Ramblings of a Forex Junkie | Page 76 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Forex Trading: Incorporating Price Behavior into a Forex Trading System 4 replies

Forex Training: What to Look for in a Forex Training Program 1 reply

The Journal Of A Macro Fundamental & Technical Analysis Junkie 26 replies

Trade Anatomy - ramblings of an old-timer 147 replies

Attachments: Ramblings of a Forex Junkie
Exit Attachments

Ramblings of a Forex Junkie

  • #1,501
  • Mar 15, 2013 10:58am Mar 15, 2013 10:58am
There's going to be a lot more of the Q&A game in the coming weeks. I am going to force this thread back to teaching or abandon it. It has gotten out of hand.
  • #1,502
  • Mar 15, 2013 11:01am Mar 15, 2013 11:01am
Quoting Seneca pilot
The News bar was much larger than any candles nearby. There was no follow through. Once the low of the failed breakout candle was broken that opened the door for a move back to the low of the candle. You can't ever KNOW what price will do next, however we get tradable patterns which have probabilities on our side. With this situation you had a nice little twenty pip failure candle with a target thirty three pips away. 1.5/1 RR is a good bet in my book. Also if the breakout candle turns out not to be a failure you can get long at the top cause its...
Ok, perfect! Thank you very very much.
Apprecciate it SP!
"Always be yourself " Batman
  • #1,503
  • Mar 15, 2013 11:04am Mar 15, 2013 11:04am
Quoting Seneca pilot
What's your source I can't find it on IFR.
BUZZOPTIONS-IFR maturity calendar
That came from the OANDA fxTrade News
  • #1,504
  • Mar 15, 2013 11:05am Mar 15, 2013 11:05am
Quoting TantumVerum
BUZZOPTIONS-IFR maturity calendar
That came from the OANDA fxTrade News
Well I have just overlooked it then. I didn't know about the Monday one so 3050 will be in play the rest of the day.
  • #1,505
  • Mar 15, 2013 2:29pm Mar 15, 2013 2:29pm
Quoting Seneca pilot
Well I have just overlooked it then. I didn't know about the Monday one so 3050 will be in play the rest of the day.
What are you fellows talking about? TantumVerum whats the analysis on BUZZOPTIONS-IFR maturity calendar?
  • #1,506
  • Mar 15, 2013 2:37pm Mar 15, 2013 2:37pm
Quoting square1
What are you fellows talking about? TantumVerum whats the analysis on BUZZOPTIONS-IFR maturity calendar?
Google is a great tool.

Forex options.
  • #1,507
  • Mar 15, 2013 2:43pm Mar 15, 2013 2:43pm
Quoting Seneca pilot
There's going to be a lot more of the Q&A game in the coming weeks. I am going to force this thread back to teaching or abandon it. It has gotten out of hand.
it was a good thread with the ramblings, for instance earlier today i said my daughter wanted me to make a trade for her if we had a crossover but as you know we didnt. she still wants me to give her money ???

back to top of page, when SP spoke about opening breakout going back to post 80, this is a great trading method and no body should be having losses or i should say losing. Perhaps some traders are not ready for trading weekly or longer as i honestly believe this is not for everyone and secondly perhaps too much emphasis is being placed on (thinking) about what market will do, set you triggers and wait to trade rant over, take care
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #1,508
  • Edited 9:21pm Mar 15, 2013 9:05pm | Edited 9:21pm
Seneca, I was checking Daily Open Line, just this technique is worth a lot of pips and RRs, if you find a way to manage SL as small as possible.

Enclosing some tools for research and trading for others.
Attached File(s)
File Type: ex4 Daily_High_Low.ex4   3 KB | 310 downloads
File Type: ex4 daily_open_line.ex4   2 KB | 279 downloads
File Type: ex4 Daily Range PeterE.ex4   3 KB | 314 downloads
File Type: ex4 DailyBox.ex4   6 KB | 296 downloads
File Type: ex4 DailyData.ex4   9 KB | 298 downloads
  • #1,509
  • Mar 16, 2013 5:32am Mar 16, 2013 5:32am
Quoting snail69
This was the UJ trade during NY session. It went up to 6RR down to S3, where closed for day !

Exited due to proximity of 95.500 and the fact we were below Yesterday Low.

White dotted line is 50 SMA.


PS: The EU move after news stopped at exact R3 level - Fib based pivots....
Excuse me if this comes across as me trying to police SP's thread, but I have a few issues with this post:

1) You posted this when it was clearly asked that this not be by the OP of the thread today. It tells me there was no respect for the previous posts, or lack of reading.

2) What was the point of the PS? Are you saying that price stopped there because of that? If you make a statement you should state why. Don't bother answering the questions because it will most likely not help the thread, but if you use them for your trading, good for you. I get the feeling there is no reason behind this and a misunderstanding of market structure and who's playing who.

I am not an angel and don't claim to be. I have posted too against where SP wants the thread to go, but I believe I at least gave information/reasons relevant to the thread. I stopped after I read what SP would like to see and not see. This post is walking the line and I know that. I have read numerous threads on FF on topics like this and while I have fully admitted I don't trade exactly like SP the philosophy is the same and threads like these are what allowed me to see clearly. The thing is these threads die out, because people move away from it's purpose amongst others.

Snail, it may seem like I have called you out. It's more the context and timing of the post than anything. I am sure you are trying to help and were happy about the trade, which I congratulate you on for being in profit per whatever your philosophy and plan is. Don't take it too personal.
  • #1,510
  • Mar 16, 2013 6:12am Mar 16, 2013 6:12am
Tantrum, it is ok. Wanted just to show that Seneca's method with Daily Open Line really works and encourage other traders to explore Seneca's teaching.

Will try to delete post mentioned and will not post very often thenafter.


Edit: deleted

===============================================




Quoting TantumVerum
Excuse me if this comes across as me trying to police SP's thread, but I have a few issues with this post:

1) You posted this when it was clearly asked that this not be by the OP of the thread today. It tells me there was no respect for the previous posts, or lack of reading.

2) What was the point of the PS? Are you saying that price stopped there because of that? If you make a statement you should state why. Don't bother answering the questions because it will most likely not help the thread, but if you use them for your trading, good for you....
  • #1,511
  • Mar 16, 2013 6:31am Mar 16, 2013 6:31am
Quoting snail69
Tantrum
Touche...

I rest my case.
  • #1,512
  • Mar 16, 2013 8:25am Mar 16, 2013 8:25am
Ok here's the deal. There is no need for fighting. This is a public internet forum. I could not and would not try to control what anyone says here. I have the option of banning but I am not a fan of that option. I can however control the posts that I choose to respond to. If I don't respond to a post don't take it personally. If I respond to a question with another question it means dig deeper on your own. I will answer a question and help where I think it is needed.

Imagine you were paying me to mentor you. Would you want to pay four or five thousand to be spoon fed or would you want to be challenged and learn to get the knowledge on your own? Would you want to be aided in being self sufficient so that when the mentoring was over you could stand on your own? Would you want to come away with the knowledge that you can develop your own trading "system" or have the feeling that when the training ended you were on your own with a method you didn't completely trust.

I asked that you guys do a little project this weekend. It will take three or four hours. It is part of the building block process to learn this or any method. If you aren't willing to put in the effort to do this simple thing then you are not ready to be a trader. All of you don't need this and I and you know who you are. For the ones that do need it I can and will help you. I am simply asking that you show me that you are serious. Serious traders work constantly to improve. It consumes you.

I don't have the time to continue to respond to everything posted. I don't have the time to post daily wrap-ups. I was confronted by a friend via e-mail about (in his words) my massochistic tendencies in allowing this thread to stray so far from its intended purpose. I had no intention from the beginning of this becomming a teaching thread. The cat is out of the bag now but I wont allow this thread to become a full time job. Help me help you by attempting to keep your posts to questions that you can't find an answer for. Don't post trades unless there is a lesson to be taught. Post a trade if you learned from the experience and think it might help others.

On the other hand I enjoy the social posts. Please come here to shoot the breeze with me. I consider many of you as friends and will do what I can to help where you need it.

Chris
  • #1,513
  • Mar 16, 2013 10:26am Mar 16, 2013 10:26am
Quoting Seneca pilot
Ok here's the deal....
Can I just say .

btw I'm determined to find time for this bit of study. Are we looking at EU EJ GU GJ or will EU suffice? Also are we taking rough notes or are you looking for a spread-sheet/pie chart?
  • #1,514
  • Mar 16, 2013 1:11pm Mar 16, 2013 1:11pm
Quoting stevexyg
Can I just say .

btw I'm determined to find time for this bit of study. Are we looking at EU EJ GU GJ or will EU suffice? Also are we taking rough notes or are you looking for a spread-sheet/pie chart?
Any pair is fine. Rough notes are good. Just want people to learn some things. You learn a lot by zeroing in on specific trade types and ignoring the ancillary bits. The questions to ask yourself are:

Can I make money on daily opens alone?
Can I make money on highs and lows alone?
Will I be better or worse off by adding the two together?
What's my hit rate?
How many trades should I be taking each day?
Should I take the first trade triggered or should I have a bias?

The purpose of the exercise is to gain confidence in whatever method you choose to trade. These are the types of questions I answer in developing my methods. This isn't the only thing I trade. I have gone through the same procedure of question and answer do validate everything I do. How can anyone trade anything they haven't tested thoroughly in this way?
  • #1,515
  • Mar 16, 2013 4:23pm Mar 16, 2013 4:23pm
[quote=snail69;6519349]Seneca, if you find a way to manage SL as small as possible.

Hi bud, if you are concerned about minimal stop loss perhaps you should not be trading or get a good trading strategy, i am being honest and i am sure you will get proficient, regards
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #1,516
  • Mar 16, 2013 4:50pm Mar 16, 2013 4:50pm
[quote=Seneca pilot;6519932]Any pair is fine. Rough notes are good. Just want people to learn some things. You learn a lot by zeroing in on specific trade types and ignoring the ancillary bits. The questions to ask yourself are:

Can I make money on daily opens alone?
Can I make money on highs and lows alone?
Will I be better or worse off by adding the two together?

How many trades should I be taking each day?

Regarding the above, (Can I make money on daily opens alone?) yes you can big time.
(Can I make money on highs and lows alone?) specialist method but yes.
(Will I be better or worse off by adding the two together?) specialist method, so do not do it.
Hit rate,,,, if you are gaining pips it is right.
(How many trades should I be taking each day?) Main lesson. the less you trade the less you lose. IF your triggers are met trade them.
(How many trades should I be taking each day?) the less you trade the less you lose. If your triggers are met trade them.

What SP is saying is good guide lines, do not deviate from the original thread, meaning it seems to be heading off into different directions from the original breakout method from opening thread.. It is now sounding very familiar to a book i read written a few years ago.

To the guys who ping me keep in touch and yes i do help a friend out by teaching people to trade. i will visit here every so often but just remember DO NOT THINK where the market will go, set your triggers and trade, Take care all ............
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #1,517
  • Mar 16, 2013 11:16pm Mar 16, 2013 11:16pm
Square,

This one might be suitable for you. You can set time as you like.
Attached File(s)
File Type: mq4 Daily_Open_Line mod-x.mq4   3 KB | 402 downloads
  • #1,518
  • Mar 17, 2013 5:04am Mar 17, 2013 5:04am
Thanks Snail69. I have PMed you.
  • #1,519
  • Mar 17, 2013 6:19am Mar 17, 2013 6:19am
Quoting snail69
Square,

This one might be suitable for you. You can set time as you like.
thanks, saves a lot of time when checking history charts.
  • #1,520
  • Mar 17, 2013 2:27pm Mar 17, 2013 2:27pm
The action on EU is scary. My money lies in Cyprus too. Am more than scared.

My broker is not even open now. On Friday, i went against my rules and did weekend trading. I spotted a BEP on the 15Min and went long at 1.3074, TP 1.3084 and SL at 1.3062. Glad, i included a stop loss. I wish i knew that it was a trap.
5 traders viewing now