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  • #721
  • Dec 14, 2009 10:22pm Dec 14, 2009 10:22pm
Hi there paidperpip, lrathi, luckylady and all others,

Greetings of the Season to one and all. Wishing you health, wealth and happiness in the coming year and learning even more from our Guru Glen.

CHEERS!!!

Trader7
  • #722
  • Edited 5:21pm Dec 28, 2009 5:11pm | Edited 5:21pm
I was trying to use STUDBIOL template, it seems that the TRIX colors does not change even when there is a severe downturn in the pair. Is anyone having the same issues? Its not that severe, but is that correct the way TRIX works?
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  • #723
  • Dec 29, 2009 6:26am Dec 29, 2009 6:26am
Quoting et_phonehome_2
I was trying to use STUDBIOL template, it seems that the TRIX colors does not change even when there is a severe downturn in the pair. Is anyone having the same issues? Its not that severe, but is that correct the way TRIX works?
Hi,

Using Trix needs in your folder the attached indicator ... no need to have it on your chart.
I hope that solves your problem.
Attached Image


Good trading to all members.

Attached File(s)
File Type: ex4 smSuper TRIX_v1.ex4   11 KB | 383 downloads
If there are pips you can collect - just do it!
  • #724
  • Dec 29, 2009 2:28pm Dec 29, 2009 2:28pm
Studbiol

Thanks, that did the trick, don't know how I missed it....
  • #725
  • Dec 31, 2009 4:08am Dec 31, 2009 4:08am
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2009
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2010
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I wish you Health... So you may enjoy each day in comfort.

I wish you the Love of friends and family... And Peace within your heart.

I wish you the Beauty of nature... That you may enjoy the work of God.

I wish you Wisdom to choose priorities... For those things that really matter in life.

I wish you Generousity so you may share... All good things that come to you.

I wish you Happiness and Joy... And Blessings for the New Year.

I wish you the best of everything... That you so well deserve.
If there are pips you can collect - just do it!
  • #726
  • Jan 2, 2010 11:01pm Jan 2, 2010 11:01pm
Happy New year to all! Hope everyone is enjoying thier break.

Does anyone know when we can expect 'normal' volumes to return to the market?

PPP
How do you make a small fortune in Forex? Start with a large one!
  • #727
  • Jan 5, 2010 2:47pm Jan 5, 2010 2:47pm
I had a fabulous New Year Eve party. I hope everyone enjoyed their winter break. Now it's back to business. I started trading this Monday and so far so good. I wasn't paying attention on volume. There's definitely movement in the Forex, even during the winter break.

Wishing everyone a great success and prosperous Forex trading year in 2010.
  • #728
  • Jan 5, 2010 8:20pm Jan 5, 2010 8:20pm
Quoting ForexHunter
I had a fabulous New Year Eve party. I hope everyone enjoyed their winter break. Now it's back to business. I started trading this Monday and so far so good. I wasn't paying attention on volume. There's definitely movement in the Forex, even during the winter break.

Wishing everyone a great success and prosperous Forex trading year in 2010.
Yeah, I put a line in the creek last night, and pulled out some good pip fish... Monday was a nice steady night too, but I was busy...

Will continue to see how it goes...

PPP
How do you make a small fortune in Forex? Start with a large one!
  • #729
  • Jan 6, 2010 7:59pm Jan 6, 2010 7:59pm
In the graft below, i show a valid signal at 7.30 GMT+0,is't same with mine?
BUT,the price is just 5 pips below big round number!
so i need to wait the price cross the big number right?
but my question is what is the exactly and the so call "best entry".can you show me?
Can i enter a trade when the price just cross "00", that means the closing price of the candles at 8.00 GMT+0,which is 4pips above "00"(BUY signal)??
If not how can i do?
you can look the signal is still valid from 7.30 to 8.20 before the 5 min block change color.
so,it still a valid signal " if "the ATR value shows red when the time i want to open the trade, which at 8.00GMT(4pips above "00")?
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  • #730
  • Jan 7, 2010 4:22pm Jan 7, 2010 4:22pm
I was making money on Monday and Tuesday, I gained 500 pips. I was very confidence with myself, and somehow I lost all my gains on the next 2 days. I stopped trading on the second losing day because I was emotionally unstable and hot. I reviewed my losses and found out that I wasn't disciplined enough with my entries. I entered too early because I just couldn't wait. 5 currency pairs entries wiped out all my hard work gains. Lesson learn: be patient and be more focus.

It's really tiring for the eyes when I have to stare at the computer screen for over 2 hrs just to wait for the right entry timing. Maybe trading shouldn't be a 5 days a week kind of job. Maybe I should work 3-4 days a week.
  • #731
  • Jan 8, 2010 7:41am Jan 8, 2010 7:41am
Hi ForexHunter...great post, which will remind all of us that what Gleneagles, Paidperpip, Lrathi and others have been saying over and over, again and again....be consistent, apply the 'rules' to every trade..wait for the trade to come to you; because if you don't you are not following the 'system'.

Also, I have a request; could you please post charts of your unsuccessful trades...I'm sure that we would learn just as much from them, as we do from successful trades. And finally..

Happy New Year to all followers of this excellent thread!!

Freddi

Quoting ForexHunter
I was making money on Monday and Tuesday, I gained 500 pips. I was very confidence with myself, and somehow I lost all my gains on the next 2 days. I stopped trading on the second losing day because I was emotionally unstable and hot. I reviewed my losses and found out that I wasn't disciplined enough with my entries. I entered too early because I just couldn't wait. 5 currency pairs entries wiped out all my hard work gains. Lesson learn: be patient and be more focus.

It's really tiring for the eyes when I have to stare at the computer screen...
  • #732
  • Jan 8, 2010 5:58pm Jan 8, 2010 5:58pm
In this chart I entered on the second red vertical line. The candles were above Daily Pivot, R1 was still far more than 10 pips and Trix meter was showing 60-15-5 strategy. All the criterias were there and so I entered. But I didn't make money because it didn't go to that direction. Stop losses were 35 pips.

This is one of those unsuccessful entry not because I wasn't following the strategy, but the market just didn't go my way. Trading is a game of chance, but as long as you stick to the game plan. The chance of winning will be higher.
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  • #733
  • Jan 8, 2010 6:06pm Jan 8, 2010 6:06pm
In this chart I was using 240-15-5 strategy. But the stop loss of 35 pips was triggered earlier before I can make profit. The market later went to the right direction. I am wondering whether 35 pips stop loss is good amount now. Well, it's good when the market goes to the wrong direction, and it's bad when the market goes to the direction you want and yet your entries were kicked out earlier.
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  • #734
  • Jan 8, 2010 6:14pm Jan 8, 2010 6:14pm
This is another good short entry using 60-15-5 strategy, but I exited earlier because I didn't want to have more losses. Instead, I could have made money if I just leave the trade alone. Good advice, after you make an entry, put in the stop losses, target profits and trailling stops, then walk away from the computer for at least 3 hrs.

I was monitoring my trade, and my stomach just can't handle the up and down. I exited at 15 pips loss. But a few minutes later, the market went south. Damn damn damn.

My reason to exit was because the news annoucement was coming out in the next hour and so I didn't want to lose 35 pips. Instead I exited prematurely.

How to handle take away my emotion after taking many beatings from the market? I think the best is probably to take a few days off from trading and start again. How I wish there was an EA for this strategy. Trading Demo and Real money is totally different. If it was Demo, I won't care if I lose 35 pips.
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  • #735
  • Jan 9, 2010 9:44am Jan 9, 2010 9:44am
Quoting ForexHunter
This is another good short entry using 60-15-5 strategy, but I exited earlier because I didn't want to have more losses. Instead, I could have made money if I just leave the trade alone. Good advice, after you make an entry, put in the stop losses, target profits and trailling stops, then walk away from the computer for at least 3 hrs.

I was monitoring my trade, and my stomach just can't handle the up and down. I exited at 15 pips loss. But a few minutes later, the market went south. Damn damn damn.

My reason to exit was because the news annoucement...
I have had the same problem, Made money the first part of the week, then same as you. Started watching trades and got scared, exiting to early, like you say once you enter as per the rules leave it alone.
  • #736
  • Jan 9, 2010 5:09pm Jan 9, 2010 5:09pm
Quoting ForexHunter
I am wondering whether 35 pips stop loss is good amount now..
Hey ForexHunter.....good for you posting your trades....it is much appreciated. I think that rather than choosing a stop loss of X pips (35, 45 whatever) rather you should look to see what stop loss would invalidate the trade ...(if going long) look to see what the previous low is, see how many pips away that is, and make that your stop loss.....if the number is larger, reduce your trade size. So if you are willing to risk 1.5% of your account, calculate what that is....and trade that size based on the number of pips.
If emotions are really kicking in, trade a smaller amount.
You may not be able to stomach losing $100, but if your trade size is smaller...then emotions will be more under control.
Anyways....good for you for posting your trades.

I view the MTF trix as a great system for entries.....but before I take trades using MTF I will decide......do I want to look for long trades or short trades on this market....and I go to the daily, then the 4 hour and I decide....what direction do I want to trade....then (if using MTF Trix for entries) I switch to that template and only take trades in the direction I see the market going....if it is not going my way....I don't take trades

best wishes

Keith
  • #737
  • Jan 9, 2010 7:08pm Jan 9, 2010 7:08pm
If I remember correctly, lrathi and gleneagles both use an 80 pip stop loss if using the 240/15/5 and a 40 pip stop with 60/15/5.
  • #738
  • Jan 10, 2010 2:38am Jan 10, 2010 2:38am
The most important thing is to remember to breathe.

If you have a plan, that you know inside out, and that you follow ruthlessly, this will give you some peace of mind. Don't trade with real money until you have found at least some of this peace.

If your SL is too big, and you are in danger of bottoming out your account, then you either need to switch to smaller lot sizes or a smaller account.

Sure, making $175 from a 100 pip move may not be as sexy as making $1750 from the same move, but its all about being able to consistently and reliably apply a simple plan to a given set of circumstances. It is consistency that enables the account to grow to the point where the $175 trade can make you $1750. Inconsistency will reverse this situation. Quickly.

Remember, if you are not breathing correctly, you are nervous. If you are nervous, you have too much at stake. Reduce your fears by reducing your stakes. Again, you might be earning a tenth of what you could, but then you are also losing a tenth of what you could too!

Monday will see a return to trading for me... The London session produced four great nights of action last week, and only one undecided night. Things are heating up again.

All the best for the week.

PPP
How do you make a small fortune in Forex? Start with a large one!
  • #739
  • Jan 10, 2010 5:11pm Jan 10, 2010 5:11pm
I appreciate all the comments. I know that I have to be discipline and focus when trading. I was cocky after gaining $500 in 2 days, and because of that I lost my gains. From this, I learn to be humble because the markets can take away your money if you are too proud/greedy.
  • #740
  • Jan 10, 2010 7:33pm Jan 10, 2010 7:33pm
Quoting ForexHunter
I appreciate all the comments. I know that I have to be discipline and focus when trading. I was cocky after gaining $500 in 2 days, and because of that I lost my gains. From this, I learn to be humble because the markets can take away your money if you are too proud/greedy.
Trading is a Zero Sum Game...

What this means is that you will lose as much as you gain, and thats even if you have a successful strategy...

The Chinese have a saying: The man who is capable of the ultimate good is also capable of the ultimate evil.

Its the same in trading... The strategy that wins big pips can also lose big pips.

Wise traders are those that recognise this fact. A strictly followed trading plan gives the edge. It ensures that you take more than you give back.

'Cocky' is an emotion, like 'Scared'.

A trading plan should take both the 'positive' and 'negative' emotions out of play.

"There'll be time enough for counting, when the dealings done.."

Its not easy. Anyone that tells you it is, has never traded before. It gets less difficult with time, but it is never easy to start with...

PPP
How do you make a small fortune in Forex? Start with a large one!
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