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  • #201
  • Sep 14, 2010 1:08am Sep 14, 2010 1:08am
@bluemele,

I've been following your myfx accounts even for blessing. Any chance of forward testing steve or max's EA too?
  • #202
  • Edited 4:48am Sep 14, 2010 3:36am | Edited 4:48am
blue, yes, i know, just getting more info, that's all.

it's because i wasn't around from earlier versions...therefore, i am not sure if it was bad because there were so many runners to try to recover from; or if it was bad even if you took it straight up with a set tp/sl.

it is my assumption, that it is more important to take the trade when rwb meet. sixth indicator above/below gold lines would definaetly be a bonus.

edit: couldn't get into the eur/usd trade. the ea never hit. if i took it manual would have worked out. but would not have done that, since rwb didn't really look that pretty, and it did seem to run a bit on the bb, not too much, but a bit.
  • #203
  • Sep 14, 2010 3:53am Sep 14, 2010 3:53am
Quoting chiba_san
eur/usd right now. waiting for #1EA sell to hit @ half a lot. will do a stop loss between 80->100 pips. tp at least 100.
Let's see....take a look at the D1 chart...looks like a spike...could be dangerous :S
Hero calls followed by margin calls...
  • #204
  • Sep 14, 2010 5:40am Sep 14, 2010 5:40am
here we go on eurusd: double top+bad news= good trade till now!
  • #205
  • Sep 14, 2010 5:47am Sep 14, 2010 5:47am
Quoting The flame
here we go on eurusd: double top+bad news= good trade till now!
me 35 pips so far
Hero calls followed by margin calls...
  • #206
  • Sep 14, 2010 6:11am Sep 14, 2010 6:11am
Quoting chiba_san
you may be right sir... i'm very new to using bob's system. i took a usdchf, H4 trade. if you look at the charts, you can see where i took it. and why i took it. i was hoping for a 100 sl/tp. right now, it's up +143 @ 1 full lot. if it wants to reverse, so be it...what are you thoughts?

Hi
You maybe new to NB and forex factory but from the tone of your posts you are not new to forex. That is for sure. What you describe is the application of your experience coupled with judgement based on the same experience. This is something that comes with time and there is no system or method for it. As for the prediction of if you do the same trade 100 times? Well my guess is if YOU do it then your win rate would be more than 50%. Someone with less experience and screen time would win less than 50%.
Kind regards
  • #207
  • Sep 14, 2010 7:16am Sep 14, 2010 7:16am
Quoting bluemele
We need something to optimize stops/profit etc..

A system that I just saw had a stop set at the last high on the 15M chart and a TP at == that stop @ 1/2 and the rest letting it ride with a trailing stop.

Hard to test manually!
After reading through many topics, bluemele I've found you have a similar outlook on the markets as I do and some of the things you've said in this topic I have also discovered through my own demoing over the last week.

Can I ask if you follow NB's method of multi-trading or if you prefer to use a SL. I've been experimenting with multi-trading but I have set up a separate demo account with an alternate broker and want to trial a set SL and TP to see the comparisons.

Through your own experiences thus far, what would you say is the most ideal parameters for SL and TP following this strategy.

(Anyone else feel free to chime in).
  • #208
  • Sep 14, 2010 7:38am Sep 14, 2010 7:38am
Quoting shag3doo
@bluemele,

I've been following your myfx accounts even for blessing. Any chance of forward testing steve or max's EA too?
Not right now... Busy with other little projects. Maybe sometime in the future.

How are the results?
We are our own best indicator.
  • #209
  • Sep 14, 2010 7:46am Sep 14, 2010 7:46am
Quoting Shaun MP
After reading through many topics, bluemele I've found you have a similar outlook on the markets as I do and some of the things you've said in this topic I have also discovered through my own demoing over the last week.

Can I ask if you follow NB's method of multi-trading or if you prefer to use a SL....
I follow what Bob pretty much teaches, although he typically takes a bit more trades than I do.... I focus on LOW DD, whereas he focuses on Pips. I think in the end you will end up happy no matter what!

I take a stop at the traditional 500-600 pips (actually I hedge). I will test the concept of 100/100 tp/sl as I wasn't around in the earlier days etc...

The key here is that the old system works:

1. If you can accept drawdown
2. if you can accept closing out an L1 or even an L2 trade for -500 pips and -1000 pips respectively

Most people over-leverage their account, so a 500 pip stop ends up being way too much of their account. For those people, they should be trading a nano or micro account or not trading until they get enough money in their account.

You need to be where losing 3 pairs L1 & L2 trades would be no more than 5% to 10% of your account.

This takes a different mindset. One that gives you time to breathe!

I started lurking on this thread in early February. I didn't 'get it' until late April!!! I thought it was stupid that I would 'lose money' ahhaahaha Or be THAT WRONG!

With this method, the more wrong you are, the more pips.

I am open to trying new things, hence my live forward tests on many many configurations, but I am also getting ready to take this live trading a $1.50 per lot (which is high for me considering that I have been Micro only thus far...)
We are our own best indicator.
  • #210
  • Sep 14, 2010 7:49am Sep 14, 2010 7:49am
Hi all,

Here are my trades. It has been a crap week thus far (up about 130 pips or such), but my experience with this system is this happens about every 6 weeks or so. Everything runs in the same direction for many more days than I want it too and leaves me with no counter-trend trading.

A few things to note:

This is a on a very small 1K account so my DD is about 4 times what it normally is (compared to my other account).

I made a few mistakes on a couple entries 'testing' etc...

I am pushing the system for the amount of capital
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We are our own best indicator.
  • #211
  • Sep 14, 2010 8:17am Sep 14, 2010 8:17am
Get ready for the drop?

The only question is, will the BB drop to the rail and bounce, or will it fall to the target for the Head & Shoulders!

No matter what we will get a AUDUSD drop unless they become divergent....
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We are our own best indicator.
  • #212
  • Sep 14, 2010 8:27am Sep 14, 2010 8:27am
Quoting bluemele
Get ready for the drop?

The only question is, will the BB drop to the rail and bounce, or will it fall to the target for the Head & Shoulders!

No matter what we will get a AUDUSD drop unless they become divergent....
i really hope so. but i think it is important to have a second plan on hand. just in case aud/usd keeps rising...
meine augen sind die sterne
  • #213
  • Sep 14, 2010 8:28am Sep 14, 2010 8:28am
Quoting bluemele
Get ready for the drop?

The only question is, will the BB drop to the rail and bounce, or will it fall to the target for the Head & Shoulders!

No matter what we will get a AUDUSD drop unless they become divergent....
where's this tpl from?^^
not from bobs system i think? or did i miss s.th?!^^
Hero calls followed by margin calls...
  • #214
  • Sep 14, 2010 8:54am Sep 14, 2010 8:54am
expecting a veryyy big spike on EURUSD next few days...

watch out this
Attached Image (click to enlarge)
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referring to :
http://www.forexfactory.com/search.p...rchid=11500028

let's see guys
Hero calls followed by margin calls...
  • #215
  • Sep 14, 2010 8:55am Sep 14, 2010 8:55am
Quoting ES Trader
I have been getting killed on audusd on regular chart being short. But look at 50 pip renko . It has been long for long time. I think this is the advantage of Renko over time based charts IMHO.
does nan. 4.0 work with renkos?

: /
Hero calls followed by margin calls...
  • #216
  • Sep 14, 2010 9:23am Sep 14, 2010 9:23am
Quoting bluemele
Hi all,

Here are my trades. It has been a crap week thus far (up about 130 pips or such), but my experience with this system is this happens about every 6 weeks or so. Everything runs in the same direction for many more days than I want it too and leaves me with no counter-trend trading.

A few things to note:

This is a on a very small 1K account so my DD is about 4 times what it normally is (compared to my other account).

I made a few mistakes on a couple entries 'testing' etc...

I am pushing the system for the amount of capital
What leverage are you using?

I ask because my broker offers up to 500. I'm going to be also opening a little test live account with either $500 or $1000, trading 0.01. Do you think 500:1 would be okay?
  • #217
  • Sep 14, 2010 9:58am Sep 14, 2010 9:58am
Quoting Shaun MP
What leverage are you using?

I ask because my broker offers up to 500. I'm going to be also opening a little test live account with either $500 or $1000, trading 0.01. Do you think 500:1 would be okay?
No : D
1:500 would be okay...
i personally have a microaccount at FXOpen.com ... smallest lotsize is 0.1 compared with a standardaccount 0.01 = same value.

i use a 1:100 leverage...

best regards Phanti
Hero calls followed by margin calls...
  • #218
  • Sep 14, 2010 10:05am Sep 14, 2010 10:05am
Quoting Shaun MP
What leverage are you using?

I ask because my broker offers up to 500. I'm going to be also opening a little test live account with either $500 or $1000, trading 0.01. Do you think 500:1 would be okay?
leverage isn't the problem really. How people get into trouble is too many currencies (correlating) all @ L3 and their accounts just aren't big enough to withstand a big move.

We may be in one of those really big one's... the beginning...
We are our own best indicator.
  • #219
  • Sep 14, 2010 10:05am Sep 14, 2010 10:05am
Quoting Shaun MP
What leverage are you using?

I ask because my broker offers up to 500. I'm going to be also opening a little test live account with either $500 or $1000, trading 0.01. Do you think 500:1 would be okay?
I have 100:1... My margin is barely an issue...
We are our own best indicator.
  • #220
  • Sep 14, 2010 10:05am Sep 14, 2010 10:05am
Quoting bluemele
leverage isn't the problem really. How people get into trouble is too many currencies (correlating) all @ L3 and their accounts just aren't big enough to withstand a big move.

We may be in one of those really big one's... the beginning...
Bid|Ask60MPip Change60MHigh | Low

GBP/AUD
1.6452|60-591.6527 | 1.6452

GBP/USD
1.5514|17611.5514 | 1.5444

USD/JPY
83.06|08-1183.19 | 82.92

USD/CHF
0.9944|46-701.0016 | 0.9933

USD/CAD
1.0229|32-381.0268 | 1.0229

AUD/USD
0.9427|30730.9427 | 0.9353

NZD/USD
0.7388|91840.7388 | 0.7301

GBP/JPY
128.86|9135128.89 | 128.31

EUR/GBP
0.8375|78440.8377 | 0.8330

EUR/JPY
107.95|9889107.97 | 106.93
....
Hero calls followed by margin calls...
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