Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #16,022
- Edited 6:11pm Mar 11, 2013 5:58pm | Edited 6:11pm
- Joined Nov 2008 | Status: Trader | 50,260 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #16,023
- Mar 11, 2013 6:10pm Mar 11, 2013 6:10pm
- Joined Nov 2008 | Status: Trader | 50,260 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #16,024
- Edited 7:26pm Mar 11, 2013 7:23pm | Edited 7:26pm
- Joined Nov 2008 | Status: Trader | 50,260 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #16,025
- Mar 11, 2013 7:38pm Mar 11, 2013 7:38pm
- Joined Nov 2008 | Status: Trader | 50,260 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #16,027
- Mar 11, 2013 7:49pm Mar 11, 2013 7:49pm
- Joined Nov 2008 | Status: Trader | 50,260 Posts
Emmanuel,
To answer your question on what Eelfranz taught about s & r.
What I remember him saying is: " reduce your bar size to
the smallest possible size and look left". He was always saying
look left to find your levels and s & r. I don't ever remember him
using fibs, s & r, levels, etc. I think he eyeballed it.
I don't ever remember him putting lines on his charts. I think
he went by the tdi 90% of the time and his gut 10% of the time.
He had a "feel" for the market that I'am sure took years
to develop.
I tried to answer...
Perfectly you did. Thanks.
Eelfranz keeps telling me to use my brain. That I LIKE.
He is one of the greatest teacher I ever learn from and the best here in FF.
May His Soul Rest in Eternal Peace. Bless him
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #16,035
- Mar 11, 2013 11:09pm Mar 11, 2013 11:09pm
So here is what I've been doing on my demo account lately.
Before the London open every day, I check my 7 pairs and I aggressively place trades on all the TDI crosses. I figure if I put a TP and SL of 40pips on each, that the TDI will give me a higher than 50% chance of winning the trade. Statistically, by taking every trade possible, I figure that I am giving the best opportunity for the Law of Probabilities in my favour.
What happens most days so far is that I break even or make a small win (20-30pips). Essentially nothing much is changing, similar to if I were a conservative trader who just takes no trades for that day. But emotionally, I find it hurts much more to miss a big move than to make a loss, for me personally. So by aggressively taking trades, the ones that the conservative trader would just leave pretty much break-even for me, and I ensure that I don't become over-cautious and end up missing a trade.
After that style though, when I see a GOOD TDI and PA set up, I leave the TP open and ride it fully, I only use the 40pip 50/50 for the average trades that many probably filter out. This gives me the good 100pip or so gains a few times a month hopefully.
What are an experienced person's thoughts on this? Is this logically sound? Or is there a gap in my logic that I've made as far as probabilities etc?
Thanks for your help.
Tom.
TL;DR I'm trading aggressively with 50/50 TP and SL on the not so good TDIs, assuming I will get better than 50% chance on them and not miss any crosses. Additionally trading the regular TMS strategy when I see a GOOD set-up
Before the London open every day, I check my 7 pairs and I aggressively place trades on all the TDI crosses. I figure if I put a TP and SL of 40pips on each, that the TDI will give me a higher than 50% chance of winning the trade. Statistically, by taking every trade possible, I figure that I am giving the best opportunity for the Law of Probabilities in my favour.
What happens most days so far is that I break even or make a small win (20-30pips). Essentially nothing much is changing, similar to if I were a conservative trader who just takes no trades for that day. But emotionally, I find it hurts much more to miss a big move than to make a loss, for me personally. So by aggressively taking trades, the ones that the conservative trader would just leave pretty much break-even for me, and I ensure that I don't become over-cautious and end up missing a trade.
After that style though, when I see a GOOD TDI and PA set up, I leave the TP open and ride it fully, I only use the 40pip 50/50 for the average trades that many probably filter out. This gives me the good 100pip or so gains a few times a month hopefully.
What are an experienced person's thoughts on this? Is this logically sound? Or is there a gap in my logic that I've made as far as probabilities etc?
Thanks for your help.
Tom.
TL;DR I'm trading aggressively with 50/50 TP and SL on the not so good TDIs, assuming I will get better than 50% chance on them and not miss any crosses. Additionally trading the regular TMS strategy when I see a GOOD set-up
- #16,038
- Mar 12, 2013 12:06am Mar 12, 2013 12:06am
Errrr, thanks, but that was a bit of a random tangent, not really a response to my post. 
Empowers,
When I first learned to trade someone gave me the advice of:
pick one or two pairs and learn how they move. That way when you
move into real money trades your comfortable with how your
pairs move and you build more confidence and your net worth
will increase faster.
After all these years (5) I only watch 4 pairs (eur/usd, gbp/usd, aud/usd
and usd/jpy. Of all these 4 pairs, I like the eur/usd best. The
secret is to build confidence. Confidence in your system, confidence
in your trading abilities, confidence in your money management....
- #16,039
- Mar 12, 2013 12:16am Mar 12, 2013 12:16am
- | Joined Jul 2012 | Status: consciuos incompetence level | 2,064 Posts
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