The Final Holy Grail Journal Discussion Thread

This is a discussion on The Final Holy Grail Journal Discussion Thread within the General Trading Chat forums, part of the Reception category; Originally Posted by pozzyp Very true I have seen Trend traders here that take ages to position themselves on a ...

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Old May 5, 2010, 3:12pm   #121
Joined Jan 2009
Re: The final Holy Grail!

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Originally Posted by pozzyp View Post
Very true I have seen Trend traders here that take ages to position themselves on a move which can also prove quite costly. But when they catch a wave they comp into it and build a monster position that pays very nicely.
I trade a mechanical system which pyramids when the rate moves further in favour of the original trade. Winning trades typically last two months. I've tried discretionary intra-day trading and I'm hopeless at it, so developed something a bit longer term.
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Old May 5, 2010, 3:21pm   #122
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Re: The final Holy Grail!

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Originally Posted by meanreversion View Post
I trade a mechanical system which pyramids when the rate moves further in favour of the original trade. Winning trades typically last two months. I've tried discretionary intra-day trading and I'm hopeless at it, so developed something a bit longer term.
Intraday mechanical-discretionary, 6 to 10 trades at 0,5R.

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Old May 5, 2010, 4:13pm   #123
Joined Jan 2009
Re: The final Holy Grail!

He's not singing anymore? Maybe the whole thread was an elaborate experiment by someone conducting a study into the egos of traders.
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Old May 5, 2010, 6:18pm   #124
 
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Re: The final Holy Grail!

Wow, look at all the people freakin out over the "loss" that his trades are showing. Yet he seems to pull through with a profit.

Just goes to show patience perseveres.

I'd say half the posters are more geared toward "scalping" than long term patient trading.

Good on ya medbs.
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Old May 5, 2010, 6:23pm   #125
Joined Jan 2009
Re: The final Holy Grail!

I'm warming to him as well. I'm not about to put my nuts on the line by publicising intra-day spot calls (remember Tom Hougaard, anyone?!??!). However, it's still not clear to me why he bothers, as he is not selling a service. Must be ego.
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Old May 5, 2010, 7:38pm   #126
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Re: The final Holy Grail!

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Originally Posted by Ninja_Trader View Post
Wow, look at all the people freakin out over the "loss" that his trades are showing. Yet he seems to pull through with a profit.

Just goes to show patience perseveres.

I'd say half the posters are more geared toward "scalping" than long term patient trading.

Good on ya medbs.
There are times when this suite of forums depresses me quite frankly, to think folk are actually hoping another poster/trader will make a substantial loss...bizarre...
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Old May 5, 2010, 9:51pm   #127
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Re: The final Holy Grail!

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There are times when this suite of forums depresses me quite frankly, to think folk are actually hoping another poster/trader will make a substantial loss...bizarre...
Medbs is still 420 ticks offside given its over 5 positions averaging 84 ticks offside on each it isnt that bad. Taking into account that he has an average lot size of about 10 for each trade that works at about 40k loss still. How can you tell me that this is a longer term strategy when the guy is trading it intra day? The guy might have deep enough pockets to survive this but what about next time this happens. So he has 170k in his account and when hes 1700 ticks offside he will have to close. EURUSD had a pullback today back to 1.2900. Stupid thing is if you had stops and your system was that great you would have taken a loss on eurusd shorted it at 1.2895 and took 80-90 points out of it.

I have a client exactly like you. Hes short gold from 900, and long eurjpy from 135.00. He has money to play with though.
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Old May 5, 2010, 10:42pm   #128
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Re: The final Holy Grail!

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Originally Posted by Black Swan View Post
There are times when this suite of forums depresses me quite frankly, to think folk are actually hoping another poster/trader will make a substantial loss...bizarre...
BS,

I think you'll find that it's the way in which the journal was introduced and the attitude that has p1ssed people off to the extent that they want medbs to fail.

Any thread that starts with the words :

HOLY GRAIL !!

100% SUCCESS RATE !!

... is going to get right up people's noses.


If he'd started in a less attention-seeking manner .... "Ok guys, here's my journal. I get a pretty high success rate, but let's see how it plays out" ... something like that, then I'd be ABSOLUTELY routing for him and wishing him every success.

Forums are all about the manner in which you present yourself that dictates whether people warm to you, and as a result what you to succeed or not.
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Old May 5, 2010, 10:54pm   #129
Joined Nov 2008
Re: The final Holy Grail!

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Originally Posted by Paulie_5 View Post
BS,

I think you'll find that it's the way in which the journal was introduced and the attitude that has p1ssed people off to the extent that they want medbs to fail.

Any thread that starts with the words :

HOLY GRAIL !!

100% SUCCESS RATE !!

... is going to get right up people's noses.


If he'd started in a less attention-seeking manner .... "Ok guys, here's my journal. I get a pretty high success rate, but let's see how it plays out" ... something like that, then I'd be ABSOLUTELY routing for him and wishing him every success.

Forums are all about the manner in which you present yourself that dictates whether people warm to you, and as a result what you to succeed or not.
I know mate, but you also know where I'm coming from...
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Old May 5, 2010, 10:55pm   #130
Joined Mar 2010
Re: The final Holy Grail!

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Originally Posted by Paulie_5 View Post
BS,

I think you'll find that it's the way in which the journal was introduced and the attitude that has p1ssed people off to the extent that they want medbs to fail.

Any thread that starts with the words :

HOLY GRAIL !!

100% SUCCESS RATE !!

... is going to get right up people's noses.


If he'd started in a less attention-seeking manner .... "Ok guys, here's my journal. I get a pretty high success rate, but let's see how it plays out" ... something like that, then I'd be ABSOLUTELY routing for him and wishing him every success.

Forums are all about the manner in which you present yourself that dictates whether people warm to you, and as a result what you to succeed or not.
I agree with this totally. Alot of people work f**king hard to make a system that get them very substantial returns and the manner in which this thread is thrown at us is like all our time and effort put into working out the best strategy taking into accounts risk reward, managing stops and limits was a waste of time because the best strategy is to just buy or sell and wait till it comes back into profit. I wont accept this.
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Old May 5, 2010, 10:58pm   #131
Joined Nov 2008
Re: The final Holy Grail!

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Originally Posted by brettus View Post
Medbs is still 420 ticks offside given its over 5 positions averaging 84 ticks offside on each it isnt that bad. Taking into account that he has an average lot size of about 10 for each trade that works at about 40k loss still. How can you tell me that this is a longer term strategy when the guy is trading it intra day? The guy might have deep enough pockets to survive this but what about next time this happens. So he has 170k in his account and when hes 1700 ticks offside he will have to close. EURUSD had a pullback today back to 1.2900. Stupid thing is if you had stops and your system was that great you would have taken a loss on eurusd shorted it at 1.2895 and took 80-90 points out of it.

I have a client exactly like you. Hes short gold from 900, and long eurjpy from 135.00. He has money to play with though.
Moi? Not me pal, I always trade with stops, generally the LL or HH of the session..and/or S/R levels...
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Old May 5, 2010, 11:14pm   #132
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Re: The final Holy Grail!

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Moi? Not me pal, I always trade with stops, generally the LL or HH of the session..and/or S/R levels...
Nah not you. I dont think anyone trades like Medbs. I dont think medbs is a complete idiot, he did run trades in profit and has profited from 12 winning trades out of 12. I just think his strategy is messed up. If he really is playing ranges and averaging in, he should be doing smaller amounts and trippling up his position, so for example he bought 3 lots eurusd at 1.2974 he could have bought 6 more lots at 1.2830, so his average rate would have been 1.2878 with stops at 2% his account value. All in hindsight, but with any medium/long term trading strategy you will never hit the bottom. It's not even how i trade but when i do i like to run the last 3rd of my trade further than the first 2 3rds. I dont average in but it is very similar to this strategy in that 2 3rd's of the trade either hits it limit or stop in a short period of time compared to the last 3rd.
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Old May 6, 2010, 2:06am   #133
Joined Sep 2008
Re: The final Holy Grail!

I agree with eveyting Paulie_5 said, except I don't want to see the guy fail, I just don't think he can win without altering his strategy somewhat, hence my sarcastic posts here. I will give him some credit though, he has a few very nice wins.

Peter
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Old May 6, 2010, 8:13am   #134
 
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Re: The final Holy Grail!

Quote:
Originally Posted by Paulie_5 View Post
BS,

I think you'll find that it's the way in which the journal was introduced and the attitude that has p1ssed people off to the extent that they want medbs to fail.

Any thread that starts with the words :

HOLY GRAIL !!

100% SUCCESS RATE !!

... is going to get right up people's noses.


If he'd started in a less attention-seeking manner .... "Ok guys, here's my journal. I get a pretty high success rate, but let's see how it plays out" ... something like that, then I'd be ABSOLUTELY routing for him and wishing him every success.

Forums are all about the manner in which you present yourself that dictates whether people warm to you, and as a result what you to succeed or not.
Just when I thought the self-righteous, pious attitudes of the undesirables couldn’t get any worse, you come along and post this gem.
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Old May 6, 2010, 8:59am   #135
 
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Re: The final Holy Grail!

A sad lession from those of us that know.

Anybody - ANYBODY - can predict five good trades in a row - this does not make a good trader.

It's how you handle the bad trades that defines how good a trader you are.

Maybe medbs will get lucky and the trades will switch direction - then he'll be back telling us how fantastic his system is and how we all know nothing.

in the mean time I'll just sit here smugly knowing what I and a few others predicted would happen DID happen. We've been there, done that, got the t-shirt - but when we try to impart some of our knowledge and warn people against such rubbish we get shot down. There's a reason why we have been on this board a long time - and that is we've learned from our mistakes.
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