Becoming a successful forex trader

This is a discussion on Becoming a successful forex trader within the Forex forums, part of the Markets category; Originally Posted by oilfxpro Zupcon U hang around with the competition so I am gonna have to pass , cause ...

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Old Mar 16, 2008, 10:54pm   #81
 
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Originally Posted by oilfxpro View Post
Zupcon

U hang around with the competition so I am gonna have to pass , cause that is all the competition needs

I will give u a clue...it uses 20 of the USEFUL working indicators and calculates

OILFXPRO
Everyone I hang around with could answer the question in a heartbeat. Lets hear your take on this. There's no trade secrets being disclosed here, its a simple question.

Lets not get into the intricacies of combining 20 indicators, lets just stick to 2 for the time being. People are going to start to think that you cant answer because you simply don't have the first clue, come on, prove us all wrong.
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Old Mar 16, 2008, 11:06pm   #82
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Originally Posted by mp6140 View Post
================================================== ============


fundamentals, at its simplest, can alter market direction, although it will always happen at a technical go/no go point and tends then to be a longer lasting situation, as one could see from a multi year chart of eurusd, for instance, BUT one cannot tradeit to its next "change" without using technicals.

Knowledge of fundamentals is hindsight weapon and prearms the technical trader


as far as your EA is concerned, although i am not privy to EXACTLY how you trade and therefore have no visulization, trading the technicals simply doesnt require fundamentals, because the technicals will encompass whatever the moves are !

Knowledge of fundamentals helps, if 10 year yield in U S are rising and your short term charts hit a resistence point prematurely, look at your 10 year treasuries



HOW DO YOU ARRIVE AT AN EXIT POINT, KNOW WHEN THE CURRENCY WILL REVERSE INTRADAY, OR THE SLEW OF OTHER THINGS A CURRENCY DOES --

I have several exit methods ......if minimum profit target is achieved the OILFXPRO pro stop loss (coded in the EA) waits for a reversal.It is like a trailing stop loss but different., Then I have an exit manager which uses exit manager analysis using t/a and f/a plus s/r plus atr.There is a profit manager which uses random ATR


mp

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Old Mar 16, 2008, 11:09pm   #83
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Originally Posted by zupcon View Post
Everyone I hang around with could answer the question in a heartbeat. Lets hear your take on this. There's no trade secrets being disclosed here, its a simple question.

Lets not get into the intricacies of combining 20 indicators, lets just stick to 2 for the time being. People are going to start to think that you cant answer because you simply don't have the first clue, come on, prove us all wrong.
Never give the competition an inch cause the inch is all they need

OILFXPRO
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Old Mar 16, 2008, 11:24pm   #84
 
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Originally Posted by oilfxpro View Post
Never give the competition an inch cause the inch is all they need

OILFXPRO
Even Steintz could probably take a reasonable shot at coming up with an answerer, we are not discussing anything thats not covered extensively in standard texts. So answer the question. What's the problem, did you fall asleep at school ?

Regarding the combination of fundamentals and technicals, it makes absolutely no sense at all unless you apply this to the correct time frames, and if your looking at anything intra day, the trends generated by fundamentals have no significant bearing on technical trades. If you'd done 2 minutes of actual research for yourself rather than reading opinion in half baked text books you'd be well aware of that fact.

In simple terms that you might understand, you can quite happily trade technically against the long term fundamentals with absolutely no detriment whatsoever. If you'd actually spend 2 minutes doing a bit of basic research you'd know that.
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Old Mar 16, 2008, 11:32pm   #85
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Regarding the combination of fundamentals and technicals, it makes absolutely no sense at all unless you apply this to the correct time frames, and if your looking at anything intra day, the trends generated by fundamentals have no significant bearing on technical trades.
In simple terms that you might understand, you can quite happily trade technically against the long term fundamentals with absolutely no detriment whatsoever. If you'd actually spend 2 minutes doing a bit of basic research you'd know that.

NOT MUCH ONE CAN ADD TO THAT BY GOLLY !
enjoy

mp
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Old Mar 16, 2008, 11:58pm   #86
 
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Originally Posted by zupcon View Post
Even Steintz could probably take a reasonable shot at coming up with an answerer, we are not discussing anything thats not covered extensively in standard texts. So answer the question. What's the problem, did you fall asleep at school ?

Regarding the combination of fundamentals and technicals, it makes absolutely no sense at all unless you apply this to the correct time frames, and if your looking at anything intra day, the trends generated by fundamentals have no significant bearing on technical trades. If you'd done 2 minutes of actual research for yourself rather than reading opinion in half baked text books you'd be well aware of that fact.

In simple terms that you might understand, you can quite happily trade technically against the long term fundamentals with absolutely no detriment whatsoever. If you'd actually spend 2 minutes doing a bit of basic research you'd know that.
Fundamentals in simple terms, only matter over long time frames - p/e ratios, balance sheets, insiders/outsiders, what the directors had for breakfast..none of its any use for a short term trading decision. The stock buying public - or at least the " clued up " ones have well realised that as far as the stock market is concerned - where " buy and hope " is the prevailing strategy - well thats why theyre all seeking better ROR thru vehicles like CFDs and spreadbetting etc etc -
By its inherent nature when you buy something " first " - you can only make money when the price goes UP - no wonder everyone is so keen on learning to trade these days -and its just great..!!
Funny how those " bastions of proberty called Banks and stockbrokers " all used to " knock " SB etc etc as somehow " second rate or cheap " to the services they provide - now they all have platforms and are getting in on the act - Barclays, TD Waterhouse, all of em..!!
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Old Mar 17, 2008, 12:19am   #87
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Originally Posted by zupcon View Post
Regarding the combination of fundamentals and technicals, it makes absolutely no sense at all unless you apply this to the correct time frames, and if your looking at anything intra day, the trends generated by fundamentals have no significant bearing on technical trades. If you'd done 2 minutes of actual research for yourself rather than reading opinion in half baked text books you'd be well aware of that fact.

In simple terms that you might understand, you can quite happily trade technically against the long term fundamentals with absolutely no detriment whatsoever. If you'd actually spend 2 minutes doing a bit of basic research you'd know that.
Zupcon

My expert advisor uses a combination of time frames from 1.5.15,30 ,60 and 1440 time frames.It trades both with and against fundamentals, some of the shorter time frame contrarian settings use lower ratings for fundamental bias

OILFXPRO
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Old Mar 17, 2008, 12:43am   #88
 
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Originally Posted by oilfxpro View Post
Zupcon

My expert advisor uses a combination of time frames from 1.5.15,30 ,60 and 1440 time frames.It trades both with and against fundamentals, some of the shorter time frame contrarian settings use lower ratings for fundamental bias

OILFXPRO
Fundamentals have have no effect on technical signals on a 1 or 5 minute chart. Trading with or against is statistically insignificant, and as such the concept of trading with or against is totally pointless.

There is therefore no need to apply any bias, because what you are doing has no statistical significance at all, bit I'm starting to suspect you don't actually understand what that means

Here's a tip for you, time frames are related by the square root of their ratio, so why you'd deliberately go out of your way to make life additionally harder by analyzing information in time frames some bucket shop broker wishes to see is absolutely beyond me.

You claim your design is statistically based, so come on, prove to us all you at least understand the basics. Answer the original question. How do you combine the probabilities in the example I gave you. Come on we are waiting, its not rocket science.
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Old Mar 17, 2008, 12:52am   #89
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Originally Posted by zupcon View Post
Fundamentals have have no effect on technical signals on a 1 or 5 minute chart. Trading with or against is statistically insignificant, and as such the concept of trading with or against is totally pointless.

There is therefore no need to apply any bias, because what you are doing has no statistical significance at all, bit I'm starting to suspect you don't actually understand what that means

Here's a tip for you, time frames are related by the square root of their ratio, so why you'd deliberately go out of your way to make life additionally harder by analyzing information in time frames some bucket shop broker wishes to see is absolutely beyond me.

You claim your design is statistically based, so come on, prove to us all you at least understand the basics. Answer the original question. How do you combine the probabilities in the example I gave you. Come on we are waiting, its not rocket science.
If u are entering a position against a major trend /channel AT A RESISTANCE LEVEL , on the 1 m chart your F/A bias is lower wheras if u are entering a position in the direction of the trend your F/A bias is higher

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Old Mar 17, 2008, 12:57am   #90
Joined Oct 2006
Mp -- Now Wait A Minute -- Its All Coming Back !

SOMEONE DO A CHECK ON OILY ON THE OTHER SITES --- I REMEMBER THIS NONSENSE ABOUT HIS EA AND SOME WILD EXCHANGES OVER ON THE OTHERS.

I BELIEVE ONE WILL FIND THE RESEARCH RATHER INTERESTING, AND VERY MUCH FUN.


i dont know this sites policy about other sites, so i shall not name it (actually two, which are tied together)

seek and yee shall find LOTS of fun !

MP
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