What works, and what doesn't | Page 6 | Forex Factory

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What works, and what doesn't

  • #101
  • Oct 7, 2015 8:26am Oct 7, 2015 8:26am
Quoting Mingary
{quote} I find that I would rather take a very small risk on a high pip value than a bigger risk on a low pip value
There is nothing wrong with a 200pip stop on EURGBP or a 20 pip stop on GBPNZD!
If you are good at something, never do it for free--Joker
  • #102
  • Oct 7, 2015 8:33am Oct 7, 2015 8:33am
Quoting Techanalyst
There is too much philosophy on this thread. Can we please stick to trading and posting charts and ideas. Thank you.
Quoting mvp77
{quote} Thats the problem of many threads on FF. Too much philosophy bullshit.
Hmm, its quite the opposite.

What is there to discuss about trading if not the mental or philosophical aspects? All the technical and analytical aspects of trading are basically the same. There is nothing to discuss.

Every trading method that works and will continue to work simply does these few things:
- Be long while price is going up. Get out when it begins to go down.
- Be short while price is going down. Get out when it begins to go up.
- Keep bets small and within the comfort level of the trader.

Thats all there is to it. The different trading techniques that work are all just different flavours of this. Discussing charts, specific trades and what not are redundant. They revolve around the same unchanging concept perceived through a subjective metaphor. Even then, such discussions tend to involve a heavy dose of personal bias and wishful thinking.
  • #103
  • Oct 7, 2015 8:48am Oct 7, 2015 8:48am
What about me, I have been using many indicators and rules for trading. I want to tell you about Bollinger Bands. This is very good indicator, because he shows us when the graph may be turned. When line of your graph cross the bollinger line, you know what line of graph will change his behavior. And one of my favorite indicator is oscilators. This indicator can tell ypu about change of behavior of market too. This two methods make mistakes too rarely.
  • #104
  • Oct 7, 2015 9:15am Oct 7, 2015 9:15am
Quoting Atokys
Every trading method that works and will continue to work simply does these few things:
- Be long while price is going up. Get out when it begins to go down.
- Be short while price is going down. Get out when it begins to go up.
Could you bring a couple examples about this? Its easier to say than actually doing consistently.
  • #105
  • Oct 7, 2015 9:17am Oct 7, 2015 9:17am
Quoting Mag357
{quote} Could you bring a couple examples about this? Its easier to say than actually doing consistently.
As in, you want me to describe a specific method?
  • #106
  • Oct 7, 2015 9:24am Oct 7, 2015 9:24am
Quoting Atokys
{quote} As in, you want me to describe a specific method?
Anything that can help to overcome a 50/50 + commissions bet.
  • #107
  • Oct 7, 2015 9:28am Oct 7, 2015 9:28am
Quoting Mag357
{quote} Anything that can help to overcome a 50/50 + commissions bet.
I don't know what that means but ok heres an idea:
- When daily price closes above the high of the past 100 days, go long. Trail the stop each day from the low of the past 100 days.
- Opposite for shorts.
- Keep your bets at a tolerable size.
  • #108
  • Oct 7, 2015 9:33am Oct 7, 2015 9:33am
Quoting jmn5611
{quote} There is nothing wrong with a 200pip stop on EURGBP or a 20 pip stop on GBPNZD!
.. i see what you mean.
By high pip value I meant to say for example $ 100.00 per pip and low pip value $ 1.00 per pip.
  • #109
  • Oct 7, 2015 10:17am Oct 7, 2015 10:17am
Quoting Atokys
{quote} {quote} Hmm, its quite the opposite. What is there to discuss about trading if not the mental or philosophical aspects? All the technical and analytical aspects of trading are basically the same. There is nothing to discuss. Every trading method that works and will continue to work simply does these few things: - Be long while price is going up. Get out when it begins to go down. - Be short while price is going down. Get out when it begins to go up. - Keep bets small and within the comfort level of the trader. Thats all there is to it. The...
Disagree. More work, less talk. We need more charts here. A lot of philosophy on this thread. Posting charts will give everyone a better view of what is going on. So far all I've seen, is people posting experiences about EA's and so on. We need more charts with explanations.
  • #110
  • Oct 7, 2015 10:22am Oct 7, 2015 10:22am
I had two lots open. Profit target were: 1.12048 and 1.12020. It did not reach those profit targets but it touched 1.12127. I closed them manually. Happy trading.
Attached Image(s) (click to enlarge)
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  • #111
  • Oct 7, 2015 10:33am Oct 7, 2015 10:33am
O! I think what you are right about trading with comfortable size. If you open order with big size, you have risk to lose all your funds very quickly. And you are right about that you trail the stop-losses, because it making an insurance for you. I want add one more rule of good trading...It is that trader should make a ladder of pending orders. These orders will be open step by step.
  • #112
  • Oct 7, 2015 10:37am Oct 7, 2015 10:37am
Quoting Techanalyst
{quote} Disagree. More work, less talk. We need more charts here. A lot of philosophy on this thread. Posting charts will give everyone a better view of what is going on. So far all I've seen, is people posting experiences about EA's and so on. We need more charts with explanations.
No, I think what we need is a story. Enjoy:

The Jademaster

One cold winter morning a young man walks five miles through the snow. He knocks on the Jademaster's door.
The Jademaster answers with a broom in his hands.
"Yes?"
"I want to learn about Jade."
"Very well then, come in out of the cold."
They sit by the fire sipping hot green tea. The Jademaster presses a green stone deeply into the young man's hand and begins to talk about tree frogs. After a few minutes, the young man interrupts.
"Excuse me, I am here to learn about Jade, not tree frogs."
The Jademaster takes the stone and tells the young man to go home and return in a week. The following week the young man returns. The Jademaster presses another green stone into the young man's hand and continues the story. Again, the young man interrupts. Again, the Jademaster sends him home. Weeks pass. The young man interrupts less and less. The young man also learns to brew the hot green tea, clean up the kitchen and sweep the floors. Spring comes.
One day, the young man observes, "The stone I hold is not genuine Jade."
I lean back in my chair, savoring the story. My student interrupts.
"OK. OK. That's a great story. I don't see what it has to do with making money. I come to you to find out about the markets. I want to learn about the bulls and the bears, commodities, stocks, bonds, calls and options. I want to make big money. You tell me a fable about Jade. What is this? You ..."
"That's all for now. Leave those price charts on the table. Come back next week."
Months pass. My student interrupts less and less as I continue the story of The Trader's Window.

-from The Trader's Window,
Ed Seykota
  • #113
  • Oct 7, 2015 10:45am Oct 7, 2015 10:45am
Quoting Atokys
{quote} No, I think what we need is a story. Enjoy: The Jademaster One cold winter morning a young man walks five miles through the snow. He knocks on the Jademaster's door. The Jademaster answers with a broom in his hands. "Yes?" "I want to learn about Jade." "Very well then, come in out of the cold." They sit by the fire sipping hot green tea. The Jademaster presses a green stone deeply into the young man's hand and begins to talk about tree frogs. After a few minutes, the young man interrupts. "Excuse me, I am here to learn about Jade, not tree...
Go back to babypips website or something similar. Learn everything as you can there. When you do, come back here and start posting charts with explanations. This thread doesn't look like it's for philosophy and so on. You can tell by the name of the thread. This is to post what works while trading and what doesn't simple. But I did like the story.
  • #114
  • Oct 7, 2015 10:47am Oct 7, 2015 10:47am
Quoting Techanalyst
{quote} Go back to babypips website or something similar. Learn everything as you can there. When you do, come back here and start posting charts with explanations. This thread doesn't look like it's for philosophy and so on. You can tell by the name of the thread. This is to post what works while trading and what doesn't simple. But I did like the story.
Sorry im new to forex. Any tips for grabbing pips off the 5m chart? Do pros use stoploss?
  • #115
  • Oct 7, 2015 10:48am Oct 7, 2015 10:48am
Quoting Techanalyst
{quote} Disagree. More work, less talk. We need more charts here. A lot of philosophy on this thread. Posting charts will give everyone a better view of what is going on. So far all I've seen, is people posting experiences about EA's and so on. We need more charts with explanations.
Why do you need charts here?
The Market aren't driven 100% by technical.
You can't make an indicator with Supermario lies or G8 meeting, Greece in-out circus, FED
I want to buy PATIENCE
  • #116
  • Oct 7, 2015 10:56am Oct 7, 2015 10:56am
Quoting matheszabi
{quote} Why do you need charts here? The Market aren't driven 100% by technical. You can't make an indicator with Supermario lies or G8 meeting, Greece in-out circus, FED
How do you expect to trade and to teach new traders if you don't have a chart? How else are you going to trade if there is no chart in front of you? We need charts with explanations. That is all I'm saying.
  • #117
  • Oct 7, 2015 10:59am Oct 7, 2015 10:59am
Quoting Atokys
{quote} Sorry im new to forex. Any tips for grabbing pips off the 5m chart? Do pros use stoploss?
No problem, no need to apologize we are all here to discuss trading. I use stop loss on any charts. As for trading on smaller time frames look up"price action in day trading by dadas" very good mentor. It's here on forexfactory he has his own thread. There is a lot of explanation there in writing and charts. He trades on smaller time frames. Always use stop loss that is my advice.
  • #118
  • Oct 7, 2015 11:05am Oct 7, 2015 11:05am
Quoting Atokys
{quote} No, I think what we need is a story. Enjoy: The Jademaster One cold winter morning a young man walks five miles through the snow. He knocks on the Jademaster's door. The Jademaster answers with a broom in his hands. "Yes?" "I want to learn about Jade." "Very well then, come in out of the cold." They sit by the fire sipping hot green tea. The Jademaster presses a green stone deeply into the young man's hand and begins to talk about tree frogs. After a few minutes, the young man interrupts. "Excuse me, I am here to learn about Jade, not tree...
great love it
we don't predict, we only ride
  • #119
  • Oct 7, 2015 11:05am Oct 7, 2015 11:05am
Quoting Techanalyst
{quote} How do you expect to trade and to teach new traders if you don't have a chart? How else are you going to trade if there is no chart in front of you? We need charts with explanations. That is all I'm saying.
What technical analysis you do here?
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD.lmxM1.png Size: 66 KB

100 pip on eur/usd in the M1 chart: in 1 minute

Teaching new traders, well definitely should read this thread, but shouldn't start with this one, I think this one is for medium, advanced players
I want to buy PATIENCE
  • #120
  • Oct 7, 2015 11:08am Oct 7, 2015 11:08am
Quoting Techanalyst
{quote} Go back to babypips website or something similar. Learn everything as you can there. When you do, come back here and start posting charts with explanations. This thread doesn't look like it's for philosophy and so on. You can tell by the name of the thread. This is to post what works while trading and what doesn't simple. But I did like the story.
You have a long way to go........
The technical stuff is only small part of the puzzle. The really big big thing in trading is the inner game. This is where people fail. All technicals (platforms, indicators, software...systems, methods) are just tools. Some are a little bit better than others, but in the end they are just tools. Nothing more. The tool can be very useful and do wonders in hands of the skilled, and can be completely useless in the hands of the unskilled amateurs.
Don't be like this guy:
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