Menu

Options

Bookmark Thread

First Page First Unread Last Page Last Post

Print Thread

Similar Threads

Rags to Riches in 10 or 20 Trades - Simplicity at its finest 2,797 replies

Rags to Riches 21 replies

rags to more rags.. and even more rags! 19 replies

Rags to rags and ice cream 36 replies

Rags To Riches Take 2 24 replies

Attachments: Rags To Riches
Exit Attachments

Rags To Riches

  • #81
  • Quote
  • Jan 13, 2012 7:09am Jan 13, 2012 7:09am
Quoting FOURX
Thanks L T

So if it closes back inside your B or C line by more than 2 pips you ignore the trade?


4 - 5 points is my limit
PREPARATION is PARAMOUNT for PEAK PERFORMANCE....
  • #82
  • Quote
  • Jan 13, 2012 1:16pm Jan 13, 2012 1:16pm
Fantastic week trading LT. I agree with Stompe, you are sharing something very simple and nice with us. I will only be trading E/U to start off so at the end of next week, I will do the same as LT just did and display my weekly trading results.

I just want to thank LT again for helping those who are willing to be helped. I will be the first to admit that my trading has been a disaster ever since I found forex but this year I want that to be different.

I look forward to contributing in a helpful manner to the thread and cheering for others as they build a successful trading career.

I hope everybody has a wonderful weekend and lets make this thread a place of respect and successful trading. It always helps to have a thread starter like LT!

Quoting Line-Trader
Ok,

Here's this weeks results:-

Mon 9/1 No Trade Day (Mon after NFP)
Tues 10/1 +5.6%
Wed 11/1 +4.15%
Thurs 12/1 +2%
[size=3][font=Comic Sans MS][color=blue]Fri 13/1 Not Trading...
  • #83
  • Quote
  • Jan 13, 2012 3:01pm Jan 13, 2012 3:01pm
Quoting LuckyLefty
Fantastic week trading LT. I agree with Stompe, you are sharing something very simple and nice with us. I will only be trading E/U to start off so at the end of next week, I will do the same as LT just did and display my weekly trading results.

I just want to thank LT again for helping those who are willing to be helped. I will be the first to admit that my trading has been a disaster ever since I found forex but this year I want that to be different.

I look forward to contributing in a helpful manner to the thread and cheering for...

Here's to a successful and profitable thread....
Attached Image
PREPARATION is PARAMOUNT for PEAK PERFORMANCE....
  • #84
  • Quote
  • Jan 13, 2012 3:38pm Jan 13, 2012 3:38pm
Quoting LuckyLefty
Fantastic week trading LT. I agree with Stompe, you are sharing something very simple and nice with us. I will only be trading E/U to start off so at the end of next week, I will do the same as LT just did and display my weekly trading results.

I just want to thank LT again for helping those who are willing to be helped. I will be the first to admit that my trading has been a disaster ever since I found forex but this year I want that to be different.

I look forward to contributing in a helpful manner to the thread and cheering for others as...
I would like to second those sentiments. I have subscribed to this thread and will watch with interest. Thanks LT for sharing your system and more importantly setting the thread ground rules up front .
Audentes Fortuna Juvat
  • #85
  • Quote
  • Jan 13, 2012 6:07pm Jan 13, 2012 6:07pm
Compliments for an easy strategy to implement and thanks for sharing. I'm sure working out where to place the lines is not as easy.
Myself not going to be able to watch trades unfold, so only going to trade the pending orders.Will see how it goes.
Thanks again
  • #86
  • Quote
  • Jan 14, 2012 3:11am Jan 14, 2012 3:11am
I wanted to share a piece of advice here that I feel may help others. I just got done reading the thread for the 3rd time. Some may call that crazy but for me, it's me doing my due diligence.

I will tell you that after re-reading the thread I'm becoming more intune with the method. It's a simple method so it's not difficult to understand but I love learning.

We can't go back and pull up charts and backtest because we don't know how the levels are determined but we can still continue to work and do our part.

I feel that if you want to succeed in this business, you have to put in the work and sacrafice.

I've been trading for 7 years now with no success because I was always standing in my own way. This year I started fresh and told myself that this is the year that I will change my life for the better and become a consistently profitable trader and take my trading account to a higher level.

So my advice to those who are in the same position as me and looking to finally reach success in trading, put in the work and truly work on what you have been doing wrong. Stop pointing fingers or making excuses.

This may sound crazy but when I'm struggling with something, it can be trading or anything in life, I go in my bathroom, look myself in the mirror and have a conversation with myself. My reasoning for doing this is because I know it all begins and ends with me. I'm in total control and I know this. I'm very passionate about reaching my goals this year and I want others to reach their goals also. I'm not saying that I have all of the answers or anything like that. I'm just willing to share whatever I can to help those who are trying to reach their goals just like me.

We can all see our dreams come true this year. Never give up and always believe in your ability and we will see our dreams become our realities this year.
  • #87
  • Quote
  • Jan 15, 2012 6:29pm Jan 15, 2012 6:29pm
Evening,

Trust you all had a good weekend.

Here's the figures for 16 January:-


DOW 12554 / 12502 / 12396 / 12344
S&P 1306.5 / 1300.3 / 1288.1 / 1281.9
FTSE 5701 / 5666 / 5595 / 5560

E/U 1.2820 / 1.2750 / 1.2610 / 1.2541
G/U 1.5413 / 1.5365 / 1.5269 / 1.5221
A/U 1.0399 / 1.0362 / 1.0288 / 1.0251
U/CAD 1.0298 / 1.0265 / 1.0198 / 1.0165
U/CHF .9612 / .9566 / .9474 / .9428
E/J 98.45 / 98.01 / 97.12 / 96.68
PREPARATION is PARAMOUNT for PEAK PERFORMANCE....
  • #88
  • Quote
  • Jan 15, 2012 11:47pm Jan 15, 2012 11:47pm
Well my friends we have the new lines for tonights trading. I hope everybody had a wonderful weekend. I had two birthday parties to attend this weekend for my niece and nephew so I was pretty busy this weekend.

I just want to remind everybody that tomorrow is a bank holiday here in the US so just know that during the US session, the market may be pretty slow. Hopefully we will be able to have some profitable trades during the London session so we can close up shop a few hours after we start and not have to worry about the US session.

Regardless of if I have profits or not I won't be trading the US session so if I don't have any trades that trigger by the US open, I will cancel all pending orders and close out any trades that are open and call it quits for the day.

Happy profits to all and I will post later as my trades are triggered.

Quoting Line-Trader
Evening,

Trust you all had a good weekend.

Here's the figures for 16 January:-


DOW 12554 / 12502 / 12396 / 12344
S&P 1306.5 / 1300.3 / 1288.1 / 1281.9
FTSE 5701 / 5666 / 5595 / 5560...
  • #89
  • Quote
  • Jan 16, 2012 12:59am Jan 16, 2012 12:59am
im going to give the strategy a bash this week, have my lines abc&d on my charts. lets see what happens. good luck all!
Keep It Simple Stupid
  • #90
  • Quote
  • Jan 16, 2012 1:58am Jan 16, 2012 1:58am
Quoting LuckyLefty
Well my friends we have the new lines for tonights trading. I hope everybody had a wonderful weekend. I had two birthday parties to attend this weekend for my niece and nephew so I was pretty busy this weekend.

I just want to remind everybody that tomorrow is a bank holiday here in the US so just know that during the US session, the market may be pretty slow. Hopefully we will be able to have some profitable trades during the London session so we can close up shop a few hours after we start and not have to worry about the US session.

Regardless...
Lucky Lefty,

You are aware that these numbers are spread numbers and not futures contracts ,aren't you?
  • #91
  • Quote
  • Jan 16, 2012 2:07am Jan 16, 2012 2:07am
Hello Fair Dinkum,

No, I'm not sure what you are talking about but if you could explain that would be greatly appreciated.

I only trade the E/U currency pair so those are the only lines that I look to plot on my chart each evening. The remaining 5 currency pairs and the 3 indices I am ignorning for now.

Quoting Fair Dinkum
Lucky Lefty,

You are aware that these numbers are spread numbers and not futures contracts ,aren't you?
  • #92
  • Quote
  • Jan 16, 2012 2:57am Jan 16, 2012 2:57am
just want to make sure every one has a long trade on A/U?
Keep It Simple Stupid
  • #93
  • Quote
  • Jan 16, 2012 3:02am Jan 16, 2012 3:02am
Quoting LuckyLefty
Hello Fair Dinkum,

No, I'm not sure what you are talking about but if you could explain that would be greatly appreciated.

I only trade the E/U currency pair so those are the only lines that I look to plot on my chart each evening. The remaining 5 currency pairs and the 3 indices I am ignorning for now.
Ok my concern was you showed the ranges for dow,ftse and s&p and the fact that you live in the US means you cannot trade spreads on those indices.

Currencies , of course, are a different issue.

Good luck with E/U. FYI, I am "stuck" as I only trade futures and don't have F/X account.
  • #94
  • Quote
  • Jan 16, 2012 3:17am Jan 16, 2012 3:17am
Simplicity is really the key,

what is the math behind A,B,C,D ?

Let us know if it's something that you want to keep private.

I'm actually surprised that noone asked , but then again it is partly justified,being a journal and all.





subscribed.
  • #95
  • Quote
  • Jan 16, 2012 3:47am Jan 16, 2012 3:47am
Hi Flui,

If I am not wrong, this is the following differences on the line:

Length of AD = 100%
Length of AB = 25%
Length of CD = 25%
Length of BC = 50%

You can achieve those lines by tweaking your fibo at this percentage.

What I am curious and not clear is how Line-Trader come out with the value of A and D.
1. Base on just previous day price action?
2. Base on previous day and some other days price action?
3. Etc

Thanks in advance if LT willing to share more with us.


Nice thread, I will be stalking this page. ;D
The only winner is the one who survive the longest...
  • #96
  • Quote
  • Jan 16, 2012 4:45am Jan 16, 2012 4:45am
There just camarilla points a bit tweaked from look of them

http://www.actionforex.com/markets/p...2010040952157/

R4 = A
R3 = B
S3 = C
S4 = D
  • #97
  • Quote
  • Jan 16, 2012 4:46am Jan 16, 2012 4:46am
A few people have asked this question before. In post 1, LT stated that it is his own doing on how the levels are determined. As of right now, I don't believe that LT is ready to divulge the information on how he determines the lines.

I can understand your concern and wanting to know because I would like to know also but I figured that if he is willing to share it, he will share it with us.

LT has shared something with us that we all like and my advice would be that we don't push the issue to much and push LT away. I don't want to see this thread turn into anything negative or people getting upset because he has not shared how to trade the lines and then the thread becomes a battle back and forth over the lines. My advice is continue to take advantage of the days that LT does share the lines and use them to your best advantage.

If LT decides to share how the lines are determined I'm sure we all would be thankful but if not, I'm thankful for what he has already done just as equally.

Thanks LT!!!

Quoting fluiDynamic
Simplicity is really the key,

what is the math behind A,B,C,D ?

Let us know if it's something that you want to keep private.

I'm actually surprised that noone asked , but then again it is partly justified,being a journal and all.





subscribed.
  • #98
  • Quote
  • Jan 16, 2012 7:58am Jan 16, 2012 7:58am
As much as I would like to know so that I can convert to futures, one has to respect LT's offer to help traders by creating this thread.
  • #99
  • Quote
  • Jan 16, 2012 11:55am Jan 16, 2012 11:55am
I completely agree with you my friend. Everything happens in due time. We must respect him and his thread.

Quoting Fair Dinkum
As much as I would like to know so that I can convert to futures, one has to respect LT's offer to help traders by creating this thread.
  • #100
  • Quote
  • Jan 16, 2012 12:01pm Jan 16, 2012 12:01pm
Well there were no trades for me today. I'm only trading E/U in my live account and there was no signal generated for E/U today. So in my book, it was a winning day today for this method because I did not have a losing trade.

If I make money on the day, of course that is a winner but I also believe anytime I don't lose money and have a no trade day, that's a winning day also.

Hopefully for those who trade all the currencies if you did have trades generate that they were winners for you.
1 trader viewing now