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One hit wonder or am I on to something?

  • #41
  • Dec 30, 2012 2:19pm Dec 30, 2012 2:19pm
Scales upto 50 and 1000ema in my M1 world, but do work well, you might prefer more resoution on M1 using 50 and 1000 worth a try ??

Never heard I think of 1-2-3 but Flu and brain is addled so don't quote me on, if not might learn something in 2012 after all LOL
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #42
  • Dec 30, 2012 2:28pm Dec 30, 2012 2:28pm
Quoting Turveyd
Scales upto 50 and 1000ema in my M1 world, but do work well, you might prefer more resoution on M1 using 50 and 1000 worth a try ??

Never heard I think of 1-2-3 but Flu and brain is addled so don't quote me on, if not might learn something in 2012 after all LOL
M1? I think the granularity of M5 will suffice for now

A very concise explanation of 1-2-3s can be found over here: http://www.ashiinvestments.com/?educ...attern-trading
Financial independence is what I live for
  • #43
  • Dec 30, 2012 2:42pm Dec 30, 2012 2:42pm
Quoting Turveyd
Scales upto 50 and 1000ema in my M1 world, but do work well, you might prefer more resoution on M1 using 50 and 1000 worth a try ??

Never heard I think of 1-2-3 but Flu and brain is addled so don't quote me on, if not might learn something in 2012 after all LOL
Hunted through some of my old PDFs. Found a couple by Joe Ross that explain 123 formations
Attached File(s)
File Type: pdf JoeRossLAWOFCHARTS and appendices.pdf   285 KB | 316 downloads
File Type: pdf 1 2 3 Bollinger bands.pdf   76 KB | 353 downloads
Please Do Not PM Me With Coding Enquiries
  • #44
  • Dec 30, 2012 3:00pm Dec 30, 2012 3:00pm
Quoting Gumrai
Hunted through some of my old PDFs. Found a couple by Joe Ross that explain 123 formations
Thanks will check when more human 2014 area the way it feels.


Maybe this is the start of the 2012 zombie apocalypse he is posting here, no zombie killing for me straight to brain eating, typical!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #45
  • Dec 31, 2012 10:30am Dec 31, 2012 10:30am
seems you have good money management in place...all you need is to find an edge.

I'd be thinking more longterm timeframes...
wo-yoy! wo-yoy! wo-yoy! wo-yoi! wo-yoy-yoy-yoy!
  • #46
  • Dec 31, 2012 10:44am Dec 31, 2012 10:44am
Quoting pemully
seems you have good money management in place...all you need is to find an edge.

I'd be thinking more longterm timeframes...
Never understood the longer term is better / easier to trade logic, it leaves you open to more randomness, its slower, uts much less profit potential.

Master M1 or M5 and pretty quickly your rich.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #47
  • Dec 31, 2012 11:07am Dec 31, 2012 11:07am
Quoting Turveyd
Never understood the longer term is better / easier to trade logic, it leaves you open to more randomness, its slower, uts much less profit potential.

Master M1 or M5 and pretty quickly your rich.
I guess its different strokes for different folks.I found that I can't keep my concentration for a long time.
wo-yoy! wo-yoy! wo-yoy! wo-yoi! wo-yoy-yoy-yoy!
  • #48
  • Dec 31, 2012 11:45am Dec 31, 2012 11:45am
Quoting pemully
I guess its different strokes for different folks.I found that I can't keep my concentration for a long time.

Don't need to do that long, I just fit in a trade or to inbetween work and other hassles when I get time, normally while watching american DL'd TV.

2, 2 hour periods per day 8:30am GMT - 10:30am, then US session 2:30pm to 4:30pm has enough pip potential really, inbetween is generally but not always to slow anyway.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #49
  • Jan 1, 2013 5:46am Jan 1, 2013 5:46am
Best Wishes to everyone for 2013, bring in the pips
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #50
  • Jan 1, 2013 5:57am Jan 1, 2013 5:57am
Quoting billytt
Best Wishes to everyone for 2013, bring in the pips
I'll echo that.
Hope that 2013 goes well for everyone.

I'm enjoying this thread. Doesn't seem to be any chest beating, replies without egoes, hope that it continues for a while yet
Please Do Not PM Me With Coding Enquiries
  • #51
  • Jan 1, 2013 7:44am Jan 1, 2013 7:44am
Quoting Gumrai

I'm enjoying this thread. Doesn't seem to be any chest beating, replies without egoes, hope that it continues for a while yet
We'll have some self appointed Guru's in soon that state forcefully the only way to do it is H4 candles using Tea Leaves as predictive indicator and everything else is just stupid and won't work.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #52
  • Jan 1, 2013 12:29pm Jan 1, 2013 12:29pm
Quoting Turveyd
We'll have some self appointed Guru's in soon that state forcefully the only way to do it is H4 candles using Tea Leaves as predictive indicator and everything else is just stupid and won't work.
lol, i used to trade using blood of virgins but their isnt many around here lol. and i tried sacrificing chickensand throwing their innards onto floor but the wife moaned about the mess so now i use inside bars and recent high/low and spikes lol. take care
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #53
  • Jan 4, 2013 11:04am Jan 4, 2013 11:04am
Best wishes to all for 2013 !

Haven't made a good start of the year .
Got whipped during chop on EU and GU.

Sure it was NFP day, but that shouldn't be an excuse.
I think it's time to start following some advice (e.g. Pemully) and trade higher timeframes before I'll suffer death by a thousand cuts.
Thanks all for the input!
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Financial independence is what I live for
  • #54
  • Jan 4, 2013 11:15am Jan 4, 2013 11:15am
Quoting smatthew
Best wishes to all for 2013 !

Haven't made a good start of the year .
Got whipped during chop on EU and GU.

Sure it was NFP day, but that shouldn't be an excuse.
I think it's time to start following some advice (e.g. Pemully) and trade higher timeframes before I'll suffer death by a thousand cuts.
Thanks all for the input!

-4.9 pips I'd class as BE on the day, first day with new entry methods and looks like you where trading them to impressive.

I don't personally believe Higher Timeframes are any easier, it's still predicting the future kinda which is a tricky game, you need to predict a bigger less live sample of the future with less data.

Be interesting to hear your thoughts when you try it though.

Good luck!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #55
  • Jan 4, 2013 11:37am Jan 4, 2013 11:37am
Quoting Turveyd
-4.9 pips I'd class as BE on the day, first day with new entry methods and looks like you where trading them to impressive.

I don't personally believe Higher Timeframes are any easier, it's still predicting the future kinda which is a tricky game, you need to predict a bigger less live sample of the future with less data.

Be interesting to hear your thoughts when you try it though.

Good luck!
I'm thinking about applying the same entry strategies to D1. A better timeframe for the working man anyway. I can also trade more currency pairs since spread will be less of a factor.
Hmm.. I work Monday to Thursday so I'd have to resist trading the 5M on Fridays

I plan to continue replying to this thread in order to learn from you guys.
Financial independence is what I live for
  • #56
  • Jan 4, 2013 11:53am Jan 4, 2013 11:53am
Quoting smatthew
I'm thinking about applying the same entry strategies to D1. A better timeframe for the working man anyway. I can also trade more currency pairs since spread will be less of a factor.
Hmm.. I work Monday to Thursday so I'd have to resist trading the 5M on Fridays

I plan to continue replying to this thread in order to learn from you guys.

Testing my current method on D1 currently, it's similar I guess, 50SL rather than 5, but waiting days to take profit then if your not around market can and will erase all in an hour or 2.

Rather you than me, Stocks are better for D1 but a lot of chart work each night and need more capital.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #57
  • Jan 4, 2013 12:30pm Jan 4, 2013 12:30pm
smathew..backtest your system at least 4 years back and i think you can see the profitability of a system. Whether its a wonder or not. Seriously there is no need to lose lots of money trading with negative expectacy when you may know it beforehand.

When i say backtest i meant you have to really be honest with yourself and trade it as if you are trading live. All the best.
  • #58
  • Jan 5, 2013 4:58am Jan 5, 2013 4:58am
Happy 2013 everyone and let's hope we rake in the pips..
  • #59
  • Edited 2:56pm Jan 8, 2013 2:53pm | Edited 2:56pm
Full stop and reverse!

I'm going back to the trading method as outlined in my first post, along with the original barebones layout.
Yes, this may seem rash and fickle and some might think I'm bipolar or something.
Just look at it as part of the learning process I've to go through.
I still recall the excitement I've felt on December 22nd after actually having won some trades.
I'm confident I can repeat that performance. I'm also quite sure I'll have some losing days.

I've done a little more backtesting on EU 5M (thanks for your suggestion Supertrader9).
I already did a day by day EU backtest for December (see post http://www.forexfactory.com/showthre...04#post6319004).
In addition I've performed the same analysis on October and November (see attafhed PDF).
I've only considered trades roughly between 9AM and 5PM.

Today I've actually done some trading on my iPhone while I was at work (see screenshot).
My colleagues may have noticed me looking down more often than usual instead of having my eyes glued to my monitor...

Unfortunately, the best trades were during high impact news moments.
The one trade I did enter was almost at the bottom of EU today. Still managed to squeeze out 2 pips (see other screenshot).
Attached Image (click to enlarge)
Click to Enlarge Name: EU.png Size: 34 KB
Attached Image
Attached File(s)
File Type: pdf EU 5M backtest October and November.pdf   399 KB | 175 downloads
Financial independence is what I live for
  • #60
  • Jan 9, 2013 3:37am Jan 9, 2013 3:37am
Change your phone to a Samsung S3 or Note, I was using the Note for that purpose loads better for charts, downside others can see it easier to.

Don't lose your job for 2 pips dude.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
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