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  • #11,361
  • Jul 16, 2012 7:34pm Jul 16, 2012 7:34pm
Quoting 4rexx
thanks for the support sky, I work in education and one strategy to motivate someone to learn a topic is to allow them teach someone else it, as this will make them do their homework! I like to do research to gain a good understanding of things and if it can help others that's even better. The many contributors and readers of this thread are all at different levels of experience, understanding and confidence, and the techs and fundies expressed in this thread i'm sure helps traders of all abilities, to grow in those three areas.



Holy Cow i...
Good post and congratulation for 750 pips Nice trades.
I think it is not in my nature to understand fundamentals. I can use news for trading as I explained in one previous post but I have no understanding of fundamentals. I am not an analytical type. But I am not using all technical stuff either. For example Fibs. Never used them.
I like to go with momentum as momentum breaks everything, s/r, RL and so forth.
Guys here post a lot of ezotheric stuff, but I do like Skynet's charts.
I like to keep things simple to avoid getting bogged down in too much thinking. Just need to implement my plan.
The only thing that worries me is trade management by which I mean taking profits, especially partial profits. I have been doing it but started thinking it is effecting my results which could have been better.
Rex, are you also taking partial profits or you getting in and out 100%?
  • #11,362
  • Jul 17, 2012 10:37am Jul 17, 2012 10:37am
Quoting kamifx
I read and consider COT every week, unlike COT analysis i won't see EURUSD rising during this week, may some Up-Trend on Monday and Tuesday but i can't find any good reason to support EURO Zone. On the other hand,
Safest Currency Heaven are AUD, NZD
USDCHF
Still i am waiting breaking important R-level 0.9905 for Up-Trend or 0.9550 for Down-Trend(Although i said before the trend will be bounce back from 0.9910 now it's time to break it, regarding bouncing back 0.9878 on Friday, and now finding...
As i've told about the trend EurUsd, today it goes down toward Strong Support 1.22 and if H4 candle opens under it, pair goes toward 1.2166 and till Friday we have to see the swing moving 1.2166 and 1.2225
Kami
Don’t follow someone else’s trading advice blindly
  • #11,363
  • Jul 17, 2012 11:50am Jul 17, 2012 11:50am
Quote
Originally Posted by Holy Cow

Rex, are you also taking partial profits or you getting in and out 100%?

HC I need to work on trade management myself, and definitely can improve as recently I have been getting a lot of B/E, some losses and 20 or 25 pips here and there, nothing to write home about. When that happens I normally take a step back do some research to see what I am maybe doing wrong. Sometimes it is not giving stops enough room, other times not reading price action well enough.

I think its important to revisit both winning and losing trades. I Like to take some profits off the table where possible and move stops to B/E and let the rest run (momentum and fundies willing). I like to follow Hectors maxim "dont let a winning trade turn into losing one." Although I did not always.

Persistence overcomes resistance!
  • #11,364
  • Jul 17, 2012 12:22pm Jul 17, 2012 12:22pm
Quoting 4rexx
HC I need to work on trade management myself, and definitely can improve as recently I have been getting a lot of B/E, some losses and 20 or 25 pips here and there, nothing to write home about. When that happens I normally take a step back do some research to see what I am maybe doing wrong. Sometimes it is not giving stops enough room, other times not reading price action well enough.

[size=3][font=Calibri]I think its important to revisit both winning and losing trades. I Like to take some profits off the...
or you are trading a losing system. If that is the case, then you can fine tune your trade management all you want. You still won't make any money in the long-term.
  • #11,365
  • Jul 17, 2012 1:15pm Jul 17, 2012 1:15pm
Quoting 4rexx
HC I need to work on trade management myself, and definitely can improve as recently I have been getting a lot of B/E, some losses and 20 or 25 pips here and there, nothing to write home about. When that happens I normally take a step back do some research to see what I am maybe doing wrong. Sometimes it is not giving stops enough room, other times not reading price action well enough.

[size=3][font=Calibri]I think its important to revisit both winning and losing trades. I Like to take some profits off the...
considering what I see taking partial until trend shows weakness doe snot make sense. I had winners form 3 to 7 R:R to 1 and cause was closing parts too early have not earned what i should ahve. so, all new tardes going let them run until some sign that trend is weakening. for these trades it should have been now. closed my short e/u. even after news could not break yesterday's low. moved all stops to slightly above/ below recent swings. will see. added few more trades. gbp/usd long. stop almost got hit. closed short cad/nzd yesterday -20 pips as signal was against me. nzd/jpy is under question. if anothe rsignal against me will close too. no big deal as I can get a way more pips if I am right.
I am mostly reading psychological stuff. to let winners run and cut losers shot.
  • #11,366
  • Jul 17, 2012 4:25pm Jul 17, 2012 4:25pm
[quote]
Quoting Custos
or you are trading a losing system.
Custos

I am not trading a losing system, because I am trading the Hector 3 SMA strategy which is the foundation of this whole thread started by nightmoves. If it was a losing system this thread would of withered and died long ago. Unless of course you believe it is a losing system, which would beg the question why you would want to post in such a "losing" thread. Any good or poor results I get is down to me and not this proven system.

Persistence overcomes resistance!
  • #11,367
  • Edited 12:15am Jul 18, 2012 12:05am | Edited 12:15am
Quoting 4rexx


Custos

I am not trading a losing system, because I am trading the Hector 3 SMA strategy which is the foundation of this whole thread started by nightmoves. If it was a losing system this thread would of withered and died long ago. Unless of course you believe it is a losing system, which would beg the question why you would want to post in such a "losing" thread. Any good or poor results I get is down to me and not this proven system.

Persistence overcomes resistance!
just saying that you should always check the premises from which you reach your conclusions. Cause if the premise is wrong, then the conclusions are false as well. I see over and over again the same arguments that "my trading psychology is not good enough", when in fact a short check of the profitability of the trading method would reveal that it's most of the time not about the psychology. And a thread not dying / life-time of a thread doesn't correlate to a system's profitability. I am just speaking from a general point of view.
  • #11,368
  • Edited 1:14am Jul 18, 2012 1:01am | Edited 1:14am
Quote
Originally Posted by Holy Cow

was closing parts too early have not earned what i should have. so, all new trades going let them run until some sign that trend is weakening

HC go for it and fine tune your strategy and see how it goes. I am definitely down for for letting profits run. I have set a target before it has been hit nicely, but of course the trend ran on with me out of the trade. You are a strong technical trading so after price has retraced and moved your way again proving that that support of resistant level has held move your stop up behind it to lock in some profit, so if price decides to go against you for whatever reason you have taken some pips off the table. (or at least B/E) The worst thing is being in good profit then giving it back to the broker (which makes you a little more broker).

Check here the philosophy of this thread is to let profits run and when a 123 reversal occurs enter in the new direction. However, it important to know what the overall trend is on the highest W, M TF's so you know if you are trading in line with the overall trend on the D or 4H or with a retracement of it. The posts by Micardo, Jerry Collie and Bredjaz and others are informative. See what you think.

Persistence overcome resistance!
  • #11,369
  • Jul 18, 2012 6:28am Jul 18, 2012 6:28am
Quoting 4rexx
HC go for it and fine tune your strategy and see how it goes. I am definitely down for for letting profits run. I have set a target before it has been hit nicely, but of course the trend ran on with me out of the trade. You are a strong technical trading so after price has retraced and moved your way again proving that that support of resistant level has held move your stop up behind it to lock in some profit, so if price decides to go against you for whatever reason you have taken some pips off the table. (or at least B/E) The worst thing is being...
The thing is I have no targets and I am not doing any research on fundamentals, nor I use trend lines to enter trades now. I do like when signal is along weekly trend but will take it against weekly trend too. We never know where the market gonna go and how far, hence no target and taking all signals. i noticed, usually the signal I do not take is the best trade.
I trade from daily charts and signal is on daily.
  • #11,370
  • Jul 18, 2012 6:57am Jul 18, 2012 6:57am
USDCHF: After News and returning above this level (0.9910) cause i think it goes till 0.9934
Sell Stop Position:0.9910
T/P1:0.9877
T/P2:0.9833
T/P3:0.9770
For longer Time
T/P3:0.9537
Kami
Don’t follow someone else’s trading advice blindly
  • #11,371
  • Jul 18, 2012 7:53am Jul 18, 2012 7:53am
Quote
Originally Posted by Holy Cow

I do like when signal is along weekly trend but will take it against weekly trend too. I trade from daily charts and signal is on daily.

[/quote]

If you are trading from the D chart you always want to know the direction of the overall W chart to get your bigger picture bias then at least you will know if you are entering in line with the main trend or on a retracement of it. Please look at ther link in my last post to see if it gives you some ideas.

Persistence overcomes resistance!
  • #11,372
  • Jul 19, 2012 2:34am Jul 19, 2012 2:34am
If you are trading from the D chart you always want to know the direction of the overall W chart to get your bigger picture bias then at least you will know if you are entering in line with the main trend or on a retracement of it. Please look at ther link in my last post to see if it gives you some ideas.

Persistence overcomes resistance![/quote]


Hi Fxrex, I started reading this thread. I know Mintico. seen him in other threads. The problem I see with his approach is too much left to personal discretion. trends are not always as perfect as it is shown on his charts and 4H is too little to even watch. on oanda the smallest TF I watch is 8H. He has got good ideas though. I have not read in details but I noticed the use of 123.
  • #11,373
  • Jul 19, 2012 3:57am Jul 19, 2012 3:57am
i like back and forth discussion between 4rexx and holy cow.

if i may say this, i disagree with some of holy cow's opinions.

but then, again, this is trading,...there is a thousand way to skin a cat.
" It may mean something. It may mean nothing at all "
  • #11,374
  • Jul 19, 2012 7:17am Jul 19, 2012 7:17am
Quoting Holy Cow
i noticed, usually the signal I do not take is the best trade.
In micardo's thread he says on tech analysis, you have to take every entry signal (according to your rules) you get, as you dont know if the one you decide to leave will be the home run.

Persistence overcomes resistance!
  • #11,375
  • Jul 19, 2012 8:52am Jul 19, 2012 8:52am
Quoting 4rexx
In micardo's thread he says on tech analysis, you have to take every entry signal (according to your rules) you get, as you dont know if the one you decide to leave will be the home run.

Persistence overcomes resistance!
I know this. the best tarde howevr should have been eur/aud. I was watching the pair and then when got signal i shorted it. it was consolidating and after some 200 pips moved towards my be stop. I close dit 50 pips away form the stop. the stop was never hit. and it dropped. that was a month and a half ago. 1000+ pips trade should have been. so I am holding onto gbp/aud like for dear life. just keep trailing. was 900 pips today. aud/jpy also might be going for break.
  • #11,376
  • Jul 19, 2012 9:14am Jul 19, 2012 9:14am
I definitely take all signals now. got stopped on a 3 futures/commodities trades , reversed too as signal was. oil hit 900 pips today. this is nothing. if everything goes well it might be 3000+ pips. the most important is to know when to take profit, but not partials. all in all out.
  • #11,377
  • Jul 19, 2012 11:00am Jul 19, 2012 11:00am
Quoting Holy Cow
... oil hit 900 pips today. this is nothing. if everything goes well it might be 3000+ pips. the most important is to know when to take profit, but not partials. all in all out.

Again I take my hat off to you, your performance should inspire all in this thread, its definitely inspiring me. What it also proves is that if you have good technical analysis and you see a strong trend you can ride that sucka in any market! You said you where reading up on the psychology part of trading, which many traders I believe do not do, so when you have a few losers in a row it easy to see price heading back towards your stop to make you want too run for cover and close the trade.

But if you have the minerals (thats big stones!) too keep your nerve, the numbers you are posting recently shows what the end result can be. Holy cow I hope you are buying the milkshakes for everyone this weekend!

Persistence overcome resistance!
  • #11,378
  • Jul 19, 2012 11:30am Jul 19, 2012 11:30am
Quoting 4rexx
Again I take my hat off to you, your performance should inspire all in this thread, its definitely inspiring me. What it also proves is that if you have good technical analysis and you see a strong trend you can ride that sucka in any market! You said you where reading up on the psychology part of trading, which many traders I believe do not do, so when you have a few losers in a row it easy to see price heading back towards your stop to make you want too run for cover and close the trade.

But if you have the minerals (thats big stones!) too...
http://imageshack.us/photo/my-images...esfutures.jpg/

crossed 1000+ pips on oil. I am actually down 3% this week on commodities, 3 1% losses, my floating equity is bigger but I am not taking it obviously. no signals to take anything. the trend is up.
It is home runs I should be looking for. on currencies I had up to 10% in floating equity it is up and down up and down. no taking yet.
Attached Image (click to enlarge)
Click to Enlarge Name: trades futures.JPG Size: 57 KB
  • #11,379
  • Jul 19, 2012 11:32am Jul 19, 2012 11:32am
btw, outsideof oil, those other 3 positive are all losers that signal was to reverse. very choppy this week. very. on currencies 1 trade stopped and twice closed for smaller loss.
  • #11,380
  • Jul 19, 2012 11:42am Jul 19, 2012 11:42am
I think psychology is a key. Been reading Trend following by Covel and Market Wizards. very inspiring. It's kind of the whole mindset had changed.
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