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  • #201
  • Apr 21, 2016 1:41pm Apr 21, 2016 1:41pm
Quoting Winston Reed
{quote} UsdChf never filled so I canceled the order. I'm still short EurUsd and GbpUsd. Will post charts later.
Yes, thanks, but i wonder why did you put a pendent order for buy really close below the resistance zone? Was it not dangerous since the price can find resistance there?

Thanks again! Nice metod!
  • #202
  • Apr 21, 2016 1:49pm Apr 21, 2016 1:49pm
Quoting sylbolid
{quote} Yes, thanks, but i wonder why did you put a pendent order for buy really close below the resistance zone? Was it not dangerous since the price can find resistance there? Thanks again! Nice metod!
The signal was valid. My order was a buy limit by design to give the trade room. If I had left it, it would have filled and I would have currently been in profit.
  • #203
  • Apr 21, 2016 2:44pm Apr 21, 2016 2:44pm
Quoting Winston Reed
{quote} The signal was valid. My order was a buy limit by design to give the trade room. If I had left it, it would have filled and I would have currently been in profit.
Ok thanks! Really interested about this strategy!
  • #204
  • Apr 21, 2016 4:03pm Apr 21, 2016 4:03pm
Trade follow-ups. UsdChf was cancelled before it filled. Both live trades below filled via limit sells so sell stops were cancelled.
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  • #205
  • Apr 21, 2016 4:23pm Apr 21, 2016 4:23pm
Considered this one. The above red area is actually a daily BeLBC but I felt it to be particularly strong. Note that price penetrated into the Daily BuLBC. The point is that if the signals are good enough then we may consider taking a trade even though it is going to encounter obstruction. We just need to know this and make adjustments like reducing lot size or tightening stops or taking profit earlier. I get questions about this type of trade fairly frequently. the fact is we are almost always going to be trading into some type of resistance or support. Sometimes it's not worth it. Each situation has to be evaluated on it's own merits.
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  • #206
  • Apr 21, 2016 4:29pm Apr 21, 2016 4:29pm
Weekly BeLBC is still in play until a weekly candle closes above. It's early still but if today's candle closes an engulf then this would be a valid trade. Note price is directly in a daily BuLBC. The other problem for me is that it is Thursday and I'm not a big fan of entering trades going into Friday. We'll see though.
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Attached Image (click to enlarge)
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  • #207
  • Apr 21, 2016 4:32pm Apr 21, 2016 4:32pm
This one has a little more room before encountering the daily BeLBC. Again this is early analysis. My candle does not close for several more hours.
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  • #208
  • Apr 21, 2016 4:46pm Apr 21, 2016 4:46pm
A commercial member with his Trade Explorer. This individual is actually trading other people's money.
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  • #209
  • Apr 21, 2016 8:51pm Apr 21, 2016 8:51pm
Quoting Winston Reed
A commercial member with his Trade Explorer. This individual is actually trading other people's money. {image}
I'm short U/Cad. Makes me look like a genius...
  • #210
  • Apr 22, 2016 8:12pm Apr 22, 2016 8:12pm
Hi Winston kudos on spilling the beans on these so called kudos. You seem like an intelligent guy who has a clue on trading and as a trader with 15 yrs of experience I wonder why in the world would you want to trade forex when the deck is stacked against you. Its not your trading its the brokers and mt4. I traded with oanda and I can say this out of the rest of the retail brokers there the best but the best of what? I was fortunate to not have lost money with them via spikes and what have you and since there is no exchange you are trading against the bookie. I encourage you to take your skills to the futures market and trade against the market just my opinion though. For me trading the e mini dow is better than any currency pair out there
  • #211
  • Apr 22, 2016 9:38pm Apr 22, 2016 9:38pm
Quoting Divergence
Hi Winston kudos on spilling the beans on these so called kudos. You seem like an intelligent guy who has a clue on trading and as a trader with 15 yrs of experience I wonder why in the world would you want to trade forex when the deck is stacked against you. Its not your trading its the brokers and mt4. I traded with oanda and I can say this out of the rest of the retail brokers there the best but the best of what? I was fortunate to not have lost money with them via spikes and what have you and since there is no exchange you are trading against...
​Thanks D. I love commodities and the futures market. Some things I prefer to keep to myself these days. FOREX is rather benign but nevertheless a market where most are able to learn as the futures market is a bit rich for most.
  • #212
  • Apr 22, 2016 9:46pm Apr 22, 2016 9:46pm
​I will not be trading JPY pairs/crosses any longer. Even though any country can implement monetary policy at any time that can defy the best technical analysis I believe japan is particularly dishonest with their policy.
  • #213
  • Apr 23, 2016 12:02pm Apr 23, 2016 12:02pm
Quoting Winston Reed
I have not hid my disgust for the commercial members on FF. I have provided documentation of my experience with J16. I want to be clear about some things regarding J16. First I believe the methods taught by Mike are probably valid and could result in profit if proper risk management is exercised. My biggest issue with J16 was there recent increase in membership fees and the offering of other fee-based services. The issue stems from J16 refusing to provide any verifiable evidence that someone in their organization is actually profiting from trading...
I absolutely agree with your statements here. In fact, about a year ago I went on a quest to find anyone, even one person, in any trading category (futures, forex, options, stocks, etc.) who would show me a verifiable financial statement showing profits from their trading. The list is far too long to name here, of people who simply could not/would not show any statement of profitability.

The people in this list are well-respected educators, well-known to be "experts in their field" and with elaborate and tastefully done websites. Their education resources are immense and thorough.

What can be said about my research? Simply this: they are all scams! Some people will immediately rebel against that statement, but what else can be said about "educators" who are unable/unwilling to show profitability in their own trading? When studying any profession (lawyer, doctor, plumber, pilot, welder, etc.) you are able to get a pretty good idea of what people within these groups make, as you can in all professions. Except trading! Educators simply will not tell (or show) you what they make. Instead, they simply want to make money off of your monthly payment to "learn their method." Seems that the old adage remains true: "Those who can, do. Those who can't, teach."

If, in doing due diligence on any trading educator, people REQUIRED statements of profitability before paying money to them, it would put the vast majority of these hucksters out of business.

Thank you for alerting us to the James16 issues, and I agree they should ONLY be in the commercial section. If you provide the username of "Mike" or others I, for one, will report them.
  • #214
  • Apr 24, 2016 1:41am Apr 24, 2016 1:41am
Quoting Winston Reed
​I will not be trading JPY pairs/crosses any longer. Even though any country can implement monetary policy at any time that can defy the best technical analysis I believe japan is particularly dishonest with their policy.
So you removed all jpy pairs from your trading check list?
  • #215
  • Apr 24, 2016 2:49pm Apr 24, 2016 2:49pm
Quoting Dreamliner
{quote} I absolutely agree with your statements here. In fact, about a year ago I went on a quest to find anyone, even one person, in any trading category (futures, forex, options, stocks, etc.) who would show me a verifiable financial statement showing profits from their trading. The list is far too long to name here, of people who simply could not/would not show any statement of profitability. The people in this list are well-respected educators, well-known to be "experts in their field" and with elaborate and tastefully done websites. Their education...
​Thanks Dreamliner. You've articulated very clearly my position regarding the "commercials" and really ANYONE else selling unverified trading methodologies. I know of several so-called traders with superb websites charging large fees (thousands and thousands of $$$) for access to their trading rooms, signal services, one-on-ones', etc, etc. Not one of them submits one iota of performance for any time period. Yet they are accepted by many here in these forums and in the general trading community abroad as legitimate. Some have claimed to have traded on various trading floors but interestingly no longer are doing so. It's obvious to me they are becoming wealthy not by trading but by hocking their snake oil to the unsuspecting and truly ignorant here at FF and other trading community websites.

I have communicated with FF and made suggestions but so far nothing. The commercials are given free advertising for their BS and many are losing their hard earned cash to these wanna be OPM traders or just pure outright scammers.

Thanks Dreamliner!
  • #216
  • Apr 24, 2016 2:51pm Apr 24, 2016 2:51pm
Quoting sylbolid
{quote} So you removed all jpy pairs from your trading check list?
​I don't really have a check-list but you are correct. I am "boycotting" all JPY pairs.
  • #217
  • Apr 24, 2016 3:12pm Apr 24, 2016 3:12pm
​I'll be posting some charts later including updates on my EU and GU ongoing trades. All live. Not hiding anything.
  • #218
  • Apr 24, 2016 3:34pm Apr 24, 2016 3:34pm
Quoting Winston Reed
​I'll be posting some charts later including updates on my EU and GU ongoing trades. All live. Not hiding anything.
Well done, Winston!
  • #219
  • Apr 25, 2016 2:22am Apr 25, 2016 2:22am
Good start of the week Winston and everyone!

Today i see that USDCHF is in the hot zone, i wonder if you would take a short trade if there is some PA around the previous candle:
Attached Image(s) (click to enlarge)
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  • #220
  • Apr 25, 2016 3:15am Apr 25, 2016 3:15am
I put a pendent order for short trade, i like the level where we are, as we can see is in line with S/R level, any thought?

Thanks,
Syl
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