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All Indicators Trading system

  • #781
  • Oct 26, 2012 5:13am Oct 26, 2012 5:13am
Quoting tafadzwa02
To prove that my system works , I want to tell you something now before it happens .
Buy EURJPY and put stop anywhere below 102.90 and take profit @ 104.03.Just do this one and see what happens .Be patient , the market might spend the next 4 hrs going round and round , but you will win this one at the end of the day

Crazy Market , Am out , this thing is heading towards 102.80...!!!!
  • #782
  • Oct 26, 2012 5:19am Oct 26, 2012 5:19am
Quoting tafadzwa02
Crazy Market , Am out , this thing is heading towards 102.80...!!!!
That's why I thought it would be fun. Based on the 4H, I believe it'll go way beyond 102.80. Possibly even 101.80ish. In either case, I'm reasonably sure the stop will get hit first.
Attached Image (click to enlarge)
Click to Enlarge Name: ej_4h.gif Size: 22 KB
Ghost Rider - WWTBMD?
  • #783
  • Oct 26, 2012 5:29am Oct 26, 2012 5:29am
am glad I didn;t listen to you tafa ;-)
On my way to financial independence - if others can do it - I can do it
  • #784
  • Oct 26, 2012 5:40am Oct 26, 2012 5:40am
Quoting albchr
That's why I thought it would be fun. Based on the 4H, I believe it'll go way beyond 102.80. Possibly even 101.80ish. In either case, I'm reasonably sure the stop will get hit first.
Not yet Bro , this one won't get that far , I will buy @102.80, with 104.03 as my target
  • #785
  • Oct 26, 2012 5:55am Oct 26, 2012 5:55am
Quoting tafadzwa02
Not yet Bro , this one won't get that far , I will buy @102.80, with 104.03 as my target
A bold move to be sure. It will bounce a bit at 102.80 as it's fairly good support. But I'm targeting 102.10 myself.

Good luck to you sir.
Ghost Rider - WWTBMD?
  • #786
  • Oct 26, 2012 6:59am Oct 26, 2012 6:59am
Quoting albchr
A bold move to be sure. It will bounce a bit at 102.80 as it's fairly good support. But I'm targeting 102.10 myself.

Good luck to you sir.
what indicators do you use to predict the movement?
On my way to financial independence - if others can do it - I can do it
  • #787
  • Oct 26, 2012 7:17am Oct 26, 2012 7:17am
Quoting Eur Usd
what indicators do you use to predict the movement?
I use no indicators at all. As my Sig says, S/R + PA. That's it
Ghost Rider - WWTBMD?
  • #788
  • Oct 26, 2012 7:36am Oct 26, 2012 7:36am
Quoting albchr
I use no indicators at all. As my Sig says, S/R + PA. That's it
in this case how did you predict movement of eur/jpy?
sorry for silly question but I am at work so don't have access to charts
On my way to financial independence - if others can do it - I can do it
  • #789
  • Oct 26, 2012 8:32am Oct 26, 2012 8:32am
Quoting Eur Usd
in this case how did you predict movement of eur/jpy?
sorry for silly question but I am at work so don't have access to charts
Not a silly question at all. For me, yesterday's close below the two daily TL's, the daily pivot and forming a pin showed selling pressure. Then we had 3 bearish 4H bars with the last closing below daily pivot support 1 at 103.389.

After that it was just wait for a slight retrace up and took short at 103.50. Closed that one at 50% fib support of 102.761 (102.89 actual close)

Now have another open and still looking for 102.10. We'll see but yen is weakening now.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ej_daily.gif Size: 18 KB
Click to Enlarge Name: ej_4h.gif Size: 17 KB
Ghost Rider - WWTBMD?
  • #790
  • Oct 29, 2012 11:44am Oct 29, 2012 11:44am
Trading SUCKS!!!!
  • #791
  • Oct 29, 2012 11:48am Oct 29, 2012 11:48am
same with me today ;-)
2% loss, hopefully tomorrow will be better.
but to be honest I am loosing hope
On my way to financial independence - if others can do it - I can do it
  • #792
  • Oct 29, 2012 2:20pm Oct 29, 2012 2:20pm
Quoting Eur Usd
same with me today ;-)
2% loss, hopefully tomorrow will be better.
but to be honest I am loosing hope
Don't lose hope , I am not yet losing hope , but I have dramatically changed my expectations from this thing.It's not something that one would really rely on for survival.If you have maybe £50k then you can safely rely on this , otherwise for some of us , it is just a time pusher!!.I have attached my .xls for week ending 27-10-2012
Attached File(s)
File Type: xls Actual Vs Projection_Week Ending 27-10-2012.xls   124 KB | 184 downloads
  • #793
  • Oct 30, 2012 2:06am Oct 30, 2012 2:06am
Quoting tafadzwa02
Don't lose hope , I am not yet losing hope , but I have dramatically changed my expectations from this thing.It's not something that one would really rely on for survival.If you have maybe £50k then you can safely rely on this , otherwise for some of us , it is just a time pusher!!.I have attached my .xls for week ending 27-10-2012
It is interesting that as time goes, you are lowering your expectations. I would not say you are becoming more realistic, but what for sure, you are no longer talking about making a killing on a tiny account.
  • #794
  • Oct 30, 2012 2:47am Oct 30, 2012 2:47am
Quoting Eur Usd
same with me today ;-)
2% loss, hopefully tomorrow will be better.
but to be honest I am loosing hope
Am gutted , I lost 3 opportunities because of fear.I had 8 losing trades in a row , so when the next 3 came , I was not confident enough , they all were winners !!! typical.I could be about 120 pips up waking up this morning.Trading sucks I tell you .
No matter how you swear to follow the system , it just is not as easy as that
  • #795
  • Oct 30, 2012 2:53am Oct 30, 2012 2:53am
I made some mistakes as well. all went against my signals. So I am about 6% down, but if the system works for others works for me. 10 loses in a row is normal. that's what mm is for, to prevent loosing too much. besides you should read some of the books from my list, it would be easier for you to cope ;-)
On my way to financial independence - if others can do it - I can do it
  • #796
  • Oct 30, 2012 4:52am Oct 30, 2012 4:52am
weird day to trade today. the market is not moving, and hard to predict what will happen next. I'll lay low
On my way to financial independence - if others can do it - I can do it
  • #797
  • Oct 30, 2012 7:23am Oct 30, 2012 7:23am
Losses in a row are to be expected in any system.
May be if you had a demo trading, you could have known by now what is your maximum losses in a row - some profitable systems can easily have 20-30 losses in a row and still come out profitable. Knowing your system very well is very important.
Anyway, your thread is very good as we really get to see trader's psychology.
  • #798
  • Oct 31, 2012 11:02am Oct 31, 2012 11:02am
This thing really sucks .It makes me sick to the stomach.I had 8 losing trades on the trott.The following 3 trades were winners and I couldn't take them as I was not confident enough.The next 3 were losers and I toOk them.To Make matters worse , I thought GBPUSD was bluffing and I sold it twice and it kept going till it hit my stop.I had less confidence in AUDUSD so I moved my stop to cut my losses.To add salt to the wound - AUDUSD only hit me by 1 pip and started to fall (if only I hadn't moved my stop).
Now I am gutted but I have no option , I just have to

KEEP CALM
AND
CARRY ON


  • #799
  • Oct 31, 2012 11:31am Oct 31, 2012 11:31am
http://www.madhyam.org.in/admin/tend...%20Trading.htm

the most interesting part is
"The currency trading scandal at NAB was the result of a combination of factors including greed, arrogance and lax regulatory and supervisory framework. In October 2003, “rogue traders” at NAB were trading highly leveraged call options on the Australian and New Zealand dollar in the anticipation that these currencies would fall against the US dollar. But their speculative bets were wide of the mark. Instead of falling, Australian and New Zealand dollar rose substantially against the US dollar between October and December 2003. With these currencies gaining strength, the currency traders at the NAB were losing millions of dollars every day. If “rogue traders” had closed positions as the market moved against them, the losses would have been minimal. Instead, they doubled their bets in order to recover initial losses. Taking advantage of loopholes and weaknesses in the bank's system, they also entered fictitious currency transactions in the books to cover up their losses."
Then you ask your self - Who is really controlling this Sh**t if bankers are on the losing end?
  • #800
  • Oct 31, 2012 11:43am Oct 31, 2012 11:43am
Is this the beginning of the end, again? Only you seem to be able to produce the almost perfect inverse curve.

In the last dozen or so trades, have you been religiously setting stop loss and taking them?

If your answer to this question is "yes," then my friend, you are a lot closer to being a great trader than you think.
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