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Old Oct 26, 2007, 6:24pm   #31
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Hello,
How long is it going to take? How are you going to release the material -- on a daily/weekly basis or in one fell swoop and when are you starting? After the poll finishes?
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Old Oct 26, 2007, 6:54pm   #32
 
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Originally Posted by jezgw View Post
Hello,
How long is it going to take? How are you going to release the material -- on a daily/weekly basis or in one fell swoop and when are you starting? After the poll finishes?
Hello Jezgw,

I am going to release the information as I get time. I work four days a week and I am often watching the markets on my day off (Friday) as well as in the evenings but I will try and check every day and try to get new material up and answer questions as frequently as possible.

How long it will take is hard to say. It all depends on how fast people learn.

The actual method I am going to show you is simple. I can sum it up now: I trade high probability setups by looking for price action at areas of support/resistance. I then look for confluence with fib levels and trend lines.

This basic method will then be combined with a moving average system which I have found to be extremely reliable. This system will be mainly used to deduce when it is the optimal time to add to a position and it is also crucial to staying in the market when it is trending so that you get excellent risk/reward ratios and capture large moves when the market offers them.

Many people may already trade similar to at least the first part of my method. What I am going to show you is how I do it because I am making profitable trades where I know some others are struggling.

Whatever your level of knowledge/experience I hope you will find something useful here.

We will start when the poll finishes which is Tuesday. I will be here as long as people are willing to learn.
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Last edited by trader_dante; Oct 26, 2007 at 7:05pm.
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Old Oct 26, 2007, 7:09pm   #33
 
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"Abandon hope, all ye who enter here."

Seeing the name Dante, sprung that quote forth from the dark recesses.

Make a good slogan for T2W perhaps?

............

All the best with your tutorial, most community spirited.
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Old Oct 26, 2007, 7:24pm   #34
 
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Quote:
Originally Posted by rols View Post
"Abandon hope, all ye who enter here."

Seeing the name Dante, sprung that quote forth from the dark recesses.

Make a good slogan for T2W perhaps?

............

All the best with your tutorial, most community spirited.
LOL

I prefer:

Midway this way of life we're bound upon,
I woke to find myself in a dark wood,
Where the right road was wholly lost and gone

Ay me! how hard to speak of it - that rude
And rough and stubborn forest! the mere breath
Of memory stirs the old fear in the blood;

It is so bitter, it goes nigh to death;
Yet there I gained such good, that, to convey
The tale, I'll write what else I found therewith.


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Old Oct 26, 2007, 11:19pm   #35
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Quote:
Originally Posted by trader_dante View Post
How long it will take is hard to say. It all depends on how fast people learn.
We will start when the poll finishes which is Tuesday. I will be here as long as people are willing to learn.
Hi t_d,
Anyone who dares to stick their head above the parapet as you appear to be doing now can expect to be shot down in flames. Such is life. Given that you have expertly got everyone's interest and attention and that you are already on page 4 of the thread, may I suggest that you offer the masses a little 'cud' to chew on over the weekend? This will help to keep the prospective dissenting voices at bay and to ensure that the faithful - and eternally hopeful - remain on side, supportive and as enthusiastic about your intentions as they appear to be thus far. Forgive me if this sounds a tad harsh but, trust me, in my not inconsiderable experience of T2W there will be those who, as I write, are waiting in the wings to shoot you down in flames. So far, everything you've said is 'by the book' and hard to criticize but, sooner or later, the rubber meets the road and you're gonna have to follow through on your intentions. PLEASE don't leave it too long!

Tim.
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Old Oct 27, 2007, 1:22am   #36
 
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If the opener involves anything by Lewis Carroll, or mystifying a warthog by waving grey blankets at it, I'm off!
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Old Oct 27, 2007, 4:47am   #37
 
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trader_dante,
I am hooked and can't wait.
And thanks in anticipation of sharing your knowledge.

Cheers,
Nash
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Old Oct 27, 2007, 1:11pm   #38
 
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Originally Posted by trader_dante View Post
I have recently reviewed all the trades I have done in my account since starting to use this methodology. From this review I can see that my win/loss ratio is just under 80%.

Losses will be cut very quickly and winners will be left to run until it looks like the move is running out of steam. Naturally, some retracement will be necessary before this is realised. Nonetheless, some of the trades I will show you have incredible risk:reward ratios.

The latest trades I took were in the Bund (German Treasury market) and in Crude Oil. The last setup my methodology generated in the Bund returned a reward of 12 times the risk on the hourly timeframe. (180 ticks reward for a 15 tick risk). In Crude Oil, the method generated a reward of 5 times the risk (362 ticks for a 67 tick risk) This is without adding positions which was also possible.
Hello Dante,

With a Win Rate of around 80% (very impressive) and a R:R currently ranging from 5-12 then would I be right in assuming that your are trading short-term?

If so, can I ask what your average time in Trade is and what your Max DD is?

Finally, do you think that your entry conditions/filters could be hard-coded and thus backtested to see how it performs on other instruments? I'm guessing though that with the Fibonacci element this is probably not possible but I'd be interested in your thoughts on this.....

All the best,

Chorlton
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Old Oct 27, 2007, 1:41pm   #39
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trader_dante

Why are you prepared to reveal your trading methods if you have discovered a method which is highly successful? What are you going to achieve by revealing all the secrets in this thread?
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Old Oct 27, 2007, 1:47pm   #40
 
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Quote:
Originally Posted by Chorlton View Post
Hello Dante,

With a Win Rate of around 80% (very impressive) and a R:R currently ranging from 5-12 then would I be right in assuming that your are trading short-term?

If so, can I ask what your average time in Trade is and what your Max DD is?

Finally, do you think that your entry conditions/filters could be hard-coded and thus backtested to see how it performs on other instruments? I'm guessing though that with the Fibonacci element this is probably not possible but I'd be interested in your thoughts on this.....

All the best,

Chorlton
Hi Chorlton,

The R:R ratio is not always that high, those are simply two examples taken from the latest trades I entered. The reason they are so high is because the EMA system I use showed me that the trend was strong and likely to continue.

If the EMA system is not showing any particular setup but I still get a price action setup then I usually trade for a fixed target. This can often be a R:R of 1:1. I can afford to do this because my win/loss ratio is good.

I trade daily and hourly setups. If I am in a trade based on a daily setup it can go on for any length of time from being stopped out the day I enter to continuing for several weeks. If it is an hourly setup I often get out same day but if the trend is strong I will often hold until it runs out of steam which may be well into the next trading session or even longer. I will be honest with you, average time spent in a trade is not something I have analysed.

To answer your other question: I don't think this method can be hard-coded. It is not a system with strict rules. You may find the EMA system (which can work on its own regardless of price action) can be hard coded but I will give you a word of warning which also will help to explain why I am here doing this in the first place.

I learnt to trade price action on another forum. All credit for what I am going to show you will go to the other forums and threads which I will name in due course.

What I have done is simply take that knowledge and add my own experience and instinct in trading which I have been doing for over seven years now. That means I have my own unique take on it.

I will give you an example. Recently in this other forum there was a price action signal to go short EUR/CHF. This setup looked picture perfect but for some reason I didn't want to take it. Those that did lost money because it went straight up. Somewhere in that decision I made was my "reading" of the market that differed from what I had been taught.

I am aware that I will no doubt face criticism on this thread. But all I am trying to do is impart what I have learnt.
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Old Oct 27, 2007, 2:02pm   #41
 
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Originally Posted by hanzam View Post
Why are you prepared to reveal your trading methods if you have discovered a method which is highly successful? What are you going to achieve by revealing all the secrets in this thread?
Hanzam - I was waiting for someone to ask this.

Ultimately you will believe me or you won't but I will tell you hand on heart there are two reasons.

First is that lately, I've started to realise that there is more to life than trading. I've gone through hell to learn to trade. I've cut myself off from my friends and family and nearly wrecked a six year relationship with the girl I love. My attempts to learn this game have led to anger and frustration. I found that all I would do is be thinking about the market and I became gradually more introverted until I lost sight of everything that really matters in life.

And then suddenly it dawned on me: the market doesn't care who I am - it was here long before I was born and it will be here long after I am dead. I am giving up precious years that I can't get back in order to learn how to make money. And I am ignoring the things that really matter in life like: "Do I show the important people in my life that I appreciate them?", "Am I making the most of my time here?", "Will I be remembered after I die?".

I'm only 28 but I felt like I was having a mid-life crisis. My father died when he was only 44 so perhaps I am...

Anyway, by frequenting forums I read about people who are far older than me, people that just want to become financially independent, support their family, perhaps enjoy their life without becoming a slave to the markets. Or people that are where I was - struggling in their trading, losing money, becoming disillusioned with it all.

When I found I was making money and still hearing they were having difficulties I thought I would share what I know.

The second reason is slightly more egotistical. It has taken me seven years to find my way in this game. And now I am having success, I want to tell everyone about it. I will tell you now I've had many detractors in my life. Colleagues, friends, sometimes even close family that have told me I will never make it. To stop trading - to stop gambling and to pursue a "worthwhile career". This is my way of showing that I am making it and that I can help others make it too. Perhaps the irony of all this is that the people I want to prove myself the most too, will never see this.

Tom
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Last edited by trader_dante; Oct 27, 2007 at 2:08pm.
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Old Oct 27, 2007, 2:03pm   #42
 
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Originally Posted by trader_dante View Post

I am aware that I will no doubt face criticism on this thread. But all I am trying to do is impart what I have learnt.
Hi Dante,

Full respect to you for creating this thread. I hope that others do not become critical of your posts/methods/etc.

As we all know the main purpose of these forums is to share knowledge and experience so I hope that everyone remembers this as we move forward.

Quote:
I will give you an example. Recently in this other forum there was a price action signal to go short EUR/CHF. This setup looked picture perfect but for some reason I didn't want to take it. Those that did lost money because it went straight up. Somewhere in that decision I made was my "reading" of the market that differed from what I had been taught.
The comment in Bold is very important. Just because a method is taught to others, does not automatically mean that everyone will be profitable especially when there is a discretionay element to it which, clearly your method definately has.

Additionally, IMO two elements that can shift a strategy from profit to loss is the Exit rules & the overall Money Management side. Out of interest, will you also be sharing your thoughts on these important elements or will you be only focusing on the entry conditions?

All the best,

Chorlton
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Old Oct 27, 2007, 2:23pm   #43
 
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Originally Posted by Chorlton View Post
Just because a method is taught to others, does not automatically mean that everyone will be profitable especially when there is a discretionay element to it which, clearly your method definately has.
EXACTLY the reason why I want us all to be looking at the same market when I teach this. If I show you what I am doing on the DAX and you go away and apply it to the GBP/USD you may not be profitable for a while. If you watch the same market I am and perhaps even trade it you will, I sincerely hope, get a feel for why I am doing what I am doing.

Quote:
Originally Posted by Chorlton View Post
Additionally, IMO two elements that can shift a strategy from profit to loss is the Exit rules & the overall Money Management side. Out of interest, will you also be sharing your thoughts on these important elements or will you be only focusing on the entry conditions?

I will certainly share my methods regarding exits. I think exits are even more important than entries and they are an area that I want to devote most of my attention too.

I may talk a bit about my money management but I am hesitant to make recommendations about what others do as it all depends on the traders individual comfort zone. The friend whose account I trade, for example, is willing to take much more risk than I am because he was always playing with the houses money (it was an account opening bonus). He will frequently try to persuade me to up the risk which I warn him against.

Since trading my personal account I have not experienced 2 back to back losers. As a result of this I took as much as 10% risk per trade until the money started to mean something and now I have cut it right down.

I know 2-3% risk per trade is regularly touted as being the conservative risk to take. I think this is perfectly acceptable although I strongly believe that it is a good idea to commit as much of your account to one position if that position offers you entry points in a strongly trending market where your OVERALL reward is increasing and risk is diminishing with each increment. We will talk about this in due course.
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Last edited by trader_dante; Oct 27, 2007 at 2:30pm.
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Old Oct 27, 2007, 2:54pm   #44
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If a finance House / company decided to offer you a substanial amount not to reveal your real trading methods but just to skirt around and reveal some of the techniques will you sell out to such a proposal? If you do not sell out to them why would you reject a substanial amount say a six figure sum can you guarantee us traders that this will not happen and we won't be mislead or deceived any way and you are not part of any hidden motive.
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Old Oct 27, 2007, 3:12pm   #45
 
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Originally Posted by timsk View Post
Hi t_d,
Anyone who dares to stick their head above the parapet as you appear to be doing now can expect to be shot down in flames. Such is life. Given that you have expertly got everyone's interest and attention and that you are already on page 4 of the thread, may I suggest that you offer the masses a little 'cud' to chew on over the weekend? This will help to keep the prospective dissenting voices at bay and to ensure that the faithful - and eternally hopeful - remain on side, supportive and as enthusiastic about your intentions as they appear to be thus far. Forgive me if this sounds a tad harsh but, trust me, in my not inconsiderable experience of T2W there will be those who, as I write, are waiting in the wings to shoot you down in flames. So far, everything you've said is 'by the book' and hard to criticize but, sooner or later, the rubber meets the road and you're gonna have to follow through on your intentions. PLEASE don't leave it too long!

Tim.
Hi Tim,

Your post is accepted and appreciated!

I'll say one thing: if anyone wants to constructively criticise anything I say / do then feel free - perhaps we will all learn something in the process. I'm not some guru and don't wish to be treated as such. I have a lot to learn still. Right now I am just a trader whose consistency in winning is telling him he is getting somewhere further than others out there. So I will pass information back down the line as it were

I am sure there are many of you that have performed much better than me and if so I hope I can learn something from YOU!

I personally play devils advocate in my personal life. When anyone takes the consensus I usually find something wrong with it so don't think you are going to offend me.

Please try not to just gun me down for sharing things though.

It's like someone that argues: "I am going to prove the existence of extraterrestrials. Firstly, a good reason why they exist is because no one has proven since time began, that they don't exist".

You could constructively criticise this by replying: "That is ridiculous. The reason this hasn't happened is that it is virtually impossible to prove something doesn't exist. Only that it does exist."

If however, someone says: "I am going to prove extraterrestrials exist...because I have one in my wardrobe..." pulls open the door and out it walks. Well then the criticism becomes harder.

Whatever you want to say about how I am doing things, the undeniable fact is that I am making money right now. And have been for several months. If anyone actually wishes to see screenshots of my trading account history or a trading equity curve I will post one.

I also always talk in terms of money made when I make a trade aswell as in terms of ticks won/lost. Some may appreciate this out of genuine interest into what can be made, others may find it crass. But I do it nonetheless.

Ok rant over. Lets get on with this.
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