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Lost in the Tunnel...

  • #481
  • Aug 4, 2006 7:26pm Aug 4, 2006 7:26pm
Could you post the details about these losses? Maybe we can learn from each others mistakes.


Thanks.


Quoting miketoll
this is a cry for help...
i took some trades now (about 6) and 4 of them were wrong.. I did follow the rules but somehow they reached the stop level and then reversed (this happend often).
Where do you set stop loss (approximately) and how much time give you the trend to develop?
Greets mike
  • #482
  • Aug 4, 2006 8:45pm Aug 4, 2006 8:45pm
Quoting miketoll
this is a cry for help...
i took some trades now (about 6) and 4 of them were wrong.. I did follow the rules but somehow they reached the stop level and then reversed (this happend often).
Where do you set stop loss (approximately) and how much time give you the trend to develop?
Greets mike
I agree with Bonemeister, post a chart of a couple of your trades when they go wrong. Someone here will tell you what strategy you could have used.

Whipsaws suck.

That's why I propose starting a new currency market where they will be outlawed.
Bundy's status today: "Waiting..."
  • #483
  • Aug 6, 2006 3:29pm Aug 6, 2006 3:29pm
Hi!
Like HeavyJ already said, I started a thread in which I also backtested the 4h method. I have Januar, June and July 2006 backtested with all trades explained and with notes here, so please take the time if you are interested and check it out.
The mechanical trading backtests do NOT! use stops, but assume that you are there for every 4h candle close to manually judge on a slope change, that you will exit. There is no need for stops this way, as it is all signal based.

The entering early to not miss 50 pips works against you, too, trust me. Unless it is news making the surge past the neutral line, trading on a "hopeful" candle close price in the FUTURE should only be done if you have traded forex for years and know what's going on, and not in the chasing of pips. Chasing pips loses money and boy do I know.
As for 4 out of 6 trades losing : download my attached txt files, you will see how even just one winner out of 6 trades makes a massive profit. The worst drawdown month on a trend changing week out of the three months runs -45 pips TOTAL! For a full month. After the month before doing over a thousand pips. Yes, 1k. So please take the time to check out the thread and the log/backtests, because I am bound to have made a mistake or two perhaps. It does require you to use the same demo platforms to check.

Pips are counted 1 pip per 1 lot used in case you wonder how I calculated. So if you make 1 pip profit with 3 lots, it counts 3x 1 = 3 pips and so on.
This makes for a precise calculation and normalized results.

Any input would be appreciated!
Trust price. Know yourself.
  • #484
  • Aug 11, 2006 2:15pm Aug 11, 2006 2:15pm
i am using the file called FF Tunnel Chart.mq4

In the screenshot attached...a warning is issued on the top right hand corner.. "trade only if price is > 1.8972 or < 1.8875"

How should i interpret this ?

I am new to using this Vegas system. Please help.
Attached Image
  • #485
  • Aug 11, 2006 2:39pm Aug 11, 2006 2:39pm
Quoting radiohead
i am using the file called FF Tunnel Chart.mq4

In the screenshot attached...a warning is issued on the top right hand corner.. "trade only if price is > 1.8972 or < 1.8875"

How should i interpret this ?

I am new to using this Vegas system. Please help.
Hi Radiohead

This is a "50 pip rule" flag from the self same filter in the tunnel docs.

This means that the 8 & 55 MAs as well as the price are all within 50 pips of each other. FF tunnel Calculates this "exclusion band for you" it has been suggested by Vegas that putting on trades in this area are not profitable over the long haul. When the price and MAs move out of this zone the message turns to "OK to Trade"....

Good Journey
HeavyJ
HeavyJ -"Posterboy for Spellchecker!" "Will work for pips!"
  • #486
  • Aug 11, 2006 6:25pm Aug 11, 2006 6:25pm
Quoting HeavyJ
Hi Radiohead

This is a "50 pip rule" flag from the self same filter in the tunnel docs.

This means that the 8 & 55 MAs as well as the price are all within 50 pips of each other. FF tunnel Calculates this "exclusion band for you" it has been suggested by Vegas that putting on trades in this area are not profitable over the long haul. When the price and MAs move out of this zone the message turns to "OK to Trade"....

Good Journey
HeavyJ

Thanks for replying.

So if it is greater than say price X.. shud i go long or short ? and if it is less than Y... shud i go long or short? What should these entry positions based on ?
  • #487
  • Aug 13, 2006 6:29am Aug 13, 2006 6:29am
Quoting radiohead
Thanks for replying.

So if it is greater than say price X.. shud i go long or short ? and if it is less than Y... shud i go long or short? What should these entry positions based on ?
RH,

I assume that you have read the 4hr Momentum Tunnel doc by Vegas.

If not go to the first post in this thread Here and scroll down to the bottom and download it in Word File format.

After reading and studying the file you should be clear as when to enter and exit. The FF Tunnel indicator is a great tool for someone who understands the method. You will not be successful if someone tells you how to enter based purely on lights going on or off in some indie!

There are "experts" on using this method (not me) who post regularly in this thread. I suggest that you read the 4hr Tunnel doc above and then scrub this thread for more insight. The 4hr tunnel method is great if you have patience.

Good Journey
HeavyJ
HeavyJ -"Posterboy for Spellchecker!" "Will work for pips!"
  • #488
  • Aug 14, 2006 1:55pm Aug 14, 2006 1:55pm
i just have too many questions about this tunnel trading.

i dont consider myself to be a novice, but i know i am far, far away from being skilled in this art.
i really want to have a deep understanding of a proven method, and have decided to plump for the veags 4 hour, but as simple as it appears on the face of it..... well you know the rest!!

so.... i have now come to the conclusion that i am going to have to get a some real grounding and solid mentoring and join James's group...... i think!

but before i do, i cant get past this feeling of ........ "here i go again, looking for somebody else to give me the answers, you know it will end in tears, money spent, answers sought....... butno result"

i know you guys have all thrown money away on such things before and now have the same inherent feelings...... please explain to me why this is different.
PS. i already read all the testimonials on the site..... but every web site in the world has those.
Its gonna happen, it will happen.....i know!
  • #489
  • Aug 14, 2006 8:52pm Aug 14, 2006 8:52pm
Quoting rockrat
i know you guys have all thrown money away on such things before and now have the same inherent feelings...... please explain to me why this is different.
PS. i already read all the testimonials on the site..... but every web site in the world has those.
You're right, we all know where you're coming from!

Have a look at the number of subscribers who have been preached to and converted. They come back to the main forum and encourage the rest of those that are interested to give it a shot too. I feel as if the past few days I've joined this promotional bandwagon too!! LOL

Problem is you have no idea if they are planted do you?

Besides Dials tunnel trading method you're after, James also has some high probabilty trading methods that are so frightingly simple they will help pay for the membership themselves.

I CAN tell you...

...if you have a fair knowledge base already, but you are having trouble putting it together and controlling yourself .(Fiji's excellent articles)...

...if you need something that will help you be "more sure" about your entries etc... (even in your existing methods)

...if you would like a number of proven methods available in your toolbox to play with in different markets and timeframes...

--Then this stuff can help!
Bundy's status today: "Waiting..."
  • #490
  • Aug 14, 2006 9:41pm Aug 14, 2006 9:41pm
Quoting rockrat
i have now come to the conclusion that i am going to have to get a some real grounding and solid mentoring and join James's group...... i think!

but before i do, i cant get past this feeling of ........ "here i go again, looking for somebody else to give me the answers, you know it will end in tears, money spent, answers sought....... butno result"
Hi rockrat,

Please don't "think" you want to join the PF; "know". If you have any doubts, hesitation or reservations, then please do yourself a favor and do not join.

But, if you do join, expect to WORK. We provide answers to questions, yes, but we won't spoon feed you; we'll provide support and encouragement when you're down, but we wont carry you. You can lean on us, but only while standing on your own two feet. We expect your questions to gradually become more complex as time passes. If they aren't, then you're not applying yourself. Our objective is to provide an environment where traders can become self sufficient more quickly than they could on their own. If needed, we'll even kick your butt for you if you desire. Not literally of course, and certainly not meanly, but with tough love at times. Douglas is the drill seargent, Jim is a cuddly teddy bear, and I fall somewhere in between. So you have three different personalities to choose from. Pick who you relate to best, and ask them to guide you. We'll point out the trail, give directions and warn of hazards, but we expect you to walk the path with your own feet. We'll be behind you every step of the way. And if you ever feel we're not giving you what you need, then you have permission to kick OUR butts! (with love of course).

Dial
sxaxlxvxaxtxixoxnxbxyxgxrxaxcxexdxoxtxoxrxgx
  • #491
  • Aug 15, 2006 8:56am Aug 15, 2006 8:56am
well, i must say that the response from dail and bunny is excellent. I like the idea that more skilled trainers can and will support me in coming to the right decisons, but ensuring that I come to them in the correct manner, without spoonfeeding me.

i am about to go on holiday and will sign up on my return sept 5th to maximise my month.

if you dont mind, can i confirm what i am currently seeing on the vegas 4 hour charts, and three trades i have just made.
i see the "hook" has been formed on the 4 houir chart on cable (long), eur/usd (long) and usd/chf (short).
therefore i have open all three trades in those directions
Have i done this correctly. The 50 pip rule does not apply.
Its gonna happen, it will happen.....i know!
  • #492
  • Aug 15, 2006 9:15am Aug 15, 2006 9:15am
Quoting diallist
Hi rockrat,

Please don't "think" you want to join the PF; "know". If you have any doubts, hesitation or reservations, then please do yourself a favor and do not join.

But, if you do join, expect to WORK. We provide answers to questions, yes, but we won't spoon feed you; we'll provide support and encouragement when you're down, but we wont carry you. You can lean on us, but only while standing on your own two feet. We expect your questions to gradually become more complex as time passes. If they aren't, then you're not applying yourself. Our objective is to provide an environment where traders can become self sufficient more quickly than they could on their own. If needed, we'll even kick your butt for you if you desire. Not literally of course, and certainly not meanly, but with tough love at times. Douglas is the drill seargent, Jim is a cuddly teddy bear, and I fall somewhere in between. So you have three different personalities to choose from. Pick who you relate to best, and ask them to guide you. We'll point out the trail, give directions and warn of hazards, but we expect you to walk the path with your own feet. We'll be behind you every step of the way. And if you ever feel we're not giving you what you need, then you have permission to kick OUR butts! (with love of course).

Dial
Whoohooo...I LOVE this response. Some posted a thread in the public forum asking what the PF is all about.....PLEASE, PLEASE find that thread and post this response verbatim to it!!!
WOW!!....I am so glad to be a part of this awesome community.!!
  • #493
  • Aug 15, 2006 9:56am Aug 15, 2006 9:56am
Quoting rockrat
if you dont mind, can i confirm what i am currently seeing on the vegas 4 hour charts, and three trades i have just made.
i see the "hook" has been formed on the 4 houir chart on cable (long), eur/usd (long) and usd/chf (short).
therefore i have open all three trades in those directions
Have i done this correctly. The 50 pip rule does not apply.
Yes, that is right. Just be aware that these three currencies are closely correlated, so if you trade all three at the same time, you need to reduce your position size. Good job!
sxaxlxvxaxtxixoxnxbxyxgxrxaxcxexdxoxtxoxrxgx
  • #494
  • Aug 15, 2006 10:21am Aug 15, 2006 10:21am
Quoting rockrat
well, i must say that the response from dail and bunny is excellent. I like the idea that more skilled trainers can and will support me in coming to the right decisons, but ensuring that I come to them in the correct manner, without spoonfeeding me.

i am about to go on holiday and will sign up on my return sept 5th to maximise my month.

if you dont mind, can i confirm what i am currently seeing on the vegas 4 hour charts, and three trades i have just made.
i see the "hook" has been formed on the 4 houir chart on cable (long), eur/usd (long) and usd/chf (short).
therefore i have open all three trades in those directions
Have i done this correctly. The 50 pip rule does not apply.


Before I start...I'm a newbie, so please forgive my ignorance.

I too have gone long on GBP/USD.

why?

-hook back formed on the 4H as you mention
-weekly momentum is to buy, go long, (little unsure about rate of change of monemtum though, seems to be decreasing, due maybe to uncertainty?)

my concerns.

-economic news! keep messin wit the system!
PPI indicate go long GBP
TIC go short (i understand one has more influence then the other)
but then add to the mix tomorrows GBP releases.

So leads me to feel a little mad, cause one minute I'm up the next I'm down.

Would a more experienced vegas 4H trader wait for less volatile entry? I.e after tomorrow.....
but also.....
if in a 4H vegas trade...........HOW DO YOU DEAL WITH THE NEWS!!!!
  • #495
  • Aug 15, 2006 10:58am Aug 15, 2006 10:58am
well, not a happy bunny!!
i have to admit i was ready for a bit of a roasting james, to my trading direction, as though the cable trade was correct at the hook with the long term weekly trend, but both the eur and the swiss trades taken were against the weekly trend.
I thought you'd tell me off for that!

the swissy trade has since hit my 35 pip stop,
and the other two are not going the right way currently.

i agree with the previous posters comments to news, though in the vegas doc it does state that on major news days we dont trade, but suggests only NFP is the one thats a major.
Its gonna happen, it will happen.....i know!
  • #496
  • Aug 15, 2006 11:53pm Aug 15, 2006 11:53pm
No, I wouldn't fuss at you for that. Even Vegas has told me that he uses discretion to oppose the Weekly Momentum trend sometimes. This is especially true during a trend change, and when the weekly chart is stuck in a range. In those instances, the WM lies it's butt off! Truth be told, I became so fed up with the WM that I've dropped it from consideration and am now using the GMMA on both the weekly and daily charts to determine trade direction.

BTW, I'm Charles. James16 is James (Jim)

Dial

Quoting rockrat
well, not a happy bunny!!
i have to admit i was ready for a bit of a roasting james, to my trading direction, as though the cable trade was correct at the hook with the long term weekly trend, but both the eur and the swiss trades taken were against the weekly trend.
I thought you'd tell me off for that!

the swissy trade has since hit my 35 pip stop,
and the other two are not going the right way currently.

i agree with the previous posters comments to news, though in the vegas doc it does state that on major news days we dont trade, but suggests only NFP is the one thats a major.
sxaxlxvxaxtxixoxnxbxyxgxrxaxcxexdxoxtxoxrxgx
  • #497
  • Aug 16, 2006 10:56am Aug 16, 2006 10:56am
For diallist and HeavyJ
Please do yet pictures from the graphs of currencies for a few months and draw on them the entrances and outputs and on what foundation you did(comments) it. From previous pictures all is clear and is evident signs. Thank you.
  • #498
  • Aug 17, 2006 8:55pm Aug 17, 2006 8:55pm
Is there something special you have to do after you pay your money to be able to get into the site?

It just keeps sending me back to the pay screen.
  • #499
  • Aug 17, 2006 9:22pm Aug 17, 2006 9:22pm
Quoting droesparky
Is there something special you have to do after you pay your money to be able to get into the site?

It just keeps sending me back to the pay screen.
You should get a payment confirmation email from the payment processor. Jim will get a copy and will respond with another email which contains a link that will give you access. (Jim, correct me if that's not exactly right).
sxaxlxvxaxtxixoxnxbxyxgxrxaxcxexdxoxtxoxrxgx
  • #500
  • Aug 18, 2006 6:19am Aug 18, 2006 6:19am
Dial

What is GMMA?

parttime
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