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Price Action and Trading Discussion

  • #2,961
  • Feb 14, 2013 6:32am Feb 14, 2013 6:32am
Quoting haimber

we have to trade what we see not what we think.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,962
  • Feb 14, 2013 7:16am Feb 14, 2013 7:16am
hey guys a couple trades taken last night. First I am with you DW on the audusd trade, i usually dont wait for the price to react down as my SL gets too big but i anticipate the move. So same chart as you but i have taken the trade.
Attached Image (click to enlarge)
Click to Enlarge Name: audusd feb 13.gif Size: 30 KB


Second trade is the audnzd one just added another position was following it up on the 4HR made a double top and the neckline happend to be in the exact area where my weekly resistance is so i took a more agressive entry than usually as i would usually wait for the price to come back and touch the resistance back to check as support now but we will see how it goes.
Attached Image (click to enlarge)
Click to Enlarge Name: audnzd feb 13.gif Size: 28 KB
  • #2,963
  • Feb 14, 2013 9:54am Feb 14, 2013 9:54am
Quote
[

Second trade is the audnzd one just added another position was following it up on the 4HR made a double top and the neckline happend to be in the exact area where my weekly resistance is so i took a more agressive entry than usually as i would usually wait for the price to come back and touch the resistance back to check as support now but we will see how it goes. Attachment

HI JIBJIB210

AUDNZD
wait for breakout in this one.
Attached Image (click to enlarge)
Click to Enlarge Name: aud.jpg Size: 91 KB
trading is not an addiction. it's a profession.
  • #2,964
  • Feb 14, 2013 10:26am Feb 14, 2013 10:26am
euraud

we'll need some patience with this one. worth though.
Attached Image (click to enlarge)
Click to Enlarge Name: aud.jpg Size: 87 KB
trading is not an addiction. it's a profession.
  • #2,965
  • Feb 14, 2013 6:14pm Feb 14, 2013 6:14pm
Hi guys,

I have just opened up all my platforms to find that everything has been reset on all of them.

As you would imagine quite frustrating as now I have to go through and set up all my watchlists and templates all over again which does take some time.

Can anyone tell me as to why this would potentially happen ?
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,966
  • Feb 14, 2013 6:16pm Feb 14, 2013 6:16pm
Quoting DarkWolF
Hi guys,

I have just opened up all my platforms to find that everything has been reset on all of them.

As you would imagine quite frustrating as now I have to go through and set up all my watchlists and templates all over again which does take some time.

Can anyone tell me as to why this would potentially happen ?
What platform? I've had situations where I've had a crash (typically after placing my system in hibernate, the program doesn't care for that) and it did similar things, but after exiting and re-loading my newer saves showed up.
  • #2,967
  • Feb 14, 2013 6:20pm Feb 14, 2013 6:20pm
Quoting Kanzler
What platform? I've had situations where I've had a crash (typically after placing my system in hibernate, the program doesn't care for that) and it did similar things, but after exiting and re-loading my newer saves showed up.
Hi Kanzler,

All of my MT4 platforms.

Every single of them across various brokers has reset itself
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,968
  • Feb 14, 2013 6:36pm Feb 14, 2013 6:36pm
Quoting DarkWolF
Hi Kanzler,

All of my MT4 platforms.

Every single of them across various brokers has reset itself
I've never used MT4, but likely your preferences were probably physically saved on your disk somewhere. I would ask the customer support if that is the case and if so you'll know where to look. If they're not available right now I would poke around in the application data directory for the program. As to why it happened, I have no idea. My platform (FXCM's) seems to load all of these preferences at application startup and doesn't check the disk again.
  • #2,969
  • Feb 14, 2013 6:38pm Feb 14, 2013 6:38pm
Quoting Kanzler
I've never used MT4, but likely your preferences were probably physically saved on your disk somewhere. I would ask the customer support if that is the case and if so you'll know where to look. If they're not available right now I would poke around in the application data directory for the program. As to why it happened, I have no idea. My platform (FXCM's) seems to load all of these preferences at application startup and doesn't check the disk again.
I have my watchlist saved as .sets and template files etc, so that makes it all a bit easier but just annoying more than anything.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,970
  • Feb 14, 2013 7:13pm Feb 14, 2013 7:13pm
Quoting DarkWolF
I have my watchlist saved as .sets and template files etc, so that makes it all a bit easier but just annoying more than anything.
Yeah I'd contact their customer support if I were you and ask about it. Software is complex and unless we have the source they're the only ones who could really track a bug down.
  • #2,971
  • Feb 14, 2013 7:33pm Feb 14, 2013 7:33pm
Quoting jibjib210
hey guys a couple trades taken last night. First I am with you DW on the audusd trade, i usually dont wait for the price to react down as my SL gets too big but i anticipate the move. So same chart as you but i have taken the trade.Attachment

Second trade is the audnzd one just added another position was following it up on the 4HR made a double top and the neckline happend to be in the exact area where my weekly resistance is so i took a more agressive entry than usually as i would usually wait for the price to come back and touch...
nice stacking of positions on your audnzd trade. Awesome bro. Still working on my stackin skills.
  • #2,972
  • Feb 15, 2013 1:16am Feb 15, 2013 1:16am
Quoting DarkWolF
Hi guys,

I have just opened up all my platforms to find that everything has been reset on all of them.

As you would imagine quite frustrating as now I have to go through and set up all my watchlists and templates all over again which does take some time.

Can anyone tell me as to why this would potentially happen ?
What you should do is to safe any watchlist as a profile that way any changes will not after your setting i hope this will help.
  • #2,973
  • Feb 15, 2013 2:41am Feb 15, 2013 2:41am
Quoting DarkWolF
Hi guys,

I have just opened up all my platforms to find that everything has been reset on all of them.

As you would imagine quite frustrating as now I have to go through and set up all my watchlists and templates all over again which does take some time.

Can anyone tell me as to why this would potentially happen ?
scan your computer for trojan horse or viruses. can cause damage to mt4 sometimes, i had it also before few years.
trading is not an addiction. it's a profession.
  • #2,974
  • Feb 15, 2013 3:03am Feb 15, 2013 3:03am
Quoting Tiwa
What you should do is to safe any watchlist as a profile that way any changes will not after your setting i hope this will help.
Hi Tiwa,

Interesting, I didnt even know that you could do that on MT4.

I will definately be exploring that option, could be a good one even for when I do a PC format etc.

I still have my weekly watchlists to set up again so will try it out when I do that

Cheers.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,975
  • Feb 15, 2013 3:24am Feb 15, 2013 3:24am
Quoting haimber
scan your computer for trojan horse or viruses. can cause damage to mt4 sometimes, i had it also before few years.
Yep will be doing that
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
  • #2,976
  • Edited 2:02pm Feb 16, 2013 12:47pm | Edited 2:02pm
USDCAD WEEKLY.

closed above the 1.0000 level and weekly resistence. lets see how it goes...
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADWeekly.jpg Size: 85 KB
trading is not an addiction. it's a profession.
  • #2,977
  • Feb 17, 2013 9:50am Feb 17, 2013 9:50am
Hi guys!

I would like to open discussion for the below method.
I am trying to build a system with martingale + hedging, and this is 100% profitable system. For the example below,

Pair 1: EURUSD
Pair 2: GBPUSD
Correlation: High positive correlation
Daily range average : EURUSD = 90-100 pips
Daily range average : GBPUSD = 150-200 pips

Case 1:
Long: EURUSD
Short: GBPUSD

Market moves downward, i apply martingale method for losing position (EURUSD) until price breakeven and goes profit with trailing stop. Meanwhile, i apply martingale method also for winning position (GBPUSD) with trailing stop and hedging
I know that if i use martingale method in losing position, i will get margin call due to large position size are added in, so i use hedging method with martingale method also to offset back the drawdown. The purpose of doing this is to minimize margin call. And at the same time, capture the profit as much as possible for pair GBPUSD. This system for this case seem doing well.


Case 2:
Long: EURUSD
Short: GBPUSD

Market moves upward, and i apply the same as case 1.
However, i will get some drawdown because of the "Daily range average", For this case, GBPUSD will lose more than EURUSD, but i think this will somehow minimize the margin call/drawdown by hedging. Until i get exit from trailing stop with in profit.


My question:
What's the worst outcome would be?
How do i deal with case 2?
What's else do I miss?
  • #2,978
  • Feb 17, 2013 2:20pm Feb 17, 2013 2:20pm
Quoting ~bull.bear~
Hi guys!

I would like to open discussion for the below method.
I am trying to build a system with martingale + hedging, and this is 100% profitable system. For the example below,

Pair 1: EURUSD
Pair 2: GBPUSD
Correlation: High positive correlation
Daily range average : EURUSD = 90-100 pips
Daily range average : GBPUSD = 150-200 pips

Case 1:
Long: EURUSD
Short: GBPUSD

Market moves downward, i apply martingale method for losing position (EURUSD) until price breakeven and goes profit with trailing stop. Meanwhile, i apply martingale...


did you try it for a while you say its 100%?????

try it first on demo only.

the adr in gbpusd is less than 150-200 pips.

there is no rules in correlation!! it works till it doesnt.... dont rely on it if you want to preserve your capital.

a lot of traders did it already and the experience wasnt so good.

better to learn price action. that is method of the market.


good luck.
trading is not an addiction. it's a profession.
  • #2,979
  • Feb 17, 2013 2:42pm Feb 17, 2013 2:42pm
Quoting haimber
did you try it for a while you say its 100%?????

try it first on demo only.

the adr in gbpusd is less than 150-200 pips.

there is no rules in correlation!! it works till it doesnt.... dont rely on it if you want to preserve your capital.

a lot of traders did it already and the experience wasnt so good.

better to learn price action. that is method of the market.


good luck.
Thank for your reply. This system is based on martingale method, so it is always win because position will only be closed if in profit. And martingale has been the common topic among forum, to average down the price. However, there is a risk for this, trader would blow up the account one day because of the big quantities of contracts to be purchased, in pertaining to margin call.

So now I am trying to minimize this risk(margin call) , therefore hedging is an option with refer to pairing correlation. One pair would eat up the capital and the other pair earn back the funds, but in the end, trader would get what his/her original fund and some profit after position is closed.
  • #2,980
  • Feb 18, 2013 6:14am Feb 18, 2013 6:14am
Quoting ~bull.bear~
Hi guys!

I would like to open discussion for the below method.
I am trying to build a system with martingale + hedging, and this is 100% profitable system. For the example below,

Pair 1: EURUSD
Pair 2: GBPUSD
Correlation: High positive correlation
Daily range average : EURUSD = 90-100 pips
Daily range average : GBPUSD = 150-200 pips

Case 1:
Long: EURUSD
Short: GBPUSD

Market moves downward, i apply martingale method for losing position (EURUSD) until price breakeven and goes profit with trailing stop. Meanwhile, i apply martingale...
Hi bull.bear,

Firstly can I ask is this a method that you have done any sort of forward testing with ?

Secondly, anyone who believes they have a 100% trading method I would suggest that it would be extremely hard to achieve and I would indeed like to see some sort of facts to stand behind that. Just my opinion but I believe a 100% trading system is basically impossible.

And last of all, hedging against positions I would highly suggest to stay away from unless you have an extremely large trading account that can handle some significant drawdown. Hedging can be all good to offset losses etc, but eventually you need to close out one half of the hedge leaving you with drawdown on the other half.

A quick bit of reading for anyone wondering what martingale is pay particular attention to the third paragraph:

http://www.investopedia.com/articles...#axzz2LFg08HdP

My advice would be that if you are thinking of trading a method such as this do some serious forward testing on a demo account first before committing any real money to the endeavour.

Cheers.
Twitter - DarkWolF@OzForexTrader - Facebook Page - link in post 1
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