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Mastering the Art of Trading

  • #641
  • Sep 14, 2013 11:59pm Sep 14, 2013 11:59pm
Quoting KOS-fx
Guys, I am going to see past behaviors of fake out set ups mainly on daily time frames.... (I have never done a systematic back testing before ) I have good faith in this method and I see this is very much suite to my life style. I am ready to do my home work and want to put some effort on Forex trading. I do not have experience with J16 method but I can understand what ghouse teaches here... and Pin bar also highlighted that information available in this thread is what all need for Novice trader to be profitable... I have two question for the...
I recommend you read the first 200 pages of the J16 thread. Shouldn't take that long.

Also, why back test it when you can open a demo and forward test it in real time?
It may take 3 months but, it is better than backtesting IMHO.
  • #642
  • Sep 15, 2013 12:47am Sep 15, 2013 12:47am
Quoting ghous
{quote} I am not sure why do we have to weigh the chances of this setup working out or not right now with limited information? Looking up at the sky, what are the chances that it will rain today? Well, yeah you can look at the white clouds and clear skies and say "nada" but would that be an answer you can be confident with? Or would you require visiting a website like weather.com first to study the forecast and then say NADA with more confidence? Its all about processing as much information as you possibly can before you make a decision. Here,...
lol chill out man. Sorry if that was inexperienced of me but I am still learning and that was total curiosity. You could have just replied like you replied to @pinbar cause that was the answer that I needed. Anyway thanks, will try to arrange my words better the next time I discuss about trade setups.
  • #643
  • Sep 15, 2013 1:52am Sep 15, 2013 1:52am
Quoting KOS-fx
Guys, I am going to see past behaviors of fake out set ups mainly on daily time frames.... (I have never done a systematic back testing before ) I have good faith in this method and I see this is very much suite to my life style. I am ready to do my home work and want to put some effort on Forex trading. I do not have experience with J16 method but I can understand what ghouse teaches here... and Pin bar also highlighted that information available in this thread is what all need for Novice trader to be profitable... I have two question for the...
Hey KOS,

Yeah I'd recommend that you at least go through the first 150-200 pages of the James16thread. It goes a long way in making sure you have your grip around the idea of side to side support and resistance.

With regards to back testing this method, by all means go for it, just make sure that you take your charts far off to the left and work forwards from there possibly using the "f12" key to make sure you see the result to a trader after you analyze it. Working backward (as a lot of people tend to do) in my opinion is just totally futile as there is no way its humanly possible to avoid being influenced by the result that you see.

All the best,

g.
I believe . . .
  • #644
  • Sep 15, 2013 1:54am Sep 15, 2013 1:54am
Quoting Pinbar
{quote} I recommend you read the first 200 pages of the J16 thread. Shouldn't take that long. Also, why back test it when you can open a demo and forward test it in real time? It may take 3 months but, it is better than backtesting IMHO.
I don't think he was comparing the two means of testing. Of course if you've got to do one of the two forward testing is way superior, but back testing along with forward testing isn't a bad idea

g.
I believe . . .
  • #645
  • Sep 15, 2013 1:57am Sep 15, 2013 1:57am
Quoting needtolearn
{quote} lol chill out man. Sorry if that was inexperienced of me but I am still learning and that was total curiosity. You could have just replied like you replied to @pinbar cause that was the answer that I needed. Anyway thanks, will try to arrange my words better the next time I discuss about trade setups.
Apologies if I sounded harsh or a little too oppressive. That wasn't the idea AT ALL.

I am never offended nor irritated by any questions directed at me, advanced or basic. Essentially I was emphasizing on the importance of making informed decisions/judgments as opposed to shooting in the dark.

g.
I believe . . .
  • #646
  • Sep 15, 2013 2:24am Sep 15, 2013 2:24am
Quoting ghous
{quote} Apologies if I sounded harsh or a little too oppressive. That wasn't the idea AT ALL. I am never offended nor irritated by any questions directed at me, advanced or basic. Essentially I was emphasizing on the importance of making informed decisions/judgments as opposed to shooting in the dark. g.
Okay . I will try to make all points clear from now as much as I can and hope I will gain more experience so that I can give more clear decisions for discussion
  • #647
  • Sep 15, 2013 12:13pm Sep 15, 2013 12:13pm
This is XAUUSD, Daily.
What about? Not much space in effect, R:R is about 1:1.
Attached Image (click to enlarge)
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  • #648
  • Sep 15, 2013 12:40pm Sep 15, 2013 12:40pm
Quoting Dr_Zulu
This is XAUUSD, Daily. What about? Not much space in effect, R:R is about 1:1. {image}
i would rather consider the lower swing for a lls.
Attached Image (click to enlarge)
Click to Enlarge Name: xauusddaily_1509.png Size: 47 KB
meine augen sind die sterne
  • #649
  • Sep 15, 2013 12:44pm Sep 15, 2013 12:44pm
Quoting Dr_Zulu
This is XAUUSD, Daily. What about? Not much space in effect, R:R is about 1:1. {image}
Hey there,

Could you mark out the swing low point on the chart that you used for that LLS?

g.
I believe . . .
  • #650
  • Sep 15, 2013 12:52pm Sep 15, 2013 12:52pm
Quoting ghous
{quote} Hey there, Could you mark out the swing low point on the chart that you used for that LLS? g.
Sure, it's the low from 16 April:
Attached Image (click to enlarge)
Click to Enlarge Name: xauusddaily_1509.png Size: 26 KB
  • #651
  • Sep 15, 2013 1:12pm Sep 15, 2013 1:12pm
Quoting Dr_Zulu
{quote} Sure, it's the low from 16 April: {image}
It has been "drained out" by the action later on as price went through and across it on both sides.

Your LLS/HHR needs to be the price level that hasn't been tested AT ALL since the time that price first bounced off of it to create the swing point.

The low Aser pointed out is a valid LLS point as you can see price has yet to test that low for the first time after creating it.

hope this is clear.

g.
I believe . . .
  • #652
  • Sep 15, 2013 1:20pm Sep 15, 2013 1:20pm
Quoting ghous
{quote} It has been "drained out" by the action later on as price went through and across it on both sides. Your LLS/HHR needs to be the price level that hasn't been tested AT ALL since the time that price first bounced off of it to create the swing point. The low Aser pointed out is a valid LLS point as you can see price has yet to test that low for the first time after creating it. hope this is clear. g.
Perfectly, Thanks!
  • #653
  • Sep 15, 2013 1:27pm Sep 15, 2013 1:27pm
Here we have more than 1000 pips trade ( may be more)

Guys you will be needed only one trade this kind to make whole quarter....
Attached Image (click to enlarge)
Click to Enlarge Name: eurusddaily.png Size: 46 KB
80% effort, 20% luck
  • #654
  • Sep 15, 2013 1:42pm Sep 15, 2013 1:42pm
Quoting Pinbar
{quote} I recommend you read the first 200 pages of the J16 thread. Shouldn't take that long. Also, why back test it when you can open a demo and forward test it in real time? It may take 3 months but, it is better than backtesting IMHO.
Thank you very much for your advice....

I open a demo account with Fx - Pro which is dedicated for GFX Trading....
80% effort, 20% luck
  • #655
  • Sep 15, 2013 1:48pm Sep 15, 2013 1:48pm
Quoting ghous
{quote} Hey KOS, Yeah I'd recommend that you at least go through the first 150-200 pages of the James16thread. It goes a long way in making sure you have your grip around the idea of side to side support and resistance. With regards to back testing this method, by all means go for it, just make sure that you take your charts far off to the left and work forwards from there possibly using the "f12" key to make sure you see the result to a trader after you analyze it. Working backward (as a lot of people tend to do) in my opinion is just totally...

Thanks g.

I am not going to compare this method with J16....

I want to be more discipline trader now... I will try to strict to GFX trading method at least for 3 months and evaluate my progress.

both forward and back testing in progress...

F12 trick is working very well...

Kosala
80% effort, 20% luck
  • #656
  • Sep 15, 2013 4:26pm Sep 15, 2013 4:26pm
Pls wht abt this...
Attached Image (click to enlarge)
Click to Enlarge Name: Which is Support.png Size: 34 KB
  • #657
  • Sep 15, 2013 8:04pm Sep 15, 2013 8:04pm
NZD/SGD set up
Attached Image (click to enlarge)
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80% effort, 20% luck
  • #658
  • Edited 11:48pm Sep 15, 2013 11:28pm | Edited 11:48pm
Yeah, I have had my eye on it.
Let's see how it closes.

Edit: If it closes near the FTA where it is right now, I take it you will look for a pullback to the level, on the Daily TF??

No, H4 or H1 triggers to watch for?
Attached Image (click to enlarge)
Click to Enlarge Name: nzdsgddaily.png Size: 62 KB
  • #659
  • Sep 16, 2013 1:03am Sep 16, 2013 1:03am
Quoting KOS-fx
Here we have more than 1000 pips trade ( may be more) Guys you will be needed only one trade this kind to make whole quarter.... {image}
Hey KOS,

Where your FTA is too close to allow for sound trade management, its always a good idea to defer the entry till you get a move through the FTA.

Attached Image (click to enlarge)
Click to Enlarge Name: eu.png Size: 33 KB


g.
I believe . . .
  • #660
  • Sep 16, 2013 1:14am Sep 16, 2013 1:14am
Quoting pipslearner1
Pls wht abt this... {image}
hey pipslearner,

You drew the LLS wrong. Refer to the chart below. Also buying straight off of the region you pointed out, is a risky proposition because of all the trouble up above. More thoughts on the chart.

Attached Image (click to enlarge)
Click to Enlarge Name: en.png Size: 36 KB


g.
I believe . . .
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