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  • #1,361
  • Jan 17, 2014 1:40am Jan 17, 2014 1:40am
hello friend, hello mongolian
nice that you're still around. how are things going? i'm back to the thread. just one question mongolian: wich Software or Broker do you use? i was checking fxaccucharts yesterday but they seem disapeared. didn't found them. can anybody recommend a Broker or Software for trading the 10 bar tick Chart as mongolian do? and is there a template or have you drawn the grid-lines manually mongolian?
thank you fellows, bless.

cheers mex
  • #1,362
  • Jan 19, 2014 7:19am Jan 19, 2014 7:19am
Quoting mex2000
hello friend, hello mongolian nice that you're still around. how are things going? i'm back to the thread. just one question mongolian: wich Software or Broker do you use? i was checking fxaccucharts yesterday but they seem disapeared. didn't found them. can anybody recommend a Broker or Software for trading the 10 bar tick Chart as mongolian do? and is there a template or have you drawn the grid-lines manually mongolian? thank you fellows, bless. cheers mex
Broker who provided accucharts is indeed gone as far as the U.S. goes. There are lots of good brokers out there - find one you can live with as far as the spread they charge and the platform they provide. Metatrader is a platform that is used by many brokers. As far as gridlines, when I used accucharts - it was drawn by hand, now with Metatrader - it is a template.
  • #1,363
  • Jan 20, 2014 3:38am Jan 20, 2014 3:38am
Quoting mongolian
{quote} Broker who provided accucharts is indeed gone as far as the U.S. goes. There are lots of good brokers out there - find one you can live with as far as the spread they charge and the platform they provide. Metatrader is a platform that is used by many brokers. As far as gridlines, when I used accucharts - it was drawn by hand, now with Metatrader - it is a template.
thank you mongolian, i think i try dukascopy.com , seems interesting, ECN Broker, they offer tickcharts and spread goes from 0.5 EUR/USD.
(thats no affiliate, i have nothing to do with them..;-))

you trade with metatrader now? from the 1Min Chart? isn't that tickchart offers more opportunities?

cheers mex
  • #1,364
  • Jan 21, 2014 8:04am Jan 21, 2014 8:04am
Quoting mex2000
{quote} thank you mongolian, i think i try dukascopy.com , seems interesting, ECN Broker, they offer tickcharts and spread goes from 0.5 EUR/USD. (thats no affiliate, i have nothing to do with them..;-)) you trade with metatrader now? from the 1Min Chart? isn't that tickchart offers more opportunities? cheers mex
Well the tick chart offered on Metatrader didn't exactly fit my needs. I have used a renko chart, the 1M chart and other variations. It depends on the trader and how they want to approach it. Currently I am using a range bar EA that i purchased. But the 1M would work fine.
  • #1,365
  • Feb 28, 2014 9:30am Feb 28, 2014 9:30am
Hi everyone, I have been trying this system for the past week. So far I've had 1 winning day and 5 losing days. It seems to me without some additional measures there isn't any possible way to "make money everyday" using this system. Even on the charts posted there are several places where a losing trade could have been taken and mysteriously wasn't. I put some of my points on the first chart in the thread. I just chose that chart because I am sure it is the chart most of us who have viewed this thread are familiar with.

With all these additional trades you aren't taking it seems there must be another critical piece to your system you aren't telling us. I am just wondering what it is? lol
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  • #1,366
  • Mar 1, 2014 10:04pm Mar 1, 2014 10:04pm
Quoting Bookman
Hi everyone, I have been trying this system for the past week. So far I've had 1 winning day and 5 losing days. It seems to me without some additional measures there isn't any possible way to "make money everyday" using this system. Even on the charts posted there are several places where a losing trade could have been taken and mysteriously wasn't. I put some of my points on the first chart in the thread. I just chose that chart because I am sure it is the chart most of us who have viewed this thread are familiar with. With all these additional...
Wow. An entire week? Please. This is the problem. After SIX days, 6 WHOLE days, you can't make money. I venture to say that regardless of the system you use after six days you won't make money. It's not the system. It's the trader.

Why don't you put up your charts with your trades and let's take peak at how you executed? I'm not going to bother commenting on all of your notes on the charts except to say, you obviously don't understand what has been laid out here. For a pullback to be valid, I am looking for it to come completely back to the previous line. The little back and forth's that don't fully do that - are noise, plain and simple.

Mongolian
  • #1,367
  • Mar 2, 2014 8:43pm Mar 2, 2014 8:43pm
Quoting mongolian
{quote} For a pullback to be valid, I am looking for it to come completely back to the previous line. The little back and forth's that don't fully do that - are noise, plain and simple. Mongolian
Thanks for the response. I don't remember reading anywhere about what it takes for a pullback to be valid. This would definitely reduce the number of potential trades. This has answered a lot of my questions. I will redo my thoughts on that chart. I will also attach what I think the chart you would have penciled in on excel would have looked like. Lets see what happens.

From everything I have read about your system I see potential trades at 1, 2, 4, 6, 7, and 8. For a total of 3 winners and 3 losers. I guess it turns out your system does work
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  • #1,368
  • Mar 13, 2014 7:41am Mar 13, 2014 7:41am
A great read and well worth the time! Thx to Mongo and to all other contributors!
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #1,369
  • Mar 21, 2014 3:52am Mar 21, 2014 3:52am
Quoting mex2000
{quote} thank you mongolian, i think i try dukascopy.com , seems interesting, ECN Broker, they offer tickcharts and spread goes from 0.5 EUR/USD. (thats no affiliate, i have nothing to do with them..;-)) you trade with metatrader now? from the 1Min Chart? isn't that tickchart offers more opportunities? cheers mex
Howdy, Dukascopy tick charts are great, you can chose how many ticks you want in them so the 10 tick chart looks fine. Very easy to see divergences there too. Some slight slippage on entry & sometimes can take a few seconds to exit the trade but the spreads are usually 0.2 - 0.5 pips on EUR/USD but remember you have to pay commission on top of that, works out at about 0.6 pips(ish). Decent broker though as far as I'm concerned (no affilitation) though I use Metatrader for charts/ indicators & Dukascopy for entries/ exits.
  • #1,370
  • Apr 3, 2014 11:48am Apr 3, 2014 11:48am
Who else just loves the pre-NFP day price action lull? Little bit of movement, but not enough to keep me off here during the trading day.
  • #1,371
  • Apr 15, 2014 8:17am Apr 15, 2014 8:17am
http://traderfeed.blogspot.com/2014/...essing-up.html Great post here. Click on the link to read the memo by Howard Marks as well.
  • #1,372
  • Apr 29, 2014 8:24am Apr 29, 2014 8:24am
Awesome
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  • #1,373
  • Apr 29, 2014 10:59am Apr 29, 2014 10:59am
That stinks.
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #1,374
  • May 24, 2014 6:42pm May 24, 2014 6:42pm
This is a great thread Mongolian

Not sure why it never got much attention.

I use a very similar technique for scalping crude.
Money Talks, Bullshit Walks
  • #1,375
  • May 24, 2014 8:03pm May 24, 2014 8:03pm
Quoting Keyser_Soze
This is a great thread Mongolian Not sure why it never got much attention. I use a very similar technique for scalping crude.
Thanks for the kind words!
  • #1,376
  • Aug 14, 2014 3:48pm Aug 14, 2014 3:48pm
Can anyone code me better volume indicator for amibroker(afl) platform along with the volume price bars ..i am in search of this for few days ,,,it is available in mt4,ninjatrader,and other platforms but i am not able to get for amibroker . One afl is out there but could not match with price bars could anyone can code me the better volume indicator along with price bars ...... It will be a great help for me....... I have attach the image of original version of better volume indicator from eminiwatch.com ....... And also attach the code for amibroker in notepad .....you just need to modify to fit with the original version .....i mean colouring the price bars including the colouring of the volume bars ...thanks...
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  • #1,377
  • Aug 14, 2014 7:35pm Aug 14, 2014 7:35pm
Quoting Devbusiness
Can anyone code me better volume indicator for amibroker(afl) platform along with the volume price bars ..i am in search of this for few days ,,,it is available in mt4,ninjatrader,and other platforms but i am not able to get for amibroker . One afl is out there but could not match with price bars could anyone can code me the better volume indicator along with price bars ...... It will be a great help for me....... I have attach the image of original version of better volume indicator from eminiwatch.com ....... And also attach the code for amibroker...
Not sure you are going to get much of a response for that in this thread. Just saying.
  • #1,378
  • Sep 9, 2014 8:12am Sep 9, 2014 8:12am
Quoting Devbusiness
Can anyone code me better volume indicator for amibroker(afl) platform along with the volume price bars ..i am in search of this for few days ,,,it is available in mt4,ninjatrader,and other platforms but i am not able to get for amibroker . One afl is out there but could not match with price bars could anyone can code me the better volume indicator along with price bars ...... It will be a great help for me....... I have attach the image of original version of better volume indicator from eminiwatch.com ....... And also attach the code for amibroker...
Your version looks wrong compared to my version. http://i.imgur.com/ooFcoy6.png
  • #1,379
  • Sep 11, 2014 8:12am Sep 11, 2014 8:12am
http://blog.bufferapp.com/the-myth-o...ard-your-goals

This is a must read. Especially for any new traders, or for any of us in general. For the longest time, I struggled with this, I could see the reward or the end result, but could never stay 'motivated' towards that. My motivation would always fail whenever I hit any kind of bump in the road. So very very frustrating. It wasn't overnight, but little by little, I started to see that my focus was entirely misplaced. Long story short - it's all about the process. It's about execution and being disciplined. When I was able to let go of my 'results' and really focus on my 'how' was I then able to move forward.

The thing for me was I had this goal - we all do, and it's usually some dollar amount; whatever it's for, quit our day job, buy a car, fund our kids education - it always felt like 1. It was a zillion miles away AND 2. If only I could just stay motivated enough, then I'll be able to cross those zillion miles. It's very much like driving across the country. I live in Florida. If I wanted to take the wife and kids, throw them in the car and drive to Michigan or wherever, if I can't enjoy the trip, if I can't love the time spent in between here and there, man - what a miserable time we'd all have. What would happen is I'd throw everyone in the car @ probably 3am, Drive like crazy so I could get to Atlanta before noon (oh yeah, that's happened!) Eat lunch, throw them all in the car and motor on until I got wherever we're going. The trip would suck, everyone would be miserable including myself.

It's like this with trading. I've been guilty of this. We can all do the math. It only takes, X amount of pips, risking X% each trade, I could be @ $1 million bucks in NO TIME!!! Sign me up. I have my destination, I've done the math (I know that it is 1800 miles between here and Chicago, if I average 60 MPH I can be there by tomorrow morning!). Except, wait there's traffic around Orlando, damn you tourists! Oh hold on - they are working on the highway for the entire state of Georgia?? WTF! This is seriously impacting my time. I have 3 kids, what do you mean someone has to go to the bathroom AGAIN? We just went 3 hours ago?? Seriously? You get the picture. Our journey isn't a straight line, and it is full of surprises. So is trading.

I still do the math. I still know if I can drive straight through, I can be anywhere in x amount of hours. However, in my growth as a person, as a trader, as a father and husband, I have learned to not only tolerate the bumps in the road, but to enjoy and to love them. This is where life happens. With trading, my focus is always on my execution. If I can follow my edge, and execute my trades as good as I possibly can, then that is where I put all my emotional energy. The results follow. I eventually get to Chicago!

Mongolian
  • #1,380
  • Sep 16, 2014 9:01am Sep 16, 2014 9:01am
The following questions have been posed to me as well as encouraging me to share them on this thread so here it goes.

What are your thoughts on trade management ? Trade Management - To me, this is everything I do before, during and after. Trade management is placing limit orders and not using market orders. It is making sure I have appropriate sizing for the trade, it is ensuring I have appropriate Stop in place when placing the trade, and exiting where I set out to if possible. Sizing is probably one of the most important aspects as most new traders are going to be sized to large for their account size. I have formula's that work for me and how I trade now. I know exactly how much margin is required for each lot I'm putting on and I know how much any give trade will impact available equity. Depending on the pair that I trade, really dictates what kind of stop I'll use. Some pairs are just more robust than others. The bigger the moves a pair is making, the bigger stop I'll run with. In turn, if I need to run a bigger stop - I will adjust my size down accordingly.

if/when do you move the trade to break even? Honestly - I rarely even bother with this. When I get caught up in the volatility of price's movement on a trade - it usually will result in me closing out a trade before it can make it's full move. I have tried to work this in the past, but for the most part - I either get a positive trade or I stop out. That's just a personal thing - I know there are lots of people who do this.

do you tighten the stop loss as the trade pans out? I think this is more of the same from the previous question. How I trade is pretty short-term. If I was position trading more - I would do this, but I pretty much am just taking each small move throughout the day as it comes. If I"m wrong about the intent of this question - I can delve into it further.

do you trail the stop? Again - I see this as a followup to the previous two questions. I don't really trail. I believe it all depends on how you are trading and what your time-frame is as to whether this makes sense or not.

do you calculate a fixed risk % each trade based upon your current account equity? so the size changes during the week to reflect current profit or loss and is adjusted per trade. Yes. I have a set % that I will put at risk. Mine is probably more aggressive than I would recommend to most new traders, but each trader needs to figure this number out for him or herself. I risk 3% per trade in case anyone is wondering, not that it matters.

what has been the hardest challenge having a trading career and supporting 3 kids and the boss? Initially, it was getting over that psychological hump of there is not regular paycheck. That was a big one. Trying to sell it to my bride that this was the way to go took actually producing results. We had a $$ amount threshold that I had to hit before I could really do this FT. It was tough, but sooo worth it.

I hope this helps. Good trading everyone!

Mongolian
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