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Why did you start trading and what do you expect from it? 19 replies

How soon after you put on a trade do you expect to be "in the money"? 28 replies

How do you see trading - Do you see it as a means to an end? 12 replies

how long do you expect to trade? 10 replies

Trade What You See And Not What You Hope 0 replies

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Trade what you see NOT what you expect

  • #30,621
  • Jan 29, 2010 11:41am Jan 29, 2010 11:41am
Thanks for the encouragement. Have a good weekend everyone.
Cap
  • #30,622
  • Jan 29, 2010 12:43pm Jan 29, 2010 12:43pm
Quoting Ahsanfx

Quick Question: Are your Seminars private or can any "noob" in this strategy attend?

-Ahsan
Good luck, mi amigo! I was turned down flat. I think the requirements for invitation might include gender based considerations. Namely, how good you look in a bikini (or lack of same).
Hi, my name is Barry and you can keep your doctor...
  • #30,623
  • Jan 29, 2010 12:44pm Jan 29, 2010 12:44pm
Quoting PippiNole
EO makes up the guest list.
Talk about throwing your buddy, EO, under the bus!
Hi, my name is Barry and you can keep your doctor...
  • #30,624
  • Jan 29, 2010 3:13pm Jan 29, 2010 3:13pm
Quoting cisco
Talk about throwing your buddy, EO, under the bus!
then i should be golden, i look GREAT...while not in a bikini
  • #30,625
  • Jan 29, 2010 4:34pm Jan 29, 2010 4:34pm
Quoting cisco
Good luck, mi amigo! I was turned down flat. I think the requirements for invitation might include gender based considerations. Namely, how good you look in a bikini (or lack of same).
lol Damn! I was hoping to win him with my Charm and long hair.
  • #30,626
  • Jan 30, 2010 12:20am Jan 30, 2010 12:20am
First and formost, Thanks! EOhater, KENNETH LEE, PippiNole, Infinity, Luckylady and all.
My name is iForex, I am a part time Forex trader, this is my second month of using EO's strategy, the result is quite good to me, I am satisfied with it.
I know it is peanut to those seniors, but I also know I will make progress with those senior's very kind help!
FYI, I have a few years part time forex trading experience, sometimes I gain, sometimes I lose, never get contenious profit. And to be honest, my firt month trading result using this strategy was bad, the profit was minus.

Account A (main account)
Monthly Gain: + 7.0% (+200 pips)

Account B (small account)
Monthly Gain: +57.2% (+473 pips)
You can view the report from myfxbook, click here

My weakness:
1) No patience to wait for the best entry point!
2) Can not hold a trade to get maximum profit, my average win is only 18.7 pips.
Please give me some advise to overcome those weakness! thanks！
Hope my next month report will be better!
Attached Image (click to enlarge)
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Dancing with Candlesticks
  • #30,627
  • Edited 1:51am Jan 30, 2010 1:35am | Edited 1:51am
Quoting iForex
First and formost, Thanks! EOhater, KENNETH LEE, PippiNole, Infinity, Luckylady and all.
My name is iForex, I am a part time Forex trader, this is my second month of using EO's strategy, the result is quite good to me,...
I think thats a brilliant 2nd month! I have run through a few of the trades on there comparing them to my charts, and holding on longer will come with practise as will cutting some of your losses sooner.

The main thing is, out of 17 trading days you only had 2 losing days in that, and an 82% overall success rate, that is excellent by anybody's standards. Not sure what happened on 8th, but you held on for a large loss and even added to a losing trade which accounts for around 10% loss that day, otherwise you would have been even further up than you are now.

Just imagine what you will be doing 6 months down the line, because as with everything else, practise makes perfect

  • #30,628
  • Jan 30, 2010 12:35pm Jan 30, 2010 12:35pm
Quoting iForex
First and formost, Thanks! EOhater, KENNETH LEE, PippiNole, Infinity, Luckylady and all.
My name is iForex, I am a part time Forex trader, this is my second month of using EO's strategy, the result is quite good to me,...
First...i love that chart you posted. what software or broker gives that display like that...that's really cool.

as for your weaknesses...
1) was a problem of mine for a long time. I would enter early a lot of time...i was usually right, but early so i'd either watch it go against me a little before in my favor (which was funny cuz had i waited i would have signaled at almost the same exact entry anyways). I just had to tell myself to wait another 5-10 minutes. it took some work but you HAVE to make yourself do it. setup a timer or something. write down what you think will be a great entry, set a timer and walk away for a few minutes, then come back after it goes off.

2) for my trading style 18 pips per trade is very good. but you have to assess what your "per trade target" is.
for this you must trust your system and GROUND yourself on your stops and targets. Place your trade, set up your stop and your target and walk away. If your target is 100 pips then most likely you are not going to see that for serveral hours. if you are not ready to see the loss on that trade, then you shouldn't be taking it. that's the game, some you win and some you lose. it's all about playing a high probability trade.

hope this helps
dak
  • #30,629
  • Jan 30, 2010 12:41pm Jan 30, 2010 12:41pm
Quote
My weakness:
1) No patience to wait for the best entry point!
2) Can not hold a trade to get maximum profit, my average win is only 18.7 pips.
I too am having the same problem. It seems that I don't wait for the best entry feeling that I might be left out or I'm always looking for the turn in direction rather than the continuation.

I am now reading "Trading in the Zone" I see a lot of myself in that book!

Good luck to all and thank you for the thread
  • #30,630
  • Jan 30, 2010 1:13pm Jan 30, 2010 1:13pm
Quoting dakrusha
First...i love that chart you posted. what software or broker gives that display like that...that's really cool.
Good post Dak

The chart is produced by inputting your details in here: http://www.myfxbook.com and you can do quite a lot of analysis. You don't have to have all the details public or indeed any of the details public you can just use it for yourself if you prefer.
  • #30,631
  • Jan 30, 2010 1:25pm Jan 30, 2010 1:25pm
Quoting luckylady
Good post Dak

The chart is produced by inputting your details in here: http://www.myfxbook.com and you can do quite a lot of analysis. You don't have to have all the details public or indeed any of the details public you can just use it for yourself if you prefer.

THX...

that is SOOO cool... I'm all over it!
  • #30,632
  • Jan 30, 2010 9:36pm Jan 30, 2010 9:36pm
So, Dak are you going to put your stats up?
  • #30,633
  • Jan 31, 2010 9:34am Jan 31, 2010 9:34am
Mae all,

With using this strategy i get a 32% profit on january (18 days of trade, 2 loosing days), i would like to say thanks to all who contibute and share their experience in this thread.

Sailor
Trade with the momentum
  • #30,634
  • Jan 31, 2010 1:33pm Jan 31, 2010 1:33pm
Quoting sailor68
Mae all,

With using this strategy i get a 32% profit on january (18 days of trade, 2 loosing days), i would like to say thanks to all who contibute and share their experience in this thread.

Sailor
Awesome Results Sailor! Keep going and stay consistent. Stick with your rules, study your past trades for what you did right and wrong and you can even cut your losses more.

Good Luck,
Ahsan
  • #30,635
  • Jan 31, 2010 1:35pm Jan 31, 2010 1:35pm
Quoting MaximusPips
So, Dak are you going to put your stats up?
perhaps....if i can figure this thing out
  • #30,636
  • Jan 31, 2010 2:19pm Jan 31, 2010 2:19pm
Lucky Lady, I'm using the FXGuru MultiMA to put all the MA's on the right charts. Once the MA's are on the individual charts, can I edit the indicator to add MA's or change colors? I see that the pdf has somewhat different colors and additional MA's on some of the charts. Example: The FXGuru MultiMA 1H puts 62ema, 35sma, 10ema on the 1H chart. The pdf lists 10sma, 50sma, 62ema, 200 sma for the 1H chart.
  • #30,637
  • Jan 31, 2010 2:31pm Jan 31, 2010 2:31pm
For those who have been trading this style successfully for some time. What is the number of wins vs losses in a typical week or month. Don't know if anyone actually keeps track but it would be nice to compare to my own trading.

As always thank you for this thread.
  • #30,638
  • Jan 31, 2010 2:56pm Jan 31, 2010 2:56pm
Quoting dakrusha
I wanted to take some time to share a little success with the NOOB's of the thread and to forex in general....




Peace ppl
dak

Thanks for the post bro, helps greatly...
It's a dirty job but someone's gotta do it!
  • #30,639
  • Jan 31, 2010 2:59pm Jan 31, 2010 2:59pm
Quoting mary4x
Lucky Lady, I'm using the FXGuru MultiMA to put all the MA's on the right charts. Once the MA's are on the individual charts, can I edit the indicator to add MA's or change colors? I see that the pdf has somewhat different colors and additional MA's on some of the charts. Example: The FXGuru MultiMA 1H puts 62ema, 35sma, 10ema on the 1H chart. The pdf lists 10sma, 50sma, 62ema, 200 sma for the 1H chart.
Not sure why yours is different to mine Mary, but on my 1hr chart I have the 10ema 50sma 62ems and 200sma I don't have the 35sma on there. Try opening a new 1hr chart and then adding the indicator and what do you have? I hadn't noticed that the 10ema should be sma until you pointed it out but I will let him know and see will change it for me.
  • #30,640
  • Jan 31, 2010 3:11pm Jan 31, 2010 3:11pm
I deleted the multi MA indy and reapplied it. No change. Mine doesn't have the 200 sma either.
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