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Silent Service Method

  • #3,761
  • Jul 23, 2009 2:00pm Jul 23, 2009 2:00pm
Mr Tick tock, you have upset James16 and that upsets me, now go over and give him a big smacker on his lips and make up. He said he will still help you out, I take it that means your job is safe you said you do for free, but James said he pays you. Who's telling the truth here anyway.

Go on, be a big boy and give James some man love.
Just a boy playing with big bars.
  • #3,762
  • Jul 23, 2009 2:02pm Jul 23, 2009 2:02pm
Chris this is a long story, but in a nut shell.

I was going to buy 2000 SIRI at .12. By the time I got an account opened it had moved to .38 and I had to buy 2500.

I had only opened the account with 500. So I just let it slide..

Q: Are you required to buy minimum shares?
  • #3,763
  • Jul 23, 2009 2:06pm Jul 23, 2009 2:06pm
Quoting SaepeExertus
Chris this is a long story, but in a nut shell.

I was going to buy 2000 SIRI at .12. By the time I got an account opened it had moved to .38 and I had to buy 2500.

I had only opened the account with 500. So I just let it slide..

Q: Are you required to buy minimum shares?

Normally it's a minimum balance that is the issue. For example, IB is 10000USD some are a lot less though. The charges for a trade differ WILDLY.....so you have to look around to be honest.
  • #3,764
  • Jul 23, 2009 2:07pm Jul 23, 2009 2:07pm
Quoting jimboo
Mr Tick tock, you have upset James16 and that upsets me, now go over and give him a big smacker on his lips and make up. He said he will still help you out, I take it that means your job is safe you said you do for free, but James said he pays you. Who's telling the truth here anyway.

Go on, be a big boy and give James some man love.
I'm not too sure how to respond to this - so I won't.
  • #3,765
  • Jul 23, 2009 2:11pm Jul 23, 2009 2:11pm
Quoting SaepeExertus
The first trade I took and lost caused me to question my judgment.. With losing my second trade caused me mental anguish and psychotically distress to say the least.This caused me to pass a couple trades that were winners.
Coming back and loosing the next trade worsened my psychic.
That's why you learn on demo and what you should learn on demo is to believe in probabilities. Even with the best setups you have winners and losers in an unspecific order. You have to gain the confidence in your method that in the end it is profitable. If you know a setup was good before but just lost 2 times now you have to take it the next time it shows up without hesitation.

I had to erase this mental block. The method I chose to remove this mental blockage was simple for me. I chose to take aggressive trades that could turn positive.

I don't know exactly what you mean with aggresive here, but if you mean to enter without good reason or having reasons against or even beating the market after a loss it is in general not good and can happen if you don't think in probabilities. Don't measure your success with a single trade, take at least a period of 10 to 20 trades and keep in mind that staying at BE can be a SUCCESS because this means your are not part of the 95 % losers.

I kept this up until now I don’t think twice about forgetting that trade and entering the next with in seconds if the setup calls for it.

If you enter within seconds after because there's an entry confirmed on a setup you watch than it's exactly what you have to do. If you enter to get the money back you lost than it's one of the greatest mistakes you can make. The fact that you can loose money again is outweighted by the impact on your mental capital this behavior can have. It can destroy all the progress you make on the way to think in probabilities.

I also believe going to live trading, my confidence level will drop to some degree.

Its also the fear that increases. Stops are set tighter than in demo because now the real coin is on the table. Trades are closed to early with a bit in negative to reduce a loss ....

I am slowly learning to be patient and taking better trades with a little less aggressive trade …

Try to open a second demo account, on one you take only the better setups and on the other you add the aggresive ones additionally. I don't know the result, but the difference or no difference can be a lesson too.

These are just my thoughts and I don't know if the 10V+ guys are thinking know that maybe I'm consuming to hard stuff but I believe at the end it's only about to understand how to find the good (best) setups and learn to loose.

stefx.
10 x 100 = 100 x 10, stefx, retired scalper.
  • #3,766
  • Jul 23, 2009 2:13pm Jul 23, 2009 2:13pm
Quoting clockwork71
I'm not too sure how to respond to this - so I won't.
There is a very simple way to respond to this Chris....open communication with Jim. Call him or email him, this will cost you nothing.

Keep the friends you have Chris. There is nothing stopping you and Jim working together for the good of all.

Z

Was going to PM you but thought i would wait for your response.
  • #3,767
  • Jul 23, 2009 2:18pm Jul 23, 2009 2:18pm
Quoting zuret9
There is a very simple way to respond to this Chris....open communication with Jim. Call him or email him, this will cost you nothing.

Keep the friends you have Chris. There is nothing stopping you and Jim working together for the good of all.

Z

Was going to PM you but thought i would wait for your response.
You sound like you have been reading my email that I get from him. You sound like you have already seen what's on my site. You sound like you have some kind of clue as to why I am left. You sound like you understand the reality of the situation. I would say I am surprised by all the drama, but I'm not - some people can't help themselves - like a moth to the flame.

Thank God, they are normally the people that give me their pips.

One thing I can say is this: I am too busy making a kick-ass site to get bogged down in the drama.

I am sure something will be worked out, but until then - people like you have no opinion.
  • #3,768
  • Jul 23, 2009 2:28pm Jul 23, 2009 2:28pm
Quoting stefx
That's why you learn on demo and what you should learn on demo is to believe in probabilities. Even with the best setups you have winners and losers in an unspecific order. You have to gain the confidence in your method that in the end it is profitable. If you know a setup was good before but just lost 2 times now you have to take it the next time it shows up without hesitation.

I had to erase this mental block. The method I chose to remove this mental blockage was simple for me. I chose to take aggressive trades that...
I like this idea..
I already have a second account.

Thank you.
  • #3,769
  • Jul 23, 2009 2:29pm Jul 23, 2009 2:29pm
Quoting SaepeExertus
I like this idea..
I already have a second account.

Thank you.

This is actually a great idea....
  • #3,770
  • Jul 23, 2009 2:33pm Jul 23, 2009 2:33pm
Quoting clockwork71
You sound like you have been reading my email that I get from him. You sound like you have already seen what's on my site. You sound like you have some kind of clue as to why I am left. You sound like you understand the reality of the situation. I would say I am surprised by all the drama, but I'm not - some people can't help themselves - like a moth to the flame.

Thank God, they are normally the people that give me their pips.

One thing I can say is this: I am too busy making a kick-ass site to get bogged down in the drama.

I am sure something...
Chris please spare me the pips. This is not about anyone's opinion about you or Jim. There is enough space in the sky for more birds to fly.

Please take a step back and see the bigger picture. There is clearly a breakdown in communication and after all is said it would be best if you both stayed as friends.

Wishing you well.

Z
  • #3,771
  • Jul 23, 2009 2:34pm Jul 23, 2009 2:34pm
Quoting clockwork71
Normally it's a minimum balance that is the issue. For example, IB is 10000USD some are a lot less though. The charges for a trade differ WILDLY.....so you have to look around to be honest.
I have no problem with minimum balance.

I should have asked if all stocks requires a minimum purchase/sell ?
  • #3,772
  • Jul 23, 2009 2:39pm Jul 23, 2009 2:39pm

Quoting clockwork71
One thing I can say is this: I am too busy making a kick-ass site to get bogged down in the drama.
  • #3,773
  • Jul 23, 2009 2:54pm Jul 23, 2009 2:54pm
Quoting SaepeExertus
I have no problem with minimum balance.

I should have asked if all stocks requires a minimum purchase/sell ?

no, not in the usa at least
  • #3,774
  • Jul 23, 2009 2:58pm Jul 23, 2009 2:58pm
Quoting clockwork71
You sound like you have been reading my email that I get from him. You sound like you have already seen what's on my site. You sound like you have some kind of clue as to why I am left. You sound like you understand the reality of the situation. I would say I am surprised by all the drama, but I'm not - some people can't help themselves - like a moth to the flame.

Thank God, they are normally the people that give me their pips.

One thing I can say is this: I am too busy making a kick-ass site to get bogged down in the drama.

I am sure something...
Wow.
I'm pretty much done with all this ...
  • #3,775
  • Jul 23, 2009 3:01pm Jul 23, 2009 3:01pm
[size="3"][font="Courier New"]Hi everyone,

Some of you are following the CAD/JPY more closely today, so I identified the more obvious near term S/R, fibs and zones on it for posting. And since this is my first post that displays charts, I'll try to make this brief but I feel obliged to give a little of my background and reference. And as always, I welcome any and all feedback - thank you.

Now I prefer to track the yen pairs, specifically G/Y, E/Y and A/Y. They're more obvious to me in terms of PA, correlations to the carry trade and commodities. Albeit for in depth understanding and study on the forex, they're my focal point. (CW talks about "comfort" and these pairs are just that to me.)

Oanda is my broker and I use their charts, which include the C/J - so here's the chart I drew up for the Silent ... Method.

---------

CAD/JPY

* Blue thick lines: Major zones .88/.78.

* Orange: Fib drawn from Daily chart - however - this chart only goes one year back, so I'm not vouching for its accurate placement! From a glance it looks about right but I don't like that about Oanda's charts, the limited historical data, w/o ordering it. (Perhaps in future posts I'll use MT4 charts.)

* Purple thin: Minor .86, e.g..

* Grey dashed [suggestive]: Quartered distances between the "Blue" major zones of .88/.78.

(CW mentioned using something like this in one of his earlier videos. I use them from time-to-time but not so much anymore. It's also good to be aware of them and like he said, "still think the market's random?")

Simple math for the quarters:

.88 - .78 = .10 | .10/2 = .05 | .05/.05 = .025 | .78 + .025 = .8050 (quarter mark) | .78 + .05 = .83 (mid-point quarter) | etc...

* Pink dotted: trend line

---------------------------

Okay, if I forgot anything that important, please tell me. So I'll post the Daily and what's a 3H chart; the 4H isn't available on Oanda. If anyone has suggestions on how to clean it up for display purposes, please let me know. The best I could do was a muddy .pdf for now.

This post is about the technical/chart of the C/Y but the fundamentals, as hel13rock (post #3649) and others have pointed out I'd underscore as well, for relevance sake. Hope this helps and thanks for the opportunity!
Attached File(s)
File Type: pdf C:Y Daily.pdf   196 KB | 408 downloads
File Type: pdf C:Y 3H.pdf   127 KB | 320 downloads
  • #3,776
  • Jul 23, 2009 3:04pm Jul 23, 2009 3:04pm
Quoting Soca
[size="3"][size=3][font="Courier New"]Hi everyone,

Some of you are following the CAD/JPY more closely today, so I identified the more obvious near term S/R, fibs and zones on it for posting. And since this is my first post that displays charts, I'll try to make this brief but I feel obliged to give a little of my background and reference. And as always, I welcome any and all feedback - thank you....

Thanks for the post!
  • #3,777
  • Jul 23, 2009 3:50pm Jul 23, 2009 3:50pm
Anybody got any thoughts on these yen pairs?

Some pins shaping up, not all at SR.....

Today's move kicked me out of my nzdusd long (running for 3 days), at +3.

Damn.

I'm not is a rush to get into a trade, but I don't want to pass up a good opportunity, because I was too busy licking my wounds.....

I think I'll come back when Asia opens, and see what's what.
  • #3,778
  • Jul 23, 2009 3:52pm Jul 23, 2009 3:52pm
Quoting stefx
That's why you learn on demo and what you should learn on demo is to believe in probabilities. Even with the best setups you have winners and losers in an unspecific order. You have to gain the confidence in your method that in the end it is profitable. If you know a setup was good before but just lost 2 times now you have to take it the next time it shows up without hesitation.

I had to erase this mental block. The method I chose to remove this mental blockage was simple for me. I chose to take aggressive trades that...
I like this post, good responses. I like the old enchilada too though, some good posts.

One thing I would say is that learning to trade on a demo account teaches you only half of trading. The other half is the fear you feel after your 3rd loss in a row and you've got the perfect trade setup on your chart.

I really do recommend starting off with £200 (or $ or whatever) or so in your account and trade the minimum lot size per trade. If you can trade that to £1000 then start adding to your account. It cuts out a lot of the fear aspect as you're never risking more than you can afford to lose and you can slowly increase your exposure per trade as you develop confidence and competence.

Just my thoughts on it.
  • #3,779
  • Jul 23, 2009 3:59pm Jul 23, 2009 3:59pm
Quoting clockwork71
One thing I can say is this: I am too busy making a kick-ass site to get bogged down in the drama.
Yeah screw all the people who helped you eh? Let hope one of your followers doest do the same to you one day. Of course your deserve to make money, you are a good teacher, just don't forget those who got you here and pretend they don't exist. I hope this is sorted without us losing this thread or you as you are one of the top traders/teacher here.
I hear and I forget. I see and I remember. I do and I understand.
  • #3,780
  • Jul 23, 2009 4:13pm Jul 23, 2009 4:13pm
Quoting tac
Yeah screw all the people who helped you eh? Let hope one of your followers doest do the same to you one day.
Helpful.
Is there the slightest possibility of FF returning to being just an FX traders site again? Or is it turning into a 'Comedy Gold' type of set-up, where people scuttle back and forwards shouting at each other?
But, please, can the guy with the pink charts and gay innuendo stay?
I haven't laughed as much in days!
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