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The life of a trading system on Forex Factory

  • #1,041
  • Apr 26, 2012 5:34am Apr 26, 2012 5:34am
Quoting CindyXXXX

I try my best Pip lol
lol, me too!

......but it gets exasperating to read the same old questions over and over, people really need to think for themselves but they prefer to be spoon fed, oh well c'est la vie!
  • #1,042
  • Apr 26, 2012 5:36am Apr 26, 2012 5:36am
Quoting the redlion

cut losses short, let profit run, the trend is your friend, if the market shows you that you are wrong cut your position if the market confirms your bias maximize your gains. etc....
lol, it's hardly my fault if you fail to understand the significance and application of such simple and basic mantra!


Quoting the redlion

I do not need to be taught HOW to trade
Well no offence but if you can't understand and apply the above then I think maybe you do!

ps/ I actually said 'tell' not 'taught', there's a difference!
  • #1,043
  • Apr 26, 2012 5:52am Apr 26, 2012 5:52am
Quoting pipmutt
lol, me too!

......but it gets exasperating to read the same old questions over and over, people really need to think for themselves but they prefer to be spoon fed, oh well c'est la vie!
yeah.. true that... it's kind of awkward because here is the future richest man in the world telling an experienced trader and traders that they're just not doing it for him. Which is fine... But don't shoot the messenger rings a bell..

Red lion it's hard because everyone trades differently and at the same time some people in between trades like to try and help but no one really wants to give away the "secret sauce". That's kind of why this forum is irritating particularly when you're learning or trying to learn something. I can understand your frustration there.

I think you'd be well suited to Darkstars order flow approach. Have you looked into it? I know he stalks the market like a lunatic places trades very rarely but goes very hard on them. Very high risk very big reward... deadly accurate. Also a lot of analytical thinking is involved.

If I wasn't full time studying I'd likely be trading this way. But anyway, don't knock others when they're offering an opinion or they may not want to help you in the future. One thing I've learnt around here is that whenever theres a trader with more notches on his/ her belt... listen up... But going by your ambitions and requirements I'm not sure there are many around here that could satisfy your high expectations.

Just saying
Time hides Nothing
  • #1,044
  • Apr 26, 2012 6:43am Apr 26, 2012 6:43am
Quoting CindyXXXX
yeah.. true that... it's kind of awkward because here is the future richest man in the world telling an experienced trader and traders that they're just not doing it for him. Which is fine... But don't shoot the messenger rings a bell..

Red lion it's hard because everyone trades differently and at the same time some people in between trades like to try and help but no one really wants to give away the "secret sauce". That's kind of why this forum is irritating particularly when you're learning or trying to learn something. I can understand...
Cindyxxxx as said before I thank you for your in put.

I think you have me wrong.

I really do not need to be shown how to trade nor am i looking for some one to help me and teach me.

as you can discern from my posts, I understand most concepts about the markets and probably know more than most people.

knowledge is not = profitability, and all i was actually trying to do was engage sharing ideas on how to mitigate risk better.

I have my own ideas and models, strategies, methodologies etc, and i respect yours and value them.

I can give a rats ass who wants to or doesnt want to help me, i am really not asking for help.

but the bull shit of making claims and being vague to seem profitable ... i am simply over that, ego boosts etc.

i think this forum really offers nothing of value, everyone wants to act as if they have some "secret" they wont give away, for free.

another specious logic the secret is bullshit, there is no secret.
I actually would like to engage in more intelligent constructive conversation with clear ideas, and concrete methods and strategies, I am sure many can learn from me as i can learn from them.
AVT INVENIAM VIAM AVT FACIAM
  • #1,045
  • Apr 26, 2012 8:43am Apr 26, 2012 8:43am
Quoting CindyXXXX
...try this:

Firstly lower your risk to an amount that you are willing to literally burn in real cash. Pick a set amount of money you are willing to BURN or SPEND every week in attempts of growing your equity curve. Give your self a mind set of "spending money to make money", instead of the mindset of "I'm going to make money and be right because I'm a smart guy and a good trader".

Open your trade and when things are going well, instead of going to breakeven, simply move your SL to a safe place and add to your trade keeping that same risk...
CindyXXXX...Dude

I think I got a general idea of what you wrote above. If my understanding is correct, then we have similar position size philosophy. However, to make this more clear for me, could you give 2 hypothetical trade examples to illustrate your post above. One example to illustrate a losing trade, and one to illustrate a winning trade. Thanks in advance!!!
  • #1,046
  • Edited 12:31pm Apr 26, 2012 9:02am | Edited 12:31pm
Quoting kokopelli
CindyXXXX...Dude

I think I got a general idea of what you wrote above. If my understanding is correct, then we have similar position size philosophy. However, to make this more clear for me, could you give 2 hypothetical trade examples to illustrate your post above. One example to illustrate a losing trade, and one to illustrate a winning trade. Thanks in advance!!!
I posted a couple of live examples in my journal last week and the week before...

Skip all the BS just look for my posts with charts attached I think it starts on page 5...
Time hides Nothing
  • #1,047
  • Apr 26, 2012 1:39pm Apr 26, 2012 1:39pm
Quoting CindyXXXX

yeah.. true that... it's kind of awkward because here is the future richest man in the world telling an experienced trader and traders that they're just not doing it for him. Which is fine... But don't shoot the messenger rings a bell........
  • #1,048
  • Apr 26, 2012 3:16pm Apr 26, 2012 3:16pm
Quoting the redlion

those are things that people say that are obvious, ambiguous and sound so reasonable that the person who says it SEEMS to know what he is talking about even if he has no clue on HOW to actually accomplish this.

something the beagles do a lot. or fti and his cult
dance the dance, let the market tell you, do not predict, actively manage your risk blah blah blah

.
It's a common affliction. Might be better to be a "forum guru" than a "trading guru" ? Popularity versus results?

It's a question so don't whup up on me too badly.
When the Joker is in the deck.. fear not and play it well
  • #1,049
  • Apr 26, 2012 3:31pm Apr 26, 2012 3:31pm
Quoting the redlion
how do you MANAGE your positions once in a trade, that does not diminish your win:loss and does not compromise risk:reward?
Hi Red, noticed your last few posts and sorry to see that you seem frustrated. I hope you have read some of the recent articles on how difficult forex trading has been for everyone the last few months, including the big professional traders. Frustration is wide-spread right now, so you are in pretty good company.

I hate answering questions on FF because people who know nothing about trading tend to jump on my answers with crap like, "that's not how it's suppose to be done", or "everyone knows that doesn't work" , etc. But, here is an answer to your question above. Manage your trade according to your strategy, and do nothing more or less than that. After all, your win/loss and risk/reward are based on that strategy, so doing anything that deviates from it will impact the results. I have three strategies: one for a trading market, one for a trending market, and a very aggressive one for trending. In a trading market, for example, I enter at "low risk" price levels, set tight stops, and have fixed (ridged) tp. I never increase stops once in a trade, and will move stops to protect the entry price once PA has reached a certain point, but short of the tp. If the trade is underway and a FA is imminent, I will probably move my stop to zero and the tp to +55 beyond the last significant S/R. That is a summary of the rules, and it is important for me to follow them no matter what. I do not rate myself according to the results of the trade, only the implementation of the strategy.
  • #1,050
  • Apr 26, 2012 3:41pm Apr 26, 2012 3:41pm
Quoting GEfx
Hi Red, noticed your last few posts and sorry to see that you seem frustrated. I hope you have read some of the recent articles on how difficult forex trading has been for everyone the last few months, including the big professional traders. Frustration is wide-spread right now, so you are in pretty good company.

I hate answering questions on FF because people who know nothing about trading tend to jump on my answers with crap like, "that's not how it's suppose to be done", or "everyone knows that doesn't work" , etc. But, here is an answer...
Pardon my intervention. I'm not telling you "crap.... like" but I seem to recall a post by TRL that pretty much stated he was not looking for trading lessons, per se'.

But who am I. If he likes your lesson, MP2U
When the Joker is in the deck.. fear not and play it well
  • #1,051
  • Apr 26, 2012 4:13pm Apr 26, 2012 4:13pm
Quoting GEfx

Manage your trade according to your strategy, and do nothing more or less than that......fixed (ridged) tp. I never increase stops once in a trade....FA is imminent, I will probably move my stop to zero....it is important for me to follow them no matter what.
So in a dynamic and often volatile market like forex you find no use for flexibility, no adjustment according to (so called) price action, no reduction of exposure if conditions change but the trade is still valid and viable, no maximising profit potential if momentum is with you, no increasing profitable positions, no compounding of profit......just a rigid strategy with very little if any discretion, capping profit and fixing loss? And all because 'win/loss and risk/reward are based on that strategy'?

Oh, ok, if it works for you......
  • #1,052
  • Apr 26, 2012 4:19pm Apr 26, 2012 4:19pm
Quoting pipmutt
So in a dynamic and often volatile market like forex you find no use for flexibility, no adjustment according to (so called) price action, no reduction of exposure if conditions change but the trade is still viable and valid, no maximising profit potential if momentum is with you, no increasing profitable positions, no compounding of profit......just a rigid strategy with very little if any discretion, capping profit and fixing loss? And all because 'win/loss and risk/reward are based on that strategy'?

Oh, ok, if it works for you.........
so what works for you pip mutt?

I stated clear strategies and working on basic rudimentary risk models

Cindyxxxx stated very clear ways to scale in and mitigate initial risk via position sizing

GEfx stated very clear strategy to deal with certain market conditions.

seems like these guys are actually offering some value.

Contribute something here... if not then there is no use in bandwidth space wasting.

I have some hypothesis on
integration of correlated assets, macro econ and TA as well as statistical analysis with probability risk management.

i will have to write it out and paste it here so look for it some time today.
AVT INVENIAM VIAM AVT FACIAM
  • #1,053
  • Apr 26, 2012 4:20pm Apr 26, 2012 4:20pm
Quoting pipmutt
1. no maximising profit potential if momentum is with you, no increasing profitable positions


2. no compounding of profit......
1. does this mean, if your in profit you actually add to winners, therefore putting yourself more at risk and raising ( if long ) your average price of your open trade ??

2. compounding is the effect of making a profit and then upping his lot size, he never said he uses the same lot size for ever.


He's right though, so no need to bash him, find your setups, prove your setups and stick to them, don't get creative that'll cost you.

And all trades lose, so score yourself based on taking the right trades not the outcome of the trades.

Even perfect trades lose unfortunately.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #1,054
  • Apr 26, 2012 4:22pm Apr 26, 2012 4:22pm
Quoting Turveyd
1. does this mean, if your in profit you actually add to winners, therefore putting yourself more at risk and raising ( if long ) your average price of your open trade ??

2. compounding is the effect of making a profit and then upping his lot size, he never said he uses the same lot size for ever.


He's right though, so no need to bash him, find your setups, prove your setups and stick to them, don't get creative that'll cost you.

And all trades lose, so score yourself based on taking the right trades not the outcome of the trades.

Even...
exactly
AVT INVENIAM VIAM AVT FACIAM
  • #1,055
  • Apr 26, 2012 4:26pm Apr 26, 2012 4:26pm
Quoting the redlion

so what works for you pip mutt?
lol, I thought that would have been pretty obvious from my post which you replied to!


Quoting the redlion

I have some hypothesis on
integration of correlated assets, macro econ and TA as well as statistical analysis with probability risk management.

i will have to write it out and paste it here so look for it some time today.
Mmmmmm, can't wait!
  • #1,056
  • Apr 26, 2012 4:29pm Apr 26, 2012 4:29pm
Quoting pipmutt
So in a dynamic and often volatile market like forex you find no use for flexibility,
Well..... ya' see the thing is. I've often noted your superior intelligence but at the same time have noticed your apparent lack of flexibility. In fact, it seems that I've often noted your ridicule of those who had ideas that were contrary to your own.

This is not my idea of flexible. You're gaining popularity but not credibility (IMHO) (sorry my mentor but I had to say that)
When the Joker is in the deck.. fear not and play it well
  • #1,057
  • Edited 4:45pm Apr 26, 2012 4:33pm | Edited 4:45pm
Quoting Turveyd

1. does this mean, if your in profit you actually add to winners, therefore putting yourself more at risk and raising ( if long ) your average price of your open trade ??
lol, think about it. Where is the increased risk?


Quoting Turveyd

2. compounding is the effect of making a profit and then upping his lot size, he never said he uses the same lot size for ever.
Sure you can do that, or you could compound what I call 'aggressively', again think about it!


Quoting Turveyd

don't get creative that'll cost you.
Or you could get creative, trading is an art as much as a science!


Quoting Turveyd

And all trades lose
Geez, I hope not!


Quoting Turveyd

Even perfect trades lose unfortunately.
Nooooo, really! Holy crap! Can't have been that perfect then can they!
  • #1,058
  • Apr 26, 2012 4:39pm Apr 26, 2012 4:39pm
Quoting Slim Buffett

I've often noted your ridicule of those who had ideas that were contrary to your own.
Well some ideas aren't just contrarian, they can't go without comment! I'm all for new and innovative ideas.....if they've got any merit and are based on something which makes logical sense.


Quoting Slim Buffett

sorry my mentor but I had to say that
That's ok grasshopper, but next time try shooting the message, eh.
  • #1,059
  • Apr 26, 2012 4:40pm Apr 26, 2012 4:40pm
Quoting pipmutt
lol, think about it. Where is the increased risk?




Sure you can do that, or you could compound what I call 'aggressively', again think about it!




Or you could get creative, trading is an art as much as a science!




Nooooo, really! Holy crap!

Errrmmmm, you have a higher average price and like the same SL as your first trade, so more lots, higher average price and similar SL and you don't see the increased risk ?? Really ??

And you bash me for averaging down, where my SL remains the same and the risk/cost of additional positions is less than the first position for more upside potential, not less upside potential your way.

You can't compound without profits, okay I aggressively compound due to small account and min lot sizes mean I'm trading at @10% risk, but thats not for everyone.

Stop following and starting thinking Pipps, you really have been suckered into the correct ways to trade to guarantee they take your money.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #1,060
  • Apr 26, 2012 4:44pm Apr 26, 2012 4:44pm
Quoting pipmutt
Well some ideas aren't just contrarian, they can't go without comment! I'm all for new and innovative ideas.....if they've got any merit and are based on something which makes logical sense.




That's ok grasshopper, but next time try shooting the message, eh.

PipMutt, are your profitable ?? have you ever been ?? are you near ??

Think about the above carefully, before you bash anyone elses trading methods.

I don't expect you to answer and won't trust your answer anyway so don't bother.

just accept some people are much further down the line than you are, maybe you'll learn something.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
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