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forex live trades, setups, charts

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flinux
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Postby flinux » Wed Sep 15, 2010 12:36 pm

Image

SELL during UPTREND and BUY during DOWNTREND is STATISTICALLY talking a VERY BAD IDEA.

Why ???

If you had bought at the price indicated by "1", you would win.
If you had bought at the price indicated by "2", you would win.
If you had bought at the price indicated by "3", you would win.
If you had bought at the price indicated by "4", you would win.
If you had bought at the price indicated by "5", you would win.
If you had bought at the price indicated by "6", you would win.

The worst that would happen is that the locations indicated on the chart from "3" and "6" you'd have a greater drawdown.

At some future point, there will certainly be a reverse, but statistically it is unlikely that you choose the right moment to open a side contrary trade.

The general rule is simple.
If the price goes up, buy.
If the price goes down, you sell.

What is more difficult to become familiar is:

- money management;
- discipline.
So faith, hope, love remain, these three; but the greatest of these is love. - 1 Corinthians 13:13

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dojirock
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Postby dojirock » Fri Sep 17, 2010 6:43 am

I would like to start by thanking Flinux. It is so easy to get tied into indicators, methods, and ideas.....
I had a bad week and said I was done for the week. A few post back I posted some charts, thought I had it all figued out!...Lost my shirt...ha
I get in on trades, get out too early most of the time....then SPEND HOURS TRYING TO FIGURE OUT WHERE THE TOP IS! so I can get in my next trade.

I have been trading about 18 months now and find myself getting distracted all the time with indicators, methods, and EA's.
After looking at Flinux's last post, I couldn't get it off my mind...thank you Flinux!
You dont need tons of indicators! Find a method and master it! Dont waste your time on EA's.
I went back to the naked charts, a got back to Flinux's point of his post! The results were the best I had in days!
My whole point of this post is to encourage others that may or maynot be struggling right now.....keep it simple, follow price, and everything will be alot easier!

Dojirock
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dojirock
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Postby dojirock » Fri Sep 17, 2010 6:59 am

I have always exited on a semaphore, or a opposite 2 color heiken ashi bar.
Not any more! Lets see if it works on longer time frames....

dojirock
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Phil
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Postby Phil » Fri Sep 17, 2010 12:43 pm

dojirock wrote:I would like to start by thanking Flinux. It is so easy to get tied into indicators, methods, and ideas.....
I had a bad week and said I was done for the week. A few post back I posted some charts, thought I had it all figued out!...Lost my shirt...ha
I get in on trades, get out too early most of the time....then SPEND HOURS TRYING TO FIGURE OUT WHERE THE TOP IS! so I can get in my next trade.

I have been trading about 18 months now and find myself getting distracted all the time with indicators, methods, and EA's.
After looking at Flinux's last post, I couldn't get it off my mind...thank you Flinux!
You dont need tons of indicators! Find a method and master it! Dont waste your time on EA's.
I went back to the naked charts, a got back to Flinux's point of his post! The results were the best I had in days!
My whole point of this post is to encourage others that may or maynot be struggling right now.....keep it simple, follow price, and everything will be alot easier!

Dojirock

Hi Mike, could you please explain a bit more about your chart? When do you add to your positions and what causes you to buy?

Yes, i think Flinux is right, some folks were trying to tell me all along to not trade against the trend (as long as i´m not profitable in the long run, just to start)
So i think i need to revise my tradingsplan and only trade when the sema occurs on the side of the thrend.

I need just some more time i guess. This week i did a couple of trades, only one loser, but didn´t got time to post all of them.

@Flunix: Thanks for the statistics but i´m not sure how to cope with it in comparison with the chappy method. I mean when you see the charts in this thread all entries are either long or short in most of the charts, so with and against the trend. Now this is really confusing me.
Someone can shed a light about this?
I know, my brain is involved which is not a very good idea. I think too much.
Well, i guess i just slide on my piano bench for now and gonna relax a bit until the children are jumping up and down on me.

You all enjoy your weekend, and keep those ideas coming.

Regards, Phil

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dojirock
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Postby dojirock » Fri Sep 17, 2010 3:41 pm

Hi phil,

I didnt mean to confuse you. What I am realizing trading happy's method is how much the semafore influences my decision to exit, and sometimes enter a trade. Lets take a look at the pic. Entry with a macd crossover...but as confirmation wait for a ma cross.. i gave up a couple of pips..but keeps me out of more of the bad crossovers...with no sema, no worry of breakouts...its all emotional for me...
Normally until price passes point 1, I stress, I hate losing! :x my previous exits have been 2 opposite color bars... I leave alot on the table..
or I use the sema to exit...by removing them..I can rely on one thing price and the ma line. Point 1 add to my position. Price retraces all the time in a trend, chopping noobs out of trades. You can usually get 3 drawbacks per trend. Ok now im fine until point 2...i would have exited and took what I could get. Now, add,1 position, it didnt cross the ma. (im not adding at the yellow lines i drew, those are drawn during the trade as a visual stop, I add when it starts to drop again....it is hard to do at 1st, start with smaller positions) Its not even touching the ma, a good trend. Point 3,4,5 same thing. Point 6, watch or get out....it touches the ma, but doesnt stay ther I look at that as a longer time frame touch, I would not have added to that one. Had I got out, great, I have been in longer than I normally would have with more positions. I also can reenter , macd cross, no ma cross...Note in that drop how many times looking at the macd or the cci indi you use, it plays with your mind...get out , its reversing..I dont know if you experience the same problems I doo, but this will definetly help me grab more pips! I will post more late...feel free to msn me or pm me if you want to talk more about this. My msn is dojirock@hotmail.com
Hope this helps.

Dojirock
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dojirock
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Postby dojirock » Fri Sep 17, 2010 4:17 pm

hey guys,

A few more thoughts......in this chart, set break even after point 1...i know we can sit in front of the computer for 4 to 5 days.......when u hit point 2 move break even to point one!.....profit..... I know this trade is hind sight, so I will post an actual one as i have time....

dojirock
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dchappy
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Postby dchappy » Sat Sep 18, 2010 1:37 am

dojirock wrote:Hi phil,

I didnt mean to confuse you. What I am realizing trading happy's method is how much the semafore influences my decision to exit, and sometimes enter a trade. Lets take a look at the pic. Entry with a macd crossover...but as confirmation wait for a ma cross.. i gave up a couple of pips..but keeps me out of more of the bad crossovers...with no sema, no worry of breakouts...its all emotional for me...
Normally until price passes point 1, I stress, I hate losing! :x my previous exits have been 2 opposite color bars... I leave alot on the table..
or I use the sema to exit...by removing them..I can rely on one thing price and the ma line. Point 1 add to my position. Price retraces all the time in a trend, chopping noobs out of trades. You can usually get 3 drawbacks per trend. Ok now im fine until point 2...i would have exited and took what I could get. Now, add,1 position, it didnt cross the ma. (im not adding at the yellow lines i drew, those are drawn during the trade as a visual stop, I add when it starts to drop again....it is hard to do at 1st, start with smaller positions) Its not even touching the ma, a good trend. Point 3,4,5 same thing. Point 6, watch or get out....it touches the ma, but doesnt stay ther I look at that as a longer time frame touch, I would not have added to that one. Had I got out, great, I have been in longer than I normally would have with more positions. I also can reenter , macd cross, no ma cross...Note in that drop how many times looking at the macd or the cci indi you use, it plays with your mind...get out , its reversing..I dont know if you experience the same problems I doo, but this will definetly help me grab more pips! I will post more late...feel free to msn me or pm me if you want to talk more about this. My msn is dojirock@hotmail.com
Hope this helps.

Dojirock


:smt023
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dojirock
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Postby dojirock » Sat Sep 18, 2010 4:52 am

Dchappy comes thru again...

Yes thank you for that reminder...I had gotten away from drawing those..those definetly are another confirmation to get ready.


thanks, I will draw those to in future post!

dojirock

by the way have you been able to retire yet dchappy?

dchappy
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Postby dchappy » Sat Sep 18, 2010 5:21 pm

dojirock wrote:Dchappy comes thru again...

Yes thank you for that reminder...I had gotten away from drawing those..those definetly are another confirmation to get ready.


thanks, I will draw those to in future post!

dojirock

by the way have you been able to retire yet dchappy?
No Sir ; I'm still a workin man ..

My goal has been to double the account every 8 weeks ,

If the markets smile on me . I hope to be trading full time in the spring ..


Keep up the good work :wink:

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dojirock
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Postby dojirock » Sat Sep 18, 2010 9:17 pm

Wow, every 8 weeks, thats crazy....crazy good...I hope to be there some day!

Didnt really need to post..but I wanted my 50th post! :lol:

dojirock

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