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  • #501
  • Sep 21, 2010 6:38pm Sep 21, 2010 6:38pm
Quoting Monroe
it worked, just don't need it , as I have found. keep it as simple as I can, why have a 10s chart up when I dont need it, you know?

I view 10second charts as KISS to the Max, to me watching how the price reacts Live is key, if the price ticks down 3pips slowly then jumps back up 3pips instantly, for instance then someones got a buy program running propping the price up, I can see it from the S10 detail.

Tick would make more sense, but I can't find any MA's with relevance or a descent tick provider!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #502
  • Sep 21, 2010 6:40pm Sep 21, 2010 6:40pm
Must sleep, catch you all same time tomorrow as fully booked up might get to trade Friday but I doubt it
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #503
  • Sep 21, 2010 6:44pm Sep 21, 2010 6:44pm
(Aargh...)

1'TF is good for any run, is simple enough just before and during the trade if you put in the effort between trades, and is logical because there's more data.
MTF is tough from one TF and, I believe, defeatable.
  • #504
  • Sep 21, 2010 6:46pm Sep 21, 2010 6:46pm
that's cool man, whatever is working. For me I feel can see the same tick movement from the 1m or the quote, but if it's more visual and better for you,. then 10s is the way.

I just have little 5m charts up now to monitor so to speak, but dont much rely on them.
  • #505
  • Sep 21, 2010 6:50pm Sep 21, 2010 6:50pm
Quoting ha-pattern
(Aargh...)

1'TF is good for any run, is simple enough just before and during the trade if you put in the effort between trades, and is logical because there's more data.
MTF is tough from one TF and, I believe, defeatable.

I can't see the point in confusing it, with multiple TF's, I have a M5 sitting there to give me some history of what the day is doing, but I don't trade off it.

More data, gives you quicker responses, higher win ratio's, smaller losses and not necessarily smaller profits if you have a sensible approach to it.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #506
  • Sep 21, 2010 6:53pm Sep 21, 2010 6:53pm
Quoting Monroe
that's cool man, whatever is working. For me I feel can see the same tick movement from the 1m or the quote, but if it's more visual and better for you,. then 10s is the way.

I just have little 5m charts up now to monitor so to speak, but dont much rely on them.

I'm a do something else then look at the screen, so being able to see the data without starring at the screen reading it live is key to me thats all.

Gives me smaller direction indication to I use a 14ema so thats just over 2mins, this gets me out of a immediate stall with 1 - 2 pips profit, which is better than a loss quite freqently.


Yes my method gets me loads of 1 - 8pip scalp trades, but it gets me some nice 30pip moves to and there good and give the account a nice boost
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #507
  • Sep 21, 2010 6:55pm Sep 21, 2010 6:55pm
Quoting Turveyd
I can't see the point in confusing it, with multiple TF's, I have a M5 sitting there to give me some history of what the day is doing, but I don't trade off it.

More data, gives you quicker responses, higher win ratio's, smaller losses and not necessarily smaller profits if you have a sensible approach to it.
Yes.
The higher win ratios is a good point, too. I often take one reason off the 1' and go through DD for trade, because of the precision available.
  • #508
  • Sep 21, 2010 7:06pm Sep 21, 2010 7:06pm
The higher the TF the more your opening yourself to randomness and the more it becomes a 50/50 game.

M1 you can trade with a 80% win rate, which also means you can trade with a 80% loss rate.

H4 your opening yourself up to some many random variables over that period of time ( unless your watching the tape ) your hard pressed to get to 55% win rate, which also means your hard pressed to get to a 55% lose rate.

Thats why M1 has a bad rep, yep if your useless 80% losses, many of them every day and account death, but if your good, 80% win rate and riches which is what we are here for.

Where as H4, +200, -200, +200, -200 and you rarely get out of this and ahead and +200 looks great, but your likely trading with a 1/10th the risk as I am, so it's the same as me getting 20pips ( for the same sized account ).


And where I can get 20pips, 5 times in a day realistically your waiting 2 days for your TP or SL to hit at times, just spinning your heals with no control over anything.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #509
  • Sep 21, 2010 7:09pm Sep 21, 2010 7:09pm
Quoting Turveyd
I'm a do something else then look at the screen, so being able to see the data without starring at the screen reading it live is key to me thats all.

Gives me smaller direction indication to I use a 14ema so thats just over 2mins, this gets me out of a immediate stall with 1 - 2 pips profit, which is better than a loss quite freqently.


Yes my method gets me loads of 1 - 8pip scalp trades, but it gets me some nice 30pip moves to and there good and give the account a nice boost
makes sense. I am sure there is some discretionary aspect as well... at least, i would hope so. even though you're a math guy, I hope you know if-then doesn't work in this business, which is why I think EA's, at least for retail traders will never work. If your a billion+ dollar hedge fund that's quite a different story.
  • #510
  • Sep 21, 2010 7:12pm Sep 21, 2010 7:12pm
no, i believe you can obtain the same exact win ratio on a M1 as a 10s, timeframe does not matter. I dont think it's all on the chart, or even about the chart, thats why i don't really much rely on the chart or the direct in-the-now PA. Of course, I use and read PA, it's crucial, but PA and what is happening "in the now" is not the be all end all... no way. there is more to it then that.
  • #511
  • Sep 21, 2010 7:17pm Sep 21, 2010 7:17pm
Quoting Monroe
makes sense. I am sure there is some discretionary aspect as well... at least, i would hope so. even though you're a math guy, I hope you know if-then doesn't work in this business, which is why I think EA's, at least for retail traders will never work. If your a billion+ dollar hedge fund that's quite a different story.

There always has to be some discretionary, this being mainly when to trade and when not to, if there is no chance of making 20+ pips then why risk 10 is my motto.

Doesn't always work, cause I never get the first move for instance, but I can jump on later so it's okay, cause the first move at the start looks identical to the chop which can happen for hours.

EA's can't think, I tried to program trade times and other rules to make it stop trading during chop, but there just isn't any valid way to do it, not that I or anyone else can find anyway.

Saying that, If I could find a S10 Chart which would let me use a EA I would gladly let it trade my method I'd just have to manually stop and start it when I think it's a good time to use or not and maybe tweak a parameter or 2, to better suite the current market. *

* Consider this a works in progress later down the line
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #512
  • Sep 21, 2010 7:23pm Sep 21, 2010 7:23pm
Quoting Monroe
no, i believe you can obtain the same exact win ratio on a M1 as a 10s, timeframe does not matter. I dont think it's all on the chart, or even about the chart, thats why i don't really much rely on the chart or the direct in-the-now PA. Of course, I use and read PA, it's crucial, but PA and what is happening "in the now" is not the be all end all... no way. there is more to it then that.
It is the be all end all if Turveyd says it is.
He's a prime example of why forums are a terrible place to learn trading. Admits himself that he has limited experience and success, yet would go to any length to prove that his way is the only way to trade and everyone and everything else don't know what they are doing.
Stubbornly persistent
  • #513
  • Sep 21, 2010 7:24pm Sep 21, 2010 7:24pm
Quoting Monroe
no, i believe you can obtain the same exact win ratio on a M1 as a 10s, timeframe does not matter. I dont think it's all on the chart, or even about the chart, thats why i don't really much rely on the chart or the direct in-the-now PA. Of course, I use and read PA, it's crucial, but PA and what is happening "in the now" is not the be all end all... no way. there is more to it then that.

Your reading the Live tape, you could trade off H4 or just the quote from your broker and do exactly the same, ofcourse you'd need a better memory than I've got.

In what way is there more please expand on this.

To me it's all about direction and I view it in 4 speeds, 14ema, 66ema, 240wma ( MAIN ) and 480wma ( key on big trend moves ).

For instance GU :-

14ema DOWN
66ema DOWN
240Wma UP.
480WMA up.


So I'm currently looking for ups, but not until the short term directions are going my way, no point fighing short term momentum.

not that I'm trading tonight, just watching, not got the focus currently.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #514
  • Sep 21, 2010 7:26pm Sep 21, 2010 7:26pm
Quoting sergiu
It is the be all end all if Turveyd says it is.
He's a prime example of why forums are a terrible place to learn trading. Admits himself that he has limited experience and success, yet would go to any length to prove that his way is the only way to trade and everyone and everything else don't know what they are doing.

WHAT ?? Just trying to open your eyes to a new way of looking at the market, with no BS attached.

Actually I'm very experienced and had quite a bit of success trading over the last 12years thanks

See thats your opinion, my opinion is that forums are a terrible place because of people like you.

Who's right ? Who cares!! It's about making money at the end of the day.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #515
  • Sep 21, 2010 7:26pm Sep 21, 2010 7:26pm
In retail, I think it has to be discretionary to the point where you cannot make it an EA. You just don't have the advantage to do so. money, execution, prices, etc.

IMO if your system is an if-then, it wont work.
  • #516
  • Sep 21, 2010 7:27pm Sep 21, 2010 7:27pm
Quoting Turveyd
Johhny,

Like most people your in the belief that indicators work,...
Turveyd,

I can't agree with you there my friend as most indicators do exactly what they were designed to do. Lagging or repainting does not make them bad. Just there misuse is what makes them bad to that particular trader.

Your posting of what doesn't work seems to cover the A-Z of trading in the known world. You have posted that Support and Resistance doesn't work in a recent post and now you're posting that indicators don't work. Finding "Real Direction" one only has to view the Price Action and zoom out the chart a bit to see an uptrend or a downtrend. Utilizing the time frames you will see all the trends and trends within the trends.

In the context of technical analysis, an indicator is a mathematical calculation based on a securities price and/or volume.

The fact is you are using indicators yourself as moving averages are simple indicators. Forex traders use indicators to measure overbought and oversold conditions. The problem is some do better then others and the settings are critical to produce favorable results. Some indicators like the stochastics are bounded indicators and only have a range from zero to one hundred. Indicators such as the Detrended Price Oscillator are unbounded and serve only as a direction indicator.

Being an Engineer I can assure you I fully understand the math. Believing indicators can predict the future is a far reaching statement but past data can show where the price has turned in the past. Since traders look at these turning points as well as the fair value of the underlying currency pair coming into play only an idiot would go short when all indicators point to taking a long.

I know some will remember the time when they went long when an indicator showed an oversold position. Stochastics for example will hit zero and then the price continues to fall hitting your stop loss setting. Does this mean this indicator is a bad indicator? I don't think so and the problem is not with the indicator but with the trader and how that trader is using the indicator.

I use indicators only as confirmation after the price has reached areas of probable points of reversals. They will show price exhaustion but only do this well after certain events have taken place. Trading indicators as the sole means of trading is no better then trading just the candlesticks. You won't do well and could lose your shorts even if you're trading naked.

Just remember you are the reason for your ability or inability to be a profitable trader and doing the same old thing will get the same old results. Time alone is not the key factor in this equation but time only verifies the truth.

Trade well and prosper,

Johnny
  • #517
  • Sep 21, 2010 7:28pm Sep 21, 2010 7:28pm
Is that 90% of the people that post at Forex Factory is full of B.S.

Once I quit watching other systems, and listening to what others thought, and stopped following what everyone else was doing, I did great.

Every system has failure, after you learn how to fail, then you might succeed.
  • #518
  • Sep 21, 2010 7:33pm Sep 21, 2010 7:33pm
  •  Czech
  • | Joined Feb 2010 | Status: You Don't Know What You Don't Know | 111 Posts
Quoting sergiu
It is the be all end all if Turveyd says it is.
He's a prime example of why forums are a terrible place to learn trading. Admits himself that he has limited experience and success, yet would go to any length to prove that his way is the only way to trade and everyone and everything else don't know what they are doing.
You forgot that he claims (in this thread i believe) that he was consistently profitable in stocks and options but prefers the challenge of FX trading instead of making profits.

Quoting turveyd
Actually I'm very experienced and had quite a bit of success trading over the last 12years thanks

edit: I'm sure i'm "twisting his words" so heres the quotes for some "lols"
Quoting turveyd
But I've been profitable before ( Stocks then Options ) so the odds are in my favour I'll be long term profitable again
Quoting turveyd
I should of stuck to multiple day swing trades via stock I kick ass there, but I like the challenge, trading is more about the challenge and the science than the money.
  • #519
  • Sep 21, 2010 7:35pm Sep 21, 2010 7:35pm
Quoting JohnnyBSmart
Turveyd,

I can't agree with you there my friend as most indicators do exactly what they were designed to do. Lagging or repainting does not make them bad. Just there misuse is what makes them bad to that particular trader.

Your posting of what doesn't work seems to cover the A-Z of trading in the known world. You have posted that Support and Resistance doesn't work in a recent post and now you're posting that indicators don't work. Finding "Real Direction" one only has to view the Price Action and zoom out the chart a bit to see an uptrend or...

Come on most teaching / use of indicators is as if there magical, RSI is at 0 it's over sold it must go up, go long, ohhh it's still going down, but it's over sold, no you've went long in a down trend doh!

As you say your not doing that which is fine your using them as a crutch to gain confidence rather than the be all and end all that most use it for, which is fair enough.

Long EJ 1.5645 come on don't stall on me
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #520
  • Sep 21, 2010 7:38pm Sep 21, 2010 7:38pm
GU is gonna tank bro... hope you got out of that one at BE atleast
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