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Rufus

  • #1,561
  • May 26, 2011 8:19pm May 26, 2011 8:19pm
Flipped it around

EU long..Tg 1 off at 20 pips. next target just under swing high from yesterday...Stops at BE

Nailed the POS....
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Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #1,562
  • May 26, 2011 8:59pm May 26, 2011 8:59pm
Quoting Rufus
Flipped it around

EU long..Tg 1 off at 20 pips. next target just under swing high from yesterday...Stops at BE

Nailed the POS....
Rest Off...Just under 4200...Done till FF and London. Tempted to start looking fo a short in this area.
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Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #1,563
  • May 26, 2011 10:27pm May 26, 2011 10:27pm
Quoting Rufus
Rest Off...Just under 4200...Done till FF and London. Tempted to start looking fo a short in this area.

The one time I don't leave a little on for "seed" and it runs up another 50 piops.

Ah well..London will be interesting after a 100 pip run with Tokyo
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Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #1,564
  • May 27, 2011 2:43pm May 27, 2011 2:43pm
Enjoy the long weekend John!
  • #1,565
  • May 27, 2011 8:18pm May 27, 2011 8:18pm
Quoting sam0182
Enjoy the long weekend John!
You too....Beer thirty starts NOW
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #1,566
  • May 27, 2011 11:05pm May 27, 2011 11:05pm
Quoting Rufus
You too....Beer thirty starts NOW
yesss! although I think I'm going your route tonight with some scotch. jamison on the rocks, yes please.
  • #1,567
  • May 28, 2011 8:07am May 28, 2011 8:07am
Quoting sam0182
yesss! although I think I'm going your route tonight with some scotch. jamison on the rocks, yes please.

Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #1,568
  • May 29, 2011 8:05am May 29, 2011 8:05am
Rufus, I became increasingly fascinated with every your position
only an analysis, and I'm always wrong, don't follow me,
  • #1,569
  • Jun 2, 2011 8:00am Jun 2, 2011 8:00am
Hey there,

Hope you had a great holiday and your back whooping up on the markets!

Take care my friend!

Simple
A woman drove me to drink, and I forgot to thank her
  • #1,570
  • Jun 2, 2011 8:52am Jun 2, 2011 8:52am
Quoting simpleguy
Hey there,

Hope you had a great holiday and your back whooping up on the markets!

Take care my friend!

Simple

Yep..great break from things.

But now far to busy with things to stay awake for London opening. I have been working on a lot of remodels for people lately. Some of the homes have started out pretty nasty from critters taking over the occupancy having been vacant for over a year, or pipes that froze and broke. Needless to say they have been a challenge but they are putting beer on the table.

I am looking forward to next week when we get NFP out of the way.

I also get to tear out a bathroom floor that is rotting away from leaks.....yipeeeeee...

The work that we are doing has completely changed with the construction slow down. But like I say "beer on the table". I am thankful for all of it.

hopefully next week I will be able to fill this journal up with some profitable positions. I have been working more on the "Simpleguy" style of trading. Profits quicker and stops moved to BE sooner.

Trade safe I will talk latter

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #1,571
  • Jun 3, 2011 7:51am Jun 3, 2011 7:51am
For the past couple of months I've been playing some of these news releases and have to say, they have been some of my best trades of the month. It's now 8:43am est and I'm up over 10% on my account since NFP at 8:30. I've done this the last 3 months. It's amazing when you get rid of knowledge and just use logic on some of these type of things.

Over 200 pips as of now on just the G/U and E/U!!!!!!! Not a bad way to end the week!

Enjoy your weekend, i'm off to the beach later today!

Simple
A woman drove me to drink, and I forgot to thank her
  • #1,572
  • Jun 4, 2011 12:01pm Jun 4, 2011 12:01pm
EU prep

I will hopefully get more quality trading time this week. Lately I have been doing a lot of remodel work and it is tough to schedule. Things are added or more work found, all is good to get but it makes me way to tired to stay up very late. So the plan is to work more hours to hopefully get jobs completed sooner and possibly start getting chunks of time off to trade.

The temptation is to take poor quality setups when the trading time is limited. Sometimes the best thing to do is turn off the computer and read a book till a tradeable trend is developed.

So anyway I will be focusing on the "Rufus Method". I don't have a system per se. 5 & 15m on EU. 4h and 1h maybe 15m to fine tune my entry on EU, GU, AU, EJ.

This week I think I will start looking at some news trading as well. 1m on EU. Right now it will be on demo, I just have some ideas on how I can fit it to my trading style. We will see.

Here is my EU chart for your enjoyment.

I am off to replace some base that rotted out in a bathroom.
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Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #1,573
  • Jun 4, 2011 10:09pm Jun 4, 2011 10:09pm
Hey Rufus, I'm extremely new to trading (about a week) and about just as new to FF as this is my first post, but it's not for lack of reading. As soon as i found out about forex and started learning I was hooked, and after reading many of the posts in this thread, and FF in general, I feel like there is much to be learned for someone like me.

I had a few questions though, about your charts. I am currently using a demo account on ExpressFX so I don't have access to any of the fibs or averages, and I'm hoping you can maybe clarify which coloured line is which fib/ma and maybe what you use each one for. I also haven't seen the yellow/white horizontal bars before and was wondering what they are/are used for. I apologize if this was covered in earlier posts but 105 pages is a lot of reading.

I look forward to following your forex journey and hopefully I'll be able to contribute one day. For now, it's time to learn.

Thanks,

Griff
  • #1,574
  • Jun 5, 2011 12:16am Jun 5, 2011 12:16am
Quoting Griff
Hey Rufus, I'm extremely new to trading (about a week) and about just as new to FF as this is my first post, but it's not for lack of reading. As soon as i found out about forex and started learning I was hooked, and after reading many of the posts in this thread, and FF in general, I feel like there is much to be learned for someone like me.

I had a few questions though, about your charts. I am currently using a demo account on ExpressFX so I don't have access to any of the fibs or averages, and I'm hoping you can maybe clarify which coloured...

Hi Griff

Welcome to the wonderful world of the Forex market.

If I could offer one piece of advice...Get on a MT4 demo platform..You can get them for free. Then just watch price move and learn the platform. I wouldn't be to concerned about finding a trading system. There are a lot of them out there some good some awful. The most important thing IMHO to learn is to see how price moves at certain areas. That is learn to watch price action.

This brings me to the questions you asked.

The yellow boxes are supply (Over current price) and Demand (Under current price) zones. Places where price reacted do to a supply/demand imbalance. More buyers than sellers ... price goes up.

I run 4 moving averages and each has a specific purpose. 13 EMA, 21 EMA, 55 EMA, which incidentally are fib numbers. and 200 SMA.

I use Fibonacci retracements and extensions. If you would like I can explain more on these as the charts roll in. By now I think I can write a book on Fibonacci, I am a fan of it.

Post any questions you have, I don't mind at all. There are not many forex traders around me to talk to so FF is my only outlet.

Don't be a stranger

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #1,575
  • Jun 5, 2011 1:39am Jun 5, 2011 1:39am
Thanks for the speedy reply Rufus.

supply and demand! makes sense.

I watched a member named Howie's video showing trading on an mt4 platform and he had ma's and was putting in and moving around a fib so I got a sense of what they were and how to use them. But the first thing I did was get a demo on mt4.

Before I even got my first demo account I downloaded an app to my phone that shows all time frames for every major pair and I watched it quite regularly, so I have an idea of how the market moves, but I think I should associate some of the moves with things like opening/closing of certain markets and news events. Now I'm no political genius so news is the least of my worries, but it would be nice to recognize and understand why certain things happen, for future reference at the least.

I appreciate your help and I will certainly be back with more to talk about.

Griff ~
  • #1,576
  • Jun 5, 2011 1:53am Jun 5, 2011 1:53am
Hi Rufus,

Have really enjoyed reading your thread over the last few days. I have been trading for 1 and a half years (of which 6 months live) and I think I have finally figured out how I like to trade. Your thread seems appeals to me because it seems like you look for a confluence of factors such as trend, support resistance line (orsupply and demand) fib levels and pivot points.

I wondered about your confirmation for entry. Is it usually a englufing, 2 bar reversal or pin AT these confluences? Also, how important is the trend to you? When I look at your charts I can see prior to your entry there seems to be a series of nice higher highs or lower lows. Is it an absolute must for you to have this trend?

Thanks for your help!
I pity the fool who trades against the trend!!! Sucker!!!
  • #1,577
  • Jun 5, 2011 8:45am Jun 5, 2011 8:45am
Quoting Roguepipper
Hi Rufus,

Have really enjoyed reading your thread over the last few days. I have been trading for 1 and a half years (of which 6 months live) and I think I have finally figured out how I like to trade. Your thread seems appeals to me because it seems like you look for a confluence of factors such as trend, support resistance line (orsupply and demand) fib levels and pivot points.

I wondered about your confirmation for entry. Is it usually a englufing, 2 bar reversal or pin AT these confluences? Also, how important is the trend to you? When...
Hi RP

Confirmation of entry.

I want a closed candle (usually) on the other side of a minor trend line, yellow in most cases. I usually like it to be a candle of some sort of significance not just some meandering wimpy thing. Engulfing or a pin showing a reversal anything to indicate that price is leaving the area.

The posted chart shows some things I was looking for. Price bounced off my 55 EMA which it had done 3 previous times. Then it also was leaving the secondary blue TL. Then my signal was the candle closing the opposite side of the yellow counter-trend line. The demand area that I have marked was some concern to me but I thought it would be a little weak and the added volume with the Asian session should push it through.

As for the trend. I would say that 90% of my positions are with the trend. I need some really strong reasons to take a position against the trend of the next 1 or 2 higher time frames. "I Pittty The Fool"

Anyway, I hope this answers some of your questions

Trade safe and happy pips

Rufus
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Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #1,578
  • Jun 5, 2011 12:39pm Jun 5, 2011 12:39pm
Quoting Rufus
Hi RP

Confirmation of entry.

I want a closed candle (usually) on the other side of a minor trend line, yellow in most cases. I usually like it to be a candle of some sort of significance not just some meandering wimpy thing. Engulfing or a pin showing a reversal anything to indicate that price is leaving the area.

The posted chart shows some things I was looking for. Price bounced off my 55 EMA which it had done 3 previous times. Then it also was leaving the secondary blue TL. Then my signal was the candle closing the opposite side of the...

Thanks Rufus! Your reply gave me a lot more confidence about the trading path I am on right now. I use short medium and long term MAs (30 50 100) and although they differ from your settings, the point is to show momentum and 'dynamic' resistance/support I believe so there is no perfect MA setting...(right?).

I also like the way you look for counter trend line inside the main trade with a reversal bar to confirm the entry. My trading is not as refined as yours and I am only making a very small % increase on average a month but I believe your blog has already helped me a great deal. I know what and when to trade, just I give pips back to the market because Im impuslive to trade or I revenge trade or I talk myself in to trading, even when MT4 hasn't given me a signal to enter...

Trading has taken me through some emotionally dark places this past year (psychologically) and I hope I'm through this now. With your help, I'm sure I will be.

Thanks again!
I pity the fool who trades against the trend!!! Sucker!!!
  • #1,579
  • Jun 5, 2011 2:31pm Jun 5, 2011 2:31pm
Quoting Roguepipper
Thanks Rufus! Your reply gave me a lot more confidence about the trading path I am on right now. I use short medium and long term MAs (30 50 100) and although they differ from your settings, the point is to show momentum and 'dynamic' resistance/support I believe so there is no perfect MA setting...(right?).

I also like the way you look for counter trend line inside the main trade with a reversal bar to confirm the entry. My trading is not as refined as yours and I am only making a very small % increase on average a month but I believe your blog...

This is my general trading plan I keep by the computer.

You learn a lot about yourself when trading. The hardest thing to do at times is to step away from the mouse.

Mt two favorite books "Trading in The Zone" by Mark Douglas and the first half of "Trading for a Living" by Dr. Alexander Elder. Both have a lot to do with the psychology of trading.

Another book that may be of interest is "Blink" by Malcomb Gladwell. This is about the thought process involved that enable you to make a decision in the blink of an eye. When this book is looked at in light of trading it is quite enlightening.

Anyway, some stuff for you that me be helpful.

I have to get some work done so I can catch the Asian opening.

Rufus

General Trading Plan


　

1. No trading without a defined trend on the chart where I am looking for a position.
2. Risk no more than 1% of the account at any one time in all combined positions.
3. Trade only with the Rufus Method. All time frames.
4. Trade only with a “Clear Head”.
5. No alcohol until I have made a decision of “No new positions”.
6. Journal faithfully.
7. Discipline
8. Two losers stop trading.
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Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #1,580
  • Jun 5, 2011 4:14pm Jun 5, 2011 4:14pm
Quoting Rufus
General Trading Plan

　

1. No trading without a defined trend on the chart where I am looking for a position.
2. Risk no more than 1% of the account at any one time in all combined positions.
3. Trade only with the Rufus Method. All time frames.
4. Trade only with a “Clear Head”.
5. No alcohol until I have made a decision of “No new positions”.
6. Journal faithfully.
7. Discipline
[size=4]8. Two losers...
I should do a little clarifying..."Two losers stop trading" This is when it hits my initial stop loss. I move the SL quickly sometimes. Another rule of thumb is 2% draw down in account I stop trading. So this trading rule also depends on the risk I am running.

The No alcohol one. London opens for me at 12:00 am. So if I have a beer or a scotch I just start getting way to tired to quickly and start missing things and make poor decisions.

OK Back to work

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
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