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Ramblings of a Forex Junkie

  • #721
  • Feb 15, 2013 2:23pm Feb 15, 2013 2:23pm
Quoting Seneca pilot
Which pair/s did you trade? EJ and GJ behaved perfectly.

Glad you ended the day in a nice profit.
I traded 4 pairs: EU, EJ, GU, GJ. And you are right, EJ and GJ made my wins while EU and GU mainly lost today.
  • #722
  • Feb 15, 2013 3:38pm Feb 15, 2013 3:38pm
Quoting Xhale12
EJ was a beauty today. My most profitable trade of the week.
.
Hi,
Can you please explaing your E/J trade entry. Thanks.
Never Trade without a defined risk, never, never, never.
  • #723
  • Edited 5:10pm Feb 15, 2013 4:10pm | Edited 5:10pm
Quoting FxGladiator
Hi,
Can you please explaing your E/J trade entry. Thanks.
EJ opened up at 123.210. Previous day low was 123.186. Price traded up during European trading then during London came back down to test the open price. It traded down a bit then rose 200+ pips during London and NY. Textbook daily open trade.

Green lines are daily open and Thursday low.
Attached Image (click to enlarge)
Click to Enlarge Name: ej today.jpg Size: 68 KB
  • #724
  • Feb 15, 2013 6:45pm Feb 15, 2013 6:45pm
Quoting Seneca pilot
Pips; what's the big deal about pips. All over this forum I see people bragging about pips earned. Would you be impressed if a trader told you they made four thousand pips a month, on average, month in month out. How about if a trader told you they earned two hundred pips a month. Which one is more impressive. What if I told you the guy making four thousand risked eight thousand to get it and the guy making two hundred only risked a hundred forty. Who is better off the pip raker with the expectancy of .5 or the small winner with the expectancy of...

This post......I really like. Well done. (no sarcasm intended at all)
  • #725
  • Feb 15, 2013 8:01pm Feb 15, 2013 8:01pm
You people are unbelievable.

Look back at threads and posts five+ years ago and you will see the same questions: Should I sell at 124.55 or 124.56? Should I sell at 124.60? Look at this line. Look at that line. Should I put my stop loss at 124.57 or the (ATR * Pi) / .381 ?????

SP initially declared none of the trade by trade BS, but you dragged him under anyway. He was foolish to acquiesce and too kind to continuously enable your ineptitude.

All I asked for was the credit,adulation and vouches I deserve from you, the great unwashed. Had those been forthcoming I might have cast as many pearls before swine as SP has.

I have attached an equity curve from a SIMPLE strategy that uses a particular price level that is NOT one of SP's (it is mine).
It is a simple SAR (that is Stop & Reverse for you people) without any of the mystical discretion that apparently exceeds your capabilities.

Stretch yourselves and get this: It only wins 47% long or short, it trades 3.2 times per day, it wins $2.18 for each $1 it loses, and the average win is $391 versus the average loss of $185.

Why don't you get OFF OF YOUR KNEES and get ON YOUR BRAINS??? (And grow a backbone in the process???)
On second thought, where would I be without liquidity providers like you?

SP, sleep and family time are much more important than placating these people. Surely you don't need their puerile worship?

I will stipulate that the bully pulpit and the last words are yours. Thankfully, I won't be here to enjoy them. You people are a bring-down.
All I wanted was 40 or 50 vouches.

The econ calendar brought me to FF in the first place. I was fortunate to find a better calendar that also includes real time FX news from prime brokers and central banks.

Fondly&upyours,
2ii2c
Attached Image (click to enlarge)
Click to Enlarge Name: EQcurve_secret.png Size: 129 KB
  • #726
  • Feb 15, 2013 8:10pm Feb 15, 2013 8:10pm
Quoting 2ii2c
You people are unbelievable.

Look back at threads and posts five+ years ago and you will see the same questions: Should I sell at 124.55 or 124.56? Should I sell at 124.60? Look at this line. Look at that line. Should I put my stop loss at 124.57 or the (ATR * Pi) / .381 ?????

SP initially declared none of the trade by trade BS, but you dragged him under anyway. He was foolish to acquiesce and too kind to continuously enable your ineptitude.

All I asked for was the credit,adulation and vouches I deserve from you, the great unwashed....
Did you have a bad day?
  • #727
  • Feb 15, 2013 8:12pm Feb 15, 2013 8:12pm
Quoting tubguy
This post......I really like. Well done. (no sarcasm intended at all)
Thank you. I like to make money, couldn't care less how many pips are involved.
  • #728
  • Edited 8:56pm Feb 15, 2013 8:56pm | Edited 8:56pm
Quoting Seneca pilot
Did you have a bad day?
I can kind of see his point but at the same time that looked awfully like an elitist grandstand.

2ii2c, sometimes people just want to give back. The truth for many of us is that were it not for the generosity of others who donated their time and effort into posting on these forums, despite the lack of reward, we may not be where we're at now. That is certainly the case for myself.
  • #729
  • Feb 15, 2013 9:43pm Feb 15, 2013 9:43pm
Quoting 2ii2c
You people are unbelievable.

Look back at threads and posts five+ years ago and you will see the same questions: Should I sell at 124.55 or 124.56? Should I sell at 124.60? Look at this line. Look at that line. Should I put my stop loss at 124.57 or the (ATR * Pi) / .381 ?????

SP initially declared none of the trade by trade BS, but you dragged him under anyway. He was foolish to acquiesce and too kind to continuously enable your ineptitude.

All I asked for was the credit,adulation and vouches I deserve from you, the great unwashed....
In all seriousness this is somewhat true. I had no intention of this becomming a system thread. I think it is easy for anyone to repeat the same old truisms and sound smart. Problem is, you have no way of knowing whether that person can trade. I thought by making clear and concise examples of the concepts with actual live trades that people would see that I walk the walk as well as talk the talk. The inevitable result of putting out the trade examples I have shown and backing up the concepts (trading and money management) is that many people who would not have otherwise put in the effort to find such things will want more detail. I struggle with this. I know you and many of the people who are regulars here do put in the effort and do find their own way. I have developed some nice friendships here and honestly I would only post once or twice a week if I just kept it to concepts.

I accept the blame for going down this road and henceforth I will try to invoke a little tough love with regard to those who obviously haven't read the thread or put in the effort to at least get the basic concepts of trading. I will not do the trade explorer as I think this would just result in me being a signal service. I am a nice person and I do want to help people, but you are right that I need to make people dig on their own.

To the readers of the thread:

The trade method is nice and can make you money. It won't do anything for you though if you don't study the big picture concepts contained in this thread. You must learn the basics, the necessary evil to achieve success in any endeavour is to put in the hard work to understand the mechanics behind the method. The trading method I have outlined in this thread is secondary to the important big picture understanding of the markets that you need to succeed. I could post every trade I take (enter here, stop here, target here) and you would never learn a thing. If you want to learn the trading method I have outlined here go back to the post I made on times, open some charts, and go to work learning how price reacts to these areas. If you really want to succeed and thrive in this business you must learn on your own.

You as a trader must understand every detail of the method you choose to use. The method you use to trade must be your own. You must learn through trial and error exactly what you can accomplish. To know what I can do will not help you. Entries are a small part of this business, an insignificant piece of the pie. There are literally dozens of entry methods that will give the trader a positive edge. The reason so many fail is that the average person will not put in the massive effort necessary for success. Unfortunately average is not, and will never be good enough for trading success. I have said it many times in this thread; trading is simple but it is the hardest thing I have ever done. The discipline needed to trade well is far beyond anything I have ever attempted.

When you are saying to yourself: I have the necessary discipline. Think, be critical. Do you? Did you read the papers I linked early in the thread about market microstructure (you will never understand why my levels work unless you did)? Did you open your tiny test account so you can practice without hurting your bankroll or your psyche. Do you have the dedication to get little or no sleep while you learn to trade. The market doesn't care if you are tired during London or if you have to go to work tomorrow. Would you leave a nice job with normal hours that pays well so you could have a night job that allows you to trade? I did. It is perfectly fine to approach trading as an expensive hobby. For most that is what it is. If you want, however to be a trader. If you want to make a living at this you will not get there by following anyone else's lead.

I am sorry for being so long winded.

2ii2c I hope you will reconsider hanging around and posting a little. I certainly don't blame you for not wanting to share methods you have worked hard to develop. I do enjoy your posts and consider you among my friends here on this little forum. If you never return I understand.
  • #730
  • Feb 15, 2013 9:52pm Feb 15, 2013 9:52pm
Quoting Kanzler
I can kind of see his point but at the same time that looked awfully like an elitist grandstand.

2ii2c, sometimes people just want to give back. The truth for many of us is that were it not for the generosity of others who donated their time and effort into posting on these forums, despite the lack of reward, we may not be where we're at now. That is certainly the case for myself.
I got help here. I lurked and read for four years before I joined. Many of the people who helped me will never know it. I thought it might be nice to pay it foreward a little.
  • #731
  • Feb 15, 2013 9:58pm Feb 15, 2013 9:58pm
Quoting 2ii2c
All I asked for was the credit,adulation and vouches I deserve from you, the great unwashed. Had those been forthcoming I might have cast as many pearls before swine as SP has. ...... All I wanted was 40 or 50 vouches.
Why do you want vouches? They don't add to your trading knowledge or proficiency, or make you any more profitable. I'll happily give you all of mine. LOL.
  • #732
  • Feb 15, 2013 10:03pm Feb 15, 2013 10:03pm
Quoting hanover
Why do you want vouches? They don't add to your trading knowledge or proficiency, or make you any more profitable. I'll happily give you all of mine.
Shit there was someone in the EU thread that ended up with 10+v in months just because they had a female avatar. The vouch system has a lot of flaws but I'm not sure how it would be corrected.
  • #733
  • Feb 15, 2013 10:16pm Feb 15, 2013 10:16pm
Quoting 2ii2c
You people are unbelievable.

Look back at threads and posts five+ years ago and you will see the same questions: Should I sell at 124.55 or 124.56? Should I sell at 124.60? Look at this line. Look at that line. Should I put my stop loss at 124.57 or the (ATR * Pi) / .381 ?????

SP initially declared none of the trade by trade BS, but you dragged him under anyway. He was foolish to acquiesce and too kind to continuously enable your ineptitude.

All I asked for was the credit,adulation and vouches I deserve from you, the great unwashed. Had...
Wow! Your mad because you have a handfull of posts and nobody vouched for you? They really aren't all that. When did you do something to deserve a vouch? much less 40-50. I glanced back at your posts and they appear quite friendly but I see nothing that would be worthy of all those vouches. Not trying to be ugly here, just pointing out what I see.

Btw, nice equity curve.
  • #734
  • Feb 15, 2013 10:26pm Feb 15, 2013 10:26pm
Quoting Kanzler
Shit there was someone in the EU thread that ended up with 10+v in months just because they had a female avatar.
Doesn't surprise me. I've never vouched for anybody. Instead, I prefer to write a note in their profile page stating why I value their contribution; I think it's more personal and meaningful.

I just posted this a few minutes ago. Maybe Gumrai is right; that many folk here place higher value on vouches and adulation than on improving their risk-adjusted-returns. Maybe I'm part of a naive minority, in that I prioritize the latter. But I'd respectfully argue that vouches didn't pay for my wife's collection of designer sunglasses. LOL.
  • #735
  • Feb 15, 2013 10:29pm Feb 15, 2013 10:29pm
Quoting hanover
Doesn't surprise me. I've never vouched for anybody. Instead, I prefer to write a note in their profile page stating why I value their contribution; I think it's more personal and meaningful.

I just posted this a few minutes ago. Maybe Gumrai is right; that many folk here place higher value on vouches and adulation than on improving their risk-adjusted-return. Maybe I'm part of a naive minority, in that I prioritize the latter. But I'd respectfully argue that vouches...
The only people here that care about vouchers or any other such BS are unsuccessful traders. Success breeds confidence and confident people do not need the acceptance of others, particularly strangers on an internet forum.
  • #736
  • Feb 15, 2013 10:35pm Feb 15, 2013 10:35pm
Quoting hanover
But I'd respectfully argue that vouches didn't pay for my wife's collection of designer sunglasses. LOL.
her boyfriend did.
Congratulations ScalaFX for coming out of the closet!
  • #737
  • Feb 15, 2013 10:39pm Feb 15, 2013 10:39pm
Quoting nubcake
her boyfriend did.
Ouch!

  • #738
  • Feb 15, 2013 10:51pm Feb 15, 2013 10:51pm
Hi SP,

I have been a silent reader/lurker in this nice thread.I got nothing of value to share so I keep my mouth shut.If I received something its been my nature to say thank you.
Anyway thanks to you,I have learned some new things here. Hope you can keep on posting.
  • #739
  • Feb 15, 2013 10:57pm Feb 15, 2013 10:57pm
Quoting hubby7
Hi SP,

I have been a silent reader/lurker in this nice thread.I got nothing of value to share so I keep my mouth shut.If I received something its been my nature to say thank you.
Anyway thanks to you,I have learned some new things here. Hope you can keep on posting.
You're most welcome. I won't stop until I have nothing more to say. That'll be a while.
  • #740
  • Feb 16, 2013 12:40am Feb 16, 2013 12:40am
Quoting Seneca pilot
EJ opened up at 123.210. Previous day low was 123.186. Price traded up during European trading then during London came back down to test the open price. It traded down a bit then rose 200+ pips during London and NY. Textbook daily open trade.

Green lines are daily open and Thursday low.

Thanks a lot SP. Appreciate your reply.
Never Trade without a defined risk, never, never, never.
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