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  • #4,221
  • Feb 10, 2012 9:25am Feb 10, 2012 9:25am
Quoting Cun
Hey this is a very sensible advice. Though I personally would like to have a bit higher monthly target something like 10%.

The good thing about the spot forex market is that there is a ton of money to be made. The bad thing about the spot forex market is there is a ton of money to be made...

If you have a target of 4% per month and you compound that monthly for one year, you have a return of 60%. I'd like to see you go to your investment broker and tell him that you want to invest your money, but it has to get a 60% return. See what he says.

Now, I'm not saying that wanting more is bad, but keep everything in perspective. I used to focus on pips, ROI, etc. I found that, at least for me, it had an adverse affect on my trading. All I really think about now is getting into good trades. I know if I do that, everything else will take care of itself.
  • #4,222
  • Feb 10, 2012 9:28am Feb 10, 2012 9:28am
Quoting emmanuel7788
Hi wrenski

...a 'little bird' told me so.
my Big Picture is always my guide, when the market decides to make its move, it will not take me along....so I have to depend on this 'little bird'.
there are a lot of stuff written about what moves the market, and who moves the market, about brokers, ECN, MM, etc.

ultimately, I chose to take that RED pill
I have an aviary too.....lol.....
Memories caught in time but never forgotten
  • #4,223
  • Feb 10, 2012 9:29am Feb 10, 2012 9:29am
Quoting christiaandu
Well done X-Man. But can you share your 4H trades? I didnt see any signals on those pairs. Thought one had to wait for a break outside blue bands?

I took 2 trades on the 4h method (as I understand it) but they both went bad. Not sure what I am missing...
I did post the charts.
The trades were taken according to the TMS rules which i still follow and apply as it gives you lots of good trades and thats where my thread originated from.
You can go to the TMs thread to learn everything there is about it.
There is no use discussing those rules here again when everything is there already.
X-man the legendary conqueror of markets
  • #4,224
  • Feb 10, 2012 9:31am Feb 10, 2012 9:31am
Quoting hale-mary
whats wrong with this entry long on the opening of the second candle. First blue candle seemed perfect. Entered here and got stopped out for 50 pips due to that huge red candle. I realize I have not progressed far as I thought I have. Overall Loss for the week.
There was nothing wrong with your entry....your exit however needs work. I made the same trade and even traded into a resistance line on my chart (not really awake yet, at the time). The difference is that I did not take the 50 pip loss. I closed it for a loss of 11 pips but then on the open of the next candle, entered a short trade down to the 200 EMA for +76 pips. The 2nd blue candle that we traded became a very nice pullback candle, so a short entry at the open of the 3rd candle was a no brainer. You just need some more practice to close the losers early and let the winners run.
  • #4,225
  • Feb 10, 2012 9:33am Feb 10, 2012 9:33am
Quoting Cun
Hey this is a very sensible advice. Though I personally would like to have a bit higher monthly target something like 10%.
Hi Cun,

If you can achieve 10% a month, your trading with the gods....

wish you all the best.

Ja.
Memories caught in time but never forgotten
  • #4,226
  • Feb 10, 2012 9:34am Feb 10, 2012 9:34am
Emmanuel

Give a red pill. do you have some for me?

How was that movie limitless. Wish i had some of those pills
X-man the legendary conqueror of markets
  • #4,227
  • Feb 10, 2012 9:37am Feb 10, 2012 9:37am
Quoting X-Man
Emmanuel

Give a red pill. do you have some for me?

How was that movie limitless. Wish i had some of those pills
That would be called dealing.....
Memories caught in time but never forgotten
  • #4,228
  • Feb 10, 2012 9:44am Feb 10, 2012 9:44am
Quoting X-Man
Emmanuel

Give a red pill. do you have some for me?

How was that movie limitless. Wish i had some of those pills
When anyone decides to trade forex for a living, he only need to take one BIG RED pill. Then the Market aka "Morpheus" will show us everyday how deep this forex shit hole is in reality.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #4,229
  • Feb 10, 2012 9:50am Feb 10, 2012 9:50am
Emmanuel7788...would you mind sharing your Support/Resistance indicator on post 4222? Thanks
  • #4,230
  • Feb 10, 2012 9:50am Feb 10, 2012 9:50am
Quoting Phx62
There was nothing wrong with your entry....your exit however needs work. I made the same trade and even traded into a resistance line on my chart (not really awake yet, at the time). The difference is that I did not take the 50 pip loss. I closed it for a loss of 11 pips but then on the open of the next candle, entered a short trade down to the 200 EMA for +76 pips. The 2nd blue candle that we traded became a very nice pullback candle, so a short entry at the open of the 3rd candle was a no brainer. You just need some more practice to close the...
Awesome and true answer!!! You speak the truth my friend!!!
  • #4,231
  • Feb 10, 2012 9:53am Feb 10, 2012 9:53am
Ok right now im reading the thread behind price -Orderflow.

What truths are they scared to reveal?????
What am i not getting?
Is there something im missing?

What do i have to look at ?
What white space are they talking about?
WHITE SPACE!!!!!!!!!
X-man the legendary conqueror of markets
  • #4,232
  • Edited 1:14pm Feb 10, 2012 9:54am | Edited 1:14pm
10 trades this week.
9 winners.
1 loser.
+419 pips.
In retrospect, I should have only taken 8 trades.....I broke the rules of my trading plan to enter the Asian session trade on Thursday and I should not have taken the long Friday morning trade INTO resistance. Normally I would have waited for the Asian session high to be broken on the first candle of the London session. If I had done that, I would not have incurred a loss there.
Overall a good week.
Attached Image (click to enlarge)
Click to Enlarge Name: 2.10.12 week.jpg Size: 133 KB
  • #4,233
  • Feb 10, 2012 10:02am Feb 10, 2012 10:02am
Quoting X-Man
Ok right now im reading the thread behind price -Orderflow.

What truths are they scared to reveal?????
What am i not getting?
Is there something im missing?

What do i have to look at ?
What white space are they talking about?
WHITE SPACE!!!!!!!!!


Hi X-man

Somewhere on the forum are some articles from a guy called DarkStar,

He nails the explanation of Order flow.....

It was a while ago when i read these, i will try and find them to post..

Ja.
Memories caught in time but never forgotten
  • #4,234
  • Feb 10, 2012 10:03am Feb 10, 2012 10:03am
I think i will also have to spend hours alone in the dark just like that guy. Then ill figure what they going on about.

This thread caught my eye. Im not going to leave it alone until i understand.
X-man the legendary conqueror of markets
  • #4,235
  • Feb 10, 2012 10:05am Feb 10, 2012 10:05am
Please help me!
I download Sonic panel from the link that was posted by X-Man. I install this indicator in MT but I can/t see the pivot or S/R. I can see only spread, candle and range!
What is the problem?! What can I do to see pivot and S/R?!
Thanks!
  • #4,236
  • Feb 10, 2012 10:07am Feb 10, 2012 10:07am
Quoting j4d
Hi X-man

Somewhere on the forum are some articles from a guy called Dark Star,

He nails the explanation of Order flow.....

It was a while ago when i read these, i will try and find them to post..

Ja.
thanx buddy i would appreciate it.
Until then I'll be digging this rabbit hole and see where we go.

They saying that if traders know about what ever they going on about they will be driving aston martins.

So far the clue is to look at naked charts. Traders are missing the bigger picture because they have too many indis.
X-man the legendary conqueror of markets
  • #4,237
  • Feb 10, 2012 10:08am Feb 10, 2012 10:08am
Thanks phx62 for your continuing posts - they are inspiring and frustrating in equal measure! Inspiring because you are continually showing that it can be done on a consistent basis and frustrating because like hale-mary every time I think I have it nailed I fall into another trap!

Your weekly summary charts are great and provide a very useful source of reference data for those of us still struggling so please keep them coming.

Have a great weekend everyone
  • #4,238
  • Feb 10, 2012 10:11am Feb 10, 2012 10:11am
Quoting X-Man
Ok right now im reading the thread behind price -Orderflow.

What truths are they scared to reveal?????
What am i not getting?
Is there something im missing?

What do i have to look at ?
What white space are they talking about?
WHITE SPACE!!!!!!!!!


Sounds as though you will need to buy Darkstar's book to get the answers somewhat revealed. I have bitten on these teases before and they so far have turned out to be hoaxes. A true example of smoke and mirrors is TKPower8's ATM.
  • #4,239
  • Feb 10, 2012 10:11am Feb 10, 2012 10:11am
Order flow? That'll prob boggle my aging brain. Pull back candles on 1hr in trend ie 1hr higher lows/lower highs will for the most part give you all that you need. See the chart about 5 posts above to explain all.
  • #4,240
  • Feb 10, 2012 10:14am Feb 10, 2012 10:14am
Quoting jasonnevis
Thanks for the insight into your trading routine.

Very interesting to know that setup an alarm each hour. Do you set it 10 to 15 min before the close of the hour, or right on the hour? This is something have been thinking of doing myself. Do you use a normal alarm clock or some specific trading alarm clock? Have been looking for a traders alarm, client either hardware, software (iphone app), can't see to find one specifically designed for traders.....

Can you please share the EA that you use to manage trades?

Thanks Phx!

PS, Did you catch...
Jason, not sure if you had an answer for an alarm clock yet. This is the one I use on my laptop next to my bed at night.

http://freealarmclocksoftware.com/

Enjoy.
"... and money is the answer for everything." Ecclesiastes 10:19
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