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(binned per thread starter’s request) Truth in Trading

  • #41
  • Apr 4, 2016 11:47pm Apr 4, 2016 11:47pm
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Quoting Winston Reed
{quote} If you are talking about the one marked with the red arrow. Absolutely! {image}
That's it!
MT4/MT5 EAs/Indicators/Alerts coder
  • #42
  • Apr 5, 2016 8:10am Apr 5, 2016 8:10am
​As anticipated several traders have come forward expressing interest in a skype room discussing this strategy so I will look into getting this going. I would like to see those individuals who have expressed interest to subscribe to me and the thread and let me know that they have. I will subscribe to you and then you can post here in this thread. I want those who can post to start participating and showing interest and real desire to learn. Please start reading Steve Nison and Greg Morris material on Japanese candlesticks as interpretation of candlesticks and patterns is important to knowing when to enter a trade in the preferred trading area on the daily.
  • #43
  • Apr 5, 2016 8:13am Apr 5, 2016 8:13am
​Someone asked me about the importance of NY close vs others. I use Oanda which closes at 1000pm MST which is about the London open. I think it matters little as long as you are consistent.
  • #44
  • Apr 5, 2016 8:18am Apr 5, 2016 8:18am
Followup. Price moved down as expected after testing the 50% level. I have moved my stop down as shown. Target is shown.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDDailyApril5livetradefollowup.png Size: 47 KB
  • #45
  • Apr 5, 2016 8:19am Apr 5, 2016 8:19am
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Quoting Winston Reed
​... to subscribe to me and the thread and let me know that they have
I'm one of your oldest subscribers ... and I love what I am seeing here!
MT4/MT5 EAs/Indicators/Alerts coder
  • #46
  • Apr 5, 2016 8:19am Apr 5, 2016 8:19am
Quoting Winston Reed
Weekly GBPJPY with Weekly BuLBC that has engulfed the prior weekly candle. Price has come back into the preferred entry area {image} An inverted hammer is forming in the preferred entry area however this PA needs further confirmation and really should not be traded until the close of tomorrows candle. Patience. {image}
This is why confirmation is important Also the inverted hammer closed bearish making it not a high probability for reversal.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYDailyconfirmationimportant.png Size: 42 KB
  • #47
  • Apr 5, 2016 12:27pm Apr 5, 2016 12:27pm
Quoting FerruFx
{quote} I'm one of your oldest subscribers ... and I love what I am seeing here!
Thank you! Looking forward to your contribution.
  • #48
  • Edited 8:38pm Apr 5, 2016 7:25pm | Edited 8:38pm
Link to skype trading room. It is called "Truth in Trading". I'm not too good at this so if any of you are good at skype I'll need your help.

https://join.skype.com/KKt9dYO6KB6n
  • #49
  • Apr 5, 2016 7:57pm Apr 5, 2016 7:57pm
​My skype is alientrader62
  • #50
  • Apr 5, 2016 8:07pm Apr 5, 2016 8:07pm
​I would like to see some contributions here on the thread. Questions, charts, etc. before we become active on Skype or some other format outside of FF. Afterall that's the purpose of the thread. If you want to contribute PM me. I haven't intentionally left anyone out that has requested access so if you requested access and don't have it yet please let me know and I will correct.

The purpose of the high impact criteria is to limit the BS and the trolls. I am somewhat of a controversial member here at FF especially with my campaign regarding holding the commercial members more accountable and really having FF hold the commercial members more accountable so I want to avoid as much as possible any trash.

I invite those wanting to campaign to regulate commercial members to contribute.

But make no mistake the trading part of this thread is the most important. I'm serious about trading event though it is not my main source of income. My trades are all live. I don't even have a demo account.
  • #51
  • Apr 5, 2016 8:08pm Apr 5, 2016 8:08pm
Looking forward to this thread. I like the way you are using the higher T/Fs with this.

Good luck with the thread.
Good Trading
  • #52
  • Apr 5, 2016 8:12pm Apr 5, 2016 8:12pm
​Thanks Aud. Yes I agree. The HTFs have been liberating for me. So much less stress and much less screen time.
  • #53
  • Apr 5, 2016 8:27pm Apr 5, 2016 8:27pm
Update on current trade. 200+ pips. I like to get into the comfort zone. A trade where I'm well into profit and I don't have to necessarily worry about exiting right away. If this keeps going south I'll just move my SL down cautiously. I'm not into 10, 20 or 30 pips. I want to build up a bit of equity.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDDailyApril52016.png Size: 47 KB
  • #54
  • Apr 5, 2016 9:42pm Apr 5, 2016 9:42pm
Weekly showing price did not close above 1. A new BuLBC, 2., has formed.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDWeeklyApril52016.png Size: 47 KB

Daily does show signs of dropping but if it does it is likely to go to around the 50% daily LBC level as shown. I'd rather wait rather than sell now to that area.
Attached Image (click to enlarge)
Click to Enlarge Name: April52016.png Size: 51 KB
  • #55
  • Apr 5, 2016 9:49pm Apr 5, 2016 9:49pm
Weekly UJ. I've been waiting for price to drop here. It appears to be an area of strong buying given the large weekly BuLBC to the left.
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYWeeklyApril52016.png Size: 44 KB

Daily PA showing a hammer forming but unless it closes a bit stronger I will wait. Patience. Be choosy. Don't rush into any trade.
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYDailyApril52016.png Size: 41 KB
  • #56
  • Apr 5, 2016 10:28pm Apr 5, 2016 10:28pm
Just paper trading for the moment getting my feet wet
This is a USDCAD trade on daily from weekly LBC
First pin rejected close but this one was a better rejection however I wish they were switched with each other...

Attached Image (click to enlarge)
Click to Enlarge Name: usdcad daily.jpg Size: 38 KB


Chris
  • #57
  • Apr 5, 2016 10:49pm Apr 5, 2016 10:49pm
USDCAD showing price trapped between
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYWeeklyApril52016.png Size: 44 KB

Daily with a shooting star. Not excited about this one though because looks to be closing a bit bullish
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADDailyApril52016.png Size: 34 KB
  • #58
  • Apr 5, 2016 10:55pm Apr 5, 2016 10:55pm
Quoting Winston Reed
​I would like to see some contributions here on the thread. Questions, charts, etc. before we become active on Skype or some other format outside of FF. Afterall that's the purpose of the thread. If you want to contribute PM me. I haven't intentionally left anyone out that has requested access so if you requested access and don't have it yet please let me know and I will correct. The purpose of the high impact criteria is to limit the BS and the trolls. I am somewhat of a controversial member here at FF especially with my campaign regarding...
This thread is going to be slow Winston. You were crystal clear in the rules, how to set up the zones, when to enter, etc. Your method is based on rock solid PA. Sometimes there is just not a lot to say!
If you are good at something, never do it for free--Joker
  • #59
  • Apr 5, 2016 10:59pm Apr 5, 2016 10:59pm
Have spent the past few weeks converting to naked charts without indicators and this system really looks interesting.
Was cusrious as to your take on the current situation re audjpy. Attached weekly shows BuLBC however lots of previous price activity in that zone. Thet current daily approached but rejected the zone (at least on first attempt. Would you think given the past activity that this BuLBC may not have price penetrated too deep into it, or is that not a factor? Time will tell but was curious as to your thoughts.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AUDJPYWeekly.png Size: 29 KB
Click to Enlarge Name: AUDJPYDaily.png Size: 28 KB
  • #60
  • Apr 5, 2016 11:16pm Apr 5, 2016 11:16pm
Quoting Winston Reed
I am doing what the commercial traders are afraid to do. I don't know if I will be profitable in the long term but I am not claiming that I am or that I will be. The only claim I am making is that all trades posted will be live regardless of profit or loss.
To be honest, the above bolded statement from the first post stopped me from reading further. I know that none of us can predict the future, but it gave me the impression that this system is relatively new and/or you don't have a great deal of confidence in it. So why should I spend time learning and analysing it?

I'd be interested to know how long you've been trading this system in a live account, and what the P/L is in terms of percentage of deposited funds up to now. This kind of information will quash any doubts I and others might have.

Thanks and best wishes.
You reap what you sow.
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