2009.09.10 DRAIN THE BANKS - LIKE A RAT

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genlogins
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Postby genlogins » Sun Oct 10, 2010 9:32 pm

Jake111 wrote:TRO: You know what the real problem is with people not believing in your methods' simplicity? I think I know: it's because you cannot do much of this simple stuff in backtesting by just looking at a static completed chart. You have to replay the candles tick by tick or just forward test on live data. When you say "trade in the direction of the 1H candle over a horizontal line" most people then look at a static historic chart and see all of the "whipsaws" over various lines and say "impossible". But in real time, with common sense, it's a whole new story. I think this is the problem for most people.



*** No Attack Intended Here ***** below

I think the real problem is that TRO is a Doer and not a Teacher. As if he was a Teacher he would be teaching some one else's method or inventing one and charging $5,000 for each seat.

I think he is like myself, a simple Doer, that does and to teach is difficult as there are too much know how sometimes.

And also, most times you just need to cut your losses short and cut your winner from becoming losers. Everyone is greedy and wait too long sometimes.

For all methods, I think there must be some one that can put all together and make a ebook or something. I try to read as much as I can, but have another life(s); forex trading, street trading, net trading, and still have small time to read all the forum material.

Whish it was easy to read and put to practice, as you most know I lost 70% of my account, and trying to get back at live trading after 4 months, not easy.

g

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tmanbone
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Postby tmanbone » Mon Oct 11, 2010 2:12 am

Wish - to have a desire.
Effort - the total work done to achieve a particular end.
Student - one who studies.
Learn - to acquire knowledge or skill.
Mastery - possession or display of great skill or technique.
Teacher - one that teaches; especially : one whose occupation is to instruct.

"The technique is so simple that just several lessons (or a few pages of explanations) cover it all. Now what? Now the student has to practice, practice and practice again to understand what he had been taught. The teacher DOES know much more than the student, but his understanding can't be "passed", "transferred" or taught in any way -- not even by reading books."

Everything is in this 241 page thread. The rest is up to the student. This is the lesson. A wish is desire, without effort, will remain a wish.
"The simplicity of the markets is it's greatest disguise"

T

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skivers
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Postby skivers » Mon Oct 11, 2010 10:03 am

genlogins wrote:
Jake111 wrote:TRO: You know what the real problem is with people not believing in your methods' simplicity? I think I know: it's because you cannot do much of this simple stuff in backtesting by just looking at a static completed chart. You have to replay the candles tick by tick or just forward test on live data. When you say "trade in the direction of the 1H candle over a horizontal line" most people then look at a static historic chart and see all of the "whipsaws" over various lines and say "impossible". But in real time, with common sense, it's a whole new story. I think this is the problem for most people.



*** No Attack Intended Here ***** below

I think the real problem is that TRO is a Doer and not a Teacher. As if he was a Teacher he would be teaching some one else's method or inventing one and charging $5,000 for each seat.

I think he is like myself, a simple Doer, that does and to teach is difficult as there are too much know how sometimes.

And also, most times you just need to cut your losses short and cut your winner from becoming losers. Everyone is greedy and wait too long sometimes.

For all methods, I think there must be some one that can put all together and make a ebook or something. I try to read as much as I can, but have another life(s); forex trading, street trading, net trading, and still have small time to read all the forum material.

Whish it was easy to read and put to practice, as you most know I lost 70% of my account, and trying to get back at live trading after 4 months, not easy.

g


Hi Genlogins

I have to say I disagree :-)

Tro wants to make us think about everything he posts - he consistently shows this in his posts asking us what we SEE, LOOK e.t.c.

It would be all to easy for him to simply tell us everything he knows - It would be simpler for him as he would get no more daft questions.

I will make a guess and say that TRO feels if a student gets an 'AHA' moment - it is a more powerful learning experience.

In short he wants us to put some work and effort in ourselves

Now - where did I put my YALE application.

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eudamonia
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Postby eudamonia » Mon Oct 11, 2010 3:59 pm

Along these lines I'd say that trading knowledge is largely tacit. Books will only take you so far. Can you teach someone to ski, surf, or create great paintings through a book, forum, or static picture? Of course not. Trading is the same way. That is the Art of Trading.
Eudaimonia (pron.: you-die-moan-e-a) (Greek: εὐδαιμονία) is a classical Greek word commonly translated as 'happiness'. The less subjective "human flourishing" is often preferred as a translation.

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genlogins
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Postby genlogins » Mon Oct 11, 2010 7:51 pm

thanks tman, skivers, eud, and others that read.

I just had today one of those AHA moments when I set a Short order and after 5 minutes I left a break even +1 and turn off the machine. When I got back 8 hours later I had just over 56 pips at 0.001.

Well, it was not a catching time because it was my demo account, but I saw that I could get in 3x more with higher lot if I just hang on to the tradestation open. One of those tyring days of too much work.

And... yes..... you are right, I keep on reading stuff about forex but now after so much information all get down to practice 1 million times over.

G
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genlogins
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Postby genlogins » Mon Oct 11, 2010 8:04 pm

Just another thing, have you guys noticed that we could get a quick 3-5 pip every minute when 30-1hrs of market open London and NY?

I actually have days that I have up to 3 trades of 5 pips in only 1 candle of M1.

I like specially the wicks, when they reverse I get in an cash. Most times I can only cash 1 pip.

But look, I think that if I am consistent in catching 5 pips a day, I will be very happy.

I know of 1 person that trades hops, and every day he looks at the M5 and than M1, than he enters a wick high of a candle on M1 and catches TP 1= 2 pips than sets SLon those and let run a trailing stop and let go to a TP2= 3 pips and TP3= 5 pips.
Mind you, his SL= 2pips, but moves to +2 once on his direction.
Also, each pip he trades for $10,000.

He was very happy this summer, when the fires in Russia and the hops when up like crazy. He told me he just let run for 8 weeks and never closed after 5 minutes like he use to do.
On the 8th week he had such an account that he entered the last 3 trades on top of all the others with each pip for $100,000 and those 3 trades alone got him quite a lot.


I was thinking in doing the same but of course lot 0.001 :)

G
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The Way To Money Is Using Simplicity And Take Small Loses



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trueblueTEX
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Postby trueblueTEX » Tue Oct 12, 2010 2:31 am

If you can get 5 to 10 pips a day with big lots and little drawdown, you will be set for life.

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trueblueTEX
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Postby trueblueTEX » Tue Oct 12, 2010 2:13 pm

2 USDCHF trades for 6.3 pips. I got in pretty late on the second and sweated it. Actually, I got in late on the first one as well.


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tmanbone
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Postby tmanbone » Tue Oct 12, 2010 2:32 pm

Image


Image
"The simplicity of the markets is it's greatest disguise"



T

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trueblueTEX
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Postby trueblueTEX » Tue Oct 12, 2010 2:59 pm

Hey Tman,

nice trade. I've always been leery of the yen pairs yet you seem to post them quite a bit. What's your opinion of them?

Also, I never could quite get that atr indi to work quite like your. Could you post the tpl?

Thanks

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