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Professional Trading Strategy - student selection

  • #201
  • Feb 6, 2014 3:24am Feb 6, 2014 3:24am
Support and resistance exist because of people memories. Our memories prompt us to buy and sell at certain levels
This was rightly said in the book 'Trading for a living ' by Dr. alexander
support and resistance exist because of masses of traders feel pain and regret. trader who hold losing position feel intense pain. losers
are determined to get out as soon as the market gives them the second chance. traders who missed an oppurtunity feel regret and also wait for the market to give them a second chance.Feeling of pain and regret are mild in trading ranges where swings are small and losers do not get hurt too badly. breakout from trading ranges create intense pain and regret
Example
When the market stays flat for a while , traders get used to buying at the lower edge of the range and shorting at the upper edge. In uptrends, bears who sold short feel pain and bulls feel regret that they did not buy more. Both feel determined to buy if the market gives them a second chance. the pain of bears and regrets of bulls make them ready to buy, creating support during reactions in an uptrend
Resistance- Vice versa
In my experiance, first test of support or resistance works most of the time.
  • #202
  • Feb 6, 2014 3:39am Feb 6, 2014 3:39am
Have u begun to add people to Skype? I am just curious, as others maybe, if my email has gotten through. Also even if we are not chosen as students could u please recommend some threads to read or a user whose posts we should read. U said a few good ones have been chased away by trolls but posts should still exist. Would greatly be appreciated.
  • #203
  • Feb 6, 2014 3:56am Feb 6, 2014 3:56am
The only strategy that i found solid without using indicator is this specific patetrn.
We have to find a solid support or resistence zone where can be plotted a trend line. At the break of the trend line we have a signal.
When occur and if we do the right analisys it have 90% affidability. What do you think Exchange101?
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: eurusdh11.png Size: 67 KB
  • #204
  • Feb 6, 2014 12:19pm Feb 6, 2014 12:19pm
Quoting exchange101
How about now? What does the image represent? {image}
Price was in a channel until it broke through the channel to the downside. After breaking through,
price moved up and the support line became the resistance line.
  • #205
  • Feb 6, 2014 12:37pm Feb 6, 2014 12:37pm
Quoting vamp
Have u begun to add people to Skype? I am just curious, as others maybe, if my email has gotten through. Also even if we are not chosen as students could u please recommend some threads to read or a user whose posts we should read. U said a few good ones have been chased away by trolls but posts should still exist. Would greatly be appreciated.
Hello vamp,

My health problems have stopped me from starting the next step, which is adding all of you guys (and gals if any) to Skype list.
Don't worry, I always keep my word and promises.
After I add you all to Skype, I will post here a list (with your approval of course) with FF usernames so you can know if I missed any of you.

I bet many of you read the threads I am talking about. Puzzle pieces all around. I admit that is very hard to put the puzzle all together.

Have a good one!
  • #206
  • Feb 6, 2014 12:39pm Feb 6, 2014 12:39pm
Quoting dasio
The only strategy that i found solid without using indicator is this specific patetrn. We have to find a solid support or resistence zone where can be plotted a trend line. At the break of the trend line we have a signal. When occur and if we do the right analisys it have 90% affidability. What do you think Exchange101? {image} {image}
I like the way you are thinking. There are also others that posted here that I very much appreciate your logic.

If the puzzle was made of 1000 pieces, Dasio, you have, let's say 1. A good start though.

Have a good one!
  • #207
  • Feb 6, 2014 12:40pm Feb 6, 2014 12:40pm
Quoting vijai_701
Support and resistance exist because of people memories. Our memories prompt us to buy and sell at certain levels This was rightly said in the book 'Trading for a living ' by Dr. alexander support and resistance exist because of masses of traders feel pain and regret. trader who hold losing position feel intense pain. losers are determined to get out as soon as the market gives them the second chance. traders who missed an oppurtunity feel regret and also wait for the market to give them a second chance.Feeling of pain and regret are mild in trading...

Interesting reading for most of you. Not necessarily helpful.

Have a good one!
  • #208
  • Feb 6, 2014 3:26pm Feb 6, 2014 3:26pm
Quoting exchange101
{quote} Hello vamp, My health problems have stopped me from starting the next step, which is adding all of you guys (and gals if any) to Skype list. Don't worry, I always keep my word and promises. After I add you all to Skype, I will post here a list (with your approval of course) with FF usernames so you can know if I missed any of you. I bet many of you read the threads I am talking about. Puzzle pieces all around. I admit that is very hard to put the puzzle all together. Have a good one!
Take care of your health first as health is wealth. All other things can wait. So GET WELL SOON
  • #209
  • Feb 6, 2014 5:48pm Feb 6, 2014 5:48pm
Hi Exchange

Sorry to hear of your health issues. Take care of yourself first. The market and people will be here when your ready to move forward.
  • #210
  • Feb 6, 2014 5:58pm Feb 6, 2014 5:58pm
Mr Exchange,

Your health comes first. We have waited all of our Forex Careers, so we can wait until you're fully recooperated and ready.
  • #211
  • Feb 7, 2014 2:49am Feb 7, 2014 2:49am
Think of your health first, everything else is secondary. Look after yourself exchange101
  • #212
  • Feb 7, 2014 3:42am Feb 7, 2014 3:42am
Hello everybody,

Thanks all for the good wishes.

I just realized something since starting this thread and will make small corrections to the selections as I believe this is fair for everybody. If you were wondering, this will have a positive impact on some of you.

I decided, in addition to the students that are already in forex for sometime and trading according to various methods (S/D, TL's. etc) to accept probably 1 or 2 members that at the moment are using indicators. I realized that our discussion here excluded the ones that use indicators as they could not give any insight until now.

Hope you all consider this as a fair thing to do.
  • #213
  • Feb 7, 2014 4:12am Feb 7, 2014 4:12am
The next image will be as a poll, sort of say. Please answer the questions even if you use indicators. Like I said in the beginning, it doesn't matter your knowledge level, just give your best shot.

Attached Image (click to enlarge)
Click to Enlarge Name: EU-ex3.jpg Size: 755 KB


Q1: Did you caught the big move? Y/N (mention if you use indicators, if your answer is NO)
Q2: Where was your entry? (please mark on the image - also your entry logic)
  • #214
  • Feb 7, 2014 4:42am Feb 7, 2014 4:42am
Quoting exchange101
The next image will be as a poll, sort of say. Please answer the questions even if you use indicators. Like I said in the beginning, it doesn't matter your knowledge level, just give your best shot. {image} Q1: Did you caught the big move? Y/N (mention if you use indicators, if your answer is NO) Q2: Where was your entry? (please mark on the image - also your entry logic)
Not taken the trade.I use indicators to make trade decisions and by the time my indicators gave me a signal to buy the move was almost over.also as a newbie read several times not to trade during important news releases which was ECB press conference yesterday.Wild moves up and down in previous months during President Draghi speak also kept me out of the trade.
Thank you for giving a chance to people using Indicators also
  • #215
  • Feb 7, 2014 4:54am Feb 7, 2014 4:54am
Was not trading at the time of this event. I don't trade around major news events!
  • #216
  • Feb 7, 2014 4:56am Feb 7, 2014 4:56am
I am a retired signal processing professor, not a professional trader. I see all the inputs are digital signal.

I treat the signal as a process, not a fully random process. From my few years experiences in your field, I found that the trend is the most important in the signal. So I use only the trend not messages. My strategy is 'trend in' 'trend out' using my Kalman filter for the trend. Once there is a 'big message', I quit just before the message.

From the image above, it is clearly a big message behind it. I never catch this kind of move. the picture below somehow tells my possible action with my own indicator.
Attached Image
  • #217
  • Feb 7, 2014 5:35am Feb 7, 2014 5:35am
Quoting exchange101
The next image will be as a poll, sort of say. Please answer the questions even if you use indicators. Like I said in the beginning, it doesn't matter your knowledge level, just give your best shot. {image} Q1: Did you caught the big move? Y/N (mention if you use indicators, if your answer is NO) Q2: Where was your entry? (please mark on the image - also your entry logic)
I was Sell ( 0.10 ) from 1.3537 and placed TP 1.34835 and it came till 1.34843 on my broker ( bad luck missed by 0.08 pips and ) had this order been executed I was also on 0.10 lots buy on way up before.I had placed all the SL and had to leave and later it went till 1.3621 , had further buy orders in way with SL . Since I was not on my system couldn't book profits and those trades closed on SL. those were small trades so didnt matter much . Although all my trades are still open as i keep on buying and selling to keep positions . So I did catch the above move and total equity got increased.

I do not use indicators and later on I can attach screen shot of my broker and trades to prove what all I have mentioned.
Currently I have hedged and have placed pending orders at different levels according to my study and whatever little experience I have of the market movements .
  • #218
  • Feb 7, 2014 5:45am Feb 7, 2014 5:45am
Good posting and thank you "realfun07". You don't have to prove anything, what you have posted is enough for me.

So you took a little profit for the day? That's good. You have missed the big move (80-100 pips)!
  • #219
  • Feb 7, 2014 6:28am Feb 7, 2014 6:28am
I did not catch the move as I was expecting a retracement to either 50% or 61.8% of the down leg on 4H TF. That move eventually hit the 50% at about 1.3607 and close below. So I short the trade 4 hours after the move. Now I've moved my stop to break even and my TP at 1.3545
  • #220
  • Feb 7, 2014 6:38am Feb 7, 2014 6:38am
Less I forget I used indicator before and the result was disasterous on my accounts. Right now I use S/R, TL and Pivot point
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