More simple is impossible | Page 172 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

SIMPLE EA for a simple method needed!! 2 replies

Trading is this Simple? Finally Explained simple and clearly! 46 replies

More easy is impossible 17 replies

long-run profits impossible with short-term trading? 39 replies

Attachments: More simple is impossible
Exit Attachments

More simple is impossible

  • #3,421
  • Sep 20, 2015 10:46am Sep 20, 2015 10:46am
Quoting dee50
Based on what Matomi and PhillipineFX were discussing, here is a very basic spreadsheet showing a Money Management plan on how to take a $500 account to a regular income account in 18 months trading the DAX. Some one posted the template a little while ago and I have not made any changes to the basic formula so it can be used for currencies which it was originally intended for. The column marked "Lot Size" the lot sizes are shown as "0.1" which for the DAX would actually be 1 lot size, increasing to 0.2 = 2 x DAX lots, etc. The plan is to start trading...
Dee50, great example, I very appreciate that you believe in simplier ways of trading, too. You know, it is in every trading book, in every thread on every forum and I think, that this one sentence has rarely some sense - Keep it stupid simple. The only problem is, that it want some time to understand it. Before 20 months when I started with trading, I really did not believe that one day I will create my own strategy, and now I have an EA robot. It is natural want as much as it is possible to catch from market, but a multi-contracts will bring you money, too, and you must not take a hundreds of pips. There are different views on the MM, so everybody have a options for choice. We will see how will EA going on new demo account (IC Markets) and ASAP we want to put it into live account. I will put some results from demo to my thread in near future
  • #3,422
  • Edited 11:01pm Sep 20, 2015 6:17pm | Edited 11:01pm
Quoting dee50
Sorry but margin requirements for trading CFDs are actually quite reasonable, that is what makes trading CFDs so attractive. here is an example from Pepperstone based on just a 1:100 leverage. The margin is calculated based on the price of the Index or commodity at the start of the trading day, and is fixed for the day. You can see that for 1 contract of the DAX (GER30) requires 113.51 or $128.31 depending on what currency you fund your account in, also note the example is based on a price of 11351 Dax points, as price changes so will the margin...
Thx Dee for clarifying the margin requirements for the Dax30. I am going to attempt to explain a margin plan to show how few pips you really need per week to succeed here. I did not come up with this myself. It came from a very controversial FF member who I respect greatly.
The Dax30 will paint around 500-1000 10 pip renco bricks per week. All you need is one of those bricks net per week. JUST ONE!!!!
Lets assume an opening of 10,000. That requires E100 account balance per lot traded at 100:1... Trade 25 lots for a net one brick[10 pips] per week and you now have E2,500 per week for rice etc...
If that`s to much excitement for you then scale it back to 10:1 margin. If you feel 100:1 is for pussies then take advantage of the max 500:1 margin.

The point is you do not need the +100 pip count Dee cracks off daily to make money. Dee`s level of mastery is a lofty goal and one worth striving for. In the mean time just wait for that sweet set-up and jump on......once a week....
  • #3,423
  • Sep 21, 2015 4:38am Sep 21, 2015 4:38am
Quoting dee50
{quote} Thank you very, very, very much. It is greatly appreciated, I have put PDFs together before so I understand just how much time and effort goes into compiling such a document, it is a lengthy process.
Glad I can help

Quoting dee50
Paqui, despite being back at school managed to trade. Now I will be directly responsible for disrupting her education. {image} {image} {image}
Truly inspiring. I printed this and I placed it on my wall.
  • #3,424
  • Sep 21, 2015 12:03pm Sep 21, 2015 12:03pm
GER30.+33+84.+24+42.+59+26.+62+92.+20+10+15.+37+86.+69. Good day for trading. There was a tiny divergence at the bottom of the chart to signal the reversal off the S&R level, I closed my running short at that point and started looking for the 123 to confirm the reversal, that actually showed up clearer on the 5 pip chart, and then we got the big 123 on the 10 pip. Then just look for the ceiling and that had to be 10,000, Divergence on the 10 pip and a 2b with divergence on the 5 pip confirmed reversal and down we went.

OH, Just for a change I thought I would concentrate on my trading, that's why you have the days results in 1 go.

That mess of small trades in the middle, i was convinced we had a Dbl Top in play so I was being clever and I kept shorting, if I had looked at the 4 hr chart i would have realized i was wrong.
Attached Image (click to enlarge)
Click to Enlarge Name: GER30+33+84.+33+24+42.+59+26.+62+92.+20+10+15.+37+86.+69 210915.png Size: 34 KB
Cut your Losers short and let your Winners run.
  • #3,425
  • Sep 21, 2015 12:39pm Sep 21, 2015 12:39pm
Fantastic Trading !!!,

Very inspiring and really appreciate the explanation as well

Cheers... Des
  • #3,426
  • Sep 21, 2015 1:51pm Sep 21, 2015 1:51pm
Quoting dee50
GER30.+33+84.+24+42.+59+26.+62+92.+20+10+15.+37+86.+69. Good day for trading. There was a tiny divergence at the bottom of the chart to signal the reversal off the S&R level, I closed my running short at that point and started looking for the 123 to confirm the reversal, that actually showed up clearer on the 5 pip chart, and then we got the big 123 on the 10 pip. Then just look for the ceiling and that had to be 10,000, Divergence on the 10 pip and a 2b with divergence on the 5 pip confirmed reversal and down we went. OH, Just for a change I thought...
659 P-I-P-S
Attached Image

Energy, frequency and vibration.
  • #3,427
  • Sep 21, 2015 2:15pm Sep 21, 2015 2:15pm
Quoting dee50
GER30.+33+84.+24+42.+59+26.+62+92.+20+10+15.+37+86.+69. Good day for trading. There was a tiny divergence at the bottom of the chart to signal the reversal off the S&R level, I closed my running short at that point and started looking for the 123 to confirm the reversal, that actually showed up clearer on the 5 pip chart, and then we got the big 123 on the 10 pip. Then just look for the ceiling and that had to be 10,000, Divergence on the 10 pip and a 2b with divergence on the 5 pip confirmed reversal and down we went. OH, Just for a change I thought...
If by days you mean 2 and by results you mean everyone cryin coz you nailed it again. Then yes very nice change.

So what was the right strategy for the mess in the middle? Wait for pullback to round number?

Anyway thank you for your post. Very inspirative and a so much knowledge in there.
  • #3,428
  • Edited 4:55am Sep 22, 2015 4:05am | Edited 4:55am
I promised myself I would not post again until I improved on my drawdown and % of winning trades. Still have some way to go to achieve my aim but today is a very good day with 100% winning trades and less than 15 pip drawdown. Of course, the momentum down helped. Re-reading Dee's posts last night certainly helped put me in right frame of mind.

First trade, I thought price would move up to next S/R but as was already in OB zone, was cautious. Out at BE. Then saw a short position, but price stalled so again got out for BE.
Finally saw a clear sell signal. Entered on seeing a LH on 5pip renko. Price retraced a little. Entered another lot at a better price as all signals pointed down. Managed SL so even though, had two trades open, loss was contained.
Entered two more short trades. Momentum was very strong; was cautious around BRN and ready to get out but price kept going down.
I've closed all trades now for BEx 2, +186, +195, +17, +141.
Whilst number of pips is wonderful, I am happier with having maintained a good state of mind, taking trades and exit as price action dictates and not giving pips back.
I think price is likely to go down further but not without pullback and I have to go out anyway.

The two teenagers trade record are an inspiration. Thanks a bunch Dee
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 133 KB


Ok so I was right about price going down further but wrong about the pullback! Hey ho. Price reached the first of my extreme TP (but no more open trades) and looks like it might reach the second....
Yep, second extreme TP hit!
  • #3,429
  • Sep 22, 2015 4:20am Sep 22, 2015 4:20am
Quoting mact4
I promised myself I would not post again until I improved on my drawdown and % of winning trades. Still have some way to go to achieve my aim but today is a very good day with 100% winning trades and less than 15 pip drawdown. Of course, the momentum down helped. Re-reading Dee's posts last night certainly helped put me in right frame of mind. First trade, I thought price would move up to next S/R but as was already in OB zone, was cautious. Out at BE. Then saw a short position, but price stalled so again got out for BE. Finally saw a clear sell...
Really nice to see you back and in the swing of things. Couple of Home Runs and the crowd has gone crazy for you, couple of Nubiles throwing themselves at you whispering their room numbers in your ear, wow wait a minute, that's my dream, you get your own.
Cut your Losers short and let your Winners run.
  • #3,430
  • Sep 22, 2015 4:38am Sep 22, 2015 4:38am
GER30. +107+182. Todays start was a no brainer with the VW situation, but there were technical reasons for taking the trade. Div at S&R & BRN on the 10 pip and a 2B + div on the 5 pip. A look at the Index showed all RED and a quick google of "VW Emisions scandal" pretty much confirmed where the DAX was going. I picked 9800 as the final TP and set my 1st TP at roughly 50% of the total pips, I opted for the 61.8% retr even though 50% was a confluence level with a BRN, because 61.8% is the fib of last resort if price was going to carry on down it would blast thru this level so why give pips away? I put the next support level at 9628 but I did not think that price would get to that today, now I am not so sure, I think some of the Robber Banks might just be taking advantage of the situation and are driving the price down.
Price has just bounced off the 127% ext and the area of BRN 9650 & 161.8% Ext and S&R could be the next support. I would ask Friska this is his area of expertise
Attached Image (click to enlarge)
Click to Enlarge Name: GER30+107+182 220915.png Size: 42 KB
Cut your Losers short and let your Winners run.
  • #3,431
  • Edited 5:20am Sep 22, 2015 5:10am | Edited 5:20am
Well I'll be buggered. price has made it down to 9650 and the index is still RED except for 1 green, but look at the volumes and we are still only half way thru the day. The times shown on the index are GMT.
What I do not get is why E.ON SE has been so heavily sold off they have had the highest volume in the red for the last couple of days, you would of thought the car manufacturers would have had the highest volume!!
This is what makes me think there is just the teeniest itsy bitsy bit of manipulation going on.
OR it could be that I do not have a clue what I am talking about.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GER30 220915.png Size: 42 KB
Click to Enlarge Name: DAX Index 220915.png Size: 77 KB
Click to Enlarge Name: Dax Index b 220915.png Size: 76 KB
Cut your Losers short and let your Winners run.
  • #3,432
  • Edited 6:08am Sep 22, 2015 5:53am | Edited 6:08am
Quoting dee50
Well I'll be buggered. price has made it down to 9650 and the index is still RED except for 1 green, but look at the volumes and we are still only half way thru the day. The times shown on the index are GMT. What I do not get is why E.ON SE has been so heavily sold off they have had the highest volume in the red for the last couple of days, you would of thought the car manufacturers would have had the highest volume!! This is what makes me think there is just the teeniest itsy bitsy bit of manipulation going on. OR it could be that I do not...
hehehe
I do not think so...

honestly I learned my lesson and I do not look much to charts dax long-term , but this is the situation that I have noted for some time.
probably with Greece elections the speculative movement he has had an excuse to speed up ... but here sure I am not have a clue what I'm talking about ....
a bounce in this area may be plausible, the price has been crushed to a period between the TL and the dwn channel, a struggle that has resulted in some bars on W with engulfing, assumed a significant prevalence of bears forces ... but as I said before, now I'm trying only stick to 1m / 15m max 4H but just a look. I left the prediction of the future to the wise and witch!
D1
Attached Image (click to enlarge)
Click to Enlarge Name: Schermata 2015-09-22 alle 12.41.49.png Size: 80 KB

W1
Attached Image (click to enlarge)
Click to Enlarge Name: Schermata 2015-09-22 alle 12.39.15.png Size: 141 KB


D_alt
Attached Image (click to enlarge)
Click to Enlarge Name: Schermata 2015-09-22 alle 13.07.50.png Size: 101 KB

if not
I expect the price to fall at least until the TL below..
nescentia necat
  • #3,433
  • Sep 22, 2015 5:58am Sep 22, 2015 5:58am
And now for something completely different. (Monty Python)

I have had a brief dialogue with a trader via PM about CFDs which is what we are all trading when we are trading the DAX.
I believe strongly that we should know and understand the tools that we use and I feel exactly the same about knowing and understanding the instruments/market that we trade, to that end here is a bit of information about CFDs as I suspect that very few of you will have investigated.

1. An explanation of what CFDs are. An Introduction To CFDs

2. An example of UK companies that specialise in CFDs. http://www.money.co.uk/cfd-trading.htm
Although many MT4 brokers now have them available as standard.

3. The market for CFDs is no where near the size of the Forex Market, it is a minnow in comparison and yet it has been around since 1974. here is an example of the financial standing of one of the largest CFD providers.

http://www.londonstockexchange.com/e...GBGBXSTMM.html

http://www.londonstockexchange.com/e.../12508976.html

Hope it helps a bit.
Cut your Losers short and let your Winners run.
  • #3,434
  • Sep 22, 2015 6:21am Sep 22, 2015 6:21am
Quoting friska
{quote} hehehe I do not think so... honestly I learned my lesson and I do not look much to charts dax long-term , but this is the situation that I have noted for some time. probably with Greece elections the speculative movement he has had an excuse to speed up ... but here sure I am not have a clue what I'm talking about .... a bounce in this area may be plausible, the price has been crushed to a period between the TL and the dwn channel, a struggle that has resulted in some bars on W with engulfing, assumed a significant prevalence of bears forces...
I tend to agree with you, except I ignore long wicks when I draw my trend lines so at the moment we could be at a channel bottom / trend line. also ADR is 387 pips for today far in excess of the average 241 pips, and there is Divergence on the 4 hr.

At this moment i would not be prepared to money on which direction we are going.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GER30Daily 220915.png Size: 64 KB
Click to Enlarge Name: GER30H4 220915.png Size: 56 KB
Cut your Losers short and let your Winners run.
  • #3,435
  • Edited 7:01am Sep 22, 2015 6:47am | Edited 7:01am
Quoting dee50
{quote} I tend to agree with you, except I ignore long wicks when I draw my trend lines so at the moment we could be at a channel bottom / trend line. also ADR is 387 pips for today far in excess of the average 241 pips, and there is Divergence on the 4 hr. At this moment i would not be prepared to money on which direction we are going. {image} {image}
This is a point on which I have reflected many times ...
dax tends very often to do these long shadows and deny the direction, I also tend not consider them,
or rather to take greater attention of the closures, but often when I go to pull the lines I realize, in this case, which coincide with areas of shadow denial.
mah.., go figure ...

I learned to take much into consideration the Stoch, and read it much more carefully.
a very powerful indicator
I'm slow.. but sooner or later I get there...
Attached Image (click to enlarge)
Click to Enlarge Name: Schermata 2015-09-22 alle 13.54.31.png Size: 39 KB
nescentia necat
  • #3,436
  • Sep 22, 2015 7:26am Sep 22, 2015 7:26am
Quoting dee50
And now for something completely different. (Monty Python) I have had a brief dialogue with a trader via PM about CFDs which is what we are all trading when we are trading the DAX. I believe strongly that we should know and understand the tools that we use and I feel exactly the same about knowing and understanding the instruments/market that we trade, to that end here is a bit of information about CFDs as I suspect that very few of you will have investigated. 1. An explanation of what CFDs are. An...
here`s another link
https://en.wikipedia.org/wiki/Contract_for_difference
  • #3,437
  • Sep 23, 2015 3:58am Sep 23, 2015 3:58am
Quoting dee50
{quote} I tend to agree with you, except I ignore long wicks when I draw my trend lines so at the moment we could be at a channel bottom / trend line. also ADR is 387 pips for today far in excess of the average 241 pips, and there is Divergence on the 4 hr. At this moment i would not be prepared to money on which direction we are going. {image} {image}
as we said yesterday, today an example,
sometimes clear sometimes not so effective ..
but a bounce after a long shadow on a support level, as strong negation, can be an indicator inversion or it is the usual gap refill ?


D1
Attached Image (click to enlarge)
Click to Enlarge Name: Schermata 2015-09-23 alle 10.58.13.png Size: 113 KB


W
Attached Image (click to enlarge)
Click to Enlarge Name: Schermata 2015-09-23 alle 11.04.58.png Size: 66 KB


now I'm running CT on PB 9700 + 200%,
but I do not know what will endure my position, very risky...
Attached Image (click to enlarge)
Click to Enlarge Name: Schermata 2015-09-23 alle 11.07.28.png Size: 36 KB
nescentia necat
  • #3,438
  • Sep 23, 2015 4:15am Sep 23, 2015 4:15am
Quoting friska
{quote} as we said yesterday, today an example, sometimes clear sometimes not so effective .. but a bounce after a long shadow on a support level, as strong negation, can be an indicator inversion or it is the usual gap refill ? D1 {image} W {image} now I'm running CT on PB 9700 + 200%, but I do not know what will endure my position, very risky... {image}
+40 ongoing
adding a short pos if break TL
Attached Image (click to enlarge)
Click to Enlarge Name: Schermata 2015-09-23 alle 11.18.04.png Size: 112 KB


EDIT
TL cut
+50 +20 out@9650
Attached Image (click to enlarge)
Click to Enlarge Name: Schermata 2015-09-23 alle 11.22.41.png Size: 67 KB
nescentia necat
  • #3,439
  • Sep 23, 2015 4:17am Sep 23, 2015 4:17am
Quoting friska
{quote} as we said yesterday, today an example, sometimes clear sometimes not so effective .. but a bounce after a long shadow on a support level, as strong negation, can be an indicator inversion or it is the usual gap refill ? D1 {image} W {image} now I'm running CT on PB 9700 + 200%, but I do not know what will endure my position, very risky... {image}
Persian Gulf forever
  • #3,440
  • Sep 23, 2015 4:30am Sep 23, 2015 4:30am
Quoting parsfx
{quote}
nescentia necat
3 traders viewing now