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  • #10,841
  • May 31, 2012 10:59am May 31, 2012 10:59am
Quoting shomari
GBP/NZD is one of the best. It gives out soooooo many pips.
You definately keep the trading license !! LOL.

Hope it works out.

Trade Life !!
Let you know, also let you know about the trades in ForexTester , my impatience is the biggest problem :-)
  • #10,842
  • May 31, 2012 11:10am May 31, 2012 11:10am
Quoting mkb1272
Let you know, also let you know about the trades in ForexTester , my impatience is the biggest problem :-)
Emotions will kill you in this business. Impatience being one of the biggest problems.

While the forex tester is a good start, you should really start logging in your trades in excel and get the stats on the system you are using. This takes out a lot of emotions you will have, once you are in a drawdown. And yes, you will be in a drawdown, like with any system. If you don't know how much drawdown is normal or not, you will abandon the strategy sooner or later before it gives out profits again or you will take impulsive trades that will deplete your account even more. However, if you stick to a winning plan even during drawdown, then that is the state you wanna be in. Also once you got your stats down and can sense with which drawdown you are comfortable, you will also know how much to risk per trade. It's all about being comfortable with the strategy and drawdown.
For example: I personally have a big account and a small one. For the small one I allow a drawdown of 60%, which obviously results in massive percent gains (due to the high percent per account traded). And for the big account I just allow for a 20% drawdown, obviously getting less % gains (due to the low percent per account traded).
  • #10,843
  • May 31, 2012 11:56am May 31, 2012 11:56am
Quoting Custos
Emotions will kill you in this business. Impatience being one of the biggest problems.

While the forex tester is a good start, you should really start logging in your trades in excel and get the stats on the system you are using. This takes out a lot of emotions you will have, once you are in a drawdown. And yes, you will be in a drawdown, like with any system. If you don't know how much drawdown is normal or not, you will abandon the strategy sooner or later before it gives out profits again or you will take impulsive trades that will deplete...
Thank you Custos,

Well, the impatience is more about waiting for the PO to be triggered, I use the same SL as Hector and don't touch it. (only to move to BE of more). The TP target are Fib.expansions, so when the PO is hit, I will let it run.
I only 'test' this in forex tester to get used to the losses, to see that with the proper RR ratio there will be profit on the long term, it's more a psychological thing, I also like to see my trading to become boring ;-).
I trade on a very small account, also to get a feel for trading live, it is not the same as trading on a demo account.
I have full trust in this system, but need to get more experienced, well, thanks to this thread and the help and input from the people over here, I'm on my way.
I will take your advise and make a trading log in excel, thanks
  • #10,844
  • May 31, 2012 12:02pm May 31, 2012 12:02pm
Quoting mkb1272
Thank you Custos,

Well, the impatience is more about waiting for the PO to be triggered, I use the same SL as Hector and don't touch it. (only to move to BE of more). The TP target are Fib.expansions, so when the PO is hit, I will let it run.
I only 'test' this in forex tester to get used to the losses, to see that with the proper RR ratio there will be profit on the long term, it's more a psychological thing, I also like to see my trading to become boring ;-).
I trade on a very small account, also to get a feel for trading live, it is not the...
Let me emphasize this point, cause from experience I can tell you that this will eventually happen.
Right now you "trust" the system, but your basis is the words and posts from other people. Guess what happens once you are in a big drawdown, more than you ever expected. Your trust will totally vanish, you will think the people are liars, or only talk crap (and in most cases you might be right). You can only weed through the crap by verifying the strategy yourself, means hard work and lots of research.
While everybody can do what he wants, I would suggest to you that you try not limiting your pofits until the main trend is really over.
Jesse livermore, richard dennis, george soros, warren buffett and so on never sold until the trend was over, (or in the case of buffett never sold at all). Learn from people who already made it big.
  • #10,845
  • Edited 8:37am Jun 1, 2012 2:36am | Edited 8:37am
Quoting mkb1272
Thank you Custos,

Well, the impatience is more about waiting for the PO to be triggered, I use the same SL as Hector and don't touch it. (only to move to BE of more). The TP target are Fib.expansions, so when the PO is hit, I will let it run.
I only 'test' this in forex tester to get used to the losses, to see that with the proper RR ratio there will be profit on the long term, it's more a psychological thing, I also like to see my trading to become boring ;-).
I trade on a very small account, also to get a feel for trading live, it is not the...
You have the right mindset bro. You're gonna be a winner. Focusing on being comfortable losing , is a recipe for guess what, losing.
You will make 80% of your trades with the Hector "swing trading".
To be perfectly honest. Most of the guys in these forums, don't know what the hell they are doing. They know nothing about financial markets, nothing about correlating markets, they are nothing but armchair quarterbacks, backseat drivers. BULSHI@%$RS !!!
If you know what you're doing, POST SOME TRADES !!! LIVE!!! BEFORE THEY HAPPEN !!! Like I do !!
There is no "system", there is only SWING TRADING, all the other nonsense people talk about, is alot of misleadig, and useless, "information".
If it wasn't, they would post their trades. Dreamers.
Don't listen to their "advice".

Watch the Hector videos, get lots of screen time, and follow the correlating markets (Bonds, CDS, and Commodity prices, etc).
There are alot of sore losers out there, in these forums, who don't know what they're doing , and have lost their money. So they come up with excuses like, "my broker was stop hunting.", or "my "system" didn't work."
BULLSHIT!!
They just suck, they don't know what this game is about, or how to work it, and don't want to put in the time and effort it takes to actually be successful at trading. (actually with the internet it's not much effort except clicking a mouse. LOL!!)

Notice how price bounces off my SMAs , and reach FIB EXpansion price targets? THAT'S REAL TRADING !! PROFESSIONAL TRADING.
Your charts will start to line up, and YES, after a while of winning, it WILL BECOME BORING...THEN YOU'LL KNOW YOU MADE IT....IT'S COMING.
If someone doesn't have the balls to post their trades....THEY'RE FULL OF IT !!!
80% win ratio (minimun), makes a REAL trader. NOT A TALKER.
And YOU are on your way there !!!

Trade Life !!
  • #10,846
  • Edited 4:48am Jun 1, 2012 2:41am | Edited 4:48am
Quoting Custos
Let me emphasize this point, cause from experience I can tell you that this will eventually happen.
Right now you "trust" the system, but your basis is the words and posts from other people. Guess what happens once you are in a big drawdown, more than you ever expected. Your trust will totally vanish, you will think the people are liars, or only talk crap (and in most cases you might be right). You can only weed through the crap by verifying the strategy yourself, means hard work and lots of research.
While everybody can do what he wants, I would...
Trade Life !!
  • #10,847
  • Edited 8:40am Jun 1, 2012 2:58am | Edited 8:40am
Quoting Custos
Emotions will kill you in this business. Impatience being one of the biggest problems.

While the forex tester is a good start, you should really start logging in your trades in excel and get the stats on the system you are using. This takes out a lot of emotions you will have, once you are in a drawdown. And yes, you will be in a drawdown, like with any system. If you don't know how much drawdown is normal or not, you will abandon the strategy sooner or later before it gives out profits again or you will take impulsive trades that will deplete...
FORGET getting "comfortable" with drawdown !! YOU WANT TO WIN !! (Be ucomfortable with drawdown. RISK ONLY 2% per trade. Make that your ACCOUNT POLICY, and you wil remove ALOT of emotion from your trades.) Take out money at FIB Expansions (again, takes the "emotion" out of trading.)
Now you are a machine. just making moey.

You should, and will, eventually, win way more trades than you lose, (you've been watching me for a month. That's REAL TRADING. I lost only CAD/CHF a few weeks ago,and yesterday a few pips. I'll post yesterdays charts later)

This isn't for everyone. It's alot of work, but I've noticed alot of people think it's some "Get Rich Quick" scheme, or something. They don't take a professioal mindset, or don't actually know any REAL institutional traders, so they follow all these guys selling them "systems".
You're gonna be successful bro..learn about COT charts, Bonds and forex, and CDS and forex. That's what REAL traders follow.
You'll be alright. stick with the swing trading and watch the HECTOR training videos, and prepare to WIN!!!
But do keep a trading log. That's true advice. (to analyze what went wrong with RARE losses.)

Trade Life !!
  • #10,848
  • Jun 1, 2012 4:26am Jun 1, 2012 4:26am
Short again. Same pairs. H1 Here we go.

Trade Life !!
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  • #10,849
  • Jun 1, 2012 4:35am Jun 1, 2012 4:35am
Quoting Custos
Let me emphasize this point, cause from experience I can tell you that this will eventually happen.
Right now you "trust" the system, but your basis is the words and posts from other people. Guess what happens once you are in a big drawdown, more than you ever expected. Your trust will totally vanish, you will think the people are liars, or only talk crap (and in most cases you might be right). You can only weed through the crap by verifying the strategy yourself, means hard work and lots of research.
While everybody can do what he wants, I would...
Ooops.....I think I misunderstood. Ijust got back from the club DRUUUUNk as hell. Excuse the language and hard tone everyone. I'm inebriated.
Anyways....back in the pairs again tonight short. Charts above.

I thinkI won't post until I'm sobre.

Trade Life !!
  • #10,850
  • Edited 8:25am Jun 1, 2012 8:11am | Edited 8:25am
Us data just came out. Rode the same old pairs short again ( missed the GBP/JPY AND the GBP/USD. Cashed out last night, and didn't get home from work fast enough to reenter.)
UPDATE: took a loss of 137 pips last night on the last trades. Basically i cashed out for the 200+ pips but then jumped back in ad price turned and I chickened out and cashed out before my stop was hit. If I didn't do that I would have actually been in the 2 GBP trades I spoke of earlier and gained 300+ pips off of those 2 alone. AAAAAAAHH!!

Oh well overall up 1000+pips for the week.

AMAZING, we're in the middle of a HUGE wave of fear.

Cashed out and closing the trading station.


Hope you all made pips this week....

As always.....Trade Life !!
  • #10,851
  • Jun 1, 2012 8:33am Jun 1, 2012 8:33am
Quoting shomari
Fuck getting "comfortable" with drawdown !! YOU WANT TO WIN !! (Be ucomfortable with drawdown. RISK ONLY 2% per trade. Make that your ACCOUNT POLICY, and you wil remove ALOT of emotion from your trades.) Take out money at FIB Expansions (again, takes the "emotion" out of trading.)
Now you are a machine. just making moey.

You should, and will, eventually, win way more trades than you lose, (you've been watching me for a month. That's REAL TRADING. I lost only CAD/CHF a few weeks ago,and yesterday a few pips. I'll post yesterdays charts...
Dude, if you don't know what drawdown is normal, then how can you stick to a method / system or in your case swing trading. When drawdown reaches a certain point, then people get emotional and will abandon their successful strategy. To avoid that, it is important to understand which drawdown is normal and which is not.
And that is where you need an analysis of your strategy.

Don't know where all the hate comes from. It's only common sense to look at a strategy realistically instead of making cloud castles. It's also important to see the other way. How much profit can your strategy give you on average per month / per year. If your expectations are higher than what your strategy can give you, the same thing will happen. You will abandon the strategy or overtrade or trade with bigger size than you should. However, if your expectations are in line with your strategy (presuming it's a winning strategy), then you are on the right track to becoming a good trader.

Again, no idea what makes you post such harsh posts. I try to show people the pitfalls and how they can avoid them, all you do is bash bash bash.

You sir, can lick my ass.
  • #10,852
  • Jun 1, 2012 10:34am Jun 1, 2012 10:34am
WOW !!! anyone see those crazy pricespikes ? Here's an article exlaining it.
UNBELIEVABLE !!
http://www.fxtimes.com/technical-upd...yroll-release/

Enjoy..... Trade Life !!!

  • #10,853
  • Edited 11:05am Jun 1, 2012 10:51am | Edited 11:05am
Quoting Custos
Dude, if you don't know what drawdown is normal, then how can you stick to a method / system or in your case swing trading. When drawdown reaches a certain point, then people get emotional and will abandon their successful strategy. To avoid that, it is important to understand which drawdown is normal and which is not.
And that is where you need an analysis of your strategy.

Don't know where all the hate comes from. It's only common sense to look at a strategy realistically instead of making cloud castles. It's also important to see the other...

Drawdown is calculated easily. If you're risking 2% per trade, and are willing to put 20% of your account on the line, then obviously, you have a maximun of 10 trades.
Ther's no, "emotion" to it, because you're disciplined in your trades. Just doing the same thing over and over again. When you're trading "properly", then unless you make a "mistake", so to speak, don't follow the, "rules", then you're successful by a great margin.
Locating the trend, is the same , every time....
Entries are the same every time......
Taking profits, are the same, every time......
When you're trading "right", there IS NO emotion, it's just entering at the right times, and taking money out, at the right times. Simple. Easy.
And that's why I told him 2% per trade. THAT policy kills the emotion of how much to risk.
THEN take profits at FIB EXpansion levels THAT takes the emotion, or really "guesswork", which most people have to resort to, out of where to take your profits.

I don't know what your problem is but ..... I don't really care. LOL!!

Happy pipping all

Trade Life !!
  • #10,854
  • Jun 1, 2012 11:27am Jun 1, 2012 11:27am
Quoting shomari
Drawdown is calculated easily. If you're risking 2% per trade, and are willing to put 20% of your account on the line, then obviously, you have a maximun of 10 trades.
It should be exactly the other way around. You log in a couple of thousand trades and look at the max historical drawdown. Based on that drawdown you decide how much you are willing to risk per trade. Obviously the less you risk, the lower this historical drawdown will become. Who says that 2% per trade will give you a max of 20% drawdown. Unless you backtested the method, you will not know what drawdown will be normal when risking 2 %. Maybe 1% risk will already give a max drawdown of 20% or maybe 3% risk will give a max drawdown of 20%. You have no way of knowing, unless you test it on historical data. In my opinion a trading strategy should always be based on the max drawdown I want to allow and not on the profits I want to reap. That makes a stable trading mind-set.
Quoting shomari
Ther's no, "emotion" to it, because you're disciplined in your trades.
You won't stay disciplined if you just want a 20% drawdown but are already 30% in drawdown.
Quoting shomari
Just doing the same thing over and over again. When you're trading "properly", then unless you make a "mistake", so to speak, don't follow the, "rules", then you're successful by a great margin.
Locating the trend, is the same , every time....
Entries are the same every time......
Taking profits, are the same, every time......
When you're trading "right", there IS NO emotion, it's just entering at the right times, and taking money out, at the right times. Simple. Easy.
Totally agreed. But that only happens, if you KNOW your method inside out. If you KNOW what the max historical drawdown was, if you KNOW which kind of profits are normal in the long-term.
Quoting shomari
And that's why I told him 2% per trade. THAT policy kills the emotion of how much to risk.
won't kill emotions if he is getting more drawdown than what he planned for.
Quoting shomari
THEN take profits at FIB EXpansion levels THAT takes the emotion, or really "guesswork", which most people have to resort to, out of where to take your profits.
maybe. I don't limit my profits, so don't care about fib expansion levels.

Quoting shomari
I don't know what your problem is but ..... I don't really care. LOL!!
my problem is that you are not socially competent enough to participate in any normal discussion. Maybe your "alpha man" attitude works in the clubs with the girls (or not) and you are the man there. But I think on a forum, which is about exchanging ideas and discussing different perspectives regarding trading, your attitude is completely out of place. Grow up, boy.
  • #10,855
  • Edited 1:24pm Jun 1, 2012 12:19pm | Edited 1:24pm
Quoting Custos
It should be exactly the other way around. You log in a couple of thousand trades and look at the max historical drawdown. Based on that drawdown you decide how much you are willing to risk per trade. Obviously the less you risk, the lower this historical drawdown will become. Who says that 2% per trade will give you a max of 20% drawdown. Unless you backtested the method, you will not know what drawdown will be normal when risking 2 %. Maybe 1% risk will already give a max drawdown of 20% or maybe 3% risk will give a max drawdown of 20%. You have...
How do you know he hasn't backtested the "method", as you call it.
I don't know what planet you're on, but, here on earth, 2% x 10 = 20%. Remind me not to send my children to your university. WOW.
Maybe you've never heard of stops before. Who knows, but I let my CHARTS do the talking.

Trade Life !!
  • #10,856
  • Jun 1, 2012 12:38pm Jun 1, 2012 12:38pm
Quoting Custos
It should be exactly the other way around. You log in a couple of thousand trades and look at the max historical drawdown. Based on that drawdown you decide how much you are willing to risk per trade. Obviously the less you risk, the lower this historical drawdown will become. Who says that 2% per trade will give you a max of 20% drawdown. Unless you backtested the method, you will not know what drawdown will be normal when risking 2 %. Maybe 1% risk will already give a max drawdown of 20% or maybe 3% risk will give a max drawdown of 20%. You have...
You are trying to make this waaaaaaay to difficult. It's not. It's easy. Yes you're a smart analytical guy, everyoe can sense that, BUT THIS IS NOT SOME ANALYTICAL THEORETICAL GAME. This is trading life, in other words, reality, what's happening in your newspaper, and in your countries, and in your parliaments. THAT is what we are trading. LIFE. REALITY. It's not a THEORY and cannot be put in some neat and tidy box. Life is messy, and it affects our currencies, and that is how we make a living. From the instabilities, and poitical mistakes, etc, etc, etc of this world , which sends our monies flying every which way. Come on man.
OK OK everyone get's it, BACKTEST your "system",as you call it. FINE. DONE. ALL SYSTEMS GO. OK?
Now let's alll get on to actual TRADING. Enough of this "mom knows best" crap and now let's trade.

Trade Life !! (Cause you're not trading aything else)
  • #10,857
  • Jun 1, 2012 12:44pm Jun 1, 2012 12:44pm
Well, those are my first chart in FF, so I hope to get some input, these are my setup charts, on the Daily TF:


Attached Image (click to enlarge)
Click to Enlarge Name: gbpaud setup chart.gif Size: 22 KB


Attached Image (click to enlarge)
Click to Enlarge Name: gbpnzd setup.gif Size: 19 KB
  • #10,858
  • Jun 1, 2012 12:46pm Jun 1, 2012 12:46pm
And the trigger charts, comments are very welcome :-)

Attached Image (click to enlarge)
Click to Enlarge Name: gbpnzd trigger.gif Size: 22 KB


Attached Image (click to enlarge)
Click to Enlarge Name: gbpaud trigger.gif Size: 23 KB
  • #10,859
  • Jun 1, 2012 1:03pm Jun 1, 2012 1:03pm
Quoting mkb1272
And the trigger charts, comments are very welcome :-)

Attachment

Attachment
Looking good to me.
The only thing I would say would be to move your retracement trendlines over and search for an even lower entry point.That'll give you more pips.
When those fly, you're looking at banking a nice load of pips. Hell, I might have to look into these trades myself next week, now that I think about it. Thanks for the idea. This is what this thread should be about. Charts and real trades. Thanks man.

Trade Life !!
  • #10,860
  • Jun 1, 2012 1:18pm Jun 1, 2012 1:18pm
Quoting shomari
Looking good to me.
The only thing I would say would be to move your retracement trendlines over and search for an even lower entry point.That'll give you more pips.
When those fly, you're looking at banking a nice load of pips. Hell, I might have to look into these trades myself next week, now that I think about it. Thanks for the idea. This is what this thread should be about. Charts and real trades. Thanks man.

Trade Life !!
Thanks Shomari,

Do you adjust the retracement trendlines in the triggerchart? Hope they will trigger next week, there are a lot of pips to TP1 I hope the retracement of the GBPNZD wil not go below the 50SMA, but well, it it does, I only have to remove the PO.
No hangover Shomari?? ;-)
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