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bredin
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Postby bredin » Thu Feb 10, 2011 9:51 pm

Sometimes you need a good laugh, just have to read something funny, even though you just know that postcounts are not an indicator of quality.

Luckydragon, you are so right. we should post charts and ask questions and be nicer.

Image
Image
edit: wrong images

Why no mention of the 10 or so trades in the red circles?? not all losers surely??

Why did you stop rolling the losses into the TP on the GJ example? was it because then the 4th trade would have been a loss?

Is the spread calculated into the losses??


Since the authors of this thread have been so insistant on protecting newbies I should add some protectionism...

MA cross systems are inherently dangerous because of fundamental market mechanics: You will always be buying after a rise in price or selling after a fall in price which carries more risk and is, in the words of Sam Seiden, is the single biggest mistake of amateur traders.
Furthermore since you never know which cross is actually the start of something big you must take every entry available that you money management rules can handle, which will lead to runs of losses when the market goes flat.

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luminousneo
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Postby luminousneo » Fri Feb 11, 2011 12:48 am

newark18 wrote:
Luckydragon wrote:Come on guys, we should all be nice to one another. Anyone that is willing to give up their time to teach, to share deserves respect. Some have reached there goals but most are not there yet. It is a long road to success in trading, every bit of info could make us better traders.


I am not being mean (well, I am a little) but there is really an unspoken understanding that we don't use squiggly lines to determine entry.

And I can't help my reaction to Nikita. She is just so personable, I just want to pinch her cheeks!



Newark, for ur info, Nikita did that because somebody start it...all negative comments pissed her off...we try to be nice but there are members who r not happy wit wat we did... but never mind I can just say good luck with all the attempts....
Never Ending Opportunities...even Superman can't stop me...

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Postby pika » Fri Feb 11, 2011 2:05 am

I hope people will stop posting useless personal remarks, be it to inflate one's own ego or to run down another's. Instead, what bredin said has more value. He asked very valid questions so that we can all learn.

On the use of MA crossover, I notice luminousneo is using price crossing over a SMA line instead of the classic fast MA crossing slow MA lines. So it is still effectively about price crossing a point or not.

The word "indicator" is taboo to the price action traders, but think about it, isn't the candle itself an "indicator" when we look at the relative levels and ratios of wicks and body? Isn't range an indicator? Even the pure price action trader is using a Moving Average of 1 period. When we say we look at S/R, these are also trigger points that we based our trade entry on, so they are "indicators" also. Why are people looking forward to TRO's "indicators"? So there is really nothing wrong with indicators, but how you use it in your strategy. Let's not waste too much time on terminology, but focus on the trading method and concept.

As TRO has said, why should others be so concerned with his style or approach? Instead we should focus on how to trade and not go off topic. If anyone doesn't like a topic, just ignore it. Nobody is forcing anyone to read all the topics. Thank you.

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luminousneo
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Postby luminousneo » Fri Feb 11, 2011 3:10 am

SPECIALLY DEDICATED TO BREDIN :

"Sometimes you need a good laugh, just have to read something funny..."

U are absolutely rite... I laughed when I see ur charts... it shows u never understand my post but come with another attempt to find my mistake.... I understand it, u have to prove that u r rite and u have to prove that ur accusation toward me is rite... but I guess after u read my explanation u have to do more...good luck...


"...even though you just know that postcounts are not an indicator of quality."

Again u r rite... maybe the members who view it just wasting their time here...they have nothing to do n just click it...and again when they get bored, they will come here again n click it again... yea, yea, really agree on that....hehehehe


"Why no mention of the 10 or so trades in the red circles?? not all losers surely??"

Again...this show beside u don't understand u don't even read my post...maybe u r one of them who get bored n just click this thread... and when they r post that catch ur attention u don't to waste this opportunity to shoot me... nice one

As I said somewhere in this thread I only took 30 pips daily and when I achieved my target I will stop trading n look for opportunities the next day...or if I could not reach my target today and there is no valid signal I will also stop and trade again the next day...that's why I only show the trades from the latest day... I don't know you can see it or not but the vertical dotted line in my chart is the PERIOD SEPARATOR...

To make u happy I attached charts for u to see...


Image


Those 2 entries are from the day before but since the 1st trade already give me 30 pips, I won't take the 2nd trade and of course I won't take all the entries u plotted in ur chart...


Image


This one is even better.. 1st trade hit SL and I will set higher TP so I can cover the loss and get profit net of 30 pips. After that I will stop even there is few opportunities with profit there. This is another good lesson for newbies...try to get ur profit and not over trade...because u never know which entries will give u profit...I wont take the 4 entries u circle either...btw u have total of 6 red circles on both AUDUSD and GBPJPY charts...not 10...

"Why did you stop rolling the losses into the TP on the GJ example? was it because then the 4th trade would have been a loss? Is the spread calculated into the losses??"

Yes u rite, I'm wrong in that calculation. Here is the rite one :

1st Trade : SL -26, TP +30
Status : TP HIT

2nd Trade : SL -5, TP +30
Status : SL HIT

3rd Trade : SL -26, TP +35
Status : SL HIT

4th Trade : SL -25, TP +61
Status : SL HIT

5th Trade : SL -40, TP +86
Status : TP HIT

Total pips : 30 pips


Actually I post these chart to show the entries...that is why I show all possible entries in those charts and I always show on LATEST chart....but per my actual rules I should stop trading once I reached my daily target... so meaning to say I should not enter 2nd - 5th trade... but again I will make u happy and u can see from the above calculations... net 30 pips achieved coz GBPJPY flew up to 140+ pips from my 5th entry... so I guess TP 86 will hit... Even its work, I don't take all entries but I look for GOOD ENTRY meaning TIGHT SL... so I always take entry with SL less than 10 coz my TP is only 30 pips... the rationale is to make it possible to cover the loss...


The charts are only examples to show SIMPLE SYSTEM IS WORKING. I didn't include spread in my calculations that's is why picking tight SL is important and the system work to cover the spread. If ur spread is high so I guess u need to choose which pair suit u best or lower net profit to 20 pips daily. Some brokers got 7 spread for GBPJPY but mine got less than 4. Spread is one of the very basic thing traders need to know...if traders don't understand it I guess they cannot start trade it yet or even they cannot start looking for any system....



"Since the authors of this thread have been so insistant on protecting newbies I should add some protectionism...

MA cross systems are inherently dangerous because of fundamental market mechanics: You will always be buying after a rise in price or selling after a fall in price which carries more risk and is, in the words of Sam Seiden, is the single biggest mistake of amateur traders.
Furthermore since you never know which cross is actually the start of something big you must take every entry available that you money management rules can handle, which will lead to runs of losses when the market goes flat."


Personally I don't watch news. If I opened a trade n there is news that make my TP hit, I will happy for that but if it hit my SL then I guess I need to look other opportunities. I don't mind if it hit my SL because I have a tight SL.

I'm not sure what u mean by dangerous... buying after a rise, I guess price will move further from SMA.... if its further from SMA the SL will be high rite?? So I will skip, if u take it sure it is a suicide... I have my own way and safest way...We never know which cross is actually start of something big...yes u r rite... how big is ur BIG? 20-30 pips? or 200-300 pips? Since we don't have this ability to predict future I guess the best thing is to have tight SL... and u r wrong on taking every entry available ... that is why I show how to pick good entry...and i advice member to stop once they reach the target...another valuable lesson for traders...



I personally trade only on MA. So many ways to trade and I have no doubt on their efficiency... all indis or system is just a REASON...u trade with a reason...why u enter there? why u enter here? and I guess u have ur own reason for that....
Never Ending Opportunities...even Superman can't stop me...

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luminousneo
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Postby luminousneo » Fri Feb 11, 2011 5:47 am

pika wrote:I hope people will stop posting useless personal remarks, be it to inflate one's own ego or to run down another's. Instead, what bredin said has more value. He asked very valid questions so that we can all learn.

On the use of MA crossover, I notice luminousneo is using price crossing over a SMA line instead of the classic fast MA crossing slow MA lines. So it is still effectively about price crossing a point or not.

The word "indicator" is taboo to the price action traders, but think about it, isn't the candle itself an "indicator" when we look at the relative levels and ratios of wicks and body? Isn't range an indicator? Even the pure price action trader is using a Moving Average of 1 period. When we say we look at S/R, these are also trigger points that we based our trade entry on, so they are "indicators" also. Why are people looking forward to TRO's "indicators"? So there is really nothing wrong with indicators, but how you use it in your strategy. Let's not waste too much time on terminology, but focus on the trading method and concept.

As TRO has said, why should others be so concerned with his style or approach? Instead we should focus on how to trade and not go off topic. If anyone doesn't like a topic, just ignore it. Nobody is forcing anyone to read all the topics. Thank you.


Yes, u r rite... but I'm not posting personal remarks... I need to explain any doubt posted by members here and its my responsibility to make it clear...

Again for the record I have to say it again, there are so many ways of trading out there and I believe it work... and I share mine here...

Again u r rite, those not interested can ignore this thread...let the other members decide whether my post have value or not... but I still remember one member who said he will stop reading this thread but then he came back and post... I guess he got hidden agenda for that... :P
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pika
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Postby pika » Fri Feb 11, 2011 6:24 am

luminousneo wrote:
pika wrote:I hope people will stop posting useless personal remarks, be it to inflate one's own ego or to run down another's. Instead, what bredin said has more value. He asked very valid questions so that we can all learn.

On the use of MA crossover, I notice luminousneo is using price crossing over a SMA line instead of the classic fast MA crossing slow MA lines. So it is still effectively about price crossing a point or not.

The word "indicator" is taboo to the price action traders, but think about it, isn't the candle itself an "indicator" when we look at the relative levels and ratios of wicks and body? Isn't range an indicator? Even the pure price action trader is using a Moving Average of 1 period. When we say we look at S/R, these are also trigger points that we based our trade entry on, so they are "indicators" also. Why are people looking forward to TRO's "indicators"? So there is really nothing wrong with indicators, but how you use it in your strategy. Let's not waste too much time on terminology, but focus on the trading method and concept.

As TRO has said, why should others be so concerned with his style or approach? Instead we should focus on how to trade and not go off topic. If anyone doesn't like a topic, just ignore it. Nobody is forcing anyone to read all the topics. Thank you.


Yes, u r rite... but I'm not posting personal remarks... I need to explain any doubt posted by members here and its my responsibility to make it clear...

Again for the record I have to say it again, there are so many ways of trading out there and I believe it work... and I share mine here...

Again u r rite, those not interested can ignore this thread...let the other members decide... but I still remember one member who said he will stop reading this thread but then he came back and post... I guess he got hidden agenda for that... :P

No worries, luminousneo. I am not directing my comments at you. As you would see by now, I don't waste time getting personal with anyone on the forum. I only want to filter out valid information and concepts to explore and discuss. Up to now I don't find you hurling insults or calling names at others so I respect your etiquette. Keep it up! The serious and sincere forumers will be drawn to people with the same spirit.

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Postby luminousneo » Fri Feb 11, 2011 6:28 am

pika wrote:
luminousneo wrote:
pika wrote:I hope people will stop posting useless personal remarks, be it to inflate one's own ego or to run down another's. Instead, what bredin said has more value. He asked very valid questions so that we can all learn.

On the use of MA crossover, I notice luminousneo is using price crossing over a SMA line instead of the classic fast MA crossing slow MA lines. So it is still effectively about price crossing a point or not.

The word "indicator" is taboo to the price action traders, but think about it, isn't the candle itself an "indicator" when we look at the relative levels and ratios of wicks and body? Isn't range an indicator? Even the pure price action trader is using a Moving Average of 1 period. When we say we look at S/R, these are also trigger points that we based our trade entry on, so they are "indicators" also. Why are people looking forward to TRO's "indicators"? So there is really nothing wrong with indicators, but how you use it in your strategy. Let's not waste too much time on terminology, but focus on the trading method and concept.

As TRO has said, why should others be so concerned with his style or approach? Instead we should focus on how to trade and not go off topic. If anyone doesn't like a topic, just ignore it. Nobody is forcing anyone to read all the topics. Thank you.


Yes, u r rite... but I'm not posting personal remarks... I need to explain any doubt posted by members here and its my responsibility to make it clear...

Again for the record I have to say it again, there are so many ways of trading out there and I believe it work... and I share mine here...

Again u r rite, those not interested can ignore this thread...let the other members decide... but I still remember one member who said he will stop reading this thread but then he came back and post... I guess he got hidden agenda for that... :P

No worries, luminousneo. I am not directing my comments at you. As you would see by now, I don't waste time getting personal with anyone on the forum. I only want to filter out valid information and concepts to explore and discuss. Up to now I don't find you hurling insults or calling names at others so I respect your etiquette. Keep it up! The serious and sincere forumers will be drawn to people with the same spirit.
Thanks dude, I understand it...discuss...that's the word I'm looking for... feel free to post ur charts if u have any doubt and lets discuss...
Never Ending Opportunities...even Superman can't stop me...

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Postby Nikitafx » Fri Feb 11, 2011 10:54 am

business must be slow for some...................hint hint............... [-X its ok is ok come on now its ok :smt056


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luminousneo
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Postby luminousneo » Fri Feb 11, 2011 11:28 am

Luckydragon wrote:Come on guys, we should all be nice to one another. Anyone that is willing to give up their time to teach, to share deserves respect. Some have reached there goals but most are not there yet. It is a long road to success in trading, every bit of info could make us better traders.


Thanks dude...
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Postby Luckydragon » Fri Feb 11, 2011 12:14 pm

Thats ok mate, thank you more for sharing your knowledge
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