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Attachments: 2 losses,30 winners, out of 32 trades
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2 losses,30 winners, out of 32 trades

  • #41
  • Feb 6, 2010 10:51am Feb 6, 2010 10:51am
Quoting Rob Mondave
magnumfreak, you're using quotes by two different people.

Rob
Here are both quotes from his first post so you can follow:

Quote
all indicators are shit. And no one knows for sure where the price is heading. You can only speculate.

And here is the one from just a few lines before that one:

Quote
Only price action. Not a single indicator, beside bollinger bands. I put very much weight on whether it is trending, oversold,overbought.

Does that help you to see??
  • #42
  • Feb 6, 2010 10:56am Feb 6, 2010 10:56am
Im getting really drunk now.

However, my tips are:


eat omega 3. take overdoses. It will increase your concentration. Exercize.

I promise. just trade priced action.

like:

76,76,75,74, bam 76, 78,79,79,79,81,82,83

you should sell at 83, the increase from 76 to 83 happend just within 15 seconds, while it had been within 74 and 76 for 5 min. It is exhausted, it has to retrace to 78.


it is no rocket science. So i watch strengt of price at most. Thas whrere bollinger bands, it tells you bollinger.

For the price to reach upper band, it has to had major nstrenght, and may get ex hausted.

However, if the price stalls at upper band. it gains new strengt, and it will be placed at middle band. and a new higher price,may be more possible.

My ultimate advice is. Try this. You may be wrong,but as you are watching prices, you will get a feeling for it. SO persistence,you may lose inte begininng,but keep the hope up.
  • #43
  • Feb 6, 2010 10:59am Feb 6, 2010 10:59am
Quoting woo
I think you are wrong that indicators are where to show you statistics which the naked eye cant see.

I think the naked eye,or that you unconciously get to see it.

For instance RSI tells you overbought areas. I trained eye, while watching an eye can see where it is overbought plus, it is not lagged, it is the price action here and now.
I didn’t mean it this way. I didn’t mean that S&R lines, cannot provide oversold overbought areas or that you cannot spot such movements by watching price action alone (even though i understand that what i wrote can be interpreted this way,).

I actually meant they provide calculations that cannot be done with the naked eye - (so ill go edit my post and replace "seen" with "done"). I cannot tell what's the price average or the standard deviation of price just by looking at the chats, even thought that is information I’m really concerned with.
May the Force be with You
  • #44
  • Feb 6, 2010 11:02am Feb 6, 2010 11:02am
magnumfreak, the first quote you use is by alex_000, the second is by woo.

Now, can YOU see?

Rob
  • #45
  • Feb 6, 2010 11:05am Feb 6, 2010 11:05am
Quoting Rob Mondave
magnumfreak, the first quote you use is by alex_000, the second is by woo.

Now, can YOU see?

Rob
YES I can see. If you look alex_000's post has the first quote.
  • #46
  • Feb 6, 2010 11:08am Feb 6, 2010 11:08am
Quoting woo
Only price action. Not a single indicator, beside bollinger bands.
First post itself
  • #47
  • Feb 6, 2010 11:33am Feb 6, 2010 11:33am
Exacly. I think this forum would benifit from : critical reasoning skills.

THe gmat, graduate admission test, has a part like that.

If you were an expert on critical reasoning, you would tell that i propose indicators, since i tell i use bollinger bands.

since i say: no indicators beside bollinger bands.

this sentene does not lend any information on how much information i put on indicators. You dont know if i put 1% percent on bollinger bands in my analysis, and thus, generally think indicators are shit. However, if i put 99%percent on bollinger band, i think it is very important.

you just know, i trade price action without indicators, beside bollinger bands(critical reasoning)

however, i statement like: i put 10% weight on indicators:

now you would now how much weight i put on indicators.



this is what graduate admission test you on

bad ciritical reasoning skills= you draw wrong conclussion after havind read some text.

critical reasoning is not necessarily correlated to iq, its another set of skill. critical reasonong may be hampered by arrogance, a willing to win the argument etc., lack of concentration etc. I dont know, where are no studies done on the subject....
  • #48
  • Feb 6, 2010 11:40am Feb 6, 2010 11:40am
i think this is my fav thread ever

edit: along with woo's other one today
  • #49
  • Edited Feb 7, 2010 6:10am Feb 6, 2010 11:46am | Edited Feb 7, 2010 6:10am
i know,it is a funny thread,
  • #50
  • Feb 6, 2010 11:48am Feb 6, 2010 11:48am
make a mil then say stfu to all the people u gotta be nice to at work i think most jobs require us to be people who we aren't, which sucks
  • #51
  • Feb 6, 2010 11:53am Feb 6, 2010 11:53am
Quoting Sim
make a mil then say stfu to all the people u gotta be nice to at work i think most jobs require us to be people who we aren't, which sucks

Im a very outspoken person, i may sometimes say inappropriate things :S
  • #52
  • Feb 6, 2010 12:00pm Feb 6, 2010 12:00pm
just let the inner you flow out. the funniest people are those with torrettes
  • #53
  • Feb 6, 2010 12:17pm Feb 6, 2010 12:17pm
u did great ,
i see that u can improve only on 1 thing ,
when u think its wrong close half instead of the whole thing , that way if u r proved right but only mistimed a little u cld reinstate the half at a better price

but good job , its trending right now , but u have got the right idea ( that market can go anywhere )
To Live is the rarest thing in the world , Most people exist , that is all
  • #54
  • Feb 6, 2010 12:58pm Feb 6, 2010 12:58pm
Quoting maheswara
u did great ,
i see that u can improve only on 1 thing ,
when u think its wrong close half instead of the whole thing , that way if u r proved right but only mistimed a little u cld reinstate the half at a better price

but good job , its trending right now , but u have got the right idea ( that market can go anywhere )
yes, as an amateur, you may hold strongly onto the idea that the price will go a certain direction, and thus holding on to a losing trades.

its not about thinking it will go a certain direction. It is about thinking in probability. the probaility it will go up, and continually,in real time, recalculate probabilities. If you think it after some time, the probability of the price going your direction is 50%, you quit,because in your work, you dont want to guess. Manty traders hold onto trades, where they just HOPE the trade will go in their direction.
  • #55
  • Feb 6, 2010 1:03pm Feb 6, 2010 1:03pm
Woo,

Good job! You may have little data so far, but at this point you are doing good. There are many ways to make money in the market. If you have found a trading edge that works for you, keep trading it with great confidence. Beware of getting too cocky though. As with any trading strategy, no matter if it is scalping or longer term, the total keys to success, once you have a system that works consistently, are discipline and money management.

Someone here mentioned a trade management type indicator. One thing I might suggest is using an indicator like that will allow you to set a "disaster trade" type stop loss in case something bad were to happen in the markets or with your internet connection. It is obvious you monitor your trades closely so maybe you could set the trade management indicator to place an automatic 15 - 20 pip stop loss. It would all depend on your particular risk tolerance. In a scenario like that, if an emergency were to happen, the most you could lose on a trade at 5 minis would be $75 - $100. Yes, that is the equivalent of one to several good trades, but at least you wouldn't risk a huge loss. One other thing I do regularly is withdraw profits from my account. Say for instance your 2K account. Every time you reach $500 profit, withdraw that from your account. After four withdrawals you are break even with the bank, so to speak.

I for one know this type of trading to be a legitimate way to be successful in the forex market. Stick to your rules and keep trading the way you know best! I will be following your posts with interest.

Best of trading to you!

Coach
  • #56
  • Feb 6, 2010 1:09pm Feb 6, 2010 1:09pm
Quoting Coach1959
Woo,

Good job!...
Thanks very much for this post. I may hower be naive, but i will post my results in the future.
  • #57
  • Feb 6, 2010 3:48pm Feb 6, 2010 3:48pm
woo... keep trading. Let your results do the talking.
  • #58
  • Feb 7, 2010 7:02am Feb 7, 2010 7:02am
"If you have found a trading edge that works for you, keep trading it with great confidence."
How do you know if he's found a trading edge? 32 trades doesn't prove anything. I bet there are thousands of traders (most likely scalpers) who have had series of winners and then lost all of their profits after a few loosing trades or during a drawdawn period. I've developed hundreds of systems, all of them backtested for 5 year period each of them tested with different parameters (e.g. different stoploses, different targets). Many of them show series of winning trades but most of them also show a series of loosing trades at some point. E.g I just finished backtesting one system . It had 15 winning trades in row. This was with 20 pip target. With 10 pip there was even more winning trades in row, forgot how many. But then there was a drawdown period and equity curve was back to 0.
So, my point is if this can happen with systematic approach to trading, why cannot it happen with trading that is based on 'how you feel about the trade'. (Which, in my opinion, is equal to guessing or letting a coin toss to determine how to trade). I don't mean to discourage you, woo. I'm just informing you statistical aspects of outcome of your style of trading.
  • #59
  • Feb 7, 2010 10:03am Feb 7, 2010 10:03am
Quoting YeahBaby
"If you have found a trading edge that works for you, keep trading it with great confidence."
How do you know if he's found a trading edge? 32 trades doesn't prove anything. I bet there are thousands of traders (most likely scalpers) who have had series of winners and then lost all of their profits after a few loosing trades or during a drawdawn period. I've developed hundreds of systems, all of them backtested for 5 year period each of them tested with different parameters (e.g. different stoploses, different targets)....
to be honest, i think this post is utter shit

Yes, if you create a systemt, that randomly by or sell, with 200pip stop loss, and 3 pip take profit, you will see many series of winners.ĻIve also already commented in the thread that the worst thing is to hold on to a losing trade,and that i liquidate my positions fast so that i dont incur big losses.

i exit my trade, tp or sl, when i think it is most optimal. If you look, at my trades, my losses were 51 and 21, which is roughly the same size as my winners.

this implies, that i dont have stop losses that are 10 times bigger than my tp. Since TP and SL are roughly the same size looking at the data, 30 winners out of 32 trades, is very good.

Ive no idea how stupid you must be to draw the conclusion that ive a trading style with large stop losses and low tp. There is no hint to this, so you could at least been asking for more information if you suspect me of havin such an approch which statisctically would produce far more winners, but with 0 profit outcome in the end. But no, you draw the conclusion that my stop losses are much bigger than my winners, and that is the reason of my manny winners. Utter shit.

Posts like this is very discouraging, however, i know where are nice people writing here as well, with intelligent answers. Had many nice people writing here at forexfactory. Im actually very surprised how nice people are at forexfactory. I post a link with results of my iq, im taking up too much attention,and still,people are encouring me. Fucking amazing.
  • #60
  • Feb 7, 2010 10:25am Feb 7, 2010 10:25am
Is all of this abusive language really necessary?
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