thankyou for that i'll take a look!
- #14,311
- Jul 6, 2012 7:38pm Jul 6, 2012 7:38pm
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
Looking further out, just as a matter of interest, we can see that we are at a level of previous s/r......and that should not be taken lightly. Also, is that a bear flag I see forming?!?!........ just something to keep in the back of your mind...fwiw
There is still a little support below here and then a major support at the 1.19 level and that seems to be a target of the PA. However, that's a pretty big and powerful weekly bear candle we have just completed, with almost no wick attached......and candles don't get much more powerful than that! Even so, I wouldn't be surprised to see some sort of pull back here.......
Time will tell
Doing what you like is Freedom. Liking what you do is Happiness.
- #14,315
- Edited 10:27pm Jul 7, 2012 12:03pm | Edited 10:27pm
- Joined Oct 2007 | Status: Trader | 2,972 Posts
For all you analysis Geeks....I am developing a Goal plan and began playing with some numbers and ratios and have something interesting I wanted to pass on to you.
I am calling it the Symphonie 2 year 5% Weekly plan (104 weeks).
One trades Symphonie...using ARS and since at risk is 5% per trade according to Symphonie Money Managment Rules that is the weekly goal based on a ratio of ones account balance.
Therefore, if you have 1000 in an account the weekly goal is 50.00 or 5% increase.
To me that sound reasonable...apply it to every week the same % ARS ratios for lotsize and risk at 5% with a 5% weekly growth goal of your account balance..and look what happens at the end of 104 weeks. (i.e. 2 years)
Taking 1000.00$ beginning balance at the end of the 104 weeks your account balance will be 150,000.00$.
I think this is very doable but I would like everyone to look at my spreadsheet and tell me if you think that possible or is this just fantasy and unrealistic goal???...
Evaluator.:nerd:
I am calling it the Symphonie 2 year 5% Weekly plan (104 weeks).
One trades Symphonie...using ARS and since at risk is 5% per trade according to Symphonie Money Managment Rules that is the weekly goal based on a ratio of ones account balance.
Therefore, if you have 1000 in an account the weekly goal is 50.00 or 5% increase.
To me that sound reasonable...apply it to every week the same % ARS ratios for lotsize and risk at 5% with a 5% weekly growth goal of your account balance..and look what happens at the end of 104 weeks. (i.e. 2 years)
Taking 1000.00$ beginning balance at the end of the 104 weeks your account balance will be 150,000.00$.
I think this is very doable but I would like everyone to look at my spreadsheet and tell me if you think that possible or is this just fantasy and unrealistic goal???...
Evaluator.:nerd:
I think this is very doable but I would like everyone to look at my spreadsheet and tell me if you think that possible or is this just fantasy and unrealistic goal???...
Evaluator.:nerd:
- #14,317
- Jul 7, 2012 1:57pm Jul 7, 2012 1:57pm
You control how you trade; the market controls how and when you'll get paid
- #14,319
- Jul 7, 2012 7:16pm Jul 7, 2012 7:16pm
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
I try to stay out of position when its news time..but thats just me...
You have to have a pretty big SL otherwise you will be whipsawed..And if the SL is to big and the news moves against you, then its...bad..
So i prefer to stay out..
Kind regards
Doing what you like is Freedom. Liking what you do is Happiness.
- #14,320
- Edited 10:29pm Jul 7, 2012 7:38pm | Edited 10:29pm
- Joined Oct 2007 | Status: Trader | 2,972 Posts
I agree, I think that it is very doable. The only problem is bad weeks might throw your schedule off a bit. Also, would you only aim for 5% and stop trading for the week once you reach your goal, or let's say you reach the 5% on Tuesday, would you continue trading to try to reach your ultimate goal faster and give yourself a little bit of leeway when it comes to having a bad week?
Whether you do more than the 5% is up to you but it is important to keep to the plan and only look to keep on track of the weekly goals. Pushing ahead of the targets is great because the good weeks will offset the bad in the long run but on average it is important to make sure one sticks to a path of consistant slow growth.
The whole point of this spreadsheet excersice is to demonstrate that if one sets a clear goal of making 10 pips profit each day....(That's right ONLY 10 pips per day!!!!)......by sticking to your goals and being a consistant trader using the Symphonie ARS method one can provide a steady stream of return....geometrically increasing your account balance.
Of course one will have good days and bad days but if you set a reasonable goal of just 10 pips a day in positive growth the ratioed returns of the Symphonie ARS method can provide one with a ''slow'' growth method to profit security.
Remember I am basing this on 5% risk per trade and only looking to make a 5% account balance growth for the entire week. I set this up to be a simple small growth process to make one be disiplined in their trade habits and not to let the powers of FEAR and GREED over extend you and break you with a margin call that kills 80% (plus) of traders in the FOREX world.
Knowing when to take your profit and be happy because you have met your goal for the week is very important...but knowing to have HARD stoplosses to preserve your account balance is just as important.
Think about it...5% is not really that much but in the long term a 5% return each week greatly exceeds any return one would have with any investment vehicle or stock in the entire world.
Again, the KEY is consistance and personal discipline.
Evalautor.:nerd: