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The life of a trading system on Forex Factory

  • #1,441
  • Apr 30, 2012 9:14am Apr 30, 2012 9:14am
Quoting 60minuteman
Turveys AU long's looking shakey... see if he waited for price action to confirm then he'd still be safely on the sidelines... but price action doesn't work does it

Anything can happen in the next few hours/days, not a scalper so no hurry.

BORING day, EURCAD is about the action around, CAD GPD numbers out today.


No bollock bands on my chart either thanks, they look great afterways but useless live unfortunately.

Any more trades 60MM??
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #1,442
  • Apr 30, 2012 9:34am Apr 30, 2012 9:34am
Quoting Turveyd
Anything can happen in the next few hours/days, not a scalper so no hurry.

BORING day, EURCAD is about the action around, CAD GPD numbers out today.


No bollock bands on my chart either thanks, they look great afterways but useless live unfortunately.

Any more trades 60MM??
just another free trade on EU http://clip2net.com/s/1RPQ6
tradewith60
  • #1,443
  • Apr 30, 2012 9:56am Apr 30, 2012 9:56am
Quoting Turveyd
Anything can happen in the next few hours/days, not a scalper so no hurry.

BORING day, EURCAD is about the action around, CAD GPD numbers out today.


No bollock bands on my chart either thanks, they look great afterways but useless live unfortunately.

Any more trades 60MM??
That's because of the conventional way they are taught/used. The bands can be very profitable if one learns how to properly use them.
Mark ... Everything you have been told is a LIE
  • #1,444
  • Apr 30, 2012 10:12am Apr 30, 2012 10:12am
Quoting spzd
That's because of the conventional way they are taught/used. The bands can be very profitable if one learns how to properly use them.
agree, kathy lien trades them very successfully
tradewith60
  • #1,445
  • Apr 30, 2012 10:19am Apr 30, 2012 10:19am
Quoting spzd
That's because of the conventional way they are taught/used. The bands can be very profitable if one learns how to properly use them.
Bollinger Bands are incredibly useful

most professional trading, investing, statistical models are centered around this concept.

Bollinger DID NOT COME UP WITH THIS CONCEPT AT ALL.

Standard deviations from a moving average plotted and calculated for you on the chart. That is all they are.
AVT INVENIAM VIAM AVT FACIAM
  • #1,446
  • Apr 30, 2012 10:25am Apr 30, 2012 10:25am
Quoting the redlion
Bollinger Bands are incredibly useful

most professional trading, investing, statistical models are centered around this concept.

Bollinger DID NOT COME UP WITH THIS CONCEPT AT ALL.

Standard deviations from a moving average plotted and calculated for you on the chart. That is all they are.
simple maths, the issue is they create a buy the bottom mentality which is generally not good.

I have fixed size envelopes, but it's more so I can see the scale of the chart, if the market is getting huge swings but the envelope is huge then it's a easy to see indication the range is actaully only 12pips.


GU's in the same state as AU here, considering a long!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #1,447
  • Apr 30, 2012 1:50pm Apr 30, 2012 1:50pm
Quoting endroute

I trade using a very very simple price pattern along with some common sense and nothing else and do very well and I think some others on this forum have similar simple PA based systems that they do pretty well with as well.
Exactly, and it's productive across all time frames, and most markets and instruments come to that.

People use whatever works for them but some things are pretty much universally accepted as being fundamental to consistently profitable trading, not to mention basic common sense!
  • #1,448
  • Apr 30, 2012 1:54pm Apr 30, 2012 1:54pm
Quoting jag1966

You make it very clear you couldn't spot a profitable trader if your life depended on it, let alone learn from one.
lol
  • #1,449
  • Apr 30, 2012 3:47pm Apr 30, 2012 3:47pm
Quoting Turveyd
simple maths, the issue is they create a buy the bottom mentality which is generally not good.

I have fixed size envelopes, but it's more so I can see the scale of the chart, if the market is getting huge swings but the envelope is huge then it's a easy to see indication the range is actaully only 12pips.


GU's in the same state as AU here, considering a long!!
Haha I get it now, you are clever and just pretending to be stupid. OMG, all the subtle hints, your instead of you're, I get it now, well done Turv, keep it up.

Nobody can trade candlesticks profitably.
  • #1,450
  • Apr 30, 2012 3:58pm Apr 30, 2012 3:58pm
It looks like this is turning into a trading competition between 60minuteman and Turveyd, and somehow by association a Candlestick/PriceAction vs 'whatever Turveyd is doing'....I guess PA/Candlesticks vs Averaging IN?? Kinda strange.

Whatever, right now Turveyd is ahead on points, as I see it. He has called his trades, 60MM has not. 60MM claimed to have picked a top in AU, but he announced his trade AFTER it had already dropped like 20-30 pips. 60MM then posted MULTIPLE times after that bragging about his awesome AUDUSD short, another red flag in my opinion. Real profitable traders don't go on and on and on about their trades that are 20 pips in profit, sorry thats just how it appears to me.

Turveyd started calling for longs in AUDUSD(while it was still drifting lower), the premise being that he believed it was still in an uptrend and he was going to start 'scaling' into a long position, rather than try to pinpoint an exact turning point, and this makes perfect sense to me and is WAY more believable than just announcing you picked a top or bottom like 2 hours after it has already been confirmed.

I am not trying to promote Turveyd's methods of trading and this has nothing to do with PA vs Candlesticks vs Indicators vs AveragingIn, because truth is, a successful trader could be using ALL of these things together, they are not mutually exclusive.

Bottom line Turveyd has made trading calls that are believable and 60MM has not(he still hasn't exited that AUDUSD short either).
  • #1,451
  • Apr 30, 2012 4:01pm Apr 30, 2012 4:01pm
Quoting Aldente
It looks like this is turning into a trading competition between 60minuteman and Turveyd, and somehow by association a Candlestick/PriceAction vs 'whatever Turveyd is doing'....I guess PA/Candlesticks vs Averaging IN?? Kinda strange.

Whatever, right now Turveyd is ahead on points, as I see it. He has called his trades, 60MM has not. 60MM claimed to have picked a top in AU, but he announced his trade AFTER it had already dropped like 20-30 pips. 60MM then posted MULTIPLE times after that bragging about his awesome AUDUSD short, another red...
read between the lines, stupid is as stupid does.
  • #1,452
  • Apr 30, 2012 4:23pm Apr 30, 2012 4:23pm
Quoting Aldente

Bottom line Turveyd has made trading calls that are believable and 60MM has not(he still hasn't exited that AUDUSD short either).
Even if someone is a good analyst it's a bit pointless if they repeatedly lose all the money they make!

Over the long term a poor analyst who knows how to trade will always beat a good analyst who doesn't!

Trading/analysis competitions are a joke anyway, no one would waste their time getting into a contest unless there was some serious money for the winner, and from what I can tell the challenger doesn't have a pot to piss in, lol!
  • #1,453
  • Apr 30, 2012 4:41pm Apr 30, 2012 4:41pm
Quoting pipmutt
Even if someone is a good analyst it's a bit pointless if they repeatedly lose all the money they make!)
True, but I think a lot of that has to do with the fact that most retail traders are trying to turn tiny accounts into BIG ones, in a relatively short period of time.....and its understandable. What really is the point of investing huge amounts of time into trading a small account, if your just shooting for a few percent a year?

But yeah, the truth is most will STILL keep blowing accounts, no matter how good of an analyst they are, because the risks become unmanageable.
  • #1,454
  • Apr 30, 2012 4:45pm Apr 30, 2012 4:45pm
Quoting Aldente

most retail traders are trying to turn tiny accounts into BIG ones, in a relatively short period of time

What really is the point of investing huge amounts of time into trading a small account, if your just shooting for a few percent a year?
They're underfunded then, plain and simple. I doubt it's 'most' though.


Quoting Aldente

But yeah, the truth is most will STILL keep blowing accounts, no matter how good of an analyst they are, because the risks become unmanageable.
Not just the risks, the basic math itself doesn't add up.
  • #1,455
  • Apr 30, 2012 4:46pm Apr 30, 2012 4:46pm
Quoting Aldente
It looks like this is turning into a trading competition between 60minuteman and Turveyd, and somehow by association a Candlestick/PriceAction vs 'whatever Turveyd is doing'....I guess PA/Candlesticks vs Averaging IN?? Kinda strange.

Whatever, right now Turveyd is ahead on points, as I see it. He has called his trades, 60MM has not. 60MM claimed to have picked a top in AU, but he announced his trade AFTER it had already dropped like 20-30 pips. 60MM then posted MULTIPLE times after that bragging about his awesome AUDUSD short, another red flag...

Not in a competion, just doing what I do, I post all mine when I trade at home on my journal live.

M5 chart, is my reason for the trade sitting near my yellow double line ( double as it's a few pip area, nothing is precise ), see how it reversed off this on Friday I can show you unlimited of these pretty much.

M1 chart, is the reason why it's failed to turn up on the faster MA's, those are tradeable quite accuratly, but wasn't around.

Average in on AU didn't quite hit unfortunately, news out 5:30am so big profit or SL hit we'll see.

The slowest MA on the M1 is the fastest MA on the M5 they plot the same, so it's a continuation onto the other chart.

That'll give you a inclining into my method.

SLOW day though.

Long GU to, down slightly thats failing to turn over the MA's as yet.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Reason for trade M5.jpg Size: 389 KB
Click to Enlarge Name: Reason trade is kept down M1.jpg Size: 368 KB
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #1,456
  • Apr 30, 2012 4:54pm Apr 30, 2012 4:54pm
Notice on my GU entry, same MA for support, see it respecting it reasonibly well, nothing is perfect and the lower MA trailing up to ofcourse.

Watch what happens, when/if they turn up and break over all the MA's I use, odds are they will run hard.


Why do the MA's work so well, well I'm taking advantage of buy sell programs which banks and the like use, just going along with that they are doing, simple as

Have the M5 template, M1 is different slightly, incase you want to back test the results yourself.
Attached Image (click to enlarge)
Click to Enlarge Name: GU same support MA.jpg Size: 345 KB
Attached File(s)
File Type: tpl m5 template.tpl   10 KB | 231 downloads
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #1,457
  • Apr 30, 2012 4:58pm Apr 30, 2012 4:58pm
Quoting Aldente
It looks like this is turning into a trading competition between 60minuteman and Turveyd, and somehow by association a Candlestick/PriceAction vs 'whatever Turveyd is doing'....I guess PA/Candlesticks vs Averaging IN?? Kinda strange.

Whatever, right now Turveyd is ahead on points, as I see it. He has called his trades, 60MM has not. 60MM claimed to have picked a top in AU, but he announced his trade AFTER it had already dropped like 20-30 pips. 60MM then posted MULTIPLE times after that bragging about his awesome AUDUSD short, another red flag...
posted my entry and tp... been hit... what has turvey posted? naff all.... like i said, if you want trade calls then you can pay me, if not then learn to trade yourself... good luck
tradewith60
  • #1,458
  • Apr 30, 2012 4:59pm Apr 30, 2012 4:59pm
Quoting Aldente
True, but I think a lot of that has to do with the fact that most retail traders are trying to turn tiny accounts into BIG ones, in a relatively short period of time.....and its understandable. What really is the point of investing huge amounts of time into trading a small account, if your just shooting for a few percent a year?

But yeah, the truth is most will STILL keep blowing accounts, no matter how good of an analyst they are, because the risks become unmanageable.

Yep completely, no point me going for a few % per year, it would be worth nothing to me, go hard or give up comes to mind.

It's not that bad, at first BANG $100 added, $100 gone, but other than moving money from a mini $1 account which i traded for a year, I'm on the same money as 2 maybe even 3 years back, I've not added infact taken some out, so I've got 2 or 3 years outta $100.

Cheap hobby!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #1,459
  • Apr 30, 2012 5:00pm Apr 30, 2012 5:00pm
Quoting 60minuteman
posted my entry and tp... been hit... what has turvey posted? naff all.... like i said, if you want trade calls then you can pay me, if not then learn to trade yourself... good luck

Not my fault it's been a boring monday and the market has barely moved all day.

I had a call out, so I took a position before I went out came back took a GU long to and BORED comes to mind.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #1,460
  • Apr 30, 2012 5:02pm Apr 30, 2012 5:02pm
Quoting 60minuteman
posted my entry and tp... been hit... what has turvey posted? naff all.... like i said, if you want trade calls then you can pay me, if not then learn to trade yourself... good luck

And you wonder why I think your a scammer!!

Cloggie has quit FF, having account deleted reason, fed up of all the damn desperate scammers trying to feed on everyone.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
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