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  • #1,321
  • Aug 24, 2010 1:21am Aug 24, 2010 1:21am
hi graeme and to others,

i'm looking at a 5M chart of eur/gbp at critical level of 0.82 with triple wick rejection off the round number.

would u anticipate a short at this level?
but its against the main trend since there's a FB on the daily chart and trend has been up since morning.

or patiently wait for retracement since and go back long

greatly appreciated.
  • #1,322
  • Edited 5:25am Aug 24, 2010 1:31am | Edited 5:25am
Please present your trading to myself as structured below and email me:

Date: (first weekend)

Pair: (pair of currency you have chosen)




Attach 1 weekly chart showing clearly your interpretation. Trendlines, s/r.. anything





Reason: (reason why you chose the above pair of currency to focus)

Entries: (post the trading sheet from your platform. However, I would like to see at least 3 entries with charts on how you entered)
  • #1,323
  • Edited 2:03am Aug 24, 2010 1:40am | Edited 2:03am
I wish to take a step back for the moment from this thread to allow some space for the traders to stand on their own.

It is now time for you to 'just do it'

I earnestly look forward to many participants with the new assignment.

If the initial battleplan did not work out as intended after 2 weeks, start again and re-submit your new choice.

I will print everyone's submition for personal reference and will post successful attempts into this thread to show all. (I will blackout any sensitive numbers that you might have forgotten to)

If you have any questions please private message me or email me thank you.

I sincerely hope that this big push will be the start of a successful trading career to the some that I have managed to touch.

Edit: I will submit my battle plan over this weekend into this thread as a guide/reference

Godspeed

Sincerely,

Graeme
  • #1,324
  • Aug 24, 2010 2:10am Aug 24, 2010 2:10am
Quoting pipEASY
I wish to take a step back for the moment from this thread to allow some space for the traders to stand on their own.

It is now time for you to 'just do it'

I earnestly look forward to many participants with the new assignment.

If the initial battleplan did not work out as intended after 2 weeks, start again and re-submit your new choice.

I will print everyone's submition for personal reference and will post successful attempts into this thread to show all. (I will blackout any sensitive numbers that you might have forgotten to)...
Graeme,

Your generosity and willingness to help others simply overwhelms me.

God willing someday I will have the experience to be able to exhibit such generosity to help other traders.

I will definitely be involved in your 'assignment'.

Kindest Regards,

Michael
  • #1,325
  • Aug 24, 2010 2:34am Aug 24, 2010 2:34am
I will be participating in your assignment Graeme.
I will need to learn how to attach graphs and draw on them for you.
Currently have live account with ig markets but have only been demo trading there platform with your method.
As suggested by pip daddy and others micro account on £1000.00 account would help with money management.
I'am going to try fxcm,co.uk and alpari.co.uk as suggested.
look forward to e-mailing my progress for your valued comments and guidance.
I'll send hello e-mail to make sure its working ok.
I now have the tools,And intend to master them to the best of my ability.

Yours sincerely

Paul
making green pips large and red pips small this is my goal.
  • #1,326
  • Aug 24, 2010 2:42am Aug 24, 2010 2:42am
I'll take part too.
BTW, I never seen any anyone as generous and willing to take time, patient to teach fellow traders like you....a big Thumbs Up for you Graeme!!
  • #1,327
  • Aug 24, 2010 3:15am Aug 24, 2010 3:15am
Graeme,

I'm taking part in the assignment. Thank you very much for your teachings.
  • #1,328
  • Edited 6:11am Aug 24, 2010 4:53am | Edited 6:11am
Graeme,

I also want to be in one of the participants with your new assignment.
Looking forward.


Dimas
  • #1,329
  • Aug 24, 2010 5:14am Aug 24, 2010 5:14am
Graeme, I have never met somebody with such a big heart. Thank you, will definitely participate at the 2 week trading plan.

Attached my current soldiers... can you believe two weeks ago I had no idea what a pip was and today I have some positions entered on the 5m chart that lasted for two days ? It's surreal.
Attached Image (click to enlarge)
Click to Enlarge Name: soldiers.JPG Size: 47 KB
  • #1,330
  • Aug 24, 2010 5:40am Aug 24, 2010 5:40am
hi everybody.. i will also be part of the project ... hoping for good marks...lol cheers

jean
  • #1,331
  • Aug 24, 2010 5:48am Aug 24, 2010 5:48am
I'm not sure how many posts Junior Members have to contribute before they can participate in PM's and being privvy to other members' details.
As a junior member I am unable to email Graeme or PM him, and I guess there are others.
Is there a way we can contribute to this assignment other than displaying email addresses publicly?

Cheers, Rob
  • #1,332
  • Aug 24, 2010 5:50am Aug 24, 2010 5:50am
Hi All,
Just want to share with you that I have just come of the back of around 40
consecutive losses/breakevens. I only had one leg surviving after 2 weeks. In my defence a lot of my losses were from experimenting on 5 min timeframe. Then today all those losses were overtaken by 3 trades I managed to stack on GBP/JPY which have got me 500 pips of unrealised profit. I am not saying these legs will last the course, but it goes to show that as long as you try and keep your losses down even with some really sloppy entry's, sooner or later if you have persistence and patience you will come out on top. I admit I am still on demo and I will have more emotional hurdles when I do this on my live account. But at least I can prepare mentally for the possibility of many small losses before the jackpot comes

Looking forward to the assignment Graeme thanks for all your time.

All the best everyone


Regards,
Ben
  • #1,333
  • Aug 24, 2010 6:18am Aug 24, 2010 6:18am
Quoting pipEASY
Most important aspect of price action is that it gives a 'reliable' hindsight to which way the market might move.

When I mention 'reliable' it means not all the time but enough times.

It is very imporatant to interpret price action without any biased views.

It is also traders ability to control risk and prefer to use smaller hard stop loss but sensibly. Just above/below the next s/r is the most sensible. This is why inside bars are so attractive. Cause the price range of inside bar are usually small, traders...

wow !! this is all too much !
  • #1,334
  • Edited 5:01pm Aug 24, 2010 6:26am | Edited 5:01pm
Quoting Reverb
I'm not sure how many posts Junior Members have to contribute before they can participate in PM's and being privvy to other members' details.
As a junior member I am unable to email Graeme or PM him, and I guess there are others.
Is there a way we can contribute to this assignment other than displaying email addresses publicly?

Cheers, Rob
Hi Rob
Just use the email address that Graeme gave in his post above.
. Bearing in mind putting an email address in general posts on a forum is not really good prac. I hope you do not get inundated with too much spam Graeme!

Cheers

Antra
  • #1,335
  • Aug 24, 2010 6:48am Aug 24, 2010 6:48am
Dear Graeme,

You are great man and this is great tread. Please change your mail address in your post to pipeasy at yahoo.com. This is the way not to be discovered by spam machines (please do the same Antra in post 1334).

All the best.
  • #1,336
  • Aug 24, 2010 7:11am Aug 24, 2010 7:11am
I'm definitely on board. Thank you, Graeme, for all your efforts and encouragement.

Kevin
  • #1,337
  • Aug 24, 2010 7:13am Aug 24, 2010 7:13am
Quoting leggo
Hi All,
Just want to share with you that I have just come of the back of around 40
consecutive losses/breakevens. I only had one leg surviving after 2 weeks. In my defence a lot of my losses were from experimenting on 5 min timeframe. Then today all those losses were overtaken by 3 trades I managed to stack on GBP/JPY which have got me 500 pips of unrealised profit. I am not saying these legs will last the course, but it goes to show that as long as you try and keep your losses down even with some really sloppy entry's, sooner or later if you have...
Hello I too am still on demo but as soon as I'am confident with the method i will be going live.
Can i just add in live senario with small funds do you think we would be better to diversify one of the large legs to replinish our losses .
or just let all big legs run .we need funds to finance our leg attempts.

Early in the thread is it you who had a £500 account or am i wrong?
making green pips large and red pips small this is my goal.
  • #1,338
  • Aug 24, 2010 8:23am Aug 24, 2010 8:23am
Quoting paul1
Hello I too am still on demo but as soon as I'am confident with the method i will be going live.
Can i just add in live senario with small funds do you think we would be better to diversify one of the large legs to replinish our losses .
or just let all big legs run .we need funds to finance our leg attempts.

Early in the thread is it you who had a £500 account or am i wrong?

Hi Paul,
As a small account holder I have diversified early in order to preserve balance on my account. This is merely a precaution in the first few weeks. I also think a lot will depend on your broker and their margin routines. Alpari will let your balance go below zero if you have enough in unrealised profits until you have nothing left.
I do not know if all brokers allow this or all MT4 brokers or who else, but at this stage it seems a double-edged sword - trading like this - at least until you have several positions such that movements either way will not kill your account. Graeme also mentioned taking small profits to increase the SL and therefore the sustainability of the prime or primary legs.

Ray
  • #1,339
  • Aug 24, 2010 9:43am Aug 24, 2010 9:43am
Hi all,

Have been looking at the buddah's for a little while now. It is well out of my comfort zone (which I have heard can be a good thing) and I have done some analysis over the past few weeks and decided to place a trade short EUR/USD.

I have attached a chart with the trade.

Why do I like the idea of Buddah's. It is all about R:R which for those who have seen my posts in DIBs and my journal, I am a huge fan.

I have taken 30% off the trade at around the 15 pip mark, my initial risk was only 10 pips (hence the lower the 50/50 off). I will move my SL to BE if the trade works into so more profit.

Small risk trades may not work out well, you will in fact take a good number of losses however there are benefits in the sizable moves combined with a factor that your position size will hold more weight with less capital risk than with higher SL risk methods that have higher cap risks. You only need a dozen really great trades that can pay off over the years to appreciate it.

Chart attached for your amusement. Time will tell whether this trade holds given it was after the news release.
Attached Image (click to enlarge)
Click to Enlarge Name: First buddah.jpg Size: 183 KB
  • #1,340
  • Aug 24, 2010 9:51am Aug 24, 2010 9:51am
Quoting paul1
I will be participating in your assignment Graeme.
I will need to learn how to attach graphs and draw on them for you.
Currently have live account with ig markets but have only been demo trading there platform with your method.
As suggested by pip daddy and others micro account on £1000.00 account would help with money management.
I'am going to try fxcm,co.uk and alpari.co.uk as suggested.
look forward to e-mailing my progress for your valued comments and guidance.
I'll send hello e-mail to make sure its working ok.
I now have the tools,And intend...
I am not too sure on Alpari but from my experience FXCM's spreads are pretty ordinary. Oanda is a basic plaform but you will find that the worst major is GBP/JPY with a 3.0 spread and then GBP/USD with a spread of 2.1. All others are below 1.5 on average and USD/JPY and EUR/USD are 90% of the time (london and new york, cant vouch for asia as I am not involved at all) .9 which makes tight risk trading alot better. Also it allows you to trade to the unit with 50:1 leverage MAX which is perfect for small accounts. I have used a good number of platforms over the years and Oanda is one of my prefered but source them out and try them before depositing money.

Also FXCM has had in my month of experience a number of feed issues which others have complained about in the past.

RT
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