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Ramblings of a Forex Junkie

  • #1,881
  • Mar 31, 2013 9:40pm Mar 31, 2013 9:40pm
Quoting Seneca pilot
I was simply wrong about the start time for UJ. I was attempting to use the same start time for UJ as I use for the European pairs euro and pound. The correct daily open for UJ is NY close. Small change means big difference in results.
I always see NY close as the day end. It is about GMT 22:00 (in winter), and it is very close to GMT 0:00 and there is little movement between 22:00 and 0:00. I believe it is the most popular range of time to use as day end. My FxPro broker in Cyrups are GMT +2, and so I don't need to do anything to shift my daily pivot in Mt4.
When I see you use other time as day end, I was puzzled.


Quoting Seneca pilot
I never said that. I don't mind a healthy debate. I learned a little about your and others' reasons for wanting a trade explorer. I don't necessarily agree that it is a big help in learning a method but I see some of your points.
Thanks SP
  • #1,882
  • Mar 31, 2013 9:53pm Mar 31, 2013 9:53pm
Quoting kk007
I always see NY close as the day end. It is about GMT 22:00 (in winter), and it is very close to GMT 0:00 and there is little movement between 22:00 and 0:00. I believe it is the most popular range of time to use as day end. My FxPro broker in Cyrups are GMT +2, and so I don't need to do anything to shift my daily pivot in Mt4. When I see you use other time as day end, I was puzzled.
Only for UJ.

Trust me I have tested this time for EU, GU, EJ, and GJ and the results were not good. I have very good reasons for the time i use on these pairs. The only other time that comes close to the same result is 00:00 GMT but it still isn't as good. I try to arrange my daily open two or three hours before the open of the market that has the greatest impact on the pair. Tokyo clearly has a giant impact on the yen. I can't believe I was so thick as to try to use the european start time on this pair for so long.
  • #1,883
  • Mar 31, 2013 11:43pm Mar 31, 2013 11:43pm
Quoting kk007
Hi SP, It seems that someone think the thread has been disturbed by some new comers. If you don't like posts of certain nature, please clarify... Otherwise, I don't think there is any problem for discussing something not orignally presented in the thread. On the other hand, I also want to ask people be polite when posting here. Finally, I think there is no logically reason to say The desire to look into the real performace = lazy to learn or looking for holy grail
You really need to pick something and stick with it. Stop hopping around.
What is any ocean but a multitude of drops?
  • #1,884
  • Mar 31, 2013 11:52pm Mar 31, 2013 11:52pm
Quoting Xhale
You really need to pick something and stick with it. Stop hopping around.
Just curious. What are you current sticking with?
As you said you have stopped trading choros, after concentrated for a few months.
  • #1,885
  • Mar 31, 2013 11:53pm Mar 31, 2013 11:53pm
Well the conversations have been fun tonite guys. I am going to sleep. Bank holidays across Europe and Uk again today. I don't gamble so I will be trading when everybody gets back to their terminals. I doubt there will be many US traders until later in the week as well. Spring break for the kids and lots of people vacationing this week and last.
  • #1,886
  • Apr 1, 2013 12:09am Apr 1, 2013 12:09am
Quoting kk007
Just curious. What are you current sticking with? As you said you have stopped trading choros, after concentrated for a few months.
I didn't stop trading it. It was through using CHOROS that I was able to develop my own style..... Instead of asking the thread starter question after question, I tested things out for myself and began to see the market through my own eyes. Which is ultimately what every trader must do. However your never going to get anywhere if you keep going from system to system.

SP has a good thread here (mainly due to its simplicity), but I assure you it is no more profitable than CHOROS, or a myriad of other techniques on this site and many others. The important thing is that you just plant your damn feet somewhere.
What is any ocean but a multitude of drops?
  • #1,887
  • Edited 4:47am Apr 1, 2013 12:35am | Edited 4:47am
Quoting Xhale
I didn't stop trading it. It was through using CHOROS that I was able to develop my own style..... Instead of asking the thread starter question after question, I tested things out for myself and began to see the market through my own eyes. Which is ultimately what every trader must do. However your never going to get anywhere if you keep going from system to system. SP has a good thread here (mainly due to its simplicity), but I assure you it is no more profitable than CHOROS, or a myriad of other techniques on this site and many others. The important...
I have spent more than 1000 hours on Dance/Choros across a few years. My conclusion about the method is, it does work (and yes through my own eye), but the success has been highly exaggerated, people keep posting winners and hiding losers. People also keep posting hindsight winners, as if they would have actually enter at real time. When you win, they say it is the success of the system (even the winners are against some basic rules of the system), and when you lose, they say it is your bad judgement or "you fail to develop your own style" (even you follow the basic rules of the system). Full of double standard on judging winners and losers, and hindsight talking. I know the method works, but I never know to what extent it works. No one knows.

Yes, the method there does not has the simplicity as the one here. You know if someone using a method, in which he marks a level beforehand, and tell he will fade the level (i.e touch trade, without "subjecting to price action at that level") with a definite SL and TP, no one can use "hindsight talking" to defence the losing of the method for a particular trade. On the contrary, with a method that requires consideration of 6-7 rules across multiple timeframes and using it with "your own style" real time discretion, it is hard to know the success or failure of the method. Especially, when people insist applying "positive thinking" in trading the method.

I have not stopped trading Dance/Choros, but the main problem is that there are very few by-the-rule setups sometimes. Even I completely stop using it, I am not sure if you can say I keep going from system and system, given I have already spent that amount of time. As I know you also study a number of different systems, so I am not sure if you are going from system to system. Btw, I thought you stopped Dance/Choros because of your post: http://www.forexfactory.com/showthre...01#post6484701. I do believe honesty is very important in trading, at least being honest to yourself. You can announce how big successful you are and post 100% winners on this forum and get 100+ Vouchers, at the end of the day it is completely up to you. Finally, perhaps it is not a thread that we should discuss how you and me trade personally, and it is my last reply on this issue here.
  • #1,888
  • Apr 1, 2013 4:45am Apr 1, 2013 4:45am
Quoting Seneca pilot
Only reason I did the myfxbook is that I am considering becoming an auto trade provider.
I'm catching up on the posts from Page 1, and got the impression that you trade mainly on TradeStation. How do you handle entries and exits on both TradeStation and MT4? If the MT4 account is to become the master for auto trade, then does it mean you will ONLY enter trades on MT4 and use TradeStation more as analysis platform? I know that TradeStation and MT4 can't link to each other or tandem order entry.
No longer trading forex. Looking for full time job.
  • #1,889
  • Apr 1, 2013 5:25am Apr 1, 2013 5:25am
Quoting mmaker
I'm catching up on the posts from Page 1, and got the impression that you trade mainly on TradeStation. How do you handle entries and exits on both TradeStation and MT4? If the MT4 account is to become the master for auto trade, then does it mean you will ONLY enter trades on MT4 and use TradeStation more as analysis platform? I know that TradeStation and MT4 can't link to each other or tandem order entry.
Mmaker, check post 22. It might help.
  • #1,890
  • Apr 1, 2013 7:36am Apr 1, 2013 7:36am
Quoting mmaker
I'm catching up on the posts from Page 1, and got the impression that you trade mainly on TradeStation. How do you handle entries and exits on both TradeStation and MT4? If the MT4 account is to become the master for auto trade, then does it mean you will ONLY enter trades on MT4 and use TradeStation more as analysis platform? I know that TradeStation and MT4 can't link to each other or tandem order entry.
Well you can mirror trades from Tradestation but it is complicated. I am currently looking for another broker that I like that uses MT4. I may go back to Oanda. I have considered Interactive Brokers and CITI pro as well but of course I will have the same problem with IB. Oanda is the broker I use for my test account and they have always been a good broker to me. When I got my account to a certain size I moved it to Tradestation because that was where I traded futures and I knew it was sound financially.

For the purposes of trade copying I will probably to move to a broker that has MT4. For now I just toggle back and forth and make the entries manually. I can enter in the main account and then make the entry in the MT4 within a few seconds. I don't like trading on MT4 because of the slow execution but it has improved over time. I still occasionally see nearly one second executions on some of my trades but maybe that is just the dealing desk thing and not solely due to the trade being placed on MT4. Even as a trade copy provider I still won't use my full funds. I will probably put in five thousand dollars after I have the required trade history. I am truly paranoid.
  • #1,891
  • Apr 1, 2013 7:43am Apr 1, 2013 7:43am
Thank you SP for a very fine thread. I am about half way through it, studying your posts and taking notes.

I also ended up missing the airline pilot window and ended up flyng Learjets for an air ambulance company. Never did figure out how to land Senecas well!
  • #1,892
  • Apr 1, 2013 8:10am Apr 1, 2013 8:10am
Quoting drloyd
Thank you SP for a very fine thread. I am about half way through it, studying your posts and taking notes. I also ended up missing the airline pilot window and ended up flyng Learjets for an air ambulance company. Never did figure out how to land Senecas well!
The newer ones have a much better landing quality. In the Seneca 1 I learned multi in you had to run the trim up in the flare or it took a huge pull in the yoke to get the wheel all the way back into your gut. Still with all that sometimes you would just plop down. It was a very hard airplane to develop a fine touch for. The best landing plane I ever flew was a cessna Grand Caravan. I and friend did some flying for a parachuting company and that thing was a joy to fly. We always had fun trying to plan the decent from 14500 to a landing without ever adding any power. Sometimes I would land with the stall horn blaring and just running out of elevator but the plane would always just settle in so soft and smooth. I am currently flying a twin commanche. There is another tough one to land well. It tends to want to land on the nose if you aren't careful. The landing gear is so short and the wing is so close to the ground that it will float for miles if you are a little fast.

I have been in a Lear 25. I knew the guy who operated a charter company with it. He flew passengers out of a larger airport but his maintenance provider was on the 3200 ft field where we flew the jumpers. He would always burn the gas down to min fuel and come in and out of there like the plane was made for it. Purely illegal on takeoff of course, no way to balance that field with that airplane. As far as I know that plane is now scrapped as he said he wouldn't spend the money to do the 12 year when it came due. I assume you are flying a 35. How do you like it?

Good times, thanks for the memory jog. Post often I'd rather talk flying than this crap any day.
  • #1,893
  • Apr 1, 2013 8:36am Apr 1, 2013 8:36am
Yes, the 35A. Very good aircraft though no aircraft is much fun for me when called out at 10 pm to fly all night. 4 am call outs were easier. I actually quit flying as my nutrition practice got too busy.
  • #1,894
  • Apr 1, 2013 8:43am Apr 1, 2013 8:43am
Quoting drloyd
Yes, the 35A. Very good aircraft though no aircraft is much fun for me when called out at 10 pm to fly all night. 4 am call outs were easier. I actually quit flying as my nutrition practice got too busy.
Had a friend who flew freight in a Cessna 402. He had an engine failure in the mountains and barely got the plane on the ground. Of course all his flying for that outfit was at night. After that experience he left them and went to work for a medical company flying a Lear 25d. They didn't have reversers just chutes. On one flight they touched down and the chute refused to deploy. Luckily they were in Denver and the runway was long enough to get stopped. After he left them he went to a med company in Florida. They had Citations and a Westwind. He called me weekly about their maintenance issues. Shortly after he left them the company was raided by the FSDO and their certificate was pulled. Did I mention that my friend was charmed.

The flying business can be just as slimy as this one. I still love it though. I never get to fly enough.
  • #1,895
  • Apr 1, 2013 8:59am Apr 1, 2013 8:59am
I flew a Caravan just once. It was a pre-hire check for a company that flies FedEx freight into smaller airports in the San Juan Islands. Great aircraft. They offered me the job but the air ambulance people also offered me a job flying Lears and a Citation 500 the same week. The Citation was easier to fly than the Seneca!

I have been asked to train an instrument instrument instructor so will have to dust off the CFMEII.
  • #1,896
  • Apr 1, 2013 9:02am Apr 1, 2013 9:02am
Quoting drloyd
I flew a Caravan just once. It was a pre-hire check for a company that flies FedEx freight into smaller airports in the San Juan Islands. Great aircraft. They offered me the job but the air ambulance people also offered me a job flying Lears and a Citation 500 the same week. The Citation was easier to fly than the Seneca! I have been asked to train an instrument instrument instructor so will have to dust off the CFMEII.
Have fun.

Helicopters are my true passion. If I can get some time after the twins get a little older that is my next rating to add to the certificate. I wanted to fly in the ARMY but my right eye is not 20/20 and the need for pilots at the time I was in was low so no waiver. Stop by and talk flying any time.

Chris
  • #1,897
  • Apr 1, 2013 11:07am Apr 1, 2013 11:07am
Thank you Chris. Perhaps I will tell about my nearest brush with death sometime.

Up to page 80. Was very happy to see the arrival of the H4/weekly lines method and was sad to see it go.

Off to work.

Richard
  • #1,898
  • Apr 1, 2013 11:59am Apr 1, 2013 11:59am
Quoting drloyd
Thank you Chris. Perhaps I will tell about my nearest brush with death sometime. Up to page 80. Was very happy to see the arrival of the H4/weekly lines method and was sad to see it go. Off to work. Richard
It is still perfectly viable. I just have a rather short attention span.
  • #1,899
  • Apr 1, 2013 2:23pm Apr 1, 2013 2:23pm
I was obsessed with flying from an early age but my parents told me my mathes was too retarded to even think of becoming a pilot! So, living in the country and aged 13 I went about building my own with a friend in his haybarn. It was basically a stick and string microlight looking thing. We'd ride our bikes for hours to the nearest airfeild and search for discarded bits (propellers etc) and haul them back. I made the landing skid at my school's wood working class. It began taking shape and we where planning to use a grass runway that was fasioned down a steep hill that the local top dressing planes used. Sadly my mate's family left just before completion and we couldn't finish it off. Someday someone will come across our creation and think they've stumbled across an early pioneer's attempt at flight I reckon! Happy days....
  • #1,900
  • Apr 2, 2013 3:11am Apr 2, 2013 3:11am
Good thread, subscribing.
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