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The Raz Method

  • #241
  • Oct 26, 2009 1:02pm Oct 26, 2009 1:02pm
New candle just formed!!! what do you think?
Attached Image (click to enlarge)
Click to Enlarge Name: Gbpusd1.jpg Size: 182 KB
  • #242
  • Oct 26, 2009 1:03pm Oct 26, 2009 1:03pm
Quoting Psycic
no it touched +20 and came back, its developed intoa good trade...look at it and tell me! it will touch +25 this time and if i feel it wont ill cut for whatever i get

What position did you take on cable?
Trade Like a Robot make money Like a Bank
  • #243
  • Oct 26, 2009 1:05pm Oct 26, 2009 1:05pm
Short, but nw im out +4 didnt like the way the adx where pointing...it was risky!! Damn i should have taken that +20
  • #244
  • Oct 26, 2009 1:07pm Oct 26, 2009 1:07pm
here a pic of u/j trade

thx psycic , im not worried at all, because i think even if there come 3 or more losers in a row, the winners will come and they will make up the loss and make winning pips

btw im in the sell gbpusd now at 1,6332
Attached Image (click to enlarge)
Click to Enlarge Name: pic22.gif Size: 22 KB
consistency wins
  • #245
  • Oct 26, 2009 1:09pm Oct 26, 2009 1:09pm
Raz:

Do you take trades if the signal isn't good enough when all lines up latter?

Do you only reevaluate latter on a closed candle only or as soon as open candle signals line up?

Is there a limit to the number of candles that you will wait on for a good signal?

Thanks,

Steve
  • #246
  • Oct 26, 2009 1:14pm Oct 26, 2009 1:14pm
Hi All,

It was a long day at work, just adapting new time from today (UK). Looks like I missed a lot. Thanks for the alart, i'm going to apply it now.


There's nothing better than a good company!!!
Holding my candle high up, my mentor lit it up once!!
  • #247
  • Oct 26, 2009 1:24pm Oct 26, 2009 1:24pm
Quoting iTrader
here a pic of u/j trade

thx psycic , im not worried at all, because i think even if there come 3 or more losers in a row, the winners will come and they will make up the loss and make winning pips

btw im in the sell gbpusd now at 1,6332
Just my luck i guess... i exit and you enter and its going good for you...till the time veerything is +ve im happy
  • #248
  • Oct 26, 2009 1:34pm Oct 26, 2009 1:34pm
UPDATE!!!

Gbp/usd = +25

from which i only could take +4 but any ways lol... and Usd/Jpy is also looking good for a +25
  • #249
  • Oct 26, 2009 1:36pm Oct 26, 2009 1:36pm
Hi DreamFx, thats right nothing better than company

gbpusd hit TP +25

first winner on real account hehe
consistency wins
  • #250
  • Oct 26, 2009 1:38pm Oct 26, 2009 1:38pm
Hi,

Some time ago I posted a chart with "Raz Indi"

Over the weekend i was working on a visual way of deciding if a trade is in making or not.

I have two indis that need consideration.

The first one is attached and is called RSI_Cloud. Visually it shows potential of validating trades with stop lossess as well as potential trailing stops. specially when used in combination with a multicolored LWMA of 48. Why 48? Number of 30 minute bars in a day as of now. Can be optimized but may not be necessary.

It draws the Highs and Lows of bars that meet the requirement of Greater than 55 and Less than 45 levels of RSI 14. I know Raz suggested the period to be 8 however 14 seems to be a standard period used for RSI .

The reason I include this indi is to fully establish the rules of trade strictly based on RSI. Please bear with me on this one.

Pat1
Attached Image (click to enlarge)
Click to Enlarge Name: raz_rsi_cloud.jpg Size: 93 KB
Attached File(s)
File Type: tpl raz_v1.tpl   2 KB | 294 downloads
File Type: ex4 RSI_Cloud_v1.ex4   3 KB | 299 downloads
File Type: ex4 MA_AP.ex4   5 KB | 285 downloads
  • #251
  • Oct 26, 2009 1:48pm Oct 26, 2009 1:48pm
This is how I see this

Long trade:

 

  1. RC(RSI_Cloud) is blue
  2. Low is greater than Low value of RC
  3. MA_AP is green
  4. Buy at upper value of blue RC with stop loss of lower value of blue RC
  5. MA_AP is trailing stop. Trailing begins when MA_Ap is greater than upper value of blue.
  6. Trade ends if trailing stop is hit or TP of 25 pips, which ever occurs first.

Reverse for Short Tarde.

Let me know if it meets the requiremnt of RSI.
Pat

  • #252
  • Oct 26, 2009 2:14pm Oct 26, 2009 2:14pm
To answer my own question above, I think you can trade anytime after an initial rsi signal as soon as the other indicators line up.

Attached are the 4 pairs I trade along with a yellow line at the time a 30m candle closes with a very good signal(DI+ or DI- sloped upward, rsi sloped past 45/55 and macd histo and signal line sloped toward trade.

Three already paid 25+ with Gu just entered short. Its late in the NY afternoon session so need luck to push it thru.

Watching price action is a good self teacher isn't it.



Steve
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu.gif Size: 48 KB
Click to Enlarge Name: gu.gif Size: 55 KB
Click to Enlarge Name: uchf.gif Size: 53 KB
Click to Enlarge Name: uj.gif Size: 57 KB
  • #253
  • Oct 26, 2009 2:14pm Oct 26, 2009 2:14pm
Quoting stevewide
Raz:

Do you take trades if the signal isn't good enough when all lines up latter?

Do you only reevaluate latter on a closed candle only or as soon as open candle signals line up?

Is there a limit to the number of candles that you will wait on for a good signal?

Thanks,

Steve

Stevewide my fellow trader, looks like that you brought up a very good point. Now I hate to make this answer so long, but it is something that I feel is important to me. This question that you ask is exactly what made me a frustrated trader. In the past I would look at a signal, and notice that all the signal are forming up BUT aren't quite confirming. However in my mind and thought process I would think
"well it's going to form anyways with the next candle, better get in now!"
and with my luck it wouldn't and I would lose out. Other times I would see the same scenario and then pass it up, only to watch it hit a solid TP. At that point it was a hair pulling fest for me.

Other times I would enter a candle after the fact, because a couple or few candles later the trade materialized better and I would think 'hmm', this looks better, and it did hit or did not hit 50% of the time.

So I wanted to stop being a frustrated trader. Or a 50% trader. Then about 7 months ago I wrote down my rules (The MUSTS & The NEVERS) and stuck by them since. And would you believe it, it was the only time I have ever been positive trading Forex, ever! Now I know that sounds crazy, but that is the truth. I have never made money before that point, oh yeah! I had my little flash of moments of forex brilliance because I GUESSED right. Thats all it was Guessing, a 50/50 shot. However over the long periods I never was ahead. There was even a week in June where I had 6 losing trades, and almost doubted my system through the week(ready to throw it out), but I still finished the week with 8 winners, net +2 winners. I have taught myself one thing that is preached all over all these forex sites, discipline will make you money! I self proved it, and believe in it now.

So I guess to answer your question, I am so strict my system, that even if the candle jumps crazy I will only enter on closes(ususally with in the next min or 2 after the close) and the signals all have to valid for me to enter. This is me, and I recommend you guys do what is best fits your style. Just like the loss trade I had earlier, it did not bother me one bit, all it does is that it proves that this market is brutal, but I love it!

So you all can clearly see, I am no pro, or no better then each and everyone of you. If anything you guys being a part of this makes me want to be a better trader. My only frustration is not being able to catch every signal, even if it did lose out.

Anyways keep it up, this isn't my thread, it's our thread!! Jack some pips!!
Trade Like a Robot make money Like a Bank
  • #254
  • Oct 26, 2009 2:21pm Oct 26, 2009 2:21pm
RAZ: I'm here because of your discipline. Its what impresses me most. You have nailed down rules far beyond what most of us can appreciate suggesting new indicators, new rules(like I just did in above posting) and other typical reactions of unsuccesful traders.

One day I'll learn.........soon!

Steve
  • #255
  • Oct 26, 2009 2:32pm Oct 26, 2009 2:32pm
Quoting raz
Stevewide my fellow trader, looks like that you brought up a very good point. Now I hate to make this answer so long, but it is something that I feel is important to me. This question that you ask is exactly what made me a frustrated trader. In the past I would look at a signal, and notice that all the signal are forming up BUT aren't quite confirming. However in my mind and thought process I would think
[i][size=3][color=#000080]"[color=red]well it's going to form anyways with the next candle, better...
Inspirational...my xpale 2day can be a good like example.. I had my trade everything was in like the stop the tp it went against me it went in my direction i just dint have the discipline to stick to it... i have to work on my emotion its tough but ill nail them down sooner or later!!! Thnx for a inspiration raz!!!
  • #256
  • Oct 26, 2009 2:50pm Oct 26, 2009 2:50pm
Quoting raz

So you all can clearly see, I am no pro, or no better then each and everyone of you. If anything you guys being a part of this makes me want to be a better trader. My only frustration is not being able to catch every signal, even if it did lose out.

Anyways keep it up, this isn't my thread, it's our thread!! Jack some pips!!
You are better than me and I'm getting better too! This week I'm only going to watch and make sense of it all, all the signals....

'Take your time once the storm stops, nature will help you grow again'-dreamfx.
Holding my candle high up, my mentor lit it up once!!
  • #257
  • Oct 26, 2009 2:53pm Oct 26, 2009 2:53pm
I'm surprised but not disapporinted too much that my Gu short just stopped out. Slow time of day could have something to do with it. I don't know.

I've lost both my trades today while missing good trades. But I trade what I see mechanically and believe this will make me successful.

Steve
  • #258
  • Oct 26, 2009 5:01pm Oct 26, 2009 5:01pm
Im still in usdjpy but becoming little tired

now a gbpusd sell is forming for me ...

@pat ill take a closer look at your indi tomorrow , but looks like great work to me
consistency wins
  • #259
  • Oct 26, 2009 5:21pm Oct 26, 2009 5:21pm
i closed the usd/jpy +16 so todays overall +16
maybe it will hit +25 idk, but there is some resistance up there and market is slowing down , plus i need some sleep ... so decision made

good night folks and happy trading
consistency wins
  • #260
  • Oct 26, 2009 8:01pm Oct 26, 2009 8:01pm
well I got home too late, noticed that there was a signal just 40 mins ago. I tried to catch the second valid signal. I know this is slow period, but I take all valid signals, and yes it stopped out. So far this week a pretty crappy start for me, but from experience this is nothing for me to worry about. I looked back and realized that I did miss 3 valid signals that hit. Including the one I missed because I got him just a late. If you look at the pic, if I had gotten in on the previous entry, would have been +25. Anyways staying true to myself, and I am going to rebound for sure this week.


CURRENT STATS:
WEEKLY TRAIL:
3 WINS (3 MISSED)
2 LOSSES (0 MISSED)
EARNED THIS WEEK $-22.72
MONTHLY TRAIL:
STARTING BALANCE $400
MONTHLY GOAL $440
CURRENT BALANCE $395.92 (-11% OF C.M.G)
Attached Image (click to enlarge)
Click to Enlarge Name: cable.gif Size: 21 KB
Trade Like a Robot make money Like a Bank
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