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  • #261
  • Jan 26, 2006 3:45pm Jan 26, 2006 3:45pm
HI,

million thanks for showing me your real sportsmanship and your respect for the rules of posting in a friendly way. and i won't be offended of what you said
because i have self-confidence .

what's wrong with you Johnfx? did i annoy you? why? cause i post my comments and opinions ?LOL, do you still remeber my first post? i didn't mean to bother you when i had joined your thread ,,did i?i meant to share my OWN TRADING ACTIVITIES with every member and i had stressed {this is for informational purposes only i dont ask any one to follow my forcast). you must misunderstood me , you are bothered 'cause i post my right forcast for price movements ,aren't you? .you must have considered it as annoying or interferance in your price magnet strategy.

but i must assure you my forcast is not targeted at any memeber to follow 'casue it's a long term strategy and not a scalping strategy.

i was posting my opinions and never ever expected you will be annoyed or hurt like this.

dont be mad Johnfx ,i won't post again here .


thank you again.

forexer.
I always knew that someday I would make it big
  • #262
  • Jan 26, 2006 4:03pm Jan 26, 2006 4:03pm
Quoting forexer
HI,

million thanks for showing me your real sportsmanship and your respect for the rules of posting in a friendly way. and i won't be offended of what you said
because i have self-confidence .

what's wrong with you Johnfx? did i annoy you? why? cause i post my comments and opinions ?LOL, do you still remeber my first post? i didn't mean to bother you when i had joined your thread ,,did i?i meant to share my OWN TRADING ACTIVITIES with every member and i had stressed {this is for informational purposes only i dont ask any one to follow my forcast). you must misunderstood me , you are bothered 'cause i post my right forcast for price movements ,aren't you? .you must have considered it as annoying or interferance in your price magnet strategy.

but i must assure you my forcast is not targeted at any memeber to follow 'casue it's a long term strategy and not a scalping strategy.

i was posting my opinions and never ever expected you will be annoyed or hurt like this.

dont be mad Johnfx ,i won't post again here .


thank you again.

forexer.
*Shrugs*
What it is about, forexer, is simply forum netiquette! You just don't hi-jack someone else's thread with apparently unrelated information. If you wish to call your own targets, promote your own system, you start your own thread...

Simple as that...
  • #263
  • Jan 26, 2006 4:10pm Jan 26, 2006 4:10pm
Quoting CescoAiel
*Shrugs*
What it is about, forexer, is simply forum netiquette! You just don't hi-jack someone else's thread with apparently unrelated information. If you wish to call your own targets, promote your own system, you start your own thread...

Simple as that...
Thanks, Cesco. I just got pissed off the way he was starting to mimic me and creating confusion.

Thanks Merlin or Dial, whoever it was that moved and renamed this thread. I really appreciate the quick response.



John
  • #264
  • Jan 26, 2006 4:26pm Jan 26, 2006 4:26pm
Quoting JohnFX
Thanks, Cesco. I just got pissed off the way he was starting to mimic me and creating confusion.
YW! Sometimes it is better to clamp your teeth together and count to 10.000 and hope someone else, who is less involved, responds first!

Being a moderator on a few lists, I've seen my share of flames and received more than my share of abuse. You develop a rhino skin after a while!

I've been too busy the last two weeks for active trading, but will hopefully be back at it next week. I'll be tracking your thread more intensively then!
  • #265
  • Jan 26, 2006 9:10pm Jan 26, 2006 9:10pm
Hey all the posts are back.


Thanks Merlin.

John
  • #266
  • Jan 26, 2006 9:18pm Jan 26, 2006 9:18pm
Update: 1/26/06 10:15 PM EST


EURUSD targets: 1.2245 & 1.2265

USDJPY targets: 116.43, 115.91, 114.83 (old )
JohnFX
  • #267
  • Jan 26, 2006 11:41pm Jan 26, 2006 11:41pm
Quoting JohnFX
Update: 1/26/06 10:15 PM EST


EURUSD targets: 1.2245 & 1.2265

USDJPY targets: 116.43, 115.91, 114.83 (old )
JohnFX
USDJPY 116.43 target hit at 12:38 AM EST 1/27/06

JohnFX
  • #268
  • Edited 3:37pm Jan 27, 2006 3:36pm | Edited 3:37pm
Quoting JohnFX
Update: 1/26/06 10:15 PM EST


EURUSD targets: 1.2245 & 1.2265

USDJPY targets: 116.43, 115.91, 114.83 (old )
JohnFX
Crazy Friday for FOREX. Price came close to the 1.2245 target, not not close enough. The only USDJPY target hit was 116.43 (as I declared in previous post). I leaning towards just doing the magnets for EURUSD starting next week. So the above targets will be invalid now and I'll start fresh next week. I had a tremendous day and last night (Asia & EU & USA session) in my scalping. I don't have time to give details right now. I'll say more in the next post.

Have a good one, all.

JohnFX
  • #269
  • Edited 8:03pm Jan 27, 2006 6:17pm | Edited 8:03pm
Quoting JohnFX
Crazy Friday for FOREX. Price came close to the 1.2245 target, not not close enough. The only USDJPY target hit was 116.43 (as I declared in previous post). I leaning towards just doing the magnets for EURUSD starting next week. So the above targets will be invalid now and I'll start fresh next week. I had a tremendous day and last night (Asia & EU & USA session) in my scalping. I don't have time to give details right now. I'll say more in the next post.

Have a good one, all.

JohnFX
As for my scalping, this is what you call real "Hard Core" scalping. I was sorta trying out a new technique. I think I probably traded about 10 hours or more. Not sure of the total time spent in front of my computer. I used my "real money" account but I didn't have a position larger than 1 mini and I even did some fractional mini-lot trades. The results were:

(122 trades) 103 winners 17 loses and 2 B/E. for 86% win percent.

All trades were EURUSD

Net profit: $134.30 Total NET PIPS was: 314

Now the bottom line profit wasn't anything to brag about because as I said I never used a position larger than 1 mini lot. But you can do some math and figure out if I was trading several lots per trade what the bottom line could have been. I have to think about how I am going to describe my technique since it involved no indicators. I just used a 1 min. candle chart. And of course I must be able to reproduce these results on a regular basis. My point of this is, like I've said in the past, scalping can be done profitably IMO.

JohnFX
  • #270
  • Jan 28, 2006 10:50am Jan 28, 2006 10:50am
Quoting JohnFX
As for my scalping, this is what you call real "Hard Core" scalping.
snippage
I have to think about how I am going to describe my technique since it involved no indicators. I just used a 1 min. candle chart. And of course I must be able to reproduce these results on a regular basis. My point of this is, like I've said in the past, scalping can be done profitably IMO.

JohnFX
Well John, you know for some time I've been going at this short term stuff and I've been "losing indicators" along the way. Lately I'm just using Camarilla pivots and looking for pinbars. I just can't seem to get comfortable on less than the 5 minute time frame. And I didn't have the nerve to trade anything on Friday!!! All those pips and no guts.

I look forward to hearing more on your techniques. If nothing else, you keep me inspired to keep on workin'.
Don Life is expensive, but includes a free trip around the sun.
  • #271
  • Jan 28, 2006 12:01pm Jan 28, 2006 12:01pm
Quoting JohnFX
As for my scalping, this is what you call real "Hard Core" scalping. I was sorta trying out a new technique. I think I probably traded about 10 hours or more. Not sure of the total time spent in front of my computer. I used my "real money" account but I didn't have a position larger than 1 mini and I even did some fractional mini-lot trades. The results were:

(122 trades) 103 winners 17 loses and 2 B/E. for 86% win percent.

All trades were EURUSD

Net profit: $134.30 Total NET PIPS was: 314

Now the bottom line profit wasn't anything to brag about because as I said I never used a position larger than 1 mini lot. But you can do some math and figure out if I was trading several lots per trade what the bottom line could have been. I have to think about how I am going to describe my technique since it involved no indicators. I just used a 1 min. candle chart. And of course I must be able to reproduce these results on a regular basis. My point of this is, like I've said in the past, scalping can be done profitably IMO.

JohnFX
If you decide to describe it in detail, count me in! I like an active trading style and scalping would be a nice - and if done properly profitable - way to spend the time while waiting for good setups on longer timeframes...
  • #272
  • Edited Feb 5, 2006 12:36pm Jan 29, 2006 11:22am | Edited Feb 5, 2006 12:36pm
I'd like to point out a few of my beliefs regarding the FOREX market with regards particulary to short term traders (trades lasting a few minutes to a couple hours). What can make it hard doing this type of trading is that most of the time IMO, you are trading against a computer and its well designed and written software which resides on the liquidity provider's server. As far as who the liquidity provider is? It depends on your broker. Most retail brokers are the liquidity provider thenselves and the one's who have STP pass it on to another liquidity provider which can be a bank, MM etc. Regardless, the final holder of your order has a main intention to take you out of your trade with a loss, which is their gain. As far as longer term traders, then they try and take out stops. Especially when a lot of stops are clustered in the same price area (hence the term "bucket shops"). IMO, these are the realities of retail FOREX. I believe the figure of 1.5 - 3 trillion a day volume (or whatever they are saying it is now) is just a "hype" figure used for marketing purposes. Notice how every FOREX marketer whether it be a retail broker, system seller, signal seller always includes the volume figures in their advertising. I'm not saying that this amount of currency isn't exchanged every day, what I'm saying is that most of it isn't at the retail level and probably a lot of it's what I would call "phantom" trades. The trades the MM's, retail brokers, etc., create to move the market against the very short term traders. Remember this is IMO, and I know a lot of traders will disagree with me, but that's fine.

Now regarding my scalping adventure this past Friday, this is what I did. Did you ever notice how when you take a position, the price usually immediately starts to move against you a few pips? IMO, thats the software that I mentioned above starting to trade against you. Of course this happens the most during periods when real volume is low. But it is hard to tell what is real volume. Like I said, IMO, the MM's create "fake" volume. It's all a game. Well my technique Friday was to "lure" the software trading against me. Example: The very short term trend appeared to be up on the 1 min. chart and I want to go long for a quick scalp. I enter a very small lot, say 1/5 (.20) of a mini lot ( and yes I noticed the MM's computer will move price against you on such a small position). The MM's computer immediately moves price down a few pips against me. So, I long another 1/5 mini and the price moves against me again. I do this process 4 or 5 more times and on the last one enter a larger sized position like a full mini lot. You see what the MM's software is trying to do is force or "scare" you out of your position. But at a certain point, since the move is fake, it has to go back up to where it started or close to it. I've noticed these fake moves can be up to 10 pips, although I don't have an exact figure yet. That requires more study. So when the fake move is to its limit, that's when I enter my full position and when price returns back up I close out the small "lure" postions at B/E or small profit and my main position which I put on at the bottom of the move results in the bulk of the profit. Now I'm not saying these fake moves occur just on my trading platform. My charts are feed by a different feed than my broker which is InterbankFX. So the whole market is actually moving with these fake moves. There are people who are going to say I'm crazy, but I saw it with my own eyes very often during asia and europe/london this past Friday. And I've alsonoticed this occur many other times. I was also watching a third chart, NetDania which is FXCM fed and they all moved together.

The technique I described above would of course be the opposite, if looking to go short instead of long. You lure the software with small positions then throw on the bigger position for the return move. Of course I have to try using this method many more times to see if it will work consistantly. And it should only be used when the market conditions exist for this type of strategy. Going back and looking at my statement I also see that I made some profits on the GDP move during NY. I made so many trades and was trading with not much sleep that I have to look over my statment to remember what I did.

I have a copy of my statement from Friday on my webserver for anyone who wants to take a look at it. I may be the one of 1st, or one of very few on FF to post a real-money acct. statement of actual trades. I have "XXX'd out my acct. number and last name for privacy reasons. Here is the link.

http://www.jajr.com


Thanks;

JohnFX
  • #273
  • Jan 29, 2006 1:21pm Jan 29, 2006 1:21pm
Interesting theory. Looking forward to hearing about your future results using the same technique.
Always wait for the opportune moment… just be careful not to miss it.
  • #274
  • Jan 29, 2006 2:16pm Jan 29, 2006 2:16pm
JohnFX, Thanks for sharing your strategy. Kind of a micro averaging down. I also use IBFX and have noticed the price discrepancy between them and strategybuilder (demo) is usualy 2-3 pips. Friday I did see a 10+ pip diffrence and have seen it go as high as 20!!!
I have to agree that the brokers goal is to transfer your account to their account. The spread is not enough.......they want it all.

Hey that is a lot of work for those pips. You earned every single one. Does scalping just fit your "style"? I think (and am sure you know) you would be much better off using your magnets and developing a longer term, more profitable strategy. BTW I am going to miss the yen magnets but I understand that doing all that scalping leaves very little time for much else
Forex Trading: The hardest way to make easy money.
  • #275
  • Jan 29, 2006 2:22pm Jan 29, 2006 2:22pm
Quoting Norbecker
JohnFX, Thanks for sharing your strategy. Kind of a micro averaging down. I also use IBFX and have noticed the price discrepancy between them and strategybuilder (demo) is usualy 2-3 pips. Friday I did see a 10+ pip diffrence and have seen it go as high as 20!!!
I have to agree that the brokers goal is to transfer your account to their account. The spread is not enough.......they want it all.

Hey that is a lot of work for those pips. You earned every single one. Does scalping just fit your "style"? I think (and am sure you know) you would be much better off using your magnets and developing a longer term, more profitable strategy. BTW I am going to miss the yen magnets but I understand that doing all that scalping leaves very little time for much else
Thanks for the comments. Yes it was a lot of work, especailly since I had had I think about 3 hrs of sleep in a 24 hour period. Oh I'm definitly sticking to the Magnets. I'm thinking about maybe just doing the EURUSD, but we'll see. But I also still like to scalp, so I'm always looking for opportunities there also.

Thanks;
JohnFX
  • #276
  • Jan 29, 2006 10:43pm Jan 29, 2006 10:43pm
Ok here is a fresh new magnet target for usdjpy.

1/29/06 11:43 PM EST currently usdjpy is at 117.35

Headed for 117.21 then 117.01

JohnFX
  • #277
  • Jan 29, 2006 11:14pm Jan 29, 2006 11:14pm
Ah, pleased you are continuing with the JPY....

Wasn't Friday bizarre? As a newbie, I hate days like that, nothing seems to make sense so I think the trick is to stay well out of it!

Here's to a good week...

Jacquie
  • #278
  • Jan 30, 2006 2:24am Jan 30, 2006 2:24am
John,

Looking at the report I see you performed alot of small lot buy orders, but sometimes you throw in one or more sell orders.

Can you elaborate a bit on that?

Then around 15:00 you apparently go in for the kill, buying 1 lot (losing), twice selling 1 lot (going against your apparent lure strategy) and making money, twice buying and making money, then 4 profitable sell actions (only 1 full lot and the other three fractionals) a few losses and then you're consistently profitable for the next hour (great job BTW! )

Can you explain a bit more on how this fits in with your strategy? I'd love to be able to understand *any* profitable strategy!
  • #279
  • Jan 30, 2006 8:14am Jan 30, 2006 8:14am
Quoting CescoAiel
John,

Looking at the report I see you performed alot of small lot buy orders, but sometimes you throw in one or more sell orders.

Can you elaborate a bit on that?

Then around 15:00 you apparently go in for the kill, buying 1 lot (losing), twice selling 1 lot (going against your apparent lure strategy) and making money, twice buying and making money, then 4 profitable sell actions (only 1 full lot and the other three fractionals) a few losses and then you're consistently profitable for the next hour (great job BTW! )

Can you explain a bit more on how this fits in with your strategy? I'd love to be able to understand *any* profitable strategy!
Hi Cesco, thanks for the comments. Yeah during the NY morning and afternoon it appears I was using some of my plain old instinctive scalp trades. I used the lure tactic primarily during the London session. I hope I'm not confusing traders with this method. Of course it's still experimental.

JohnFX
  • #280
  • Edited Feb 4, 2006 9:45pm Jan 30, 2006 9:42am | Edited Feb 4, 2006 9:45pm
As you may know from previous posts I'm not a big fan of most indicators because they lag and tend to give a lot of false signals, but one that I still do have faith in, the MACD when used to see divergence.

Here is a link to a 2 min. chart of USDJPY to illustrate it. The MACD is standard settings with just the histogram.

http://www.jajr.com



JohnFX
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