My subconscious does all my typing ... well a lot of it. Now perfecting trading is where I need the juice! LOL
DislikedA great way to figure out what happens there is to keep a journal of your trades.
Quite often you'll look back and see something you wrote that broke your rules.
Like forgetting to look at the larger time frame and realising that you tried to trade against the trend, or had tried to pick a top/bottom in the market. Through fear of missing out on getting in early you Sell on a break of the up trend only to have the market bounce back up as part of a cosolidation period.
At the least the journal will help identify situations that your method doesn't work, or problems with your mentallity.Ignored
DislikedUao OrangeRoshan that's impressive!
Is it possible to have some documentations about your Tiga Abdul system trading?
Dislikedwould you be willing to share you're EA WITH US so we can PIP sooner and better??? I would even pay you for it. You are the GUY we all admire!!! Help us PLEASE! I want to have an EA eventually that will make me big money too! LOL .... THANKS for all you have done for us Newbies here. I am still trying to get this down. THANKS TO ALL YOU PIPSTERS SHARING HERE WHAT YOU KNOW!!!Ignored
DislikedYeah, right. I often wonder how I got home alive when I don't remember anything!
But seriously, I'm no psychologist though it's well known that subconscious mind picks up a lot more than conscious mind does.
If you ever wondered like me how you got yourself into a trade where right after you took a position, the market starts to move against you and very fast too; the answer to that common occurence may be that your subconscious knew where the market was going but your lack of self-esteem led you to the losing trade situation.
After a couple of trades like that in a row, I wondered if this world happened to revolve around me but I guess it would be more understandable if my subconscious mind knew where the market was going.
What do you guys think about it?
Maybe that's why psychology plays a big role in trading.
DislikedThanks. I did a rush job doing the early version of Tiga Abdul method. After reading this, go thru this thread and incorporate the tlatomi method. You cant go wrong.
DislikedI think about it all the time and wonder if I should do the opposite of what I want to do. I mean to short when I want to go long and so on.Ignored
DislikedTrust the method 100%.
Remember what nike says, "JUST DO IT". There will be losing trades, but there will be more winning trades. When you keep to the normal 2% Risk Management model, it should be profitable.
When entering a trade, you must be emotionless. The method says, enter Long; with proper Sl & TP; ENTER and log it into your journal. Dont even look at the chart to see where it is going. When it makes, it makes, when it doesnt, it doesnt. I will spend my time studying other currencies looking for the next signal.
Dont cloud your thinking with things like, "Is it going the right way?", or "Oh my god, why is it -10 pips?" or "I should have done the reverse, damn!"
The method works. The winning trades outnumbered the losing trades. But, indecisive attiude & fear will make a winning strategy a losing one. Look at the backtesting results i posted. It has a sizeable losing trades also, but its still positive due to more winnings. Thats why I posted it. Its the only rule (out of 3) that I can give, MOTIVATION. To master the other 2, you must learn to tame the beast inside you.
Stick to the 2% RM and trade with confidence.
I hope that helps a bit.
"The enemy has been discovered! The only enemy you have is YOU!"Ignored
After several weeks of succesfull trading with this method, i decide to post it because I'm sure that some of you can find it helpful and others can improve it.
You can find the method in the pdf attached.
Feel free to test it and all your remarks, opinions are welcome.
8/08/2006 - a new version of the pdf thanks to the commentsIgnored
DislikedOrangeRoshan.......the waiting and the teasing is killing me.....lol
thankyou for taking time to help us newbie.....have a nice weekendIgnored
DislikedIts sooner tha you think.
Here it is. I hope this will fit your trading style. Anyone would like to make an EA for this?
Make Pips not War!Ignored
DislikedOrange, thanks for the pdf summary. I think the method is excellent and in forward testing it works very well. However, I cant agree with your exit strategy. Exiting 50% of your size after 10 pips when trading off the hourly is seriously cutting your profits short. Instead, you should be riding the trend until the market tells you to get off (new dot appearing in the case of this method). Personally, I exit according to the pair that I am trading. As a general guide, for Cable, USD/JPY, USD/CHF and GBP/JPY, I would have 30 SL and 60 TP1 (Scale out 50% of size; move stop to b/e and let remaining 50% run to secondary signal of trend change). For the other pairs, I would have SL 20 and TP1 40.
As satisfiying as it may seem to bag 10 pips, you are limiting yourself in the long run, particularly if you are trading off the hourly.
Just my 0.02Ignored