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All Indicators Trading system

  • #1,161
  • Jul 8, 2013 11:54am Jul 8, 2013 11:54am
Quoting eur usd
http://www.forexfactory.com/showthread.php?t=436150

oh my god !!!!!!!!!!!

what's going on in this world ?????

  • #1,162
  • Jul 8, 2013 2:37pm Jul 8, 2013 2:37pm
Quoting tafadzwa02
Does it always , Hit my stop then went straight down after ranging for 7 slid hours .Why is this ALWAYS happening ? whenever I think , let me move my stop a little , it pursues me till it hits e .I got no chance with this thing , I tell you
You got no chance for a sustainable growth of capital until you respect "Risk Management." Just my 2 cents mate.
Fear prevent possibilities, and so does Greed
  • #1,163
  • Jul 8, 2013 2:44pm Jul 8, 2013 2:44pm
Quoting xtrader101
{quote} You got no chance for a sustainable growth of capital until you respect "Risk Management." Just my 2 cents mate.
I have an average risk of 3.9% per trade , that's where I have settled , if you look at the attached spreadsheet , you will notice that i will start the 2% risk risk when I start doing this full time next year- - 2 cents
BTW.I am on £3.40 per pip this week OR 3.9% risk as usual , I am marching on .
Attached File(s)
File Type: xls Actual Vs Projection-Week Commencing 07-06-2013.xls   310 KB | 174 downloads
  • #1,164
  • Jul 8, 2013 7:22pm Jul 8, 2013 7:22pm
Keep your risk in check
Keep your emotions, especially revenge trades, in check

Most likely you'll get there as I think your system works. I only said "most likely" because in this business, there is no guarantee.

If you're getting nervous or excited when a certain amount of money is on the table, it just mean one thing, your emotions is highly attached to the trade, which will be detrimental to your performance.
Fear prevent possibilities, and so does Greed
  • #1,165
  • Jul 9, 2013 2:45am Jul 9, 2013 2:45am
Quoting xtrader101
Keep your risk in check Keep your emotions, especially revenge trades, in check Most likely you'll get there as I think your system works.
I think I have improved a bit on that point and thanks for noticing that my system works .I have been saying this for months and people do not seem to get the point

Quoting xtrader101
I only said "most likely" because in this business, there is no guarantee.
I strongly disagree.I think , once you master the art , and I believe I have , then you are set for life


Quoting xtrader101
. If you're getting nervous or excited when a certain amount of money is on the table, it just mean one thing, your emotions is highly attached to the trade, which will be detrimental to your performance.
This is easier said than done though .I think It is hard not to be attached to your trade once you get in .You have hopes and expectations and that will be influenced by every move on that trade , especially a retracement .
The bottom line is knowing that
a.You win some and lose some.
b.When you lose , make sure its not the whole account
c.When you win , then the wins must cover for the losses

Once this aspect is mastered , I think emotionally you become a bit stable
  • #1,166
  • Jul 9, 2013 4:41am Jul 9, 2013 4:41am
Quoting tafadzwa02
Does it always , Hit my stop then went straight down after ranging for 7 slid hours .Why is this ALWAYS happening ? whenever I think , let me move my stop a little , it pursues me till it hits e .I got no chance with this thing , I tell you
You think I am just making this up , just check on today's low on USDJPY and you see where my stop was hit and you will understand my pain.
I was hit by less than a pip
  • #1,167
  • Jul 9, 2013 9:12am Jul 9, 2013 9:12am
http://www.forexfactory.com/forexsaint#23-list+pg6

you thought my discipline was bad , this guy lost everything in one day
  • #1,168
  • Jul 9, 2013 10:31am Jul 9, 2013 10:31am
Quoting tafadzwa02
http://www.forexfactory.com/forexsaint#23-list+pg6 you thought my discipline was bad , this guy lost everything in one day
look at his second account then - he made over 6k within few weeks
On my way to financial independence - if others can do it - I can do it
  • #1,169
  • Jul 10, 2013 5:11am Jul 10, 2013 5:11am
I know very soon I will be having endless emails and questions about my system .

Here is a clue

1.Master one particular system - any time frame

2.Gather statistics about that system

3.Check for the most extreme cases where it does something

4.Check for the most extreme cases where it does NOT do something

5.Trade ONLY those extreme cases .

e.g

I use Bill Willliams Chaos Theory as my base system

I have derived 24 signals from this system

My most profitable one is Signal 3

This signal goes as follows

I have noticed that every time there is a strong trend , there is a period where the market just ranges between two points -

If its an uptrend on 15 Min when it starts to reverse , DO NOT SELL,wait for it to bounce at a pivot point and then BUY it until the sell signal is invalidated

That's all you need .

Good Luck , I won't be doing any more tips
  • #1,170
  • Jul 10, 2013 9:50am Jul 10, 2013 9:50am
3% profit a day is a good performance. you don't need more, you just need it every day
anyway don't get too cocky and overconfident, it will loose you. good luck ;-)
On my way to financial independence - if others can do it - I can do it
  • #1,171
  • Jul 10, 2013 11:33am Jul 10, 2013 11:33am
Quoting Eur Usd
3% profit a day is a good performance. you don't need more, you just need it every day anyway don't get too cocky and overconfident, it will loose you. good luck ;-)
I wish I could get this EVERYDAY lol.I have targets for the week , i.e only 85 pips that's about 17 pips per day , if it was easy , trust me I would be a millionaire by now
  • #1,172
  • Jul 10, 2013 11:43am Jul 10, 2013 11:43am
3% a day is not much imo if you have time for trading. it is less than 30 pips in my case.
I am coming back on a good track, but had to read dance manual again and again, and I understood that I need to do it on regular basis, as if I don;t read it I start changing the rules slightly, slowly but over 8 weeks it changes too much. today I did 5%, what I also need to do is to focus more on EUR/USD, last time I was focused on EUR/JPY, from now on I'll treat EUR/JPY as secondary pair
On my way to financial independence - if others can do it - I can do it
  • #1,173
  • Jul 10, 2013 1:21pm Jul 10, 2013 1:21pm
  • #1,174
  • Jul 10, 2013 1:56pm Jul 10, 2013 1:56pm
Quoting tafadzwa02
what?

you didn't loose did you?
On my way to financial independence - if others can do it - I can do it
  • #1,175
  • Jul 10, 2013 4:25pm Jul 10, 2013 4:25pm
I thought your maximum risk is 4.5%.
Fear prevent possibilities, and so does Greed
  • #1,176
  • Jul 10, 2013 4:30pm Jul 10, 2013 4:30pm
Quoting xtrader101
I thought your maximum risk is 4.5%.
the spread is too high , like 20 , so i am a bit confused , don't know why Alpari is doing this .I HAVE PANICKED
  • #1,177
  • Jul 10, 2013 4:35pm Jul 10, 2013 4:35pm
I had a short trade of GBPAUD in my other account at 1.64 then I put at BE+10 and then went for a smoke when it was 1.63 only to came back that my SL was hit. There is a news right before the closing that's why the spread was wide, but it is back to normal now.

I'm not saying that close your trade now, what i'm saying is that your current open trade is breaking your risk management again.
Fear prevent possibilities, and so does Greed
  • #1,178
  • Jul 10, 2013 5:04pm Jul 10, 2013 5:04pm
Quoting xtrader101
I had a short trade of GBPAUD in my other account at 1.64 then I put at BE+10 and then went for a smoke when it was 1.63 only to came back that my SL was hit. There is a news right before the closing that's why the spread was wide, but it is back to normal now. I'm not saying that close your trade now, what i'm saying is that your current open trade is breaking your risk management again.
I know , am a bit confused , I am not exactly sure what to do , earlier in the day I had a buy on USDJPY - It had 50 pips profit at some point and was confused again whether to close or not .If I had done that , I would have hit my weekly target .Now I entered the trade , wasn't sure where to put the stop , so decided to put 6% risk , now I am not sure what to do exactly , I think I should just avoid trading around news coz it just messes up my trading strategy
  • #1,179
  • Jul 10, 2013 5:16pm Jul 10, 2013 5:16pm
just to share my opinion. good point to short EUR/USD. at 1.3022:
on m15 I see triple top after quite a long run up
on 4hr chart I see it touches 200EMA at 1.3022
and R1 of 4hr pivot is at 1.3022 as well, so quite a good confluence - we'll see how it goes

edit: I even see now double top creating on 1h chart - looks as good point to reverse about 30 pips or so
edit: it went thru, fake signals, 2% lost ;-)
On my way to financial independence - if others can do it - I can do it
  • #1,180
  • Jul 10, 2013 5:21pm Jul 10, 2013 5:21pm
Quoting tafadzwa02
I think , once you master the art , and I believe I have , then you are set for life
.

If you're confused with your trade, you haven't mastered the art yet. You still have a long way young padawan. Not saying that I do master the art myself.
Fear prevent possibilities, and so does Greed
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