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  • #571,921
  • Dec 8, 2011 10:32am Dec 8, 2011 10:32am
that'd be right, bounce within 2 pips of my TP

ohwell, such is forex trading
  • #571,922
  • Dec 8, 2011 10:34am Dec 8, 2011 10:34am
Quoting MelbTrader
that'd be right, bounce within 2 pips of my TP

ohwell, such is forex trading
Hope you covered it manually?
  • #571,923
  • Dec 8, 2011 10:37am Dec 8, 2011 10:37am
Quoting spike00spieg
There last 2 weeks were bad for me lost all my last month winnings at least I'm at break even now, is very hard to do trend trading these days will all these news and ranges.

Shall I stop and come back in January?
Who knows better than you?
But if you are new to trading then December may be a tough time to you. Much of risk but much of opportunities.
  • #571,924
  • Dec 8, 2011 10:37am Dec 8, 2011 10:37am
Quoting 21vs7
I have an angry unrational sell on 1,3307 here...
looks like my long is doing better than your short now but hey, itīs not over yet...

I failed nicely once today already so better sit down in the corner with Dunce hat put on...

http://3.bp.blogspot.com/_8teTbzhI7X...1600/dunce.jpg
Quant Hedge Fund CEO
  • #571,925
  • Dec 8, 2011 10:37am Dec 8, 2011 10:37am
http://www.forexfactory.com/showthre...44#post5205144

Case in pt.... success = Work x time



Quoting cloggie
No there is no universal system. That's why I worded it the way I did. I for one use an entirely different setup for different pairs, different sessions, different TF's, range play, scalping, position, intraday etc.

So as part of your audit trail, you need to finetune your system to pair/TF/session first, then you can adapt to intraday/scalp/position, then you can adapt to range/breakout.

Most here just take this business way too lightly. I for example have been working on testing a scalping strategy for a year now, I am in the final phase...
  • #571,926
  • Dec 8, 2011 10:37am Dec 8, 2011 10:37am
long at 1.3307 SL BE.
As Above, So Below
  • #571,927
  • Dec 8, 2011 10:38am Dec 8, 2011 10:38am
Quoting DragonEye
Hope you covered it manually?
Nope, holding for now. What's worse is that my original TP was hit had I not adjusted it down to account for slippage when the order was triggered.
  • #571,928
  • Dec 8, 2011 10:38am Dec 8, 2011 10:38am
i try a small long at 1.3310, s/l at 1.3270
  • #571,929
  • Dec 8, 2011 10:39am Dec 8, 2011 10:39am
Quoting cloggie
No there is no universal system. That's why I worded it the way I did. I for one use an entirely different setup for different pairs, different sessions, different TF's, range play, scalping, position, intraday etc.

So as part of your audit trail, you need to finetune your system to pair/TF/session first, then you can adapt to intraday/scalp/position, then you can adapt to range/breakout.

Most here just take this business way too lightly. I for example have been working on testing a scalping strategy for a year now, I am in the final phase of...
Thanks Cloggie. I found the same when I looked at a few dozen systems and a couple hundred different EAs about 6 months ago.

It seems to me that certain techniques have universal application such as trading pullbacks in the direction of the trend, chart patterns that show weakness, trendlines, trend line channels, and S/R. However turning them into a system that can be mechanically traded on all time frames is beyond me.
Kill the ego, or it will kill the mission.
  • #571,930
  • Dec 8, 2011 10:40am Dec 8, 2011 10:40am
Quoting tashkent
long at 1.3307 SL BE.
yay, got ya!!


(just kidding)
  • #571,931
  • Dec 8, 2011 10:40am Dec 8, 2011 10:40am
Quoting spike00spieg
There last 2 weeks were bad for me lost all my last month winnings at least I'm at break even now, is very hard to do trend trading these days will all these news and ranges.

Shall I stop and come back in January?
it is good that you are considering a break, best thing to do would be to look closely to your trading history, best with chart entries. analyze what went wrong, why did you take the trade, why didn't it work out. What could be done to prevent it in future.

Most important, try to see the trend in your mistakes. Do you have a habit of closing too early/too late? Is SL too small? Maybe you trade in a bad time (news, low volume in asian session etc.)

If you need time for all this, then you should take a break. Might be a good investment to not trade when you're not confident, and work on getting it(confidence) back
  • #571,932
  • Dec 8, 2011 10:41am Dec 8, 2011 10:41am
Wow... Absolutely priceless advice, Cloggie. Thanks so much for your posts. You have certainly put in lots of effort on this business. I'm also amazed at the fact that you test your system on a demo for so long before allowing it to touch your money pool.

I, myself only tests new systems on demo for a maximum of 2 months before I go live, albeit with really small lots.
  • #571,933
  • Dec 8, 2011 10:43am Dec 8, 2011 10:43am
Quoting Dagobert
yay, got ya!!


(just kidding)
lol. yea, i am hit, looking for another opportunity.
As Above, So Below
  • #571,934
  • Dec 8, 2011 10:44am Dec 8, 2011 10:44am
Before closing for the day I have to say thank you, to ALL. My best day yet in both reading the setups and collection of PIPS
  • #571,935
  • Dec 8, 2011 10:45am Dec 8, 2011 10:45am
Quoting cloggie
No there is no universal system. That's why I worded it the way I did. I for one use an entirely different setup for different pairs, different sessions, different TF's, range play, scalping, position, intraday etc.

So as part of your audit trail, you need to finetune your system to pair/TF/session first, then you can adapt to intraday/scalp/position, then you can adapt to range/breakout.

Most here just take this business way too lightly. I for example have been working on testing a scalping strategy for a year now, I am in the final phase of...
Solid gold and perfectionalism at its best...

...itīs all about hard work. As in every business, ffs! Hard work leads to edge. Without edge you are screwed.

99% people seek workarounds, easy ways (robots and this sh_t), we are lazy society looking for easy ways out. Those constitute those losers who fill in pockets of those who spend countless hours, evenings, weekends over books and charts.

Again - as in every business.
Quant Hedge Fund CEO
  • #571,936
  • Dec 8, 2011 10:45am Dec 8, 2011 10:45am
Where is systemfx with his crap, that muppet is always good for ruining a decent discussion.
  • #571,937
  • Dec 8, 2011 10:49am Dec 8, 2011 10:49am
Quoting FXMastermind
Solid gold and perfectionalism at its best...

...itīs all about hard work. As in every business, ffs! Hard work leads to edge. Without edge you are screwed.

99% people seek workarounds, easy ways (robots and this sh_t), we are lazy society looking for easy ways out. Those constitute those losers who fill in pockets of those who spend countless hours, evenings, weekends over books and charts.

Again - as in every business.

Some do get lucky, maybe one in a million somehwere. However for every one else, it takes hard work to make it in this business. Most noobies just can't hack that kind of commitment and give up, hence the failure rate.

You really don't need to be very clever in this business, you can teach a monkey how to trade as long as you give him enough bananas.



Seiously though, just about anyone can make it in this business (except maybe incrediblle) if you spend enough time and effort.

Using Incrediblle as an example, he really hasn't started yet, he may have traded for 3 years, however he has not started his journey to ever getting there, and with his attitude, he never will.

Some get it on day 1 and put the effort in right from the start, some waste 5 years of their life before they finally realise what it really takes to make it.

The choice is entirely upto you kids reading this.
  • #571,938
  • Dec 8, 2011 10:50am Dec 8, 2011 10:50am
Quoting FXMastermind

Again - as in every business.
Absolutely. I run another business which was doing very well before the slowdown and is still OK but anyways... people would say 'oh, you've been very lucky'.

Funny thing though... I always found that the harder I worked, the luckier I got.
  • #571,939
  • Dec 8, 2011 10:51am Dec 8, 2011 10:51am
Quoting FXMastermind
Solid gold and perfectionalism at its best...

...itīs all about hard work. As in every business, ffs! Hard work leads to edge. Without edge you are screwed.

99% people seek workarounds, easy ways (robots and this sh_t), we are lazy society looking for easy ways out. Those constitute those losers who fill in pockets of those who spend countless hours, evenings, weekends over books and charts.

Again - as in every business.
true. hours should be spent on this, otherwise you're a bust.
thousands of newcomers to trading try it out, fail at first, and jump into the abyss of holy grail searching, they find it, fail again and look for another grail.

it never stops.
  • #571,940
  • Dec 8, 2011 10:52am Dec 8, 2011 10:52am
Quoting DaveUK
Absolutely. I run another business which was doing very well before the slowdown and is still OK but anyways... people would say 'oh, you've been very lucky'.

Funny thing though... I always found that the harder I worked, the luckier I got.

You have to make your own luck, very few are given it.
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