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  • #121
  • Mar 29, 2012 5:27am Mar 29, 2012 5:27am
Quoting QuadrupleX
That's more semantics (trust and believe) 99.9999999% trust ( or believe) is still not trust.

Now about your example it falls under binary laws meaning they are random at best.

And thats ok if you decide to trust or not to trust somebody as long you are aware of the "probability" not certainty of the outcome.
Many times it's not random. I wouldn't take the bet if I thought it was random IN THIS CASE. Because all of us have some ability to judge people from what they write on these forums, even if it's the only thing we know about them. I've been reading many posts from many people and some I believe, some I do not, and for others I haven't formed an opinion. In any case, this is something we all do, daily, both on the internet and in real life. We have to decide whether what others are telling us is true or not and act according to our beliefs. We don't always have evidence, but often we must act without it. Some are better and some are worse at this game, of course.
  • #122
  • Edited 1:19pm Mar 29, 2012 5:30am | Edited 1:19pm
Quoting QuadrupleX
You are missing the point. I'm NOT calling you a liar.

I'm just saying that since all data is in the past it invalidates the operation.

Now if you make a call today and tomorrow it stands and if you do it tomorrow and the next day it stands, the more it happens the more I have data (proof) that you are a consistent trader.
I don't think you're calling me a liar. I'm just amazed that you won't/can't believe what I have shared as being true. That's all. People can choose not to believe for different reasons, some of which have nothing to do with the truth presenter or the truth presented. Even in trading, they can choose not to believe what their system is telling them about the market and price action. We all know what can happen if we don't believe what the market is telling us as well.

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #123
  • Mar 29, 2012 5:52am Mar 29, 2012 5:52am
Quoting micmic
Many times it's not random. I wouldn't take the bet if I thought it was random IN THIS CASE. Because all of us have some ability to judge people from what they write on these forums, even if it's the only thing we know about them. I've been reading many posts from many people and some I believe, some I do not, and for others I haven't formed an opinion. In any case, this is something we all do, daily, both on the internet and in real life. We have to decide whether what others are telling us is true or not and act according to our beliefs. We don't...
Real life is a little different because you have more data. O lot of times even with a huge amount of data you can still be fooled but you definitely have better odds.

The problem with forums is that you only have what people tell you. You can analyse what people write and try to get a educated conclusion but the hard data is pretty much absent. If some big ego in need of 15 minutes of fame or an income source decides to deceive you I would say he or she can definitely succeed.
  • #124
  • Mar 29, 2012 6:19am Mar 29, 2012 6:19am
Quoting QuadrupleX
Real life is a little different because you have more data. O lot of times even with a huge amount of data you can still be fooled but you definitely have better odds.

The problem with forums is that you only have what people tell you. You can analyse what people write and try to get a educated conclusion but the hard data is pretty much absent. If some big ego in need of 15 minutes of fame or an income source decides to deceive you I would say he or she can definitely succeed.
to be fair to micmic,after browsing through various threads here on ff,in percentage wise theres alot more traders looking for advise and help than there are traders making claims of huge profits with concistency,from my observations most are openly running around in circles looking for the honest winning trader to gain some knowledge.

i woulld assume most are fairly honest as a whole.

i hope
  • #125
  • Mar 29, 2012 6:27am Mar 29, 2012 6:27am
Hi all,

I'll get to the point right away. I don't use any indicator at all, all what I use is a 4H EUR/USD chart.

The way I make my 20 Pips a day is I start with the 5pm(EST) candle stick and let it close. The next candle after the close of the 4hour 5pm(EST) candle stick which starts at 9pm(EST) will be my entry candle.

The way I enter long or short. If the 9pm(EST) candle breaks the previous High 4H candle I go long for 20 pips. If the candle breaks the previous Low 4H candle I go short for 20 pips.

STOP LOSS IS VICE VERSA:

Long: Stop if the candle hits the Low of the previous 4H candle.
Short: Stop if the candle hits the high of the previous 4H candle.

http://i40.tinypic.com/rkngcl.jpg
  • #126
  • Edited 7:25am Mar 29, 2012 7:14am | Edited 7:25am
Quoting ultramoe
Hi all,

I'll get to the point right away. I don't use any indicator at all, all what I use is a 4H EUR/USD chart.

The way I make my 20 Pips a day is I start with the 5pm(EST) candle stick and let it close. The next candle after the close of the 4hour 5pm(EST) candle stick which starts at 9pm(EST) will be my entry candle.

The way I enter long or short. If the 9pm(EST) candle breaks the previous High 4H candle I go long for 20 pips. If the candle breaks the previous Low 4H candle I go short for 20 pips.

STOP LOSS IS VICE VERSA:

Long: Stop if...

Good for you !!! . Now, I have to ask, especially for other readers....

1. Do you do this every trading day, including bank holidays?

2. If so, do you make your 20 pips a day?

3. How many trades a day do you generally place?

4. Once you have made your 20 pips, do you keep trading or do you call it a day?

5. How long have you been trading and trading this particular way?

Hopefully this will be motivating to other traders.

Thanks much for posting.

FX4

P.S. Hope you are keeping those pips too

P.P.S. Just noticed that you became a member today and posted here...your first post. Thank you!!!!
Trade what you see, not what you think or feel. Let the market come to you.
  • #127
  • Mar 29, 2012 9:51am Mar 29, 2012 9:51am
Quoting FX4Newbies
Good for you !!! . Now, I have to ask, especially for other readers....

1. Do you do this every trading day, including bank holidays?

2. If so, do you make your 20 pips a day?

3. How many trades a day do you generally place?

4. Once you have made your 20 pips, do you keep trading or do you call it a day?

5. How long have you been trading and trading this particular way?

Hopefully this will be motivating to other traders.

Thanks much for posting.

FX4

P.S. Hope you are keeping those pips too

P.P.S. Just noticed that...
Hi,

Okay here's your answers lol:

1. Do you do this every trading day, including bank holidays?

Answer: Yes doesn't matter. If it breaks the HOD LOD of the 4H candle it's a trade.

2. If so, do you make your 20 pips a day?

Answer:Yes, that's my daily goal not a pip extra. If not it's then it's because I got stopped out.

3. How many trades a day do you generally place?

Answer:Only one trade. It has to break the 4H LOD OR HOD, and that does not mean the next candle does not break I don't wait for the next candle as well. As long as any candle breaks the HOD or LOD first 4H candle I'm in.


4. Once you have made your 20 pips, do you keep trading or do you call it a day?

Answer: No, only one trade a day.

5. How long have you been trading and trading this particular way?

Answer: I started doing it with stocks however on the first 30min candle and not the 4H. I started doing this with Forex or EUR/USD since last year.
  • #128
  • Edited 1:39pm Mar 29, 2012 1:17pm | Edited 1:39pm
Quoting ultramoe
Hi,

Okay here's your answers lol:

1. Do you do this every trading day, including bank holidays?

Answer: Yes doesn't matter. If it breaks the HOD LOD of the 4H candle it's a trade.

2. If so, do you make your 20 pips a day?

Answer:Yes, that's my daily goal not a pip extra. If not it's then it's because I got stopped out.

3. How many trades a day do you generally place?

Answer:Only one trade. It has to break the 4H LOD OR HOD, and that does not mean the next candle does not break I don't wait for the next candle as well. As long as any candle...
Thanks Ultramoe.

Just one thing for clarity...

3. How many trades a day do you generally place?

Answer:Only one trade. It has to break the 4H LOD OR HOD, and that does not mean the next candle does not break I don't wait for the next candle as well. As long as any candle breaks the HOD or LOD first 4H candle I'm in.

If you're entering when the HOD or LOD on the H4 9:00 pm EST candle is broken, what does the statement in bold mean, especially the underlined part?

I guess it would be interesting to know how often you are stopped out.

Just thought I'll add this....saw this some time ago (sorry, can't remember where now). Saw a method where the trader would take the High, Low and Closing prices of an H4 candle and find the average: H+L+C /3). If the current price were above that average price, they would be looking only for longs. If the current price were below that average price, they'd be looking only for shorts. A new average is found and used after every H4 candle closed. I have not used it in my trading, so I do not know how reliable it is. It does appear to have some merit behind the concept, though it may not be fool-proof.

Thanks,

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #129
  • Mar 29, 2012 2:04pm Mar 29, 2012 2:04pm
yes i have had three profitable months in a row for the first time in 5 years, it was blood sweat and tears


however money management went out the window recently and i started trading one pound per pip but i am keeping it steady till i grow the account and no further increase
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  • #130
  • Edited Mar 30, 2012 6:31am Mar 29, 2012 2:06pm | Edited Mar 30, 2012 6:31am
Quoting Sohail786
yes i have had three profitable months in a row for the first time in 5 years


however money management went out the window recently and i started trading one pound per pip but i am keeping it steady till i grow the account and no further increase
Hey, hey .

yes i have had three profitable months in a row for the first time in 5 years, it was blood sweat and tears..I'm sure it was.

Keep it steady. Why did you say "money management" went out the window recently?


but i am keeping it steady till i grow the account and no further increase

What exactly do you mean by the statement in bold?

Did you start with mircros...looks that way.

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #131
  • Mar 29, 2012 2:08pm Mar 29, 2012 2:08pm
Quoting FX4Newbies
Thanks Ultramoe.

Just one thing for clarity...

3. How many trades a day do you generally place?

Answer:Only one trade. It has to break the 4H LOD OR HOD, and that does not mean the next candle does not break I don't wait for the next candle as well. As long as any candle breaks the HOD or LOD first 4H candle I'm in.

If you're entering when the HOD or LOD on the H4 9:00 pm EST candle is broken, what does the statement in bold mean, especially the underlined part?

I guess it...

hahahaha its called pivot point trading except they are only using the last periods average.

(H+L+C)/3= central pivot
AVT INVENIAM VIAM AVT FACIAM
  • #132
  • Mar 29, 2012 2:09pm Mar 29, 2012 2:09pm
Quoting FX4Newbies
Hey, hey .

Keep it steady. Why did you say "money management" went out the window recently?

FX4

i started trading 1 pound per point on a 90 pound account now account stands at 385

  • #133
  • Edited 3:21pm Mar 29, 2012 2:14pm | Edited 3:21pm
Quoting Sohail786
i started trading 1 pound per point on a 90 pound account now account stands at 385

Excellent!!! We should probably start a Hall of Fame for Consistently Profitable Traders. Hopefully the egos won't grow out of proportion and then destroy the success.

I don't question it at all by the way. Have had first-hand proof myself some time back .


P.S. By the way, notice the use of the word "currently" in the poll answers. That's because things can change. Our goal is to stay there.
Trade what you see, not what you think or feel. Let the market come to you.
  • #134
  • Edited 3:22pm Mar 29, 2012 2:17pm | Edited 3:22pm
Quoting the redlion
hahahaha its called pivot point trading except they are only using the last periods average.

(H+L+C)/3= central pivot
Thanks for the terminology. Thought it would be a pivot something or other .

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #135
  • Edited 2:38pm Mar 29, 2012 2:19pm | Edited 2:38pm
Quoting Sohail786
yes i have had three profitable months in a row for the first time in 5 years, it was blood sweat and tears


however money management went out the window recently and i started trading one pound per pip but i am keeping it steady till i grow the account and no further increase
yes i have had three profitable months in a row for the first time in 5 years, it was blood sweat and tears

How does it feel? Do you feel like you've made progress? Do you think your confidence is higher/stronger for crossing that milestone, especially after 5 years?

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #136
  • Mar 29, 2012 2:20pm Mar 29, 2012 2:20pm
Quoting FX4Newbies
Hey, hey .

yes i have had three profitable months in a row for the first time in 5 years, it was blood sweat and tears..I'm sure it was.

Keep it steady. Why did you say "money management" went out the window recently?


but i am keeping it steady till i grow the account and no further increase

What exactly do you mean by the statement in bold?

Did you start with mircros...looks that way.
FX4
sorry if did not make my self clear, im a bit crap at explaining things

what i ment was i wont increase my lot size any further than i already have, until account equity increases further.

yes its a micro account


thanks
sohail
  • #137
  • Edited 2:52pm Mar 29, 2012 2:29pm | Edited 2:52pm
Quoting Sohail786
sorry if did not make my self clear, im a bit crap at explaining things

what i ment was i wont increase my lot size any further than i already have, until account equity increases further.

yes its a micro account


thanks
sohail
Thanks for clarifying. That's the way to do it. Take your time; don't rush; don't be greedy for "the big one". Clear your "emotional cache" every day whether you won or lost on the last trade and start afresh, following your system.

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #138
  • Edited Mar 30, 2012 3:21am Mar 29, 2012 2:43pm | Edited Mar 30, 2012 3:21am
A word of encouragement for traders: If you have had one profitable month, you can have two... Why a month? It embodies a full cycle of living as we know it, and that cycle tends to repeat (with some slight variation along the way). Someone told me once, "Don't worry about making a million. Just learn how to make $1 over and over and over again, and the trader in you that can make the million will surface. If that trader in you surfaces, with an increased account balance, the rest would be history." We're after the wisdom in that statement here, not the math behind the dollars necessarily, or the time it would take. If a trader focuses on trading well and not on the money, their trading usually improves...assuming their method is sound.

But, most traders want to make it big now, but as some have said, "Trading is ant's work."

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #139
  • Mar 30, 2012 3:30am Mar 30, 2012 3:30am
Quoting FX4Newbies
Thanks Ultramoe.

Just one thing for clarity...

3. How many trades a day do you generally place?

Answer:Only one trade. It has to break the 4H LOD OR HOD, and that does not mean the next candle does not break I don't wait for the next candle as well. As long as any candle breaks the HOD or LOD first 4H candle I'm in.

If you're entering when the HOD or LOD on the H4 9:00 pm EST candle is broken, what does the statement in bold mean, especially the underlined part?

I guess it would be...
This means, lets say on the close of the 4H 5pm(EST) the following candle the 9:00pm(EST) candle did no break the LOD/HOD of the 5pm(EST) candle. I will continue with the 4H 1am(EST) and see if it will break the HOD/LOD candle of the 5pm(EST) candle. Everything goes back to that 5pm(EST) candle. Any candle that follows after it it must either break HOD OR LOD.

http://i44.tinypic.com/9s9ooi.jpg

One thing I did forget to mention yesterday is that let's say I take a long EUR/USD on the break of the 4H 5pm(EST) HIGH @ 1.3325 and the LOW of that 4H 5pm(EST) candle is @ 1.33275 which will be my stop-loss.

I take it long and the candle reverses and hits my stop loss @ 1.3327 that means I am down on the day. What I do to Break-Even on the day and not have a losing day. I just Reverse the trade and go short and cover my loss.

90% of the time It's a 20pip winning trade.
5-10% of the time it will be a Break-Even trade on reversals.
1%-4% of the time I will lose on a trade, avg loss is around 25-50pips.
  • #140
  • Mar 30, 2012 4:11am Mar 30, 2012 4:11am
Quoting ultramoe
This means, lets say on the close of the 4H 5pm(EST) the following candle the 9:00pm(EST) candle did no break the LOD/HOD of the 5pm(EST) candle. I will continue with the 4H 1am(EST) and see if it will break the HOD/LOD candle of the 5pm(EST) candle. Everything goes back to that 5pm(EST) candle. Any candle that follows after it it must either break HOD OR LOD.

http://i44.tinypic.com/9s9ooi.jpg

One thing I did forget to mention yesterday is that let's say I take a long EUR/USD on the break of the 4H 5pm(EST) HIGH @ 1.3325 and the LOW...
Wonderful!!!! Seems like you have your method down ! A very smart/common sense approach to trading.

If I may ask, what is the average hold time on your trades to achieve your 20 pips? Do you have any time constraints on your trading, meaning, is your time flexible enough to hold/watch as long as needed? Do you sit there and watch the trade as it progresses or do you just let it rip: set it and forget it? Do you use Take Profit orders?

All important things to consider as they can impact how a trade turns out...profitability.

Thanks for taking the time to share with us.

FX4
Trade what you see, not what you think or feel. Let the market come to you.
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