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  • #2,401
  • Apr 27, 2012 5:06am Apr 27, 2012 5:06am
Or is this more like it? (ignore the free floating boxes to the left)
I know this one is 40points high but if I understand correctly the box should have some flexibility with higher TFs
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  • #2,402
  • Apr 27, 2012 9:49am Apr 27, 2012 9:49am
Work has been a bit crazy all week and has prevented me trading very much (oh, for the day when trading IS work!)

Instead of trading, I've just been thinking about the CZs. The patterns they make. The repeating, obvious things that happen over and over again, and thinking about the trades I have made recently. Then I went back and re-read some of Forexhard's first posts. Honestly, I absolutely laughed my head off. Literally sat in front of the computer and giggled like a schoolgirl!

If you're not giggling yet, I suggest you turn your trading station off and just go away and sit and think about CZs for a couple of days. I'm serious. Think about your trades and think about the CZs. Then go back and draw boxes and make sure they are the boxes that FxH has told you a million times to focus on. I know it's not a sexy thing to do and you don't want to do it because you would rather be 'in the market' and making money. Just do it then go back and look again at FxH's posts with fresh eyes. See how hard you laugh.

Have a good weekend,

Sue
  • #2,403
  • Apr 27, 2012 10:05am Apr 27, 2012 10:05am
Instead, think like 'them'.

Geoff is a banker sitting in front of his terminal, He has an order to sell GBPUSD for $5million. He wants to get more buyers trapped to push his first tranche sell order.

Ask yourself this: "Where is the pain in the market?" "Where are retail noobs loaded up?"

Every man and his dog was probably trying to sell GBPUSD, but a push to 1.62612 (sell move from 29 months ago) is still possible, before it rolls over.

It's friday, it's fubar.
Politics is the womb in which war develops.
  • #2,404
  • Edited 11:17am Apr 27, 2012 10:27am | Edited 11:17am
Here's how I handled the last trade of the week for me on G/U. It stretched on for about 42hrs. I ignored the second CZ because I was already invested in the first one. So I just applied the exact same strategies that I've been talking about, and waited for price to give me a bankable result.

This was not a "clean" trade. This wasn't one of those times, obviously, when price breaks cover and runs for the hills (it did that on the 2nd Long). On the plus side, is that this is one of the worst trades I've seen in 75 days or so, and this was just 1 reversal. As you've seen me say before, I always allow for the possibility of 4. So imagine how "dirty" a really bad trade with 4 full reversals must look like. Makes you think, right? Because when was the last time you ever saw one go that wrong that it even had 4 reversals? See what I mean? I can't recall the last one on my charts; there's been a few all right, but they are so rare it's hardly worth worrying about them since they account for maybe 1 CZ in 100, or maybe even 200 if your settings are as tight as mine.

It may not look it, but both Longs were made at the same level. And stretched between them were some very messy candles (to me).

The final result was a trade that actually earned me more profit than a straight-thru trade would have. When the market plays games with me, I make it pay for the privilege.

Note: Even though this trade never went far enough to the south to make me open a Sell, I still label any trade that stopped out and then re-entered a reversal or a whiplash. I realize that they are technically not the same thing, but I see so little of either one that for me the terms are basically interchangable. No biggie. Call them what you will. The main thing to remember, is that if you keep your parameters as tight as possible, then either one will be an extremely rare occurance on your charts.
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To improve is to change. To perfect, is to change often.
  • #2,405
  • Apr 27, 2012 10:39am Apr 27, 2012 10:39am
Quoting sue23
Work has been a bit crazy all week and has prevented me trading very much (oh, for the day when trading IS work!)

Instead of trading, I've just been thinking about the CZs. The patterns they make. The repeating, obvious things that happen over and over again, and thinking about the trades I have made recently. Then I went back and re-read some of Forexhard's first posts. Honestly, I absolutely laughed my head off. Literally sat in front of the computer and giggled like a schoolgirl!

If you're not giggling yet, I suggest you turn your trading...
Thanks Sue, great post. Sounds like someone has had a private epiphany. Well done you. Now let's see you turn it into gold, shall we?

BTW, if I got you giggling from 5000 miles away, imagine what I can do up close! You single?
To improve is to change. To perfect, is to change often.
  • #2,406
  • Apr 27, 2012 10:46am Apr 27, 2012 10:46am
Quoting forexhard
BTW, if I got you giggling from 5000 miles away, imagine what I can do up close! You single?
Is it wrong that i had a bit of sick in my mouth when i read that?
Politics is the womb in which war develops.
  • #2,407
  • Apr 27, 2012 10:50am Apr 27, 2012 10:50am
Quoting FiatFap
Is it wrong that i had a bit of sick in my mouth when i read that?
Dude, have you seen my avatar? I'm not exactly gay you know. Don't get jealous, just get even, if you can. I'm always up for a good challenge.

Look Sue, now you've got strangers fighting over you! LOL

BTW FF, you did notice that wasn't the only thing Sue or I posted, right?...
To improve is to change. To perfect, is to change often.
  • #2,408
  • Apr 27, 2012 11:29am Apr 27, 2012 11:29am
Quoting forexhard
Thanks Sue, great post. Sounds like someone has had a private epiphany. Well done you. Now let's see you turn it into gold, shall we?

BTW, if I got you giggling from 5000 miles away, imagine what I can do up close! You single?
LOL! Married with children...sorry to disappoint ;-)

And on the slightly more serious point, yes, very much an epiphany. I also had a really useful conversation with my mentor on Tuesday which helped me 'see' a little better. He asked me why I was using such a tight take profit when one of the first things he ever taught me was that most trades should hit the stop loss. "A Take Profit just limits profits". Or words to that effect.

The other thing he said was to try to avoid thinking about winning trades and losing trades when using these breakouts. He suggested to think instead of winning zones and losing zones. I.e. it doesn't matter that the first trade hit the stop loss, it's the net profit or loss from all the trades from a CZ that counts. I see that someone else has just written something to the same effect a few posts back.

Sue
  • #2,409
  • Apr 27, 2012 12:18pm Apr 27, 2012 12:18pm
Jeez been busy testing your boxes FH.

Oh wow, Forex dating, I like it, and I'm in the UK Sue. Hahaha.


You smoothie FH.

Daz.
Keep smiling
  • #2,410
  • Apr 27, 2012 12:26pm Apr 27, 2012 12:26pm
FH
Is this one of those great runs for the week AU
I didn't catch it just looking over charts for great entries
will be re-reading the thread over the weekend
Have a great weekend all!
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  • #2,411
  • Apr 27, 2012 12:39pm Apr 27, 2012 12:39pm
Hi there!

Thanks for posting that chart FH, I wasn't "seeing" GU like that at all lol.

FH can I post some charts with some "price perception/box location" related questions/comments for you and others to coment on, or would you rather have me not clutering the thread to much? If you don't want me too there is no prob, it's just that I could use some more fuel for thought right now.

Sue: yeah, there is something very sublime and precious behind all this simplicity, I didn't quite got to it yet, but going back to those "ancient" charts (lol) after some hours of screen time I can allready see some shift in perspective. But a lot more study is required. I guess trade management will be another battle for me (0 experience regarding that area also), but preserverance and discipline can go a long way.

Have a nice day everyone!

PS: I see you like working out FH, I´ve gotten myself some clubbells about 2 months ago and guess what, I found out a passion for working out too, wich is a suprising thing coming from a life long couch potato!
  • #2,412
  • Apr 27, 2012 12:59pm Apr 27, 2012 12:59pm
Quoting forexhard
Here's how I handled the last trade of the week for me on G/U. It stretched on for about 42hrs. I ignored the second CZ because I was already invested in the first one. So I just applied the exact same strategies that I've been talking about, and waited for price to give me a bankable result.
Funny thing. Ive taken indentical trades.
Regards
A.
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  • #2,413
  • Apr 27, 2012 1:38pm Apr 27, 2012 1:38pm
Quoting dryclean
FH
Is this one of those great runs for the week AU
I didn't catch it just looking over charts for great entries
will be re-reading the thread over the weekend
Have a great weekend all!
Dryclean, that's definitely a nice looking continuation trade off the extended CZ. But if you had been watching A/U on Monday you could have banked your full weeks % all in one trade. Over 100p straight down with zero DD:
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To improve is to change. To perfect, is to change often.
  • #2,414
  • Apr 27, 2012 1:42pm Apr 27, 2012 1:42pm
Quoting Misterdaz
Jeez been busy testing your boxes FH.

Oh wow, Forex dating, I like it, and I'm in the UK Sue. Hahaha.


You smoothie FH.

Daz.
...well, if you're just down the road and you look like David Duchovny...



LOL
  • #2,415
  • Apr 27, 2012 3:19pm Apr 27, 2012 3:19pm
Quoting sue23
...well, if you're just down the road and you look like David Duchovny...



LOL
Hahah, I might be just down the road but the Duchovny bit might be a problem.

Now if only I could get rid of the wife for the weekend.

Have a great weekend all.

Daz
Keep smiling
  • #2,416
  • Apr 27, 2012 6:38pm Apr 27, 2012 6:38pm
Quoting rew2k7
Funny thing. Ive taken indentical trades.
Regards
A.
I drink Johnny Walker Double Black. Just saying...
To improve is to change. To perfect, is to change often.
  • #2,417
  • Apr 27, 2012 8:51pm Apr 27, 2012 8:51pm
I like this in fact having some right now
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  • #2,418
  • Apr 28, 2012 2:05am Apr 28, 2012 2:05am
Quoting dryclean
I like this in fact having some right now
I haven't tried that one DC, I am partial to a drop of Glenmorangie but I don't mind any scotch to be honest.
Keep smiling
  • #2,419
  • Apr 28, 2012 8:03am Apr 28, 2012 8:03am
Hmmm, I'm beginning to detect a theme here: Experienced traders that have an affinity for great hootch. There's gotta be an exploitable edge in there some where....
To improve is to change. To perfect, is to change often.
  • #2,420
  • Apr 28, 2012 8:59am Apr 28, 2012 8:59am
Quoting mer071898
If anyone wants to use it, I have added a simple trade management EA called Stealth V.2 that everyone can use. It's pretty straightforward with the parameters. Hidden stoploss and take profit are self explanatory. Breakeven will move the stop to BE after "X" number of pips. Breakeven Shift is the number of pips over BE that you want the stop moved to. For example, the default Breakeven Shift is 25, and the default BE is 100. So when price moves 100 pips in your favor, the EA will move the stop to BE +25 pips to lock in the profits. TrailStep will...
Does this handle multiple trades on the same pair?
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