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Amazing Black Magic Trading Method

  • #41
  • Jun 1, 2012 3:16am Jun 1, 2012 3:16am
Quoting almo
What's an extracted post?
At the bottom of every page, there is a link to the USER GUIDE

You should read it sometime to prevent clogging a perfectly good thread with rubbish posts like this........

Too harsh? well, think of this, if you cannot figure that out, how are you every going to learn to trade by yourself?

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It takes a lot for me to IGNORE you, but you can try.
  • #42
  • Jun 1, 2012 9:47am Jun 1, 2012 9:47am
Will post this information regularly for quick reference to the past in future.
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The Thief of Wall Street
  • #43
  • Edited 10:43pm Jun 1, 2012 10:24pm | Edited 10:43pm
Quoting Chicky
OK.

This is our demo account. This is first time I will be using Jesse's method on Daily timeframe. If satisfied with my performance, will live trade here with a $100 account. In a rare situation, if this account falls below $10, will be replenished.
Market Comment

This is the comparision between where market was before NFP and after NFP. The major news to me is the US unemployment rate going up from 8.1 to 8.2. Some factors influence the market more than others. Interest rates and employment rates are two such factors.

We are still far away from a lower low formation but this level seems to be eligible for a lower low. No change in Underlying Market Conditions yet.

The 3 cent profit you see in this demo account is interest payment.

Snapshot: Friday June 1 2012 1:30 am

and

Snapshot: Friday June 1 2012 Market Close

The best way to study this chart is to note the position of white horizontal line (price level) in its entirety. It has moved little up from where it was before but has not yet touched the preivous low of either Jan 2012 or Aug 2011.

http://www.forexfactory.com/attachme...1&d=1338528903
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The Thief of Wall Street
  • #44
  • Jun 1, 2012 11:14pm Jun 1, 2012 11:14pm
Jesse Livermore was a legendary trader and I cannot even think of putting a however after this statement,............... therefore starting from a new sentence.

Jesse went bankrupt many times in his career. I have tried to design a method much similar to Jesse's ................but only safer. At the same time, compromising very little on his huge retuns, r/r and success ratio, plus, tailored to suit currency market.

Cannot claim how successful that method would be because it is first time I will be applying this method. However, I have done my research, calculation and have checked the logic. All these seem to support my method.

Will be posting trades based on this method, comments and analysis.
The Thief of Wall Street
  • #45
  • Jun 2, 2012 4:01am Jun 2, 2012 4:01am
Quoting Chicky
Jesse Livermore was a legendary trader and I cannot even think of putting a however after this statement,............... therefore starting from a new sentence.

Jesse went bankrupt many times in his career. I have tried to design a method much similar to Jesse's ................but only safer. At the same time, compromising very little on his huge retuns, r/r and success ratio, plus, tailored to suit currency market.

Cannot claim how successful that method would be because it is first time I will be applying this method. However, I have done...
Finally somebody who first researches and then trades the method.
  • #46
  • Jun 2, 2012 5:34am Jun 2, 2012 5:34am
Could you link up your trade explorer with your journal please ? Thanks. :-)
  • #47
  • Jun 2, 2012 11:27am Jun 2, 2012 11:27am
Quoting simran99
Could you link up your trade explorer with your journal please ? Thanks. :-)
Tried to create a trade explorer but it shows account history dating back to when I created it. Tried to limit the data from today onward but it still shows historical figures. That will create a confusion.

Had to open a trade on this account as last trade was more than 20 days old. No use. Deleted the trade explorer.
The Thief of Wall Street
  • #48
  • Jun 2, 2012 2:12pm Jun 2, 2012 2:12pm
Quoting Chicky
Tried to create a trade explorer but it shows account history dating back to when I created it. Tried to limit the data from today onward but it still shows historical figures. That will create a confusion.

Had to open a trade on this account as last trade was more than 20 days old. No use. Deleted the trade explorer.
Done.

See trade explorer above. Had to open and close a trade to make it function. LOL, this trade will significantly distort the data/ratios of this account.

Here is the snap shot after this trade.
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The Thief of Wall Street
  • #49
  • Jun 2, 2012 2:22pm Jun 2, 2012 2:22pm
Quoting Chicky
Done.

See trade explorer above. Had to open and close a trade to make it function. LOL, this trade will significantly distort the data/ratios of this account.

Here is the snap shot after this trade.
Awesome, thanks !
  • #50
  • Jun 4, 2012 8:07am Jun 4, 2012 8:07am
Hi Chicky,
thank you for focussing on Jesse Livermore. I read the "Reminiscences" after your recommendation and planned to read it again (and again) during the coming vacation. Good thread (and maybe a good replacement for the 'Lessons Learned'-Thread)!

Best,
LD
Fail better.
  • #51
  • Jun 4, 2012 3:04pm Jun 4, 2012 3:04pm
Hello Chicky, been telling some friends about you over the last few weeks, I catch myself hanging on to your every word. I just started reading and
re-reading this thread today and love it. Keep doing what your doing. AND thank you for being so insightful.

Thanks for the laughs too. God knows I have needed them these days.


(Think of a person who has tp of 600 pips and a stoploss of 20 pips and is right 9 out of 10 times. He was that mother F.....) Hahaha
  • #52
  • Jun 5, 2012 11:12pm Jun 5, 2012 11:12pm
Think I earned $1 in interest.







See this is what I was talking about......... Longer term trading is more profitable.
The Thief of Wall Street
  • #53
  • Jun 5, 2012 11:27pm Jun 5, 2012 11:27pm
I am really curious as to what will take you in a trade, how long will you keep it and what will take you out.

In stocks there is a bull market where you can buy almost anything and a bear market where you can sell almost anything. Almost all the stocks move in sync. And these markets last for months if not for years.

In forex every currency (not pair) moves as it pleases and trends last usually for weeks. For example the last EURGBP trend lasted 36 days. From 4 March 2012 to 15 May 2012. From that point it will either resume sometime later or it will turn around to March levels. So I don't understand how forex can be traded with a perspective longer than that.
  • #54
  • Jun 6, 2012 12:02am Jun 6, 2012 12:02am
Quoting KMidas
I am really curious as to what will take you in a trade, how long will you keep it and what will take you out.

In stocks there is a bull market where you can buy almost anything and a bear market where you can sell almost anything. Almost all the stocks move in sync. And these markets last for months if not for years.

In forex every currency (not pair) moves as it pleases and trends last usually for weeks. For example the last EURGBP trend lasted 36 days. From 4 March 2012 to 15 May 2012. From that point it will either resume sometime later...
You are right. Forex market tends to maintain a balance. This balance gets disturbed at times but not for too long.

I do not think short-term and long-term in terms of time, but in terms of number of pips. Any move betwen 300 to 500 pips is a medium term for me. Consider moves more than 500 pips as long term.

I am neither a short term nor a long term trader regardless of time or pips.

All I want to achieve is keep number of losing trades at minimum while eyeing at a very good r/r.

I don't want 70% or 80% winners for r/r 1:5 or more. I want 7 or 8 winners in every 10 trades with r/r at least 1:5. There is a big difference between these two. A 80% winning ratio means 20 losers in 100 trades. If these 20 by any chance happen to be the first 20, my account would be gone unless I keep risk per trade limited to 1% to 2%.

Price never goes straight from point A to point B but it does go in the direction it should. A short term trader risks on these small moves. Even if one is right about the direction can still face a streak of losing trades because of the normal price fluctuations. If not, at least it would disturb the winning ratio of a trader, unless that fellow is really lucky.

I don't want a lot of money or small sums of monies every day. I just want sure money no matter how small it may be. Yes, ............there is sure money in every business at least 70% to 80% of the time.

I don't see a logic in entering into a trade at a time when all fundamentals indicate towards one direction but market is hesitant in going on that path. I am not saying it is not going down, but I don't like the pace of it. If Euro is in such a trouble, it should have been way below 1.2500. Once I get the answer to my this question will trade but not before that.
The Thief of Wall Street
  • #55
  • Jun 6, 2012 1:20am Jun 6, 2012 1:20am
  • #56
  • Jun 6, 2012 1:22am Jun 6, 2012 1:22am
Quoting Chicky
Think I earned $1 in interest.







See this is what I was talking about......... Longer term trading is more profitable.
are u joking (as usual) or are u serious?


  • #57
  • Jun 6, 2012 5:46am Jun 6, 2012 5:46am
Regarding 'long term'-trading: did you ever had a look at this thread?

http://www.forexfactory.com/showthread.php?t=245149

Very interesting and should open some eyes towards trends in currencies as well!
Fail better.
  • #58
  • Jun 6, 2012 5:49am Jun 6, 2012 5:49am
One interesting thing on MM trading is

When I tried looking for max my profits,my account always growing less and less

But,

When I tried to minimize my risk,my account always growing more and more
If there was easy money lying around,no one would be forcing it into your
  • #59
  • Jun 6, 2012 8:25am Jun 6, 2012 8:25am
Quoting LarryDarrell
Regarding 'long term'-trading: did you ever had a look at this thread?

http://www.forexfactory.com/showthread.php?t=245149

Very interesting and should open some eyes towards trends in currencies as well!
Open eyes........ in good way or bad way?

Don't know what ultimately happened and where is this thread at the moment, but I must say Graeme's this thread gives a very good strategy for longer term traders. He used to average out his winning positons/legs which is in fact a smart way of taking money off the table. I used to drop into this thread only to appreciate and give my views on any technical issue under discussion. Very decent posters there.
The Thief of Wall Street
  • #60
  • Jun 6, 2012 8:34am Jun 6, 2012 8:34am
Very long time ago, I lived in Greece for sometime and therefore know something about this country and people.

One thing that I find very very strange is that how come that country of only 10 million people (with a significant percentage remitting from overseas) accumulated a deficit of over 160 Billion dollars.

Will appreciate if anyone can provide more information on that.
The Thief of Wall Street
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