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Exceptional day, will it continue ?

  • #241
  • Aug 25, 2009 10:32am Aug 25, 2009 10:32am
Quoting speedtrip
Wow what a thread .... truly enthralling ... im very impressed.
Thrilling - what is thrilling? "I made a boatload of pips, but I cannot show you how" is not thrilling. Don't get me wrong, but there are a zillion people coming to Forex looking to get rich quick, and this attitude kills each and everyone of them off.

Thrilling would be a sane and rational display of the method.

Quote
I understand why there are doubters out there and they have a right to hold back but I dont undetstand the personal of these attacks but some of this stuff is just unpleasant and uncalled for.

Again, not a bash on anyone, but the reason people look at this and hammer it is because it is an established pattern. Just as surely as a big Pin Bar at a Resistance point will reverse price action - it happens over and over, when we see brags and seemingly outrageous claims it happens that the effort is a scam. Over an over again.

This case may be different. I hope so because I believe that there are a few good people out there.

Hence my repeated request for charts and discussion.

Anyone got a good example from today of a hammer and wall trade?
I'm pretty much done with all this ...
  • #242
  • Aug 25, 2009 11:39am Aug 25, 2009 11:39am
Sorry for the absence these past couple of days, have quite a bit to sort out and battling with this website. Presently busy uploading the whole darn thing again from scratch.

I can unfortunately not upload charts now but here with the trades for today. Not a good trading day, frustrating actually but still decent enough profit wise.

GBP/USD
Sell 1.6388 – closed at 1.6354 – 34 pips
Buy 1.6385 – closed at 1.6419 – 34 pips
Missed the drop after this, had no signal and was not to sure about direction so did not enter new trades.

GBP/JPY
Sell 154.09 – closed at 153.87 – 22 pips
Buy 154.27 – stopped at 154.57 – 30 pips

EUR/JPY
Buy 134.63 – stopped at 135.01 – 38 pips

EUR/USD
Buy 1.4292 – stopped at 1.4331 – 39 pips
Sell 1.4327 – still open

USD/JPY – No trades

USD/CHF
Sell 1.0619 – stopped at 1.0589 – 30 pips

Total for the day 227.

Hope tomorrow is a better trending day.
  • #243
  • Aug 25, 2009 11:47am Aug 25, 2009 11:47am
Quoting Kosomolate
GU +45pips

I saw the wall and placed a pending order below it. and this is the result.

May be as you see the trades you'll get the idea

kos
Spot on, nice trade. My entry was at 1.6494 on the hourly chart, and was stopped out last night on 1.6424 for 70. I prefer the hourly charts, not very fond of the smaller ones.

There was also a very nice trade on GJ at 156.17 which went all the way to 154.57 before it was stopped out. Another nice 160.

And so it was for almost every other pair as well. An easy 300 to 400 pips on the table yesterday with little effort.
  • #244
  • Aug 25, 2009 12:01pm Aug 25, 2009 12:01pm
Might be pretty cheap to have the website done for you. Based on the pip stream you drag into your nets, it is a no-brainer to hire this out. That way you can focus on the important stuff - no?

From MT4, just left click in the screen and 'save as picture' and then save it. 5 seconds. I do it when I enter the trade - shows the permanent record...

Typing the trades out take a lot longer than a fast annotation of a screen and post of that jpg.

Just trying to help.

Quoting mike_85
Sorry for the absence these past couple of days, have quite a bit to sort out and battling with this website. Presently busy uploading the whole darn thing again from scratch....
I'm pretty much done with all this ...
  • #245
  • Aug 25, 2009 12:15pm Aug 25, 2009 12:15pm
Quoting StoragePro
Thrilling - what is thrilling? "I made a boatload of pips, but I cannot show you how" is not thrilling.......Anyone got a good example from today of a hammer and wall trade?
StragePro,

Not out to bash you either but you were here right at the begining warning everybody. If you were less worried about warning others and more worried about actually learning you would have benefited from the forum I had up where there were tons of examples.

Sorry, that sounds harsh...I know you just did the moral thing to do so please do not take it personally. I see that you turned over a new leaf which is always a good thing.

The hardest part about this strategy that I see over and over is the simplicity. Everyone and I mean everyone, I show this too, is out to make it more complicated as they just cannot get over the simplicity.

I do not watch news, I do not do any technical analysis except maybe calling my kid over and asking him if the chart is up or down and in some severe cases I might pull the odd ruler closer.

I do not watch fundamentals, I do not read forecasts, I do not use indicators, if at all possible I will even go without charts , I do not read forex books anymore, I do not read newspapers.

The closest I get to forecasts or fundamentals are the Daily Reckoning report which I read to stay in touch with what is going on, even though it is a biased view, but always a good read.

Simplicity = over 11,000 pips since begin July. Yearly total up to just over 14,000 now (only traded one pair and switched to 6 as from July after I mande my 3,000 target for the year). Another week (end Aug) and I'm done for the year until end Feb next year (my new tax year).

It is not about flashing pips around but about getting people to open their eyes and see the market for what it is and to take advantage of this. Like flipping a coin. Stop trying to figure out whether it will be heads or tails and rather work on a strategy that will get you ahead no matter what side it lands on.

And that is the foundation of the H&W strategy. It is not about predictions etc... but about following what is happening. Taking advantage of the moment and seeing what is to come.

Let me get back to my work, I'm like an old woman when I get started but I'm very passionate about this strategy.
  • #246
  • Aug 25, 2009 12:19pm Aug 25, 2009 12:19pm
OK

So I am looking at this myself - here is a GBPUSD chart. Hourly. As you trade it.

The short white lines are the entry and exit of the sell order. No discernible signal - what TF did you trade from?

Yellow lines are the buy. No discernable signal. What TF did you do this on?

Then the 9AM hammer is a work of art. Through the Wall and back. But there 'was no signal'. OK - now I'm in a twist... <scratches head>

Again, I am just looking to get some clarity so I can push the boat off the dock

Thanks!!

...



Quoting mike_85

<snip>

GBP/USD
Sell 1.6388 – closed at 1.6354 – 34 pips
Buy 1.6385 – closed at 1.6419 – 34 pips
Missed the drop after this, had no signal and was not to sure about direction so did not enter new trades.


Attached Image (click to enlarge)
Click to Enlarge Name: gu h1.gif Size: 20 KB
I'm pretty much done with all this ...
  • #247
  • Aug 25, 2009 12:21pm Aug 25, 2009 12:21pm
Here's todays walls from three currency pairs.

GBPUSD, GBPJPY and EURJPY

No need to explain any of them I think, if you can't see it you shouldn't trade it.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusdwall.gif Size: 20 KB
Click to Enlarge Name: gbpjpywall.gif Size: 23 KB
Click to Enlarge Name: eurjpywall.gif Size: 20 KB
  • #248
  • Aug 25, 2009 12:30pm Aug 25, 2009 12:30pm
Quoting StoragePro
Typing the trades out take a lot longer than a fast annotation of a screen and post of that jpg.

Just trying to help.
Thanks and yes...problem is that I'm busy uploading just over 1GB to the website so everything is either freezing or disconnecting on this side. I only have a 384Kb dsl line here from home.

The site was outsourced until the guys made a mess of it, we now do it in house. The site is not the problem in itself...it is everybody and their family that need to OK it...we have the same laws (if not stricter than those in the US) when it comes to financial matters...I cannot just go and upload a site giving advice etc...To open your mouth about anything financial here you need a licence or you could be fined with a million bucks (see FAIS Act) so I had to get everything OK'ed. I have a licence but I still need approval just to make sure my *** is not grass a month from now. An e-mail even went off to your NFA even though we are not in that market. Secondly my merchant also had to have their say and changes etc....the banks handling the payments from our other businesses which come via the site etc...need I go on....the uploading etc brought its own problems with server configurations etc... but that is hopefully now resolved. The problem was our recurring billing for another business which stuffed around with our ISP's firewalls etc...

As soon as this is done I will throw up some charts
  • #249
  • Aug 25, 2009 12:32pm Aug 25, 2009 12:32pm
Quoting mike_85
StragePro,

Not out to bash you either but you were here right at the begining warning everybody. If you were less worried about warning others and more worried about actually learning you would have benefited from the forum I had up where there were tons of examples.

Sorry, that sounds harsh...I know you just did the moral thing to do so please do not take it personally. I see that you turned over a new leaf which is always a good thing.
No offense taken.

Quote
The hardest part about this strategy that I see over and over is the simplicity. Everyone and I mean everyone, I show this too, is out to make it more complicated as they just cannot get over the simplicity.

I'll let everyone in on a little secret - to be successful you kind of need to park your brain at the door.

Quote
I do not watch news, I do not do any technical analysis except maybe calling my kid over and asking him if the chart is up or down and in some severe cases I might pull the odd ruler closer.

I do not watch fundamentals, I do not read forecasts, I do not use indicators, if at all possible I will even go without charts , I do not read forex books anymore, I do not read newspapers.

The closest I get to forecasts or fundamentals are the Daily Reckoning report which I read to stay in touch with what is going on, even though it is a biased view,...

LOL - News never helps. In fact the market takes it into account every time and tips it's hand in advance very often.

Quote
And that is the foundation of the H&W strategy. It is not about predictions etc... but about following what is happening. Taking advantage of the moment and seeing what is to come.

It would take about 15 minutes to toss up 10 example charts. I personally trade J16 PA. Simple and effective. I think that is what people are in a beef about. No one really wants to see a P&L. Just a methodology they can put to work - if it works for them.

That request is very fair don't you think?
I'm pretty much done with all this ...
  • #250
  • Aug 25, 2009 12:36pm Aug 25, 2009 12:36pm
Quoting mike_85
Thanks and yes...problem is that I'm busy uploading just over 1GB to the website so everything is either freezing or disconnecting on this side. I only have a 384Kb dsl line here from home.

The site was outsourced until the guys made a mess of it, we now do it in house. The site is not the problem in itself...it is everybody and their family that need to OK it...we have the same laws (if not stricter than those in the US) when it comes to financial matters...I cannot just go and upload a site giving advice etc...To open your mouth about anything...
Crazy Governments.

I'd just us the FF. It is up here for a reason, and a great way to get the word out.
I'm pretty much done with all this ...
  • #251
  • Aug 25, 2009 12:48pm Aug 25, 2009 12:48pm
Here's a USDCAD trade I closed moments ago for +50pips.

Went long at the last upper wall at 1.07945.

Easy as they come.
Attached Image (click to enlarge)
Click to Enlarge Name: usdcadwall.gif Size: 20 KB
  • #252
  • Edited 3:58pm Aug 25, 2009 1:16pm | Edited 3:58pm
Quoting wallst500
Here's a USDCAD trade I closed moments ago for +50pips.

Went long at the last upper wall at 1.07945.

Easy as they come.
Thanks Man.

So - as I observe it to this point

Walls are on the bottom of the bar bodies that align.

Walls are on the Top of the bar bodies that align.

Getting in - Of course that is more fun that finding a wall. Entry is on the break of a wall when preceded by a 'Hammer'

Getting out - Number of ways to do this. At the next wall. Trail bars. A specified R value. A trailing stop.

What would melt the butter are a few entry examples. They are not obvious to me.
I'm pretty much done with all this ...
  • #253
  • Aug 25, 2009 1:19pm Aug 25, 2009 1:19pm
Hey folks,
I admit I just skimmed the thread lightly and it looks interesting, I didn't notice one but can someone direct me to a post detailing the method(s) used here?
Thanks in advance,
  • #254
  • Aug 25, 2009 3:51pm Aug 25, 2009 3:51pm
Quoting StoragePro
Thanks Man.

So - as I observe it to this point

Walls are on the bottom of the bar bodies that align.

Walls are on the Top of the bar bodies that align.

Getting in - Of course that is more fun that finding a wall. Entry is on the break of a wall when preceded by a 'Hammer'

Getting out - Number of ways to do this. At the next wall. Trail bars. A specified R value. A trailing stop.
Now is it so difficult to understand how this strategy can provide a few hundred pips per day over a few pairs? Are you ready to give Mike and this thread that apology yet?
  • #255
  • Aug 25, 2009 4:05pm Aug 25, 2009 4:05pm
Quoting Limstylz
Now is it so difficult to understand how this strategy can provide a few hundred pips per day over a few pairs? Are you ready to give Mike and this thread that apology yet?
Well - LINK is where I did it.

And it appears to me I am over simplifying the simple, because merely taking a break would be a disaster. Waiting for a Hammer (or an Outside bar for that matter) would be required.

But I cannot say I *know* any of this to be factual. Mike does not say it is. Just a few charts annotated up for clarity would be an immense help to understand.
I'm pretty much done with all this ...
  • #256
  • Aug 25, 2009 4:29pm Aug 25, 2009 4:29pm
Quoting StoragePro

And it appears to me I am over simplifying the simple, because merely taking a break would be a disaster. Waiting for a Hammer (or an Outside bar for that matter) would be required.

.
It took me a while to understand the beef from Mike's H&W.

The beauty of H&W!
1. Once you notice one, you still have some time (15m-1h) to prepare whether you are going to take it or not and verify.
2. You are not trying to pick the top or bottom. You are trying to catch the meat of the movement. Most of us could be stuck when trying to catch the last part of the move. (Suddenly day trader becomes swing trader or position trader.)
3. With recognizing the short term trend using your current means you are using, the win ratio seriously increases.
4. Most PA system trys to recognize the S&R zones from the end of candles. H&W just recognizes the horizontal lines which make reading several pairs very easy.
5. Just by reading 15m candles horizontal levels, you are able to find the H&W patterns in all time levels from 15m to 4H.

(There were some more benefits I thought of. Appreciate if you can add some more you can think of)
Best Pip Wishes!
  • #257
  • Aug 25, 2009 4:33pm Aug 25, 2009 4:33pm
Quoting FxCross
It took me a while to understand the beef from Mike's H&W.

The beauty of H&W!
1. Once you notice one, you still have some time (15m-1h) to prepare whether you are going to take it or not and verify.
2. You are not trying to pick the top or bottom. You are trying to catch the meat of the movement. Most of us could be stuck when trying to catch the last part of the move. (Suddenly day trader becomes swing trader or position trader.)
3. With recognizing the short term trend using your current means you are using, the win ratio seriously increases.
4....
I appreciate the answer. So - the *break* is what we trade?? Do we wait for appropriate PA and then the break?

How much room (stop loss) is appropriate? How much Break of the wall?

Almost to the point where I can actually do something to learn it.
I'm pretty much done with all this ...
  • #258
  • Aug 25, 2009 4:41pm Aug 25, 2009 4:41pm
One hr chart show today's action.

Arrow marks entry bar.

Question:

Where would SL be placed on entry? I am accustomed to the far end of the bar that broke. This has impact on position sizing of course.

TP and moving a SL is discretionary I know.
I'm pretty much done with all this ...
  • #259
  • Aug 25, 2009 4:51pm Aug 25, 2009 4:51pm
Hi storage pro, I meant the thread was interesting you donkey and I am intrigued to understand more about the "method used" to further my education.

It does sound like the method used is similiar to what i use so i am hopeful they will complement each other. I use pps, big round numbers, previous s&r to determine my entry and exit but no indicators/EAs. I only use charts to look back to help me predict future price action.

I was using this method before really delving into FF and thats when i found that there was a a lot of chat about Round Numbers and there are some good threads about this which i am currently reading through.

I am not here just to get a free system and press a few buttons as i want to understand "the why and when" so i can stand on my own two feet.

I only really 6 months into trading most part time around work.

Anyway here is my oil chart for today, I bought at $73.55 (HL) and sold at $74.10 for 55 pips as it was faltering around $74.00. I missed out on the later action when the index failed $74.25 (PP) and sold off $74.14 offering LHs down to $71.25 for 300 pips

Quoting StoragePro
Thrilling - what is thrilling?...
Attached Image (click to enlarge)
Click to Enlarge Name: oil250809v1.jpg Size: 195 KB
" Dont wait for your boat to come in ..... swim out and meet it"
  • #260
  • Aug 25, 2009 5:29pm Aug 25, 2009 5:29pm
Quoting StoragePro
Well - LINK is where I did it.

And it appears to me I am over simplifying the simple, because merely taking a break would be a disaster. Waiting for a Hammer (or an Outside bar for that matter) would be required.

But I cannot say I *know* any of this to be factual. Mike does not say it is. Just a few charts annotated up for clarity would be an immense help to understand.
Your posted link is supposed to be an apology after you publicly called for Mike's hanging? Not once do you mention the words sorry or apology or attempt to recant your previous posts.

However, if Mike is a big enough man to forgive your outragrageous behaviour, then I should follow his example.

You are correct. You must wait for the setup to be properly qualified by either a hammer or a strong break (itself properly qualified by supporting candles and if you use them, pivots) . This was all laid out in Mikes forum, (had you bothered to check it whilst it was up). You should now wait like the rest of us for his forum to reopen.
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