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Ramblings of a Forex Junkie

  • #861
  • Feb 20, 2013 7:18pm Feb 20, 2013 7:18pm
Quoting Seneca pilot
It just happened that I had gotten out of bed and was looking at the computer then. The 8:30 US news had happened and the price very obviously stalled at the level. As it had been hit so much already today I let it close back below the level and entered on that retest that made the first pin bar. I would have had the same result had I entered on the daily open trade.

Not for nothing but you will kill your profitability if you continue to move stops to BE. Either take profit at the next level, hold for a bigger gain, or get stopped out but don't...
Yes I agree I need to let my trades run their course and accept the final outcome, its just when you check it every so often and it seems to bounce back and forth between levels my confidence starts to diminish..I know this is something I need to work on and just trust the method as you have said.
Cheers
Josh
nollej is power..
  • #862
  • Feb 20, 2013 8:40pm Feb 20, 2013 8:40pm
Quoting nollej
Yes I agree I need to let my trades run their course and accept the final outcome, its just when you check it every so often and it seems to bounce back and forth between levels my confidence starts to diminish..I know this is something I need to work on and just trust the method as you have said.
Cheers
Josh
I understand completely. I still struggle with it all the time. Sometimes I have to literaly walk away from the computer when price is getting close to the target. It seems that it always stalls three pips away. It gets a little easier every trade.
  • #863
  • Edited 2:21am Feb 21, 2013 2:16am | Edited 2:21am
I like to test manually. When I get an idea I will generally barracade myself in the office on the weekend and go back through years of charts to investigate it. Once I have satisfied myself that the idea is valid I then take it to the test account for a few weeks. If that works out I then will try it with a portion of my normal trade size until I am comfortable. Most of the time the methods I use simply have too much discretion to test using an EA.

To get an idea of the expectancy you need to chart the results of your ...





Yes, it helps very much - Thanks.
And agreed about the demo, being worth (almost) nothing. I too, always prefer to test with a few (but real) dollars.
"Always be yourself " Batman
  • #864
  • Feb 21, 2013 2:47am Feb 21, 2013 2:47am
Lost 11 on a long just before i entered my short position here. Picked up 78 on this one. TP at h4 demand.
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What is any ocean but a multitude of drops?
  • #865
  • Feb 21, 2013 3:01am Feb 21, 2013 3:01am
Quoting Xhale12
Lost 11 on a long just before i entered my short position here. Picked up 78 on this one. TP at h4 demand.
Daily open stronger than low. Doesn't happen all that often. Nice change of direction. I sold UJ at daily open and bought EU at yesterday low. I am flat now the two trades cancelled each other out. No chart my trading computer is acting up.

Have any of you ever used Mac to trade. I am in the market for a new more reliable computer. Windows is so fragile but it seems the world revolves around it.
  • #866
  • Feb 21, 2013 3:16am Feb 21, 2013 3:16am
Quoting Seneca pilot
Daily open stronger than low. Doesn't happen all that often. Nice change of direction. I sold UJ at daily open and bought EU at yesterday low. I am flat now the two trades cancelled each other out. No chart my trading computer is acting up.

Have any of you ever used Mac to trade. I am in the market for a new more reliable computer. Windows is so fragile but it seems the world revolves around it.
Never used a Mac, but I also was about to buy one. As I mainly trade from the office (as yet), I have to connect to my VPS from my notebook at work.
I like the VPS, because I can also connect to trade from my android phone or my tablet PC.
  • #867
  • Feb 21, 2013 3:22am Feb 21, 2013 3:22am
Quoting Olarion1975
Never used a Mac, but I also was about to buy one. As I mainly trade from the office (as yet), I have to connect to my VPS from my notebook at work.
I like the VPS, because I can also connect to trade from my adroid phone or my tablet PC.
I trade on a imac 27" running paralells 6 and windows xp... works a dream just run mt4 on windows and everything else on mac. Windows apps open alongside the mac ones, no need to keep switching between OS's... very cool, the windows programs even look like mac ones.

Not had a freeze or a restart necessary in 5 years...very solid system..
tradewith60
  • #868
  • Feb 21, 2013 3:35am Feb 21, 2013 3:35am
Quoting 60minuteman
I trade on a imac 27" running paralells 6 and windows xp... works a dream just run mt4 on windows and everything else on mac. Windows apps open alongside the mac ones, no need to keep switching between OS's... very cool, the windows programs even look like mac ones.

Not had a freeze or a restart necessary in 5 years...very solid system..
Wow. I just looked at the iMac spec and some pics...looks very nice. I think this would be my first purchase when I decide to trade from home.
  • #869
  • Feb 21, 2013 3:35am Feb 21, 2013 3:35am
Quoting 60minuteman
I trade on a imac 27" running paralells 6 and windows xp... works a dream just run mt4 on windows and everything else on mac. Windows apps open alongside the mac ones, no need to keep switching between OS's... very cool, the windows programs even look like mac ones.

Not had a freeze or a restart necessary in 5 years...very solid system..
Great, so sick of windows and explorer. Fragile as hell. I never turn the trade computer off but lately it seems it is restarting every night and screwing up all my levels. I guess microsoft has to patch the system every day. I seem to constantly be resetting my lines. Seems to be taking forever to get going after a restart.

Thanks guys going to sleep now.
  • #870
  • Feb 21, 2013 8:17am Feb 21, 2013 8:17am
Quoting Seneca pilot
Great, so sick of windows and explorer. Fragile as hell. I never turn the trade computer off but lately it seems it is restarting every night and screwing up all my levels. I guess microsoft has to patch the system every day. I seem to constantly be resetting my lines. Seems to be taking forever to get going after a restart.

Thanks guys going to sleep now.
I run Linux Mint 14 kde with Tiny xp in virtual box for Mt4. Stable and free.
  • #871
  • Feb 21, 2013 11:28am Feb 21, 2013 11:28am
And another nice trading day comes to an end...3.6R account increase with 1% risk per trade.
I like the levels...
  • #872
  • Feb 21, 2013 1:59pm Feb 21, 2013 1:59pm
Quoting Seneca pilot
I have found that the benefit to maintaining this thread is not worth the time commitment (there is really no benefit). It seems that there are very few questions and little discussion. I don't have anything to offer but hard work so I guess not many are interested. I will check by and answer questions if there are any and I may post from time to time if I have a thought to add.
++++++++++++++++++++++++++++++++

Believe me when I say, I have questions.

One of my pet peeves is seeing the same question repeated ad naseam due to someone not bothering to look for answers in existing dialogue.

Since I am only on pg. 16, I do still have questions. I'll just bring up one I haven't seen answered yet, and if it's in the thread somewhere, just point me in that direction.

• The question is in regards to post 80, on the EU 3 hours leading up to LO;
- The basics are straight forward, my question revolves around at what point would you decide an
H1 candle has gone to far, prior to closing
&
- Are your SL's and Targets handle similar to what you described regarding the ATR %?

• And one additional comment:
- I also use a Mac as my main trading comp. I do have a PC (Didn't take me long to figure out what P C meant) which I use only for charts and almost nothing else. I restart the PC if it's been going over 12 hours. The restarting can be helpful, as during this process, files are put away and then replaced in their proper location. (Just my Opinion). I also defrag and delete files once per week.

• One other very impressive option for mac users, is a program called 'Crossover' which allows you run MT4 as simple as any other low system draw app, such as 'Text Edit'. It even appears to run better then VM (similar to Parallels).

Darryl

"Today, I would like to become the man my dog thinks I am." ~ Jack Thomson

  • #873
  • Feb 21, 2013 3:34pm Feb 21, 2013 3:34pm
Hi tub, seneca everyone, hope your all good
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #874
  • Feb 21, 2013 3:50pm Feb 21, 2013 3:50pm
[quote=diamonddbw;6465083]++++++++++++++++++++++++++++++++

Believe me when I say, I have questions.

One of my pet peeves is seeing the same question repeated ad naseam due to someone not bothering to look for answers

hello, i think perhaps sometimes these questions are asked due to the questioner not having english as a first language plus it is difficult reading back. i actually have a couple of questions to ask but will do so later lol. (nothing to do with ibs Senica),As for pc, i got 2 and they run at same time.
be good
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #875
  • Feb 21, 2013 6:23pm Feb 21, 2013 6:23pm
Quoting diamonddbw
++++++++++++++++++++++++++++++++

Believe me when I say, I have questions.

One of my pet peeves is seeing the same question repeated ad naseam due to someone not bothering to look for answers in existing dialogue.

Since I am only on pg. 16, I do still have questions. I'll just bring up one I haven't seen answered yet, and if it's in the thread somewhere, just point me in that direction.

• The question is in regards to post 80, on the EU 3 hours leading up to LO;
- The basics are straight forward, my question revolves around at...
Your question is a good one. Occasionally with the one hour breakouts if the breakout bar is abnormally large the trade might not work out. An ideal breakout is one that the bar closes five to fifteen pips outside the range and the breakout is in the direction of the larger trend. Adding filters will increase the hit rate but decrease the overall profitability. Also I think I forgot to mention that if the breakout happens and three of four hours go by without a retracement then things might have changed fundamentally and you might want to pass on the trade if price comes back. The stop is the opposite side of the range and targets are 1/1 minimum. Often if stopped out on the first breakout the second one in the opposite direction will work out well and make enough to pay for the first one. I have traded this well over a year and you can go through a losing streak or two but it makes money consistently.

The ATR stops are only used with the level trading.

Thanks for the computer info. My trading set-up is in the shop being cleaned off and tuned up. Computer guy says no big deal it'll be good for a couple more years. I want a mac but I'm a tight SOB so I won't spend the money until I have to.

Welcome to the thread.
  • #876
  • Feb 21, 2013 7:02pm Feb 21, 2013 7:02pm
Quoting Seneca pilot

Thanks for the computer info. My trading set-up is in the shop being cleaned off and tuned up. Computer guy says no big deal it'll be good for a couple more years. I want a mac but I'm a tight SOB so I won't spend the money until I have to.

Welcome to the thread.
++++++++++++++++++++++++++++++++

Thanks to the welcoming committee, er, that would you. lol

Sorry I forgot to thank you for your time. Thank You!

I believe you've done an excellent job of opening up your brain for tours. Not something that comes naturally to folks. I know I'm guilty (much of the time) of going on about whatever subject, and then assuming that my audience is in full comprehension of what's going on inside my head.

Keep up the good fight, and your lot, as well as ours will be the beneficiaries.

Darryl

"Your imagination is your preview of life's coming attractions." ~ Albert Einstein

  • #877
  • Feb 21, 2013 8:11pm Feb 21, 2013 8:11pm
Quoting billytt
Hi tub, seneca everyone, hope your all good

Hey billytt. Doin good. In the process of changing brokers as soon as I get my withdraw from Tradersway.
  • #878
  • Edited 9:43pm Feb 21, 2013 8:20pm | Edited 9:43pm
Quoting Xhale12
Lost 11 on a long just before i entered my short position here. Picked up 78 on this one. TP at h4 demand.

I did the exact same thing with E/U, at same time, right after news, after 3:00am E.T. First went long then cut the long position and switch to short side,seeing the momentum shifted dramatically. Being flexible and cutting/switching pays, if one knows when to do it.
Never Trade without a defined risk, never, never, never.
  • #879
  • Feb 21, 2013 8:52pm Feb 21, 2013 8:52pm
Quoting FxGladiator
I did the exact same thing with E/U, at same time, right after news, after 3:00am E.T. First went long then cut the long position and switch to short side,seeing the momentum shifted dramatically. Being flexible and cutting/switching pays, if one knows when to do it.
Hi FX. For the future when you take your screenshots you should choose the save chart as-is option. This will only show the chart and not the rest of the trade station. your account number is listed on the top of your chart. You may want to edit the post and delete that if it is a live account.

Yes flexibility is key.
  • #880
  • Feb 21, 2013 9:47pm Feb 21, 2013 9:47pm
Just to subscribe. I hope to read this soon.
bit . ly/fantestimonials
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