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Davit's BB Wave System

  • #401
  • Aug 13, 2014 10:59pm Aug 13, 2014 10:59pm
Morning all

Will update where I am a bit later.

@Davit - Congrats with the results for the month and I see the thread is growing nicely

Good Luck for the day

Rooi
We miss 100% of the shots we don't take
  • #402
  • Edited 11:27pm Aug 13, 2014 11:17pm | Edited 11:27pm
Quoting Davit
Watching AN for shorts Somehow I missed this beautiful harmonic Notice how price stopped on a dime on 1200fib {image} {image}
#395

Hi Davit!
Why are you going in the risk when monthly could start a breakout upsides...?
Couldn't it be more qualified under these market environment (e.g. monthly candles are shaping an ascending triangle) trading the AUDNZD only long and wait now if the market price is struggling on your chart exclusively at the lower lines and go then into the market when the price is going there more downside?
(My weekly chart also would say me a CCI negative divergence which also means "going short". But there're only indis, not more...Signals from indis shouldn't be hard rules).
Best wishes from Switzerland!
FXcube

AUDNZD, Weekly, 2014 August 14
Attached Image (click to enlarge)
Click to Enlarge Name: AUDNZD, Weekly, 2014 August 14.jpg Size: 188 KB
  • #403
  • Aug 13, 2014 11:31pm Aug 13, 2014 11:31pm
Quoting pip.monkey
{quote} hi davit thanx for sharing - i loaded your template (love the visual) but no BBs appear, so will add them- what bb setting should I use. Im guessing 20@2sd and 20@3sd thanx
You have to download ribbon BB indicators as well.
If prefer not
I am using 2 BB 's
1st deviation 2
2nd deviation 3
Everything else default
In trading, you have to be defensive and aggressive at the same time
  • #404
  • Aug 13, 2014 11:34pm Aug 13, 2014 11:34pm
Quoting Rooi
Morning all Will update where I am a bit later. @Davit - Congrats with the results for the month and I see the thread is growing nicely Good Luck for the day Rooi
lets roll forward
In trading, you have to be defensive and aggressive at the same time
  • #405
  • Edited 11:50pm Aug 13, 2014 11:38pm | Edited 11:50pm
Quoting Forexcube
{quote} #395 Hi Davit! Why are you going in the risk when monthly could start a breakout upsides...? Couldn't it be more qualified under these market environment (e.g. monthly candles are shaping an ascending triangle) trading the AUDNZD only long and wait now if the market price is struggling on your chart exclusively at the lower lines and go then into the market when the price is going there more downside? (My weekly chart also would say me a CCI negative divergence which also means "going short". But there're only indis, not more...Signals from...
Cube thanks very much for feedback
I must respond to my system signal
After 1700pips so far this month I feel its my trusted friend (system)
Having said this your comment reminded me what Mark Douglas said in "Trading in the Zone"

3. There is a random distribution between wins and losses
for any given set of variables that define an edge. If every
loss puts you that much closer to a win, you will be looking forward
to the next occurrence of your edge, ready and waiting to jump in
without the slightest reservation or hesitation. On the other hand, if
you still believe that trading is about analysis or about being right,
then after a loss you will anticipate the occurrence of your next edge
with trepidation, wondering if it's going to work. This, in turn, will
cause you to start gathering evidence for or against the trade. You will
gather evidence for the trade if your fear of missing out is greater
than your fear of losing. And you will gather information against the
trade if your fear of losing is greater than your fear of missing out. In
either case, you will not be in the most conducive state of mind to
produce consistent results.
4. An edge is nothing more than an indication of a higher
probability of one thing happening over another.

What above means based on my results if I take 100 trades I will roughly get 80wins 20 losers
But I have no way of knowing which trade taken according to my system rules is a winner or loser.That's the random factor of any system not just mine.
REgards
In trading, you have to be defensive and aggressive at the same time
  • #406
  • Aug 13, 2014 11:47pm Aug 13, 2014 11:47pm
Hi All

GU Update

The market took bearish mode for last 3 weeks now as an indication that predictions of an interest rate rise later this year or early next year were too optimistic. Though i still firm beliver that BOE will be the first one to raise the interest. The fall in the pound yesterday was justified as the outlook for interest rates became a little bleaker. Looking further I have many reasons to remain optimistic for pound and the bullish sentiment is sure to return. Yesterday news was not all bad at all. and it gives me even more hopes that there will be uptrend starting soon ...

"What did not make the headlines was that the Bank of England upgraded their estimate for economic growth this year from 3.4% to 3.5% and its 2015 forecast was lifted from 2.9% to 3.0%. Furthermore the BoE believed the amount of spare capacity in the economy narrowed to 1.0% from 1-1.5%. This should give anyone bullish on the sterling cause to hope that these good figures will eventually feed through to wage and CPI inflation.
We cannot overlook the good result for unemployment also released yesterday. The headline rate fell from 6.5% to 6.4% and the claimant count fell by -33,600 vs an estimated fall of -30,000. Adding more optimism was the fact that the BoE’s medium-term equilibrium rate of unemployment was reduced to 5.5% from 6.5%."

Good luck
  • #407
  • Aug 13, 2014 11:58pm Aug 13, 2014 11:58pm
Quoting Rocky1
Hi All GU Update The market took bearish mode for last 3 weeks now as an indication that predictions of an interest rate rise later this year or early next year were too optimistic. Though i still firm beliver that BOE will be the first one to raise the interest. The fall in the pound yesterday was justified as the outlook for interest rates became a little bleaker. Looking further I have many reasons to remain optimistic for pound and the bullish sentiment is sure to return. Yesterday news was not all bad at all. and it gives me even more hopes...
Rocky Welcome
I am happy that you keep up with fundamentals
Green pips
In trading, you have to be defensive and aggressive at the same time
  • #408
  • Aug 13, 2014 11:59pm Aug 13, 2014 11:59pm
Quoting Rooi
Morning all Will update where I am a bit later. @Davit - Congrats with the results for the month and I see the thread is growing nicely Good Luck for the day Rooi
Aren't you glad you got out when you did?Right decision. Your -80 would of been -200+ now
To be able to accept a loss like a professional is giant step forward to become successful trader
In trading, you have to be defensive and aggressive at the same time
  • #409
  • Aug 14, 2014 12:06am Aug 14, 2014 12:06am
Quoting Davit
{quote} Rocky Welcome I am happy that you keep up with fundamentals Green pips

Hi Davit

Thanks Bro

I wish i can send more analysis but shortage of time restrict me .....anyways this thread is a good initiative from you ... many new comers are learning from u I am sure ..... Remember always ... Sharing your knowledge will always increase your knowledge even further n sharpen ur skills....

regards
  • #410
  • Aug 14, 2014 12:08am Aug 14, 2014 12:08am
Quoting Davit
{quote} Aren't you glad you got out when you did?Right decision. Your -80 would of been -200+ now To be able to accept a loss like a professional is giant step forward to become successful trader

Hi Davit

Thanks for that.So much better.

I agree.Better to take the small loss early rather than "gambling" and hoping the news will be in my favor.

With all the positions I had open I would be down - 600 pips and counting

Hope we can continue on this path

Rooi
We miss 100% of the shots we don't take
  • #411
  • Aug 14, 2014 12:17am Aug 14, 2014 12:17am
I was waiting confirmation to short EJ and I got it.
Short EJ 3692 2x
RSI 50 hooking down red candles under WAVE
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY.Daily.png Size: 47 KB
In trading, you have to be defensive and aggressive at the same time
  • #412
  • Aug 14, 2014 12:47am Aug 14, 2014 12:47am
Quoting Davit
I was waiting confirmation to short EJ and I got it. Short EJ 3692 2x RSI 50 hooking down red candles under WAVE {image}
Mine short EJ 3716 4x
  • #413
  • Aug 14, 2014 12:53am Aug 14, 2014 12:53am
Quoting sniperdebt
{quote} Mine short EJ 3716 4x


I think I may have loser on EG
Pound is getting killed.Did not expect this kind of dumping
AN short doing fine up 17pips
In trading, you have to be defensive and aggressive at the same time
  • #414
  • Aug 14, 2014 12:55am Aug 14, 2014 12:55am
Quoting Davit
{quote} Hi FX Glad that I could be any use and generally I had no need to start this thread if it were not guys like you. All GU pairs are in a limbo. Better to wait a little to get a confirmation that correction is taking place then be early and collect DD One advise if I may. If you are new trading specially live account GN GJ GA are beasts to trade.Look at those daily ADR's they are almost double that of GU. I rarely touch those.I rather trade a pair which has 50-60ADR .Making a mistake there is relatively painless but making a mistake on GN...
Thank you for your insight. You are right, they seem to go other direction.
Thanks for the thread.
  • #415
  • Aug 14, 2014 1:14am Aug 14, 2014 1:14am
Quoting Davit
Short AN 980 2x Taking a chance here since RSI WR% pointing down little late to the party but plenty of room on downside
Closed at 50
+60pips

Need EG to come round
In trading, you have to be defensive and aggressive at the same time
  • #416
  • Aug 14, 2014 1:15am Aug 14, 2014 1:15am
Quoting Davit
{quote} I think I may have loser on EG Pound is getting killed.Did not expect this kind of dumping AN short doing fine up 17pips
EG i will look when price travel to 805xx zone
right now i'm prefer trade on NU ( 5x on profit), to me NU look likes double bottom will monitor closely if RSI hit 50 level.
Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSDmDaily.png Size: 89 KB
  • #417
  • Aug 14, 2014 1:20am Aug 14, 2014 1:20am
Quoting sniperdebt
{quote} EG i will look when price travel to 805xx zone right now i'm prefer trade on NU ( 5x on profit), to me NU look likes double bottom will monitor closely if RSI hit 50 level. {image}
Snip
Excellent trading
Kick ass brother
In trading, you have to be defensive and aggressive at the same time
  • #418
  • Aug 14, 2014 1:53am Aug 14, 2014 1:53am
8min Euro news.This could make a difference.
There is no reason to expect green numbers but....anything can happen
Attached Image
In trading, you have to be defensive and aggressive at the same time
  • #419
  • Aug 14, 2014 2:05am Aug 14, 2014 2:05am
Quoting Davit
{quote} I think I may have loser on EG Pound is getting killed.Did not expect this kind of dumping AN short doing fine up 17pips
After French and German GDP, I put BE at 1 pip profit, if those GDP couldn't drive EG lower and even GU showed no sign of retrace overnight it means, it was not the right time to take it
  • #420
  • Aug 14, 2014 3:21am Aug 14, 2014 3:21am
Quoting Davit
{quote} Snip Excellent trading Kick ass brother
Closed NU +228 Pips
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