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Silent Service Method

  • #3,341
  • Jul 19, 2009 6:55am Jul 19, 2009 6:55am
Quoting SaepeExertus
Roger……
never doubted that
Who is Roger?
  • #3,342
  • Jul 19, 2009 8:32am Jul 19, 2009 8:32am
Quoting hel13rock
CW, Hola amigo, que tal?

I notice on your usdcad chart you didn't draw the 1.18 level. This has acted as quite significant s/r in the past and you also mentioned in a post a while ago when it started retracing from it's recent low that you would "love to see a pin bar from the 1.18 level". Sorry I have such a sharp memory causing you a pain in the ass!

I have that level on my chart, should it stay or should it go?

Ole!
From memory, 1.18 - 1.20 is a wide area......I believe it's a 200 pip zone. But I do remember saying that. So yes, 1.18 is an area......albeit part of a larger one perhaps?
  • #3,343
  • Jul 19, 2009 8:33am Jul 19, 2009 8:33am
Quoting hel13rock
That's some serious consolidation on the xxx/usd pairs at the moment. You'd think when this breaks out it's going to go wild.

Yes, I think it all comes down to two things: It's summer, so the order flow isn't as heavy. Also, it comes down to the stock markets being in the same shape. You are correct, when this goes - it should go hard. Fall should show us where we are going for months.
  • #3,344
  • Jul 19, 2009 12:23pm Jul 19, 2009 12:23pm
i hate to say this but in the end whenever you see someone being really nice and helping out people like this, they always ending up starting a charging service. There is no free lunch. I'm not sure if some of you have been here long enough to remember but there have been numerous people at FF that have done this, OzFX released his system, helped people out with it, and then got banned from FF and started his own paying service (AshFX will probably do the same if not already). Why? because the thousands of dollars he recv'd monthly from all those subscriptions is sure as hell a better deal than him trading forex. It's guaranteed income. He realized the only people who actually make money consistently at forex (<5%) are those who charge for their services but they themselves don't actually trade. so-called FX expert "Kathy Lien" and all these people on CNBC and shit just make money talking about forex and analyzing it, they themselves don't actually trade because in the long run they know they would lose money.

it is sad to see CW going to a pay service,, OzFX method was based on lagging indicators and was destined to fail from the start. however silent service method is more about PA and similar to James16 method which really probably could turn out profits consistently in the long run if you get good at it. but again, raking in thousands of dollars monthly as guaranteed income is probably a lot better than making 1-3% ave. monthly when your account size is not very large.


..waits for CW's rebuttal about he needs some compensation for the time he is going to spend helping traders in his charging service..

(i don't mean to attack you, i really like you and all, but you going to a pay service just makes me say to myself, "man i shoulda known from all long, everyone has an ulterior motive" ... there is no such thing as a free lunch)
  • #3,345
  • Jul 19, 2009 12:57pm Jul 19, 2009 12:57pm
CW, have you had any luck with open range breakout strategies? They all look feasible but often you might take 30 pips but if you lose you lose 100 or so. That's not my kind of thing.

I think a good system along those lines could be put together but the whole idea of a breakout is that it, er, breaks out... Which would suggest to me a move on volume. If it starts going backwards just after it's triggered then there's something wrong. I'd be more inclined to only trade on days when the last few hours were relatively quiet, hence the breakout would be more intense, and use a much smaller stop loss, say 15 pips on eur or gbp with a 30 tick tp.

Not that I'm itching for a new system anyway, just if there's something there for the taking while I'm waiting for a good ss setup I would be inclined to take it.
  • #3,346
  • Jul 19, 2009 12:58pm Jul 19, 2009 12:58pm
Well if you have an opportunity to make a buck wouldn't you do the same?

Quoting dengzhi
i hate to say this but in the end whenever you see someone being really nice and helping out people like this, they always ending up starting a charging service. There is no free lunch. I'm not sure if some of you have been here long enough to remember but there have been numerous people at FF that have done this, OzFX released his system, helped people out with it, and then got banned from FF and started his own paying service (AshFX will probably do the same if not already). Why? because the thousands of dollars he recv'd monthly from all those...
  • #3,347
  • Jul 19, 2009 1:45pm Jul 19, 2009 1:45pm
Quoting dengzhi
i hate to say this but in the end whenever you see someone being really nice and helping out people like this, they always ending up starting a charging service. There is no free lunch. I'm not sure if some of you have been here long enough to remember but there have been numerous people at FF that have done this, OzFX released his system, helped people out with it, and then got banned from FF and started his own paying service (AshFX will probably do the same if not already). Why? because the thousands of dollars he recv'd monthly from all those...
where did this come from?
  • #3,348
  • Jul 19, 2009 1:49pm Jul 19, 2009 1:49pm
No free lunch?
Of course not, don't be so naive!
Just like J16 all the information on how Chris trades is available free on FF for those who have the patience and wit to seek it out.
However those who want one to one guidance should not winge about compensating Chris for his time and effort.
At least Chris has the courage to show his set up's before they are triggered. On James16 there are hundreds of of examples of wonderful winning trades -all neatly cherry-picked after the event.
Before the naive and deluded launch into a tirade of breast -beating about how disappointed they are that Chris is not an altruistic trading messiah lets remember why we (and Chis) are here.
To make money!
Never did get the hang of flossing.
  • #3,349
  • Jul 19, 2009 1:59pm Jul 19, 2009 1:59pm
Quoting dengzhi
i hate to say this but in the end whenever you see someone being really nice and helping out people like this, they always ending up starting a charging service.
Well...I don't really see it going that way. Here's a thread that points out some of the more obvious flags leading toward it:
http://www.forexfactory.com/showthread.php?t=166964

I think CW will give a straight answer yes or no.

My guess is that we're in for more free lunch...good spam-free lunch.

I thank him for that.
  • #3,350
  • Jul 19, 2009 2:43pm Jul 19, 2009 2:43pm
Quoting dengzhi
i hate to say this but in the end whenever you see someone being really nice and helping out people like this, they always ending up starting a charging service. There is no free lunch. I'm not sure if some of you have been here long enough to remember but there have been numerous people at FF that have done this, OzFX released his system, helped people out with it, and then got banned from FF and started his own paying service (AshFX will probably do the same if not already). Why? because the thousands of dollars he recv'd monthly from all those...
(The following isn't directed at you personally Dengzhi, but your post sparked something in me that has bugged me over the years. What I will say to you directly is that there such a thing as a free lunch and you're reading it. All 224 pages of it. If after reading this you think some secrets are being held back for paying customers then I would respectfully suggest you read it again. On to my general reply)

The James16 thread gets this a lot. But let me tell you as a lifetime member of J16 (and these words will be echoed by everyone who runs that private site), there is no information on that forum that you could not find in the public thread.

Likewise, Chris has laid out here everything you need to trade. Everything. No hidden secrets, nothing extra. In this thread and his blog he lays out all you need.

I can really understand people who have paid fortunes to BS educators and system sellers over the years feeling aggrieved at people charging. But I would make a big differentiation here. Everyone hates forking over cash for BS. But if the material is good, why wouldn't you pay? You pay to go to college, you pay for the computer you're reading this on, you pay for the hamburger you had for lunch. Why on earth do you expect to get a forex education for free?

And here's the thing that really does get to me. When that forex education is provided for free, on this thread and on the James16, then why don't you see it? People offer James HUGE sums for one on one mentoring. He doesn't do it. Guys, wake up and smell the coffee. It's all here and you can learn for free.

If Chris has plans for a paysite then I am utterly delighted. But I can tell you this right now, and he will echo this, he has already laid out everything you need right here. In my eyes, this is what it all comes down to:

This is a business.

A business with an incredibly low overhead and huge potential returns. No other business allows you in with such a low overhead. If you're complaining that that low overhead is too high, then you're in the wrong business. Period paragraph.

I am sorry to sound a little firm about this but it is a subject very close to my heart. Chris has my respect and admiration for what he does. He should have yours too.
  • #3,351
  • Jul 19, 2009 2:47pm Jul 19, 2009 2:47pm
Quoting dengzhi
i hate to say this but in the end whenever you see someone being really nice and helping out people like this, they always ending up starting a charging service. There is no free lunch. I'm not sure if some of you have been here long enough to remember but there have been numerous people at FF that have done this, OzFX released his system, helped people out with it, and then got banned from FF and started his own paying service (AshFX will probably do the same if not already). Why? because the thousands of dollars he recv'd monthly from all those...
My rebuttal is simple:

Don't join if you don't want to.

CW
  • #3,352
  • Jul 19, 2009 2:49pm Jul 19, 2009 2:49pm
Quoting hel13rock
CW, have you had any luck with open range breakout strategies? They all look feasible but often you might take 30 pips but if you lose you lose 100 or so. That's not my kind of thing.

I think a good system along those lines could be put together but the whole idea of a breakout is that it, er, breaks out... Which would suggest to me a move on volume. If it starts going backwards just after it's triggered then there's something wrong. I'd be more inclined to only trade on days when the last few hours were relatively quiet, hence the breakout would...
No, actually I have always hated these systems. They rely on something that doesn't seem overly reliable in my experience. I could be wrong - it's just not my thing.

I tend to trade longer time frames, box trading, and gap trading......

CW
  • #3,353
  • Jul 19, 2009 2:52pm Jul 19, 2009 2:52pm
Quoting FXSurfer
Well...I don't really see it going that way. Here's a thread that points out some of the more obvious flags leading toward it:
http://www.forexfactory.com/showthread.php?t=166964

I think CW will give a straight answer yes or no.

My guess is that we're in for more free lunch...good spam-free lunch.

I thank him for that.
Yeah, I am not an asshole about it. If you want to stay in the free forum....that's cool. Don't for a second think that Jim doesn't use his thread as advertisement......but there is useful info in there.

However, there are plenty of regulars there that never go to his site. They are missing out on a lot, (especially my 30 + videos ) but get good info in the free side as well.

CW
  • #3,354
  • Jul 19, 2009 2:58pm Jul 19, 2009 2:58pm
I dont think anything needs to be added to something that has already been well said below, but just my 2 cents why this kind of thinking is prevalent.

It is well known that you cannot make progress by spitting on your own face, but that is what the OP just did when he said "in the long run you would probably fail" well with that kind of assumption to begin with how does one ever get successful in trading?

And then the belief that there ought to be some kind of voodoo behind making money in trading! If one just went back and drew straight lines on every week price bounced at, and then traded every time price reached those lines, 3/4th of the battle would have been won.

This is a one thread that I regularly visit even though I dont post much here, but if some one is scared that the hen laying golden eggs will stop soon, there is nothing to fear. As you said, all one needs to know to do good has already been laid bare. So I dont see the free lunch coming to an end anytime soon unless that concept of s/r ceases to exist


Quoting TiaForex
(The following isn't directed at you personally Dengzhi, but your post sparked something in me that has bugged me over the years. What I will say to you directly is that there such a thing as a free lunch and you're reading it. All 224 pages of it. If after reading this you think some secrets are being held back for paying customers then I would respectfully suggest you read it again. On to my general reply)

The James16 thread gets this a lot. But let me tell you as a lifetime member of J16 (and these words will be echoed by everyone who runs that...
Its all in the mind.
  • #3,355
  • Jul 19, 2009 2:59pm Jul 19, 2009 2:59pm
Quoting TiaForex
(The following isn't directed at you personally Dengzhi, but your post sparked something in me that has bugged me over the years. What I will say to you directly is that there such a thing as a free lunch and you're reading it. All 224 pages of it. If after reading this you think some secrets are being held back for paying customers then I would respectfully suggest you read it again. On to my general reply)

The James16 thread gets this a lot. But let me tell you as a lifetime member of J16 (and these words will be echoed by everyone who runs that...
There is something that's not being pointed out here either. I didn't start out a rich man. My mother, God rest her soul, came from southern Ohio coal country. My father wasn't around, although he paid child support. I was not born into wealth. Everything I have, I have worked for. This group will be no different.

However, most people will try to tell you that "I turned a thousand into a million in 30 days." Bullshit. Compounding interest is what it's all about.

Besides.....who here is willing to get up at 4 a.m. to do webinars? Nobody. At least not for free. I am willing to do that, and yes.....I HATE getting up early, but I am self-employed already, so I know it's about the customer. I also am going to be doing phone consultations.....on your time zone when necessary. I am about customer service......that's why I haven't had a "job" in 15 years.

I will update all the time, and have really cool software to try out over the weekend, which by the way - wasn't free.

I was going to leave the J16 group anyways, this thread has opened my eyes to several things.

And TIA said this: It's a business. I am also trading some money for others. I suppose I should give that away as well?

Just some thoughts, and don't worry den.....I know you weren't trying to be obnoxious. You are still welcome here of course!

Chris
  • #3,356
  • Jul 19, 2009 3:01pm Jul 19, 2009 3:01pm
Quoting 5abi
I dont think anything needs to be added to something that has already been well said below, but just my 2 cents why this kind of thinking is prevalent.

It is well known that you cannot make progress by spitting on your own face, but that is what the OP just did when he said "in the long run you would probably fail" well with that kind of assumption to begin with how does one ever get successful in trading?

And then the belief that there ought to be some kind of voodoo behind making money in trading! If one just went back and drew straight...

Exactly, and I will still post some of the charts I am looking at. Like I said.....no need to be an ass. I do that in real life enough! The truth is, a lot can't be done on a chart....video, webinars, etc help.

  • #3,357
  • Edited 4:07pm Jul 19, 2009 3:49pm | Edited 4:07pm
Quoting clockwork71
Great trade Chris!

I also like where you have placed the stop. A natural place to do it, above that pinbar on the 4 hour chart.

So what have we learned class? Trades that go with the trend tend to go farther, as seen here on his chart.

Damn fine trade. One of these every month will do wonders. You really show that you understand what it takes to make some real money. Congrats.

Chris
Hi CW,

thanks for your commendation!
Hopefully such trade will come at least once a month.
By the way....many thanks for all your efforts to teach us how to trade successfully!

All the best

Chris
  • #3,358
  • Jul 19, 2009 4:04pm Jul 19, 2009 4:04pm
Quoting cyborg
Hi CW,

thanks for your commendation!
Hopefully such trade will come at least once a month.
By the way....many thanks for a your efforts to teach us how to trade successfully!

All the best

Chris
Actually, I find in a given month - there normally is one. It's normally the bulk of my profits as well.....

A couple of decent gains, a small loss or two, and one big gain!

It all works out in the end.

CW
  • #3,359
  • Jul 19, 2009 4:28pm Jul 19, 2009 4:28pm
First off I want to say, I do need a little more attention and some guidance from someone I can trust. That is why I am following Chris's lead. It's a win win situation for us.

Anyway, I am going to be watching the aud/jpy because- I see a double inside pin on the daily which may suggest a buy. I do not trade the daily-never have so I want you all to take a look at it. To me it looks like it could run for 300 pips.

Thoughts??
Attached Image (click to enlarge)
Click to Enlarge Name: audjpy dbl ipbs.gif Size: 10 KB
  • #3,360
  • Jul 19, 2009 4:36pm Jul 19, 2009 4:36pm
Quoting calderone
First off I want to say, I do need a little more attention and some guidance from someone I can trust. That is why I am following Chris's lead. It's a win win situation for us.

Anyway, I am going to be watching the aud/jpy because- I see a double inside pin on the daily which may suggest a buy. I do not trade the daily-never have so I want you all to take a look at it. To me it looks like it could run for 300 pips.

Thoughts??

I see 75 as support, so I could buy that theory......

Just as a break lower would be really bearish. Should produce a signal soon either way.

CW
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