The Dance

Couldn't have said it better yunie, crap does happen. Just happens less and less often with this strategy. I have found that the more strictly I stick to the rules, the less "failed" trades I have pip wise. You'll get there my friend, and a lot faster than you would think. ESPECIALLY IF you will spend some time in the Simulator. YOU WOULD BE AMAZED how fast that will help you "see" things clearly!

Yep, everything's fine. just a bit of running around I had to do. thanks for the concern though.

No worries dane. Good entry by the way. NOW,,, make the post perfect by editing it and posting you're exit and reasoning so we can all take a look, learn and help if need be.

Funny,, that purple moving average on your H4 chart will hit price almost exactly where the D1 10 does. If possible, please use the D1 chart when you post instead of H4. H4 is fine for you personally if you want, but let's try to keep it all consistent. Oh, and same with the purple MA. Looks like the 21. Reason I don't use it is that even though I get into some trades a bit later, not using it makes the entries of The Dance stronger. The 21 adds a few too many entries and give one a false sense of ability at times.

Remember, simpler is definitely better.

I am watching the H4, and will brainstorm with Endroute a bit and perhaps there is a place for it in the Strategy, but I want to be careful, VERY careful about making ANY changes to what clearly and plainly works.

One more set of things to do today, then I'm on later tonight during the Asian probably to try to catch a move somewhere.

I think I may have finally caught the perfect Dance Trade...

EU 15M long trade. We have a 2 bar pullback to the 35/50 and a rejection. I entered at the break of the red bearish candle (1.3520) and exited at resistance (1.3545) for 25 pips.

Good trade Dave. Waiting until the "break" of the previous bar is OK, it gives a bit of "confirmation," but it also takes away some pips. I know it's just a case of confidence, but as time goes on, you and everyone else will start nailing these types of entries "dead on" and the results will be pretty staggering for you.

When I follow the rules, EXACTLY, my success rate approaches +80% on entries, and the % of increase in the account would shock most, so I won't even talk about it here. Besides, I am STILL working on not giving back what I gain, by following the rules.

One of the things I am working on is not believing that I am infallible on the next trade. When I am nearing that +80 to +85% success rate, it becomes easier and easier to ignore the rules and take trades that "almost" are perfect and THAT is what causes me to give money back. THAT IS ALSO WHY I am so extremely strict about consistency in this thread.

Keeping it to the rock solid basics of this strategy can literally make one wealthy, the main problem is it also becomes so very easy to think you can't make a mistake after making 8 amazing trades in a row. One tends to think they can "read" the market beyond the basics.

Now, don't get me wrong here, there ARE "Advanced rules" that have been very, very briefly mentioned in passing, BUT we will NOT be talking about them in this thread until there are a lot more people who have mastered the basics.

THEN and ONLY then will we begin exploring more advanced rules that give more signals and can help you make many more pips each week.

More later, I'm toast for today. Have another "task" tomorrow, then I'm done with that stuff for a while.

THEN, I will be able to settle into a more consistent role here again.

Great work today guys,,, just awesome.

This chart looks at the current move and the recent D1 "Touch," which appears to have happened. I would expect it to continue down a bit, but would really be looking for a constrainment entry short here, not a "touch" but as we all know, anything can happen.

The reason I wouldn't look for a trade except for constrainment here is that the 35/50 lines are about 20 pips separated and that gives room for "ping pong" P/A, but NOT enough to really take a trade yet.

I really would wait for and expect the lines to narrow more on M15, and begin to look for a constrainment entry around here somewhere, and probably a short.

God bless, here's the chart.

Ok,,, let's clear up what you are thinking about this P/A RIGHT NOW in the charts.

Here's a chart.

Just to update everybody on my trade today:
1. Very nice touch of H1 - 50 EMA
2. The same touch was just 5 pips overshoot of M15 - 10/50 confluence
3. The same touch was also M5 - 35/50 confluence. My entry was fine-tuned using this M5 signal

My exit was just short of Daily Pivot since I achieved my daily target of 30 pips. The attached image has the same trade shown on all three TFs (M5, M15, H1)

Kostas.

P.S. I know this is getting lower for more pips but again achieving the daily target is good enough for me. Done for the day!

Hi All,

I've got a several questions bugering my mind regarding simulator practicing.

1) Is there any way to filter the past news times in simulator?

2) The simulator plays only one chart(only one time frame at a time) The system needs 15min,1Hr and daily charts to filter the entry.Is there anyway to play all those charts simultaniously? I ve seen some other paid packages which we can play several charts same time.

Anybody ? any ideas?

Happy pips

Suranga

Hi Suranga, There is no way to filter the news, and now way to use three charts. THAT IS PART OF THE POINT of trading in the Simulator. IT'S HARDER, a LOT harder than trading live and it makes trading live a LOT easier to do.

Eventually, if you practice in the Simulator enough, the "live" trading will become really, really BORING, then you have "arrived" where you need to be to actually trade profitably all the time. BORING TRADING IS PROFITABLE trading because you have mastered the emotions of trading and they no longer bother your decision making process.

IN ADDITION, I have been noticing that on MANY occasions, P/A (i.e. "the market") seems to have already taken into account what the results of the news will be and begins to "setup" for a move in that direction.

This DOES NOT mean I want to, or even encourage news trading, IT DOES mean that I often forget to watch for the news, and most of the time it's doesn't bother my trading much at all.

The Simulator is a practice, nothing more and like ALL practice, it is NOT complete in any way.

Here's the funny thing though, I was practicing in the Simulator for a while and then one day I got really "pissed" because nothing was making any sense. So I took off ALL the things on the chart, no indicators, no lines, nothing but the candlesticks,,, and I did really well! I was stunned.

THAT was when I knew I was starting to understand trading.

The whole purpose of the Simulator is to "force" you to focus on ONLY what's in front of your face as you trade. You are "forced" to ignore news, to ignore higher time frames, to ignore trendlines, fibs, anything that so many use that really only detract and distract from the actual trading.

THE BEST "filter" you WILL EVER have is your own eyes, brain and "intuition," none of which you have ever really used in trading before. You, I and almost every other trader on the planet have been caught up in all the "eye candy" for so long, we never developed what God gave us to trade with that almost never fails.

When you go back through the charts, don't you find yourself saying, "I SHOULD HAVE SEEN THAT" or "HOW DID I MISS THAT ONE" or any of a hundred other things that become "clear" in hindsight? Of course you do, so do I and so does every other person on the planet.

NOW,,, let's apply this to "live" trading. When you drive a car down the road you don't go crashing into every possible obstacle there is, you don't run over people, forget to turn every time and so on. Why? Because your "mind" your "subconscious" FILTERS all that info into usable information upon which YOU make decisions from YEARS of experience.

You instinctively KNOW when to start the turn, to slow to a stop, to wait EVEN IF YOU HAVE THE RIGHT OF WAY, to accelerate, slow down, and even how to avoid MOST emergencies AS THEY HAPPEN! Trading is NO DIFFERENT, we just don't have the "years" of experience yet.

Simulator trading gives you that.

SO,,, quit worrying or even thinking about the other two charts, the news, anything but what is on the chart in front of you and just trade. Make it like a video game and learn to "play" or "have fun" with the simulator.

The Military has learned that in teaching soldiers to use video games that simulate combat, they can become much "sharper in the field" than by throwing them into live combat to gain experience.

Same thing in trading. If you did NOTHING but sit there and watch the simulator churn out the candles, YOUR MIND would be learning what to look for and keeping a record of EVERY SINGLE CANDLE you see and how it impacts the price movement. Even that simple exercise would improve your trading.

SO,,, bottom line, HAVE FUN in the Simulator, learn to ENJOY it and to USE it to master The Dance in "real time." Then when you are actually trading, things will simply go "click" and it will amaze you.

God bless

Good trade Kostas1. Now for some fine tuning of the exit. NOTHING wrong with taking your daily goal and stopping. BUT, using the pivot is the wrong way to "get there".

I believe I said in an earlier post that when the 35/50 lines are spread fairly wide, the "target" is usually the other line on a bounce. I know that I have also said NOT to trade the "Ping Pong" area between them yet, that's for "advanced rules" a lot later, BUT there is a way to use that concept.

In this post #285 (http://www.forexfactory.com/showpost.php?p=3574723&postcount=285) I showed that on H1, the "distance" was around 50 pips between the lines on H1. THAT IS enough room for a strong trade. SO,, your entry on M15 was perfect, if you had used the H1 35 as the target you would have gotten more pips and price did indeed go to the 35 and beyond.

STILL, great "by the rules" trade.

Dane, I forgot to make a comment on your chart that I need to make. Most of your analysis is spot on my friend and pretty good. On your first potential entry marked by an arrow, you are right that the risk was too high for that to be a long trade, but there is a rule for this one.

"the 35/50 lines determine the trend" and they are still angling short, not long at that point. At the very most they could be seen as horizontal which means "stay out" for the most part. In addition, the little green "pin" is not "by our rules" in the manual for P/A and both it and the next bar open and close below the 10 and the 35, so it is a possible begin of a constrainment short.

The wicks of those bars are each shorter than the previous, so we are actually getting conflicting information at that point. SO at that point, you were right to pass on the trade. At point two where there isa nother little pin bar, it signals the beginnings of the reversal because of P/A,,, the 35 is also starting to turn up at that point. It is a two bar" retrace to the 35 and I would have been tempted to take that one at it's "touch" with a VERY tight SL of about 7 pips as that is worth the risk of 7 pips, at least to me.

Good analysis though.

Not entirely but i've really improved in this area of late

Clay

Can you tell me, on average how long does it take to load data for the simulator? My screen is just sitting there "waiting for an update" and has been for quite some time.

I would not think that it should take this long to load past data.

Thanks

Mike

You may need to go to the history center and download the history for the currency you want. I had to do that. And you can also increase the "bars in history" area as well.

Just go to Tools -> History Center and download what you need from MetaQuotes, don't worry that it might be slightly different from the data feed of your borker, it's close enough.

Then go to Tools -> Options, click on the Charts tab and change "Max bars in history" to something like 10000000,, that's what I have it set to. Then it'll work, but sometimes it does take a minute or two, depending on the time frame you will be working with.

Me too Trotty, me too....

Just wanted to thank you so much for sharing your wonderful system, which has bagged me 20 pips today. I can put up the charts and see very clearly if there is a trade about to burst forth, it is a dream. No more hours and hours on my days off work staring at the screen while my eyeballs fry. This system will work nicely with compounding, so one will not need to get hundreds of pips to be a success.

Once again, thank you, thank you. Selfless, sharing people like yourself give hope to struggling traders, and I am one of them.

Bless you and happy trading.

Thanks for you help...it is now working and i am on my way to mastering the method.

mike

Thank you for the kind words Pospips. The reason I started this thread was because I RECENTLY was struggling like all newbies do and though I read tons, researched tons, it wasn't until I found someone willing to "share" what they knew SIMPLY with me that I began to understand just how truly simple trading REALLY is.

There are tons of "gurus" and "experts" out there who will teach for a price, but I didn't have the hundreds or thousands of dollars anymore to go that route. Probably for the best too.

I knew there was a simple way and to be honest, there are probably simpler ways than this to do it too, but I couldn't find one that was documented enough for me to understand and grasp, or trade consistently. There always seemed to be some 'secret sauce' missing that (of course) had to be paid for.

This strategy simply works. The BEST part of it is that the more I use it personally, the better I get at taking really, really good trades and learning to stick with them for the larger moves.

I still have some work to do to get to where I need and want to be personally, but now at least I can "see" that endpoint. Which really is the true starting point. The place were my "earnings" begin to exceed my "costs" in life completely, once again.

Was there once before and through some mistakes made by others that affected me, I lost it all. NOW, if a borker steals from me, I simply move and keep growing. If the government decides to mess with leverage, I simply move. If the WHOLE forex industry closed down tonight, I would simply take what I know of this strategy and apply it to stocks, bonds, spot gold or oil or other commodities and move to that venue.

NO ONE will ever again be able to destroy what I am building. THAT my friends is true freedom, not the money that comes with it.

That is the reason for this thread. The ONLY reason for it and I am happy beyond words that so many are benefiting so soon from it.

Pospips, if one compounded a 20 pip daily gain over a year, they would have a million in the bank assuming no losses and no withdrawals. Assuming they DO have losses, and they will, they will STILL make more than through any other activity available to the "normal" person.

THEN, when they get really good and can nail moves consistently generating +200 to +400 pips a week, generating income of +7 figures (millions) per year is a VERY achievable goal.

Glad it's helping you.

Awesome Mike. Glad to be of help.

AND, just for the record, I have only made TWO trades in the past few days, and am +2.4 % for the week SO FAR. I took the last one at the recent "touch" of the H1 50 EMA and exited +15 pips when the M15 bars seems to be unable to break below the RN.

I did use a little larger SL than normal,,, the standard -19 of the scripts because it was an H1 touch and those aren't always clearly visible on the chart setup I use. Need to find a way to clarify that issue without creating any new issues.

But, in short, even with all my running around (still have one more task for today in an hour or so) and with all the comments on the thread, I MADE + PIPS with this strategy and didn't have much time to even look at the "live" charts.

It simply works. Keep it simple, and you simply WILL make it.

The HARDEST part of this strategy is un-learning a lot of the crap and keeping it simple.

Thanks for the advice Clay. I like this "advanced rule".
Next time I will keep an eye on it.

Kostas.

P.S. So far I have a streak of 7 no-loss days (meaning that I finished the day positive and not that all trades were winners). These days were from 3%-9% growth per day. I don't expect this to last for ever but I enjoy it while it lasts. I like the method and I will do my best to maintain the negative days to a minimum

Kostas, why don't you expect it to continue? It can. It only depends on whether or not you stick to the basic rules and MASTER them. THAT IS THE ONLY question about "will it continue."?

As for keeping negative days to a minimum,,, the strategy will do that for you if you stick to the basics.

Good work. Keep it up.