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  • #301
  • Apr 17, 2015 3:13pm Apr 17, 2015 3:13pm
Friday night persistance
This is a friday night, its 22:03 PM here in Sweden. My woman is out with her friend having a beer. Our 1 and 1/2 year old son i sleeping and snoring in our bed. And im looking at charts, considering take profits and how much E/G is actually going to make of this new high. Oh, and im drunk. But im still doing it. To me THATS persistance. Thats the kind of persistance that Einstein was talking about when he said hes not that smart, its just that he dont give up once he finds a problem that he wants to solve. My problem is im too smart for normal jobs. They are very boring and uneventfull to me. Thats why im into trading.

Because there isnt much else out there for me.

Because i cant be some disabled persons assistant and because i cant be employed by the university to do some kind of research that noone is ever going to care about.

Because someone who dont have other ambitions can do those things.

Because i have better plans.

Because i can do better for ALL of you then that.

Because i know part of how the banks and hedgefunds think.

Becuase i want to tell you this.

Because i am who and what i am.

Because i dont care if you believe me or not.

Because im interested in the truth and not opinions and things that can be proven.

Because nobody is stoping me.

Because i said "No!" to Goldman and they didnt make much of an offer anyway (idiots).

Because i am used to writing when im drunk i still dont make a mess writing.

Because i have done enough already i can die in 60 seconds with a smile on my lips knowing i did all i could think of to make this world a better place MY WAY. (I dont care much for utilitarianism, i think its a fascist bullshit ideology. We all have a "thing" thats in our hearts that makes us know what is right and good.)
My signature is: "Classified".
  • #302
  • Edited 3:39pm Apr 17, 2015 3:27pm | Edited 3:39pm
My next company
The business i had with in 2008-2011 is gone, thankfully. The next one is going to trade only one pair at a time. The pair chosen is the best considering a lot of factors but mainly the price action. Meaning whats the average D1 candle? What is the average H1 candle? What does the break of D1 highs and lows look like? Things like that. Important things. So one part of the whole operation will be looking at things like that, choosing the most appropriate pair, while the other part is actually trading the damn thing. The advantage of many sharp minds focused on one and the same task is an incredible undertaking. Its actually hard to circumvent the issues of personality and opinion, but it CAN be done. Thats why a few focused minds can create something better then one focused mind. Otherwise there would be no electricity, there would be no long distance surgery, there would be no internet and no knowledge of the infant brain.
My signature is: "Classified".
  • #303
  • Apr 17, 2015 3:35pm Apr 17, 2015 3:35pm
Quoting yaed
{quote} It is. Only issue is to decide when that has happend. Its NOT impossible though. Both you and i are of that opinion. You have been thinking so for 7 years, i have for 6 years. You know first time i ever traded i made i 10% in two days, almost no drawdown. The problem though that didnt happen then was, what would i have done if my trades didnt work out? Thats the question i have been answering for 6 years. One year later i blew 75% of my account before i realised i was totally fucked. Sorry i let you down about the list of actors. Thats just...
Good on ya yaed!
Thanks for the reminder. It brought back some memories.
I've aged since then.

In my 12 years thus far it has been a ride. I've fairly much traded everything under the sun and in all ways you can think of.
I've spent over 12,000 hours at screens and read thousands of pages of trading material.

I can honestly say i cringe when new folk show an interest in trading and want to get started. If i wasn't such a nice guy i'd curse them to their very face!
It'll strip you back bare and it will force you to grind.
There is only one way you get it done and it's the hard way. But if you put in, it'll pay out!
Good weekend mate!
Regards
  • #304
  • Apr 17, 2015 3:55pm Apr 17, 2015 3:55pm
Quoting skfx
{quote}I can honestly say i cringe when new folk show an interest in trading and want to get started. If i wasn't such a nice guy i'd curse them to their very face!
Well, statistics say anybody who does it will loose a lot of time and money, even if they think they are ready. I did, so i know for a fact it seems to be that way.

Further more, if i consider the questions and statements of people who seem to be trading quite large amounts of real money, at least relative to income (10.000+ euro or dollars), they often seem LITTLE signs of being ready for that kind of undertaking. Sure they can make 50% in a month. Any fool with a trigger finger can do that. Question is, how big was the chance of loosing 100% during that time? Often bigger then 50%. And so it goes, people remove account histories that fail and leave the ones that do OK.

In general most people loose money trading. So in general its a bad idea to trade at all. Its very difficult to tell in advance who has the persistance needed.

When people want to get started trading they often seem to have a fixed idea already on what their takeprofits and their stoplosses and their risk/reward ratios is going to be. They have ABSOLUTELY no reason to assume these things, yet they do. Which means they try to start out at the end of things, 6 years before they get there.

It IS the most difficult occupation i can think of. Far more difficult then science, politics or crime. I tried my hand at all three of those and it was truly boring all of it.
My signature is: "Classified".
  • #305
  • Apr 17, 2015 6:24pm Apr 17, 2015 6:24pm
Quoting yaed
{quote} So in general its a bad idea to trade at all. Its very difficult to tell in advance who has the persistance needed. When people want to get started trading they often seem to have a fixed idea already on what their takeprofits and their stoplosses and their risk/reward ratios is going to be. They have ABSOLUTELY no reason to assume these things, yet they do. Which means they try to start out at the end of things, 6 years before they get there. It IS the most difficult occupation i can think of. Far more difficult then science, politics or...
Few succeed in any business. Can we say that in general it is bad idea to start a business? In trading the whole cycle occurs much faster and it is void of many pleasures associated with other businesses. Other business may fail, but leave you with a network of contacts which is not going to happen in trading as success depends entirely on your skill. At the same time you have no one else to blame, even though people always tend to find someone to blame, for example brokers.
  • #306
  • Apr 18, 2015 10:03am Apr 18, 2015 10:03am
Quoting grin
{quote} Few succeed in any business. Can we say that in general it is bad idea to start a business? In trading the whole cycle occurs much faster and it is void of many pleasures associated with other businesses. Other business may fail, but leave you with a network of contacts which is not going to happen in trading as success depends entirely on your skill. At the same time you have no one else to blame, even though people always tend to find someone to blame, for example brokers.
Good point. Well to put things in perspective, if you own a Café or something like that, you can screw up or get into bad times and in a few years or so you get into loss. So you can loose your whole thing. In trading that can happen overnight.

One of the things that really makes trading interesting is that you DONT have to deal with customers/clients.
My signature is: "Classified".
  • #307
  • Apr 18, 2015 10:20am Apr 18, 2015 10:20am
most careers that pay large salaries and bonuses take huge amounts of work any endless years to attain.

take the safety deposit box raid in London as an example,crooked yes, but still somebodies profession .many skills required and perfect planning.most crooks would not attempt such a raid,but these guys used there skill developed over many years and planned there trade,(raid) to perfection,adapting to changing circumstances.mother luck played a part for them when the alarms were ignored by both police and the security center,100 million plus.

my little moral to this story is to persevere ,except we will always be learning and take advantage of your gained,skills,plan and a little mother luck

AHMEN
  • #308
  • Edited 11:23am Apr 18, 2015 10:34am | Edited 11:23am
Meditation
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Well anyway, calculating a stoploss is VERY easy. If it breaks the otherway.

That would mean i actually only need ONE line instead of two.

So lets have a look at the last few days using this pattern. Im just going with E/G here because i kinda got started on that before. So its not a "choice" that is better, i just havent thought about THIS simple before, so ill just pick it for no special reason.

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Think im going to research if i can do this kind of thing on E/U M1.

Wow that was quick. Nope, cant be done. So then i guess its a institution thing. How they create targets. H1 is a pretty good chart for the strategy, think i will keep M1 though for the nice entry. I guess its still the high/low scale weighing this way or that way type logic. Very simple. Seems effective.

There are places where it dont work of course. It also depends on where and how you make the highs and lows. But its a good general idea.

Now the next thing is to work out a good entry strategy. Ive said more then enough i think so i think i will keep that to myself.
My signature is: "Classified".
  • #309
  • Apr 18, 2015 10:35am Apr 18, 2015 10:35am
Quoting diceman555
most careers that pay large salaries and bonuses take huge amounts of work any endless years to attain. take the safety deposit box raid in London as an example,crooked yes, but still somebodies profession .many skills required and perfect planning.most crooks would not attempt such a raid,but these guys used there skill developed over many years and planned there trade,(raid) to perfection,adapting to changing circumstances.mother luck played a part for them when the alarms were ignored by both police and the security center,100 million plus. my...
Wise words.
My signature is: "Classified".
  • #310
  • Apr 18, 2015 10:51am Apr 18, 2015 10:51am
Quoting yaed
Meditation {image} {image} Well anyway, calculating a stoploss is VERY easy. If it breaks the otherway.
Attached Image


I can trade purely off a DOM.
In fact, i'd recommend it to everyone. You won't see anything first up but keep watching it.
All sorts of patterns begin to appear over time.
Regards
Attached Image
  • #311
  • Apr 18, 2015 10:54am Apr 18, 2015 10:54am
Thank you Yaed. I ve read this thread from the very first page till the end! Very interesting and hopefully useful too.
It would be great to see any feedback from traders who have tried this great strategy already.
Copy me!
  • #312
  • Apr 18, 2015 11:34am Apr 18, 2015 11:34am
Quoting skfx
{quote} {image} I can trade purely off a DOM. In fact, i'd recommend it to everyone. You won't see anything first up but keep watching it. All sorts of patterns begin to appear over time. Regards {image}
Yupp.
My signature is: "Classified".
  • #313
  • Apr 18, 2015 11:43am Apr 18, 2015 11:43am
Quoting skfx
{quote} {image} I can trade purely off a DOM. In fact, i'd recommend it to everyone. You won't see anything first up but keep watching it. All sorts of patterns begin to appear over time. Regards {image}

excellent stuff guys. Yaed, i think the first step for us is to determine exactly where stops go.

personally i can't imagine trading off only a DOM. sounds wonderful...but i'm scared! i need my crutches, charts lol!
  • #314
  • Apr 18, 2015 4:44pm Apr 18, 2015 4:44pm
Great thread this to be honest.

Lots of negativity in between from people who either want to be spoon fed or from those who go around and posit their holier than thou attitude at the drop of a hat.

But keep doing what you're doing Yaed (creepy how similar our logins are), it seems you have had your breakthrough or you are at least close. Solving the mystery of the forex market require a great deal of out of the box thinking, whether it be money management, chart reading, or general trader psychology and you have been doing a lot of each here.

I have been away from forex for a couple years because I gave up thinking it was random but a wise man once said "any year in which you don't destroy one of your best loved ideas is a wasted year", and that is what I have done this year. Nothing random happens here, it just takes second level thinking to decipher the matrix, something which many are not prepared to apply. Everyone is looking for the easy way, whether be EAs or whatever, but anything valuable will take persistence and lots of work. The universe doesn't reward laziness.

Happy trading.
  • #315
  • Apr 18, 2015 9:07pm Apr 18, 2015 9:07pm
Quoting skfx
{quote} {image} I can trade purely off a DOM.
I actually don't think you could...I'm not saying this as in everyone, more so, you specifically.

Even you attempts at hindsight charts are a little weak.

Just saying, is all.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #316
  • Apr 18, 2015 9:16pm Apr 18, 2015 9:16pm
Quoting Magix
{quote} I actually don't think you could...
I would like to retract this statement...he didn't say he could do it profitably...he just said he could do it...

In my retraction, I will also state a similar and yet equally ambiguous claim...

I can trade off of a bowl of alphabet soup...But yet, I do not believe I could do this profitably, and don't encourage others to try.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #317
  • Apr 19, 2015 3:14am Apr 19, 2015 3:14am
Quoting Magix
{quote} I would like to retract this statement...he didn't say he could do it profitably...he just said he could do it... In my retraction, I will also state a similar and yet equally ambiguous claim... I can trade off of a bowl of alphabet soup...But yet, I do not believe I could do this profitably, and don't encourage others to try.
What would be the point of making that statement without profitability?
I bet you spend much of your time retracting statements.
Think more, run your mouth less.

Regards
  • #318
  • Apr 19, 2015 3:25am Apr 19, 2015 3:25am
Quoting dagoods
{quote} excellent stuff guys. Yaed, i think the first step for us is to determine exactly where stops go. personally i can't imagine trading off only a DOM. sounds wonderful...but i'm scared! i need my crutches, charts lol!
Agreed dagoods!
At first it is a little like removing indicators from your chart and going a clean chart.

When i trade off a DOM, i do have a volume profile to work off. That gives me the auction.
I mark key static reference points on my DOM for decision making also.

Some examples are found in this thread (last 3 maybe 4 pages or so).
http://www.forexfactory.com/showthre...58#post8213958

Regards
  • #319
  • Apr 19, 2015 8:23am Apr 19, 2015 8:23am
Quoting dagoods
{quote} excellent stuff guys. Yaed, i think the first step for us is to determine exactly where stops go. personally i can't imagine trading off only a DOM. sounds wonderful...but i'm scared! i need my crutches, charts lol!
Well i think i would trade tick if i had the hardware setup.
My signature is: "Classified".
  • #320
  • Apr 19, 2015 8:25am Apr 19, 2015 8:25am
Quoting Yaad
Great thread this to be honest. Lots of negativity in between from people who either want to be spoon fed or from those who go around and posit their holier than thou attitude at the drop of a hat. But keep doing what you're doing Yaed (creepy how similar our logins are), it seems you have had your breakthrough or you are at least close. Solving the mystery of the forex market require a great deal of out of the box thinking, whether it be money management, chart reading, or general trader psychology and you have been doing a lot of each here. I...
You are not alone my friend! I gave up several times. I also came back. Each time i get back i see there is a big difference though, i am better, more focused.
My signature is: "Classified".
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