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Help Me Establish The GbpUsd After Dinner Club 40 replies

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The Club!

  • #7,081
  • Sep 7, 2013 8:20am Sep 7, 2013 8:20am
Quoting infinitus
{quote} But with the outlook for US economy I strongly disagree:
Quoting infinitus
{quote} Hi PT, definitively (red marked above) right. When you are cornered in (I mean the FED), you have to create your own reality to save your face. Besides of that, to say from one Elliottican to another: their fate is already visible in the EW structures :nerd:
l
Great posts. Times like these are when "funnymental" traders can lose their shirts. The technicals are never wrong, only some people's interpretation of them are.
  • #7,082
  • Sep 7, 2013 9:54am Sep 7, 2013 9:54am
Quoting Delta1One
{quote} Great! I'm completely xls & vbe addicted as well. No remedy will never get me out of it at this stage. But....did you mean your algo is running on xls and is feeding somehow TRADING execution on your account ???? You're getting me highly interested here...
that is correct
90% of people, are wrong about 90% of everything, 90% of the time...
  • #7,083
  • Sep 7, 2013 3:12pm Sep 7, 2013 3:12pm
Quoting Ambar
{quote} This Elliotwave is before NFP reaction, as the price has touched the 98.50.. ¿ so now ???
Attached Image
Those who say it cannot be done should not interrupt those who are doing it
  • #7,084
  • Sep 7, 2013 3:30pm Sep 7, 2013 3:30pm
Quoting theDHT
{quote} that is correct
Well, would you please mind elaborating a bit further about how your xls is pushing order execution into your MT4?
And by the way, how is this interaction is working? (what's the communication flow/scheme you have in place between your MT4 and xls)

I've been reading a bit about DLL's but what I don't like is that it is MT4 that will decide to import data by calling a function. And if the call for an imported function failed, it sounds like hell to overcome "programmatically". (at first sight)

My goal is quite simple. I want MT4 to feed xls with live data I need from MT4 (price, spreads,etc...and any value from any specific indi - it seems that DDE is okay for that) and then have my xls replying to MT4 with order execution parameter, decided by xls on its own, assuming any action is required off course. On that, I also need a reply from MT4 with identification of transactions successfully operated, just for xls to keep in mind listing of active floating positions.

Thks for your reply
  • #7,085
  • Edited 4:17pm Sep 7, 2013 4:04pm | Edited 4:17pm
The key to longevity in this business is first and foremost capital preservation.

The majority of trades result in small wins and small losses.

A large percentage of trading profits will come from a small percentage of the trades.

A trader can’t predict in advance that the market is ready to give a better then expected gain.

Self-study is just as important to successful trading as is the study of price behavior or technical analysis.

I miei 2 centesimi.
Wherever you go, there you are.
  • #7,086
  • Sep 7, 2013 4:58pm Sep 7, 2013 4:58pm
Quoting milam
The key to longevity in this business is first and foremost capital preservation. The majority of trades result in small wins and small losses. A large percentage of trading profits will come from a small percentage of the trades. A trader can’t predict in advance that the market is ready to give a better then expected gain. Self-study is just as important to successful trading as is the study of price behavior or technical analysis. I miei 2 centesimi.
Hey Milam,

I agree capital preservation is a nice concept. However trading is war. You fight.

Capital preservation is key words for pension funds, institutional funds, etc... all of these stuffs with return as high as 3% a year, where you need 100 years to pay a cup of tea when you'll retire, since inflation will have wiped out the little buying power delivered at end of such capital preservation plan. But okay, always good, since a few peanuts are always better than a big nothing, assuming GOVT doesn't cut more into.

War means you go and you shot. You need to be definitely sure of what you're doing or it's your account that got shot down.
I would say that key is to take exposure exclusively in situation you'll get out as a winner, or if you fail, you won't fail in exactly sharply predicting what you may loose and STICK to that. Because you know you have the capacity to re-build it quick. Your recovery rate should define your exposure to losses. A plan should be based on your real trading capacity and history. That helps to fine tune your risk exposure based on realistic own true statistics.

I would say capital preservation is a good concept when you select a fund to invest in, with legal binding 100% capital preservation specific mentions. If you have opened your own trading account, then I assume it means you expect to perform better.

For example, a money management plan could be something like the below:
Attached Image
  • #7,087
  • Sep 7, 2013 5:07pm Sep 7, 2013 5:07pm
Off course you have to scale the daily / weekly limit as per your trading account size.

It means if you have made too much losses during 1 day/week, you stop. Do charting, go reading, increase your knowledge, document why your plan failed.

Scale this table to your own capacity.

What I like in this table are the RATIO between maximum losses authorized and winnings targets.

With such things you have a plan telling you exactly when to stop.

Remember: sometime it is that "one too much" trade you should not have taken that will wipe out your hard work.
So when target is achieved, no need to stay in the air and become someone's else target, get away and land down to safe area for some well deserved rest.

Cheers,
  • #7,088
  • Edited 5:54pm Sep 7, 2013 5:34pm | Edited 5:54pm
Quoting Delta1One
{quote} Hey Milam, I agree capital preservation is a nice concept. However trading is war. You fight. {image}
No war, no fight, fight against who? You only can fight against yourself in trading.

A trader needs to flow, to feel, to observe himself during different outcomes....He needs to take trades with little anxiety.

Fundamental and Technical are things of the past in my view, nowadays it is all about mind.

You can have 20 consecutive losing trades in this business and still make money, but how many of us can overcome that drawdown? Very few in my view. Why? Becuase we spend so much time gaining what with believe is "knowledge" to conquer the "market".

There is not market to conquer, we can only conquer ourselves, instead of doing that, we tame our fears by "acquiring more knowledge" thinking that we will beat it with concepts which makes us only prisoner. Why do we do that?

Because it is fucking difficult to conquer ourself but in my view it is the only way.

Cheers
Wherever you go, there you are.
  • #7,089
  • Sep 7, 2013 5:39pm Sep 7, 2013 5:39pm
Quoting milam
{quote} No war, no fight, fight against who? You only can fight against yourself in trading. A trader needs to flow, to feel, to observe himself during different outcomes....He needs to take trades with little anxiety.

Just because you are at war, does not mean the warrior does not have a calm, peaceful mind.

Mushin.
The world you desire can be won. It exists.. it is real.. it is possible..
  • #7,090
  • Sep 7, 2013 6:11pm Sep 7, 2013 6:11pm
Quoting Mr. Scott
{quote} Just because you are at war, does not mean the warrior does not have a calm, peaceful mind. Mushin.
So true.

But how do we reach a calm peaceful mind at "war'?

milam
Wherever you go, there you are.
  • #7,091
  • Sep 7, 2013 7:12pm Sep 7, 2013 7:12pm
Quoting milam
{quote} So true. But how do we reach a calm peaceful mind at "war'? milam
how do we reach a calm peaceful mind at "war'? Obvious. Same reason why you started it: By thinking about all the green pip$$ you'll make and with how much ease you'll recover from your little defeats

You reach peace in mind because you have set a plan and whatever can happen, you have set what to do.

The peace in mind comes from the fact (the only fact) you TRUST you'll stick to your own battle plan. (and not from your plan whatever it is and how good or poor it actually is has actually no matter in that)

If you fail to comply with your own plan, you become a betrayer acting against yourself. Once your inner infinite intelligence start to consider yourself as a traitor, you're no longer to benefit from its logistical support.

From that point, stop trading, and reconquer yourself before stepping back in the arena. Do something else you're good at and that is good for you in order to reconquer your inner intelligence and set it back to work at your plans.

You actually already had the answer to your own question Milan I can see by reading again what you wrote: conquer ourself -> reach a calm peaceful mind
  • #7,092
  • Sep 7, 2013 7:40pm Sep 7, 2013 7:40pm
priceless
Quoting milam
The key to longevity in this business is first and foremost capital preservation. The majority of trades result in small wins and small losses. A large percentage of trading profits will come from a small percentage of the trades. A trader can’t predict in advance that the market is ready to give a better then expected gain. Self-study is just as important to successful trading as is the study of price behavior or technical analysis. I miei 2 centesimi.
Self-study is just as important to successful trading as is the study of price behavior or technical analysis.

priceless...
  • #7,093
  • Edited 9:54pm Sep 7, 2013 7:50pm | Edited 9:54pm
Quoting Delta1One
{quote} how do we reach a calm peaceful mind at "war'? Obvious. Same reason why you started it: By thinking about all the green pip$$ you'll make and with how much ease you'll recover from your little defeats You reach peace in mind because you have set a plan and whatever can happen, you have set what to do. The peace in mind comes from the fact (the only fact) you TRUST you'll stick to your own battle plan. (and not from your plan whatever it is and how good or poor it actually is has actually no matter in that) If you fail to comply with...
YES, we need to have a plan, things will go wrong and we need to be prepared for that with ease because is the cost that we are paying to learn about ourself and by searching for something else that sits outside us, will be wrong and make the struggle more difficult. Beside the mind will start to think that the more knowledge we gain the solution will come closer but only much more energy will be consuming in directional proportional to frustration until we will act in a destroy manner to find some relief.

Lets be frank, the knowledge of what? Of what has worked for others, yes, but we are not them, and nobody else is.

Trading need to fit with our personality, otherwise it will not work, I can guaranteed that.

So, it is essential that one works towards himself to find a way of trading that reflects his personality and availability towards the market and not work towards some exterior factors that are very well marketed because that is the only way they can make profit.
Wherever you go, there you are.
  • #7,094
  • Edited Sep 8, 2013 4:11am Sep 7, 2013 11:37pm | Edited Sep 8, 2013 4:11am
Is the GBP about to crash? (Forex analysis 09-08-13)

Inserted Video
  • #7,095
  • Sep 8, 2013 3:39am Sep 8, 2013 3:39am
Quoting twrayner
Is the GBP about to crash? (Forex analysis 12-07-13) http://www.youtube.com/watch?v=TBMz35eseAk
Those who say it cannot be done should not interrupt those who are doing it
  • #7,096
  • Sep 8, 2013 4:10am Sep 8, 2013 4:10am
Quoting Delta1One
{quote} Well, would you please mind elaborating a bit further about how your xls is pushing order execution into your MT4? And by the way, how is this interaction is working? (what's the communication flow/scheme you have in place between your MT4 and xls) I've been reading a bit about DLL's but what I don't like is that it is MT4 that will decide to import data by calling a function. And if the call for an imported function failed, it sounds like hell to overcome "programmatically". (at first sight) My goal is quite simple. I want MT4 to feed...

Delta,

I am of the philosophy that you should teach a man to fish, rather than feed them the fish... so i will say to you:

the DDE route that you are exploring is absolutely the correct way forward... keep pushing your R&D, and you will have your eureka moment soon enough! and then you will realize (like I did), that "there is no spoon"...

There is a tonne of material online that you can use as reference to get the job done...

Best of luck!

I would add, that once you get this done, you will see that it was the cornerstone... the real work begins after
90% of people, are wrong about 90% of everything, 90% of the time...
  • #7,097
  • Sep 8, 2013 4:32am Sep 8, 2013 4:32am
Quoting twrayner
Is the GBP about to crash? (Forex analysis 09-08-13) http://www.youtube.com/watch?v=TBMz35eseAk

thanks!
90% of people, are wrong about 90% of everything, 90% of the time...
  • #7,098
  • Edited 6:29am Sep 8, 2013 4:56am | Edited 6:29am
hello fellow traders,

further to our discussions related to the recent naval build up in the Mediterranean, i came across this clip, and found it interesting,

it sheds some light on the Chinese dimension...

hope it you also find it to be value accretive...

cheers!

part1:

Inserted Video


part2:
Inserted Video
90% of people, are wrong about 90% of everything, 90% of the time...
  • #7,099
  • Sep 8, 2013 5:30am Sep 8, 2013 5:30am
Quoting theDHT
.... it sheds some light on the Chinese dimension...
Recent piece on ZH regarding potential outcomes in the event that China (& Russia) then dumped their bonds. http://www.zerohedge.com/news/2013-0...-world-turn-us
  • #7,100
  • Sep 8, 2013 6:18am Sep 8, 2013 6:18am
Quoting milam
{quote} So true. But how do we reach a calm peaceful mind at "war'? milam

Hehehe, easy question:

let others fight your war
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