge)
Click to Enlarge Name: EurUsdtradejuly609.jpg Size: 68 KB
  • #12
  • Jul 6, 2009 3:59am Jul 6, 2009 3:59am
Quoting magisana
I currently have 1 trade going at the moment and these are the details:
EURUSD ( Daily chart) Time that I opened trade: 9:14am
Short @ 1.39229 and price is currently @ 1.39045. This position is still open. Will keep you updated.

Attachment
Your trading system is OK, you don't need any help.

Best regards
/ ... clarifying decisions ... /
  • #13
  • Edited 5:28am Jul 6, 2009 5:13am | Edited 5:28am
Quoting magisana
I currently have 1 trade going at the moment and these are the details:
EURUSD ( Daily chart) Time that I opened trade: 9:14am
Short @ 1.39229 and price is currently @ 1.39045. This position is still open. Will keep you updated.

Attachment
Ah you were trading on 5 digits broker, i thought it was 4 digits
Because 4500 pips on a 5 digits will be the same as 450 pips at 4 digits
I guess it's normal

I just made 171 pips today by shorting GU, and 50~150pips is a normal daily pips for me on 4 digits broker
So relax nothing wrong with your trading
  • #14
  • Jul 6, 2009 7:19am Jul 6, 2009 7:19am
Magisana, it is good to see you back. It is also very good to see that you are not a spammer. Glad to see that your system is going well.

As for me, i am intent on becoming what you might call an analyst. I am going to learn both in depth the technical & fundamental side of the markets, and not just forex. However Forex will be the first market i trade, have to start somewhere.

Currently reading Intermarket Analysis, just finished reading Forex Patterns & Probabilities (not worth the read IMHO). In the middle of several other books: Sentiment in the Forex Market Indicators and Strategies To Profit from Crowd Behavior and Market Extremes (I really like this book, not for everyone though, takes a contrarian view), several others not worth the mention, one is supposed to be a classic and it is, however it is just a little out dated.

Just one thing though, IMHO, a joke here and there about wife/husband is okay.Like, "Me and my first wife got divorced over a disagreement, she wanted a boyfriend and i didn't want to have one!" is okay. But that's it leave the rest of your personal life out of it, nobody needs to know who you are, they especially don't need to know about your family.

Have fun and enjoy!
  • #15
  • Jul 7, 2009 4:11am Jul 7, 2009 4:11am
Quoting AdamN
Ah you were trading on 5 digits broker, i thought it was 4 digits
Because 4500 pips on a 5 digits will be the same as 450 pips at 4 digits
I guess it's normal

I just made 171 pips today by shorting GU, and 50~150pips is a normal daily pips for me on 4 digits broker
So relax nothing wrong with your trading
Thanks for the reply like i said I am a newbie at this and still have much to learn I did not even think of that. thanks for pointing it out. phewww.
  • #16
  • Jul 11, 2009 4:57am Jul 11, 2009 4:57am
Quoting magisana
I currently have 1 trade going at the moment and these are the details:
EURUSD ( Daily chart) Time that I opened trade: 9:14am
Short @ 1.39229 and price is currently @ 1.39045. This position is still open. Will keep you updated.

Attachment
Just another question. You said, you got your system from J. Wilde. I checked his site and he writes he doesn't trade with MAs. Does not look like it, when I look at your chart. Can you explain this inconsistency a little deeper?
/ ... clarifying decisions ... /
  • #17
  • Last Post: Jul 12, 2009 5:53am Jul 12, 2009 5:53am
Well I am trading his new Trend system and it is simple and yes it is exponential moving averages.
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