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Better-than-the-wormhole 555 replies

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The WoRmHoLe

  • #5,741
  • Mar 26, 2010 7:05am Mar 26, 2010 7:05am
Quoting albchr
Yep... OUCH!
hey chris
I know bro, eu's been my kryptonite this week too .... NEXT!
Thank You
  • #5,742
  • Mar 26, 2010 7:14am Mar 26, 2010 7:14am
Quoting wormboy
By the way, would like to share to the new guys.

The trend is your friend

Bollocks. That saying is so overrated, don't buy into the hype.
Trading with the trend is just a safer way, it's not the only way.
So if you're learning, learn to counter trend trade as well. Very useful skill to have in the bag once mastered. Those tops & bottoms wouldn't be all to hard to pick when you know how. My 2009 trades were nearly 80% counter trend.
Some of my buddies here said my "buy" button that time was broken
But those counter trend...
Agree on this. Counter trading gives earlier entries that can give much bigger profits than jumping on a trend when probably will stop soon, if you use good money management on it, counter trading (like other strategies) can be very good.

I think we have to trade the way we have tested and has given results, not what we think should work.

For instance only buying/selling at round numbers going countertrend with small stop loss could give some great results, I've not tested it but just looking on historical data it looks good to me.

If we had a computer that could test our strategy and give the % of good and bad trades, we could put a mm on it and let it make money.
Counter trading with big stops, I wouldn't recommend...but that doesn't mean someone is not making money with it since I've not tested it yet.
"Hate the sin, love the sinner." - Gandhi
  • #5,743
  • Mar 26, 2010 7:17am Mar 26, 2010 7:17am
ams, i gave the wrong insight on yen. my bad, it's been edited.
yen is weakening more than sterling.

sorry for the hoodoo
Thank You
  • #5,744
  • Mar 26, 2010 7:23am Mar 26, 2010 7:23am
Quoting wormboy
hey chris
I know bro, eu's been my kryptonite this week too .... NEXT!
Yeah, currently getting stomped on EJ. Entry looked good when I took it off the 4H two bars ago.

http://www.forexfactory.com/showpost...postcount=1003

Right now I'm not sure If I should add another short up here to help offset the loss I'm in.
Ghost Rider - WWTBMD?
  • #5,745
  • Mar 26, 2010 7:24am Mar 26, 2010 7:24am
Quoting TheGabriel
Agree on this. Counter trading gives earlier entries that can give much bigger profits than jumping on a trend when probably will stop soon, if you use good money management on it, counter trading (like other strategies) can be very good.

I think we have to trade the way we have tested and has given results, not what we think should work.

For instance only buying/selling at round numbers going countertrend with small stop loss could give some great results, I've not tested it but just looking on historical data it looks good to me.

If we had...
Right, the dealers are on the opposite of the prevailing trend at all times. They never lose. They just accumulate.
It pays to learn to think like the dealers. Be prepared to be flexible, with trend or against don't matter
Thank You
  • #5,746
  • Mar 26, 2010 7:28am Mar 26, 2010 7:28am
Quoting albchr
Yeah, currently getting stomped on EJ. Entry looked good when I took it off the 4H two bars ago.

http://www.forexfactory.com/showpost...postcount=1003

Right now I'm not sure If I should add another short up here to help offset the loss I'm in.
But, why did you short bro? The candles were above all you mas
Thank You
  • #5,747
  • Mar 26, 2010 7:35am Mar 26, 2010 7:35am
Quoting wormboy
But, why did you short bro? The candles were above all you mas
Was going off horizontal S/R on the 4H and previous highs. Also, at the time, the YEN was getting stronger and the EUR bouncing off resistence.
Ghost Rider - WWTBMD?
  • #5,748
  • Mar 26, 2010 7:39am Mar 26, 2010 7:39am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
No worries matey!

I knew what you meant regardless of spelling mistake at the time. You are an experience trader so I don't expect this from you.

I analyze indices weekly for myself to base my trades on: http://www.forexfactory.com/attachme...4&d=1269244077

I noted the weekness in JY on saturday last week and posted it in advance. Unfortunately, I got rid of my GJ position soon.

Anyways, I think time to reap rewards is due for oyu. I've some doubts though. Just read that US debt will be 90 percent of gdp. It is massive and I reckon we are looking at dollar shorting in full force soon. I would like to keep an eye for cable @ 47700 where the bear trendline becomes death for cable. Weekly shows the trendline is touched but daily/4hr still has some space left and it could very well bounce from 147. Let's see.

ta
ams




Quoting wormboy
ams, i gave the wrong insight on yen. my bad, it's been edited.
yen is weakening more than sterling.

sorry for the hoodoo
  • #5,749
  • Mar 26, 2010 8:13am Mar 26, 2010 8:13am
EurUsd

1. short @3361 sl @3408 (0.2)


Time to exorcise the demon!!
Thank You
  • #5,750
  • Mar 26, 2010 8:46am Mar 26, 2010 8:46am
Quoting TheGabriel
Wormie those that for some bad trades think you're a bad trader are probably much worse traders.

Someone that has not understood that it does not take high percentage of profitable trades in order to be profitable, hardly can make any money.... I tried to achieve "perfection" thinking that high % is the key and I was ending up ruining a very profitable strategy.

ALL the profitable (even very profitable) traders have losing trades....when you try to avoid losses and be "perfect" you only end up beeing a much bigger loser....
Go ask Warren...
Gabe
i like your emphasis
IMPOSSIBLE to not Loose
way to go
cheers
  • #5,751
  • Mar 26, 2010 9:03am Mar 26, 2010 9:03am
bloody hell
Thank You
  • #5,752
  • Mar 26, 2010 9:07am Mar 26, 2010 9:07am
Quoting wormboy
EurUsd

1. short @3361 sl @3408 (0.2)


Time to exorcise the demon!!

Trade stopped out.

EurUsd

1. short @3361 stopped @3408 (0.2)

Thank You
  • #5,753
  • Mar 26, 2010 9:12am Mar 26, 2010 9:12am
Quoting wormboy
Trade stopped out.

EurUsd

1. short @3361 stopped @3408 (0.2)

bad day in EU its going up to hitting your SL only and then went down

Ub
  • #5,754
  • Mar 26, 2010 9:12am Mar 26, 2010 9:12am
Quoting wormboy
bloody hell

All must be perfect in Euro land. The summit has solved all. Greece has lubed the wheels (Pun intended) of the entire Europeean economy.

I enjoy your thread a lot.

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #5,755
  • Mar 26, 2010 9:13am Mar 26, 2010 9:13am
Quoting ubaidahsan
bad day in EU its going up to hitting your SL only and then went down

Ub
yes. got no game today. no more attempts on eu for me till next week.
Thank You
  • #5,756
  • Mar 26, 2010 9:14am Mar 26, 2010 9:14am
Quoting wormboy
Trade stopped out.

EurUsd

1. short @3361 stopped @3408 (0.2)

Hi WB, for me also, today this pair is not on my side, now no more trade, just keep my short on cable and dragon......
Trade with the momentum
  • #5,757
  • Mar 26, 2010 9:15am Mar 26, 2010 9:15am
Quoting Rufus
All must be perfect in Euro land. The summit has solved all. Greece has lubed the wheels (Pun intended) of the entire Europeean economy.

I enjoy your thread a lot.

Rufus
lol

hello rufus
Thank You
  • #5,758
  • Mar 26, 2010 9:17am Mar 26, 2010 9:17am
Quoting sailor68
Hi WB, for me also, today this pair is not on my side, now no more trade, just keep my short on cable and dragon......
aye .. i've not made anything today. Losing day atm.
Let's see what cable can do
Thank You
  • #5,759
  • Mar 26, 2010 9:18am Mar 26, 2010 9:18am
Quoting wormboy
lol

hello rufus

Glad to be here.

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #5,760
  • Mar 26, 2010 10:23am Mar 26, 2010 10:23am
Quoting albchr
Was going off horizontal S/R on the 4H and previous highs. Also, at the time, the YEN was getting stronger and the EUR bouncing off resistence.
EJ hit 76 fib retract of previous down move. possible short is possible
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