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  • #661
  • Apr 7, 2012 9:27pm Apr 7, 2012 9:27pm
Quoting roro53
wise words, Chicky..........i am wondering if in your opinion the interventions of central banks can be reasonably speculated or predicted? enjoyed the read. thanks
No need for such speculation. Interventions are announced and publicized months / hundred of pips before they are implemented, unless these interventions intend to stablize price in sudden panic conditions. In later case, even central banks don't know they would have to intervene.

They say, why waste poison on someone when you can kill that person with a dose of sugar? Similarly, just publicizing possible intervention stablizes a currency and intervention is implemented as a last resort. Like in the case of Euro, last year Sarkozi sweared punishing speculators who were trying to bring euro down. This year China has announced its intention of supporting Euro.
The Thief of Wall Street
  • #662
  • Apr 7, 2012 9:41pm Apr 7, 2012 9:41pm
Quoting Chicky
They say, why waste poison on someone when you can kill that person with a dose of sugar?

Hmmmmm. Aren't bullets cheaper than poison or sugar?????

BTW good post

Quoting Chicky
Very well said.

Maybe I am one of the posters here who have seen many more years of life than others. Rode many ups and downs of life during all those years. I believe this gives me a right to add something to what you said.

1. Never look back, if you look back, look in that direction only to see what you have gained and learned and how it can help you in your future. If you are fighting and making advances, it will be foolish to turn back and start re-building a bridge that was destroyed. Forget about the past and look forward at your...
Markets are Mirrors,,Mastery of craft is mastery of self
  • #663
  • Edited 2:25pm Apr 8, 2012 8:28am | Edited 2:25pm
Quote
No need for such speculation. Interventions are announced and publicized months / hundred of pips before they are implemented, unless these interventions intend to stabalize price in sudden panic conditions. In later case, even central banks don't know they would have to intervene.
Hi Chicky........i guess i posed the original question in the context of Bernanke's Mar 26 speech (sorry, Mar 13 was J Daimon frontrunning the FED on bank stress tests so the S&P at 1375 is back to the FOMC of the 13th) which inferred more QE and rocketed the market then to be followed by a reversal off of the recent FOMC interpreted by a Bloomberg headline as a NO.

the point being it looks as if the central banks are somewhere between a rock and a hard place with Spain and Italy coming onto the debt scene in what appears to be quick order, LTRO or not. that coupled with the recent NFPs which according to Bloomberg this morning have vindicated the Chm's Mar 13 concerns expressed over weakening employment numbers all of which appears to construct a solid argument for more easing/printing.

the difficulty with bringing more earlier is it undermines the credibility of the planners as in "all of the king's men and all of the king's horses could not put humpty together again" kind of conundrum.

having already printed trillions i have to wonder if the central banks are willing to risk a significant sell off by not responding either verbally or by printing another round so soon or both.

no more and i think the Euro and US equity indexes are probably great sells

Bernanke, Yellen and Dudley are all up to speak this week so that may create an opportunity to get short at higher prices.

what do you think?
  • #664
  • Apr 8, 2012 10:48am Apr 8, 2012 10:48am
Quoting Chicky
Very well said.

Maybe I am one of the posters here who have seen many more years of life than others. Rode many ups and downs of life during all those years. I believe this gives me a right to add something to what you said.

1. Never look back, if you look back, look in that direction only to see what you have gained and learned and how it can help you in your future. If you are fighting and making advances, it will be foolish to turn back and start re-building a bridge that was destroyed. Forget about the past and look forward at your aim....

Sir Chicky

Definetely good post
If there was easy money lying around,no one would be forcing it into your
  • #665
  • Apr 18, 2012 1:26am Apr 18, 2012 1:26am
Quoting Chicky
Trade 77 hit sl. About 1.35% loss.

Trade 78 entered - One full position.
Long for about 130 pips but this trade is based on price not number of pips (tp 1.3223 as it may try to settle near 1.3250).

Entered at odd time over the weekend with 10 pip spread.
This trade is still alive. Missed both tp and sl by few pips.
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The Thief of Wall Street
  • #666
  • Apr 20, 2012 10:58pm Apr 20, 2012 10:58pm
Quoting Chicky
This trade is still alive. Missed both tp and sl by few pips.
Trade 78 hit tp. 1%

We can enter another long here with tp near 1.3450/65 area (Yellow Arrow), but we wont. That will be over 200 pip trade yet producing only our standard 1%. Anything can happen from here to until it gets to 1.3450/65. A 200 pip journey is a long journey. We can achieve the same result (i.e. our standard 1% gain) with a 100/120 pip trade by entering our long for the same target when it breaks 1.3300. Things can still go wrong in those 100/120 pips but not as many as in a trade of over 200 pips. Further, waiting for the pa to cross 1.3300 may also give us an opportunity to go short if pa reverses in this journey.
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The Thief of Wall Street
  • #667
  • Edited 11:35pm Apr 21, 2012 11:12am | Edited 11:35pm
Information

This thread is not a trading journal but sumarizes lessons learned from applying several trading methods, also gives details of one of the best money management methods developed. All trades you see here are posted with the objective of showing how this method works.

Links to some key posts on this thread

A. Four Lessons Learned
1. http://www.forexfactory.com/showthre...78#post4601578
2. http://www.forexfactory.com/showthre...84#post4618384
3. http://www.forexfactory.com/showthre...34#post4634234
4. http://www.forexfactory.com/showthre...85#post4651785

B. The research Journey
http://www.forexfactory.com/showthre...21#post4662921
http://www.forexfactory.com/showthre...66#post4665566
http://www.forexfactory.com/showthre...94#post4665594
http://www.forexfactory.com/showthre...12#post4665612
http://www.forexfactory.com/showthre...46#post4666046
http://www.forexfactory.com/showthre...13#post4666113
http://www.forexfactory.com/showthre...48#post4666148
http://www.forexfactory.com/showthre...05#post4666205
http://www.forexfactory.com/showthre...23#post4666523
http://www.forexfactory.com/showthre...65#post4666565

C. Demonstration how it works
http://www.forexfactory.com/showthre...05#post4984505
The Thief of Wall Street
  • #668
  • Apr 21, 2012 1:37pm Apr 21, 2012 1:37pm
78 in whats the score ? Still looking 50/50 to me!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #669
  • Apr 21, 2012 5:21pm Apr 21, 2012 5:21pm
Quoting Turveyd
78 in whats the score ? Still looking 50/50 to me!
Less than 50:50. More losers than winners. Probably 42 losers and 36 winners. I am not sure, have to count.
The Thief of Wall Street
  • #670
  • Apr 21, 2012 5:38pm Apr 21, 2012 5:38pm
Quoting Chicky
Less than 50:50. More losers than winners. Probably 42 losers and 36 winners. I am not sure, have to count.
3 weeks of a year since you started this thread and getting more negative, just to give you a reality check.

Did you continue averaging down ?? increase or decrease your profitability?
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #671
  • Apr 21, 2012 10:37pm Apr 21, 2012 10:37pm
am more interested with the balance part
still looks healthy for me..not misleading at all
am highly recommended each members which like to learn to trade to coming this thread

http://www.forexfactory.com/attachme...2&d=1334980564

Btw,Sir chicky..did you use this method and RR on your live account also ? or different method ?


Many thanks
If there was easy money lying around,no one would be forcing it into your
  • #672
  • Apr 21, 2012 11:10pm Apr 21, 2012 11:10pm
Quoting Turveyd
3 weeks of a year since you started this thread and getting more negative, just to give you a reality check.

Did you continue averaging down ?? increase or decrease your profitability?
No. I have no intention of changing anything in this method. It has already went through all experiments over many years. This thread demonstrates application of my money mangement method. As repeatedly mentioned earlier, I have not yet discussed the trading method. In fact there is no need to give any trading method, it can work on many.

Once this account achieves 20% gain, I will explain and demonstrate its application simultaneously on several trading methods. If this account gets to $80, will be closed.

This is a soap opera.
The Thief of Wall Street
  • #673
  • Edited 11:39pm Apr 21, 2012 11:25pm | Edited 11:39pm
Quoting FXMindset
am more interested with the balance part
still looks healthy for me..not misleading at all
am highly recommended each members which like to learn to trade to coming this thread



Btw,Sir chicky..did you use this method and RR on your live account also ? or different method ?


Many thanks
FXMindset, thanks for your good comment. Yes, this is one of the very few threads on this forum, that will keep on showing the progress as it is without any smokes and mirrors.

I use the same money management method on my four live accounts but the fifth one follows Jesse Livermore's method which is high-risk-high-reward.

I use two trading methods. Will share one here after account balance get to $120 (if it gets there). Why not now? Because if I share my method here no body will believe in that method without seeing my past progress. There is so much bullshit in these threads that people get confused who to believe and who not.

I will never share my other trading method, because whoever gave me that method got a promise from me that it will never get public. But, the one that I will share is equally good.

1% r:r is moderate risk, I tried many different percentages, but 1% has many advantages. Even 1.5% didn't work for me.
The Thief of Wall Street
  • #674
  • Apr 21, 2012 11:48pm Apr 21, 2012 11:48pm
Quoting roro53
Hi Chicky........i guess i posed the original question in the context of Bernanke's Mar 26 speech (sorry, Mar 13 was J Daimon frontrunning the FED on bank stress tests so the S&P at 1375 is back to the FOMC of the 13th) which inferred more QE and rocketed the market then to be followed by a reversal off of the recent FOMC interpreted by a Bloomberg headline as a NO.

the point being it looks as if the central banks are somewhere between a rock and a hard place with Spain and Italy coming onto the debt scene in what appears to be quick order, LTRO...
Sorry Roro, I earlier missed your this post, just noticed.

I have no idea, thats is too technical for me. The only thing I know is that if euro fails it will be a major economic disaster for this world and therefore this will not happen.
The Thief of Wall Street
  • #675
  • Apr 22, 2012 1:41am Apr 22, 2012 1:41am
Quoting Chicky
FXMindset, thanks for your good comment. Yes, this is one of the very few threads on this forum, that will keep on showing the progress as it is without any smokes and mirrors.

I use the same money management method on my four live accounts but the fifth one follows Jesse Livermore's method which is high-risk-high-reward.

I use two trading methods. Will share one here after account balance get to $120 (if it gets there). Why not now? Because if I share my method here no body will believe in that method without seeing my past progress. There...
Hello sir chicky

truly amaze me the result so far,btw I didnt know jesse livermore method..is it keep adding the winning position ? and regarding 1% truly is a mystery thing alive,I tot 1,5% or 2% would be the same also ? Please correct me In this matchematic
If there was easy money lying around,no one would be forcing it into your
  • #676
  • Apr 22, 2012 1:51am Apr 22, 2012 1:51am
Quoting FXMindset
Hello sir chicky

truly amaze me the result so far,btw I didnt know jesse livermore method..is it keep adding the winning position ? and regarding 1% truly is a mystery thing alive,I tot 1,5% or 2% would be the same also ? Please correct me In this matchematic
No, Jesse didn't kept on adding to his winning positions. He used to enter a testing small trade on a possible trend reversal. If pa confirmed trend reversal, he used to open all positions and wait until trend exhausted. But if testing trade did not confirm a trend reversal he would quit. He would also quit if pa fell back after his opening all positions. This way his losses were small and profits huge.

I had 52 consecutive losses a few years ago. With 1.5% risk per trade, I would have lost all my trading capacity but 1% risk per trade gave me a total drawdown of about 45%.

If one is a long-term trader (1,000 pips or more) can risk 10, 20 or 30% per trade. That is a totally different game.
The Thief of Wall Street
  • #677
  • Apr 22, 2012 1:59am Apr 22, 2012 1:59am
Quoting Chicky
No, Jesse didn't kept on adding to his winning positions. He used to enter a testing small trade on a possible trend reversal. If pa confirmed trend reversal, he used to open all positions and wait until trend exhausted. But if testing trade did not confirm a trend reversal he would quit.

I had 52 consecutive losses a few years ago. With 1.5% risk per trade, I would have lost all my trading capacity but 1% risk per trade gave me a total drawdown of about 45%.

If one is a long-term trader (1,000 pips or more) can risk 10, 20 or 30% per trade....
Thnks for the explantion sir,btw if I my know tht sir chicky only focused one pair on live account ? and its eurusd ? or other pairs ?
If there was easy money lying around,no one would be forcing it into your
  • #678
  • Apr 22, 2012 2:01am Apr 22, 2012 2:01am
Quoting FXMindset
Thnks for the explantion sir,btw if I my know tht sir chicky only focused one pair on live account ? and its eurusd ? or other pairs ?
No. I also trade certain other pairs but only in one direction, I am either long or short on all pairs.
The Thief of Wall Street
  • #679
  • Apr 22, 2012 3:24pm Apr 22, 2012 3:24pm
no worries, Chicky........i like kicking that can and think you and i are more or less on the same page just different way to express it....Yellen pulled a verbal rabbit out of the hat that day and the market shot up. agree with your take re the Euro.........i noticed Cloggie had some numbers at 3166 and 326o needed for 1.34 with a number for the DAX up over 7300...if DAX happens the US indexes are all higher.......i am real careful with shorts when the printers are in control..take care. good luck

Quoting Chicky
Sorry Roro, I earlier missed your this post, just noticed.

I have no idea, thats is too technical for me. The only thing I know is that if euro fails it will be a major economic disaster for this world and therefore this will not happen.
  • #680
  • Apr 23, 2012 5:41am Apr 23, 2012 5:41am
Trade #79

Short for 80 pips
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The Thief of Wall Street
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