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Attachments: From Timex to Rolex via Forex/Igrok style
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From Timex to Rolex via Forex/Igrok style

  • #681
  • Jun 9, 2011 12:25pm Jun 9, 2011 12:25pm
Quoting Mr.C
Small candy are fashionable these days. Silver had a nice one. Gathered it and tried to short with the IW #18.4 with a ~15 SL. Risked as had some profit from the diamond. No luck with it but still some 30 pips in the bag.
What does it mean when he said "IW #18.4 with a 15 stop loss"? I saw the chart showed entry at 36.95 area.
No longer trading forex. Looking for full time job.
  • #682
  • Jun 9, 2011 12:30pm Jun 9, 2011 12:30pm
Quoting Mr.C
Glad you've asked. They were both entered with a comb or #20.6 formations. USD/CHF has formed a diamond some time after my entry that has boosted my confidence. Swissey had a big SL at the entering point. But decided to risk because of the ranges that were full of space to fill. I'll be honest: made a stupid mistake with the trailing stop and gathered just a small profit of it. Hate when such things happen. NZD/JPY gained power after a news release. These both trades were my confidence check as they were drifting without any profit for a...
I am currently reading Beat the Odds in Forex Trading (2006) by Igor Toshchakov, is this the book you are referencing the "#20.6 formations" and "diamond"? Thanks.
No longer trading forex. Looking for full time job.
  • #683
  • Jun 9, 2011 12:52pm Jun 9, 2011 12:52pm
Quoting mmaker
I am currently reading Beat the Odds in Forex Trading (2006) by Igor Toshchakov, is this the book you are referencing the "#20.6 formations" and "diamond"? Thanks.
yes
  • #684
  • Jun 10, 2011 6:25am Jun 10, 2011 6:25am
Quoting Mr.C
Glad you've asked. They were both entered with a comb or #20.6 formations. USD/CHF has formed a diamond some time after my entry that has boosted my confidence. Swissey had a big SL at the entering point. But decided to risk because of the ranges that were full of space to fill. I'll be honest: made a stupid mistake with the trailing stop and gathered just a small profit of it. Hate when such things happen.
Second try. Come on, give me those ranges!
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Twitter: MrC_Forex ; Facebook: /pages/MrC-Forex/197693770247397
  • #685
  • Jun 10, 2011 12:59pm Jun 10, 2011 12:59pm
Quoting Mr.C
Second try. Come on, give me those ranges!
Have closed the order for a small profit. The PA is not the one I would like to see. Interesting that the ADR and AWR are still ~40%. We might still see some energy tonight. But I'm leaving my desk and don't want to keep the order through the weekend. Enjoy your free time and see you next week.
Twitter: MrC_Forex ; Facebook: /pages/MrC-Forex/197693770247397
  • #686
  • Jun 10, 2011 2:57pm Jun 10, 2011 2:57pm
Quoting Mr.C
Have closed the order for a small profit. The PA is not the one I would like to see. Interesting that the ADR and AWR are still ~40%. We might still see some energy tonight. But I'm leaving my desk and don't want to keep the order through the weekend. Enjoy your free time and see you next week.
I'm afraid I have alot to catch up on this thread. Can you tell abit more about your USD/CHF entry and exit? When were they taken and at what price? Which timeframe chart is this based on? Are you trading from 4hrs larger timeframes or are you taking trades in 15mins charts? Thanks.
No longer trading forex. Looking for full time job.
  • #687
  • Jun 12, 2011 12:28pm Jun 12, 2011 12:28pm
Quoting mmaker
I'm afraid I have alot to catch up on this thread. Can you tell abit more about your USD/CHF entry and exit? When were they taken and at what price? Which timeframe chart is this based on? Are you trading from 4hrs larger timeframes or are you taking trades in 15mins charts? Thanks.
Good day to you.
I think you do have a lot to catch up. Four question marks in one post. Man! Did you read my entire post before starting to type yours? Entry is seen on the chart posted. I have closed the position for a small profit and that means for couple pips. That is why I don't bother writing any numbers. I trade all TF charts. Monthly to M1. Doesn't matter as they are all related. Don't get me wrong but I don't want to go back with you to my first hours of trading. As I understand you are thinking to study the method and you've started reading the book. Read it carefully. Check the templates there at the end of the book as all the questions you've asked here are explained there in the template section. Then this thread: http://www.forexfactory.com/showthread.php?t=21887. Should be enough for a while. And I think that you will ask totally different questions afterwords. Happy to see people that are keen to study. Good luck.
Twitter: MrC_Forex ; Facebook: /pages/MrC-Forex/197693770247397
  • #688
  • Jun 15, 2011 4:12am Jun 15, 2011 4:12am
My mirrors are back in town! LOL.
Half counter trend position closed for 105 pips (3.5%). The rest left running. According to the given situation other half will be divided into couple parts. Last one will be closed at the AMR if everything goes according to plan. I always like optimism based on TA.
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Twitter: MrC_Forex ; Facebook: /pages/MrC-Forex/197693770247397
  • #689
  • Jun 15, 2011 4:42am Jun 15, 2011 4:42am
Quoting Mr.C
My mirrors are back in town! LOL.
Half counter trend position closed for 105 pips (3.5%). The rest left running. According to the given situation other half will be divided into couple parts. Last one will be closed at the AMR if everything goes according to plan. I always like optimism based on TA.
Monthly and weekly MM changed to "down".
Twitter: MrC_Forex ; Facebook: /pages/MrC-Forex/197693770247397
  • #690
  • Jun 15, 2011 6:49am Jun 15, 2011 6:49am
Quoting Mr.C
Monthly and weekly MM changed to "down".
Hello Mr.C,

I assume that MM on weekly is down if the price is below week open. Same for monthly MM, if price is below month open.

If my assumption is right, have you performed any kind of statistical analysis that validates the idea that if the price is below weekly (or monthly) open then the tendency of the price is to continue moving down?

Thanks.
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #691
  • Jun 15, 2011 7:39am Jun 15, 2011 7:39am
Quoting soso
Hello Mr.C,

I assume that MM on weekly is down if the price is below week open. Same for monthly MM, if price is below month open.

If my assumption is right, have you performed any kind of statistical analysis that validates the idea that if the price is below weekly (or monthly) open then the tendency of the price is to continue moving down?

Thanks.
Hi Soso. Not quite right. Highs and lows are the keys, not the open points. The analysis is the the averages of the ranges. Every time frame: daily, weekly, monthly etc. has it's way to travel through it's given time - ranges. But it has to choose the way to do it. Up or down. It's quite reasonable that for a starter the Euro trade has chosen to fill in the weekly range by taking it's lowest point out today. If so, then it would probably finish it's way on Friday as it has more or less 40% left. That would be the 17th day of the month. After reaching this target the average monthly range would be more or less 60% and 9 full working days would be left to finish it. Now my common sense says that it would be more likely (having in mind the time left) to keep going in the way it has chosen today than to go back to take out the highest point of the month. I assume that my decisions will be made today according to the price action in near future. No 100% targets yet as it is Forex and magic happens here.
Twitter: MrC_Forex ; Facebook: /pages/MrC-Forex/197693770247397
  • #692
  • Jun 15, 2011 7:51am Jun 15, 2011 7:51am
Thanks Mr.C, indeed your explanation sounds reasonable.

I tested the average daily range fulfillment on a bunch of pairs starting from 1999 till today (a bit more extensive analysis on EURUSD). It looks like the chance to fulfill 100% of the ADR (30) is between 41% to 43%. The interesting thing is that this 2 percent interval is for all 6 pairs that I tested, so the deviation is pretty smal imo.

The chance for a range to continue expanding stays bigger than 50% as long as the current range is below 92%. If the range grows above 92% then the chances to continue expanding drop below 50%.

So I guess that MM makes sense as long as the range didn't expand too much (< 90%). It's only a guess for now, have to make more tests. Does it make sense?

I didn't test on Weekly or Monthly but will do and I have the feeling the numbers will be around the same values. Will come back in a few days with more results.
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Trading = a mirror to your human flaws. Fix them or be fixed.
  • #693
  • Jun 15, 2011 8:08am Jun 15, 2011 8:08am
Quoting soso
Thanks Mr.C, indeed your explanation sounds reasonable.

I tested the average daily range fulfillment on a bunch of pairs starting from 1999 till today (a bit more extensive analysis on EURUSD). It looks like the chance to fulfill 100% of the ADR (30) is between 41% to 43%. The interesting thing is that this 2 percent interval is for all 6 pairs that I tested, so the deviation is pretty smal imo.

The chance for a range to continue expanding stays bigger than 50% as long as the current range is below 92%. If the range grows above 92% then the...
Everything here in this game makes sense. When you make use of it. Good luck with your tests.
Twitter: MrC_Forex ; Facebook: /pages/MrC-Forex/197693770247397
  • #694
  • Jun 15, 2011 10:55am Jun 15, 2011 10:55am
Quoting Mr.C
My mirrors are back in town! LOL.
Half counter trend position closed for 105 pips (3.5%). The rest left running. According to the given situation other half will be divided into couple parts. Last one will be closed at the AMR if everything goes according to plan. I always like optimism based on TA.
Another part closed for 230 pips (3.8%). Moving fast! Next and the last stop - AMR.
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Twitter: MrC_Forex ; Facebook: /pages/MrC-Forex/197693770247397
  • #695
  • Jun 17, 2011 11:27am Jun 17, 2011 11:27am
Quoting Mr.C
Another part closed for 230 pips (3.8%). Moving fast! Next and the last stop - AMR.
Have closed some more of the position at high AMR (80%+). As only 1/10 of the trade is left running will leave it through the weekend with 110 floating at the moment and 10%+ in the bank. Have a great time without your screens in front of you and see you next week.
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Twitter: MrC_Forex ; Facebook: /pages/MrC-Forex/197693770247397
  • #696
  • Jun 22, 2011 9:50am Jun 22, 2011 9:50am
Quoting Mr.C
Have closed some more of the position at high AMR (80%+). As only 1/10 of the trade is left running will leave it through the weekend with 110 floating at the moment and 10%+ in the bank. Have a great time without your screens in front of you and see you next week.
Stopped out at +1.
Twitter: MrC_Forex ; Facebook: /pages/MrC-Forex/197693770247397
  • #697
  • Jun 22, 2011 12:32pm Jun 22, 2011 12:32pm
Quoting Mr.C
Another part closed for 230 pips (3.8%). Moving fast! Next and the last stop - AMR.
Nice looking channel. It looks even better on NT. Good trade C.
Measure twice, cut once
  • #698
  • Jun 22, 2011 4:09pm Jun 22, 2011 4:09pm
Quoting aediaz1
Nice looking channel. It looks even better on NT. Good trade C.
Thanks bro. I bet it did. I'm a bit old fashioned when talking about trading platforms and am still sticking to MT. Some adjustments there would be nice though. I like the top of euro, the reversing part. Made a nice angle there and went down with the same angle. Joined the party when there was a chance to do that.
How are you man? Summer plans?
Twitter: MrC_Forex ; Facebook: /pages/MrC-Forex/197693770247397
  • #699
  • Jun 23, 2011 7:38am Jun 23, 2011 7:38am
What can make a trader more angry? Two longs on loonie and two times missed by couple pips. Not my day today!
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  • #700
  • Jun 23, 2011 7:41am Jun 23, 2011 7:41am
Quoting Mr.C
What can make a trader more angry? Two longs on loonie and two times missed by couple pips. Not my day today!

happened to me today..i placed an entry to buy..it went to the pip, missed it due to 1 pip..i feel yur pain
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