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  • #5,021
  • Nov 16, 2011 2:07am Nov 16, 2011 2:07am
This one looks very good actually, congratulations. I get it, you were keeping the good stuff for yourself ;-)

Cheers
  • #5,022
  • Nov 16, 2011 9:24am Nov 16, 2011 9:24am
Quoting cameron1st
This one looks very good actually, congratulations. I get it, you were keeping the good stuff for yourself ;-)

Cheers
I already share way more than I should :-

While we are on the topic of stacking... I have seen this happen to me again and again. I guess it is the nature of the beast. I stack only when there is red aura moment for a country's currency (JPY in the above screenshot). On an average, red aura last for about 200-300 pips and then I stop after the last stack ends up in a loss. Soon after that, it hits with a reversal of 50-100 pips closing numerous of my recent stacks @ BE.

From my last stacking episode, I got 5 positions closed out at BE which is fine. No emotional hassles dealing with it but I wonder if it would be more advantageous to manually close out several of the most recent stacks (under 20-40 pips each) and take a mini profit knowing that the recent stacks have 80+% probability of closing @ BE?? I know Graeme would just let them die at BE as the long term benefit is exponential compared to the zero risk/loss so perhaps I should just let them die as well :-

I have stacked over a 1000+ practice trades this year and still trying to figure out what best works for me (work/life balance, stress,patience, fear, greed etc). I am also sorting out some MM rules as I progress making better entries. Lot size same as realized account balance is far too conservative imo.
Staying in my lane...
  • #5,023
  • Nov 16, 2011 10:25am Nov 16, 2011 10:25am
Quoting VEEFX
I already share way more than I should :-

While we are on the topic of stacking... I have seen this happen to me again and again. I guess it is the nature of the beast. I stack only when there is red aura moment for a country's currency (JPY in the above screenshot). On an average, red aura last for about 200-300 pips and then I stop after the last stack ends up in a loss. Soon after that, it hits with a reversal of 50-100 pips closing numerous of my recent stacks @ BE.

From my last stacking episode, I got 5 positions closed out at BE which...
I recently began studying this thread and tried several times to stack up trades. I could only manage getting trades closed at BE or with loss. Veefx, you got a point here. Given the high volatile market currently, I'm considering to do partial closes for all trades. Then move SL to BE and let the market do its magic. This way I expect to profit a little more often.
  • #5,024
  • Nov 16, 2011 10:36am Nov 16, 2011 10:36am
Quoting Aimak
I recently began studying this thread and tried several times to stack up trades. I could only manage getting trades closed at BE or with loss. Veefx, you got a point here. Given the high volatile market currently, I'm considering to do partial closes for all trades. Then move SL to BE and let the market do its magic. This way I expect to profit a little more often.
as long as you are not taking profits (diversifying) to cover losses. If that is the case, focus on taking better entries. It is definitely worthwhile to let them close at BE if you have a large floating profit and many legs across many pairs open. It's all relative so don't want to send the wrong message with my post.

EDIT: Graeme in his intraday trading commentary also advised to take 100pip TP and just leave one position open. That's another beautiful way to grow your account during the initial days until all this becomes second nature (like driving a car !)
Staying in my lane...
  • #5,025
  • Nov 16, 2011 10:42am Nov 16, 2011 10:42am
Quoting VEEFX
I already share way more than I should :-
While we are on the topic of stacking... I have seen this happen to me again and again. I guess it is the nature of the beast. I stack only when there is red aura moment for a country's currency (JPY in the above screenshot). On an average, red aura last for about 200-300 pips and then I stop after the last stack ends up in a loss. Soon after that, it hits with a reversal of 50-100 pips closing numerous of my recent stacks @ BE.
If you remember Graeme was saying that he stacks more aggressively in the beginning of a move, and then just few or not at all, basically you have to see when the current momentum gets overextended and a retracement probable and stack less or stop stacking until the retracement plays out, and then you can resume the stacking. No trend is a straight line down or up...but many traders think it is.

Cheers
  • #5,026
  • Nov 20, 2011 8:53am Nov 20, 2011 8:53am
Hi Guys,


Cam made a very valid point and one i seem to struggle with.i understand the need to stack,however i can only ever seem to get two positions in for mid term growth ( APX 250 - 500 Pips) in a week with decent momentum.

Then, as Cam describes the indecision that follows as the position reaches 1000 pips.At this point i would usually close one position but as Cam pointed out this is not exactly exponential growth. I am looking into a post where Graham mentioned the average displacement from the wkly/dly ema. This being on ave 400 pips. i am currently looking for signs of a trend breakdown on the wkly around this area.hopefully this will help when deciding whether to diversify.would antone like to add an idea how we could exploit this statistic?
  • #5,027
  • Nov 20, 2011 12:10pm Nov 20, 2011 12:10pm
Quoting VEEFX
Came across this book...

"The opening range is the statistically significant part of the trading day, marking the high or low for the day (in volatile markets) about 20% of the time."

For those who are struggling to figure out which open price to use.... it doesn't have to be the daily open candle of your broker ;-

Attachment

EDIT: If I may add one more thing that applies to what Graeme preaches...
"How many people have you heard say that if you take a position and it doesn’t go anywhere in 20 or...
This is more applicable to exchange based trading where there is a defined market open and a market close. Forex being a 24 hr market and an OTC market, the principles of this book by itself will not give an edge.

Having said that, this book can be applied to Forex profitably just as other trading concepts such as S/R, RN's, Pivot, MA's, Oscillators, Fibs, chart patterns and just about another trading method out there.
  • #5,028
  • Nov 20, 2011 12:38pm Nov 20, 2011 12:38pm
Quoting VEEFX
It's disillusional !!! Just because you can trade Forex 24 hours doesn't make Forex a "24hr market". It is possible to apply a sessions indicator to JPY pairs for Asian open, GBP/EUR pairs for london open, AUD/NZD pairs for Sydney open and find your statistical edge @ session open.
Ability to trade Forex 24 hrs a day does make it a 24 hr market. Yeah, you may apply indicator to any chart and you will see price reacting to it just the way price reacts to any and every concept out there. Remember Graeme's argument about TL's. Its the same thing.

All I am saying is that this book by itself will not give you the edge. You will need other ingredients, (Most importantly Entries and Small risk) to be profitable. And once you nail down low risk entries, just about any concept can be traded profitably.

I guess the essence of my argument is focus on perfecting low risk entries. That is the key to success with Graeme's method.
  • #5,029
  • Nov 21, 2011 6:29am Nov 21, 2011 6:29am
Hello to everyone

I have been "dabbling" with forex for the past three years, and have taken part in several trading system threads over that time. I haven't taken the BIG step to go live yet, but I have come to the conclusion that I NEED to take that step if I ever hope to progress with my education. The false sense of security provided by a demo account funded with a large bankroll actually becomes a hindrance at a certain point in time. Of course I plan to start small, but I need to experience what the "real" market is like.

I won't be going into this totally blind. I have gathered a lot of educational experience over the years, read lots of books on the subject, and demo'd a few trading systems. I have come to the conclusion that, although some people have apparently had good success with short time frame systems, that is not for me. The view provided by the longer time frames just seems to fit my personality better. I believe it will help to cure my disease of "chasing the direction."

I certainly don't claim to have a total understanding of Graeme's method of trading (investing), as I have barely scratched the surface of this thread. I have however, seen enough to know that he is on the right track. So, I will continue to work my way through the thread and see where it leads.

Thanks Graeme, for taking the time to share your experiences with us. It is greatly appreciated!
  • #5,030
  • Edited 12:37pm Nov 21, 2011 12:12pm | Edited 12:37pm
How do YOU implement this fundamental rule?
I have to declare that I am not trading for living as yet . I would need large amount of cash to sustain the high cost of living. But I happy to say I am getting there.
I tried not to post results about growth and losses as this does not reflect the true meaning of profiting in the market.
My view is if my position lives I learn and it it dies I learn, either way I dont let the market decides how I represent my reality of participation under NO circumstance. THIS MY MAIN RULE.

A great Emperor once said" Emancipate yourself from mental slavery, Non but OURSELVES can FREE OUR Mind"
This was also echoed by Bob Marley.
This has nothing to do with Slavery, It has to do with the mind and the state of conciousness being free from constraints and pressure, fear, stress, loss and ego, pre-decision and indecisions.

Our mind represent our reality by probing our 5 senses, and then we make decisions on what our senses feed the mind.


NOT until you are first enlightened within yourself before you finally understand this method and how you represent the Market.
Do the flipCoin GAME and you will realize that the market does not have the upper hand if you remain true to main ingredient of the market. The TREND and low-risk
See before every swing there is a Trend after every swing there is a trend
There is a trend within a trend. Every where in the market there is a TREND. So stay with the trend.

You are the edge.

Look at FF. There are tonnes of system that claims success and it might be true, but what got me is the variety of systems.

How can so many system interpret one market in so many ways.
and the indicators are all basically the same.

So we all have our own interpretation of the indicators irrespective of what the market does.


1. You have to loose in this game, but you have to control your losses.
"Sucessful trading requires that you generate low-risk ideas and act upon them" by : Van Tharp
but asked yourself how do you loose, when do you loose, how much do you loose, how do you represent your losses both physical and mental. what actions do you take.


2. Free your mind, because the past has resolved itself and the future no one knows, but for now we can go with the flow with low risk.
3. ITs the concept of NOW being in the present participating at low risk and understanding that market cannot be controlled and that precision entry doesn't prevent losses, it just increase the chance of not loosing your risk.

BUT Accuracy does not equate to profitability, it only helps.

4. losses are natural part of trading.

What is Low-Risk?
This is based on account size and psychology and your ability the understand that loosing in the market IS NOT WHO YOU ARE. it is just loosing in the market. With this is mind you are already controlling your risk, but understanding that profiting in the market is also NOT WHO YOU ARE. Its just the market rewarding your actions.

So Graeme asked. Where is the best place on the Monthly,Weekly Daily candle for a position to survive the market price fluctuations and grow ?
ANSWER. IT is at the OPEN or the start of each session.

It START where it ends an Ends where it STARTS

If its UP BUY if is DOWN Sell but stay with the long term..the Weekly and Monthly for taking profit. Remember More risk does not mean more profit.

BE should be a natural part of trading. This is a type of trading action you perform where your positions becomes Neutral with the market. IT IS NOT WHO YOU ARE, Your BE position DOES NOT represent who you are NOR IS IT A STATE OF MIND.
Now with this in mind allow your position to die without feeling guilt, loss, fear, depression,anger. All those emotions will box-in your mind and cause irrational actions contrary to your account size and position size.( your objective of achieving the inevitable Breakout Trend that will produce huge amount of profits)

Greame was right all along.
Giving a system of trading to people and say here do this and do that and you will make money. Will not help with the pyschology of trading.
IT's not the system that's making the decision, dealing with the losses, the profits, the fluctation , account balance draw down. IT's YOU.

so prepare yourself. Undertsatnd YOUR belief of the market, Trade according to your belief,Keep your low-risk, follow the trend. Free your Mind being in the PRESENT. No focus on the past, NO fixation on the future. Being flexible with market direction and reacting accordingly, taking care of yourself, meditate, exercise, vision your actions. Dont take the market personal. See money as a tool to seize opportunity, not as a component in representing creation and existence of life. Take your losses and let your position mature.

I'm not trying to teach or own Greame's method but it's because of him why I find commitment to seek the knowledge and the missing link. To know, that if you play by your own rules with low-risk( position sizing) + follow the trend then that inevitiable daily, weekly breakout will occur, in the mean time participation allows profit taking and account growth.

Play the COIN GAME, I mean it. Then Look at the charts and you KNOW for sure that it is inevitable. ( THE ONE BIG WIN).
Position Sizing allow you to stay in the game for that moment.
position sizing allows you to acheive your objective.

I will always post my views in this thread because I have being here since the first post Graeme made and It inspired to me make the commitment to frame my world of the market and understand the risk of the game, and be kind to others and you would like others to be kind to you.

Thanks Chips
  • #5,031
  • Nov 21, 2011 12:30pm Nov 21, 2011 12:30pm
Quoting chips
How do YOU implement this fundamental rule?
I have to declare that I am not trading for living as yet . I would need large amount of cash to sustain the high cost of living. But I happy to say I am getting there.
I tried not to post results about growth and losses as this does not reflect the true meaning of profiting in the market.
My view is if my position lives I learn and it it dies I learn, either way I dont let the market decides how I represent my reality of participation under NO circumstance. THIS MY MAIN RULE.

[u][b]A...
Can you give me some of your weed?
  • #5,032
  • Nov 21, 2011 4:02pm Nov 21, 2011 4:02pm
Quoting Custos
Can you give me some of your weed?


Chip:
So Graeme asked. Where is the best place on the Monthly,Weekly Daily candle for a position to survive the market price fluctuations and grow ?
ANSWER. IT is at the OPEN or the start of each session.

In my opinion, positions at the tip of wick (reversal/continuation of trend) have a greater probability of survival instead of open.
Staying in my lane...
  • #5,033
  • Edited 6:12pm Nov 21, 2011 5:52pm | Edited 6:12pm
Quoting Custos
Can you give me some of your weed?
Yeah bro..If you were near me I could give you some "Hi Grade"

A 90 year old user of "weed" says whenever he needs real meditation he have to feed the brain-mind. Just like when the athlete trains he has feed the body/muscle with physical activity there must be something to feed the brain.

To relax the mind, some ppl uses music, yoga, hypnosis and various method to achieve that level where the mind and the body are in sync.
Do whaever a persons does to get to that place..its because he/she believe.

its the same with trading and the market. our senses says it going down because the indicators say so and we hold to the loosing trading hoping wishing tha things will turn around. Our sense of perception makes it real, if the real to us then only us change/alter the situation.

One Love Bro
  • #5,034
  • Edited 6:20pm Nov 21, 2011 5:54pm | Edited 6:20pm
Quoting VEEFX


Chip:
So Graeme asked. Where is the best place on the Monthly,Weekly Daily candle for a position to survive the market price fluctuations and grow ?
ANSWER. IT is at the OPEN or the start of each session.

In my opinion, positions at the tip of wick (reversal/continuation of trend) have a greater probability of survival instead of open.
Good Vee agree, if you find your location and have the precision and time to add positions there then kudos to you.

Each person has to develop and perceive the market according there own beliefs. This part of staying in the game, but in essence it does not matter what setup/signal is given, if the risk is not low then you wont be in the game for too long.

I continue to further my commitment to trading and my participation here is apart of my plan, as this is the place where it all started, contributing is essential to keeping Graeme knowledge alive
  • #5,035
  • Nov 21, 2011 6:43pm Nov 21, 2011 6:43pm
[quote=chips;5154375]Good Vee agree, if you find your location and have the precision and time to add positions there then kudos to you.

Each person has to develop and perceive the market according there own beliefs. This part of staying in the game, but in essence it does not matter what setup/signal is given, if the risk is not low then you wont be in the game for too long.

I continue to further my commitment to trading and my participation here is apart of my plan, as this is the place where it all started, contributing is essential to keeping Graeme knowledge alive[/QUOTE

Let's list all low risk setups!!!
Are there any low risk setups which are NOT near the tip of wick or near the open price?
full body bars, pinbar, flying buddah, inside bar,doji,penants,stalls/breakout bands,,double/tripple wick bounce, ema cross/bounce......what else??
Staying in my lane...
  • #5,036
  • Edited 8:15pm Nov 21, 2011 8:02pm | Edited 8:15pm
[/QUOTE

Let's list all low risk setups!!!
Are there any low risk setups which are NOT near the tip of wick or near the open price?
full body bars, pinbar, flying buddah, inside bar,doji,penants,stalls/breakout bands,,double/tripple wick bounce, ema cross/bounce......what else??[/quote]

What I think you just describe in my mind is indicator formations that indicate a possible change of direction in price and they all can be traded at low risk
i agree, but for me Low-risk ideas and the concept that is applicable to the point of taking the bar or the cross but what about the pshychological risk it will have after and during the trade. The what ifs and if I had known.

Low-risk ideas for capital and mind.


Most ppl make the TA, identify the S/R and then take the pin and it failed but failure cause them to feel sad and angry. This is risky for the trader who wants to stick around and take more pins.
Because he expose himself to knowing and want to be right

here's one low risk Idea.
take a look at the weekly candles. When price is down or up usually you can harvest a lot of pips. But notice what happens at the start of the weekly/daily open prices explodes in one direction and I just follow usually at no cost.
these are the days and weeks you want to be in.

I wasn't looking for a Bar but the "NOW" where is price NOW I am in the PRESENT and my mind is free and unrestricted I am flexible.

Its safe to enter if its down or when it's up then you will have momentum on your side and when everyone realize this they will all jump in.
This is low risk, entering with the flow of prices

On the daily I enter in the desired weekly direction. If yesterday was a good day in hindsight today might be another good day..So wait for price to move then I participate. I dont have to see a intra-day candle because if I loose I can choose to participate again. I still consider myself free in the mind because the opportunity presented itself and I seized it, without fear or loss, or the ego of winning or knowing that I'm right for worng. I'm just entering with the flow.

other Low-risk Ideas
More signal does not give more profit
More winners does no give more profit
Not trading
Knowing how to cut losses and not feeling guilt and Loss and shame, anger
Leaving profit on the table
Having a psychological game plan
BE positions are all low-risk, as it cost nothing and you allow your position to grow.

I use position sizing to achieve this objective. to stay in the game

I am really not expecting to win EVERYTIME I participate when I BUY or SELL. I just want to win 1 time.


On the weekly pips can move 300-400 pips. so if you have 1 position on a good day and you risk 30pips per day for the entire week.. thats 120 pips at cost and you are already in profit with only 1 position. Now its up to you to take more opportunities or let the market grow because you are with the trend.

price consolidation is other, ema crosses is other Idea. When I see these events happening I tried on the daily open , majority of time there are wicks but you have to stalk price to to get those extra pips.

I dont worry about extra pips, I'm just waiting to see price move in my direction
I use wicks o give me insights to reveal who is in control after a session is completed.

I dont have time, I try not sit around and stalk a currency. I'm following the rule.
its Inevitable more Traders will jump on and push price DOWN if its down AND PUSH it UP if it's up, more often to create the 1 big move.

I know before hand that everyone will see what they want to see and do what they want to do, because of beliefs and experiences and how they represent their own existence. So I participate here with my own reality but I somehow shape my guidance from the millipede method.


cheers
  • #5,037
  • Nov 21, 2011 10:36pm Nov 21, 2011 10:36pm
Quoting chips
[/QUOTE

What I think .....

cheers
All this phycological mumbo jumbo is full of crap if one does not "believe" in the basic foundational elements of trading a method/system. With that, I don't mean simply convincing yourself by making some practice trades. It has to become part of who you are, fit your lifestyle, mindset, financial goals etc.

With that said, Could I get some of that "Hi-Grade" weed now

good post my friend
Staying in my lane...
  • #5,038
  • Nov 21, 2011 10:44pm Nov 21, 2011 10:44pm
not sure if anyone has reached that stage to experience this yet.... once you have a few dozen positions across 4-5 pairs, you really don't need to even look at charts or setups. Your blotter/journal become a "trend indicator" and you can simply trade off your journal to build positions or diversify.

You simply add positions when your blotter goes crazy like nuts in the given direction and freeze/diversify recent positions when the chaos slows down. It all becomes relative after a while :-
Staying in my lane...
  • #5,039
  • Nov 22, 2011 4:43am Nov 22, 2011 4:43am
Quoting VEEFX
Let's list all low risk setups!!!
Are there any low risk setups which are NOT near the tip of wick or near the open price?
full body bars, pinbar, flying buddah, inside bar,doji,penants,stalls/breakout bands,,double/tripple wick bounce, ema cross/bounce......what else??
Hi, Vee.

To your list of low-risk opportunities I would add couple more:

- trendlines breaks or bounces (S/R levels as well as they're the sort of horizontal trendlines);

- "red aura" regions, when price reaches the zone where all TFs became aligned with single direction (Monthly, Weekly, Daily candles direction).

Quoting VEEFX
not sure if anyone has reached that stage to experience this yet.... once you have a few dozen positions across 4-5 pairs, you really don't need to even look at charts or setups. Your blotter/journal become a "trend indicator" and you can simply trade off your journal to build positions or diversify.

You simply add positions when your blotter goes crazy like nuts in the given direction and freeze/diversify recent positions when the chaos slows down. It all becomes relative after a while :-
To my humble experience, it's very tempting to add when you see a substantial growth in positions. But, it's where the majority of losses happens (to me at least), because price have to retrace/stall after or at any moment within the substantial move.

I came to realize with experience, that when we're in the move, price much less respects technicals and it becomes somehow higher risk entry just because the volatility is higher, so you have to set bigger SL to accomodate bigger volatility, which draws the need to reduce the position size, or increase account exposure sticking to initial position size.

Even great Jessy Livermore wrote he had the biggest winners always when he enterred EARLY in the trend. Notwithstanding the fact that he was also adding during the trend, still, positions opened before the volatility break are the best ones to stick with.

Rgds,
Alexander
  • #5,040
  • Nov 22, 2011 9:57am Nov 22, 2011 9:57am
Quoting AlexanderSV
Hi, Vee.

To your list of low-risk opportunities I would add couple more:

- trendlines breaks or bounces (S/R levels as well as they're the sort of horizontal trendlines);

- "red aura" regions, when price reaches the zone where all TFs became aligned with single direction (Monthly, Weekly, Daily candles direction).



To my humble experience, it's very tempting to add when you see a substantial growth in positions. But, it's where the majority of losses happens (to me at least), because price have to retrace/stall after...
There WILL be losses due to Stacking and/or getting on early in the trend... all we are doing is anticipate and participate with a little bit of science, gut feel employing your engineering, mathematical, artistic, logical and common sense skills along the way. It is just the cost of doing business. At the end of the day, if unrealized account equity drops below account balance, you got to stop and think what you are doing. Pip accounting per pair is just a lot of work for me (call me lazy but I am here to work less with minimum stress compared to the 60+ hours I put in towards my current job)
Staying in my lane...
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