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Another simple system - Time-Frame 15

  • #20,361
  • Mar 15, 2013 11:03am Mar 15, 2013 11:03am
Quoting Xhale
Another today
This was weird entry when it happend at Asia,but it worked out very well!Congratule!
  • #20,362
  • Mar 15, 2013 12:06pm Mar 15, 2013 12:06pm
Quoting kaka_ht
Add one more EJ long!
forgot what I said about camels huh?
  • #20,363
  • Mar 15, 2013 10:10pm Mar 15, 2013 10:10pm
Quoting jordfx
forgot what I said about camels huh?
I was so greedy,closed one at BE,other at BE+40 pips instead of 70 pips!
  • #20,364
  • Mar 16, 2013 10:26am Mar 16, 2013 10:26am
All of you still trading with the EMA's should give this post by Kostas a read......

http://www.forexfactory.com/showthre...85#post6519585
What is any ocean but a multitude of drops?
  • #20,365
  • Mar 16, 2013 4:13pm Mar 16, 2013 4:13pm

You should never be surprised, confused or frustrated about what the MARKET does.

You should only be surprised, confused or frustrated about what YOU do.

  • #20,366
  • Mar 16, 2013 4:18pm Mar 16, 2013 4:18pm
Learn from the Cheetah.

http://www.topdogtrading.com/images/Cheetah_Stare.jpg The Cheetah waits and waits and waits in the tall grass. It doesn't pursue the prey, but rather it just sits silently and perfectly still waiting for its prey to come to it.

It can wait for looooong periods of time.

Perfectly still.

Perfectly quiet.

Boring.

And it doesn't attack the strongest prey. It's not interested in a fair fight. It wants the weakest one that's limping across the field.

Because the Cheetah isn't in it for sport. It's in it for survival.
  • #20,367
  • Mar 16, 2013 4:23pm Mar 16, 2013 4:23pm
Beginners work on trading.
Masters work on themselves.
  • #20,368
  • Mar 16, 2013 4:24pm Mar 16, 2013 4:24pm
Quoting jordfx

You should never be surprised, confused or frustrated about what the MARKET does.

You should only be surprised, confused or frustrated about what YOU do.

And I am, but to often...
JacekPreserve Precious Capital
  • #20,369
  • Mar 16, 2013 5:28pm Mar 16, 2013 5:28pm
Quoting Jackub
And I am, but to often...
The challenge therefore my friend, is not to master the markets, but to master your REACTIONS to the market.
It's more about managing your behavior than anything else ... of course that's often the most difficult thing of all!
  • #20,370
  • Mar 16, 2013 6:16pm Mar 16, 2013 6:16pm
Quoting jordfx
Beginners work on trading.
Masters work on themselves.
Thats true mate!
If you dont stand for something,you 'll fall for anything.
  • #20,371
  • Mar 16, 2013 6:40pm Mar 16, 2013 6:40pm
Quoting jordfx
The challenge therefore my friend, is not to master the markets, but to master your REACTIONS to the market.
It's more about managing your behavior than anything else ... of course that's often the most difficult thing of all!
I disagree. Master the market then reactions will follow.

In battle, without seeing a full picture of what's going on in battle field, you are doomed even for most skilled and trained soldiers.
  • #20,372
  • Mar 17, 2013 1:01am Mar 17, 2013 1:01am
Quoting pkimnyc
I disagree. Master the market then reactions will follow.

In battle, without seeing a full picture of what's going on in battle field, you are doomed even for most skilled and trained soldiers.
Yeahh, but your observation is not far from Jordfx, still ME is a key...
JacekPreserve Precious Capital
  • #20,373
  • Mar 17, 2013 4:19am Mar 17, 2013 4:19am
Quoting pkimnyc
I disagree. Master the market then reactions will follow.

In battle, without seeing a full picture of what's going on in battle field, you are doomed even for most skilled and trained soldiers.
I understand what you are trying to say my friend. But still, what use is a trained, skilled soldier seeing a full picture of whats going on in the battle field if he cannot pull the trigger when the time comes? No amount of training can help a soldier overcome cowardice. He has to face the demons within himself, by himself. Likewise, fear, greed, cutting winners too short, letting losers run too long, adding to losing positions, over-trading, entering trades out of boredom and for the thrill, terrible money management, etc are the true bane of the newbie trader. It's not really so much that they don't grasp basic concepts of support, resistance, candlestick patterns, market structure, etc, etc. The demons within have to be defeated before any success can be achieved in trading.
  • #20,374
  • Mar 17, 2013 4:26am Mar 17, 2013 4:26am
" It's not really so much that they don't grasp basic concepts of support, resistance, candlestick patterns, market structure, etc, etc. The demons within have to be defeated before any success can be achieved in trading "

Hope one day will be able to say the same... our mental structure is what we , newbies are fighting with

JacekPreserve Precious Capital
  • #20,375
  • Mar 17, 2013 5:04am Mar 17, 2013 5:04am
Quoting jordfx
I understand what you are trying to say my friend. But still, what use is a trained, skilled soldier seeing a full picture of whats going on in the battle field if he cannot pull the trigger when the time comes? No amount of training can help a soldier overcome cowardice. He has to face the demons within himself, by himself. Likewise, fear, greed, cutting winners too short, letting losers run too long, adding to losing positions, over-trading, entering trades out of boredom and for the thrill, terrible money management, etc are the true bane of...
It would help newbies if you could advice how and by what tools you're using to defeat your inside demons?

Thanks.

Ps. I like your Cheetah metaphor.
Accept as it is being!
  • #20,376
  • Mar 17, 2013 5:14am Mar 17, 2013 5:14am
Quoting pkimnyc
I disagree. Master the market then reactions will follow.

In battle, without seeing a full picture of what's going on in battle field, you are doomed even for most skilled and trained soldiers.
I tend to agree, if you master the market, your confidence will grow with it, them you will be positive and confident about it.
  • #20,377
  • Mar 17, 2013 5:27am Mar 17, 2013 5:27am
Quoting jordfx
I understand what you are trying to say my friend. But still, what use is a trained, skilled soldier seeing a full picture of whats going on in the battle field if he cannot pull the trigger when the time comes? No amount of training can help a soldier overcome cowardice. He has to face the demons within himself, by himself. Likewise, fear, greed, cutting winners too short, letting losers run too long, adding to losing positions, over-trading, entering trades out of boredom and for the thrill, terrible money management, etc are the true bane of...
Indeed what you state here is in fact what goes in our minds when we see the tree and when we want to pull the trigger, our uncertainty and fear to loose more on our loosing account keeps us from acting and think properly.
May I ask that besides placing pictures of trades here, to also place your comments that what went on your minds the seconds before you decided to enter the trade? I dont want to think the same way you guys think, but that will give us more elements to analyze when the time comes to us to pull that trigger.
The psychology that goes behind before entering the trade will help us to buildup our strength, small things that for your guys are standards and basic, it might be for us still complicated.

Big thank you for your help.
  • #20,378
  • Mar 17, 2013 5:47am Mar 17, 2013 5:47am
This may has nothing to do with trading directly, but the same principles apply.

Sun Tzu - Art of War

Written 2,300 years ago by Sun Tzu a great Chinese military genius during theera between 476-221 B.C. where a few hundred wars equivalent to 150 years ofWorld War II were fought non-stop between the warring states of China.Present powerful classic tools that can be applied to overcome personal orbusiness confrontation, obstacles, as well a human relationship.


Sun Tzu - Art of War, reveals secrets for success. Many businesses use thisbook as basis for their business strategy and the same can be applied in oureveryday life situations, for e.g.in dealing with conflicts. The same you can apply when you trade the market. Itis an intelligent method for triumph over non-negotiable marketwhich does what t wants.


You need to know both yourself the trader andyou need to know the market you trade in.

Sun Tzu said:
Know the other and know yourself
Fight one hundred battles without danger.




Know not the other and yet know yourself
One victory for one defeat.



Know not the other and know notyourself
Everyfight is certain defeat.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,379
  • Mar 17, 2013 8:00am Mar 17, 2013 8:00am
Quoting jordfx
I understand what you are trying to say my friend. But still, what use is a trained, skilled soldier seeing a full picture of whats going on in the battle field if he cannot pull the trigger when the time comes? No amount of training can help a soldier overcome cowardice. He has to face the demons within himself, by himself. Likewise, fear, greed, cutting winners too short, letting losers run too long, adding to losing positions, over-trading, entering trades out of boredom and for the thrill, terrible money management, etc are the true bane of...
I like the "Know your yourself" quote from Sun Tzu - definitely one of the top ten must read books - you won't achieve instant enlightenment, but you may have a lightbulb moment.

"What makes you pull the trigger" is as important as "Why didn't you pull the trigger"

Taking a screenshot as you take the trade and after the trade is exited will help you to look at your decision making process after the trade is completed.

Take some screenshots of trades that you had concerns over and did not take - follow them and see how they turned out.

The reason for this is that as the candles develop and close, the indicators that you are using also change, so what you saw when you entered may not be what is there after the candle closed - e.g fractals, tdi crosses, engulfing candles, moving average crosses, stochastics, etc. These are all dynamic indicators that reflect PA. Some of the indicators do repaint - for example fractals.

Build a library of good / bad trades. Study these and understand what chart signals were good versus bad entry points.

Study some of the successful traders' screen shots and see how their trades compare with yours - of course this will not helo you understand what they were thinking as they entered and managed their trades.

Run backtests and look for patterns and set ups that your trading plan is based on. Build your statistics for the outcomes of draw downs, stop losses and take profit levels. Prove this with a demo account and live trades.

Now run with a live account with real money - get used to how it feels to have some skin in the game and how the wins feel. How did it feel when a trade moved against you? Did you leave your SL and TP alone or fid you futz with the settings?

Develop confidence in your trading plan, so that you know from a statistical perspective that you have a high probability of success when you make your entry decision. As you build your trading library, your inner demons will diminish. From success, confidence will grow. You will know that you enter on high probability trades and you will accept that occasional losses are to be expected and that you have quantified these losses before you enter as a worst case scenario.

Not convinced that anyone can master the market, but maybe with some screen hours, you can build and master your trading plan.

Just my two cents on the current discussion.

Happy pip hunting.
"To live with Passion, it takes Courage and Grace to survive"
  • #20,380
  • Mar 17, 2013 9:12am Mar 17, 2013 9:12am
Quoting Britpip7
I like the "Know your yourself" quote from Sun Tzu - definitely one of the top ten must read books - you won't achieve instant enlightenment, but you may have a lightbulb moment.

"What makes you pull the trigger" is as important as "Why didn't you pull the trigger"

Taking a screenshot as you take the trade and after the trade is exited will help you to look at your decision making process after the trade is completed.

Take some screenshots of trades that you had concerns over and did not take - follow them and see how they turned out.

The...
5 star post buddy! Tnx for this.
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