pipware.com

Looks likethe usd bounced of the trend line. Anyone have a snow shovel.

Yes, i like the new presentation very much!

Great to know that you and Nobi had a great Trading week. I hope to replicate your success in future, hopefully this year and not later than year end.
The trading videos are great. I guess that now you will be able to help us by sharing the videos while live Trading for your self. I have no doubt that you will pass the acid test which mr Cobra had set for you to increase the Trading account consistently.
Lets wait for more opportunities next week.
Cheers

Congratulation to your success yesterday.
I like the new presentation of your videos, very helpful, great work!
Have a nice weekend.

Stratman, I sent you a email thur pipware , when you get a chance, please give me your feedback,
Thanks
fishman356

Got asked the following on skype:


I base my trading on my own previous performance ie I keep track of my previous trading history. If you do this, you should be able to work out the following:

1) Win Ratio ... this is your number of winning trades divided by the total number of trades ie

number of winning trades
______________________

total trades

2) Average Profit Pips ... this is the average of the number of pips made per winning trade (including break-even trades) ie

total pips of all winning trades
_________________________

number of winning trades

3) Average Loss Pips ... this is the average of the number of pips lost per losing trade ie

total pips of all losing trades
_________________________

number of losing trades

These three things tell you exactly what your trading performance is. You will quickly see why you are losing money.

The win ratio could be typically 20-40% for a beginning trader and 60-80% for a very experienced trader.

Let's look at a absolute beginner that might have a 20% win ratio ie this person wins 1 out of every 5 trades. If the average profit pips (2) is 20 pips, then the average loss pips (3) can be no worse than 5 pips to break even. This person can't afford to risk any more than 5 pips per trade or their equity is going to reduce.

Let's look at someone with a 60% win ratio and average profit of 15 pips per winning trade. Over 5 trades, 3 will be winners making a 45 pip total. So the 2 losing trades can't be any greater than 22.5 pips to break even.

Comparing these two scenarios, you can see that the second person can risk over 20 pips per trade for a profit of 15 pips whereas the first person must win 20 pips but never risk any more than 5 pips per trade.

If you have seen any Craig Harris videos you know that the 'natural flow' of the M15 timeframe is swings of 30-60 pips (when news is not a factor).

An average stop might be 35 pips and average profit 20 pips. The 'break even' win ratio is 63%. So if you win 3 out of every 5 trades, you will be losing money consistently! You must be winning an average of 20 pips in 7 out of every 10 trades to be consistently profitable. Here's how to work this out.

35 x loss = 20 x win

win/loss = 35/20

win/loss = 1.75/1

so, the win ratio is:

win
________

win + loss


1.75
_________

1.75 + 1


= 0.6363

= 63 %

Hi Stratman,sorry for my stupidity but how and where do I get and download the 'font' for the mini charts.I would very much appreciate your help or anyones for that matter as I would very much like to have it.Many thanks P

Nice and clear explanation on the pip ratio matter.

Made a Word doc from it, saves me writing it again if a newbie asks me the same question.

Hello Stratman,
Thanks for your great efforts.
Would you please post your video into your webside for view?Because of Youtube have been blocked in China.Thanks.

Best Regards,

WCL
China

[quote=podgy;3438989]Hi Stratman,sorry for my stupidity but how and where do I get and download the 'font' for the mini charts.I would very much appreciate your help or anyones for that matter as I would very much like to have it.Many thanks P[/quote

Ok i've downloaded font with minicharts but get this.anyone help?

The font file is called 'stratman.fon'. It is inside the mini chart zip file that you download from pipware.com.

[quote=podgy;3439391]

[quote=stratman;3439405]The font file is called 'stratman.fon'. It is inside the mini chart zip file that you download from pipware.com.


Thanks stratman got there in the end

MINI-CHARTS ARN'T OVERIDING MAIN CHART AS IN PICTURE

I also get much the same as podgy's post 791. I have the font file however unsure what to do with it or place it. I have tried several times without success .
Help anyone ??

the font file need to be installed into your operating system (OS) ... not as scary as it sounds

The procedure is different for each version of windows. Best bet is to search google for how to install a font for your particular OS.

Example ... for XP, you paste the file into your c:\windows\fonts folder

Works like a charm...
Thanks a bunch

Here's what I'm seeing right now with Euro. Currently, I'm looking for a retracement up to the 50% fibo area to short again, which is 1.3805 on H4, and exactly 1.3800 on the Weekly.

Now, if we look at the last 300 candles on the H4, it's a clear downtrend, however, if we look at the weekly, we can see clearly that it is still in its upward movement, and this downward movement we've been having since November 2009 looks like a correction/retracement/pullback (all three name means the same lol) of this upward movement. Another words, our medium term trend is down, however, our long term trend is up.

Here's the thing, price already broke through the Weekly 50% fibo for me, meaning that it might be possible for price to go down further to reach the 61.8% fibo on the weekly @1.3482 before reversing back up into its uptrend movement it has been in since February 2009. Therefore, the Euro might still have some room left for us to short this pair until it reaches that price, but once it gets close to the weekly 61.8% fibo, we must stay back and just watch PA's reaction to this level before we can decide what the next move might be, as if price breaks this level, it could mean all the way down to the 1.2456 level, which was last seen when this Weekly uptrend started in February 2009, and it'll be a major level there, as it would make this a Weekly Double Bottom, so if it does go down that far, it could mean even more strong downward movement if it breaks the double bottom, or back up to the upside again if it doesn't.

For my medium term plan, I am still looking to short the Euro, but a retracement needs to happen to form that HL before I will short it again. A good spot to short again would be the 1.3800 level, with reasons explained earlier. But we must watch the PA's reaction at this level before we can short, another words, watch to see if PA breaks this level or bounces off once it reaches there, don't place a short right away before you watch the price's reaction to this level. If PA breaks this 50% fibo level by going above it by at least 50 pips and never coming back down again, that means it might have regained its strength to go back into its Weekly uptrend movement, and doing a short then would be crazy, we would then wait and see if the Euro might have regained its Weekly uptrend movement. If it breaks through, and goes above the 50% fibo by at least 50 pips, and then comes back down through the 50% fibo, that to me means the downtrend might still be in control, and we might be looking at another downward movement, which after it goes below the 50% line again by at least 50 pips, that's where I would be placing a short, as to me, that means the 50% has held. Same for a bounce off the 50% if price never breaks through it, wait for price go go back down at least 50 pips before placing a short to make sure that 50% fibo has held.

For me, I would be using a 100 pips SL (3% risk overall, for example, $10,000 account using 0.3 lot size with 100 pips SL = $300 = 3% of 10,000 = 3% risk exposure) with a TS (trailing stop) 50 pips in place, no set TP as the trade will close when it hits my TS. We'll see what happens, but this is what I will be watching for this week. (unless price just keeps going down from here without a retrace from this point lol) I'll also be watching the H4 Resistance drew by the Dashboard's Fractal @1.3742, which also happens to be around where the 38.2 fibo is at, as that alone might stop the retrace up and a possible re-entrance for short might happen there.

Dear Nobitachu,
I like yr explanation on how to look at this Eur movement thru fibo. Clear and can be understand as English is not my first language.

Thank you.
mamiawinyana

Thanks, I always try to keep things as simple as possible, such as my trading style, less stressful too lol.

There's one theory I really want to test out right now with the Dashboard in terms of using it on the higher TF charts. Usually, if I'm looking for an entry to enter a position, I'll more often than not use the 50% fibo area as my possible entrance. However, I want to test the Fractal S/R levels produced by the Dashboard.

A possible test setup would be the Euro H4 chart right now, where the H4 resistance line is currently @1.3742, and I see that's also around where the 38.2% fibo line is @1.3753 on my chart. In this case, would it be fine to look for a possible short from this area as the 38.2% fibo (which is also a strong reversal line like the 50%, although not as strong) has made the H4 resistance line even stronger? In that case, once price reaches this level, I will look closer at how the PA reacts to it, and will short from here if PA confirms with me. I want to test how well this theory would work, how strong this line becomes if the Dashboard's S/R combines with a major reversal fibo line. Of course, only trade with the trend, never against.

I've seen it happened twice last week, one with EJ, and the other with Cable, both took a nice 300-500 pips drop after retracing back up to the line. Of course, the bad Euro news these days might have helped as well with this sudden downward movement we've been having, but at least on the tech side, I've seen it worked out very well. However, the EJ Dashboard Fractal Resistance line was lined up with the 23.6 fibo, not the 50 or 38.2 fibo, reason why I didn't enter on that short, but saw it fall over 500 pips afterward within the next 48 hours.

I have included a new chart as the Dashboard's Fractal S/R lines on 4H has changed.

Thinking a short may be in the works, waiting for price to break the aqua colored support line of 1.3667