Damon's meat in the middle system

Good Morning:

I am sure that most people are coming here and looking at the results of my trades, seeing that I am down 41% and moving on. You are thinking that this system is not working. But here's the deal, until you start blaming yourself, rather than the system, you won't be successful in Forex. It is like saying that it was the cars fault for swerving over the center line, causing a head on collision killing a new mother and her son. Or, worse yet, blaming the alcohol, or the person who kept serving you (though not completely without blame). The victory comes when you realize that it is you and not the system that is the cause for you not being successful at Forex. And so, you will continue to jump around, looking for something the offers you everything, without having to to anything. Am I right? Raise your hand, if that is you out there? Don't lie to yourself...read the quote on my first page.

I am so much richer today, than I was when my account was up 41% from where it is today. Why, because rather than jumping around. I am surrounding myself with the tools that I need to be successful. I am not yet successful, because there are a few things I need. You see, the Forex market is forever moving, and because of that, the mentality that we should sit around and wait for one trade, then, regardless whether we win or loss, sit and wait for another, is not in fluid sync with the market. This type of trading is too slow, for once you are in the market, one should stay in until there is a profit made. This means that multiple tools are needed. Sometimes the market is even faster than than the eye, and so even the most ready person will get run over by price action.

It is not fun to get run over by price action. It is a mind blowing experience, and one that just leaves you motionless and in awe of what just happened.

That is why I am encouraging everyone to stop jumping and to stick with what you are doing. Slow down, learn it. Stop worrying about the money right now, or the pips. Recognize that you are at fault and a different system is not going to help you. Figure out who you are and how you trade, and then build the tools that are going to make you a better trade. You can't build a house without tools, and not just any tools, but house building tools. Just as you won't be successful at Forex with out tools, and not just any tools, but the tools that you understand, because they help you see price action more clearly.

But, until you stop blaming anyone and everything else, and understand that it is your own fault that you are not good a Forex, you will only prolong the time it takes until you have mastered it!

I am so close that I can taste it! But this is the time that I need to be more intricate, critical, and see clearer than I have ever had to before. This is because I am down to the minute details, and not even a 41% draw down at this stage can distract me from the precision that I need to put into the tools that will hep me build Forex into a full-time income for my family!

Enjoy the system! It is a good one.

One thing that this system needs from me is more time commitment, and more focus commitment. I am trying to trade this around the other things I need to do, and that is not working. What I need to do is get everything, all the tools, etc. in place, so that when I do have time. I can spend 6 hours at my computer and trade the complete system as it should. When I can give it my full attention, rather than trying to get lucky and hit a trade here and there which is the only way I can trade it now. So, that is where I am at. To finish getting the tools I need in place, so that everything is ready, so that I am ready go any time any place to take on the Forex market under my terms. This is a job baby, and I almost treat it like one, but more like a side job. So I need to be ready for when I can treat it like the full time (6-8 hours) endeavor it is. The trading time that I pick to trade should be 6-8 hours in length, and hey, if I can't trade during those hours, than I should not trade, as I will lose if I don't give the market my full attention. Lots to do, but really, these are the small details that remain!

For now, unless I can trade a committed amount of time where I can really trade and tie everything together; which is this system, and my zipper trading, I going to switch to the daily chart. And, on those few days a week when I can trade the complete system, I will do so like it is a real thing for me, and that I not only hope that it becomes a full time income, but give it the amount of time, as I would anything else, so that it actually becomes that full time income which I want it to be.

That is my game plan starting now. To make sure that I always am trading under winning conditions. Which has less to do with what the market is doing, and more to do with what I am doing.

Or....perhaps just to stop bouncing between taking trades on the 4hr and the 1hr bar will be enough... hmmmmm

dear damon, hope you ok. if you are trying daytraders, why not try to create a cycle on your trading. what i mean cycle is maybe you can try just catch one move in one day and stop trading, then waiting for tomorrow again do not try to take position on that same day even your system telling you to open position, because more we enter the market more we take a risk. especially day trading system. not all moving signal is true move, so just try to catch one move and take profit.
I can tell this because I have some experience on doing this. when I feel not good then I just try to catch one move in a day then close the chart relax till tomorrow again and my account grow grow and grow with only catch one move in a day
hope this useful

Your advice is always very helpful, cakrajaya. Thank you. Besides the fact that I am recovering from my cold, I am doing okay!. I hope that you are okay as well!. I hope others pay attention to you, and think about what you say much as I do. It is very good advice!

Here is the second part of the system which is the zipper trade which is something I am working with FerruFx about to get the tools I need to help spot it. I have only mentioned it a few times for many reasons which once again, because of my distracted nature, and the lack of time I have put towards the system, is my fault. I have also been in kind of tunnel vision testing out the indy versions, etc. The two system trades work in opposite directions of each other, so that if one trade fails I roll into the market right into the other. Filters are important for this kind of trading, and that is one thing I am always on the lookout for in terms of "ways to improve".

Enjoy the chart, and wish for me a good trade. As always, good trades for you!

Here is a perfect system trade on the 1hr chart, so if it breaks support at the "x", there is nothing else in the way for quite a ways down. All my lots are used up else where or I would take it myself. Good trading everyone!

Here is the third type of trade in the system, and it is the reversal trade. It can be done at any place that you think price is likely to reverse. The 4hr bar has reached my upper level support without pushing through it. As such, I went to my 15 minute chart and waited until I got a down signal using this system. These can be very tricky trades, and it is important to manage your trade keeping that in mind. However, it can be very fruitful to get in at the top or the bottom and hold it until the other side. I did not have any available lots to make this trade, so we will have to see how this trade would have ended out.

Enjoy the chart.......

One last picture for you for tonight.

Here is the e/j daily chart. It would be somewhere in here that I would think that a reversal would happen. So, I would watch the 30m and 1hr charts for down signals using this indicator. A riskier trade again, yes, but if we keep our s/l tight, we can have a losing w/l ratio and be way ahead in profit. I would be looking to take a trade, and would if I had some lots available to trade at the moment.

This is so much better now that I am looking at this as the complete system that it is rather than just the focus I had only on the indicator. Now that the indicator is done, I needed to step back again and remember that this system is not just one indicator, but a serious of well thought out trades that have to be used together, as a whole, for complete and proper success of this system.

Enjoy this last chart for the night... I will get back and respond tomorrow to see the outcomes.

this trade did not break support and so would not have been entered.

This trade would have gave us soe nice profit over night, but than would have erased all that profit by the time US session opens.

This trade also would have given us excellent profit, but would have erased all of it by the US open.

This here lies the advantage that Forex has. If you open trades and are not around to manage them, which is how I have mostly been trading, then a good trade can turn bad quickly, even before you have a chance to move it to b/e. one could use an ea, but they can be hard to dial in. That is why the best way is to trade only when you can be at your computer, watching multiple time frames on the same pair, so you can make quick deisions, or at least showing up every 4 hours to check that bars progress.

That is my deal right now. How to manage my time effectively. But, I am still recovering from my cold, so I won't get very far on it today! But, I will get to the bottom of this and find something that works for me.

This trade here was a failed zipper trade.

Hey there:

I hope that you are all having a nice weekend. I have looked at the reasons why I have been struggling with the system since it is very sound, and the only reason has to do with my time. I want to every trade to be a trend trade, and so treat it as such. This is an unrealistic expectation when I am trading that lower tf's, and that market can be very volatile. So, I let winning trades run, but they don't go anywhere, and such I end up with - pips. So I really needed to take a look at the time I have available to actually be at my computer to give my charts full attention, and when I don't. Not an easy thing to do but very much a necessity.

I may have found a solution, and I have already set up my charts with the proper pairs, tf's and templates. See, I wanted to let trades play out, but also be able to trade short term. What I realized is that I needed to do was to separate the two and deal with them separately. So, for my short term trading, I decided to trade only one pair; the EurNzd. For that, and here I can trade anywhere from the 5m to the 1hr tf. It just depends on what the marked is willing to give at my trading times. I also had to set times when I was willing to really sit down and trade, and I did have to sacrifice some things in order to make this happen. I am basically using the wave system with the alerts which has been introduced in this system.

For the trend trading, for all my other 12 pairs or whatever, I have 4 tf's....1w, 1d, 4hr, 1hr. The idea here is to trade the daily and weekly charts using the zipper trade and the reversal trade. For each the 1d, and 1w, I will determine the reversal point, set an alert, and if I am around, I will go to the 1hr (or 30m bar) to look for a reversal at a daily reversal point, and when we get to the reversal point on the 1w chart, I will go to the 4hr chart and wait for the system reversal arrow or whatever, to enter the weekly reversal. This should get me into the trend trading that I am longing to get into where I do not have to worry about something bad happening if I leave my charts to go and do something else.

After trading this system to date, I have modified is slightly, but have not changed the underlying concept, and one will be able to do fine with the indicator that was created for this system.

So... I feel very confident about where this is taking me. Throughout this whole process, the system has stayed relatively the same, I have only tried hard to find the best way that I can get it to work for me. I hope that I am closer than ever. It feels right, making these changes to use thise system in the way that I am planning. It seems that it takes all the pressure off me of trying to get somewhere to make a trade because of the leeway that I will have when trading off the weekly charts, and the time that I will have to determine the reversal points.

Every since my brain tumor, I can't keep up with everyone else. Strictly trading reversals on the daily and weekly charts with only trading one pair on a faster paced bases, sounds just about a speed that might be perfect for me.

I am sure to post some charts when I can,

As I go through this, and get into it, I will upload my modified templates, but for now I am just going to leave things as they are. You can send me a private message if you are seriously interested!

P.S. I am not going to proof read this right now, so hopefully everything makes sense. Let me know if not

Alright, it is Sunday! That means that because I am trading a reversal system based on the 1w chart, it is time for me to go over my charts and determine at what price, for each pair should I start looking for a reversal. Once my reversal price area has been reached, I will see what the 1d chart shows, then the 4hr, and then the 1hr. Then, decide which tf, the 1hr or the 4hr, I will use the newly created indicator to wait for a signal to enter the market, and hope for a nice long weekly trend run with lots banked pips. The only pair I am not going to trade this reversal trading on is eurnzd, as that is going to be the pair I trade when I have enough time to sit and trade.

I am going to list my weekly reversal points here as my list so I have a reference to come back to. Here we go.

EurAud - I believe that this pair is ready to explode up. I will be watching the 1hr chart and waiting for a reversal and will enter either when I get the signal or when the bar closes and the signal is still there.

EurJpy - 135.00

EurUsd - I believe that this is poised to go up right from where it is. Looking for signal on 1hr chart from market open, and hoping for nice long weekly trend to start.

GbpCad - Not liking what I see here, so I think that I will wait for another week to try to get into a trade here.

GbpJpy - 183.80

GbpNzd - Depending on how this pair opens, but it appears there is going to be enough momentum that one should be able to enter short immediately. However, if it opens lower, which it is likely to do. Wait for it to close the gap, and then enter short.

GbpUsd - 1.5380

So.... these are my reversal point predictions, and the areas where I will start to look for entries using the system on the 1hr or 4 hr chart. Many of the trades I won't be able to enter because I am low on lots I have available, but we will see what happens. Ultimately, I can still tell how many pips would have been gained or lost even if I don't actually enter the market.

This sounds like a fun way to use this system to get into trends, and save one pair to day trade with I guess I would call it.

Enjoy!

So, it is time for me to put my computer down for the rest of the day, and give a hoot out for the Packers....... Prime Time...... You got this!

I am very excited about what I saw and realized when I opened my charts. This time it was not just about looking for my setups, but it was about looking for my setups from a specific location with a specific direction. It was a simple yes or no, and there was nothing left for me to try to figure out. Knowing what I am waiting for, and not trying or having any thing left to figure out in regards to trading seriously has allowed me to relax, take some deep breaths, and enjoy my time away from the market knowing that I know what I am waiting for. All good stuff I hope that is leading me in the right direction. We will find out soon enough. A few weeks of trading like this will tell the story.

Hello:

It is midweek. It is time to re-evaluate the pairs I trade. I have made some good moves and some bad moves so far this week, but I have no doubt that the good moves will begin to become more prevalent. At the moment, I think my future is very bright in Forex.

GbbCad - This pair is slowly becoming my favorite pair. You should try it out. I keep going back to it, and it keeps saving my butt with winning trades. I think this pair is about to head back up, and with the 1hr bar already given us a NLD close up, if I had an extra lot at the moment, I would be jumping on this as if it were my wife.

EurAud - This pair has just been in a battle. If I had a lot available, I would still be entering long, and but I would wait until the 4hr bar moved down to the lower MA of my wave. One could go short until then.

EurJpy - Flag forming on 4hr chart, but with 1hr bar already having a NLD closing long, I would not even wait for the flag trend line to be broken and enter immediately.

EurUsd - I got stuck in a EurUsd trade last night, but I am confident that price will be going up. If I had any more lots, I would enter another one right now. My problem with this trade is that I did not wait until I got a signal before entering the trade, instead, I thought I could predict when the signal would be given, and I was wrong. Thankfully, it looks like the pair will bail me out, and it might turn into a nice 2 day run for 120+ pips. I am hoping for that ending for this trade.

GbpJpy - I would be watching the NLD on the 4hr bar, and if that thing changes color, I would be jumping on it long and you could be looking at 300 pips. If I had a spare lot, I sure would do it.

GbpNzd - I would be looking long immediately, and there is a good chance we will have a zipper trade on the 4hr bar, also to the long side. Another possible big pip earner!

GbpUsd - As well, with this pair. There is no reason to wait to go long. All conditions show it, so now is a good time to enter. Again, I wish I had another lot to spare.

It is only a matter of time until I have some additional lots available from winning the trades I will be entering in the future. Tonight is going to be a monster pip making night.

I will be back to re-evaluate things over the weekend and maybe to post a few charts or so.

I have been testing and trading this system, and through my efforts, I have changed things that in my eyes make this system easier. As this thread really just started as an idea and progressed into a system, I am going to make this post my last post to this thread, and I am going to start a new thread, starting where I have progressed to and left off here.

Here is the link where this thread migrated to

http://www.forexfactory.com/showthread.php?t=563164