- #3,584
- Dec 14, 2011 4:50am Dec 14, 2011 4:50am
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
Doing what you like is Freedom. Liking what you do is Happiness.
- #3,587
- Edited 9:05am Dec 14, 2011 8:17am | Edited 9:05am
Hi everyone,
My week is over (500 with Eu and Gu)....so some time for provocative thoughts and intelligent discussion
.....at least I hope so....
"All commodity markets are created by people who disagree on value and agree on price" Bill Williams
To read many times....and understand what it means.....
Now it comes:
1) Buy low and sell high
2) Trend is your friend
Just concentate a little bit....These 2 statements are ABSOLUTELY INCOMPATIBLE....following trend is a follower's mind....buying low & selling high is standing in the way of the trend....
Now comes the real question:
What kind of trader you want to be ??????
Perso I choosed my side: never been a follower
Professional traders working for banks, hedge funds or multinational companies...... have to make high profits, so they try to buy low and sell high......with big amounts to attire the followers (what creates trends ...........) or they are fired.....and so they are at the start (buy) and end (sell) of each move ....
Does it mean we, ridiculously small individual amateur traders, have to be only followers.....sometimes entering at the end of a move....it's just a personal answer.....especially a personality answer
So what I mean here is following trend is an easier path to be profitable....and you have another one which requires skill and experience: to understand the underlying structure of a market which is about cycles and waves....which will allow you to trade differently.....with the pros....looking essentially at market cycles (images of pros trading)....and especially looking for their tops and bottoms.....coz that's where big money is
Well it had to be said.......
Happy Chrismass
My week is over (500 with Eu and Gu)....so some time for provocative thoughts and intelligent discussion
.....at least I hope so...."All commodity markets are created by people who disagree on value and agree on price" Bill Williams
To read many times....and understand what it means.....
Now it comes:
1) Buy low and sell high
2) Trend is your friend
Just concentate a little bit....These 2 statements are ABSOLUTELY INCOMPATIBLE....following trend is a follower's mind....buying low & selling high is standing in the way of the trend....
Now comes the real question:
What kind of trader you want to be ??????
Perso I choosed my side: never been a follower
Professional traders working for banks, hedge funds or multinational companies...... have to make high profits, so they try to buy low and sell high......with big amounts to attire the followers (what creates trends ...........) or they are fired.....and so they are at the start (buy) and end (sell) of each move ....
Does it mean we, ridiculously small individual amateur traders, have to be only followers.....sometimes entering at the end of a move....it's just a personal answer.....especially a personality answer
So what I mean here is following trend is an easier path to be profitable....and you have another one which requires skill and experience: to understand the underlying structure of a market which is about cycles and waves....which will allow you to trade differently.....with the pros....looking essentially at market cycles (images of pros trading)....and especially looking for their tops and bottoms.....coz that's where big money is
Well it had to be said.......
Happy Chrismass
Non licet omnibus adire Corinthum
- #3,588
- Dec 14, 2011 8:27am Dec 14, 2011 8:27am
- Joined Oct 2007 | Status: Trader | 2,972 Posts
hiif you mean me acting as a signal provider - i will never make that, even if i become really good, i want to be responsible for my own money only.
BIG BIG BIGkeep it up!
(for those who miss it - the account is a real one!)
Any luck at automation? (i.e. EA)
Inquiring minds wish to know.
Eval.
MaryJane..
Any luck at automation? (i.e. EA)
Inquiring minds wish to know.
Eval.
guess what i'll be doing in holidays!It will be out early January. I promise. I'll PM you and send it to you first.
-----------------
re Trend vs CounterTrend debate:
sometimes, especially after closing a good trend trade, i tend to fail prey to the countering demon too
trade i'm currently in: 123 bottom (clear on M15), entered @M1 with my symphonie/stoch mod. tight stop is a must(13 pips in this trade, and that's a lot! usually it's less). i try this only once per move, i get stopped out so many times because i don't move stop to be too soon but the occasional winners are such a good R:R (usually better than 5:1R, sometimes 10:1R!), i simply can't stop tryin'
+5/-5 pips for about a hour, it will work out or i lose 13 pips!
edit: stopped out! and i will do it again! but no more today.
however, my fault in this one: i was +18 within few minutes.. wasn't good for me
greedy = silly!
MarginTrader All Time Return:
na
- #3,590
- Dec 14, 2011 4:08pm Dec 14, 2011 4:08pm
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
Great job.
I don't trade GU RJ, the chart looks really messed up most of the times.
I salute u for trading this mess. No disrespect.
But could you offer some tips or insights when you trade GU?
I want to try this pair on demo next month.
Trading M1 means you have to focus on the charts and watch them closely.....like Noda!! I prefer to trade M5 as per the system, and I would like to trade M15, but the reality is that my time zone doesn't allow that, so I have to look 'outside the square' a little bit.
As far as the best times for trading GU goes, for me, it's the first 3 hours of London session, but, as I said, there are some great moves after I have gone to sleep.
The thing to be aware with GU trading though is that is can have some pretty large swings sometimes, and sometimes they can be pretty violent too, so make sure you keep those SL's on your charts!
Sorry I can't be much more help, just watch the GU PA next year and demo some trades until you feel comfortable. It can be a great pair to trade.
Doing what you like is Freedom. Liking what you do is Happiness.
- #3,591
- Dec 14, 2011 4:12pm Dec 14, 2011 4:12pm
My trading day, for all currency pairs begins 1 hour before Frankfurt opens, and ends about 3 hours after London opens. I know what you mean about the GU charts being messy, they certainly can be at times but if you look to another time frame, sometimes the picture is much clearer. During early London yesterday, the M5 and M15 were not offering anything so I changed to the M1 chart. The M1, while not offering huge pips per trade, was very trade-able with a +9, +12 and +29 trades. There were some better trades later, that the M5 could handle, but...
- #3,592
- Dec 14, 2011 4:26pm Dec 14, 2011 4:26pm
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
Hi everyone,
My week is over (500 with Eu and Gu)....so some time for provocative thoughts and intelligent discussion
"All commodity markets are created by people who disagree on value and agree on price" Bill Williams
To read many times....and understand what it means.....
Now it comes:
1) Buy low and sell high
2) Trend is your friend
Just concentate a little bit....These 2 statements are ABSOLUTELY INCOMPATIBLE....following trend is a follower's mind....buying low & selling high is standing in the way of the...
Counter trend trading can be quite lucrative provided you are as nimble as a rabbit and you approach those trades with a very different mindset to that of the trend follower. Counter trend trading is a different beast altogether.....it's like ice skating and roller skating.....both are skating, but both demand different skills!
Picking tops and bottoms though, for us retailers, is (imo) a fools game and will lead to many losses, which are totally unnecessary. For instance, when EU rose of the lows of 1.1865 last year.....the resultant uptrend was good for more than 4,000 pips in a straight line.....not counting the retracements along the way. The confirmation of the reversal took about 400 pips. I don't mind missing out on 400 pips to hitch a ride on a 4,000 pips (minimum) trend!!
Same when it reversed fro 1.4950 this year.....it took about 300 pips to confirm the reversal, and here we are now, some 2,500 pips later, still in a solid down trend. I can miss out on 300 pips to gain 2,500 minimum!
Us retailers don't have the collective power to move the market very much.....we certainly can't change trends. Also, we are the last to get the news......we are lagging traders!!!
For me, every trade *could* be the one that gets stopped out as the trend reverses, that's part of the risk and that's one reason why we have SL's.
The market will reverse when it wants to......we have to adapt to the various changes and make money from them. To persistently counter trend trade in an effort to pick a top or a bottom will result in many losses.
RJ
Doing what you like is Freedom. Liking what you do is Happiness.
- #3,594
- Dec 14, 2011 11:06pm Dec 14, 2011 11:06pm
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
Doing what you like is Freedom. Liking what you do is Happiness.
- #3,595
- Dec 14, 2011 11:21pm Dec 14, 2011 11:21pm
- Joined Jul 2011 | Status: Gold Again | 10,600 Posts
It takes a lot for me to IGNORE you, but you can try.
- #3,597
- Edited 11:26am Dec 15, 2011 8:09am | Edited 11:26am
Hi Symphonie fans !
** Update V1.0048 ***
- Fixed a bug for RSI values
- Added Stochastics (overbought, oversold & direction)
So, a long time ago I worked with Eval on an EA for this system. I finally give up because it gave bad results in backtests mainly due to repainting. An EA is still an EA. You will see, this is the version 48 I think, lol !
I think it is too stupid to give up so I restarted from scratch and made a new one based on the latest Steve's shell. It isn't really an EA because it won't trigger trades. You will just have a popup+sound alert when all conditions are met.
So, it follows strict rules, when all fours are same color, you will receive an alert+popup.
I added just a RSI(10) to check price direction, oversold and overbought zones on the current and the higher TF. You can enable this in the EA panel to add that to the rules.
I also added daily pivot, support and resistance because I like them. You will see three dotted lines (magenta for the pivot, red for S1 and blue for R1)
I didn't add the possibility to trigger a trade, I'm waiting your inputs and I can convert this into a real EA. Exist is the most critical part anyway. But anyway, if you want to play with it, the mql4 version is here.
All values are configurable in the EA panel (I know Eval like this héhé).
All indicators used are in the attachment and the EA of course.
Enjoy and I would love your feedback !
Cheers,
LhDT
PS : It isn't probably nice code as Steve Jobs or B.Gates should have done, but logic is there
PPS : Coders, make that thing work ! :-)
PPPS : Please avoid questions like : What is an EA, where do I save this ?, etc ... thanks!
** Update V1.0048 ***
- Fixed a bug for RSI values
- Added Stochastics (overbought, oversold & direction)
So, a long time ago I worked with Eval on an EA for this system. I finally give up because it gave bad results in backtests mainly due to repainting. An EA is still an EA
. You will see, this is the version 48 I think, lol !I think it is too stupid to give up so I restarted from scratch and made a new one based on the latest Steve's shell. It isn't really an EA because it won't trigger trades. You will just have a popup+sound alert when all conditions are met.
So, it follows strict rules, when all fours are same color, you will receive an alert+popup.
I added just a RSI(10) to check price direction, oversold and overbought zones on the current and the higher TF. You can enable this in the EA panel to add that to the rules.
I also added daily pivot, support and resistance because I like them. You will see three dotted lines (magenta for the pivot, red for S1 and blue for R1)
I didn't add the possibility to trigger a trade, I'm waiting your inputs and I can convert this into a real EA. Exist is the most critical part anyway. But anyway, if you want to play with it, the mql4 version is here.
All values are configurable in the EA panel (I know Eval like this héhé).
All indicators used are in the attachment and the EA of course.
Enjoy and I would love your feedback !
Cheers,
LhDT
PS : It isn't probably nice code as Steve Jobs or B.Gates should have done, but logic is there
PPS : Coders, make that thing work ! :-)
PPPS : Please avoid questions like : What is an EA, where do I save this ?, etc ... thanks!
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