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  • #7,221
  • May 29, 2016 7:14am May 29, 2016 7:14am
Quoting Ren1058
{quote} All these BE's +2, what would have happened to these positions if you had not moved your stop? would they have ended as a loss or a bigger profit? Would they, collectively, have been a net loss or win?
The entries were made with the hope momentum would pick up.-i t didn't. They would be losses, unless you were willing to hold and endure drawdown. Best, Josh
  • #7,222
  • May 29, 2016 7:18am May 29, 2016 7:18am
Quoting JoshuaHope
{quote} Hey Intrepidpips. I am very happy to see that your setup is working for you. One of your trades, the 123 caught my eye and i would like to share my view on it. I don't think that you jumped the gun. I have been researching 123s and in my humble opinion, the best way to separate the ones that work and ones that don't, is by gauging the momentum on the higher TF. Without momentum, 123s will fail. So basically, the best setup is if the STO on HTF goes into OB, then comes back, but stays above the 50 level.(or at least 30ish but then you might...

123's also known as triple taps http://www.nobrainertrades.com/2011/12/triple-taps.html
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  • #7,223
  • May 29, 2016 7:20am May 29, 2016 7:20am
Quoting JoshuaHope
{quote} The entries were made with the hope momentum would pick up.-i t didn't. They would be losses, unless you were willing to hold and endure drawdown. Best, Josh
Thanks for reply "never let a winner turn in to a loser" as they say
  • #7,224
  • May 29, 2016 7:22am May 29, 2016 7:22am
Quoting Ren1058
{quote} Thanks for reply "never let a winner turn in to a loser" as they say
Exactly. It does keep the account safe, but can be frustrating at times. Best, Josh
  • #7,225
  • May 29, 2016 7:25am May 29, 2016 7:25am
Anybody use Awesome oscillator for divergence set ups?

http://renkotraders.com/renko-tradin...me-oscillator/
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  • #7,226
  • May 29, 2016 7:29am May 29, 2016 7:29am
another example, I find it clearer than RSI or TDI
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  • #7,227
  • May 29, 2016 10:29am May 29, 2016 10:29am
Quoting BBalazs
{quote} IMO, Dee's performance cannot be duplicated because it is very likely not real. Trading without losses is simply impossible, the sooner you accept this fact the better. If you are trying to trade the way he did - without losses and nailing the entry 99% of the time - you are setting yourself up for failure and disappointment.
I do agree with this to a point. It's just hard for me to fathom that someone (Dee) would only post winning trades for years on end. For what? to make himself look good on Forex Factory? I could see if he had some sort of alternative motive to sell courses... but he has never even hinted at this. He has shared everything for free. Hell, I may be in the crazy camp to think this is possible.

I think the reason I believe this is possible is because Dee has lots of BE +2's. He would only need price to move +6 in his favor before getting to BE. Now if you think of it that way it makes things much easier than seeing +100 +45 +56 +90 +32 +55. All you have to look for is trades that have a high probability of moving +6 in your favor. Once you have the +6, you let them run to your target or get stopped out at BE.

I believe trading has A LOT to do with "gut feel" that only comes with years of experience. Mark Weinstein mentions it in the Market Wizards book (see pic). I'm not sure if any of you have had days where you feel like you're in the zone? Everything is clicking. I've had that feeling multiple times, but I also get the feeling of uncertainty. Sometimes the uncertainty feeling will come before I take any trades for the day. Getting to the point where I do not feel that uncertainty is my goal.

Maybe Dee has been hiding his losers, maybe he hasn't. I don't know for sure. What I do know is that my trading has improved since I found this thread.

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  • #7,228
  • May 29, 2016 10:46am May 29, 2016 10:46am
Quoting lKeithStone
{quote} I do agree with this to a point. It's just hard for me to fathom that someone (Dee) would only post winning trades for years on end. For what? to make himself look good on Forex Factory? I could see if he had some sort of alternative motive to sell courses... but he has never even hinted at this. He has shared everything for free. Hell, I may be in the crazy camp to think this is possible. I think the reason I believe this is possible is because Dee has lots of BE +2's. He would only need price to move +6 in his favor before getting to BE....
Sorry man, but apparently you do not know what are you writing about. You did not see all of Dees pictures, at least not those where he was +15 or 20 pips, then 10 pips DD and then exit in profit. He couple times wrote that he did not use +5 pips BE anymore. And it has simple logic, because 8 of 10 trades you will be K.O. of trade absolutelly pointlessly. Read his posts again...

If it were been only about BE +5 then we all would be milionares. Be honestly, how much trades you have where after entry always go market in your predicted way ? Lot of successful guys there have after entries DD 10-15 pips and I have it as well, then BE +5 will not save you... It is still about same thing - do not think about Dees style thru holy grail pattern or one gold rule...
  • #7,229
  • May 29, 2016 11:47am May 29, 2016 11:47am
Quoting Matomi
{quote} Sorry man, but apparently you do not know what are you writing about. You did not see all of Dees pictures, at least not those where he was +15 or 20 pips, then 10 pips DD and then exit in profit. He couple times wrote that he did not use +5 pips BE anymore. And it has simple logic, because 8 of 10 trades you will be K.O. of trade absolutelly pointlessly. Read his posts again... If it were been only about BE +5 then we all would be milionares. Be honestly, how much trades you have where after entry always go market in your predicted way...
Sorry man, but I do. The whole point is to not let a winning trade turn into a losing trade. No matter how you do it! Sure, you may have drawdown when you enter a trade because you didn't nail the entry, but again, the point is to not let your winners turn into losers!

Not sure where you got the idea of where I said it's all about BE +5???? There is a lot more to it than just moving your stops to BE. It's about taking the highest probability trades that move in your favor quickly so you can set your stop to BE.

Maybe you should read my post again...
  • #7,230
  • May 29, 2016 12:01pm May 29, 2016 12:01pm
Quoting dee50
Here is a very large can of worms, not only am I happy to open it , but I will pour the contents onto the ground in plain sight for every one to see. I hope the young man who wrote me this PM does not mind me posting it on the open thread, but I thought you all might find his method interesting. It goes against every thing that is Preached in trading, but, every thing that is taught in trading is based on the premise that you are going to lose more times than you win, quite frankly it is a premise that I find ridiculous, I know of NO other business...
  • #7,231
  • May 29, 2016 1:08pm May 29, 2016 1:08pm
Hey Joshua, I'm interested in what you're saying, but confused a bit following you.Would yout mind posting few charts explaining your comments, supporting them with graphs of the HTF and your trading chart (Reiko I suppose ).Best regards and thanks
Quoting JoshuaHope
{quote} Hey Intrepidpips. I am very happy to see that your setup is working for you. One of your trades, the 123 caught my eye and i would like to share my view on it. I don't think that you jumped the gun. I have been researching 123s and in my humble opinion, the best way to separate the ones that work and ones that don't, is by gauging the momentum on the higher TF. Without momentum, 123s will fail. So basically, the best setup is if the STO on HTF goes into OB, then comes back, but stays above the 50 level.(or at least 30ish but then you might...
  • #7,232
  • May 29, 2016 2:34pm May 29, 2016 2:34pm
Going off of what I was saying earlier... Here is an older post from Dee. Showing that he has had this mentality for quite a while.

It really doesn't matter if you move your stop to BE +2 after 6 pips, 10 pips, 20 pips. Find what works best for you. Are you confident you're trading in the correct direction? Are you 100% confident in your setup? If so, you may let the trade work and not move to BE until +15 instead of +6. If you are not as confident or seeing something that concerns you, you may move to BE a little quicker. This is that "gut feeling" I'm talking about that only comes with screen time. Knowing when to let your trade play out, or knowing when to get out!

Find the momentum and trade with it. "If you pick your entry correctly there should be no reason to take a loss"
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  • #7,233
  • Edited 4:06pm May 29, 2016 2:44pm | Edited 4:06pm
Quoting cfabian
Hey Joshua, I'm interested in what you're saying, but confused a bit following you.Would yout mind posting few charts explaining your comments, supporting them with graphs of the HTF and your trading chart (Reiko I suppose ).Best regards and thanks {quote}
Hey Cfabian, here is one of my charts on a 123. Its in mean renko, but the idea is the same. The flicker/kick up i refer to on the 10 pip chart you can not see on a dead chart. Now, when you look at Intrepidpips chart above, focus on the 100 chart Stochastics and see how it simply showed weakness -It was unable to enter OB territory, meaning that an 123 extension was unlikely.
I hope this helps...or here is how Dee once put it...
Best, Josh
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  • #7,234
  • May 29, 2016 3:17pm May 29, 2016 3:17pm
Quoting lKeithStone
Going off of what I was saying earlier... Here is an older post from Dee. Showing that he has had this mentality for quite a while. It really doesn't matter if you move your stop to BE +2 after 6 pips, 10 pips, 20 pips. Find what works best for you. Are you confident you're trading in the correct direction? Are you 100% confident in your setup? If so, you may let the trade work and not move to BE until +15 instead of +6. If you are not as confident or seeing something that concerns you, you may move to BE a little quicker. This is that "gut feeling"...
With all due respect, your points are not making sense.

I think most traders would agree that there is no way in hell to know for sure where the market is going to go next. However, Dee's statements imply the opposite. I don't have any issues with him, but most of his advice is confusing, to put it lightly. He had zero consistency regarding his entries.

One day, he takes a trade based on a divergence at a BRN and some Fibo retracement, which of course, was a winner. The next day, despite the fact that the same conditions were present, he skips the trade. Needless to say that it was a loser.

"If you pick your entry correctly there should be no reason to take a loss" - Biggest BS I ever heard. You have no idea where the market is going to go next. If you did, you would not hang around FF. You would be too busy sipping some Dom Perignon on your brand new yacht.

"Knowing when to let your trade play out, or knowing when to get out" - You WILL NOT know. Ever. If you believe - even for a second - that somehow it is possible to know anything in advance in the markets, you are deluding yourself. Period.

Did his trading style help you to become more successful? Great, he does deserve credit for that. But striving to be like him (zero loss, godlike foresight) will set you up for failure, that is for sure.

I strongly encourage you guys to re-read DashRiprock's posts. Some of you were so quick to attack him but what he wrote was pure gold.
Invincibility lies in the defence; the possibility of victory in the attack
  • #7,235
  • May 29, 2016 5:22pm May 29, 2016 5:22pm
Quoting BBalazs
{quote} With all due respect, your points are not making sense. I think most traders would agree that there is no way in hell to know for sure where the market is going to go next. However, Dee's statements imply the opposite. I don't have any issues with him, but most of his advice is confusing, to put it lightly. He had zero consistency regarding his entries. One day, he takes a trade based on a divergence at a BRN and some Fibo retracement, which of course, was a winner. The next day, despite the fact that the same conditions were present, he...
It's all good man. Sometimes things sound great in my head and don't come out right. Let me know what doesn't make sense and I will try to explain?

I don't necessarily think Dee is claiming to know where the market is going next. He is merely stating if you pick your entry correctly there should be no reason to take a loss. Meaning a correct entry will give you enough room to move to BE.

I think his inconsistencies in trade entries come from feeling how price is moving. Waiting for that burst of momentum. I could be wrong.

Basically what you are saying is Dee has been lying about his trades for over 3 years? I guess I've seen crazier shit, but that's hard for me to believe.

"Knowing when to let your trade play out, or knowing when to get out" I'm not saying I know for a fact what's going to happen, but you can see if a trade starts to break down (no follow through) after entry. That is a sign For me to move to BE or get out.

I'm not striving to be like him. I just agree with how he thinks. Whether I can accomplish what he describes as possible is besides the point.

What Dashpip wrote is stuff the majority are reading and following. Doesn't the majority lose? Not saying some of the stuff he posted isn't true, but I'd rather not follow the majority.
  • #7,236
  • May 30, 2016 2:44am May 30, 2016 2:44am
GER30 -1+25 +35. I got a little trigger happy, but it worked out well. For the -1 trade, i didn't have a good case, but i was able to pull out fast. For the 2 and 3, i built a good case. Best, Josh
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  • #7,237
  • May 30, 2016 3:13am May 30, 2016 3:13am
Quoting JoshuaHope
GER30 -1+25 +35. I got a little trigger happy, but it worked out well. For the -1 trade, i didn't have a good case, but i was able to pull out fast. For the 2 and 3, i built a good case. Best, Josh {image}
Well played.
  • #7,238
  • May 30, 2016 4:29am May 30, 2016 4:29am
Quoting BBalazs
{quote} I strongly encourage you guys to re-read DashRiprock's posts. Some of you were so quick to attack him but what he wrote was pure gold.
About dee....

In my opinion it would serve every trader so well to find what works best for them, dee's methodology is a great place to start.
In trading the aim is not to be clones of another trader, few traders are 100% consistent with their entries and exits like BB has noted with dee, so why do you want to trade exactly like dee?
I am not bothered by 100% hit rate of dee or anybody else, what I'm bothered about is can their methodology work for me? if it can then can I "curve-fit" it to suit me?, (my previous experiences and knowledge) not "curve-fit" myself to fit the methodology.
Ask yourself if what's been taught has helped you find profitable trades and if you can rinse and repeat?, if it has not, take a bow and let those who find it useful continue on their quest.

No one knows what the heck the market is going to do next, is the golden rule in trading so arm yourself with a SL but what I find is dee has chosen DAX because 70% of the time (I think) when it moves it surges so his mindset is "if after 6 pips the market changes it's mind I'm not willing to go into DD to see if will eventually go in my direction or hit my SL" (my summary of his thought process) hence we see the +2
I want to give him the benefit of a doubt, wish he could silence the doubters with a TE.

As for DRR, we only have his own words for it that he is or was a pro trader, all he is saying is nothing new, in fact you will find everything already mentioned in one or two threads on FF, this is a trading system thread not a trading discussion thread.

Can he devote the time dee has devoted to this thread and to FF in general?,
He says that trading is not rocket science but can he outline his own methodology painstakingly and selflessly like dee has?
He says "just find a trend and trade the pull backs" but there are a million ways to define a trend and how many "trend traders" can show you their TEs year in year out?

Bottom line is FIND WHAT WORKS FOR YOU AND PRACTICE IT UNTIL YOU ARE A MASTER IN IT, YOU CAN ONLY BE THE BEST VERSION OF YOURSELF NOT THE NEXT BEST VERSION OF ANOTHER.

No hard feelingss BB
Peace.
Let it turn and find your entry.
  • #7,239
  • May 30, 2016 4:34am May 30, 2016 4:34am
Quoting Intrepidpips
{quote} About dee.... In my opinion it would serve every trader so well to find what works best for them, dee's methodology is a great place to start. In trading the aim is not to be clones of another trader, few traders are 100% consistent with their entries and exits like BB has noted with dee, so why do you want to trade exactly like dee? I am not bothered by 100% hit rate of dee or anybody else, what I'm bothered about is can their methodology work for me? if it can then can I "curve-fit" it to suit me?, (my previous experiences and knowledge)...
I agree completely. As long as you have a method or a a way to analyze the market and you are consistent with it, you should be alright.
Invincibility lies in the defence; the possibility of victory in the attack
  • #7,240
  • May 30, 2016 4:40am May 30, 2016 4:40am
Quoting BBalazs
{quote} I agree completely. As long as you have a method or a a way to analyze the market and you are consistent with it, you should be alright.
Let it turn and find your entry.
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